Sunday, September 4, 2016


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"Luxury Real Estate is defined as real property that has an appraised value of over
$1,000,000 in the United States."

"This varies greatly depending on the location. The classification also takes into account 
the presence of surrounding homes, amenities, views, waterfronts, absence of
crime-rate, industrialization or unwanted commercialization, customization of the home, 
and historical or architectural significance.

"A mansion is a large and stately dwelling."

"The word mansion derives through Old French from the Latin word mansio "dwelling", an abstract noun derived from the verb manere "to dwell". The English word "manse" originally defined a property large enough for the parish priest to maintain himself, but a mansion is no longer self-sustaining in this way.  'Manor' comes from the same root—territorial holdings granted to a lord who would remain there—hence it is easy to see how the word 'Mansion' came to have its meaning.

"Windsor Castle located in Berkshire, England is the largest mansion in the world with around 484,000 sq.ft.



Today's Top Three Mansions Just Listed

#1      1520 Gilcrest Drive, Beverly Hills, CA 90210 with 6 bedrooms, 10 baths, and 15,000 sq.ft. is listed for sale at $48,000,000.
1520-gilcrest-beverly-hills
On the promontory overlooking the Trousdale Estates and high above the famed Sunset Strip with views from downtown Los Angeles and the snow-capped mountains beyond, to the Getty Center, Santa Monica, Catalina Island, and the Pacific Ocean, is 1520 Gilcrest Drive.
Originally owned by famed violinist Jascha Heifetz, who in 1948 commissioned his friend, Lloyd Wright, to build his iconic recording studio (Lloyd Wright Archives: Heifetz, Jascha – Studio Gilcrest Dr., Los Angeles 1946 Project No. 177, 1951 Project No. 206) on what now sits the baja shelf of the 210 foot zero edge infinity pool. Purchased after his death by actor James Woods, James donated the music studio, which was reconstructed piece by piece inside the Colburn School in Downtown Los Angeles in 1998. James then had his architect build a steel framed pavilion on the envelope of what was the recording studio.
The craftsman style home, measuring approximately 5000 square feet on over one acre of lush grounds, presented an opportunity to create what is now a state-of-the-art modern barn. Using design inspiration more of a high end fashion line and concepts adapted from examples like the James Perse Malibu boutique and award winning designer Jenni Kayne’s Beverly Hills Architectural Digest cover home, the new construction home is sleek and streamlined, minimalist but rich in materials creating warmth, elegance and luxuriousness.

1520-gilcrest-beverly-hills
1520-gilcrest-beverly-hills
1520-gilcrest-beverly-hills
1520-gilcrest-beverly-hills
1520-gilcrest-beverly-hills
1520-gilcrest-beverly-hills


#2     II Palmetto, South Ocean Beach Boulevard, Palm Beach, Florida 33480 with 10 bedrooms, 25 baths and 60,532 sq.ft. is listed for sale at $137,000,000.


When architect Maurice Fatio was commissioned to build ‘Il Palmetto’ in 1930, the 5.46± acre Ocean-to-Lake estate was immediately declared one of his most exceptional. Years later, Fairfax and Sammons oversaw a four-year meticulous restoration of the Italian Renaissance-style palazzo, clarifying Il Palmetto’s architectural vocabulary while maintaining its historic style. The result is an estate without peer in all of Palm Beach.

The 60,352-sq.ft. main residence is designed as a series of pavilions connected by cloisters, beginning with the two-story entrance hall. The pièce de résistance is the 50-ft. living room with architecturally-framed sunset views over Lake Worth. Equally resplendent, the formal dining room accommodates the most elegant of dinner parties in the Palm Beach tradition. The kitchen, family room, theater, billiards room, library, office and pavilion circle the lily pool courtyard to complete main level. The master and principal bedroom suites are located on the second level. The 20,000-bottle wine cellar, exercise room and spa are on the ground level. The main house also features two elevators, swimming pool and staff quarters. The interiors have a unique lightness and ensure that hurricane-preparedness construction and modern-day technological systems remain hidden yet controllable via smart phone.

At the base of the launching pier is a sophisticated boat house with a two-bedroom home above. A private underground tunnel leads to the two-bedroom beach house, newly constructed with an infinity-edge swimming pool blending seamlessly into the turquoise waters of the Atlantic. Outside, formal gardens and terraced lawns mirror a sand dune, gradually descending to the water. Beautiful fountains, coquina walkways and a secret koi pond add to the estate’s park-like calm.










#3       6106 Camino De La Costa, La Jolla, CA 92037 with 4 bedrooms, 4 baths, and 6,163 sq.ft. is listed for sale at $13,850,000.

6106 Camino De La Costa, La Jolla, CA 92037

Drop Dead,Crystal Clear Ocean Views from this magnificent Oceanfront Compound! Property has recently completed a drastic upgrade! Brand New Kitchen and great room, including moving structural Walls to open the panoramic views. Seamless glass railings, new windows and doors, a completely overhauled bonus room can be either a gym or game room. Expansive landscape and hardscape adds to the glamorous feel, Soaring Ceilings, top of the line finishes and it's proximity to the water could never be duplicated

6106 Camino De La Costa, La Jolla, CA 92037

6106 Camino De La Costa, La Jolla, CA 92037

6106 Camino De La Costa, La Jolla, CA 92037

6106 Camino De La Costa, La Jolla, CA 92037

6106 Camino De La Costa, La Jolla, CA 92037

6106 Camino De La Costa, La Jolla, CA 92037

6106 Camino De La Costa, La Jolla, CA 92037

6106 Camino De La Costa, La Jolla, CA 92037

6106 Camino De La Costa, La Jolla, CA 92037

Today's Top Real Estate News 
How Selling a Home in Winter Works to an Investor's Advantage

By Jeff Brown, US News

Park City ski in ski out homes
When it comes to buying or selling a home, conventional wisdom dictates that winter is lousy timing. You can't show or see a home at its best when the weather is crummy.
Sellers face a shortage of buyers, and buyers find there aren't enough homes to choose from. Considering that a home is a big piece of your investment portfolio, one would think it's a difficult season to enter the real estate market.
Except that isn't necessarily so.
If a job change or new baby forces you into the real estate market in winter, or that's when the itch to move happens to strike, you may find that conditions aren't as bad as you'd thought -- and there might even be an upside.
Serious buyers, motivated sellers. "There are many benefits to keeping your home on the market during this perceived downtime," says Rhonda Duffy of Duffy Realty of Atlanta. Among the most important, she says, is a fact that distinguishes real estate from almost all other markets: "It only takes one interested buyer, and you might miss the opportunity if you pull the listing during this time of year."
Buyers, too, can benefit from house hunting in winter, when the pace tends to be less frenzied than in spring. It's easier in winter to assess the quality of insulation and heating, or to tell if the basement gets wet or if the home doesn't get enough light. And, of course, the buyer could well find the perfect home in winter even if there are fewer homes on the market.
"With the decrease in competition during the winter, buyers are less likely to end up in a bidding war," says Sharon Voss, president of the Orlando Regional Realtor Association in Florida.
A buyer can benefit from a winter search because it's likely that the seller is eager, says Debbie DiMaggio, a Realtor and author in Piedmont, California. "Typically, when homes are listed between Thanksgiving and the New Year, it signals that the seller needs to sell, and thus the buyer may have more leverage," she says.
For obvious reasons, winter is a bigger negative in the North.
"In New York City and the Northeast, spring still remains the best time for selling your home quickly and for a competitive price," says Sam Heskel, president of Nadlan Valuation, an appraisal firm in Brooklyn. "I see far fewer homes in the winter for several reasons. In the cold, people tend to go out less, and by the time people finish work, it is already dark outside. ... Typically, curb appeal is a lot better on a sunny spring day with green trees and landscaped lawns."
But he does note an upside for sellers: There are fewer tire-kickers in winter, when people don't buy unless they have a compelling reason. "Sellers typically find that off-season buyers may be more focused and ready to buy a home," he says.
Take advantage of the snowbirds. Winter is less of a negative in the South, and can in fact be the best time to buy or sell in winter vacation areas like Florida or the Rockies, DiMaggio says.
"Selling a home during the winter season in Aspen, Vail or Whistler, for example, might be an opportune time, while skiers and snowbirds are on holiday," she says.
Talk to an agent. For sellers, one of the drawbacks to listing in winter is that it is likely to take longer to find a buyer than in spring or summer. Since time-on-the-market data is available to buyers and their real estate agents, a slow pace can suggest there's something wrong with the home or lead buyers to assume the seller must be getting desperate.
To keep this data out of the equation, some winter sellers forgo the standard listing on the multiple listing service, or MLS, opting instead for advertising by word-of-mouth among agents, called a private sale or pocket listing.
"These properties are all technically for sale, but the sellers just don't want them to get stale or promote them too early on the public market," says Tom MacLeod, founder of PocketList, a San Francisco-area service that aggregates these non-MLS offerings.
Because of this, buyers should talk to agents and not limit their searches to websites such as Realtor.com and Zillow.com, which use MLS listings.
Both buyer and seller should make sure to use agents who don't go to Aruba for the winter. That said, many agents are especially attentive in the off-season.
"Real estate agents, who are salespeople, need commissions to feed their families," says Aaron McDaniel, a real estate investor and founder of Access Investors Network, which serves real estate investors. "In the summer, agents tend to juggle more clients and properties, but in winter they will fight harder to get a deal closed.


"Today's Top Three San Diego Mansions" Just Listed.
sandiegorealestateflashreport.com.

Image result for san diego skyline art


The median home value in San Diego County is $513,600 and is up 5.4% over the past year.  Zillow predicts it will rise 1.7% within the next year. 

The median home value in La Jolla is $1,665,500  and is up 6.1% over the past year.
Zillow predicts it will rise 1.8% within the next year. 

The median home value in Rancho Santa Fe is $2,736,700 and is up 1.3% over the past year. Zillow predicts it will rise 1.6% within the next year.



#1     412 Marine Street, La Jolla, CA 92037 with 3 bedrooms, 4 baths, and 2,172 sq.ft. is listed for sale at $3,200,000.

412 Marine Street, La Jolla, CA

Opulent, lavishly seductive architectural and interior detailing throughout this beach-close home offers a completely unique aesthetic clad in richly hand-carved and finished natural materials carefully curated and gathered in Europe, Central and South America. Just steps to the sea and a walk to Village shops and restaurants, sea views are enjoyed from the main second level and intimate patios with spa entertain al fresco. 

412 Marine Street, La Jolla, CA

412 Marine Street, La Jolla, CA

412 Marine Street, La Jolla, CA

412 Marine Street, La Jolla, CA

412 Marine Street, La Jolla, CA

412 Marine Street, La Jolla, CA

412 Marine Street, La Jolla, CA




#2      6005 Avenida Cresta, La Jolla, CA 92037 with 7 bedrooms, 5 baths, and 
5,480 sq.ft. is listed for sale at $5,500,000.

6005 Avenida Cresta, San Diego, CA 92037



The Cresta, is an internationally published, award winning, ocean view home by renowned Architect/Developer, Jonathan Segal, FAIA. Situated at the top of a meandering entry sequence, the open air lounge space is shielded from public view by double height concrete panels on one side, the bulk of the house on the other, entirely cast in place concrete, its main characteristics are openness and extensive use of glass. Strategically placed operable glass flawlessly extends the indoors into the outdoors.

6005 Avenida Cresta, San Diego, CA 92037









6005 Avenida Cresta, San Diego, CA 92037

6005 Avenida Cresta, San Diego, CA 92037

6005 Avenida Cresta, San Diego, CA 92037

6005 Avenida Cresta, San Diego, CA 92037

6005 Avenida Cresta, San Diego, CA 92037


#3       14771 Roxbury Terrace, Rancho Santa Fe, CA 92067 with 7 bedrooms, 11 baths, and 11,997 sq.ft. is listed for sale at $7,750,000.

14771 Roxbury Ter, Rancho Santa Fe, CA 92067

Roxbury Estates is considered one of the most exclusive communities in the Rancho Santa Fe area. This custom mansion with its luxury amenities on 2.39 acres, offers an upscale lifestyle in a gated community catering to the most discerning home buyers. This home includes 5 en-suite bedrooms 6 full baths 3 half baths, 6 fireplaces with custom surrounds, an office, home theater, pool room, teen game room and separate 2 bedroom guest house spread out gracefully over nearly 12,000 square feet of living space.

