Monthly Archives: November 2013

A Look at Some Housing Stats for Irvine and Surrounding Cities: Nov 2013 Update

One of my posts from July of this year provided stats on the Irvine housing market and some surrounding cities. Today we will take an updated look at these numbers. These two sets of numbers can be used to do some then-and-now comparison. The following numbers are for the ninety days that precede November 3.

What is your conclusion? Has the local housing market gone up, down, or sideways?

Area Median List Price Median Sale to List Price Avg # of Offers Avg Down Payment # Homes Sold
Irvine

$759,000/

$424 per SF

 98.3% 2.2 21.50% 728
Lake Forest $568,000/

$331 per SF

 99.3% 1.1 12.30% 223
Tustin $635,000/

$355 per SF

 98.60% 1.5 38.9% 165
Orange $599,000/

$326 per SF

 98.8% 2.3 25.9% 339
Santa Ana $395,000/

$307 per SF

 99.90% 1.8 14.70% 399
Costa Mesa $722,500/

$437 per SF

 98.1% 2.0 20.8% 196
Newport Beach $2,300,000/

$932 per SF

 96.8% 2.1 29.7% 358
Orange County $674,900/

$368 per SF

 98.3% 2.3 20.5% 8,000

Source: redfin.com

Open House Review: 19292 Sierra Cadiz Rd.

Updated Turtle Rock Single Family Home with Pool

19292 Sierra Cadiz Rd. $1,285,000

Turning off Turtle Rock Drive and winding back past past the cul de sacs, this single family home with pool takes you to 19292 Sierra Cadiz. This home has just come on the market, joining several other million plus properties in this part of Turtle Rock. This property is smaller but it has been updated, and it will be interesting to see how it does in the current market.

Significant Numbers: Built in 1972, this single level, three bedroom, two bath home has 1,842 sq. ft on a 6,534 sq. ft. lot., at $698 per sq. foot. HOA dues are $129 a month.

Close Up: The tiled entry opens to a large wood floored living room with fireplace on the left, plus formal dining room that opens to the patio, pool and rose garden. Straight ahead, the kitchen pairs with a good sized family room.

Freshly painted in soft beige with white accents, new travertine tile, hardwood floors, and shuttered windows all work to highlight the light filled rooms. The good sized rose garden frames the pool and in ground spa, creating an inviting outdoor setting for entertaining and family use.

The kitchen is nicely centered between the dining from and family room, with new appliances, new travertine tile floor, and a new serving counter across from the family room.

The three bedrooms and two baths, including the master suite with mirrored closet doors, are good sized and light filled with a small atrium accenting the area.

Specifics:

Bedrooms, 3

Baths, 2 full

Detached/no common walls

Double garage

Two parking spaces

Central furnace, no cooling

Community pool and spa

Laundry in garage

What will be considered? The secluded Turtle Rock location, fresh paint and updates, plus pool and garden, will contribute to the home’s value. The home will be compared with other million dollar plus properties in the area that offer more square feet, larger lots, and an extra garage. Some have been updated, some not, and the prices are higher.

Who will move in? The award winning Bonita Canyon Elementary School, community park and community pool within walking distance, will be a strong attraction for young families. Three bedrooms in a single level setting will also work for mature buyers or families with older members who want a prime Irvine location.

Recent listings: 19451 Sierra Seco Rd., $1, 249,000; 17 Morning Dew, $1,399,000.

Recent sales: 19221 Sierra Isabella Rd., $1,300,000; 6162 Sierra Siena Rd., $995,000.

A Review of the Birch Trail Tract at Pavilion Park

Today I am reviewing Birch Trail, the smallest of the ten Pavilion Park’s developments and the only neighborhood built by Richmond American Homes. Eighty-eight homes will feature an Americana-themed architecture and all come with a two-car garage, six solar panels, granite countertops, recessed lighting and front yard landscape package with irrigation. In Residence 1 (Neil) and 2 (Nelson), all bedrooms are located on the second floor, with the option for a bedroom on the first floor in Residence 2 (Nelson). Residence 3 has a bedroom on the ground floor with the option for an additional bedroom.

