House in Estates of Loma Vista (Austin, Round Rock: foreclosure, HOA fees, new house)

[shane79]

Anyone live in there?
Just around the corner of 1826 and 290
Was looking at a resale home there today, it was built by Monterey (i think high end meritage) home, the same floor plan is being built at barton creek for 740k, but this one we looked is lower price, with a big lot (0.81 acre).


Anyone has any opinion on this builder? (monterey, or meritage if higher price doesnt grand higher quality), it was 2002 built, too bad we cant check home history like we check for a car with VIN. (or can we?)

The school is much nicer than the house I previously look, I think mills/small/bowie
Thanks

[IC_deLight]

Nice location, but watch out for the management company. The standard operating procedure for that management company is to march into an HOA and convince a board of directors to 1) adopt a fining policy, and 2) adopt a "priority of payment" resolution to ensure that your assessments are applied to fines, management company fees, etc., etc., etc., and assessments last. The management company then roves the neighborhood proclaiming people to be in violation of the CCRs. The priority of payment document enables the management company to extract fines, management company fees, collection fees, etc. from you under threat of foreclosure on your home.

By the way, when this re-characterization takes place it often triggers additional fees for the management company because you will be deemed to be late on your assessments since the money you paid wasn't applied to your assessments.

Look at page 3 of the February 2006 newsletter for Estates of Loma Vista.

[shane79]

Thanks for the information, where to search for that article?
Also I heard HEB owns the land to the north of the subdivision, what is the chance for them to build a HEB there?

[say]

Shane79,

Houses in Estate of Loma Vista were originally built by Hammons. They can not be compared with ones built in Barton Creek by Monterey ( even they have the same floor plans and now become the same company Meritage.) Monterey is really the high end product of Meritage. To my opinion, I even like Monterey than Toll Brothers. You need to check houses built by Monterey in Barton Creek in person and you can tell the differences right away. Don't be fooled by just looking at floorplan only on the paper.
About the quality and features, I can say houses in Loma Vista are just like ones built by Meritages in Lantana or Meridian. However, Estate of Loma Vista is kind relatively new HOA ( 2002) with big lots ( ~ 1 acres ) and still stays closed to down town austin. It is convenient location with good austin public schools ( Mills, Clint Small, and Bowie ).
If big lots, and public schools are your top priorities then Estate of Loma Vista is the good ones ( big lots only few ones have good trees, most of them are surrounded by Cedar )

If you care about quality of houses, better product, good enviroment, private schools, beautiful views then look at houses in Barton Creek by Monterey ( negative side of this community is small lot, and very high HOA fees.) Houses built by Monterey in Barton Creek are expensive due to high premium and high standard features. If you look at similar floor plans by Meritage built in Behrens Ranch in Round Rock you will see cheaper prices.

[shane79]

Very good information! I sent you a direct message.

Anyone knows of any high quality buider that buids in any sw/w community that is relatively close to I35/290 intersection (where I work at)? Meridian is a little too far in my taste (>25 mins during rush hour)

[say]

You can check Drees Custom House in Cover Bridges.

And also it depends on your criteria and budgets.
For big lots ( > 1acres) and brand new houses in SW, I saw Steve mention earlier about Granada Oaks ( next exit on 290W, west of 1826 ) with many local custom builders. It seems Austin-Steve has very good knowleges in SW and that particular area.

[IC_deLight]

For educational purposes regarding the priority of payment scam: