Archive for January, 2008
January 27, 2008
I may have spoken to quickly the other day when I asked if you’d spend $1 million for a home without instant beach access in a place like Aliso Viejo.
Well, after the three days of rain we have had, there might be quite a bit of water in AV these days. And if that doesn’t interest you, maybe these discounted prices on homes will.
4 Hawksmoor: The list price was “$669,900″ and changed to “$668,777.” Four br/2.5 baths, 1,950 sq. feet, two-levels, single- family residence, panoramic views.
118 Nightingale Dr.: The list price was “$517,900″ and changed to “$485,000.” Three br/2.5 baths, 1,355 sq. feet, condo, two-levels, trees/woods.
57 Conch Reef: The list price was “$419,900″ and changed to “$409,900.” Two br/2 baths, 1,103 sq. feet, condo, one-level, tucked in back of community.
January 26, 2008
Sold It! is probably how a few homesellers in the IBC are feeling. Today I am writing about what has sold recently in the IBC area. The answer is not much.
Many of the high-rise homes in the IBC were bought as an investment instead of as a home, some say as much 40% to 60%. (For my opinion on flippers, see “Flip This! The Virtue of House Flipping.”) Of the two that sold recently and show the past sales information, both took a lost (one is most likely a foreclosure). Both were recent purchases, 2006 and 2005; so this is not a surprise. The problem just might be that these homes were built as high-priced, urban-living homes. That worked during the boom, but even then what was needed was workforce-priced homes.
A comment that I read recently said that on the East Coast this type of housing is built as a matter of economics to provide affordable housing; however, the goal here in Orange County was to build and market these homes as a means to a high-end, urban-village lifestyle. Sounds like a post for another time!
Sold within the Last Three Months in Irvine’s IBC:
3142 WATERMARKE PLACE, IRVINE 92612-5614
Sold for: $212,500 on 12/06/2007
Past sales: on 03/02/2006 for $435,000
Bed/bath information not listed
2225 WATERMARKE PLACE, IRVINE 92612-7686
Sold for: $356,000 on 11/02/2007
Listed for: $356,000
Bed/bath information not listed
2447 WATERMARKE PLACE, IRVINE 92612-7697
Sold for: $430,000 on 11/27/2007
Listed for: $439,000
Bed/bath information not listed
2243 MARTIN APT 410, IRVINE 92612-1453
Sold for: $365,000 on 11/21/2007
Listed for: $350,000
Note: listed as contingent in September 2007, also listed as contingent in August 2007 but changed to active status a few days later
Past sales: 06/13/2005 for $400,000; on 01/14/1994 for $131,000
Bed/bath information not listed
1320 SCHOLARSHIP, IRVINE, CA 92612-5686
Sold for: $405,500 on 12/27/2007
Bed/bath information not listed
For more on the housing activity in Irvine’s IBC, see yesterday’s post “Irvine’s Watermarke in the IBC” as well as the past post “What’s New, IBC-Style?“.
January 26, 2008
A headline on Thursday’s Tustin News of the OC Register caught my eye (and stomach), “Old Tustin Garage gives way to restaurant.” Taking an old service garage and converting it into a restaurant sounds like a messy job. However, to Tim DiCinces, Beach Pit BBQ owner, it was an obvious choice. He says, “I’ve had the vision for that building and bringing it to life for a long time.”
This is the second location for the Beach Pit BBQ. The flagship restaurant can be found in an old house on 1676 Tustin Avenue in Costa Mesa. According to the Register, “The Costa Mesa location is in a renovated house and has mostly outdoor space and the feel of ‘backyard barbecue,’ [DiCinces] said. With the new location, he wanted to create the character of a barbecue roadhouse.” Beach Pit BBQ’s newest (and second) location is in Old Town Tustin at 560 El Camino Real and opens to the public on Monday, January 28th.
The new Old Town Tustin location, formerly the old Tustin Garage, is a historic building, built in 1915, having served motorists going between LA and San Diego in the early-to-mid 1900s. The Tustin Preservation Conservancy was quite supportive of DeCinces effort to open a restaurant in Old Town: “The conservancy, which supports the preservation of Old Town Tustin, was in agreement with the Beach Pit because of its adaptive reuse — preserving the historic building but turning it into a business or dwelling that fits with the community.” DeCinces has been working on the building’s restoration for two years.
