A Review of the Corte Bella Tract at Orchard Hills3

Today, I will introduce you to the Corte Bella neighborhood in Orchard Hills. This is the third smallest set of homes and is on the Orchard Hills II side. These Irvine Pacific homes have 3-4 bedrooms and 2.5-3 bathrooms. They range from 1,833 square feet to 2,101 square feet. All homes have a two-car garage. Residences Two and Three have a bedroom downstairs.

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.

Corte Bella is the farthest east of all of the homes. They are high in the hills and some will have gorgeous views. Most of the streets are very short, with only three houses on each side. There will be a total of 118 homes in the neighborhood. All Corte Bella homes are currently zoned for the Irvine Unified School District (always best to confirm this with your sales agent). Students are assigned to Canyon View Elementary, Sierra Vista Middle School and Northwood High School.

Basic Neighborhood Financial Information

Approximate HOA Dues: $196 per month

Approximate Tax rate: 1.06%

Approximate Mello Roos: $3712 per year (AD Tax: $1,850; CFD Tax: $1,700; other tax $162)

Overall Effective Tax Rate: 1.5%

Prices start at around $820,000 for Residence One, $850,000 for Residence Two, and $870,000 for Residence Three.

Residence One

1,833 square feet

3 Bedrooms, 2.5 Baths

Base Price: $820,000 ($447 per square foot)

Residence One is modeled in the Formal Spanish elevation; this home also has an Early California elevation. Select lots will have additional windows on the exposed side of the home, including one each in the master bedroom closet, the laundry room, and on the stairway. When you enter the home, the stairs are on the right – with a large storage closet underneath – and the hall leads back to the great room and kitchen. There is a nice little nook tucked in by the staircase, offering a nice spot for a small table or entry bench.

The powder room is actually three steps up from the entryway, on the first landing of the main staircase. I don’t really like this, as it isn’t accessible for visitors who can’t climb stairs. It is otherwise a fine bathroom, with a pedestal sink and a window facing the street. The framed mirror is an upgrade.

At the back of the house, the great room is on the left and the kitchen is on the right. The dining area is straight ahead at the end of the hall. The dining area has a big window and three recessed can lights.

The great room is an average size, with windows on two walls and a sliding door leading to the yard. The crown molding and recessed lights are standard features. The media built-in unit is an upgrade.

The kitchen is pretty much entirely upgraded, so other than the layout, it isn’t a true representation of the standard package. The large center island offers bar seating, storage cabinets and an optional wine/beverage center. The dishwasher and sink are along the back with a window to the yard. The range, refrigerator and ovens are all along the side, with some counter space surrounding the range. The walk-in pantry is shown with the upgraded organizer. The setup seems functional, though I would have liked to see the dishwasher closer to the cabinets and drawers.

The backyard is very small. There is room for a table and barbecue, but not much space for anything else.

All of the bedrooms in Corte Bella are on the second floor. At the top of the stairs, the laundry room and master suite are to the right. The two secondary bedrooms are down the hall in front of you. The laundry room has side by side machines and included upper cabinets. There isn’t really space for a sink or to add more storage.

The master bedroom is a good size and has windows overlooking the side and backyard. It has space for a sitting area in the corner. The coffered ceiling is standard, but the recessed lights and crown molding are upgrades.

Like the kitchen, the master bathroom is almost entirely upgraded, including cabinets, drawer pulls, jetted tub, vanity detailing, marble countertop and tub surround, and the tile backsplash. The vanity on the right houses both sinks but doesn’t have a lot of space between them. The bathtub and shower setup are similar to many of the new homes I have seen recently, with a shared deck on one side. The standard tub does not have jets. The shower is a good size, with a small seat and shelf in one corner. The closet is average sized and is shown with the standard single shelf and pole.

The main hallway has big linen storage area. The bathroom shows the standard white Thermofoil shaker cabinets and white cultured marble countertop. All of the hardware on the vanity and sinks are included, except the drawer pulls at the bottom of the vanity. The backsplash is also standard. A door separates the sinks from the shower, which has upgraded tile throughout. Though the shower/tub combo is standard, buyers can opt for just a shower.

