Doing the Math In University Park

42 Gillman $690,000 Sale Pending

I have seen a couple University Park properties recently, and as I pulled up to 42 Gillman, this property brought to mind 14 Butternut and 21 Whitewood Way. Positioned on a quiet street with great parks and great schools, this single family home raised some questions.

Inside I found there were plus and minus points to tally. In this case the math was being done by many others too, and the property is now listed as “sale pending.”

In significant numbers, the home provides 4 bedrooms and 3 baths with 2,280 square feet on a 5,200 square foot lot in University Park for $690,000. The $/Sq. Ft. is $303. HOA dues are $123 a month. The home was built in 1965 and has been on the market 55 days.

From the entrance, there is a good sized living room and dining room on the right, a stairway to the upstairs bedrooms in the middle, and a kitchen, breakfast nook and family room in the rear. There is a downstairs bedroom and bath off to the left of the entrance.

The high ceilings, dramatic fireplace, and windowed dining room all up the appeal of this home. Heading to the back of the home, the kitchen has redwood cabinets, stainless appliances and granite counters. The breakfast nook with wood floor sits in a windowed corner, overlooking the backyard.

Outside, space feels a little tight and landscaping could be expanded or perhaps, redone to provide more green views from inside and more privacy.

Upstairs, the individual bedrooms and master are all good sized rooms, waiting for new occupants, and new hobbies, with ample room for computers, books and projects.

As I wondered about the house, I caught the spirit of an active family with a lot going on. This house seems ready for a new look with a new family bringing fresh ideas and fun projects.

Specifics of this Two Level:

Beds, 4

Baths, 3

Sq. Ft. 2,280

$/Sq. Ft.. $303

HOA Dues, $123

Lot Size, 5,200 sq. ft.

Property Type, Single Family

Year Built, 1965

On the market, 55 days

Considerations and Comparisons: Doing the math for this home starts with a good location in University Park and then focuses on the amount of space and number of bedrooms, versus the age and the price of the home. Overall, the new owners may want to factor in additional upgrades and more landscaping as they put their own mark on the home, maximizing the effect of the high ceilings, and windowed areas.

Who will be next at 42 Gillman? With a sale pending and backup offers encouraged, a new buyer should appear soon. I could see this as the pick of a good sized family attracted to the schools, parks, and pleasant location in University Park.

Recent sales: 28 Wintersweet way sold for $620,000 in July; 16 Norton sold for $685,000 in September. Recent listings: 44 Gillman is listed at $795,000; 7 Redwood Tree is listed at $625,000.

Discuss at Talk Irvine: http://www.talkirvine.com/index.php/topic,3137.0.html

Weighing Options in University Park

14 Butternut Lane $899,000

Butternut is a private lane in University Park. And 14 Butternut sits near the end of the lane. From the street this home has a park-like landscape with a rose bordered brick walk leading to a tiled entry.

Space is a focus here. This 3,200 square foot single family home sits on a 6,313 square foot lot. Five bedrooms and 2.75 baths make room for guests, grandchildren, and hobbies too. High ceilings and good sized rooms give the whole house a light, airy feeling. Built in 1974 and completely remodeled, the home has been reduced from $970,000 to $899,000.

If you have a stash of antiques and dreams of extra rooms for a library, art studio or other projects, this home could provide answers.

The tiled entry leads to a large living room with a handsome fireplace and wood floors. The living room is really a hub for the house with vaulted ceiling, and stairway with balcony-like view above. A formal dining room is off to the left with a patio to the right. Beyond the living room, a roomy family room sits opposite the country kitchen and overlooks a wrap-around park-like yard with spa and garden.

The kitchen has a garden window and brick framed cooking top. Granite counters, breakfast bar, stainless appliances and custom cabinets have all been added.

Upstairs, there is a light filled, large master bedroom and bath and three other bedrooms and a bath, available for guests or to become a home office or hobby center. There is also a main floor bedroom and bath with sitting area and walk in closet. The home has custom vanities, dual paned windows, central air, newer exterior and interior paint, and a double garage.

Specifics for this two level home:

Beds: 5

Baths: 2.75

Sq. Ft: 3,200

$/Sq.Ft.: $291

HOA Dues: #$168/month

Lot size: 6313 sq. ft.

Association Pool

Private Spa

Forced air, central air, ceiling fans

Property: Residential

Type: Single Family

No Mello Roos Tax

Year Built: 1974

Community: University Park

County: Orange

On the Market: 64 days

Considerations and Comparisons: Weighing the options here involves the age, size, upgrades and price for this home. This home was built in 1974 and sold in 2006 for $1,085,000. In 1992 it sold for $445,000. Now it has has been reduced from $970,000 to $899,000, and it has been on the market 64 days. Completely remodeled, the home’s classic looks have been enhanced with quality upgrades. The lot and home size on a secluded private lane in the desirable University Park community make this home an interesting competitor in the Irvine market. On the minus side, there is some noise out front on the street from University Street traffic and other homes with 5 bedrooms might include another bath.

