Irvine: Northwood Overview
Median home price is $448,000. Based on a rental parity value of $553,000, this market is under valued.
Monthly payment affordability has been improving over the last 8 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis declined from $302/SF to $292/SF.
Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months.
Median rental rates declined $66 last month from $2,400 to $2,333.
Rents have been rising for 8 month(s). Price momentum suggests rising rents over the next three months.
Market rating = 6
Proprietary Irvine Housing News home purchase analysis 
$775,000 …….. Asking Price
$670,000 ………. Purchase Price
12/30/2002 ………. Purchase Date
$105,000 ………. Gross Gain (Loss)
($53,600) ………… Commissions and Costs at 8%
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$51,400 ………. Net Gain (Loss)
============================================
15.7% ………. Gross Percent Change
7.7% ………. Net Percent Change
1.5% ………… Annual Appreciation
Cost of Home Ownership
——————————————————————————
$775,000 …….. Asking Price
$155,000 ………… 20% Down Conventional
3.88% …………. Mortgage Interest Rate
30 ……………… Number of Years
$620,000 …….. Mortgage
$153,161 ………. Income Requirement
$2,917 ………… Monthly Mortgage Payment
$672 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$194 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$174 ………… Homeowners Association Fees
============================================
$3,957 ………. Monthly Cash Outlays
($669) ………. Tax Savings
($913) ………. Equity Hidden in Payment
$205 ………….. Lost Income to Down Payment
$117 ………….. Maintenance and Replacement Reserves
============================================
$2,697 ………. Monthly Cost of Ownership
Cash Acquisition Demands
——————————————————————————
$9,250 ………… Furnishing and Move In at 1% + $1,500
$9,250 ………… Closing Costs at 1% + $1,500
$6,200 ………… Interest Points
$155,000 ………… Down Payment
============================================
$179,700 ………. Total Cash Costs
$41,300 ………. Emergency Cash Reserves
============================================
$221,000 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..
We're sorry, but it seems that we're having some problems loading MLS # U12001564 from our database. Please check back soon.
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$1,079,000 6 URBINO |
0.24 miles 4 bd / 2.5 ba 3,268 Sq. Ft. |
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$1,449,000 6 BAYLEAF |
0.26 miles 5 bd / 3.5 ba 3,200 Sq. Ft. |
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$1,049,000 3 FOXCREST |
0.27 miles 4 bd / 2.5 ba 2,700 Sq. Ft. |
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$998,000 11 CANYONWOOD |
0.32 miles 4 bd / 4 ba 2,589 Sq. Ft. |
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$950,000 78 DOVECREST |
0.34 miles 5 bd / 3.5 ba 2,996 Sq. Ft. |
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$1,015,000 21 BLUE SPRUCE |
0.34 miles 4 bd / 3 ba 2,630 Sq. Ft. |
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$869,900 23 ALEGRIA |
0.36 miles 4 bd / 3 ba 2,951 Sq. Ft. |
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$1,250,000 2 CRESTWOOD |
0.44 miles 5 bd / 4 ba 3,200 Sq. Ft. |
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$898,000 3 TROVITA |
0.45 miles 4 bd / 3 ba 2,794 Sq. Ft. |
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$929,000 6 TROVITA |
0.48 miles 5 bd / 3 ba 3,033 Sq. Ft. |
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Perhaps residential delinquencies are improving, but commercial delinquencies are not.
April CMBS Delinquency Rate Reaches 2nd Highest Reading
Just two months after matching its lowest reading in a year, the Trepp CMBS Delinquency Rate reversed course and is now close to matching the highest reading of all time.
At 9.80 percent, the April 2012 rate for 30-day plus delinquencies is just 8 basis points shy of the July 2011 record when it was 9.88 percent, according to Trepp, a provider of information, analytics and technology to the CMBS, commercial
real estate, and banking markets.
April’s rate jumped 12 basis points from March after already increasing 31 basis points from the month before in February.
After two months of relatively modest loan loss resolutions amounting to $1 billion or less, loan loss resolutions increased to $1.4 billion in April.
The removal of these loans from the delinquent loan category put about 24 basis points of downward pressure on the delinquency rate.
Loans that were newly delinquent totaled about $3.8 billion, putting about 64 basis points of upward pressure on the rate, and while cured loans put about 33 basis points of downward pressure on the rate.
Altogether, the effect was a net increase of seven basis points in the rate.
“The bucket is filling faster than it can be drained,” said Will Sledge, managing director of Mission Capital Advisors in New York. “It’s not beyond what we have expected all along that five year delinquencies from poorly underwritten assets are bearing themselves out.”
Also, the percentage 60 or more days delinquent, including those in foreclosure, REO or nonperforming balloons is 9.41 percent, up 31 basis points.
Overall, the increase in the delinquency rate was driven largely by office loans. The office delinquency rate was up 82 basis points to a new all-time high of 10.23 percent – the first time the office rate has reached double digits.
On the other hand, the multifamily delinquency rate fell 21 basis points, but is still the worst type of property with a rate of 15.18 percent.
Industrial delinquency rate is down 18 basis points, and remains the second worst category.
Retail delinquency rate dropped 26 basis points to 7.98 percent and is the best performing major property type.
The hotel delinquency rate slipped eight basis points and is second best property type.