PORTOLA HILLS LIVING by Kelly Turbeville

 The Portola Hills real estate market was hot, hot, hot and we aren't talking about the weather. Sales Prices and Sales Volume were both up from the same time last year. With record breaking pricing in the Montecido community.  The highest price sold for a 3 bedroom, 1300+ townhome in the Montecido community was sold for $622,000.  When home buyers come up the hill to preview townhomes in the Ironridge community the Montecido community offers a great value, which in turn is driving up pricing of this community.  As well, inventory is very low throughout South Orange County. Below is a look at how the Month of August performed in Portola Hills. Search Portola Hills Homes If you are thinking of making a move, this is the market you have been waiting for!  Interest rates are hovering between 2-3%, which provides you the ability to purchase your move up property for less.   Please don't hesitate to give Kelly Turbeville a call to review if now is the right time for you to make a mo

It's time for our Annual Portola Hills Food Drive supporting South County Outreach.  Each the year the team at GPS real estate group holds this event to provide food to those most in need. This year with the pandemic the need is extremely high.   It is pretty simple to participate, simple text us that you would like to participate, put your food out on the pick up date 8/22 and we will swing by and pick it up from you. In 2019 we picked up over 700 lbs of food from the community, which was greatly appreciated by South County Outreach .  Our goal this year is a 1000 lbs, so we need your help! South County Outreach's vision is to End Hunger & House Hope in Orange County. How do we do that? Through our programs, like our Food Pantry, which is the largest pantry in South Orange County, and our Transitional Housing Program, which helps homeless families get back on their feet with the tools and counseling they need to succeed. It’s a big job, but we’re not alone. We believe that

Who says people don't buy homes during a pandemic?  Looking at the real estate market this past July for the Portola Hills community, sales volume increased 38% from the same time period in 2019, buyer demand is extremely strong! Though there are concerns with unemployment, the rest of the market is pretty strong in the OC.  My interruption from working with clients is, all this time at home is highlighting what doesn't work in their current home. That, along with the low interest rates,  strong equity position, sellers are looking to sell and move up to their dream home.  Also, those who rent see that with the low interest rates it is literally cheaper to buy right now! Finally home represents security and I think we all are looking for a bit more of that in our lives these days.... would you agree? Below is a quick snapshot of how the real estate market preformed in July: What's my Portola Hills Home Value With interest rates hovering below 3% this has become the real est

We took a quick look at what is happening in the Portola Hills real estate market so far in the month of June.  Typically as we enter June, the real estate market starts to slow down; people are focused on finishing school and making vacation plans.  But with COVID-19 and people being home for the last three months, we are seeing the real estate market pick up! Below is snapshot of real estate activity in Portola Hills since June 1st. As you can see in Portola Hills there are.  5 New Listings 8 Homes went Under Contract 2 Homes Sold 2 Coming Soon What is important to note, here is the number of homes moving into escrow and closing as it is greater then the number of new homes coming on the market. This is important as it reflects, buyer demand!  Demand is strong across the county.  But especially for homes priced under $700,000.  Low Interest Rates + High Buyer Demand + Low Inventory, makes it the ideal time to be a move up buyer.  Feeling cramped in your home, since the stay at home o

We are in about our 7th week of quarantine in Orange County and if you are anything like me, I am sure you are getting restless.  We just really hope no one in the community has been too affected by this virus either with their health or financially.  We get many questions asking how the real estate market is performing during this time? The good news is, it is hanging in there.  This is not like 2008!  The current inventory levels are extremely low compared to what we saw during the last recession.  The biggest impact to the real estate market is going to be unemployment, but pleasantly the numbers and activity in Portola Hills remained strong in April, as you can see below!  Looking at the above numbers you can see the strength of the market in two indicators.  First the list to sale price ratio. Seller's received over 100% of what they were requesting when they listed their home. Actually the received over! Most likely from multiple offers. The second indicator is the months o

Wanted to give residents a quick update on what is happening in the Portola Hills real estate market since COVID19 landed on Orange Counties lovely doorstep.  The Portola Hills real estate market started 2020 in a very strong Sellers Market.  With Inventory low and demand high!  Low interest rates were bringing winter buyers out early. Below is a look at the how the real estate market in Portola Hills is doing currently. Year to Date Sales: 25 Homes Sales Average Specs: 3 Bedroom/ 3 Bath / 2018 sq.ft.  Average Price: $789,158 Days on the Market: 34 Home Values up 20% from the same time period in 2019 Currently there are 20 active homes on the market, with 13 of those being new builds in IronRidge and The Oaks.  There are also 5 homes in Hold status.  The directive from the California Association of Realtors, is Realtors are not allowed to hold open houses or do any face to face showings until the stay is lifted. We are working to get further clarification if we

The Portola Hills community has a variety of condominium and townhome  communities, ranging in price from about $400,000 - $575,000, these include Montecido, Bell Palermo and Canyon View.  In addition, in 2019 two new communities came to the community in the Ironridge community, Copperleaf  and SilverOak  that are priced from $600,000-$750,000.  Looking at what sold in 2019, this segment of the market in Portola Hills was strong,  but looking at pricing it trailed what is happening in other cities in the valley.  Below is a comparison of what homes sold for in the Portola Hills, Foothill Ranch and Rancho Santa Margarita and overall values. Community:           Style:                  Sq.Ft.           Price :            Days on the Market Portola Hills        2Bed/2Bath          1063          $443,589              54 Foothill Ranch    2Bed/2.25Bath     1124           $471,352              51 RSM                   2Bed/2.35Bath     1192           $479,822              55