PORTOLA HILLS LIVING by Kelly Turbeville

A quick look at the new Housing Bill signed into law today! A temporary increase in mortgage revenue bonds to refinance subprime mortgages. L enders would write down qualified mortgages to 85% of the current appraised value and qualified borrowers would get a new FHA 30-year fixed mortgage at 90% of appraised value . Borrowers would have to share 50% of all future appreciation with FHA. The loan limit for this program is $550,440 nationwide. Permanent Conforming loan limit of $625,000 First-time home buyer tax credit , which allows first-time home buyers to receive a tax refund worth up to 10 percent of a home’s purchase price, up to a maximum of $7,500. The refund serves as an interest-free loan and the homeowner is required to repay it in equal installments over 15 years. New regulator for Government Sponsored Enterprises to restore investor confidence in GSE loans and help the market and economy stabilize. Temp

Did you know the city of Lake Forest has a recreation center on wheels that visits city parks each week for just some FREE plain fun. Did you catch that it is FREE ! In Portola the events take place each Wednesday from 10:00 am-12:30 pm at Concourse Park. When the Rec N' Roll group rolls into the area there will be sports activities, board games, craft projects, water fun, carnival games with prizes. Each will the group will host a different fun theme to inspire creativity and fun. July 7-10 - Fear Factor July 14-17 - Craft Craziness July 21-24 - Carnival Madness July 28-31- Parents vs. Kids Aug 4-7 Obstacle Course Fun Aug 11-14 Water World Aug 18-21 Rec ' N Roll Olymics Contact the Community Services department in Lake Forest

Portola Hills eNews New On the Market Property Details Price Comments 28474 Porsena Way 2 bed/2bath/940 sq.ft. 2 car attached garage $299,900 Investment Potential 28906 Canyon Hts. 3 bed/2 bath/1130 sq.ft. $299,999 28463 Klondike Dr . 3 bed/3 bath/1216 sq.ft. $355,000 28890 Canyon Hts 2 bed/2 bath/ 1087 sq.ft. $399,000 28751 Vista Santiago 3 bed/3 bath/1623 sq.ft. $579,000 Beautiful View 28541 Brookhill 4 bed/3 bath/2500 sq.ft. $735,000 19492 Jasper Hill 5 bed/3 bath/3200 sq.ft. $879,000 Sold Properties

Portola Hills eNews New On the Market Property Details Price Comments 19525 Arezzo 2 bed/2bath/1100 sq.ft. $324,900 19271 Echo Pass 2 bed/2 bath/100 sq.ft. $435,000 28651 Pendleton 3 bed/3bath/1500 sq.ft. $469,900 Bank Owned and a Steal 28571 Shady Ridge 4 bed/3 bath/2400 sq.ft. $734,900 19222 Red Bluff 4 bed/4 bath/3100 sq.ft. $894,000 Sold Properties 28372 Harvest View 5 bed/4 bath/3100 sq.ft. $775,000 Someone got a Deal 19651 Dorado Dr . 5 bed/4 bath/3500 sq.ft. $840,000 Market Upda

Make sure to stop in and check out this great new listing on Sunday June 8th - 1:00-4:00 pm. Contact Kelly for Details.

There are some wonderful buying opportunities currently available in Portola Hills and if you are considering making a move, you might just want to check out these four listings. Perfect Size Condo with 2 bedroom, 2 bath with a 2 car garage – Priced at $289,000 – nice starter investment property! JUST WENT INTO ESCROW! Beautiful Condo with 3 bedroom, 3 bath with a 2 car garage - Priced at $399,000 It’s a house that includes, 3 bedroom, 3 bath with a 2 car garage – Priced at $469,900 Large 3200 sq.ft, 5 bedroom, 4 bath, with Pool, Spa and a lovely view – Priced at $899,000 To schedule a showing, call Kelly! Kelly Turbeville is one of South Orange County premier Realtors® focusing in the Saddleback Valley and the communities of Lake Forest, Portola Hills, Foothill Ranch , Whether she’s helping a first time buyer accomplish the goal of homeownership, or coaching a homeowner on how to use their equity to step up into a nice home or use it to buy an investment property or fin

Wow, can you believe it, we are almost half way through 2008. What a year in the Real Estate market, there is no denying Portola Hills has been hit just like everywhere else in Orange County , but there is good news out there. Below is a quick look at the Real Estate market in Portola Hills. Current Active Properties: 41 Current Short Sales: 12 Current REO (Foreclosures): 7 Currently In Escrow: 15 Number of homes sold YTD: 23 Condo Closed Sales: Amenities: 3 bed/3 bath/1100 sq.ft Average Sold Price: $344,000 Average Price per Sq. Ft.: $307. Attached SFR Closed Sales: Amenities: 3 bed/3 bath/1550 sq.ft. Average Sold Price: $461,721 Average Price per Sq. Ft.: $2