Tuesday, July 31, 2012

Irvine Housing Blog

Irvine Housing Blog

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Open House Review:  18 Southern Wood

Posted: 31 Jul 2012 05:00 AM PDT

Best Priced Single Family Home in Turtle Rock Hills

18 Southern Wood: $980,000

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

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

As you enter a tiled entry, with a small garden court,  there is a large airy living room with fireplace on the right, and  a sunny formal dining room on the left.  

Making the most of 2,436 sq. ft., the floor plan creates a nice circular flow through the house, from living room to family room, dining room to kitchen and on to the patio and garden. Overall the feeling is inviting and relaxed. This is a house that the owners have obviously enjoyed.

In the back of the home, the view and the garden shine. Just right for fresh produce and flowers from the garden, and the preparation of festive meals, this is clearly the place for the family to hang out.  There is a  family room with  fireplace,  comfortable breakfast nook with built in cabinets,  and 2 patios, a  covered one,  and a bricked one below.  Beyond the patios the garden is filled with flowers  and a gorgeous view stretches off into the distance. 

The adjacent kitchen has been remodeled with sleek cabinetry and granite counters.

There are 3 bedrooms and two baths upstairs. The master suite has a new deck with a sublime view, just right for morning stretches, and evening views of the sky.  The master also has a walk in closet, dual vanities and a soaking tub. One of the other bedrooms is being used as a computer room/office. 

There is an attached double garage with two parking spaces and the laundry is inside.

Specifics for the two properties: 

  18 Southern Wood, $980,000                     10 Windflower, $1,350,000
Type Residential, Single Family Residential, Single Family
Beds 3 4
Baths 2.5 3.5
Lot Size 10,000 Sq Ft 5046
Square Footage 2436 2956
$/Sq. Ft $402 $457
Views Canyon Hills, Mountain, Panoramic Canyon Hills, Turtle Ridge
School System IUSD IUSD
Attached? Yes; 1 common wall Yes; 1 common wall
Mello Roos No No
Assocation Fees: $99 $99
Year Built: 1979 1978
Days Listed 7 52
Community Turtle Rock Hills Turtle Rock Hills

Considerations and Comparisons:  Starting with the same basic floor plan, but totally different lot sizes, on quiet cul de sac streets,  these two homes  offer great schools, great views and ultimately, great choices.  18 Southern Wood has a 10,000 square foot lot, 2,436  square ft. interior, remodeled kitchen, panoramic canyon and mountain view, new deck off of the master suite, bricked patio, lavish garden, and some nice upgrades.

10 Windflower, has a 5,046 sq. ft lot with  2,956 sq. ft. home that was completely remodeled in 1993.  Now there’s  a fourth bedroom,  a fireplace and view window in the master suite, oak floors, butler area next to the dining room, French doors, window treatments, window seat and custom fireplace in the living room, and custom staircase.  The home’s enlarged windows make the most of the view and a fire pit and jacuzzi complete the backyard refuge.

Essentially,  the question is all about the buyer’s choice.  Is a turnkey extensively remodeled gem just the ticket, or would it be better to start with a lower price and some beautiful assets and decide what’s next?

Who will choose 18 Southern Wood?  Someone looking for a great spot in Turtle Rock Hills with a first class view, excellent schools, and great parks and services, will see this as a perfect fit.  Someone weighing price and assets and considering expansions  may see this as opportunity. And would be gardeners, or old hands, will want a second look at this one.

Nearby locations recently sold:    14 Southern Wood with 3 bedrooms, 2.5 baths sold for $970,000 in June; 31 Sycamore Creek with 3 bedrooms, 2 baths sold for $925,000 in April.  Nearby properties currently listed:    24 Southern Wood with 4 bedrooms, 3 baths is listed at $1,198,000;  31 Morning Glory with 3 bedrooms, 2 baths is listed at $1,150, 000.

Discuss below or on Talk Irvine.


Monday, July 30, 2012

Home Architectural Design

Home Architectural Design


Life in spiral by Hideaki Takayanagi

Posted: 30 Jul 2012 06:23 AM PDT

The main concept for this house is "A Spiral Porch in Tokyo" – challenging to open (or close) the privacy to urban environment. As the "Porch" was an essential traditional Japanese house and due to the expensive lands in Japan, Hideaki Takayanagi creates the brand-new Engawa. Very narrow site forced to form 3-dimensional (spiral shaped) [...]

