Saturday, January 18, 2020

Portola Hills Condo and Townhome Market Update

The Portola Hills community has a variety of condominium and townhome  communities, ranging in price from about $400,000 - $575,000, these include Montecido, Bell Palermo and Canyon View.  In addition, in 2019 two new communities came to the community in the Ironridge community, Copperleaf and SilverOak  that are priced from $600,000-$750,000. 

Looking at what sold in 2019, this segment of the market in Portola Hills was strong,  but looking at pricing it trailed what is happening in other cities in the valley.  Below is a comparison of what homes sold for in the Portola Hills, Foothill Ranch and Rancho Santa Margarita and overall values.

  • Community:         Style:                 Sq.Ft.         Price:           Days on the Market
  • Portola Hills        2Bed/2Bath          1063          $443,589              54
  • Foothill Ranch    2Bed/2.25Bath     1124           $471,352              51
  • RSM                   2Bed/2.35Bath     1192           $479,822              55
The most popular community in Portola Hill was the Montecido Community.  This is actually one of my favorite communities when I work with Buyers.  The floorplans are good, they all have attached garages and nice size yards. Plus it is rare to find, 3 bedrooms with 3 full baths in a Condo or Towhnhome.  The community is well maintained and has a low HOA dues and is FHA approved.

Montecido Homes Sales 2019

Looking at the Montecido complex, compared to overall condo/townhome pricing values are less.  Which makes me question why?  With the addition of the new attached homes in IronRidge to the community the buyer demand for Portola Hills is very strong.  In addition, for Orange County any home priced under $500,000 is hard to find, so they are hot, hot, hot! 




In order to get top dollar for your home, it must be presented professionally to buyers.   This is especially true with new homes right down the street.  Homes presented well, priced right and marketed to the right buyer should bring sellers multiple offers in today' s market.  They certainly shouldn't be getting less!

As you select your Agent to sell your home, make sure they share with you how they determined values.   Hyper local pricing is very important, but let's be honest if someone is looking at homes in Foothill they are most like open to homes in Portola Hills.  Pricing should be fairly consistent between the two communities, if the amenities are consistent. 

So as we like to say be careful who you list your home with! 

Search Portola Hills Available Townhomes and Condo's

If you are considering a move in 2020, don't hesitate to give Kelly a call. Understanding values is key to getting the most for your home and she will fight to ensure you receive top dollar! The GPS marketing system, looks at pricing, condition, amenities for the ENTIRE market, not just what sold last.  As your go to Real Estate Team for all your property needs, Kelly and the GPS real estate group bring innovative real estate tools to their clients, service at the highest professional levels and years of experience in the Orange County Real Estate Market. 


*we did not include an new homes in Iron Ridge in the above sales numbers as we were only looking at resale properties.  Data was taken from CRMLS is deemed reliable but not guaranteed.

Monday, January 6, 2020

Portola Hills 2019 Real Estate Recap

How does the saying go, "that's it folks"!  2019 is over, as is the last decade, or is it? We took a look at the real estate market in Portola Hills for the year and below you will find a quick recap of how the market performed.  Overall the market was very strong with record breaking pricing.  The highest priced home sold in The Oaks community at just over $1.8 million.

Below is a look at the overall market.
Portola Hills Real Estate Home Values

Pricing and sales volume were up overall. While this price will help drive pricing up in the community, we are now competing with communities such as Baker Ranch, Irvine and Coto. Resale homes have a bit of a harder task when competing against new builds.  As buyers like pretty new homes.  So when they are up on the hill and looking at both, your home needs to be priced right, presented well and marketing to the right buyer to capture those buyers.  Certainly IronRidge and The Oaks brings buyers up the hill, so homes on the market should be getting very good traffic.

The lowest priced home was priced at $305k, a condo in the Canyon View Community.  Considering in the OC, the price point of $500k and below is starting to disappear. If you are looking to buy your first home or invest in real estate and see townhomes priced well, I would grab them.  Especially with the low interest rates and high rents the county is seeing.

