Beacon Park

NEW -> Contingent Buyer Assistance Program
I don't understand your complaint about adjusting price for property tax differences. The price a cash buyer pays for mello roos every year for decades is the same price a financing buyer pays. Because it should annoy the cash buyer more, doesn't mean a financing buyer shouldn't be annoyed. It's the same cost!

The vast majority of homes are bought utilizing a 30-year fixed mortgage in 2015. So that's the measuring stick I used to adjust the prices for the higher mello roos. Otherwise, how do you compare pricing? If you're considering a 3,500 sq ft house in Stonegate with $5K in mello roos, and a 3,500 sq ft house in Beacon Park with $9K in mello roos, you have to consider this extra cost. If you're using a 15 year fixed mortgage, then use that calculation. Most people use a 30 year fixed mortgage.
 
with your comparison I just keep it simple:  an extra $4000 per year in Mello.  It's not a financed product, you don't pay interest on it like the rest of your house that is being financed.  Is the extra Mello worth it?  Well that's for the market to decide with some personal points I pointed out above with my visit to BP.  Personally if I'm forced to buy a house now between Strada and BP products, I would even pick Ellwood over Strada, but that's just me. 
 
Ellwood first two phases are probably sold out by now, I never even had a chance to ask if these were single family with zero lots or just detached condos.
 
Here's pricing from Silvermist:

Citrine 3673 sq ft starting $1.59 ($10,478/year Mello)
Jade 3714 sq ft starting $1.63 ($11,891/year Mello)
Onyx 4002 sq ft starting $1.72 ($12,303/year Mello)
 
ps9 said:
with your comparison I just keep it simple:  an extra $4000 per year in Mello.  It's not a financed product, you don't pay interest on it like the rest of your house that is being financed.  Is the extra Mello worth it?  Well that's for the market to decide with some personal points I pointed out above with my visit to BP.  Personally if I'm forced to buy a house now between Strada and BP products, I would even pick Ellwood over Strada, but that's just me.
Click to expand...

It's a bond. It's a financed product. The builder is passing its development costs onto the buyer. You can view it as an annual cost, a monthly cost, or even a daily cost. Most people budget on a monthly basis, and that's how I view the mello roos expense.
 
AW said:
Ellwood first two phases are probably sold out by now, I never even had a chance to ask if these were single family with zero lots or just detached condos.
Click to expand...

Single Family Detached Condos :) (per BP brochure)
 
Buyers will determine what's better for them, I can see why OH is better than BP, and I can see why BP is better than OH.
They are not absolutes. 
 
AW said:
You mean rename it to baker ranch, lol
Click to expand...

Or 'Oakmont by Ryland, a fabulous place to spend $4000 per year'  :) 

@perspective
Fun debate, can't believe you made me defend Oakmont, not even on my radar.  I assume you're a buyer at Strada? 
 
eyephone said:
Isn't there morning/afternoon traffic, noise, and possible trash issues if you live by a school.
Click to expand...

Morning traffic is the biggest factor, hopefully they engineered the flow of traffic around BP school well.  K-8 is quite a number of students.  I do see two entrances from the map above, maybe that will make it better.  But the traffic near Juniper should be ok, hopefully.
 
If you are concerned about Mello Roos, you have no business buying a 1.5mil house.  Take Paris' advice, don't spend all of your money on your house.
 
Ellwood is detached condos in a group of 6 homes sharing a motorcourt. The 6 homes sit on a largest parcel of land it is by far the biggest compared to other 6 packs historically. Some locations where the steets begin to curve the parcel got smaller then the motorcourt plotting became a 4 pack and conventionally plotted as SFD. The middle house in the model complex typically has a much bigger yard on the production units than what is depicted at the model. Typically the models are built on the best and largest parcels but in this case the land by the park is limited. I think the typical yard for this middle house is twice as deep. The Nolan plan the plan with the roof deck in the motorcourt configuration has a 2 car driveway.

The theme of the park is navigation. It is developed in triad where one is navigation by sea where the wall mural is depicting the coast from Malibu to Long Beach, another by land where the tree house is at and finally by air by the basketball courts. Look for compass clues on the ground, on walls, on the sunshade soffits, and shadow on the ground. The club house is designed by Modenist Marmol Radzinger the preservation architect for Neutra's Kauffman House in Palm Springs. 

AW said:
Ellwood first two phases are probably sold out by now, I never even had a chance to ask if these were single family with zero lots or just detached condos.
Click to expand...
 
Unfortunately not true for BP, the mello delta for going with BP staying 8years (until my daughter finishes 8th grade) vs staying put in our current home will be $64,000.  So if BP appreciates, it's a good move, but it has to appreciate quite a bit.  And finding another knife catcher to buy my 8 year old BP home?  That will be another hurdle.
 
Happiness said:
If you are concerned about Mello Roos, you have no business buying a 1.5mil house.  Take Paris' advice, don't spend all of your money on your house.
Click to expand...

The word is not concerned it's outrages regarding the MR.
 
The extra MR may be much for those struggling to make the mortgage. One should not be dining on lobsters but can't afford to buy butter or ginger and scallion. The only justifications I see in paying for the extra MR is when I will be getting back in amenities. From the maps I recalled seeing at the City of Irvine there will be a brand new K-8 school in every neighborhood without having to drive outside to another and I will need to confirm. Each neighborhood park is amenity rich with a customized theme and no two parks are the same. There will be a grand water park for all Greatpark residents and sport and music venues as well. I heard that other cultural amenties will be added in the future.
 
ps9 said:
Unfortunately not true for BP, the mello delta for going with BP staying 8years (until my daughter finishes 8th grade) vs staying put in our current home will be $64,000.  So if BP appreciates, it's a good move, but it has to appreciate quite a bit.  And finding another knife catcher to buy my 8 year old BP home?  That will be another hurdle.
Click to expand...

Just stay put. You can fund your little ones college fund with that $64k.
 
eyephone said:
ps9 said:
Unfortunately not true for BP, the mello delta for going with BP staying 8years (until my daughter finishes 8th grade) vs staying put in our current home will be $64,000.  So if BP appreciates, it's a good move, but it has to appreciate quite a bit.  And finding another knife catcher to buy my 8 year old BP home?  That will be another hurdle.
Click to expand...

Just stay put. You can fund your little ones college fund with that $64k.
Click to expand...

Or buy a condo in cash in FL, Texas, Vegas, for retirement.
 
You must log in or register to reply here.
Back
Top