New to Irvine, seeking opinions for a property in Walnut Village/College Park

T

timatoz

New member
Hello All, I'm new to the community and would like to ask for opinions for this property and potential purchase: https://www.redfin.com/CA/Irvine/3632-Nutmeg-St-92606/home/4675323.

My target is 750k, low HOA and little mello-roose and the property above seems like a good fit. I would appreciate any opinions for the questions below:
1. House backs rail track and giant power lines; could be noisy and health impacts? I have 2 small boys.
2. Community looks a bit old and lots of parked cars on streets; Is it a good community?
3. Market timing; I bought at the high in 2006 out in IE and value had not recovered. Is it a good time to buy? I'm currently renting an Irvine apartment for $2,100/month and afraid to make the same mistake again buying at the peak. I like the Nutmeg house and can afford the payment and probably can stay for at least 5 years. Thanks.

 
For me, any house near railroad tracks or power lines is a big NO, no matter how much I love the interior. Go there at night when the trains are running and see if you can tolerate the noise. From what friends have told me in the past, it's the freight trains that rattle your house when it passes by. 

Had a friend that lived across the way in The Colony and that was a nice neighborhood. Don't know enough about College Park to comment.
 
Backing to train tracks is a non-starter. Even if you and your family aren't bothered by the trains, it will absolutely have a negative impact on the property value and ability to sell.
 
I have a 3-bedroom detached condo in Woodbury East coming up in March for $750k.  Low HOA of $134/mo and Mello Roos of about $200/mo.  Let me know if you want more details.
 
Also with the power lines in such close vicinity to your home there is bound to be some long term negative health effects. The long term health of your family should be a top priority and you want to avoid any potential negative impacts. There are no definitive studies to prove this impact but as a healthcare provider I wouldn't recommend it.
You should contact USC because in this price range there are many better options that he can guide you towards.
Good luck with your home buying process!
 
Paris said:
Also with the power lines in such close vicinity to your home there is bound to be some long term negative health effects.
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"Alternative Facts"  i.e. no basis in reality. 

That said, the train tracks are a downer. 

I also endorse having a chat with USC
 
If you're thinking that you may need to move in the not too far future, I would definitely keep in mind that it will be hard to sell this place when the time comes, because only a limited number of people will be willing to live by the train tracks and power lines. It will be hard unless there's a very hot sellers market with very little other inventory/alternatives.  If you look at the property's selling history, its been on and off the market quite a few times over the past years--pulled off after months on the MLS--maybe they ran into the same issues trying to find a buyer?
 
I also fear the train more than the power lines.

In the past I've traded off price/lot size to live close to a main road or freeway and always regretted it.
 
just to echo others that posted already.  Power lines is a definite deal breaker.  There is significant evidence that suggest EMF from these can have long term health effects.  Depending on the strength of these power lines, the distance should be adjusted.  In general you should be about 300 meters from power lines.  The ones in Irvine at not the super strong 500Kv lines fortunately. 

If you are considering the dangers of EMF from power lines, one should also consider the EMFs produced in a household as well.  WiFi, smart meters, household appliances and electronics all produce EMF.  Something to think about if you have young ones in your house...

Check out the link below.  This house is an absolute mess and im sure many will find the listing description funny, but the reason I posted it because the realtor actually advises looking into health hazards of power lines above.
http://www.zillow.com/homes/for_sal..._rect/16_zm/X1.dash.SSwuasxvva0ydn_728x4_sse/

 
Thank you for all the great comments. I'll skip this property. What about timing? I feel like it's not a good time to buy as prices are mostly higher than '06. I'm currently living in a rental and adopting "wait and see" approach. 
 
When I read that your were an IE buyer in 2006, I have PTSD flashbacks of that time.  TI was built from Irvine housing blog which was a website dedicated to warning people that housing was over inflated in 2006.

IHB went a little overboard with the 50% drops in IRVINE!!!...so the reader had to temper their understanding of human herd mentality with what they read on there.  When Larry started buying vegas properties in 2011 and 2012, it was the signal that the bull had come back. 

I almost missed my window because I thought 2013 would still be flat or lower than 2012....and I've been on this site for 10 years.  The "wait and see" approach would have been a bad strategy 2012.
 
