Woodbridge 8.4% off last year

Woodbridge is being hit particularly hard by the housing bust. With 75% of Woodbridge being condos, and with condo prices getting hammered, Woodbridge has become a bargain community relative to Irvine standards.

Today’s featured property is being offered for 42.5% off its peak purchase price. This condo has declined in price nearly 10% per year every year since 2006. Double digit price moves are much more fun when they are going up.

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Proprietary Irvine Housing News home purchase analysis

22 WINTERBRANCH #5 Irvine, CA 92604

$232,900 …….. Asking Price
$405,000 ………. Purchase Price
9/28/2006 ………. Purchase Date

($172,100) ………. Gross Gain (Loss)
($32,400) ………… Commissions and Costs at 8%
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($204,500) ………. Net Gain (Loss)
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-42.5% ………. Gross Percent Change
-50.5% ………. Net Percent Change
-9.9% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$232,900 …….. Asking Price
$8,152 ………… 3.5% Down FHA Financing
3.87% …………. Mortgage Interest Rate
30 ……………… Number of Years
$224,749 …….. Mortgage
$74,932 ………. Income Requirement

$1,056 ………… Monthly Mortgage Payment
$202 ………… Property Tax at 1.04%
$0 ………… Mello Roos & Special Taxes
$58 ………… Homeowners Insurance at 0.3%
$258 ………… Private Mortgage Insurance
$361 ………… Homeowners Association Fees
============================================
$1,936 ………. Monthly Cash Outlays

($162) ………. Tax Savings
($331) ………. Equity Hidden in Payment
$11 ………….. Lost Income to Down Payment
$49 ………….. Maintenance and Replacement Reserves
============================================
$1,502 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$3,829 ………… Furnishing and Move In at 1% + $1,500
$3,829 ………… Closing Costs at 1% + $1,500
$2,247 ………… Interest Points
$8,152 ………… Down Payment
============================================
$18,057 ………. Total Cash Costs
$23,000 ………. Emergency Cash Reserves
============================================
$41,057 ………. 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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We're sorry, but we couldn't find MLS # S687104 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Competing Listings

	$342,999 22 BRIARWOOD #72		0.32 miles 3 bd / 2 ba 1,220 Sq. Ft.
	$374,900 10 WILLOWGROVE		0.37 miles 2 bd / 1.75 ba 1,235 Sq. Ft.
	$380,000 69 BRIARGLEN #53		0.49 miles 2 bd / 2 ba 1,227 Sq. Ft.
	$386,100 53 BRIARGLEN #60		0.49 miles 2 bd / 2.5 ba 1,080 Sq. Ft.
	$250,000 75 WILDWOOD #30		0.49 miles 2 bd / 1 ba 921 Sq. Ft.
	$389,000 12 EASTMONT		0.49 miles 3 bd / 2 ba 1,135 Sq. Ft.
	$389,900 45 EASTMONT		0.53 miles 3 bd / 2 ba 1,104 Sq. Ft.
	$300,000 10 GREENLEAF		0.55 miles 2 bd / 1.5 ba 1,022 Sq. Ft.
	$215,000 197 BRIARWOOD		0.55 miles 2 bd / 1 ba 928 Sq. Ft.
	$285,000 50 EAGLE Pt		0.68 miles 3 bd / 1.75 ba 1,135 Sq. Ft.

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