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bearishgurl
Participant[quote=ocrenter] . . . I do believe the buyer will likely have to end up paying the unpaid property tax.[/quote]
And that tax will include exorbitant (unpaid) Mello-Roos.
Participant[quote=ocrenter] . . . I do believe the buyer will likely have to end up paying the unpaid property tax.[/quote]
And that tax will include exorbitant (unpaid) Mello-Roos.
Participant[quote=pemeliza][quote-threadkiller]I also know someone that makes $90k has that much saved up in cash and cannot afford to buy a new SFH in San Diego.[/quote]TK, why the insistence on buying new? There are plenty of older homes in better locations that your friend could buy with a monthly nut cheaper than renting after deductions. The other option is to buy a new home at an affordable price but in a further out location and deal with the longer commute. Just because one buyer cannot buy exactly what they want where they want it does not mean there are not plenty of options available to a buyer who is willing to make a few compromises.[/quote]
[quote=wooga]Why is it assumed that the average buyer should be able to afford a new, detached home? Somebody has to buy used homes, and even new condos. At any given time, I would assume that the portion of ‘new house’ listings is pretty small compared to new/used condos and used houses…[/quote]
Agree with both pemeliza and wooga here. I cannot wrap my head around why someone would pay a premium price for new construction (often without any nearby sold comps to justify its asking prices) when there is SO MUCH choice out there in far more desirable locations! It doesn’t make sense to me, at all.
Participant[quote=pemeliza][quote-threadkiller]I also know someone that makes $90k has that much saved up in cash and cannot afford to buy a new SFH in San Diego.[/quote]TK, why the insistence on buying new? There are plenty of older homes in better locations that your friend could buy with a monthly nut cheaper than renting after deductions. The other option is to buy a new home at an affordable price but in a further out location and deal with the longer commute. Just because one buyer cannot buy exactly what they want where they want it does not mean there are not plenty of options available to a buyer who is willing to make a few compromises.[/quote]
[quote=wooga]Why is it assumed that the average buyer should be able to afford a new, detached home? Somebody has to buy used homes, and even new condos. At any given time, I would assume that the portion of ‘new house’ listings is pretty small compared to new/used condos and used houses…[/quote]
Agree with both pemeliza and wooga here. I cannot wrap my head around why someone would pay a premium price for new construction (often without any nearby sold comps to justify its asking prices) when there is SO MUCH choice out there in far more desirable locations! It doesn’t make sense to me, at all.
Participant[quote=pemeliza][quote-threadkiller]I also know someone that makes $90k has that much saved up in cash and cannot afford to buy a new SFH in San Diego.[/quote]TK, why the insistence on buying new? There are plenty of older homes in better locations that your friend could buy with a monthly nut cheaper than renting after deductions. The other option is to buy a new home at an affordable price but in a further out location and deal with the longer commute. Just because one buyer cannot buy exactly what they want where they want it does not mean there are not plenty of options available to a buyer who is willing to make a few compromises.[/quote]
[quote=wooga]Why is it assumed that the average buyer should be able to afford a new, detached home? Somebody has to buy used homes, and even new condos. At any given time, I would assume that the portion of ‘new house’ listings is pretty small compared to new/used condos and used houses…[/quote]
Agree with both pemeliza and wooga here. I cannot wrap my head around why someone would pay a premium price for new construction (often without any nearby sold comps to justify its asking prices) when there is SO MUCH choice out there in far more desirable locations! It doesn’t make sense to me, at all.
Participant[quote=pemeliza][quote-threadkiller]I also know someone that makes $90k has that much saved up in cash and cannot afford to buy a new SFH in San Diego.[/quote]TK, why the insistence on buying new? There are plenty of older homes in better locations that your friend could buy with a monthly nut cheaper than renting after deductions. The other option is to buy a new home at an affordable price but in a further out location and deal with the longer commute. Just because one buyer cannot buy exactly what they want where they want it does not mean there are not plenty of options available to a buyer who is willing to make a few compromises.[/quote]
[quote=wooga]Why is it assumed that the average buyer should be able to afford a new, detached home? Somebody has to buy used homes, and even new condos. At any given time, I would assume that the portion of ‘new house’ listings is pretty small compared to new/used condos and used houses…[/quote]
Agree with both pemeliza and wooga here. I cannot wrap my head around why someone would pay a premium price for new construction (often without any nearby sold comps to justify its asking prices) when there is SO MUCH choice out there in far more desirable locations! It doesn’t make sense to me, at all.
