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Showing posts with the label Kelly Turbeville

Portola Hills June Real Estate Recap - It's Hot!

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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

That Home Sold for What in Portola Hills?

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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

First Month of 22 is a Hot, Hot, Hot in Portola Hills

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 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

$766,000 in extra equity received by Portola Hills Sellers in April

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Yep you did read that right!  Each month we do a deep dive into the previous month of real estate sales in the community and we noticed a trend a while back as the market started to get a bit crazy that no one is talking about.  In our March review we noted sellers who sold in March received an estimated $366,000 in extra equity/profit.  In April that figure almost doubled!  Homeowners who sold in April received over $766,000 in extra equity/profit. The number is the total profit received for the area.  The average equity per seller was about $65,000. Historically April and May are the two busiest months of the year for real estate sales, so it will be interesting to see how much of gain Seller's will receive in May.  Below is a snapshot of the Portola Hills real estate market performed overall in April.  There are two details in the above report that give us the biggest clue as to why sellers received so much equity.  First there is currently less than a half of month of inventory

Portola Hills Food Drive hosted by Realtor Kelly Turbeville

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 It's our favorite time of year! We are hosting out Annual Portola Hills Food Drive to support South County Outreach.  Each year, the community does an amazing job collecting food for those who need it most.   We are super excited this year to coordinate the Portola Hills drive with our entire real estate team at Keller Williams Spectrum Properties in honor of Keller Williams Red Day.   Since May of 2009 our entire KW Family, from the U.S. and Canada to our family abroad, sets aside the second Thursday of the month to Renew, Energize, and Donate within the communities we serve.  GPS real estate group and Keller Williams Spectrum Properties took this a step further and are hosting a Red Month. From now through May 7th we will be collecting food to support the community.  Below is a list of food, we are collecting.  Donate Here If you would like to support the food drive, it is super simple.  Text me at the above number or you can click the donate here.  I will be collecting food Ma

Congratulations to all the Single Girl Bosses who see the value in Homeownership.

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Being raised by a Single Mother and being on the constant move as a child, homeownership was something I always strived for as a child. The stability I saw it bring my friends who grew up in the same home and went to the same school was something I desired as we moved a lot. With each new city, starting over.  I believe subconsciously this drove me to work extremely hard in my 20's so I could purchase my first home. I remember at the time, people telling me, "I was too young, I should wait until I got married, how can I afford it on my own, wouldn't it be better with two incomes."  I wasn't making a lot a money, at the time I believe it was under $40k and the interest rates were 8.25%... crazy!  My Realtor, Frank believed in my goal and helped secure financing and with as little as 3.5%, I bought my first home! I'll never forget that moment and yes I was very anxious but the joy and stability it brought is almost unexplainable. As this month is Women's His

Portola Hills February Market Report.... Hot, Hot, Hot!!

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We took a look at the Portola Hills real estate market and in one word, CRAZY! Sales volume is up, values are up, inventory of available homes is way down! Even at the new communities there is low inventory of available homes.  That means, Sellers can pretty much ask what they want for their home and if it is priced right, buyers are coming with aggressive offers.  As you can see from the above, values are up about 24% from the same time period last year.  That was right before Covid, landed on our doorsteps.  Who would have thought, we would see such strong growth during a pandemic.  Search Portola Hills Homes Buyer's have an insatiable demand for homes right now and want to take advantage of the low interest rates.  They are open to competing for the right home, and removing contingencies, etc. to ensure their offer is at least in consideration.  However, the offers are so strong, Seller's aren't even countering as they have a number of good offers to choose from. Ready

Portola Hills 2020 Real Estate Review

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We bet you're happy 2020 is behind us!  What a crazy year, is all we can say!  We hope that you and your families were not impacted to harshly by it.  We took a look at how 2020 impacted the Portola Hills Market and all we can say is, who would have thunk (yes thunk) the real estate market would have been so strong!  I guess all that time at home, sparked buyers ideas that it is now time to move!  Did you make a move, or think you would like to? Below is a snapshot of how the Portola Hills Real Estate market performed for the the entire year!   What is the value of my Portola Hills Home? Overall the Portola Hills real estate market was very strong with 18% in sales volume from 2019, with 172 homes sold in 2020.   The most expensive home sold in the community was for $1.8 million in The Oaks and the least expensive was $335,000 in the Canyon View community.   Home values were up in both single-family and attached homes, but we have to look at this with an objective eye, as many of t

