Sweet Orange

1082 Visalia Drive

The next two post will allow us to do a little compare and contrast between similar Irvine and Costa Mesa detached homes. First, a single-family home at 1082 Visalia in Costa Mesa’s South Coast Metro area.

This four-bedroom and three-bath home with 2,392 square feet is in walking distance to South Coast Plaza. It also has bonus room with an office area and workout room. Outside on the 6,555 square foot lot is a tool shed, pool, spa, and pool house. No HOA fee or Mellos tax is listed. The asking price was reduced earlier this month to $699,000 or $292 per square foot. The previous asking price was $719,900 or $301 per square foot.

To see how realistic this asking price is, let’s compare to some nearby single-family homes that sold recently and  also have 4 bedrooms/3 baths:

• 3488 Queens Court sold on July 14, 2009  for $695,000 ($268/SF)
  This home is 0.39 miles away from the Visalia home and has 2,594 square feet. The HOA fee is $130. No Mellos Roos tax is listed.
• 1106 San Jose sold on July 27, 2009for $601,000 ($266/SF)
  This home is 0.32  miles away from the Visalia home and has 2,262 square feet. The HOA fee is $130. No Mellos Roos tax is listed.
• 1074 Redding Avenue sold on September 4, 2009 for $630,000  ($263/SF). This home is 0.06  miles away from the Visalia home and has 2,391 square feet. No HOA fee or Mellos Roos tax is listed. This home is real estate owned.

Since this asking price for this home is $292 per square foot and the nearby similar homes sold for $263, $266 and $268 per square foot, the asking price might be unrealistic. We’ll see.

Note: According to Redfin, the December median price per square that a detached home in Costa Mesa sold for was $329 per square foot.

Up next: single-family homes in Irvine’s Northwood