On the company’s website, Tim Dinces talks about where the idea of such a restaurant came about:
“Throughout eight years of professional baseball, I was able to see many parts of the country and taste the various culinary cultures of our country. I fell in love with not only the taste, of true, wood smoked southern BBQ, but also the hospitality and comfort that came with it… To ensure we could capture the centuries old skill that southerners hand down from generation to generation, I enlisted the help of a few of my favorite eating stops down in the bus leagues. My partners and I as well as our manager have gone back to a few of these joints in the deep south for ‘BBQ boot camp’ if you will.”
Back in May 2006, the Costa Mesa location was featured on ABC Channel 7′s “Dining with Dills” where Elmer Dill couldn’t speak more highly of a down-home, casual barbecue place that served “the real ‘Q’”. His account described entering the gates of the old property and being greeted by the resident host, a dog. Another first-hand experience can be found on “The New Diner” blog.
Sounds yummy and fun… going to have try it out. With dinners priced moderately from around $14 for a plate and $9 for a sandwich, the price is pretty appealing, too. On a random side note, does anyone think the Beach Pit BBQ sounds like 90210‘s famed Peach Pit? All I can think of is Nat behind the counter doling out some good advice.
January 25, 2008
What do these three leading ladies have in common? Their lives all revolved around a castle. With the inspiration of these leading ladies, we’re going to take a look at the Castille (take off on the Spanish castle) neighborhood in central Mission Viejo.
This neighborhood has a lot to offer in regards to a great central location, nearby parks (5 within about 3/4 of a mile), and relatively good access to I-5.
On The Market:
23831 Via Navarra
3 beds /2 baths
1,405 Sq Ft
Previously Listed: $650,000
Currently Listed: $625,000
Reduced: 11.9.07
27282 Via Avila
4 beds / 3 baths
2,500 Sq Ft
Previously Listed: $745,000
Currently Listed: $699,900
Reduced: 10.30.07
23891 Via La Coruna
4 beds / 3 baths
1,883 Sq Ft
Previously Listed: $559,000
Currently Listed; $549,000
Reduced: 1.24.08
23771 Via Calzada
5 beds / 3 baths
2,170 Sq Ft
Previously Listed: $567,000
Currently Listed: $557,000
Reduced: 1.17.08
Past Sales
23572 VIA BREVE
4 beds / 2.5 baths
2,538 Sq Ft
Listed at: $789,900
Sold For: $769,500
Closed On: 11.29.07
23691 VIA NAVARRA
4 beds / 2 baths
1,640 Sq Ft
Listed at: $569,900
Sold For: $545,000
Closed On: 10.29.07
23722 LAGARTO
3 beds / 2 baths
1,854 Sq Ft
Listed at: $724,900
Sold For: $655,000
Closed On: 12.11.07
23772 LAGARTO
4 beds / 2.5 baths
2,230 Sq Ft
Sold For: $625,500
Closed On: 12.06.07
January 25, 2008
The Watermarke is one of Irvine’s newer developments in the Irvine Business Complex (IBC) area of Irvine. The IBC is an area in Irvine that was once largely light industrial but is developing into a live-work-play area that appeals to many young professional as well as empty nester who want to downsize. Those who work in this area might also benefit from living in the IBC, that is, if they can afford it.
The need for housing in Irvine and Orange County is great, so this type of high-density housing makes sense in some cases. More affordable home prices were often the trade off for the increased density. However, developers recently have concentrated on the high-end priced homes in these high-density developments. But the market is changing, so that might change.
The Watermarke architectural style is European; association dues are $300 a month; property taxes are 1.25%. Amenities include courtyard gardens, pools, playgrounds, concierge services, private screening room, and clubhouse. Close by is the San Joaquin Marsh, the John Wayne Airport and numerous shopping centers.
To see what is currently available in the Watermarke, click on the interactive map: Watermarke Place map. You might also be interested in the following:
3403 Watermarke Place, Irvine
What: 2005 condo, 1 bed /1 bath, 726 sf
Asking price: $380,000
Open: Saturday, January 27 at 1-4 pm
3274 Watermarke Place, Irvine
What: 2005 condo, 2 bed / 2.5 baths, 1482 sf
Asking price: $598,888
Open: Saturday, January 27 at 1-4 pm
For more information on housing in this live-work-play district in Irvine, see “Urban Living in Irvine: Live-Work-Play on Martin Street.”
See tomorrow’s post for information on what is selling in the IBC.
