[quote=sdrealtor]Ren
What some posters fail to understand is that many of todays first time buyers have great jobs with higher incomes and great upward mobility but often lack two key things – time and large down payments. They want newer turnkey houses because they can easily serivce the debt but dont have $30 to $50K lying around for remodeling. They work long hard hours during the week and want to enjoy their weekends with their young children not spend them fixing paint, drywall, roofs, plumbing and electrical issues. They havent gone through multiple home remodelling projects and dont have time or interest in learning the ins n outs of doing them. Turnkey fits their financial position and lifestyle. For buyers like that its the right way to go.
FWIW, Mello Roos actually helped prevent overbuilding in my neighborhood. The developers were forced to set aside land for a school (that wasnt actually needed anytime soon and is being landbanked for the longterm) and to use a modest MR bonds to finance the purchase. The developers would have loved to build another couple hundred homes there but couldnt. Without MR there would have been no mechanism for the land to be purchased and the developers would have most likely just been able to add more density here.[/quote]
I think there is one big big benefit of mello ruse(sic) when the economy is down… Smaller hit in public schools during economic downturn.
DMUSD is heavily dependent on the MR collected in CV/DM, and I believe more so than then funding from state. I would surmise that’s probably one of many reasons why schools in CV,encinitas, haven’t been nearly hurt as bad as schools in other areas more dependent on the state budget….Well, that and folks in this area probably also end up donating more dollars/time to the district itself via fund raising.
FWIW: Looks like despite the economic downturn and what some folks have feared, DMUSD was able to keep the ESC from being cut for next year via 60% participation from donations. http://www.delmarkids.org/
And for that matter, I haven’t heard of any rumored layoffs either in the district.
