Open House Review: 2 Christamon East

Today I saw a two level home featuring 4 bedrooms plus a loft. 2 Christamon East is located in Northwood’s Park Paseo Community. It sits on the corner entrance of a cul-de-sac with three streets surrounding it and is the only model with an open loft. The backyard backs to Park Place (a non-residential street) with the entrance to Christamon on its side, and Christamon East in front of the home.

Asking Price: $924,888

Bedrooms: 4

Bathrooms: 2.5

Square Footage: 2,474

Lot Size: 4,356

$/Sq Ft: $374

Days on Market: 13

Property Type: Single Family Residence

Year Built: 1978

Community: Northwood – Park Paseo

HOA dues are $89 per month and there are no Mello Roos taxes.

This home is in clean condition and has been partially upgraded. The kitchen is partially remodeled, some of the floors have been updated with tile and all of the lighting has been updated. The backyard has been completely remodeled with new hardscape. The ceilings have not been scraped and some of the bathrooms and kitchen features are original. The windows are original, but have been decorated with plantation shutters. The paint is clean and the carpet and tile floors are in good condition. With the location on the corner there was noticeable noise from random passing cars. The home feeds into Santiago Hills Elementary School, Sierra Vista Middle School and Northwood High School. The elementary and middle schools are walking distance from the home.

Entering the double front doors, the vaulted ceilings provide a sense of spaciousness. To the right are the living and dining rooms. An abundance of natural light comes in from the large windows throughout the entrance, living and dining rooms. The tile flooring in the entrance area creates a path leading to the back of the home. The living and dining room have clean tan carpet. The living room is a step down from the rest of the home and opens up to the dining room. The dining area is a decent size.

Beyond the dining room is the kitchen to the right with an eating nook and a step down family room. The back wall has two sliding glass doors and three windows, in addition to the garden window above the kitchen sink, so there is plenty of natural light flooding the area. One of the two sliding glass doors is located next to the sink in the kitchen and the other is in the family room. The light tile flooring from the entrance flows throughout the kitchen, family room, bathroom and laundry room.

Granite tile countertops, black appliances and recessed lights are renovations found in the kitchen. The cabinets are original but have been painted white. There is plenty of counter space and cabinets, but the kitchen lacks a pantry. A small eating nook sits in front of a large window, between the kitchen and family room.

The family room is also a step down from the kitchen. It is an open solution with a rail separating the two rooms. A brick fireplace sits along the back wall. Off the back of the family room is the coat closet and short hallway with a powder room, a laundry room and garage entrance. The bathroom has been updated with a new sink, black granite counter and white cabinets.

Having an indoor laundry room is a bonus especially since it is not found in most Northwood homes. There are cabinets which sit above the side by side laundry machines. On the opposite wall is a large storage cabinet which sits beneath the stairs.

The backyard is nicely hardscaped with a built-in curved bench wrapping around a fire pit, concrete and brick patio, as well as two lattices over each of the sliding glass doors. The backyard sits higher than the street, so there is a sense of privacy, however the street noise can easily be heard from the yard. There is no grass in the backyard, but plenty of space for entertaining.

Once upstairs there is a set of linen cabinets sitting between the master and secondary bedroom. The bedrooms all have neutral carpet and the bathroom have basic tile floors. A ceiling fan is installed in each of the bedrooms.

The master faces the front of the house and is a nice large room. Entering through the double doors, a sliding double mirrored closet door sits to the left. Across from the closet is the bathroom with double sinks and a separate walk-in shower and toilet. The lighting above the sink has been updated and there is plenty of counter space. The counters and cabinets are original but in very clean condition. The cabinets look like they were stripped and stained, so it is a nice modern look. The shower is large with a small corner bench. It still has the original 4×4 tiles. Without a privacy door, there might be some light and noise that affects another person in the bedroom, however unlike many other open solutions, the entrance to the bathroom sits across from the closet and not across from the bed itself.

The upstairs bathroom has one sink with good counter space and a shower/tub combo. The cabinets are original but have been lightened. The lights have been updated. The tub and 4×4 tile surround are original.

All secondary bedrooms face the backyard and looks over Park Place. Two of the bedrooms are similar in size with a small double sliding closet. The third bedroom looks slightly larger with a larger closet as well.

