Doubling in Northwood Pointe

If somebody had offered me to give me more than double of my investment in seven years, or at least double it in twelve years, recession notwithstanding, I would have scoffed at the idea. But that’s exactly what two real estate investments have paid off in Northwood. From their initial price of around $600k in 1999/2000, both have managed to climb steadily to their offered price around $1.4 million today.

14 ARBORWOOD, IRVINE CA 92602

Beds: 5

Baths: 3.5

Area: 3,700 SF

Price/SF: $378

Lot Size: 7,172 Sq. Ft.

Year Built: 2000

Builders Tract Name: Somerton

Builders Tract Code: SOMT

Builders Model Code: 3

Property Type:Residential, Single Family

Style:Two Level, Mediterranean

View:Orchard/Grove, Pasture, Trees/Woods

Community: Northwood County

Sales History:

Jul 09, 2012 Listed (Active) $1,399,900

Jan 29, 2007 Sold (Public Records) $1,450,000

Sep 29, 2000 Sold (Public Records) $601,000

Monthly expenses:

Mortgage: $5029

Home Owner’s Association: $150

Property Tax + Mello Roos: $1265 Monthly ($15,178 Annually)

Fixed Monthly Expenses: $6444

9 GARNET, IRVINE CA 92602

Beds: 4

Baths: 3.75

Area: 3,700 SF

Price/SF: $386

HOA Dues: $156/month

Lot Size: 6,200 Sq. Ft.

Year Built: 1999

Builders Tract Name: Somerton

Builders Tract Code: SOMT

Builders Model Code: 4

Property Type:Residential, Single Family

Style:Two Level, Mediterranean

Community: Northwood

Sales history:

Jul 25, 2012 Listed (Active) $1,429,000

Jun 01, 2007 Sold (Public Records) $1,650,000

Sep 10, 1999 Sold (Public Records) $600,000

Monthly expenses:

Mortgage: $5,133

Home Owner’s Association: $156

Property Tax + Mello Roos: $1288 Monthly ($15,450 Annually)

Fixed Monthly Expense: $6577

My view:

A few hundred here, and a few hundred in monthly expenses do not make a difference for a buyer of these properties, but the floor plan does. Both the houses are beautifully upgraded and maintained. But 9 Garnet with it’s grand staircase steals the show.

Which one would you buy?

Do you look for elements of grandeur when you spend more than a million on the house?

Discuss below or on Talk Irvine.

One thought on “Doubling in Northwood Pointe

  1. John Wingate

    Sweet home!

    I was just talking to someone about a home today in Northern California and the pricing of the homes have dropped!

    She bought a home 2 years ago for $350,000 and with her renovations it is on the market for $450,000. A sweet turn around but living in Maryland we are still staying steady. We hope to turn things around here in the nest year or so.

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