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

[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

[PadreBrian]

Hate to break the news, but 99% of the Mello Roo payers just report the taxes paid that is reported by the bank on your 1098 form they mail in February. Which is includes both taxes. I know it’s not 100% right, because you have to deduct the infrastructure costs out of the MR, but that’s what is being done.

[PadreBrian]

Hate to break the news, but 99% of the Mello Roo payers just report the taxes paid that is reported by the bank on your 1098 form they mail in February. Which is includes both taxes. I know it’s not 100% right, because you have to deduct the infrastructure costs out of the MR, but that’s what is being done.

[PadreBrian]

Hate to break the news, but 99% of the Mello Roo payers just report the taxes paid that is reported by the bank on your 1098 form they mail in February. Which is includes both taxes. I know it’s not 100% right, because you have to deduct the infrastructure costs out of the MR, but that’s what is being done.

[PadreBrian]

Hate to break the news, but 99% of the Mello Roo payers just report the taxes paid that is reported by the bank on your 1098 form they mail in February. Which is includes both taxes. I know it’s not 100% right, because you have to deduct the infrastructure costs out of the MR, but that’s what is being done.

[PadreBrian]

Hate to break the news, but 99% of the Mello Roo payers just report the taxes paid that is reported by the bank on your 1098 form they mail in February. Which is includes both taxes. I know it’s not 100% right, because you have to deduct the infrastructure costs out of the MR, but that’s what is being done.

[ocrenter]

[quote=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?[/quote]

paranoid, I say $700k for serenity and montero.

[ocrenter]

[quote=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?[/quote]

paranoid, I say $700k for serenity and montero.

[ocrenter]

[quote=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?[/quote]

paranoid, I say $700k for serenity and montero.

[ocrenter]

[quote=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?[/quote]

paranoid, I say $700k for serenity and montero.

[ocrenter]

[quote=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?[/quote]

paranoid, I say $700k for serenity and montero.

[SD Realtor]

could be ocr but not in the near future. maybe fall of 2010.

[SD Realtor]

could be ocr but not in the near future. maybe fall of 2010.

[SD Realtor]

could be ocr but not in the near future. maybe fall of 2010.

[SD Realtor]

could be ocr but not in the near future. maybe fall of 2010.

[Author]

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