Across from the third bedroom is an open loft which is currently used as another living room space with couches and a television. It is a great added space if you want another entertainment area, office or playroom. Some models have enclosed the loft to create another bedroom.

Although some of the features are original, the home is in clean, good condition. It is nicely located down the street from the Santiago Hills Elementary school, on a cul-de-sac street and steps away from the community clubhouse, pool and tennis courts. The extra loft is a great feature and the backyard is nicely redone. A big consideration of the home is the location with the three streets surrounding the home. However, Park Paseo is not a main street and traffic is not heavy in front of the home.

Do the Top Five Trends in Today’s Real Estate Market Apply to Irvine?

“The Healthy City Healthy Planet initiative is an affirmation of Irvine’s long-held commitment to health, fitness, well-being and the sustainability of our community.

Through the integration of multiple practices into all aspects of City planning and the delivery of municipal services, we are actively supporting the health of our City, our citizens and our planet on a daily basis.”City of Irvine, Healthy City Healthy Planet webpage

Now and then, it is helpful to zoom out and take a look at the larger picture. And then zoom back in to see how that applies at home. That is what we are going to do in today’s post. We are going to take a look at what panelists and speakers at the 48th conference of National Association of Real Estate Editors said are the top five trends in today’s real estate market. They point out that being aware of these trends and adjusting your buying or selling strategy to take advantage of these trends will be beneficial whether you are planning on being a buyer or seller in today’s real estate market.

You can answer for yourself if you think that these trends apply to Irvine’s current real estate market—and, if Irvine is a healthy city that contributes to a healthy planet.

Energy Efficiency

One of the hottest topics at the conference was energy efficiency, “which has become one of the most coveted features among home buyers. That’s true even at the upper end of the market, where wealthy homeowners don’t have to sweat steep utility bills, but still they want their homes to run at optimal efficiency.” The suggestion to buyers looking to optimize the value of their home purchase was to look for energy-efficiency features. Energy Star appliances, high efficiency windows, and well-insulated attics are a few energy-efficient items a prospective buyer might look for. The prospective buyer might even ask for a year’s worth of utility bills to better gauge what the cost of owning the home would be.

Credit

“Most Americans still can’t afford a mortgage, according to Anthony Hsieh, CEO and founder loanDepot. The average FICO score on mortgages stands above 750, compared with 710 in 2010. If you have solid credit, you’ll be able to take advantage of the still historically low interest rates. If not, you need to get your score up, and quick, since economists expect mortgage rates to tick above 5 percent in 2015”.

If you currently have a good interest rate that is locked in, advice was given to reconsider selling your home at this time. It might make more sense to hold on to your home, and if you really want those new features, consider remodeling.

Lifestyle Amenities

“For the first time ever, today’s kids might have shorter lifespans than their parents.”–Rachel MacCleery of the Urban Land Institute.” And the way we have built our communities, which discourages walking, is part of the problem. The result is that the old model for building neighborhoods is losing favor: “People want to live closer to work and they’re looking for modes of transportation that don’t involve getting in their car.”–Bob Eury, executive director of the Houston Downtown Management District. Walkable residential development and transportation options that involve more than The-Car-Is-All model are becoming more popular. Smooth sidewalks, tree-lined streets and paths, bike trails and lanes, and easy access to playgrounds and nature are some of the features that today’s buyers are finding more and more desirable.

Water Efficiency

Water efficiency is becoming just as important as energy efficiency. (Actually, it takes a lot of energy to move water from one location to another, so energy efficiency and water efficiency are intertwined.) “Nearly 2 billion people are projected to live in scarce-water regions by 2015. In the U.S., groundwater depletion rates are accelerating at a rapid clip, and the western drought is creating severe stress for farmers and cities alike, according to the Counselors of Real Estate.” This is making water-efficient homes more desirable. Some water efficient features that home buyers might look for are water-smart landscaping (even for people who don’t live in a drought zone) as well as water-efficient fixtures, such as toilets, faucets, and showerheads.

Online Real Estate

With easy access to the online world, including the online real estate world, some are questioning if a need for real estate agents still exist. Rick Sharga, executive vice president at Auction.com, has some encouraging but cautionary words for today’s real estate agents: “This is an opportunity for agents to reinvent themselves and figure out what their value proposition is for consumers on a go-forward basis.”