14771 Roxbury Ter, Rancho Santa Fe, CA 92067

14771 Roxbury Ter, Rancho Santa Fe, CA 92067



14771 Roxbury Ter, Rancho Santa Fe, CA 92067
14771 Roxbury Ter, Rancho Santa Fe, CA 92067

14771 Roxbury Ter, Rancho Santa Fe, CA 92067

14771 Roxbury Ter, Rancho Santa Fe, CA 92067

14771 Roxbury Ter, Rancho Santa Fe, CA 92067

14771 Roxbury Ter, Rancho Santa Fe, CA 92067

"Today's Top Three San Francisco Mansions" Just Listed
sanfranciscorealestateupdates.com



The median home value in San Francisco is $1,106,400 and is up 1.3% over the past year. Zillow predicts it will go down - 0.4% within the year.

The median home value in Sausilito  is $1,204,600 and is up 8.3% over the past year. 
 Zillow predicts it will rise .5%  this year.

The medium home value in Tiburon is $2,350,300 and is up 3.7% over the past year. Zillow predicts it will rise 0.2% this year 

The median home value in Saratoga is $2,343,100. Saratoga home values have gone up 2.1% over the past year and Zillow predicts they will go down (0.5)% within the next year.


#1     14395 Quito Road, Saratoga, CA 95070 with 7 bedrooms, 8 baths, and 5,865 sq.ft. is listed for sale at $3,775,000.



 Privacy and tranquility abound at this gated Tuscan Estate. Mostly level acre+ lot, situated at end of private driveway, and away from Quito Road noise. Very convenient location, only 2 minute drive to shopping, Safeway and schools, this 8 years new home combines the rustic beauty of reclaimed materials with lavish appointments for luxurious living. The kitchen is a chef's dream with a signature La Cornue range. Luxurious master suite complete with steam shower and whirlpool tub. Soaring ceilings throughout with 23 foot ceilings in the entry and 20 feet in the living room. Includes a private 2 bedroom cottage with separate driveway access








#2      2855 Jackson Street #301, San Francisco-Pacific Heights, CA 94115 with
 4 bedrooms, 3 baths, and 2,055 sq.ft. is listed for sale at $2,795,000.

2855 Jackson St Apt 301, San Francisco, CA 94115


Gorgeous and sophisticated, situated on the top level, half floor rare residence The 6-unit building has been beautifully maintained, on a flat, tree lined street. Light filled spacious apartment to a DR and LR with east and south city views. LR features custom built-in bookcases, sliding glass doors which open to a small south balcony. DR features 2 new large beveled glass windows with an east City view. A bright gourmet kitchen features Snaidero cabinets, halogen cooktop, new double ovens, subzero refrigerator and a full size Maytag washer and dryer. Quiet, tranquil, south-facing master bedroom and office/bedroom with adjoining bath, 2 other BRs with baths. Large deeded storage and 1 car deeded parking. 

2855 Jackson St Apt 301, San Francisco, CA 94115

2855 Jackson St Apt 301, San Francisco, CA 94115

2855 Jackson St Apt 301, San Francisco, CA 94115

2855 Jackson St Apt 301, San Francisco, CA 94115

2855 Jackson St Apt 301, San Francisco, CA 94115

2855 Jackson St Apt 301, San Francisco, CA 94115


#3      1200 California Street #4C, San Francisco - Nob Hill, CA 94109 with 3 bedrooms, 3 baths, and 2,310 sq.ft. is listed for sale at $2,495,000.


1200 California St Unit 4 C, San Francisco, CA 94109

This fabulous classic 'C' plan home-like apartment is in a fabulous Nob Hill location. The master suite consists of a full bathroom and separate dressing room. Closet space abounds. There is a large 2nd bedroom & private bathroom. Entering the apartment itself, you arrive in a lovely foyer and then into a grand living room complete with enclosed wet bar. The two bedrooms mentioned above are down a hall to the left of the entryway. There is an adjacent dining room that opens into a covered sun-porch. The third bedroom/den is south facing and there is a full bathroom just off the hall. The view from this very special property is classic Nob Hill with a panorama of Grace Cathedral, down California Street.

