Hidden Canyon in Irvine
- Thread starter lcms2002
- Start date
NEW -> Contingent Buyer Assistance Program
purchasing something without understanding all the costs is just plain silly regardless of your wealth. asking what the mello roos is doesn't mean they can't afford it. maybe they are comparing multiple $2M+ houses and thinking about the pros and cons just like people do with $500K houses.
why? wouldn't someone being able to only afford $150K say that about $500K? as bones noted, most people have a budget to live by. those that can afford more expensive houses just have a bigger budget but everyone has a cap and everyone has a limit to how much they want to put towards the house.
Because the difference between a $150K house and a $500K house might be an extra room, better neighborhood etc and hence you need to look into what you can really afford. At 2+million house, regardless of your budget, I would think basic needs of no. of rooms , neighborhood etc is already fulfilled ( If not, God Help us) Then it only becomes a lifestyle choice and regardless of the budget I would think one's selection be only about the house. Again, just my opinion.
Anyhow based on previous post the mello roos is likely about 0.55%, so about $11,000 per year
It's all relative. What is $2.5 million if that person thinks the price will double in a couple years.
Do I think it's $2.5 now? (Nope)
Regarding Mello Roos, if a person is paying all cash - they probably don't care about Mello Roos. (Non w-2 people or upper management CEO, CIO, CFO, etc.)
If you have to think twice about Mello Roos affecting your budget/thought process then you shouldn't buy it.
It's interesting they moved Stonegate to the bottom of the list. Cypress Village is first for obvious reasons (best location). Hidden Canyon is the second best location but also the newest community.
Cypress Village
Hidden Canyon
Orchard Hills
Portola Springs
Stonegate
Why would you pay that much money to live in 92618? I would rather buy in 92603. It's like Beverly Hills 90210 and 90211. Everyone wants 90210 and pays a premium to live there. Anyone who thinks Laguna Altura is considered the same as all of 92603 is mistaken. A bunch of foreign buyers purchased in there and now rent their houses out. There are tons of homes vacant and occupied by renters. However, HC prices don't completely surprise me. Look at YL. Toll brothers sells at a high premium and people never get their money out. Look at their price sheets they are charging a 250k premium for so called view lots. I would rather buy in QH/TR where I get both the zip and the better facing views, guaranteed long term access to Uni High, and better access. Don't get me wrong TB builds a nice house but for that price I will pass.
We went on Capri tour. The models were finished structurally but no interior/exterior finish except for a couple of bathtubs that were already installed.
They had 3 model homes only: Redondo, Portifino, Capri. Structurally they were very well built (thick frames, a lot of coffered ceilings, etc) as expected from Toll Brothers. Floor plans were nice and open. 10? ceiling on 1st floor and 9? ceiling on 2nd although on some areas it seemed there were 10? ceiling also. They have options for the homes to have as little as 3 bedrooms (all suites) or as high as 7 bedrooms (in lieu of loft, den). The bedroom sizes were standard, definitely not big for 4000+ sf homes.
Our favorite was Capri with the dual stairs and volume ceiling. Unfortunately there were no option for 3 car garages and the 3 ft distance to the neighbor is a major turn off for $2M+ homes with 6,000-9,000 sf lot sizes. TB did try to make the homes more private by not having the homes back up to each other directly.
Sales manager said priority list is done on first reserve first serve basis with no special priority for cash buyer. They start taking reservation on 2/7/15. I do not think that they have thousands prequalified buyers in the pipeline as someone had previously mentioned. We submitted our pre-qual 2 weeks ago (and no, we are NOT cash buyers) and we were one of the first potential buyers that did the tour.
They had 3 model homes only: Redondo, Portifino, Capri. Structurally they were very well built (thick frames, a lot of coffered ceilings, etc) as expected from Toll Brothers. Floor plans were nice and open. 10? ceiling on 1st floor and 9? ceiling on 2nd although on some areas it seemed there were 10? ceiling also. They have options for the homes to have as little as 3 bedrooms (all suites) or as high as 7 bedrooms (in lieu of loft, den). The bedroom sizes were standard, definitely not big for 4000+ sf homes.
Our favorite was Capri with the dual stairs and volume ceiling. Unfortunately there were no option for 3 car garages and the 3 ft distance to the neighbor is a major turn off for $2M+ homes with 6,000-9,000 sf lot sizes. TB did try to make the homes more private by not having the homes back up to each other directly.
Sales manager said priority list is done on first reserve first serve basis with no special priority for cash buyer. They start taking reservation on 2/7/15. I do not think that they have thousands prequalified buyers in the pipeline as someone had previously mentioned. We submitted our pre-qual 2 weeks ago (and no, we are NOT cash buyers) and we were one of the first potential buyers that did the tour.
SC_housegeek
New member
I taked to their sales staff today because some of the info posted on this forum was concerning to me. Setbacks are definitely 5ft minimum not 3ft and cash buyers are given top priority. Student are definitely zoned for uni and the boundary changes have already been approved for the new high school by great park. Going on the tour this weekend and hope to secure a phase 1 lot with all my $$$. 8)
OCBuyer92612
New member
Anyone know the estimated mello roos? Thanks
Irvine Dream
New member
You can back calculate it based on the estimated total tax rates previously posted but if you need to ask that question you can't afford a 2+ million house bro.OCBuyer92612 said:
Irvine Dream said:
purchasing something without understanding all the costs is just plain silly regardless of your wealth. asking what the mello roos is doesn't mean they can't afford it. maybe they are comparing multiple $2M+ houses and thinking about the pros and cons just like people do with $500K houses.
