Walnut prices unchanged in last six months

Irvine: Walnut Overview

Median home price is $497,000. Based on a rental parity value of $636,000, this market is fairly valued.

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

Resale prices on a $/SF basis declined from $292/SF to $289/SF.

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

Median rental rates increased $32 last month from $2,566 to $2,599.

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

Market rating = 3

Proprietary Irvine Housing News home purchase analysis

21 GEORGIA Irvine, CA 92606

$699,000 …….. Asking Price
$323,500 ………. Purchase Price
3/17/1999 ………. Purchase Date

$375,500 ………. Gross Gain (Loss)
($25,880) ………… Commissions and Costs at 8%
============================================
$349,620 ………. Net Gain (Loss)
============================================
116.1% ………. Gross Percent Change
108.1% ………. Net Percent Change
5.7% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$699,000 …….. Asking Price
$139,800 ………… 20% Down Conventional
3.67% …………. Mortgage Interest Rate
30 ……………… Number of Years
$559,200 …….. Mortgage
$134,644 ………. Income Requirement

$2,564 ………… Monthly Mortgage Payment
$606 ………… Property Tax at 1.04%
$8 ………… Mello Roos & Special Taxes
$175 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$125 ………… Homeowners Association Fees
============================================
$3,478 ………. Monthly Cash Outlays

($405) ………. Tax Savings
($854) ………. Equity Hidden in Payment
$169 ………….. Lost Income to Down Payment
$107 ………….. Maintenance and Replacement Reserves
============================================
$2,495 ………. 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
$38,200 ………. Emergency Cash Reserves
============================================
$200,572 ………. Total Savings Needed
——————————————————————————————————————————————-

This property is available for sale on the MLS.

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	$628,000 14221 WYETH Ave		0.41 miles 4 bd / 2.5 ba 2,268 Sq. Ft.
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	$935,000 35 BELLA ROSA		0.61 miles 4 bd / 2.5 ba 2,600 Sq. Ft.
	$839,990 15 STONEGATE		0.62 miles 3 bd / 2.5 ba 2,000 Sq. Ft.
	$870,000 15 RIVEROAKS		0.62 miles 3 bd / 2.5 ba 2,200 Sq. Ft.
	$648,888 3962 ASH St		0.81 miles 4 bd / 2.25 ba 1,873 Sq. Ft.
	$684,800 19 COLONIAL		0.9 miles 3 bd / 2 ba 1,884 Sq. Ft.
	$650,000 1 SHELBY		0.91 miles 3 bd / 2.5 ba 1,841 Sq. Ft.
	$624,500 3972 BANYAN St		0.98 miles 4 bd / 2.75 ba 2,210 Sq. Ft.
	$659,000 3921 BLACKTHORN St		0.98 miles 4 bd / 2.25 ba 1,897 Sq. Ft.

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