djc
02-09-2008, 08:11 AM
http://bp3.blogger.com/_QMoXJ8fOgo4/R6v-zj5QZjI/AAAAAAAAB0M/T1_HigXoV6E/s400/4closure+ranch.JPG
... The initial master plan circa 2001-2003 was also quite decent. Some of the lot sizes were generous, the parks aplenty, and the sidewalks nice and wide. As for the mello roos? For a 3,000 sqft home at an asking price of roughly $500,000, the 0.5% mello roos only translate to roughly $2,500 per year.
But then the builders got greedy, and by 2005 they also realized the bubble was about to burst. To fully take adventage of the inflated prices at the peak of the bubble, the builders shrunk the lot sizes, reduced the number of parks, and increased the mello roos to 0.7-0.8%. And therefore the same 3,000 sqft home, but with an asking price of $850,000, ends up with $6,400 of mello roos per year.
http://bubbletracking.blogspot.com/2008/02/4closure-ranch-is-not-immune.html
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... The initial master plan circa 2001-2003 was also quite decent. Some of the lot sizes were generous, the parks aplenty, and the sidewalks nice and wide. As for the mello roos? For a 3,000 sqft home at an asking price of roughly $500,000, the 0.5% mello roos only translate to roughly $2,500 per year.
But then the builders got greedy, and by 2005 they also realized the bubble was about to burst. To fully take adventage of the inflated prices at the peak of the bubble, the builders shrunk the lot sizes, reduced the number of parks, and increased the mello roos to 0.7-0.8%. And therefore the same 3,000 sqft home, but with an asking price of $850,000, ends up with $6,400 of mello roos per year.
http://bubbletracking.blogspot.com/2008/02/4closure-ranch-is-not-immune.html
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