Santaluz – Current Market Conditions

[permabear]

[quote=bearishgurl][quote=HomeShopping]I have seen several lots in Santaluz that I like, for the right price. Does anyone know whether you have to pay HOA dues on an empty lot? If I were to buy, I may not build for a few years. I understand that one has to pay property taxes on lots.[/quote]

HomeShopping, in CA, Covenants, Conditions and Restrictions (CC&R’s) are tied to the land. They will appear on the title of your lot. You will agree to them implicitly upon taking title of the lot. These CC&R’s become the underlying basis for mandatory membership in a Homeowner’s Assn (HOA).[/quote]

Don’t forget the Mello-Roos too – have to pay those from year 1 (and property taxes).

[EconProf]

I sometimes bicycle around Santaluz and stop to look at the flyers posted at vacant lots for sale. The development began about 7 years ago, and some speculators bought lots to hold as investments. They roughly doubled in price and subsequently fell, to the point now that some are BELOW the original price. In that time the owners have been paying property taxes plus Mello Roos, amounting to about 2% of value. This plus the opportunity cost of the money (or interest cost, if mortgaged) must make them wish they never heard the name Santaluz.

[EconProf]

I sometimes bicycle around Santaluz and stop to look at the flyers posted at vacant lots for sale. The development began about 7 years ago, and some speculators bought lots to hold as investments. They roughly doubled in price and subsequently fell, to the point now that some are BELOW the original price. In that time the owners have been paying property taxes plus Mello Roos, amounting to about 2% of value. This plus the opportunity cost of the money (or interest cost, if mortgaged) must make them wish they never heard the name Santaluz.

[EconProf]

I sometimes bicycle around Santaluz and stop to look at the flyers posted at vacant lots for sale. The development began about 7 years ago, and some speculators bought lots to hold as investments. They roughly doubled in price and subsequently fell, to the point now that some are BELOW the original price. In that time the owners have been paying property taxes plus Mello Roos, amounting to about 2% of value. This plus the opportunity cost of the money (or interest cost, if mortgaged) must make them wish they never heard the name Santaluz.

[EconProf]

I sometimes bicycle around Santaluz and stop to look at the flyers posted at vacant lots for sale. The development began about 7 years ago, and some speculators bought lots to hold as investments. They roughly doubled in price and subsequently fell, to the point now that some are BELOW the original price. In that time the owners have been paying property taxes plus Mello Roos, amounting to about 2% of value. This plus the opportunity cost of the money (or interest cost, if mortgaged) must make them wish they never heard the name Santaluz.

[EconProf]

I sometimes bicycle around Santaluz and stop to look at the flyers posted at vacant lots for sale. The development began about 7 years ago, and some speculators bought lots to hold as investments. They roughly doubled in price and subsequently fell, to the point now that some are BELOW the original price. In that time the owners have been paying property taxes plus Mello Roos, amounting to about 2% of value. This plus the opportunity cost of the money (or interest cost, if mortgaged) must make them wish they never heard the name Santaluz.

[sunny88]

I believe that Santaluz will eventually recover as the location is unique and buyers will be interested in moving there again. I have seen some great deals out there lately. The HOA includes high-speed cable and landscaping and I think the feel out there is priceless…

[sunny88]

I believe that Santaluz will eventually recover as the location is unique and buyers will be interested in moving there again. I have seen some great deals out there lately. The HOA includes high-speed cable and landscaping and I think the feel out there is priceless…

[sunny88]

I believe that Santaluz will eventually recover as the location is unique and buyers will be interested in moving there again. I have seen some great deals out there lately. The HOA includes high-speed cable and landscaping and I think the feel out there is priceless…

[sunny88]

I believe that Santaluz will eventually recover as the location is unique and buyers will be interested in moving there again. I have seen some great deals out there lately. The HOA includes high-speed cable and landscaping and I think the feel out there is priceless…

[sunny88]

I believe that Santaluz will eventually recover as the location is unique and buyers will be interested in moving there again. I have seen some great deals out there lately. The HOA includes high-speed cable and landscaping and I think the feel out there is priceless…

[EconProf]

Sunny88: I agree. Santaluz is all about low density and, for many houses, forever views. But there are two parts to Santaluz–east of Del Sur, and the higher density, 4S standard big boxes west of Del Sur. The latter have deservedly fallen the most in value.

[EconProf]

Sunny88: I agree. Santaluz is all about low density and, for many houses, forever views. But there are two parts to Santaluz–east of Del Sur, and the higher density, 4S standard big boxes west of Del Sur. The latter have deservedly fallen the most in value.

[EconProf]

Sunny88: I agree. Santaluz is all about low density and, for many houses, forever views. But there are two parts to Santaluz–east of Del Sur, and the higher density, 4S standard big boxes west of Del Sur. The latter have deservedly fallen the most in value.

[EconProf]

Sunny88: I agree. Santaluz is all about low density and, for many houses, forever views. But there are two parts to Santaluz–east of Del Sur, and the higher density, 4S standard big boxes west of Del Sur. The latter have deservedly fallen the most in value.

[Author]

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