New Homes "Coming Soon" to Woodbridge

A lot of building has been happening in Irvine recently. However, these new homes have been in new neighborhoods instead of Irvine’s well-established neighborhoods. This is about to change. William Lyon Homes has announced that they will build 48 new single-family detached homes in Irvine’s well-established neighborhood of Woodbridge. These new homes (The Branches) will be the first new homes built in Woodbridge in 15 years and will be located in the North Lake area near Fallbrook Park.

Here are some more details:

  • Limited offering of 48 single-family homes

  • Three detached, two-story floorplans

  • Approximately 2,209 to 2,542 square feet

  • 3 to 5 bedrooms, 2.5 to 3 baths

  • No Mello Roos and low HOA (http://wva.org/link/linkshow.asp?link_id=351781) dues

  • Anticipated from the $900,000s

As selling points, William Lyon Homes touts the North Lake location, no Mello Roos fees, low HOA dues, and being within the Irvine Unified School. They also point out that these homes will be near business, shopping, entertainment, and John Wayne Airport.

Some of the comments I have been reading have these criticisms: the yards will be too small, the design is “hardly distinguished”, and the price is too high considering the price of existing Woodbridge homes. As far as when these homes will be available, the only statement that I am finding is “coming soon.”

What do you think? Are these homes something that you would consider?

Discuss at Talk Irvine: http://www.talkirvine.com/index.php/topic,3165.0.html

Open House Review: 3 Santa Comba

Polishing Assets in Westpark

3 Santa Comba, $899,900

Driving into Westpark, I found 3 Santa Comba at the end of a quiet cul de sac. Built in 1996, this Montage home is new to the market, and attracted quite a bit of interest at the open house.

Reviewing the numbers, this contemporary single family home has 5 bedrooms and three baths with a 3 car garage in 2,400 square feet on a 5,094 sq. ft. lot. The price per square foot is $375, and HOA dues are $47. There is Mello Roos tax.

From the street, curved brick trimmed steps lead to double doors that take you into a wood entryway and on into a large, carpeted living room, nicely punctuated with a cathedral ceiling and many windows. This bright sweep of space suggests an active family lives here and entertains frequently. With the dramatic ceiling and windows, this room is really open to interpretation. I could see a variety of furniture groupings, and a formal dining area at the end, overlooking outside greenery.

Continuing on through the living room, to the right there is a natural mix of kitchen, casual dining area and family room with fireplace and shutters. Hardwood floors up the appeal, and the whole area works very well. The kitchen blends in with sleek tile, newer stainless appliances and a comfortable breakfast bar.

From the family room, parties can spill out onto the patio through the French doors. The backyard is very green and private.

The carpeted stairway to the right of the main entrance takes you to a roomy master bedroom, with separate Roman shower and tub. One of the five bedrooms has been turned into an inviting office/study with French doors.

Specifics for this 2 level contemporary:

Bedrooms, 5

Baths, 3

Property type, Single Family

Three car garage

Central furnace, air, ceiling fans

Size, 2,400 sq. ft.

Lot size, 5,400 sq. ft.

Price/sq.ft., $375 sq. ft.

Detached/no common walls

Spanish clay tile roof

Year built, 1996

Neighborhood, Westpark

On the market, 20 days

Association pool, spa

Considerations and Comparisons: The solid assets of ample space and a good floor plan, coupled with a prime location in Westpark with excellent parks and award winning schools, gives this home market energy. A little polishing could take it even further. The backyard landscaping could be upgraded, with spa, barbecue, or flower beds. Also, the stairway carpets could be replaced. At this price, comparisons could also be made with homes in nearby Woodbridge of similar size. As always, the buyer will weigh all of the factors of price, age, condition, location, and that elusive quality of “what works” for them.

Who will be the next host here? Families or professional couples who entertain a lot and have frequent guests, grandkids or hobbies will see this as a great operating base. The home is close to the airport, and freeways, yet quiet and private.

Recent sales in the area: 27 Bluejay sold for $912,00 In July. And 24 Meadowgrass sold for $745,000 in August. Nearby current listings: 12 Santa Eulalia is listed at $1,099,000; 10 Bluejay is listed at $749,000.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3158.0.html

The Populars of 92602

The North Park guard-gated community boasts of properties ranging from $300s to $1.5 Million. It’s the area between Bryan, Portola Parkway, Culver and 261 Toll Road. The lower end listings talk about the proximity to the freeway, and the ease of access to the main streets. The higher end talks about the proximity to the Peter’s Canyon Trail, part of the Mountain to Sea trail. Today we will look at the high and the low in this area, and the monthly cost of owning them.

The High: 39 Vacaville, Irvine CA 92602

Listing Price: $1,449,000

Sales History:

09/29/2004: $1,100,000

08/31/2001: $652,000

Estimated Monthly Payment: $6,758

Mortgage at 3.25%: $5,048

Property Tax at 1.0595%: 15,352 Annually

Mello Roos: $3,247 Annually

Tax + Mello Roos Monthly: $1,550

HOA Monthly: $160

Property Details:

Builders Tract Code: Brentwood/ BRTW-2

Beds/ Bath: 6 Beds/ 3 Baths

Area: 3,500 SF/ Lot Size 7,500 SF

Price/ SF: $414

The low: 305 Terra Bella, Irvine CA 92602

Listing Price: $315,000

Sales History:

12/29/1999: $231,000

Estimated Monthly Payment: $1,954

Mortgage at 3.25%: $1,162

Property Tax at 1.0595%: $3,338 Annually

Mello Roos: $1,246 Annually

Tax + Mello Roos Monthly: $382

HOA Monthly: $410

Property Details:

Builders Tract Code: Terra Bella

Beds/ Bath: 2 Beds/ 2.5 Baths

Area: 1,167 SF

Price/ SF: $270

So those were our highs and lows. The lowest prices condominium’s Mortgage, Property Tax and Mello Roos are almost equal to the highest priced Single Family Residence’s Property Tax and Mello Roos. But, the lower priced condominium pays almost two and half times the HOA dues as the higher priced home. Of course the HOA dues cover a lot of maintenance costs for the condominium as opposed to the single family residence.

What are your thoughts?

Why are the lower priced properties lining up as short sales while the higher priced properties just take a loss and move on?

Comment below, or share your thoughts on Talk Irvine.

Closed Sales from 9/20/2012 to 9/26/2012

Date Sold Address Zip Tract Sold Price Beds Sq Ft
Airport Area
9/24/12 2323 Scholarship 92612 Avenue One $300,000 2 1037
9/25/12 1168 Scholarship 92612 Avenue One $455,000 3 1340
9/26/12 3040 Scholarship 92612 3000 The Plaza $1,020,000 2 1930
El Camino Real
9/24/12 14881 Geneva St 92604 Greentree $392,200 2 1700
9/26/12 10 Butterfield 92604 Deerfield Townhomes $475,000 3 1700
Northpark
9/23/12 14 Apple Vly 92602 Evergreen $690,000 4 2477
9/26/12 42 Chula Vis 106 92602 Monterey $447,000 3 1500
Northwood
9/20/12 302 Streamwood 92620 Irvine Springs $143,000 1 639
9/21/12 2 Carlyle 92620 Northwood Meadows $590,000 4 2193
9/21/12 3 Delantera Dr 92620 Sundance $365,000 2 1462
9/24/12 7 Christamon 7 92620 Square $350,000 3 1383
9/25/12 54 Fillmore 92620 Courtside $565,000 4 1958
9/26/12 10 Wedgewood 92620 Tremaine $698,000 3 1561
Orangetree
9/20/12 37 Tarocco 92618 Orchard Glen OT $300,000 2 995
Portola Springs
9/24/12 115 Silverado 92618 San Carlos COURT $450,000 3 1756
Quail Hill
9/25/12 59 Reunion 92603 Ambridge $496,000 2 1656
9/26/12 106 Reunion 92603 Sage $450,000 2 1031
Rancho San Joaquin
9/24/12 4 Navarre 126 92612 RSJ Villas $410,000 2 1144
Turtle Rock
9/20/12 3 Whitewater 2 92603 Glen Townhomes $470,000 2 1648
9/21/12 5972 Sierra Siena 92603 Broadmoor $915,000 4 2020
9/21/12 133 Starcrest 92603 Crest – Standard Pacific $1,630,000 4 2987
University Park
9/21/12 12 Whitewood Way 92612 Park II (In Village Park) $555,000 3 2303
University Town Center
9/20/12 147 Stanford Ct 92612 Princeton Townhomes $365,000 2 978
9/24/12 2 Exeter 13 92612 Columbia Square $248,000 1 768
Walnut
9/24/12 14692 Oak Ave 92606 College Park $585,000 5 2231
West Irvine
9/25/12 17 SAGAMORE 92602 Andover $460,000 3 1400
9/26/12 5 Easthaven 92602 Sheridan Square $800,000 4 3250
Westpark
9/20/12 10 Andalucia 92614 Sorrento $855,000 4 2450
9/20/12 105 Costero Aisle 92614 other $349,000 2 900
9/21/12 4 Bahia 92614 Promenade $707,000 3 1709
9/24/12 53 Festivo 92606 Cortina $875,000 5 2600
9/25/12 166 Alicante Aisle 193 92614 Tiempo $295,000 2 1000
9/25/12 17571 Wayne Ave 92614 Culverdale $680,000 4 2350
Woodbridge
9/20/12 168 W Yale Loop 1 92604 Estates $625,000 4 2155
9/20/12 24 Rockwood 92614 Parkview $340,000 2 1130
9/20/12 3 S Springbrook 63 92614 Seasons $520,000 3 1358
9/24/12 218 Greenmoor 92614 Stonegate $290,000 2 978
Woodbury
9/20/12 49 Concierto 92620 Santa Barbara $450,000 2 1850
9/21/12 59 Concierto 92620 Treo $535,000 3 2026
9/24/12 61 Sable 92618 Woodbury East $511,000 3 1782

