Thursday, February 16, 2017

Portola Hills Home Buyers Love our Property Search App

I meet so many people when I am holding open a home that come in from just driving around looking for signs of what homes are available. They may have seen online that a home was scheduled to be open but generally print out the details and walk in with a stack of paper and kinda lost at what home they are looking for or they have no information on the home they popped into.

We understand that you as a home buyer want to do some research on your own and I encourage my clients to make sure if they are interested in a specific neighborhood to drive it...  I then send them a link for our custom property search mobile app.  

Take a look... at our how to video on how to use the Property Search App.

If you are interested in the App, reach out to us and we will send you the link directly.  As well, we will send you a our Home Buyer eGuide.  It  is filled with useful information to help with maneuver through the home buying process.

Wednesday, February 1, 2017

Portola Hills Jan 2017 Real Estate Market Review - What pricing went down?

Happy February 1st..  Yes we are officially in the 2nd month of 2017.  The month of love... will love shine on the Portola Hills Real Estate Market in February? We will have to wait and see but currently with the low inventory overall and the high buyer traffic at our open houses I don't see why it wouldn't.  

Let's take a look at how the market performed in the first month of 2017:

portola hillls jan 2017 real estate sales report by realtor kelly turbeville
Jan 2017 Portola Hills Real Estate Sales Report

Looking at the numbers, do you see that negative 5%.. yes me too and I probably had the same reaction you are having here.  Wait how can the value go down when all I am hearing is pricing is up?  OK maybe it is the mix of homes.. nope that doesn't work in this scenario as the mix of homes was almost identical, 4 condo's and 1 single family attached home closed.  In 2016 exactly the same but the 8 homes sold.   

In 2016 the median price of home was $457k and as you can see above, this last month it was $435k.  So why.. it's hard to say as we are just looking at numbers and we don't know the sellers motivation, and if these homes were impacted by the seasonal quietness of the holidays and election or where they just priced too low? 

Again hard to quantify; the good news here is a couple of buyers got great deals on their new home. With the continued low inventory, I would anticipate seeing a value jump this next month. Pricing isn't everything, timing and the sellers motivation is most important. This is one reason why we suggest if you are thinking of selling your home that you meet with more than one agent for a detailed market review. Ask questions about what is happening in your neighborhood but what is also happening in the surrounding neighborhood.  How does their marketing program, target your buyers and have them share examples with you of the last marketing program they ran, as well how they calculated a suggested price.

What's your Portola Hills Home Value - Find Out in Minutes

Of course if we can help we are always available to meet with you and review our marketing strategy.. We are a little geeky when it comes to numbers, we like them but we are also pretty creative when it comes to marketing..  Funny, maybe we should change our tag line to the Geeky, Creative Realtor near you!

Happy February

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Sunday, January 29, 2017

How did the Orange County Real Estate Market Do in 2016.. Take A peak

The sun has set on 2016 and as we look to 2017, you might be wondering how did the Orange County, California Real Estate Market perform overall?   Throughout the year we heard in the media, prices were up, it's a sellers market, buyer demand is strong and the good news continued.. But what did all that really mean when you look at the numbers?  Below is a review from the Orange County Association of Realtors  at how all the numbers shook out in 2016. We will split this out into two segments:  Detached homes and Attached homes:
 Single Family Detached home sales 2016
 We highlighted some key points, but let's further explain.
  • Median Sales Price in Orange County, California for a Single Family Detached Home was $740k and that was up 5% from 2015. The Average price was near a $1m. Leaving a real need for Single Family homes priced below that median of $740k.  Opportunity is knocking for homeowners in this price range.
  • Sales Volume in 2016 was almost identical from 2015 with a slight increase of 278 homes.  
  • Days on the market: The average days on the market to sell a single family detached residence was 66 in 2016.
  • Year end Inventory was down 6% from 2015 and the lowest since 2013 with only 3738 homes available.
Orange County 2016 Attached home sales
Looking at attached homes i.e. Condo/Townhomes, below are the highlights:
  • Median price of a Attached home in Orange County in 2016 was just about $442k and was up 6.4% from 2016.  The Average price was approximately $510k.   
  • Sales Volume rose in 2016 from 2015 by 3.3%.  
  • Average days it took to sell an attached home in 2016 was 60 days.
  • Year End Inventory was just 1843 homes at the end of 2016, which was down 12% from 2015. 2017 started of with less then 2 months of available homes..  Opportunity is knocking and knocking for homeowners of condos and townhomes.
So what does this mean for 2017.   I am not an economist but looking at the low inventory, high demand, I see a real need and opportunity for homeowners and buyers in the $400,000-700,000 range.   Of course, demand is strong in all areas, but the demand for homes priced under the median opens a lot doors in the market for move up sellers/buyers. Leaving open space for first time buyers to come into the market which has been down in recent years.

We will see how the year progresses but in my little neck of the woods in Orange County, we currently have listed 1 townhome and during open house this weekend we had over 35 people come through.

If you are considering a move in 2017, now is a great time to take advantage of the low inventory.   The holidays are over, the election is behind us, interest rates are still historically low and though the OC is seeing more rain then we have in years (that's a good thing) home sales don't stop due to the weather. Buyer demand is very strong and 2017 looks to be a productive year.  Of course if we can help you Buy, Sell, Invest or answer any of your real estate questions, we are just a phone call away!

Wondering what your home value is right now? Click below to get our
FREE Report!

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Information reposted from our blog:  Kelly Turbeville Real Estate Possibilities in South Orange 

Monday, January 9, 2017

Portola Hills January Sunset..

The rain we are receiving is certainly providing some amazing sunset's as the incoming storms approach.  It is wonderful that Portola Hills sits above the valley of Orange County..  Take a peak at these beautiful and yet some what ominous sky as the rain approached yesterday.