Bedrooms 2 and 3 are pretty similar in size, though the small entryway in Bedroom 2 makes it feel more spacious. Both bedrooms overlook the street and also have windows on the side. Bedroom 3 has a Juliette balcony. Both closets are standard, two-door sliders with storage above (cabinet doors not included), though they seem a little smaller than in other homes.

This home had a lot of similarities to the Vista Scena homes I reviewed last week. The overall layout is basically the same and they have most of the same standard features. The benefit to Corte Bella over Vista Scena is a little more square footage and these are single family homes, rather than the townhomes at Vista Scena.

Open House Review: 205 Falling Star

Single Family Detached 4 Bedroom, 3 Bath Woodbridge Home Inside Loop

205 Fallingstar $869,000

Drive down West Yale Loop until it turns into East Yale Loop and then make a quick left on Fallingstar. There, in the first house on the corner you have a hint of what the ‘inside the loop’ designation does to the price. This 4 bedroom, 3 bath home is just barely inside the loop, sitting on the corner of Yale Loop, but its price is similar to several homes that I have seen in the outer loop recently that have more options and more upgrades. The question the buyers have to ask is what counts the most for them. Over the weekend, open house visitors were coming through, some talking about planning purchases in time for school in the fall. The broker was also suggesting the property could be an excellent investment rental.

Significant Numbers: This two level, 4 bedroom, 3 bath home has been on the market a little over 20 days. It is 1,900 sq.ft, sitting on a 3,485 sq. ft. lot at $457 per sq. ft. HOA dues are $82. The home was built in 1984.

Close up: From the curb the home has a strong presence with green lawn overlooking Yale Loop. Inside, four bedrooms and three baths on two levels seem a little condensed in space with the back patio being private but also a little snug. The first impression is almost condo like instead of single family.

To the left the living room with brick fireplace opens to the paved patio.

The dining room is also to the left of the entrance.

Straight ahead, the good sized family room overlooks the patio and pairs with the kitchen with breakfast bar. The kitchen has granite counters, stainless sink and black and stainless appliances. There is an inside laundry.

The paved patio with brick planter, wall and fencing is a secluded space nicely defined for barbecue, fire pit, dining and relaxing. Although it is snug it has a nice indoor/outdoor room effect that opens up the rest of the home.

To the right of the entry there is a downstairs bedroom with full bath and double vanity with walk-in closet.

Upstairs there are three more bedrooms and two full baths.

Laminate wood flooring, travertine tile, plush carpeting, high ceilings and recessed lighting work well throughout. There are new double paned windows and sliding glass doors. The home is currently occupied by an active family that makes good use of the space.

More specifics:

Single family home

Bedrooms, 4

Baths, 3

Detached, no common walls

Forced air heating, central air

Two car garage

Two parking spaces

Inside laundry

Association pool, spa

Irvine Unified School District

What should be considered? Location and detached single family designations obviously effect price and the buyer has to decide how much that impacts what he wants and what he gets in square footage and effective upgrades. Outside space is quite private but rather snug. The Woodbridge lakes, community atmosphere and top schools are available inside and outside the loop, leading to the question of how much inside the loop location counts particularly when it is right on the edge, as this property is.

Who will move in? This is obvious family material with 4 bedrooms and 3 baths and a family with active middle school or teens would benefit from Woodbridge’s many community, recreational and local school assets. As the broker suggested, it could also be an effective investment rental property. With a downstairs bedroom included, the property may attract families with older members too.

Recent nearby listings: 24 Chenile, $898,000; 4 Whitecloud, $859,000

Recent nearby sales: 15 Hazelnut, $775,000; 9 Warmspring, $899,000

Open House Review: 180 Pineview

This home is the largest plan in the Lakes Community of Northwood and has a rare attached two car garages. It is a two level condominium, with kitchen, dining area and living room downstairs and two bedrooms upstairs with a jack-and-jill bathroom. I have reviewed other units in the community, but none had an attached garage.

Asking Price: $464,888

Bedrooms: 2

Bathrooms: 1.75

Square Footage: 1,366

Lot Size: 1,307 square feet

$/Sq Ft: $340

Days on Market: 65

Property Type: Condominium, Residential

Year Built: 1978

Community: Northwood, The Lakes

HOA dues are $310 per month and there are no Mello Roos taxes.

