Friday, October 7, 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  "The Manor",   594 S Mapleton, LA-Holmby Hills, CA with 14 bedrooms, 27 baths, 56,500 sq.ft. is newly renovated and back on the market for $200,000,000.

the-manor-594-s-mapleton-dr-holmby-hills-ca-90024

“The Manor” located is now owned by Petra Stunt (Ecclestone), the daughter of billionaire Bernie Ecclestone is back on the markwt.  Petra purchased the home from Candy Spelling in 2010.  She then completely remodeled it; giving a fresh new and modern look. In 2014, she quietly put it on the market for $150 million, but didn’t find any buyers.The 123-room home is located in the exclusive Holmby Hills neighborhood and was built by the late media mogul Aaron Spelling. It features a  2-story foyer with grand double staircase, formal living and dining rooms, gourmet kitchen with 3 islands, library, salon and spa, home theater, billiards room, bowling alley, gym, 17,000 square foot attic, garage and much more. Outdoor features include a gated entrance, motor court with fountain, loggias and terraces, swimming pool with spa and more.





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Image result for Petra Ecclestone Spelling Mansion

Image result for The Manor Remodel

Image result for Petra Ecclestone Spelling Mansion

Image result for The Manor Remodel

Image result for The Manor Remodel

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#2       3006 Sandy Lane, Del Mar, CA 92014 with 6 bedrooms, 7 baths, and 3,950 sq.ft. is listed for sale at $15,995,000.

3006 Sandy Ln, Del Mar, CA 92014

Nestled in an exclusive gated community on the sand, this fully remodeled, ocean front compound offers the ultimate privacy. Entertain and enjoy dining al fresco in the courtyard, or catch the sunset on the expansive ocean front deck spanning 50 ft. Walls of glass line the westward facing walls of the home offering breathtaking panoramic ocean views throughout. Master retreat boasts balcony & his/hers separate wings w/ oversized closets/bathrooms. The luxury of ocean front living awaits!

3006 Sandy Ln, Del Mar, CA 92014

3006 Sandy Ln, Del Mar, CA 92014

3006 Sandy Ln, Del Mar, CA 92014

3006 Sandy Ln, Del Mar, CA 92014

3006 Sandy Ln, Del Mar, CA 92014

3006 Sandy Ln, Del Mar, CA 92014

3006 Sandy Ln, Del Mar, CA 92014

3006 Sandy Ln, Del Mar, CA 92014


#3     400 S Mashta Drive, Key Biscayne, Florida with 5 bedrooms, 7 baths, and  
9,619 sq.ft. is listed for sale at $39,000,000.

400 S Mashta Dr, Key Biscayne, FL 33149

Coined The 1000 Year House by renowned architect Charles Pawley. Strategically built on a 38k square feet peninsula with 480 feet of waterfront on prestigious Mashta Island. Unimpeded wide panoramic views of the ocean, Bill Baggs Park, Cape Florida Light House and Stiltsville. This 12k square feet home is comprised of 5 bedrooms/6.5 baths which include 2 master bedrooms, theater, gym, library and staff qtrs. Covered gazebo and massive terraces with a resort pool/spa. Protected deep water dock accommodates a 100 plus foot yacht.

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149

400 S Mashta Dr, Key Biscayne, FL 33149



Today's Real Estate News 

Think U.S. Home Prices Are Rising Too Fast? It’s Much Worse in China

Anyone who has tossed a hat into the U.S. home-buying fray lately has most likely been forced to deal with a stark reality: There are simply too few homes on the market. It’s one of the prime reasons that closing on the home of your dreams is a costlier prospect than ever before.

But if you think it’s bad here, try finding a place in Shanghai.


–– ADVERTISEMENT ––
In case you haven’t heard, the Chinese real estate market is on fire. U.S. buyers can take (slim) solace in the fact that prices aren’t rising like they are in the Chinese cities of Shenzhen, Shanghai, and Nanjing—the three markets with the fastest-growing home prices on Earth.

