PORTOLA HILLS LIVING by Kelly Turbeville

Real Estate is local and that is why I like to keep these reports up to date on what is currently on the market as well as what has recently sold specific to Portola Hills. The market has changed.....It is certainly a sellers market.  The low inventory on the market and the high buyer demand is what is making this happen, but let's not forget interest rates are a 50 year low. Take a look at how July ended for Portola Hills! Current Active Properties: 4 - Yes only 4 Attached: 2  Style: 2-Bed/2-Bath Average Sq. Footage: 782 Average Listed Price:    $210k Average Days on the Market:  34 Detached: 2 Style -5 Bed/4-Bath Average Sq. Footage: 2900 Average Listed Price:  $742k Average Days on the Market:  33 Sold Properties:  Attached: Style: 2-Bed/2-Bath Average Sq. Footage: 1080 Average Sold Price:    $256k Average Days on the Market:  103 days Detached Style: 4-Bed/3-Bath Average Sq. Footage: 2536 Average Sold Price:    $608 Avera

Is it true, sellers are asking me, are home prices increasing.   The answer is yes with a question mark?  The mix of homes that sell within a given month will determine the average price.  In May there were some homes that were on the market for a very long time with 90% being distressed.  In June this changed and improved as there were a few more equity sellers, which resulted in the price per square foot for both attached homes and detached homes edging out higher. The #1 one thing driving the market right now, is the low, low inventory.  The rule of supply and demand is alive and well with Portola Hills real estate.   Low Inventory, High Buyer Demand provides Portola Hills sellers the opportunity to capture this increase in pricing.  How long will this window of opportunity be available, my crystal ball is a bit foggy with this market, however it is nice to see at the moment! Sold Properties: Attached: All signs are looking up!  Of course mix has something to do with i

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