Monthly Archives: June 2012

Open House Review: 8 Brena

It is rare to come across a six bedroom home under $1,000,000, but I found one today at 8 Brena. While the house originally had four bedrooms and a bonus room, the bonus was converted into two additional bedrooms. Having been in the original floor plan numerous times, I was excited to see how this one was changed.

The basics:

Asking Price: $949,900

Bedrooms: 6

Bathrooms: 4

Square Footage: 2,955

Lot Size: 5,000

$/Sq Ft: $321

Property Type: Single Family Home

Year Built: 1978

Community: Northwood, Woodside

HOA dues are $97 per month and there are no Mello Roos.

Upon entering, the living room is to the right and the dining room to the left. Both are pretty standard for a late 70’s home. They are nice rooms, but don’t really have anything remarkable about them. The kitchen is through the dining room and has been nicely remodeled. There are granite countertops, stainless steel appliances, updated cabinets and a newer tile floor. While the kitchen doesn’t have a built-in island, the current owners have a free standing butcher block in the center of the kitchen to provide extra counter and storage space. It makes a nice addition. The kitchen also has a breakfast nook surrounded by windows that look out to the backyard.

The yard is fully hardscaped, but is a good size and has a gate out to the greenbelt. The home is located just steps from the bridge that connects to the Hicks Canyon trail.

Also downstairs is a pretty family room with hardwood floors. A bar area was converted to an office space, which is much more functional and modern. Beyond the family room is a downstairs bedroom. This one is on the smaller side and rather dark, as it only has one small window facing the house next door. The closet doors have been removed and replaced with large, dark, heavy curtains. There is a full bath across from the room, but it hasn’t been updated.

Upstairs there are five rooms. One room currently doesn’t have a closet or doors to the hallway (curtains separate the room from the hall), but it could easily be converted back to a standard bedroom. While there used to be a full bathroom off the hallway, it has been converted so it’s now inside one of the bedrooms. While it’s nice to have another en suite bathroom, I like to have at least one bathroom accessible from the hallway. Again, this bathroom has not been updated. The room it’s attached to is good size with a ceiling fan and mirrored closet.

As I mentioned earlier, the bonus room was converted into two additional bedrooms with a Jack and Jill bathroom. Both bedrooms are a good size, with mirrored closets, high ceilings, and a lofted storage space. The connecting bathroom has two separate pedestal sinks and, while it’s newer than the other bathrooms in the house, it still seems old and in need of updating.

The last room upstairs is the master bedroom. It has a fireplace and a gorgeous view of the greenbelt and Hicks Canyon trail. It has two large mirrored closets, two sinks, and a separate tub and shower. The bathroom has not been remodeled.

The carpets upstairs had many visible stains and dark spots, with the exception of the master bedroom, where the carpet was newer. That, along with the older bathrooms, gives the house a bit of a tired feel. While the kitchen and family room are both nicely redone, the other rooms don’t match up. However, though it could be nicer, it certainly can be lived in and a family could move in today without making any of the changes.

I don’t think it’s as nice inside as the other two homes of the same model that have recently sold (23 Alegria for $850,000 last month and 31 Abeto for $912,000 in early 2011). The asking price of $949,900 is too high. This home does have one more bathroom than the others, and two additional bedrooms instead of a bonus room, but it needs more work than the others, which both had fully remodeled bathrooms and newer floors and carpet throughout. Overall, it’s a great floor plan and would be a wonderful home for a large family, but the price needs to come down so the extra money can be put into new carpet and remodeling all four bathrooms. I’m very curious to see what this one sells for as compared to the other two.

Discuss below or on Talk Irvine.

IRWD Water Rate Will Increase in July – Why?

“Over the past five years, imported water costs have increased approximately 65%.”—Orange County 2011 Community Indicators Report (http://www.ocsd.org/vgnfiles/ocgov/Community%20Investment/Docs/OCWIB/Calendar_Documents/2011CommunityIndicatorsB.pdf)

“Water is heavy (62.4 pounds per cubic foot) and tends to resist moving uphill. It takes a lot of energy to move water, but also to treat it, and then treat it again after we use it.”—19 Percent: The Great Water-Power Wake-Up Call,” KQED (http://blogs.kqed.org/climatewatch/2012/06/10/19-percent-californias-great-water-power-wake-up-call/)

“We’re also developing alternate waste supply strategies to further reduce the need for costly imported water.”—Beth Beeman, IRWD Director of Public Affairs

Starting July 1, rates for customers of the Irvine Ranch Water District (IRWD) will increase by .02cents per one hundred cubic feet of water. In addition, the service charge will increase by 55 cents. You might think that this is due to the recent snow pack level which was only 40% of normal. However, reports are stating that this year’s water supply is adequate since last year’s snow pack was well above normal.

So, if water supply is adequate, why are the water rates increasing? Approximately, two-thirds of the IRWD water is from local sources such as ground water wells, reservoirs, and recycled runoff. However, the other third is imported water that IRWD purchases from the Municipal Water District of Orange County (MWDOC). MWDOC purchases this water from Metropolitan Water District of Southern Californian (MWD). The infrastructure cost associated with this imported water is the primary reason given for the need to increase IRWD water bills.

MWD gets it water from the Colorado River or the State Water Project. The Colorado River aqueduct, which is needed to transport the Colorado River water to southern California, was built in 1939, and the State Water Project system, which transports water from the northern California delta and the Sierra snowmelt by means of the California aqueduct, is out of date. Both these systems are in need of infrastructure updating. For example, the bay delta system, which is just a portion of the State Water Project system, is anticipated to need an estimated $27.8 billion in retrofits.

In addition, IRWD is responsible for maintaining 1,500 miles of pipelines, 53 reservoirs, and two wastewater treatment plants. Over 40% of MWD facilities are over 60 years old and need repair or replacement. For example, Yorba Linda’s Diemer water treatment plant, built in 1963, and La Verne’s Weymouth treatment plant, completed in 1940, are scheduled for $143 million in retrofits in the next two years.

IRWD was criticized by a recent grand jury for holding too much money in reserves ($225 million). However, Beth Beeman, IRWD director of public affairs, said, “These are not reserves.” Beeman also said, “That money is designated for infrastructure maintenance and improvements that will be needed in the future. It’s like putting money away for your kid’s college. It’s there when you need it.”

Sources:

“Water rate hikes could be worst,” Tina Richards, Foothills Sentry (http://www.foothillssentry.com/)

Irvine Ranch Water District (IRWD) (http://www.irwd.com/)

Metropolitan Water District of Southern California (http://www.mwdh2o.com/mwdh2o/pages/yourwater/plants/weymouth01.html)

The Metropolitan Water District of Southern California, Robert B. Diemer Water Treatment Plant Update (http://www.mwdh2o.com/mwdh2o/pages/news/at_a_glance/New_DiemerFS.pdf)

Discuss below or on Talk Irvine.

Open House Review: 243 Terra Cotta

Condo Contrasts on Quail Hill 243 Terra Cotta, $769,000

As I exited the San Diego Freeway and made my way up Quail Hill my first impression was how remarkable the contrasts are in this community. Moving off the packed lanes of the San Diego Freeway, I drove past rolling open fields, and then approached the door of a sleek condominium at the end of a quiet cul de sac.

For some this could be the best of several worlds. Quail Hill offers access to 600 acres of permanent open space with first rate hiking trails, the convenience and ease of upscale condos or homes, and quick freeway access to work, entertainment and other nature and art communities like Laguna Canyon.

Quail Hill has over 1,650 homes and condos in a secluded community with pools, shopping, outdoor fireplaces, tennis courts, playgrounds and Irvine’s quality schools. At the foot of Quail Hill, the 2.8-acre Quail Hill Trailhead connects to southern Irvine’s extensive trail network. Located at the end of Sand Canyon Road it marks the beginning of the Quail Hill Loop Trail, an easy two-mile natural surface trail open to the public from dawn to dusk. Check the Irvine Natural Landmarks website for more nature trail information.

Inside 243 Terra Cotta I found all the flair and function of a well planned condo. This detached and dramatic condo is a nice contrast to its rustic surroundings. As you enter, to the left there is a small but impressive formal dining room. To the right the living room is contained but quite dramatic. The high ceilings, designer draperies and rich colors all work well with plantation shutters, ceramic tile, wood and carpet floor areas. The multiple window and balcony views are beautifully treated with faux draperies.

Over $86K in custom upgrades by the previous owner have resulted in a sparkling gourmet kitchen with granite counters, island, and walk-in pantry, plus a remodeled master and guest baths with dual granite vanities and stone sinks.

