You are definitely on the high side of paying mello roos. There is only a few areas in Santa Clarita that actually pay that much. You can also check with LA County tax Assesors.
http://assessor.lacounty.gov/extranet/default.aspx... more
Lyl
From the information you have given to me I would feel at ease with a 540 to 550 offer The builder should not be offended at this price he will counter with an offer and you can come to a reasonable and equity price you both can live with.... more
He will need to contact his lender and ask about a loan modification, just because the value goes down isnt a right to get your mortgage reduced, he needs to show a financial need and the ability to pay something. Refinancing into an fha loan will not help him get his loan amount reduced. If he can show a financial need then he may qualify for a short sale to sell the property at todays market price. good luck... more
The easiest thing to do is ask your local Realtor. They can find that information in the MLS or through their local title rep. If you are not working with an agent and looking in Valencia, Ca. I would love to be of help.... more
You can estimate the total cash to close and the monthly mortgage payment with principal & interest, real estate taxes and homeowners insurance with the link below. You can also estimate the maximum seller assist (if applicable).... more
It sounds like you are interested in a newer home because the only area in Valencia that has anything like $500 a month is the homes built by Lennar (Except the Canterbury tract in Tesoro). The pricing of the homes have been reflected because of the high mello roos that the builder has passed on to the buyer. Meaning if you were to buy the same house in a different area of Valencia the price would be most likely higher.
There are areas within Valencia that have no mello roos whatsoever but most those homes are at least 20 years or older.
As for the HOA most all areas have the HOA in Valencia becuase Valencia was one of the first planned communities within the United States with community facilities in mind from the beginning. Newhall Land & Farm wanted to create an area for families to feel safe and have areas to gather such as rec centers, pools, tennis courts, parks, and paseo systems. Older communities the HOA is very little but some newer communities within Valencia are much higher.... more