Johns Creek Homes and Real Estate

[panda]

 

[woodburyowner]

Iacrenter,

Many Californians have a misconception that all the homes in northern Atlanta are cheap. Alpharetta and Johns Creek are the two affluent northern Atlanta cities similar to the income demographics as Irvine. It is not unusual to see $1M+ priced homes in these two cities. This particular home in Alpharetta was originally listed for $949,900 as we got the price down to $890,000 and negotiated all the furnitures you see in the pictures.

At $135/sq ft (actually less if you remove the furniture), this property IS cheap.  SFRs with similar finishes would be $500+ sq/ft in Irvine.  Would be interesting to live in a 6500 sq ft house!

 

[rkp]

Sorry. Rkp. I thought no one was interested in reading it so i took it down. I will post it Up again since it seems like you are interested in seeing it. It was from my journal in 2001 When i was 24 years old.

I dont understand why you remove old posts at all.  Why take the time to post them and then remove them?  You add value to the discussion and it is hard to follow and broken when you remove your posts.

 

[panda]

Rkp, I apologize as it been pretty crazy busy in January in Atlanta and haven't had much time to post on TI. My winters months feels like my summer months these days.

I posted a page from my 2001 journal in the thread below.
http://www.talkirvine.com/index.php/topic,13847.msg325223.html#new

Sorry. Rkp. I thought no one was interested in reading it so i took it down. I will post it Up again since it seems like you are interested in seeing it. It was from my journal in 2001 When i was 24 years old.

I dont understand why you remove old posts at all.  Why take the time to post them and then remove them?  You add value to the discussion and it is hard to follow and broken when you remove your posts.

 

[panda]

 

[panda]

 

[irvinehomeowner]

Hey, some of those look attached... BTB Approved!!

 

[Mety]

Hey, some of those look attached... BTB Approved!!

Surprise!! It's a 4-Car-Garage-Style-House.

 

[Burn That Belly]

x

 

[panda]

 

[irvinebullhousing]

Hi James, what is the effective property tax rate in buckhead city and property tax rate in Forsyth county.

I did a quick search and some of the homes bought at 165k
In 2016 carry almost 5k in tax. Just want to get the correct number from a true investor and financial planner.

Those homes looks awesome.

 

[panda]

Compressed Village,

I believe Buckhead's effective tax rate is 1.81%, which is similar to the newer homes in Irvine plus the Mello Roos. Buckhead is considered the Beverly Hills of Atlanta where new construction townhomes start in the $700k - $800 in the surrounding areas like Sandy Springs and Midtown. You are definitely going to see some OC home prices in the surrounding areas of Buckhead.

Forsyth County's effective tax rate is about half that of Buckhead at 0.9% of the home value. Forsyth County today is what the city of Irvine looked like back in the early to mid 1980s, in terms of demographics, development, affluence, and growth.

Recently, there was a major controversy to make a new city called Sharon Springs for the following high school clusters: Lambert, South Forsyth, and half of West Forsyth. I was personally against as it would raise the property taxes for the south Forsyth homes and luckily the residents voted against it and won by a landslide. Imagine Aliso Viejo as the city did not exist in the 1990s. The city became incorporated in July 1st, 2001, and before then the I would assume that residents who lived in Aliso Viejo paid just the Orange County taxes and didn't have to pay the city. That is what would have happened if the residents voted for the Sharon Springs city and won. Hope this makes sense.

Panda

Source:

Hi James, what is the effective property tax rate in buckhead city and property tax rate in Forsyth county.

I did a quick search and some of the homes bought at 165k
In 2016 carry almost 5k in tax. Just want to get the correct number from a true investor and financial planner.

Those homes looks awesome.

 

[irvinebullhousing]

Compressed Village,

I believe Buckhead's effective tax rate is 1.81%, which is similar to the newer homes in Irvine plus the Mello Roos. Buckhead is considered the Beverly Hills of Atlanta where new construction townhomes start in the $700k - $800 in the surrounding areas like Sandy Springs and Midtown. You are definitely going to see some OC home prices in the surrounding areas of Buckhead.

Forsyth County's effective tax rate is about half that of Buckhead at 0.9% of the home value. Forsyth County today is like Orange County back in the early to mid 1980s, in terms of demographics, development, affluence, and growth.

Recently, there was a major controversy to make a new city called Sharon Springs for the following high school clusters: Lambert, South Forsyth, and half of West Forsyth. I was personally against as it would raise the property taxes for the south Forsyth homes and luckily the residents voted against it and won by a landslide. Imagine Aliso Viejo as the city did not exist in the 1990s. The city became incorporated in July 1st, 2001, and before then the I would assume that residents who lived in Aliso Viejo paid just the Orange County taxes and didn't have to pay the city. That is what would have happened if the residents voted for the Sharon Springs city and won. Hope this makes sense.

Panda

Hi James, what is the effective property tax rate in buckhead city and property tax rate in Forsyth county.

I did a quick search and some of the homes bought at 165k
In 2016 carry almost 5k in tax. Just want to get the correct number from a true investor and financial planner.