1200 California St Unit 4 C, San Francisco, CA 94109

1200 California St Unit 4 C, San Francisco, CA 94109

1200 California St Unit 4 C, San Francisco, CA 94109

1200 California St Unit 4 C, San Francisco, CA 94109

1200 California St Unit 4 C, San Francisco, CA 94109

"Today's Top Three LA Mansions" Just Listed
larealestateupdates.blogspot.com




The median home value in Los Angeles County is $532,000 and has gone up 6.7% over the past year.  Zillow predicts they will rise 1.1% within the next year. 

The median home value in Malibu is $2,541,200 and has gone up 1.6% over the past year. Zillow predicts they will go down -0.3% within the next year.

The median home value in Beverly Hills is $3,027,200 and has gone up 6.3% over the past year. Zillow predicts they will rise 0.7% within the next year.


The median home value in Bel Air is $3,137,700 and has gone up 5.1% over the past year. Zillow predicts they will rise 0.5% within the next year.


#1     27320 Winding Way, Malibu, CA 90265 with 7 bedrooms, 4 baths, and 3,827 sq.ft. is listed for sale at $6,275,000.

27320 Winding Way, Malibu, CA 90265

New price reduction of $1.2 million! Historical equestrian compound Rancho Escondido offers 2 parcels on 6+ acres located in the prestigious Winding Way community situated along the Pacific Ocean. Two main homes on APN#4460-004-016. No expense spared on interior designed/renovated 2 bdrm, 1 bath hacienda w/spacious, open floor plan, fireplaces throughout, library, open living room, high ceilings and gourmet kitchen w/dining. Adjacent is state of the art 8- 24'x24' stall barn with office/guest room, tack room, riding arena, covered round pen, and turnout pastures. Trails to Escondido Falls and the beach are directly outside of the gates. Second 3 bdrm, 2 bath ranch home lies above offering full blow scenic views facing the bluffs of Paradise Cove & Point Dume. APN#4460-004-002 is vacant land overlooking the ranch w/180 degree views of the ocean and bluffs. Geo, perc, biology, slope analysis are completed, utilities on site, ready for plans. Rare opportunity.

27320 Winding Way, Malibu, CA 90265

27320 Winding Way, Malibu, CA 90265

27320 Winding Way, Malibu, CA 90265

27320 Winding Way, Malibu, CA 90265

27320 Winding Way, Malibu, CA 90265

27320 Winding Way, Malibu, CA 90265


#2     1932 Stradella Road, Bel Air, CA 90077 with 5 bedrooms, 5 baths, and 4,131 sq,ft, is listed for sale at $5,975,000.

1932 Stradella Rd, Los Angeles, CA 90077







Delight in the most stunning views of Stone Canyon reservoir, colorful canyons and downtown lights from this private and picturesque Bel Air home. Private, walled and gated for ultimate discretion, the 2 story grand entry leads to walls of glass overlooking the sprawling yard with Cypress trees and alluring resort-like pool and cabana, on an expansive 26,809 sq.ft.lot. The indoor outdoor flow and huge patio area are perfect for alfresco dining, entertaining or just catching your breath. The fine features of this home including high ceilings, a formal living room w/fireplace,formal dining room, kitchen w/center island breakfast bar, and breakfast/sitting area.On the first floor, you will find a cozy family room and a library/study w/fireplace and a small gym.The top floor master suite feels like a sanctuary replete w/a private balcony and stunning views, fireplace and walk-in closet. On the upper level, you will also find 3 additional bedrooms and 2 en-suite bathrooms.The story of this home is true privacy and ultimate tranquility on one of the most coveted Bel Air streets, yet minutes from Sunset Blvd and Beverly Hills. 

1932 Stradella Rd, Los Angeles, CA 90077

1932 Stradella Rd, Los Angeles, CA 90077

1932 Stradella Rd, Los Angeles, CA 90077

1932 Stradella Rd, Los Angeles, CA 90077

1932 Stradella Rd, Los Angeles, CA 90077

1932 Stradella Rd, Los Angeles, CA 90077

1932 Stradella Rd, Los Angeles, CA 90077

1932 Stradella Rd, Los Angeles, CA 90077


#3       928 N Beverly Drive, Beverly Hills, CA 90210 with 4 bedrooms, 4 baths, and 4,513 sq.ft. is listed for sale at $8,499,000.

