Category Archives: Real Estate Analysis

Open House Review: 15 Glenhaven

I have noticed several larger model houses for sale in Northwood Pointe recently and took the opportunity to check one out today at 15 Glenhaven.

The basics:

Asking Price: $1,499,900

Bedrooms: 4

Bathrooms: 3.5

Square Footage: 3,700

Lot Size: 6,856

$/Sq Ft: $405

Days on Market: 22

Property Type: Single Family Home

Year Built: 1996

Community: Northwood Pointe, Mayfield

HOA dues are $180 per month ($40 + $140) and there are Mello Roos taxes, which are relatively low in the Northwood Pointe neighborhoods.

This is a very spacious home, which I could tell almost as soon as I walked in the door. The wide hallway had room for a small table or storage bench and higher ceilings helped make it feel more open. The living room is just inside the front door, with a fireplace on one wall. Large cutouts to the hall and dining room make it feel less closed in. All of the rooms downstairs (except the bedroom) have large, marble tile floors.

The dining room is directly behind the living room. It has space for a large table and French doors leading out to the side of the house.

Across from the living room is a large bonus room that used to be the third part of a three-car garage. It was a separate space entirely, so the conversion doesn’t affect the standard two-car garage at all. Knowing how many people love three-car garages, this may be a disappointment to some. The room is nice, however. It is big enough to use in a variety of ways and a private entrance at the side of the house adds additional versatility.

The kitchen and family room are at the back of the house. The kitchen has dark granite counters and a matching backsplash that provide contrast to the all-white cupboards and appliances. It features a double oven, built in fridge, and five burner stove. The island offers bar seating and additional storage space. A breakfast nook provides a bright, sunny place to eat and is next to the doors leading to the backyard.

The adjacent family room has a fireplace surrounded by built-ins that span the entire wall. They are raised on a high hearth.

The backyard is big, with a built-in barbecue and fireplace. It is about half paved and half grass.

There is also a downstairs bedroom at the back of the house. It is fairly small, but it has a private, en-suite bathroom and access to the backyard. It has a small, mirrored closet in its entry hall.

A half bath, large hall closet, and laundry room complete the downstairs.

Upstairs, there are three additional bedrooms and another big bonus room, currently being used as an office. This room has French-style double doors, recessed lighting and wood floors.

The two secondary bedrooms are comparable in size. Both rooms are carpeted and have standard closets. One has slightly elevated ceilings and a ceiling fan.

These rooms share a Jack and Jill bathroom with two sinks and a shower/tub combo.

The master bedroom has a lot of windows and is quite bright. The room is big and easy to furnish. The bathroom is huge, with a lot of empty, somewhat wasted, space in the middle. There are two sinks, a stall shower, and a separate soaking tub. The bathroom offers access to a balcony at the front of the house. There is also a big walk-in closet.

Overall, the house is pretty well kept. The floors were a bit sticky and grimy but that should be easy enough to fix. The carpet showed a little wear as well. The grass in the backyard is dying, but the landscaping in the front yard looks really nice. The home backs to Meadowood, directly across from the sports field, park and community pool. Meadowood isn’t too busy of a street, so noise probably won’t be a big problem. It is in a 24-hour guard gated community. It seems crazy to me to pay $1.5 million for a home, but this one is priced in line with recent sales, so they may be able to get their asking price.

Open House Review: 4 Wetstone

Woodbridge Townhome with Mixed Options

4 Wetstone #61 $615,000

Last week I looked at another similar Woodbridge home at 6 Woodland Drive, just around the corner from this one. But it was in the outer loop and backing up to Culver Street traffic. This one is in the inner loop in a quiet, private spot. The two homes are in the same price range and have been on the market about the same amount of time.

It is interesting to compare overall house size and price along with the location and closeness to traffic noise. Below, you can compare the significant numbers and location details for the two properties:

Significant Numbers for 4 Wetstone #61, Price $615,000: Built in 1978. This single story three bedroom, 2 bath home has 1,404 sq. ft. at $445/sq. ft. The property has been on the market about 50 days. It was initially listed for $625,000 in May. HOA dues are $406 month. The location is in the inner loop, turning off of West Yale Loop onto Stonecreek, and then onto Wetstone.

Significant Numbers for 6 Woodland Dr., $609,900: Built in 1976, the home is a two level, three bedroom, 2.5 bath condo with 1,655 sq. feet. $/sq. ft. is $368. HOA dues are $332. The lot size is 2,309 sq. ft. The home has been on the market about 45 days. Initially, the listing for the home in May was $649,000. The location is in the outer loop, backing up to Culver St., near Barranca Parkway.

CloseUp: Stepping into the single story town home on Wetstone I had the immediate impression of mixed assets. It is nicely situated in a quiet, private location, and has an inviting presence from the curb. Inside, the vaulted ceilings, and open, airy glass effects of patio and atrium add to its appeal. But at the same time, the entryway and kitchen flooring are ripe for upgrading, along with counters and appliances in the kitchen. The open living and dining areas with patio and atrium access and the windowed area to the kitchen create a nice space for family events and weekend entertaining.