Residence 1 (Neil) Residence 2 (Nelson) Residence 3 (Newton)
Approx 1,878 Sq Ft Approx 2,011 Sq Ft Approx 2,388 Sq Ft
3 Bed 3 Bed + *Study 4 Bed + *Study
2.5 Baths 3 Baths 3 Baths
Base Price $719,990 Base Price $739,990 Base Price 789,990
*Optional 4th Bedroom *Optional 5th Bedroom

Approximate HOA Dues: $138 – $193 per month

Approximate Tax rate: 1.1%

Approximate Mello Roos: $4,400 – $5,400 (based upon the square footage of the home) and subject to an increase by 2% per year.

Residence 1 (Neil) Floor Plan

Residence 2 (Nelson) Floor Plan

Residence 3 (Newton) Floor Plan

Community Amenities include a playground, swimming pools, sport courts, spa, great lawn, pavilion and greenhouse & garden.

All Pavilion Park homes are currently slated to attend Irvine public schools:

– Canyon View Elementary School

– Jeffrey Trail Middle School

– Northwood High School

These schools are subject to change. A new K-8 school is slated to open in the Great Park Neighborhoods in 2016 and there are also plans for a new high school in the area.

Standard amenities list

Pricing as of 10/12/2013

The only way to be aware of any upgrades is to check against the handout listing the standard features, which made it challenging to walk through the models and recognize upgraded features. It was a nice surprise to see that the standard bathroom amenities included tiled shower areas (instead of the pre-fabricated fiberglass) and that bedrooms and the family room were prewired for fans. But my all-time favorite standard is the six solar panels.

This particular builder, Richmond American Homes, offers a Sellers Edge Program that can benefit the Buyer if particular requirements are met in the case he/she decides to sell their current home and simultaneously buy a Birch Trail home with a referred 1-2-3 HomeKeys agent. Some of the benefits include, but are not limited to a Commission Rebate of 2%, home staging, a check for $2,500.

Residence One (Neil)

Approx. 1,878 square feet

3 Bedrooms, 2.5 Bathrooms

Base Price from $719,990

Style Options: Elevation A – C

Neil consists of three bedrooms upstairs, a shared bathroom, and a master bathroom with an optional enlarged shower or walk-in shower. Among other standards, the home includes six solar panels. The model home incorporates many of the upgrades, including tiled living room floor, additional cabinetry in the kitchen and linen closet area, as well as dual sinks in the upstairs bathroom. In my opinion, the overall first floor layout has flaws that deem this to be my least favorite model.

The entrance is located under a small covered porch, which leaves room for one chair. I entered into a small square area which opens immediately into the great room. Looking towards the back of the house, I immediately noticed the dishwasher placed in the middle of the back wall. The room brings in plenty of natural light with 6 windows and a sliding glass door. The coat closet is in the hallway located between the living room and kitchen. The hallway consists of a linen closet, garage entrance and half bathroom before leading to the stair case.

The dining area is limited in space due to it being surrounded by the kitchen island, the extended countertop/cabinets running across the entire back wall and the sliding door leading to the small backyard. However, the extended countertop and cabinetry provides ample storage space.

The kitchen consists of a small island with room for a couple of bar stools. Along the back wall sits the refrigerator, oven, and a counter top that runs the rest of the length of the wall, with the sink and dishwasher in the center. The wall adjacent to the refrigerator consists of a hallway opening that leads into a hall with a handy built in desk, walk-in pantry, a laundry room with a sink and a small storage area beneath the stair case. The built-in desk is a great place to have a computer or place bills/mail on. Next to the hallway opening is the stovetop.

There are a few things that bother me with this layout. The distance between the sink and the stovetop is too far, especially with the island hindering smooth transition between the two areas. I cannot imagine prepping food and having to walk so far to the stovetop, and worse, having to carry a heavy pot of boiled pasta/veggies and walking so far to strain it in the sink. In addition, with the sink and dishwasher centered against the back wall, anyone entering the house can plainly see if there is a pile of dirty dishes left on the countertop. Another big downfall is the inconvenience of the laundry room’s location. Someone would have to walk down the stairs, through the kitchen, through the pantry area and back to the laundry area.

The backyard is small in size and located off the dining room’s sliding glass door.

The downstairs bathroom has a pedestal sink and toilet.

Upstairs, the secondary bedrooms are placed each side of the hallway. They are both on the smaller side and similar in size. Each bedroom has a two-door sliding closet. On the left, between the secondary bedroom and master bedroom is a shared bathroom. The model includes the optional double sink, but does not have the optional door separating the sinks from the toilet and tub/shower combo.

The master bedroom has two smaller windows to the left and a larger window on the adjacent wall. The bedroom is a decent size. The master bathroom has dual sinks with no counter space on the outside of both sinks and limited space between the sinks. There is a large walk-in closet and separate toilet. The model includes a walk-in shower with dual shower heads. A different option includes a tub and enlarged shower. There is an optional bathroom door that can be added, and would block out any of the light in the mornings if one person was utilizing the bathroom while another was sleeping.

Residence 1 (Neil) is the smallest of the Birch Trail residences. As mentioned above, my biggest complaint is the kitchen layout, which I find inconvenient. Another downfall is the small backyard. I wish the laundry room was better located as well. This was my least favorite layout.

Residence Two (Nelson)

Approximately 2,011 Sq Ft

3 Bedrooms, Study (with optional 4th Bedroom)

3 Bathrooms

Base Price from $739,990

Style Options: Elevation A – C

Residence Two model is Elevation A. The home is designed to be a corner lot, with the garage on one side of the house and the entrance on the adjacent side. There are 3 bedrooms upstairs, with an option to convert the first level study into a 4th bedroom.

A covered porch, with space for a couple of chairs and small table, leads up to the entrance. Upon entering, the staircase and study are located to the right. A short hallway is straight ahead consisting of a bathroom, coat closet and garage entrance. The left hand opening leads into the great room.

The study in the model home includes the optional built-in bookcase. It is a smaller room which includes a closet and an option to install double doors. Another option is to convert the room into a fourth bedroom. The single bedroom door entrance would also be located in the short hallway, across from the bathroom.

The bathroom has a single sink and tub/shower combo.

The great room has 2 sliding glass doors and 3 windows spread throughout the kitchen, dining room and living room which bring in an abundance of light. The dining area sits between the kitchen and living room. A covered patio is accessed from the living room. It is small patio with space for a couple of chairs and table. The backyard is small.

The kitchen has plenty of cupboards and storage space. Unlike the first residence, the layout is functional but the island does not have space for seating. It does however provide additional storage in the kitchen/dining area.

Upstairs you will find the laundry room, three bedrooms and two bathrooms. The staircase leads you up to the first secondary bedroom. It’s a decent sized room with a small walk-in closet.

Adjacent to the bedroom is a small laundry room which includes the optional cabinets. There is no sink or counter space so it seems that the cabinets would be a necessity for a homeowner, depending on the type of washer/dryer they owned.

Across from the laundry room is the shared bathroom and next to it, in the back corner, is another secondary bedroom. The bathroom model includes the optional dual sinks which still leaves a good amount of counter space. There is a separate toilet and tub/shower combo.

The back secondary bedroom is slightly smaller than the other. It also has a small walk-in closet.

The master bedroom entrance is located in a separate short hallway between the laundry room and back bedroom, which creates a sense of privacy. A very large linen closet is located in the hallway in front of the master bedroom door. Natural light fills the room with two windows along each of the two adjacent walls. There are also 4 windows in the master bathroom which bring in extra light. The master bedroom is a decent size. Entering the master bathroom, a large walk in closet is immediately to the right, next to a large shower and a separate small room with another linen closet and the toilet. I was surprised to see the shower floor was not tile, but a type of fiberglass. Along the left side are dual sinks separated by a large tub. Each sink has plenty of counter space. There is an optional bathroom door that can be added, and would block out any of the light in the mornings if one person was utilizing the bathroom while another was sleeping.

The layout of Residence 2 is much better than Residence 1. The option to have a downstairs bedroom may appeal to many buyers. Whether the room is used as a study or bedroom, it could serve as multiple purposes. However, the rooms in this model felt small, along with the backyard. Although the master bathroom was large with additional linen storage, it would not be my preference to have the tub between the two split sinks. It also felt like some of the features I would expect to be standard, are options: optional double sinks, cabinets in the laundry room.

Residence Three (Newton)

Approximately 2,350 Sq Ft

Main Home: 4 Bedrooms, 3 Bathrooms + Study (with optional 5th Bedroom)

Base Price from $789,900

Style Options: Elevations A – C

Residence Three is the largest and the only model that comes with a standard bedroom on the first floor and a balcony on the second floor. There is also a first floor study which is the optional fifth bedroom and comes with the option of having a door directly accessing the backyard covered patio. Upstairs consists of 3 bedrooms, 2 bathrooms and the laundry room.

