Monthly Archives: September 2013

Open House Review: 1 Delamesa East

1 Delamesa is a single story, zero lot line property that is move-in ready. Recent comparable sales in the same neighborhood sold at $620,000 ($468/square foot) and $625,000 ($472/square foot)at 32 Entrada and 27 West Lucero, respectively. Both of those properties were better located at ends of cul-de-sacs, but backing to a street with some traffic and appeared to need more upgrades. Is the higher price for Delamesa worth it?

Asking Price: $645,000

Bedrooms: 3

Bathrooms: 2

Square Footage: 1,325

Lot Size: 4,792sq ft

Price per Square Foot: $487

Property Type: Residential, Single Family

Style: One Level Craftsman

Year Built 1980

Community: Northwood, Park Paseo

HOA Fees: $85

Mello Roos: No

Days on Market: 11

This house has remodeled bathrooms, scraped ceilings, laminate flooring throughout, clean interior paint and new windows. The backyard has a newer fence bordering the neighbors, a built in bar-b-que and fire pit. The backyard backs to Hicks Canyon, and although it is not a major street, I could hear the random cars drive by. This house sits on a corner, with Hicks Canyon behind it, the entrance to Delamesa East and West on the side, and Delamesa East in front of it.

The front door leads into a rectangular shaped great room which consists of the living room (to the left), small dining room (to the right) and open kitchen with a breakfast bar. Straight ahead is a hallway leading to the bedrooms. The vaulted ceilings and large windows create an open, light feel. The kitchen has original cabinets that have been cleanly painted white. The countertops are updated with granite and there are plenty of cupboards, drawers and a pantry for storage. Stainless steel appliances have also been installed. One garage entrance is located in the kitchen. The dining room has a sliding glass door which leads to the side/front enclosed area.

Recessed lights and plantation shutters have been installed in the living room, and the room also has an updated fireplace. One entrance into the third bedroom (currently used as an office) is off of the living room. The double doors into the office could be dry-walled to create more of a private third bedroom, if desired. With the double entrance, one from the living room and one from the hallway, the third bedroom does not have a lot of wall space or privacy to be used as a bedroom. The room contains a small closet.

Adjacent to the current office is another bedroom which is similar in size with a window facing the backyard. The hall outside of the bedroom consists of a bathroom, small linen closet and coat closet. The bathroom has been completely remodeled with a large bathtub/shower combo, tile and vanity. The only lights I noticed that were original were located in the hallway leading back to the front door.

The master bedroom has vaulted ceilings, good closet space, a remodeled bathroom and a sliding glass door that leads to an enclosed small patio. Another garage entrance is found in the enclosed patio. The bathroom has double sinks and is separated from the toilet and bathtub/shower combo. There is no door in front of the vanity, so there may be light and noise in the mornings if another person is utilizing the area while the other is sleeping.

1 Delamesa has been upgraded nicely. It is clean, move-in ready and would appeal to buyers that are looking for a single story house in the neighborhood. However, the deciding factor would be the location. The streets do not have high traffic, but having traffic on three sides of the house should be considered. Is it worth the extra $20K to have a house with more updates, but in a higher traffic location?

Open House Review: 14 Gillman

Single Family ‘Retro’ Home in University Park

14 Gillman St. $739,990

Tucked away in a quiet neighborhood off of Michelson in University Park, 14 Gillman has been billed by the realtor as “retro.” However you choose to define it, original or retro, this single family 3 bedroom, 2 bath single family home is nicely positioned in a corner lot with a large front yard with mature shade trees.

How its position in the market plays out will be interesting to watch. When I was there numerous neighbors were trooping through the open house, remarking on things that they had done as updates to their homes.

Significant Numbers: Brand new to the market, this three bedroom, two bath home with 1,684 square feet has HOA dues of $123 a month and no Mello Roos. The location is close to the Association pool, spa, tennis court and park. The lot size is 6,098 sq. ft. and the $/ sq. ft. is $439. The home was built in 1965 and was called “Chancellor Plan 3.”

Close-Up: Stepping into the ceramic tiled entry there is a large living room with custom draperies and mirrored fireplace to the left, followed by a formal dining room, kitchen and family room that opens to a small but well maintained patio and backyard.

The kitchen is original with breakfast bar and desk. It sits opposite the family room, which could also be used as a dining area.

To the right of the entry a doored hallway leads to the three bedrooms including a good sized master suite with walk-in closet. With the bedrooms on one side of the home and the living room and dining room areas on the other, there is a comfortable division of entertainment and family areas.

The laundry is inside and the oversized double garage includes storage cabinets.