Portola Hills Sunset January 8 2017

January 8 2017 Portola Hills View

Portola Hills Sunset View January 2017

Portola Hills Ocean View January 2017

Residents of Portola Hills are truly lucky to have some of the best views in Orange County.

Monday, January 2, 2017

Portola Hills 2016 Home Values and Real Estate Recap

Happy New Year Portola Hills Peeps.  Can you believe it 2017 is here!  As I always do, I like to take an in-depth look at how the Portola Hills real estate market performed for the entire year.   This review will include an overall look, as well break down the market into various property types to help you determine your Portola Hills home value.

The biggest news of the year was sales volume.. do you think it was up or down in 2016?  Surprisingly it was down from 2015 levels.  81 homes sold in Portola Hills in 2016, while 107 sold in 2015.   I will say 2015 sales volume was up significantly from recent years.

Below is a look at the overall real estate market in Portola Hills in 2016.

2016 portola hills home values
Portola Hills 2016 Real Estate Market Snapshot
Keep in mind when you look at the above.. this is overall, this is looking at all homes that sold and averaging them out.   

Below is a break down by property type and we will start with the Portola Hills Condo Market.

Portola Hills condo home values 2016
Portola Hills 2016 Condo/Townhome Closed Sales

Portola Hills 2015 Condo/Townhome Closes Sales
The condo/townhome market in Portola Hills had an average value increase of 20% in 2016.  The highest priced condo that sold in 2016 was Montecido Plan C that sold for $539k. 

Next we will look at the Single Family Attached home market in Portola Hills as the community has a variety of paired homes available.

Portola hills single famly attached home values 2016
Portola Hills 2016 Single Family Attached Home Sales
Portola Hills 2015 Single Family Attached Home Sales

Home values for the single family attached market in Portola Hills increased 7% from 2015, with the Average home selling for $596k.  The record selling price for this category was a Serenado Plan C that sold for $710k and had amazing views of the Saddleback Mountains.

The final category of homes we will look at is the Single Family home market in Portola Hills.

Portola Hills 2016 Single Family Sold Homes
Portola Hills 2015 Single Family Sold Homes
The average price of a standard single family home increased 4% in Portola Hills. Though it is important to note the mix here. The average price per square foot of a single family residence increased 11%.  The highest priced home that sold in Portola Hills in 2016 was a Crown Pointe  model and sold for $1,050,00

Residence should be very happy with the home value increases in 2016.    Homes priced right, well presented and available, consistently out priced our surrounding neighbors.  However, 10% of the homes listed did not sell. With low inventory, one of the other aspects, price, condition, presentation must not have been in place for these homes not to sell in 2016.  Buyers have so much data at their hands these three aspects must be on point to get to get a home sold in today's market.  Really the only issue in 2016 was the lack of inventory available in the community.

Search Available Portola Hills Homes

This report provides a broad overview of the community of Portola Hills.  If you are wondering the value of your home, make sure to request our FREE Home Value Report, order here and it will be sent to you within minutes.

As well, we created two special e-guides, as we believe 2017 is going to be an excellent year in the Portola Hills market.   Demand is high in South Orange County in general and inventory continues to be an issue.  So if you are thinking of a move, makes sure to get or FREE Home Sellers eGuide or our FREE Home Buyers eGuide, they are packed with useful information to help you take the next steps in homeownership.

We hope 2017 is a wonderful year for our clients, neighbors and friends in Portola Hills.  Of course, if we can help you with your real estate needs, please do not hesitate to contact us. Happy New Year!!

Happy New Year Portola Hills from Realtor Kelly Turbeville

Friday, December 23, 2016

Merry Christmas from Portola Hills Living..

Just a quick note to wish the residents of Portola Hills and throughout the Saddleback Valley, holiday greetings.  We hope your home is filled with love and laughter with those closest to you..

Holiday greetings from Realtor Kelly Turbeville

We believe a Home is a beautiful thing, especially at Christmas and are appreciative to all who we have helped with their real estate needs..

Thursday, December 1, 2016

November Home Values for Portola Hills

We have arrived at the last month of 2016! Can you believe it, man that was a fast year.  Fast is the perfect segway of how the real estate market in Portola Hills performed in November. The average days on the market for homes sold in November was just 29 days.

Who would buy a house in November or this time year with all the holiday stuff going on? This is often what we hear, but as we are in South Orange County and not hampered by the snow, etc.  November is traditionally a fairly busy month in the OC for real estate.   For the county, 2419 homes sold in November that is up about 20% from 2015.

For Portola Hills the number of sales was up by one property but take a look at the price increases from 2015 below.

What sold in Portola Hills by realtor Kelly Turbeville
Portola Hills November 2016 Real Estate Snapshot

The average price of a single family home in November 2015 $693,000 but that was for a 2284 4 bedroom home. The price per square foot was $310.  Now looking at 2016, the average home price was $624,000, but that was for a 1210 square foot home at the price per square foot of $412.

On the condo/townhome side in 2015 the average price for a 2 bedroom 1100 foot condo was $380,000 in 2016 for the same size home the average sales price is $442,000.  

Wondering the value of your Portola Hills home - Find out Instantly

I always emphasize mix is always important to look it.  But what the numbers have indicated all year for Portola Hills is the area is in demand.  Inventory overall remains low and is anticipated to remain low through the end of winter. Home sellers have a unique opportunity, especially before the new homes hit the market in Portola Center, to receive top dollar for their home.  Of course, pricing your home at fair market value, making it presentable, marketing it and ensure it is available to show are all crucial steps in the mix.

Search Available Portola Hills homes

If you are thinking of a move, please don't hesitate to contact Realtor Kelly Turbeville to review the current market.

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