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Open House Review: 205 Falling Star

Posted: 15 Jul 2014 04:00 AM PDT

Single Family Detached 4 Bedroom, 3 Bath Woodbridge Home Inside Loop
205 Fallingstar $869,000

Drive down West Yale Loop until it turns into East Yale Loop and then make a quick left on Fallingstar.  There, in the first house on the corner you have a hint of what the ‘inside the loop’ designation does to the price. This 4 bedroom, 3 bath home is just barely inside the loop, sitting on the corner of Yale Loop, but its price is similar to several homes that I have seen in the outer loop recently that have more options and more upgrades.  The question the buyers have to ask is what counts the most for them. Over the weekend, open house visitors were coming through, some talking about planning purchases in time for school in the fall.  The broker was also suggesting the property could be an excellent investment rental.

Significant Numbers: This two level, 4 bedroom, 3 bath home has been on the market a little over 20 days. It is 1,900 sq.ft, sitting on a 3,485 sq. ft. lot at $457 per sq. ft. HOA dues are $82. The home was built in 1984.

Close up: From the curb the home has a strong presence with green lawn overlooking Yale Loop. Inside, four bedrooms and three baths on two levels seem a little condensed in space with the back patio being private but also a little snug. The first impression is almost condo like instead of single family.

To the left the living room with brick fireplace opens to the paved patio.

The dining room is also to the left of the entrance.

Straight ahead, the good sized family room overlooks the patio and pairs with the kitchen with breakfast bar.  The kitchen has granite counters, stainless sink and black and stainless appliances. There is an inside laundry.

The paved patio with brick planter, wall and fencing is a secluded space nicely defined for barbecue, fire pit, dining and relaxing. Although it is snug it has a nice indoor/outdoor room effect that opens up the rest of the home.

To the right of the entry there is a downstairs bedroom with full bath and double vanity with walk-in closet.

Upstairs there are three more bedrooms and two full baths.

Laminate wood flooring, travertine tile, plush carpeting, high ceilings and recessed lighting work well throughout. There are new double paned windows and sliding glass doors. The home is currently occupied by an active family that makes good use of the space.

More specifics:
Single family home
Bedrooms, 4
Baths, 3
Detached, no common walls
Forced air heating, central air
Two car garage
Two parking spaces
Inside laundry
Association pool, spa
Irvine Unified School District

What should be considered?  Location and detached single family designations obviously effect price and the buyer has to decide how much that impacts what he wants and what he gets in square footage and effective upgrades. Outside space is quite private but rather snug.  The Woodbridge lakes, community atmosphere and top schools are available inside and outside the loop, leading to the question of how much inside the loop location counts particularly when it is right on the edge, as this property is.

Who will move in?  This is obvious family material with 4 bedrooms and 3 baths and a family with active middle school or teens would benefit from Woodbridge’s many community, recreational and local school assets.  As the broker suggested, it could also be an effective investment rental property. With a downstairs bedroom included, the property may attract families with older members too.

Recent nearby listings:  24 Chenile, $898,000; 4 Whitecloud, $859,000
Recent nearby sales: 15 Hazelnut, $775,000; 9 Warmspring, $899,000


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