[quote=bearishgurl]
joec, the reason the CFD’s were created in the 80’s was to sell bonds to encourage development…The creation of the CFD’s had nothing to do with Prop 13.[/quote]
Pretty much everything I have read says MR has a good deal to do with Prop 13 because without Prop 13, you would not need to create the MR bond to begin with and you can simply tax folks directly to create these facilities.
http://tinyurl.com/2dpkflt
No idea on how accurate this article is, but, I quote…”Prop 13 created a challenge when it came to developing new neighborhoods. The cost of Prop 13 to the municipalities (Local Government) was significant and left them with little ability to fund the necessary improvements in order to create a safe and quality new development…
…The answer? In 1982, the California State Legislature enacted the; Community Facilities District Act. The “nick name” generally adopted is called Mello-Roos…”
[quote=bearishgurl]
Aside from a prime location, the often generous lot sizes and quality of construction are the reasons behind why many buyers think older neighborhoods are “expensive.” You pay for exactly what you get in this life.[/quote]
The older neighborhoods are more “expensive” PRIMARILY for their location. There’s a reason why in real estate, it’s always been about “Location, Location, Location”.
Construction quality is much lower on the list since if it’s not in a desirable area, no one really cares how well it’s constructed…(or how big the lot is). Free homes in Detroit anyone?
