Usually I cover the properties that are on the market, and compare them with similar properties in Irvine. But today, I wanted to list the properties that will be ‘coming soon’ to the Irvine Housing Market, all of them foreclosed already.

Here are ten Irvine properties that will be on the market soon:

1. 80 Topaz, Irvine CA 92602

Auction Date: Thursday, September 13, 2012

Auction Price: $425,063

Buyer: AURORA BK FSB

Filing Date: Friday, August 31, 2012

Previous sale price: $345,000 in June 2002.

2. 206 Terra Bella, Irvine CA 92602

Auction Date: Thursday, February 10, 2011

Auction Price: $313,390

Buyer: MORGAN STANLEY 2006-3

Filing Date: Wednesday, January 26, 2011

Previous sale price: $226,000 in June 2000.

3. 1205 Terra Bella, Irvine CA 92602

Auction Date: Friday, March 2, 2012

Auction Price: $304,000

Buyer: CALIFORNIA UNITED FUND INC

Filing Date: Friday, February 17, 2012

Previous sale price: $427,000 in March 2009.

4. 16 Goldenbush, Irvine CA 92604

Auction Date: Friday, April 9, 2010

Auction Price: $430,000

Buyer: WELLS FARGO ASSET SECS 2007-1

Filing Date: Thursday, April 1, 2010

Previous Sale Price: $170,000 in April, 1998

5. 2 Mill Creek, Irvine CA 92603

Auction Date: Friday, July 9, 2010

Auction Price: $604,350

Buyer: JP MORGAN CHASE BANK NA

Filing Date: Friday, July 2, 2010

Previous Sale Price: $368,000 in November 1999

6. 35 Night Shade, Irvine CA 92603

Auction Date: Monday, February 1, 2010

Auction Price: $475,000

Buyer: STRUCTURED ASSET MTG 2005-4

Filing Date: Friday, January 22, 2010

Previous Sale: $650,000 in February 2005

7. 2253 Martin Apt 406, Irvine CA 92612

Auction Date: Friday, October 8, 2010

Auction Price: $528,930

Buyer: LEX SPECIAL ASSETS LLC

Filing Date: Thursday, September 30, 2010

Previous Sale: $528,000 in October 2010.

8. 209 Springview, Irvine CA 92620

Auction Date: Wednesday, February 2, 2011

Auction Price: $144,472

Buyer: DEUTSCHE BK NATL TRUST CO 2007-A

Filing Date: Tuesday, January 18, 2011

Previous Sale: $129,000 in June 2001.

9. 103 Nature, Irvine CA 92620

Auction Date: Wednesday, November 30, 2011

Auction Price: $346,500

Buyer: JP MORGAN ALTERNATI TRUST 2006-A7

Filing Date: Thursday, November 17, 2011

Previous Sale: $346,500 in November 2011.

10. 187 Cherrybrook Lane, Irvine CA 92618

Auction Date: Thursday, January 12, 2012

Auction Price: $423,768

Buyer: BANK OF AMERICA

Filing Date: Wednesday, January 4, 2012

Previous Sale: No public records

What do you think?

Will the controlled release of this inventory add to the banks' profit?

Will it affect the regular inventory due to move-ups and move-outs?

Considering how much of the population believes in luck, would you buy a foreclosed house?

Comment below, or discuss on Talk Irvine.

5 Canyonwood in Northwood Pointe just came on the market last week and it is a beautiful home. From the outside, the home has a three car garage, covered front porch and a nice lawn. On the inside, while I don’t particularly like the current décor, I could tell that the home was attractive, spacious, and warm.

The basics:

Asking Price: $959,000

Bedrooms: 4 + loft

Bathrooms: 4

Square Footage: 2600

Lot Size: 4,458

$/Sq Ft: $369

Days on Market: 3

Property Type: Single Family Home

Year Built: 1997

Community: Northwood Pointe

HOA dues are $185 per month and there are Mello Roos taxes.

When I walked into the house, I was in a tiled entryway. To the right, was a bedroom and bathroom. Ahead of me, I could see the living room and dining room.

The downstairs bedroom has large windows facing the street and a small closet with sliding doors. Directly across the hall is a full bathroom (no tub).

The living room features soaring ceilings and tall windows providing a lot of light. It also has high ledges that could be used for an interesting display area. The room flows right into the dining room, which also has several windows, as well as French doors leading out to the backyard. Both rooms have beige carpeting that is in pretty good condition.

I entered the kitchen through the dining room. It has granite countertops, a small island and double ovens. All of the appliances are black and the stove has five burners. There is a breakfast nook with bay windows looking out to the backyard. I really liked the color scheme of the kitchen, though I do think it would look better with stainless steel appliances.

The kitchen overlooks the family room, which has a fireplace in one corner and white built-ins on the adjacent wall. It has a ceiling fan and, like the other rooms, crown molding and many windows.

Upstairs, there are three additional bedrooms and a loft. The loft is right at the top of the stairs and makes a great extra space in this house. Whether your use it as an office, playroom, or home gym, it has plenty of space for your needs.

The first bedroom is actually quite large and is much bigger than the other two secondary bedrooms in the house. It has a walk in closet and a private bath, featuring a shower/tub combo.

The other bedroom upstairs is fairly small and has just a standard closet. The secondary bathroom (not attached) has two sinks and a shower/tub combo.

The master is a pretty room with several windows overlooking the backyard. It has a small sitting area and a standard closet in the room. The master bathroom is huge, with a separate shower and tub, split sinks, a vanity area and a large walk-in closet.

Overall, I really liked the layout of the house and, with different furnishings, can picture it as a very warm and friendly place. It has the nice touches of a new home, such as crown molding, rounded corners, built-ins, and recessed lighting without feeling ostentatious. The only things I really didn’t like are that one of the upstairs bedrooms and the backyard are both very small. While the yard does have a built-in barbecue, a patio and a grassy area, it isn’t really big enough to entertain or to play out there. As is the case of so many new homes in Irvine, the house is big but the lot is tiny.

I think the house is overpriced, especially in relation to recent sales, but I really liked the property and think it’s worth checking out if you’re in the market for a home this size. I would definitely offer less than they are asking.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3168.0.html

Polishing Assets in Westpark

3 Santa Comba, $899,900

Driving into Westpark, I found 3 Santa Comba at the end of a quiet cul de sac. Built in 1996, this Montage home is new to the market, and attracted quite a bit of interest at the open house.

Reviewing the numbers, this contemporary single family home has 5 bedrooms and three baths with a 3 car garage in 2,400 square feet on a 5,094 sq. ft. lot. The price per square foot is $375, and HOA dues are $47. There is Mello Roos tax.

From the street, curved brick trimmed steps lead to double doors that take you into a wood entryway and on into a large, carpeted living room, nicely punctuated with a cathedral ceiling and many windows. This bright sweep of space suggests an active family lives here and entertains frequently. With the dramatic ceiling and windows, this room is really open to interpretation. I could see a variety of furniture groupings, and a formal dining area at the end, overlooking outside greenery.

Continuing on through the living room, to the right there is a natural mix of kitchen, casual dining area and family room with fireplace and shutters. Hardwood floors up the appeal, and the whole area works very well. The kitchen blends in with sleek tile, newer stainless appliances and a comfortable breakfast bar.

From the family room, parties can spill out onto the patio through the French doors. The backyard is very green and private.

The carpeted stairway to the right of the main entrance takes you to a roomy master bedroom, with separate Roman shower and tub. One of the five bedrooms has been turned into an inviting office/study with French doors.

Specifics for this 2 level contemporary:

Bedrooms, 5

Baths, 3

Property type, Single Family

Three car garage

Central furnace, air, ceiling fans

Size, 2,400 sq. ft.

Lot size, 5,400 sq. ft.

Price/sq.ft., $375 sq. ft.

Detached/no common walls

Spanish clay tile roof

Year built, 1996

Neighborhood, Westpark

On the market, 20 days

Association pool, spa

Considerations and Comparisons: The solid assets of ample space and a good floor plan, coupled with a prime location in Westpark with excellent parks and award winning schools, gives this home market energy. A little polishing could take it even further. The backyard landscaping could be upgraded, with spa, barbecue, or flower beds. Also, the stairway carpets could be replaced. At this price, comparisons could also be made with homes in nearby Woodbridge of similar size. As always, the buyer will weigh all of the factors of price, age, condition, location, and that elusive quality of “what works” for them.

Who will be the next host here? Families or professional couples who entertain a lot and have frequent guests, grandkids or hobbies will see this as a great operating base. The home is close to the airport, and freeways, yet quiet and private.

Recent sales in the area: 27 Bluejay sold for $912,00 In July. And 24 Meadowgrass sold for $745,000 in August. Nearby current listings: 12 Santa Eulalia is listed at $1,099,000; 10 Bluejay is listed at $749,000.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3158.0.html

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.

If you are interested in 31 Iceberg Rose, you’d better move fast. While I was there for today’s open house, I saw two different people writing offers. This former model is a short sale and, with a reduced price, it is finally seeing some seriously interested buyers.

The basics:

Asking Price: $460,000

Bedrooms: 3

Bathrooms: 2.5

Square Footage: 1750

Lot Size: n/a

$/Sq Ft: $263

Days on Market: 110

Property Type: Condominium, End Unit

Year Built: 2006

Community: Woodbury

HOA dues are $325 per month and there are Mello Roos taxes.

31 Iceberg Rose is a short sale that the owners originally tried to sell on their own. With an asking price of $570,000, there weren’t any offers. The price has since been reduced to $460,000, bringing it in line with recent comps.

While this is an end unit, I found it awkwardly situated. Instead of facing either the street or another row of homes, the front door of this unit faces the garages from a perpendicular row of homes. When you enter through the front door, the garage door is to your left and a staircase immediately in front of you takes you up to the actual home, which is all on one level. A coat closet is situated partway up the staircase.

At the top of the stairs, the bedrooms are all to the right and the great room is to the left. The great room has tiled floors throughout the living room, kitchen and breakfast nook. A large wall of built-ins anchors the living room. The house isn’t currently furnished and I had a hard time imagining it as a cozy room. A balcony off the living room has space for a small table and a couple of chairs, but the view is of the neighbors’ garages.

The kitchen is narrow, with an island separating it from the living room. It has granite counters, stainless steel appliances that include a four-burner stove, and attractive mocha-stained cabinets. While it does seem to have ample cabinet space, the counter space is limited. Because it is so narrow and not really a separate room, it feels very small. There is a breakfast nook off to the side that serves as the home’s only dining area. Down a short hallway, I found a laundry room, half bath, and a pantry.

The first bedroom off the top of the stairs is the master, though I didn’t realize that when I first walked in. The room itself is comparable in size to most secondary bedrooms and it wasn’t until I saw the bathroom that I realized it was the master. The bath features a separate shower and tub, two sinks, and two walk-in closets. The bedroom has a view of a park and pool.

The other two bedrooms are average sized. One has a walk in closet; the other has a standard closet and a small balcony. They share a bathroom with two sinks and a shower/tub combo. All of the bedrooms are carpeted. The bathrooms have tile floors and counters.

This home is in good condition and clearly has interested buyers, but the small master bedroom and kitchen and the cold-feeling living room were big turnoffs for me. However, if it suits your style, I would get all of your paperwork in order and call the realtor ASAP.

UPDATE: 31 Iceberg Rose is now pending.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3142.0.html