Five different villages, five different floor plans. But all of the properties I am comparing today are within the price range of $740,000 to $760,000. Without analyzing each micro-market’s performance over the decade, or the age of the home and school districts, lets’ see how much house can we afford in each village. All of them are standard sales.
Quail HIll:
|
Listing Price
|
$749,000
|
|
Beds/ bath
|
3 Beds/ 2.5 bath
|
|
Area
|
2000 SF
|
|
Price/ SF
|
$374
|
|
Down payment
|
$149,800
|
|
Monthly mortgage, assuming 20% down payment, and 30 YR Fixed at 3.875%
|
$2818 Monthly
|
|
Home Owner’s Dues
|
$214
|
|
Mello-Roos
|
$2662 Annually
|
|
Property Tax (1.20782%)
|
$9046 Annually
|
|
Monthly Property tax +Mello Roos
|
$975 Monthly
|
|
Fixed Cost of owning
|
$4007 Monthly
|
Airport Area
5071 Scholarship #503 Irvine, CA 92612
|
Listing Price
|
$749,500
|
|
Beds/ bath
|
2 Beds/ 2 Baths
|
|
Area
|
1675 SF
|
|
Price/ SF
|
$447
|
|
Down payment
|
$149,900
|
|
Monthly mortgage, assuming 20% down payment, and 30 YR Fixed at 3.875%
|
$2820
|
|
Home Owner’s Dues
|
$975
|
|
Mello-Roos
|
$14.77
|
|
Property Tax (1.10663%)
|
$8294
|
|
Monthly Property tax +Mello Roos
|
$692
|
Portola Springs:
54 Land Grant Irvine, CA 92618
|
Listing Price
|
$749,990
|
|
Beds/ bath
|
3 Beds/ 2.5 Bath
|
|
Area
|
2044 SF
|
|
Price/ SF
|
$367
|
|
Down payment
|
$149,998
|
|
Monthly mortgage, assuming 20% down payment, and 30 YR Fixed at 3.875%
|
$2821
|
|
Home Owner’s Dues
|
$247
|
|
Mello-Roos
|
$3680
|
|
Property Tax (1.0595%)
|
$7946
|
|
Monthly Property tax +Mello Roos
|
$969
|
|
Fixed Cost of owning
|
$4037
|
Turtle Rock:
12 Mirador #5 Irvine, CA 92612
|
Listing Price
|
$750,000
|
|
Beds/ bath
|
2 Beds/ 2.5 Bath
|
|
Area
|
1839 SF
|
|
Price/ SF
|
$408
|
|
Down payment
|
$150,000
|
|
Monthly mortgage, assuming 20% down payment, and 30 YR Fixed at 3.875%
|
$2821
|
|
Home Owner’s Dues
|
$487
|
|
Mello-Roos
|
$145
|
|
Property Tax (1.0496%)
|
$7872
|
|
Monthly Property tax +Mello Roos
|
$668
|
|
Fixed Cost of owning
|
$3976
|
Woodbridge:
|
Listing Price
|
$759,000
|
|
Beds/ bath
|
3 Beds/ 2 baths
|
|
Area
|
2077 SF
|
|
Price/ SF
|
$365
|
|
Down payment
|
$151,800
|
|
Monthly mortgage, assuming 20% down payment, and 30 YR Fixed at 3.875%
|
$2855
|
|
Home Owner’s Dues
|
$489
|
|
Mello-Roos
|
$145
|
|
Property Tax (1.034%)
|
$7848
|
|
Monthly Property tax +Mello Roos
|
$666
|
|
Fixed Cost of owning
|
$4010
|
Which condo would you buy?
Do the Mello Roos and Property Tax rate affect your decision?
Would you rather pay more for the house than the big HOA dues?
How do you pick your village in Irvine?
Discuss below or on Talk Irvine.
Cubic,
Better than what I’ve seen peeking through Irvine’s housing market.
It’s currently a buy for starter to mid priced homes over here at NOrthern NV. Looking at your previous posts could it slowly be turning into a seller’s market for Irvine?
But, man, that property tax ($9,000!) has got to hurt…ours is around $3,000 for a comparable home.
Good post..
-Joe
“What Would $750,000 buy in Irvine?”
Who CARES …as long as FHA is picking-up the tab, right?
I encourage EVERYONE to take-out an FHA loan (even if you can afford a conventional loan ..perhaps I should say ESPECIALLY if you can afford a conventional loan), make one or two payments and then promptly DEFAULT! Once you do this you’ll get about 2-5 years of PAYMENT-FREE LIVING which you can use to save-up some serious cash.
THEN you can go to any of these “Rebuild Your Credit” services and for a measly $1K (give or take) you can have the default WIPED FROM YOUR CREDIT HISTORY!!!
The U.S. government WANTS to re-inflate the housing bubble. Be a good American and HELP OBAMA!
Tune in next week when I’ll teach you how to qualify for Food Stamps ..even when you DON’T really qualify at all.ItsTheFraudStupids