Annual prices increased 47.4%, 33.8%, and 31.5% respectively in those metros in the second quarter of the year, according to a recent report from global real estate consulting firm Knight Frank. The report ranked the 150 international metros that experienced the highest annual price hikes. In all, six Chinese metros made the top 10.

Where does the U.S. fit on this list? Despite all the (well-founded) hand-wringing over rising prices, an American city doesn’t appear on the price growth list until the 20th spot—Portland, OR. Prices in the Pacific Northwest metro jumped 12.6% annually, according to the report. The next American city was Seattle, which came in 25th, with an 11.1% hike. Denver earned the 38th spot, with a 9.3% increase.

So what’s driving up the costs in Chinese cities, far beyond their international brethren?

“You’ve got a large amount of wealth being created in China by a burgeoning middle class,” says report author Kate Everett-Allen, a partner in the international residential research team at Knight Frank. “[And] there is still a strong demand fueling price growth.”

Prices have risen to mind-boggling heights in Shenzhen, because it’s very close to Hong Kong and it’s a growing tech hub. In addition to its growing wealth, China is seeing more buyers in its home cities due to its government installing new regulations to make it more difficult for its citizens to make major investments—like real estate—abroad.  And construction isn’t happening fast enough to satiate eager buyers.

“If you rewind 20 years, there was hardly anything [in Shenzhen],” Everett-Allen says. But now “massive demand for a lack of homes is pushing up prices.”

That meteoric price growth might actually be slowing down. Local governments in China are doing their part to ease the pain by adjusting the size of down payments buyers are required to put down, tweaking loan-to-value ratios, and restricting the size of homes buyers can buy based on the size of their families, Everett-Allen says. Regulations vary throughout the country.

China wasn’t the only international market with fast-growing real estate prices.
Budapest had the fourth-highest-rising annual home prices at 23.6% due to its strong economy, says Everett-Allen. Next up was Vancouver, at 23.4%, which scored the fifth spot on the ranking.

They were followed by the Chinese cities of Beijing, at 22.3%; Guangzhou, at 19.4%; and Hangzhou, at 17.4%. Istanbul, at 17.2%, and Haifa, Israel, at 16.3%, rounded out the top 10.

Back in the U.S.: Two of the markets world-renowned for sky-high real estate prices barely made the list at all. San Francisco and New York City, where prices are already so high that there’s not much room for additional growth, came in 58th and 98th respectively.

Portland, Seattle, and Denver are so hot because “there aren’t enough existing homes, and the amount of new construction is not keeping up with population growth,” says realtor.com®‘s chief economist, Jonathan Smoke.

But what goes up, must come down—or at least stabilize.

“The growth can’t continue at that pace, because either the new construction will grow and help address that gap,” he says. “Or demand will slow down … because of the growing unaffordability of housing.”

Prices have been rising in Portland as the city’s population has spiked in the past few years. The new city dwellers are usually attracted to the mild weather, do-it-yourself and outdoorsy culture, and tech jobs in the city, says local Realtor® Dawn Barry-Griffin of Portlandia Properties.

“The rents have gone up so much that it makes sense to buy,” she says of the increases over the past few years. “That’s really a big reason why a lot of people who have been here for the last five years are buying.”

Despite the influx of new residents, home prices are now beginning to soften—particularly in the $500,000-and-up range, Barry-Griffin says.

She’s still seeing multiple offers on more affordable properties under $350,000. However, over the past two months, bids are only typically 1% to 2% over the list prices compared with higher percentages just a few months ago.

Median prices in Denver are also starting to come down. They were up 12.99% in September compared with the same time a year ago, but were down 0.57% from a month earlier, according to the Denver Metro Association of Realtors.

“It always slows down this time of year until February,” says Denver Realtor Leo Rowen of Re/Max of Cherry Creek, who typically sees fewer multiple bids in the fall and winter. 

“People are dealing with holidays. The kids are in school.”              

http://rdcnewscdn.realtor.com/wp-content/uploads/2016/10/global-residential-index.jpg




Today's Top Three San Diego Luxury Estates
sandiegorealestateflashreport.com



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The median home value in San Diego County is $516,200. San Diego County home values have gone up 5.2% over the past year and Zillow predicts they will rise 1.9% within the next year.         

