Bank needs to unload Beach Bunglow

Feb 272012

This house is an REO in Huntington Beach. It was purchased during the top of the market in 2007. It’s currently empty and one the market as an REO. I don’t have an agent view for this house.
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Proprietary OC Beach Housing News home purchase analysis

17062 KAMPEN Ln Huntington Beach, CA 92647

$389,900 …….. Asking Price
$565,000 ………. Purchase Price
6/6/2007 ………. Purchase Date

($175,100) ………. Gross Gain (Loss)
($45,200) ………… Commissions and Costs at 8%
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($220,300) ………. Net Gain (Loss)
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-31.0% ………. Gross Percent Change
-39.0% ………. Net Percent Change
-7.8% ………… Annual Appreciation

Cost of Home Ownership
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$389,900 …….. Asking Price
$13,647 ………… 3.5% Down FHA Financing
3.88% …………. Mortgage Interest Rate
30 ……………… Number of Years
$376,254 …….. Mortgage
$102,133 ………. Income Requirement

$1,770 ………… Monthly Mortgage Payment
$338 ………… Property Tax at 1.04%
………… Mello Roos & Special Taxes
$97 ………… Homeowners Insurance at 0.3%
$433 ………… Private Mortgage Insurance
………… Homeowners Association Fees
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$2,638 ………. Monthly Cash Outlays

($272) ………. Tax Savings
($554) ………. Equity Hidden in Payment
$18 ………….. Lost Income to Down Payment
$117 ………….. Maintenance and Replacement Reserves
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$1,948 ………. Monthly Cost of Ownership

Cash Acquisition Demands
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$5,399 ………… Furnishing and Move In at 1% + $1,500
$5,399 ………… Closing Costs at 1% + $1,500
$3,763 ………… Interest Points
$13,647 ………… Down Payment
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$28,207 ………. Total Cash Costs
$29,800 ………. Emergency Cash Reserves
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$58,007 ………. Total Savings Needed
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This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..

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