PORTOLA HILLS LIVING by Kelly Turbeville

Don't you love after it rains when you see a rainbow... If you have ever driven up the hill to Portola Hills you often see one.   I just got done looking at the numbers for how the real estate market did in Portola Hills in the month and February and it remained very strong, add a bit more equity to homeowners in the community.  While the number of transactions were down from 2023 to today,  5 in 2023 - 3 sales in 2024,  values were up over $1.5 million.  Take a look below at the our Portola Hills February Market Report!  WHAT IS MY PORTOLA HILLS HOME VALUE  Low inventory continues to drive the market, but different from the last few years in Portola Hills, there currently are not any new homes for sale.  That means, home sellers have the opportunity to capture all those price gains for yourself. The Oaks at Portola Hills, has advised they will start building again but those homes would most likely not be available until end of 2024 early 2025 and they will be on the high end. If

 I just took a look at the market stats for the first month of 2024 and WOW, homes values increased double digits in January.   Take a look at my full report below!  Do you see that percentage home values increase in the first month of the year!  21%!! The average price of a single family home in January 2023 was $1,286,539 vs. today at $1,629,858.    In January 24 the highest price home sold for $1,939,000 and the lowest price home was $599,000. Right now there are 7 active homes available in Portola Hills.   If you are considering a move, make sure to check out my video on the Truth of when is the best time to list your home!     Don't hesitate to reach out to me direct to review how we can help you achieve top dollar for your Portola Hills home!  Check out my full video market recap below!  If you are considering buying a home in Portola Hills, make sure to get a copy of our Portola Hills Home Buying Guide!   It is filled with valuable information about the Portola Hills communi

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

The summer heat has hit Portola Hills and that is impacting the real estate market in a couple of ways.  First the Portola Hills community continues to remain strong.  Pricing remains high, with the average price of a Single Family Home in Portola Hills is $2,013,000 in June.  The price for an attached home was $671,500.  Sellers slightly received over their list price.  Below is our full report! Portola Hills Available Homes Currently there are only 1.5 months of inventory available, which continues to drive pricing.  Especially in Portola Hills as the majority of homes available currently are New Builds in The Oaks or IronRidge.   As with the overall OC real estate market, Sellers are staying put, as they do not see a need to make a move and are loving their low interest rates.  Home buyer demand is there and buyers are getting use to the higher interest rates but affordability is starting to impact purchases.  Thus why we see less homes selling currently.  Sales volume is down 32% i

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

 Wondering how the real estate market did the second month of 2023?  Check out our monthly real estate snapshot on what properties sold in Portola Hills along with current homes available and coming soon!  Did you check out those values!  I admit, even though I am in the real estate business these prices do surprise me sometimes.  The average price of a home in Portola Hills was $1,536,000 in February, that is up from $923,597 in 2022.  Of course, mix of homes plays a roll in this.   Overall in Orange County, home prices are being pushed up by low inventory.  Low inventory is good news for sellers, but with higher prices and higher interest rates, buyers are a bit nervous.  Sellers need to be careful in navigating today’s housing market. Homes priced according to their Fair Market Value and decent condition will procure plenty of activity and, in many cases, obtain multiple offers. But homes in poor shape with plenty of deferred maintenance, houses with an inferior location, and overp

 We just took a look at the Portola Hills real estate market and how it performed in the month of October.  There certainly was a shift, but it really wasn't where you thought it was.  The shift we are seeing is in the number of transactions... not values, take a look at our market update below.  As you can see from above all these numbers are positive.  In fact, seller's still sold over list price.   Truth is... the market the last couple of years was not a normal market.  Today's market is, but we are still struggling with low inventory and new homes that are coming on the market don't curb this demand for the majority of the market because the are at starting prices above a million.  Portola Hills October Market Report Video by Realtor Kelly Turbeville   If you own a condo or townhome or your value is under let's say $900,000 there is a huge opportunity for you to still get top dollar for your home. Your home probably is not going to sell in 5 days, but it will s

 Wow... did that change quickly!  How did the real estate market in Portola Hills inventory jump up so dramatically in the last month.  Thank the new home buyers who purchased in the first phase of IronRidge and The Oaks and are know selling for top dollar.   Below is a quick look at the market!  The big news here is pricing continues to be high, which makes it a great time to sell.  However, demand has slowed down considerably and there is nearly 6 months of inventory in Portola Hills.  So sellers who are considering selling their home now, must be super competitive in two area, price and condition.  For further details on the market, take a quick listen to Video Report.  Wondering if the value of your home shifted... Get your FREE Home Analysis right here! 

Congratulations to another KW client who just moved into the Portola Hills neighborhood of Serenado.  The Serenado community is a fairly small community of 166 homes and part of the Portola Hills II homeowners association. There are 3 floor plans: Rhapsody: 3 bedroom, 2.5 bath, 1561 sq.ft. 2 car garage Concerto:  3 bedroom, 3 bath, 1771 sq.ft. 2 car garage Symphony: 3 bedroom, 2.5 bath, 1891 sq. ft. 2 car garage I wrote a blog back in 2015 with more details of this tract and since then homes have just about doubled in value.  Here is a look at the overall values today!  Right now, offers Portola Hills homes sellers in the Serenado tract and excellent opportunity to take advantage of their equity growth.  Whether you are thinking about selling and moving up or downsizing into your next home,  utilizing some of your equity to upgrade the home or leveraging it into an investment property, we are here. We will review with you if you can benefit from Prop 19, which allows you to take your t

