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

[SD Realtor]

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

[sdrealtor]

I say anyone who bought one of the last of those Davidson beauties when they were dumping them at the end of year defitinely caught a nice window of opportunity to get a great new home that may not come again. Kudos to any of you that had to foresight to do so……..

[sdrealtor]

I say anyone who bought one of the last of those Davidson beauties when they were dumping them at the end of year defitinely caught a nice window of opportunity to get a great new home that may not come again. Kudos to any of you that had to foresight to do so……..

[sdrealtor]

I say anyone who bought one of the last of those Davidson beauties when they were dumping them at the end of year defitinely caught a nice window of opportunity to get a great new home that may not come again. Kudos to any of you that had to foresight to do so……..

[sdrealtor]

I say anyone who bought one of the last of those Davidson beauties when they were dumping them at the end of year defitinely caught a nice window of opportunity to get a great new home that may not come again. Kudos to any of you that had to foresight to do so……..

[sdrealtor]

I say anyone who bought one of the last of those Davidson beauties when they were dumping them at the end of year defitinely caught a nice window of opportunity to get a great new home that may not come again. Kudos to any of you that had to foresight to do so……..

[Anonymous]

Brian- Thanks for the news flash, but I already am well aware – I am a tax accountant by trade and I have constant contact with the FTB and IRS, who are also both well aware.

I do not include my tax clients Mello Roos payments in their returns because they ARE NOT tax deductible. And you are correct..it’s not 100% right, it’s 100% wrong..

As for the infrastructure cost: “a deduction is not allowed where a tax is assessed against property to fund local benefits and improvements tending to increase the value of property, unless such tax is specifically allocable to maintenance or interest expenses. Local benefits include streets, sidewalks, and other like improvements.”

On another note: many of these homes are above the 1 million threshold anyway, and most of my clients who can afford to buy these type of homes are already limited in itemizing due to their higher incomes. So they truly don’t get the full deduction either way.

The debate over right or wrong to deduct is a similar debate one can have about speeding on the freeway. We all know the limit, but we take the risk and go above that limit irrespective of getting caught. Most buyers know that they cannot deduct Mello Roos, but they take the risk of possibly being audited and do it anyway.

[Anonymous]

Brian- Thanks for the news flash, but I already am well aware – I am a tax accountant by trade and I have constant contact with the FTB and IRS, who are also both well aware.

I do not include my tax clients Mello Roos payments in their returns because they ARE NOT tax deductible. And you are correct..it’s not 100% right, it’s 100% wrong..

As for the infrastructure cost: “a deduction is not allowed where a tax is assessed against property to fund local benefits and improvements tending to increase the value of property, unless such tax is specifically allocable to maintenance or interest expenses. Local benefits include streets, sidewalks, and other like improvements.”

On another note: many of these homes are above the 1 million threshold anyway, and most of my clients who can afford to buy these type of homes are already limited in itemizing due to their higher incomes. So they truly don’t get the full deduction either way.

The debate over right or wrong to deduct is a similar debate one can have about speeding on the freeway. We all know the limit, but we take the risk and go above that limit irrespective of getting caught. Most buyers know that they cannot deduct Mello Roos, but they take the risk of possibly being audited and do it anyway.

[Anonymous]

Brian- Thanks for the news flash, but I already am well aware – I am a tax accountant by trade and I have constant contact with the FTB and IRS, who are also both well aware.

I do not include my tax clients Mello Roos payments in their returns because they ARE NOT tax deductible. And you are correct..it’s not 100% right, it’s 100% wrong..

As for the infrastructure cost: “a deduction is not allowed where a tax is assessed against property to fund local benefits and improvements tending to increase the value of property, unless such tax is specifically allocable to maintenance or interest expenses. Local benefits include streets, sidewalks, and other like improvements.”

On another note: many of these homes are above the 1 million threshold anyway, and most of my clients who can afford to buy these type of homes are already limited in itemizing due to their higher incomes. So they truly don’t get the full deduction either way.

The debate over right or wrong to deduct is a similar debate one can have about speeding on the freeway. We all know the limit, but we take the risk and go above that limit irrespective of getting caught. Most buyers know that they cannot deduct Mello Roos, but they take the risk of possibly being audited and do it anyway.

