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[quote=asterix007]Called up ANPAC; they cannot write a policy. They consider the home to be in the fire risk area.[/quote]

I would be curious to see your general location on a map. Are you literally right up against some hills?

I’m on the Northern side near the lake, and many of the homes are right smack against the hills.

I’m not sure if the sales office is still open for the Estates (the 25 custom homes on North side). If it is you could try going into there and asking them where the new owners have been getting their insurance.

Those homes are right smack in the middle of the brush and someone is insuring them. They took down burned trees from the last fires to build those homes.

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Did you have them actually out to your property to look in person?

We were denied at first, because most companies use Google Maps and a lot of the pictures for 4S are fairly outdated and show a lot more brush/etc. They sent a person out, took one look, and immediately qualified us.

FWIW we use ANPAC. Absolutely blew away all our other insurance quotes. I’ve moved all our insurance to them after being long time AAA and Wawanesa customer.

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For those of us that did prepay… what are your plans for taxes? Going to write off the prepayment?

Large chunk of money which would certainly kick in AMT but….

First installment of property taxes are due in a few days, and I’m debating whether or not to eat the late payment and not pay anything until next year to have a bigger write off & net win.

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I recently finished a 417K 30 year fixed refinance @ 3.375% w/ no costs.

Going to be real interesting to see if rates keep going down. 3.0 or under would result in ridiculously low monthly payments… as it is now it’s already cheaper then 2 bedroom apartments.

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I live on the North side, literally right next to Mission Ranch.

The vegetation on the South side is a lot more mature. The trees lining the streets, the parks, houses, etc – it’s a lot “greener” and gives off a completely different feel.

The North side, a large # of homes were just put up in the last 2 years. All the trees are small, and there’s still a lot of construction going on.

As a result, you see “a lot more house” and it does give off a very cookie cutter feel right now. In a couple years I think it’ll feel very different.

On the North side things spread out with bigger lots the further back you go. But it’s definitely a trek back there, and you go past a lot of apartments and packed in houses on the way.

I’m going to walk through the models this week to check them out.

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I haven’t toured the finished models yet, but I walk by them everyday.

Personally, I wouldn’t pay ~1.2M to live there.

I like the houses, and the location back in the hills but the process of getting there and overall integration kills it for me.

You get there either via Alva Rd or down the middle of 4S. Both routes take you past a sea of apartments, and homes priced in the 600-700K range. These houses really aren’t that separated from the rest of the area.

I guess it just doesn’t feel like a separate, significantly nicer area. Instead, it’s more like a small pocket of “most expensive homes in the neighborhood.”

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[quote=Upvote_Anything]Great discussion.

Did anybody actually pay off the MR? How did that go? Thanks in advance![/quote]

Finished paying mine off ~2 weeks ago (4S Ranch).

Painless, but took longer than expected. Factor in a good month to get the payoff numbers. Timing can be important…

I was told the payoff amount of one of my bonds was about to increase 2%, and the other nearly 40% (yes, 40%).

My total was just over $60K. I took out a 5 year, tax deductible 1.9% loan to pay it off.

The net is I have 5 years of slightly higher monthly payments (for the loan) vs a 28 year MR payment that increases 2% annually (avg of $7,500/year MR over that period).

[sdnerd]

[quote=sdrealtor]along with how much cash you have lying around and what else you can do with it.[/quote]

Along those lines; one thing I’ve been considering is a 5 year fixed home equity. There’s a couple places offering ~1.99% rates.

Kill the MR in 5 years with a ~2% loan and find another use for the bulk of the cash. (Assuming there is a better use…. 🙂 )

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I know the thread is a bit old; but anyone have any recent recommendations for crown molding?

I’m looking for the basic 6″ materials, painted, installed in the $4-5/ft range.

Economy must not be too bad; I can’t get any contractors to even call me back (not even mentioning price, etc).

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[quote=captcha]
I guess PUSD board could decide that they don’t need the money?
[/quote]

That would certainly be a historic moment. 🙂

Thanks for the other information. I received a call back today, and it confirms what you said.

At least in my case, the payoff completely removes the entire enchilada. ~$60K kills $5,600/yr(+2% annual) in its entirety.

