We are fortunate working in and around Santa Clarita Valley in the fact that there are new homes being built. But they are not without their share of penalties. Penalties is quite a strong word, let me explain. There are assessments with the new housing that is being built. These assessments pay for the roads, schools, landscaping, and other various items that the builders did not incorporate into the prices. If you have children it is money well spent. But most of the assessments approach $3800.00 a year with a built in increase of 2% per year until sometime in the year 2056.
Now, if you ask me it is something that is shocking to the conscious. I remember when Stevenson Ranch was starting to build back in the early to mid 1990's. There were mello-roos on those properties. Back then it was something that was not par for the course up to that point. Now it is an accepted fact, the price of doing business with homeownership in Stevenson Ranch.
I would for-see that sometime in the near future that the assessments for these new homes will also be something that we all have gotten used to. I acknowledge that services have to get paid; Law Enforcement, Fire departments, Emergency services, Teachers, Street maintenance, Landscape and beautification, etc. All of which we are very thankful for. But, what is it worth to a home buyer? I know that in this market most of the new home developments cooperate with agents bringing buyers to register for these homes. It was not too long ago when they did not due to the market being absolutely hot. A market where we had multiple offers within hours after a property was listed.
I thank God each and every day that I live in the United States of America. We have it real good here. When I compare economy's of other countries and their home sales, lot size, construction, etc. We are living like kings. I suppose it up to the agent explaining all of the positives and negatives when it comes to new housing. Re-sale will be booming soon as the market increases in its stability. I am looking forward to the next five minutes for what will happen, because life changes that fast. Buckle up and hold on. It is going to be a great ride.
There is only a limited amount of landthat exists. When it is all build upon, I suppose it will no longer be a problem. We will be writing blogs about a different issue...