Apr 26 2005
The Better Business Bureau of Southern Arizona announced at its annual Business Ethics Awards Breakfast that KB Home's Tucson Division was the recipient of the organization's President's Trophy in recognition of the homebuilder's policy of not selling homes in its new home communities to investors and speculative buyers.
The policy is consistent with KB Home's company-wide anti-speculative clause that is part of the buyer's agreement, which requires buyers to demonstrate that the home will be owner-occupied.
"There is hardly a latte served in Tucson without a conversation about how 'hot' the real estate market is," said Tom Collier, President and CEO of the Better Business Bureau of Southern Arizona. "In this environment, where you can make a lot of money and fast, KB Home made an admirable decision not to sell homes in its new home communities to real estate speculators and investors."
KB Home was the first homebuilder in Tucson to implement the anti-speculative clause in its sales offices, while other homebuilders in the area have since followed suit.
"KB Home has been building homes in Tucson for more than seven years and we are dedicated to developing communities where families live and prosper," said John Bremond, President of KB Home's Tucson Division. "Neighborhoods are stronger when the people who live in the home, also own the home and take pride in the home."
The Better Business Bureau of Southern Arizona only presents its President's Trophy when a company has gone "above and beyond." The only other recipient of the organization's President Trophy was in 2003 to the Hilton Tucson El Conquistador Golf & Tennis Resort, when the hotel provided shelter to Mt. Lemmon residents forced out of their homes by forest fires.