Author Archives: Cubic Zirconia

To Catch a Falling Knife

January 1, 2008

The race to the bottom had begun, and house prices were dropping in thousands every week, even in Irvine. On one side, there was Irvine Renter writing blogs with titles like “Speculation or Investment”, profiling the properties with an asking price totally out of tune with the market, and graphs that showed the shadow inventory as well as the current REOs with no sign of bottoming till 2012. It was doom’s day. Great Housing Bubble was bursting. On the other side, there were Realtors, convincing you that this was the bottom, and Irvine will never see these prices again. Opportunity was knocking, according to them, and you would be a fool not to pick up the keys to open that door.

Amidst all this certainty, an impending recession and growing unemployment, there were a lot of houses on the market, and there were buyers and sellers, including us. We decided to catch the falling knife, and buy a house.

All we wanted was a small three bedroom/ two bathroom house with an attached garage in an excellent school district. We saw a lot of houses, and wrote a lot of offers. Most of them were rejected. Some got better offers than what we quoted, and some just waited for the right price. Some were short sales that took forever to materialize. Today I will profile a few houses that we had put offers on, with the price that we had offered.

1. 256 Monroe #50

Irvine CA 92602

Listing Price: $599,000

Our offer: $474,000

Community: Northwood

Area: 1411 SF

This house fit our criteria, and it was the first one that we saw. When our Realtor sensed that we had liked the house, she told us to put in an offer fast, because the house already had multiple offers. We ran a few calculations using Irvine Renter’s blogs, and decided to offer $474,000. She was miffed at us, and told us that she could not submit any offer below $500,000 since the house already had two offers above $500,000.

Public records show that the house was foreclosed at $417,600 by the Bank in July 2008, and resold at $448,000. Two days after our Realtor told us about the outstanding offers above $500,000, the listing price dropped to $480,000 proving that there weren’t any other offers.

Currently, 72 Monroe from the same neighborhood is on the market for $349,000.

446 Monroe was sold at $401,000 in September 2011.

Verdict: Falling knife.

2. 59 Bellevue

Irvine CA 92602

Listing Price: $564,900

Our offer: $525,000

Community: West Irvine

Area: 1600 SF

Our offer was rejected and public records show that the house was taken off the market.

Currently, 17 Bradford from the same neighborhood is on the market for $479,000.

9 Bellevue was sold at $465,000 in September 2011.

In the same neighborhood, 1 Bradford was in the market at $589,900 in 2008. We offered $525,000 and we were counter offered at $585,000. Eventually the house was sold at $570,000 in May 2008. The house was listed at $540,000 in June 2011 and sold at $495,000 in August 2011.

Verdict: Falling knife wrapped in silk

3. 10 Wedgewood

Irvine, CA 92620

Listing Price: $525,000

Our offer: $525,000

Community: Northwood

Area: 1561 SF

This was a lovely single family home with a “teaser price” of $525,000 to lure the buyers. It was everything that we looking in a house, but we were outbid as expected. It was a single family home. There was another house on Grape Arbor with a teaser price of $525,000 and people were faxing in their offers even before the house was opened for showing.

Public records show that the house was sold for $660,000 in June 2010.

Currently, the same house is listed in the market for $698,000.

Verdict: Would have, should have!

4. 11 Sagamore

Irvine CA 92602

Listing Price: ??

Our offer: $525,000

Community: West Irvine

Area: 1500 SF

I lost the MLS listing sheet for this one, and couldn’t trace the listing price online either. But I did find an email stating that we were counter offered at $545,000. I am assuming this was on the market for $550,000. I had also written a letter to the seller, asking him to reduce the price to $525,000 quoting Irvine Renter’s speculations about Irvine market. Looking back, I am thinking that the whole house hunting process must have been so frustrating that I wanted a house to move into, rather than this house. It can happen to any buyer- after you look for a few months, and find nothing worth your attention and money, frustration sets in and you start making mistakes.

Public records show that the house was sold for $491,104 in April 2009.

Currently, the 97 Sapphire with the same floor plan in the same neighborhood listed at $385,000.

Verdict: Phew! That was close. It was probably the sharpest knife that we were going to catch.

5. 801 Yorkshire

Irvine, CA 92620

Listing Price: $505,000

Our offer: $475,000

Community: Northwood

Area: 1481 SF

Public records show that the house was sold for $515,000 in December 2008.

Currently, the 135 Islington with the same floor plan in the same neighborhood sold at $489,000.

We had offered $475,000 for a similar condominium in the same neighborhood. Our offer wasn’t accepted then. The house was foreclosed at $495,000 in October 2009, and it was again relisted in 2011. The last sale was for $485,000 in August 2011.

Verdict: Blunt knife

6. 171 Lockford

Irvine CA 92602

Listing Price: (Feb 2008) $558,800

Our offer: $525,000

Community: Northpark

Area: 1752 SF

This house was a perfect size, and a perfect location- we were taken by the guard gated community. Every room was well laid out, and except for the fact that the entrance was through a flight of stairs, there was nothing to really point out to. But around the same time we found out about the lies our Realtor was feeding us, and decided to stop working with her. By the time we found a new Realtor and re-entered the market, this house was sold at $540,000 in August 2008.

117 Talmadge in the same neighborhood was sold at $450,000. It was a short sale.

3 bedroom/ 2.5 bath detached condos are on the market in the same community for around $535,000 now.

Verdict: Kool-aid happens, even from those who read IHB.

