Irvine Housing Blog

Open House Review:  18 Southern Wood

Best Priced Single Family Home in Turtle Rock Hills

18 Southern Wood: $980,000

As I turned off Turtle Rock Drive onto Southern Wood, I remembered seeing another open house in this neighborhood at 10 Windflower.  This single family 3 bedroom, 2.5 bath home is one street up from the Windflower home.

And as it turns out, the similarities and differences in the two homes generate some good questions.  New to the market, and in the realtor’s words, “the best priced single family home in Turtle Rock Hills,” 18 Southern Wood is situated on a 10,000 sq. ft. lot with a panoramic canyon and mountain view, and a back yard that is really one big beautiful garden.

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.

Closed Sales from 7/19/2012 to 7/25/2012

Discuss below or Talk Irvine.

Open House Review: 9 Carriage Drive

Prior to today, I had never been in the West Irvine community at all.  I hadn’t driven down the streets or gone into any of the homes.  I decided to take a look and was somewhat surprised by what I found.  The biggest surprise was a lack of HOA, since every other new community in Irvine has a community pool and other amenities typical of a homeowner’s association.  Also, the area felt a little cramped, like the houses were too close to the street or too close to each other.  It just didn’t feel as open as many of the other neighborhoods in Irvine.

On the bright side, I did like the house itself – 9 Carriage Drive.

The basics:
Asking Price: $749,000
Bedrooms: 4
Bathrooms: 2.5
Square Footage: 2,237
Lot Size: 3,740
$/Sq Ft: $335
Property Type: Single Family Home
Year Built: 1999
Community: West Irvine

There are no HOA dues but there are Mello Roos taxes.

Irvine House vs. Condo Numbers: July 2012

According to Altos Research, Irvine’s single-family homes have a Market Action Index of 21.70, which Altos defines as a buyer’s market. (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 has been on the market for about 128 days as of July 20, 2012.

Median Price of Single-family Homes in Irvine
Altos Research

Open House Review: 10 Monterey

Condo Questions in Turtle Rock Pointe

10 Monterey: $775,000

Driving on Ridgeline Drive in Turtle Rock with open fields and views all around, and then entering the gated community of Turtle Rock Pointe, my  first question was how this 10 Monterey condo fits into today’s market. Next question: how does it compare with the 33 Valley View condo that I saw last week?

Nicely situated in an elevated area in a quiet cul-de-sac, 10 Monterey has a strong curbside presence backed up with a polished, put together interior.  This 3 bedroom, 2.75  bath condo makes the most of 2,104 square feet in a functional and appealing home.

Wisteria or Liberty

Two West Irvine detached condominiums on the market have the same floor plan, and same listing price of $609,900. But, around their listing price is a single family residence with wood flooring, crown molding and other upgrades. At $639,000, it might end up working cheaper to own a single family residence than a condominium. What compels people to buy the overpriced condominiums when the single family residences are listed for a better price? The community is still the same, and the schools are the same.