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OVERWHELMING DEMAND HAS MBK HOMES OPENING A NEW COMMUNITY IN NORTH CORONA


The 73-unit Sancerre community is based on MBK Homes' Rivermist product and includes additional new floorplan options

IRVINE, CALIF. (January 14, 2010). MBK Homes Southern California, a division of MBK Real Estate Ltd., has announced that sales will begin at its newest North Corona home community, Sancerre, this upcoming weekend of January 16-17, 2010. Sancerre features floorplans from its highly popular 106-unit Rivermist community, which recently sold out. High demand from homebuyers reacting positively to Rivermist, also located in North Corona, has led MBK Homes to select the Rivermist home designs for Sancerre. Prices for the new homes will start from the low $400,000s.

Sancerre's 73 single-family homes offer Rivermist's popular details and amenities, and include additional new floorplan enhancements. These updates are based on MBK Homes' usual research of current buyer needs, in addition to specific Rivermist consumer requests. The new floorplan options include the popular Plan 4X's ability to allow two side-by-side downstairs bedrooms to become a new master suite, allowing both an upstairs and downstairs master suite in the same home. There is significant pent up demand for this floorplan, and the dual master suite option easily accommodates same home multi-generational living, a highly prevalent lifestyle in the area.

"Rivermist successfully addressed the demand for large, well appointed luxury homes in North Corona. With Rivermist's sell-out imminent, Sancerre will appeal to both existing customers who were unable to purchase at Rivermist as well as new customers visiting MBK for the first time," said Rick Fletcher, vice president of sales and marketing at MBK Homes. "Excellent new home pricing combined with historically low interest rates and growing consumer confidence have resulted in increased sales volume and housing starts in the Inland Empire, making 2010 perhaps one of the best times in recent history to purchase a new home.

"We are excited for buyers to experience Sancerre's high quality of craftsmanship and detail along with our exceptional commitment to the customer experience, which MBK Homes has become known for in all of its communities," added Fletcher.

Additional popular Rivermist features included at Sancerre are the large pool-sized lots, high ceilings which are usually not found in the area, and no Home Owner Association (HOA) dues. Sancerre's location will provide residents with nearby schools along with a multitude of recreational and shopping opportunities.

The two-story Sancerre homes will feature a variety of Spanish, Italian and Cottage exterior architectural styles. Additional floorplan options allow for home offices, lofts, and bonus rooms. Sancerre homes range from 2,723 to 3,927 square feet, and features three to six bedrooms, three to four baths, and three to four-car garages. Sancerre also incorporates the MBK Homes "LifeWise Program," in all the homes in order to conserve and more efficiently use our planet's precious resources.

Interested buyers can tour the decorated models at the Rivermist sales center, at 7538 Morning Mist Drive, near Citrus Street and Sumner Avenue, in North Corona. For further information on Sancerre, visit www.mbkhomes.com/sancerre, or call 951.270.0625. An onsite sales center will open at Sancerre later this spring.

About MBK Homes
MBK Homes is active in the development of both attached and detached housing product, catering primarily to first-time and first and second move-up homebuyers throughout California. MBK Homes prides itself on its award winning customer satisfaction and its reputation for delivering quality housing that is innovative in design, comfort and craftsmanship, all at an excellent value. For more information, visit the company's website at www.mbkhomes.com.

MBK Homes is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world's largest corporations. MBK Real Estate's multidisciplinary concerns span a wide spectrum of real estate development, including homebuilding, retail and senior housing divisions.

MBK Real Estate Ltd. is headquartered in Irvine, CA, with regional offices in Portland, OR. Corporate offices are located at 175 Technology Drive, Irvine, CA 92618; phone (949) 789-8300; fax (949) 789-9300; or visit its Web site at www.mbk.com.

Posted on January, 27th 2010

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