PORTOLA HILLS LIVING by Kelly Turbeville

Maybe it is my age, but it is certainly a trend I have seen this past year with clients.  They are deciding to leave Orange County and following their family to new locations.  With over 700,000 people leaving California this is more than a trend, I fear. Have your kids or family moved out of state?  Are you considering following them so you can be close to the grandkids or perhaps you just feel it would be more affordable? Relocating to be near your grandkids is a significant decision, and there are several important factors to consider to ensure a smooth transition and a fulfilling experience for both you and your family. Here are some key considerations: Proximity to Grandkids: Determine how close you want to be to your grandkids. Consider whether you want to live in the same city, within driving distance, or even in the same neighborhood. Family Dynamics: Have open and honest discussions with your adult children and grandchildren about your relocation plans. Make sure everyone is

Did you know there are over 200 original owners here in Portola Hills.  The community was started in the late 80's so that is nearly 40+ years of equity growth for those homeowners.  Especially with the median price of the area nearing $1 million dollars.   Most of those homeowners have very low mortgages or the homes are paid off, which provides them with a wonderful opportunity to leverage their equity into other rental properties.  Perhaps the original home could become or has become their first investment property. With rising rents, right now is an excellent time to perhaps take the jump to become a landlord.   Check out these 3 Mistakes we see first time investors make in the real estate market. 1.  Not doing a cash flow analysis. 🤑 It is easy to say, oh my mortgage is this, I can rent it for that and do the math.  But it goes much deeper than that, understanding your overall cost is critical step in planning. 2.  Not working with a real estate agent. 💁‍♀️ Truth, having a R

When I decided to get my real estate license... 20 years ago, it was super important for me to help clients find a home in an area they are going to love. I can't imagine living somewhere and spending so much time in an area that I didn't enjoy. Of course, things change and moves are made. But when considering a move, I really work with my clients to ensure they feel the energy of their new community. When I look back at my why I selected Portola Hills, I realize I actually manifested this area to live. I had looked at the area about a year before I moved. After one of those lovely breakups we have, I had to find a new place to live. I remember thinking, oh I loved that Condo in Portola Hills. 6 months later, I bought that exact model, it was the first home I bought. 9 years later, I felt the need to change, but even being in the business of real estate II had questions about if that was the right time to make a move. I then walked into an open house and knew.. I found my next

Are you ready to downsize but concerned with how you can afford it?   Has the house become too large and you would love to have a single level?   Would you like to move to active retirement community and be closer to your kids?   Good news for our Portola Hills clients, is you have gained some great appreciation of the years and did you know you could use that equity to purchase a home with a Reverse Mortgage.  What a great opportunity to get settled in your forever home! Buying a home with a reverse mortgage is a unique option available to older homeowners who are 62 years of age or older. A reverse mortgage is a financial product that allows seniors to tap into their home's equity without selling the property or making monthly mortgage payments. Instead, the lender provides the homeowner with funds based on the home's value and the borrower's age, and the loan is repaid when the homeowner no longer lives in the home, typically when they sell the property or pass away. Wha

The summer heat has hit Portola Hills and that is impacting the real estate market in a couple of ways.  First the Portola Hills community continues to remain strong.  Pricing remains high, with the average price of a Single Family Home in Portola Hills is $2,013,000 in June.  The price for an attached home was $671,500.  Sellers slightly received over their list price.  Below is our full report! Portola Hills Available Homes Currently there are only 1.5 months of inventory available, which continues to drive pricing.  Especially in Portola Hills as the majority of homes available currently are New Builds in The Oaks or IronRidge.   As with the overall OC real estate market, Sellers are staying put, as they do not see a need to make a move and are loving their low interest rates.  Home buyer demand is there and buyers are getting use to the higher interest rates but affordability is starting to impact purchases.  Thus why we see less homes selling currently.  Sales volume is down 32% i

One of the reason's we love helping our clients expand their real estate assets is the tax benefits it provides to their families.  Let's be honest, no one loves paying taxes and in a day with inflation taking a portion of every dollar, having the opportunity to reduce, avoid or defer taxes is a huge benefit.  Good news owning real estate provides you a valuable opportunity to do just that!   Buying a home doesn't just provide shelter.. It is key asset to help you build financial security and help reduce your tax liability. Here are ten common tax benefits associated with owning real estate: ✨Mortgage Interest Deduction:  ✨Property Tax Deduction:  ✨Depreciation Deduction:  ✨1031 Exchange:  ✨Capital Gains Tax Exclusion: ✨Home Office Deduction: ✨Rental Loss Deduction:  ✨Tax-Free Exchange of Partnership Interests:  ✨Energy Efficiency Tax Credits:  ✨Real Estate Professional Tax Benefits: Here is a bonus one you may not be aware of,  is to eliminate/defer capital gains is throug

If you are thinking about a move, downsizing, relocating and have been searching for a home, you are probably thinking "where are all the homes for sale" isn't this time of year that we would see them? The answer to the later is yes!  May is typically the busiest month in real estate.  However with over 80% of homeowners refinancing to the low rates over the last couple of years, homeowners are in no hurry to make a move into a higher rate.  Is this you?   But life happens and buyer demand is pretty strong in most price points.  One reason... is the equity position homeowners have.  Just released over 67% of homeowners homes are either paid off or they have less than 50% remaining on their mortgage.  That means there is a ton of equity in the market!  In addition, buyers have come to terms with interest rates.  They understand they can refinance later. As we do anticipate home prices to sky rocket due to this inventory issue not being resolved and rates will come down. He