Moving down the main hall. which really serves as the spine of the house, the kitchen is on the left with a small family room on the right. Upstairs the master bedroom and bath echo the downstairs theme with designer draperies and rich colors. There are three bedrooms and two baths with a loft, optional for a fourth bedroom, and laundry room upstairs.

Private outside space is snug, but the closeness to the rolling fields beyond is a particular delight on the patio at the end entrance. One has the feeling some morning as you sit there and sip your coffee you might look up to find a jackrabbit watching your every move. Just a few feet from the patio, the open grillwork fence frames the green fields. The front patio is equally inviting, small but comfortable, nice for relaxing, great for summer suppers, or late night astronomy sessions.

There is a double garage with an epoxy floor, and 2 more parking spaces are available.

Specifics for this 2 Level Modern Condo:

Beds: 3

Baths: 2.5

Sq.Ft: 2,100

$/Sq.Ft: $366

Common Walls Detached/No Common Walls

Cooling: Central A/C

Wood Fire Place/Gas

Garage Spaces Total 2, 2 parking spaces

Heating Type: Forced Air

Association Pool

Roofing: Spanish Clay Tile

HOA Dues: $220

Mello Roos Tax: Yes

Considerations and Comparisons: The floor plan is efficient and functional, but for some the space may feel a bit confined. Outdoor private space is limited, but nicely balanced with the closeness of the open rolling fields and the quiet end position in the cul de sac. On June 4 the price was reduced $5,900. In 2008 the property sold for $843.000. Nearby properties for sale: 127 Tall Oak condo is listed at $669,000 with 3 bedrooms and 2.25 baths, 91 Canopy is listed at $749,000 with 3 bedrooms and 2.5 baths.

Who will be the next occupant? A small family who likes to hike and explore nature and values quality schools could be happy here. A professional couple or an individual who spends weekends outdoors and wants quick access to work, entertainment, and dining spots will find this condo very workable. Another couple or family who works or spends time in Laguna Canyon and other coastal spots might be comfortable here.

Discuss below or on Talk Irvine.

Kings of their domain

Is it enough if a school has a API rank of 10, or do growth scores govern the home prices of the school’s boundaries? Today we look at two properties in two different villages of Irvine. Both have API 10 schools, but one has better growth rate than the other. Both properties have a good walk score to the assigned schools. But for the same listing price, one of them has listed a single family home with four bedrooms and the other one is a detached condominium with three bedrooms.

10 MINERAL KING, IRVINE CA 92602

Listing Price: $699,800

Beds: 4

Baths: 2.5

Sq. Ft.: 2,477

$/Sq. Ft.: $283

Property Type: Residential, Single Family

Style: Two Level, Other

Year Built: 2000

Community: North Park

Builders Tract Name: Evergreen

Builders Tract Code: EVRG

Builders Model Code: 4

Monthly expenses:

HOA Dues: $328/month ($183+$145)

Property Tax ( 1.0595%): $ 7,414 Annually

Mello Roos: $1,631 Annually

Monthly Property Tax+ Mello Roos: $754

Monthly Mortgage (30 YR Fixed, 3.625%): $2,553

Pricing History:

Jun 04, 2012 Price Changed $699,800

Feb 21, 2008 Sold (Public Records) $700,000

Feb 27, 2006 Sold (Public Records) $875,000

Mar 13, 2002 Sold (Public Records) $472,000

Jun 30, 2000 Sold (Public Records) $406,500

Monthly Fixed Expenses: $3,635

In the North Park area, there were 53 homes for sale in May 2012, with a median list price of $799,000 ($321/SF). The most expensive property on the market in North Park is 39 Vacaville at $1,499,000. The least expensive property on the market is 305 Terra Bella at $315,000. Even though the house comes under Tustin Unified School District, it has excellent schools.

