Irvine: Woodbridge Overview
Median home price is $416,000. Based on a rental parity value of $598,000, this market is under valued.
Monthly payment affordability has been improving over the last 7 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis increased from $299/SF to $303/SF.
Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months.
Median rental rates increased $58 last month from $2,383 to $2,441.
Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months.
Market rating = 8
Proprietary Irvine Housing News home purchase analysis 
$489,500 …….. Asking Price
$170,000 ………. Purchase Price
1/20/1988 ………. Purchase Date
$319,500 ………. Gross Gain (Loss)
($13,600) ………… Commissions and Costs at 8%
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$305,900 ………. Net Gain (Loss)
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187.9% ………. Gross Percent Change
179.9% ………. Net Percent Change
4.3% ………… Annual Appreciation
Cost of Home Ownership
——————————————————————————
$489,500 …….. Asking Price
$17,133 ………… 3.5% Down FHA Financing
3.67% …………. Mortgage Interest Rate
30 ……………… Number of Years
$472,368 …….. Mortgage
$138,073 ………. Income Requirement
$2,166 ………… Monthly Mortgage Payment
$424 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$122 ………… Homeowners Insurance at 0.3%
$492 ………… Private Mortgage Insurance
$362 ………… Homeowners Association Fees
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$3,567 ………. Monthly Cash Outlays
($467) ………. Tax Savings
($722) ………. Equity Hidden in Payment
$21 ………….. Lost Income to Down Payment
$81 ………….. Maintenance and Replacement Reserves
============================================
$2,480 ………. Monthly Cost of Ownership
Cash Acquisition Demands
——————————————————————————
$6,395 ………… Furnishing and Move In at 1% + $1,500
$6,395 ………… Closing Costs at 1% + $1,500
$4,724 ………… Interest Points
$17,133 ………… Down Payment
============================================
$34,646 ………. Total Cash Costs
$38,000 ………. Emergency Cash Reserves
============================================
$72,646 ………. Total Savings Needed
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This property is available for sale on the MLS.
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