Quail Hill prices spike higher

Irvine: Quail Hill Overview

Median home price is $587,000. Based on a rental parity value of $604,000, this market is fairly valued.

Monthly payment affordability has been worsening over the last 4 month(s). Momentum suggests worsening affordability.

Resale prices on a $/SF basis increased to $324/SF to $348/SF.

Resale prices have been falling for 11 month(s). Price momentum suggests falling prices over the next three months.

Median rental rates increased $83 last month from $2,450 to $2,533.

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

Market rating = 5

Proprietary Irvine Housing News home purchase analysis

91 DUET Irvine, CA 92603 

$390,000 …….. Asking Price
$533,000 ………. Purchase Price
4/12/2005 ………. Purchase Date

($143,000) ………. Gross Gain (Loss)
($42,640) ………… Commissions and Costs at 8%
============================================
($185,640) ………. Net Gain (Loss)
============================================
-26.8% ………. Gross Percent Change
-34.8% ………. Net Percent Change
-4.3% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$390,000 …….. Asking Price
$13,650 ………… 3.5% Down FHA Financing
3.75% …………. Mortgage Interest Rate
30 ……………… Number of Years
$376,350 …….. Mortgage
$115,373 ………. Income Requirement

$1,743 ………… Monthly Mortgage Payment
$338 ………… Property Tax at 1.04%
$150 ………… Mello Roos & Special Taxes
$98 ………… Homeowners Insurance at 0.3%
$392 ………… Private Mortgage Insurance
$260 ………… Homeowners Association Fees
============================================
$2,980 ………. Monthly Cash Outlays

($265) ………. Tax Savings
($567) ………. Equity Hidden in Payment
$17 ………….. Lost Income to Down Payment
$69 ………….. Maintenance and Replacement Reserves
============================================
$2,234 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$5,400 ………… Furnishing and Move In at 1% + $1,500
$5,400 ………… Closing Costs at 1% + $1,500
$3,764 ………… Interest Points
$13,650 ………… Down Payment
============================================
$28,214 ………. Total Cash Costs
$34,200 ………. Emergency Cash Reserves
============================================
$62,414 ………. Total Savings Needed
——————————————————————————————————————————————-

This property is available for sale on the MLS.

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	$479,000 354 QUAIL Rdg		0 miles 2 bd / 2 ba 1,441 Sq. Ft.
	$549,000 242 DEWDROP		0.34 miles 3 bd / 2.5 ba 1,450 Sq. Ft.
	$758,800 315 TALL OAK		0.35 miles 3 bd / 2.75 ba 1,736 Sq. Ft.
	$399,000 50 VERMILLION		0.43 miles 2 bd / 2 ba 1,174 Sq. Ft.
	$545,000 72 ALEVERA St		0.97 miles 4 bd / 2.5 ba 1,500 Sq. Ft.
	$347,827 3310 ASPEN GROVE Rd		1.2 miles 2 bd / 2.5 ba 1,200 Sq. Ft.
	$315,000 346 LEMON Grv		1.29 miles 2 bd / 2.5 ba 1,154 Sq. Ft.
	$410,000 1001 ELMHURST		1.33 miles 3 bd / 3 ba 1,360 Sq. Ft.
	$530,000 2 PEARLEAF		1.39 miles 3 bd / 3 ba 1,750 Sq. Ft.
	$545,000 86 DANBURY Ln		1.43 miles 2 bd / 2.5 ba 1,170 Sq. Ft.

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