PORTOLA HILLS LIVING by Kelly Turbeville

August was a quiet month for closed sales in Portola Hills, but there is a little more happening beneath the surface than the sales numbers suggest. Only three homes closed escrow during August , and those three sold quickly, averaging just six days on the market . At first glance, that might make you think homes are flying off the market. They’re not. The homes currently available for sale have been sitting for an average of 57 days , while the homes currently in escrow averaged 77 days on the market before finding a buyer. That tells us something much more interesting about the Portola Hills market.  Buyers Are Making Decisions In my last market report, we were watching 37 homes available for sale in Portola Hills. Since then, 17 of those homes have gone into escrow. That is nearly half of the inventory we were watching. So while closed sales were quiet in August, buyers were out shopping. But they weren’t rushing. And that distinction matters, because for the past several yea...

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...

We bet you're happy 2020 is behind us!  What a crazy year, is all we can say!  We hope that you and your families were not impacted to harshly by it.  We took a look at how 2020 impacted the Portola Hills Market and all we can say is, who would have thunk (yes thunk) the real estate market would have been so strong!  I guess all that time at home, sparked buyers ideas that it is now time to move!  Did you make a move, or think you would like to? Below is a snapshot of how the Portola Hills Real Estate market performed for the the entire year!   What is the value of my Portola Hills Home? Overall the Portola Hills real estate market was very strong with 18% in sales volume from 2019, with 172 homes sold in 2020.   The most expensive home sold in the community was for $1.8 million in The Oaks and the least expensive was $335,000 in the Canyon View community.   Home values were up in both single-family and attached homes, but we have t...