[SD Realtor]

I will try to help. Forgive my answers if they are vague…

First I am going to lump 1 and 2 into the same answer…Here are the questions:

1. Do Mello Roos (MR) fees actually go down the longer you live in a community?
2. What could cause Mello Roos fees to go up (would the inability to build out/sell out in a community such as 4s ranch cause a spike in fees)?

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Recall – MR provides local government an additional financing tool for infrastructure development. A Mello-Roos district is an area where a special tax is imposed on real property owners within a Community Facilities District. The Community Facilities Districe has chosen to seek public financing through the sale of bonds for the purpose of infrastructure development. The tax you pay is used to make the payments of principal and interest on the bonds.

So first off, there is no limit on the MR taxes. Unlike prop 13, which does provide a limit based on the value of the property, NR taxes are generally equally and uniformly applied to all properties in the district.

So how long does MR stay in effect? The tax stays in effect as long as it is needed to pay the expenses of the services OR until the principal and interest on the bonds are paid off along with ANY reasonable administrative costs incurred in collecting the MR tax…the maximum time for MR is 40 years…

My point is… don’t count on them going away or going down. The point is that they need to cover the services for which they were set for and those services in some cases may be on going and can include police protection, fire protection, ambulance and paramedic services, recreation program services, library services, the operation and maintenance of parks, parkways and open space, museums, cultural facilities, flood and storm protection, and services for the removal of any threatening hazardous substance. Facilities which may be financed under the Act include: Property with an estimated useful life of five years or longer, parks, recreation facilities, parkway facilities, open-space facilities, elementary and secondary school sites and structures, libraries, child care facilities, natural gas pipeline facilities, telephone lines, facilities to transmit and distribute electrical energy, cable television lines, and others… Aye caramba!!!

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What would cost more over 30 years–the MR fees one pays on a 600k home or purchasing a home that is 70-80k more in a community w/o MR fees? This maybe basic math, but are there other things I’m not considering besides the type of loan and the rate one gets on the loan?

Well not accounting for inflation… Lets say your MR was 1%…okay I will be nice… say .8% on 600k. So that is 4800 bones yeah? okay so 30 * 4800 is what 144k? So that also assumes they do not go up or down and probably does not answer your question about whether it is worth it to buy a home that is 70-80k more. Like you said, lots of angles to consider given your financing, inflation, etc…Sit down with your realtor and run all the numbers.

Can one write off MR fees?

Well ask your accountant. Technically the answer is no if it is a primary owned home. However I would bet 95% of all homeowners that pay MR and live in the home write them off…PLEASE NOTE I AM NOT ADVISING YOU IN ANY WAY SHAPE OR FORM ABOUT DECLARING MR OR NOT.

Also I just regurgitated all the MR stuff above by looking on line for a few minutes…

[SD Realtor]

Bob I grudgingly agree… I am not so sure that it is not more of being at the right place at the right time though… seriously, I think you could stick a blind guy who was deaf in at coordinator for that Dallas squad and he couldn’t lose many games. That offensive line, Emmit, the coke fiend, oops I mean the play maker, novacek, moose…holy smokes that team was scary good… Yeah Norv was a part of it but wowsers… not a bad squad to work with… specially that line… He did improve Alex Smith’s numbers but I think Frank Gore had more to do with it then Norv did… Anyways the numbers bear your argument but I am not convinced…

SD Realtor

[SD Realtor]

There is also this really cool book you can buy that explains how you can never pay taxes either! You can also buy this book called Ask Lesco who helps you figure out other ways how to con the government out of more money…

Soon you can be an undocumented alien and get a loan to go to school in the US!

Yay for social anarchy!!!!

SD Realtor

[SD Realtor]

Tomorrow if I have time I will write out the current NODs of attached homes in 92130 from this month. When I first talked to fish tank lady she punted me when I told her I didn’t think she would get more then 465k for her place…That was a way overly generous evaluation. I would absolutely agree with your assessment.

Remember though… fishtank lady has serious feng shui and she does believe a rapid turnaround in 08…

SD Realtor

[SD Realtor]

If you can, try to negotiate a few months rent. What they have offered you is kind of paltry in my opinion. Think about it this way… First off you can ask for a credit from many sellers right now for covering closing costs including a point to buy down your loan. As the market continues to depreciate that will not go away and in fact it will likely improve. Similarly you can most likely find commission rebates from places like Zip or other brokerages that will add more money in your pocket. The potential for decline is much more then 5-10%, ESPECIALLY in neighborhoods like North Park and I will eat my chargers cap if downtown doesn’t fall by more then 10% between now and whenever the bottom of this mess happens.

