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Irvine Housing Overview: Condos and Houses—June 2014

Posted: 30 Jul 2014 04:00 AM PDT

Below are numbers provided by Redfin (www.redfin.com) for Irvine’s June housing market. The numbers are broken down so that the statistics for condos and houses can be seen. As has been true for recent months, the number of homes on the market in Irvine during June is continuing to rise. However, the number of homes sold shows a more mixed outcome.

Also note that Altos Research states that the Market Action Index (MAI) for Irvine’s single-family housing market was 35.82 on July 25, 2014. According to Altos, above 30 indicates a sellers’ market, below 30 indicates a buyers’ market.

Following is Irvine’s 2014 housing market data as provided by Redfin.

Type List Price/# Homes Listed Sold Price/# Homes Sold List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Houses          
14-Jun $1,050K/379 $932K/98 $440 $433 4.60%
14-May $1,060K/334 $895K/100 $444 $448 8.50%
14-Apr $1,096K/270 $900K/97 $447 $440 11.70%
14-Mar n/a n/a n/a n/a n/a
14-Feb $1,090K/203 $905K/57 $451    $420    10.50%
14-Jan $1,082K/170 $832K/62 $461    $429    22.20%
           
Condos          
14-Jun $599K/381 $558K/130 $416 $403 3.30%
14-May $590K/332 $570K/125 $413 $402 5.20%
14-Apr $590K/310 $550K/125 $411 $394 4.50%
14-Mar n/a n/a n/a n/a n/a
14-Feb $599K/248 $560K/80 $406    $395    13.50%
14-Jan $603K/226 $626K/58 $406    $392    20.60%
           
All          
14-Jun $775K/832 $677K/257 $422 $412 4.30%
14-May $788K/704 $722K/238 $422 $421 7.40%
14-Apr $778K/618 $678K/247 $425 $409 7.60%
14-Mar $799K/487 $680K/na $435    $407    n/a
14-Feb $745K/479 $665K/145 $421    $400    10.50%
14-Jan $412K/422 $688K/130 $422    $412    23.40%

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Open House Review: 11 Glenhurst

Posted: 29 Jul 2014 04:00 AM PDT

Woodbridge Upgraded Townhome in Outer Loop
11 Glenhurst #8  $614,900

Turning off of East Yale Loop onto Briarwood takes you to this two level, end unit, 3 bedroom, 2.5 bath townhome on Glenhurst.  In June it was listed for $628,888. Now on the market just over 40 days, the price has been reduced to $614,900.  Over the weekend the home was attracting a fair amount of traffic with people lingering to ask questions. The home’s closeness to the lake and sleek upgrades will be noted.  

Significant Numbers: Built in 1979, this 1,601 sq. foot, two level townhome is $384 a sq. ft.  HOA dues are $348 a month.

Close up: As you pull into Glenhurst there is a rather snug feeling in this nest of townhomes and the front landscaping could use some upgrading. But the feeling of space and overall appeal Improves when you open double doors and step into the Travertine entry and then down to the Berber carpeted living room with custom fireplace and cathedral ceilings. 

Straight ahead the carpeted formal dining room is ringed with shuttered windows overlooking the patio.

To the left, the kitchen has breakfast bar, garden windows and laminate flooring. Otherwise, the kitchen looks to be original in appliances with tiled counters. More upgrades would be welcome.

Left of the kitchen the family room has a practical laminate flooring for lots of family use. The area accesses the garage where there is more storage and the laundry. (A sign indicates inside laundry is planned in a space opposite the powder room.) Sliding glass doors open to the patio.

The patio is nicely tended and relatively private with room for dining and relaxing. 

To the left of the entry there is access to the family room on the main floor, and steps leading to all of the bedrooms. The upper hall has built in storage.

The master suite has two large closets, mirrored doors, high ceiling, oversized spa shower and dual sinks.  There are two more fairly small bedrooms and another full bath.

In upgrades, Berber carpeting in the bedrooms, living room and dining room, Travertine tile, plantation shutters, wood blinds and recessed lighting work well for this home.

 

More specifics:
Townhome
End unit
Bedrooms, 3
Baths, 2.5
Attached, one common wall
Attached two car garage
Two parking spaces
Central furnace, central air
Laundry in garage
Association pool, spa
Irvine Unified School District

What should be considered? Buyers will be weighing the costs and benefits of townhome versus single family, and outer loop versus inner loop locations along with closeness to the lake in this property. They will also be assessing upgrades.  There are more that could be done, but the ones applied are effective. Woodbridge’s rich array of recreational assets, including North and South Lakes, beach lagoons and boat docks will give this property an edge in Irvine added to Irvine’s usual top schools at all levels.

