Serrano, El Dorado Hills Real Estate = Ripoff
#31
Posted 22 June 2007 - 05:40 PM
#32
Posted 22 June 2007 - 06:04 PM
Do Canadian Mafia hit men use hockey pucks?
#33
Posted 22 June 2007 - 07:11 PM
I would not say that....
he just hates when people who know ahead of time that they are getting into, and still choose to go along with it, then later whine about poor them having to spend $$ for something they signed up for.
I don't blame him for not caring! I feel the same way, if you don't want to pay for all of those things, then why did you move there?
Were the costs and fees not disclosed?
Were you told you might get "more for your money" later?? (ie may add memberships to clubs at a later date)
Were you expecting them to CHANGE what you are paying for into EXTRAs that other places offer???
#34
Posted 22 June 2007 - 07:13 PM
#35
Posted 22 June 2007 - 09:10 PM
I have a home in Serrano and a rental in Folsom. I miss Folsom. The HOA is killing me. My property value has dropped more than 100k in one year due to Foreclosures, short sales, and 7 listings on the same street.
people are trying to sell like crazy.
I also agree that the majority of listings on the MLS in EDH is in SErrano.
What does that tell you??? People are trying to get out. Cut their losses.
I also have my OWN list to add:
1) you cant have a garage or moving sale. (I plan to have a moving sale when I get out and the HOA in EDH can kiss my a##.)
2) you need to give the HOA something like $500 deposit for building a pool or making any modification. You have to submi your plans before the "board" and they take forever to approve.
3) If you buy a brand new home, you have one year to complete your backyard or face a fine of $500 per month.
4) My PGE bills tripled from Folsom where I had SMUD.
5) The safeway in EDH is much more expensive than the safeway in Folsom. One example = bananas... $58cents in EDH per lb.....33cents in Folsom.....there are other examples such as dry cleaners, and other things....
I made a HUGE mistake by buying in Serrano. I would never ever wish this upon any sane person. I was naiive and I bought the "schools are better" and "safer" gated community argument.
I was a naiive idiot when it came to purchasing in Serrano. Next time... NO HOA ... NO SErrano.
#36
Posted 23 June 2007 - 09:57 AM
that HOA thing and the mollos roots would pass some folks buy when they were just looking at the sticker price on a house. by and large its the uppety gene that makes you make the mistake cause I see folks get puffed up a little when you ask them where they live and thay say serrano.
I like my old smud bill too and was smart enough not to be in a place where they have ccr police running around.
I like this thread cause it makes me feel downright good about living where I do
#37
Posted 23 June 2007 - 03:05 PM
A few years ago, Serrano was all the rage. It seemed like the Serrano moms in our playgroup looked down on us lowly Folsom moms, as they talked for hours about what kind of flooring, countertops and window dressings they were getting for their brand new houses.
I always felt Folsom was right for our family, with our low-key cul de sac, proximity to Intel, no HOA, etc.
Now it seems like some people are realizing that they bought in Serrano for the wrong reasons. Having the most fashionable of everything doesn't mean much if you don't enjoy your neighborhood or could never afford it in the first place.
I'm sure Serrano is right for some people. But the lesson here is to make your home-buying decisions based on what gives you the most enjoyable quality of life -- not based on what everyone says is the "hottest" or most fashionable neighborhood.
#38
Posted 23 June 2007 - 03:43 PM
A few years ago, Serrano was all the rage. It seemed like the Serrano moms in our playgroup looked down on us lowly Folsom moms, as they talked for hours about what kind of flooring, countertops and window dressings they were getting for their brand new houses.
I always felt Folsom was right for our family, with our low-key cul de sac, proximity to Intel, no HOA, etc.
Now it seems like some people are realizing that they bought in Serrano for the wrong reasons. Having the most fashionable of everything doesn't mean much if you don't enjoy your neighborhood or could never afford it in the first place.
