Feb262012

February 2012 OC Housing Market Newsletter

Below is the Update for the OC Housing Market as of December 31, 2011. It is free to download. You can also sign up to have this report emailed to you on a monthly basis.

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The Real State of OC Real Estate

OC Housing News monthly market report and newsletter provides a clear picture of the health of the housing market. Both buyers and sellers find the information timely and relevant to their decision to buy or sell a home. The collapse of the housing bubble clearly showed valuation matters, and real estate does not always go up.

If your new to this report, I suggest you start on page 45 with the Orange County housing market general overview, and follow with the two page discussion on what data is in the report and why it is important. A little background will make the report much easier to understand and digest.

The OC Housing News report answers the two most important questions to buyers and sellers: (1) Are current prices over or under valued, and (2) what direction are prices headed, up or down.

My commitment to you is to provide accurate data and unbiased analysis. I believe if people are armed with better information, people make better homebuyer decisions.

Larry Roberts

(Irvine Renter)

 

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You can download the report by clicking on the link above.

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Newport Coast Overview

Resale prices have been choppy. They are currently up 1.2%. Rents are rising strongly.

Median home price is $1,500,000. Based on a rental parity value of $1,130,048, this market is over valued.

Monthly payment affordability has been worsening over the last 1 month(s). Momentum suggests unchanging affordability.

Resale prices have been falling for 1 month(s). Price momentum suggests unchanging prices over the next three months.

Resale prices that are unchanging generally causes payment affordability to decrease.

Rents have been rising for 6 month(s). Price momentum suggests rising rents over the next three months.

Rents that are rising generally causes payment affordability to decrease.

Today’s featured property is an REO asking 32% off its peak purchase price. With 140 days on the market, they will have to ask a little less.

Proprietary OC Housing News home purchase analysis   [raw_html_snippet id=”post snippet”]

7 VIA AMANTI Newport Coast, CA 92657

$849,750    ……..    Asking Price
$1,245,000    ……….    Purchase Price
4/25/2006    ……….    Purchase Date

($395,250)    ……….    Gross Gain (Loss)
($99,600)    …………    Commissions and Costs at 8%
============================================
($494,850)    ……….    Net Gain (Loss)
============================================
-31.7%    ……….    Gross Percent Change
-39.7%    ……….    Net Percent Change
-6.3%    …………    Annual Appreciation

Cost of Home Ownership
——————————————————————————
$849,750    ……..    Asking Price
$169,950    …………    20% Down Conventional
3.91%    ………….    Mortgage Interest Rate
30    ………………    Number of Years
$679,800    ……..    Mortgage
$174,201    ……….    Income Requirement

$3,210    …………    Monthly Mortgage Payment
$736    …………    Property Tax at 1.04%
$0    …………    Mello Roos & Special Taxes
$212    …………    Homeowners Insurance at 0.3%
$0    …………    Private Mortgage Insurance
$341    …………    Homeowners Association Fees
============================================
$4,500    ……….    Monthly Cash Outlays

($738)    ……….    Tax Savings
($995)    ……….    Equity Hidden in Payment
$228    …………..    Lost Income to Down Payment
$126    …………..    Maintenance and Replacement Reserves
============================================
$3,121    ……….    Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$9,998    …………    Furnishing and Move In at 1% + $1,500
$9,998    …………    Closing Costs at 1% + $1,500
$6,798    …………    Interest Points
$169,950    …………    Down Payment
============================================
$196,743    ……….    Total Cash Costs
$47,800    ……….    Emergency Cash Reserves
============================================
$244,543    ……….    Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
[email protected]…..

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Competing Listings

18 VIA AMANTI, Newport Coast, CA $895,000
18 VIA AMANTI
0 miles
3 bd / 3 ba
1,901 Sq. Ft.
8 TERAMO Ct, Newport Coast, CA $724,500
8 TERAMO Ct
0.32 miles
3 bd / 2.5 ba
1,742 Sq. Ft.
11 VALORE Dr, Newport Coast, CA $1,195,000
11 VALORE Dr
0.41 miles
3 bd / 3 ba
1,954 Sq. Ft.
11 FECAMP, Newport Coast, CA $842,500
11 FECAMP
0.45 miles
4 bd / 2.5 ba
1,956 Sq. Ft.
1 CLASSICO Dr, Newport Coast, CA $1,145,000
1 CLASSICO Dr
0.48 miles
3 bd / 2.75 ba
1,954 Sq. Ft.
47 CALVADOS, Newport Coast, CA $889,000
47 CALVADOS
0.49 miles
4 bd / 2.5 ba
1,956 Sq. Ft.
83 MANDRIA, Newport Coast, CA $888,000
83 MANDRIA
1.16 miles
3 bd / 3.5 ba
2,200 Sq. Ft.
79 MANDRIA, Newport Coast, CA $779,000
79 MANDRIA
1.16 miles
2 bd / 2 ba
1,622 Sq. Ft.
18 TALMONT, Newport Coast, CA $799,900
18 TALMONT
1.16 miles
2 bd / 2 ba
1,622 Sq. Ft.
24 SARACENO, Newport Coast, CA $870,000
24 SARACENO
1.28 miles
3 bd / 2.5 ba
1,955 Sq. Ft.

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