PORTOLA HILLS LIVING by Kelly Turbeville

Looking at the numbers, this am for my monthly client update and we certainly see a market shift!  The number of available homes in Portola Hills has nearly doubled in the past month. We’re currently seeing 22 active listings and 5 under contract, which translates to about 4 months of inventory on the market.   As we step into the busy spring selling season, competition is heating up. If you're thinking about selling, strategic pricing and smart presentation will be key to standing out in this shifting market. Below is a snapshot of the Average Sold Price in Portola Hills, along with the hottest neighborhoods for March.   In Other Real Estate News! Tariffs, Interest Rates, and—oh yes— Zillow did what now?! Let’s start with the good news:   Inflation is finally cooling . That’s a win. But with potential new tariffs on the horizon, there’s still some uncertainty in the economic air. The bright side?   Real estate remains the number one hedge against infl...

 Hello Spring... The Spring Real Estate market is here.. be careful not to blink because it may be over before we know it.  Don't you agree time is moving so fast.  I was just taking a look at some numbers and there certainly has been a shift in the market, not necessarily a bad one. But it is important to understand if you are looking to sell your Portola Hills home or move to the community.   Take a look at our snapshot below..  The Orange County spring real estate market is off to a solid start! While prices in the first couple of months were slightly down from the highs of 2024, we've seen 10 homes close escrow, ranging from a stunning view pool home at $2.4 million to a cozy 2-bedroom condo at $624K. With interest rates coming down and open house traffic picking up, it's a promising sign for buyers and sellers alike. Remember, top dollar typically comes when inventory is low and demand is high — early spring is the time to make your move! There is a lo...

I don't know about you, but I am pretty shocked we are halfway through 2024.  There is so much going on around us in the world, I think it is truly speeding up time.   One area that is a bit quieter, well maybe the only aspect is the number of sales.. in the overall real estate market.  Other than that, there is a lot of talk around the real estate industry these days. So let's take a look at how the Portola Hills real estate market has faired so far in 2024..   As you can see from the above illustration, the average sold price for Portola Hills is $1,417,173, that includes an average sales price for single family homes at $1,885, 308 and attached homes at $856,327.  These homes sold in average time of 27 days.   What is the value of my Portola Hills Home The number of sales so far in 2024 is down about 23% compared to the same time last year.  High Interest rates is impacting this the most and low inventory... But homebuyers in the area...

  SOLD!   We just closed on this lovely home in Portola Hills, rather quickly I must say.  After just 5 days on the market, multiple offers, we went under contract and closed in just 15 days!  Setting a RECORD BREAKING PRICE OF $1,300,000! Is that too fast for you... Lol.  Never fear along with our negotiations we negotiated a free lease back to give the sellers time to make their move!  We always recommend a shorter escrow if possible as a lot can happen during a real estate transactions.  Our clients, who after loving this home and neighborhood, made the decision to downsize, but we also understand that was not an easy decision.. especially with views like these!  This 3 bedroom, Serenado paired home is a popular floor plan with over 1900 sqft.   The minute you walk in, guest feel drawn to the open living space and expansive yard.  Probably the largest yard in the tract.  No wonder we set a record breaking price in the commun...

Are you a sunset chaser?  Love the idea of having friends or family over and want that indoor outdoor feel... You have to check out 19561 Dorado Dr. in Trabuco Canyon.   19561 Dorado Dr. Trabuco Canyon About this home When the current owner first stepped foot into this home, they knew it was something special. The soaring ceilings and expansive open floor plan immediately captured their heart, offering a sense of home and endless possibilities. But it was when they stepped outside and beheld the breathtaking view that they knew, without a doubt, they had found their home. And now, as they prepare to pass the torch to a new owner, their deepest desire is for someone else to experience that same rush of emotion, that same instant connection that makes a house a true home. From the moment you arrive in the serene Serenado Community of Portola Hills, you'll feel it too—the unmistakable sense of this is our home!  This charming two-story paired single-family residence is ...

Are you a homeowner who is considering a move but has questions about the financial aspects? Is your current equity position going to result in Capital Gains or you are concerned about the cost of Property Taxes if you move?  Tired of speaking with one professional and then referred to another.  It's not easy finding real estate professionals who understand the complex realities of selling your home when you have a large amount of Equity.  While I must disclose, I am not a tax accountant.  I have put together an event that will help you look at options that are available to you, if you are trying to decide if now is the time to move. We will have a panel of experts in 1031 Exchanges, Capital Gains, Trust Solutions, Property Tax and Trust Solutions, plus I'll provide you a quick update about what is happening in the local real estate market.  Reserve my Seat! This workshop is designed for the Homeowner who knows they need to make a change, want to downsize, can't...

