Sorry man, I haven't been on in a while. I've been busy getting ready for landscaping season.
Anywho, I just noticed this thread and thought I'd throw my 2 cents in. First of all, from a landscapers perspective I would need to know what zone your in to REALLY help you. However, it seems you are in a pretty warm spot if the builder gave you perennial rye and you've had 105+ days.
Fescue will burn up in the summer. It works great as a filler but doesn't always last in larger applications.
Definitely stay away from blue grass as it is a cold weather grass.
Bermuda is a warm weather grass and can stay dormant for a couple years and still come back. Around here, it used to be considered a weed until the settlers decided that it wouldn't go away so they just let it go wild. It's roots will go up to 40 feet deep. The caveat here is that it doesn't stay green all year. Only when the weather is 70+ consistently is it green.
St. Augustine is great around humid warm climates but has the same reputation as Bermuda about being a weed. It's often mistaken for crabgrass.
If you think you had perennial rye I would stick with it. Wet down the dirt and chop it up with a hard rake or hoe. Then, apply seed and some top soil. Repeat previous steps several times. Then water twice a day 20 or more minutes each time for two weeks or until you see the grass popping through the soil. Continue to water every day until it is mature. Don't be surprised if it is alot thinner than the grass you have. It take grass about a year or so to mature to it's full width. (some longer).
Before you seed I recommend doing a weed control application (2,4 Di methylene salt) but do not apply in above 85 degree temps. It will burn everything. Keep in mind, hand pulling weeds is the time tested best way to go, although tedious.
Two weeks after seeding I would apply a good all around fertilizer to the yard. Make sure it contains ammoniacal nitrogen as well as urea nitrogen. (ammonia is a quick green up, where as urea has a longer half life and stays in the ground longer) Also make sure it contains Iron and potassium.
Another quick tip, if you have a hard soil such as clay (thats what we have), consider throwing a little gypsum salt on the ground. It helps the soil absorb water better.
Disclaimer: My advice was pretty general but keep in mind that landscaping is VERY zone specific so it's hard for me to advise you as I only know my area very well. If you want better zone specific advice you should go see your local John Deere Landscape Supply store or check out lawnsite.com.