PORTOLA HILLS LIVING by Kelly Turbeville

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...

  🏡 Portola Hills Market Update | More Choices. More Strategy. If you've been watching the Portola Hills market, you've probably noticed more homes for sale. There are currently 32 active listings , but here's the story behind the numbers... 🏠 For Sellers: The resale single-family market remains relatively balanced. Much of the inventory increase is coming from new construction in The Oaks and attached homes , so don't assume your home is competing with all 32 listings. Pricing and positioning still matter. 🏗️ For New Home Buyers: Builders have multiple homes available, which often means more flexibility, incentives, and opportunities than we've seen in recent months. It's worth taking another look. 🔑 For Condo & Townhome Buyers: This may be one of the best opportunities we've had in a while. Inventory has improved, giving buyers more choices and less pressure than during the frenzy of the past few years. Search Portola Hills Homes ☀️ One ...

 T here’s a moment in every real estate market when buyers look back and say: “I should have bought when prices were still in the low $500s.” In much of South Orange County… that moment is disappearing quickly. Welcome to   28873 Canyon Point   in the highly sought-after community of Portola Hills. Currently listed at   $525,000 , this home is priced well below the current neighborhood average SOLD PRICE of approximately   $583,000 .  And frankly… finding anything in South OC at this price point with this location, lifestyle, and extra usable space is becoming rare. Like “gas under $3” rare. More Than Just a Condo This isn’t your standard cookie-cutter floorplan. The home features: A versatile loft space perfect for: a home office guest area workout space creative studio or second living area Attached garage Open layout with natural light Functional living space for first-time buyers, singles, couples, or investors That extra loft space matters more than ev...

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 so...