Posted by Brian Danney on Thursday, March 15, 2018 at 3:48 PMBy Brian Danney / March 15, 2018Comment
Unlike other states countrywide, California has a property tax of only 1% annually of a home's purchase price. However, some Californians can be faced with an additional tax called Mello-Roos. Mello-Roos calls for all newly developed areas that need cooperative homeowner financing to tax the homeowners of the community for building the necessary infrastructure of these districts. The Mello-Roos funds go toward public facilities and service needs.
Local developers build these new communities with the expectation that they will be able to function independently. These public facilities are financed through the Mello-Roos Community Facilities District (CFD) semi-annually. Some examplesinclude New Public Roads, Schools, Police Stations, Fire Stations, Libraries, Paramedic & Ambulance Facilities, Natural Gas Pipeline Facilities, Telephone Lines, Electrical Transmission Lines, and a government facility, which is owned and operated by local governments.
For various reasons, the tax amounts and duration can vary widely from district to district, street to street, and even house to house. Once a Mello-Roos district has bonds and funding, it then has the authority to issue the necessary public services and facilities. While each district is unique unto itself, the average bond...
A lot of people have been asking us about investing in real estate.
The truth is that it can be tough. This is not the market to just go out and buy anything.
However, I’ve recently purchased a home as a long-term rental property, and I’d like to talk through what I purchased, why, and what the long-term outlook is. Follow along in the video above to see a visual representation of what I mean.
I identified an area in town where the prices had skyrocketed over the course of this market cycle. Yet there’s another, separate neighborhood which is a bit older, but it’s still a desirable area that has stayed a little bit flatter. The high-priced neighborhoods are newer, but they also carry Mello Roos. The older neighborhoods don't.
These neighborhoods are west of the 15, a great area with good schools and jobs nearby. Even though they all...
Posted by Brian Danney on Friday, March 2, 2018 at 11:19 AMBy Brian Danney / March 2, 2018Comment
Over the past year, a large majority of the buyers we worked with were typically drawn towards floor plans that had upgrades throughout the home. There are certain improvements that will speak to buyers and make a difference when selling your house. However, it is important to make improvements that you will enjoy while living in the house, yet at the same time make sense financially.
The most sought after upgrade for buyers this past year was a fresh coat of paint on the exterior and/or the interior of the home. Choosing a lighter color paint allows each room and the hallways feel much more open and inviting for buyers. There was a strong preference towards neutral and gray tone paints in the interiors of the homes. A couple of popular gray paint tone examples are Sherwin Williams Agreeable Gray or Benjamin Moore Gray Mist.
Additional home improvements buyers tend to look for are clean, functional and low-maintenance landscaping. An easy-win improvement can be simply applying new mulch, even if you have no plans of changing your existing plants or trees. Adding new mulch can give the entire landscaped area a refreshed feel and is much less invasive than other options. This may be crucial in a resale as the front yard is the first impression a buyer will see before stepping foot in your home.
Another cost-effective home improvement can be adding or changing existing fixtures. Oftentimes, accessorizing...