Is this a good deal ?

[CA renter]

[quote=ocrenter]CAR, from the property tax site shows MR of around $3000/year, which translates to $250 per month.

finding a home without MR within 92009 is difficult, likely a lot older as well. you’ll probably be looking at at least $100k more in purchasing cost. that’s $85/month higher in property tax just because of the higher purchase cost. then you have the higher mortgage from the higher purchase cost as well. all to avoid MR and rumored remote possibility that the MR may be extended when the 30 year bond is complete.

all MR are not created equal. I don’t think in this case the MR should be the deal breaker.[/quote]

We **definitely** prefer the older, single-story homes with no HOA and no MR, but the newer homes are dropping more in price, so the substitution principle is coming into effect. This is the only reason we’re (somewhat) willing to consider new homes at this point in time [this is in answer to sdr’s question, as well].

So far, we’re willing to pay a premium to live in an older, smaller home on a larger lot if it doesn’t have HOAs or MR…but if the price differential justifies a newer/larger home with encumbrances, we would be foolish not to consider something other than what we were originally looking for.

We are still holding out for what we want, but because of some rather significant price drops in other areas and types of inventory, these other homes are becoming more and more attractive, relatively speaking.

[CA renter]

[quote=sdrealtor]I dont get it? This is everything you said you didnt want? And its as close or closer to guys on the Megan’s Law database issue you ran into on the house that was everything you were looking for which you walked on.

Have you changed what you are looking for?[/quote]

The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.

[CA renter]

[quote=sdrealtor]I dont get it? This is everything you said you didnt want? And its as close or closer to guys on the Megan’s Law database issue you ran into on the house that was everything you were looking for which you walked on.

Have you changed what you are looking for?[/quote]

The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.

[CA renter]

[quote=sdrealtor]I dont get it? This is everything you said you didnt want? And its as close or closer to guys on the Megan’s Law database issue you ran into on the house that was everything you were looking for which you walked on.

Have you changed what you are looking for?[/quote]

The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.

[CA renter]

[quote=sdrealtor]I dont get it? This is everything you said you didnt want? And its as close or closer to guys on the Megan’s Law database issue you ran into on the house that was everything you were looking for which you walked on.

Have you changed what you are looking for?[/quote]

The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.

[CA renter]

[quote=sdrealtor]I dont get it? This is everything you said you didnt want? And its as close or closer to guys on the Megan’s Law database issue you ran into on the house that was everything you were looking for which you walked on.

Have you changed what you are looking for?[/quote]

The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.

[an]

[quote=CA renter]The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.[/quote]
I thought you said there’s a lot of choices in our current public school system. Why does it matter where the designated public school is?

[an]

[quote=CA renter]The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.[/quote]
I thought you said there’s a lot of choices in our current public school system. Why does it matter where the designated public school is?

[an]

[quote=CA renter]The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.[/quote]
I thought you said there’s a lot of choices in our current public school system. Why does it matter where the designated public school is?

[an]

[quote=CA renter]The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.[/quote]
I thought you said there’s a lot of choices in our current public school system. Why does it matter where the designated public school is?

[an]

[quote=CA renter]The Megan’s Law stuff was just the last thing. We didn’t like the steep hill, school district (in case we decide to use public schools), or the fact that the seller wanted to stay for two months, but had failed to even look at other homes even while in escrow — didn’t seem in a hurry to move, at all. We didn’t want to deal with a recalcitrant seller and possibly have a drawn-out eviction on our hands if he didn’t manage to move out after 60 days…and no recourse with agents, etc. Good move on our part, as when we drove by there about 6 months later, he was still living there.[/quote]
I thought you said there’s a lot of choices in our current public school system. Why does it matter where the designated public school is?

[an]

[quote=CA renter]Even **if** the $9,300 tax amount you saw was correct (I don’t think so — look at the previous purchase price), that’s $775/month, not $700. Add $100 for HOA, and it’s $875. I still think it will run over $900. I’m not factoring in mortgage costs, as my goal is to go 0% LTV.