Participant[quote=pemeliza][quote-threadkiller]I also know someone that makes $90k has that much saved up in cash and cannot afford to buy a new SFH in San Diego.[/quote]TK, why the insistence on buying new? There are plenty of older homes in better locations that your friend could buy with a monthly nut cheaper than renting after deductions. The other option is to buy a new home at an affordable price but in a further out location and deal with the longer commute. Just because one buyer cannot buy exactly what they want where they want it does not mean there are not plenty of options available to a buyer who is willing to make a few compromises.[/quote]
[quote=wooga]Why is it assumed that the average buyer should be able to afford a new, detached home? Somebody has to buy used homes, and even new condos. At any given time, I would assume that the portion of ‘new house’ listings is pretty small compared to new/used condos and used houses…[/quote]
Agree with both pemeliza and wooga here. I cannot wrap my head around why someone would pay a premium price for new construction (often without any nearby sold comps to justify its asking prices) when there is SO MUCH choice out there in far more desirable locations! It doesn’t make sense to me, at all.
Participant[quote=briansd1][quote=EconProf]
What has stayed the same is the costly burden of government. If you haven’t built or put on an addition, you have no idea of the wasteful burden put on builders, which must be passed on to the consumer. [/quote]I do agree with EconProf on this.
The burden of government also makes it nearly impossible for the city to grow organically and for the homeowners to easily add-on as they need. If you have a large lot and want to split the lot for resale or new construction, good luck with that.[/quote]
If your lot is large enough to be splittable in any city in the County of SD or within the county area, has enough flat buildable land on each proposed parcel and each proposed parcel has egress/ingress to a public road, the government WILL do it after proper procedure has been followed, including survey and engineering. HOWEVER, it can cost $12K to $25K to do this, depending on prevailing issues. Including the MWD “bribe” of $7K plus to bring water lines to a parcel that may not have any, splitting your lot may or may not be cost effective. Lots without utils have a much lesser value than lots where utils are already present.
In desirable urban areas, the HARD part of splitting your lot is notifying ALL the landowners within 300 feet of the proposed lot split and waiting for their objections or see if they force a hearing on the matter. As a lot-split applicant, you will have to come up with a PALATABLE solution as to what you will do with the proposed lot. No matter what the old “grandfathered” zoning was for the area, you can rest assured that your neighbors will likely reject multifamily dwellings, “granny flats,” businesses and the like and their comments will likely influence the council or supervisors. If you only want to sell the other parcel to let someone else develop it, your neighbors will be all over the prevailing codes in attempt to downzone the proposed parcel, if necesssary.
Expect the process to take 1-2 years.
Participant[quote=briansd1][quote=EconProf]
What has stayed the same is the costly burden of government. If you haven’t built or put on an addition, you have no idea of the wasteful burden put on builders, which must be passed on to the consumer. [/quote]I do agree with EconProf on this.
The burden of government also makes it nearly impossible for the city to grow organically and for the homeowners to easily add-on as they need. If you have a large lot and want to split the lot for resale or new construction, good luck with that.[/quote]
If your lot is large enough to be splittable in any city in the County of SD or within the county area, has enough flat buildable land on each proposed parcel and each proposed parcel has egress/ingress to a public road, the government WILL do it after proper procedure has been followed, including survey and engineering. HOWEVER, it can cost $12K to $25K to do this, depending on prevailing issues. Including the MWD “bribe” of $7K plus to bring water lines to a parcel that may not have any, splitting your lot may or may not be cost effective. Lots without utils have a much lesser value than lots where utils are already present.
In desirable urban areas, the HARD part of splitting your lot is notifying ALL the landowners within 300 feet of the proposed lot split and waiting for their objections or see if they force a hearing on the matter. As a lot-split applicant, you will have to come up with a PALATABLE solution as to what you will do with the proposed lot. No matter what the old “grandfathered” zoning was for the area, you can rest assured that your neighbors will likely reject multifamily dwellings, “granny flats,” businesses and the like and their comments will likely influence the council or supervisors. If you only want to sell the other parcel to let someone else develop it, your neighbors will be all over the prevailing codes in attempt to downzone the proposed parcel, if necesssary.
Expect the process to take 1-2 years.
Participant[quote=briansd1][quote=EconProf]
What has stayed the same is the costly burden of government. If you haven’t built or put on an addition, you have no idea of the wasteful burden put on builders, which must be passed on to the consumer. [/quote]I do agree with EconProf on this.
The burden of government also makes it nearly impossible for the city to grow organically and for the homeowners to easily add-on as they need. If you have a large lot and want to split the lot for resale or new construction, good luck with that.[/quote]
If your lot is large enough to be splittable in any city in the County of SD or within the county area, has enough flat buildable land on each proposed parcel and each proposed parcel has egress/ingress to a public road, the government WILL do it after proper procedure has been followed, including survey and engineering. HOWEVER, it can cost $12K to $25K to do this, depending on prevailing issues. Including the MWD “bribe” of $7K plus to bring water lines to a parcel that may not have any, splitting your lot may or may not be cost effective. Lots without utils have a much lesser value than lots where utils are already present.
