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Sunday, February 26, 2012

More Houses for Foothill Ranch, Portola Hills and East Lake Forest

So have you heard.... the City of Lake Forest is considering 3 new housing developments in Foothill Ranch. These are in addition to the already 4100 homes approved by the city that include Portola Center in Portola Hills and the Baker/Shea development off of Bake/Alton.

Below are the details of the planned new developments:

  • 700 Apartments to be located on the former El Toro Sand/Gravel Mining Company near the 241 and Rancho/Portola Parkway.
  • 151 Condominiums located and 75 single-family "motor-court" located at the auto dealership off of Portola Parkway.

As noted above, these new developments are in addition to the 930 homes scheduled to be built in Portola Hills and the 2379 homes scheduled to be built off of Bake/Alton.

Being in real estate, new developments are generally good for property values and I know the small businesses located in the area could use more foot traffic.  However, being a resident of the this area, I must say the amount of traffic does concern me.

At a recent association meeting the City of Lake Forest traffic engineers noted that the traffic at the intersection of Bake and Portola is rated as an F, yes F as in Fail.  With the opening of Alton Parkway, the they noted the traffic will only be improved to a E level. (Umm, if I go back to my school days, I guess an E is really a F+)

With the addition of the proposed new developments, this would add approximately 9200 more cars on the roadways. This is where the concern lies.  Driving down Portola/Rancho Santa Margarita is already pretty tight between Marguerite and Alton, adding approximately 10 more driving trips per day is scary and if the city knows the traffic can not be improved, why make it worse?

Though many of these developments have already been approved, if you have concerns you can voice them along with your questions at the Lake Forest Council Meetings or simply go to Ask Lake Forest and send a quick note.

Monday, February 6, 2012

Portola Hills January 2011 Real Estate Recap!

Wondering how the first month of 2012 ended for the Portola Hills Real Estate Market, here you go!  One of the biggest indicators for my personal business was the fact that my phone was consistently ringing.  Customers are looking for rentals, first time buyers getting into the market and moving up buyers looking to move to the area and the buying season hasn't taken a hold yet.  Good sign?..... hope so!

Portola Hills Jan.2011 Real Estate Recap:

Sold Properties - 4


Attached/Condo's             2

  • Description:                        2-Bedroom/2-Bath, 
  • Average Sq.Footage:         1126
  • Sold Price:                         $227,000 - $202 price per sq.ft.
  • List to Sale Price Ratio:      99%
  • Days on the Market:           70
  • Distressed Factor:              50%

  • Single Family Residences   2
  • Description:                        5-Bedroom/3-Bath, 
  • Average Sq.Footage:         3450
  • Sold Price:                         $830k - $240 price per sq.ft.
  • List to Sale Price Ratio:      92%
  • Days on the Market:           28
  • Distressed Factor:              0%



Leases: - No closed leases in January

So what do these numbers indicate......? Though only two single family residences closed escrow in July the fact that they closed and at over $800,000 is good news.  Lending at the higher value has still been restricted, but we are starting to see this open up.

On the Condo side, there is a major issue plaguing Condo buyers and that is the fact that less than 20% of the condo's on the market are FHA approved and this is the financing most buyers will be using to purchase.  Luckily 2 of the complexes in Portola Hills are approved for FHA Financing and those complexes are Monticedo and Canyon Rim.  If you are a condo owner and thinking of selling ask your HOA if they are working on the process of being re-approved?  We can help!

Thinking a Short Sale may be the way to go ---- Please keep in mind, right know the Mortgage Forgiveness Debt Relief Act of 2007 is scheduled to expire at the end of this year.  Though the length of time to close short sales is approving, this is something you should be considering in your planning.

Should you have any questions or looking for a more detailed market review please do not hesitate to contact us.

PS...Did you watch the Super Bowl....what did you think of the Century 21 commercial?  I loved it!


Tuesday, January 17, 2012

Why I love working with First Time Home Buyers

I was just watching this video and I liked it because it gives First Time Home Buyers an idea of the excitement when buying a home.  Now of course that comes with some trepidation... but with the right research, planning, education and of course Team, it is a wonderful life event.


http://bcove.me/b2nlykq0

The video is from the California Association, should you have any questions please do not hesitate to give Kelly a call.

Tuesday, January 10, 2012

26 Sandpiper, Aliso Viejo Just Listed - Hurry Won't Last

We just listed a great condo in Aliso Viejo that would make a great investment for my Portola Hills Investors, First Time Buyers and for parents looking to help get their children started in a home.  Priced at just $185,000 this 2 bedroom, 2 bath condo is located in the complex of Seagate Colony in Aliso Viejo.  No work needed it is light, bright and clean!








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Portola Hills 2011 Year End Market Recap

Wondering how real estate ended in 2011..... Here is a quick snapshot per square footage of how each housing segment ended the year.  We heard many times through the year that hottest market in Orange County was Portola Hills.  This is a direct result of supply and demand.   No supply, high demand and with just 54 listing sold in Portola Hills in 2011 that was evident.  In 2010 96 homes sold.

Wondering how this relates to your home, give us a call and we would be happy to run the numbers for you.
One thing is for certain.  Opportunity is knocking!!


Saturday, December 10, 2011

Lake Forest, Holiday Happenings

Looking for a little holiday fun??  This evening in Lake Forest is the 26th Annual Candlelight Tour.  Cost is just $4.00.  Located at Heritage Hill Park.   Dec. 10th and 11th between 5:30-8:30.

Grab the sweaters, hot chocolate and take a lovely stroll through the park to see the lights, visit with Santa and listen to the Carolers.

Enjoy!

Saturday, December 3, 2011

Holiday Happenings In the Saddleback Valley

Trying to get into the holiday spirit?  Below is a list of events you might want to check out.

Lake Forest



  • Dec 3rd:            Annual Victorian Christmas - Heritage Hill Historic Park
  • Dec 10th:          Breakfast with Santa. Lake Forest Community Center.
  • Dec 10th-11th:  Annual Candlelight Tour: Heritage Hill Historic Park 

Mission Viejo

  • Dec 3rd:            Nutcracker Puppet Show - Saddleback Room Mission Viejo City Hall
  • Dec 9th:            Holiday Light Tour - Norman P Murray Center



Rancho Santa Margarita

  • Dec 31st:          New Years Eve Celebration 

Silverado Canyon



  • Dec 10th:          Christmas in the Canyon



Click on the city for specific details!

Portola Hills Residents, let's have some fun with Christmas Lights - Post your pictures here and you may just win a prize!!