With all the searching for new govt revenue, I won’t count on the MID or even Prop 13 being around for the long haul. As mentioned, the maintenance costs usually negate any tax benefit of MID or prop tax deduction, anyway.[/quote]
Where did you get $775/month from? According to the treasurer-tax collector, the tax rate is 1.04122% and a fixed cost of $2709.56, so, if you pay $570k, your tax bill will be $720.37 + $100 HOA = $820.37/month.

BTW, if you search for this parcel #: 221-852-49-00 in the SD tax treasurer-tax collector website, you’ll find that their last year tax was $9,300.48.

So, even if there’s no MID and no Prop 13 AND assume price doesn’t crash down once MID and Prop 13 get removed, your PIT is around $3000-3100/month if you get a loan. Insurance is probably another $100/month for that priced home, so you’re looking at $3100-3200/month. How much does it cost to rent the place?

[an]

[quote=CA renter]Even **if** the $9,300 tax amount you saw was correct (I don’t think so — look at the previous purchase price), that’s $775/month, not $700. Add $100 for HOA, and it’s $875. I still think it will run over $900. I’m not factoring in mortgage costs, as my goal is to go 0% LTV.

With all the searching for new govt revenue, I won’t count on the MID or even Prop 13 being around for the long haul. As mentioned, the maintenance costs usually negate any tax benefit of MID or prop tax deduction, anyway.[/quote]
Where did you get $775/month from? According to the treasurer-tax collector, the tax rate is 1.04122% and a fixed cost of $2709.56, so, if you pay $570k, your tax bill will be $720.37 + $100 HOA = $820.37/month.

BTW, if you search for this parcel #: 221-852-49-00 in the SD tax treasurer-tax collector website, you’ll find that their last year tax was $9,300.48.

So, even if there’s no MID and no Prop 13 AND assume price doesn’t crash down once MID and Prop 13 get removed, your PIT is around $3000-3100/month if you get a loan. Insurance is probably another $100/month for that priced home, so you’re looking at $3100-3200/month. How much does it cost to rent the place?

[an]

[quote=CA renter]Even **if** the $9,300 tax amount you saw was correct (I don’t think so — look at the previous purchase price), that’s $775/month, not $700. Add $100 for HOA, and it’s $875. I still think it will run over $900. I’m not factoring in mortgage costs, as my goal is to go 0% LTV.

With all the searching for new govt revenue, I won’t count on the MID or even Prop 13 being around for the long haul. As mentioned, the maintenance costs usually negate any tax benefit of MID or prop tax deduction, anyway.[/quote]
Where did you get $775/month from? According to the treasurer-tax collector, the tax rate is 1.04122% and a fixed cost of $2709.56, so, if you pay $570k, your tax bill will be $720.37 + $100 HOA = $820.37/month.

BTW, if you search for this parcel #: 221-852-49-00 in the SD tax treasurer-tax collector website, you’ll find that their last year tax was $9,300.48.

So, even if there’s no MID and no Prop 13 AND assume price doesn’t crash down once MID and Prop 13 get removed, your PIT is around $3000-3100/month if you get a loan. Insurance is probably another $100/month for that priced home, so you’re looking at $3100-3200/month. How much does it cost to rent the place?

[an]

[quote=CA renter]Even **if** the $9,300 tax amount you saw was correct (I don’t think so — look at the previous purchase price), that’s $775/month, not $700. Add $100 for HOA, and it’s $875. I still think it will run over $900. I’m not factoring in mortgage costs, as my goal is to go 0% LTV.

With all the searching for new govt revenue, I won’t count on the MID or even Prop 13 being around for the long haul. As mentioned, the maintenance costs usually negate any tax benefit of MID or prop tax deduction, anyway.[/quote]
Where did you get $775/month from? According to the treasurer-tax collector, the tax rate is 1.04122% and a fixed cost of $2709.56, so, if you pay $570k, your tax bill will be $720.37 + $100 HOA = $820.37/month.

BTW, if you search for this parcel #: 221-852-49-00 in the SD tax treasurer-tax collector website, you’ll find that their last year tax was $9,300.48.

So, even if there’s no MID and no Prop 13 AND assume price doesn’t crash down once MID and Prop 13 get removed, your PIT is around $3000-3100/month if you get a loan. Insurance is probably another $100/month for that priced home, so you’re looking at $3100-3200/month. How much does it cost to rent the place?

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