Quail Hill spring rally underway

Irvine: Quail Hill Overview

Median home price is $571,000. Based on a rental parity value of $605,000, this market is under valued.

Monthly payment affordability has been worsening over the last 2 month(s). Momentum suggests worsening affordability.

Resale prices on a $/SF basis increased from $334/SF to $345/SF.

Resale prices have been falling for 10 month(s). Price momentum suggests falling prices over the next three months.

Median rental rates increased $8 last month from $2,532 to $2,540.

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

Market rating = 6

Proprietary Irvine Housing News home purchase analysis

120 TREEHOUSE Irvine, CA 92603

$1,249,000 …….. Asking Price
$760,500 ………. Purchase Price
3/15/2004 ………. Purchase Date

$488,500 ………. Gross Gain (Loss)
($60,840) ………… Commissions and Costs at 8%
============================================
$427,660 ………. Net Gain (Loss)
============================================
64.2% ………. Gross Percent Change
56.2% ………. Net Percent Change
5.9% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$1,249,000 …….. Asking Price
$249,800 ………… 20% Down Conventional
3.62% …………. Mortgage Interest Rate
30 ……………… Number of Years
$999,200 …….. Mortgage
$248,830 ………. Income Requirement

$4,554 ………… Monthly Mortgage Payment
$1,082 ………… Property Tax at 1.04%
$233 ………… Mello Roos & Special Taxes
$312 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$246 ………… Homeowners Association Fees
============================================
$6,428 ………. Monthly Cash Outlays

($1,147) ………. Tax Savings
($1,540) ………. Equity Hidden in Payment
$294 ………….. Lost Income to Down Payment
$176 ………….. Maintenance and Replacement Reserves
============================================
$4,212 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$13,990 ………… Furnishing and Move In at 1% + $1,500
$13,990 ………… Closing Costs at 1% + $1,500
$9,992 ………… Interest Points
$249,800 ………… Down Payment
============================================
$287,772 ………. Total Cash Costs
$64,500 ………. Emergency Cash Reserves
============================================
$352,272 ………. Total Savings Needed
——————————————————————————————————————————————-

This property is available for sale on the MLS.

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	$1,088,000 111 LATTICE		0.08 miles 4 bd / 3 ba 2,310 Sq. Ft.
	$730,000 94 MILLBROOK		1.09 miles 3 bd / 2.5 ba 2,079 Sq. Ft.
	$739,900 63 WELLINGTON		1.15 miles 4 bd / 2.5 ba 2,100 Sq. Ft.
	$750,000 19 GLENOAKS		1.4 miles 4 bd / 2.5 ba 2,300 Sq. Ft.
	$849,900 5 BIRCHWOOD		1.48 miles 4 bd / 2.5 ba 2,907 Sq. Ft.
	$877,500 15 FOXCHASE		1.55 miles 4 bd / 2.5 ba 2,433 Sq. Ft.
	$1,099,000 31 MORNING GLORY		1.78 miles 3 bd / 2.75 ba 2,700 Sq. Ft.

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