Is eight your lucky number? The seller of today's featured property certainly hopes so.
Irvine Home Address … 89 CANYON Crk Irvine, CA 92603
Resale Home Price …… $8,888,888
Look at the stars
Look how they shine for you
And everything you do
Yeah, they were all yellow
I came along
I wrote a song for you
And all the things you do
And it was called "Yellow"
So then I took my turn
Oh what a thing to have done
And it was all "Yellow"
Coldplay — Yellow
The Writer's Corner
The Cause Shoppe
Today, I want to introduce you to one of my heroes, Romney Snyder. I first met Romney five years ago with her first son (pictured right). Her generosity of heart is very special. I admire who she is and how she lives. She is an ordinary hero you might never hear about. I think that makes her extraordinary.
A single mom to two special needs boys – one with Down syndrome and the other with neurological and behavioral issues – Romney’s adventure in motherhood began with her first son’s 2004 adoption and only got more exciting with the second adoption in 2007. An open advocate for adoption (of both the child and canine varieties) she also plays mom to two rescued Pit Bulls and a Malti-poo mix. Earning a reputation as a “volunteeraholic,” Romney has been following her heart and involved with a variety of nonprofits since her high school days. Originally raising Guide Dog puppies in high school, Romney continued her charitable involvement beyond her college years, serving as a volunteer wish granter with the Make-A-Wish Foundation and an emergency disaster responder with the American Red Cross, which she is still involved with today. While she’ll admit that nothing compares to the adventure of being a parent to her two boys, her professional endeavors have come close. Working since she was 14, highlights include recurring extra work with Mighty Morphin Power Rangers (mentioned only at the insistence of Brooke) and nightclub management (where she started as a bouncer). A certified interpreter for the deaf with a strong background in Public Relations and communications, Romney believes these fields are the crux of where her talents lie and has achieved extensive local and national publicity for her clients, even taking one all the way to the White House where his accomplishments were recognized by the President. Today, Romney is the Program Director for ABILITY Awareness, a nonprofit organization dedicated to building a world of inclusion for people with disabilities, running her boutique brand management company Dilliant!, and loving the process of launching a company that is supporting amazing causes and providing an outlet for her entrepreneurial interests.
Romney and her business partner Brooke Fessler operate the online store, The Cause Shoppe:
The Cause Shoppe is a socially-conscious online shop that helps everyday consumers become philanthropists. We connect people with products and services that inspire awareness while supporting our local and global communities. In these trying economic times, buying PhilGoods™ offers opportunities for shoppers' purchases to have a greater purpose — supporting charities making vital change in our world. The site was officially launched December 2009 by founding partners Brooke Fessler and Romney Snyder with a few hundred favorite products and a promise to become the premier online site featuring PhilGoods™.
Go buy something from her store, The Cause Shoppe. You will pheel good about it.
Map presentation of income and housing data
The data shows income statistics and housing costs on a block-by-block basis. The data is very fine grained. For instance, the apartement complexes along Alton in Woodbridge show up as separate demographic neighborhoods where incomes and housing costs are quite low relative to the rest of town. The income desparity going across the loop is apparent too. The detail of the data is fantastic.
The areas still inflated to bubble price levels is apparent. The apartments on the Alton-Barranca corridor show the aggregate DTI renters are paying to live here. The numbers are quite high relative to national norms (look around the maps). The areas that have not deflated in value stand out too. The upper middle class is really getting a huge break by the banks refusing to foreclose. Plenty of squatting and sustained inflated values.
The disparity between renters and owners costs jumps out between these two graphics. Owners were putting 15% or more of their income toward housing than were renters in the same area. The owners DTIs are crushing. I wonder how many owners we are subsidizing with a loan modification?
There is so much to be learned from this information. I will talk to Zovall about exploring what we can do to work with this data at the IHB.
Housing Bubble News from Patrick.net
How We Get Ahead Now: Gaming the System (Charles Hugh Smith)
Foreclosures will be the wrecking ball for the American economy (theautomaticearth)
Housing and the Collapse of Upward Mobility (Charles Hugh Smith)
Irvine Home Address … 89 CANYON Crk Irvine, CA 92603
Resale Home Price … $8,888,888
Home Purchase Price … $8,200,000
Home Purchase Date …. 12/11/2009
Net Gain (Loss) ………. $155,555
Percent Change ………. 8.4%
Annual Appreciation … 19.5%
Cost of Ownership
$8,888,888 ………. Asking Price
$1,777,778 ………. 20% Down Conventional
5.16% …………… Mortgage Interest Rate
$7,111,110 ………. 30-Year Mortgage
$1,874,203 ………. Income Requirement
$38,872 ………. Monthly Mortgage Payment
$7704 ………. Property Tax
$800 ………. Special Taxes and Levies (Mello Roos)
$741 ………. Homeowners Insurance
$500 ………. Homeowners Association Fees
$48,617 ………. Monthly Cash Outlays
-$3361 ………. Tax Savings (% of Interest and Property Tax)
-$8295 ………. Equity Hidden in Payment
$3615 ………. Lost Income to Down Payment (net of taxes)
$1111 ………. Maintenance and Replacement Reserves
$41,687 ………. Monthly Cost of Ownership
Cash Acquisition Demands
$88,889 ………. Furnishing and Move In @1%
$88,889 ………. Closing Costs @1%
$71,111 ………… Interest Points @1% of Loan
$1,777,778 ………. Down Payment
$2,026,666 ………. Total Cash Costs
$639,000 ………… Emergency Cash Reserves
$2,665,666 ………. Total Savings Needed
Baths: 9 full 2 part baths
Home size: 13,500 sq ft
($658 / sq ft)
Lot Size: 27,852 sq ft
Year Built: 2008
Days on Market: 30
MLS Number: P727695
Property Type: Single Family, Residential
Community: Turtle Rock
Fabulous Santa Barbara Estate located in the exclusive golf community of Shady Canyon! This is your perfect home for entertaining! This home is light, bright and has 9 bedroom suites, 11 bathrooms and the 9 car garage has its own dedicated kitchen and it can be used as a ballroom for 100 people! The home is built around a center courtyard atrium with a 3 story waterfall. There is a total of 3 full kitchens, 1 butler's kitchen, 2 kitchenettes and 1 outdoor kitchen all with top of the line Viking Professional appliances. Huge game room, multiple bars, karaoke stage, pool table, theater, exercise room (with its own spa-sauna, jacuzzi, steam room, shower), wine room, dedicated laundry room, elevator, security system (wired for indoor and outdoor surveillance cameras), surround sound (wired for multi-media and Ipod docking stations), whole house purified drinking water system and much more.
I don't know that I have every seen a pool or snooker table quite so long and narrow. What is that? And check out the garage: