Irvine Housing Blog |  |
| Posted: 20 Feb 2012 04:00 AM PST There are 22 homes for sale currently. The median sold price is $810,000 and the median sold price per square foot is $319. With inventory down by 2% on a month-to-month basis, and down 30% on a year-to-year basis, and sale-to-list price at 97%, is it time to buy in the 92602 zip code of Irvine? Maybe, or maybe not, depending on where you want to buy in the zip code. It covers houses of West Irvine, North Park and North Park Square. Part of West Irvine and North Park Square are gated, all of North Park is guard gated. All of them have Tustin Unified School District Schools with Irvine addresses. All of them are close to Marketplace shopping. All of them have trails and parks in the neighborhood. But still, there is as much as $75/SF price difference based on their location within 92602. Today we will see what we pay for a 2500 SF single family residence in these three areas. North Park: Property Address: 14 Oroville Sts, Irvine CA 92602 This house has been on the market for 30 days. The house is in the guard gated community, and it is within bike-able/walk-able distance to Hicks Canyon Elementary School, Orchard Hills Middle School and Arnold Beckman High School. All schools have a perfect 10 API, and great test scores. Even though the listing says the address falls under Irvine Unified School District, the schools for this area fall under Tustin Unified School District. The floor plan (Mendocino North, Plan C) is nice, downstairs the garage-kitchen-nook-family room-pantry are all tied in, and in all possibilities this area will be the most used area of the house. The formal dining room and living room might find very little use, ending up only as spaces for entertaining. Upstairs, the secondary bedrooms/optional loft are tied in together, and Master bedroom is private. Coming to the Master bathroom, I have a strong feeling that the architect didn’t believe in gender equality. There are two walk-in closets, one bigger than the other. There are two sinks, one with a longer counter than the other. The owner has put in a lot of work in choosing unique colors and wall papers for the walls. That might or might not appeal to an average buyer. If I want to sell a house in near future, I would choose neutral shades and finishes just to be on the safe side. The lowest price for this house was in 2001 when it was built: $514,000. West Irvine: Property Address: 18 Hidden Brook, Irvine, CA 92602 This house has been on the market for 92 days. The house is not in a gated community. It is within walk-able distance to Myford Elementary School, bike-able distance to Pioneer Middle School. Arnold Beckman High School will be at a driving distance. All schools have a 10 API, and they are comparable to Irvine Schools in test scores. Once again the listing agent says that it has “Irvine Schools”. Two schools have Irvine addresses, but all of them fall under Tustin Unified School District. This is a custom built house. There is no tract or builder information on the MLS. But a quick look at the pictures will tell you that it might need some upgrades. Also, the house is on a “sale-pending” status. The lowest price for this house was in 1999 when it was built: $360,000 North Park Square: Property Address: 36 Whitford, Irvine CA 92602 This house has been taken off the market on 02/07/2012. The house is in the guard gated community, and it is within bike-able/walk-able distance to Hicks Canyon Elementary School, Orchard Hills Middle School and Arnold Beckman High School. All schools have a perfect 10 API, and great test scores. Even though the listing says the address falls under Irvine Unified School District, the schools for this area fall under Tustin Unified School District. The floor plan (Triana Plan A) is a single story house. Master Bedroom is private, and has a view of the backyard too. But the secondary bedroom layout leaves a lot to be desired. One of the bedrooms has a bathroom close by, but the optional third bedroom/ office space has a foyer between the bedroom and bathroom. The house backs to Bryan Avenue. It might not be the busiest street in Irvine, but it definitely gets busy around school time. Arnold Beckman High School is on the other side of the street. The lowest price for this house was in 2003 when it was built: $527,500. Which one of these three houses would you buy?
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