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Portola Hills, California Market Update

Portola Hills eNews! Week Ending 3/16/07

New On The Market

Amenities

Price

28374 Klondike Dr.

2 bed/2 bath/1015 sq. ft.

$410,000

19012 Canyon Summit

3 bed/2 bath/1144 sq.ft.

$412,500

28338 Pueblo Dr.

2 bed/2 bath/1015 sq.ft.

$419,000

28544 Sorano Cove

3 bed/2.5 bath/1205 sq.ft.

$475,900

28415 Pueblo Dr.

3 bed/2.75 bath/1255 sq.ft.

$509,000

28492 Oakview Dr.

3 bed/2.5 bath/1478 sq.ft

$528,900

19222 Willowbrook

3 bed/2.5 bath/ 1985 sq.ft.

$749,000

28671 Cedar Ridge Dr.

3 bed/2.5 bath/2050 sq.ft.

$849,000

Sold Properties

28495 Klondike Dr.

2 bed/2.5 bath/1152 sq.ft.

$400,000

Please do not hesitate to give us a call if you would like any information on the above.

Open House: 28861 Woodspring Cir. Portola Hills. Make sure to stop in and see this great paired home in Portola Hills. We'll be open Sat/Sun 12-4 This home is priced to sell with a great private yard perfect for little ones.

Mortgage Meltdown, Mortgage Meltdown, BREATH! Yes, it is all over the media and though the crystal ball might be a little foggy, Kelly wants to remind residents that we live in pretty special place and keep this in mind as you hear these dire headlines. Orange County shouldn't be compared to the rest of the country. Here's why:

  • Today 30% of OC households earn in an excess of $100,000 - up 32% since 1999!
  • Since 1999, households earning $200,000 are up 50.2% and now total 67k
  • OC has one of the highest median incomes in the us at $65k
  • Newport Beach ranks #1 median incomes in the US and are you ready Mission Viejo is #2 at $91k
  • 11% of households in OC have a net worth exceeding $1,000,000.
  • OC ranks #3 in the U.S. with 113k millionaires
  • In OC 14% of our market is 2nd homes and income properties and 22% of our homes have no loans!
  • OC has the lowest unemployment rate in CA at 3.2%
  • OC ranks #7 in creating new jobs and #5 in the US in total number of jobs.
  • OC has the lowest housing ratio to jobs in the nation
  • OC ranks #5 in the nation in rental rates and has a 97% occupancy rate
  • Southern California is 200k-300k residents each year and ranks #6 in the US for metro area
  • OC foreclosures represented .05% of all sales with lenders selling those homes at an average discount of only 3.8%

I hope the above data, provides with a clear picture of where we are at in OC. Though the market is changing we are in pretty good shape as a whole. Should you be questioning the market and would like to discuss your options, please do not hesitate to give me a call to help you strategize on your next move.

Check out Kelly's Blog

Make sure to check out www.activerain.com/kturbe to review some interesting Real Estate blogs, our new area profile and just plain fun stuff!

Blessings,

Posted Friday Mar 16

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