Your opinion on this condo listing in Woodbridge plz

NEW -> Contingent Buyer Assistance Program
J

justrollinginIRV_IHB

New member
Listing ishttp://www.redfin.com/CA/Irvine/13-Park-Vis-92604/unit-31/home/5469414





Beds: 2 Baths: 2 Year Built: 1977

Sq.Ft.: 1,235 Lot Size: -

$/Sq.Ft.: $385 MLS#: S568350



I know the $385 is high compared to the trend in this economy, but there are numerous upgrades throughout the property. It is hard to do comps in the area, seems no other similar property has been sold since late 2008?



Also, the woodbridge association is $350 !!! Wow... a few things to consider ... great schools - my kids are still in elementary school.



Your opinion is appreaciated!

Thanks
 
<a href="http://www.redfin.com/CA/Irvine/13-Park-Vis-92604/unit-31/home/5469414">13 Park Vis 92604</a> > Clickified



Welcome to the boards.
 
You said you have kids (plural) and this is only a 2 bdrm. Don't you think that would be sort of cramped for a long-term living situation? Twelve hundred sq ft is not a lot of space... and the kids -- they only get bigger. You wouldn't have much privacy, that's for sure. Don't get bedazzled by its cuteness. It's not worth anything close to that sticker price. If all you want is a 2 bdrm, you might as well stay in an apartment with $0 in HOA dues, the same upgrades, the same great schools, and also 30 years newer. Good luck.
 
As a parent of three kids under the age of 15, I look at everything from the perspective of how the house and the location will make your life easier. So, while this advice doesn't have anything to do with upgrades or the prestigousness of the address, you should think about the following:



Take into consideration how long you plan to be there - your kids will have to share a bedroom during all of that time because you're looking at a two-bedroom. That can be okay indefinitely, or until teen years if you have a boy and a girl, or if you have two kids who absolutely are so different that they will make everyone in the household miserable because of their fights over their close quarters.



Have you driven through the place? I think I looked at a condo in that area and was struck by the limited parking - when I tried to park to go to an open house I had to park several blocks away.



Is there any green space, playgrounds, basketball courts, etc... within very easy walking distance? Do the kids have a place to get outside and play without an adult having to drop everything for a couple of hours because they have to be there to watch them, or walk them back and forth? Looks like the pool is not too far away.



And what about the location and the quality of the elementary, middle and high schools? Do you want to have to drive kids to school every morning and pick them up every afternoon until high school?
 
[quote author="SoCal78" date=1238278709]You said you have kids (plural) and this is only a 2 bdrm. Don't you think that would be sort of cramped for a long-term living situation? Twelve hundred sq ft is not a lot of space... and the kids -- they only get bigger. You wouldn't have much privacy, that's for sure. Don't get bedazzled by its cuteness. It's not worth anything close to that sticker price. If all you want is a 2 bdrm, you might as well stay in an apartment with $0 in HOA dues, the same upgrades, the same great schools, and also 30 years newer. Good luck.</blockquote>


thanks for the click link.



thanks for the feedback. I have been looking for a 3 bed unit, the 3rd bedroom would be a great plus.



I think the "cuteness" has me hooked on this one. Every corner you look into, there is a nice feature / upgrade. I would estimate the upgrades at around $70-80k total. Thus I am having a hard time if this justifies that the unit itself is worth about $400k, plus the 70-80k in upgrades



Thanks
 
[quote author="nefron" date=1238279060]As a parent of three kids under the age of 15, I look at everything from the perspective of how the house and the location will make your life easier. So, while this advice doesn't have anything to do with upgrades or the prestigousness of the address, you should think about the following:



Take into consideration how long you plan to be there - your kids will have to share a bedroom during all of that time because you're looking at a two-bedroom. That can be okay indefinitely, or until teen years if you have a boy and a girl, or if you have two kids who absolutely are so different that they will make everyone in the household miserable because of their fights over their close quarters.



Have you driven through the place? I think I looked at a condo in that area and was struck by the limited parking - when I tried to park to go to an open house I had to park several blocks away.



Is there any green space, playgrounds, basketball courts, etc... within very easy walking distance? Do the kids have a place to get outside and play without an adult having to drop everything for a couple of hours because they have to be there to watch them, or walk them back and forth? Looks like the pool is not too far away.



And what about the location and the quality of the elementary, middle and high schools? Do you want to have to drive kids to school every morning and pick them up every afternoon until high school?</blockquote>


Thanks,



I plan on being there for a few years, especially since work and school are nearby. The HOA may drive me away earlier LOL

The condo layout is 2 car garage in each unit, plus a few spaces in the middle area (like in a small park)



The pluses are that there is a greenbelt access thru the patio. The park is within walking distance, about 1 block.

