KB Home Buys 40 Acres In Eastvale, California For New Home Development

That’s right, you heard it here first from your Eastvale real estate agent team at The Homefinding Center™.

KB Home has purchased 40+ acres of land in Eastvale, California (CoronaKB Home Eastvale Ca suburb) from Stratham Communities for development of the newest new home community in Eastvale.  The new community is expected to take the place of The Enclave which is expected to be sold out soon.  Ground breaking is expected sometime next year (2014) and according to KB Home, grading of the property in preparation for the new home construction will begin before the end of the year.  KB expects 200+ homes to be built on the land.  Though the builder has declined to discuss terms of the land purchase, it is estimated that the transaction was near 50 million dollars!  They are now fully vested in the north Corona community of Eastvale (newly incorporated, Eastvale, California was previously an unincorporated suburb of Corona, California.

KB Homes Eastvale CAWhile the homes will be various sizes from 1,500 to approximately 3,500 square feet, the development will cluster the homes which will likely be on small to midsize lots with shared green belts, alleyways, and common areas (park/play areas).  Currently slated are three parks (including kiddie play areas), tennis courts, basketball courts, a centrally located club house including facilities such as pool, spa, clubhouse, game room, meeting room, BBQ pits, and even a fire pit.

With home values on the fast track back to the highs seen in 2006/2007, KB Home is looking to capitalize on the high demand that the real estate market is seeing in Southern California currently.  Inventory is sparse as home buyers and investors flock to Eastvale to get in on the deals to be had.  2012 here saw 40% of all homes purchased sold in CASH transactions (no financing).  While this trend is slowing, the demand for homes (including new homes) remains high with owner occupant buyers which KB Homes prefers in their new home communities in Eastvale.

For information about this or any other new home builder development in Eastvale, call our team of Eastvale/Corona real estate agents at 951-212-7479 today.

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