Sunday, November 9, 2008

Portola Hills eNews

New On the Market

Property Details

Price

Comments

18921 Canyon Hill

2 bed/1 bath/880 sq.ft.

$199,000

These condo’s

19605 Agria Way

2 bed/1 bath/1015 sq.ft

$250,000

Are all priced

19387 Cascade Dr.

3 bed/ 3 bath/1255 sq.ft.

$352,900

Under Mkt

28465 Klondike

3 bed/3 bath/1255 sq. ft.

$358,000

Investment Potential

Sold Properties

29011 Canyon Ridge

2 bed/2 bath/908 sq.ft.

$305,000

19826 Canyon Smt.

3 bed/2 bath/975 sq.ft.

$275,000

19801 Meadow Ridge

2 bed/2 bath/940 sq.ft.

$279,000

28474 Porsena Way

2 bed/2 bath/940 sq.ft.

$295,000

19372 Cascade Dr.

3 bed/3 bath/1303 sq.ft.

$359,000

Someone got a steal!

19036 Canyon Terrace

3 bed/3 bath/1297 sq.ft.

$382,000

28331 Millwood Rd.

5 bed/3 bath/3230 sq.ft.

$800,000

Portola Hills Mello Roos - Wonder what the maturity dates of the mello roos bonds in the area are:

  • S2 Mello Roos – Current bond is schedule to mature 2016
  • R3 Mello Roos – Current bond is schedule to mature 2015
  • Q1 Mello Roos – Current bond is schedule to mature 2011

One thing to keep in mind w/Mello Roos bonds they have individual terms and though the maturity dates could continue further. Example – The S2 Mello-Roos has no specified end date, however the bonds that have been issued thus far are scheduled to mature in 2016. The district has not yet issued up to the maximum authorized amount of bonds which means they could issue more bonds if they see a need and Mello-Roos could continue until all authorized bonds have been issued and are paid off.

When attending the Community update of the Portola Hills Center it was mentioned that the new development may help in reducing these bonds for current residents as they would spread over the new development.

Portola Center Update: Wandering what is the next phase of the development is? I had a quick conversation with the developer to see what the status was and he noted the following:

“We are in the process of preparing the next round of plans for Portola
Center, which include an Area Plan and subdivisions maps. We hope to submit these plans to the City in about a month. Based on these plans the City will have to prepare an Subsequent EIR evaluating the environmental impact of the proposed plans. That process should take about 9 months”

Have Loan Modification Questions? We are hosting a webinar 11/12 to help you learn more about the possibilities. Check it out from the comfort of your own home! Contact Kelly to reserve your reservation link.

Happy Fall!

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