Rienda // Rancho Mission Viejo

socal78

Well-known member
I toured the visitor's center and some models at Rienda. There are a lot of new homes being built in the areas south of Ladera, south of Coto, and east of SJC. When you take the 241 S and get to Cow Camp Road, it's beautiful down there. A lot of that area will remain open space. But there are several new communities. Rienda is only one of them. They each have their own names: Esencia, Sendero, Rienda, etc. Here's a sheet showing the plans at Rienda. Of course, this could be found on their website too. I'm mainly posting to start a place for conversation in case anyone wants to discuss these new areas.

www.ranchomissionviejo.com
 

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One thing I thought was weird: the solar panels are not included in the home price. At least not at Dahlia. The buyer has to decide to either lease them or buy them. I think they said it was another $20k.

It has been a really long time since I've looked at new constructions. So I don't know if that's unconventional or not. It just seemed strange. That would be kind of like saying... hey, the garage door is extra. But you don't have a choice not to get it.
 
It's almost 1% of the purchase price. Makes the Great Park Mello Roos somewhat reasonable.

Yeah, iirc almost $10k on Dahlia. I threw the sales office papers away. Can not confirm. What's weird is they don't call it Mello roos. The FAQ sheet called it "(something) assessment". At first when I see the word "assessment" that made me think it was some sort of special assessment, like HOA related. When I pointed it out, they said it's Mello roos. Okay so just call it that. 🤷🏼‍♀️
 
Yeah, iirc almost $10k on Dahlia. I threw the sales office papers away. Can not confirm. What's weird is they don't call it Mello roos. The FAQ sheet called it "(something) assessment". At first when I see the word "assessment" that made me think it was some sort of special assessment, like HOA related. When I pointed it out, they said it's Mello roos. Okay so just call it that. 🤷🏼‍♀️
Although it's more commonly known as Mello-Roos, due to the Act being authored by Henry J. Mello and Mike Roos, the Act itself is called Community Facilities Act. Home builders in Irvine would list it as CFDs rather than Mello-Roos. The County Treasurer lists it as Special Assessment.
 
Someone's gotta pay for the new roads parks, etc. It would not be right to have a county wide burden sharing of expenses only the locals will be using. If someone wants that new home feeling vs resale, CFDs are an appropriate way to pay these costs. Yes, I paid MR/CFD expenses for 15yrs, and I wasn't thrilled about it, but in the long run it wasn't terrible either.
 
Although it's more commonly known as Mello-Roos, due to the Act being authored by Henry J. Mello and Mike Roos, the Act itself is called Community Facilities Act. Home builders in Irvine would list it as CFDs rather than Mello-Roos. The County Treasurer lists it as Special Assessment.
Mello Roos / CFDs are a legal tool for developers to pay for infrastructure costs via bond sale proceeds and let (future) homeowners repay the bonds over time. In places where MR/CFDs aren't used, generally developers pay the infrastructure costs up front and recoup the cost via sale price of the houses and/or minimize the infrastructure spend (i.e. less parks, schools, etc, when possible).
 
Mello Roos / CFDs are a legal tool for developers to pay for infrastructure costs via bond sale proceeds and let (future) homeowners repay the bonds over time. In places where MR/CFDs aren't used, generally developers pay the infrastructure costs up front and recoup the cost via sale price of the houses and/or minimize the infrastructure spend (i.e. less parks, schools, etc, when possible).
But ultimately what ends up happening is that developer/builder still gets the maximum $/sq ft price and the homeowner still gets shafted with the MR on top of that. Historically, these were 15-20 year bonds that did not adjust for inflation. Now some of these increase 2% per year. Then when the underlying bond is paid off, the service component of the bond remains in perpetuity - sure smells and feels like a property tax yet
 
But ultimately what ends up happening is that developer/builder still gets the maximum $/sq ft price and the homeowner still gets shafted with the MR on top of that. Historically, these were 15-20 year bonds that did not adjust for inflation. Now some of these increase 2% per year. Then when the underlying bond is paid off, the service component of the bond remains in perpetuity - sure smells and feels like a property tax yet
I tend to agree. There are buyers who fixate on the price / sqft and don't factor in MR into the cost equation. The way great park MR works is especially unique which fits the bond + perpetual service fee you describe. Those houses have a tremendous amount of property tax *and* high price / sqft. The upside though is the great park facilities are pretty rad. Tons of parks, miles of protected walking paths, multiple brand new schools, efficient roundabouts, an ice rink, a music amphitheater, a water park, handfuls of baseball, soccer, and tennis facilities. They even threw in free toxic soil :-D. But anyway, yes, MR can sure feel like a property tax, but at least it can benefit the local users.
 