What do you think? Do these five nationwide trends as stated at the National Association of Real Estate Editors conference, apply to Irvine? And is Irvine a healthy city that provides its citizens and, by extension the planet, a healthy, happy life?

Source: Consumer Reports

Open House Review: 18845 Tabor Drive

Newly Renovated Detached Single Family Turtle Rock Home

18845 Tabor Drive $1,249,000

Turning off of Turtle Rock Drive onto Grossmont takes you back to Tabor Drive which sits near Culver in this prime neighborhood. But more interesting than the location is the transition history of this 4 bedroom, 2 bath single family home. According to public records, the home sold in June, 2014 for $912,000. It is now back on the market (about 10 days) at $1,249,000. From 2007 to 2014 the property was listed, delisted, and had a pending sale in February, 2014 that did not go through. Now potential buyers will be weighing the new renovation as a finished package against the new price.

Significant Numbers: Built in 1968, this single level 4 bedroom, 2 bath home is 1,800 sq. ft. on a 5,663 sq. ft. lot at $694 a sq. ft. HOA dues are $25 a month. The broker/owner said the whole home and outside areas had been renovated.

Close up: from curbside all the way to the back yard this home has a lot of ‘new house’ characteristics. Fresh landscaping, travertine flooring, nicely upgraded carpet, new baseboards, crown molding, scraped ceilings and recessed lighting establish the look, along with some nice staging.

To the right of the entry the living room has a new custom stone fireplace.

On the left, steps lead to the newly landscaped atrium that parallels a formal dining room.

The large remodeled kitchen has granite counters, an island breakfast area and a gas stove conversion with a gas extension to the patio for a barbecue.

A good sized family room area sits next to the kitchen and accesses the patio.

The rear patio with fruit trees and side yard with a custom entry gate and the atrium are visible throughout the home.

The separate master bedroom has a remodeled bath in stone with upgraded fixtures and new shower doors and it accesses the atrium.

There are 3 additional bedrooms and another remodeled bathroom in stone with upgraded fixtures.

More specifics:

Single family home

Bedrooms, 4

Baths, 2

Detached, no common walls

Two car garage

Two parking spaces

Laundry in garage

Central air conditioning

Association pool, spa

Irvine Unified School District

What should be considered? The new price and the new renovation will be assessed along with the key Turtle Rock neighborhood that offers prime schools, and parks. Nearby there is University High School and Turtle Rock Elementary, along with easy access to the University of California Irvine.

Who will move in? As a single level home with 4 bedrooms more mature families or families with more than one generation will be attracted. There are a few steps in a few places that may be seen as dramatic accents, or difficulties depending on the buyer. A good sized active family with middle school or teens will be attracted to the 4 bedroom home layout in a prime Irvine area.

Recent nearby listings: 18801 Tabor, $1,375,000; 4962 Paseo de Vega, $975,888

Recent nearby sales: 5082 Harcum $1,200,000; 18856 Via Messina, $1,150,000

A Review of the Terrazza Tract in Orchard Hills

This week, I will review the Terrazza homes in Orchard Hills. They are the second largest on the Orchard Hills II side, but the fourth smallest in all of Orchard Hills (the seven larger collections are in the gated Groves area). Like all homes on this side of Culver, Terrazza was built by Irvine Pacific. The homes all have four bedrooms, including a main floor bedroom, and range from 3-4 bathrooms. Each home also has a loft. They range from 1,981 – 2,408 square feet. Each home has a two car garage, some with an additional storage area. Terrazza only has two different models, though Residence Two has a slight variation known as Two X, which is always on a corner.

Some of the standard amenities in all homes include Kitchenaid stainless steel appliance package, including cooktop, oven, microwave, dishwasher and hood; white satin Thermofoil cabinets with adjustable shelves; granite slab kitchen counters with 6-inch backsplash and full backsplash at cooktop; stainless steel double basin sink with Kohler pull-out faucet; master bath with a sterling tub with 6” x 6” tile surround and separate shower; dual Kohler undermount sinks with marble countertops and backsplash; Kohler polished chrome faucets; ceramic tile flooring at entry, kitchen, dining, baths and laundry; plush carpet throughout living areas; pre-wired multi-media plate; fire-resistant concrete tile roofs; decorative front doors; high efficiency air conditioning and gas furnace; tankless water heaters; and energy efficient bathroom fixtures. All homes are Build it Green™ Certified.

