5 Issues Impacting the Portola Hills Real Estate Market Today.
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...