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[quote]

The interest rate on the bond does not match the interest rate residents are paying. CFD#6 has three special tax bonds (2002, 2007 and 2010 series) and the most recent one starts with 1.2% in 2011 and goes up to 5.375 in 2036.

It looks like PUSD can issue bonds as needed at whatever cost/value they can negotiate and pay them off with money collected from the residents. I am not sure if PUSD’s ability to issue bonds is limited by the amount they are projected to collect from the residents, or some magic number specified in the original Bond Indenture that I can’t find on CaliforniaTaxData website.[/quote]

Perhaps I’m missing something, but the way I interpret everything thus far:

Right now they charge me $5,600/year.

They can, have, and presumably will continue to increase this amount annually by 2% until the last possible second. Behind the scenes they can pile on more debt, etc.

So my final annual payments will be approximately $9,500/year after factoring in annual 2% increases.

Temecula’s question is a good one.. whether or not that payout amount truly removes that entire bill (there’s not some fixed school fee/etc that would still remain).

Perhaps I’ll call again today and try to clarify.

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[quote=ocrenter][quote=sdnerd]Interesting discussion.

I called today to get rough numbers for a 4S property.

4S is in the process of adding more debt to the bonds, so you can’t do a payoff (they won’t have exact numbers) until middle of this year.

The estimate was $60-70K payoff for something that is currently at ~$5,600/year.

Worth considering.[/quote]

That would make the current rate around 7.5%. Not quite as high as the 9.3% from paranoid’s MR. Prob a different tract with a different CFD?[/quote]

I was under the impression everyone in 4S had the main CFD#6, and then possibly additional depending on tract/year/etc. In my case I also have the CFD#6 IAC.

Every bond that I’ve read has a 25 year term, starting at the last issue date. 4S probably has another 2-3 or so years before completion. So we’re looking at ~28-30 years of MR.

It sounded like he was giving me a pretty rough estimate, but he did seem pretty clear that nobody in 4S could pay it off right now as debt was being added. I assume they are in the process of taking advantage of the 2% annual increase headroom.

If $60K removes $5,700/yr (+2% Annual Increases)in expenses it certainly peaks the interest. Sure beats a 1% market account. 🙂

[sdnerd]

Interesting discussion.

I called today to get rough numbers for a 4S property.

4S is in the process of adding more debt to the bonds, so you can’t do a payoff (they won’t have exact numbers) until middle of this year.

The estimate was $60-70K payoff for something that is currently at ~$5,600/year.

Worth considering.

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[quote=HenryPP]EarlyRetirement,

Thanks for the clarification.

I drove and walked all over 4S today during my lunch break (yes, in the rain). I had not realized just how big 4S really is. Thankfully it was a slow day at work.

At $700K, these 3,000 sqft homes would be WAY over-priced. Even at $600K they’re still a bit too high. $550K and they get really interesting. Definitely under $200/sqft.

Well, thanks everyone for your thoughts.[/quote]

I purchased new construction in Northern 4S a little over a year ago ~$200/sqft.

Here’s my take from what I’ve seen actually living here.

In the Northern side, all the new construction (and there has been a lot of it, and more still going) is being purchased by people putting 20-50% down. At today’s rates, that puts mortgages in the $2-3,000 range for 3,500sq/ft+ homes. I don’t think you are going to see much distress there, and this price point appears to be extremely attractive.

In the Southern side, a lot of it was purchased before prices went to the moon. Fair amount of staying power.

The areas that were built during the crazy days got slammed a few years ago (4ClosureRanch). There’s been a lot of strong hands taking over for the weak. I’m sure there is more distress, but I believe the opportunity to really get a huge price reduction has mostly passed.

A lot of dual income high earning families, what appears to be a pretty attractive price point based on sales/demand, and low interest rates for the foreseeable future.

For someone looking for nice home in a good school district, that plans on staying there for many years IMHO it’s a pretty safe bet.

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I live in 4S, no kids yet.

The people paying for the schools SHOULD have priority. That’s just common sense.

And the water park with the gate now – again, this is pretty straight forward.

Even with the restriction to 4S residents, the park is PACKED during the Summer. When there was no gate, other schools and daycare centers were (quite literally) bringing kids in by the busload to use the park.

So the people who lived there were both crowded out, and ended up footing the maintenance bill to pay for everyone else coming into the community to use the park. The maintenance on a water park is not cheap!

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