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Irvine Housing Blog

Irvine Housing Blog

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Doubling in Northwood Pointe

Posted: 30 Jul 2012 05:00 AM PDT

If somebody had offered me to give me more than double of my investment in seven years, or at least double it in twelve years, recession notwithstanding, I would have scoffed at the idea. But that’s exactly what two real estate investments have paid off in Northwood. From their initial price of around $600k in 1999/2000, both have managed to climb steadily to their offered price around $1.4 million today.

 

14 ARBORWOOD, IRVINE CA 92602

Beds: 5
Baths: 3.5
Area: 3,700 SF
Price/SF: $378
Lot Size: 7,172 Sq. Ft.
Year Built: 2000
Builders Tract Name: Somerton
Builders Tract Code: SOMT
Builders Model Code: 3
Property Type:Residential, Single Family
Style:Two Level, Mediterranean
View:Orchard/Grove, Pasture, Trees/Woods
Community: Northwood County

Sales History:
Jul 09, 2012 Listed (Active) $1,399,900
Jan 29, 2007 Sold (Public Records) $1,450,000
Sep 29, 2000 Sold (Public Records) $601,000

Monthly expenses:
Mortgage: $5029
Home Owner’s Association: $150
Property Tax + Mello Roos:  $1265 Monthly ($15,178 Annually)

Fixed Monthly Expenses: $6444

9 GARNET, IRVINE CA 92602

Beds: 4
Baths: 3.75
Area: 3,700 SF
Price/SF: $386
HOA Dues: $156/month
Lot Size: 6,200 Sq. Ft.
Year Built: 1999
Builders Tract Name: Somerton
Builders Tract Code: SOMT
Builders Model Code: 4
Property Type:Residential, Single Family
Style:Two Level, Mediterranean
Community: Northwood

Sales history:
Jul 25, 2012 Listed (Active) $1,429,000
Jun 01, 2007 Sold (Public Records) $1,650,000
Sep 10, 1999 Sold (Public Records) $600,000

Monthly expenses:
Mortgage: $5,133
Home Owner’s Association: $156
Property Tax + Mello Roos: $1288 Monthly ($15,450 Annually)

Fixed Monthly Expense: $6577

My view:

A few hundred here, and a few hundred in monthly expenses do not make a difference for a buyer of these properties, but the floor plan does. Both the houses are beautifully upgraded and maintained. But 9 Garnet with it’s grand staircase steals the show.

Which one would you buy?
Do you look for elements of grandeur when you spend more than a million on the house?


Saturday, July 28, 2012

Home Architectural Design

Home Architectural Design


House Lago en el Cielo by David Ramirez

Posted: 28 Jul 2012 06:44 AM PDT

House Lago en el Cielo by David Ramirez: The house ¨Lago en el cielo¨ is a single family housing Project, located less than 30 minutes from Medellin, Colombia. This house, projected in two levels lets you enjoy a privileged view over La Fe dam, and its location on the land was conceived to allow you [...]

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Friday, July 27, 2012

Home Architectural Design

Home Architectural Design


Port Ludlow Residence by FINNE Architects

Posted: 27 Jul 2012 05:52 AM PDT

The Port Ludlow Residence is a compact, 2400 SF modern house designed by Nils Finne of FINNE Architects on a wooded waterfront property at the north end of the Hood Canal. The main living volume is completely glazed that opens up to a slightly raised wood deck, creating a seamless indoor-outdoor space. During the warm [...]

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Irvine Housing Blog

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

Posted: 27 Jul 2012 05:00 AM PDT

Date Sold Address Zip Tract Sold Price Beds Sq Ft
Airport Area            
7/19/12 3141 Michelson DR 405 92612 Marquee @ Park Place $350,000 2 1297
7/23/12 2140 Scholarship 92612 Avenue One $210,000 1 725
             
El Camino Real          
7/19/12 1 Black Oak 92604 Smoketree $455,000 3 1172
7/25/12 25 Snowberry 32 92604 Deerfield Townhomes $370,000 3 1250
             
