HousingBear,
I was in the same position you are in now in October 2006…waiting for the big first purchase but also dreading it knowing that the market is definitely going nowhere but down. The Derby development is difficult in that respect because it seems that in the face of everything, they are actually able to get rid of most of their inventory. They do so buy keeping the prices the same phase after phase instead of incremental increases (I think they realize that being the soft market that it is they can’t get away with that). Being said, we bought a plan 2 that fell out of escrow for about 55k off their sticker price (all bells and whistles minus floors). Prices will definitely be lower in the next 2 yrs but if you need to buy now, get one that falls out of escrow so you can haggle them down. Your reasons for entering the market right now are your own but for us, we figured we’ll be here for a long time and both have stable jobs in the healthcare sector so can ride out a prolonged slump (looking to stay in this house for a good 8-10 yrs at least), and the lot that fell out had a huge backyard with a canyon view which are rare with the derbies (usually the lots are about 7000 sq ft).
That being said, no mello roos, HOA is about $39/month, water bill about $80/month, gas and electric varies depending on the month but our best bill approx. $130, worst during the winter was $340 (had in-laws in town for a few weeks so had to keep it toasty). Landscaping as remarked upon before just depends on how much you want to fork out. We’re putting in a pool with automated cover, have to soft/hardscape approx. 10,000 sq feet so a little over 100k (including the pool). Seriously though, if your life situation allows, wait a yr or two and pick up the distressed derbies that come back on the market already up to the gills with upgrades/landscaping and gobble those up at a hefty discount; I wish I did even though the prices haven’t shown much depreciation yet (YET).
rhino