Category Archives: Real Estate Analysis

Beige Ruth Sisters

This week we will look at two houses in North Park Square, the sister of the guard gated North Park community without the gates and guards. They have the same floor plan, they are on the same street, and none of them back major streets like Bryan or Culver. Both are standard sales, and both are in great condition. They are walk-able from Beckman High School, and Hicks Canyon Elementary. Orchard Hills Middle School would probably call for a bike though. The Market Place is within a mile.

Both are “Rutherford” homes, in a different shades of beige.

35 Bella Rosa, Irvine CA 92602

41 Bella Rosa, Irvine CA 92602

I love the main entrance via Porch. As you enter, the office is on your left, followed by the powder room. The living room comes next, and on your right is the entry to the garage, laundry room and staircase to the bedrooms. The Dining room has access to the courtyard as well. Then comes the kitchen and breakfast nook, followed by the Family room. The Master Bedroom is the last room, and on the second floor we have the other two bedrooms with a small desk area. Personally, the layout is a long and boring to me. The powder room opens in the entry area. The laundry room and dining room share a wall. The breakfast nook and shower share a wall. So, unless you are one of those people who don’t like the thud-thud of jeans load while you eat, or the white noise of a shower on the other side of the wall, it will be hard to eat in peace.

Here is a quick comparison of the fixed monthly costs of owning one of the Ruth homes:

Address

35 Bella Rosa

41 Bella Rosa

Listing Price

$979,800

$919,000

Beds/Bath

4 Beds/2.5 bath

(3 bed rooms and office)

Area

2600 SF

Price/ SF

$377

$353

Year Built

2003

2002

Builder Information

Tract Code: RUTH

Builder Name: Shea Homes

Elementary School

Hicks Canyon Elementary (K-5)

Address: 3817 Viewpark, Irvine CA 92602

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

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

Middle School

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.

For more information: http://ohhawks.org

High School

Arnold Beckman High School (9-12)

Address: 3588 Bryan Ave, Irvine CA 92602

API rank 10, API score of 866 for 2011.

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

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

HOA Dues

$217 Monthly

$217 Monthly

Down Payment

$195,960

$183,800

Monthly Mortgage

(30 Yr Fixed at 3.875%)

$3,686 Monthly

$3,457 Monthly

Property Tax (1.0595%)

$ 10380 Annually

$ 865 Monthly

$9736 Annually

$ 812 Monthly

Mello Roos

$3018.94 Annually

$ 251 Monthly

$ 3018.94 Annually

$ 251 Monthly

Monthly Fixed Costs

$5019 Monthly

$4737 Monthly

Which house would you buy?

What are your views about the floor plan?

Is the $60,000 price difference justified?

If the lower priced property sells first, will the buyer for the other house have a hard time acquiring a good loan?

Share your views below or on the Talk Irvine Forums.

Open House Review: 35 Bella Rosa

Today I visited a home in the Bella Rosa community of Northpark Square. This gated community is quiet and nicely maintained. The realtor described the home as “perfect for empty nesters,” so I went into it with that in mind. Here’s what I found…

The basics:

Asking Price: $979,800

Bedrooms: 3 (plus office and den)

Bathrooms: 2.5

Square Footage: 2,600

Lot Size: 4,831

$/Sq Ft: $377

Property Type: SFR

Year Built: 2003

Community: Northpark, Bella Rosa

There are two sets of HOA dues, for a total of $217 per month, plus Mello Roos.

Downstairs, I found the rooms to be mostly light and bright, with pretty hardwood floors and lots of windows. The den at the front of the house is perfect for a home office, as it is somewhat secluded from the rest of the rooms. Moving down the hall, I passed a formal living room and dining room. I then came to what appeared to be a second dining room, but is actually the breakfast nook, set across from the kitchen in an alcove large enough to be its own room. The kitchen is large, but lacks many of the features that are common in newer homes. It doesn’t have an island and the appliances are white, rather than stainless steel. On the plus side, it does have a double oven, a pantry, and lots of cabinet space. The kitchen opens to a large family room with a full wall of built-ins and several big windows.

As with all of the homes in the Bella Rosa tract, the master bedroom is downstairs. This is why the home is considered ideal for empty nesters. Pros: The room is large, with a nice-sized bathroom and closet, but not as outrageously huge as the masters in many other new homes. There is very little wasted space. Cons: the bedroom is right next to the family room, so noise would be a factor if one person is still up watching TV when the other goes to sleep. It also didn’t feel as bright as the other rooms downstairs.

Moving upstairs, there are two average-sized bedrooms and a top-of-the-stairs den/office area with a built-in desk. The rooms share a full bathroom. If you are an empty nester, the upstairs suite is the perfect place for your children and grandchildren when they visit. The setup will also work for a family where the children still live at home, assuming the parents are comfortable sleeping on a separate floor.