The entrance is located under a small covered porch that is not as open as Residence 2’s. With it being darker and set back it would not be used as a sitting porch. Entering the home you come into a foyer with space to have a table or chairs against the wall. The staircase and entrance into the great room are found straight ahead. To the right is the entrance to a small hallway that consists of a coat closet, study, bathroom and bedroom.

The study is a nice size room with a large window facing the backyard on the back wall and one on the adjacent wall that faces the covered patio. The room has the option of substituting the window into a door for direct accesses to the covered patio. The option for the door is available even if the space was selected as a fifth bedroom. As a fifth bedroom, a two-door sliding closet would be placed immediately to the left and would be smaller than the other secondary bedroom on the first floor.

A bathroom with optional dual sinks and an option to have a separate toilet and tub/shower combo sits between the study and other bedroom. The model includes both options. Even with dual sinks, there is plenty of counter space.

The bedroom faces the front of the house and has 3 windows that bring in a lot of light. As previously mentioned, it is bigger than the study and with it being separate from the living space, it would appeal to buyers that have guests, older family members or just want a bedroom on the first floor.

The great room has a kitchen with a window over the sink, the door to access the garage and this particular model depicts the option of a working desk and cabinets installed between the great room entrance and the pantry. The small dining area has a sliding glass door to the small narrow side of the backyard. I am not quite sure what the purpose of the dining room sliding door is since there is no space to play or entertain on the side of the house. The living room has 3 windows and a glass door out to covered patio. There is plenty of natural light that floods the room.

The optional desk and cabinets make a great place to have mail or files you want to easily access. It is also a great place to have oversight of children on the computer or doing homework. However, if you are comfortable using the study for your everyday files/mail/computer, the room may look larger without the option. However, even without it, the dining area remains small and restricted since it primarily is located between the kitchen island, pantry and great room entrance.

When entering the great room, immediately to the left is the optional desk and the kitchen’s large double door pantry, refrigerator and garage door. On the adjacent wall is the oven and stovetop with plenty of counter space. To the right is the sink and dishwasher. The kitchen island is small and in my opinion it hinders the flow from the sink/prep area to the refrigerator. The kitchen has plenty of cupboards and storage.

Like the other models, the backyard is small. The covered patio is a nice feature that can sit a couple of chairs and small table.

Upstairs, there are three bedrooms, two bathrooms, as well as a laundry room. This is the only model with a balcony which faces the front of the house.

Immediately to left is a secondary bedroom. Although the floor plan depicts two windows, the model has 3 windows. The secondary bedrooms and bathroom appear to be the exact same sizes as the first floor. Again, the bathroom has optional dual sinks but it depicts a bathroom without the optional separated toilet and tub/shower comb. Adjacent to it is the other secondary bedroom that is the same size as the bedroom downstairs. It is bedroom which is slightly larger.

Walking out of the secondary bedroom, a small window on the left overlooks the balcony. Around the corner from the window sits the single door to the balcony. The balcony can fit a couple of chairs and small table.

Adjacent to the balcony is the laundry room. The model home has the optional cabinets above the washer/dryer as well as the optional cabinets installed under the countertop on the side of the machines. A sink is not available in the list of options.

The master bedroom is located off of a short hallway with optional linen cabinets installed. It is nice that the bedroom is on the opposite corner of the secondary bedrooms, providing more privacy. The room brings in a lot of light with two smaller windows on the back wall and three larger windows on the wall to the right, which overlook the backyard. The room is a nice size. An optional bathroom door is offered to block out any of the light in the mornings if one person was utilizing the bathroom while another was sleeping.

The bathroom has a big tub immediately to the right and a shower with two sliding glass doors immediately to the left. Across from the tub and shower are split sinks with plenty of counter space. Beyond the sinks are a separate toilet and an L-shaped large walk-in closet.

This model, with a downstairs bedroom and the option of having either a study or a fifth bedroom will appeal to many buyers. The dining areas in all three residences feel restricted and I wish there was a larger area for a bigger dining table. The biggest complaint I have is the location of the refrigerator with regards to the sink and kitchen island. However, I like the privacy and location of the master bedroom. The master bathroom layout is also my favorite. Which model is your favorite?

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,11010.0.html

Open House Review: 10 Ribera

There are only two gated communities in the original Village of Northwood and one of them, Windstream, has a home on the market in a fantastic location. Situated at the end of a small, quiet cul-de-sac, 10 Ribera is right next to the Hicks Canyon Trail and a quiet greenbelt.

