It's a great area. I have lived in Yorba Linda for the past 8 years and I am looking to buy a home here now (I am currently renting) . Be aware that the new football stadium for Yorba Linda High School will be completed in fall of 2010 and it backs up to one section of The Manor Houses. They are beautiful, but stay away from that side. The homeowners there are trying to get the city of Yorba Linda to allow them to gate the community, but so far the city is denying the request. This could mean people parking in that neighborhood when there is an event at the adjacent Yorba Linda High School when it opens this fall. This would certainly hurt your property values there. As for Legends and Masters, neither one is within the newly approved boundaries for the new Yorba Linda High School which means although the school is less than a mile away, you will be forced to go to El Dorado which is alot farther away. The district is anticipating more transfer requests to the new school than they have openings so it could be a lottery situation.
Please be sure to read my thread warning people about Toll Bros. in Yorba Linda
http://www.irvinehousingblog.com/forums/viewthread/4742/.I have an attorney reviewing things right now and I will post again when I have any news