[quote=kkun]…Every house in that locality has equal Mello Roos. The fact is, it has been sold at a steeper discount than comparable houses in the same street.[/quote]
Correct me if I’m wrong, but my understanding was that the avg size lot in Stonebridge was 20K sf. If this is truly the case, this house sits on a significantly smaller lot (8K) than the avg size around there with the same amt of MR attached to it as the rest. I didn’t even check (as you did) to see if its lot backed into road noise – another significant drawback.
kkun, how do you figure you could have made a $50K profit on this house (after buying & selling costs) by buying it for $550K, “fixing it up” and flipping it? Do YOU have a RE license? And would a $50K profit been worth the time and trouble given you would have to have paid taxes/MR and may have had to carry a mortgage for the length of time it took to sell it? What is the avg market time for a property with a $500+ mo MR encumbrance??