The median home value in La Jolla is $1,685,000. La Jolla home values have gone up 6.1% over the past year and Zillow predicts they will rise 2.1% within the next year.

The median home value in Rancho Santa Fe is $2,727,800. Rancho Santa Fe home values have declined -0.5% over the past year and Zillow predicts they will rise 1.9% within the next year


#1     6682 Las Arboledas, Rancho Santa Fe, CA 92067 with 6 bedrooms, 11 baths, and 14,503 sq.ft. is listed for sale at $8,750,000.

6682 Las Arboledas, Rancho Santa Fe, CA 92067

Set behind gates on a long and private drive in Rancho Del Lago, one of Rancho Santa Fe's most coveted addresses, showcasing panoramic Southwest views on 5.2 luxurious hilltop acres. The main residence features floor to ceiling windows and doors that allow sunlight to bathe most rooms. Encompassing 6 luxurious bedroom suites with a private and sumptuous master suite with his and her custom fitted private baths and well-appointed dressing rooms along with commanding views.

6682 Las Arboledas, Rancho Santa Fe, CA 92067

6682 Las Arboledas, Rancho Santa Fe, CA 92067

6682 Las Arboledas, Rancho Santa Fe, CA 92067

6682 Las Arboledas, Rancho Santa Fe, CA 92067

6682 Las Arboledas, Rancho Santa Fe, CA 92067

6682 Las Arboledas, Rancho Santa Fe, CA 92067

6682 Las Arboledas, Rancho Santa Fe, CA 92067

6682 Las Arboledas, Rancho Santa Fe, CA 92067

#2      5749 Dolphin, La Jolla, CA 92037 with 4 bedrooms, 5 baths, and 3,008 sq.ft. 
is listed for sale at $3,199,995.

5749 Dolphin Pl, La Jolla, CA 92037

Elegant Spanish style villa perched above La Jolla's prestigious Bird Rock cove. This home boasts panoramic views of the ocean from almost every room. Beautiful great room with beamed ceilings, solid birch hardwood flooring, and large bay windows with breathtaking ocean views. Chef`s kitchen with custom European cabinetry, Viking, Monogram professional grade stainless appliances, wine cooler, and granite counters. Relax or entertain guests on the 500 sqft rooftop deck with stunning panoramic ocean views

5749 Dolphin Pl, La Jolla, CA 92037

5749 Dolphin Pl, La Jolla, CA 92037

5749 Dolphin Pl, La Jolla, CA 92037

5749 Dolphin Pl, La Jolla, CA 92037

5749 Dolphin Pl, La Jolla, CA 92037



#3      6209 Beaumont Avenue, La Jolla, CA 92037 with 4 bedrooms, 3 baths, and 
3,600 sq.ft. is listed for sale at $2,795,000.

6209 Beaumont Ave, La Jolla, CA 92037

Gorgeous newly-modeled home on a lush 10,300 sq.ft. lot. Stylishly modern, every detail is thought of. The welcoming backyard offers a fireplace and outside dining area as well as a koi pond and fountain - an entertainer's dream. Peekaboo views of Ocean on main level and full ocean views from upstairs bedroom. This is a light, bright ray of sunshine of a home! Don't miss it!

6209 Beaumont Ave, La Jolla, CA 92037

6209 Beaumont Ave, La Jolla, CA 92037

6209 Beaumont Ave, La Jolla, CA 92037

6209 Beaumont Ave, La Jolla, CA 92037


6209 Beaumont Ave, La Jolla, CA 92037


Today's Top Three San Francisco Luxury Estates
sanfranciscorealestateupdates.com


The median home value in San Francisco is $1,104,000. San Francisco home values have gone up 0.6% over the past year and Zillow predicts they will fall -0.4% within the next year. 

The median home value in Sausalito is $1,203,400. Sausalito home values have gone up 6.6% over the past year and Zillow predicts they will rise 0.9% within the next year. 

The median home value in Tiburon is $2,360,800. Tiburon home values have gone up 2.6% over the past year and Zillow predicts they will fall -0.0% within the next year.

