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Irvine Housing Overview: Condos and Houses—June 2014

Jul 30th, 2014 by Sylvia Walker 

Below are numbers provided by Redfin for Irvine’s June housing market. The numbers are broken down so that the statistics for condos and houses can be seen. As has been true for recent months, the number of homes on the market in Irvine during June is continuing to rise. However, the number of homes sold shows a more mixed outcome.

Also note that Altos Research states that the Market Action Index (MAI) for Irvine’s single-family housing market was 35.82 on July 25, 2014. According to Altos, above 30 indicates a sellers’ market, below 30 indicates a buyers’ market.

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Posted in News

Open House Review: 11 Glenhurst

Jul 29th, 2014 by SMS 

Woodbridge Upgraded Townhome in Outer Loop
11 Glenhurst #8  $614,900

Turning off of East Yale Loop onto Briarwood takes you to this two level, end unit, 3 bedroom, 2.5 bath townhome on Glenhurst.  In June it was listed for $628,888. Now on the market just over 40 days, the price has been reduced to $614,900.  Over the weekend the home was attracting a fair amount of traffic with people lingering to ask questions. The home’s closeness to the lake and sleek upgrades will be noted.  

Significant Numbers: Built in 1979, this 1,601 sq. foot, two level townhome is $384 a sq. ft.  HOA dues are $348 a month.

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Open House Review: 14 Delamesa West

Jul 28th, 2014 by Joy 

Today I saw a two level, 4 bedrooms and 2 ½ bathroom home.  It is nicely located on a quiet cul-de-sac street with Santiago Hills Elementary School’s green soccer fields just a few steps away at the end of the cul-de-sac.  In March I reviewed the same model at 2 Entrada West.  This home’s location is far superior to Entrada West’s although it is not as upgraded.  2 Entrada West ended up selling in May for $392 per square foot at $817,500.

 

The basics:
Asking Price: $843,888
Bedrooms: 4
Bathrooms: 2.5
Square Footage: 2,088
Lot Size: 4,357
$/Sq Ft: $404
Days on Market: 24
Property Type: Single Family Residence
Year Built: 1976
Community: Northwood – Park Paseo

HOA dues are $85 per month and there no are Mello Roos taxes.

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Open House Review: 2 Christamon East

Jul 25th, 2014 by Joy 

Today I saw a two level home featuring 4 bedrooms plus a loft.  2 Christamon East is located in Northwood’s Park Paseo Community.  It sits on the corner entrance of a cul-de-sac with three streets surrounding it and is the only model with an open loft.  The backyard backs to Park Place (a non-residential street) with the entrance to Christamon on its side, and Christamon East in front of the home. 

Asking Price: $924,888
Bedrooms: 4
Bathrooms: 2.5
Square Footage: 2,474
Lot Size: 4,356
$/Sq Ft: $374
Days on Market: 13
Property Type: Single Family Residence
Year Built: 1978
Community: Northwood – Park Paseo

HOA dues are $89 per month and there are no Mello Roos taxes.

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Do the Top Five Trends in Today’s Real Estate Market Apply to Irvine?

Jul 24th, 2014 by Sylvia Walker 

“The Healthy City Healthy Planet initiative is an affirmation of Irvine’s long-held commitment to health, fitness, well-being and the sustainability of our community.

Through the integration of multiple practices into all aspects of City planning and the delivery of municipal services, we are actively supporting the health of our City, our citizens and our planet on a daily basis."City of Irvine, Healthy City Healthy Planet webpage

Now and then, it is helpful to zoom out and take a look at the larger picture. And then zoom back in to see how that applies at home. That is what we are going to do in today’s post. We are going to take a look at what panelists and speakers at the 48th conference of National Association of Real Estate Editors said are the top five trends in today’s real estate market. They point out that being aware of these trends and adjusting your buying or selling strategy to take advantage of these trends will be beneficial whether you are planning on being a buyer or seller in today’s real estate market.

You can answer for yourself if you think that these trends apply to Irvine’s current real estate market—and, if Irvine is a healthy city that contributes to a healthy planet.

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Posted in News

Open House Review: 18845 Tabor Drive

Jul 23rd, 2014 by SMS 

Newly Renovated Detached Single Family Turtle Rock Home
18845 Tabor Drive   $1,249,000

Turning off of Turtle Rock Drive onto Grossmont takes you back to Tabor Drive which sits near Culver in this prime neighborhood. But more interesting than the location is the transition history of this 4 bedroom, 2 bath single family home.  According to public records, the home sold in June, 2014 for $912,000. It is now back on the market (about 10 days) at $1,249,000.  From 2007 to 2014 the property was listed, delisted, and had a pending sale in February, 2014 that did not go through.  Now potential buyers will be weighing the new renovation as a finished package against the new price.

Significant Numbers: Built in 1968, this single level 4 bedroom, 2 bath home is 1,800 sq. ft. on a 5,663 sq. ft. lot at $694 a sq. ft.  HOA dues are $25 a month. The broker/owner said the whole home and outside areas had been renovated.   

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A Review of the Terrazza Tract in Orchard Hills

Jul 22nd, 2014 by Karen 

This week, I will review the Terrazza homes in Orchard Hills.  They are the second largest on the Orchard Hills II side, but the fourth smallest in all of Orchard Hills (the seven larger collections are in the gated Groves area).  Like all homes on this side of Culver, Terrazza was built by Irvine Pacific.  The homes all have four bedrooms, including a main floor bedroom, and range from 3-4 bathrooms.  Each home also has a loft.  They range from 1,981 – 2,408 square feet.  Each home has a two car garage, some with an additional storage area.  Terrazza only has two different models, though Residence Two has a slight variation known as Two X, which is always on a corner.

Some of the standard amenities in all homes include Kitchenaid stainless steel appliance package, including cooktop, oven, microwave, dishwasher and hood; white satin Thermofoil cabinets with adjustable shelves; granite slab kitchen counters with 6-inch backsplash and full backsplash at cooktop; stainless steel double basin sink with Kohler pull-out faucet; master bath with a sterling tub with 6” x 6” tile surround and separate shower; dual Kohler undermount sinks with marble countertops and backsplash; Kohler polished chrome faucets; ceramic tile flooring at entry, kitchen, dining, baths and laundry; plush carpet throughout living areas; pre-wired multi-media plate; fire-resistant concrete tile roofs; decorative front doors; high efficiency air conditioning and gas furnace; tankless water heaters; and energy efficient bathroom fixtures.  All homes are Build it Green™ Certified.

Terrazza is the southernmost set of homes and the only collection south of the Narrow Path entry from Culver.  There are four different elevations: Tuscan, Northern Italian, Formal Spanish and Early California.  All homes in Terrazza are zoned for the Tustin Unified School District, including Hicks Canyon Elementary, Orchard Hills School, and Beckman High School.  Currently, Hicks Canyon serves grades K – 4 and Orchard Hills serves 5 – 8.  Eventually Orchard Hills will be a K-8 facility.  There will be a total of 149 homes in the Terrazza neighborhood.

Basic Neighborhood Financial Information
Approximate HOA Dues: $196 per month
Approximate Tax rate: 1.06%
Approximate Mello Roos: $3704 - 4154 per year (AD Tax: $1,950; CFD Tax: $1,650 - $2,100; other tax $104)
Overall Effective Tax Rate: 1.5%
Prices start at around $855,000 for Residence One, $935,000 for Residence Two, and $965,000 for Residence Two X.

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Posted in New Homes
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