Assigned schools:

Hicks Canyon Elementary (K-5)

API rank 10

API Score of 942

Orchard Hills (Middle School 5-7 for 2011, K-8 planned)

API rank 10

API score of 952

Arnold Beckman High School (9-12)

API rank 10

API score of 866

154 KINGSWOOD #117, IRVINE CA 92620

Listing Price: $685,000

Beds: 3

Baths: 2.5

Sq. Ft.: 1700

$/Sq. Ft.: $403

Property Type: Residential, Condominium

Style: Two Level, Other

Year Built: 2001

Community: Northwood

Builders Tract Name: Arden Square

Builders Tract Code: ARDS

Builders Model Code: 1

Monthly expenses:

HOA Dues: $118/month ($78+$40)

Property Tax ( 1.0595%): $ 7,258 Annually

Mello Roos: $2,481 Annually

Monthly Property Tax+ Mello Roos: $812

Monthly Mortgage (30 YR Fixed, 3.625%): $2,499

Pricing History:

Apr 19, 2012 Listed (Active) $685,000

Nov 12, 2004 Sold (Public Records) $620,000

Monthly Fixed Expenses: $3,429

In the Northwood area, there were 103 homes for sale with a median list price of $739,000 ($333/SF). The most expensive property for sale in this zip code is 75 New Dawn at $1,829,000, and the least expensive property is 2118 Timberwood at $265,000. Northwood homes also have the best Irvine schools. Irvine School District recommends calling the district office to confirm the schools, but these are the tentatively assigned schools for the property.

Canyon View Elementary

API Rank: 10

API Growth: 966

Sierra Vista Middle School

API Rank: 10

API Growth: 948

Northwood High School

API Rank: 10

API Growth: 908

Which one would you buy?

If both the houses are built around the same time, and both are in safe/ non-hazardous areas, would a ‘better’ school force you to buy a smaller detached condo vs. a single family home?

Is $400+/SF price justified for the Northwood condos?

Discuss below or on Talk Irvine.

Open House Review: 6 Urbino

This week, I decided to check out an older house with lots of upgrades to see how it compared to the newer homes I have seen recently. I went to 6 Urbino in the Windstream neighborhood in Northwood. The homes in Windstream are among the biggest and nicest in the older part of Northwood.

The basics:

Asking Price: $948,888

Bedrooms: 4 + Large Bonus Room

Bathrooms: 2.5

Square Footage: 3,268

Lot Size: 5,500

$/Sq Ft: $290

Property Type: Single Family Home

Year Built: 1979

Community: Northwood, Windstream

HOA dues are $174 per month and there are no Mello Roos.

Leading up to the home is a pretty walkway with bright flowers and a nice overhang. I entered the house and was met with dark wood floors and a larger than expected living room. This model originally had a small retreat area within the living room that was a few steps lower than the rest of the room. In 6 Urbino, the area was filled in to create one large room. The house flows much better this way and I think it creates more uses for the space. They also filled in a garden area under the stairs to create additional storage and a small nook (big enough for a table but not for a sitting area). I really liked these changes and think they make the space feel much more modern.

The dining room is adjacent to the living room and has French doors leading out to the backyard. The backyard is fully hardscaped, with an in-ground jacuzzi, built-in BBQ and an island with seating for six.

The kitchen is behind the dining room and was beautifully remodeled in 2002. It has a small island, with room to seat two, stainless steel appliances and lots of counter space. A garden window looks out to the backyard and brings in a lot of light. It is an eat-in kitchen with room for a table of six. Beside the table are additional built-in cupboards with counter space and a wine rack. This is a great use of the space.

As I moved through to the family room, I saw that they had created a space for a built in desk. I really liked this feature, as I always wish I had a good place downstairs to collect mail, bills, and more. The family room has tile floors, a fireplace, and a built-in unit with cabinets on the bottom and shelving with glass doors on top.

Upstairs, all the rooms come off one long hallway. At one end is a bonus room; at the other is the master bedroom. The bonus room is a big, square room that can be used for pretty much anything. It is just a big open space with hardwood floors, a high ceiling, and several windows.

The master bedroom has a small retreat in it, just a few steps down from the main part of the room. It is the perfect set up for a small office, reading nook, or even a fitness area. The master bath was nicely redone with two sinks separated by a vanity, a large tub, and an average-sized shower. There are two mirrored closets, one with three doors and the other with two.

All three secondary bedrooms are a good size. None has a private bath, but they share a nice bathroom with two sinks and a shower/tub combo separated by a door. Each bedroom has a standard closet.

The home features three fireplaces, downstairs laundry room (with a laundry chute upstairs), recessed lighting and ceiling fans in most rooms.

Overall, I really liked the upgrades on the home. Everything seems to be very well maintained and the rooms are all very spacious. While it lacks some of the special touches of newer homes like arched doorways and rounded corners on the walls, it does have crown molding, granite counters and hardwood floors. It also comes with a lower price tag and no Mello Roos.

Discuss below or on Talk Irvine.