Orangetree condos among best bargains in Irvine

Irvine: Orangetree Overview

Median home price is $168,000. Based on a rental parity value of $331,000, this market is under valued.

Monthly payment affordability has been improving over the last 1 month(s). Momentum suggests unchanging affordability.

Resale prices on a $/SF basis declined from $245/SF to $240/SF.

Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months.

Median rental rates increased $50 last month from $1,341 to $1,391.

Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months.

Market rating = 10

Proprietary Irvine Housing News home purchase analysis

4102 APRICOT Dr #4102 Irvine, CA 92618

$175,000 …….. Asking Price
$340,000 ………. Purchase Price
2/22/2006 ………. Purchase Date

($165,000) ………. Gross Gain (Loss)
($27,200) ………… Commissions and Costs at 8%
============================================
($192,200) ………. Net Gain (Loss)
============================================
-48.5% ………. Gross Percent Change
-56.5% ………. Net Percent Change
-10.5% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$175,000 …….. Asking Price
$6,125 ………… 3.5% Down FHA Financing
3.75% …………. Mortgage Interest Rate
30 ……………… Number of Years
$168,875 …….. Mortgage
$59,048 ………. Income Requirement

$782 ………… Monthly Mortgage Payment
$152 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$44 ………… Homeowners Insurance at 0.3%
$176 ………… Private Mortgage Insurance
$372 ………… Homeowners Association Fees
============================================
$1,525 ………. Monthly Cash Outlays

($68) ………. Tax Savings
($254) ………. Equity Hidden in Payment
$8 ………….. Lost Income to Down Payment
$42 ………….. Maintenance and Replacement Reserves
============================================
$1,253 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$3,250 ………… Furnishing and Move In at 1% + $1,500
$3,250 ………… Closing Costs at 1% + $1,500
$1,689 ………… Interest Points
$6,125 ………… Down Payment
============================================
$14,314 ………. Total Cash Costs
$19,200 ………. Emergency Cash Reserves
============================================
$33,514 ………. Total Savings Needed
——————————————————————————————————————————————-

This property is available for sale on the MLS.

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