[Anonymous]

Brian- Thanks for the news flash, but I already am well aware – I am a tax accountant by trade and I have constant contact with the FTB and IRS, who are also both well aware.

I do not include my tax clients Mello Roos payments in their returns because they ARE NOT tax deductible. And you are correct..it’s not 100% right, it’s 100% wrong..

As for the infrastructure cost: “a deduction is not allowed where a tax is assessed against property to fund local benefits and improvements tending to increase the value of property, unless such tax is specifically allocable to maintenance or interest expenses. Local benefits include streets, sidewalks, and other like improvements.”

On another note: many of these homes are above the 1 million threshold anyway, and most of my clients who can afford to buy these type of homes are already limited in itemizing due to their higher incomes. So they truly don’t get the full deduction either way.

The debate over right or wrong to deduct is a similar debate one can have about speeding on the freeway. We all know the limit, but we take the risk and go above that limit irrespective of getting caught. Most buyers know that they cannot deduct Mello Roos, but they take the risk of possibly being audited and do it anyway.

[Anonymous]

Brian- Thanks for the news flash, but I already am well aware – I am a tax accountant by trade and I have constant contact with the FTB and IRS, who are also both well aware.

I do not include my tax clients Mello Roos payments in their returns because they ARE NOT tax deductible. And you are correct..it’s not 100% right, it’s 100% wrong..

As for the infrastructure cost: “a deduction is not allowed where a tax is assessed against property to fund local benefits and improvements tending to increase the value of property, unless such tax is specifically allocable to maintenance or interest expenses. Local benefits include streets, sidewalks, and other like improvements.”

On another note: many of these homes are above the 1 million threshold anyway, and most of my clients who can afford to buy these type of homes are already limited in itemizing due to their higher incomes. So they truly don’t get the full deduction either way.

The debate over right or wrong to deduct is a similar debate one can have about speeding on the freeway. We all know the limit, but we take the risk and go above that limit irrespective of getting caught. Most buyers know that they cannot deduct Mello Roos, but they take the risk of possibly being audited and do it anyway.

[HomeShopping]

I think that sdrealtor is referring to the homes at Scripps Preserve listed below:

3-12-09 15572 Via La Ventana $735K
3-02-09 15533 Mission Preserve Pl $750K
3-30-09 15581 Via La Ventana $798K

Those are some nice homes, ranging from 4600-5800 sf. Lot sizes averaged around 16,000 sf.

I think at those prices that Davidson may have sold below cost. I agree that we may not see those kinds of prices ever again.

If only the community were not so far from the freeway …

[HomeShopping]

I think that sdrealtor is referring to the homes at Scripps Preserve listed below:

3-12-09 15572 Via La Ventana $735K
3-02-09 15533 Mission Preserve Pl $750K
3-30-09 15581 Via La Ventana $798K

Those are some nice homes, ranging from 4600-5800 sf. Lot sizes averaged around 16,000 sf.

I think at those prices that Davidson may have sold below cost. I agree that we may not see those kinds of prices ever again.

If only the community were not so far from the freeway …

[HomeShopping]

I think that sdrealtor is referring to the homes at Scripps Preserve listed below:

3-12-09 15572 Via La Ventana $735K
3-02-09 15533 Mission Preserve Pl $750K
3-30-09 15581 Via La Ventana $798K

Those are some nice homes, ranging from 4600-5800 sf. Lot sizes averaged around 16,000 sf.

I think at those prices that Davidson may have sold below cost. I agree that we may not see those kinds of prices ever again.

If only the community were not so far from the freeway …

[HomeShopping]

I think that sdrealtor is referring to the homes at Scripps Preserve listed below:

3-12-09 15572 Via La Ventana $735K
3-02-09 15533 Mission Preserve Pl $750K
3-30-09 15581 Via La Ventana $798K

Those are some nice homes, ranging from 4600-5800 sf. Lot sizes averaged around 16,000 sf.

I think at those prices that Davidson may have sold below cost. I agree that we may not see those kinds of prices ever again.

If only the community were not so far from the freeway …

[Author]

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