I’m originally from LA (born and raised), went to school in Northern California, lived abroad for a bit, then moved to NYC for work, where I’ve been for the past 4 years. I live/work in Manhattan (midtown), where I will probably be until next year when I decide whether to stay another year or move back to California – much of that decision will be based on where Wall St is next year, so time will tell.
What I like about The Crosby is that it is a gated golf community-a very nice one at that-that is relatively close to the coast, so it still has a nice, temperate climate. I’m originally from the South Bay part of LA (Redondo Beach/Torrance), so I’m used to a year round climate that oscillates between 65-75 degF.
I was running the math yesterday on the impact MR has on financing. In The Crosby, for the houses in the $1.3-1.5mm range, MR averages somewhere around $6500/year, which comes to $550 or so per month. From what I can tell, MR taxes are not tax-deductible, so $550/mo is effectively an after-tax number, which is roughly equal to another $150K mortgage. (Similarly, the HOA fees which are also around $500/mo would be akin to another $125K mortgage). All in, between the high HOA and MR, its as if you’re paying another $275K for a house in the Crosby (or comparable community).
Is Olivenhain a new community or something akin to the Covenant/FBR?