Specifics:

Single Family Home

Bedrooms, 3

Baths, 2

Detached, no common walls

Double garage

Central heat and air

Two parking spaces

Irvine Unified School System

Association pool and spa

What will be considered here? As a single family home on a secluded corner lot in University Park with top schools, and recreational facilities, plus a regional park, the price will be compared with other properties in neighboring communities in Irvine. Projections of what would be needed to upgrade the kitchen and baths will also come up for discussion.

Who will be the next ones moving into University Park? A young active family seeking the University Park setting might choose this home. Mature couples looking for a single level home in a quiet setting in Irvine might also be attracted.

Recent listings: 4472 Elm Tree Lane, $729,000; 6 Bayfield, $750,000.

Recent sales: 15 Gillman, $732,480; 2 Norton, $740,000.

Open House Review: 9 Blue Ridge

While most houses are selling pretty quickly right now, 9 Blue Ridge has been on the market for 90 days. Recent updates may help move the sale along; however, a few features may still leave buyers uncertain.

The basics:

Asking Price: $850,000

Bedrooms: 4

Bathrooms: 2.5

Square Footage: 2,710

Lot Size: 6,098

$/Sq Ft: $314

Days on Market: 90

Property Type: Single Family Home

Year Built: 1979

Community: Northwood

There are no HOA dues or Mello Roos.

Over the course of the 90 days, the price has dropped from 898,000 to 865,000 and now to the current price of $850,000. They also scraped ceilings, removed wallpaper and painted the entire interior.

Currently, the two car garage is carpeted and used as an office. It has wood-paneled walls. A storage area in the ceiling can be accessed from the bonus room above. For those wanting to keep the garage as is, there is also a covered carport located in the extra-wide driveway.

The entry hall is covered in very dated-looking tile that introduces the combination of old and new in the home. While some nice upgrades have been made, other parts of the home are still original. There are new windows downstairs and old ones upstairs. The kitchen is newer but the bathrooms are original.

From the entry, there is a family room to the right and a living room straight ahead. The family room has two large windows and a sliding door facing the side of the house. The carpet is in decent condition. A door leads to the laundry room (old flooring, no sink) and garage access.

The room flows directly to the kitchen, separated by a peninsula. There is space for a casual dining table between them with a chandelier above. The kitchen was updated 10 years ago. Corian counters, a tile backsplash and newer tile floors replaced the original tile. The cabinets were redone as well. White appliances include a four-burner stove in the peninsula, a trash compactor, a dishwasher and a double oven. There is a good-sized pantry and plenty of cabinet space. The garden window is the only downstairs window that wasn’t replaced.

A doorway at the back of the kitchen leads to the dining room, which is carpeted and has vaulted ceilings. It connects to the large living room, which runs across the back of the house. An old, brick fireplace anchors the living room with single French doors on either side. The carpet here is also in decent condition and, like the dining room, it has high ceilings. Both the living and family rooms are a couple of steps below the entry hall.

The lot is relatively large for the area at almost 6,100 square feet. The backyard is mostly paved, with a sloped, dirt-covered area at the back. There are very few plants and the whole thing looks really drab. A large crack runs across the cement and there is a weathered, wooden fence along one side. The Jacuzzi hasn’t been used in many years and the owners aren’t sure if it works, but it comes as-is.

The master bedroom is also downstairs. A double-door entry leads two steps down to the room. It is an average sized room with higher ceilings in some parts. A sliding door leads to the backyard, but it doesn’t get a lot of light, as there aren’t any additional windows.

The master bath has carpet around the sinks, which are set into an extremely long counter with numerous cabinets. Newer hardware, counters and cabinetry help give it an updated look. A large mirrored closet runs across from the sinks. One side has built-in shelving for linen storage; the other is a walk-in. At the back of the bathroom are the separate bathtub and shower. The tub is newer, but is surrounded by the original white tile that is also still in the shower. An odd, empty space sits in the corner between the tub and shower that seems to be a total waste. This portion of the bathroom can definitely use some work.

Upstairs, there are three bedrooms and a large, open bonus room. The carpet shows a little more wear upstairs and the original windows make it feel older. The bonus room has a ceiling fan and a small door that leads to the garage storage. It has a small nook in one corner.

The three bedrooms are comparable in size. Two have traditional, sliding door closets and one has a small walk-in. One has a higher ceiling. None are really remarkable in any way. The new paint brightens them up.

The upstairs bathroom looks pretty much as it did in 1979. There is newer hardware, but a seriously outdated floor and original cabinetry. It appears to be in good condition despite the old appearance.

Do you think the new price reflects the value of the house? Or, do you think the amount of work to do justifies an even lower price? At 90 days on the market, the owners don’t seem terribly motivated to sell and are probably waiting for the “perfect” offer.

