Stonebridge Estates / Scripps Preserve – What’s going on there?

[nybuyer]

well, maybe more unemployment will put pressure on these developers to lower prices. just read on friday that california unemployment reached 8.2%, the highest its been in 14 years. not sure where most of this is concentrated, but i’m guessing all parts of so cal will be affected.

[ocrenter]

nybuyer, developers are already hurting because the banks are pulling line of credits from under them. that’s why some of the developers are actually taking offers for less than replacement cost. of course, some builders are more flexible than others. in the case of brookfield and cornerstone, knowing that they switched strategies and decided to build cheap knock-offs of their original grand productions do make it harder to bargain with them. so you are left with other builders that did not go that route.

generally, $100-$150k off latest discounted asking will likely be taken.

[ocrenter]

nybuyer, developers are already hurting because the banks are pulling line of credits from under them. that’s why some of the developers are actually taking offers for less than replacement cost. of course, some builders are more flexible than others. in the case of brookfield and cornerstone, knowing that they switched strategies and decided to build cheap knock-offs of their original grand productions do make it harder to bargain with them. so you are left with other builders that did not go that route.

generally, $100-$150k off latest discounted asking will likely be taken.

[ocrenter]

nybuyer, developers are already hurting because the banks are pulling line of credits from under them. that’s why some of the developers are actually taking offers for less than replacement cost. of course, some builders are more flexible than others. in the case of brookfield and cornerstone, knowing that they switched strategies and decided to build cheap knock-offs of their original grand productions do make it harder to bargain with them. so you are left with other builders that did not go that route.

generally, $100-$150k off latest discounted asking will likely be taken.

[ocrenter]

nybuyer, developers are already hurting because the banks are pulling line of credits from under them. that’s why some of the developers are actually taking offers for less than replacement cost. of course, some builders are more flexible than others. in the case of brookfield and cornerstone, knowing that they switched strategies and decided to build cheap knock-offs of their original grand productions do make it harder to bargain with them. so you are left with other builders that did not go that route.

generally, $100-$150k off latest discounted asking will likely be taken.

[ocrenter]

nybuyer, developers are already hurting because the banks are pulling line of credits from under them. that’s why some of the developers are actually taking offers for less than replacement cost. of course, some builders are more flexible than others. in the case of brookfield and cornerstone, knowing that they switched strategies and decided to build cheap knock-offs of their original grand productions do make it harder to bargain with them. so you are left with other builders that did not go that route.

generally, $100-$150k off latest discounted asking will likely be taken.

[paranoid]

any prediction on what the price will be or should be for serenity and montero, considering the increasing lay-offs and price falling everywhere?

[paranoid]

any prediction on what the price will be or should be for serenity and montero, considering the increasing lay-offs and price falling everywhere?

[paranoid]

any prediction on what the price will be or should be for serenity and montero, considering the increasing lay-offs and price falling everywhere?

[paranoid]

any prediction on what the price will be or should be for serenity and montero, considering the increasing lay-offs and price falling everywhere?

[paranoid]

any prediction on what the price will be or should be for serenity and montero, considering the increasing lay-offs and price falling everywhere?

[Anonymous]

Not so Mello, Roos…

Has anyone really thought about the true cost of these home in 4S and Stonebridge, not to mention Del Sur? I can tell you the one reason most of these beautiful homes are not selling or are in foreclosure is because of those damn hellatious Mello Roo and high HOA fees.

For us, we could afford to buy in any of these great locations, but simply refuse to do so because of those fees. And some may think..Well, if you can afford it, you wouldn’t worry about the fees”. Well the reason we CAN afford it is because we haven’t and won’t make bad financial choices like paying Mello Roos because to us it’s simply throwing cash away.

Think about how much more home you could buy without them? And what the heck are they for anyway? Roads, Schools, Libraries, Parks? Come on! School’s are losing State funding this year, libraries are closing, roads suck and parks can’t afford to be watered.

If you take these non-tax-deductible Mello Roo and HOA fees and amortize them over say 15 years..you have a huge loss to add to any gain at the sale. Most of these bonds are for 30 years and can go up each year.

A 1-million dollar home in Stonebridge has an average Mello Roo of $5K per year and HOAs around $1,800. That’s (average) $6,800 a year, minimum. Were you to invest that same $6,800 a year in say a mere 4% account, you would have earned around $140K in 15 years. So go ahead and deduct that from your profit, at time of sale. BTW – 30 years @ 4% will be $400k that you could have stockpiled or invested someplace else. What a drag!!

Another way to look at it is that same $560 per month translates into a $100K home loan. Simply put, you can either buy up $100K someplace else without the Mello Roos and take the tax deduction or buy an investment property someplace and grow some real profits!

I just can’t stomach those fees..It’s just craziness..ONLY in CA!

http://bubbleinfo.squarespace.com/journal/2008/2/24/hoa-mello-roos-fees.html

[Anonymous]

Not so Mello, Roos…

Has anyone really thought about the true cost of these home in 4S and Stonebridge, not to mention Del Sur? I can tell you the one reason most of these beautiful homes are not selling or are in foreclosure is because of those damn hellatious Mello Roo and high HOA fees.