Those homes looks awesome.

I was impressed with Buckhead, tech-heavy area.  On my last trip to Atlanta I stayed at the JW-Marriott not too far from Atlanta epicenter. Yet, a short drive away from the hotel, I've found beautiful neighborhoods, surrounded by mature trees line and I have to say that those bricks home in the East somehow, bring out the charm and masculine of the homes. And the greenery I can get use to very quickly as it feel forestry even in the middle of it all. I know that it was the Beverly Hills of Atlanta, but did not pay too much to the pricing and the tax.

So how much is the Mello Roose there? Is it priced and zoned differently for each of the developments? I can see the benefits of Mello-Roose to established schools in new area and etc....

Thanks

 

[panda]

Compressed Village,

We don't have a Mello Roos tax here for new construction. Let me give you an example from my memory bank in 2001. I first noticed the new construction Townhome development tract called the "Casalon" in Quail Hill Irvine back in 2001. This new development perked my interest as I knew it was the lowest entry point into the 92603 (Uni High Cluster). First phase started out around the mid $350s and had increased to in the mid and high $400s by 2003. Back then the interest rates were between 6-7% for investment loans and property taxes were about 1.8% including mello roos. I remember that the rentals comps for the a townhome in Casalon was around $1700 / month. How I know this is that I met a tenant renting a townhome from Casalon and I asked them how much they were paying for in rent. I thought to myself, even if I had no mortgage on this home, my carrying costs would be easily $13,000/year including the monthly HOA to carry this home.

I bring the example up as much as the townhomes have appreciated in south Forsyth County, the prices are in the low $300s today, with 0.9 Property tax with no mello roos. A townhome like this would lease for $1900 in South Forsyth today. Just like the Casalon Townhomes in Quail Hill, the Light heart Ct Townhome I profiled on this thread is the lowest entry point into the Lambert HS cluster in South Forsyth. There are no apartments to compete with anywhere in South Forsyth and Lambert HS clusters.

From an appreciation stand point, buying and holding the Casalon townhome in Irvine would have been the best decision from 2001, but not from a cash flow stand point due to the mello roos and high HOA.

Compressed Village,

I believe Buckhead's effective tax rate is 1.81%, which is similar to the newer homes in Irvine plus the Mello Roos. Buckhead is considered the Beverly Hills of Atlanta where new construction townhomes start in the $700k - $800 in the surrounding areas like Sandy Springs and Midtown. You are definitely going to see some OC home prices in the surrounding areas of Buckhead.

Forsyth County's effective tax rate is about half that of Buckhead at 0.9% of the home value. Forsyth County today is like Orange County back in the early to mid 1980s, in terms of demographics, development, affluence, and growth.

Recently, there was a major controversy to make a new city called Sharon Springs for the following high school clusters: Lambert, South Forsyth, and half of West Forsyth. I was personally against as it would raise the property taxes for the south Forsyth homes and luckily the residents voted against it and won by a landslide. Imagine Aliso Viejo as the city did not exist in the 1990s. The city became incorporated in July 1st, 2001, and before then the I would assume that residents who lived in Aliso Viejo paid just the Orange County taxes and didn't have to pay the city. That is what would have happened if the residents voted for the Sharon Springs city and won. Hope this makes sense.

Panda

Hi James, what is the effective property tax rate in buckhead city and property tax rate in Forsyth county.

I did a quick search and some of the homes bought at 165k
In 2016 carry almost 5k in tax. Just want to get the correct number from a true investor and financial planner.

Those homes looks awesome.

I was impressed with Buckhead, tech-heavy area.  On my last trip to Atlanta I stayed at the JW-Marriott not too far from Atlanta epicenter. Yet, a short drive away from the hotel, I've found beautiful neighborhoods, surrounded by mature trees line and I have to say that those bricks home in the East somehow, bring out the charm and masculine of the homes. And the greenery I can get use to very quickly as it feel forestry even in the middle of it all. I know that it was the Beverly Hills of Atlanta, but did not pay too much to the pricing and the tax.

So how much is the Mello Roose there? Is it priced and zoned differently for each of the developments? I can see the benefits of Mello-Roose to established schools in new area and etc....

Thanks

 

[woodburyowner]

MR is a fixed bond amount and not a % of the property price.  It should really be calculated separated from property tax as the "effective tax rate" will vary depending on your purchase price.  The MR for Casalon tract was $2078.  For the later phases, this would translate into an effective property tax rate of 1.4%.  As the homes appreciate and the MR bonds get paid off, the ROI starts to look much better.

 

[woodburyowner]

Forsyth County's effective tax rate is about half that of Buckhead at 0.9% of the home value. 

I just looked at a random property in Forsyth County and see the county "appraised value" of $256k with a property tax bill of $2844.  Wouldn't this make the property tax 1.1%?