I tend to agree. There are buyers who fixate on the price / sqft and don't factor in MR into the cost equation. The way great park MR works is especially unique which fits the bond + perpetual service fee you describe. Those houses have a tremendous amount of property tax *and* high price / sqft. The upside though is the great park facilities are pretty rad. Tons of parks, miles of protected walking paths, multiple brand new schools, efficient roundabouts, an ice rink, a music amphitheater, a water park, handfuls of baseball, soccer, and tennis facilities. They even threw in free toxic soil :-D. But anyway, yes, MR can sure feel like a property tax, but at least it can benefit the local users.
But how often are residents using the facilities to justify the cost? I feel like I’ll need to use the facilities everyday and probably even live in the pool to justify the cost. Where as I can use all those facilities besides the pool and pay nothing to use it.

I would rather throw my kids to private school instead of paying a premium for a public school.
 
But how often are residents using the facilities to justify the cost? I feel like I’ll need to use the facilities everyday and probably even live in the pool to justify the cost. Where as I can use all those facilities besides the pool and pay nothing to use it.

I would rather throw my kids to private school instead of paying a premium for a public school.
We've been over this before. I guess you don't need police stations and fire stations, right? Especially in fire hazard zones. Those are all part of CFDs.

And private schools cost what, like $20k a year?
 
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We've been over this before. I guess you don't need police stations and fire stations, right? Especially in fire hazard zones. Those are all part of CFDs.

And private schools cost what, like $20k a year?
that's why I like resales....no or low Mello-roos, mature trees, bigger lots/more privacy, better locations...new parks I can always drive to and enjoy (as long as it is not gated).
 
that's why I like resales....no or low Mello-roos, mature trees, bigger lots/more privacy, better locations...new parks I can always drive to and enjoy (as long as it is not gated).
Do you mean outside of Irvine? I looked it up. The only Irvine neighborhoods with no MR are Turtle Rock, El Camino Real, University Park, and most of Northwood and Woodbridge. And the neighborhoods that were built 35 years ago.

Do you mean mature trees in your yard? No thanks.

Other than GP, there a lot of new homes that do have bigger lots. Also, other than GP, other communities like Eastwood, OH, PS, have relatively low MR, around $3800 a year. It's not low, but it's not that bad, considering the number of fire stations we're getting in a fire hazard zone.

Better locations? That's preference. I absolutely hate neighborhoods next to industrial/commercial area. So your definition of better locations is worse locations for me.

You like old homes, but I like new homes. So when it's all said and done, it's just preference.
 
But how often are residents using the facilities to justify the cost? I feel like I’ll need to use the facilities everyday and probably even live in the pool to justify the cost. Where as I can use all those facilities besides the pool and pay nothing to use it.

I would rather throw my kids to private school instead of paying a premium for a public school.
The value each resident places on MR paid facilities definitely varies. All those parks, walking distance schools, and sports facilities might mean a lot to one family, nothing to another, and everything in between to others. I suppose it's nice to know the MR costs & benefits in advance to make an informed purchase.

Private school tuition varies too, as do their locations. There's some real value to a 9/10 rated IUSD in walking distance vs a $xx,xxx per year private school vs a meh/10 driving distance public school vs don't care no kids in the household. Again, nice to be able to know these things ahead of time to tailor a house purchase decision.
We've been over this before. I guess you don't need police stations and fire stations, right? Especially in fire hazard zones. Those are all part of CFDs.

And private schools cost what, like $20k a year?