In desirable urban areas, the HARD part of splitting your lot is notifying ALL the landowners within 300 feet of the proposed lot split and waiting for their objections or see if they force a hearing on the matter. As a lot-split applicant, you will have to come up with a PALATABLE solution as to what you will do with the proposed lot. No matter what the old “grandfathered” zoning was for the area, you can rest assured that your neighbors will likely reject multifamily dwellings, “granny flats,” businesses and the like and their comments will likely influence the council or supervisors. If you only want to sell the other parcel to let someone else develop it, your neighbors will be all over the prevailing codes in attempt to downzone the proposed parcel, if necesssary.
Expect the process to take 1-2 years.
Participant[quote=briansd1][quote=EconProf]
What has stayed the same is the costly burden of government. If you haven’t built or put on an addition, you have no idea of the wasteful burden put on builders, which must be passed on to the consumer. [/quote]I do agree with EconProf on this.
The burden of government also makes it nearly impossible for the city to grow organically and for the homeowners to easily add-on as they need. If you have a large lot and want to split the lot for resale or new construction, good luck with that.[/quote]
If your lot is large enough to be splittable in any city in the County of SD or within the county area, has enough flat buildable land on each proposed parcel and each proposed parcel has egress/ingress to a public road, the government WILL do it after proper procedure has been followed, including survey and engineering. HOWEVER, it can cost $12K to $25K to do this, depending on prevailing issues. Including the MWD “bribe” of $7K plus to bring water lines to a parcel that may not have any, splitting your lot may or may not be cost effective. Lots without utils have a much lesser value than lots where utils are already present.
In desirable urban areas, the HARD part of splitting your lot is notifying ALL the landowners within 300 feet of the proposed lot split and waiting for their objections or see if they force a hearing on the matter. As a lot-split applicant, you will have to come up with a PALATABLE solution as to what you will do with the proposed lot. No matter what the old “grandfathered” zoning was for the area, you can rest assured that your neighbors will likely reject multifamily dwellings, “granny flats,” businesses and the like and their comments will likely influence the council or supervisors. If you only want to sell the other parcel to let someone else develop it, your neighbors will be all over the prevailing codes in attempt to downzone the proposed parcel, if necesssary.
Expect the process to take 1-2 years.
Participant[quote=briansd1][quote=EconProf]
What has stayed the same is the costly burden of government. If you haven’t built or put on an addition, you have no idea of the wasteful burden put on builders, which must be passed on to the consumer. [/quote]I do agree with EconProf on this.
The burden of government also makes it nearly impossible for the city to grow organically and for the homeowners to easily add-on as they need. If you have a large lot and want to split the lot for resale or new construction, good luck with that.[/quote]
If your lot is large enough to be splittable in any city in the County of SD or within the county area, has enough flat buildable land on each proposed parcel and each proposed parcel has egress/ingress to a public road, the government WILL do it after proper procedure has been followed, including survey and engineering. HOWEVER, it can cost $12K to $25K to do this, depending on prevailing issues. Including the MWD “bribe” of $7K plus to bring water lines to a parcel that may not have any, splitting your lot may or may not be cost effective. Lots without utils have a much lesser value than lots where utils are already present.
In desirable urban areas, the HARD part of splitting your lot is notifying ALL the landowners within 300 feet of the proposed lot split and waiting for their objections or see if they force a hearing on the matter. As a lot-split applicant, you will have to come up with a PALATABLE solution as to what you will do with the proposed lot. No matter what the old “grandfathered” zoning was for the area, you can rest assured that your neighbors will likely reject multifamily dwellings, “granny flats,” businesses and the like and their comments will likely influence the council or supervisors. If you only want to sell the other parcel to let someone else develop it, your neighbors will be all over the prevailing codes in attempt to downzone the proposed parcel, if necesssary.
Expect the process to take 1-2 years.
Participant…And of the nation’s 300,000 homeowners’ associations, more than 50 percent now face “serious financial problems,” according to a September survey by the Community Association Institute. An October survey found that 65 percent of homeowners’ associations have delinquency rates higher than 5 percent, up from 19 percent of associations in 2005…
Very enlightening article, jp. I’ve long suspected this phenomenon.
Participant…And of the nation’s 300,000 homeowners’ associations, more than 50 percent now face “serious financial problems,” according to a September survey by the Community Association Institute. An October survey found that 65 percent of homeowners’ associations have delinquency rates higher than 5 percent, up from 19 percent of associations in 2005…
Very enlightening article, jp. I’ve long suspected this phenomenon.
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