Advice on home buying

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NeedHome

New member
We have been living in Irvine for 2+ years  and have started seriously looking for houses( moved to a month-to-month on our lease). With so much talk about Irvine housing begin overvalued and rezoning of schools , I am really confused as to where to buy property  that won't depreciate soon after I buy. My budget is 800K , schools are important  and would like to have a yard.


Any suggestions?
 
NeedHome said:
We have been living in Irvine for 2+ years  and have started seriously looking for houses( moved to a month-to-month on our lease). With so much talk about Irvine housing begin overvalued and rezoning of schools , I am really confused as to where to buy property  that won't depreciate soon after I buy. My budget is 800K , schools are important  and would like to have a yard.


Any suggestions?
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You can get a traditional single family detached home with a yard and driveway in West Irvine (zoned to Tustin schools).  Or you can buy an older home in Northwood or Woodbridge that will be zoned to Irvine schools.  Are there any Villages that you prefer more than others?
 
FOR NEW HOMES:

If you're most important thing is schools, go with Cypress Village. At 800K, Marigold is definitely in your range. They are far away from the freeway, but they are detached condominiums. Cypress Village is walking distance to Jeffrey Trail Middle School and the future Cypress Village Elementary School. Yards are small, but still...

If you care mostly about appreciation, go with Corte Bella at Orchard Hills. Has a "premium" and high elevation with views for some. Only 1800 sf, though, with virtually no yard. It is a detached condominium. Terrazza is almost 200 sf bigger with no motor courts and is closer to the shopping center and sports park, but it is zoned to TUSD so it might not appreciate as much.

If you are patient, consider Northwood Paseo. There may be a Terrazza-like home at a $50K less price or so. It has a nice location too.

I DON'T RECOMMEND GREAT PARK NEIGHBORHOODS. They are isolated from everything, close to the active dump, and mello-roos will double every 30 years!!!
 
??? said:
FOR NEW HOMES:

If you're most important thing is schools, go with Cypress Village. At 800K, Marigold is definitely in your range. They are far away from the freeway, but they are detached condominiums. Cypress Village is walking distance to Jeffrey Trail Middle School and the future Cypress Village Elementary School. Yards are small, but still...

If you care mostly about appreciation, go with Corte Bella at Orchard Hills. Has a "premium" and high elevation with views for some. Only 1800 sf, though, with virtually no yard. It is a detached condominium. Terrazza is almost 200 sf bigger with no motor courts and is closer to the shopping center and sports park, but it is zoned to TUSD so it might not appreciate as much.

If you are patient, consider Northwood Paseo. There may be a Terrazza-like home at a $50K less price or so. It has a nice location too.

I DON'T RECOMMEND GREAT PARK NEIGHBORHOODS. They are isolated from everything, close to the active dump, and mello-roos will double every 30 years!!!
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OH isn't next to landfill?
 
http://www.redfin.com/CA/Irvine/20-Ninos-92620/home/4784603

lowest $/sq ft active listing for single family home on redfin, watch out for asbestos.

northwood_zpsbd56b1b9.jpg

cheaper than foreclosure price

Huh, I might be interested in this property...
 
What about Quail Hill area?  I see houses around 700 - 800 K that are  close to 1800sft .  They seem to be similarly priced  to the newer construction  but the area seems to be nicer.
 
Orchard hills, stonegate and northwood pointe are not next to landfills. Portola springs And great park are next to landfills.

Great park is isolated from everything but stonegate/east, Woodbury/east are not.

Interesting
 
Not a fan of Quail Hill, but majority of people like it (including this forum).  I always felt claustrophobic driving into the area.  And for some reason, I'm not a fan of circular turnabout streets (near the entrance).  Houses/detached condos here do carry a premium.  You would be limited to detached condos with your price range.  Hence no yard.  If you got kids or like to entertain, that 1800 sq ft with no yard will feel cramped real fast.  And of course when you become a homeowner in Irvine, you'll join the Jones and always want to move up and waste all your time posting on forums like this.  Real estate transactions are expensive, so unless you're a realtor, buy a house you can live in for at least 4-5 years and not outgrow it anytime sooner.  I started off with a detached condo and in hindsight, should've saved another year or so for a single family home.  Market price to me is flat, so to me, if prices do start to fall, detached condos will lose value quicker than single family homes. 
 
Cypress Village is actually closer to the toxic dump sites at the great park... closer to 5 and Sand Canyon. 

Probably should just tour each community that fist your needs. I wanted a driveway and decent sized yard.. only PP was there in my price range. 

CV offers convenience to freeways and will have elementary school close by.  If you're looking for a yard though at that price range.. it's going to be tough unless you like walking out to your backyard and hitting the wall right away. 
 
jmoney74, I agree on the house size . The 2 kids are still quite young( under 8) so they do like running around. Our ideal needs are a 4 bedroom house with a  yard  but I am assuming this combination will go over 1M . I don't have problems with older houses but don't want to be too far away from  405/5 Highway. 
 
NeedHome said:
jmoney74, I agree on the house size . The 2 kids are still quite young( under 8) so they do like running around. Our ideal needs are a 4 bedroom house with a  yard  but I am assuming this combination will go over 1M . I don't have problems with older houses but don't want to be too far away from  405/5 Highway.
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Are you okay with adding Meloroos to your budget?  PP does offer bigger lots but yeah.. them MRs are higher. 

Have you also looked into West Irvine?  I moved from there.  Really enjoyed it there but the floor plans just did not work out for me for 4 bedroom homes. 
 
NeedHome said:
What about Quail Hill area?  I see houses around 700 - 800 K that are  close to 1800sft .  They seem to be similarly priced  to the newer construction  but the area seems to be nicer.
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If you prefer being closer to the 405 and newer, Quail Hill is (in my opinion) the best choice.

However, for $800k, not sure if you can find detached with a yard.
 
irvinehomeowner said:
NeedHome said:
What about Quail Hill area?  I see houses around 700 - 800 K that are  close to 1800sft .  They seem to be similarly priced  to the newer construction  but the area seems to be nicer.
Click to expand...
If you prefer being closer to the 405 and newer, Quail Hill is (in my opinion) the best choice.

However, for $800k, not sure if you can find detached with a yard.
Click to expand...

Oak Creek is another option in your price range that is close to the 405, and cheaper than Quail Hill.  However, it is right next to the 405 so the noise and pollution are factors to consider (especially with young children).
 
meccos12 said:
ps9 said:
http://www.redfin.com/CA/Irvine/20-Ninos-92620/home/4784603

lowest $/sq ft active listing for single family home on redfin, watch out for asbestos.

northwood_zpsbd56b1b9.jpg

cheaper than foreclosure price

Huh, I might be interested in this property...
Click to expand...

what actually does a foreclosure price mean? 
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It either means that was the opening bid at the foreclosure auction that no one bid on so it went back to the lender as an REO (or it's the highest bid of a 3rd party investor/flip and doesn't become an REO).
 
I saw a house say it sold for let's say $100,000 when the market value is $150,000.  The house was never for sale, but a redfin alert popped up saying it sold.

Any idea what that means? 
 
thatOSguy said:
Coleman said:
I saw a house say it sold for let's say $100,000 when the market value is $150,000.  The house was never for sale, but a redfin alert popped up saying it sold.

Any idea what that means?
Click to expand...

Could have transferred title, possibly within a family.
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Or some other private transaction that never went onto the market (MLS).
 
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