Northpark            
7/25/12 1302 Terra Bella 92602 Terra Bella $422,000 3 1614
             
Northwood            
7/19/12 38 Potomac 92620 Glen (NW) $650,000 3 2400
7/19/12 618 Timberwood 92620 Collage $345,000 2 1270
7/20/12 6 Urbino 92620 Windstream $922,000 4 3268
7/20/12 212 Garden Gate Ln 92620 Glenneyre @ Lanes End $410,000 2 1039
7/20/12 324 Monroe 182 92620 Timberline $377,000 2 1200
7/23/12 15 Hermosa 92620 Windstream $780,000 4 2618
7/24/12 54 Night Bloom 92602 Mericort $535,000 3 1479
7/24/12 3 Yorktown 92620   $681,000 4 2214
7/25/12 42 Colonial 92620 Woodside II $835,000 4 2427
             
Oak Creek            
7/20/12 3306 Orangewood 92618 Oak Park $320,000 2 1031
             
Quail Hill            
7/24/12 150 Treehouse 92603 Tapestry $990,000 4 2557
             
Turtle Ridge            
7/19/12 62 Valley Terrace 92603 Fiore $1,688,000 5 3000
7/19/12 24 View Ter 92603 Citrus $2,150,000 4 3565
7/20/12 36 Gardenpath 92603 Arborel $949,000 3 1770
             
Turtle Rock            
7/25/12 6232 Sierra Siena RD 92603 Broadmoor $1,075,000 3 2574
7/25/12 14 Elderberry 92603 Highlands Garden $970,000 3 2773
             
University Park          
7/24/12 3 Senisa 92612 Village I $545,000 3 1741
             
University Town Center          
7/23/12 56 Columbia 4 92612 Columbia Square $400,000 2 1232
7/24/12 119 OXFORD 27 92612 Columbia Square $350,000 2 1244
7/24/12 42 Lehigh Aisle 152 92612 Oxford Court $585,000 3 1916
             
West Irvine            
7/19/12 29 Olde Berry 55 92602 Andover $385,000 3 1364
7/25/12 6 ASBURY 92602 Ivywood $759,800 3 2400
             
Westpark            
7/20/12 1304 Solvay Aisle 92606 Brio $265,000 1 785
7/20/12 6 Del Vincente 92606 Unknown $550,000 3 1350
             
Woodbridge            
7/20/12 46 Greenbough 101 92614 Somerset $340,000 3 1260
7/20/12 187 Briarwood 92604 Other $259,000 2 921
7/25/12 28 Silkleaf 92614 Cottage Homes $585,000 3 1571
7/25/12 13 Chardonnay 59 92614 Chateaux $362,500 2 1145
7/20/12 47 Stowe 92620 Mille Fleurs $1,050,000 5 3780

 


Wednesday, July 25, 2012

Home Architectural Design

Home Architectural Design


House Lindau by k_m architektur

Posted: 25 Jul 2012 06:36 AM PDT

House Lindau by k_m architektur in Lindau, Germany: The single floor residential home made of cedar wood was built on a slightly sloping property with direct access and spectacular view to the lake. In the course of time, the patina of the facade is intended to adjust to its natural surroundings. Thus the building discreetly [...]

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Villa in Vinschgau by Architekten Architetti Kerschbaumer Pichler & Partner

Posted: 25 Jul 2012 05:54 AM PDT

Villa in Vinschgau is a replacement of a 1970s house that surrounded by apple trees. To maintain the landscape, Architekten Architetti Kerschbaumer Pichler & Partner set the building in low and through the subtle use of materials. The building represented as a sculptural and partly two-storey building, which fits into the surrounding landscape. The first [...]

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Irvine Housing Blog

Irvine Housing Blog

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Irvine House vs. Condo Numbers: July 2012

Posted: 25 Jul 2012 05:00 AM PDT

According to Altos Research, Irvine’s single-family homes have a Market Action Index of 21.70, which Altos defines as a buyer’s market. (Above 30 is defined as a seller’s market; below is defined as a buyer’s market.)  Altos also states that the average single-family home has been on the market for about 128 days as of July 20, 2012.

Median Price of Single-family Homes in Irvine
Altos Research

According to Redfin, 251 houses were on the Irvine market in June, and 202 condos were on the market. Following is more data from Redfin on Irvine’s June 2012 housing market:

Type List Price/# Homes Listed Sold Price/# Homes Sold List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Houses          
12-Jun $890K/251 $735K/103 $384 $356 5%
Condos          
12-Jun $498K/202 $430K/152 $336 $313 -1.30%
All          
12-Jun $720K/456 $515K/257 $363 $327 0.9%*

*The May price per square foot was down 4.6%.

