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Old 02-26-2014, 09:19 AM
 
60 posts, read 119,224 times
Reputation: 45

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So I see there have been a couple of threads on Eastmark...just wondering how folks are liking it there?

We think the developer (DMB) is quite reputable but of course the area is new and although there are big plans, GCU/Apple coming to the area, possible resort, etc....it has yet to prove itself so we're a little concerned.

Anyone currently living there - were you aware of the 1% exit fee upon resale of your home? I think in the bylaws they call it a "recreational use fee" or something like that. It's not just a one time fee either - every time a house is resold there (original owner or not), up to 1% of sale price is to be paid to the HOA (I believe that goes to the developer).
The sales reps we spoke with (at a few builders, mind you, not just one builder) were not aware of the fee. My realtor had to move mountains to get the info - the developer themselves finally were the ones that clarified the fee.
That isn't sitting so well with us right now so not sure how to address that - we do like the home but are considering removing Eastmark off our list.

Any thoughts from people at Eastmark...or maybe people that are familiar with these types of "exit fees?"
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Old 02-26-2014, 09:52 AM
 
72 posts, read 232,218 times
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We have been looking into Eastmark as well. I am more concerned about getting more development around it in terms of retail, etc. Right now, there is not much. Which builder/plan are you considering? Our favorite is the Meritage Annapolis plan.
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Old 02-26-2014, 10:12 AM
 
60 posts, read 119,224 times
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Quote:
Originally Posted by KatieBlue View Post
We have been looking into Eastmark as well. I am more concerned about getting more development around it in terms of retail, etc. Right now, there is not much. Which builder/plan are you considering? Our favorite is the Meritage Annapolis plan.
Hi there!
We're in the same boat - LOOOVE that plan.

We're currently in Morrison Ranch (purchased there 5 years ago, new build with TM) and love it here but our house isn't quite what we'd like. We've added 2 kids and it doesn't look like we're leaving Arizona anytime in the near future (we moved here thinking we'd only be here 2-3 yrs max) so we figured we'd look into moving now.
To buy the kind of house we're looking for here in Morrison Ranch (even resale), it would cost waaaaay more than at Eastmark - despite it only being 10 minutes east of us on Elliot.

I do believe retail and commercial will come....I'm more concerned in desirability of the area once things are more built out, considering the fees being charged. I don't know, maybe it's just me - I feel like they're "stikin' it to me," know what I mean? Lol
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Old 02-26-2014, 12:24 PM
 
72 posts, read 232,218 times
Reputation: 34
I understand. One thing to maybe check on - does DMB do this in their other communities? And, then you can see how resale is in those communities in terms of time on the market and sales price.

Last edited by KatieBlue; 02-26-2014 at 01:43 PM..
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Old 02-26-2014, 01:49 PM
 
60 posts, read 119,224 times
Reputation: 45
Quote:
Originally Posted by KatieBlue View Post
I understand. One thing to maybe check on - does DMB do this in their other communities? And, then you can see how resale is in those communities in terms of time on the market and sales price.
I don't believe they've done this in those communities but I'm not 100% certain...it seems these types of fees have started to increase in use by developers when lots of infrastructure is required in building new communities. There are about 20-something states that ban that fee....the rest of the states allow it but have safeguards in place that limit the amount that can be charged or for how many years the fee is applicable, yada yada yada...

I supposed if you're staying long term it's not a big deal. If you think you're buying to then flip well then some of your profit will go to the developer. But it's roughly 1/2 of 1% so even if you sold for $500k then you're looking at a $2500 fee....maybe at some point they're vote to terminate the fee. Who knows...
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Old 05-10-2017, 11:26 AM
 
1 posts, read 1,461 times
Reputation: 10
Beware of Meritage! They don't stand behind their homes. Check J.D. Powers ratings and you can confirm it.
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Old 05-10-2017, 12:14 PM
 
Location: Centennial, CO
2,276 posts, read 3,078,730 times
Reputation: 3781
Quote:
Originally Posted by tmaxxx View Post
Beware of Meritage! They don't stand behind their homes. Check J.D. Powers ratings and you can confirm it.
Link? The most recent ratings I found online were from 2014 and Meritage wasn't even on there. I'd also disagree. Their quality is at least among the upper half of the big national homebuilders out there and they are the only ones that use spray foam insulation which is a huge energy bill saver. I do believe they all have similar warranties, as well. Most will give you a ten year on structural, and 2-3 for mechanical systems, plumbing, electrical, etc.
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