7. 9 Hollyhock

Irvine CA 92602

Listing Price: I lost the MLS sheet, but this was listed around $600,000.

Community: West Irvine

Area: 1700 SF

This was a short sale, and we offered $545,000 to the bank. The offer was rejected, and the house was foreclosed at $600,555 in July 2008. It was sold again in November 2008 at $569,000.

Verdict: Knife in a box.

After spending so much time touring at least a hundred houses in Irvine, we finally bought in November 2008. It was a short sale that took four months to get the bank approval. When it materialized, we had almost forgotten about the offer and moved on. It is not the perfect house, but so far, our house is the “bottom” for our neighborhood. In the little improvement that the market saw in 2010, one of our neighbors sold their house (same plan) for $65,000 more than the sold price of our house, and another short sale in 2011 dragged the appreciation by $30,000.

So do you maintain a list of homes that you put an offer on?

Did you buy or sell a house during 2008/2009?

Did you speculate, or did you invest?

Discuss below or at Talk Irvine.

A Review of the Capistrano Tract at Stonegate East

Location: On Sand Canyon Ave., between Jeffery and Irvine Blvd. is the Village of Stonegate East.

Builder: Irvine Pacific Homes by the The Irvine Company.

Exploring the homes of Capistrano:

The Capistrano homes are two-story duplexes between 1823 sf to 1956 sf. Three plans are offered, and the price range is mid-$500,000 to low-$600,000. Various options for the elevations, as many as seven for Residence 2 ensure a unique property. According to the sales agent on site, Residence 1 is no longer available, but they have Residence 2 and Residence 3 available.

The townhomes/duplexes at Capistrano are housed in Stonegate East village. This is a rectangular space between Highway 133, SandCanyon, Irvine Blvd and Spring Meadow. Some of the houses back Sand Canyon and Spring Meadow. Noise and air quality will still be affected greatly, considering there is Highway 133 in the vicinity.

(From www.irvinepacific.com)

All three floor plans have generous island space, home management center, granite slab kitchen counters with 6-inch backsplashes, Stainless steel double basin kitchen sinks, white Thermafoil finish cabinetry with under the cabinet task lighting, stainless steel appliance package for the kitchen. The Thermafoil finish might emit fumes for the first few months, but clean up and maintenance will be easier than wood cabinetry.

The Master Suites have Kohler tubs with ceramic tile surround, separate shower with clear glass enclosure, dual sinks with cultured marble countertops, backsplash and Kohler polished chrome faucets. Cultured marble countertops are inexpensive and look good, but they need daily cleaning.

The kitchen and entry have ceramic tiles, bathrooms and laundry have vinyl, carpet in other living areas.

The elevations are typical Irvine Santa Barbara/ Formal Spanish and Early California styles. California rooms are a feature in all the plans, and the model homes that I visited had lovely play of light and shade in these spaces. The weather in Irvine would put that space to a lot of use. The roof tiles are fire resistant concrete. The windows are energy efficient, and they have high efficiency air conditioning/gas furnace/ tankless water heater/radiant barrier roof/bathroom fixtures.

The houses will be ideal with a young family of four. Not all of the schools are walk-able, even though the elementary school (Stonegate Elementary as per the information sheet provided by Irvine Pacific) is touted as walk-able, it’s almost a mile. The upper elementary school kids are capable of walking or biking a mile, but it will be almost unrealistic to expect younger children (K-3) to walk or bike for a mile early in the morning.

Freeway 5, 405, 133 and 241 are close to the community, making commute easier. Woodbury Town center is across the street, and that includes all necessary services and shopping. Within five miles are Orchard Hills Village Center, Trabuco Grove Shopping Center, Irvine Spectrum Center and the Market Place. There are plenty of bike routes encouraging biking in the area.

Here is the breakdown of HOA and Mello-Roos for the Capistrano houses:

Property tax: 1.05% of sales price

AD tax (Mello-Roos): $1579 per yr

CFD tax(Mello-Roos): $1700 per yr

Other taxes: $156 per yr

Overall tax: 1.7% approximately

HOA due are $251 per month. (Stonegate East HOA- 125, Capistrano HOA -126)

Fixed annual cost would be Mortgage + Property Tax + $6447 (Mello-Roos and HOA)

Here is an overview of the three plans offered, with some pictures:

Plan 1:

Offers three elevations, in three similar color palettes.

Area: 1823 Sq ft approximately

3 bedrooms, 2.5 bathrooms

These houses are offered at mid-$500,000.

One of the houses in this plan, 26 Loquat is currently renting for $2950 according to public records.

One of the houses in this plan, 35 Bromeliad was sold for $549,715 according to public records.

Fixed monthly cost of this house assuming the sale price of $549,715 would be Mortgage + 1018.25

Assuming that someone bought this house with at $550,000 with 20% down payment at the current rate of 4.25 (0 Points, One West Bank) for 30 Yr Fixed, the mortgage would be $2165.

Monthly cost of owning would be = $3183 (Not including the interest lost on the down payment, the various insurances required by mortgage companies, closing costs)

A detailed calculation using the NY times Rent Vs Calculator says that after the sixth year, owning would be cheaper than renting at the sixth year.

According to the Sales Agent, this plan is sold out.

Pros:

– California Room

– Home Management center

– Laundry upstairs, close to the bedrooms

– Tech room upstairs that makes the perfect home office/homework station

– Two sinks in the secondary bath room

– The wall to wall counter in the kitchen

– Wall of windows in the Great Room, Dining Room and Master bedroom for ample day light.

Cons:

– The Kitchen Island with Dishwasher that opens towards the stove. Impossible for two people to work in tandem in the kitchen.

– The powder room downstairs is far off the living spaces.

– The coat closet door and garage door open into a constricted corridor between entry and living spaces.

– The secondary bedrooms are very tiny, and the closets are too small to hold the clothes and toys of a child.

Since this plan was sold out, there are no pictures of the model house, but here is the link to the builder, Irvine Pacific’s website:

Plan 2:

Offers seven elevations, in seven similar color palettes.

Area: 1904 Sq ft approximately

4 bedrooms, 2.5 bathrooms

These houses are offered at high-$500,000.

One of the houses in this plan, 37 Deergrass was sold for $571,121 according to public records.

Fixed monthly cost of this house assuming the sale price of $571,121 would be Mortgage + 1018.25

Assuming that someone bought this house with at $570,000 with 20% down payment at the current rate of 4.25 (0 Points, One West Bank) for 30 Yr Fixed, the mortgage would be $2238.

Monthly cost of owning would be = $3256 (Not including the interest lost on the down payment, the various insurances required by mortgage companies, closing costs)

Suitable comparable property in the community couldn’t be found for rent vs. own comparison.

According to the Sales Agent, this plan is sold out, almost. (I expressed interest in buying one of these plans and the sold magnets moved mysteriously)

Irvine Pacific’s website shows one home available prices starting from $570,121.

Here is the link to the builder, Irvine Pacific’s website: http://www.villagesofirvine.com/Villages-and-Neighborhoods/Stonegate-East/Residence/Capistrano/Residence-2. If you see last picture of the kitchen, you will notice the lack of space for two people to work in tandem in the kitchen. Irvine Pacific must really think kitchen is one man/woman domain considering the repetition of the same layout in most of their kitchens!

Pros:

– Spacious entry room without doors colliding into each other

– Powder room close to living spaces

– Home Management Center

– California Sun Room!

– Loft upstairs that can be the family room

– Laundry room upstairs

– Closet size in the secondary rooms is acceptable

– Windows for ample natural daylight

– Two sinks in the secondary bathroom

Cons:

– The kitchen island with dishwasher and stove opposite of each other of course!

– Pantry, refrigerator, sink and stove locations don’t make it easy for the cook with a tight work triangle, but the lengthy counter with cabinets makes up for it.

– The staircase opens very close to the entrance making it hard to keep track of who entered and who exited.

– Master Bath looks like everything is just crammed in. Lacks spacious and airy feeling.

– If the loft is turned into a bedroom, there will be a long corridor from the staircase ending into the laundry room giving it a dormitory feel.

Here are a few pictures:

Plan 3:

Offers four elevations, in four similar color palettes.

Area: 1956 Sq ft approximately

4 bedrooms, 3 bathrooms

These houses are offered at low $600,000.

One of the houses in this plan, 28 Flowerstalk is currently renting for $3350 according to public records.

One of the houses in this plan, 25 Bromeliad was sold for $601,121 according to public records.

Fixed monthly cost of this house assuming the sale price of $601,121 would be Mortgage + 1018.25

Assuming that someone bought this house with at $600,000 with 20% down payment at the current rate of 4.25 (0 Points, One West Bank) for 30 Yr Fixed, the mortgage would be $2361.

Monthly cost of owning would be = $3380 approximately (Not including the interest lost on the down payment, the various insurances required by mortgage companies, closing costs)

A detailed calculation using the NY times Rent Vs Calculator says “If you stay in your home for 6 years, renting is better. It will cost you $45,971 less than buying, an average savings of $7,662 each year”.

Another calculation at the Irvine Pacific website, assuming we stay in the house for ten years, and there is zero appreciation, 2% increase in rent annually, rest of the parameters same as above:

Result Returned

Rent

Buy

Value of Home after 10 Years of Appreciation:

$601,121

Remaining Balance After 10 Years:

$382,148

Home Equity:

$218,973

Payments**:

$440,178

$283,886

Property Tax:

$111,895

HOA Dues:

$30,120

Down Payment:

$120,224

Tax Savings (at 28%):

-$64,017

Net Payments:

$440,178

$482,109

Minus Home Equity:

-$218,973

Total Cost After 10 Years:

$440,178

$263,136

Total Savings for Owning 10 Years:

$177,042

Of course, the Irvine Pacific website does not include lost interest on downpayment, costs associated with the maintenance of the house, the insurance cost that would definitely put a dent in that $177k savings over the period of ten years of owning.

If you have made up your mind to buy, and want some reassurance from a third party crunching the numbers in your favor, use the Irvine Pacific calculator. If you are still dillydallying, leaning towards not buying, use the NYT calculator. The number crazy people like me can always use both, and add their own expenses/ savings to the list and come up with their own number. The banks aren’t paying much in interest, the stock market is going through crazy ups and downs that need constant monitoring, so some people might not have second thoughts before locking that amount in the downpayment for the house.

Coming to the floor plan of the house,

Pros:

– California Room! I just loved this concept. May be it was the time of the day I visited, or the well maintained and well planned little yard of the model, it was just an amazing space to spend a morning reading your favorite book, sipping coffee.

– Laundry upstairs, close to the bedrooms

– Two sinks in the secondary bath room

– The wall to wall counter in the kitchen

– Wall of windows in the Great Room, Dining Room and Master bedroom for ample day light.