Who will move in?  With all of the bedrooms upstairs, this home could attract younger families and working couples looking for a first home in Irvine.  Woodbridge’s strong community appeal and excellent setting make it an investment possibility too.

Recent nearby listings:  8 Greenwood, $685,000;  5 BlackOak $670,000
Recent nearby sales: 144 East Yale Loop, $685,000; 33 Orangegrove, $675,250

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Open House Review: 14 Delamesa West

Posted: 28 Jul 2014 04:00 AM PDT

Today I saw a two level, 4 bedrooms and 2 ½ bathroom home.  It is nicely located on a quiet cul-de-sac street with Santiago Hills Elementary School’s green soccer fields just a few steps away at the end of the cul-de-sac.  In March I reviewed the same model at 2 Entrada West.  This home’s location is far superior to Entrada West’s although it is not as upgraded.  2 Entrada West ended up selling in May for $392 per square foot at $817,500.

 

The basics:
Asking Price: $843,888
Bedrooms: 4
Bathrooms: 2.5
Square Footage: 2,088
Lot Size: 4,357
$/Sq Ft: $404
Days on Market: 24
Property Type: Single Family Residence
Year Built: 1976
Community: Northwood – Park Paseo

HOA dues are $85 per month and there no are Mello Roos taxes.

With it being on a zero-lot-line there are no windows on one side of the home.  This house has hard wood flooring and Spanish tile throughout the first floor.  The staircase and bedrooms have carpet.  The home has scraped ceilings, clean interior paint and a remodeled kitchen.  The windows, parts of the bathrooms and some of the lighting are still original.

Without needing to cross any streets, the community amenities and elementary school are just steps away.  

The front door is located on the side of the home.  Upon entry, a short hallway and the stairs are directly in front of you and the living room is to the left.  To the right, behind the open door, is the dining room, which fits a decent size table.  The living room and entrance have vaulted ceilings.  There is plenty of light in the rooms. 


The kitchen and family room are at the back of the house.  The kitchen was remodeled with new cream cabinets and granite countertop.  The appliances are stainless steel.  The old panel lighting still shines down from the ceiling and the kitchen lacks a pantry, although it has plenty of cabinets for storage. 

There is a small casual eating nook that can fit a small table and a couple of chairs in front of a large kitchen window looking out to the backyard.  The window runs up the wall and continues up, becoming a windowed ceiling in the eating nook. 

 

The rectangular family room is pretty standard.  The original brick fireplace has been painted white and is located next to the sliding door leading out to the backyard.  In the opposite back corner is a small wetbar. It is a bit dated, but has a sink and lower cabinets. 

The backyard is a nice size with a lattice covered wood deck surrounded by grass.  The wood deck looked a bit worn but the yard is nice and flat with space to for kids or pets to play. 

The half bath downstairs is located at the back of the family room, next to the garage entrance.  It has a newer sink and the original cabinets have been stained and updated with hardware.  A hall closet is found under the stairs.

Upstairs, there are four bedrooms.  A set of linen cabinets sits outside of the master bedroom.  The master is located at the front of home, above the garage.  It’s a decent size room with cathedral ceilings.  Two sets of large windows bring in an abundance of light.  The bathroom is located through a large opening and has two sinks and plenty of counter space. The fluorescent lighting is original and the carpet runs up to the vanity, but the sink area is in great condition.  To the left is a walk-in closet.  To the right is the separate shower with plain white tiles and a toilet.  There is no tub in the master.   

 

The shared bathroom located outside of the master bedroom has newer sinks but the cabinets look original.  There is plenty of counter space and the lighting has been updated.  The tub/shower combo looks original. 

The other three bedrooms are average in size and have carpet and clean paint.  Two of the bedrooms appear slightly larger with a larger closet.  The original windows have film on it which hinders the view into the backyard. 

14 Delamesa West is a terrific home for a family.  The home is in a prime location on a short cul-de-sac street and steps away to the schools and community amenities.   The home has a mix of original and some upgraded features, but in comparison to the upgraded model at 2 Entrada West, this location is much more desirable with respect to privacy, noise and children’s safety when playing in the front yard. 

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Open House Review: 2 Christamon East

Posted: 25 Jul 2014 04:00 AM PDT

Today I saw a two level home featuring 4 bedrooms plus a loft.  2 Christamon East is located in Northwood’s Park Paseo Community.  It sits on the corner entrance of a cul-de-sac with three streets surrounding it and is the only model with an open loft.  The backyard backs to Park Place (a non-residential street) with the entrance to Christamon on its side, and Christamon East in front of the home. 

