PORTOLA HILLS LIVING by Kelly Turbeville

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 sure everyone is

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 a real estate agent. 💁‍♀️ Truth, having a R

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 property or pass away. Wha

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,  is to eliminate/defer capital gains is throug

If you are thinking about a move, downsizing, relocating and have been searching for a home, you are probably thinking "where are all the homes for sale" isn't this time of year that we would see them? The answer to the later is yes!  May is typically the busiest month in real estate.  However with over 80% of homeowners refinancing to the low rates over the last couple of years, homeowners are in no hurry to make a move into a higher rate.  Is this you?   But life happens and buyer demand is pretty strong in most price points.  One reason... is the equity position homeowners have.  Just released over 67% of homeowners homes are either paid off or they have less than 50% remaining on their mortgage.  That means there is a ton of equity in the market!  In addition, buyers have come to terms with interest rates.  They understand they can refinance later. As we do anticipate home prices to sky rocket due to this inventory issue not being resolved and rates will come down. He

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! 

 Wondering how the real estate market did the second month of 2023?  Check out our monthly real estate snapshot on what properties sold in Portola Hills along with current homes available and coming soon!  Did you check out those values!  I admit, even though I am in the real estate business these prices do surprise me sometimes.  The average price of a home in Portola Hills was $1,536,000 in February, that is up from $923,597 in 2022.  Of course, mix of homes plays a roll in this.   Overall in Orange County, home prices are being pushed up by low inventory.  Low inventory is good news for sellers, but with higher prices and higher interest rates, buyers are a bit nervous.  Sellers need to be careful in navigating today’s housing market. Homes priced according to their Fair Market Value and decent condition will procure plenty of activity and, in many cases, obtain multiple offers. But homes in poor shape with plenty of deferred maintenance, houses with an inferior location, and overp

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 and we have several qualified buyers, search

 We just took a look at the Portola Hills real estate market and how it performed in the month of October.  There certainly was a shift, but it really wasn't where you thought it was.  The shift we are seeing is in the number of transactions... not values, take a look at our market update below.  As you can see from above all these numbers are positive.  In fact, seller's still sold over list price.   Truth is... the market the last couple of years was not a normal market.  Today's market is, but we are still struggling with low inventory and new homes that are coming on the market don't curb this demand for the majority of the market because the are at starting prices above a million.  Portola Hills October Market Report Video by Realtor Kelly Turbeville   If you own a condo or townhome or your value is under let's say $900,000 there is a huge opportunity for you to still get top dollar for your home. Your home probably is not going to sell in 5 days, but it will s

What would you say if I told you pricing right now is right on track! You would probably say, pricing is crazy!  I recently attended Keller Williams Economic Recap and Forecast and a couple of details really hit me.  Because I too, even being in the business, was thinking this pricing is crazy! Then I saw this graph.  Home Prices This above graph shows the average home prices over the last 20 years has averaged about 4%. That is below the historical average of 6-8% before the downturn in 2008-2011.  Portola Hills saw appreciation of over 20% last year, so while that is great, it really was just the market making up for downturn.  Four percent appreciation is a very healthy real estate market.  Annual Home Appreciation The biggest hurdle to the market right now is inventory of homes.  There simply has not been enough building to keep up with demand since the downturn.  How we catch up is going to be a challenge certainly for the near future.  Below is a look at the inventory of homes an

 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

If I had to describe in one word how the Portola Hills real estate market performed in 2021...it would be Crazy.. AF (well technically that is 3 words abbreviated).  Below is a video recap of the details. Take a listen and for more details, you'll find the complete report below.  What is the value of my Portola Hills Home? In 2021 there were 185 sold properties in Portola Hills, pretty much split between Single Family Homes and Attached homes.  Fun fact, in 2020 93 single family homes sold and in 2021 the exact same number sold.  Interesting the value of homes both Attached and Single Family homes, grew 15% from 2020. It is important to note that this is overall, your home may have had more or less, depending on the community, conditions and recent sales specific to your home.  If you would like a report for your home specifically, please do not hesitate to request a Home Value Report here . Search Portola Hills Homes If you are considering a move in 2022, please do not hesitate to

June was a busy month in the real estate market and Portola Hills was no exception;  Just in time, before we see the market begin to shift with summer distractions no less.  Ready for this figure, homeowners who sold in June, received an over $700,000 in extra profit.   That is amount of money they received over the list price.  Unfortunately not all seller's had these results, surprisingly there were sellers who sold below market value as well.  Below is a snapshot of the how the Portola Hills real estate market finished in June.   If the home was priced right, presented well and available to see, most homeowners should have received multiple offers.  However, we did see in June a few homes sell below market and/or reduce pricing.  With the low inventory and high buyer demand this makes me wonder how strong the negotiations were.  In this market it is critical to work with an agent who's strength is in negotiations and will ensure your best interest are being looked after.  B