PHOTO COURTESY Equity Corporate Housing
January 25, 2008
We all know foreclosure rates are rising. People are losing their houses right and left. December marked the second-highest monthly total (644 homes foreclosed on) since DataQuick started tracking foreclores in 1998. Default notices were up 115.6% in one year (up from 1,983 in the last quarter of 2006 to 4,726 in the last quarter of 2007).
With the rise in foreclosures, we’re seeing more and more home auctions. If you ever wanted to jump on board and buy a home in a public auction, now’s the time. Grab a pen and get ready to mark your calendar for several upcoming public auctions.
Saturday, February 2: Real Estate Disposition Corporation (REDC) will hold a public auction on over 185 homes at the Anaheim Convention Center. To pre-register and get more information on the properties go to the REDC’s website. Tips from the OC Register regarding this auction:
- “The company adds 5 percent to the winning bid amount to come up with the total that the bidder must actually pay.
- While the opening bids on many properties are quite low, the sellers aren’t obliged to accept low bids. Each property in the auction has a so-called reserve price that isn’t disclosed to bidders. If bids don’t rise above the reserve price, the home can be retained by the seller.
- Buyers must arrange financing before the auction or plan on using the auction-approved lender, Countrywide Home Loans.
- Buyers must show a $5,000 cashier’s check at the auction to bid. They can pay the rest of any down payment by personal check.”
Tuesday, February 12: Real Estate Disposition Corporation (REDC) is holding another auction for Park Larson Condominiums to sell 26 Garden Grove condos. Condos are up to two bedrooms and one-and-a-half bathrooms and are said to be valued at $389,900 (starting bid is $129,000). To be held at the Anaheim Crowne Plaza. Register and get more information here.
Thursday, February 14: Williams & Williams is hosting an auction on 212 North Carleton Avenue in Anaheim. This 836-square-feet single-family house two bedrooms and one bathroom. This house last sold for $405,918 on October 2, 2007, and before for $480,000 on October 13, 2006. An open house will be held on Sunday, February 10th and two hours prior to the auction at 5:15 p.m. on February 14th. The starting bid will be $10,000.
Recent Sweet Digs Posts:
Open Houses 1/27 in Orange, Tustin, and Villa Park
Dana Point Open Houses Jan. 26-27
Sold in Tustin’s Panorama Heights
January 25, 2008
The weather forecast for this weekend says showers all weekend. If you feel like venturing out into the rain, you might want to check out some of these open houses.
$500,000 to $750,000
504 North Waverly St, Orange 92867; 3 bed/1 bath house; 1,358 sq ft; $525,000; Open Sunday 1pm-4pm
13301 Bubbling Well Rd, Tustin Ranch 92780; 3 bed/2bath house; 1,471 sq ft; $589,000; Open Sunday 12:30pm-4:30pm
12841 Brittany Woods Dr, North Tustin 92705; 3 bed/2 bath house; 1,763 sq ft; $699,000; Open Sunday 1pm-5pm
$750,000 to $1,000,000
6723 East Bonita Ct, Orange 92867; 4 bed/3 bath house; 2,588 sq ft; $810,000; Open Sunday 1pm-4pm
Over $1,000,000
9811 South Oakwood Cir, Villa Park 92861; 4 bed/3 bath house; 2,300 sq ft; $1,098,000; Open Sunday 1pm-4pm
1811 Holly Tree Ln, North Tustin 92705; 4 bed/3 bath house; 3,400 sq ft; $1,425,000; Open Sunday 1pm-4pm
January 24, 2008
You might need to grab your rainboots and umbrellas this weekend while house-hunting in South County. Places like Dana Point have several showings, and you’re in luck as they are either on the same street or right near one another so you shouldn’t get too wet.
35414 Via de Daum: Five bedroom/4 bath, single-family residence, 3,800 sq. feet, two-levels, builder’s close-out. Price Tag: $1.6+ Million. Payments? Roughly, that’s a payment of $8,500+K per month. Open House: Sat and Sun 12-4
27584 Vista de Dons: Five bedroom/4 bath, single-family residence, two-levels, 4,100 sq. feet, also builder’s close-out. Price Tag: $1.7+Million. Roughly, that’s a payment of $9,000+K per month. Open Sat an Sun 12-4
27568 Vista de Dons: Four bedrooms/4 bath, single-family residence, two-levels, 3,550 sq. feet, builder’s close-out. Price Tag: $1.5+Million. Roughly, that’s a payment of $8,000+K per month. Open House Sat and Sun 12-4
January 24, 2008
East of Newport Avenue and north of Foothill Boulevard is the unicorporated community of Panorama Heights. I’ll give you one guess from its name as to why it’s a wonderful place to live… the views!!! Whether you’re up the hill a little or down lower, large lots coupled with nature will give you a great environment. Up the hill, you’ll have awesome city views, some can see the ocean on a clear day.
