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Here’s what $1 million will buy you in Irvine

November 20th, 2009, 5:00 am · 17 Comments · posted by Erika Chavez, Staff Writer

"One meeeelllion dollars!"

"One MEEEELLLION dollars!"

When I was a kid, $1 million seemed like a mythically large number. Enough to make you a very rich person… enough to buy whatever you wanted. Enough to afford the fancy mansion of my dreams when I played MASH with my friends.

Next thing I know I’m a grown-up, and $1 million is suddenly an Austin Powers punchline. I mean, me and my husband just purchased a home that cost more than 1/2 a million dollars, and I know we’re not even halfway to rich.

So that got me to thinking… what exactly will $1 million buy you in Irvine these days? I looked up home sales that have closed at or near $1 million since the beginning of October. Here’s a sampling…

CLICK ON THE PHOTOS FOR A CLOSER LOOK!

5 Delano, Northpark– Sold for $1,005,000, $283/square foot

5 bedrooms, 3.5 baths, 3,550 square feet

Last sold: Aug. 2007, $1,070,000

5delano

*****

6 La Canada, Northpark– Sold for $1,045,000, $327/square foot

5 bedrooms, 3.5 baths, 3,200 square feet

Last sold: Aug. 2000, $587,000

6lacanada

*****

19411 Sierra Noche Road, Turtle Rock– Sold for $1,100,000, $342/square foot

5 bedrooms, 3 baths, 3,216 square feet

Last sold: July 2004, $1,100,000

19411sierranoche

*****

8 Dos Rios, Northpark Square– Sold for $1,100,000, $326/square foot

5 bedrooms, 2.75 baths, 3,374 square feet

Last sold: Oct. 2002, $682,000

8dosrios

*****

22 Rockwren, Woodbridge– Sold for $1,130,000, $323/square foot

5 bedrooms, 3.75 baths, 3,495 square feet

Last sold: June 1998, $775,000
22rockwren

*****

There you have it… a glimpse at what a cool million will get you in Irvine right now.

What do you think? Are these homes worth $1 million, in your opinion? What specs and amenities do you expect in a million dollar home? And how do you define “rich”?

Chat away!

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Posted in: Home prices • Most expensive listings • •
 
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 17 Comments

  • Richard says:
    November 20, 2009 at 11:05 am

    haha..BE SERIOUS

  • OC Douchebag says:
    November 20, 2009 at 11:30 am

    i define a million dollar home as a home where my neighbor cant hear me sneeze, or homes so close i can just roof to roof,
    this is stupid, the days of being house poor are over.
    buy a smaller home and live better, travel more, save more…not buy a million dollar home and have to take your kids out of private school because you cant afford it anymore.

  • Lori says:
    November 20, 2009 at 12:16 pm

    I thought you were going to say:

    BETH KROM or LARRY AGRAN!

    Sheesh, misleading headlines again…

  • Me says:
    November 20, 2009 at 12:18 pm

    I don’t think so! Hopefully people will pass on those prices.

  • lu farigno says:
    November 20, 2009 at 12:52 pm

    dont look like “million dollar homes” to me

  • sweetmama says:
    November 20, 2009 at 3:32 pm

    Well I have family that lives in Lake Perris and their homes were bigger than the above homes, and half of the amount they are priced for.

    • seriously says:
      November 20, 2009 at 4:47 pm

      And your point is?
      I noticed you said “…their homes were bigger…” did you use the term “were” because, like large portions of home owners in the IE they could not afford what they had and lost their home to foreclosure?

  • deedee says:
    November 20, 2009 at 3:42 pm

    That Rockwren house sold for a million??? Asians must have bought it. Someone got ripped off.

  • ocbear says:
    November 20, 2009 at 4:03 pm

    Those Irvine homes are ripoffs. In another state you can still buy a beautiful mansion with lots of land for a million. But over here, you really pay a premium to live near traffic congestion.

  • Wantabe says:
    November 20, 2009 at 4:06 pm

    I saw the Rockwren home I thought it was listed for $775k or 800K range, it was very nicely remodel home 10 years ago. But whoever bought did not shop very well… for a million bucks you gotta share 1 side of the your home as some else side yard. They only took bids that had pre-approved loan not pre-qualified lender letter. What a joke!

  • Cyndia28 says:
    November 21, 2009 at 8:25 am

    Who would want to live in Irvine anyways. I’ve never seen what the appeal is out there. It reminds me of Rancho Cucomunga.

    I grew up in La Habra Heights. In 1982 my parents purchased their home for $500k. It was 4 bdrm, 3&1/2 bath, 3500 sq ft and on an acre of land.

  • Fran Wells says:
    November 22, 2009 at 3:44 pm

    My mom was a Realtor and the most important thing in her day is still the most important thing today: location, location, location. It is great to be able to retire to a big house on a huge lot in the middle of nowhere. But if you need to work, there are no jobs in the middle of nowhere so you are going to have to commute. That is a huge chunk of your life to spend behind the wheel. Lots of people work in the Irvine area and are willing to pay a premium for a short commute. It comes down to what is important to you: a big home that you only get to enjoy on the weekends, or a smaller home close to work so you can spend more time with your family and friends. The home itself isn’t worth the price. It is the short commute and living close to where you work - that is what you are really paying for.

  • Bluewaterbabies says:
    November 22, 2009 at 6:04 pm

    Location, location, location! Frankly I love living in Cypress.! It is clean, safe, centrally located to all freeways, and the amenities are the same.
    I guess for some, having a million dollar residence matters. Not for me! I picked something I know will be paid off in my lifetime, before I retire, and a pleasing arrangement that will still be pleasing when I am old. I love the cool breeze that comes every afternoon, and I see the same sunrise and sunset. Who says I don’t have a million dollar location too?

  • Donnie says:
    December 6, 2009 at 9:14 pm

    Hey, Tiger Woods is from Cypress, CA. It must be a good place to live.

  • Carlos says:
    December 10, 2009 at 3:22 pm

    Location, location, location!…No Job. No Money. No Honey. No Home Sweet Home in California.

    There will be more joblosses and foreclosures from California in 2010.

    Report from Realty Track in December 2009

    Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default. This year’s filings will surpass 2008’s total of 3.2 million as record unemployment and price erosion batter the housing market. RealtyTrac said.

    We are a long way from a recovery. You can’t start to see improvement in the housing market until after unemployment peaks.

    A total of 306,627 properties received a default or auction notice or were seized by banks last month, or one in 417 U.S. households, and a similar number are expected for December, RealtyTrac.

    There have been 3.6 million filings from January through November, the most in RealtyTrac records dating to January 2005. Three loans went bad for every one that improved in the first 10 months of this year. The combined delinquency and foreclosure rate for all loans increased to 12.6 percent.

    Three California cities had the highest foreclosure rates among metropolitan areas. Merced led with Stockton was second and Modesto was third.

    Cape Coral-Fort Myers, Florida, was fourth.

    Riverside-San Bernardino and Bakersfield, both in California, ranked sixth and seventh;
    Orlando-Kissimmee, Florida, was eighth;
    Vallejo-Fairfield, California, ranked ninth;
    Sacramento, California came in 10th.