Beacon Park, Yea or Nay?
- Thread starter ps99472
- Start date
NEW -> Contingent Buyer Assistance Program
Funny how? Funny like a clown?
Same % as Tustin Legacy, only the houses are more expensive.
If people didn't just snap everything up I'll bet mello wouldn't be so high.
I think I've said it before..... years from now when Irvine is built out and rates are higher, people looking at resales are going to look seriously at Northwood Pointe which has some pretty decent lot sizes (easier to remodel) 3-4 car garages and low mello and give the newer homes a run for their money.
Here is the comparison of MR for PP and BP
HOUSE SIZE PP BP
>5,700 $12,356 $17,004
5460 to 5699 $11,858 $16,422
5200 to 5459 $11,359 $15,554
4950 to 5199 $10,861 $14,973
4700 to 4949 $10,363 $14,105
4450 to 4699 $9,864 $13,614
4200 to 4449 $9,366 $12,944
3950 to 4449 $8,874 $12,303
3700 to 3949 $8,587 $11,891
3450 to 3699 $8,352 $10,478
3200 to 3449 $7,479 $9,961
2950 to 3199 $6,934 $9,027
2700 to 2949 $6,474 $8,190
2450 to 2699 $5,902 $7,532
2200 to 2449 $5,380 $6,592
1950 to 2199 $4,981 $6,041
1700 to 1949 $4,443 $5,328
<1700 -- $4,385 $5,112
I assume plus around 1.1% of the price of the home.
They go up 2% a year as well?
I'm going to assume that the answer is no. I bet it was figured out based on the projected price of the homes. Mello was high when we bought our house 17 years ago. My first OB/GYN lived down the street from me in Canyon Creek (bought when he was a younger doc) which had no mello and told me the taxes were insane in Northwood Pointe and he for sure could never afford to buy there. I think the taxes came to almost 1.7% based on the lowest priced homes. At that time, the entire neighborhood had the same mello. Didn't matter what the sq footage was.
4000 sq foot homes, 9K+ lot sizes, gated, 4 car garages and even if the homeowner didn't pay off the one bond they could have they are still only paying less than $2400 in mello with one of the bonds falling off in three years leaving only $1700 in mello.
And when they were new................. "insane property taxes" is what I heard from a very successful perinatologist.
15 days from now my house is paid off and my cost to live in it will be $1100 per month plus utilities, food, insurance, vacations, etc.
But alas, no downstairs master.
Probably.
On a different topic Do you know why the Columbus Grove houses that are in Tustin but within IUSD have a such a high MR, the larger houses almost about $9K. They don't even have to build new Irvine Schools there. Hence why would these be higher than the Columbus Square and the Greenwood MR?
Awesome and Congratulations.
The downside is that it's dead money.
We're looking to rent it out to get the downstairs master we need... well we want for now....... need down the road.
Of course we would like to pay less mello but seems like it just goes up and up and up and for the life of me I cannot believe that it costs THAT much more to put in streets, schools, etc from one development to the next. And down the road, when rates are higher, I really believe high HOA (Greenwood) and mello are going to be an issue for resales.
Thought seriously about remodeling to get the downstairs master. We have enough land and we don't really need a 4 car garage, but it's still dead money. Renting it out gives us a new place and tax deduction which offsets the rent. Too bad mello is so stinking high in everything new and now it goes up 2% a year too.
I don't see how you won't get MRs unless it is a small community or built in an existing community/city. LR didn't have MR but built it into the purchase price. Baker's Ranch has no MR because it was built into SVUSD, who was dying to get more students.
I still have the initial price sheets from the Lambert Ranch grand opening. The prices were shockingly low, considering comparable prices today, and that's before you remember that there were no mello roos!
And I remember touring the homes, thinking, "Wow, these are so over-priced for this real estate market that is still correcting." I am so smart.
Sure...price is low relative to now. It was pretty high back then.
Irvinecommuter
New member
Ready2Downsize said:
Funny how? Funny like a clown?
Ready2Downsize
Well-known member
AW said:
Same % as Tustin Legacy, only the houses are more expensive.
If people didn't just snap everything up I'll bet mello wouldn't be so high.
I think I've said it before..... years from now when Irvine is built out and rates are higher, people looking at resales are going to look seriously at Northwood Pointe which has some pretty decent lot sizes (easier to remodel) 3-4 car garages and low mello and give the newer homes a run for their money.
