Suburban living does not have to be dull. Today we will look at the exciting Turtle Rock Speedway and an interesting suburban hike.
Irvine Home Address … 2 Queens Wreath Way Irvine, CA 92612
Resale Home Price …… $500,000
{book5}
Walking down the hall
Like a soft heartbeat
I won’t wake up
Cause by the time that
I do you’ll be gone
I won’t look back
On a past so long
I won’t look back
On the things gone wrong
I won’t look back
Cause by the time that
I do you’ll be gone
Gone — Melody Gardot
Fifteen years, and $350,000 later, these owners have spent their home. Their equity is gone, spent on who knows what. Perhaps they bought some video games?
I have been playing far too much Mario Kart Wii lately. My entertaining family diversion inspired today’s post….
Turtle Rock Speedway
Tucked away in a quiet corner of Irvine is one of the most exciting racing circuits in the country. It doesn’t accommodate motor vehicles, and it probably would not stand up to a pack of bicycles, but if you are looking for a great place to race your children on bikes, scooters, rollerblades or even on foot, then Turtle Rock Speedway is waiting for you.
If you don’t have two cars to coordinate dropoff and pickup, you will
either have to park at the top of the hill, race down, then walk all
the way back up, or you can park at William R. Mason Park, walk up the
hill to the starting point, and finish near your car. I personally
would prefer the latter.
The course itself is 1.62 miles, and it drops significantly in elevation from start to finish. If you are on wheels, you can complete the entire course with minimal effort.
It starts at a park at the intersection of Sycamore Creek and Turtle Rock Drive. There is a neighborhood park there with private pool and tennis for Turtle Rock residents. (They will probably be annoyed if you park your car there, but too bad, that is where the track begins.)
First, as a disclaimer, I am not encouraging anyone to go flying down this hill at breakneck speeds. If you go there, race too fast and hurt yourself, you are a fool who needed no encouragement from me.
The course starts in a district I call the “Suburban Slalom.” It is characterized by gently falling terrain, eucalyptus canopies, and…
numerous entertaining corners.
This part of the track presents the best viewing opportunities for spectators, particularly on the open lawns elevated above the track.
Once you wend your way ’round the perilous slalom, you will be heading steeply downhill into Heaven’s Gate.
Once you have exited the tunnel, you will circle the Catholic Church at the corner — hence Heaven’s Gate. (Also, if you hate this post, you can use the Heaven’s Gate reference to the worst movie ever made.)
From there, the course moves back between the condos in another tree-lined avenue. This is the location to make your move. The track begins to drop off more steeply as you make the final decent from the hillside down to the Creekside Flats.
You can pick up too much speed if you are not careful, and when you emerge from the trees, there is a sharp right turn at the Devil’s Elbow, then there is another sharp bender to the left. From there it is a race across the Creekside Flats to one of three good finish-line locations.
The intersection of Culver and University is as far as the path can
take you without crossing any streets, so it is a natural location to
stop. The first finishing location is where a small tributary crosses the main creek. It is a low point just before an important fork, and there is plenty of time to stop before getting to the streets. The other finish lines are closer to the street. You should decide in advance in case you have a photo finish.
Suburban Hiking in Turtle Rock
Turtle Rock, like most Irvine Villages, has wonderful nieghborhood amenities. The three-mile long walking trail is part of a larger network that ties together William R. Mason Park with Turtle Creek Community Park. This is one of the more interesting suburban hikes in our area.
If you start in either park, you will have an uphill trudge to begin your journey. The drop to Turtle Creek Community Park is steeper, but a bit less interesting to travel. The starting point for Speedway Turtle Rock is a park at the half-way point on this hike. If you plan to walk, I would allow an hour each way. There are public restrooms at the parks at each end of the trail.
{book}
Let’s take a look at a property near Speedway Turtle Rock in University Park.
Irvine Home Address … 2 Queens Wreath Way Irvine, CA 92612
Resale Home Price … $500,000
Income Requirement ……. $92,027
Downpayment Needed … $100,000
Home Purchase Price … $206,000
Home Purchase Date …. 4/22/1995
Net Gain (Loss) ………. $264,000
Percent Change ………. 142.7%
Annual Appreciation … 9.9%
Monthly Mortgage Payment … $2,147
Monthly Cash Outlays ………… $2,830
Monthly Cost of Ownership … $2,120
Redfin Property Details for 2 Queens Wreath Way Irvine, CA 92612
Beds 3
Baths 2 baths
Size 1,741 sq ft
($287 / sq ft)
Lot Size 4,753 sq ft
Year Built 1967
Days on Market 2
Listing Updated 10/8/2009
MLS Number S591952
Property Type Single Family, Residential
Community Westpark
Tract Othr
According to the listing agent, this listing may be a pre-foreclosure or short sale.
Open floorplan, large kitchen, dining room area opens to patio and rear yard. 3 bed, 2 bath, home in desireable Irvine area on cul de sac near UC and fwys, needs TLC. Beautiful tennis facility, pool, spa and park
- This house was purchased for $264,000 on 4/22/1995. The owners used a $185,300 first mortgage and a $78,700 downpayment. Not to worry, they got their downpayment back and then some.
- On 8/30/2005 they refinanced the first mortgage for $405,000 and opened a HELOC for $125,000.
- Total property debt $530,000.
- Total mortgage equity withdrawal is $344,700.
Foreclosure Record
Recording Date: 06/04/2009
Document Type: Notice of Default
Document #: 2009000286409
Where is all that HELOC money? Gone. Where are the owners going to be soon? Gone.
I
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