This home has both a courtyard and a backyard. Both are paved, with no grass. As with the home I toured last week, I would rather have had one large backyard than two smaller outdoor spaces. The courtyard was empty, proving that there is little use for it.

After viewing the entire home and considering it both for a family and for empty nesters, I can honestly say that I don’t know think it’s the ideal setup for either one. For a family, I prefer the master bedroom to be on the same level as all or most other bedrooms, and to have a large backyard with a grassy area. For empty nesters, it seems too big and too expensive, unless they have very frequent overnight visitors. If I was going to buy a 2600 square foot house, I would rather get one just across Culver from Northpark Square in Northwood. The same size house comes with a bigger yard, lower HOA dues, no Mello Roos, Irvine schools, and a lower price tag.

Discuss below or on Talk Irvine.

Artist in Residence: Turtle Rock Glen Townhome

Start with a prime location, then pick a skilled artist to interpret the setting. That was my take on Sunday’s open house at 3 Whitewater #2 ($510,000). From the outside, this townhome blends right into the natural hillside surroundings in a secluded area of Turtle Rock, just minutes from the University of California Irvine.

But as you step inside, be prepared to be intrigued. The home is meticulous and the added detail in art is extensive. The open loft floor plan lends itself to the strategic placement of art and the owner, who has lived here 17 years, has obviously enjoyed the space and made the most of his surroundings.

The den has become his studio, and his three dimensional art work has been used to advantage throughout the home. Most of the effects are from the artist’s perspective, and the results are dramatic.

It was definitely my cup of tea, but you have to see it to make your call.

Farrow and Ball organic paint has been used with hand done sealed floors. Plants, fabrics, individual pieces of art, special door treatments, musical instruments, and dividers all make the most of the high ceilings, art lights, clerestory windows, and added special lighting.

Natural Assets and Updates: This place has “good bones,” no matter what your artistic leanings. A very appealing floor plan, desirable end location, and an inviting natural setting set the tone.

  • The home was built in 1977 and has 1,648 square feet with views from the windows, patio and two balconies. The upstairs has a large den/studio/second bedroom with patio and a master bedroom with a sitting area, balcony, updated bathroom, and two walk-in closets.

  • The kitchen has been remodeled with new appliances, white cabinets, tiled floors, counters and recessed lights. The formal dining room has an art treatment floor and hill views that open to a private yard. The living room has high ceilings, fireplace with an upgraded mantel, and patio access. There are art lights everywhere.

  • Hardware has been replaced throughout. The two car attached garage has a new epoxy flooring. There is a newer water heater and plumbing, newer air conditioning and a new roof in 2011.

Detractions: The wood stairs are creaky. The overall space is a little tight. This is made less apparent by all of the open light and outside views. But I still found myself wishing for a little more patio space, another bedroom.

Location: The community is prime Turtle Rock with 142 detached homes, 198 condominiums and townhouses. There are walking, biking, hiking trails, pool, tennis courts, and the investment enhancing overall halo effect of Turtle Rock. The seclusion achieved in a gated community exists here, with the bonus of easily reached urban connections like South Coast Plaza, and the Irvine Spectrum, award winning schools, and a thriving academic community nearby. Association dues are $498. There is no Mello Roos Tax.

Recent Sales Comparisons Nearby in Turtle Rock:

  • Across the way off the central courtyard, 6 Whitewater is listed as sale pending at $528,000 with backup offers accepted. Three bedroom, 2.4 bath, 1961 sq. feet. HOA dues $495. Split level with city lights and hill views.
  • Listed as just sold May 1, 34 White Water, 32 Cool Brk, $640,000 – 3 bedrooms, 2.75 baths, 2077 sq. feet. HOA: $500. Hill, tree top views.

What seals the deal? Who belongs here? This could be a welcome retreat for active people who treasure their solitude, outdoor time, and natural surroundings. For an individual or couple who travel frequently, it would be very workable. They could just lock the door and go. Writers, artists, and professionals who need a home office, could tailor the space to fit.

Discuss below or on Talk Irvine.

Tustin, but Irvine Schools

Beginning of the year, I wrote an article about Irvine homes that fall under Tustin School District, or sometimes under Santa Ana School District. But, there are homes in Tustin that are served by Irvine School District too. The area is Tustin Field.

Tustin Field is a community in the 92782 zip code of Tustin. 61.1% of the housing inventory is owned, 34.8% is rented. Annual residential turnover is 57% and 12% of the community is in more than five years of residency. About 80% of the community has college education. 77% is white collared, and 23% is blue collared workforce. Median income is $108,431. Overall crime rate is 0.8, below the national average of 1. The nearest shopping center for Tustin Field is The District.