The home is a middle unit, sharing walls with neighbors on each side. Unlike some of the other homes in the middle of the tract with an open patio, 180 Pineview is at the end of the row of condominiums so it has more of a private patio with walls on the left and right and opens in the front to the stream. This home is move-in ready with an updated kitchen, wood floors throughout, fresh paint, updated bathrooms, and laundry hookup located in the attached garage. The downside of the home is it has original windows and the deck upstairs need to be replaced. It also seemed that it lacked some natural light due to the trees and placement of the home.

Upon entering, you walk onto a marble floor with the garage entrance to the left and half bathroom straight ahead. Immediately to the right is the kitchen with a walk-through into the dining room that looks out to the stream through large windows. The kitchen is galley style with wood floors, a small eating nook which faces out to the front, upgraded neutral cabinetry, granite countertops, white appliances and a small pantry.

At the end of the kitchen is the dining room. It is a good size area with floor to ceiling windows that look out to the stream and trees.

The living room is next to the dining room. With the cathedral ceilings, large sliding glass door and a large window that sits above the slider, the room seems spacious and airy. On the backside of the kitchen is the living room’s fireplace. The sliding door opens up to a tiled patio. It is partially enclosed with walls on each side, but is not completely private with access to the neighbor’s patio through some bushes.

The half bathroom is updated with marble flooring, new sink and lighting.

Once upstairs, there are two doors on opposite ends of the hall leading to the bedrooms. The first bedroom has an opening in the wall with shutters to close for privacy. With cathedral ceilings and large windows, the room is light. A walk-in closet sits next to the bathroom. The bathroom is remodeled with marble flooring, new sink, lighting, mirror and Jacuzzi tub. There is another door next to the sink, leading into the other bedroom’s vanity and closet area.

The second bedroom is a good size. It has a large sliding glass door leading out to a wood balcony. The balcony is in need of repair and I did not feel comfortable standing on it, but I am not sure if it is the HOA or the owner’s responsibility to repair it. However, once repaired it is a beautiful, tranquil area that overlooks the stream. There are two mirrored sliding closets in a short hallway with a single sink at the end. There is a sliding door that leads into the other bedroom’s bathroom. It would have been nice if the closet/vanity area had a privacy door in the case someone from the other bathroom opened up the sliding door. The privacy door would also be nice for noise and light in the mornings and evenings if someone was still in bed trying to sleep. I would prefer if a toilet was added so the one bathroom would not need to be shared as often.

The updated condominium has back on the market after it fell through escrow. The home sits near the entrance to the community, and is just down the street from Santiago Hills Elementary School and walking trails. There is plenty of street parking outside of the entrance for guests to park The home seemed to lack some natural light downstairs but it had a nice view of the stream and trees. The only other things I would want to update the home with is a full second bathroom upstairs and a new balcony. The biggest selling point is the attached two car garage with laundry hookup and the semi-private patio.

Open House Review: 180 Pineview

This home is the largest plan in the Lakes Community of Northwood and has a rare attached two car garages. It is a two level condominium, with kitchen, dining area and living room downstairs and two bedrooms upstairs with a jack-and-jill bathroom. I have reviewed other units in the community, but none had an attached garage.

Asking Price: $464,888

Bedrooms: 2

Bathrooms: 1.75

Square Footage: 1,366

Lot Size: 1,307 square feet

$/Sq Ft: $340

Days on Market: 65

Property Type: Condominium, Residential

Year Built: 1978

Community: Northwood, The Lakes

HOA dues are $310 per month and there are no Mello Roos taxes.

The home is a middle unit, sharing walls with neighbors on each side. Unlike some of the other homes in the middle of the tract with an open patio, 180 Pineview is at the end of the row of condominiums so it has more of a private patio with walls on the left and right and opens in the front to the stream. This home is move-in ready with an updated kitchen, wood floors throughout, fresh paint, updated bathrooms, and laundry hookup located in the attached garage. The downside of the home is it has original windows and the deck upstairs need to be replaced. It also seemed that it lacked some natural light due to the trees and placement of the home.

