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Old 09-07-2019, 05:03 PM
 
2 posts, read 12,291 times
Reputation: 13

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Hello everyone,
We are a family of three looking to buy our first home. We are currently renting in Irvine where the rent is so high and we finally ready to buy. I looked at Ontario Ranch and Eastvale. I like that a lot of the properties there and they fit our budget. Any ways, I want to see if anyone live in this area and know the rules about mello roos. What is the percentage of property tax and how many years does mello roos last? My agent told me there are new schools planned for Ontario Ranch but no idea when they are going to be ready. Currently, the school assigned are all 6/10 which is not so good.
Any advise would be good here. If you have purchased a home here and have kids going to daycare and school in the future, please leave a comment for me. Thank you so much!

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Old 09-07-2019, 08:02 PM
 
Location: Birmingham to Los Angeles
508 posts, read 615,866 times
Reputation: 614
Quote:
Originally Posted by hannah00110011 View Post
Hello everyone,
We are a family of three looking to buy our first home. We are currently renting in Irvine where the rent is so high and we finally ready to buy. I looked at Ontario Ranch and Eastvale. I like that a lot of the properties there and they fit our budget. Any ways, I want to see if anyone live in this area and know the rules about mello roos. What is the percentage of property tax and how many years does mello roos last? My agent told me there are new schools planned for Ontario Ranch but no idea when they are going to be ready. Currently, the school assigned are all 6/10 which is not so good.
Any advise would be good here. If you have purchased a home here and have kids going to daycare and school in the future, please leave a comment for me. Thank you so much!

I moved to Ontario Ranch around 18 months ago. There are not many owners, I was told 70% of the properties are rentals.....including mine which I am renting from the owner. I would ask a Real Estate Agent. I was told the Mello Roos only last for the first year of the purchase. I literally live across the street from the proposed school. They’ve actually started to move a lot of dirt this summer.
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Old 09-07-2019, 11:38 PM
 
2 posts, read 12,291 times
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Thank you for the information! My agent says 40 years of Mello Roos. I hope its not true. I would love to have it on paper when purchase the home.
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Old 09-08-2019, 12:18 AM
 
1,355 posts, read 1,943,961 times
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Quote:
Originally Posted by Justin Scott View Post
I moved to Ontario Ranch around 18 months ago. There are not many owners, I was told 70% of the properties are rentals.....including mine which I am renting from the owner. I would ask a Real Estate Agent. I was told the Mello Roos only last for the first year of the purchase. I literally live across the street from the proposed school. They’ve actually started to move a lot of dirt this summer.
Wait... so are most of the new homes on Ontario Ranch Drive purchased by real estate agents, and 70% being rented out? So, is the homeownership rate much worse in Ontario Ranch than in Las Vegas?
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Old 09-08-2019, 09:39 AM
 
Location: Birmingham to Los Angeles
508 posts, read 615,866 times
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Originally Posted by waltchan View Post
Wait... so are most of the new homes on Ontario Ranch Drive purchased by real estate agents, and 70% being rented out? So, is the homeownership rate much worse in Ontario Ranch than in Las Vegas?
My HOA told me that around 70% of us are renting at the moment. I’m only going by their numbers and applying it to the other neighborhoods within Ontario Ranch because all are similar prices and developments. Most of the properties have been scooped up by international investors and rented out to us.
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Old 09-08-2019, 11:04 AM
 
1,355 posts, read 1,943,961 times
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Originally Posted by Justin Scott View Post
Most of the properties have been scooped up by international investors and rented out to us.
Must be from China or Hong Kong, right? Then, America will see millions of ex-Hong Kongers fleeing from political violence rioted by China, mostly immigrating to southern California.
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Old 09-08-2019, 06:51 PM
 
18,172 posts, read 16,389,030 times
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Quote:
Originally Posted by Justin Scott View Post
I moved to Ontario Ranch around 18 months ago. There are not many owners, I was told 70% of the properties are rentals.....including mine which I am renting from the owner. I would ask a Real Estate Agent. I was told the Mello Roos only last for the first year of the purchase. I literally live across the street from the proposed school. They’ve actually started to move a lot of dirt this summer.
Check with the County as they are a cost for certain things to be built or repaired, etc. If for a school it will be for a long time. I believe the shortest time I ever saw was 20 years. It can be shorter for an older home where the Mello Roos have been paid for years.
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Old 09-09-2019, 12:21 AM
 
1,355 posts, read 1,943,961 times
Reputation: 904
Does Menifee, CA have a higher homeownership rate than Ontario Ranch, CA? It's the second largest and busiest new home community in Inland Empire. I refuse to move into any community if there are really no actual homeownership in first place. Renters always come and gone all the time, you forget your neighbors all the time, with no sense of community pride, and more dangerous for kids to grow up in.

Or, is Temecula, CA really the #1 winner? Or, is it pretty much they stay away from California for other states?
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Old 09-09-2019, 08:16 AM
 
18,172 posts, read 16,389,030 times
Reputation: 9328
Quote:
Originally Posted by waltchan View Post
Does Menifee, CA have a higher homeownership rate than Ontario Ranch, CA? It's the second largest and busiest new home community in Inland Empire. I refuse to move into any community if there are really no actual homeownership in first place. Renters always come and gone all the time, you forget your neighbors all the time, with no sense of community pride, and more dangerous for kids to grow up in.

Or, is Temecula, CA really the #1 winner? Or, is it pretty much they stay away from California for other states?
Not sure how to find out, but when I lived in Murrieta, which I preferred to Temecula, though Temecula is nice, the vast majority were home owners.
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Old 10-26-2019, 08:46 PM
 
Location: Inland Empire
104 posts, read 213,802 times
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Hi there. I live in Ontario Ranch as well. The taxes are 1.9%-2% essentially. It is not only for the first year, the mello-roos will go on for decades for all of the infrastructure, your agent is correct. As far as rentals, many investors from China and some from India are investing a lot in Southern California; including the IE. My friend just purchased a home in Park Place and she told me that there are a lot of renters there because of a high number of investors. Another community is named New Haven by Brookfield, which is where I live (you can use me as your referral and get a credit on your upgrades too =]). Brookfield requires the buyer to sign a contract that they will not sell their home or rent their home for a minimum of one-year after close of escrow. That means that there are more home owners than renters, and majority of the buyers are planning to live in their homes. Now for schools, one school is approved and will start being built soon; for the other school the land has been purchased but will not be built for a while. The approved school will be an elementary school in Park Place. If you have questions feel free to DM me.
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