Santaluz Mello-Roos Payoff

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Submitted by faterikcartman on January 7, 2011 - 12:12am

In another topic Newbiz said the Mello-Roos payoff for custom homesites in Santaluz is about $100,000. Can he, or anyone else verify this is accurate info?

I'm waiting on a SS lot somewhere else but a decent deal on a house in Santaluz is a back-up and I would like a clear idea of Mello-Roos payoff amounts to properly value the deal. Thanks in advance.

Submitted by permabear on January 7, 2011 - 1:34pm.

I checked into this - actually called the tax consultant that is responsible for administering the Santaluz MR district.

It is approximately $90,000. It depends on how much has been paid so far, etc.

What killed Santaluz for me was the building restrictions which greatly limit what you can build and add huge costs. Items like hand-laid clay roofs, double walls, and true divided light windows push costs up. Make sure you get a quote from a GC who has worked in Santaluz before. Anything less than around $225/ft is unrealistic.

If you are interested, I'm actually aware of a pocket (off-MLS) listing on Northern Lights for a great lot at a great price. PM me if you are interested and I will send you the details. I'm not a realtor, but I was working with one who told me about this listing.

Submitted by faterikcartman on January 7, 2011 - 2:10pm.

Just wrote a long, long reply, only to hit the wrong key and lose it all. $%#@! Suffice to say, thank you mucho! We'll just add that amount on to the cost of the primary mortgage when evaluating the deal rather than look at it as an additional tax, which is just too much to bear psychologically. The place in Santaluz is a completed home on a custom lot (as opposed to some other homes in Santaluz. The lot we're looking at is in another part of the county. Do you think $225 is a reasonable number for a high-end build elsewhere? We know people that paid waaay over $1,000 sq/ft, but their place is a jaw dropper featured in a magazine. Hard to know what will do as the number we used to hear was "$350" but suspect prices have gone down.

Submitted by permabear on January 7, 2011 - 3:09pm.

From speaking with several GC's, I think you can do $200-250/ft and get a very nice home. I will PM you the name of a contractor I got here from a fellow Pigg. This guy won "builder of the year" for a 12,000 sq ft home in Carlsbad that is decked out to the nines and was done under $200/ft.

One thing to keep in mind is $/ft doesn't scale linearly. Smaller houses will be more because you still have a kitchen, garage, foundation, water heater, permits, etc. You get big economy of scale at 4500 ft+. At 3000 ft I would expect around $250/ft. But this GC just built an unbelievable 7000 ft estate in Poway for $185/ft.

Submitted by faterikcartman on January 7, 2011 - 3:21pm.

That sounds DYNOMITE (channeling JJ Walker) as we are interested in around 7-8,000 sq/ft and Poway!

Submitted by Aecetia on January 8, 2011 - 7:13pm.

I hope you will keep us posted on how your project works out for you.

Submitted by faterikcartman on January 8, 2011 - 7:18pm.

Well both properties we're targeting -- one house and one lot -- are short sales and it seems like quite a dance. Things have been ongoing for months now so I'm not holding my breath either way, but hope to walk away with one or the other. I'll let everyone know how it all plays out.

Submitted by sdrealtor on January 8, 2011 - 8:52pm.

check your private message about a poway house

Submitted by mom23girls on February 11, 2011 - 12:27am.

permabear... would love to get the name of the builder. Considering buying a lot in either Santaluz or The Crosby's. There's also Gables Crossing where all the work is done for you.

Submitted by KinaBalu on May 23, 2011 - 6:34pm.

PermaBear,
Will you kindly share the GC information? We are in the process of looking for a property or may be building one if we can't find one soon.

Cheers!

Submitted by The Pistols on September 17, 2011 - 9:10am.

Hello permabear- we are looking for a GC and would love to get the name and number of the contractor. Much appreciated!

Submitted by snaker on March 25, 2012 - 9:37pm.

permabear, thank you for all of the excellent posts through the years. Any chance I can get the GC name as well? We are debating about selling our Olivenhain home and building in Santa Luz. Thank you!!!

Submitted by nybuyer on April 23, 2012 - 7:58am.

Ditto - I'm in need of a good/solid realtor and a GC. Any info is much appreciated!

Submitted by flu on April 24, 2012 - 8:24am.

bump

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