Upon entering, you walk onto a marble floor with the garage entrance to the left and half bathroom straight ahead. Immediately to the right is the kitchen with a walk-through into the dining room that looks out to the stream through large windows. The kitchen is galley style with wood floors, a small eating nook which faces out to the front, upgraded neutral cabinetry, granite countertops, white appliances and a small pantry.

At the end of the kitchen is the dining room. It is a good size area with floor to ceiling windows that look out to the stream and trees.

The living room is next to the dining room. With the cathedral ceilings, large sliding glass door and a large window that sits above the slider, the room seems spacious and airy. On the backside of the kitchen is the living room’s fireplace. The sliding door opens up to a tiled patio. It is partially enclosed with walls on each side, but is not completely private with access to the neighbor’s patio through some bushes.

The half bathroom is updated with marble flooring, new sink and lighting.

Once upstairs, there are two doors on opposite ends of the hall leading to the bedrooms. The first bedroom has an opening in the wall with shutters to close for privacy. With cathedral ceilings and large windows, the room is light. A walk-in closet sits next to the bathroom. The bathroom is remodeled with marble flooring, new sink, lighting, mirror and Jacuzzi tub. There is another door next to the sink, leading into the other bedroom’s vanity and closet area.

The second bedroom is a good size. It has a large sliding glass door leading out to a wood balcony. The balcony is in need of repair and I did not feel comfortable standing on it, but I am not sure if it is the HOA or the owner’s responsibility to repair it. However, once repaired it is a beautiful, tranquil area that overlooks the stream. There are two mirrored sliding closets in a short hallway with a single sink at the end. There is a sliding door that leads into the other bedroom’s bathroom. It would have been nice if the closet/vanity area had a privacy door in the case someone from the other bathroom opened up the sliding door. The privacy door would also be nice for noise and light in the mornings and evenings if someone was still in bed trying to sleep. I would prefer if a toilet was added so the one bathroom would not need to be shared as often.

The updated condominium has back on the market after it fell through escrow. The home sits near the entrance to the community, and is just down the street from Santiago Hills Elementary School and walking trails. There is plenty of street parking outside of the entrance for guests to park The home seemed to lack some natural light downstairs but it had a nice view of the stream and trees. The only other things I would want to update the home with is a full second bathroom upstairs and a new balcony. The biggest selling point is the attached two car garage with laundry hookup and the semi-private patio.

Irvine Housing Overview: Condos and Houses—May 2014

Below are numbers provided by Redfin for Irvine’s May housing market. (Note: The June number will be available in a few days.) The numbers are broken down so that the statistics for condos and houses can be seen.

At our last look at these numbers, a lot more homes in all categories sold in April than was true earlier this year, and more homes were on the market in April than was true earlier this year. The May numbers show the number of homes on the market is continuing to rise; however, the number of homes sold has slowed down.

Also note that Altos Research states that the Market Action Index (MAI) for Irvine’s single-family housing market was 37.08 on June 27, 2014. According to Altos, above 30 indicates a sellers’ market, below 30 indicates a buyers’ market.

Following is Irvine’s 2014 housing market data as provided by Redfin.

Type List Price/# Homes Listed Sold Price/# Homes Sold List Per SF Sold Per SF % Chg Y-O-Y Sold Price/SF
Houses
14-May $1,060K/334 $895K/100 $444 $448 8.50%
14-Apr $1,096K/270 $900K/97 $447 $440 11.70%
14-Mar n/a n/a n/a n/a n/a
14-Feb $1,090K/203 $905K/57 $451 $420 10.50%
14-Jan $1,082K/170 $832K/62 $461 $429 22.20%
Condos
14-May $590K/332 $570K/125 $413 $402 5.20%
14-Apr $590K/310 $550K/125 $411 $394 4.50%
14-Mar n/a n/a n/a n/a n/a
14-Feb $599K/248 $560K/80 $406 $395 13.50%
14-Jan $603K/226 $626K/58 $406 $392 20.60%
All
14-May $788K/704 $722K/238 $422 $421 7.40%
14-Apr $778K/618 $678K/247 $425 $409 7.60%
14-Mar $799K/487 $680K/na $435 $407 n/a
14-Feb $745K/479 $665K/145 $421 $400 10.50%
14-Jan $412K/422 $688K/130 $422 $412 23.40%