For the Real Estate Drop in sales and price Naysayers HOLD ONTO YOUR HATS

[attitude]

Traffic aside it was beautiful out there

I like the north valley, it is a lot more green than I expected.

Side note, you followed me on IG this morning, not sure if you knew that lol.

 

[BHC Vic]

I like the north valley, it is a lot more green than I expected.

Side note, you followed me on IG this morning, not sure if you knew that lol.

I figured it out once I saw the vette. The boat accident video linked to you

 

[Boatymcboatface]

Better do your homework on new builds especially on Mello-Roos tax. When we were shopping in Temecula/French valley we tried looking at a few new builds until they mentioned the $400-$600 melloroos tax!

 

[attitude]

Better do your homework on new builds especially on Mello-Roos tax. When we were shopping in Temecula/French valley we tried looking at a few new builds until they mentioned the $400-$600 melloroos tax!

I’m not sure if there is any melloroos out here, I know it is all over in CA.

What I have seen is peoples mortgage going up a year after purchase because their property tax was based off a bare lot and now that there is a house on it the value obviously has gone up….

 

[HNL2LHC]

I’m not sure if there is any melloroos out here, I know it is all over in CA.

What I have seen is peoples mortgage going up a year after purchase because their property tax was based off a bare lot and now that there is a house on it the value obviously has gone up….

Right!?!?!?! Then add in the HOA that is under funded with a new community. Realigning costs once it is not funded by the developer. You could be looking at $1k over what you thought that you were paying.

 

[attitude]

Right!?!?!?! Then add in the HOA that is under funded. You could be looking at $1k over what you thought that you were paying.

Maybe I’m stupid or I am just over estimating the average persons intelligence, but how do you miss the fact that your property tax is only based on a bare lot value? Even running a mortgage payment calculator on Zillow will show you what your property tax should be.

Do people just walk into a new build office and ask what the payment is on house X, then buy it with no research? lol

 

[HNL2LHC]

Maybe I’m stupid or I am just over estimating the average persons intelligence, but how do you miss the fact that your property tax is only based on a bare lot value? Even running a mortgage payment calculator on Zillow will show you what your property tax should be.

Do people just walk into a new build office and ask what the payment is on house X, then buy it with no research? lol

Yeah, people rush into things and do not understand what they are doing or signing for. That is why the government feels that they have to step in and create laws to safeguard buyers. Rather than not accepting that the buyers should know what they are doing and the school systems teach this. If you still don’t grasp this take a look at Caleb Hammer podcast Financial Audit. Clueless people and their finances are among us.

 

[Done-it-again]

Better do your homework on new builds especially on Mello-Roos tax. When we were shopping in Temecula/French valley we tried looking at a few new builds until they mentioned the $400-$600 melloroos tax!

Most if not all new community builds going in will have melloroos to pay back the infrastructure going in.

 

[attitude]

Most if not all new community builds going in will have melloroos to pay back the infrastructure going in.

Just looked up my city. Not only do we not have Mello-Roos tax, but in 2023 they lowered property taxes due to an abundance of property taxes coming in from new homes.

Wild…

 

[Done-it-again]

Just looked up my city. Not only do we not have Mello-Roos tax, but in 2023 they lowered property taxes due to an abundance of property taxes coming in from new homes.

Wild…

how old is your community?

 

[attitude]

how old is your community?

My neighborhood is about 15 years old, but our city does not have Mello-Roos. That is a CA specific tax.

 

[Bobby V]

Just looked up my city. Not only do we not have Mello-Roos tax, but in 2023 they lowered property taxes due to an abundance of property taxes coming in from new homes.

Wild…

My neighborhood is about 15 years old, but our city does have Mello-Roos. That is a CA specific tax.

Maybe Im reading your posts wrong. But it looks like one post says your city doesn’t have mello Roos and the other says you do.

BTW….Other states have their own version of MR.

 

[attitude]

Maybe Im reading your posts wrong. But it looks like one post says your city doesn’t have mello Roos and the other says you do.

Thanks for catching that, we do not have Mello-Roos.

I did not know until today, but Mello-Roos is a CA specific tax.

 

[Bobby V]

Thanks for catching that, we do not have Mello-Roos.

I did not know until today, but Mello-Roos is a CA specific tax.

Yes MR is CA specific. But other states have their own version of MR.

 

[JL95]

Getting hit with the supplemental tax as a first time home buyer is fun. I think even my buddy who bought new had to do it as well

 

[attitude]

Yes MR is CA specific. But other states have their own version of MR.

Thankfully, AZ does not have a tax similar to MR. According to Google AI…

One less thing to worry about.

 

[Done-it-again]

My neighborhood is about 15 years old, but our city does not have Mello-Roos. That is a CA specific tax.

Then likely your community has paid back the infrastructure loan and reduced the taxes. Our community in CA is 11yr old and ours has been reduced, think total is 15 yrs then no longer applied.

 

[Bobby V]

Thankfully, AZ does not have a tax similar to MR. According to Google AI…

One less thing to worry about.