I'm sure Serrano is right for some people. But the lesson here is to make your home-buying decisions based on what gives you the most enjoyable quality of life -- not based on what everyone says is the "hottest" or most fashionable neighborhood.
When we were looking at buying a bigger house six years ago, our realtor kept showing us houses in EDH, and mainly Serrano. He insisted this was the best location to buy, at the right time, and we would never regret it. He was reluctant to show us homes here in Folsom because he was so sure Serrano would be perfect for us. Once he said that Serrano was going to be the Beverly Hills of Sacramento, we knew we were looking in the wrong area. We ended up staying here in Folsom. (Though Folsom also has its share of people "keeping up with the Joneses").
#39
Posted 23 June 2007 - 09:12 PM
REGARDLESS of what homes are selling for today, real estate will come back stronger. Here are some memorable quotes to remind people of the reality of real estate:
"The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline." - Time Magazine, 1947
"Houses cost too much for the mass market. Today's average price is around $8,000 - out of the reach for two-thirds of all buyers." - Science Digest, 1948
"The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house today costs about $28,000." - Business Week, 1969
"You might well be suspicious of 'common wisdom' that tells you, 'Don't wait, buy now...continuing inflation will force home prices and rents higher and higher." -NEA Journal, 1970
"The median price of a home today is approaching $50,000... Housing experts predict price rises in the future won't be that great."- Nations Business, 1977
"The era of easy profits in real estate may be
drawing to a close." - Money Magazine, 1981
"The golden-age of risk-free run-ups in
home prices is gone." - Money Magazine, 1985
"Most economists agree...[a home] will become little more than a roof and a tax deduction, certainly not the lucrative investment it was through much of the 1980's." - Money Magazine, 1986
"Financial planners agree that houses will
continue to be a poor investment." -
Kiplinger's Personal Financial Magazine, 1993
"A home is where the bad investment is." -
San Francisco Examiner, 1996
#40
Posted 23 June 2007 - 09:35 PM
#41
Posted 24 June 2007 - 01:45 AM
Let me clarify some things here. The ONLY reason why I decided to vent in this forum was because I did NOT want someone else to make the same mistakes I made.
Was the CC&R disclosed to me upfront?? NOt really. After I put the NON refundable deposit and before I signed the final docs, I was given the big CC&R packet. I should have paid close attention to it, so my BAD.
This is a SELF INFLICTED wound for NOT doing research. But try to ask for the CCR packet BEFORE you buy from SErrano is like pulling teeth. Unless you know someone or if you go through an honest Realtor, getting those little details are rather difficult.
I am just amazed at some of the low life comments like "rich POS" against me...lol.
Oh well, I thought I was helping folks not repeat my mistake, but if no one wants to hear, then I am out.
L8
#42
Posted 24 June 2007 - 06:22 AM
Was the CC&R disclosed to me upfront?? NOt really. After I put the NON refundable deposit and before I signed the final docs, I was given the big CC&R packet. I should have paid close attention to it, so my BAD.
This is a SELF INFLICTED wound for NOT doing research. But try to ask for the CCR packet BEFORE you buy from SErrano is like pulling teeth. Unless you know someone or if you go through an honest Realtor, getting those little details are rather difficult.
I am just amazed at some of the low life comments like "rich POS" against me...lol.
Oh well, I thought I was helping folks not repeat my mistake, but if no one wants to hear, then I am out.
L8
Hey I'm sorry if some of the folks down here in Folsom took a shot at you... I knew the reason you wrote your piece and I'm glad you did....
I've been selling real estate for a long time now... and while Serrano started off like a neat place it seems to have lost it's luster... we run a rental there and some irate neighbor turned our owner into the "federalis" aka HOA because the back yard was not being maintained...so when that neighbor looked out over his view and then looked down on our rental, he was just disgusted and then he took action....called the HOA..