Looking forward to 2020:

2020 is starting off very strong for the real estate market. We currently have about 3700 homes on the market in all of the OC. We started 2019 with over 5700 homes. This will set up spring as a very HOT market. With the record low inventory, low interest rates and buyer demand, the forecast remains strong for 2020. Another good sign is Open House traffic, my last Open House had 17 groups of buyers come through... and it was Christmas week. So if you are considering a sale and looking to move up, NOW is the time to sell before price increases happen on your move up property. 

I don't like to be political, but a big change is on the forefront for 2020 with a initiative to change Prop 13. Please make sure to do your homework and watch what your signing and voting for.  This change starts with businesses and commercial, but as we know Prop 13 has been under attack for years.  So if you don't want your property taxes increased in the future, you'll want to vote no on the Schools and Community Funding Act.

Some fun for 2020:  

For those of you who like a little Vino, I host a Facebook Group Portola Hills Wine Group.  We were a little quiet in 2019, but if you like wine, make sure to join us and watch for some upcoming wine tastings!

As always, if you have any real estate questions, please do not hesitate to reach out to me. Even if you are not planning on selling. I am here to answer and assist you in anyway I can.  Of course, if you are thinking about selling or buying, don't hesitate to give me a call.

Monday, November 4, 2019

Fall Real Estate in Portola Hills

Who loves Fall? My favorite season here in Portola Hills, well maybe except for those lovely Santa Ana winds.  Fall to me feels like home. The day's are shorter, which actually makes me stop and relax, vs the summer and spring when it is go, go, go.  How about you!



The real estate market also tends to slow down this time year, though this year buyers are out in force due to the lower interest rates and low inventory. 




So how has Portola Hills fall market began this year, take a peek below.
Portola Hills Home Values by Realtor Kelly Turbeville

Looking at the numbers below we see a slight decrease in pricing from the same time last year, but I am not really concerned as the mix of homes sold in 2018 vs. this past month was much different.  The average size of home sold last year was 3100 square feet with 6 new homes selling vs. this year the average square footage was just over 2600 square feet and there were only 2 new homes sold.  The new homes in The Oaks and Ironridge are certainly impacting the area, but resales are still very strong. 

Portola Hills remains one of the top locations for new buyers as it is one of the few communities with new homes. Both the Oaks and Ironridge bring buyers up the hill.  But they also put pressure on how to price your home.  When buyers are looking at new homes, they aren't looking that those homes may have $150,000 or more in upgrades.  What they are looking at is how nice the homes is!  So when they venture up the hill a little more, they are still expecting those pretty amenities to continue.

Buyers are smart, they understand resales homes offer more value, but it is very hard for them to get those pretty shinny new homes out of their head. If they do, it all relates back to pricing. Carefully and methodically pricing a home is vital to resale homeowners if you are looking at cashing in on the strong OC real estate market we have today!

If you are thinking of a move but holding off till this spring, let's chat why the current state of the OC real estate market right now is key to getting you top dollar.  Low Inventory, Low Interest Rates and High Buyer Demand all strengthen the strong sellers market we have at our finger tips.  Don't hesitate to give me a call to review how the values in your Portola Hills neighborhood.



Friday, October 4, 2019

Are Portola Hills Homes Being Under Sold


Every month we take a look at the local market and compare it against what happened at the same time last year vs. this year.  We also take a look at what is happening in the surrounding area to see if the community is on trend with the rest of the area. 







In September Portola Hills had 15 homes sell, 11 Single Family Homes and 4 Townhomes/Condo's, which shows the sales volume is up slightly from 2018.  The difference being this past month, we had about 50/50 mix of new homes and resales, where as in 2018, 80% of the homes that closed escrow in September were all new homes.  

When comparing the two years, values is is going to be significantly different as the mix was so different between the two years.  Below is a snapshot of how the Portola Hills real estate market performed in September 2019!  

Portola Hills Home Values

As you can see the above values show there was about a 12% decline in values from September 2018.   But when looking at the overall year to date numbers Portola Hills is actually up nearly 5%.  

