We winnin, I push it very hard We winnin, I climb a lot of mountains We winnin, I ran a million yards We winnin, but man who's counting We winnin, it ain't about to slow down We winnin, you're gonna have to catch me
On my trip to Las Vegas last week, I put in a ridiculously low offer on an auction property and got it. It's always nice to start with a home run. I will devote a post to it as soon as I have it cleaned up and photographed.
For those considering investing in the fund or processing your paperwork, this does put an increased urgency on your part. When this house closes escrow (which will likely be at least 45 days from now if not weeks longer), the fund will permanently close to new investors.
Home Purchase Price … $9,754,800 Home Purchase Date .... 4/8/2008
Net Gain (Loss) .......... $8,058,200 Percent Change .......... 82.6% Annual Appreciation … 26.9%
Cost of Ownership ------------------------------------------------- $18,950,000 .......... Asking Price $3,790,000 .......... 20% Down Conventional 4.31% ............... Mortgage Interest Rate $15,160,000 .......... 30-Year Mortgage $3,621,450 .......... Income Requirement
$75,112 .......... Monthly Mortgage Payment
$16423 .......... Property Tax $750 .......... Special Taxes and Levies (Mello Roos) $1579 .......... Homeowners Insurance $550 .......... Homeowners Association Fees ============================================ $94,414 .......... Monthly Cash Outlays
-$5604 .......... Tax Savings (% of Interest and Property Tax) -$20662 .......... Equity Hidden in Payment $5917 .......... Lost Income to Down Payment (net of taxes) $2369 .......... Maintenance and Replacement Reserves ============================================ $76,433 .......... Monthly Cost of Ownership
Cash Acquisition Demands ------------------------------------------------------------------------------ $189,500 .......... Furnishing and Move In @1% $189,500 .......... Closing Costs @1% $151,600 ............ Interest Points @1% of Loan $3,790,000 .......... Down Payment ============================================ $4,320,600 .......... Total Cash Costs $1,171,600 ............ Emergency Cash Reserves ============================================ $5,492,200 .......... Total Savings Needed
Property Details for 44 BLUE HERON Irvine, CA 92603 ------------------------------------------------------------------------------ Beds: 5 Baths: 6 full 3 part baths Home size: 13,500 sq ft ($1,404 / sq ft) Lot Size: 40,208 sq ft Year Built: 2006 Days on Market: 12 Listing Updated: 40444 MLS Number: U10004314 Property Type: Single Family, Residential Community: Turtle Rock Tract: Shdc ------------------------------------------------------------------------------ VILLA TRANQUILLO - Behind the gates of Shady Canyon, perched on a one acre site, sits this spectacular Tuscan inspired villa. As you enjoy the reflection of one's passion you will see work of the finest craftsmen teamed to turn design dreams into reality. The setting is exceptional. The eighty foot infinity pool, so married to the space that you would never know it is also a lap pool, presents a backdrop for tranquil vistas of rolling hills and open space which will never be developed. At night the majestic fifty foot cedar trees silhouette the sky as you enjoy the twinkle of distant lights and the quiet of low density living. The latest technology, teamed with a tasteful sense of design, brings old world charm to a new level - creating a feel throughout the home of utter comfort. From furnishings to artwork(included in the sale) a level of taste and sophistication rarely matched.
That is a very good description. There are just enough emotive words to make it interesting, but not so many as to be over the top and cheezy.
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