The median home value in Saratoga is $2,331,600. Saratoga home values have gone up 1.1% over the past year and Zillow predicts they will fall -1.1% within the next year.

#1        2572 Greenwich Street, San Francisco-Cow Hollow, CA 94123 with
4 bedrooms, 4 baths, and 4,221 sq.ft. is listed for sale at $6,550,000. 

2572 Greenwich St, San Francisco, CA 94123

Beautifully executed, stylish and well-designed home, situated on a tree-lined flat block in Cow Hollow close to Chestnut and Union streets. Enjoy unobstructed views of the Bay and Tiburon through the gracious living room to the dining area and into the open plan kitchen, family area and terrace. Upstairs are three bedrooms and two and one half bathrooms, including a wonderful master suite with a walk-out view deck. The lower level family room has soaring ceilings, a bar and French doors out to the level yard. Great ceiling height and windows on three sides make for an incredible volume of livable space throughout the property. Remodeled for intuitive, stylish and modern living, we invite you to make this magnificent house your home


2572 Greenwich St, San Francisco, CA 94123



2572 Greenwich St, San Francisco, CA 94123

2572 Greenwich St, San Francisco, CA 94123

2572 Greenwich St, San Francisco, CA 94123

2572 Greenwich St, San Francisco, CA 94123

2572 Greenwich St, San Francisco, CA 94123

2572 Greenwich St, San Francisco, CA 94123

#2     1879 Funston Avenue, San Francisco-Golden Gates Heights with 4 bedrooms, 
5 baths, and 4,810 sq.ft. is listed for sale at $2,995,000.

1879 Funston Ave, San Francisco, CA 94116

Shangri-La in the Sunset-All 4 levels with ocean views. Exquisitely remodeled GG Heights contemporary home of 4,800+ Sq.Ft. Ideal for a family who is looking for 4 bed/2bath on the top floor w/ith additional guest suite, full bath & office on the lowermost floor! Top floor also features master bedroom with master bath, walk-in closet and laundry room. Spacious living room w/ fireplace and dining room facing the Panoramic Ocean view on the main level. Lower level offers an entrainment area w/ fireplace, wet bar, children's play space, exercise area, and sauna w/ attached full bath. 2 fireplaces, a 2 car garage, and top of the line Viking appliances.

1879 Funston Ave, San Francisco, CA 94116

1879 Funston Ave, San Francisco, CA 94116

1879 Funston Ave, San Francisco, CA 94116

1879 Funston Ave, San Francisco, CA 94116

1879 Funston Ave, San Francisco, CA 94116

1879 Funston Ave, San Francisco, CA 94116


#3      83 Round Hill Road, Tiburon, CA 94920 with 5 bedrooms, 5 baths, and 
4,890 sq.ft. is listed for sale at $4,850,000.

83 Round Hill Rd, Tiburon, CA 94920

Comfortable resort-style living at this gated estate located at the end of a private drive. This striking contemporary residence is situated on a wooded lot with filtered views of Belvedere Island and the lagoon. Lush landscaping accentuated with terraced gardens and and manicured lawn, combined with magnificent oak trees, extensive walkways and bridges over a seasonal creek, bocce court, pool with water fall, spa and a detached guest house.

83 Round Hill Rd, Tiburon, CA 94920

83 Round Hill Rd, Tiburon, CA 94920

83 Round Hill Rd, Tiburon, CA 94920

83 Round Hill Rd, Tiburon, CA 94920

83 Round Hill Rd, Tiburon, CA 94920

83 Round Hill Rd, Tiburon, CA 94920

83 Round Hill Rd, Tiburon, CA 94920



Today's Top Three LA Luxury Estate
larealestateupdates.blogspot.com



The median home value in Los Angeles County is $532,800. Los Angeles County home values have gone up 6.3% over the past year and Zillow predicts they will rise 0.9% within the next year

The median home value in Malibu is $2,500,600. Malibu home values have declined -0.8% over the past year and Zillow predicts they will fall -0.7% within the next year.

The median home value in Beverly Hills is $2,998,500. Beverly Hills home values have gone up 4.7% over the past year and Zillow predicts they will rise 0.2% within the next year.

The median home value in Bel Air is $3,118,800. Bel Air home values have gone up 3.8% over the past year and Zillow predicts they will rise 0.7% within the next year.


#1     457 Rockingham Avenue, Brentwood, CA 90049 with 7 bedrooms, 8 baths, and 12,003 sq.ft. is listed for sale at $17,500,000.

457 N Rockingham Ave, Los Angeles, CA 90049

Tucked behind private gates and hedges, a magnificent estate in Brentwood Park offers unparalleled elegance and comfort. A refined foyer opens to exquisite interiors featuring soaring ceilings, oak floors, wainscoting and French doors. Main level spaces have canyon 
views and include a great room and formal dining room with double fireplace, sitting room, office and playroom, all seamlessly integrated with sliding pocket doors. Chef's kitchen includes eat-in island, butler's pantry and deco wet bar. Upstairs features open mezzanine with spacious bedrooms boasting walk-in closets and newly upgraded bathrooms. Master suite features sitting room, dual baths, dressing rooms and terrace. Backyard boasts two tiers of entertaining space including deck with lounge seating, pool, spa, and cabana with sitting area and both indoor and outdoor showers. Additional features include a guest apt., gym, screening room, billiards room, wine cellar, designer light fixtures and Wolf and Miele appliances.

457 N Rockingham Ave, Los Angeles, CA 90049

457 N Rockingham Ave, Los Angeles, CA 90049

457 N Rockingham Ave, Los Angeles, CA 90049

457 N Rockingham Ave, Los Angeles, CA 90049

457 N Rockingham Ave, Los Angeles, CA 90049

457 N Rockingham Ave, Los Angeles, CA 90049


#2      1140 Brooklawn Drive, Bel Air, CA 90077 with 3 bedrooms, 4 baths, and 
3,743 sq.ft. is listed for dale at #3,895,000

1140 Brooklawn Dr, Los Angeles, CA 90077

Unbelievable value and opportunity to live in Holmby Hills in this exceptional gated family estate with a classic design and mid century flair. From the moment you enter you are met with vast living spaces, Great Room with soaring ceilings and walls of windows that wash the home with natural light and lead to an entertainers private garden patio. Wonderful formal dining room and a large eat in kitchen with fireplace. There are 2 bedrooms down including the master suite with a sumptuous custom designed master bathroom and huge walk-in closet. There is a second floor with a guest room or could be a private office. Enjoy luxury living at its best!

1140 Brooklawn Dr, Los Angeles, CA 90077

1140 Brooklawn Dr, Los Angeles, CA 90077

1140 Brooklawn Dr, Los Angeles, CA 90077

1140 Brooklawn Dr, Los Angeles, CA 90077

1140 Brooklawn Dr, Los Angeles, CA 90077

 #3       30333 Morning View Drive, Malibu, CA 90265 with 8 bedrooms, 9 baths, and 12,340 sq.ft. is listed for sale at $14,995,000.

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Malibu panoramic ocean view equestrian estate set on approx. over 5.4 flat acres. Exceptional access to riding trails, on property and in neighborhood, as well as a short distance to organic grocery, restaurants and Starbucks. Estate is agriculturally zoned and has a picturesque barn with 10 stalls and a 16 ft center isle, combined with flat acreage and big ocean views, make it a one-of-a kind Malibu property in coveted Malibu Park. Private and serene, this estate is grand in scale. Once inside, you are greeted with a spectacular 2 story entry with sweeping double staircase-reminiscent of the Plaza Hotel in NYC. This home features a one of a kind Ballroom that is known to be one of the largest residential rooms in Malibu. The Ballroom is over 3 stories high, has magnificent ocean views, seats over 300 people and has been used by many famous singers as a recording studio because of its unparalleled acoustics. As well, there is approx. over 12,000 square feet of living space, 8 bed and 9 bath. A must see.

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Today Top Three Seattle Luxury Estates
seattleluxuryrealestateupdates.com


The median home value in Kirkland is $576,800. Kirkland home values have gone up 14.6%  over the past year and Zillow predicts they will rise 7.1% within the next year. 

