Wow... how time flies. Haven't visited this topic for a while... but I've still been on the prowl. Isn't it weird how life get's in the way? Kid's bday party here, family gathering there... I have noticed that some of the SFR inventory is pretty stagnant. I think a lot of people in the $700-850K price range want to wait and see if the $625K conforming limit puts downward pressure on home prices.
In any event, I still keep looking at and around Irvine for homes.
West Irvine:
I currently call West Irvine home. Similar to others, I dig Ivywood, don't care for Barrington. I also am not a huge fan of the independence area (seems oddly barren). I've lived in West Irvine for 10 years now and have enjoyed every minute of it. I'd stay if we didn't outgrow our townhome (long ago). Homestead Park is great, shopping in all directions is very close buy, the freeways are close (but not too close), and there are trail everywhere. I (used to) run quite a bit and ended up with about 30 different runs/ trail runs on mapmyrun.com. The main association for WI is $55 per month, and the condo association depends on the community. I've also noticed more and more Koreans/Chinese moving into the area. About 60% of the neighbors are Korean. Now that we walk with our kid on a regular basis I say hi to more people and overall they are all friendly. IrvineRealtor is the best realtor for the area and can provide a lot of insight regarding this neighborhood and Sheridan. If interested give him a call.
I've stated before that housing is much cheaper here than in other newer areas of Irvine. Also, because newer sections were built around, the Mellos is much much cheaper. Low HOAs and low Mellos seem like the should be attractive, but they are not. The schools are good and the amenities are fine, so I figure there must be some "stigma" of WI. I'd say here and Oak Creek generally trade at a discount for those interested in newer builds.
Northpark:
Moving east and over the toll road, you have the guard gated paradise of Northpark. A good resource on tracts and floorplans is available at:
http://www.garyfallis.com/floorplans.htm
Northpark is nice because you get the guard gate and awesome parks and amenities at the very low cost of $156 per month. Compare this to Laguna Altura @ $295 where you get less. Northpark is much bigger than LA, so I'm assuming the cost is spread over a higher no of residents. It's also nice because you have 3 separate entry points into the community to help alleviate traffic, and you have hicks canyon elementary as part of the community. Yes, there are some apartments on the outskirts outside the gate. There are a wide rage of houses in NP, from townhouses to 4400 sq ft Cambria homes. Generally, the SFRs in NP start in the low-mid 800's and move up in price from there. Built in early 2000's you get lower MR than Woodbury and newer areas and also more traditional floor plans. All of the SFRs I've personally seen have smaller family rooms and kitchens, but come with a formal living and dining room. Some people like this, but I am personally more attached to the newer great room concept. Here is a good example of a NP home:
http://www.redfin.com/CA/Irvine/12-Carmichael-92602/home/5813109
Yeah, it is FU pricing, but whatever... I'd personally buy this house if it were in the 7's, but nothing close to $880K. I believe NP is covered by hicks canyon/ Orchard hills/beckman all in the TUSD. Even though this area is TUSD, people seem to love it. We know somebody from Korea that bought a house in NP having never been in CA yet based on a recommendation from a friend (yes the FCB do exist). Personally, I think Hicks/ Orchard/ Beckman is an excellent educational route for a child.
NP Square - the "B" village to NP. Not gated but also comes with a lower ~$75 HOA. Nice park in the middle and 3 entrances. Also has a separate gated (not guard) community in the soutwest end with very nice houses. Schools zoned same as NP. Mellos pretty similar as well (just a few thousand per year). Id say some of the houses are not as nice, but you do have some large 3000sq ft + floor plans. I almost bought in NP Sq in Campanile, but let the house go (glad I did).