Friday, September 23, 2016

Today's Top Three Luxury Estates in San Diego, Los Angeles, San Francisco and Seattle 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      3000 Benedict Canyon Drive, Beverly Hills, CA 90210 with 5 bedrooms, 
8 baths, and 10,000 sq.ft. is listed for sale at $25,000,000.

Impeccable New modern masterpiece situated on 3.2 acres- a very Secluded and Private cul-de-sac. This exquisite 10,000+ Sq Ft Estate features 5 Bedrooms, 6 full Baths, 2 half Baths, Theater, and a Private Guest Suite/Maids Quarters with its own private entrance. This work of art provides the ultimate luxury resort feel with sublime City and Canyon views, water features, atrium, and fabulous entertaining areas. Throughout the interior, the glass walls set the tone of elegance and function. The home is custom designed throughout including lighting, high ceilings, cabinets, oak flooring and a most remarkable chef's kitchen with two built-in smokeless hibachi grills and top of the line appliances. Automated smart home technology controls the entire home. Upstairs, the plush master suite features 2 deluxe walk-in closets and private balcony with fireplaces inside and outside. Outside, breathtaking grounds include immaculate landscaping, Infinity Pool & Spa, Built-in BBQ, Fire Pits, and Four car garage. Truly a house for an art collector, entertainer or family. The home is convenient to all the most enjoyable features in Beverly Hills while still providing complete privacy and security.









#2     2 North Moore, Manhattan-Tribeca with 6 bedrooms, 7 baths, and 11,300 sq.ft. 
is now reduced to $38,000,000.
                          
2 N Moore St, New York, NY 10013

An unrivaled residence on one of Tribeca's most exclusive fabled streets this majestic mansion with 65' of frontage on a prime corner lot affords its discerning owner a rare and privileged lifestyle. Built in 2008 yet epitomizing modern luxury is this distinguished Wayne Turret created masterpiece that's been impeccably designed with the finest finishes systems and amenities most notably a high speed Kone traction elevator that transports you between 6 stories and the finished lower level 7 central air units plus central vac air and water purification radiant heated walnut hardwood floors one touch state of the art audio video and security a top floor gym with a 50' indoor heated swimming pool full house generator and 3 car garage. 

 The decadent 11 300 square foot interior is beautifully saturated with natural light by huge windows and numerous oversized skylights. Stunning city views are continuously savored from multiple interior exposures and an incredible 1500 square feet of priceless private outdoor space. Massive decks on the 2nd and 3rd floors boast pristine landscaping outdoor grill and gas fireplace as well as irrigation and mist cooling systems. The master suite occupying the 5th floor offers another private outdoor retreat with its own large balcony fireplace and spa bath. Sprawling living and entertaining space assures the ultimate comfort and accommodates grand gatherings. 

This home is truly one of a kind in every aspect with 6 bedrooms 7 full baths 4 powder rooms 3 fireplaces an elegant formal living room a professional Molteni Dada chef's kitchen sun drenched art studio staff apartment with separate entrance stately den/library screening and billiards room tranquil outdoor dining atrium full laundry room finished lower level enormous storage areas and the list goes on. Cobblestoned North Moore whose mere 4 blocks has housed some of the city's most striking architecture and the world's most renowned residents is downtown's premier address. Tribeca chic is embodied in the landscape of your surroundings with excellent shops and restaurants Hudson River Park SoHo and other attractions minutes from your door.

2 N Moore St, New York, NY 10013

2 N Moore St, New York, NY 10013

2 N Moore St, New York, NY 10013

2 N Moore St, New York, NY 10013

2 N Moore St, New York, NY 10013

2 N Moore St, New York, NY 10013

2 N Moore St, New York, NY 10013

2 N Moore St, New York, NY 10013

#3      1231 Lago Vista Drive, Beverly Hills, CA 90210 with 7 bedrooms, 11 baths, and 14,173 sq.ft. is listed for sale at $43,900,000.

