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IHB News 1-15-2011

Posted: 15 Jan 2011 02:30 AM PST

I hope you are enjoying your weekend.

Irvine Home Address ... 13 HAWTHORN Irvine, CA 92612
Resale Home Price ...... $489,000

 

Housing Market News

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Fri Jan 14 2011
Keep the housing crash news alive in 2011! $17,137 from 507 donors backers so far.
More Than One Million Houses Foreclosed on in 2010 (pbs.org)
Over 1 million indebted Americans seen losing houses in 2011 (finance.yahoo.com)
3,825,637 foreclosure filings on 2,871,891 US properties in 2010 (centralvalleybusinesstimes.com)
Foreclosure Filings in U.S. May Jump 20% From Record 2010 as Crisis Peaks (bloomberg.com)
The foreclosure glut is coming (cnbc.com)
Anatomy of a Foreclosure (marketplace.publicradio.org)
Housing Still on Life Support - And There Is More Pain Ahead (seekingalpha.com)
The iron grip of ARMs on California real estate (firsttuesdayjournal.com)
How Did Canada Avoid the Foreclosure Crisis? (totalmortgage.com)
Demographics mean a whole new housing crash (theglobeandmail.com)
Banks walk away from foreclosures. No consequences for them. (chicagotribune.com)
Unlike US, EU wants bondholders to share bank bailout costs (maltabusinessweekly.com.mt)
Dollar War in Detail (from November - michael-hudson.com)
S&P 500 up 90% from bottom but housing values down 30% (mybudget360.com)
Doubts About Whether Tax Credits Stimulate Investment (economix.blogs.nytimes.com)
Owners sue realtor and agency for allegedly rebuffing offer (stclairrecord.com)
If RV lifestyle suits you, it's a good time to buy (sfgate.com)
Shooting Suspect Released After Not Breaking Any Arizona Laws (theonion.com)


Thu Jan 13 2011
Keep the housing crash news alive in 2011! $16,839 from 502 backers so far.
Shiller: Expect House Prices to Decline in 2011 (youtube.com)
Prime Southern CA Cities Tipping Downward (doctorhousingbubble.com)
Homedebtor Tricks To Get Out of Paying Mortgage (wsbtv.com)
Responsibility: But Didn't The Borrower Sign The Mortgage? (old but good - ourbroker.com)
Foreclosure ruling may be good news for homedebtors (marketwatch.com)
Nightmare on Wall Street (huffingtonpost.com)
Banks foreclose on rental property owners with excellent payment histories (4closurefraud.org)
US Banks Report Phantom Income on $1.4 Trillion Delinquent Mortgages (Mish)
Public strongly opposes debt ceiling increase (reuters.com)
Will Raising the Debt Ceiling Bail Out the Banks, Again? (usawatchdog.com)
Despite QE2, Interest Rates Will Likely Keep Rising (dailyfinance.com)
Could the U.S. Dollar Rise 50%? (Charles Hugh Smith)
An easy inflation-killing idea: Save the penny (theglobeandmail.com)
Many Rich People Don't Feel Very Rich; Only a few get most income (nytimes.com)
Few foreclosures, no bank failures in Canada because no mortgage deduction (mcclatchydc.com)


The Nursing Home Survival Guide (patrick.net)


Wed Jan 12 2011
Keep the housing crash news alive in 2011! $16,171 from 488 backers so far.
House prices fall for fourth straight month (upack.com)
House price drops exceed Great Depression (reuters.com)
No U.S. housing inflation until 2012 (wildly optimistic) (financialpost.com)
House sales languish in Las Vegas (upack.com)
ZipRealty closing 11 unprofitable offices (thebusinessjournal.com)
Jobless claims top 600,000 in November (economy.ocregister.com)
Job Openings in U.S. Fall by 80,000 to 3.25 Million (bloomberg.com)
Downturn's Ugly Trademark: Steep, Lasting Drop in Wages (online.wsj.com)
The future belongs to the adaptable (theautomaticearth.blogspot.com)
Young refuse to pay debts incurred by the old (bloomberg.com)
France's Sarkozy Brings Message on Dollar to US (nytimes.com)
Japan Will Buy Euro-Region Bonds, Joining China in Assisting Irish Bailout (bloomberg.com)
Corporate Communism Is Killing Us (old but true - businessinsider.com)
Reclaim Democracy for the People! (citizensamendment.org)
California Treasurer Spanks Legislature (youtube.com)


The Nursing Home Survival Guide (patrick.net)


