Did Shady Canyon appreciate 35% since 2008?

The owner of today’s featured property believes his property has appreciated 35% since early 2008 when he bought. The rest of the market has declined about 20% since then. Is it reasonable to think this house went the other way?

Some say the rich get richer, but only if a greater fool comes along to pay a lot more for an already overpriced house.

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Proprietary OC Housing News home purchase analysis

44 BLUE HERON Irvine, CA 92603

$13,900,000 …….. Asking Price
$10,250,000 ………. Purchase Price
4/8/2008 ………. Purchase Date

$3,650,000 ………. Gross Gain (Loss)
($820,000) ………… Commissions and Costs at 8%
============================================
$2,830,000 ………. Net Gain (Loss)
============================================
35.6% ………. Gross Percent Change
27.6% ………. Net Percent Change
8.2% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$13,900,000 …….. Asking Price
$2,780,000 ………… 20% Down Conventional
3.95% …………. Mortgage Interest Rate
30 ……………… Number of Years
$11,120,000 …….. Mortgage
$2,690,589 ………. Income Requirement

$52,769 ………… Monthly Mortgage Payment
$12,047 ………… Property Tax at 1.04%
$667 ………… Mello Roos & Special Taxes
$3,475 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$550 ………… Homeowners Association Fees
============================================
$69,507 ………. Monthly Cash Outlays

($4,295) ………. Tax Savings
($16,165) ………. Equity Hidden in Payment
$3,784 ………….. Lost Income to Down Payment
$1,758 ………….. Maintenance and Replacement Reserves
============================================
$54,588 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$140,500 ………… Furnishing and Move In at 1% + $1,500
$140,500 ………… Closing Costs at 1% + $1,500
$111,200 ………… Interest Points
$2,780,000 ………… Down Payment
============================================
$3,172,200 ………. Total Cash Costs
$836,700 ………. Emergency Cash Reserves
============================================
$4,008,900 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..

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Competing Listings

	$9,900,000 44 GOLDEN EAGLE		0.23 miles 5 bd / 7 ba 8,862 Sq. Ft.
	$7,295,000 21 BOULDER Vw		0.66 miles 5 bd / 7 ba 10,000 Sq. Ft.
	$14,888,888 28 BOULDER Vw		0.68 miles 6 bd / 9.5 ba 15,002 Sq. Ft.
	$14,999,000 36 BOULDER Vw		0.8 miles 6 bd / 10 ba 9,800 Sq. Ft.
	$10,999,980 51 ECHO Gln		1.3 miles 7 bd / 11 ba 14,257 Sq. Ft.

Turtle Rock/Shady Canyon Distressed properties

Showing properties 1 - 1 of 1. See more IR - Turtle Rock Distressed.
(all data current as of 5/25/2013)

1. $4,795,000 : 54 Vernal Spring, Irvine
   
   5 beds, 5 full, 1 part baths

   Home size: 6,389 sq ft

   Lot size: 34,613 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Turtle Rock/Shady Canyon Equity sellers

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