Portola Hills is certainly a sought after community!  With the new homes selling in The Oaks and IronRidge buyers traffic in the area is up.  This does add competition to resale home sellers, but homes priced right, presented well and available should be selling in comparable values of those in our surrounding neighborhoods. However, looking at pricing of homes on the market, it does tend to look like Portola Hills is being undervalued. 

As appraisals come in these homes priced low are setting the tone of pricing for the area. It's important who you pick as your realtor and how they are interrupting the local real estate market.

Don't hesitate to give me a call to review your homes value and how the overall area is performing.  








Monday, July 8, 2019

Welcome to GPS real estate group and Portola Hills Realtor Nancy Bishay

I am super excited to introduce our newest team member and neighbor to Portola Hills, Realtor Nancy Bishay.  Nancy is a former teacher who has moved to the area and will be working with our team at GPS real estate group at Keller Williams in our new Lake Forest office.

Portola Hills Top Real Estate Group GPS real estate group

If you are thinking of a move, you will now have a successful team behind your home sale.  We have been selling homes in the area since 2004 and is the only Real Estate blog dedicated to our clients.   Our strength in understanding what Portola Hills home sellers and buyers want is unsurpassed.  We are happy to further build this strength with Nancy's help!!

Contact Nancy direct at NancyBishay.kw.com

Monday, March 25, 2019

2018 Highest Priced Homes in Portola Hills

The Portola Hills community in Lake Forest has seen a huge change on the real estate landscape with the addition of several new home communities. The Oaks and Iron Ridge are in full sales, with The Oaks beginning to sale in late 2017 and the Iron Ridge early 2018.  

These new additions are selling well.  The Oaks would be considered luxury properties with the square footage ranging from 2600 square feet to over 5200.  Comprised of seven distinct neighborhoods, all within a private gated community featuring tree-lined streets and premium views, outdoor recreational spaces within our community including a Central Neighborhood Park and Swim Club, a large 5-acre public park with recreation and sports fields and three neighborhood parks. 

Iron Ridge, the newest community is comprised of six distinct neighborhoods, ranging from Townhomes to large Single Family, ranging in size from 1100 square feet to over 3800 square feet. Each residence offers superb craftsmanship and spacious elegance for today’s active lifestyles. Community amenities such include a Clubhouse, resort style pool and playgrounds.

This has brought a completely new dynamic to the Portola Hills real estate market.  It certainly has raised home values, but it also adds tremendous pressure on resales. Why, because now resales are competing with Brand New Pretty Homes!  

Take a peek at the top selling resales and new homes in Portola Hills. 

ten most expensive homes in portola hills by realtor kelly turbeville

ten most expensive new homes sold in portola hills


The most expensive home in Portola Hills was sold for over $1,7 million in 2018. That is a huge jump in pricing for the area.   Comparably a resale home slightly smaller sold for $1,4 million.   As soon as the new builds become resales, the area should see further price gains.  Making Portola Hills an ideal place to purchase a home today.

Now we might be a bit bias, as we have always felt this way. The community overall offers a wide range of homes, beautiful landscapes and natural habitat with views of the Saddleback Mountains and the Pacific Ocean.  If you are thinking of making a move, don't hesitate to give us a call to review the current market whether buying new or a resale, having a realtor by your side who is passionate about the community is key to get your home sold quickly and for top dollar.

Thursday, March 21, 2019

Just Sold - 34 Korite, Rancho Santa Margarita

We are going to miss you in Portola Hills but we are super excited that you found the perfect home for your family.


If we were to pick a neighborhood with similar characteristics of what you loved about Portola Hills, it would be Melinda Heights in Rancho Santa Margarita. The community offers great community amenities for the family.

Thank you for entrusting us with the sale and purchase of your home! 

Portola Hills Home Search


If you are thinking of a move, now is a perfect time to take advantage of the real estate market, after the slight shift we saw this winter.  More inventory of homes is expected to come this summer so listing your home now gives you the advantage of less competition.  Don't hesitate to contact Kelly Turbeville today to review the market in your neighborhood.