1231 Lago Vista Dr, Beverly Hills, CA 90210

No  expense was spared in designing this un-parralled 7-bedroom, 11-bath residence. A stunning 6 ft Mooi chandelier, 2 sets of floating staircases, and an original Andy Warhol greet guests at the entrance. The main level & all baths feature Nano Glass, a scratch and stainproof stone composite slab. All carpeting is custom-sized and hand-knotted. The oversized elevator is fronted by custom L'invisible bank vault doors, and even the air conditioning vents are configure vertically for a sleek, seamless appearance. Over a million dollars in furnishings by B andB Italia, Minotti, and Gandia Blasco are offset by the latest in-home inspirations and technology, including 33 soaring floor to ceiling Rimadesio Italian glass magnetic doors. Fully integrated Crestron automation & environment controls make adjustment of all household systems as easy as the push of a button. Other highlights include a 600-bottle floating backlit wine cellar that opens with a thumbprint and a state-of-the-art home theater.

1231 Lago Vista Dr, Beverly Hills, CA 90210

1231 Lago Vista Dr, Beverly Hills, CA 90210

1231 Lago Vista Dr, Beverly Hills, CA 90210

1231 Lago Vista Dr, Beverly Hills, CA 90210

1231 Lago Vista Dr, Beverly Hills, CA 90210

1231 Lago Vista Dr, Beverly Hills, CA 90210


Today's Real Estate News  
"Very Concerning" Inventories and Higher Prices Weigh on Home Sales
By Jann Swanson
Mortgage News Daily

Sales of existing homes slowed for the second consecutive month in August according to data released on Thursday by the National Association of Realtors® (NAR).  Sales declined by 0.9 percent to a seasonally adjusted annual rate of 5.33 million units despite mortgage rates that were near record lows.  Sales in July had been reported down from June by 3.2 percent to 5.39 million and that number was revised lower in the current report to 5.38 million. Coupled with July's decline, sales are at their second-lowest pace of 2016, but are still slightly higher (0.8 percent) than a year ago when the annual rate was 5.29 million units.

The August sales number came in just under the lowest prediction of analysts surveyed by Econoday. Their consensus was 5.44 million sales with a range of 5.35 to 5.56 million.
NAR's press release said that potential buyers of existing single family homes, townhomes, condominiums, and co-op were kept at bay by higher home prices and tight inventories. Only the Northeast region, where inventory is currently more adequate, saw a monthly increase in closings.

Single-family home sales declined 2.3 percent to a seasonally adjusted annual rate of 4.70 million in August from 4.81 million in July, but are still 0.6 percent above the 4.67 million pace a year ago.

Existing condominium and co-op sales, which had nose-dived 12.3 percent in July recovered in August by jumping 10.5 percent from a seasonally adjusted annual rate of 570,000 units to 630,000.  Those sales were 1.6 percent higher than those a year earlier.  
Lawrence Yun, NAR chief economist, says recent job growth is not yielding higher home sales. "Healthy labor markets in most of the country should be creating a sustained demand for home purchases," he said. "However, there's no question that after peaking in June, sales in a majority of the country have inched backwards because inventory isn't picking up to tame price growth and replace what's being quickly sold."

Added Yun, "Hopes of a meaningful sales breakthrough as a result of this summer's historically low mortgage rates failed to materialize because supply and affordability restrictions continue to keep too many would-be buyers on the sidelines."

The median existing-home price for all housing types in August was $240,200, up 5.1 percent from $228,500 in August 2015.  This marked the 54th consecutive month of year-over-year gains. The median existing single-family home price was $242,200, an increase of 5.3 percent from the previous August, while existing condo price rose 3.7 percent to $225,100.

Total housing inventory at the end of August tightened by 3.3 percent to 2.04 million available homes and is now 10.1 percent lower than a year ago when 2.27 million homes were on the market. This is an estimated 4.6-month supply at the current rate of sales, down from 4.7 months in July. The inventory has declined year-over-year for 15 straight months.

"It's very concerning to see that inventory conditions not only show no signs of improving but have actually worsened in recent months from their already suppressed levels a year ago," added Yun. "While recent data from the U.S. Census Bureau shows that household incomes rose strongly last year, home prices are still outpacing incomes in many metro areas because of the persistent shortage of new and existing homes for sale. Without more supply, the U.S. homeownership rate will remain near 50-year lows."

The share of first-time buyers retreated slightly from 32 percent in July to 31 percent but is still ahead of last year when first-time buyers represented 30 percent of all sales.  Individual investors purchased 13 percent of homes during the month, up 2 percentage points from July and 1 point compared to August 2015.  Sixty-two percent of investors paid all cash and cash sales made up 22 percent of sales transactions.

The share of distressed sales was 5 percent in August tied with July for the smallest share since NAR began tracking the number in 2008.  Short sales accounted for only 1 percent of the total.  Foreclosures sold for an average discount of 12 percent below market value in August (18 percent in July), while short sales were discounted 14 percent (16 percent in July).

Typical marketing time for houses sold during August was 36 days, unchanged from July but down considerably from the 47 days required a year earlier. Short sales were on the market the longest at a median of 144 days, while foreclosures sold in 42 days, and non-distressed homes took 35 days. Forty-six percent of homes sold in August were on the market for less than a month.

NAR President Tom Salomone said, "Given the inventory shortages in most markets, new listings at affordable prices are receiving multiple offers and going under contract almost immediately upon becoming available. Home shoppers serious about buying need to be ready with a pre-approval. This allows a Realtor® to hone in only on homes within the buyer's price range and ensures any offer presented to the seller is taken seriously."

As noted, the Northeast was the exception to the lower sales numbers, with existing sales jumping 6.1 percent to an annual rate of 700,000, the same as last year. The median price in the Northeast was $274,100, an 0.8 percent annual increase.

In the Midwest, existing-home sales decreased 0.8 percent to an annual rate of 1.27 million but remained 0.8 percent above a year ago. The median price in the Midwest was $190,700, up 5.5 percent from the previous August.

Existing-home sales in the South in August fell 2.7 percent to an annual rate of 2.16 million, but are still 0.9 percent above August 2015. The median price in the South was $209,700, up 6.7 percent year-over-year.

Existing-home sales in the West dipped 1.6 percent to an annual rate of 1.20 million, 0.8 percent above the prior year. The median price in the West increased by 9.2 percent to $347,400. 
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     649 Seabright Lane, Solana Beach, CA 92075 with 6 bedrooms, 8 baths, and 
7,000 sq.ft. is listed for sale at $5,795,000.

649 Seabright Ln, Solana Beach, CA 92075

Stunning architecture, unique design, exquisite materials, superb finishes, and a coveted location, render this a one of a kind property. Built by renowned '4 x 4 Construction', it is sited on a level, rare, half acre lot, and offers protected, whitewater views, only minutes to the beach, the Solana Beach design district, and Del Mar. A private, gated, entrance leads to the guest cabana and over sized office, befitting the most successful of entrepreneurs.

649 Seabright Ln, Solana Beach, CA 92075

649 Seabright Ln, Solana Beach, CA 92075

649 Seabright Ln, Solana Beach, CA 92075

649 Seabright Ln, Solana Beach, CA 92075

649 Seabright Ln, Solana Beach, CA 92075

649 Seabright Ln, Solana Beach, CA 92075


#2        2855 5th Avenue #701, San Diego-Mission Hills, CA 92103 with 3 bedrooms,
 3 baths, and 2,385 sq.ft. is listed for sale at $2,629,000. 

2855 5th Ave Unit 202, San Diego, CA 92103

The best front yard in the city, on Balboa Park! The Bark Bankers Hill is quickly becoming the most prestigious and desired address in San Diego! This refined residence offers unprecedented value of elegance and  ease with privacy and  space of a large single-family home. Interior designer finishes include: custom Italian Boffi cabinetry, Miele appliances and Duchateau wood flooring. Enhancing the indoor living space, the home features outdoor terraces and patios of over 300 sqft; perfect for entertaining!









#3      2335 Juan, San Diego-Mission Hills, CA 92103 with 6 bedrooms, 8 baths, and 5,735 sq.ft. is listed for sale at $3,488,000.


Gated Spanish Eclectic estate is sited on over an acre of hilltop grounds with panoramic bay and city views. Likely designed by Richard Requa in 1930, residence retains original stenciled beams, classic archways, entry tile and wrought iron. First floor features spacious living areas, including well-appointed kitchen with adjacent breakfast area. Upstairs is complete with four bedrooms plus expansive master suite. Guest quarters over two-car garage. Mills Act affords significantly reduced property taxes.








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 

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      14123 Tracy Court, Los Altos Hills, CA 94022 with 7 bedrooms, 6 baths, 
and 5956 sq.ft. is listed for sale at $7,788,000.

14123 Tracy Ct, Los Altos Hills, CA 94022

Meticulous attention to detail augments this custom estate. Highly sustainable, state-of-the-art home includes eco-friendly, geothermal energy system and flexible spaces like 2-story au pair unit. Functional, stylish masterpiece effortlessly opens to outdoor living areas with kitchen, pool, and play structure. Steps to Pearson-Arastradero Preserve.

14123 Tracy Ct, Los Altos Hills, CA 94022

14123 Tracy Ct, Los Altos Hills, CA 94022

14123 Tracy Ct, Los Altos Hills, CA 94022

14123 Tracy Ct, Los Altos Hills, CA 94022

14123 Tracy Ct, Los Altos Hills, CA 94022

14123 Tracy Ct, Los Altos Hills, CA 94022


#2      475 Bridgeway, Sausalito, CA 94965 with 4 bedrooms, 6 baths, and 6,116 sq.ft. is listed for sale at $8,990,000,

475 Bridgeway Blvd, Sausalito, CA 94965

Luxurious contemporary home completely renovated and updated in 2014 w/panoramic views of San Francisco Bay. Top floor w/stunning master suite, state of the art bathroom, study, viewing decks, & addtl ensuite. Main level boasts gourmet kitchen, formal dining rm, spacious living rm, 1 f/p, bar & family rm, 1 ensuite, powder rm, 2 large decks. Entry level has au pair suite, second family rm, laundry rm, 4 car garage and elevator for all levels.

475 Bridgeway Blvd, Sausalito, CA 94965

475 Bridgeway Blvd, Sausalito, CA 94965

475 Bridgeway Blvd, Sausalito, CA 94965

475 Bridgeway Blvd, Sausalito, CA 94965

475 Bridgeway Blvd, Sausalito, CA 94965

475 Bridgeway Blvd, Sausalito, CA 94965

475 Bridgeway Blvd, Sausalito, CA 94965

475 Bridgeway Blvd, Sausalito, CA 94965


#3      2614 Sacramento Street, San Francisco-Pacific Heights, CA 94115 with
 3 bedrooms, 3 baths, and 3,670 sq.ft. is listed for sale at $4,115,000.

27 Presidio Terrace, San Francisco, CA

In the Pacific Heights neighborhood and a short walk to Alta Plaza Park, 2614 Sacramento Street is a Victorian style home with 3 bathrooms and 3,670 square feet of living space. Nearby schools include Megan Furth Academy, Town School for Boys, William L. Cobb Elementary School, San Francisco Public Montessori and San Francisco University High School. A short distance to Clay Theater, CPMC Hospital and Lafayette Park

27 Presidio Terrace, San Francisco, CA

27 Presidio Terrace, San Francisco, CA

27 Presidio Terrace, San Francisco, CA

27 Presidio Terrace, San Francisco, CA

27 Presidio Terrace, San Francisco, CA

27 Presidio Terrace, San Francisco, CA



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      22201 Carbon Mesa Road, Malibu, CA 90265 with 5 bedrooms, 8 baths, and 7,174 sq.ft. is listed for sale at $14,750,000.

22201 Carbon Mesa Road, Malibu, CA

Just moments above PCH, this nearly 6-acre private and secure compound offers breathtaking panoramic ocean views. This custom built masterpiece exudes an exceptional quality consistently showcased throughout the entire home. Designed with the finest materials and controlled by Crestron home automation, this property features an open floor plan with a spacious living room, library, theater, gourmet kitchen, gym, wine cellar and more. The master suite includes a sitting area, fireplace, exceptional coastline views, dual walk-in closets and a luxurious spa-like bath. The four guest bedrooms are generously proportioned and consist of en-suite bathrooms and walk in closets. This estate exhibits an extraordinary and serene setting with manicured grounds, a lit tennis court, private pool, viewing decks, outdoor kitchen and pizza oven making this property perfect for entertaining. Accompanied with Malibu La Costa Beach Club rights make this complete package the ideal Malibu lifestyle.

22201 Carbon Mesa Road, Malibu, CA

22201 Carbon Mesa Road, Malibu, CA

22201 Carbon Mesa Road, Malibu, CA

22201 Carbon Mesa Road, Malibu, CA

22201 Carbon Mesa Road, Malibu, CA

22201 Carbon Mesa Road, Malibu, CA

22201 Carbon Mesa Road, Malibu, CA

22201 Carbon Mesa Road, Malibu, CA

#2       1160 McClellan Drive, Brentwood, CA 90049 with 4 bedrooms, 6 baths, and 5,650 sq.ft. is listed for sale at $4,800,000.

1160 Mc Clellan Dr, Los Angeles, CA 90049

Hidden behind the lush greenery this modern luxurious home has been meticulously designed with the finest quality details. Main floor consist of home office, bright living, dinning, bath, and kitchen. Top floor offers 3 spacious bedroom suites, connected by a large hallway for finest photography and art showcase. Bottom floor has theater room with adjoining powder room and 4th bedroom suite. 3-stop elevator through all levels. This property is a true masterpiece with exquisite Italian wood floors, high ceilings, and wall-to-wall efficient fleetwood pocket doors that create seamless transitions for indoor/ outdoor living. ~It also includes a state of art Crestron Home Automation System with security cameras throughout the property.~ It is a perfect mix of steel, wood, water and lighting

1160 Mc Clellan Dr, Los Angeles, CA 90049

1160 Mc Clellan Dr, Los Angeles, CA 90049

1160 Mc Clellan Dr, Los Angeles, CA 90049

1160 Mc Clellan Dr, Los Angeles, CA 90049

1160 Mc Clellan Dr, Los Angeles, CA 90049

1160 Mc Clellan Dr, Los Angeles, CA 90049

1160 Mc Clellan Dr, Los Angeles, CA 90049


#3      21844 Pacific Coast Highway, Malibu, CA 90265 with 3 bedrooms, 2 baths, and 1,765 sq.ft. is listed for sale at $10,950,000



                       
Meticulously remodeled Carbon Beach jewel. This 3 bedroom, 2 bath home with gated entry and beautiful courtyard leads you to the best location on the beach! Relax and unwind in your private hot tub on the large ocean front deck. Wood flooring throughout, air conditioned, and just steps to the sand. 

21844 Pacific Coast Hwy, Malibu, CA 90265

21844 Pacific Coast Hwy, Malibu, CA 90265

21844 Pacific Coast Hwy, Malibu, CA 90265

21844 Pacific Coast Hwy, 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     6402 East Mercer Way, Mercer Island, WA 98040 with 4 bedrooms, 6 baths,
 and 6,819 sq.ft. is listed for sale at $5,988,000.

6402 E Mercer Way, Mercer Island, WA 98040


Waterfront living at its finest! Classic architecture with a refreshing twist. Under construction with completion in early 2017! Sweeping 180 degree lake views in the spa-like Owners Suite on upper floor. Second Master Suite on main. Elevator accessing 3 floors. The "Lake Room" on lower level is reminiscent of a world class resort where guests move freely between indoor & outdoor spaces for year round entertaining. Terraced lawn leads to new dock with deep water moorage and 75" of Lake WA shoreline.

6402 E Mercer Way, Mercer Island, WA 98040

6402 E Mercer Way, Mercer Island, WA 98040

6402 E Mercer Way, Mercer Island, WA 98040

6402 E Mercer Way, Mercer Island, WA 98040

6402 E Mercer Way, Mercer Island, WA 98040

#2      500 106th Avenue NE  #4105,  Bellevue, WA 98004 with 2 bedrooms, 3 baths, and 3,403 sq.ft. is listed for sale at $3,350,000.

http://ap.rdcpix.com/1895050230/f3cb2d70a70669f227e525eb6c6f2d9fl-m24xd-w1020_h770_q80.jpg
Bellevue Towers Penthouse showcases spectacular views of downtown Seattle, Lake Washington and  Rainier from the 41st floor. Ideally suited for gracious downtown living and entertaining, this home features generous, well-appointed living spaces w/ 10' ceilings and
 2 oversized balconies. Bellevue Towers offers fitness rms, whirlpool spa, dining rm with kitchen, community room theater, outdoor terraces, 1/2 acre park, concierge and all the best of downtown: walk to shopping, dining, downtown park and more

500 106th Ave Ne Unit 4105, Bellevue, WA 98004

500 106th Ave Ne Unit 4105, Bellevue, WA 98004

500 106th Ave Ne Unit 4105, Bellevue, WA 98004

500 106th Ave Ne Unit 4105, Bellevue, WA 98004

500 106th Ave Ne Unit 4105, Bellevue, WA 98004

500 106th Ave Ne Unit 4105, Bellevue, WA 98004

500 106th Ave Ne Unit 4105, Bellevue, WA 98004

#3      10321 NE 55th Street, Kirkland, WA 98033 with 4 bedrooms, 3 baths, and 
3,640 sq.ft. is listed for sale at $2,198,000.

10321 Ne 55th St, Kirkland, WA 98033

A Classic NW Traditional, blending nature with function. Situated hillside w/expansive 
Lake Washington, Olympic Mt, city views. Designed interior flow ideal for everyday living. 
Adorned w/ millwork & impeccable window placement, a wash of light throughout. 
Relax w/palette of ever-changing sunsets. Clean lined kitchen with slab granite. 
Den and 2 additional desks with cabineted nooks. Expansive Spa like Master Suite. 
Quiet cul-de-sac, top-ranked schools, easy walk to waterfront Kirkland, a sanctuary
 offering convenience.

10321 Ne 55th St, Kirkland, WA 98033

10321 Ne 55th St, Kirkland, WA 98033

10321 Ne 55th St, Kirkland, WA 98033

10321 Ne 55th St, Kirkland, WA 98033

10321 Ne 55th St, Kirkland, WA 98033

10321 Ne 55th St, Kirkland, WA 98033

10321 Ne 55th St, Kirkland, WA 98033

Today's Mortgage Rates                                                                     12 months
ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.43%3.47%-0.043.34%4.11%
15 Yr FRM2.79%2.82%-0.032.69%3.30%
FHA 30 Year Fixed3.25%3.30%-0.053.15%3.75%
Jumbo 30 Year Fixed3.59%3.62%-0.033.41%3.93%
5/1 Yr ARM2.87%2.85%+0.022.80%3.10%
Updated: 9/22/16 1:52 PM




Mortgage Rates made more substantial gains today, after financial markets had more time to react to yesterday's announcement from the Federal Reserve.  Although the Fed held its policy rate steady, the bigger story was a sharp downgrade in the longer term rate outlook.  In short, the Fed sees interest rates remaining "lower for longer."  They increasingly confirm this stance with their updated forecasts.  

Although mortgage rates don't directly follow the Fed Funds rate, they are sensitive to changes in the expected path of the Fed's rate.  With the Fed downgrading its rate hike expectations, mortgage rates have fallen.  We likely would have seen more of a move yesterday, but with the Fed announcement happening in the afternoon, it doesn't leave as much time for lenders to react.  Today's gains are partly due to those lenders getting "caught up," but there has been further improvement in financial markets as well.  

Some of the more aggressive lenders are getting back to quoting 3.375% on top tier conventional 30yr fixed scenarios.

Loan Originator Perspective


Markets have digested yesterday's Fed Statement and press conference, and breathed sighs of relief as there were no references to looming inflation or booming economies.  Pricing improved yesterday PM, and has done so again today, although the moves are not huge.  One scenario I've been watching improved 25 bps in pricing since Tuesday AM, which beats losing 25 bps.  I'll float new applications for the moment, think we've got a little room for further improvement. -Ted Rood, Senior Originator

Today's Best-Execution Rates

  • 30YR FIXED - 3.375- 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