Asking Price: $924,888
Bedrooms: 4
Bathrooms: 2.5
Square Footage: 2,474
Lot Size: 4,356
$/Sq Ft: $374
Days on Market: 13
Property Type: Single Family Residence
Year Built: 1978
Community: Northwood – Park Paseo

HOA dues are $89 per month and there are no Mello Roos taxes.

This home is in clean condition and has been partially upgraded.  The kitchen is partially remodeled, some of the floors have been updated with tile and all of the lighting has been updated.  The backyard has been completely remodeled with new hardscape. The ceilings have not been scraped and some of the bathrooms and kitchen features are original.  The windows are original, but have been decorated with plantation shutters.  The paint is clean and the carpet and tile floors are in good condition.  With the location on the corner there was noticeable noise from random passing cars.  The home feeds into Santiago Hills Elementary School, Sierra Vista Middle School and Northwood High School.  The elementary and middle schools are walking distance from the home. 

Entering the double front doors, the vaulted ceilings provide a sense of spaciousness.   To the right are the living and dining rooms.  An abundance of natural light comes in from the large windows throughout the entrance, living and dining rooms.  The tile flooring in the entrance area creates a path leading to the back of the home.   The living and dining room have clean tan carpet.  The living room is a step down from the rest of the home and opens up to the dining room.  The dining area is a decent size.   

Beyond the dining room is the kitchen to the right with an eating nook and a step down family room.  The back wall has two sliding glass doors and three windows, in addition to the garden window above the kitchen sink, so there is plenty of natural light flooding the area.  One of the two sliding glass doors is located next to the sink in the kitchen and the other is in the family room. The light tile flooring from the entrance flows throughout the kitchen, family room, bathroom and laundry room. 

Granite tile countertops, black appliances and recessed lights are renovations found in the kitchen.  The cabinets are original but have been painted white. There is plenty of counter space and cabinets, but the kitchen lacks a pantry.  A small eating nook sits in front of a large window, between the kitchen and family room.

The family room is also a step down from the kitchen.  It is an open solution with a rail separating the two rooms.  A brick fireplace sits along the back wall.  Off the back of the family room is the coat closet and short hallway with a powder room, a laundry room and garage entrance.  The bathroom has been updated with a new sink, black granite counter and white cabinets. 

Having an indoor laundry room is a bonus especially since it is not found in most Northwood homes.  There are cabinets which sit above the side by side laundry machines.  On the opposite wall is a large storage cabinet which sits beneath the stairs. 

The backyard is nicely hardscaped with a built-in curved bench wrapping around a fire pit, concrete and brick patio, as well as two lattices over each of the sliding glass doors.  The backyard sits higher than the street, so there is a sense of privacy, however the street noise can easily be heard from the yard.  There is no grass in the backyard, but plenty of space for entertaining.

Once upstairs there is a set of linen cabinets sitting between the master and secondary bedroom.   The bedrooms all have neutral carpet and the bathroom have basic tile floors. A ceiling fan is installed in each of the bedrooms. 

The master faces the front of the house and is a nice large room.  Entering through the double doors, a sliding double mirrored closet door sits to the left.  Across from the closet is the bathroom with double sinks and a separate walk-in shower and toilet.  The lighting above the sink has been updated and there is plenty of counter space. The counters and cabinets are original but in very clean condition.  The cabinets look like they were stripped and stained, so it is a nice modern look.  The shower is large with a small corner bench.  It still has the original 4x4 tiles.  Without a privacy door, there might be some light and noise that affects another person in the bedroom, however unlike many other open solutions, the entrance to the bathroom sits across from the closet and not across from the bed itself. 

The upstairs bathroom has one sink with good counter space and a shower/tub combo.  The cabinets are original but have been lightened.  The lights have been updated.  The tub and 4x4 tile surround are original.

All secondary bedrooms face the backyard and looks over Park Place.  Two of the bedrooms are similar in size with a small double sliding closet.  The third bedroom looks slightly larger with a larger closet as well.

Across from the third bedroom is an open loft which is currently used as another living room space with couches and a television.  It is a great added space if you want another entertainment area, office or playroom.  Some models have enclosed the loft to create another bedroom. 

Although some of the features are original, the home is in clean, good condition.  It is nicely located down the street from the Santiago Hills Elementary school, on a cul-de-sac street and steps away from the community clubhouse, pool and tennis courts.  The extra loft is a great feature and the backyard is nicely redone.  A big consideration of the home is the location with the three streets surrounding the home.  However, Park Paseo is not a main street and traffic is not heavy in front of the home.  

 
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