PORTOLA HILLS LIVING by 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: 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.  

I was searching for a home in Portola Hills for a potential home buyer today and wow it is certainly moving along at a fast speed this month.  Currently there are only 3 homes available for sale in Portola Hills.    On average monthly there are about 10 homes for sale.  I put together this quick market snapshot video to give you an idea of what is happening in the market.    If you are thinking about listing your Portola Hills home this spring or summer you might want to move up that move... The low inventory is providing sellers the opportunity to receive top dollar for their home.   Now of course, today's home buyers know what they are looking for, so if homes are over market price and not presented well then home sellers may run into issues.  But homes priced right, presented well and marketed are bringing in multiple offers. Ever wonder why that home hasn't sold yet as you were driving down the street? The first step in making that move is understanding

The first month of 2016 has come to a close.  I don't know about you but that was certainly fast.   Wondering if that is an indication of how fast 2016 is going to move along.  Maybe it's just age... that makes it feel like time is flying bye.   In terms of the Portola Hills Real Estate market this past month was a bit quieter than the last two years.   The reason... the number of homes on the market to sell was much less.  Inventory levels are extremely low in South Orange County and currently there are only three active properties available. Below is a snapshot of what homes sold last month in Portola Hills: Portola Hills January 2016 Homes Sold The listings at Highridge closed $11k over asking price. This is great to see as I preview properties around South Orange County I have noticed the Portola Hills area is a great value for home buyers.. but maybe a bit under market for home sellers.  The average price per square foot in the surrounding area is $3

The weather is turning a bit cooler and the holidays are in full swing with Thanksgiving behind us, so you might think home sales are probably not on everyone's radar.   That might be the case for Portola Hills... as we saw dip in the number of homes that sold this year vs. what sold in 2014.   In addition, the number of available homes is pretty low with only 6 active properties on the market currently.                                                 Portola Hills November  2015  Sold Homes In 2014 14 homes closed escrow in November, this year 8 closed escrow. Though the number of sales decreased, the average price of homes increased in Portola Hills by 17%.  Interestingly the highest priced home sold in 2015 was a Crown Pointe home, which sold for $950,000.   The highest priced home that sold November 2014 was a JM Peters home, which sold for $980,000. Portola Hills November 2014 Sold Homes Based on the rate of sales over the last 6 months, the P

Are you crazy... we have too much going on with the holidays and such to put our house on the market, plus who would be out shopping for homes anyways..? Yes.. we often hear this sentiment when we are speaking to clients who know they want to sell soon but can't imagine it would be beneficial at this time of year.    But in reality, late fall/winter is a perfect time to sell your Portola Hills home. Check out our report on 5 reasons why listing your right now may actually be the best option for you. 1.  Demand Is Serious and Strong: The buyer pool is South Orange County continues to remain high and out pace supply. These buyers are ready, willing and able to buy.. and are in the market right now! 2.  There Is Less Competition:  Housing supply is still under the historical number of 6 months supply, currently less then 3 in Orange County, which means there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for home pri

Portola Hills Sunsets We have officially entered into Fall in Portola Hills... Halloween has just passed and Thanksgiving and Christmas are just around the corner. But I have to say Fall is my favorite season in PH...  Why the weather begins to crisp up, the house is decorated cozy and I can put on a nice pot of soup or something else yummy.  It just feels "homey" time to me!!  For the real estate market, this is the time of year it starts to quiet down... Why? Well pretty much for the same reason I noted above, people tend to be connected to the home this time of year.   So how did the real estate market perform in the first month of fall 2015.   Seven homes closed escrow in the area. Take a look at the homes that sold below. Portola Hills Sold Homes October 2015 I am always asked how does this compare to 2014.   As noted, in 2014, the number of sales was one higher but the mix was much different.  Which is going to affect the average or median pricin

The Montecido complex located in the city of Lake Forest in the community of Portola Hills is a lovely townhome community that offers 2 and 3 Bedroom spacious floorplans. In addition many of the homes have good size yards with views. This is always a popular complex for condo buyers who are looking in the south eastern area of South Orange County. In terms of sales there has been 14 homes sold so far this year.  Below is a listing of the Montecido homes that have sold so far in 2015... Montecido Portola Hills 2015 YTD sales As you will note the lowest priced home was a 2 Bedroom, 2 Bath Carriage Unit which sold for $327k earlier in the year.   The highest priced home recently closed escrow at $467,500 and it was the largest model a 3 Bedroom, 3 Bath, 2 Car Garage plan. The median price per square foot is $337k, comparing this to 2014 it is up 1%. The median price for the Montecido complex was $333 in 2014 for the same time period and 17 homes sold. 

