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Irvine Housing Blog

Irvine Housing Blog

Link to Irvine Housing Blog

IHB News 12-25-2010

Posted: 25 Dec 2010 02:30 AM PST

Wishing you a merry Christmas and a happy new year.

Irvine Home Address ... 30 LYNNFIELD Irvine, CA 92620
Resale Home Price ...... $1,079,000

  

Housing Market News

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Wed Dec 22 2010
Housing Chill Could Trash 2011 (huffingtonpost.com)
California residential vacancy rates (firsttuesdayjournal.com)
Las Vegas is to real estate bubble what Detroit was to automobile industry (mybudget360.com)
Chart of US Mortgages Outstanding By Interest Rate (dailybail.com)
Using the yield spread to forecast recessions (firsttuesdayjournal.com)
Mortgage fraud and predatory lending has been around a long time (marketoracle.co.uk)
CEO Dick Fuld Got Millions In Special Bonus 4 Days Before Lehman Filed For Bankruptcy (dailybail.com)
Gov't report forbidden from saying "deregulation", "shadow banking", or "Wall Street" (nytimes.com)
Melbourne's Median House Prices Vs Wages 1965-2010 (simplesustainable.com)
16 US Cities Facing Bankruptcy If They Don't Make Deep Cuts In 2011 (businessinsider.com)
$2tn debt crisis threatens to bring down 100 US cities (guardian.co.uk)
Gov't bond yields illustrate European debt crisis (Mish)
Why the United States of America is Broke (Mish)
Dylan Ratigan and David Stockman on US Debt (youtube.com)
Max Keiser on silver, housing, Canada (youtube.com)

Find the real worth of property, based on rents (Ads by Patrick)


Tue Dec 21 2010
Why 2011 is not the time to buy a house in California (doctorhousingbubble.com)
2011 outlook: Housing falls another 15% to 30% (finance.yahoo.com)
Property Taxes Keep Rising as House Values Keep Falling (dailyfinance.com)
More see walking on mortgage as viable plan (msnbc.msn.com)
Robo-signing paperwork problems hit California, slow foreclosures (centralvalleybusinesstimes.com)
Why New York Foreclosures Are Grinding to a Halt: paperwork (4closurefraud.org)
Tax deduction for mortgage interest could be on the chopping block (latimes.com)
Senator Sanders's Socialism (economix.blogs.nytimes.com)
The Next Housing Bubble - Is This the Perfect Storm? (oyetimes.com)
Congress Threatens to Sow the Seeds of Our Next Banking Crisis (huffingtonpost.com)
How big banks managed to F us all: REGULATORY CAPTURE (en.wikipedia.org)
State guarantees of bank bonds mean poor pay taxes to keep the rich rich (policyexchange.org.uk)
For the middle class, bad times even during good times (newsitem.com)
Interest rate rise means 3m home debtors could struggle to pay mortgage (telegraph.co.uk)
Australian mortgage stress increases in 2010 (abc.net.au)
Buying foreclosed properties south of the (Canadian) border (vancouversun.com)
Trippy Real Estate Visualizations (fastcodesign.com)

Find the real worth of property, based on rents (Ads by Patrick)


Mon Dec 20 2010
The Great Housing Reset Continues (theatlantic.com)
An inconvenient housing sector (reuters.com)
More evidence O.C. house prices falling again (lansner.ocregister.com)
House prices fall dramatically (charlotteobserver.com)
Banks' resales of houses illustrate price drop (philly.com)
Will Mortgage Rate Rise Help Buyers With Cash? (blogs.wsj.com)
Families Swap Houses to Stop Foreclosure (foreclosureblues.wordpress.com)
College Education Bubble Already Exists (forbes.com)
Newly Built Ghost Towns Haunt Banks in Spain (nytimes.com)
Amazing Satellite Images Of The Ghost Cities Of China (businessinsider.com)
China Bubble: More interesting data and analysis (unconventionaleconomist.com)
Opening the Bag of Mortgage Tricks (nytimes.com)
Lenders' high bids at foreclosure auctions defer true accounting (denverpost.com)
"Black Swan" author Nassim Taleb on the Debt Crisis (Mish)
Nouriel Roubini buys $5.5m apt in NYC with massive adjustable loan (telegraph.co.uk)
The Government's favored minority (progressive.org)
Republicans, Theodore Roosevelt, and the estate tax compromise (latimes.com)
Not taxing the wealthiest (washingtonpost.com)
New Era of Cooperation Between White House and Big Business (robertreich.org)
20,000 Sacrificed In Annual Blood Offering To Corporate America (theonion.com)


Irvine Home Address ... 30 LYNNFIELD Irvine, CA 92620 

Resale Home Price ... $1,079,000

Home Purchase Price … $970,000
Home Purchase Date .... 5/11/2005

Net Gain (Loss) .......... $44,260
Percent Change .......... 4.6%
Annual Appreciation … 1.9%

Cost of Ownership
-------------------------------------------------
$1,079,000 .......... Asking Price
$215,800 .......... 20% Down Conventional
4.87% ............... Mortgage Interest Rate
$863,200 .......... 30-Year Mortgage
$220,123 .......... Income Requirement

$4,566 .......... Monthly Mortgage Payment

$935 .......... Property Tax
$175 .......... Special Taxes and Levies (Mello Roos)
$180 .......... Homeowners Insurance
$146 .......... Homeowners Association Fees
============================================
$6,001 .......... Monthly Cash Outlays

-$1243 .......... Tax Savings (% of Interest and Property Tax)
-$1062 .......... Equity Hidden in Payment
$404 .......... Lost Income to Down Payment (net of taxes)
$135 .......... Maintenance and Replacement Reserves
============================================
$4,235 .......... Monthly Cost of Ownership

Cash Acquisition Demands
------------------------------------------------------------------------------
$10,790 .......... Furnishing and Move In @1%
$10,790 .......... Closing Costs @1%
$8,632 ............ Interest Points @1% of Loan
$215,800 .......... Down Payment
============================================
$246,012 .......... Total Cash Costs
$64,900 ............ Emergency Cash Reserves
============================================
$310,912 .......... Total Savings Needed

Property Details for 30 LYNNFIELD Irvine, CA 92620 
------------------------------------------------------------------------------
Beds: 4
Baths: 2 full 1 part baths
Home size: 2,630 sq ft
($410 / sq ft)
Lot Size: 5,000 sq ft
Year Built: 2000
Days on Market: 34
Listing Updated: 40525
MLS Number: S639157
Property Type: Single Family, Residential
Community: Northwood
Tract: Lex2
------------------------------------------------------------------------------
According to the listing agent, this listing may be a pre-foreclosure or short sale.

Extraordinary find in beautiful Northwood Pointe. One of a kind home features European accents throughout. Venetian plaster by Parisian artisan, custom interior stain glass window, and gorgeous wrought iron bannister and balcony. Detailed crown moldings and baseboards, plantation shutters, dimmer light switches, solid wood interior doors and elegant wood floors. Kitchen with granite opens to family room with fireplace. Separate formal living room with vaulted ceilings and ajacent formal dining room. Convenient downstairs bedroom currently used as an office. Custom built laundry room with solid wood cabinets, granite countertops, deep basin sink, limestone floor .All closets with custom built ins. 3 car garage with loft storage racks and epoxy flooring. Walk to Award Winning Schools, community pool, parks and tennis courts.


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