PORTOLA HILLS LIVING by Kelly Turbeville

  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...