– Bedroom downstairs, with an attached bathroom, and the entry opens into the great room rather than the long corridors.

Cons:

– The washer in the laundry room shares a wall with secondary bedroom, assuming there isn’t much sound proofing, there will be a lot of noise when the washer is running.

– The Kitchen Island with Dishwasher that opens towards the stove. My gripe continues.

– The work triangle in the kitchen isn’t too convenient either.

– The coat closet door and garage door open into a constricted corridor in “launch room” a tiny space between garage and kitchen. Too far off for the guests to drop their coats, and too close to the kitchen- the smells of the heavenly cooking won’t spare the jackets/coats.

There are four more homes available in this plan, starting from $599,579.

Here is the link to the builder, Irvine Pacific’s website: http://www.villagesofirvine.com/Villages-and-Neighborhoods/Stonegate-East/Residence/Capistrano/Residence-3

Here are a few pictures:

Schools:

When I plug in one of the addresses from the community in “My school locator” on the IUSD website, these are the displayed results.

Elementary School:

As of now, Stonegate Elementary will be the assigned school for this area, but the online school locator tool for IUSD lists “Portola Springs Future School” as the assigned school starting 2014.

Stonegate Elementary (K-6)

100 Honors, Irvine CA 92620

API Rank 10, API Score 954

Cultural Diversity: 46% Asian, 31% White (Data from www.greatschools.org)

Median teacher experience is 15 years and the student to teacher ratio is 23:1

Distance from home: Approximately 1.1 miles.

For more information about the school: http://www.iusd.org/sg/

Middle School:

As of now, the Middle School would be Sierra Vista Middle School. But, 2012-2013 academic year will bring the changes. The new middle school, “Jeffery Trails” will open in September 2013, and accept students from the communities of Stone Gate. It will be located at the corner of Jeffery and Trabuco.

For more information on the new school : (http://www.iusd.org/district_services/facilities_planning_and_construction/documents/PA40MiddleSchoolsite.pdf)

Sierra Vista Middle School (7-8)

2 Liberty, Irvine CA 92620

API Rank 10, API Score 948

Cultural diversity: 47% Asian and 36% White (Data from www.greatschools.org)

Median teacher experience is 17 years and the student to teacher ratio is 29:1

Distance from home: Approximately 3 miles

For more information about the school : http://www.sierravistams.org/

High School:

Northwood High School

4515 Portola Parkway, Irvine CA 92620

API Rank 10, API Score 908

Cultural diversity: 45% Asian and 43% White (Data from www.greatschools.org)

Median teacher experience is 10 years and the student to teacher ratio is 23:1

SAT Scores for 2011: Math: 579 Reading: 640 Writing: 603

Graduation rate: 95%

Distance from home: Approximately 3 miles

For more information about the school : http://www.northwoodhigh.org/

Parks:

Bluebird Park will be the primary park for the community. It is located in the center of the community, making it accessible to people from all sides, and the size is good enough to serve the community.

Personal observations:

Price is an important factor for many while buying a home. While not all these houses are brand new as the Capistrano houses, here is what $550,000-$600,000 would get in other Irvine Villages based on the recent sales:

1. 25 Night Bloom, Irvine CA 92602

4 Bedrooms, 3 Bathrooms/ 1750 SF

Sold for $575,000. (TUSD Schools with Irvine addresses, Detached Condo)

2. 214 Tuberose, Irvine CA 92603

4 Bedrooms/ 2.75 Bathrooms/ 1850 SF

Sold for $602,000.

3. 24 Land Grant, Irvine CA 92618

4 Bedrooms/ 3 Bathrooms/ 2077 SF

Sold for $604,400. (Detached Condo)

4. 37 Wild Trails, Irvine CA 92618

3 Bedrooms, 3 Bathrooms/ 2092 SF

Sold for $525,990.

All of them have their own set of pros and cons, and comparatively, Capistrano homes aren’t as overpriced as some other new homes are. But then, location plays a very important factor here. Capistrano homes are sandwiched between freeways and very busy streets. Air quality and noise levels will be a major concern for anyone planning to live in this community long term. The tall walls might not completely block all the motor vehicle exhaust from entering the community, and since this community is geared towards families with young children, it might be a huge risk for the residents.

Various health studies have shown that living close to major highways and very busy streets might elevate the risk of asthma and reduced lung function in children. Also, there have been associations with cardiac and pulmonary mortality. Most of the studies were conducted in the communities living in 200m of a highway.

The floor plans are good enough, with minor complaints about the kitchen work triangle. The bedrooms and closets in the first plan are very small. The California room will be my favorite aspect of the house. Master bathroom layout of the Residence 3 is designed very well, there is almost no wasted space. The tech room is another favorite. As someone who works from home a lot, I find it easier to be in an open space than be cooped up in a room. Some people like the long unending counters, but I feel it’s easier to work in the kitchen with L or U shaped counters.

What is your favorite part about the homes at Capistrano, Stonegate East?

What “con” did you notice? What would be your ideal blend of the three plans?

Do you agree with the proposed price tag?

Are you assuming that the HOA will remain low in the coming years?

A Review of the Maricopa Tract at Stonegate

Hello IHBers, I am Cubic Zirconia.

