Irvine Housing Blog

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The Populars of 92602 Posted: 01 Oct 2012 05:00 AM PDT The North Park guard-gated community boasts of properties ranging from $300s to $1.5 Million. It’s the area between Bryan, Portola Parkway, Culver and 261 Toll Road. The lower end listings talk about the proximity to the freeway, and the ease of access to the main streets. The higher end talks about the proximity to the Peter’s Canyon Trail, part of the Mountain to Sea trail. Today we will look at the high and the low in this area, and the monthly cost of owning them. The High: 39 Vacaville, Irvine CA 92602 Listing Price: $1,449,000 Sales History: 09/29/2004: $1,100,000 08/31/2001: $652,000 Estimated Monthly Payment: $6,758 Mortgage at 3.25%: $5,048 Property Tax at 1.0595%: 15,352 Annually Mello Roos: $3,247 Annually Tax + Mello Roos Monthly: $1,550 HOA Monthly: $160 Property Details: Builders Tract Code: Brentwood/ BRTW-2 Beds/ Bath: 6 Beds/ 3 Baths Area: 3,500 SF/ Lot Size 7,500 SF Price/ SF: $414 The low: 305 Terra Bella, Irvine CA 92602 Listing Price: $315,000 Sales History: 12/29/1999: $231,000 Estimated Monthly Payment: $1,954 Mortgage at 3.25%: $1,162 Property Tax at 1.0595%: $3,338 Annually Mello Roos: $1,246 Annually Tax + Mello Roos Monthly: $382 HOA Monthly: $410 Property Details: Builders Tract Code: Terra Bella Beds/ Bath: 2 Beds/ 2.5 Baths Area: 1,167 SF Price/ SF: $270 So those were our highs and lows. The lowest prices condominium’s Mortgage, Property Tax and Mello Roos are almost equal to the highest priced Single Family Residence’s Property Tax and Mello Roos. But, the lower priced condominium pays almost two and half times the HOA dues as the higher priced home. Of course the HOA dues cover a lot of maintenance costs for the condominium as opposed to the single family residence. What are your thoughts? Why are the lower priced properties lining up as short sales while the higher priced properties just take a loss and move on? Comment below, or share your thoughts on Talk Irvine.

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