Author Topic: Mello Roos reduction in WB,WE,Portola Springs  (Read 4397 times)

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Offline cottontail

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Mello Roos reduction in WB,WE,Portola Springs
« on: January 28, 2010, 04:56:00 PM »
I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2   MELLO-ROOS R2   (800)858-8233         
R8   MELLO-ROOS R8   (800)858-8233         

If you have property at WB or Portola, you can call them to confirm it.

Offline graceomalley

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #1 on: January 28, 2010, 05:10:00 PM »
Quote from: "cottontail"
I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2   MELLO-ROOS R2   (800)858-8233         
R8   MELLO-ROOS R8   (800)858-8233         

If you have property at WB or Portola, you can call them to confirm it.  


Great idea if it is real. Why didn't they do it 6 years ago? Sounds like the squeaky wheels get the oil. Greedy bastards.
« Last Edit: January 28, 2010, 05:19:00 PM by Anonymous »

Offline waitin4ever

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #2 on: January 28, 2010, 07:52:00 PM »
I thought this was only for Woodbury east. Going down to about 3000/yr.

never heard any such thing from woodury/portola springs builders.


Quote from: "cottontail"
I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2   MELLO-ROOS R2   (800)858-8233         
R8   MELLO-ROOS R8   (800)858-8233         

If you have property at WB or Portola, you can call them to confirm it.  

Offline cottontail

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #3 on: January 28, 2010, 09:46:00 PM »
It is supposed to be a reduce for all 3 communities. WB, WE and portola including existing residents. So please check it out if you can.

Offline ajw522

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #4 on: January 28, 2010, 10:01:00 PM »
If this is true that would be great!!!  Please, someone check it out....
Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart." -Steve Jobs (1955-2011)

Offline fe9000

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #5 on: January 28, 2010, 10:08:00 PM »
It is true.  However from I know, it's only WE and PS.  They have the R2 and R8 Mello Roos.  What I am not sure is Woodbury.  I have seen some property in Woodbury with R6 Mello Roos which is not part of the reduction.  If someone could confirm about Woodbury would be great.

Offline fe9000

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #6 on: January 28, 2010, 10:10:00 PM »
Quote from: "cottontail"
I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2   MELLO-ROOS R2   (800)858-8233         
R8   MELLO-ROOS R8   (800)858-8233         

If you have property at WB or Portola, you can call them to confirm it.  


Which sales person in WB did you hear that from?  Montecito rep told us Woodbury is not part of the reduction.

Anonymous

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #7 on: January 29, 2010, 11:00:00 AM »
If going down to $3k per year as noted above, what was it before?  Even at $3k/yr, wouldn't that still leave you with an effective tax rate of about 2% on a $600k purchase price?  That still sounds high. Or am I reading this wrong that it was $3k per year before and going lower now?

Thanks in advance for any info you have.  My ears perked up (with repect to Portola Springs) when I read they were reducing it --- but if still $3k, that remains a bit ticket on top of a big ticket house payment and HOA...

Offline waitin4ever

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« Reply #8 on: January 29, 2010, 11:24:00 AM »
I'm actively looking at homes in portola springs (paloma/Los arboles) /woodbury (montecito, dropped out when prices increased before phase 1)/Woodbury east (monterey/coronado).
only place I heard about Mello roos reduction up untill early this week was at woodbury east. From what I know

Portola springs is about 5800/yr.
woodbury is 4800-5000/yr.
Woodbury east was > 4000/yr going down to 3000/yr.

3000 per year gives a tax rate of about 1.6% on a monterey Plan 3 priced at 560K.


Quote from: "ck"
If going down to $3k per year as noted above, what was it before?  Even at $3k/yr, wouldn't that still leave you with an effective tax rate of about 2% on a $600k purchase price?  That still sounds high. Or am I reading this wrong that it was $3k per year before and going lower now?

Thanks in advance for any info you have.  My ears perked up (with repect to Portola Springs) when I read they were reducing it --- but if still $3k, that remains a bit ticket on top of a big ticket house payment and HOA...

