Portola Hills vs. Baker Ranch High End Homes..what is so different?

I wrote an article earlier in the week about the Highest Priced Homes sold Year-to-Date in Lake Forest and wanted to share with my Portola Hills peeps a bit of the details..

I pulled a pretty basic search out of the MLS, homes sold over $900k in Lake Forest.  I was actually pretty surprised by the results.. Where was Foothill Ranch?   What about the homes sold around the Lake??  All good questions if you are familiar with the area...  The biggest surprise was highest share of homes sold for over $1 million were in Baker Ranch with Portola Hills coming in 2nd. Below is a look at homes sold.

Lake Forest YTD Most expensive homes sold

Baker Ranch is a lovely new community.  NEW is the key!  We all love to look at new homes; when you walk in you feel refreshed, inspired, wowed, etc.  Does that feeling account for a 17% increase in the price per square foot?  Obviously as this report suggest 6 of the homes sold were in Baker Ranch.  As well, overall in Orange County we find 2 out of every home sold in 2014 was a new home!

But if you look at the details of the homes sold in Portola Hills you find the buyers are actually buying "more of home" here.  The home size, lot size and I have to say amazing views all out pace the homes sold in Baker Ranch. 

If I was to compare the communities overall they are actually very similar.  Nice homes, nice association amenities, access to good schools, entertainment and transportation.  The one thing Portola Hills has that Baker Ranch does not is the amazing views and of the Saddleback Mountains and Pacific Ocean.  As well access to the Whiting Wilderness Ranch.

For Portola Hills home sellers to capture part of the 17% increase in sales dollars, it is critical that their high end homes command that feeling I discuss above when home buyers walk in.  Will buyers feel refreshed?  Are they inspired?  Is the home upgraded to current standards?  As noted above, Portola Hills has the #1 aspect home buyers are looking for when buying higher end homes and that is location, views and access to great schools.

Lastly if you are considering a selling your Portola Hills home your agent should be sharing what is selling around Portola Hills and then marketing your home to it's full potential.  Setting the selling strategy needs to happen long before you list your home, Kelly can help you do just that, don't hesitate to give me a call to review your needs.


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