If you're wiling to go outside IUSD, I'd suggest Baker Ranch.  That might get you the house you're looking for in your price range, with no mello roos.  But you might have to sacrifice a little bit of sq ft in exchange for a newer house. 
 
timatoz said:
Thank you for all the great comments. I'll skip this property. What about timing? I feel like it's not a good time to buy as prices are mostly higher than '06. I'm currently living in a rental and adopting "wait and see" approach.
Click to expand...

In my opinion, I think prices are flat for the near term (anywhere from -2% to +2% fluctuation). In other words, I don't see it going down or up a lot. But, it's all dependent on inventory. The new construction inflates inventory...once that dries up, prices will jump.

Consider the interest rates too. I think we'll be near or above 5% on a 30yr fixed by EOY. How does that impact your affordability if sale price is static?

I know that there are many people who are adamant that there will be a downtown similar to the one we saw 7 or 8 years ago. I just don't see that happening, especially in Irvine.
 
best_potsticker_in_town said:
timatoz said:
Thank you for all the great comments. I'll skip this property. What about timing? I feel like it's not a good time to buy as prices are mostly higher than '06. I'm currently living in a rental and adopting "wait and see" approach.
Click to expand...

In my opinion, I think prices are flat for the near term (anywhere from -2% to +2% fluctuation). In other words, I don't see it going down or up a lot. But, it's all dependent on inventory. The new construction inflates inventory...once that dries up, prices will jump.

Consider the interest rates too. I think we'll be near or above 5% on a 30yr fixed by EOY. How does that impact your affordability if sale price is static?

I know that there are many people who are adamant that there will be a downtown similar to the one we saw 7 or 8 years ago. I just don't see that happening, especially in Irvine.
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+1

I think the timing is still good.

Also don't forget about the selections.

Since the housing market is very good right now, we have very good new build selections and abundant existing home inventory to chose from. 

When and if a slow down happens, homeowner pull their property off the market and new home builder stop releasing new phases or stop building all together, the housing inventory will shrink and the selection will become very limited.  Sure, there's good deal out there but you might not find something you like.

 
I just did some quick googling, these two below might be a better fit

I agree with everyone else, train tracks and power lines are a big no no for me.  Heard from a family friend that they knew some family that lived under power lines and their kids went crazy.  I haven't seen the data but if you are pregnant and near power lines, it's probably not good odds for a healthy baby. 
https://www.redfin.com/CA/Irvine/18-Spicewood-Way-92612/home/4701728
https://www.redfin.com/CA/Irvine/9-Cherry-N-92612/home/4710991

These are zoned to University High (better school) and no MR as far as I can tell.  Though 9 Cherry might have some freeway noise issues which is a separate issue. 

*shameless plug* The Landing Residence 2 at Baker Ranch might also be a good fit.  4 bedroom 1936 sq foot, and last I checked 780k price with no MR  ;D
 
hello said:
just to echo others that posted already.  Power lines is a definite deal breaker.  There is significant evidence that suggest EMF from these can have long term health effects.  Depending on the strength of these power lines, the distance should be adjusted.  In general you should be about 300 meters from power lines.  The ones in Irvine at not the super strong 500Kv lines fortunately. 

If you are considering the dangers of EMF from power lines, one should also consider the EMFs produced in a household as well.  WiFi, smart meters, household appliances and electronics all produce EMF.  Something to think about if you have young ones in your house...
Click to expand...

"Alternative Facts"

If you have any reasonable evidence (i.e. not weekly world news class), please provide, but so far, I've seen no scientific evidence of this.
 
SoclosetoIrvine said:
I agree with everyone else, train tracks and power lines are a big no no for me.  Heard from a family friend that they knew some family that lived under power lines and their kids went crazy.  I haven't seen the data but if you are pregnant and near power lines, it's probably not good odds for a healthy baby. 
Click to expand...
"Alternative Facts"

If you have any reasonable evidence (i.e. not weekly world news class), please provide, but so far, I've seen no scientific evidence of this.
 
timatoz said:
What about timing? I feel like it's not a good time to buy as prices are mostly higher than '06.
Click to expand...

"Buy now or be priced out forever!"

"No better time than the present."

If anything, I've learned that timing is luck. Just worry about affordability. If it's more in your budget right now to rent, then rent and wait.

But if there is something you see and can afford... and if your job situation is stable and you don't have to move in the near-term, then buy.
 
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