Question....IS CAPITAL GAINS HOLDING YOU BACK FROM SELLING? For those who may not be aware... When you sell a house for more than what you paid for it, you could be subject to a capital gains tax on the profit you make from the sale. Generally, people who qualify for the home sale capital gain exclusion can exclude: $250,000 of capital gains if single. $500,000 of capital gains if married and filing jointly. This exemption is formally called the Section 121 exclusion with the IRS. So if you bought a house in Lake Forest for $500,000 and let's say it is now worth $3,000,000. You would have a gain for $2.500,000 - $500,000 for married couples.. now your gain would be $2,000,000. Which becomes taxable income. 2,000,000 x 20% (tax rate) = $400,000 in Capital Gain Tax 😲 This is happening all over Orange County and other high cost areas and one of the reasons why "Baby Boomers" are not moving and deciding to age in place. If this is you... there a couple of things you can do ...

I am super excited to highlight a local favorite in our Monthly Giveaway!    Joe's Italian Restaurant and Bar in Ladera Ranch.  We miss having this popular restaurant right down the street, so I thought our neighbors would love a chance to visit a local favorite.  If you are not familiar with Joe's here is a bit direct from their website!  Joe’s Italian Restaurant & Bar, located in Ladera Ranch, California is a family-owned and operated restaurant and bar in Orange County. Our food represents traditional Italian cuisine with modern accents. Our goal is to provide an outstanding experience that will keep guests coming back again and again. We offer both contemporary interpretations of classic comfort dishes, as well as, unique ventures into new areas of Italian cooking. Why Joe's is one of my favorites.  Well just peek over at my Instagram Page, South OC Supper Club and you can see why.  But in short!  The food is excellent, the menu has a wid...

HAPPY NEW YEAR!  Can you believe it, we are officially in 2024!  I personally can not believe how fast 2023 went.  The real estate market in 2023 in Portola Hills was very strong!  It actually outpaced the overall Orange County real estate market.   Below is our year end report that summarizes how the community performed, along with a spotlight on 3 popular neighborhoods.   Does it shock you the average price of Single Family home in Portola Hills is $1.6 million dollars and an Attached home, Condo/Townhome is $785,000.  Home prices from 2022 to 2023 increased 15% in Portola Hills.   We are starting 2024 off with very low inventory, there are only 3 homes available at the time we wrote this report.  My phone began ringing from potential Buyers when rates went below 7%, so I anticipate the early spring market is going to get a little crazy as rates hit closer to 5%.  What is the Value of my Portola Hills Home? If you are co...

Residents are moving in.. to where you might ask?  The Portola Senior Affordable Apartments!  This has been a long time coming and the final buildout of the IronRidge community in Portola Hills, Lake Forest.   A little behind the scenes of this development.  When zoning changed in Lake Forest the owner of the land had the opportunity to move from commercial properties to residential.  There was a small group of us Portola Hills residence to who started a steering committee to try and ensure the development followed the wishes of the residents and stayed within natural aesthetic of lovely Portola Hills.  That was not always an easy task between builders and the city and honestly the residents, me included had huge concerns about this development.    Two areas, I am proud of is the Portola Park Dog Park , which was a suggestion of mine and then agreed upon with the city. This was a four million dollar project. This was needed as we only had 1...

Have you taken advantage of the City of Lake Forest BOGO to support local businesses.  It is such a great program.  Check out details here! In summary it allows you to purchase a $50.00 or $100.00 gift card and get a second one at the same value!  So you are getting FREE money.   There are over 80 local businesses in the city of Lake Forest that you can use the gift cards at!  Such a great way to support local businesses as well save on your purchases! Lake Forest BOGO Businesses If you have a business you still have time to add your business and with the holidays coming what a great way to bring in some extra business! I haven't seen this program at any other local cities, so I applaud the City of Lake Forest for keeping this program going!