Terrazza is the southernmost set of homes and the only collection south of the Narrow Path entry from Culver. There are four different elevations: Tuscan, Northern Italian, Formal Spanish and Early California. All homes in Terrazza are zoned for the Tustin Unified School District, including Hicks Canyon Elementary, Orchard Hills School, and Beckman High School. Currently, Hicks Canyon serves grades K – 4 and Orchard Hills serves 5 – 8. Eventually Orchard Hills will be a K-8 facility. There will be a total of 149 homes in the Terrazza neighborhood.

Basic Neighborhood Financial Information

Approximate HOA Dues: $196 per month

Approximate Tax rate: 1.06%

Approximate Mello Roos: $3704 – 4154 per year (AD Tax: $1,950; CFD Tax: $1,650 – $2,100; other tax $104)

Overall Effective Tax Rate: 1.5%

Prices start at around $855,000 for Residence One, $935,000 for Residence Two, and $965,000 for Residence Two X.

Residence One

1,981 square feet

4 Bedrooms, 3 Baths

Loft, Optional Den, Optional California Room, Optional Conservatory

Base Price: $855,000 ($431 per square foot)

Residence One is modeled with a reversed floor plan and in the Northern Italian elevation. From the front gate, a long, narrow path leads to the front door. The main entryway is very plain, with the downstairs bedroom and bath off a hall to the right and the kitchen and great room to the left. There is a small coat closet just inside the front door. The flooring and window treatments throughout the home are upgraded.

In the model, they show the optional den instead of bedroom 4. As a den, there is an option for either pocket or double French doors. The bedroom has a standard door. Whether you choose a den or a bedroom, there is a large closet that goes under the stairs. The four recessed lights are included with the den but not the bedroom. The model shows upgraded crown molding, wainscot, and built-in shelving. One large, single window faces the side of the house. The only difference between the bedroom and the den is the type of door to the hall.

The downstairs bathroom is directly across from the den. It includes a single sink and a shower. There isn’t an option for a bathtub. This model includes upgraded Caesarstone countertop, tile backsplash, brushed chrome tubular pulls, shower floor, crown molding, and a framed mirror. The shower is average-sized with a small, corner seat and a window.

The door to the garage is just past the bathroom. There is a small launch area with built-in upper and lower cabinets.

The great room is on the right at the opposite end of the hall. It is a pretty standard room that includes recessed lighting and crown molding. The back wall is all windows, though the model shows it with the optional bi-fold doors leading out to the yard. The model also has a built-in media center. Though it isn’t shown in the model, Terrazza offers an optional fireplace.

The great room is completely open to the kitchen. There is a large island in the middle, the ovens and fridge to the left and everything else along one wall. The entire appliance package is upgraded to include Jenn-Air appliances. The cabinets, drawer pulls, countertop, backsplash, sink and faucet are also upgrades. The island is shown with the upgraded furniture package and brown outlets. The island is long enough to seat four on one side, and may even be able to accommodate one or two more along the short side. The sink and dishwasher are located in the island. This kitchen also includes the optional wine cooler. It has one full set of pantry height cupboards. There is a good amount of counter space on each side of the range.

There is a dining area behind the kitchen. It is shown with the optional base and upper cabinets, glass uppers, upgraded counter and the optional bi-fold doors. The windows along the two walls give a full view of the small backyard.

The yard in the model shows the standard trellis option. Buyers may also choose a California room, where the outside area has solid walls and ceiling with optional bi-fold doors. The third option for this space is a conservatory, which is actually inside the house as a small room behind the great room. Bi-fold doors are not available with a conservatory.

The backyard is pretty small, with a larger area under the trellis and the smaller area behind the dining room. If you opted for the conservatory, there would be almost no yard at all. The model lots are a little bigger than the average Terrazza property.

Upstairs, there are three bedrooms and a loft. The loft is right at the top of the stairs and doesn’t feel as open as in many other homes. The model shows the optional built-in tech desk, though upgraded with a Caesarstone counter and brushed chrome pulls. The room isn’t very big and has just one small window.

The master bedroom is on the right at the top of the stairs. The room feels spacious and bright, with a full wall of windows on one side and two smaller ones on another. The model is located on a street with views of the avocado orchard. The recessed lights, crown molding and wainscot are upgrades; the coffered ceiling is included. An optional, sliding door leads to the master bath.

