So here are a couple of the listings that caught my eye as pretty good deals-one on the high end and one that could be a good investment or a starter home.
207 Corte Sendero, Lincoln, CA 95648
This home is in the highly desireable neighborhood of Catta Verdera. A custom home with amazing views of the city and golf course, a nice location on a cul-de-sac and a built-in pool, I don’t think it will last too much longer. They recently reduced the price to $830,000. This home sits on .74 of an acre, 4 beds and 4 baths, 4174 sf, built in 2006 and is richly appointed with many upgrades. The pictures they posted really don’t do it justice. If this was my listing, I would have a lot of fun with the marketing.
The other new listing is located on the East side of Lincoln and is a Ron Ward built home and I just found out it went pending…That was quick! Homes that are priced well really move quick in this market. FYI, it was listed at $155,000, 3 bed 2 bath, about 1350 sf and had new flooring, A/C … More like this one will be coming, let me know what you are looking for.
In 1982, Senator Henry Mello and Assemblyman Mike Roos each drafted bills to help local governments fund infrastructure such as schools, parks, sewers, utilities, sidewalks, roads etc. To make a long story short, bonds are created and secured by long-term taxes and when a property is sold, the new homeowner is required to pay the special tax. Although we don’t like to pay any “extra” taxes, Mello Roos does help the community grow and provide the needed infrastructure for us to be comfortable and live in a well-kept city. This is the short version, for those who want to know more, there are many sites out there with more information about the CFDs (Community Facilities District) and other aspects of Mello Roos. If you want to know the amount of Mello Roos on a certain property your real estate professional should be able to get you exact numbers.
Glenmoor Home-No Mello Roos
I frequently have buyers getting excited about the prices on large homes in Lincoln Crossing. Many of them are coming in at under $100 per square foot. Then I bring up the fact that there are high mello roos in that area. Most homes are at a minimum of $250 a month and I have even seen some up in the $400 a month range. Add this with your $115 a month Homeowner’s Association Dues and you can be looking at an extra $400 or so a month added onto your payment. For example, I have some buyers looking at 2 very similar homes, one in LC and one in the Glenmoor subdivision (no mello roos at all). The LC home is priced at $275,000 and the Glenmoor home is at $300,000. Even though the price is $25,000 more, the monthly payment for the Glenmoor home is about $100 less a month. Make sure you have someone working for you who knows about the mello roos and can give you exact numbers so you can make an educated decision. There are good deals in Lincoln Crossing, but take all the factors into consideration.
Click on the Cedar Glen link below to see a video tour of this amazing home in Newcastle.
I think you will enjoy the tour. Let me know what you think.
