Irvine: Woodbridge Overview
Median home price is $388,000. Based on a rental parity value of $560,000, this market is under valued.
Monthly payment affordability has been improving over the last 2 month(s). Momentum suggests improving affordability.
Resale prices on a $/SF basis increased to $292/SF to $300/SF.
Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months.
Median rental rates increased $0 last month from $2,350 to $2,350.
Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months.
Market rating = 9
Proprietary Irvine Housing News home purchase analysis 
45 WILLOWGROVE Irvine, CA 92604
$619,900 …….. Asking Price
$256,000 ………. Purchase Price
9/17/1996 ………. Purchase Date
$363,900 ………. Gross Gain (Loss)
($20,480) ………… Commissions and Costs at 8%
============================================
$343,420 ………. Net Gain (Loss)
============================================
142.1% ………. Gross Percent Change
134.1% ………. Net Percent Change
5.7% ………… Annual Appreciation
Cost of Home Ownership
——————————————————————————
$619,900 …….. Asking Price
$123,980 ………… 20% Down Conventional
3.76% …………. Mortgage Interest Rate
30 ……………… Number of Years
$495,920 …….. Mortgage
$129,202 ………. Income Requirement
$2,299 ………… Monthly Mortgage Payment
$537 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$155 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$346 ………… Homeowners Association Fees
============================================
$3,338 ………. Monthly Cash Outlays
($366) ………. Tax Savings
($746) ………. Equity Hidden in Payment
$156 ………….. Lost Income to Down Payment
$97 ………….. Maintenance and Replacement Reserves
============================================
$2,479 ………. Monthly Cost of Ownership
Cash Acquisition Demands
——————————————————————————
$7,699 ………… Furnishing and Move In at 1% + $1,500
$7,699 ………… Closing Costs at 1% + $1,500
$4,959 ………… Interest Points
$123,980 ………… Down Payment
============================================
$144,337 ………. Total Cash Costs
$38,000 ………. Emergency Cash Reserves
============================================
$182,337 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale on the MLS.
Click on image to email us for more information.
We're sorry, but it seems that we're having some problems loading MLS # S699501 from our database. Please check back soon.
 |
$739,000 16 FALLBROOK |
0.42 miles 4 bd / 2.5 ba 2,044 Sq. Ft. |
|
 |
$729,900 24 MEADOWGRASS |
0.88 miles 4 bd / 2.25 ba 1,950 Sq. Ft. |
|
 |
$789,900 10 CHENILE |
0.92 miles 4 bd / 2.5 ba 1,971 Sq. Ft. |
|
 |
$579,900 8 STAR THISTLE |
0.93 miles 3 bd / 2 ba 1,587 Sq. Ft. |
|
 |
$809,000 14 PARTRIDGE |
0.95 miles 4 bd / 3 ba 2,200 Sq. Ft. |
|
 |
$583,000 49 SPARROWHAWK |
1.04 miles 4 bd / 2 ba 1,662 Sq. Ft. |
|
 |
$709,800 16 SANTA CATALINA AISLE |
1.29 miles 4 bd / 2.5 ba 1,900 Sq. Ft. |
|
 |
$645,000 12 AVANZARE |
1.38 miles 3 bd / 2.5 ba 1,890 Sq. Ft. |
|
 |
$749,900 63 WELLINGTON |
1.5 miles 4 bd / 2.5 ba 2,100 Sq. Ft. |
|
 |
$532,000 3762 BLACKTHORN St |
1.5 miles 4 bd / 1.75 ba 1,640 Sq. Ft. |
Sign up for the OC Housing News monthly market newsletter.
See the enormous foreclosure pipeline for yourself below. Enter location and press search. Scroll through list by pressing "next."
We provide detailed information on any property.
Radar Logic is going against the chorus of bottom callers and wisely acknowledging the supply problem overhanging the market.
Radar Logic: Prices Will Fall Further, Strengths Due to Temporary Forces
Even though Radar Logic reported a monthly increase in home prices for March, the analytics company expects prices to fall and gave credit to “temporary market forces” for recent strengths seen in the housing market.
“In light of the oversupply we continue to see in the market, we disagree with the widespread view that home prices have reached a bottom or will do so in the near future,” said Michael Feder, president and CEO of Radar Logic.
Feder added that a negative response to economic news, either in the U.S. or elsewhere, could also undermine housing demand and seriously hurt home prices.
According to Radar Logic, the RPX Composite price, which tracks home prices in 25 major metropolitan areas, showed a 1.8 percent increase on a monthly basis, but decreased by 0.87 percent year-over-year in March.
With distressed homes remaining a significant portion of home sales transactions, Radar Logic said the significant discounts for distressed properties in relation to non-distressed means a further fall in prices.
According to RealtyTrac, homes in foreclosure or bank-owned accounted for 26 percent of all residential sales during the first quarter of 2012. In addition, the average sales price of homes in foreclosure or bank-owned in the same quarter was $161,214, which is a 27 percent discount compared to the average sales price of homes not in foreclosure or bank-owned.
Quinn W. Eddins, director of research and author of the report, wrote, “Large inventories of REO and homes in the foreclosure process still have to make their way into the ‘visible’ inventory of homes listed for sale, and as they do they will weigh on home prices.”
As for the temporary forces giving the market an added boost, the report named institutional investors as one of the driving factors. As rental prices increase, large investors are buying up discounted properties to convert them into rental units. This trend is driving up prices for distressed properties in certain metros where investor demand is high. Once prices for discounted properties rise to the point that investors won’t yield the return they are seeking, demand will decline again.
Another market influence Radar Logic highlighted is the mild winter weather that was seen in many parts of the U.S. This led to an earlier start for home shopping. As a result, Radar Logic said the price for March’s strength may be paid by a weaker buying season later.
Radar Logic expects national home prices to decline over the next 18 months, but said when it comes down to it, timing of the bottom is academic.
However, the analytics company said, “The important point is that national home prices are not going to increase in a sustained and meaningful manner anytime soon.”