Wednesday, July 31, 2013

Irvine Housing Blog

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A Look at Some Housing Stats for Irvine and Surrounding Cities

Posted: 31 Jul 2013 05:00 AM PDT

My post from last week provided some stats on the Irvine housing market, for example, the percentage of the asking price that homes in Irvine sold for. That got me to wondering how these numbers compared to the numbers for other cities near Irvine. So that is what we will look at in today’s post. The following numbers are for the ninety days that precede July 28.

Any opinions on what the following numbers are telling us about this housing market?

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

$426 per SF

100.3%  4.1 25.20% 508 
Lake Forest $629,900/
$326 per SF
100.6%  5.3 22.40% 209 
Tustin $632,450/
$360 per SF
100.70% 3.4 20.7%  195
Orange $644,700/
$339 per SF
99.0%   4.7  23.1% 302 
Santa Ana $385,000/
$291 per SF
100.50% 2.1 10.00% 490
Costa Mesa $749,000/
$432 per SF
 99.3% 1.4  17.1%  204 
Newport Beach $2,649,950/
$992 per SF
 96.9%  5.5 35.0%  315 
Orange County $700,000/
$372 per SF
99.6%   4.1  25.9% 6,619 
Source: Redfin

Monday, July 29, 2013

Irvine Housing Blog

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Open House Review: 91 Highland View

Posted: 29 Jul 2013 05:00 AM PDT

Turtle Rock Penthouse Condo with a View
91 Highland View  $739,000

Some of Turtle Rock’s best ingredients come together in this secluded top of the hill condo on Highland View.  Nicely remodeled, carefully upgraded and polished to show, this condo scores points throughout. As the upper corner unit with an appealing penthouse perch, the view delivers city lights, golf course, hills, mountains and valleys.  But if you are not into steps, this one may not work for you.

Significant Numbers:  New to the market (7 days) and built in 1978, this 3 bedroom, 2 bath, 1,600 sq. ft. condo has been skillfully remodeled and upgraded, and it will be interesting to see how it fits into the current market. 

CloseUp:  Walking across the driveway up to the home, the corner location offers a sweep of green with a view to the left and steps straight ahead. The detached garages are over to the right.

Inside there is an expanse of light filled space with a relaxed open floor plan. To the left the kitchen has been opened up and beautifully redone to blend into the overall space with the living room with fireplace and dining room. Beyond the living room your eye is drawn to the deck and the view.   The deck is snug but there is room for a barbecue and dining. 

The kitchen has upgraded cabinetry, recessed lighting, inside cabinet lighting, granite counters, and stainless appliances.

The master and bath is to the right. It also offers a nice helping of light and the view. The other two  bedrooms and bath are also to the right.

Throughout the home,  walnut wood flooring, ceramic tile, crown molding and richly colored paint dramatize the space.  At 1600 sq. feet the space is not huge, but it is well used.

The home has central air, custom closets, mirrored closet doors and new Milgard windows

Bedrooms, 3
Baths, 2
Detached double garage
Irvine Unified School System
End unit, attached wall
Association pool, community pool
Two parking spaces

What will be considered here?  The size, price and location will all come up for discussion.  For someone seeking seclusion, ease and a view, the condo will work quite well. If you are not eager to negotiate steps and like private outside space, then the deck might seem a bit tight. For someone seeking a sleek Irvine base near Shady Canyon Golf Course, Irvine Spectrum and Fashion Island, this will work.  Top schools and Turtle Rock’s inviting canyons and trails add to the value, along with the nicely done package of upgrades and remodeling.

Who will be the next residents?  Currently there is a family with very young children here.  Obviously, the unit will not work as well as their children move into the toddler stage.  But the home would be ideal for a professional couple, or a small family with an older child, especially if they are also drawn to a key Irvine location, top schools and the Turtle Rock landscape.

Recent Listings: 15 Moonlight, $629,000; 14 Emory #78, $615,000.
Recent Sales:  24 Brigmore Aisle, $735,000;  9 Sunup #35, $600,000

Thursday, July 25, 2013

Irvine Housing Blog

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Open House Review: 15 Glenhaven

Posted: 25 Jul 2013 05:00 AM PDT

I have noticed several larger model houses for sale in Northwood Pointe recently and took the opportunity to check one out today at 15 Glenhaven.