HOA and CCR's that are enforced rigorously are only for a few people.. you don't see those darned basketball hoops in driveways in Serrano... god forbid that someone park a car outside... and over by my rental on Chadwick in Lexington Hills, I can see 3 boats parked on the property when the CCR's provide that this is "verboten"..
The ugly part about CCR's that don't have an association backing them is that if you want them enforced, you have to sue your neighbor... now isn't that a pleasant thing... so I guess one advantage of an HOA is that they will do it for you...
Utility bills are another big factor... we've got another rental we run up there that was vacant for a while and a toilet was running.. heck I don't know for how long, but how would you like to get a $1,000 water bill... OUCH...!!!!!
Since water is so expensive up there, they do have less grass in their yards than we do...so I guess if you don't like mowing lots of yard... that's your neighborhood...
#43
Posted 25 June 2007 - 07:34 AM
Was the CC&R disclosed to me upfront?? NOt really. After I put the NON refundable deposit and before I signed the final docs, I was given the big CC&R packet. I should have paid close attention to it, so my BAD.
This is a SELF INFLICTED wound for NOT doing research. But try to ask for the CCR packet BEFORE you buy from SErrano is like pulling teeth. Unless you know someone or if you go through an honest Realtor, getting those little details are rather difficult.
I am just amazed at some of the low life comments like "rich POS" against me...lol.
Oh well, I thought I was helping folks not repeat my mistake, but if no one wants to hear, then I am out.
L8
I understand you wanting to let other people know your opinion. As a Realtor in Folsom/EDH I have always thought Serrano shine would dull. When showing clients who have requested seeing homes in there I always explain to them how it is. I could never live in a place with so many rules, etc. That being said I occasionaly have clients who (mostly from bay area) have had enough of the suburbs where people park on lawns, have junk everywhere and don't take care of their lawns. After long discussions about the pros & cons, it is up to them.
A couple of suggestions for those who might be looking at homes anywhere. Always work with an agent that is familiar with the area and different subdivisions. There are a lot of agents out there who know the nuances of different areas and can advise you on the pros & cons of each area, whether rules, utility costs, roads coming in, plane flights overhead, etc.
Also, once you have narrowed down your search to a house or neighborhood, walk a couple of the streets in an evening or Saturday am and talk to the neighbors. Ask the questions that would be important to you. Ask what they like and don't like about their neighborhood. Reading the CC&R's is the first step, but to really find out, you need to talk to those that live there.
M.E.G.
Mechelle Reasoner (formerly Gooch)
Movin'...So You Can!
Morris Williams Realty
Call or txt: 916 955-8698,
Read my blog, search for homes, find out more about Folsom at FolsomCorner.com
#44
Posted 25 June 2007 - 09:04 AM
#45
Posted 26 June 2007 - 10:48 AM
With respect to the OP's issues with falling home values, etc, I think it's important to point out that this is happening everywhere, not just Serrano. Our house in Folsom sold for about $100K less than it was worth a year earlier as well. Fortunately for us, we bought that home 4 years ago so we still realized some solid appreciation. The person from whom we purchased our Serrano home profited nicely as well, even though the house was worth about $100K less than it had been a year earlier. Home prices have fallen...that's all there is to it.
As I said before, I really think the key with any home purchase is to make sure you know as much about the neighborhood as possible and that it aligns with what you're looking for. For us, there wasn't a better "value" to be had in the general area than what we ended up with here in Serrano. I don't care whether it becomes or does not become the "next Beverly Hills". That's irrelevant to me. I wanted a nice, somewhat larger home in a quiet and well maintained area with significant open space nearby. After looking all through Folsom, I didn't see anything that approached what we found up here from that perspective. The Parkway came close, but the yards of the homes we saw were just a bit too small for our taste and the homes bordering open space were all bigger than we wanted/needed/could afford. I grew up in Folsom and really like the town, but the home we wanted wasn't available there. Now that we're in EDH, I couldn't be happier.
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