The basics:

Asking Price: $1,065,000

Bedrooms: 3

Bathrooms: 3

Square Footage: 2,597

Lot Size: 5,663

$/Sq Ft: $410

Days on Market: 32

Property Type: Single Family Home

Year Built: 1981

Community: Northwood, Windstream

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

This home has a small entryway, with a huge, arched window. The stairs are in front of you with the living room visible on the other side. There is a very small coat closet near the front door.

The living room has vaulted ceilings and several windows extending high up the walls, bringing in light from both the back and side of the house. A tall, brick fireplace sits on one wall; the opposite side has a railing to divide it from the dining room. The living room has carpet that is in very good condition, with no noticeable stains. It is a pretty typical living room for a home built in the early 80s.

The adjacent dining room is also carpeted. It is a fairly big room, with plenty of space for a large table and china hutch. It has a big window and crown molding, but does not have high ceilings like the living room.

Past the dining room, the hallway leads to the kitchen and family room. The kitchen has been partially remodeled and is a strange mix of old and new. The granite counters are new, but the cabinets are not. The black dishwasher and cooktop (in the island) are newer, but it still has the original double ovens. The kitchen has wood floors, a breakfast nook and a window seat. It also has a small hutch area near the nook with a glass-fronted upper cabinet that makes a nice space for display items, but also can serve as a mini desk.

A laundry room off the kitchen has a sink, side by side machines, and access to the garage.

The family room is open to the kitchen and shares the same wooden floors (which are also used in the hallway and entry area). Like the living room, it has a brick fireplace (including a space for wood storage), with space for a wall-mounted TV above it. The fireplace is flanked by windows on either side; a sliding door on another wall leads to the backyard.

The backyard felt very cramped to me, as it is divided into several small sections. A trellis just off the back door provides a shady space for a small sitting area. Just behind it, and one step up, is a built-in Jacuzzi. Having two different levels contributes to the feeling of being closed in. The lower level is long and narrow, broken by a wall that closes in the air conditioning unit. The upper level is entirely hardscaped, though in two different styles. The area around the Jacuzzi and center of the yard are mostly cement with brick accents. The center section has a fire pit that further breaks up the space. The far side has dark wooden planks and is surrounded by a wooden rail. The highlight of the yard is the fence on one side offering views of the greenbelt and Hicks Canyon Trail.

Upstairs, there are three bedrooms and a bonus room. Both secondary bedrooms are a good size, offering space for a large bed and several other pieces of furniture. One room has windows facing both the front and trail side of the home, so it has nice views and lots of light. The other just faces the house next door. Both rooms are carpeted and have two-door mirrored closets.

The shared bathroom is well maintained and has newer hardware, but otherwise isn’t modern. The tiled vanity has a single sink and the floor tile looks dated. There is a shower/tub combo.

The master bedroom has newer wood floors and vaulted ceilings. It has a large fireplace entirely made of brick in an asymmetrical pattern that I do not find attractive. It is a good sized room and gets light from several windows on two walls.

The master bath is the only room in the house that has been completely upgraded. It has a new vanity with dual sinks, and a nice contrast with a lighter countertop and espresso cabinets. A large tub has neutral colored tile around the base and backsplash, with a marble edge surrounding the tub that matches the counter. The stall shower is next to the tub and covered in the same tiles from floor to ceiling. It looks nice but seems very hard to clean. The shower has a built-in seat and rain shower.

A bonus room faces the front of the house and, unfortunately, my picture doesn’t do it justice. The room has wood floors to match the master, vaulted ceilings, and a full wall of windows facing the front of the house. Numerous bookshelves line the walls. This room would be a great office and/or playroom. It could also serve as a guest bedroom, though it doesn’t have a closet.

The attic was converted to a third floor room. A door opens up to a somewhat steep staircase that may be difficult for small children to climb down. It is a big, open space with beamed ceilings. Today was a hot day, so it was somewhat stuffy up there, but is probably more comfortable in cooler weather. The openness makes it quite adaptable for a variety of uses.

The location of the house is superb. However, because it isn’t fully upgraded, the sellers may have a hard time getting their asking price. Comps in the neighborhood – both recent sales and those currently on the market – do not top the million dollar mark. Do you think the prime location warrants the price or do you think it is overpriced due to the lack of upgrades?