The following charts show Irvine’s inventory, median price per square foot of houses, and median price per square foot of condos, respectively.

Redfin

I find it interesting that the number of houses on the market exceed the number of condos on the market—something that was not true in the not so distant past. Also, in spite of some anecdotes of homes in Irvine going for over list price, these charts and graphs show that the median selling price of homes in Irvine is still below the median asking (listed) price.

If you would like to see some housing numbers for each of Irvine’s neighborhoods, see my previous post “Irvine Housing by the Numbers - July 2012 Update.” 


Tuesday, July 24, 2012

Home Architectural Design

Home Architectural Design


Island Retreat by Fearon Hay Architects and Penny Hay

Posted: 24 Jul 2012 07:36 AM PDT

Fearon Hay Architects and Penny Hay designed an Island Retreat on New Zealand's Waiheke Island. An arrangement of freestanding structures around a sheltered central courtyard rests in a saddle above Matiatia Bay. The natural undulations of the saddle have been subtly emphasized to form a natural setting for three roofed structures and freestanding raised pool. [...]

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Irvine Housing Blog

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Open House Review: 10 Monterey

Posted: 24 Jul 2012 05:00 AM PDT

Condo Questions in Turtle Rock Pointe

10 Monterey: $775,000

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

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

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

As you enter, there is a sunny open living room with cathedral vaulted ceiling, formal dining room and patio beyond. To the left of the entryway, a plantation shuttered window highlights a small guest bedroom/office that is nearby, but neatly tucked away. There is a bath down the hall.

Next to the dining room, the family room with fireplace and marble floors opens onto a tiled patio and wrap around yard.   The raised location turns this area into a private retreat and entertainment asset.

The kitchen pairs with the family room,  compact but  functional, with recessed lighting, updated granite counters, newer stainless appliances, and a good sized breakfast counter bar. Entertaining here would be easy with the flow of the party moving back and forth from the living room to the family room, and on to the patio. 

Upstairs, there are two ensuite bedrooms.  Both have good sized walk in closets, and  baths with double vanity, shower and tub.   The closet in the master bedroom has an opening for a future studio or office addition.  

Heating and air have been recently replaced, and there are dual paned windows. There is a double garage and two parking spaces.

Upgrades and Special Details add elegance here. Marble floors and partial carpeting, crown moldings, plantation shutters and recessed lighting blend well with built in cabinets near the dining room, the shuttered interior window for the downstairs bedroom, and built in bedroom bookcases.

Considerations and Comparisons: The specifics show this property has been listed for 114 days and the price was recently lowered $20,000.  The location off of Ridgeline Drive in a private gated community in a quiet, elevated cul-de-sac could add long range value. The immaculate condition and quality upgrades count too.

Contrasted with the Turtle Rock condo at 33 Valley View,  both properties have secluded locations with city lights, and treetop or tree views, different but equally appealing floor plans, and nice individual helpings of drama.  After checking the numbers, the final choice  comes down to the  buyer’s priorities on age, upgrades,  location, floor plan, and that ultimate “when you know it’s right feeling.”

Specifics for these Turtle Rock condos:

 

  10 Monterey $775,000      33 Valley View $766,000
Built: 1984 1978
Bedrooms 3 4
Baths 2.75 2.5
Square footage   2,104 2,400
$/Sq. Foot $368 $319
Dues $487 $450
Views: Trees/woods City lights/treetops/woods
Mello Roos No No
Schools Irvine School System Irvine School System
Location Turtle Rock Pointe Turtle Rock

 

Nearby properties recently sold:  7 San Ramon sold in June for 857,500.  22 San Ramon #72 sold in March for $700,000.  Similar listings on the market now:  12 Mirador #5 is listed at $725,000.  12 Monterey #2 is listed at $799,000.

Who will choose this condo? Someone who is drawn to a private location in a gated community will be pleased with this home. Buyers with a need for a home office, or convenient downstairs bedroom for older relatives or frequent guests might choose this home.  And someone who wants to move in and start entertaining will do just that.


 
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