PORTOLA HILLS LIVING by Kelly Turbeville

South Orange County and communities like Portola Hills are rated in the top 10 cities throughout California. I am sure agree we want to keep it that way.  Unfortunately every day it seems we see more fraud, regulations and such that are putting our communities in jeopardy.  I have had enough.. so if you follow along you know I have been speaking up to our representatives and candidates about how they are going to hold Sacramento accountable to the people. It really has been eye opening.  A perfect example of this is what happened with Prop 36.  70% of Californian's voted together, Democrats, Republicans, Independents that we wanted stronger law and order and to reverse the horrible Prop 47/57 that made crime a misdemeanor.  70% of people said yes to Prop 36 and it passed.  But today the law is not being funded. Who's job is it to make sure it is, our state Attorney General. This is just one example but a perfect one.  Another one is the recent rewrite ...

August was a quiet month for closed sales in Portola Hills, but there is a little more happening beneath the surface than the sales numbers suggest. Only three homes closed escrow during August , and those three sold quickly, averaging just six days on the market . At first glance, that might make you think homes are flying off the market. They’re not. The homes currently available for sale have been sitting for an average of 57 days , while the homes currently in escrow averaged 77 days on the market before finding a buyer. That tells us something much more interesting about the Portola Hills market.  Buyers Are Making Decisions In my last market report, we were watching 37 homes available for sale in Portola Hills. Since then, 17 of those homes have gone into escrow. That is nearly half of the inventory we were watching. So while closed sales were quiet in August, buyers were out shopping. But they weren’t rushing. And that distinction matters, because for the past several yea...

  There is a phrase I keep coming back to lately: “A home starts with intention, not perfection”. And maybe that is something buyers need to hear right now. Because if you are waiting for the perfect house to come on the market, at the perfect price, with the perfect interest rate, in the perfect neighborhood, with the perfect kitchen... You may be waiting awhile and missing the opportunity in front o you.   Let’s be honest, The Perfect House Probably Doesn't Exist After more than 20 years in real estate, I have watched buyers walk into homes and immediately start mentally remodeling them. And there is nothing wrong with that. In fact, I think that is part of homeownership journey. But one questions, buyers often put out of the mind is the most important one. Does this work form my life today?   Can I comfortably afford it? Is it in the location I desire?   These four questions, are important because, let’s face it, they can be difficult or expensive to change. The m...

Portola Hills an the overall Orange County real estate is being shaped by more than home prices.   Rising inventory, mortgage rates, insurance costs, condo financing requirements and California housing policies are all influencing what buyers can afford and how sellers should prepare. One area in particular could be worrisome for Condo/Townhome owners in the area and Opportunity for Buyers.   For years, condos have been considered the more affordable path to homeownership. But rising HOA dues, insurance costs, special assessments and tighter lending requirements are changing that equation. We are seeing it right here in Portola Hills. According to July MLS data: • Attached homes averaged 75 days on the market • Resale single-family homes averaged just 6 days When I priced our last condo competitively, I received some concern from other agents. Even with the right price and marketing, we were on the market for more than 30 days. We sold. Other condos are still sitting...

The real story this month isn't the number of homes for sale. It's the difference between the single family and attached home markets. Single family homes that sold in July averaged just six days on the market . Attached homes, on the other hand, averaged 75 days before selling. That's a dramatic difference, and it's consistent with what we're seeing throughout Orange County. Why? Affordability continues to be the biggest challenge. Condo buyers are typically more sensitive to monthly payment than buyers in the detached home market. When you combine today's mortgage rates with property taxes, homeowners insurance, and steadily increasing HOA dues, the total monthly cost can easily add another $1,000 or more beyond the mortgage payment. Buyers aren't just shopping for a purchase price anymore. They're shopping for a monthly payment they can live with.   Search Portola Hills Homes  If you're thinking about selling a condo, it's important to un...