Irvine Housing Overview: August 2013

According to Altos Research, the Market Action Index (MAI) for Irvine’s single-family housing market was 35.02 on September 13. That is down from the 37.21 MAI that was recorded about a month ago. The Irvine MAI made a steady climb upward starting at the first of the year but then started making a steady trend downward. However, as defined by Altos, this still puts the Irvine single-family housing market in the seller’s market category. (Above 30 is defined as a seller’s market; below is defined as a buyer’s market.) Altos also states that the average single-family home in Irvine has been on the market for about 65 days as of September 13, 2013.

Following is Irvine’s August 2013 housing market data as provided by Redfin.

Type List Price/# Homes Listed Sold Price/# Homes Sold List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Houses
13-Aug $1,075K/235 $908K/114 $459 $406 17.70%
13-Jul $1,125K/210 $900K/122 $459 $435 16.90%
13-Jun $1,112K/186 $855K/99 $462 $414 16%
13-May $1,030/167 $890/113 $457 $411 21.60%
13-Apr n/a n/a n/a n/a n/a
13-Mar $1,020K/101 $904K/62 $443 $381 13.40%
13-Feb na/109 na/272 $415 $354 n/a
13-Jan na/113 na/274 $409 $357 n/a
Condos
13-Aug $590K/295 $564K/146 $406 $384 24.30%
13-Jul $588K/295 $522K/135 $416 $394 28.80%
13-Jun $585K/235 $540K/130 $418 $391 24.90%
13-May $599K/177 $539K/144 $406 $386 30.40%
13-Apr n/a n/a n/a n/a n/a
13-Mar $570K/111 $476K/88 $375 $344 21.60%
13-Feb na/100 na/301 $369 $325 n/a
13-Jan na/106 na/324 $377 $327 n/a
All
13-Aug $710K/579 $660K/278 $418 $389 18.20%
13-Jul $709K/545 $659K/283 $423 $401 24.10%
13-Jun $734K/456 $638K/249 $422 $395 20.80%
13-May $750K/371 $659K/274 $416 $393 26.80%
13-Apr n/a n/a n/a n/a n/a
13-Mar $703K/219 $588K/151 $392 $359 18.90%
13-Feb na/209 na/573 $389 $334 n/a
13-Jan na/219 na/598 $389 $338 n/a

Open House Review: 25 Canyon Ridge

Newly Remodeled Turtle Rock Condo with Salt Water Pool

25 Canyon Ridge, #56 $1,100,000

Turning off of Turtle Rock Drive onto Starcrest takes you to a secluded neighborhood in a quiet cul-de-sac. Walking up the steps and entering the condo at 25 Canyon Ridge, #56 you will find a newly remodeled, pristine home overlooking a spacious saltwater pool and spa in one of the largest lots in the tract.

Significant Numbers: This three bedroom, two full bath condominium has 2,200 sq. ft. There is no Mello Roos. There is one common wall attached. It was built in 1977 and the lot size is 5,000 sq. ft. HOA dues are $130. Price per square foot is $500.

Close-Up: Nicely done in every detail, the large living room to the left of the entry leads to the kitchen and formal dining room overlooking the patio, pool and spa. The home has been carefully staged to emphasize its assets, both as a family retreat and an entertainer’s haven. The open floor plan works with split levels and the expansive outdoor area.

Downstairs, there is an exercise room and bath and laundry room. Upstairs a master suite includes a special soundproof wall, custom bath and a private deck with a partial view of mountains and city lights.

Throughout the home attention to detail shows up, in freshly painted subtle colors, skylights, interior lighting, shutters, new molding and baseboards, travertine tile and carpet.

The kitchen pairs perfectly with the dining room with a bay window view of the pool, stainless appliances and granite counters including a breakfast bar.

The garage is spotless with built-in cabinets and there are double paned windows throughout the home.

Specifics:

Bedrooms, 3

Baths 2 full

Double attached garage

Inside laundry

Heating electric

Central air

Attached, one common wall

Two parking spaces

Irvine Unified School District

What will be considered here? The usual questions of condo versus single family, the key location in a secluded area of Turtle Rock, and the numerous upgrades in the recent remodeling will all be considered here. The lot size coupled with the private saltwater pool and spa will also be noted.

Who will be the next ones sampling the saltwater pool? An active family, or a professional couple who entertain a lot like and want a perfect Irvine location might consider this home. Turtle Rock’s top schools and parks will attract an assortment of buyers too.

Recent listings: 52 Tidewind, $1,049,000; 16 Whitney, $940,000