Newport Coast Affordability Worsening

Newport Coast Overview

Median home price is $1,335,000. Based on a rental parity value of $972,000, this market is over valued.

Monthly payment affordability has been worsening over the last 2 month(s). Momentum suggests worsening affordability.

Resale prices have been rising for 1 month(s). Price momentum suggests unchanging prices over the next three months.

Resale prices that are unchanging generally causes payment affordability to decrease.

Rents have been slowly rising for 12 month(s). Price momentum suggests slowly rising rents over the next three months.

Rents that are slowly rising generally causes payment affordability to increase.

 

Proprietary OC Beach Housing News home purchase analysis

21 DORIAN Newport Coast, CA 92657

$1,224,000 …….. Asking Price
$965,000 ………. Purchase Price
8/20/2003 ………. Purchase Date

$259,000 ………. Gross Gain (Loss)
($77,200) ………… Commissions and Costs at 8%
============================================
$181,800 ………. Net Gain (Loss)
============================================
26.8% ………. Gross Percent Change
18.8% ………. Net Percent Change
2.7% ………… Annual Appreciation

Cost of Home Ownership
——————————————————————————
$1,224,000 …….. Asking Price
$244,800 ………… 20% Down Conventional
3.86% …………. Mortgage Interest Rate
30 ……………… Number of Years
$979,200 …….. Mortgage
$247,624 ………. Income Requirement

$4,596 ………… Monthly Mortgage Payment
$1,061 ………… Property Tax at 1.04%
………… Mello Roos & Special Taxes
$306 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
$434 ………… Homeowners Association Fees
============================================
$6,397 ………. Monthly Cash Outlays

($1,179) ………. Tax Savings
($1,446) ………. Equity Hidden in Payment
$321 ………….. Lost Income to Down Payment
$173 ………….. Maintenance and Replacement Reserves
============================================
$4,266 ………. Monthly Cost of Ownership

Cash Acquisition Demands
——————————————————————————
$13,740 ………… Furnishing and Move In at 1% + $1,500
$13,740 ………… Closing Costs at 1% + $1,500
$9,792 ………… Interest Points
$244,800 ………… Down Payment
============================================
$282,072 ………. Total Cash Costs
$65,300 ………. Emergency Cash Reserves
============================================
$347,372 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707

949.769.1599……

sales@ochousingnews.com…..

Name	*
Email	*
Phone	*

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Competing Listings

	$1,149,000 59 CLERMONT		0.33 miles 4 bd / 2.5 ba 2,500 Sq. Ft.
	$1,449,000 14 TESORO		0.35 miles 4 bd / 3 ba 2,490 Sq. Ft.
	$1,795,000 31 RENATA		0.43 miles 4 bd / 2.5 ba 2,490 Sq. Ft.
	$1,899,000 7 RENATA		0.48 miles 4 bd / 3 ba 2,777 Sq. Ft.
	$1,299,000 9 TROUVILLE		0.48 miles 4 bd / 2.75 ba 2,378 Sq. Ft.
	$1,095,000 4 CALAIS		0.55 miles 3 bd / 2.5 ba 2,173 Sq. Ft.
	$1,890,000 3 FIORE		0.68 miles 3 bd / 2.5 ba 2,552 Sq. Ft.
	$1,380,000 62 DRAKES BAY		0.84 miles 3 bd / 2 ba 2,219 Sq. Ft.
	$2,600,000 8 SUNSET Cv		0.97 miles 3 bd / 4 ba 2,996 Sq. Ft.
	$1,599,000 56 TIDAL SURF		1.06 miles 4 bd / 2.5 ba 2,772 Sq. Ft.

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