Turtle Rock median spikes as expensive homes sell

Irvine: Turtle Rock Overview

Median home price is $1,839,000. Based on a rental parity value of $600,585, this market is over valued.

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

Resale prices on a $/SF basis increased to $401/SF to $439/SF.

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

Median rental rates declined $166 last month from $2,700 to $2,533.

Rents have been rising for 3 month(s). Price momentum suggests unchanging rents over the next three months.

Market rating = 2

Proprietary Irvine Housing News home purchase analysis

37 RAINBOW Rdg Irvine, CA 92603 

$485,000 …….. Asking Price
$202,500 ………. Purchase Price
10/8/1997 ………. Purchase Date

$282,500 ………. Gross Gain (Loss)
($16,200) ………… Commissions and Costs at 8%
============================================
$266,300 ………. Net Gain (Loss)
============================================
139.5% ………. Gross Percent Change
131.5% ………. Net Percent Change
6.1% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$485,000 …….. Asking Price
$16,975 ………… 3.5% Down FHA Financing
3.88% …………. Mortgage Interest Rate
30 ……………… Number of Years
$468,025 …….. Mortgage
$140,527 ………. Income Requirement

$2,202 ………… Monthly Mortgage Payment
$420 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$121 ………… Homeowners Insurance at 0.3%
$488 ………… Private Mortgage Insurance
$399 ………… Homeowners Association Fees
============================================
$3,630 ………. Monthly Cash Outlays

($483) ………. Tax Savings
($689) ………. Equity Hidden in Payment
$22 ………….. Lost Income to Down Payment
$81 ………….. Maintenance and Replacement Reserves
============================================
$2,561 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$6,350 ………… Furnishing and Move In at 1% + $1,500
$6,350 ………… Closing Costs at 1% + $1,500
$4,680 ………… Interest Points
$16,975 ………… Down Payment
============================================
$34,355 ………. Total Cash Costs
$39,200 ………. Emergency Cash Reserves
============================================
$73,555 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..

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We're sorry, but it seems that we're having some problems loading MLS # S690746 from our database. Please check back soon.

	$459,900 75 HIGHLAND Vw #46		0.24 miles 2 bd / 2 ba 1,600 Sq. Ft.
	$499,900 3 MORNING SONG #14		0.35 miles 3 bd / 2.5 ba 1,412 Sq. Ft.
	$528,900 9 SUMMERSET		0.36 miles 2 bd / 2.5 ba 1,740 Sq. Ft.
	$510,000 3 WHITEWATER #2		1.15 miles 2 bd / 1.5 ba 1,648 Sq. Ft.
	$615,000 34 COOL Brk		1.22 miles 3 bd / 2 ba 1,572 Sq. Ft.
	$471,900 35 STEPPING STONE		1.37 miles 3 bd / 3 ba 1,592 Sq. Ft.
	$509,900 23 STEPPING STONE		1.37 miles 3 bd / 2.75 ba 1,582 Sq. Ft.
	$630,000 85 VERMILLION		1.41 miles 3 bd / 3 ba 1,599 Sq. Ft.
	$499,999 44 SEASONS		1.41 miles 3 bd / 3 ba 1,600 Sq. Ft.
	$429,000 66 VERMILLION		1.47 miles 2 bd / 2.5 ba 1,181 Sq. Ft.

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