Schools are on my way to work. Creekside / Lakeside / Woodbridge



Thank you.
 
While there are alot of wonderful upgrades, they are not adding to the complete value of the house. I think it is overpriced by 75-100k. Don't get me wrong, I REALLY like that place alot also. But I think the price is not justified. I could get a similar house and recreate the same thing for MUCH less.



THEN there is the HOA, that never ends, and in fact goes up from time to time and or you get assessed special fees. So you never really get away from it.



Anyways i'd probably search for something more in line with your needs and your cost. I can always modify something to make it what I want... that's the easy part.



-bix
 
Yes, House really very nicely upgraded, but i will suggest to go for 3BR, u can always upgrade ur home the way you like, but you cannot add 3rd bedroom
 
[quote author="biscuitninja" date=1238291889]While there are alot of wonderful upgrades, they are not adding to the complete value of the house. I think it is overpriced by 75-100k. Don't get me wrong, I REALLY like that place alot also. But I think the price is not justified. I could get a similar house and recreate the same thing for MUCH less.



THEN there is the HOA, that never ends, and in fact goes up from time to time and or you get assessed special fees. So you never really get away from it.



Anyways i'd probably search for something more in line with your needs and your cost. I can always modify something to make it what I want... that's the easy part.



-bix</blockquote>


Yeah, it is hard not to like that place. So you also think it is way overpriced?



But if I am looking at strictly Woodbridge , the HOA is in the picture. Unless I find a SFR, where HOA is lower. Is that correct?



Thanks for your comments.
 
[quote author="irvine2010" date=1238292188]Yes, House really very nicely upgraded, but i will suggest to go for 3BR, u can always upgrade ur home the way you like, but you cannot add 3rd bedroom</blockquote>


True that. I am wondering if I can / or how long I can stay on a 2 bed. Like the prior posts commented, it may get crowded soon? My kids actually share the main bedromm with me :) We are very close :)



3 bed would be ideal, so it can be office / play area / or guest. Well maybe the search goes on then...

Hard to shake this one off though. The thing I like the most about this place is the location, close to the greenbelt. Coupled with the upgrades, made it almost a check on all the items in my checklist, except the 3 bed. I was thinking I got most of items in the "want" list...



Thanks for your post.
 
Is it required to disclose that this property is in a possible tce plume path?



Based on a map ive seen this area sits atop an inferred/projected area.



I am not sure if they are required to disclose this or whether it matters, but you said you have kids, so at the very least, you should know it exists.
 
[quote author="justrollinginIRV" date=1238292524][quote author="biscuitninja" date=1238291889]While there are alot of wonderful upgrades, they are not adding to the complete value of the house. I think it is overpriced by 75-100k. Don't get me wrong, I REALLY like that place alot also. But I think the price is not justified. I could get a similar house and recreate the same thing for MUCH less.



THEN there is the HOA, that never ends, and in fact goes up from time to time and or you get assessed special fees. So you never really get away from it.



Anyways i'd probably search for something more in line with your needs and your cost. I can always modify something to make it what I want... that's the easy part.



-bix</blockquote>


Yeah, it is hard not to like that place. So you also think it is way overpriced?



But if I am looking at strictly Woodbridge , the HOA is in the picture. Unless I find a SFR, where HOA is lower. Is that correct?



Thanks for your comments.</blockquote>


I think you might e able to find a SFR for around 500k right now, if not soon (3 and 3). But if you want location, then I say search around. I want to live in a certain area also, prices have come down... but they've come from WTF prices to simply 400sqf overpriced (still crazy prices in Irvine).

I think I may just try to find a nice place in either Laguna or Newport, but we will see.....

-bix
 
I am not seeing 70K worth of upgrades. Sure the custom doors are nice, but 70K? No way. Also, most of the upgrades (custom doors, granite counters) are fashion/trend oriented, which means when you sell they won't be worth much, any more than wood paneling and conversation pits are today. I'm seeing a very overpriced place for the current market.



In terms of comps, the fact that nothing has sold in the area for months does give you something of a handle. Find the cheapest places listed in the area. They are substantially overpriced - figure 10% at least - or something would have sold. This gives you a ceiling on fair prices, and I'll bet your place flies well above it.
 
[quote author="LoudRoar" date=1238301689]Is it required to disclose that this property is in a possible tce plume path?



Based on a map ive seen this area sits atop an inferred/projected area.



