PORTOLA HILLS LIVING by Kelly Turbeville

Can you believe it is the 1st of October already!!  The air is cooling, well maybe the night air, the kids are back in school and homes are getting set for the holidays.  Traditionally September is a quiet month for real estate as most people want to get settled before the school year begins.  This year was no exception which is a little of a surprise as the inventory in south orange country remains very low.   Below is snapshot of the last 24 hours. 1185 homes came on the market between new listings and homes that fell out of escrow.  Yet 2508 homes went off the market. Demand for homes is far out reaching supply. Below is a snapshot of the real estate transactions for Orange County It's quiet here in Portola, only 5 homes sold in September.  Below is a breakdown of what closed escrow.   The sellers market is still very strong!  Though more inventory has come on the market the buyer demand is much stronger.   If you are considering a move, let's grab a cup

Wondering what  is selling in Portola Hills.   Below is a listing of all homes that sold in June along with two that has closed escrow in this first week of July. Three homes sold over asking pricing at an average of about 5% over asking. The average sales price in June 2012 was $347k with 7 homes sold. Average sale price in June 2013 is $542k with 10 homes sold.  Of course the important factor here is mix of homes that sold, but it does give you an idea of the increase in home values we are seeing due to the low inventory.   Though inventory has increased it is still far below buyer demand.  If you  are considering a move, now is the time especially with the anticipation  of higher interest rates in the last half of 2013. If you are looking for a detailed report on your home value, don't hesitate to contact Kelly direct.

Buying a home is a hot topic once again and a happy one at that.  Which is great to hear after a few depressing years.   Though there are hurdles to over come, the one thing that has not changed for Home Buyers is the fact that is is a very important aspect of life that brings a number of benefits to your life.   Are you sitting on the fence of homeowner ship, here are few little reminders of what owning a home brings to you! 1.   Tax Breaks :    Currently the U.S. Tax Code allows you to deduct the interest you pay on your mortgage, your property taxes and some of the cost involved in buying your home.  2.   Appreciation :  Yes we can say that word again....  Real Estate has long-term, stable growth in value. Even with the last few years decline, National Association of Realtors (R) estimates home sale prices increased 88.5% over the last 10 years. Over the next decade it is expected to rise 15% due to the high demand for housing. 3.   Equity:   Money paid for rent is

As we enter summer in Portola Hills, all signs for the real estate market are hot, hot, hot!  Low inventory, high buyer demand are the key factors keeping this market hot!! Typically this time of year we see an increase in listing activity but all over Orange County the number of new listings is down.  Overall the economy is improving, prices are up but some homeowners are still siting on the fence...  Maybe waiting for price increases, maybe repairing credit after taking hit, the answers are in the hands of homeowners, but one thing is certain those who have decided to sell are receiving top dollars for their home. If you are considering a move and looking to move up into that dream home then you will want to keep in mind with the continued low interest rates and high buyer demand you truly have entered the perfect storm to sell and buy your next home. Portola Hills April-May 2013 Closed Sales   In April and through today, 9 homes have sold in Portola Hills.  On the snapshot

It is spring time the home buying season has begun or has it... Here in South Orange County the inventory is extremely low and home buyers are searching and searching for homes to no avail. Below is a graph for the last 12 months that shows Inventory Levels vs. Sales Price for the area of Lake Forest . As you will note home inventory has dramatically dropped, which results in an increase in the sale prices, good news for homeowners who are considering a move. I do see a slight issue with some homes sitting on the market for no other reason then being incorrectly priced.    If your home is priced right it will move into escrow pretty quickly.  If a home has not gone into escrow within 30 days, with multiple offers, pricing is probably the main issue.   Today's home buyer is savvy and understand the inventory levels but they also are still very price conscience!  By not pricing your home accurately, in the long run you are hurting your chances to get the best price

We wish Everyone a day filled with Blessings! Portola Hills Sunset View

The weather is warming up, the days are getting longer and you might even been feeling a bit of spring fever... That is the universes way of telling you it is time venture down the hill and get out and enjoy what Orange County has to offer in march. March 2013 Events: March 2-3 & 9-10:      Dana Point Festival of Whales  - Dana Point March 9-30:                 Irvine Park Easter Eggstravaganza  - Irvine March 9:                      Astronomy Night -Silverado Canyon March 9-10:                Kite Party - Huntington Beach March 11:                   El Presidente Bal l - San Juan Capistrano March 16-17:             Civil War Re-enactment - Anaheim March 17:                   St. Patrick's Day Dash - Irvine March 17:                   St. Patrick's Day Celebration & Green Festival  - Costa Mesa March 20:                   Swallows Day Fiesta Grande  - San Juan Capistrano March 23:                   Swallows Day Parade & Mercado  - San Juan Cap