There is a secluded master suite with double vanity and access to the patio. One bedroom includes a pull down Murphy bed. There is a double garage and newer AC and heater.

Specifics:

Bedrooms, 3

Baths,

2 Attached 2+ Common Walls

Double Garage

2 Parking spaces

Central heat and air

Association pool and spa

Laundry in garage

Irvine Unified School System

What will be evaluated here? Woodbridge’s first class lake, recreation and school assets help set the pace here, along with a quiet, private location in the inner loop. The need for flooring upgrades in the kitchen and entry way, along with kitchen counters and appliances will be part of the evaluation. Also the home is a little tight for space at 1,404 square feet. As noted, the other property on Woodland Drive in the outer loop backing up to Culver’s traffic, is larger and slightly lower priced.

Who will choose this townhome? A young family looking for all of Woodbridge’s excellent assets, along with a desirable location might be drawn to this home. A couple seeking a prime Irvine location might also choose this home opting to invest in the area and invest in some upgrades.

Recent Listings: 8 Alderberry, $630,000; 19 Crivelli Aisle, $650,000;

Recent Sales: 6 Driftwood, $525,000; 16 Millstone #127, $ 580,000

Open House Review: 6 Woodland Drive

Woodbridge Park Home in Outer Loop

6 Woodland Drive $609,900

From the street this two level home has an inviting presence, and inside there is mixed potential that could be developed. Located in Woodbridge’s outer loop with Culver Street traffic nearby there is some noise here. There is a tree buffer area, and the home does have central air. Also, additional landscaping on the patio could be used to screen the area.

Significant Numbers: Built in 1976, the home is a two level, three bedroom, 2.5 bath condo with 1,655 sq. feet. $/sq. ft. is $368. HOA dues are $332. The lot size is 2,309 sq. ft. The home has been on the market about 45 days. Initially the listing for the home in May was $649,000.

CloseUp: Stepping into the entry of this Redwood model, there is a light filled, good sized open space that blends the living room with fireplace and wet bar, and a formal dining area near the patio with view of the covered patio and nice sized backyard beyond. The ample open space invites interpretation and could work quite well for day to day family living and entertaining.

The kitchen is nice sized, but could use some upgrading in appliances and counter and floor treatments. There is a half bath downstairs and separate laundry next to the kitchen.

All bedrooms are upstairs, plus two baths. The master suite has a walk in closet. There is a two car detached garage with access to the back and side yard.

Specifics:

Two level condominium

Bedrooms, 3

Baths, 2.5

Double garage

Two parking spaces

Two common walls attached

Central air and forced air heating

Irvine Unified School District

Association pool and spa

Inside laundry on ground level

What will be considered here? The price in the current market which has gone from a May listing of $649,000 to $609,900 now will be considered along with the top notch appeal of Woodbridge’s lake recreation facilities, first rate schools and parks, and the overall floor plan and size of the home. Sitting so close to Culver Street’s busy traffic stream will be part of the discussion too.

Who wlll move in? A young family looking for a first home in Irvine with top schools, parks and lakes might be attracted to this home. The home is close to Stonecreek Elementary, Lakeside Middle School and Woodbridge High School. It might also be considered a rental investment property. The realtor indicated there is a flow of new properties coming onto the market now. A couple that wants a convenient location in Irvine close to shops and freeways, might choose to move in and upgrade this property, building on the ample space and workable floor plan.

Recent listings: 41 Songsparrow, $789,000; 3 Wetstone #61, $615,000.

Recent sales: 12 Woodland Drive, $550,000; 3 Woodland Drive, $540,000

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,4114.0.html

Open House Review: 22 Pinewood

Woodbridge Condo Polished to Perfection

22 Pinewood #58 $890,000

As you turn off of West Yale Loop onto Shorebird, a small lane winds back to 22 Pinewood #58. From the curb the home has a finished presence and it is easy to suspect that will be true inside. Stepping into the gated courtyard with fountain, and then moving inside, suspicions are confirmed. This two level, detached condo is immaculate, beautifully detailed, and inviting throughout. The right buyer can simply move in.

Significant Numbers: This completely detached home has been on the market about 16 days. HOA dues are $456. The home is 2,200 sq. feet and it is $405/sq. ft. Lot size is 5,000 sq. foot. It was built in 1977 and has been upgraded and remodeled.

CloseUp: A formal entry with travertine floors with granite inlays opens into an airy floor plan with cathedral ceilings. The living room with fireplace sits opposite the formal dining area with French doors and multi windows overlooking the patio. Crown molding, carpeting and plantation shutters complete the effect.

The patio is professionally landscaped and beautifully detailed providing an inviting view and a perfect spot for entertaining. There’s also a den and small library.

