[quote=evolusd][quote=montana]Just on my street only, which was built out in 2006, only 1/3 of the original homeowners remain. Both my neighbor and I pick up what we believe were incredible deals on short sales when looking at the price per square foot. After factoring in the present value of future mello roos payments, we still purchased well below the then current (and now) market value of the homes that sold without taking into account the present value of future mello roos payments.
I think there are still a number of people that will walk away, I just think that the majority have already done so in SEH.[/quote]
Montana – I’m curious. Where do you get information on the specifics of the bond to calculate the PV of the payments?
That’s a good way to compare the new homes with no MR to the existing resales that have MR.[/quote]
Evolusd –
The specifics of the bonds that were issued for SEH can be found on the City of San Marcos website in the Community Facilities Districts section found here:
Click on CFD 99-01 to download the PDF that has each improvement area (neighborhood) and specific information for the terms of the bonds, including the maximum amount that could be charged on an annual basis.
To find the current CFD charged for a neighborhood, just check out City of San Diego Treasurer – Tax Collector website and lookup any address or street to look into the current property taxes.
Now that you have the current bond payment and the maximum bond payment and the bond maturity, you can calculate the PV of your payments and be able to compare homes with mello roos and those without mello roos and make a good educated decision.