SD Realtor

[SD Realtor]

FLU sorry man was not EVEN trying to rail on you buddy…believe it or not I was referring to the Bringing Down the House book…if you haven’t read it please do cuz it is a VERY fun book.

I would LOVE to have lived that guys life for a few minutes… As you have read I am not afraid to throw down a wager on football here and there…. So to say I really enjoy a good game of poker/craps/blackjack is an understatement. My take on Ivy league is that the majority of these people are really smart… so much so that making money to many of them is more of a game then anything else… if they really HAVE to, they can fall back on working… but why work hard when it is so easy to make money other ways?

D Realtor

[SD Realtor]

Good to hear back from you tg….

About 15 years ago my buddy and I did a Waynes world type of cable show on public access (time warner cable)…it was awesome… we bs’d about sports for 1/2 hour and got to watch ourselves on tv… life was good…

I cannot even begin to answer the question about where would I spend my off time from Princeton if I was a young attractive girl… that answer is to loaded… You know how we all think there is this little room somewhere in Manhattan where 7 people sit around and basically manipulate the entire stock market? Well there is another area in the ether where attractive girls hang out at and pretty much run the world… (Remember the Seinfeld episode with the secret club that George found?)

Luckily I started this thread so I believe I have sufficiently destroyed it…

tg you missed yet another very well populated day at dog beach this past sunday. I was there early in the day and then worked with some clients the rest of the day and watched the tivo of the chargers in solace late that night…afterwards I actually woke up my wife to tell her how disgusted I was with them…

that didn’t go over to well…

[SD Realtor]

sdcellar you are correct… I was corrected a few months back about Westview as well by Manmom… I have not personally checked but I heard Westview is a quality school.

SD Realtor

[SD Realtor]

Hey Allan –

Dont forget they (the ivy leaguers) are pretty good at counting cards as well…

SD Realtor

[SD Realtor]

My advice is that I would not rent in a home that is going to be for sale or could be for sale imminently. Similar thoughts for a home that will be possibly foreclosing. Unless moving is easy for you (if you are single, no kids, and don’t mind moving) then I would pass. Otherwise go for it but be ready to move…

SD Realtor

[SD Realtor]

Been a rough few days for San Diego sports fans…

tg are you out there?

It was really wierd but after watching the Padres pen mow down the Rocks lineup with hard stuff for 6 innings, I had this REALLY ominous feeling when Trevor came in and promptly went 2-0 to Matsui… I just felt like he was gonna get rocked…. Anyways looking back I think Buddy played the whole last game scenario poorly. Saving Peavy for the rocks seemed sound on the surface, however looking at the statistics, the Rockies hit Peavy better then ANY other opponent Peavy has faced. It just seemed to make more sense to me to have Peavy throw his darts at the Brew crew on Sunday but what do I know. Trevor has served the Pads well but I really do hope he chooses to retire gracefully.

I have bad news…repeat after me… Cowher will NEVER EVER be a Chargers coach. No way is this an AJ guy. Believe me I would love him to be our coach but I just don’t see it… It would represent a fundamental shift in the AJ way or the highway… I have been wrong on alot of things so hopefully this is another one…

Alan I had Sunday nights KB on Tivo and it was Market Garden and Pelilu… WOW… that is all I have to say…Agreed on all of your points… Also it has not been mentioned but I like Kiffin… One of the best things he did was to make peace with Porter who seems to want to play football again. Him and Curry are a formidable set of wrs…Didn’t check to see if your RB is hurt bad or not…I am not as much a Raider hater as most Charger fans… in some perverse way I like to see them either do really good or really bad.

SD Realtor

[SD Realtor]

pod it has not been unlike wwII… to much ken burns for me lately… I may be winning the war but suffering many casualties..

SD Realtor

[SD Realtor]

FLU I was looking at the NOD/NOT/REO report for the past month for 92130. Sooooooooo many attached homes are in trouble there. Fish tank lady is not the only one in trouble.

Good find my friend.

SD Realtor

[SD Realtor]

Well FLU somehow I think you will survive. I would assume you are in for the long run.

You seem to be a cut above the rest and your moves on the market seemed to do you pretty well…

SD Realtor

[SD Realtor]

FLU you still have the best name on the board… Also I have a feeling that you didn’t pay 800-900k for your Torrey Hills home…. I think you are bit to savy for that move my friend…

On the other hand I know of a great Carmel Valley condo for you…It even comes with a fish!

SD Realtor

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