Perry, that George is such a whore for the REIC. can you e-mail me that ad to me at ocrenter at gmail dot com? I think it is time to do another story on del sur on my blog.
As discussed previously, the Del Sur development is a ghost town in the making. Mello Roos + property taxes = around 1.8% annually. Not a pretty picture. Not to mention an HOA that is being partially paid by the developers. Not sure what the HOA fee will be when the developers are done. A lot higher is my guess.
I went out there. The MR are high, the lots are very small, and the HOA will be steep. They even had 3 story model out there with the family room on the third floor. My wife got a good laugh out of that one. I can only image how bad the commute will be when it is all built up out there. Its over 4 miles from the 56 up to Del Sur. And then you crawl on the 56 to I-5. Ugh.
On the bright side, the schools will have good scores.
This is a very stupid planned community.The fools that planned the exits and entrance should go back to school.
Try 6.30 am -8am and see the traffic.
I also think there is HOA, MR and another fee for using the facilities.Maybe someone can say more on this.
Yeah, this development is a TAX. Nice looking hood, just wrong place, too expensive, no yards, HOAs, new schools with a bunch of plastic kids that will grow up to be plastic just like their mom and dads.
During the last bust, Fairbanks Ranch was like this. It was a psuedo Rancho Santa Fe and had not yet reached maturity. Fairbanks got nailed during the last downturn, but I think it’ll do a lot better this time around.
Same for Santaluz this time. It isn’t yet built out or stabilized and it’s a little farther out than some of its competitors so I think it’ll suffer more as a result. The fact that a good portion of it consists of tract homes rather than real customs is also going to work against it.
You’ll know they’re in real trouble when they discontinue the guard service.
I went to this seminar and the information was great. I learned a great deal in the Chamberlain session that I wouldn’t have known otherwise. Besides, the houses they were held in were pretty impressive and the scenery in that area is unreal. I’m glad I went!
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