Today’s featured property was bought by Ponzis in 2002 for $250,000. They ran up a huge debt via mortage equity withdrawal and let the house go to foreclosure in July of 2009 for $382,500. The lender sold the REO to the current seller on 9/11/2009 for $450,000. Apparently the current owner spent a lot of money upgrading everything, a curious decision for a small, old house backing the railroad tracks. If he gets his current asking price, he stands to make $30,000, but he likely spent that and more on upgrades, so this is likely a loss — assuming he gets this asking price.
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Proprietary Irvine Housing News home purchase analysis 
4632 ROXBURY Dr Irvine, CA 92604
$519,000 …….. Asking Price
$450,000 ………. Purchase Price
9/11/2009 ………. Purchase Date
$69,000 ………. Gross Gain (Loss)
($36,000) ………… Commissions and Costs at 8%
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$33,000 ………. Net Gain (Loss)
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15.3% ………. Gross Percent Change
7.3% ………. Net Percent Change
5.9% ………… Annual Appreciation
Cost of Home Ownership
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$519,000 …….. Asking Price
$103,800 ………… 20% Down Conventional
3.87% …………. Mortgage Interest Rate
30 ……………… Number of Years
$415,200 …….. Mortgage
$97,966 ………. Income Requirement
$1,951 ………… Monthly Mortgage Payment
$450 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$130 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$0 ………… Homeowners Association Fees
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$2,531 ………. Monthly Cash Outlays
($313) ………. Tax Savings
($612) ………. Equity Hidden in Payment
$137 ………….. Lost Income to Down Payment
$150 ………….. Maintenance and Replacement Reserves
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$1,892 ………. Monthly Cost of Ownership
Cash Acquisition Demands
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$6,690 ………… Furnishing and Move In at 1% + $1,500
$6,690 ………… Closing Costs at 1% + $1,500
$4,152 ………… Interest Points
$103,800 ………… Down Payment
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$121,332 ………. Total Cash Costs
$29,000 ………. Emergency Cash Reserves
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$150,332 ………. Total Savings Needed
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This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..
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