928 N Beverly Dr, Beverly Hills, CA 90210

Updated Spanish home tucked on a park-like, private grounds with a sparkling pool is a perfect house for California indoor, outdoor living just minutes from dining and shopping. The grand living room with fire place and French windows opens to the backyard. Cozy up by the second fireplace in the den or dinners in the spacious dining area. Large kitchen with center island and breakfast area. second floor has a large master suit with his and hers baths and 2 spacious kid's bedrooms. A family room upstairs completes this wonderful house

928-NorthBeverly-Dr05

928-NorthBeverly-Dr07

928-NorthBeverly-Dr08

928-NorthBeverly-Dr10

928-NorthBeverly-Dr12

928-NorthBeverly-Dr01

"Today Top Three Seattle Mansions" Just Listed 
seattleluxuryrealestateupdates.com




The median home value in Kirkland is $571,000. Kirkland home values have gone up 14.5% over the past year and Zillow predicts they will rise 6.7% within the next year. 

The median home value in Seattle is $588,000. Seattle home values have gone up 15.7% over the past year and Zillow predicts they will rise 6.9% within the next year. 

The median home value in Bellevue is $723,400. Bellevue home values have gone up 13.2% over the past year and Zillow predicts they will rise 5.8% within the next year. 

The median home value in Mercer Island is $1,236,700. Mercer Island home values have gone up 12.6% over the past year and Zillow predicts they will rise 6.5% within the next year.

The median home value in Clyde Hill is $2,178,600. Clyde Hill home values have gone up 9.6% over the past year and Zillow predicts they will rise 5.2% within the next year. 


The median home value in Medina is $2,354,100. Medina home values have gone up 11.0% over the past year and Zillow predicts they will rise 5.0% within the next year.

#1     4763 Roberts Way, Seattle-Magnolia, WA 98199 with 3 bedrooms, 2 baths, and 2,700 sq.ft. is listed for sale at $3,199,000

4763 W Roberts Wy

Experience this Paul Hayden Kirk masterpiece with 180 degree views of the Sound and Olympic Mountains.This stunning home features walls of windows to capture one of the finest views.Manicured grounds create a rare experience as if you entered another world away from the city. No expense was spared to maintain the architecture while updating all features to exceed what one expects in a home of this quality. Designed for entertaining with spacious rooms.Wonderful kitchen and family room and 3 car garage.














#2      1026 106th Avenue SE, Bellevue, WA 98004 with 3 bedrooms, 4 baths, and 
3,645 sq.ft. is listed for sale at $2,185,000.

1026 106th Ave Se, Bellevue, WA 98004

Modern living and distinctive design handcrafted by JBX Homes. Luxury amenities include gourmet kitchen, quartz counters and waterfall island, under-cabinet lighting, African hardwood floor, theater/media room wired for projector with wet bar, dining room and covered deck. Master Bath with heated bath floor, suspended cabinetry, quartz counters and bench, freestanding soaking tub, and oversized shower with frameless glass. Quiet lane with easy access to Downtown Bellevue and Kirkland.


1026 106th Ave Se, Bellevue, WA 98004

1026 106th Ave Se, Bellevue, WA 98004

1026 106th Ave Se, Bellevue, WA 98004

1026 106th Ave Se, Bellevue, WA 98004

1026 106th Ave Se, Bellevue, WA 98004

#3     14401 SE 55th Street, Bellevue, WA 98006 with 4 bedrooms, 3 baths, and 
3,240 sq.ft is listed for sale at $2,268,000.

