PORTOLA HILLS LIVING by Kelly Turbeville

Happy February 1st..  Yes we are officially in the 2nd month of 2017.  The month of love... will love shine on the Portola Hills Real Estate Market in February? We will have to wait and see but currently with the low inventory overall and the high buyer traffic at our open houses I don't see why it wouldn't.   Let's take a look at how the market performed in the first month of 2017: Jan 2017 Portola Hills Real Estate Sales Report Looking at the numbers, do you see that negative 5%.. yes me too and I probably had the same reaction you are having here.  Wait how can the value go down when all I am hearing is pricing is up?  OK maybe it is the mix of homes.. nope that doesn't work in this scenario as the mix of homes was almost identical, 4 condo's and 1 single family attached home closed.  In 2016 exactly the same but the 8 homes sold.    In 2016 the median price of home was $457k and as you can see above, this last month it was $435k.  So why.. it&

Spring is typically the "Real Estate Season"..  for home buying and selling but did you know typically February is a key month in that strategy...  Why... When list your home in early spring you have the best opportunity to receive top dollar for it.  Inventory is low... Buyers Demand is High and today we all know interest rates are still at historic low levels... Starting in April/May when real estate data starts to hit the market Sellers think it is the best time to list.. It's the herd mentality... Hey look my neighbors house is sold... should we list ours and the signs start to pop up. Currently in the market we are seeing busy open houses, multiple offers and price increases.  If you are considering selling your Portola Hills home,  let's sit and create a strategy to ensure you take advantage of the best timing the market offers. Below is a look at what sold in last month compared to 2014.  The exact number of homes sold but the price per square foot for th

Can you believe it is the 1st of October already!!  The air is cooling, well maybe the night air, the kids are back in school and homes are getting set for the holidays.  Traditionally September is a quiet month for real estate as most people want to get settled before the school year begins.  This year was no exception which is a little of a surprise as the inventory in south orange country remains very low.   Below is snapshot of the last 24 hours. 1185 homes came on the market between new listings and homes that fell out of escrow.  Yet 2508 homes went off the market. Demand for homes is far out reaching supply. Below is a snapshot of the real estate transactions for Orange County It's quiet here in Portola, only 5 homes sold in September.  Below is a breakdown of what closed escrow.   The sellers market is still very strong!  Though more inventory has come on the market the buyer demand is much stronger.   If you are considering a move, let's grab a cup

Wondering what  is selling in Portola Hills.   Below is a listing of all homes that sold in June along with two that has closed escrow in this first week of July. Three homes sold over asking pricing at an average of about 5% over asking. The average sales price in June 2012 was $347k with 7 homes sold. Average sale price in June 2013 is $542k with 10 homes sold.  Of course the important factor here is mix of homes that sold, but it does give you an idea of the increase in home values we are seeing due to the low inventory.   Though inventory has increased it is still far below buyer demand.  If you  are considering a move, now is the time especially with the anticipation  of higher interest rates in the last half of 2013. If you are looking for a detailed report on your home value, don't hesitate to contact Kelly direct.