New Listing - Crescendo Plan 1 home @ Cadence Park (116 Crossover)
- Thread starter usctrojancpa
- Start date
NEW -> Contingent Buyer Assistance Program
Congratulations! Did the pregnant lady ever show up?
Honestly, I thought it might go over $2.8m maybe around $3m but I never thought we'd get $3.3m. Just goes to show what can happen when there's a trophy property for sale when there's little inventory.
Which pregnant lady?
Not sure where you are getting your numbers but the property tax will be around $47k as the Mello Roos is a little over $13k.
Someone wanted to see it early because they would miss it if they would go into labor.
Oh, that buyer....I have no idea if that buyer saw the home or not.
It?s a surprised the dude didnt get more than 3.3 after raising the price.
$47k PT is nut. Thanks for providing GP fund. My bike ride there is just gonna be nicer.
Where did you get that from. It's NOT 2% property tax including MR.
Base property tax is 1.05%. MR is about $13.5k, which could be increased by up to 2% every year.
So this coming one would be 3,300,000 * 0.0105 = $34,650 + $13,500 = $48,150.
This is where you're confused about MR. MR is not a %. It's a dollar amount that could be increased by up to 2% each year.
Just like anywhere else, GP property tax is 1.05% + MR. It just came out to 1.7% for this particular house in this year's assessment. The next one, it's lower because the home price went up. It's going to be 1.46%.
Sleepy Joe of LF
Only GP?s special MR that goes up 2% then after that it becomes maintenance fee after 40 years w/ possible 5% increase if i remember correctly. Other area MR dont usually go up 2% annually.
The Mello Roos was just under $13k when the home was purchased for $1.89m. The 1.8-1.9% property tax is for new Great Park homes when they are bought new, not what the property tax % is. The new buyer's property tax rate is approx. 1.45%.
usctrojancpa
Well-known member
The seller has selected a buyer and we have opened escrow today. I'll update the status of the listing once the deposit hits escrow. The buyer only has a 7 day contingency period and there are 2 very strong back up buyers.
usctrojancpa
Well-known member
Got word from escrow earlier this morning that the transaction recorded today. The final sales price was $3,300,000 or $500,000 above the listing price which crushed the previous Great Park sales price of $3,060,000 (Crescendo Plan 3 model). We actually had 3 offers of $3,300,000 and 2 of them were all cash including the buyer that we selected. Congrats to both the buyer and seller.
Ready2Downsize
Well-known member
USCTrojanCPA said:
Congratulations! Did the pregnant lady ever show up?
usctrojancpa
Well-known member
Cares said:
Honestly, I thought it might go over $2.8m maybe around $3m but I never thought we'd get $3.3m. Just goes to show what can happen when there's a trophy property for sale when there's little inventory.
sleepy5136
Well-known member
63k in property taxes a year. WOW!
usctrojancpa
Well-known member
Ready2Downsize said:
Which pregnant lady?
usctrojancpa
Well-known member
sleepy5136 said:
Not sure where you are getting your numbers but the property tax will be around $47k as the Mello Roos is a little over $13k.
usctrojancpa
Well-known member
Also, the initial high offer which was a financed offer before counters was in the low $3.2m and the seller was asking me if we should accept it. Lazy agents would definitely have accepted that offer but we had 2 cash buyer offers in the mid-to-high $3.1m so I knew we'd get a higher price if we did a best & final counter. So I told the seller that we should every buyer back and that's where he told me to bump the listing price to $3.3m Both of those cash buyers came up to $3.3m and we got a last minute $3.3m offer on Thursday before the counters were due. The initial high buyer did not increase their price on their counter.
Ready2Downsize
Well-known member
USCTrojanCPA said:
Someone wanted to see it early because they would miss it if they would go into labor.
usctrojancpa
Well-known member
Ready2Downsize said:
Oh, that buyer....I have no idea if that buyer saw the home or not.
BlackKnight
New member
USCTrojanCPA said:
It?s a surprised the dude didnt get more than 3.3 after raising the price.
$47k PT is nut. Thanks for providing GP fund. My bike ride there is just gonna be nicer.
CalBears96
Well-known member
sleepy5136 said:
Where did you get that from. It's NOT 2% property tax including MR.
Base property tax is 1.05%. MR is about $13.5k, which could be increased by up to 2% every year.
So this coming one would be 3,300,000 * 0.0105 = $34,650 + $13,500 = $48,150.
irvinebullhousing
Well-known member
Wow, nice. Congrats on a well done transact.
sleepy5136
Well-known member
I thought GP property taxes is 1.8-1.9%?CalBears96 said:
CalBears96
Well-known member
sleepy5136 said:
This is where you're confused about MR. MR is not a %. It's a dollar amount that could be increased by up to 2% each year.
Just like anywhere else, GP property tax is 1.05% + MR. It just came out to 1.7% for this particular house in this year's assessment. The next one, it's lower because the home price went up. It's going to be 1.46%.
BlackKnight
New member
CalBears96 said:
Sleepy Joe of LF
Only GP?s special MR that goes up 2% then after that it becomes maintenance fee after 40 years w/ possible 5% increase if i remember correctly. Other area MR dont usually go up 2% annually.
Sidehussle
Member
The pregnancy excuse is prolly true and the client is desperate to move out of the birthing home she's staying at with the rest of the China moms, haha!
USCTrojanCPA said:
usctrojancpa
Well-known member
sleepy5136 said:
The Mello Roos was just under $13k when the home was purchased for $1.89m. The 1.8-1.9% property tax is for new Great Park homes when they are bought new, not what the property tax % is. The new buyer's property tax rate is approx. 1.45%.