The basics:
Asking Price: $1,499,900
Bedrooms: 4
Bathrooms: 3.5
Square Footage: 3,700
Lot Size: 6,856
$/Sq Ft: $405
Days on Market: 22
Property Type: Single Family Home
Year Built: 1996
Community: Northwood Pointe, Mayfield

HOA dues are $180 per month ($40 + $140) and there are Mello Roos taxes, which are relatively low in the Northwood Pointe neighborhoods.

This is a very spacious home, which I could tell almost as soon as I walked in the door.  The wide hallway had room for a small table or storage bench and higher ceilings helped make it feel more open.  The living room is just inside the front door, with a fireplace on one wall.  Large cutouts to the hall and dining room make it feel less closed in.  All of the rooms downstairs (except the bedroom) have large, marble tile floors.

The dining room is directly behind the living room.  It has space for a large table and French doors leading out to the side of the house.

Across from the living room is a large bonus room that used to be the third part of a three-car garage.  It was a separate space entirely, so the conversion doesn’t affect the standard two-car garage at all.  Knowing how many people love three-car garages, this may be a disappointment to some.  The room is nice, however.  It is big enough to use in a variety of ways and a private entrance at the side of the house adds additional versatility. 

The kitchen and family room are at the back of the house.  The kitchen has dark granite counters and a matching backsplash that provide contrast to the all-white cupboards and appliances.  It features a double oven, built in fridge, and five burner stove.  The island offers bar seating and additional storage space.  A breakfast nook provides a bright, sunny place to eat and is next to the doors leading to the backyard.

The adjacent family room has a fireplace surrounded by built-ins that span the entire wall.  They are raised on a high hearth.

The backyard is big, with a built-in barbecue and fireplace.  It is about half paved and half grass.

There is also a downstairs bedroom at the back of the house.  It is fairly small, but it has a private, en-suite bathroom and access to the backyard.  It has a small, mirrored closet in its entry hall.

A half bath, large hall closet, and laundry room complete the downstairs.

Upstairs, there are three additional bedrooms and another big bonus room, currently being used as an office.  This room has French-style double doors, recessed lighting and wood floors.

The two secondary bedrooms are comparable in size.  Both rooms are carpeted and have standard closets.  One has slightly elevated ceilings and a ceiling fan. 

These rooms share a Jack and Jill bathroom with two sinks and a shower/tub combo.

The master bedroom has a lot of windows and is quite bright.  The room is big and easy to furnish.  The bathroom is huge, with a lot of empty, somewhat wasted, space in the middle.  There are two sinks, a stall shower, and a separate soaking tub.  The bathroom offers access to a balcony at the front of the house.  There is also a big walk-in closet.

Overall, the house is pretty well kept.  The floors were a bit sticky and grimy but that should be easy enough to fix.  The carpet showed a little wear as well.  The grass in the backyard is dying, but the landscaping in the front yard looks really nice.  The home backs to Meadowood, directly across from the sports field, park and community pool.  Meadowood isn’t too busy of a street, so noise probably won’t be a big problem.  It is in a 24-hour guard gated community.  It seems crazy to me to pay $1.5 million for a home, but this one is priced in line with recent sales, so they may be able to get their asking price.

Wednesday, July 24, 2013

Irvine Housing Blog

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The Median in Irvine’s Housing Market

Posted: 24 Jul 2013 04:59 AM PDT

According to Redfin, the median selling price in June for an Irvine home was $652K or $395 per square foot. (The list price was $730K or $422 per square foot.) Redfin also provides some statistics for home that sold in Irvine in the last ninety days: 

• Median sale to list price: 100.5%
• Average number of offers: 4.7
• Average down payment: 24.7%
• Number of homes sold: 508

Today we will take a look at a few of the homes in Irvine that have asking prices that are near the June selling price.


• $659,000 ($442/SF)
• 3 beds/1.75 baths
• 1492 SF
• Single family built in 1974
• El Camino Neighborhood
• HOA Dues:  $60/month
• Mello Roos: No


• $649,900 ($404/SF)
• 3 beds/3 baths
• 1610 SF
• Condo built in 1999
• Northwood Pointe Neighborhood
• HOA Dues:  $284/month
• Mello Roos: Yes


• $639,800 ($492/SF)
• 3 beds/2.5 baths
• 1300 SF
• Condo built in 2006
• Woodbury Neighborhood
• HOA Dues:  $203/month
• Mello Roos: Yes

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