Irvine Dream
New member
The point is at that 2+ million price level it should only be about which house you like better and nothing else.rkp said:
Irvine Dream said:
why? wouldn't someone being able to only afford $150K say that about $500K? as bones noted, most people have a budget to live by. those that can afford more expensive houses just have a bigger budget but everyone has a cap and everyone has a limit to how much they want to put towards the house.
Irvine Dream
New member
rkp said:
Because the difference between a $150K house and a $500K house might be an extra room, better neighborhood etc and hence you need to look into what you can really afford. At 2+million house, regardless of your budget, I would think basic needs of no. of rooms , neighborhood etc is already fulfilled ( If not, God Help us) Then it only becomes a lifestyle choice and regardless of the budget I would think one's selection be only about the house. Again, just my opinion.
Anyhow based on previous post the mello roos is likely about 0.55%, so about $11,000 per year
The Motor Court Company
Well-known member
unless I am wrong, unlike prop tax, mello-roos are not directly tied to the home value, in absolute terms.
so mello-roos should matter a lot less to people who can afford 2+ million homes, compared to 500k home buyers. In other words, if mello-roos can make or break your budget for purchasing 2+ million homes, you are most likely stretching it.
so mello-roos should matter a lot less to people who can afford 2+ million homes, compared to 500k home buyers. In other words, if mello-roos can make or break your budget for purchasing 2+ million homes, you are most likely stretching it.
rkp said:
It's all relative. What is $2.5 million if that person thinks the price will double in a couple years.
Do I think it's $2.5 now? (Nope)
Regarding Mello Roos, if a person is paying all cash - they probably don't care about Mello Roos. (Non w-2 people or upper management CEO, CIO, CFO, etc.)
If you have to think twice about Mello Roos affecting your budget/thought process then you shouldn't buy it.
I guess no one buying a $2m house can ask how much anything costs anymore on TI >
Interesting read on reddit on the levels of rich. According to this guy, there's 4 gradations. First one:
"Let's get one thing out of the way. There are gradations of rich. I see four major breaking points:
Worth $10mm-$30mm liquid (exclusive of value of primary residence). At this level, your needs are met. You can live very comfortably at a 4-star/5-star level. You can book a $2000 suite for a special occassion. You can fly first class internationally (sometimes). You have a very nice house, you can afford any healthcare you need, no emergency financial situation can destroy your life. But you are not "rich" in the way that money doesn't matter. You still have to be prudent and careful with most decisions unless you are on the upper end of this scale, where you truly are becoming insulated from personal financial stress. (Business stress exists at all levels). The banking world still doesn't classify you as 'ultra high net worth'"
http://www.reddit.com/r/AskReddit/c...nely_wealthy_people_buy_that_ordinary/cnnmca8
Interesting read on reddit on the levels of rich. According to this guy, there's 4 gradations. First one:
"Let's get one thing out of the way. There are gradations of rich. I see four major breaking points:
Worth $10mm-$30mm liquid (exclusive of value of primary residence). At this level, your needs are met. You can live very comfortably at a 4-star/5-star level. You can book a $2000 suite for a special occassion. You can fly first class internationally (sometimes). You have a very nice house, you can afford any healthcare you need, no emergency financial situation can destroy your life. But you are not "rich" in the way that money doesn't matter. You still have to be prudent and careful with most decisions unless you are on the upper end of this scale, where you truly are becoming insulated from personal financial stress. (Business stress exists at all levels). The banking world still doesn't classify you as 'ultra high net worth'"
http://www.reddit.com/r/AskReddit/c...nely_wealthy_people_buy_that_ordinary/cnnmca8
irvinehomeowner
Well-known member
Since I'm a 99%er, I worry about all kinds of fees or taxes... especially ones I have to pay forever.
Even if you are paying all cash, don't you still want to know what your yearly outlay would be?
That's like when I was saying that I didn't want to buy new because I didn't want to pay MRs but then people were telling me that at $1m+, it shouldn't matter. But that $5000-7000 I would save in the first year of not paying MRs could buy me some cans, fans and a nice TV.
Even if you are paying all cash, don't you still want to know what your yearly outlay would be?
That's like when I was saying that I didn't want to buy new because I didn't want to pay MRs but then people were telling me that at $1m+, it shouldn't matter. But that $5000-7000 I would save in the first year of not paying MRs could buy me some cans, fans and a nice TV.
thelandofnoland
New member
Please contact me athttp://thenewhomeblog.wix.com/the-new-home-blogfor more information on the original post. Thank you.
thelandofnoland said:
It's interesting they moved Stonegate to the bottom of the list. Cypress Village is first for obvious reasons (best location). Hidden Canyon is the second best location but also the newest community.
Cypress Village
Hidden Canyon
Orchard Hills
Portola Springs
Stonegate
The Motor Court Company
Well-known member
alphabetical order?
test said: