Monday, September 19, 2016

Today's Top Three Luxury Estates in San Diego, Los Angeles, San Francisco and Seattle Just Listed For Sale

                                           .                                 
                                      
                                     "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


#1     Great Island, Darien, CT with 10 bedrooms, 10 + baths and 13,107 sq.ft. is listed for sale at $175,000,000.


This extraordinary 63 acre waterfront island estate with seemingly endless east, south, and west views of long island sound to the long island shore adjoining 14 acres of conservation property with a wide landbridge to the gated mainland driveway leading to long neck point in darien only minutes from Greenwich. incredible beauty and solitude; views of lighthouse as well as secluded anchorage in hidden cove. romantic italian stone manor house, plus substantial stable and equestrian facilities including a polo field and an indoor ring plus additional dwellings; beach house, and boathouse.

 

 



 

#2      120 Montecito Ranch Lane, Summerland, CA 93067 with 7 bedrooms, 9 baths,
and 12,000 sq.ft. is listed for sale at $65,000,000.


World-class 25-acre polo ranch estate near renowned Santa Barbara Polo Club with ocean and mountain views. Formal reception area opens to grand-scale interiors. Includes private polo field, quality stables/office/clubhouse complex with extensive parking, detached guest suite, 128' pool, poolside cabana, loggia, putting green, driving range, secret garden and exotic outdoor soaking tub at master suite.












#3          2620 Wallingford Drive, Beverly Hills, California 90210 with 8 bedrooms, 
12 baths, and 9,600 sq.ft. is listed for sale at $19,995,000.










Classy and timeless warm contemporary w/ dramatic views designed and built to the absolute highest level by one of Beverly Hills premier developers. Approx. 12,000 SF under roof (aprox. 9,600 air conditioned) featuring a total of 8 Beds and 12 baths w/ a separate guest house w/ approx. 2,000 SF. Double gated on a private street w/ only 14 homes and 

2 tennis courts, featuring a glass pebble infinity pool, a luxurious cinema w/ 9.1 surround system, 10 fireplaces and a firepit w/ seating for 25, 20 TV's and a state of the art 88-speaker sound system, 14 A/C zones, full smart home automation and every high end feature available today. Master suite w/ approximately 2,000 SF w/ a heated private covered patio w/ a spa and a fireplace, extensive his and hers baths and closets w/ automated showers and steam, heated floors throughout, a kitchenette and an oversized his/hers office with private entry/exit. 3-car garage and parking for 8 cars inside the property w/unlimited parking outside. 











Today's Real Estate News  

Why Is The Housing Market So Sluggish.

By Lew Brnes
lbarnes@pmglending.com.

Here in the second half of the seventh year of economic recovery, the national housing market is still just pooping along.

Nothing bad — the national rate of price appreciation running about 5 percent, steadily so.

Sales of existing homes are up (again) about 10 percent year-over-year, but it will take another five years at that pace to resemble “hot,” relative to population gains.

Sales of new homes need about a decade at the current rate of gains just to get to historical “healthy.”

Where’s the fire? By the third year of any previous recovery, the Fed has had to lean into housing to slow it down.

Where’s the fire?
Mortgage rates are back to the all-time low, where we were four years ago. One measure of housing as a “deal”: compare the after-tax mortgage rate to the rate of price appreciation.

If prices are rising faster than interest costs accumulate, deal!

For most homebuyers, 3.50 percent converts to something close to 2.75 percent, and prices are rising twice that fast — and up to a half-million dollars profit per couple, price gains are tax free.

Jackdaws complain that the Fed has failed, many swearing that super-low rates and quantitative easing are counter-productive.

It’s odd that Fed easing ended every previous recession. For every problem, there is a simple and mistaken solution.

Many gripe that mortgage underwriting is too tight.

It is true that we are a pain in the ass, hounding borrowers for documents remotely connected to credit performance. And the newest grandiose effort by the CFPB (Consumer Financial Protection Bureau) to fix the mortgage process from application to closing is a complete bust, loads of unnecessary sand and gravel in lender and consumer gears, but it’s not reducing approvals of loans.

Every reasonable low-down-payment and assistance program is back in operation, a lot like the ’80s and ’90s. Underwriting of appraisals is back to normal. The only two classes of loans which are impaired — again compared to ’80s and ’90s — are those for the asset-heavy but unusual or no income, and jumbos.

Those two categories, however, are not enough to account for the absence of a big-time housing party.

Or should we ask, ‘Where’s the money?’
My beloved business partner of 20 years kept a few cartoons on her office door. One had a middle-aged couple sitting at opposite ends of a sofa, the female saying: “Harold, I married you for your money. Where is it?”

Other reasons for housing to be not on fire include student loans. Those balances have doubled since the Great Recession, but the average total loan is barely $25,000.

There’s a difference between real pain and an inconvenience.

Another “reason”: Millennials suffer from collapsed SAT scores, unable to perceive the benefit of owning a home versus ever-increasing rent.

Go deeper.

The job market has changed. The decline in the workforce especially among the young and middle aged is certainly due to global trade and automation removing the first two rungs on the job ladder.

Until about 2000, a working pair of partners could earn a dignified family income at jobs using their hands. Today those jobs pay so poorly (if available) that they offer little incentive, and even less opportunity for advancement.

From the parade of clients through my office, their worries for themselves and their kids, three things stand out.

First, the cost of health care is destructive to the middle class. What good does Obamacare coverage do me if I can’t afford the deductible? Where am I going to get $5,000?

The same problem afflicts higher education, feeding back into the student loan issue: The cost of health care and higher education have been rising at two to three times the rate of inflation for 25 years. The Corleones should have such rackets, proof against market forces.

The third piece: Primary education has failed its primary duty — to prepare our youth for productive employment and citizenship. We have wandered off into unimaginable priorities for multicultural studies and self-esteem and become intolerant of words like “competition.”

One tradition preserved: The few kids who accept vocational tech training are still ridiculed and ostracized. We need apprenticeships, old-fashioned civics and daily affirmation that there is dignity in all work.

I fear that our not-on-fire housing market reflects too many Americans struggling to find economic ignition and a modicum of self-provided security.







Today's Top Three San Diego Luxury Estates 
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      7461 Via Capri, La Jolla, CA 92037 with 4 bedrooms, 5 baths, and 4,153 sq.f. is listed for sale at $3,399,000. 

7461 Via Capri, La Jolla, CA 92037

First time to the market since 1969! This Mid Century masterpiece was designed in 1961 by James E Hurley for the Jenkins family. A classic post-n-beam structure that is highlighted by vaulted tongue n groove ceilings and cedar siding. It has been meticulously rejuvenated with modern updates to its mid century splendor. Awe-inspiring unobstructed whitewater ocean views from almost every room in the house. Walls of sliding glass for seamless indoor-outdoor living. Its a Modernist Dream come true! 

7461 Via Capri, La Jolla, CA 92037

7461 Via Capri, La Jolla, CA 92037

7461 Via Capri, La Jolla, CA 92037

7461 Via Capri, La Jolla, CA 92037

7461 Via Capri, La Jolla, CA 92037

7461 Via Capri, La Jolla, CA 92037

7461 Via Capri, La Jolla, CA 92037


#2       15815 Bella Siena, Rancho Santa Fe, CA 92067 with 8 bedrooms, 10 baths, and 12,741 sq.ft. is listed for sale at $7,450,000.


Located on the ideal west side of Rancho Santa Fe, with immediate proximity to beaches, public and private schools, offices and retail, Bella Siena - Magnifico represents a compound of unparalleled elegance and understated beauty with amenities that are sought after by families of all sizes. Situated in a gated enclave of just 4 estates and sequestered behind private gates of its own, the property, an all-useable 2.75 acre estate.









#3     231 Coast Blvd., La Jolla, CA 92037 with 3 bedrooms, 4 baths, and 2,642 sq.ft. 
is listed for sale at $2,450,000.

231 Coast Blvd, La Jolla, CA 92037

A hidden architectural jewel across from pristine White Sands Beach in La Jolla. This townhouse condo, is bathed in light, has soaring ceilings ,skylights ,three fireplaces and a superb floor plan. The sunny spacious patio offers wonderful indoor/outdoor living. Three bedroom suites, a powder room , great room and family room/den , elevator, surround sound, and private garage. Stroll to the village or the beach. Built in 2002, Architect James Alcorn and designer Patrick Lee have created a wonderful home.

231 Coast Blvd, La Jolla, CA 92037

231 Coast Blvd, La Jolla, CA 92037

231 Coast Blvd, La Jolla, CA 92037

231 Coast Blvd, La Jolla, CA 92037

231 Coast Blvd, La Jolla, CA 92037

Today's Top Three San Francisco Luxury Estates
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 



#1      1180 Greenwich Street, San Francisco, CA 94103 with 2 bedrooms, 3 baths, and 2,000 sq.ft. is listed for sale at $1,995,000

1180 Greenwich St, San Francisco, CA 94109















Hip design, fun location and incredible views!! Situated at the pinnacle of Russian Hill, this contemporary townhouse, designed by noted SF architect Dan Solomon, features a unique, loft-like, open floor plan on the main living level. The upper floor includes a generous master suite w/walk-in closet; a guest bedroom and bath; and a large home office w/built-in bookcases. The home's crowning feature is a private, easily accessible roof deck that provides sweeping views from Angel Island and the North Bay around to Coit Tower, the Downtown skyline and the twinkling lights of the Bay Bridge. Prime, convenient location, close to the dynamic Polk, Hyde, North Beach dining/shopping districts, as well as to parks, cable cars and the north waterfront.  


1180 Greenwich St, San Francisco, CA 94109

1180 Greenwich St, San Francisco, CA 94109

1180 Greenwich St, San Francisco, CA 94109

1180 Greenwich St, San Francisco, CA 94109


#2      765 Market Street, Penthouse, San Francisco-SoMa, CA 94103 with 4 bedrooms, 6 baths, and 4,640 sq.ft. is listed for sale at $11,900,000


Grand Penthouse A at the Four Seasons Residences San Francisco is Northern California's highest and largest condominium available for sale. Panoramic views from every room of this 4bd/5.5ba Penthouse span sunrise to sunset & include the San Francisco Bay, Financial District & notable landmarks. Floor plan is poised for elevated living: extraordinary Great Room with panoramic metropolitan and Bay views, eat-in Kitchen w/ adjoining Family Room enjoying Southwest views, Bedroom Wing with private entrance and Staff Suite with separate entrance. Paired with the Four Season's legendary Five-Star amenities, the rare availability of this one-of-a-kind residence presents a truly unique opportunity.


                                          









#3     75 Madrona Avenue, Belvedere, CA 94920 with 5 bedrooms, 4 baths, and 5,144 sq.ft. is listed for sale at $4,850,000.

75 Madrona Ave, Belvedere, CA 94920

Built in 1988 by the current owners and thoughtfully designed, this traditional-style home is situated among mature oak trees with beautiful views from Belvedere Lagoon and across Belvedere Cove to Angel Island. The house has a flexible floor plan with 4 bedrooms plus an office, spacious casual areas for everyday living and generous formal rooms for entertaining. There is access to the outdoors from nearly every room. Ample parking for 6+ cars

75 Madrona Ave, Belvedere, CA 94920

75 Madrona Ave, Belvedere, CA 94920

75 Madrona Ave, Belvedere, CA 94920

75 Madrona Ave, Belvedere, CA 94920

75 Madrona Ave, Belvedere, CA 94920



Today's Top Three LA Luxury Estates
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      677 Nimes Road, Bel Air, CA 90077 with 3 bedrooms, 2 baths, and 1801 sq.ft. 
is listed for sale at $15,900,000

http://www.angelenoliving.com/sites/d7dk.localhost/files/styles/620wide/public/blog-images/180912_21/677-Nimes-Rd-exterior.jpg


This explosive city view property is located through the prestigious East gate of Bel Air offering over 3/4 of an acre of land and surrounded by some of the most expensive real estate in the west coast. This property is on one of the most distinguished streets and sought after neighborhoods in Los Angeles. Plans have been submitted to the city for an amazing modern oasis with 5 bedrooms and 9 bathrooms. Existing structure is a mid-century surrounded by lush greenery with an open floor plan and floor to ceiling windows. This property is a historical landmark and was previously owned by television star actor Jim Backus best known as Thurston Howell from Gillian's Island. 
677 Nimes Road, Los Angeles, CA
677 Nimes Road, Los Angeles, CA
677 Nimes Road, Los Angeles, CA


Bel Air Mid-Century by Greta Magnusson Grossman
677 Nimes Road, Los Angeles, CA
677 Nimes Road, Los Angeles, CA

Bel Air Mid-Century by Greta Magnusson Grossman

#2     72 Beverly Park, Beverly Hills, CA 90210 with 11 bedrooms, 18 baths, and 
20,000 sq.ft. is listed for sale at $35,995,000. 

72 Beverly Park, Beverly Hills, CA 90210

Trophy contemporary estate by the Landry Design Group sited on the highest elevation in Beverly Park. The free-flowing approx 20, 000 sq. ft. estate includes a 6, 100 sq. ft. guest house + 1, 700 sq. ft. bonus room at basement level, which is connected to the main house by a glass and stainless steel-columned bridge. There is a total of 11bdrm/18bath on 6.79 acres (over 2 acres level) with mountain views and city lights. This private hilltop setting's outdoor amenities include vast pristine lawns, large pool and paddle tennis court with pavilions.

72 Beverly Park, Beverly Hills, CA 90210

72 Beverly Park, Beverly Hills, CA 90210

72 Beverly Park, Beverly Hills, CA 90210


72 Beverly Park, Beverly Hills, CA 90210


72 Beverly Park, Beverly Hills, CA 90210

72 Beverly Park, Beverly Hills, CA 90210


#3        30449 Morning View Drive, Malibu, CA 90265 with 5 bedrooms, 7 baths, and 
6,256 sq.ft. is listed for sale at $6,995,000

30449 Morning View Dr, Malibu, CA 90265

This modern masterpiece, designed by AIA Citation-Winner Patrick Killen and Jeff Widmann, is nestled up a long private driveway and behind gates with breathtaking panoramic ocean views. This two-story home features luxurious bedroom suites with ocean views, a chef's kitchen with top-of-the-line appliances, formal dining room, home theater, gym, office and a great room that allows you to enjoy a seamless indoor-outdoor lifestyle. Entertain in the lush grassy backyard with an amazing Olympic-like pool, spa, outdoor kitchen and cabana. There is ample land for horses and a tennis court. The three-car garage completes this hom.

30449 Morning View Dr, Malibu, CA 90265


30449 Morning View Dr, Malibu, CA 90265

30449 Morning View Dr, Malibu, CA 90265


30449 Morning View Dr, Malibu, CA 90265


30449 Morning View Dr, Malibu, CA 90265


30449 Morning View Dr, Malibu, CA 90265

Today Top Three Seattle Luxury Estates
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. 

#1     1006 W Lake Sammamish Parkway SE, Bellevue, CA 98008 with 5 bedrooms, 
6 baths, and 5,875 sq.ft. is listed for sale at $4,198,000.



Welcome home to life on the lake! Drink in the beauty of Lake Sammamish with panoramic views from every living space. This immaculate residence has been expertly designed with dramatic indoor spaces and the finest craftsmanship. Crisp, bold modern lines and an open floor plan deliver a sophisticated yet ultimately welcoming and comfortable ambiance. Incredible outdoor living spaces; 3 lakefront decks, outdoor living room w/ gas f/p, lush lawn, hot tub and a stunning 100' of no bank waterfront. 














#2      1121 Vine Street #2501, Seattle-Belltown, WA 98121 with 2 bedrooms, 2 baths, and 2,656 sq.ft. is listed for sale at $2,800,000

121 Vine St, Seattle, WA

Breathtaking panoramic views from this top of the world penthouse. Belltown's finest highrise with resort class amenities. Lovely showcase interior by design, with warmth and charm throughout: exotic Anigre hardwood cabinets, Hinoke Cypress accents; rich walnut, Travertine marble, granite floors. Steps to world-class dining, the arts, Seattle's vibrant waterfront. 280-degree ever-changing vistas: Elliott Bay, Mount Rainier, Olympics, Lake Union. 3 designated, secure parking spaces

121 Vine St, Seattle, WA


121 Vine St, Seattle, WA


121 Vine St, Seattle, WA

121 Vine St, Seattle, WA

121 Vine St, Seattle, WA
.

#3       6,328 170th Place, Bellevue, WA 98006 with 6 bedrooms, 6 baths, and 
7,370 sq.ft. is listed for sale at $4,628,000.


Sitting 1,350 ft above sea level, experience life at the top! Built in 2010, this 3 story home features 6 bdrm/5 baths offering privacy and space. Large open spaces & elevator too make coming together for all generations is easy! Equipped with Control4 modular smart home automation systems, featuring stunning architecture, 22 tall stone fireplace, floor-to-ceiling Milgard windows, eco-conscious organic bamboo flooring and a beautiful layered view of the Olympics, Sound, Lake Washington and golf courses!








Today's Mortgage Rates                                                                     12 months


ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.47%3.47%--3.34%4.11%
15 Yr FRM2.82%2.82%--2.69%3.30%
FHA 30 Year Fixed3.30%3.30%--3.15%3.75%
Jumbo 30 Year Fixed3.62%3.62%--3.41%3.93%
5/1 Yr ARM2.86%2.86%--2.80%3.10%


Mortgage Rates Eerily Calm Ahead of Fed Week
Sep 16 2016, 3:51PM

Mortgage Rates were unchanged again today, on average.  Some lenders were modestly better than yesterday.  Others were modestly worse.  But all were fairly close.  This is an eerie level of stability given the fact that rates looked like they were finally breaking out of a 2-month-long holding pattern earlier this week.  That said, it could be the case that rates are simply waiting for next week's policy announcement from the Fed before locking in their final answer.
While stability is good, the outright levels are still higher than they were.  In fact, with the exception of Monday, this week's rates are the highest in more than 2 months.  Silver lining: "high" is still pretty darn low, historically, with 3.5% remaining the most prevalent conventional 30yr fixed quote on top tier scenarios.

Potential volatility remains at least through next Wednesday's Fed meeting.

Loan Originator Perspective


I have never been a fan of locking on Friday, but I am leaning that way today. The common theme of the last week or so has been each time bonds rally, sellers come out quickly so I don't see much benefit in floating right now. The trend continues to not be our friend right now. If your lender pricing is better today, I would lock. If your lender pricing is worse, I would then look to float over the weekend. -Victor Burek, Churchill Mortgage

Today's Best-Execution Rates

  • 30YR FIXED - 3.5%
  • FHA/VA - 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 Furino

    email:                 tomstopmansions@gmail.com   
    phone/text        619-944-8749