One day while researching on the house that we wanted to put an offer on, I stumbled upon IHB, and then religiously followed every post by Irvine Renter. It gave me a good insight on the market condition then, and what to expect in the near future. We moved to Irvine in 2008 from Pasadena, and I have two daughters who go to Irvine schools in Tustin Unified. I have a Masters Degree in Architecture, and worked full-time creating cookie cutter retail stores (Longs Drug Stores mostly) while funding the dream of the cookie cutter house. I write also, thanks to the economy, I write more and design less these days. Real Estate for me is more about the location and schools than the floor plan and the size of the backyard.

Maricopa Tract at Stonegate

Location: On Sand Canyon Ave., between Jeffery and Irvine Blvd. is the Village of Stonegate.

Builder: Irvine Pacific Homes by the The Irvine Company.

Village of Stonegate consists of attached and detached neighborhoods. Here are the five neighborhoods offered:

1. Santa Clara – 1129 to 1322 SF

2. Santa Maria – 1386 to 1614 SF

3. San Mateo – 1636 to 1804 SF

4. San Marcos – 1824 to 2011 SF

5. Maricopa – 2262 to 2974 SF

The elementary, middle and high schools are under IUSD, with all API rank 10 schools and API scores above 900. They offer three floor plans, and a choice of three different elevations for each plan. The community is not gated.

Exploring the Homes at Maricopa (Community Overview):

The Homes at Maricopa are housed in Stonegate, and feature the largest floor plans.

None of the houses back to major streets. They offer three floor plans, and three elevation choices to each plan.

Pricing Sheet as of 1/6/12

All three floor plans offered have a bedroom/ den downstairs with an attached full bathroom, and at least three bedrooms upstairs. The ‘great room’ is also a constant, with ample windows to light up the rooms in natural daylight, doing complete justice to the Irvine weather.

Granite countertops and backsplash, stainless steel appliance and Kohler smart divide sinks, under cabinet lighting and recessed lighting are standards for all the kitchens, and they all feature an island. Except for the Plan 1, all of them have a sink in the kitchen island.

All bathrooms have white cultured marble countertops and Kohler sinks. The secondary bathrooms upstairs also have his and her sinks like the Master bathroom, making it easier for two kids to get ready at the same time. All the laundry rooms have a sink and cultured marble countertops with a six inch backsplash.

All the living rooms have crown moldings, recessed lights and multimedia ports. Also, upgrades have fireplaces, which I doubt will be used much in California weather, but nevertheless make lovely additions to the space.

It will be an ideal home for a family of four, with guests that would need the optional fourth bedroom. Teenage children and older parents come to my mind.

The distance to the elementary school is walk-able, but the middle school and high school are a little far, might not be an easy distance for most kids to bike or walk to school. A family with children in different schools might have to do some serious route planning, with the elementary school starting at 8.15am, middle school at 7.57am and high school at 8.00am.

The freeways 5, 405, 133 and 241 are all in close proximity.

Woodbury Town Center that has almost all the essential stores and services, including Hoag Health Center and LA fitness gym are within walking distance. Within five few miles would be Orchard Hills Village Center, Trabuco Grove Shopping Center, Irvine Spectrum Center and The Market Place. You can also bike to these places.

Here is a break up of Taxes and HOA, with Mello-Roos:

Property tax: 1.05% of sales price

AD tax (Mello-Roos): $2346 per yr

CFD tax(Mello-Roos): $1700 per yr

Other taxes: $156 per yr

Overall tax: 1.5% tax.

HOA due are $110 per month.

Fixed cost for any house in this neighborhood per month would be: Mortgage + Approximately $460 in Mello-Roos (Community Facilities Districts- CFD and Assessment Distrcits –AD) and HOA (Home Owners Association) +Property tax/12 (The current tax is 1.05% of the Sales Price).

Here is an overview of the three plans offered, with some pictures:

Plan 1:

Offers three elevations, in three different color palettes.

Area: 2262 Sq ft approximately

3 bedrooms, 3 bathrooms

Den/ optional bedroom downstairs, and all the other bedrooms are upstairs.

These houses are offered at $786,400.

Fixed monthly cost of this house assuming the sale price of $786, 400 would be $1148 (Property tax + Mello-Roos + HOA).

As with all the houses, this house has a bedroom with a full size bath downstairs, and three bedrooms upstairs. The entry room is inviting, and uncluttered, with only a coat closet and entrances to the great room and optional den/bedroom. All the rooms are well lit, and the Great room has a wall of windows opening into the backyard.

Pros:

  • Bedroom downstairs, with attached bathroom. Useful when parents visit, which most Asian parents do, and also for teenage/adult children needing privacy.
  • Home management center is located between kitchen-laundry-garage, which makes it an ideal spot to dump the paperwork /bills/ keys and all the little things that need attention.
  • The nice flow of area between living and dining. Even though it’s a Great Room, the plan is such that there is a visual break of spaces.
  • Flow of unobstructed daylight throughout the house

Cons:

  • Balcony in the secondary bedroom would be a problem if you have young children. (Plan 1C offers a balcony free option)
  • Laundry is too far from the bedrooms, have to lug around the basket all the way to the other end of the kitchen. But if flooding occurs, it’s downstairs- wouldn’t damage much!
  • Smaller backyard compared to the size of the house.
  • Not a good sized closet; in a house this size, there should have been two- his and hers.

Here are a few pictures of the Plan 1 residence, taken from the model home.

Guest Bedroom:

Guest Bath:

This is the secondary bedroom upstairs. It’s a size suitable for one child, and has a balcony!