Ready to Win our Annual Holiday Cash Contest

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Tis the season and we are always excited about our Cash Giveaways.  Especially this year, as we know it has been a difficult year for many.  You have four chances to win. Simply complete the entry and you will automatically be entered.  See below for details. For those clients in Portola Hills who entered our Fall Decorating Contest, which we had to cancel do to the Silverado Fire and Evacuation, we have automatically entered you into this contest.   Enter me in Kelly Turbeville Holiday Cash Giveaway Deadline to enter is Tuesday Dec 15th. 2020 How to Enter: Click Here Terms apply:  This contest is sponsored by Kelly Turbeville with GPS real estate group at Keller Williams. It is not affiliated with any online programs.  Participants who complete the online entry form will be entered into the contest with the possibilities of winning 1 out of 4 cash prizes.  There is no guarantee of winnings. All participates names will be drawn in a random selection.

In such a hot market, why are we seeing price decreases?

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As I was preparing for a Buyers Consultation with a new client who is looking for a home in Lake Forest, I noticed a huge percentage of homes with recent price decreases. Is that good news for homebuyers?  In both Single Family homes and Attached homes, which made me dig a little deeper as overall in the OC, inventory of available homes is very low and demand from home buyers is very strong... so again, why would sellers being see a price decrease? Take a look at the our Market Snapshot we just put together. As you can see on the Attached side of the market, 29% of the homes currently available have had a price decrease.  For the Single-Family side of the market, 39% of the homes currently available have a had a price decrease.  While only about 6% between both segments had a price increase.   When the inventory is low, and demand is high sellers should be able to expect  multiple offers at the full price or even above.  If this isn't happening, that generally indicates the home is

Portola Hills Fall Decorating Contest

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It is time for some fun!  So we thought it would be fun to do a Fall / Halloween Decorating Contest in the community .  Decorate your whole house or just your door.  All we want is for the community to have fun! It can be Halloween themed or if you prefer Fall or Harvest that is great too.  We will have two Grand Prizes:   Best House: $100.00 Home Depot Gift Card Best House: $50.00 Home Depot Gift Card Open to all communities in Portola Hills!  Check out details below!  Enter me in the Portola Hills Fall Decorating Contest Don't hesitate to reach out to Kelly Turbeville with any questions you may have.  

Portola Hills Real Estate is Hot, Hot, Hot in August!

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 The Portola Hills real estate market was hot, hot, hot and we aren't talking about the weather. Sales Prices and Sales Volume were both up from the same time last year. With record breaking pricing in the Montecido community.  The highest price sold for a 3 bedroom, 1300+ townhome in the Montecido community was sold for $622,000.  When home buyers come up the hill to preview townhomes in the Ironridge community the Montecido community offers a great value, which in turn is driving up pricing of this community.  As well, inventory is very low throughout South Orange County. Below is a look at how the Month of August performed in Portola Hills. Search Portola Hills Homes If you are thinking of making a move, this is the market you have been waiting for!  Interest rates are hovering between 2-3%, which provides you the ability to purchase your move up property for less.   Please don't hesitate to give Kelly Turbeville a call to review if now is the right time for you to make a mo

Portola Hills Food Drive Supporting South County Outreach

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It's time for our Annual Portola Hills Food Drive supporting South County Outreach.  Each the year the team at GPS real estate group holds this event to provide food to those most in need. This year with the pandemic the need is extremely high.   It is pretty simple to participate, simple text us that you would like to participate, put your food out on the pick up date 8/22 and we will swing by and pick it up from you. In 2019 we picked up over 700 lbs of food from the community, which was greatly appreciated by South County Outreach .  Our goal this year is a 1000 lbs, so we need your help! South County Outreach's vision is to End Hunger & House Hope in Orange County. How do we do that? Through our programs, like our Food Pantry, which is the largest pantry in South Orange County, and our Transitional Housing Program, which helps homeless families get back on their feet with the tools and counseling they need to succeed. It’s a big job, but we’re not alone. We believe that

