Author Topic: House with a Pool - Recommend?  (Read 563 times)

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Offline maulik.v@gmail.com

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House with a Pool - Recommend?
« on: March 23, 2021, 02:15:45 AM »
Hello Irvine Gurus, A newbie to the group and first time poster. Considering a potential move to Irvine from LA. Recently saw this house on Zillow, was curious on the price point/value of it, considering its in Portola Springs.. vs you can get less expensive bigger houses in Eastwood, StoneGate, Fresco, GP etc.. (probably similar size but non-view lots)..

Can you please provide some expert pointers on this property? Thx in advance!

https://www.zillow.com/homes/117-Globe-Irvine,-CA,-92618_rb/30661436_zpid/
« Last Edit: March 23, 2021, 03:16:41 PM by maulik.v@gmail.com »

Offline USCTrojanCPA

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Re: House with a Pool - Recommend?
« Reply #1 on: March 23, 2021, 09:38:52 AM »
Hello Irvine Gurus,
A newbie to the group and first time poster. Considering a potential move to Irvine from LA. Recently saw this house on Zillow, was curious on the price point/value of it, considering its in Portola Springs.. vs you can get less expensive bigger houses in Eastwood, StoneGate, Fresco, GP etc.. (probably similar size but non-view lots)..

Can you please provide some expert pointers on this property? Thx in advance!

https://www.zillow.com/homes/117-Globe-Irvine,-CA,-92618_rb/306061436_zpid/

That's a nice looking home.  It's a Juniper detached condo with a driveway that sits on a larger premium view lot (rare birds in Irvine).  The home is nicely upgraded (although I'm not a big fan of the flooring color) with a well-executed pool and rear landscaping.  Looks like the owner purchased the home for around $1.36m for all cash and probably put another $150k+ into the yard so not like they'll be making huge gains on it if it sells for around list price. Given the limited amount of inventory on the market, this home will almost certainly sell for north of $1.7m in my opinion.  It will always trade at a premium to it's peers given the oversized view lot along with the way that it has been upgraded.  View lot premiums can range anymore where $300k to $500k today in Irvine.  The same floor plan on a regular smaller lot with no view and driveway would probably sell for around $1.25m +/- in my professional opinion.  Let me know if you have any other questions.
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Offline OCtoSV

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Re: House with a Pool - Recommend?
« Reply #2 on: March 24, 2021, 09:08:01 AM »
I always thought homes with a pools trade at a discount as only a minority of buyers want them. Is that not the case these days in Irvine?

Offline zovall

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Re: House with a Pool - Recommend?
« Reply #3 on: March 24, 2021, 09:19:18 AM »
Previously, I never wanted a pool for the safety issues, maintenance costs, and likelihood it would go unused.
The pandemic totally changed my views on this. I wish I had a pool last summer. We would have used it so much given we were always at home. And my kids are a little older now and know how to swim so I'm not worried about that as much.
This summer looks like it will be quite different from last year so it might lose some appeal because the community and HOA pools will be an option.

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Offline akkord

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Re: House with a Pool - Recommend?
« Reply #4 on: March 24, 2021, 09:20:51 AM »
I always thought homes with a pools trade at a discount as only a minority of buyers want them. Is that not the case these days in Irvine?

I think Covid changed that, but I still don't want a pool with toddlers in the house even though they know how to swim.  Maybe when they are older, I'd consider it, but you have to deal with the upkeep too, more expenses. 

On the flip side, my brother has a pool and he loves having it, he has no kids yet and has the time to do everything himself. 

Most homes in Irvine have an HOA pool anyways that we'd use outside of a pandemic, so I still lean to not having a pool. 

Offline USCTrojanCPA

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Re: House with a Pool - Recommend?
« Reply #5 on: March 24, 2021, 09:26:34 AM »
I always thought homes with a pools trade at a discount as only a minority of buyers want them. Is that not the case these days in Irvine?

Per-covid there are buyers who looked at a pool as a positive and would pay a premium for having one.  Post-covid the number of buyers who valued having a pool increased and you've been seeing homes with nice pool pay higher premiums for them.
Martin Mania, CPA
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CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

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