The kitchen is off to the left of the dining area. It is equally sleek with granite slab counters, two ovens including a convection oven, stainless appliances and light Maple flooring.

Upstairs the Master Suite has cathedral ceilings, custom draperies and a master bath with Ceasarstone countertops, custom glass dual sinks and fixtures, tile flooring with pebble stone insets, pebble stone backsplash and a private balcony. The other bedrooms are also nicely detailed with plantation shutters and recessed lighting.

Specifics:

Bedrooms, 4

Baths, 2-1/2

Irvine Unified School System

Double Garage, two parking spaces

Laundry in garage

Forced air heat, central air

Association pool and spa

Detached, no common walls

What should be considered here? This detached home in immaculate condition in the outer loop of Woodbridge will be evaluated for price, location, superb condition, and overall appeal. For someone looking for a turnkey home this one certainly measures up with its immaculate finish and custom details.

Who will move in? A young family looking for a Woodbridge location, will be attracted to this one. Top schools, parks and lakes make this a very popular family choice. A professional couple looking for a key Irvine location, and a base for entertaining might also select this home.

Recent listings: 11 Oakgrove #48, $725,000; 60 Lakefront, #50, $898,000.

Recent sales: 5 Pinewood #3, $610,000; 77 Pinewood, #39, $780,000.

Open House Review: 3 Atlanta

This week, I visited 3 Atlanta, a four bedroom home in the Northwood Park community in Northwood. It has some nice upgrades and definite potential to do a lot more.

The basics:

Asking Price: $839,000

Bedrooms: 4

Bathrooms: 2.5

Square Footage: 2,010

Lot Size: 5,000

$/Sq Ft: $417

Days on Market: 9

Property Type: Single Family Home

Year Built: 1978

Community: Northwood, Northwood Park

HOA dues are $65 per month and there are no Mello Roos.

This house seems to change owners every few years, with five sales since 1999, plus the current listing. That is far more than any other house I’ve seen in the area. My guess is that the location is the culprit. It is practically at the corner of Yale and Irvine Blvd. While I was surprised that I couldn’t hear more traffic, I think it’s because it was noon on a Sunday. It’s probably a lot louder during rush hour. The house still has its original windows, so buying new, double-paned windows may alleviate the sound as well. On the front side, it’s located at the end of a quiet cul-de-sac.

Walking up to the front door, there is a wide front porch with room for a table and chairs. The backyard is also a good size, with a wide grassy area, a small patio with an overhang, and an almost new, above-ground Jacuzzi. There is also a wide side yard on one side with plenty of space for a grill and a table and chairs.

When you enter the house, there is a small entryway but it quickly opens up to the living room. Closest to the door is a sunken portion of the room that has a fireplace and makes for a cozy sitting area. This space is carpeted, though the rest of the living room has wood floors. The room has a high ceiling and a wall of windows looking out to the backyard.

The dining room is also at the back of the house, between the living room and kitchen. It has a slider out to the backyard. A large, open area under the stairs makes a nice spot for a wine rack and small buffet.

The kitchen has been partially remodeled, but has definite room for improvement. It has newer granite countertops and black appliances, but old white cabinets that show their age. The granite is tiled, so it doesn’t offer a solid, smooth surface. It also has a high set of cupboards above the peninsula that divides it from the breakfast nook and family room, but they make the kitchen feel very closed in. While this was a common feature of homes constructed in the late 1970’s, most remodeled kitchens remove this overhead cabinets to open up the space. Because the kitchen is on the smaller side, I think opening it up would make it feel a lot bigger.

The family room is a good size and has a cutout area in one wall where you could add a built-in unit. There is a slider out to the large side yard and direct access to the garage. The downstairs half bath has been nicely remodeled with tiled walls and a pedestal sink.

Upstairs, there are four bedrooms off of one long hallway. Each of the secondary bedrooms has a walk-in closet and they are all about the same size. The carpet upstairs (and in the sunken living room) is newer, but I did notice a couple of stains. One of the bedrooms has a set of double doors, making it feel a bit more like an office or extra room than a bedroom.

The upstairs bathroom has also been remodeled. It has an engineered stone counter and nice cabinets. There is only one sink and a shower, but no bathtub.

The master bedroom is also a good size. It has both a sliding and a walk-in closet. The bathroom was nicely remodeled with the same materials as the other one. This one has two sinks and extra cupboards on one portion of the counter. It has a combination shower/tub, with a large round tub and attractive tile on the walls. A balcony at the back of the bedroom overlooks the intersection and the shopping center across the street.

Many homes in Northwood are still coming in under $400 per square foot. This one may be a bit overpriced at $417/foot without new windows or a fully remodeled kitchen, especially given the location. However, buyers may be attracted to the larger yard and the walk-in closets in every bedroom. The association has low dues, but still offers a pool and tennis courts.

Why do you think this house has sold so many times in recent years? How do you think the location and the lack of new windows or a fully remodeled kitchen will affect the price?