Anonymous

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #9 on: January 29, 2010, 11:36:00 AM »
Quote from: "waitin4ever"
I'm actively looking at homes in portola springs (paloma/Los arboles) /woodbury (montecito, dropped out when prices increased before phase 1)/Woodbury east (monterey/coronado).
only place I heard about Mello roos reduction up untill early this week was at woodbury east. From what I know

Portola springs is about 5800/yr.
woodbury is 4800-5000/yr.
Woodbury east was > 4000/yr going down to 3000/yr.

3000 per year gives a tax rate of about 1.6% on a monterey Plan 3 priced at 560K.


That's better, thanks.

We really like that Plan 1Y at Paloma they modified with the upstairs (princess bedroom as my daugther calls it).  That's a perfect floor plan for a 1 child family.  Edit:  I just checked online and it looks like those are all sold out at this time.  We last visited probably 6 months ago, and if I recall it was in the low-mid $6's.

Offline cottontail

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #10 on: January 29, 2010, 12:10:00 PM »
Quote from: "ck"
If going down to $3k per year as noted above, what was it before?  Even at $3k/yr, wouldn't that still leave you with an effective tax rate of about 2% on a $600k purchase price?  That still sounds high. Or am I reading this wrong that it was $3k per year before and going lower now?

Thanks in advance for any info you have.  My ears perked up (with repect to Portola Springs) when I read they were reducing it --- but if still $3k, that remains a bit ticket on top of a big ticket house payment and HOA...


MR (specially R2 and R8) will go down from 3400 to 1700, but not all new communites have R2/R8.  That's about .3% for a 600k house, which means the tax rate will go from 1.8% to 1.5% for some houses having R2/R8.

If you have a tax parcel number and it contains R2 and R8, please call the above numbers to verify.

The following link can be used to search for tax in OC, just input your tax parcel number or your address:

http://tax.ocgov.com/tcweb/search_page.asp

Offline ajw522

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #11 on: January 29, 2010, 12:11:00 PM »
Quote from: "cottontail"
I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2   MELLO-ROOS R2   (800)858-8233         
R8   MELLO-ROOS R8   (800)858-8233         

If you have property at WB or Portola, you can call them to confirm it.  


If you look up any property on the OC Tax Collector site, you can see which Mello-Roos this falls under.  For example, I have a friend who lives in the Mille Fluers development in Woodbury - I looked up his address and viewed the full bill and the home fell under R2 Mello Roos and R6 Mello Roos.  

Here's the site:http://tax.ocgov.com/tcweb/search_page.asp

So does this mean the the new homes will also fall under these same Mello-Roos's?
Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart." -Steve Jobs (1955-2011)

Offline ajw522

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #12 on: January 29, 2010, 12:12:00 PM »
Quote from: "cottontail"
Quote from: "ck"
If going down to $3k per year as noted above, what was it before?  Even at $3k/yr, wouldn't that still leave you with an effective tax rate of about 2% on a $600k purchase price?  That still sounds high. Or am I reading this wrong that it was $3k per year before and going lower now?

Thanks in advance for any info you have.  My ears perked up (with repect to Portola Springs) when I read they were reducing it --- but if still $3k, that remains a bit ticket on top of a big ticket house payment and HOA...

MR (specially R2 and R8) will go down from 3400 to 1700, but not all new communites have R2/R8.  That's about .3% for a 600k house, which means the tax rate will go from 1.8% to 1.5% for some houses having R2/R8.

If you have a tax parcel number and it contains R2 and R8, please call the above numbers to verify.

The following link can be used to search for tax in OC, just input your tax parcel number or your address:

http://tax.ocgov.com/tcweb/search_page.asp



woops, I didn't know we were typing the same thing at the same time!
Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart." -Steve Jobs (1955-2011)

Offline scubasteve

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #13 on: January 30, 2010, 01:34:00 AM »
Sales office at Coronado just told me that TIC officially bought back some of the Mello Roos bond earlier this afternoon.  I haven't verified it, but I'm just glad I can breathe a sigh of relief since I kept seeing 1.9% on all of Coronado's marketing paraphernalia and pre-approval loan documents since they said they couldn't advertise the 1.5% until TIC officially bought back the bond. Hoooray!
« Last Edit: January 30, 2010, 01:36:00 AM by Anonymous »

Offline pete423

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Mello Roos reduction in WB,WE,Portola Springs
« Reply #14 on: January 30, 2010, 12:45:00 PM »
I just checked my contract for Portola Springs.  Portola Springs has R2 and R7.

 

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