As fall hits the calendar, we typically see a seasonal change in the real estate market.  Generally speaking it can be the best time to buy a home has homes that did not sell over summer, will start to see price drops and the hot selling season is over. That really hasn't been the case since before the pandemic however. Even this year, though sales volume is down, home sellers are still receiving top dollar for their home and in fact often times over list price.  That is certainly the case here in Portola Hills. Below is a look at how the Portola Hills real estate market performed in September, as you can see very strong.  We had a total of 8 homes sell and 7 went under contract.  The average days on the market is just 15 days.    Are you thinking about making a move but not sure if it is the right time for you?   Are you wishing you were living closer to family.   Did you know the number 1 reason people are making a move right now is ju...

Maybe it is my age, but it is certainly a trend I have seen this past year with clients.  They are deciding to leave Orange County and following their family to new locations.  With over 700,000 people leaving California this is more than a trend, I fear. Have your kids or family moved out of state?  Are you considering following them so you can be close to the grandkids or perhaps you just feel it would be more affordable? Relocating to be near your grandkids is a significant decision, and there are several important factors to consider to ensure a smooth transition and a fulfilling experience for both you and your family. Here are some key considerations: Proximity to Grandkids: Determine how close you want to be to your grandkids. Consider whether you want to live in the same city, within driving distance, or even in the same neighborhood. Family Dynamics: Have open and honest discussions with your adult children and grandchildren about your relocation plans. Make sur...

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...

When I decided to get my real estate license... 20 years ago, it was super important for me to help clients find a home in an area they are going to love. I can't imagine living somewhere and spending so much time in an area that I didn't enjoy. Of course, things change and moves are made. But when considering a move, I really work with my clients to ensure they feel the energy of their new community. When I look back at my why I selected Portola Hills, I realize I actually manifested this area to live. I had looked at the area about a year before I moved. After one of those lovely breakups we have, I had to find a new place to live. I remember thinking, oh I loved that Condo in Portola Hills. 6 months later, I bought that exact model, it was the first home I bought. 9 years later, I felt the need to change, but even being in the business of real estate II had questions about if that was the right time to make a move. I then walked into an open house and knew.. I found my next ...

Are you ready to downsize but concerned with how you can afford it?   Has the house become too large and you would love to have a single level?   Would you like to move to active retirement community and be closer to your kids?   Good news for our Portola Hills clients, is you have gained some great appreciation of the years and did you know you could use that equity to purchase a home with a Reverse Mortgage.  What a great opportunity to get settled in your forever home! Buying a home with a reverse mortgage is a unique option available to older homeowners who are 62 years of age or older. A reverse mortgage is a financial product that allows seniors to tap into their home's equity without selling the property or making monthly mortgage payments. Instead, the lender provides the homeowner with funds based on the home's value and the borrower's age, and the loan is repaid when the homeowner no longer lives in the home, typically when they sell the prop...

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 hom...

One of the reason's we love helping our clients expand their real estate assets is the tax benefits it provides to their families.  Let's be honest, no one loves paying taxes and in a day with inflation taking a portion of every dollar, having the opportunity to reduce, avoid or defer taxes is a huge benefit.  Good news owning real estate provides you a valuable opportunity to do just that!   Buying a home doesn't just provide shelter.. It is key asset to help you build financial security and help reduce your tax liability. Here are ten common tax benefits associated with owning real estate: ✨Mortgage Interest Deduction:  ✨Property Tax Deduction:  ✨Depreciation Deduction:  ✨1031 Exchange:  ✨Capital Gains Tax Exclusion: ✨Home Office Deduction: ✨Rental Loss Deduction:  ✨Tax-Free Exchange of Partnership Interests:  ✨Energy Efficiency Tax Credits:  ✨Real Estate Professional Tax Benefits: Here is a bonus one you may not be aware of,...

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! 

What a crazy year... the 2022 real estate market in Portola Hills started out insanely!  About mid-year, we started to see a shift in the market. Right before rates increased to 7%.  The market slowed, homes began to stay on the market longer but the average days on the market for the year was 23 days.  Homes that came on the market after July, sold but traffic and offers was certainly less, requiring sellers to be a bit more flexible with buyers. Comparing 2021 to 2022, there was 13% increase in value.   Sales Volume was down from 2021 with only 145 homes selling vs. 2021 where we had 184 closed sales, that equals a 22% decline in Sales. Portola Hills Homeowners equity position remains very strong in the New Year.  What is the Value of My Portola Hills Home Below is an overall summary for the community.   2023 is also starting off very strong.  Buyer's who missed out are still looking.  I had 11 people through my open house last weekend...