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

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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.