What would you say if I told you pricing right now is right on track! You would probably say, pricing is crazy!  I recently attended Keller Williams Economic Recap and Forecast and a couple of details really hit me.  Because I too, even being in the business, was thinking this pricing is crazy! Then I saw this graph.  Home Prices This above graph shows the average home prices over the last 20 years has averaged about 4%. That is below the historical average of 6-8% before the downturn in 2008-2011.  Portola Hills saw appreciation of over 20% last year, so while that is great, it really was just the market making up for downturn.  Four percent appreciation is a very healthy real estate market.  Annual Home Appreciation The biggest hurdle to the market right now is inventory of homes.  There simply has not been enough building to keep up with demand since the downturn.  How we catch up is going to be a challenge certainly for the near future.  Below is a look at the inventory of homes an

 So have you heard the 22 real estate market is starting off with a bang!  Overall in Orange County we have the lowest inventory on record.  Currently there are about 1200 homes available for extremely high demand throughout the OC.  In Portola Hills, we have about a half a month of inventory available.  So what does this mean... In order for us to have a more balanced market for buyers and sellers, we would need to have about 6000 homes available.  For the market to turn to a buyers market we would need about 8000 homes.  As you can see with the current inventory of under 1200, listings are needed, which is an amazing opportunity for sellers.  Especially if you are looking to make a move up, because right now interest rates are still low and we know they are projected to increase throughout the year. RIGHT NOW, provides the opportunity to sell high and save $$ on your purchase! Below is a look at how the Portola Hills real estate market performed!  Enter our Valentine's Giveaway C

  We took a look at the current real estate market and we only have 1 wish for Santa this Christmas... More Listings please!!  Overall, in the OC inventory is at record lows.  We are entering unprecedented levels when it comes to the number of homes on the market and available to buyers.    So we anticipate the market to remain strong in 2022, but there are a couple of factors that you should be aware of... but first let's look at how the Portola Hills real estate market performed last month.  As you can see in the above report the Portola Hills real estate market is extremely strong.  Currently there are only 6 Active Listings and 27 properties under contract.  That means we have less than half a month of inventory for prospective buyers.  With the majority of those homes, being new homes in IronRidge and Portola Oaks. The 3 hottest neighborhoods that sold in November were: Montecido at an average price of $590,000 Serenado at an average price of $885,667 IronRidge at an average p

We are sure you have heard, the OC real estate market is hot, hot, hot!  In this months monthly market report we went a bit further to understand exactly how hot and we thought this was important for our clients to know.  In March, sellers who sold their Portola Hills homes, received an additional $365,000 in profit.   What does this mean? This is the profit sellers received above their listing price!  Example: A Live Oak Canyon Home Pool Home Listed for $1,099,000 Sold for: $1,150,000 Extra Profit: $51,000 It is accumulative, but looking at what $$ sellers received they averaged about $30,000 over list price.  It's also important to note; not all sellers received this, some homes sold at list price or sold just slightly over list price. This is one of the reasons we say be careful who you list with.  In order to achieve higher profit results, we highly recommend working with an experienced agent who has navigated this type of market before.  Below is a look at the overall Portol

Can you believe it, we are in October!!  I can't, once we hit October, for me, the year moves by so fast with all the holiday activity.  We are in the last quarter of 2020 and what a year it has been so far.    The good news, is even during this crazy time with a Pandemic going on the Portola Hills real estate market is very strong.  Below is a look at how the market performed last month.  There were even some records broken last month.  In the Montecido community Model C the Galante, sold for a record price of $615,000. That is amazing for this 3 Bedroom, 1200+ sqft home!  Now is an excellent time for those living in a Condo or Townhome to move up to that larger home you have been thinking about as buyer demand for your home is extremely high!  What's the Value of my Portola Hills Home? If you are thinking of a move, don't hesitate to reach out to me Kelly Turbeville for a quick review of what is happening in your neighborhood.  Don't forget to enter our 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. 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 resal

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!   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

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. 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

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.

If you have drove through Portola Hills, you will notice the building of the new communities is in full effect.   All positive for the community with the addition of new parks, shopping and trailways.  But how does it impact values   Below is a summary of what sold the first quarter of this year in Portola Hills.  As of this time no, new homes show closed in the last quarter.   However, currently there are 24 homes active in Portola Hills and 22 of them are all new builds.  This means the inventory is increasing, the area typically has less then 10 homes available this time of year. Below is a look at how the real estate market performed. If you are thinking of a move this year, now truly is the time to list your home.  As more inventory comes available this will impact your home.   Certainly we should see values increase but that really depends on the mix of homes and often times we see resales take a dip in pricing, until the sale through of the new homes is complete.

Are you looking for a view home that is upgraded, in a great neighborhood with awesome schools.  You will want to stop in on Sunday August 2nd to check out this listing! Open House 19522 Highridge This Serenado paired home is an exceptional value, listed at $634,900 and offers 3 bedrooms, 2.5 baths, 2 car garage and did I mention the views!! Waking up to the sunrise over the Saddleback mountains is pretty special as is ending your evening with a glass of wine and enjoying the serenity of such a beautiful view! The Serenado tract is located in the community of Portola Hills in Lake Forest. Walking distance to the Portola Hills Elementary which is a noted distinguished school.  Low tax rate with Mello Roos and low association of $135/month, which includes access to the Portola Hills II association Pool, Spa,  Gym, Clubhouse, Tennis, Volleyball and access to Whiting Wilderness Ranch . Can't make open house, don't hesitate to give us a call to schedule a showing! 19