Quail Hill prices weak but rents rising

Despite being a bubble-era village, Quail Hill has not experienced the distress showing up in Woodbury. Today’s featured property is only price 26% off the peak.

Will Quail Hill retain more value than communities like Woodbury. So far it has, but only time will tell if the substitution effect doesn’t entice buyers away from overpriced properties like these.

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Proprietary Irvine Housing News home purchase analysis

35 STEPPING STONE Irvine, CA 92603

$483,900 …….. Asking Price
$650,000 ………. Purchase Price
8/18/2006 ………. Purchase Date

($166,100) ………. Gross Gain (Loss)
($52,000) ………… Commissions and Costs at 8%
============================================
($218,100) ………. Net Gain (Loss)
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-25.6% ………. Gross Percent Change
-33.6% ………. Net Percent Change
-5.3% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$483,900 …….. Asking Price
$16,937 ………… 3.5% Down FHA Financing
3.81% …………. Mortgage Interest Rate
30 ……………… Number of Years
$466,964 …….. Mortgage
$146,382 ………. Income Requirement

$2,179 ………… Monthly Mortgage Payment
$419 ………… Property Tax at 1.04%
$167 ………… Mello Roos & Special Taxes
$121 ………… Homeowners Insurance at 0.3%
$537 ………… Private Mortgage Insurance
$359 ………… Homeowners Association Fees
============================================
$3,782 ………. Monthly Cash Outlays

($475) ………. Tax Savings
($696) ………. Equity Hidden in Payment
$22 ………….. Lost Income to Down Payment
$80 ………….. Maintenance and Replacement Reserves
============================================
$2,712 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$6,339 ………… Furnishing and Move In at 1% + $1,500
$6,339 ………… Closing Costs at 1% + $1,500
$4,670 ………… Interest Points
$16,937 ………… Down Payment
============================================
$34,284 ………. Total Cash Costs
$41,500 ………. Emergency Cash Reserves
============================================
$75,784 ………. 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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Competing Listings

	$514,900 23 STEPPING STONE		0 miles 3 bd / 2.75 ba 1,582 Sq. Ft.
	$630,000 85 VERMILLION		0.05 miles 3 bd / 3 ba 1,599 Sq. Ft.
	$435,000 28 PERENNIAL		0.11 miles 2 bd / 2.5 ba 1,367 Sq. Ft.
	$585,900 4040 TERRA COTTA Ct		0.12 miles 4 bd / 2.75 ba 1,960 Sq. Ft.
	$779,000 37 CORIANDER		0.12 miles 3 bd / 2.75 ba 2,000 Sq. Ft.
	$426,000 205 DEWDROP		0.16 miles 3 bd / 2.5 ba 1,450 Sq. Ft.
	$749,000 83 CANOPY		0.4 miles 3 bd / 2.5 ba 2,000 Sq. Ft.
	$409,000 91 DUET		0.45 miles 2 bd / 2 ba 1,441 Sq. Ft.
	$679,000 127 TALL OAK		0.48 miles 3 bd / 2.25 ba 1,800 Sq. Ft.
	$679,000 103 TALL OAK		0.48 miles 3 bd / 2.75 ba 1,736 Sq. Ft.

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