The kitchen with recessed lights and all stainless steel appliances, and island. The backsplash is lovely!

The living room with wide windows opening to the patio.

Den:

Downstairs Bathroom:

The Master bedroom, just big enough to house a queen bed and two oversized bedside drawers and a reading chair with a lamp on the other side. Ideally I would like to see a small retreat, or some extra space to make a his/her spot for some personal time.

Master Bath:

Plan 2:

Offers three elevations, in similar color palettes.

Area: 2577 Sq ft approximately

3 bedrooms, 3 bathrooms

Den/ optional bedroom downstairs, and all the other bedrooms are upstairs.

These houses are offered between $866,400 to $872,927.

Fixed monthly cost of this house assuming the sale price of $866,400 would be $1218 (Property tax + Mello-Roos + HOA).

As you enter, you will see the standard den/optional bedroom on your left. The entry is a cluttered space with den, staircase, full size bathroom, garage and the great room opening into it. The Great room is rectangular, and as with other houses at Maricopa, has a wall of windows for light. The dining space is off the kitchen, and the kitchen island houses the sink and the dishwasher. The island is big enough to seat four people. The Home Management center is a part of the Dining space, and makes it a good place to work on homework. Laundry is upstairs, very conveniently located between the bedrooms. The master bath is very spacious, lot of natural lights, and location of the tub between his and her sinks increases privacy.

Pros:

  • A bedroom downstairs is always desirable.
  • The size of the Great room is in sync with the rest of the houses.
  • The bedrooms upstairs are all close to each other, making it easier for people with young children.
  • Laundry upstairs, between the bedrooms.
  • Spacious Master bathroom.

Cons:

  • Kitchen space planning- the dishwasher, when being loaded will obstruct cooking.
  • Optional balconies both open through the secondary bedrooms again, and even though there is a balcony free option, I would love to see a balcony off of Master bedroom.
  • Small closets, compared to the size of the bathroom. With some more planning, they could have played around with the space and created bigger closet, or his and her space.

Here are a few pictures of the Plan 2 residence, taken from the model home.

Master bedroom, again with space just enough for a Queen bed and two oversized bedside drawers, and a small reading space.

Walk-in Closet

The secondary bedroom is small, but I like the height of the window on the wall. With a twin bed and two bedside drawers, the lamp wouldn’t be obstructed with the window.

Third Bedroom

View of the Kitchen Island, which leaves me wondering, how would two people work together here, if one is cooking and one is doing the dishes? The dishwasher clearly obstructs the cook’s reach of pantry and refrigerator.

Kitchen Pantry

Well lit living room, and an obstructed view of the backyard.

Den

Plan 3:

Offers three elevations, in three different color palettes.

Area: 2974 Sq ft approximately

3 bedrooms, 4 bathrooms

Den/ optional bedroom downstairs, and all the other bedrooms are upstairs.

Bonus Family Room/ Optional bedroom.

These houses are offered between $937,620 to $943,879.

Fixed monthly cost of this house assuming the sale price of $937,620 would be $1280 (Property tax + Mello-Roos + HOA).

This plan adds a bonus room with an option of a bedroom with the den/optional bedroom downstairs. The bonus room turned into another bedroom would clutter the upstairs, with a door to the bedroom facing you as soon as you climb up the stairs.

This model provides the option to turn the second bedroom into a retreat for the Master bedroom. A Master bedroom with a retreat would be a great option to have, giving ample space for the “masters” to have their own private space to make hobby space, or a small personal library, or even an office space to work from home. The Master bedroom planning is a little weird, the closets flank the room on both side as you enter, and the bathroom is on the other side of the room. It is also the first room from the staircase.

Pros:

  • Option of the Master bedroom with a retreat will make the master suite spacious and give ample personal space.
  • Optional retreat also enlarges “her” closet, bringing it to a desirable size.
  • The bonus room serves as a great family room for the family to hang out, or even the kids to do homework, play their musical instruments, play video games and watch TV, or just play with their toys.
  • The plan might work well for a couple with older children, with ample privacy to all residents.
  • Walk-in pantry has well planned storage.

Cons:

  • Optional fifth bedroom instead of the bonus room would cram the bedrooms, and hurt the spacious look of the house.
  • Secondary bedroom has the balcony.
  • Dishwasher between the stove and refrigerator.
  • The huge great room that is one big rectangle, with a smaller rectangle of a dining space jutting out. Somehow not very inviting.
  • The distance from entry room to the living room is long, with too many distractions- staircase, den/optional bedroom, bathroom, garage, laundry.

Here are a few pictures of the Plan 3 residence, taken from the model home.

The Secondary bedroom with a desk height window to help do homework in daylight.

The Bonus/ Optional bedroom.

Downstairs Bedroom

Guest Bath

Kitchen

The Living Room

The Master bedroom, again just big enough to house a Queen bed and two bedside drawers, a chair and lamp in the other corner.

Master Bath

Schools:

Here is a brief overview of the schools that will serve Maricopa at Stonegate.

Elementary School:

Stonegate Elementary (K-6)

100 Honors, Irvine CA 92620

API Rank 10, API Score 954

Cultural Diversity: 46% Asian, 31% White (Data from www.greatschools.org)

Median teacher experience is 15 years and the student to teacher ratio is 23:1

Distance from home: Approximately 0.5 miles.

