Veranda (Aliso Viejo) by Shea Homes

NEW -> Contingent Buyer Assistance Program
ps9 said:
HOA $215, property tax is 1.12%, plan 1 MR is $5600, plan 2 is $6400, and plan 3 is $6500.

So effective tax rate for a plan 2 ($888,888) i'm guesstimating around 1.8%.  Ouch. 
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Like I said... charging Irvine prices for a non-Irvine location.
 
So with a 5/1 arm on a $700000 mortgage, HOA 215, and property tax rolled in, looking at $4500/month for a plan 2.  Current output is $2300/month.  So double my monthly and I get to live in Aliso Viejo and hit a few golf balls around next door, hmmmm...
 
bones said:
ps9 said:
So with a 5/1 arm on a $700000 mortgage, HOA 215, and property tax rolled in, looking at $4500/month for a plan 2.  Current output is $2300/month.  So double my monthly and I get to live in Aliso Viejo and hit a few golf balls around next door, hmmmm...
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What about Mortgage interest deduction?  Do you rent now?
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Don't really count mortgage interest deduction... AMT kicks in and makes it a wash.. if i do come out ahead, it's not enough to make or break the deal.
 
ps9 said:
bones said:
ps9 said:
So with a 5/1 arm on a $700000 mortgage, HOA 215, and property tax rolled in, looking at $4500/month for a plan 2.  Current output is $2300/month.  So double my monthly and I get to live in Aliso Viejo and hit a few golf balls around next door, hmmmm...
Click to expand...

What about Mortgage interest deduction?  Do you rent now?
Click to expand...

Don't really count mortgage interest deduction... AMT kicks in and makes it a wash.. if i do come out ahead, it's not enough to make or break the deal.
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You must be doing very well because your AGI has to be very high in order for you to begin getting phased out of your mortgage interest deduction.  As for the property tax deduction, a lot of 2 income households get phased out of that deducted due to AMT as that has a much lower AGI threshold.

Slight edit - your total itemized deduction (which include the mortgage interest deduction) begins to get reduced by $3 for every $100 over $166,800 in AGI for a married couple (thanks to AMT). 
 
I think ps9 went to a high school with API in the 700's

USCTrojanCPA said:
ps9 said:
bones said:
ps9 said:
So with a 5/1 arm on a $700000 mortgage, HOA 215, and property tax rolled in, looking at $4500/month for a plan 2.  Current output is $2300/month.  So double my monthly and I get to live in Aliso Viejo and hit a few golf balls around next door, hmmmm...
Click to expand...

What about Mortgage interest deduction?  Do you rent now?
Click to expand...

Don't really count mortgage interest deduction... AMT kicks in and makes it a wash.. if i do come out ahead, it's not enough to make or break the deal.
Click to expand...
You must be doing very well because your AGI has to be very high in order for you to begin getting phased out of your mortgage interest deduction.  As for the property tax deduction, a lot of 2 income households get phased out of that deducted due to AMT as that has a much lower AGI threshold.
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How can I find out what Mater Dei's API scores were back in the early 90s (I don't remember taking one of those tests)?  ???
 
bones said:
USCTrojanCPA said:
How can I find out what Mater Dei's API scores were back in the early 90s (I don't remember taking one of those tests)?  ???
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Do private schools even have API scores?  I think this only applies to public schools...
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I have no idea, that's why I'm asking.  I don't think I remember taking any API tests when I was in elementry school (public ones) but that was back in the 80s and it kind of a blur now.
 
According to Google, API tracking started in 1999 as part of the Public Schools Accountability Act.

The only testing I remember back in the day was something like the ACT that determined where you were in grade level in math, reading and other areas.
 
I was looking at this online last month... Starting in the low 1mm range ($1.0--something)... Today, starting in the mid 1.3 to 1.4mm...  Crazy.
 
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