14401 SE 55th St, Bellevue, WA

Iconic mid-century modern architecture above the clouds with 180-degree views. Meander through fresh blooms & lush gardens down the brick pathway to this memorable Fred Bassetti home. Timeless remodeled kitchen by Henrybuilt with bamboo finishes and clean lines. Soak in views w/walls of windows in the bedroom, kitchen & great room. Upper apartment is open & bright w/views of the gardens, lake and Mt Rainier. Enjoy privacy in this renowned Hilltop community: pool, tennis court, 4 acre park and nature trails

14401 SE 55th St, Bellevue, WA

14401 SE 55th St, Bellevue, WA


14401 SE 55th St, Bellevue, WA

14401 SE 55th St, Bellevue, WA

14401 SE 55th St, Bellevue, WA

14401 SE 55th St, Bellevue, WA



14401 SE 55th St, Bellevue, WA

14401 SE 55th St, Bellevue, WA


Today's Mortgage Rates

  • 30YR
    3.42%
    (0.00)
  • 15YR
    2.76%
    (0.00)
  • FHA
    3.25%
    (0.00)
  • Jumbo
    3.53%
    (0.00)
  • 5/1ARM
    2.85%
    (0.00)s

\

\
Rates as of: 9/2/16
Mortgage Rates Remain Near Recent Highs After Jobs Report
Mortgage Rates were steady to slightly higher today, depending on the lender--a relative victory considering the potential volatility associated with today's jobs report.  Though bigger bullets may have been dodged, the lack of improvement means rates remain near their highest levels in several weeks--potentially on the verge of the next "directional trend."  What's a directional trend?  Just a fancy way of labeling the phenomenon where rates are moving either higher or lower fairly consistently.  In stark contrast, the past 2 months have been almost completely directionless--a "sideways trend" if you will.

When it comes to financial markets, these sorts of sideways trends--especially those that bring rates into anincreasingly narrow range--tend to resolve with the beginning of the next big push higher or lower.  At the moment, rates are just on the upper edge of exactly that sort of consolidative range.  That makes it just a bit more likely that the inevitable "next move" will be toward higher rates.  

We'll cross that bridge when/if we come to it though.  For now, even at the highest recent levels, rates are still exceptionally low in a historical context.   Most lenders continue quoting conventional 30yr fixed rates of 3.375-3.5% on top tier scenarios.

Loan Originator Perspectives


Jobs report was a little weaker than expected which usually results with bonds holding ground or rallying.  I am not a fan of locking on Fridays, and especially not a fan of locking on a Friday ahead of a 3 day weekend.  If you floated into today's data, I would float to Tuesday and evaluate pricing then.  -Victor Burek, Churchill Mortgage

We wondered if August's NFP report would motivate bonds out of their narrow trading range, and the answer was NO.  The report missed expectations slightly, but rates still rose a bit.  Bond trading desks were likely abandoned by noon, and any movement this PM should be inconsequential.  We are now near the top of our 1.50-1.60% treasury range, if it remains intact, pricing next Tuesday may improve, at least marginally.  Lock/float still remains a toss up, but only float if you won't lose sleep worrying about your rate.  -Ted Rood, Senior Originator

Today's Best-Execution Rates

  • 30YR FIXED - 3.375 - 3.5%
  • FHA/VA - 3.0 - 3.25%
  • 15 YEAR FIXED - 2.75%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender

Ongoing Lock/Float Considerations

  • In the biggest of pictures, "global growth concerns" remain the driving force behind the long-term trend toward lower rates
  • Amid that trend, periodic corrections toward higher rates can and will happen.  These can happen for no apparent reason, or they can be brought on by changes in expectations surrounding central bank policy at home and abroad, as well as geopolitical and systemic risks
  • Time horizon and risk tolerance are 2 variables to consider when it comes to locking.  If you have plenty of time and don't mind losing some ground, set a limit as to how much higher rates could go before you'd lock to avoid further losses, and then float in the hopes of never seeing that limit.
     
  • In the shorter-term, it's always good to look for lock opportunities after rates have been moving lower or sideways repeatedly, especially if they've since begun to move back up in any sort of consistent way.
     
  • As always, please keep in mind that the rates discussed generally refer to what we've termed 'best-execution(that is, the most frequently quoted, conforming, conventional 30yr fixed rate for top tier borrowers, based not only on the outright price, but also 'bang-for-the-buck.'  Generally speaking, our best-execution rate tends to connote no origination or discount points--though this can vary--and tends to predict Freddie Mac's weekly survey with high accuracy.  It's safe to assume that our best-ex rate is the more timely and accurate of the two due to Freddie's once-a-week polling method). 
    Thanks for reading today's Blog. Looking for more information? Have a comment? Call or email me.


    Sincerely,

    Tom