Who will be the next one to welcome guests to 14 Butternut Lane? A good sized family with active kids will benefit from the space and the excellent schools and parks. A couple who entertain, travel and act as frequent hosts to guests or grandkids will see the potential here. People who work in Irvine, or who are involved with the University of California Irvine, might find this home to be a natural.

Recent Sales and Listings nearby: 18 Charity sold for $1,300,000 in July; 16 Wondering Rill sold for $1,390,000 in July. Nearby current listings: 2 Angell is listed at $1,495,000 and 8 Rainstar is $889,000.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3114.0.html

Parkside Find in University Park

21 Whitewood Way, $525,000 Sale Pending

This home is a surprise on many levels. The minute you approach the home you know a gardener lives here. Thriving plants line the walkway, and accent the inside/outside garden spots throughout the home. This is topped off with the lush greenbelt that is just over the wall from the back patio. I am sure the owners chose this single family home with this location in mind. As you step out the back gate, the park is yours to enjoy.

New to the market, this home is now listed as “sale pending, with backup offers accepted.” When I attended the open house, there were a lot of lookers and I thought the property might move quickly.

As you enter the home, overhead a sparkling chandelier shines down on polished wood floors that lead you to the rest of the home. There soaring ceilings, a towering fireplace and clerestory windows move this house beyond the ordinary.

You can sense the owner’s pride and enjoyment of their home. In the living room, the wood is carefully stacked in a fireplace niche, ready for a winter evening. On the patio, all is ready for a relaxing barbeque.

This three bedroom, one and three quarter bath home makes the most of its 1,493 square feet, utilizing space to the best advantage. The inside/outside views, immaculate condition and natural light make it seem larger than it is.

I could see a family happily navigating through daily tasks and special weekend events using this home as their base. The home is well planned and ready to handle a family’s busy schedule.

Off of the main hall there is a special little garden room that can be reached from one of the bedrooms too. The remodeled kitchen is compact and efficient with granite counters and a greenhouse window. A nice sized, light filled dining room sits between the kitchen and the living room, off of the main hall. There are double vanities and skylights in the bathrooms and the living room fireplace is set up for gas or wood.

Specifics:

Bedrooms: 3

Baths: 1.75

Square Ft.: 1493

$/Sq.Ft.: $352

Lot Size: 3200 sq.ft.

HOA Dues: $179/month

Property: Residential, Single Family

Year Built: 1968

Double Garage

One common wall attached

No Mello Roos Tax

Community: University Park

County: Orange

Considerations and Comparisons: Very new to the market, a sale pending is now listed for the property. The smart use of space, and desirable location on the greenbelt in a top flight community has made this a winner. The immaculate condition and landscaping add points too. The mural wallpapers in the bedrooms could be updated, and the atrium off of the bedroom could be filled with more low light plants and a fountain for an even more dramatic inside garden room.

Who will move into 21 Whitewood Way? With a sale pending we will soon see. It could be a young family who will love having a park right outside their gate and benefit from the community’s excellent schools might settle here. Professionals who work in or near Irvine, and appreciate the immaculate condition and appealing landscaping might see this as the perfect home retreat. A mature couple with older family members or visitors who need bedrooms on the first floor will appreciate the details of this home and the convenience.

Nearby homes recently sold and new listings: 27 Meadowsweet Way sold for $520,000; and 57 Alder sold for $525,000. 32 Mayapple Way is currently listed at $550,000 and 10 Senisa is listed at $599,000.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3088.0.html

Canyon’s Edge Executive Retreat 56 Shade Tree $974,900

Scooting along Shady Canyon Drive, the view is all open wilderness, just minutes from Orange County’s urban nest of beaches and freeways. I was headed to Canyon’s Edge in Turtle Ridge, a gated community that sits next to the wilderness, and I was remembering visiting Quail Hill awhile ago. Both areas offer premium locations, delivering a big helping of the outdoors with easy access to all of the urban connections.

It’s a lifestyle worth considering. Spend the afternoon hiking, practically in your own backyard, and then head off for the next trip, or an evening out with the 73 Freeway and Orange County Airport nearby.

Turning into Canyon’s Edge, I found a community that may be a match for its surroundings. If it is to your taste, then you will recognize it instantly. At the back of the property there’s no urban neighbor on the other side of the fence, just a sweep of open wilderness.

New to the market , this Canyon’s Edge single family home compares well with Quail Hill, offering similar options with a bit more space.

Capturing some of the feel of a Tuscan farmhouse, this stone and stucco 2 bedroom, 3 bath single family home opens into a serene interior that promises more. Italian Tagina tile is used throughout the home and the 2,330 square foot open floor plan includes an extra downstairs room that could become a third bedroom. A formal dining room, casual dining area, and cozy family room with stone fireplace, overlook the backyard and wilderness beyond.

The gourmet kitchen with food prep island, large walk in pantry, granite counters, and breakfast bar is opposite the family room. Outfitted with recessed lighting, a 36” glass cooktop with five burners, under cabinet fluorescent lighting, and special deep roll out drawers for pots and pans, this kitchen looks equal to any task, whether it be an elaborate meal or a quick barbecue prep.

Outside is equally serene. Skillfully landscaped to blend into the surroundings, there is a patio and grassy area with fire pit, fountain, barbecue, heaters for chilly evenings, and dining area.

