Woodbridge bounces along the bottom

Irvine: Woodbridge Overview

Median home price is $390,000. Based on a rental parity value of $574,000, this market is under valued.

Monthly payment affordability has been improving over the last 12 month(s). Momentum suggests improving affordability.

Resale prices on a $/SF basis increased from $297/SF to $299/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 $2,325 to $2,383.

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

69 LAKEVIEW #6 Irvine, CA 92604

$742,400 …….. Asking Price
$527,500 ………. Purchase Price
11/1/2002 ………. Purchase Date

$214,900 ………. Gross Gain (Loss)
($42,200) ………… Commissions and Costs at 8%
============================================
$172,700 ………. Net Gain (Loss)
============================================
40.7% ………. Gross Percent Change
32.7% ………. Net Percent Change
3.5% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$742,400 …….. Asking Price
$148,480 ………… 20% Down Conventional
3.68% …………. Mortgage Interest Rate
30 ……………… Number of Years
$593,920 …….. Mortgage
$156,891 ………. Income Requirement

$2,727 ………… Monthly Mortgage Payment
$643 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$186 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$497 ………… Homeowners Association Fees
============================================
$4,053 ………. Monthly Cash Outlays

($616) ………. Tax Savings
($906) ………. Equity Hidden in Payment
$180 ………….. Lost Income to Down Payment
$113 ………….. Maintenance and Replacement Reserves
============================================
$2,824 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$8,924 ………… Furnishing and Move In at 1% + $1,500
$8,924 ………… Closing Costs at 1% + $1,500
$5,939 ………… Interest Points
$148,480 ………… Down Payment
============================================
$172,267 ………. Total Cash Costs
$43,200 ………. Emergency Cash Reserves
============================================
$215,467 ………. Total Savings Needed
——————————————————————————————————————————————-

This property is available for sale on the MLS.

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	$999,000 59 LAKEVIEW #22		0 miles 3 bd / 2.25 ba 2,044 Sq. Ft.
	$999,000 55 LAKEVIEW		0 miles 3 bd / 2.25 ba 2,400 Sq. Ft.
	$1,129,000 53 LAKEVIEW #25		0 miles 4 bd / 2.5 ba 2,404 Sq. Ft.
	$1,300,000 37 LAKEVIEW #54		0 miles 3 bd / 3.75 ba 2,056 Sq. Ft.
	$589,000 22 LAKEVIEW #89		0.1 miles 3 bd / 2 ba 1,617 Sq. Ft.
	$839,000 24 LAKEVIEW #90		0.1 miles 4 bd / 3 ba 1,986 Sq. Ft.
	$649,900 5 WOODGROVE #10		0.2 miles 3 bd / 2.5 ba 1,840 Sq. Ft.
	$499,000 30 East YALE Loop #21		0.33 miles 3 bd / 2.5 ba 1,886 Sq. Ft.
	$454,900 60 CHARDONNAY #43		0.79 miles 2 bd / 2.5 ba 1,600 Sq. Ft.
	$354,900 24 SNAPDRAGON #14		0.81 miles 3 bd / 2.25 ba 1,561 Sq. Ft.

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