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SD Realtor
Participanthehehehe…. esmith you are cruel man…
SD Realtor
Participanthehehehe…. esmith you are cruel man…
SD Realtor
Participanthehehehe…. esmith you are cruel man…
SD Realtor
Participantjp – No offense taken at all. Actually I am a EE. I supervise a staff of digital designers and I am an architect for custom ASICs (computer chips) that are used in network applications. I have done that for about 20 years. In addition to supervising my staff I also architect the designs, assist in verification and write some of the source code used in designs. Oh yeah and I also own a real estate brokerage.
So when you talk about most realtors not being to far up the intelligence ladder, I think I know what you mean.
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Vagabondo I think prop 13 has accomplished the main goal of what it was intended which was essentiall to protect long time homeowners from the rapidly rising tax liability that they were being asked to support. In this sense I think it has been wildly successful. In my opinion Mello Roos fees are 100% up to the buyer, if they want to undertake them then no problem. If they don’t want to undertake them, so be it, they can buy somewhere else. Personally I choose not to pay them.
As far as the school systems are concerned I pretty much agree with your thoughts. I just am not so sure MR fees dictate a better school. It just doesn’t wash with me. As a parent with two toddlers I will be dealing with it soon. I also heartily agree that the decline in our schools is due to the sheer numbers of kids that attend them. Obviously the tax base cannot support those numbers so somewhere there is a problem. Could it be due to illegal immigration? Perhaps… I just don’t know. Perhaps teachers are underpaid or that there are simply not enough teachers or facilities, I am in agreement with you that somehow, somewhere there is a real screw up and the funds are simply not spent wisely or misallocated in some manner.
SD Realtor
Participantjp – No offense taken at all. Actually I am a EE. I supervise a staff of digital designers and I am an architect for custom ASICs (computer chips) that are used in network applications. I have done that for about 20 years. In addition to supervising my staff I also architect the designs, assist in verification and write some of the source code used in designs. Oh yeah and I also own a real estate brokerage.
So when you talk about most realtors not being to far up the intelligence ladder, I think I know what you mean.
******
Vagabondo I think prop 13 has accomplished the main goal of what it was intended which was essentiall to protect long time homeowners from the rapidly rising tax liability that they were being asked to support. In this sense I think it has been wildly successful. In my opinion Mello Roos fees are 100% up to the buyer, if they want to undertake them then no problem. If they don’t want to undertake them, so be it, they can buy somewhere else. Personally I choose not to pay them.
As far as the school systems are concerned I pretty much agree with your thoughts. I just am not so sure MR fees dictate a better school. It just doesn’t wash with me. As a parent with two toddlers I will be dealing with it soon. I also heartily agree that the decline in our schools is due to the sheer numbers of kids that attend them. Obviously the tax base cannot support those numbers so somewhere there is a problem. Could it be due to illegal immigration? Perhaps… I just don’t know. Perhaps teachers are underpaid or that there are simply not enough teachers or facilities, I am in agreement with you that somehow, somewhere there is a real screw up and the funds are simply not spent wisely or misallocated in some manner.
SD Realtor
Participantjp – No offense taken at all. Actually I am a EE. I supervise a staff of digital designers and I am an architect for custom ASICs (computer chips) that are used in network applications. I have done that for about 20 years. In addition to supervising my staff I also architect the designs, assist in verification and write some of the source code used in designs. Oh yeah and I also own a real estate brokerage.
So when you talk about most realtors not being to far up the intelligence ladder, I think I know what you mean.
******
Vagabondo I think prop 13 has accomplished the main goal of what it was intended which was essentiall to protect long time homeowners from the rapidly rising tax liability that they were being asked to support. In this sense I think it has been wildly successful. In my opinion Mello Roos fees are 100% up to the buyer, if they want to undertake them then no problem. If they don’t want to undertake them, so be it, they can buy somewhere else. Personally I choose not to pay them.
As far as the school systems are concerned I pretty much agree with your thoughts. I just am not so sure MR fees dictate a better school. It just doesn’t wash with me. As a parent with two toddlers I will be dealing with it soon. I also heartily agree that the decline in our schools is due to the sheer numbers of kids that attend them. Obviously the tax base cannot support those numbers so somewhere there is a problem. Could it be due to illegal immigration? Perhaps… I just don’t know. Perhaps teachers are underpaid or that there are simply not enough teachers or facilities, I am in agreement with you that somehow, somewhere there is a real screw up and the funds are simply not spent wisely or misallocated in some manner.