Tue Jan 11 2011
Keep the housing crash news alive in 2011! $15,962 from 482 backers so far.
Legal confusion and uncertainty now surrounds the housing market (thestreet.com)
Massachusetts Ruling on Foreclosures Is a Warning to Banks (nytimes.com)
A Lawsuit That Dirty Debt Collectors Should Be Worried About (dailyfinance.com)
Grandma in California Uncovers Major Robo-notary Violations (4closurefraud.org)
The Truth About Real Estate Prices (sfgate.com)
Trend Toward Renting Continues, Even Among Those Who Could Easily Buy (online.wsj.com)
The job market: a lost decade (marketwatch.com)
The End of New Deal Liberalism (thenation.com)
The long-term fall in the housing price index (themarketfinancial.com)
Gold is a bubble - resist its charms (money.cnn.com)
China property market limps into new year (malaya.com.ph)
Central banker urges China to cut US debt holdings (reuters.com)
Sovereign Debt Unsafe, Default Concern Spreads to US, Japan (bloomberg.com)
Brooke Astor Apartment to Sell For $27M Off? (ny.curbed.com)


Find the real worth of property, based on rents


Mon Jan 10 2011
Keep the housing crash news alive in 2011! $15,451 from 469 backers so far.
Decades for house prices to re-inflate (finance.yahoo.com)
Housing market to drag on rebound: NY Fed official (reuters.com)
Fannie Mae is jacking up mortgage fees (latimes.com)
Bank may go after your other assets if you're in foreclosure (sun-sentinel.com)
Beverly Hills foreclosure listed at $16.95M now on market for $8.59M (doctorhousingbubble.com)
How Foreclosure Crisis Hits Jewish Community (jewishtimes.com)
Banks lose key foreclosure ruling in top Massachusetts court (reuters.com)
On Australians buying US foreclosures (financialfollies.blogspot.com)
Rent costs half my income - and it's worth it (money.cnn.com)
U.S. Payrolls Miss Forecast, Showing Labor Market Recovery May Take Years (bloomberg.com)
Credit card debt plummets as banks recover sanity about risk (mybudget360.com)
Elizabeth Warren & Bill Maher Discuss Usury And The Credit Card Bill Of Rights (dailybail.com)
MERS page gives info on some mortgages (mers-servicerid.org)
Why was Giffords shot? (greaterfool.ca)
The Conservative Constitution of the United States (washingtonpost.com)
The problem is fraud, deregulation, and vast concentration of wealth (nytimes.com)
The little red book that swept France (independent.co.uk)
Patrick on CBS in San Francisco about Blue Shield price gouging (sanfrancisco.cbslocal.com)
Medicare for all is a reasonable answer (youtube.com)

Irvine Home Address ... 13 HAWTHORN Irvine, CA 92612    

Resale Home Price ... $489,000

Home Purchase Price … $190,000
Home Purchase Date .... 10/21/97

Net Gain (Loss) .......... $269,660
Percent Change .......... 141.9%
Annual Appreciation … 7.2%

Cost of Ownership
-------------------------------------------------
$489,000 .......... Asking Price
$17,115 .......... 3.5% Down FHA Financing
4.79% ............... Mortgage Interest Rate
$471,885 .......... 30-Year Mortgage
$98,845 .......... Income Requirement

$2,473 .......... Monthly Mortgage Payment

$424 .......... Property Tax
$0 .......... Special Taxes and Levies (Mello Roos)
$82 .......... Homeowners Insurance
$209 .......... Homeowners Association Fees
============================================
$3,187 .......... Monthly Cash Outlays

-$404 .......... Tax Savings (% of Interest and Property Tax)
-$589 .......... Equity Hidden in Payment
$31 .......... Lost Income to Down Payment (net of taxes)
$61 .......... Maintenance and Replacement Reserves
============================================
$2,287 .......... Monthly Cost of Ownership

Cash Acquisition Demands
------------------------------------------------------------------------------
$4,890 .......... Furnishing and Move In @1%
$4,890 .......... Closing Costs @1%
$4,719 ............ Interest Points @1% of Loan
$17,115 .......... Down Payment
============================================
$31,614 .......... Total Cash Costs
$35,000 ............ Emergency Cash Reserves
============================================
$66,614 .......... Total Savings Needed

Property Details for 13 HAWTHORN Irvine, CA 92612
------------------------------------------------------------------------------
Beds: 3
Baths: 2 baths
Home size: 1,539 sq ft
($318 / sq ft)
Lot Size: 2,500 sq ft
Year Built: 1974
Days on Market: 7
Listing Updated: 40553
MLS Number: S643461
Property Type: Condominium, Residential
Community: University Park
Tract: Tr
------------------------------------------------------------------------------
NOT A SHORT SALE!!! Single level home with no one above or below. Situated in one of Irvines most sought after communities; the Terrace. Home is at the end of a cul de sac with an oversized driveway and a two car attached garage with direct access to the house. There are three large bedrooms and one has a secluded small patio/atrium. There is a large patio off the living area with plenty of room to entertain. The kitchen has an eat-in area and plenty of counter and cabinet space. This lovely home is surrounded by greenbelts and this family community has two pools, a club house, lots of walking trails and tot lots for the little ones to play in. Walking distance to Irvines award winning schools (Uni High is also very close), stores and parks. Also close to the 405 and 5 and toll roads. The beautiful beaches of Orange County are a few minutes drive away. Hurry, this one will not last.

hat tip SGIP


real estate home sales


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