 

[irvinebullhousing]

Compressed Village,

We don't have a Mello Roos tax here for new construction. Let me give you an example from my memory bank in 2001. I first noticed the new construction Townhome development tract called the "Casalon" in Quail Hill Irvine back in 2001. This new development perked my interest as I knew it was the lowest entry point into the 92603 (Uni High Cluster). First phase started out around the mid $350s and had increased to in the mid and high $400s by 2003. Back then the interest rates were between 6-7% for investment loans and property taxes were about 1.8% including mello roos. I remember that the rentals comps for the a townhome in Casalon was around $1700 / month. How I know this is that I met a tenant renting a townhome from Casalon and I asked them how much they were paying for in rent. I thought to myself, even if I had no mortgage on this home, my carrying costs would be easily $13,000/year including the monthly HOA to carry this home.

I bring the example up as much as the townhomes have appreciated in south Forsyth County, the prices are in the low $300s today, with 0.9 Property tax with no mello roos. A townhome like this would lease for $1900 in South Forsyth today. Just like the Casalon Townhomes in Quail Hill, the Light heart Ct Townhome I profiled on this thread is the lowest entry point into the Lambert HS cluster in South Forsyth. There are no apartments to compete with anywhere in South Forsyth and Lambert HS clusters.

From an appreciation stand point, buying and holding the Casalon townhome in Irvine would have been the best decision from 2001, but not from a cash flow stand point due to the mello roos and high HOA.

Compressed Village,

I believe Buckhead's effective tax rate is 1.81%, which is similar to the newer homes in Irvine plus the Mello Roos. Buckhead is considered the Beverly Hills of Atlanta where new construction townhomes start in the $700k - $800 in the surrounding areas like Sandy Springs and Midtown. You are definitely going to see some OC home prices in the surrounding areas of Buckhead.

Forsyth County's effective tax rate is about half that of Buckhead at 0.9% of the home value. Forsyth County today is like Orange County back in the early to mid 1980s, in terms of demographics, development, affluence, and growth.

Recently, there was a major controversy to make a new city called Sharon Springs for the following high school clusters: Lambert, South Forsyth, and half of West Forsyth. I was personally against as it would raise the property taxes for the south Forsyth homes and luckily the residents voted against it and won by a landslide. Imagine Aliso Viejo as the city did not exist in the 1990s. The city became incorporated in July 1st, 2001, and before then the I would assume that residents who lived in Aliso Viejo paid just the Orange County taxes and didn't have to pay the city. That is what would have happened if the residents voted for the Sharon Springs city and won. Hope this makes sense.

Panda

Hi James, what is the effective property tax rate in buckhead city and property tax rate in Forsyth county.

I did a quick search and some of the homes bought at 165k
In 2016 carry almost 5k in tax. Just want to get the correct number from a true investor and financial planner.

Those homes looks awesome.

I was impressed with Buckhead, tech-heavy area.  On my last trip to Atlanta I stayed at the JW-Marriott not too far from Atlanta epicenter. Yet, a short drive away from the hotel, I've found beautiful neighborhoods, surrounded by mature trees line and I have to say that those bricks home in the East somehow, bring out the charm and masculine of the homes. And the greenery I can get use to very quickly as it feel forestry even in the middle of it all. I know that it was the Beverly Hills of Atlanta, but did not pay too much to the pricing and the tax.

So how much is the Mello Roose there? Is it priced and zoned differently for each of the developments? I can see the benefits of Mello-Roose to established schools in new area and etc....

Thanks

Thanks for the details info. I was catching up reading up your post.

 

[panda]

Woodbury, at the other end of the spectrum, there are several homes in south Forsyth where the market value are trading around $780k and taxes are around $6000. I guess 1% property tax would be a good rule of thumb in Forsyth County. As Forsyth County's population continues to grow, I would imagine that property taxes will rise over time as well. $256k would be considered the entry price point into Forsyth County, as the lowest entry new construction is now starting in the mid $260s. The attractiveness of owning property in this County is due to low property taxes, good schools, and being known as the wealthiest and fastest growing County in the state.

Forsyth County property taxes are probably similar to owning an older home built in the 80s in Turtle Rock and Woodbridge where the effective tax rate is just 1% without Mello Roos.

Forsyth County's effective tax rate is about half that of Buckhead at 0.9% of the home value. 

I just looked at a random property in Forsyth County and see the county "appraised value" of $256k with a property tax bill of $2844.  Wouldn't this make the property tax 1.1%?

 

[panda]

Thanks for teaching me something new as I thought that MR was calculated by the % of the property price vs a fixed bond amount. When I was looking to buy a Manzanita home in Portola Springs between 2009 - 2010, I remember that the property tax + MR was right at 1.8 - 1.9% of the purchase price. Are you allowed to write off your MR taxes just like you would with your property taxes?

MR is a fixed bond amount and not a % of the property price.  It should really be calculated separated from property tax as the "effective tax rate" will vary depending on your purchase price.  The MR for Casalon tract was $2078.  For the later phases, this would translate into an effective property tax rate of 1.4%.  As the homes appreciate and the MR bonds get paid off, the ROI starts to look much better.

 

[irvinehomeowner]

We?re dicussed the writeoff of MRs quite a bit here and I believe you can based on an IRS letter because CA doesn?t provide sufficient breakout on what is deductible.