SD Realtor
Participantjp – No offense taken at all. Actually I am a EE. I supervise a staff of digital designers and I am an architect for custom ASICs (computer chips) that are used in network applications. I have done that for about 20 years. In addition to supervising my staff I also architect the designs, assist in verification and write some of the source code used in designs. Oh yeah and I also own a real estate brokerage.
So when you talk about most realtors not being to far up the intelligence ladder, I think I know what you mean.
******
Vagabondo I think prop 13 has accomplished the main goal of what it was intended which was essentiall to protect long time homeowners from the rapidly rising tax liability that they were being asked to support. In this sense I think it has been wildly successful. In my opinion Mello Roos fees are 100% up to the buyer, if they want to undertake them then no problem. If they don’t want to undertake them, so be it, they can buy somewhere else. Personally I choose not to pay them.
As far as the school systems are concerned I pretty much agree with your thoughts. I just am not so sure MR fees dictate a better school. It just doesn’t wash with me. As a parent with two toddlers I will be dealing with it soon. I also heartily agree that the decline in our schools is due to the sheer numbers of kids that attend them. Obviously the tax base cannot support those numbers so somewhere there is a problem. Could it be due to illegal immigration? Perhaps… I just don’t know. Perhaps teachers are underpaid or that there are simply not enough teachers or facilities, I am in agreement with you that somehow, somewhere there is a real screw up and the funds are simply not spent wisely or misallocated in some manner.
SD Realtor
Participantjp – No offense taken at all. Actually I am a EE. I supervise a staff of digital designers and I am an architect for custom ASICs (computer chips) that are used in network applications. I have done that for about 20 years. In addition to supervising my staff I also architect the designs, assist in verification and write some of the source code used in designs. Oh yeah and I also own a real estate brokerage.
So when you talk about most realtors not being to far up the intelligence ladder, I think I know what you mean.
******
Vagabondo I think prop 13 has accomplished the main goal of what it was intended which was essentiall to protect long time homeowners from the rapidly rising tax liability that they were being asked to support. In this sense I think it has been wildly successful. In my opinion Mello Roos fees are 100% up to the buyer, if they want to undertake them then no problem. If they don’t want to undertake them, so be it, they can buy somewhere else. Personally I choose not to pay them.
As far as the school systems are concerned I pretty much agree with your thoughts. I just am not so sure MR fees dictate a better school. It just doesn’t wash with me. As a parent with two toddlers I will be dealing with it soon. I also heartily agree that the decline in our schools is due to the sheer numbers of kids that attend them. Obviously the tax base cannot support those numbers so somewhere there is a problem. Could it be due to illegal immigration? Perhaps… I just don’t know. Perhaps teachers are underpaid or that there are simply not enough teachers or facilities, I am in agreement with you that somehow, somewhere there is a real screw up and the funds are simply not spent wisely or misallocated in some manner.
SD Realtor
ParticipantWell we haven’t had a Mello Roos discussion for a few weeks so let’s have at it.
Okay we can all sit here and bash Prop 13 because it is easy to do. Let’s try to focus on the facts which is admittedly hard.
Why did 13 come about? Well mainly because it was found that funding public school systems was based solely on property taxes was unconstitutional. What else was going on? Well as real estate valuations grew, tax assessments on property starting to hit fixed income and elderly hard. Imagine your grandma who paid 35k for a home in the 1960’s paying property tax bills based on a comp that was generated when her neighbor sold his home in 1977. Prior to Prop 13 rising property tax rates were a very real threat to people.
So prop 13 gets passed and in a nutshell it limits a 2% annual increase in assessed value of a home with a 1% tax rate. It is also a total boon for corps that hold commercial properties…talk about a major loophole…
We can sit here and toss back and forth the benefits/damage that prop 13 has done. In the 60’s California public schools were among the best in the country and now they rank much worse. Is that because of prop 13? Maybe and maybe not.
Overall my opinion is for residential props, prop 13 is good. They really blew it with regards to commercial property though… that is a post for another day.
So Mello Roos? What about them? I would advise people to google Mello Roos to find out more about them… it is not alot of work. Basically yes they are the civic answer to get funds to underwrite infrastructure due to the loss of revenue from property taxes. Simply put if it is unconstitutional to fund these improvements with a tax that is levied based on the value of a home, then this is a way to get around it. In some ways it is more equitable. Simply put, a Mello Roos district is created, the number of homes are totalled in the Mello Roos district, the cost of the infrastructure needed to support those homes is calculated, bonds are created to pay for that cost, and those living there who enjoy that infrastructure pay for it.