The walk-in closet is on the left when you enter the bathroom area. It is shown with the standard double shelf and pole. Directly across from the closet is a built-in highboy, which could eliminate the need for a dresser in the bedroom. The highboy is actually an upgrade in lieu of a standard closet. The shower sits next to the highboy and has upgraded tile and an upgraded slab at the corner seat. The shower is attached to the tub deck (upgraded); the model includes an upgraded jetted tub with in-line heater. The vanity sits right next to the bathtub. It includes two sinks and is completely upgraded.

The laundry room, secondary bedrooms and bath are to the left when you come upstairs. The laundry room is first and accommodates side by side machines without any room for a sink or counter. The upper cabinets are included.

The bathroom has two sinks, but there isn’t a lot of space between them. This room actually shows the included cabinets and countertop. The backsplash and drawer pulls are upgraded. A separate door leads to the shower/tub combo (option for just a shower) shown with upgraded accent liners. There is a linen closet just outside the bathroom.

The two bedrooms both face the front of the house. They are the same size and feel spacious. Bedroom 3 has two small niches at the front, shown in the model with optional built-in bookshelves, so it feels a little bigger than bedroom 2. The recessed lights are not included. Each bedroom has a standard, two-door closet with storage above. Both rooms put the optional doors on the storage area.

The biggest difference in this home from the smaller collections is the option for a California room or conservatory instead of the standard trellis. Otherwise, the home is pretty similar to the ones I have already reviewed (Vista Scena and Corte Bella), though the rooms and overall square footage are bigger.

Residence Two

2,331 square feet

4 Bedrooms, 4 Baths

Loft, Garage Storage, Optional Den, Optional California Room, Optional Conservatory

Base Price: $935,000 ($401 per square foot)

Residence Two X

2,408 square feet

4 Bedrooms, 4 Baths

Loft, Garage Storage, Optional Den, Optional California Room, Optional Conservatory

Base Price: $855,000 ($431 per square foot)

Residences Two and Two X are almost identical and only Two X is modeled (Tuscan elevation). Two X includes a front porch and the layout upstairs is slightly different (details below). Residence Two has a door from the street that leads to a courtyard before the entry to the home. From the entry, bedroom 4 (optional den) is straight ahead, the stairway, coat closet, garage access and a bathroom are to the left and the great room, kitchen and dining are to the right. As in Residence One, the flooring and window treatments throughout the home are upgraded.

The model again shows the optional den instead of the standard bedroom. The bedroom would include a standard closet, but the den does not have one. There are optional pocket doors available with the den. The other main difference is that the entry to the bedroom is on the side, closer to the bathroom, while the den entry is at the front of the room. A single window faces the side of the house.

There is a launch area next to the garage access door. The cubbies and coat hooks are upgrades. This area is across from the bathroom and coat closet. The bathroom has a single sink and a fairly big shower (optional tub). Almost everything in the bathroom is upgraded, including the crown molding, Caesarstone countertop, tile shower surrounds and accent liners, shower floor, framed mirrors and shower enclosure. The cabinets are shown in the standard white Thermofoil; the sink and hardware are also standard.

The opposite side of the entryway leads directly into the great room and kitchen. The great room on the left is the same as the one in Residence One. It has a full wall of windows, plus two more on the other side, and an option for a fireplace (not shown). The TV frame and media unit are upgrades. There is an option to add a conservatory at the back of the great room. This would replace the standard backyard trellis and would be open to both the great room and dining room, with sliders to the backyard.

The kitchen is also very similar to Residence One. The biggest difference is a walk-in pantry in the corner, shown with the upgraded built-in cabinetry. The refrigerator, warming drawer, and beverage center are all upgrades, but the other appliances are part of the standard package, providing a nice opportunity to see what you really get in the basic home. Many other upgrades include the glass cabinet doors, countertop, backsplash, reverse osmosis and the frosted glass on the pantry door. The island is primarily upgraded, including the furniture package, cabinets, granite counter, and brushed chrome knobs. The island offers seating on two sides.

The dining room is behind the kitchen. All of the cabinetry is upgraded. The standard dining area has windows on one wall and a sliding door leading to the yard on another. For buyers who keep the standard trellis configuration, there is an option to add bifold doors in place of the windows and standard slider.