Ive lived and owned several homes in So Cal. Never payed MR. Not even sure of a city that has MR around me now in YL? Im sure there somewhere.

 

[EmpirE231]

Getting hit with the supplemental tax as a first time home buyer is fun. I think even my buddy who bought new had to do it as well

I remember that.... WTF CA!

 

[bonesfab]

Yeah, people rush into things and do not understand what they are doing or signing for. That is why the government feels that they have to step in and create laws to safeguard buyers. Rather than not accepting that the buyers should know what they are doing and the school systems teach this. If you still don’t grasp this take a look at Caleb Hammer podcast Financial Audit. Clueless people and their finances are among us.

The schools will never have a life class. It is way easier to fleece an uninformed populace. Need a class that teaches true life. Basic finance should be the minimum they teach.

 

[attitude]

Ive lived and owned several homes in So Cal. Never payed MR. Not even sure of a city that has MR around me now in YL? Im sure there somewhere.

From my understanding it is only imposed on new builds. Not many new builds in OC these days.

 

[BHC Vic]

Ive lived and owned several homes in So Cal. Never payed MR. Not even sure of a city that has MR around me now in YL? Im sure there somewhere.

Chino has them on the newer homes. Hoa and Mr

 

[JLG614]

Chino has them on the newer homes. Hoa and Mr

Yaa chino and Eastvale definitely have them. My brother bought his house in eastvale around 2012 and I think he paid like 1 or 2 years of MR and then it was done because the community had paid for 15 years. When we were looking for our first home we looked around chino and eastvale at new builds and every single one had MR for around 15 years I believe

 

[attitude]

If momma could find a job I’d buy this in a heart beat. This is a steal and still $4k a month…

Hopefully the market keeps trending this way.

https://www.zillow.com/homedetails/26107-S-196th-St-Queen-Creek-AZ-85142/55278620_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

 

[shintoooo]

I think you should buy real estate whenever you can afford it to your liking and as long as you’ve dotted your and crossed your ,️ don't let anyone stop you because we’ve all made a killing from real estate even some of us that bought in 2008.

You can’t spend your time timing your life. This is the place to live and they all want a piece of this land. Buy Buy Buy, whenever you want and can.

The End.

 

[HNL2LHC]

I think you should buy real estate whenever you can afford it to your liking and as long as you’ve dotted your and crossed your ️ don't let anyone stop you because we’ve al made a killing from real estate even some of us that bought in 2008.

You can’t spend your time timing your life. This is the place to live and they all want a piece of this land. Buy Buy Buy, whenever you want and can.

The End.

Right there with you. We always bought when it was good for the family. Most times it was not the best market to do so. But after 15 years or so it really does not matter. Only on that we timed right was Havasu in 2019. Bottom line if you buy high you never loose $$$ unless you sale. There are a lot of options. I find that most people don’t have the patience and pull the plug too soon. There are many options.

 

[Looking Glass]

Why not buy an existing home, as the cost per ft. is generally lower, the landscaping may be adequate, and it may have window coverings. Second, I’d tell them to lower their expectations for their first home. Why a “worthwhile home”, and not a fixer?

As an example, my first home was ~850 sq. ft,, with a bad roof, needing paint inside and out, drywall texturing inside, sagging porch, and termite damage. We sold it 3 years later, after doing the repairs, and bought a new home with ~2500 sq. ft. We didn’t have money for the unexpected termite repairs (had to jack up the house and replace the plating…a previous owner had creatively hidden it ), so our realtor found a contractor who agreed to delay payment until closing. It was good experience too, which we later used to flip fixers when I was between jobs.

I think many people expect too much too soon and too easily.

The thing that would keep me up at night on buying one of these homes, does it take Both incomes to pull it off? When/If one the two lose their job, get sick ETC. Is There a Plan?

Not dealing with it after it happens. I sure appears many let their "LOVE" for the home cancel ot any thoughts about What If.

 

[Havasu blue label]

The thing that would keep me up at night on buying one of these homes, does it take Both incomes to pull it off? When/If one the two lose their job, get sick ETC. Is There a Plan?

Not dealing with it after it happens. I sure appears many let their "LOVE" for the home cancel ot any thoughts about What If.

Smart man

 

[Looking Glass]

Smart man

Thinking back to "08 and many other times, the first thing to go are Boats,Toys,Vehicles, on and on, it sure would be tragic to have a Family Talk that "WE are moving to an apartment or worse.

 

[attitude]

The thing that would keep me up at night on buying one of these homes, does it take Both incomes to pull it off? When/If one the two lose their job, get sick ETC. Is There a Plan?

Not dealing with it after it happens. I sure appears many let their "LOVE" for the home cancel ot any thoughts about What If.

Dual income is the new normal. My fiancée is the only stay at home mom I know under 30, but we rent.

The other issue I’m seeing is people get married and buy a house, but then they can’t have kids because they can’t afford to give up one income or pay thousands for daycare.

 

[Looking Glass]

Dual income is the new normal. My fiancée is the only stay at home mom I know under 30, but we rent.

The other issue I’m seeing is people get married and buy a house, but then they can’t have kids because they can’t afford to give up one income or pay thousands for daycare.