That is a way oversimplified version of course. Now… personally, no I will not purchase a home where I pay MR fees as it is against my grain. Like you guys I am so astounded with the incompetence of city/county/state leadership that my head pretty much explodes with every news release.
I just thought I would throw in my two cents here.
ParticipantWell we haven’t had a Mello Roos discussion for a few weeks so let’s have at it.
Okay we can all sit here and bash Prop 13 because it is easy to do. Let’s try to focus on the facts which is admittedly hard.
Why did 13 come about? Well mainly because it was found that funding public school systems was based solely on property taxes was unconstitutional. What else was going on? Well as real estate valuations grew, tax assessments on property starting to hit fixed income and elderly hard. Imagine your grandma who paid 35k for a home in the 1960’s paying property tax bills based on a comp that was generated when her neighbor sold his home in 1977. Prior to Prop 13 rising property tax rates were a very real threat to people.
So prop 13 gets passed and in a nutshell it limits a 2% annual increase in assessed value of a home with a 1% tax rate. It is also a total boon for corps that hold commercial properties…talk about a major loophole…
We can sit here and toss back and forth the benefits/damage that prop 13 has done. In the 60’s California public schools were among the best in the country and now they rank much worse. Is that because of prop 13? Maybe and maybe not.
Overall my opinion is for residential props, prop 13 is good. They really blew it with regards to commercial property though… that is a post for another day.
So Mello Roos? What about them? I would advise people to google Mello Roos to find out more about them… it is not alot of work. Basically yes they are the civic answer to get funds to underwrite infrastructure due to the loss of revenue from property taxes. Simply put if it is unconstitutional to fund these improvements with a tax that is levied based on the value of a home, then this is a way to get around it. In some ways it is more equitable. Simply put, a Mello Roos district is created, the number of homes are totalled in the Mello Roos district, the cost of the infrastructure needed to support those homes is calculated, bonds are created to pay for that cost, and those living there who enjoy that infrastructure pay for it.
That is a way oversimplified version of course. Now… personally, no I will not purchase a home where I pay MR fees as it is against my grain. Like you guys I am so astounded with the incompetence of city/county/state leadership that my head pretty much explodes with every news release.
I just thought I would throw in my two cents here.
ParticipantWell we haven’t had a Mello Roos discussion for a few weeks so let’s have at it.
Okay we can all sit here and bash Prop 13 because it is easy to do. Let’s try to focus on the facts which is admittedly hard.
Why did 13 come about? Well mainly because it was found that funding public school systems was based solely on property taxes was unconstitutional. What else was going on? Well as real estate valuations grew, tax assessments on property starting to hit fixed income and elderly hard. Imagine your grandma who paid 35k for a home in the 1960’s paying property tax bills based on a comp that was generated when her neighbor sold his home in 1977. Prior to Prop 13 rising property tax rates were a very real threat to people.
So prop 13 gets passed and in a nutshell it limits a 2% annual increase in assessed value of a home with a 1% tax rate. It is also a total boon for corps that hold commercial properties…talk about a major loophole…
We can sit here and toss back and forth the benefits/damage that prop 13 has done. In the 60’s California public schools were among the best in the country and now they rank much worse. Is that because of prop 13? Maybe and maybe not.
Overall my opinion is for residential props, prop 13 is good. They really blew it with regards to commercial property though… that is a post for another day.
So Mello Roos? What about them? I would advise people to google Mello Roos to find out more about them… it is not alot of work. Basically yes they are the civic answer to get funds to underwrite infrastructure due to the loss of revenue from property taxes. Simply put if it is unconstitutional to fund these improvements with a tax that is levied based on the value of a home, then this is a way to get around it. In some ways it is more equitable. Simply put, a Mello Roos district is created, the number of homes are totalled in the Mello Roos district, the cost of the infrastructure needed to support those homes is calculated, bonds are created to pay for that cost, and those living there who enjoy that infrastructure pay for it.
That is a way oversimplified version of course. Now… personally, no I will not purchase a home where I pay MR fees as it is against my grain. Like you guys I am so astounded with the incompetence of city/county/state leadership that my head pretty much explodes with every news release.
I just thought I would throw in my two cents here.
ParticipantWell we haven’t had a Mello Roos discussion for a few weeks so let’s have at it.
Okay we can all sit here and bash Prop 13 because it is easy to do. Let’s try to focus on the facts which is admittedly hard.
