Portola Hills March 2016 Real Estate Snapshot by Realtor Kelly Turbeville

Spring in Portola Hills is probably one of my favorite times of year.  The weather is just perfect.  Cooler mornings and evenings, keep the green on the hills.  As well the sunsets this time of year are just beautiful.

Of course one of the other aspects I like about spring is the real estate market starts to heat up after a couple of quiet months.   However, in Portola Hills march was still pretty quiet, but so was the rest of South Orange County.  Inventory overall is very low throughout the county.

Below is a snapshot of the Portola Hills Market:

Portola Hills Real Estate Values March 2016 by Kelly Turbeville
As you will note there was a significant up tick in the median sales price.  It is always important to note the mix of homes sold during this time last year was a balanced mix of both condo's and single family residence. This March the mix was all single family residences.  


The lack of condo sales is a true indication of the low inventory.  In Portola Hills the average condominium sells between $375,000 to $500,000.  This is a critical price point for first time buyers.   It as well spurs the move up buyers.   





It is an excellent time for condominium owners to take advantage of the low inventory and get top dollar for their home.   There are some challenges condo homeowners need to be aware of in Portola Hills with FHA Financing but a professional Realtor should be able to help you understand this and find you the right buyer..

Please don't hesitate to contact Realtor Kelly Turbeville if you would like a deeper look at your homes value..

Location: Portola Hills, CA 92679, USA

Comments

Post a Comment

Popular posts from this blog

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

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