Today, we will look at two properties around 3000 SF in Tustin Field.

16603 Sonora St, Tustin CA 92782:

1334 Sun Dial Drive Tustin, CA 92782

Floor Plan available here

Address

16603 Sonora St

Tustin, CA 92782

1334 Sun Dial Dr

Tustin, CA 92982

Listing Price

$1,050,000

$869,000

Beds/ Bath

5 Beds/ 4 Bath

4 Beds/ 3.5 Bath

SF Area

2975 SF

2945 SF

Price/ SF

$353 /SF

$295 /SF

Year Built

2006

2005

Schools

Elementary School: Stone Creek Elementary,

2 Stone Creek So, Irvine

Middle School: Lakeside Middle School,

3 Lemon Grass, Irvine

High School: Woodbridge High School,

2 Meadow Brook, Irvine

Previous Sale

Jul, 2006: $1,367,000

Oct, 2008: $845,000

Aug, 2005: $1,034,500

Jan, 2010: $830,000

Building Information

Tract Name: Westborne

Tract Code: WEST, 1

Tract Name: Bennetts Place

Tract Code: BENP, B

HOA Dues

$185

$150

Down Payment (20%)

$210,000

$173,800

Monthly Mortgage

(30 YR Fixed, 3.875%)

$3,950

$3,269

Mello Roos

$7,652 Annually

$8,323 Annually

Property Tax

$9,640 Annually

$3,595 Annually

Monthly Mello-Roos+Tax

$1,441 Monthly

$993

Fixed monthly cost of Owning

$5,576

$4,412

Would you buy in Tustin Field?

The area is surrounded by major streets like Jamboree and Harvard. Marine Corps Air Station is in the vicinity and it was in use until 1999. The train passes through the area. The potential effects of air pollution and ground pollution in the area have been discussed in the media and Talk Irvine before. Would these factors affect your decision?

Share your thoughts with us. Discuss below or on Talk Irvine.

Woodbury Open House Review: 75 Fanlight

Usually it’s easy to tell the difference between a model home and a house that someone is living in. But when I visited 75 Fanlight in Woodbury, my first thought was that it might be staged (upstairs, however, it became obvious that the home is currently occupied). With upgrades throughout, this home is gorgeous and move-in ready.

The basics:

Asking Price: $1,329,800

Bedrooms: 4

Bathrooms: 4

Square Footage: Approx 3,500

Lot Size: 5,092

$/Sq Ft: $380

Property Type: SFR

Year Built: 2006

Community: Woodbury, Mille Fleurs

The HOA dues are $105 per month and there are Mello Roos.

Let’s start with the things I like most about the house. Upstairs, there are three bedrooms and a large bonus room. Each bedroom has its own en-suite bathroom, so you never have to worry about kids fighting over the shower. This is a huge plus for anyone with teenagers. The secondary bedrooms are a bit small, but both had chair rails, giving them a cozy, cottage-like feel. Both rooms are right off the bonus room, creating a perfect suite for children or teens.

Just down the hall, the master bedroom is large and bright. As with most new houses, it comes complete with an enormous bathroom and walk-in closet. There are built-ins throughout and plenty of room to create a relaxing retreat for busy parents. All of the rooms upstairs have recessed lighting, another plus in my book.

Moving downstairs, the house loses some appeal for me. While I prefer a very open floor plan where rooms flow into one another, these rooms are very broken up. Everything comes off of one long hallway leading to a great room at the end. Distressed hardwood floors span much of the downstairs, with the exception of carpeting in the family room and the downstairs bedroom. A big design flaw: the dining room isn’t adjacent to the kitchen. The powder room is down another long hallway, not really convenient for guests if you’re entertaining.

One glance in the kitchen, however, and you can see that the downstairs isn’t a total wash. It is a chef’s dream, featuring an eight-burner stove, a double oven, a built-in fridge and a sink in the island (which has a cute bookshelf on one end). The adjacent family room is bright, but leaves little options for set up, as the walls are taken up by window, built-ins, and a large fireplace.

The backyard is small, but has a nice grassy area and a built-in BBQ. The home also features a small courtyard off the main hallway, between the formal living room and the dining room. I would have liked to see these two outside spaces combined into one large area though, rather than breaking it up as they did.

So what’s the verdict? Would I spend over $1.3 million on this home? No. For that kind of money, a house has to be perfect. And while this one is gorgeous and has plenty of bedrooms, an office, and a bonus room, it just feels too closed off downstairs and a touch too formal. It might be ideal for a family with older children, but not one with little kids.

Discuss below or on Talk Irvine.