 We just listed a steal in Foothill Ranch and with only two single family homes on the market in Foothill Ranch, we don't anticipate it being available for long.  Plus it is just lovely.  Check out the details. Love to Entertain? You are going to love this Pool Home! You'll be ready to dive in, just in time for summer! This home shows pride of ownership with 4 Bedrooms, 2.5 Baths, lovely Tumbled Tile and Wood Flooring with Plantation Shutters throughout. Updated Kitchen with newer Maple Cabinets, Granite Counters and updated newer Appliances. Open to an expansive family room with fireplace and built-in buffet and wine refrigerator. Beautiful windows and bay seating makes this space light and bright and provides an indoor-outdoor California living experience overlooking the rear yard. On your way up the stairs you'll note a beautiful updated custom iron stair railing, leading you to the 4 Bedrooms on the upper level. A massive primary en-suite, you are going to love the addi

The real estate market overall in January is generally very, very quiet!  Not this year!  In Orange County there has been an insatiable demand from buyers and  record-low supply of homes available to purchase, which makes the OC real estate market extremely hot!! Portola Hills was no exception in January! Actually the area remains very popular with the buyers coming up the hill to check out the new developments in IronRidge and the Oaks.  Take a quick peek at the numbers below along with what communities in the Portola Hills were the hottest, it might surprise you. If you are thinking of a move, seller's will need to be cautious on pricing their home correctly.  Though it is a very strong seller's market, homes that are priced above market will sit.  A strong pricing strategy done correctly can bring you more then you expect.  As well in this hot market, other factors such as contingencies, rent backs, etc. all part of the negotiations package that we can put in your favor.  Ma

Ever get the itch to do a DIY project? Whenever we do, our favorites involve getting outdoors and mixing up our landscaping features. Whether it's as simple as installing some lighting or a little more time-consuming like re-plotting plants, a fresh look for the lawn always gives your home a fresh look as well. Here are our top five easy landscaping projects! Create a pathway. To guide you and visitors throughout your yard and link different areas together, install a pathway. You can use materials from a variety of materials, including reclaimed pallet wood, flagstones, gravel, and more to add texture and color. Add a wall or border. Installing a flagstone, rock, or brick wall around flower beds or trees adds a sleek, clean look to your landscaping and helps separate different sections of your yard. Install a water feature. Nothing says zen quite like the sound of trickling water as you relax in your backyard. You can start simple with by purchasing and installing a small feature p

 It is always exciting to have a contest in our local marketplace of Portola Hills. We find the community really enjoys them and it is an excellent way to get to know our neighbors.  Our Holiday Cash giveaway is always my favorite!  This year especially as we had to delay our Halloween/Fall decorating contest due to the recent Bond fire.  We had a great turnout and it was very exciting to deliver some holiday cash to our clients and community. GPS real estate group holiday cash winners We want to thank everyone who entered our contest and most importantly enjoy it.  We look at is a fun activity for the community and in 2020, I think we could all use a lot more fun!  Search Portola Hills Homes Watch for our next contest coming the spring 2021.  

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.

Wow, October was a crazy month for our community!  Unfortunately the community had a slight scare with the Silverado Fire as it inched closer to Portola Hills and through part of Whiting Ranch.  The good news is the OCFA kept us safe with no homes near the fire, the community was evacuated as a precaution. Through it all, real estate continued to remain strong with 13 homes selling during the month of October.  The highest price home that sold in the community was $1,400,000 in the IronRidge community.   The lowest price home was $450,000 in the Canyon View community.  The average price of a home that sold in Portola Hills was $764,551.  Check out the details below.  What is the value of my Portola Hills Home? The overall real estate market in Orange County remains very strong this fall. Low inventory and high buyer demand continues to drive up pricing.  As we approach the holidays, inventory will remain low.  This is also driving buyers to new homes, which in Portola Hills has spurre

The Portola Hills community in Lake Forest has seen a huge change on the real estate landscape with the addition of several new home communities. The Oaks and Iron Ridge are in full sales, with The Oaks beginning to sale in late 2017 and the Iron Ridge early 2018.   These new additions are selling well.  The Oaks would be considered luxury properties with the square footage ranging from 2600 square feet to over 5200.  Comprised of seven distinct neighborhoods, all within a private gated community featuring tree-lined streets and premium views, outdoor recreational spaces within our community including a Central Neighborhood Park and Swim Club, a large 5-acre public park with recreation and sports fields and three neighborhood parks.  Iron Ridge , the newest community is comprised of six distinct neighborhoods, ranging from Townhomes to large Single Family, ranging in size from 1100 square feet to over 3800 square feet. Each residence offers superb craftsmanship and spacious e