I am not sure if they are required to disclose this or whether it matters, but you said you have kids, so at the very least, you should know it exists.</blockquote>


Interesting, can you elaborate on this, while I google it?



Thanks!
 
[quote author="biscuitninja" date=1238303625][quote author="justrollinginIRV" date=1238292524][quote author="biscuitninja" date=1238291889]While there are alot of wonderful upgrades, they are not adding to the complete value of the house. I think it is overpriced by 75-100k. Don't get me wrong, I REALLY like that place alot also. But I think the price is not justified. I could get a similar house and recreate the same thing for MUCH less.



THEN there is the HOA, that never ends, and in fact goes up from time to time and or you get assessed special fees. So you never really get away from it.



Anyways i'd probably search for something more in line with your needs and your cost. I can always modify something to make it what I want... that's the easy part.



-bix</blockquote>


Yeah, it is hard not to like that place. So you also think it is way overpriced?



But if I am looking at strictly Woodbridge , the HOA is in the picture. Unless I find a SFR, where HOA is lower. Is that correct?



Thanks for your comments.</blockquote>


I think you might e able to find a SFR for around 500k right now, if not soon (3 and 3). But if you want location, then I say search around. I want to live in a certain area also, prices have come down... but they've come from WTF prices to simply 400sqf overpriced (still crazy prices in Irvine).

I think I may just try to find a nice place in either Laguna or Newport, but we will see.....

-bix</blockquote>


Yep, we hope soon we all can find the SFR 3/3 location etc for a reasonable $ /sq ft.



I have seen very decent prices in the neighborhoods near Irvine...



Thanks!
 
[quote author="justrollinginIRV" date=1238321115][quote author="LoudRoar" date=1238301689]Is it required to disclose that this property is in a possible tce plume path?



Based on a map ive seen this area sits atop an inferred/projected area.



I am not sure if they are required to disclose this or whether it matters, but you said you have kids, so at the very least, you should know it exists.</blockquote>


Interesting, can you elaborate on this, while I google it?



Thanks!</blockquote>


I'm not LoudRoar... but if you type "Desalter Project" (without the quotes) into our search bar in the upper right-hand corner, it will take you to threads like <a href="http://www.irvinehousingblog.com/forums/viewthread/1089/">this one.</a> Hope this helps.
 
This property is overpriced. 2+ common walls? Am I also reading this correctly that it only has 1 bathroom? For you and kids? This is not a good fit for you at all. Not even if it were $400,000 even.
 
We rented the same model condo on a different street for about 5 years a while back. The one in the listing is nicely upgraded. Our rental looked nothing like it. It wasn't upgraded at all. We stayed there when we only had 1 kid and it was a decent size for us at the time.



A few things about the model:

-Ours didn't have ac and it would get really hot. The limited window design prevented any kind of breeze through the home.

-The walls are thin so you will get to know your neighbor. The master bedroom is right up to where our neighbor put their TV and we could hear it clearly. Every..Damn..Night.. It once drove me so mad that I plugged in my 200 pound stage bass guitar amp at 1:00AM to give them a little hint that they should turn down their damn TV.

-As with any 30 year old home in Irvine, it has termite and roof rat issues. Our garage leaked when it rained.

-A large percentage of these are rental units.

-The bedrooms are huge and the great room is awesome. For all the annoyances, I loved the design of the home. It was very livable for 3 people. We moved when we had a 2nd kid on the way.



And of course the inner loop location is nice. With parks everywhere to walk to, you don't miss not having a yard.
 
[quote author="SoCal78" date=1238277732]<a href="http://www.redfin.com/CA/Irvine/13-Park-Vis-92604/unit-31/home/5469414">13 Park Vis 92604</a> > Clickified



Welcome to the boards.</blockquote>


The property is nice upgraded, although I don't see $70-80K of additions. I put the cost of sprucing up that sized unit similar at $40-50K tops, most of it in the kitchen. That assumes gutting and replacing all cabinets. You could reface and re-do doors and door hardware on that sized kitchen for maybe $5-6K I'd think.



I think it's fairly priced in this market. Considering upgrades, I'd put it at an adjusted CS index of around 190 at list, which is right around current market pricing. I think units such as this should definitely see the $300K range at bottom.
 
[quote author="MojoJD" date=1238476647]This property is overpriced. 2+ common walls? Am I also reading this correctly that it only has 1 bathroom? For you and kids? This is not a good fit for you at all. Not even if it were $400,000 even.</blockquote>


It has 2 common walls, unfortunately the common walls are where the bedrooms are. 2 bathrooms.



Yep, I scratched this one off and keep looking.

Thanks,
 
You must log in or register to reply here.
Back
Top