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3150.0.html

Open House Review: 31 Iceberg Rose

If you are interested in 31 Iceberg Rose, you’d better move fast. While I was there for today’s open house, I saw two different people writing offers. This former model is a short sale and, with a reduced price, it is finally seeing some seriously interested buyers.

The basics:

Asking Price: $460,000

Bedrooms: 3

Bathrooms: 2.5

Square Footage: 1750

Lot Size: n/a

$/Sq Ft: $263

Days on Market: 110

Property Type: Condominium, End Unit

Year Built: 2006

Community: Woodbury

HOA dues are $325 per month and there are Mello Roos taxes.

31 Iceberg Rose is a short sale that the owners originally tried to sell on their own. With an asking price of $570,000, there weren’t any offers. The price has since been reduced to $460,000, bringing it in line with recent comps.

While this is an end unit, I found it awkwardly situated. Instead of facing either the street or another row of homes, the front door of this unit faces the garages from a perpendicular row of homes. When you enter through the front door, the garage door is to your left and a staircase immediately in front of you takes you up to the actual home, which is all on one level. A coat closet is situated partway up the staircase.

At the top of the stairs, the bedrooms are all to the right and the great room is to the left. The great room has tiled floors throughout the living room, kitchen and breakfast nook. A large wall of built-ins anchors the living room. The house isn’t currently furnished and I had a hard time imagining it as a cozy room. A balcony off the living room has space for a small table and a couple of chairs, but the view is of the neighbors’ garages.

The kitchen is narrow, with an island separating it from the living room. It has granite counters, stainless steel appliances that include a four-burner stove, and attractive mocha-stained cabinets. While it does seem to have ample cabinet space, the counter space is limited. Because it is so narrow and not really a separate room, it feels very small. There is a breakfast nook off to the side that serves as the home’s only dining area. Down a short hallway, I found a laundry room, half bath, and a pantry.

The first bedroom off the top of the stairs is the master, though I didn’t realize that when I first walked in. The room itself is comparable in size to most secondary bedrooms and it wasn’t until I saw the bathroom that I realized it was the master. The bath features a separate shower and tub, two sinks, and two walk-in closets. The bedroom has a view of a park and pool.

The other two bedrooms are average sized. One has a walk in closet; the other has a standard closet and a small balcony. They share a bathroom with two sinks and a shower/tub combo. All of the bedrooms are carpeted. The bathrooms have tile floors and counters.

This home is in good condition and clearly has interested buyers, but the small master bedroom and kitchen and the cold-feeling living room were big turnoffs for me. However, if it suits your style, I would get all of your paperwork in order and call the realtor ASAP.

UPDATE: 31 Iceberg Rose is now pending.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3142.0.html