University Park prices still falling sharply

Irvine: University Park Overview

Median home price is $467,000. Based on a rental parity value of $562,000, this market is under valued.

Monthly payment affordability has been worsening over the last 3 month(s). Momentum suggests worsening affordability.

Resale prices on a $/SF basis declined from $300/SF to $297/SF.

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

Median rental rates increased $33 last month from $2,300 to $2,333.

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

Market rating = 7

Proprietary Irvine Housing News home purchase analysis

4822 ROYCE Rd Irvine, CA 92612

$699,000 …….. Asking Price
$735,000 ………. Purchase Price
3/2/2005 ………. Purchase Date

($36,000) ………. Gross Gain (Loss)
($58,800) ………… Commissions and Costs at 8%
============================================
($94,800) ………. Net Gain (Loss)
============================================
-4.9% ………. Gross Percent Change
-12.9% ………. Net Percent Change
-0.7% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$699,000 …….. Asking Price
$139,800 ………… 20% Down Conventional
3.68% …………. Mortgage Interest Rate
30 ……………… Number of Years
$559,200 …….. Mortgage
$138,431 ………. Income Requirement

$2,568 ………… Monthly Mortgage Payment
$606 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$175 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$228 ………… Homeowners Association Fees
============================================
$3,576 ………. Monthly Cash Outlays

($580) ………. Tax Savings
($853) ………. Equity Hidden in Payment
$169 ………….. Lost Income to Down Payment
$107 ………….. Maintenance and Replacement Reserves
============================================
$2,420 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$8,490 ………… Furnishing and Move In at 1% + $1,500
$8,490 ………… Closing Costs at 1% + $1,500
$5,592 ………… Interest Points
$139,800 ………… Down Payment
============================================
$162,372 ………. Total Cash Costs
$37,000 ………. Emergency Cash Reserves
============================================
$199,372 ………. Total Savings Needed
——————————————————————————————————————————————-

This property is available for sale on the MLS.

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	$575,000 75 ACACIA TREE Ln		0.18 miles 3 bd / 2.25 ba 2,050 Sq. Ft.
	$699,000 5 HOLLY St		0.19 miles 3 bd / 2.25 ba 2,456 Sq. Ft.
	$769,000 4882 RAIN TREE Ln		0.22 miles 5 bd / 2.75 ba 2,511 Sq. Ft.
	$679,000 18 SATINWOOD Way		0.44 miles 5 bd / 2.5 ba 2,200 Sq. Ft.
	$738,000 16 NORTON St		0.67 miles 5 bd / 2.25 ba 2,291 Sq. Ft.
	$993,000 15 WATERSIDE		0.79 miles 4 bd / 3 ba 2,366 Sq. Ft.
	$889,000 8 RAINSTAR		0.88 miles 4 bd / 2.5 ba 2,500 Sq. Ft.
	$659,500 17501 TEACHERS Ave		0.96 miles 5 bd / 2.25 ba 2,067 Sq. Ft.
	$949,000 5062 BEREAN Ln		0.99 miles 4 bd / 2 ba 1,942 Sq. Ft.
	$1,099,900 18762 VIA SAN MARCO		1.04 miles 4 bd / 2 ba 1,925 Sq. Ft.

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