For more information about the school : http://www.iusd.org/sg/

Middle School:

As of now, the Middle School would be Sierra Vista Middle School. But, 2012-2013 academic year will bring the changes. The new middle school, “Jeffery Trails” will open in September 2013, and accept students from the communities of Stonegate. It will be located at the corner of Jeffery and Trabuco. The distance would be approximately 2.5 miles. The “home to school” distance changes, but not greatly to the children in this community. Previously it was roughly 2.8-3.0 miles for Sierra Vista Middle School.

For more information on the new school : (http://www.iusd.org/district_services/facilities_planning_and_construction/documents/PA40MiddleSchoolsite.pdf)

Sierra Vista Middle School (7-8)

2 Liberty, Irvine CA 92620

API Rank 10, API Score 948

Cultural diversity: 47% Asian and 36% White (Data from www.greatschools.org)

Median teacher experience is 17 years and the student to teacher ratio is 29:1

Distance from home: Approximately 3 miles

For more information about the school : http://www.sierravistams.org/

High School:

Northwood High School

4515 Portola Parkway, Irvine CA 92620

API Rank 10, API Score 908

Cultural diversity: 45% Asian and 43% White (Data from www.greatschools.org)

Median teacher experience is 10 years and the student to teacher ratio is 23:1

SAT Scores for 2011: Math: 579 Reading: 640 Writing: 603

Graduation rate: 95%

Distance from home: Approximately 3 miles

For more information about the school : http://www.northwoodhigh.org/

Parks:

Meadowlark Park will be the primary park for the community, and it’s still under construction. It is a decent sized park, which would provide ample space for the children of the community to play, and also make up for the tiny backyard that comes with the house.

Personal observations:

While all three plans are spacious and luxurious, I find them a bit overpriced.

Location is everything. The homes are built such that they don’t back to major streets, and they are walk-able from the shopping center and park. Close proximity to the freeways is also a plus. But as a representative of a typical Irvine family with kids, I don’t think I would go to Trader Joes and come out with a bag light enough to walk with, and I don’t think I will be happy pulling the car out of the driveway, devising a quick route to drop kids to Middle school and High school opening within three minutes of each other (pick up will be another story!). So location doesn’t cut it for me.

My space planning complaints are limited to the remote laundry room in Plan 1, dishwasher disturbance in Plan 2 and Plan 3, “enter the closet” Master bedroom of Plan 3, and of course the balconies of the secondary bedroom. With a young child, I would be scared the curious mind would fall off the balcony. With an older child, I would be worried about uninvited visitors.

Home Management centers are great, away from the television, or even the living space providing private corner in the great room. Backyards are small, but the optional trellis makes it an interesting space to have a small gathering. The entrances are well defined, and not hidden somewhere in the back overpowered by the garage and driveway. There is enough space to personalize, put out some plants, or even a small bench with a few cushions.

My perfect blend would be the Plan 1 great room and living-dining spaces, a plain kitchen island, a small Home Management center close to garage, and the Plan 1 entry room double the size, Plan 2 extra Home Management center for homework purposes, walk in pantry, laundry room location, and the Plan 3 Master Suite with retreat, his and her closets close to the bathrooms, not at the bedroom entrance, with the plan 3 Bonus room.

Construction work is still going on in the neighborhood. There will be noise and dust, and visitors to the new houses. The next phase is planned for release around September. The landscaping work is in progress, so is the park. It might take a couple of years for the landscaping to mature and blend with the neighborhood. But that’s something everyone expects with a new house.

What is your favorite part about the homes at Maricopa, Stonegate?

What “con” did you notice? What would be your ideal blend of the three plans?

Do you agree with the proposed price tag?

Are you assuming that the HOA will remain low in the coming years?

Irvine addresses served by Tustin and Santa Ana schools

Note by zovall: This post is written by an IHB regular, Cubic Zirconia. Her writing has been featured on IHB in the past. She has put together some information regarding what school districts (there are multiple!) serve the city of Irvine and some helpful links. We'd love to hear your comments on the schools as well as her post.

Hello IHB readers,

This is Cubic Zirconia.

I was introduced to IHB in 2008 during my house hunting days. The market was going through a major correction, and nobody knew where the bottom was. MLS listings for short sales would generate interest with a teaser price that wouldn’t be approved by the bank and equity sales would list at an exorbitant price, still in denial that the market was under correction. That was not all, MLS listings would be full of misinformation, like an incorrect school district, the wrong amount of HOA dues, and very vague contact information if it was a short sale. Living outside Irvine and finding a house in Irvine wouldn’t have been easy for us, if not for IHB posts, then written by Irvine Renter. From someone who would religiously read Irvine Renter’s posts every morning to writing a post on IHB, it’s been a huge transition!

The great California sun shines on all of Orange County, but many prefer to buy in Irvine more than other places for two reasons – safety and schools. The public school system is one of the best in Irvine, with test scores higher than the state average, and almost every school with a perfect ten API ranking and Great school rating based on performance (www.greatschools.org).

It is natural to assume that the premium you pay for a house in Irvine will assure a spot in an Irvine school, served by the Irvine Unified School District (IUSD). Your Realtor probably didn’t tell you, and the seller’s Realtor boldly quoted an Irvine school in the MLS listing page, but it’s not so. There are some parts of Irvine that are served by schools with a physical Irvine address, falling under Tustin Unified School District. They are usually referred as the “other side of Culver” with Culver serving as the boundary line. Some even fall under the Santa Ana School District.

