Lake forest (Irvine, Orange, Tustin: HOA fees, condo, crime rates)

[keith edward]

is lake forest a nice community? can anyone tell me about it? thanks

[Joe Van Fossen]

Lake Forest is a nice city in South Orange County with great schools and relatively recently revitalized shopping centers. It encompasses a pretty wide area that includes Foothill Ranch and Portola Hills. Aside from demographics, median incomes and crime rates (low) which can be seen here, is there anything specifically you'd like to know?

[Tigerlily64]

I live on Lake 1 in Lake Forest, we moved here from Texas last year (April) although originally we are from the UK. We have found the area to be very welcoming and friendly, we have great neighbors and we are regulars at the Beach & Tennis Club which is the HOA club for Lake 1. The Sun & Sail Club is the HOA club for Lake 2. As Joe said, is there something specific you want to know?

[meejh]

hello
I too am interested in moving there and possibly buying a home, budget very limited at under $600. I am confused on the Lakes. I see 3 lakes from the maps. One looks like a shoe on its side, another below like a "C", then one big one above looks like a key hole.

I think the shoe is hidden lake and is beach and tennis club? The key hole is sun & sail club? What about the "C"? I heard key hole is more expensive in general, why? Is it worth the extra dollars?

Sorry I am from overseas so don't know about the area. I just visited the area for 2 weeks early July. I am deciding between Irvine or LF. Irvine really expensive and no lake view, no view at all for that matter. I have 2 young kids in Kindergarten now.

Any advice???
Thanks

[Tigerlily64]

The lake that is U shaped is Lake 1 and the Tennis and Beach Club is the club for residents of that area. The tiny lake to one side of this lake also feeds into the Tennis and Beach club. The bigger lake with the keys is Lake 2 and feeds into the Sun and Sail Club. At Lake 1 is a Montessori kindergarten right on the lake, I don't know what is available on the other lake nor do I know much about the costs or facilities on the bigger lake. The Tennis and Beach club is currently undergoing some work to the lagoon and dock area which will make the place very nice I think as they are renovating the lagoon and making it into a freeform, walk-in type resort family pool as well as providing the boats an upgraded docking area.

[Joe Van Fossen]

There isn't really much available in your price range near the lakes. There's one home in the Sun and Sail Club area for $609K, but it's not on the lake and doesn't have a lake view. I don't see much of a difference in price-per-square foot between any of the lakes--based on homes actually on the lake. The "C" lake area seems to have the lower HOA dues (about $208/mo, compared to $240/mo at the other two).

You can get more for your money in most areas of Lake Forest, but Irvine has good options if you don't mind living in a condo community. Some parts of Irvine do have lake views, but not for under $600K.

[meejh]

Thank you so much for the replies. Very helpful.

My friend has lake front home and when I was there, felt really nice and relaxed, loved it. So I hope to either stay close to her, or Irvine Woodbridge (likely workplace). I also loved Spectrum and breakfasts at Snooty's so Lake Forest seems good value for money.

I know I must raise my budget if I want to live by the lake, or get a real bad fixer if they go on market, but unknown how much more I'll need to pour in. Or a nice townhouse in Irvine but the ones I looked at took me out North near Tustin edge and that's quite far. In the long run, I think ppties by the lake would fare better than Irvine townhouses? as they seem to be building an endless array of them...

[Joe Van Fossen]

You'll need between $800-900K to get on the lake in Lake Forest (detached single family) and about $750-800K in Irvine on the lake (attached townhome). In LF there are homes very close to the lake for between $600-660K. Close enough to walk, but far enough that you're paying less than $100 in HOA fees. You may be right about the lakeside properties in the long run. Another thing to keep in mind, especially with newer condo communities, are the HOAs and mello roos.

[Vary]

Some of those neighborhoods that aren't on the lake by nearby also have access to the lakes and their amenities as part of their association--I saw a couple of houses earlier this year like that when I was house hunting. Be sure to check with each home you consider, because it's not a guarantee, but you might get the benefits of the lake while enjoying a slight price break in not being right on the lake's edge.

[Tigerlily64]

But it's worth living right on the lake to have these sort of views everyday :-)