El Camino Real prices off 9.3%, rents up 5.4%

Rising rents, falling interest rates, and declining prices are making El Camino Real one of the most affordable villages in Irvine. All three factors are moving in favor of greater affordability.

Today’s featured property is an REO that chased the market down all last year, so the bank decided to remodel to see if they could sell it in better condition. The bank’s loss will be that much larger, but perhaps they can find a taker now.

– —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- — ————————————————————————————————————————————-
Proprietary Irvine Housing News home purchase analysis

22 BUTTERFIELD Irvine, CA 92604

$428,888 …….. Asking Price
$540,000 ………. Purchase Price
8/3/2005 ………. Purchase Date

($111,112) ………. Gross Gain (Loss)
($43,200) ………… Commissions and Costs at 8%
============================================
($154,312) ………. Net Gain (Loss)
============================================
-20.6% ………. Gross Percent Change
-28.6% ………. Net Percent Change
-3.4% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$428,888 …….. Asking Price
$15,011 ………… 3.5% Down FHA Financing
3.87% …………. Mortgage Interest Rate
30 ……………… Number of Years
$413,877 …….. Mortgage
$123,945 ………. Income Requirement

$1,945 ………… Monthly Mortgage Payment
$372 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$107 ………… Homeowners Insurance at 0.3%
$476 ………… Private Mortgage Insurance
$302 ………… Homeowners Association Fees
============================================
$3,202 ………. Monthly Cash Outlays

($299) ………. Tax Savings
($610) ………. Equity Hidden in Payment
$20 ………….. Lost Income to Down Payment
$74 ………….. Maintenance and Replacement Reserves
============================================
$2,386 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$5,789 ………… Furnishing and Move In at 1% + $1,500
$5,789 ………… Closing Costs at 1% + $1,500
$4,139 ………… Interest Points
$15,011 ………… Down Payment
============================================
$30,728 ………. Total Cash Costs
$36,500 ………. Emergency Cash Reserves
============================================
$67,228 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..

Name	*
Email	*
Phone	*

We're sorry, but it seems that we're having some problems loading MLS # S687557 from our database. Please check back soon.

Competing Listings

	$429,000 4 BUTTERFIELD #2		0 miles 3 bd / 2 ba 1,250 Sq. Ft.
	$479,900 12 COLUMBINE		0.07 miles 3 bd / 2.5 ba 1,645 Sq. Ft.
	$490,000 6 MEDICI AISLE		0.47 miles 3 bd / 2.5 ba 1,500 Sq. Ft.
	$439,900 340 FLYERS Ln		0.75 miles 3 bd / 2.5 ba 1,488 Sq. Ft.
	$499,900 314 FLYERS Ln		0.76 miles 3 bd / 2.5 ba 1,488 Sq. Ft.
	$360,000 194 BLUE SKY Dr		0.77 miles 3 bd / 2.5 ba 1,390 Sq. Ft.
	$399,000 125 LIBERTY St		0.83 miles 3 bd / 3 ba 1,938 Sq. Ft.
	$334,000 123 LIBERTY St		0.83 miles 3 bd / 3 ba 1,379 Sq. Ft.
	$409,900 229 JET Strm		0.84 miles 3 bd / 2.25 ba 1,810 Sq. Ft.
	$379,000 12 FIREBIRD #76		0.86 miles 3 bd / 2 ba 1,262 Sq. Ft.

---

Wouldn't you be embarrassed to overpay by $100,000? Only fools buy houses without knowing neighborhood values. Don't be a fool. Don't suffer the pain of an underwater mortgage. The surest way to lose your house is to overpay for it. Our reports identify overvalued and undervalued neighborhoods. Use it to broaden or narrow your search area. Savvy buyers work with us to find bargains. We've saved thousands from financial ruin. Let us save you too. If you want peace of mind while shopping for your next home, sign up for our monthly market newsletter.

Name	*
Email	*
Phone	*

---

---

---

---

Sign up for Las Vegas investment property seminar fourth Wednesday each month. Or RSVP to sales@ochousingnews.com.

---