The backyard again is very small. A final option is to replace the trellis with a California room. In this case, the dining room would have sliders to the California room, which would either be open to the yard or could have bifold doors. The model shows the California room in lieu of the terrace, but doesn’t have the bifold doors.

Moving upstairs, there are three bedrooms and a loft. The laundry room sits right at the top of the stairs. It has side by side machines, with a window above one and upper cabinets above the other. Just outside the room is another set of linen cabinets. These are all shown without upgrades.

Bedroom 3 is next to the laundry room and is considerably bigger than Bedroom 2. This is one of the most spacious secondary bedrooms I have seen in comparable new homes. There are two windows overlooking the side of the home and a Juliette balcony facing the street. It has a walk-in closet, shown with an upgraded door, and an en-suite bathroom. The bathroom has a single sink and a shower/tub combo, with an option for just a shower. Only the tub enclosure is upgraded.

There is a linen closet in the hall between the two secondary bedrooms.

Bedroom 2 is smaller, but still a good size. However, the configuration doesn’t leave a lot of wall space. A big window faces the side of the house on one wall, the entry door is on another and the closet and bathroom are on a third. This closet is a slider, shown with upgraded mirrored doors and organizers. There is additional storage above. The bathroom is shown with an upgraded backsplash, but the vanity is otherwise standard. This bathroom has a shower only, without an option for a tub, and shown with upgraded accent liners that match the backsplash.

The loft is across from bedroom 2. It is much bigger and nicer than the loft in Residence One. It has one small window, plus French doors leading to a Juliette balcony. The model’s upgrades include a built-in tech center, brushed chrome tubular pulls, panel wainscot and panel mouldings with base and chair rail. There is an option to put either pocket or French doors at the entry to the loft.

Finally, the master suite sits at the end of the hall. It is bigger than the one in Residence One. Two windows face the backyard and another faces the side of the house. The coffered ceiling is standard, with upgraded paint grade crown molding. There is an option to put in a door that separates the bedroom from the bathroom.

The master bath is highly upgraded. The vanity is actually shown with the standard cabinet doors and sinks; however, the countertop and bottom shelf configuration are upgraded. The vanity is quite long, with plenty of space between the two sinks. The tub and shower are perpendicular to the vanity. The tub has an upgraded deck and decorative liner (also seen at the vanity backsplash). The adjacent shower is a good size, with a small corner shelf and seat. The frameless enclosure is upgraded, as is the square style handle. The large walk-in closet is shown with a built-in organizer and upgraded door.

As a reminder, the model shows Residence Two X. The standard Residence Two has a different layout upstairs. The loft sits right at the top of the stairs where the laundry room was and seems to be a lot smaller. Bedroom 3 is in the same spot, but is more rectangular (it is pretty square in Two X). The laundry room is where the loft was, but it doesn’t have the extra linen storage outside of it. Bedroom 2 and the master suite are unchanged.

Overall, I like Residence Two X more than Residences One and Two. I think the layout upstairs is better and I like the larger secondary bedrooms. The house feels bright and spacious.

A Look at Some Housing Stats for Irvine and Surrounding Cities: July 2014

Here are some housing market statistics for Irvine and some surrounding cities. When I reviewed these numbers, two points stood out. First, the average down payments for houses in Lake Forest and Santa Ana have increased greatly from the numbers of about a month ago. Second, when compared to numbers from about this time last month, the number of homes that sold in every one of these cities has increased.

The following numbers are for the ninety days that precede July 11.

Area Median List Price Median Sale to List Price Avg # of Offers Avg Down Payment # Homes Sold
Irvine $799,000/

$429 per SF

98.50% 2 21.70% 641
Lake Forest

$640,000/

$343 per SF

98.40% 2.3 49.60% 257
Tustin $650,000/

$369 per SF

98.20% 2.4 21.00% 185
Orange $649,000/

$345 per SF

98.50% 2.4 15.10% 350
Santa Ana $515,000/

$340 per SF

98.50% 2.2 39.30% 463
Costa Mesa $729,000/

$440 per SF

98.60% 1.5 15.00% 225
Newport Beach $2,225,000/

$927 per SF

96.30% 3 48.80% 371
Orange County $699,000/

$373 per SF

98.3% 2.5 23.90% 7,790