Values and Volume up in Portola Hills during Covid 19

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Who says people don't buy homes during a pandemic?  Looking at the real estate market this past July for the Portola Hills community, sales volume increased 38% from the same time period in 2019, buyer demand is extremely strong! Though there are concerns with unemployment, the rest of the market is pretty strong in the OC.  My interruption from working with clients is, all this time at home is highlighting what doesn't work in their current home. That, along with the low interest rates,  strong equity position, sellers are looking to sell and move up to their dream home.  Also, those who rent see that with the low interest rates it is literally cheaper to buy right now! Finally home represents security and I think we all are looking for a bit more of that in our lives these days.... would you agree? Below is a quick snapshot of how the real estate market preformed in July: What's my Portola Hills Home Value With interest rates hovering below 3% this has become the real est

A Quarantined Portola Hills Real Estate Market

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We are in about our 7th week of quarantine in Orange County and if you are anything like me, I am sure you are getting restless.  We just really hope no one in the community has been too affected by this virus either with their health or financially.  We get many questions asking how the real estate market is performing during this time? The good news is, it is hanging in there.  This is not like 2008!  The current inventory levels are extremely low compared to what we saw during the last recession.  The biggest impact to the real estate market is going to be unemployment, but pleasantly the numbers and activity in Portola Hills remained strong in April, as you can see below!  Looking at the above numbers you can see the strength of the market in two indicators.  First the list to sale price ratio. Seller's received over 100% of what they were requesting when they listed their home. Actually the received over! Most likely from multiple offers. The second indicator is the months o

Fall Real Estate in Portola Hills

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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

Are Portola Hills Homes Being Under Sold

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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

Was there really a 28% increase in Portola Hills Home Values?

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We just finished up our review of the Portola Hills real estate market for September and it was hot, hot, hot!!   Both home values and sales volume were higher last month then the same time period in 2017.    This is slightly different then the rest of the OC real estate market.   Though we are starting to see a slight shift towards a balanced market and homes are taking longer to sell, we did not see a decline in pricing. Search Available Portola Hills Homes Below is a snapshot of the Portola Hills real estate market in September Looking at the current real estate market, we see plenty of opportunity for both sellers and buyers.  Thus why it is called a balanced market.  Honestly, if you are thinking of moving up and/or downsizing, today's real estate market offers you the opportunity to take advantage of the equity you gained the last few years and now provides more buying power.  Especially before interest rates rise in 2019. What's the Value of my Porto

Portola Hills Real Estate Snapshot for July 2018

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There is a lot happening in Portola Hills in regards to Real Estate.  New homes being built, new communities added that all impact your home values.  So we took a look at how the market performed in July.   Take a peek!  Portola Hills saw a 10% increase in pricing from the same time last year on single-family homes. However, on the Condo/Townhomes pricing was flat.  Which honestly makes no sense to me, as demand is extremely high.   There is certainly room for pricing growth on the attached side of the market.    What is the value of your Portola Hills Townhome? The big story in July is Sales Volume, which was down 38% from the same time last year.  Why? It could be just a seasonal shift or that we saw an increase in sales before the new homes came into the area.  After all it is not fun competing with new homes sales in your backyard.  Buyers love to look a pretty new houses, so your house has to compete, otherwise the minute buyers walk in they begin deducting dolla

Off to Escrow We go on this Lovely Montecido Townhome

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Our listing at 28385 Pueblo Dr, in the Montecido complex of Portola Hills has gone into escrow.  This lovely home was priced right at $485,888 and received multiple offers and went into escrow on day 3 of the listing! Congratulations to our Sellers!   This home was a must see! Upgraded, move-in ready and a great value for first-time homebuyers, emptynester's and Millennial's alike! Its charming 2 story, 3-bed, 3-full baths (with bed/bath on ground floor and 2 master suites upstairs), 1300 sq ft. boasts high cathedral ceiling and over-sized windows making it bright and airy. It has a big, private backyard for summer BBQs, as well as an attached, direct access 2 car garage. Some of the features include upgraded kitchen, refurbished bathrooms, laminate wood floors, newer carpets, new garage door and water softener, just to name a few. Nearby shopping, restaurants, toll road, walking trails and walking distance to award winning schools. Low HOA dues and NO MELLO ROOS!