PORTOLA HILLS LIVING by Kelly Turbeville

It's Summer!   Below is a quick snapshot of some fun events surrounding Portola Hills.   Born Free Biker Show at Oak Canyon Ranch in Santiago Canyon Blues Festival at Irvine Lake Laguna Beach Sawdust Festival Lake Forest 4th of July Parade Mission Viejo 4th of Jully Street Faire Get out and enjoy!!

Wondering how the Portola Hills Real Estate Market is doing?  Is it true, a sellers market is upon us?  Check out the #'s. Sold Properties: Attached: 5 Style:                                      2 bedroom / 2 bath Avg. Sq. Footage:                   1287 sq.ft. Avg. Sold Price:                      $227,780 Days on the Market:                248 (Note: finally a home sold after being on the market 471 days) Detached:  2 Style:                                      3 bedroom / 3 bath Avg. Sq. Footage:                   1475 sq. ft. Avg. Sold Price:                      $410,000 Days on the Market:                45 days Currently there are 11 active properties on the market.  4 attached properties and 7 single family homes. This averages out to be about a month in half of inventory currently active. A sellers market is generally less then 3 months of inventory on the market.   The rules of supply demand prevail.   It's a seller's market in Portola Hills.

This has been a common question I have been receiving lately from Home Buyers.... Where are all the Portola Hills homes for sale?  That's right inventory is VERY low.  However, as I was searching for a home for a buyer, I did find a little interesting tidbit, 5 Portola Hills homes currently active are listed in the wrong city. Now you might be thinking that is not a big deal, but put yourself in a home buyers seat, who is searching online at 9pm at night.... Buyers search by two main things.... Price and Location. They then drill down to neighborhoods and details such as school.   Buyers searching for homes in Portola Hills and are not going to find these properties.  So as a Home Seller you are missing out. Portola Hills Ariel View Interesting these 5 listings are all listed by out of the area real estate agents and have been on the market longer than any listing that is correctly listed on the market.  In addition there were 3 sold listings listed in the wrong city.  Wha

Wow, wow, wow, the Portola Hills Real Estate Market took a turn in April and it was a good one.  What happened..... What happened.... you might be wondering...   12 homes closed escrow!! Bigger news there are only 7 homes available to purchase in Portola Hils right now! Check out the numbers: Active Listings: 7 Attached: 2 homes Listed: Amenities: 2 Bedroom, 2 Car Garage Average Sq. Footage: 1096 Average Price: $292,450 Days on the Market 71 Distressed factor: 50% Detached: 5 homes Listed: Amenities: 5 Bedroom, 3 Car Garage Average Sq. Footage: 2667 Average Price: $617,700 Days on the Market 200 Distressed factor: 60% Sold Properties: 12 Attached: 11 homes Listed: Amenities: 2 Bedroom, 1 Car Garage Average Sq. Footage: 1166 Average Price: $260,950 Days on the Market 50 Distressed factor: 99% Detached: 1 homes Listed: Amenities: 5 Bedroom, 2 Car Garage Average Sq. Footage: 2400 Average Price: $534,000 Days on the Market 0 Distressed factor: 0% So

Spring has sprung in the Saddleback Valley and the home buying season is jumping into full gear.  But there is a slight problem, where are all the homes?  As I type this Portola Hills only has 10 active listings and out of those listings only 1 condo..   That is less than 1 month of supply.  Generally speaking less than 3 months of inventory means it is a sellers market!! Seller's market really? March was pretty busy for sales in the area, especially on Condo's.    We all know with the low prices, low interest rates, first time buyers have a huge opportunity to buy now.   Which is about 25% of the buyers entering the market. However, those buyers are generally utilizing FHA financing, so they can put down 3.5%.  That is where the problem for some, but an opportunity for Portola Hills homeowners lies .   There is a severe shortage of FHA approved condo complexes in South Orange County, in Trabuco Canyon there are 3 and you guessed it, one is in Portola Hills and that is

So have you heard.... the City of Lake Forest is considering 3 new housing developments in Foothill Ranch. These are in addition to the already 4100 homes approved by the city that include Portola Center  in Portola Hills and the Baker/Shea development off of Bake/Alton. Below are the details of the planned new developments: 700 Apartments to be located on the former El Toro Sand/Gravel Mining Company near the 241 and Rancho/Portola Parkway. 151 Condominiums located and 75 single-family "motor-court" located at the auto dealership off of Portola Parkway. As noted above, these new developments are in addition to the 930 homes scheduled to be built in Portola Hills and the 2379 homes scheduled to be built off of Bake/Alton. Being in real estate, new developments are generally good for property values and I know the small businesses located in the area could use more foot traffic.  However, being a resident of the this area, I must say the amount of traffic does co

Wondering how the first month of 2012 ended for the Portola Hills Real Estate Market, here you go!  One of the biggest indicators for my personal business was the fact that my phone was consistently ringing.  Customers are looking for rentals, first time buyers getting into the market and moving up buyers looking to move to the area and the buying season hasn't taken a hold yet.  Good sign?..... hope so! Portola Hills Jan.2011 Real Estate Recap: Sold Properties - 4 Attached/Condo's              2 Description:                        2-Bedroom/2-Bath,  Average Sq.Footage:         1126 Sold Price:                         $227,000 - $202 price per sq.ft. List to Sale Price Ratio:      99% Days on the Market:           70 Distressed Factor:              50% Single Family Residences    2 Description:                        5-Bedroom/3-Bath,  Average Sq.Footage:         3450 Sold Price:                         $830k - $240 price per sq.ft. List to Sale Price Rat