Irvine Dream
New member
Ready2Downsize said:
Here is the comparison of MR for PP and BP
HOUSE SIZE PP BP
>5,700 $12,356 $17,004
5460 to 5699 $11,858 $16,422
5200 to 5459 $11,359 $15,554
4950 to 5199 $10,861 $14,973
4700 to 4949 $10,363 $14,105
4450 to 4699 $9,864 $13,614
4200 to 4449 $9,366 $12,944
3950 to 4449 $8,874 $12,303
3700 to 3949 $8,587 $11,891
3450 to 3699 $8,352 $10,478
3200 to 3449 $7,479 $9,961
2950 to 3199 $6,934 $9,027
2700 to 2949 $6,474 $8,190
2450 to 2699 $5,902 $7,532
2200 to 2449 $5,380 $6,592
1950 to 2199 $4,981 $6,041
1700 to 1949 $4,443 $5,328
<1700 -- $4,385 $5,112
Ready2Downsize
Well-known member
Irvine Dream said:
I assume plus around 1.1% of the price of the home.
They go up 2% a year as well?
Irvine Dream
New member
Yes, you have to add the regular tax to the mello roos to get the total tax. MR also goes up by 2% and as bones pointed out in a previous post, the current PP homeowners have already seen the 2% increase on MR from those listed hereReady2Downsize said:
Ready2Downsize
Well-known member
qwerty said:
I'm going to assume that the answer is no. I bet it was figured out based on the projected price of the homes. Mello was high when we bought our house 17 years ago. My first OB/GYN lived down the street from me in Canyon Creek (bought when he was a younger doc) which had no mello and told me the taxes were insane in Northwood Pointe and he for sure could never afford to buy there. I think the taxes came to almost 1.7% based on the lowest priced homes. At that time, the entire neighborhood had the same mello. Didn't matter what the sq footage was.
4000 sq foot homes, 9K+ lot sizes, gated, 4 car garages and even if the homeowner didn't pay off the one bond they could have they are still only paying less than $2400 in mello with one of the bonds falling off in three years leaving only $1700 in mello.
And when they were new................. "insane property taxes" is what I heard from a very successful perinatologist.
15 days from now my house is paid off and my cost to live in it will be $1100 per month plus utilities, food, insurance, vacations, etc.
But alas, no downstairs master.
Irvine Dream
New member
qwerty said:
Probably.
On a different topic Do you know why the Columbus Grove houses that are in Tustin but within IUSD have a such a high MR, the larger houses almost about $9K. They don't even have to build new Irvine Schools there. Hence why would these be higher than the Columbus Square and the Greenwood MR?
Irvine Dream
New member
Ready2Downsize said:
Awesome and Congratulations.
Perspective
Well-known member
I'll walk away from my Orchard Hills deposit, if Beacon Park accounces that it will build a huge cemetery with large above-ground mausoleums, and that every address will begin with 13 and end with 4.
Ready2Downsize
Well-known member
Irvine Dream said:
The downside is that it's dead money.
We're looking to rent it out to get the downstairs master we need... well we want for now....... need down the road.
Of course we would like to pay less mello but seems like it just goes up and up and up and for the life of me I cannot believe that it costs THAT much more to put in streets, schools, etc from one development to the next. And down the road, when rates are higher, I really believe high HOA (Greenwood) and mello are going to be an issue for resales.
Thought seriously about remodeling to get the downstairs master. We have enough land and we don't really need a 4 car garage, but it's still dead money. Renting it out gives us a new place and tax deduction which offsets the rent. Too bad mello is so stinking high in everything new and now it goes up 2% a year too.
Not for me either. That MR is just too high.
When Lambert Ranch came out, a non-TIC community and no MR, what was a welcome sight. I was hoping more non-TIC developments come alone with no MR and give TIC some competition. But no, not only these new developments have MR, their MR are higher than TIC's community.
When Lambert Ranch came out, a non-TIC community and no MR, what was a welcome sight. I was hoping more non-TIC developments come alone with no MR and give TIC some competition. But no, not only these new developments have MR, their MR are higher than TIC's community.
Irvinecommuter
New member
lnc said:
I don't see how you won't get MRs unless it is a small community or built in an existing community/city. LR didn't have MR but built it into the purchase price. Baker's Ranch has no MR because it was built into SVUSD, who was dying to get more students.
Perspective
Well-known member
Irvinecommuter said:
I still have the initial price sheets from the Lambert Ranch grand opening. The prices were shockingly low, considering comparable prices today, and that's before you remember that there were no mello roos!
And I remember touring the homes, thinking, "Wow, these are so over-priced for this real estate market that is still correcting." I am so smart.
Irvinecommuter
New member
Perspective said:
Sure...price is low relative to now. It was pretty high back then.