PORTOLA HILLS LIVING by Kelly Turbeville

 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 ...

 Looking for some fun things to do this weekend away from Portola Hills.  We put together a list of events in South Orange County...Not too far from home! Search Available Homes in Portola Hills Are you Irish... Do you celebrate the holiday, cook corn beef, make soda bread, drink green beer? With a bit of Irish heritage we celebrated the holiday.  My Mother made the best Corn Beef, if I say so (IMO). Here is a bit of History about St. Patrick's Day   Enjoy the celebrations but be safe!  

Don't you love after it rains when you see a rainbow... If you have ever driven up the hill to Portola Hills you often see one.   I just got done looking at the numbers for how the real estate market did in Portola Hills in the month and February and it remained very strong, add a bit more equity to homeowners in the community.  While the number of transactions were down from 2023 to today,  5 in 2023 - 3 sales in 2024,  values were up over $1.5 million.  Take a look below at the our Portola Hills February Market Report!  WHAT IS MY PORTOLA HILLS HOME VALUE  Low inventory continues to drive the market, but different from the last few years in Portola Hills, there currently are not any new homes for sale.  That means, home sellers have the opportunity to capture all those price gains for yourself. The Oaks at Portola Hills, has advised they will start building again but those homes would most likely not be available until end of 2024 early 20...

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...

 I just took a look at the market stats for the first month of 2024 and WOW, homes values increased double digits in January.   Take a look at my full report below!  Do you see that percentage home values increase in the first month of the year!  21%!! The average price of a single family home in January 2023 was $1,286,539 vs. today at $1,629,858.    In January 24 the highest price home sold for $1,939,000 and the lowest price home was $599,000. Right now there are 7 active homes available in Portola Hills.   If you are considering a move, make sure to check out my video on the Truth of when is the best time to list your home!     Don't hesitate to reach out to me direct to review how we can help you achieve top dollar for your Portola Hills home!  Check out my full video market recap below!  If you are considering buying a home in Portola Hills, make sure to get a copy of our Portola Hills Home Buying Guide!  ...

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 ...

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...

Have you been to BRU lately in Lake Forest?  I popped in after some Christmas shopping and was so happy to see it filled with happy customers, celebrating the season.  BRU is one the only restaurants in Lake Forest that offers a place for a great meal, cocktail and ambiance! The new Beer Garden addition to the corner of El Toro and Rockfield is going to really brighten up that corner in Lake Forest.  If you haven't been to BRU,  we thought we would share a bit of what we like about it!  From the moment you step through the door, it's evident that BRU is more than just a place to dine; it's an experience to be enjoyed.  Matt and the team take pride in its diverse menu that caters to every palate. Whether you're a fan of classic American comfort food or crave a more adventurous culinary journey, BRU has you covered. From their mouthwatering burgers to their wild caught seafood, every dish is a work of art.  Beyond a lovely meal, BRU Restaurant offers a w...

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...

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...

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,...

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 re...

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 mainten...

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...

 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 goin...