Will there be a Spring rush of Home Sales in Portola Hills? March 2013 Real Estate Snapshot

Shhhh....  It's quiet in Portola Hills and we are not just talking about the tranquil neighborhoods.  We are talking about the real estate market.  Typically March in the Saddleback Valley we see an uptick of homes coming on the market.  The inventory at the end of the 2013 was at an all time low, we saw about a 7% increase in inventory after the holidays. However, here in the Saddleback Valley and especially Portola Hills it was Quiet!!

Reports indicate the market is heading back to 2006 levels  so looking at the number of homes that sold this time in 2006 (17) vs. what has sold this month (6), you can see it is pretty quiet.  Over the last few years the average number of homes sold in March is about 10.

The good news here is for Home Sellers.  When the inventory is low and the buyer demand is high that means it's a sellers market.    The rule of supply and demand wins!

Below is a summary of what sold in March in Portola Hills:

March 2014 Portola Hills Sold Homes










If you are consider a move this year, you'll want to keep in mind how inventory levels affect home pricing. Take a look below at our info-graphic by month of the inventory level vs sales price.

Portola Hills Inventory vs. Sales Price





















Planning makes perfect! However, buyers are more savvy these days and with all the data available it is very important for sellers to list their home at Fair Market Value otherwise it will not be first choice for today's buyer.Ever wonder when you drive bye a house and it is still available....?

Strategy is Kelly's strong suit,  if you are considering a move.  We are happy to review with you the current market along with the any home staging and a market plan to bring you top dollar for your home!





Location: Portola Hills, CA 92679, USA

Comments

Post a Comment

Popular posts from this blog

Portola Hills Annual Food Drive - Hosted by Realtor Kelly Turbeville

Image
It's that time again.  Each year we host an Annual Food Drive in the Community of Portola Hills to support the local community and the efforts of South County Outreach! It is super simple to participate.  See the list below of needed food items, simply text us with for pick up. We are picking up food the week of May 6th.  Last year we collected over 930 lbs of food!  We hope to beat that this year!  Reach out direct to Realtor Kelly Turbeville with any questions. FOOD DRIVE UPDATE:  THANK YOU PORTOLA HILLS, WE COLLECTED OVER 1000LBS OF FOOD TO SUPPORT SOUTH COUNTY OUTREACH!!   We couldn't have done it without your support! 
Read more

Where are all the houses for Sale?

Image
If you are thinking about a move, downsizing, relocating and have been searching for a home, you are probably thinking "where are all the homes for sale" isn't this time of year that we would see them? The answer to the later is yes!  May is typically the busiest month in real estate.  However with over 80% of homeowners refinancing to the low rates over the last couple of years, homeowners are in no hurry to make a move into a higher rate.  Is this you?   But life happens and buyer demand is pretty strong in most price points.  One reason... is the equity position homeowners have.  Just released over 67% of homeowners homes are either paid off or they have less than 50% remaining on their mortgage.  That means there is a ton of equity in the market!  In addition, buyers have come to terms with interest rates.  They understand they can refinance later. As we do anticipate home prices to sky rocket due to this inventory issue not being resolved and rates will come down. He
Read more

Is your Portola Hills home going to be your first Rental Property?

Image
Did you know there are over 200 original owners here in Portola Hills.  The community was started in the late 80's so that is nearly 40+ years of equity growth for those homeowners.  Especially with the median price of the area nearing $1 million dollars.   Most of those homeowners have very low mortgages or the homes are paid off, which provides them with a wonderful opportunity to leverage their equity into other rental properties.  Perhaps the original home could become or has become their first investment property. With rising rents, right now is an excellent time to perhaps take the jump to become a landlord.   Check out these 3 Mistakes we see first time investors make in the real estate market. 1.  Not doing a cash flow analysis. 🤑 It is easy to say, oh my mortgage is this, I can rent it for that and do the math.  But it goes much deeper than that, understanding your overall cost is critical step in planning. 2.  Not working with a real estate agent. 💁‍♀️ Truth, having a R
Read more