Throughout the home there is the feeling that each room is intended to be just right, functional, appealing and unobtrusive.

Upstairs, the master bedroom has a media niche off to one side, a walk in closet, and a master bath that has a separate shower and oversized tub. The other good sized bedroom has an adjacent private bath. There is a convenient upstairs laundry.

Some of the home’s many details include oil rubbed bronze hardware, raised panel doors, recessed lighting throughout, energy advanced dual glazed windows, prewired sound system, an interior sprinkler system, and retardant glazed tile roof. There is a double garage and wrought iron and masonry fencing.

Specifics for this two level Mediterranean:

Beds: 2

Baths: 3

Square Footage: 2,330

$/Sq.Ft.: $418

HOA Dues: $271/month

Forced air, central air

Property: Residential

Type: Single Family

View: Canyon

Year Built: 2003

Community: Turtle Ridge, Canyon Edge

County: Orange

On the Market: 22 days

Considerations and Comparisons: Canyon’s Edge compares well with Quail Hill and may offer a bit more space for the dollar. But this community is a selective choice. The dollars spent here are for space coupled with those other key ingredients of location, privacy, convenience, and distinctiveness. New to the market, this home will attract a certain buyer with some definite ideas of what the home should be.

Who will make this stone and stucco farmhouse theirs? A professional couple, a busy executive, or a small family who love the outdoors, might gravitate to this home. Quality schools, exceptional hiking and recreational areas, a remote, retreat lifestyle, and easy access to nearby beach communities could all be factors in the sale.

Nearby properties and recent sales: 19642 Sierra Santo Rd. sold for $835,000 in June and 19367 Sierra Bello Rd. sold for $940,000 in March. Current properties listed: 17 Shade Tree is listed for $869,000 and 5 Starlight is listed for $895,000.

Discuss below or on Talk Irvine.

Custom Woodbridge Entertainer’s Coup

17 Heron Irvine, CA 92604 $975,000

As I drove through Woodbridge to see this single family home, I was anticipating questions. Billed as an entertainer’s dream, this home brings up the two questions that people who entertain always ask: How many are there for dinner, and what’s the budget? I was interested to see how the cost versus space budget would play out at 17 Heron.

I had seen the floor plan and was looking forward to seeing the ‘great room.’ But seeing is believing, and that turned out to be pure fun. Stepping into a sunlit foyer and heading into a very together ‘great room,’ I could picture holidays flourishing here with friends and family, followed by one party after another.

Off to the right of the foyer there is a nicely finished living room with fireplace that will easily handle extra party traffic.

Soaring cathedral vaulted ceilings with lots of natural light accent the individual islands of color as the family area with fireplace, dining area, large counter bar, and kitchen all blend together. This is what open space always intends to be.

After seeing the space, a review of the figures shows this home as new to the market, with 2,450 square feet, at a $/Sq. Ft. cost of $398, with HOA dues of $82 a month, and a lot size of 5,000 square feet. The finished product has 4 bedrooms, 3 baths and 3 garages.

Remodeled in 2001, there are updates everywhere. The kitchen is a match for the great room with black granite counters, a large counter bar, under counter lighting, custom ceiling soffit with pendant lighting, top of the line appliances, ash cabinets and a tumbled marble backsplash, the party continues outside in the yard and on the patio with a gas barbecue island and a mini putting green.

There is one bedroom and a full bath downstairs. Upstairs the master bedroom and bath have been remodeled with custom jacuzzi tub, skylights, a huge walk in closet, and cathedral ceilings. There are two more bedrooms and a full bath upstairs.

The home has dual paned windows throughout, a larger capacity HVAC system, surround sound and woven blinds.

Specifics for this two level contemporary:

Bedrooms: 4

Baths: 3

Sq. Ft.: 2450 sq.ft.

$/Sq.Ft.: $398

HOA Dues: $82/month

Lot size: 5,000 sq. ft.

Property: Residential

Type: Single Family

Views: Tree Tops

Community: Woodbridge

Built: 1977

Schools: Irvine School System

Laundry in the garage

Association pool and spa

Listed: 19 days

Considerations and Comparisons: New to the market in a prime Woodbridge location near the lake, gives this home impetus. Sold in 2001 for $628,000 and also remodeled in 2001 with a strong floor plan, the question will be how the home fits the current market. Homes with similar prices and square footage have recently sold in Woodbridge and more are currently listed.

Who will be having parties at 8 Heron? Seasoned entertainers who love to plan big parties, and whip up instant get-togethers will be attracted to this home. There’s a lot of space and it all works. Families attracted to the school system and the parks and lake will consider this home. Having one bedroom downstairs will appeal to professionals who want a home office, or families with older members. The ready-to-move-in, polished space will appeal to professionals who want to unpack and maintain their schedule.

Recent Sales Nearby: 1 Vetrina sold for $998,000 in May; 27 Blue Jay sold for $912,000 in July; and 18 Mandarin sold for $925,000 in June. New listings nearby: 21 Bayside is currently listed at $958,000 and 26 Emerald is listed at $1,045,000.

Discuss below or on Talk Irvine.