Here is the list of schools that fall under Tustin Unified School District, but serve North Park, West Irvine and other western/northern areas of Irvine. You will notice that even though these schools fall under Tustin Unified School District, they have the API ranks and scores comparable to any Irvine school. All of them have special education programs, GATE programs and afterschool programs as well as CDC. They have new and spacious school buildings, well planned and laid out. The teacher credentials and experience are also on par with Irvine schools.

1. Myford Elementary (K- 5)

Address: 3181 Trevino Dr., Irvine CA 92602

API rank 10, and API score of 951 for 2011.

Serves: West Irvine and some other parts of Irvine

For more information: http://myford.tustin.k12.ca.us/

2. Hicks Canyon Elementary (K-5)

Address: 3817 Viewpark, Irvine CA 92602

API rank 10, and API Score of 942 for 2011.

Serves: North Park and some other parts of Irvine

For more information: http://hickscanyon.org/

3. Orchard Hills (Middle School 5-7 for 2011, K-8 planned)

Address: 11555 Culver Dr, Irvine CA 92602

API rank not available (new school), API score of 952 for 2011.

Serves: North Park and some other parts of Irvine

For more information: http://ohhawks.org

4. Pioneer Middle School (6-8)

Address: 2700 Pioneer Rd, Tustin CA 92782

(This was the primary Middle School before Orchard Hills opened)

API rank 10, API Score of 939 for 2011.

Serves: Irvine falling under Tustin Unified School District and parts of Tustin

For more information: www.pioneerwildcats.com

5. Arnold Beckman High School (9-12)

Address: 3588 Bryan Ave, Irvine CA 92602

API rank 10, API score of 866 for 2011.

Serves: Irvine falling under Tustin Unified School District and parts of Tustin

For more information: http://beckman.tustin.k12.ca.us/

SAT Scores for 2011: Critical Reading 548 Math 588 Writing 571

In addition to these schools, there are also two magnet schools in TUSD.

1. Tustin Memorial Academy (K-5)

Address: 12712 Browning Ave, Santa Ana CA 92705

API Rank 10, API Score 962

2. Columbus Tustin Middle School

Address: 17952 Beneta Way, Tustin CA 92780

API Rank 7, API Score 819

A personal note about the magnet schools: Compared to the other schools that serve the area, I found that the two magnet schools fell short in terms of building, planning and parking. The API Scores for the elementary school are in the close range for both the magnet and the regular schools. However, when it comes to Middle Schools, Pioneer and Orchard Hills fare better than the magnet school. Pioneer Middle School was the #1 Middle School in OC in 2010. Also, the schools are further into Tustin, increasing the driving distance for Irvine homes. In my opinion, they are not worth the extra drive. All of the elementary schools in TUSD accepting Irvine kids are gated, with a very controlled exit system at dismissal. I can’t think of the advantage of the magnet schools over the non-magnet schools when it comes to TUSD.

So next time, when you look at a property, no matter what the MLS says, you can always check the school for any given address here:

For those under Tustin Unified School District: http://www.schoolsiteonline.com/schoolsitelocator/?districtCode=76529

Map of the area served by TUSD: http://www.tustin.k12.ca.us/html/schooldirectory/110824-tusd-district-map-e-c.pdf

TUSD Contact Information: 300 South C Street Tustin, CA 92780 • (714) 730-7301

For those under Irvine Unified School District:

http://www.iusd.org/asp-bin/whichschool/

Map of the area served by IUSD: http://iusd.org/enrollment/documents/IUSD_ELEMENTARY_ATTENDANCE_2011_2012.pdf

IUSD Contact Information: 5050 Barranca Parkway, Irvine CA 92604 • (949)936-5000

The story is a little different when looking at Irvine addresses which are served by the Santa Ana Unified School District (SAUSD).

Condos at The Plaza, Central Park West, The Marquee, The Metropolitan and some apartment buildings near the Airport area fall under SAUSD. Here's a glimpse at the portion of Irvine that is served by SAUSD:

To check if an address falls under Santa Ana School District : http://www2.sausd.us/maps/locator1.asp

Full Map of the area served by SAUSD: http://www2.sausd.us/maps/main-v3.asp

SUSD Contact Information: 1601 East Chestnut Ave, Santa Ana 92701-6322 • (714)558-5501

The Santa Ana schools that serve Irvine are:

1. James Monroe Elementary School (K-6)

Address: 471 East Central Ave. Santa Ana, CA 92707

API Rank 6, API Score 839

2. Douglas MacArthur Fundamental Intermediate School (6-8)

Address: 600 West Alton Ave, Santa Ana CA 92702

API Rank 8, API Score 849

3. Century High School (9-12)

Address: 1401 South Grand Ave, Santa Ana CA 92705

API Rank 1, API Score 615

The Santa Ana schools are no match to Irvine schools in the test stats. Not only that, the parent and Great Schools performance reviews also fall short. The teacher credentials and experience meet or exceed the state average, but the API leaves a lot to be desired.

Like I said before, often there is more than meets the eye, or in this case, more than the MLS states. Since one of the reasons to move to Irvine is to take advantage of the great public schools in the area, it’s good to tread with caution and see if the property you are putting an offer on falls under the school district you assumed it is in.

Was this information useful?

Are there any specific School District related topics that you would like to read on IHB?

Reports and analysis about each school in detail?

The review of special programs offered?

A post about Irvine Schools (IUSD)?

Please let us know!