If you compare the size of, for example, the Orchard Hills fire station vs the OH K-8 school vs the non existing OH PD station, I think it's clear that yes CFDs may pay for police/fire but the vast majority of MR, at least in Irvine, pays for parks, schools, and infrastructure.

when it's all said and done, it's just preference.

Agreed
 
The value each resident places on MR paid facilities definitely varies. All those parks, walking distance schools, and sports facilities might mean a lot to one family, nothing to another, and everything in between to others. I suppose it's nice to know the MR costs & benefits in advance to make an informed purchase.

Private school tuition varies too, as do their locations. There's some real value to a 9/10 rated IUSD in walking distance vs a $xx,xxx per year private school vs a meh/10 driving distance public school vs don't care no kids in the household. Again, nice to be able to know these things ahead of time to tailor a house purchase decision.


If you compare the size of, for example, the Orchard Hills fire station vs the OH K-8 school vs the non existing OH PD station, I think it's clear that yes CFDs may pay for police/fire but the vast majority of MR, at least in Irvine, pays for parks, schools, and infrastructure.
My son is already off to college, but I still like the fact that I live in the IUSD.

And I do agree with you that buyers should know their needs (schools, parks, sports facilities, etc.) before deciding where to buy. Personally, I would stay away from GP due to the extremely high MR, but I would buy at PS/EW/OH due to the value of IUSD with relatively low MR.

I do agree that a majority of the MR pays for parks, schools and infrastructure. This is especially true for GP.
 
My son is already off to college, but I still like the fact that I live in the IUSD.

And I do agree with you that buyers should know their needs (schools, parks, sports facilities, etc.) before deciding where to buy. Personally, I would stay away from GP due to the extremely high MR, but I would buy at PS/EW/OH due to the value of IUSD with relatively low MR.

I do agree that a majority of the MR pays for parks, schools and infrastructure. This is especially true for GP.
We're in agreement - the stars have aligned yet again!

Buying in IUSD seems like a smart move since the well known exceptional schools attract buyers who are willing to pay high prices.

I was doing the math on K-12 private school tuition for 2 kids vs GP MR the other night. GP MR was cheaper (depends on which private school of course). It gets fuzzy when you include the Irvine $/sqft premium. Wife said no to GP though :-( Cielo plan 1 or bust :p
 
We're in agreement - the stars have aligned yet again!

Buying in IUSD seems like a smart move since the well known exceptional schools attract buyers who are willing to pay high prices.

I was doing the math on K-12 private school tuition for 2 kids vs GP MR the other night. GP MR was cheaper (depends on which private school of course). It gets fuzzy when you include the Irvine $/sqft premium. Wife said no to GP though :-( Cielo plan 1 or bust :p
My wife refuses to move away from PS, so yeah, Cielo Plan 1 or bust. 😂
 
Do you mean outside of Irvine? I looked it up. The only Irvine neighborhoods with no MR are Turtle Rock, El Camino Real, University Park, and most of Northwood and Woodbridge. And the neighborhoods that were built 35 years ago.

Do you mean mature trees in your yard? No thanks.

Other than GP, there a lot of new homes that do have bigger lots. Also, other than GP, other communities like Eastwood, OH, PS, have relatively low MR, around $3800 a year. It's not low, but it's not that bad, considering the number of fire stations we're getting in a fire hazard zone.

Better locations? That's preference. I absolutely hate neighborhoods next to industrial/commercial area. So your definition of better locations is worse locations for me.

You like old homes, but I like new homes. So when it's all said and done, it's just preference.
I've already done living in a new build and after few years the new smell just wore off..yes to each of its own but while I am not in Irvine, the school district is on-par with Irvine so I don't have to worry about resale value and I get a lot of bang for the buck for the house here. I just drove around the Turtles and had a hike in Bommer Canyon today (also checked out the Settlers Park yesterday to see what's the fuss about the parking situation in the Groves lol...) and even the Turtle/Shady Canyon area cannot compare to where I live now. I used to enjoy driving along Culver/Harvard but today it just seemed so dull and boring...and with more traffic than I like on a weekend (and a lot of rude and impatient drivers that I could not even relax and drive in slow pace, on the right most lane just above speed limit..)...not missing Irvine too much, except the occasional food cravings.
 
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