Mello-Roos is to the parcel, not to the individual owner.
You might want to look into a transfer of your basis for the ad valorem part of your property taxes. That is the part that is NOT mello-roos.
If you decide to sell your current Lincoln Crossing home, your listing agent will write in the marketing remarks that there is no Mello-Roos on this particular house. That alerts buyers and agents that a house without Mello Roos will have a lower payment than a comparable house that has those fees. This makes your house more attractive than a similar house in the same price range.... more
This property sold 2/17/2012 and yes, it did have a covered patio. Sorry you missed out on this one, but there are others. Let me know if I can help you find a property that meets your criteria.... more
Office rent Forecast: In 2011, asking rents will tick up 0.4 percent to $23.72 per
square foot as effective rates rise 0.5 percent to $18.82 per square foot.
Retail rents: In 2011, asking rents will inch up 0.3 percent to $21.36 per square foot and effective
rents will rise 0.4 percent to $17.53 per square foot. Asking and effective rents declined 0.6
percent and 1.5 percent, respectively, last year.
Source: Marcus & Millichap research report... more
These do come available but they go quick beacuse we have alot of investors in the area. Have you been shoping for long or just gettign the wheels spinning? I live and operate in the heart of Lincoln's old town area where you will be finding most of these lower priced opportunites...... more
Like the real estate property taxes, and your homeowners insurance, the Mello Roos taxes can be rolled into your monthly payment. Since they are a form of real estate tax, they are an annual tax that is paid in 2 installments. The first installment is due by Dec 10th, and the second installment is due by April 10th.
You have a choice, when obtaining a new mortgage loan, to add what is called an "impound account" (sometimes called an "escrow account") This is basically a savings account set up by your new mortgage company to collect 1/12 of your tax and insurance bill, so that you can pay a small portion monthly, instead of larger bill twice a month. This would be set up by the loan officer and the title/escrow company during your purchase process.
The HOA is paid directly to the Association. I do not believe this is something that is traditionally added to your mortgage impound account, since it is already broken down monthly (or quarterly in some associations).
As for buying a home with or without Mello Roos, it is a personal preference. You could buy a $300,000 home for about $1,820/mo with taxes and insurance, or you could buy a $235,000 home for $1,440/mo and pay $380/mo in Mello Roos. In Lincoln crossing there is roughly a $65,000 difference in two similar houses with or without Mello Roos. Obviously this is only an ESTIMATE, since the real estate market is constantly shifting, and rates are changing. These numbers also change based on the size of the home, and current rates, etc.
If you want to be close to shopping, in a new home, and close to Hwy 65 to commute, then paying a lower price with the extra Mello Roos may be worth it for you. If you dont want the risk of the Mello Roos going up, or being extended and potentially never getting paid off, then you may want to look at other areas like Foskett Ranch. There are newer homes, and I just sold a 4 bed, 3,226 sq ft home in great condition with solar and only 3 yrs old for $305,000, so there ARE other options if you want to get away from the extra tax assessment! :)
I would be glad to help if you have any other questions or if you have a home in mind that you would like to get some exact numbers for! Thanks for using Trulia.
The housing market should be trending upwards(not a lot - but some) over the next 5 yrs, plus the advantages that come with owning ie: the tax benefits, Interest rates in the low 4% range, piece of mind knowing you don't have to move unexpectedly are all things to consider. Location is a personal preference, great "bang for your buck" in Lincoln, other cities you mentioned cost more per sq ft and homes will most likely be older, if that's not an issue then I would advise to drive through a few neighborhoods. If schools are needed check out the greatschools web site as well. It all comes down to a personal preference. I just helped a buyer in Lincoln Crossing over 1700 sq ft for 205k and payment was same as rent if not less! Let me know if I can help in anyway.
If the escrow company gets wired funds early enough in the day to authorize its runner to have the county clerk record it , yes.
It depends on what time the wire arrives in the escrow company account. and is confirmed to be there. This is always a last minute game, because the funding department of the funding bank likes to hold on to the money as late as possible in order to earn a few extra cents of interest on that money.
This last minute game can ruin the funding / recording schedule in case someone along the chain is late getting back from lunch, has an extra heavy work load that day, or sneezes.
If funding is a cashiers check, the funds have to be held overnight, then no, not the same day.
I always advise clients to plan to record a day early, plan to pay an extra days interest. That way , a single common unexpected, but easily anticipated delay doesn't necessarily push the closing into the following week.
Funding and wiring delays are common, due to insurance issues, surprise funding conditions, banker workloads, vacation and sick days, birthday and Christmas parties, and that appetite bankers have to earn interest on the money in two places for that one magical day.
Better to be safer than sorry. Schedule your funding for the day before. Even if it costs you one extra day of interest. It is worth it for the peace of mind.... more
Trustee deed is the recorded document with the county. It could be a number of things. For instance if the loan was sold to a different lender and has an typographical error or the sellers name was recorded incorrectly.
No, It is a ploy to get subscribers to a service called Realty Trac. They hide the actual addresses because they want to sell you a monthly subscription charged to your credit card...
You want addresses of foreclosed Lincoln homes email one of the Realtors that advertise their services on Trulia. Write to her or him what your house shopping criteria are. You'll get full data sheets not teasers for a website subscription.... more
If you're doing a short sale, you can send whatever you want. Remember: A short sale is a transaction between a buyer and a seller. The contract is contingent upon approval of the lender. So let's say a seller gets a short sale offer. His/her first step is deciding whether he/she wants it. (Doesn't make a whole lot of difference, since the lender won't allow the seller to walk away with any money.) The contract is signed. Then the signed contract, along with the other documents in the short sale package, are sent to the lender for its approval or disapproval.... more
She absolutely needs to notify you. Is it being listed as a short sale? If so there might be an opportunity on your behalf for a purchase. Also contact a real estate attorney that give your legal rights.... more