I was not criticizing the "2" Incomes, but just thnking if purchasing a home that is right on the edge and one moth or more missing a payment and getting behind is often tragic. That s the "Norm" then carry on, but as with the Day Care issue and others, it is kind of nice occasionally to Go "OUT" and enjoy life a bit.

 

[4Waters]

If momma could find a job I’d buy this in a heart beat. This is a steal and still $4k a month…

Hopefully the market keeps trending this way.

https://www.zillow.com/homedetails/26107-S-196th-St-Queen-Creek-AZ-85142/55278620_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

That's a cool million in California

 

[gqchris]

Maybe I’m stupid or I am just over estimating the average persons intelligence, but how do you miss the fact that your property tax is only based on a bare lot value? Even running a mortgage payment calculator on Zillow will show you what your property tax should be.

Do people just walk into a new build office and ask what the payment is on house X, then buy it with no research? lol

Yes. My 80 year old Dad just did that remember when I told you he bought in Coolidge? They promised him 10k incentive. Hasnt seen a dime yet. He had me help him docusign his paperwork and Im like “you should read this”. He says “all i care about is the payment. Im likr OK Pops.

 

[77charger]

Never been there. One of these days I need to do a AZ tour and visit old friends and check out where some of my river neighbors live. I just couldn't handle working in the heat.

You downscale 1-3 man crew do smaller jobs enjoy the cost of living then in from mid may to mid sept you cut back on the work only do indoor jobs here and there hit the lake midweek enjoy.

 

[Riverbottom]

Thankfully, AZ does not have a tax similar to MR. According to Google AI…

One less thing to worry about.

Yes they do. My daughter is looking at new houses in Estrella Park ( west valley ) and they have a monthly fee for the infrastructure. AKA Melloroos.

 

[attitude]

Yes. My 80 year old Dad just did that remember when I told you he bought in Coolidge? They promised him 10k incentive. Hasnt seen a dime yet. He had me help him docusign his paperwork and Im like “you should read this”. He says “all i care about is the payment. Im likr OK Pops.

No bueno, hopefully he check his property tax assessment.

 

[attitude]

Yes they do. My daughter is looking at new houses in Estrella Park ( west valley ) and they have a monthly fee for the infrastructure. AKA Melloroos.

I just re went through Google and I cannot find anywhere that says there is an infrastructure tax on AZ new builds. It might be tied to the developer?

 

[Riverbottom]

I just re went through Google and I cannot find anywhere that says there is an infrastructure tax on AZ new builds. It might be tied to the developer?

It is the entire Estrella Mountain Ranch area. Her melioroos would be $ 145.00 a month, but has no ending date. after researching it only ends when the entire area is developed. If it was fifteen years I could understand. I don't like that it is open ended. It is not disclosed in the new home sales pitch.

 

[attitude]

It is the entire Estrella Mountain Ranch area. Her melioroos would be $ 145.00 a month, but has no ending date. after researching it only ends when the entire area is developed. If it was fifteen years I could understand. I don't like that it is open ended. It is not disclosed in the new home sales pitch.

The end not being disclosed is weird but that is way cheaper than typical Mello-Roos.

It sounds more like a fee the city (Goodyear) is charging the developer that the developer is passing onto the home owners.

 

[Riverbottom]

The end not being disclosed is weird but that is way cheaper than typical Mello-Roos.

It sounds more like a fee the city (Goodyear) is charging the developer that the developer is passing onto the home owners.

Yes it is pretty reasonable, however I don't like the fact it is not disclosed. Also it changes from tract to tract, only a few blocks away. It is paid to the city I believe. Trying to talk the kids out of a new build. By the time they add window coverings and landscaping, etc. it will be over their budget. They currently live in a tract in Avondale with no extra fees.

 

[OldSchoolBoats]

My wife's sister and her soon to be husband are looking for homes in the Murrieta area. They have a budget of $600k, only have a 3.5% down payment, both of them bring in around $150k combined.

They looked at a new construction taylor morrison in winchester, the home was $585k and with the 3.5% down it came in around $4500-4750/month with the pmi and $160 hoa lol.

Who wants to do that right now? They are like 25/26.

Also all the worthwhile houses start at 700k and up.

Not to mention those houses are also in a high tax area with mello roos so that payment will be $5k +

Most all of the new developments in French Valley/Winchester/Menifee are 2% + tax rate. That brand new Liberty High School and new Harvest Hills STEM Academy, are not free!! Not to mention all the Valley Wide managed parks too that just got built.

 

[Boatymcboatface]

It is the entire Estrella Mountain Ranch area. Her melioroos would be $ 145.00 a month, but has no ending date. after researching it only ends when the entire area is developed. If it was fifteen years I could understand. I don't like that it is open ended. It is not disclosed in the new home sales pitch.

It can be bought up by another developer to get their development approved but then they pass that tax onto the homeowner so now instead of $145 it’s $290 to the new homeowner. Friend had a $625 MR on his house in valley center but didn’t find out until a year after he bought the house. He used a friend and they didn’t see it because the previous owner payed the year off upfront.