Some NC homeowners upset with builder's sale plans
The more than 20 residents in the subdivision put up "For Sale By Owner" signs in their yards earlier this month to protest the lower prices for newer homes. Albert Mealer says he and other homeowners are trying to protect the value of their homes.

Some NC homeowners upset with builder's sale plans
May 14, 2009
HILLSBOROUGH, N.C. (AP) -- Some North Carolina homeowners are upset with a builder's plan to try to deal with the downturn in the housing market.

The News & Observer of Raleigh reported Thursday that KB Homes has been advertising homes in a Hillsborough neighborhood for about $150,000.

That upsets people in Kenion Grove who bought some of the first homes in the neighborhood three years ago for more than $300,000.

The more than 20 residents in the subdivision put up "For Sale By Owner" signs in their yards earlier this month to protest the lower prices for newer homes. Albert Mealer says he and other homeowners are trying to protect the value of their homes.

KB spokeswoman Cara Kane says her company is trying to respond to the market, offering something people can afford.

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