For us, we could afford to buy in any of these great locations, but simply refuse to do so because of those fees. And some may think..Well, if you can afford it, you wouldn’t worry about the fees”. Well the reason we CAN afford it is because we haven’t and won’t make bad financial choices like paying Mello Roos because to us it’s simply throwing cash away.

Think about how much more home you could buy without them? And what the heck are they for anyway? Roads, Schools, Libraries, Parks? Come on! School’s are losing State funding this year, libraries are closing, roads suck and parks can’t afford to be watered.

If you take these non-tax-deductible Mello Roo and HOA fees and amortize them over say 15 years..you have a huge loss to add to any gain at the sale. Most of these bonds are for 30 years and can go up each year.

A 1-million dollar home in Stonebridge has an average Mello Roo of $5K per year and HOAs around $1,800. That’s (average) $6,800 a year, minimum. Were you to invest that same $6,800 a year in say a mere 4% account, you would have earned around $140K in 15 years. So go ahead and deduct that from your profit, at time of sale. BTW – 30 years @ 4% will be $400k that you could have stockpiled or invested someplace else. What a drag!!

Another way to look at it is that same $560 per month translates into a $100K home loan. Simply put, you can either buy up $100K someplace else without the Mello Roos and take the tax deduction or buy an investment property someplace and grow some real profits!

I just can’t stomach those fees..It’s just craziness..ONLY in CA!

http://bubbleinfo.squarespace.com/journal/2008/2/24/hoa-mello-roos-fees.html

[Anonymous]

Not so Mello, Roos…

Has anyone really thought about the true cost of these home in 4S and Stonebridge, not to mention Del Sur? I can tell you the one reason most of these beautiful homes are not selling or are in foreclosure is because of those damn hellatious Mello Roo and high HOA fees.

For us, we could afford to buy in any of these great locations, but simply refuse to do so because of those fees. And some may think..Well, if you can afford it, you wouldn’t worry about the fees”. Well the reason we CAN afford it is because we haven’t and won’t make bad financial choices like paying Mello Roos because to us it’s simply throwing cash away.

Think about how much more home you could buy without them? And what the heck are they for anyway? Roads, Schools, Libraries, Parks? Come on! School’s are losing State funding this year, libraries are closing, roads suck and parks can’t afford to be watered.

If you take these non-tax-deductible Mello Roo and HOA fees and amortize them over say 15 years..you have a huge loss to add to any gain at the sale. Most of these bonds are for 30 years and can go up each year.

A 1-million dollar home in Stonebridge has an average Mello Roo of $5K per year and HOAs around $1,800. That’s (average) $6,800 a year, minimum. Were you to invest that same $6,800 a year in say a mere 4% account, you would have earned around $140K in 15 years. So go ahead and deduct that from your profit, at time of sale. BTW – 30 years @ 4% will be $400k that you could have stockpiled or invested someplace else. What a drag!!

Another way to look at it is that same $560 per month translates into a $100K home loan. Simply put, you can either buy up $100K someplace else without the Mello Roos and take the tax deduction or buy an investment property someplace and grow some real profits!

I just can’t stomach those fees..It’s just craziness..ONLY in CA!

http://bubbleinfo.squarespace.com/journal/2008/2/24/hoa-mello-roos-fees.html

[Anonymous]

Not so Mello, Roos…

Has anyone really thought about the true cost of these home in 4S and Stonebridge, not to mention Del Sur? I can tell you the one reason most of these beautiful homes are not selling or are in foreclosure is because of those damn hellatious Mello Roo and high HOA fees.

For us, we could afford to buy in any of these great locations, but simply refuse to do so because of those fees. And some may think..Well, if you can afford it, you wouldn’t worry about the fees”. Well the reason we CAN afford it is because we haven’t and won’t make bad financial choices like paying Mello Roos because to us it’s simply throwing cash away.

Think about how much more home you could buy without them? And what the heck are they for anyway? Roads, Schools, Libraries, Parks? Come on! School’s are losing State funding this year, libraries are closing, roads suck and parks can’t afford to be watered.

If you take these non-tax-deductible Mello Roo and HOA fees and amortize them over say 15 years..you have a huge loss to add to any gain at the sale. Most of these bonds are for 30 years and can go up each year.

A 1-million dollar home in Stonebridge has an average Mello Roo of $5K per year and HOAs around $1,800. That’s (average) $6,800 a year, minimum. Were you to invest that same $6,800 a year in say a mere 4% account, you would have earned around $140K in 15 years. So go ahead and deduct that from your profit, at time of sale. BTW – 30 years @ 4% will be $400k that you could have stockpiled or invested someplace else. What a drag!!

Another way to look at it is that same $560 per month translates into a $100K home loan. Simply put, you can either buy up $100K someplace else without the Mello Roos and take the tax deduction or buy an investment property someplace and grow some real profits!

I just can’t stomach those fees..It’s just craziness..ONLY in CA!

http://bubbleinfo.squarespace.com/journal/2008/2/24/hoa-mello-roos-fees.html

[Author]

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