The community is part of the Tustin Unified School District. Panorama Heights students go to Arroyo Elementary School (10 out of 10 on GreatSchools.net), Hewes Middle School (8 out of 10), and Foothill High School (9 out of 10). All considered good schools. Arroyo Elementary School was even named a Blue Ribbon school (as featured in November’s post “North Tustin: Near Good Schools and Sold!“).
Sold on this community? You’re not the only one. Check out what sold recently below. Since it’s an older community, it’s a little hit or miss as to what kind of condition a home will be in. Some have been renovated/remodeled to become the most breathtaking homes. Others are in a time warp with 70′s charm still in every room. Most of the time-warped homes need cosmetic fixing, making for a great investment opportunity (to sell five years down the road, not now, of course).
Sold
13012 Saint Thomas Drive
4 bed/2.5 bath; 2,074 sq ft
List price: $899,000
Sold price: $810,000; Sold date: 12/19/07
Details: Built in 1964. Older ranch style home that needs updating. Great lot size at over 17,000 sq ft.
18912 Fowler Avenue
3 bed/2 bath; 2,065 sq ft
List price: N/A
Sold price: $674,900; Sold date: 11/27/07
Details: Built in 1961.
13141 Barrett Hill Circle
3 bed/2 bath; 1,904 sq ft
List price: $789,999
Sold price: $790,000; Sold date: 11/21/07
Details: Built in 1965. Nice well-kept moderate home. Lot size about 10,000 sq ft. Pool and jacuzzi in back.
For Sale
19432 Barrett Hill Circle, North Tustin 92705; 4 bed/4 bath; 3,300 sq ft; $1,999,999
18962 Fowler Avenue, Santa Ana (North Tustin) 92705; 5 bed/3.5 bath; 3,500 sq ft; $999,999
12871 Barrett Lane, North Tustin 92705; 2 bed/2 bath; 1,516 sq ft; $829,900
January 23, 2008
What’s the first thing a potential buyer will see when they pull up to your house? Uh, the outside? Yes, this might seem obvious, but, believe me, it gets overlooked way too much. Especially in rainy weather, you need to ensure your house is well kept, inside and out, when on the market. You never know who might do a drive by before deciding to check out the inside. I searched high and low and have compiled a checklist for making the outside of your house shine.
Cheap and easy must-do’s:
Wash your windows. Clean windows are like a bright-white smile on your face, guaranteed to sparkle.
Remove clutter. Your children can live for awhile with just one outdoor toy in the yard, instead of 20. If you have to keep bikes and other stuff outside, make sure it looks organized and orderly, not just thrown in the backyard.
Trim overgrown bushes and weed collections. Neat and tidy gardens will best show off your house.
Keep your lawn and garden well maintained. Cut lawn, sweep walkways, and rake leaves regularly. And don’t forget to pick up after any pets. The last thing you want is for a buyer to walk away with a smelly token on his or her show, not the way you want to be remembered.
Put out a welcoming welcome mat and a pot of flowers. Like church clothes for your house.
Good ideas if you can afford it:
Fix doorbells, outside lights, and house numbers if not working. First signs to the buyer that the house has either been well cared for or neglected.
Power wash everything (sidewalks, siding, windows, driveways, etc.).
Paint trim, fences, patio structures, front door, and even the whole house. For a little money, make your house look fresh with newly painted trim. For a lot of money, give your house a completely new look by painting it all in a nice appealing neutral color. The most popular exterior color in the U.S. is white or off-white, followed by beige. In last place is red and pink.
Fix gutter issues, shutters that are worn, old/broken garage doors, and any roof issues.
References:
Audrie’s “Selling your own home: tips for the exterior”
Home Life Magazine’s “Tips From the Pros… Selling Your House in a Soft Market”
Orange County Report’s “Things to Do Before Selling Your Home”
Recent Sweet Digs Posts:
Dana Point:It Ain’t No Laguna Beach
The Ladera Issue