As Foothill Ranch is our neighbor and often lumped in with data and area information for Portola Hills, it is important to be aware of the real estate market trends for the overall area. This past month in Foothill Ranch 14 homes closed escrow with the Average price of $582k for 1725 square feet in 71 days. Foothill Ranch Closed Real Estate Sales August 2015 Foothill Ranch Closed Real Estate Sales August 2014 In 2014 during the same time period August, 8 homes closed escrow with the Average price of $664k for 1997 square feet in 81 days. Comparing the two years, though the number of sales are up in 2015, with the mix of what sold the average pricing for the area looks be down.  However, when you split out detached homes the average sold price was $739k, which is up about 11% from 2014. Comparing what homes sold in Foothill Ranch vs Portola Hills this past month, the price per square in foot in Portola Hills averaged $357 per square foot vs. Foothill Ranch $

Are you looking for a view home?  You will want to stop in and check out this lovely paired home in the community of Portola Hills in Lake Forest.  This is a 3 Bedroom, 2.5 bath home with over 1600 sq. ft and offers AMAZING views of the Saddleback Mountains... Open from 12:00 pm on September 5th.. Open House by Kelly Turbeville Want more information on this home or other homes located in Portola Hills... Contact Kelly  with Century 21 Award!

I wrote an article earlier in the week about the Highest Priced Homes sold Year-to-Date in Lake Forest and wanted to share with my Portola Hills peeps a bit of the details.. I pulled a pretty basic search out of the MLS, homes sold over $900k in Lake Forest.  I was actually pretty surprised by the results.. Where was Foothill Ranch?   What about the homes sold around the Lake??  All good questions if you are familiar with the area...  The biggest surprise was highest share of homes sold for over $1 million were in Baker Ranch with Portola Hills coming in 2nd. Below is a look at homes sold. Lake Forest YTD Most expensive homes sold Baker Ranch is a lovely new community.  NEW is the key!  We all love to look at new homes; when you walk in you feel refreshed, inspired, wowed, etc.  Does that feeling account for a 17% increase in the price per square foot?  Obviously as this report suggest 6 of the homes sold were in Baker Ranch.  As well, overall in Orange County we find 2

The Seranado tract in the Portola Hills community of Lake Forest is a great community of paired homes.  What's a paired home, you might ask?  A paired home is 2 single family attached homes on a lot, owned by 2 separate homeowners vs. a duplex where 1 homeowner owns the entire property.   The Serenado community is a fairly small community of 166 homes and part of the Portola Hills II homeowners association. There are 3 floorplans: Rhapsody: 3 bedroo, 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 These homes offer a wide range of amenities, depending on the floorplan, including fireplaces in the master bedrooms, open and bright structures with high ceilings. Depending on the location, many of the homes offer amazing views of either the Saddleback Mountains or Pacific Ocean with nice size yards. Serenado in Portola Hills In addition, as part of the Portola Hi

Can you believe 2014 is over?   I am still having trouble with the idea it being over, where did the time go.... In terms of real estate we did see a 16% increase in the number of homes sold.  In terms of pricing Portola Hills saw an increase of 7% overall.  Below is breakdown of the details... Portola Hills 2014 Year End Real Estate Report As we enter 2015 the overall market in South Orange County continues to be sellers market but as spring approaches both inventory and interest rates are projected to increase... which means it will become a more balanced market for the remainder of 2015.

Inventory, Inventory or should we say Lack of Inventory is the buzz word in Real Estate these days.  This is no exception in both Foothill Ranch and Portola Hills.  The market ended with very few homes on the market.  Good news... though for home sellers these homes successfully closed escrow in the first month of 2013! Have you been thinking about a move.... you will want to seriously take into consideration the low inventory.. as this is going to offer a the opportunity to receive top dollar for your home.  In addition, with interest rates projected to tick up, you have actually reached the perfect storm in Real Estate.  Top Market Price, Huge Buyer Demand, resulting in Multiple Offers and allowing you to purchase a move up property at today's low interest rates. Wondering what your home is worth....simply send us a note and we will send you over a FREE Market Report or your property and the immediate neighborhood!  It's that simple!

With the real estate inventory so low in South Orange County and especially Portola Hills, I don't imagine our new listing will be on the market long.  Reserve your showing today. Details: 2-Bedroom, 2-Bath Open Floorplan Attached Garage Perfect Sized Yard Available for showings soon.  Not in the MLS so please do not hesitate to contact us or any details.

This is the View Home you have been waiting for..... 28562 Malabar Rd, in the community of Portola Hills. Sought after floor plan with 4 Bedrooms, 3 Bathrooms, Spacious Master Suite with Large Master Bathroom.  Tiled flooring throughout the Formal Living, Dining Room, Kitchen and Family Room.  Upgraded Kitchen with Ebony Wood Cabinets and Granite Counters, opens into the family room, with fireplace and lovely built-ins. Large 8000+ square foot lot with an Entertainers Backyard, New Built-In BBQ, Fire-pit, Tranquil Water Fountain and did I mention the Views! This home won't last long!  Priced to sell at $659,000. Call Kelly to schedule your showing! Call Kelly to schedule your showing!