Why did 13 come about? Well mainly because it was found that funding public school systems was based solely on property taxes was unconstitutional. What else was going on? Well as real estate valuations grew, tax assessments on property starting to hit fixed income and elderly hard. Imagine your grandma who paid 35k for a home in the 1960’s paying property tax bills based on a comp that was generated when her neighbor sold his home in 1977. Prior to Prop 13 rising property tax rates were a very real threat to people.
So prop 13 gets passed and in a nutshell it limits a 2% annual increase in assessed value of a home with a 1% tax rate. It is also a total boon for corps that hold commercial properties…talk about a major loophole…
We can sit here and toss back and forth the benefits/damage that prop 13 has done. In the 60’s California public schools were among the best in the country and now they rank much worse. Is that because of prop 13? Maybe and maybe not.
Overall my opinion is for residential props, prop 13 is good. They really blew it with regards to commercial property though… that is a post for another day.
So Mello Roos? What about them? I would advise people to google Mello Roos to find out more about them… it is not alot of work. Basically yes they are the civic answer to get funds to underwrite infrastructure due to the loss of revenue from property taxes. Simply put if it is unconstitutional to fund these improvements with a tax that is levied based on the value of a home, then this is a way to get around it. In some ways it is more equitable. Simply put, a Mello Roos district is created, the number of homes are totalled in the Mello Roos district, the cost of the infrastructure needed to support those homes is calculated, bonds are created to pay for that cost, and those living there who enjoy that infrastructure pay for it.
That is a way oversimplified version of course. Now… personally, no I will not purchase a home where I pay MR fees as it is against my grain. Like you guys I am so astounded with the incompetence of city/county/state leadership that my head pretty much explodes with every news release.
I just thought I would throw in my two cents here.
ParticipantWell we haven’t had a Mello Roos discussion for a few weeks so let’s have at it.
Okay we can all sit here and bash Prop 13 because it is easy to do. Let’s try to focus on the facts which is admittedly hard.
Why did 13 come about? Well mainly because it was found that funding public school systems was based solely on property taxes was unconstitutional. What else was going on? Well as real estate valuations grew, tax assessments on property starting to hit fixed income and elderly hard. Imagine your grandma who paid 35k for a home in the 1960’s paying property tax bills based on a comp that was generated when her neighbor sold his home in 1977. Prior to Prop 13 rising property tax rates were a very real threat to people.
So prop 13 gets passed and in a nutshell it limits a 2% annual increase in assessed value of a home with a 1% tax rate. It is also a total boon for corps that hold commercial properties…talk about a major loophole…
We can sit here and toss back and forth the benefits/damage that prop 13 has done. In the 60’s California public schools were among the best in the country and now they rank much worse. Is that because of prop 13? Maybe and maybe not.
Overall my opinion is for residential props, prop 13 is good. They really blew it with regards to commercial property though… that is a post for another day.
So Mello Roos? What about them? I would advise people to google Mello Roos to find out more about them… it is not alot of work. Basically yes they are the civic answer to get funds to underwrite infrastructure due to the loss of revenue from property taxes. Simply put if it is unconstitutional to fund these improvements with a tax that is levied based on the value of a home, then this is a way to get around it. In some ways it is more equitable. Simply put, a Mello Roos district is created, the number of homes are totalled in the Mello Roos district, the cost of the infrastructure needed to support those homes is calculated, bonds are created to pay for that cost, and those living there who enjoy that infrastructure pay for it.
That is a way oversimplified version of course. Now… personally, no I will not purchase a home where I pay MR fees as it is against my grain. Like you guys I am so astounded with the incompetence of city/county/state leadership that my head pretty much explodes with every news release.
I just thought I would throw in my two cents here.
ParticipantThis is an example of short sale processing… The original offer at close to the 499k mark was submitted to the lender in October! Yes you heard me right….October. I believe the asking price was 485k. So fast forward over 4 months and the offer is “close” to being accepted. The second has been approved for 2k but the first has ordered yet another BPO. Meanwhile the original buyers are in escrow for another property although they keep inquiring about this property.
waitingtobuy – yes the base property tax will be reassessed at the new sales price. So that is good news for whoever buys. Mello Roos is not affected by sales price at all so you are stuck with the 3200/year nut on this puppy. Let’s not forget the 159 HOA fee either. What you pay as a total tax to San Diego county will vary in 4S based on the subdivision you buy in. Mello Roos districts are indpendently created/designated. I know it is kind of maddening. Figure this… 1.2% base tax rate and then tack on the MR.
Also for all this home is condo ownership, not fee simple. Home sold for 635k in 05. So basically at 485k we are seeing a 25% haircut… not to bad.
SD Realtor
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