Monday, April 23, 2012

Irvine Housing Blog

Irvine Housing Blog

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What Would $750,000 buy in Irvine?

Posted: 23 Apr 2012 05:00 AM PDT

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:
91 Canopy Irvine, CA 92603

 

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:

63 Lakefront Irvine, CA 92604

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.


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