Laguna Niguel Overview
| Median home price is $451,000. Based on a rental parity value of $561,000, this market is under valued. |
| Monthly payment affordability has been improving over the last 11 month(s). Momentum suggests improving affordability. |
| Resale prices on a $/SF basis declined from $258/SF to $256/SF. |
| Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months. |
| Median rental rates declined $16 last month from $2,383 to $2,366. |
| Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months. |
| Market rating = 7 |
Proprietary South OC Housing News home purchase analysis 
24132 LAS NARANJAS Dr Laguna Niguel, CA 92677
$619,000 …….. Asking Price
$860,000 ………. Purchase Price
9/26/2006 ………. Purchase Date
($241,000) ………. Gross Gain (Loss)
($68,800) ………… Commissions and Costs at 8%
============================================
($309,800) ………. Net Gain (Loss)
============================================
-28.0% ………. Gross Percent Change
-36.0% ………. Net Percent Change
-5.9% ………… Annual Appreciation
Cost of Home Ownership
——————————————————————————
$619,000 …….. Asking Price
$123,800 ………… 20% Down Conventional
4.02% …………. Mortgage Interest Rate
30 ……………… Number of Years
$495,200 …….. Mortgage
$118,494 ………. Income Requirement
$2,370 ………… Monthly Mortgage Payment
$536 ………… Property Tax at 1.04%
………… Mello Roos & Special Taxes
$155 ………… Homeowners Insurance at 0.3%
$0 ………… Private Mortgage Insurance
………… Homeowners Association Fees
============================================
$3,061 ………. Monthly Cash Outlays
($384) ………. Tax Savings
($711) ………. Equity Hidden in Payment
$173 ………….. Lost Income to Down Payment
$175 ………….. Maintenance and Replacement Reserves
============================================
$2,314 ………. Monthly Cost of Ownership
Cash Acquisition Demands
——————————————————————————
$7,690 ………… Furnishing and Move In at 1% + $1,500
$7,690 ………… Closing Costs at 1% + $1,500
$4,952 ………… Interest Points
$123,800 ………… Down Payment
============================================
$144,132 ………. Total Cash Costs
$35,400 ………. Emergency Cash Reserves
============================================
$179,532 ………. Total Savings Needed
——————————————————————————————————————————————-
This property is available for sale via the MLS.
Please contact Shevy Akason, #01836707
949.769.1599……
sales@ochousingnews.com…..
We're sorry, but it seems that we're having some problems loading MLS # S691399 from our database. Please check back soon.
Competing Listings
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$749,900 24182 LAS NARANJAS Dr |
0.07 miles 3 bd / 3 ba 1,819 Sq. Ft. |
|
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$699,900 24246 LA HERMOSA Ave |
0.1 miles 4 bd / 2.5 ba 1,863 Sq. Ft. |
|
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$425,000 24354 CIELO |
0.31 miles 3 bd / 2.5 ba 1,690 Sq. Ft. |
|
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$495,000 24402 MIRA VERDE |
0.32 miles 3 bd / 2.5 ba 1,695 Sq. Ft. |
|
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$595,000 24541 LOS SERRANOS Dr |
0.37 miles 4 bd / 1.75 ba 1,814 Sq. Ft. |
|
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$315,000 24592 CAMDEN Ct |
0.39 miles 2 bd / 2.5 ba 1,400 Sq. Ft. |
|
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$599,900 24622 LOS SERRANOS Dr |
0.5 miles 4 bd / 1.75 ba 1,819 Sq. Ft. |
|
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$514,975 24641 LOS SERRANOS Dr |
0.53 miles 4 bd / 2 ba 1,774 Sq. Ft. |
|
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$599,000 19 KILLINI |
0.55 miles 4 bd / 2.5 ba 1,950 Sq. Ft. |
|
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$399,000 24306 HILLVIEW Dr |
0.62 miles 3 bd / 3.5 ba 1,716 Sq. Ft. |
For more news, market analysis and property profiles, please see the OC Housing News.
Mark this one down as wishful thinking.
Capital Economics Expects Recovery to Continue Even with Higher Rates
Even with recent reports of rising mortgage rates and falling home prices, Capital Economics stated it still expects the housing recovery to be underway.
The research firm cites two reasons in a report on why mortgage rates won’t threaten recovery: rates can only rise so far when tighter monetary policy is still years away, and homes will still be affordable even if mortgage rates were to rise back to normal levels.
Last week ending March 15, Freddie Mac reported the 30-year fixed rate at 3.92 percent, an increase from the 3.88 percent reported the prior week, but still below 4 percent for 15 consecutive weeks.
“We doubt that higher mortgage rates will derail a housing recovery that in the last six months has seen total home sales rise by 13 percent and the NAHB homebuilder activity index more than double to 28,” the research firm stated.
In addition to those recent reports, home prices are still dropping, with data from Zillow showing prices declined 4.6 percent from January 2011 to January 2012.
“Also, the fall in house prices over the last five years has been so large that even more normal mortgage rates would leave housing looking very affordable. And with housing appearing undervalued relative to disposable incomes per capita, valuations are also very favorable,” Capital Economics stated.
An economic outlook report from Fannie Mae echoed a similar sentiment about the direction of the housing market in a report Monday and stated, “GDP revisions for the fourth quarter of 2011 indicated a stronger underlying pace of demand with higher consumer spending and business investment.”
After four months of private sector payroll growth, the GSE named employment growth as an important factor in housing recovery.
Even with declining home prices, Capital Economics explained it can take up to six months for changes in demand and supply to have their full impact on house prices because even with attractive asking prices, it can still take a few months to find a buyer and another month or so before the contract is closed.
If the federal reserve believed higher rates were no big deal, then they wouldn’t have gone to such dramatic lengths to lower them.