I am tinkering with the post data. Help me out if you can.

Asking Price: $499,000
Address: 118 Winslow Ln Irvine, CA 92620

(you should know better)
Dream of better lives the kind which never hate
(you should see why)
Dropped in the state of imaginary grace
(you should know better)
I made a pilgrimage to save this humans race
(you should see why)
What Im comprehending a race that long gone bye

The futures open wide

Melt With You — Modern English

Does anyone remember the movie “Valley Girl?”

English music was much more popular in the 80s.

Post Layout

I am experimenting with the post layout and information. I am only working with 3 inputs: asking price, previous sale price and
the date of previous sale, so there is a limit to what I can do.

I developed a template I use to compile the property data and display it consistently with the least amount of work. For over two years, I did every calculation by hand — that was stupid. Hopefully, there will be fewer post errors.

I am introducing a few new lines to the typical post analysis. Since the point of these posts is not always to display a shocking loss — it is hard to shock anyone who has been reading a while — I am showing the profit or loss from the transaction as part of the data. I may mention it again if it is integral to the story of the day, but the information will be there if anyone is interested.

I am also showing the percentage change during the period of ownership and the annualized rate of appreciation or depreciation as the case may be. This is calculated by (1) taking the annualized appreciation, (2) dividing by the total number of days of ownership and (3) dividing by 365.25 to convert to years.

I have been having an internal debate if it is better to calculate this based on the raw numbers or if the transaction costs should be included. The total gain or loss is net of commissions. The percentage change and the annualized appreciation is gross. This does overstate the actual return net of commissions and fees, but it is accurate to the numbers presented.

I am also thinking about tinkering with the income data. I can create a formula that changes the income requirement based on current interest rates and other assumptions. This may be more useful, and it will certainly be more accurate.

For instance, for this post, I have used an income requirement that assumes 28% of income will be going to a conventional mortgage payment at 5.25% interest rates. As interest rates go up or down, the income requirement will change accordingly. This should be a close approximation to traditional lending standards applied to current interest rates.

Let me know what you think.

Asking Price: $499,000

Income Requirement: $94,474
Downpayment Needed: $99,800

Purchase Price: $204,000
Purchase Date: 7/24/1998

Gain (Loss) after 6% Commission: $265,060
Percent Change: 144.6%
Annualized Appreciation: 13.0%

Address: 118 Winslow Ln Irvine, CA 92620

Beds: 3
Baths: 3
Sq. Ft.: 1,340
$/Sq. Ft.: $372
Lot Size: 1,769 Sq. Ft.
Property Type: Single Family Residence
Style: Cape Cod
Stories: 2
View: Courtyard
Year Built: 1998
Community: Northwood
County: Orange
MLS#: U9003959
Source: SoCalMLS
Status: Active
On Redfin: 1 day
Georgeous 3 bdrm, 2.5 bath home in prestious Northwood Pointe tract. Quiet cul-de-sac location. Dramatic high vaulted ceilings. French and dutch doors. Fire place and formal dining room. Large chefs kitchen. Custom paint and window coverings throughout. Surround sound and security system. Large master suite with large bath and walk in closet. Private brick patio. Completely finished garage with storage and work bench. Lowest priced 3 bedroom, 2.5 bath detached in Northwood.

I like the houses in this neighborhood, but the prices there are simply ridiculous.

I am a fan of the single-story homes built in the 70s. When I am ready to buy, I will take a good look at properties like this one.

Asking Price: $659,000

Address: 29 Morning Dove Irvine, CA 92604

{book4}

Adventure seeker on an empty street,

I want it all, and I want it now,

I Want It All — Queen

As I have stated before, I do not plan on buying in this market environment, but I see properties I would like to own all the time. Today's featured property has many of the characteristics I want in a home in Irvine.

I like Woodbridge, particularly the north side inside the loop near the lake. This property is outside the loop, but it is in one of the few areas outside the loop built out as single-family detached homes. The walk to a really nice park with a large pool is less than 100 yards (there is a path between two houses).

The house is on a corner lot, and although it is near enough to get road noise from the arterial streets, it does not back onto them (Woodbridge has more road noise from the arterials than other Villages because there is no wall. The hedge is useless.) I give it a "B" for location within Irvine.

I like this single-story floorplan. At a little over 1,500 SF, it isn't huge, but it is large enough to comfortably accommodate a family. This floorplan and the many variations of it have been built in Woodbridge and the communities to the north that were constructed in the 70s.

I am not sure when the plan was last built, but it isn't likely to ever be built again because it probably does not meet current fire codes. The exit from the master bedroom is a window onto an atrium space. These spaces are often enclosed by later construction leaving no secondary point of egress from the master bedroom. I doubt this is still allowed.

Single-story homes become more desirable with age. There are not many retired people living in the three-story condos popping up in the new Villages. A smaller home like this one can accommodate a young family as well as a retired couple. If you go through your life cycle without buying the McMansion, you could live in a house like this for life.

One of my favorite features in the house is this seating area off the main living room. I would use this space. I don't watch much TV, but I do read many books and work on the computer. In the evenings, I would hang out in here with a book or a laptop and be very comfortable. Late night, when the house is quiet, this would be a great place to unwind and enjoy the fire.

I must be a throwback to the 70s. I find utility in this space that disappeared from home design 30 years ago. Perhaps if I get one of these houses, we can have an IHB fondue party on my new whisky barrel table.

After dining, we can kick back in the groovy living room.

We can play some albums or spin a few 45s…

Then play video games…

Asking Price: $659,000

Income Requirement: $164,750

Downpayment Needed: $131,800

Purchase Price: unknown

Purchase Date: 8/21/1984

Address: 29 Morning Dove Irvine, CA 92604

Beds: 3

Baths: 2

Sq. Ft.: 1,538

$/Sq. Ft.: $428

Lot Size: 5,452 Sq. Ft.

Property Type: Single Family Residence

Style: Contemporary, Ranch

Stories: 1

Year Built: 1977

Community: Woodbridge

County: Orange

MLS#: S587361

Source: SoCalMLS

Status: Active

On Redfin: 7 day

This is the home you have been waiting for . Beautiful single level home in a fabulous corner location with upgrades galore…new paint, carpet, scraped ceilings, wide crown mouldings, recessed lights, new steel roof and the list goes on. The kitchen has been totally remodeled with white cabinets, granite counters, stainless steel sink and added pantry with pull out shelves. The family room is adjoining the kitchen and has wall of glass and built-in entertainment center with frosted glass fronts. The back yard is very private and features flagstone laced patio with patio cover and built-in BBQ. Run, dont walk… this home wont last long!!!

Run, dont walk… this home wont last long!!! Silly me, I was going to drive, but if running is better…

These homeowners have been in this house for 25 years. Do you think they paid off their mortgage? The property records show $544,000 worth of first and second mortgages — no HELOCs. They already spent their house.

I want that one — Little Britain

I want that one — Little Britain