The median home value in Seattle is $592,200. Seattle home values have gone up 15.3% over the past year and Zillow predicts they will rise 6.9% within the next year. 

The median home value in Bellevue is $730,000. Bellevue home values have gone up 13.6% over the past year and Zillow predicts they will rise 5.9% within the next year.

The median home value in Mercer Island is $1,240,400. Mercer Island home values have gone up 12.2% over the past year and Zillow predicts they will rise 6.4% within the next year.

The median home value in Clyde Hill is $2,200,500. Clyde Hill home values have gone up 10.1% over the past year and Zillow predicts they will rise 5.5% within the next year. 

The median home value in Medina is $2,389,900. Medina home values have gone up 12.8% over the past year and Zillow predicts they will rise 5.1% within the next year.



#1       166 Boundary Lane NW Seattle, WA 98177 with 8 bedrooms, 8 baths 
and 11,240 sq.ft. is now reduced from $7,200,000 to $5,800,000.

166 Boundary Ln Nw, Seattle, WA 98177

Pedigree and Provenance in The Highlands. Considered among Elizabeth Ayer's most distinguished commissions, Chapel Lane is a truly iconic estate. Over 11,000 sq ft, 8 BRs and two generations of exquisitely evolved interiors by Parish Hadley, representing an unprecedented culmination of design and craftsmanship set amidst 4 Acres of spectacular natural splendor. Chapel Lane stands as a testament to a legacy and presence that can only evolve through years of passionate and dedicated stewardship.

166 Boundary Ln Nw, Seattle, WA 98177

166 Boundary Ln Nw, Seattle, WA 98177

166 Boundary Ln Nw, Seattle, WA 98177

166 Boundary Ln Nw, Seattle, WA 98177

166 Boundary Ln Nw, Seattle, WA 98177

166 Boundary Ln Nw, Seattle, WA 98177

166 Boundary Ln Nw, Seattle, WA 98177

166 Boundary Ln Nw, Seattle, WA 98177


166 Boundary Ln Nw, Seattle, WA 98177


#2       9723 NE 13th Street, Clyde Hills, WA 98004 with 5 bedrooms, 6 baths, and
5,545 sq.ft. is listed for sale at $3,478,000

9723 NE 13th St, Clyde Hill, WA

Located in quiet Clyde Hill and close to downtown Bellevue with magnificent Mt. Rainier and city views. Open-circular floor plan with guest suite and office in main, master and 3 bedrooms plus media upper. Total 4 bedrooms suites and the 5th has its own bath. Exquisite finishes and appliances. Wall of retractable glass doors to covered outdoor living featuring BBQ and fireplace: cozy and peaceful. Built in audio and central vac. $80k+ window treatments Excellent Schools nearby. Truly a BEAUTY!

9723 NE 13th St, Clyde Hill, WA

9723 NE 13th St, Clyde Hill, WA

9723 NE 13th St, Clyde Hill, WA



9723 NE 13th St, Clyde Hill, WA



9723 NE 13th St, Clyde Hill, WA


#3     9033 Lake Washington Blvd. NE, Bellevue, WA 98004 with 4 bedrooms, 4 baths, and 6,802 sq.ft. is listed for sale at $6,200,000.

9033 Lake Washington Blvd Ne, Bellevue, WA 98004

This exciting Lake Washington estate lets you experience vacation living every day while being in the center of beautiful Bellevue. This gated luxury estate is bathed with southern light and views over Meydenbauer Bay. A gated entrance ensures your quiet oasis is your private treasure. Timeless mediterranean style, a gracious floor plan with handsome details offers inspiring possibilities. Imagine sunrise on the terrace, tennis on the court or smores at the beach. Great moorage!

9033 Lake Washington Blvd Ne, Bellevue, WA 98004

9033 Lake Washington Blvd Ne, Bellevue, WA 98004

9033 Lake Washington Blvd Ne, Bellevue, WA 98004

9033 Lake Washington Blvd Ne, Bellevue, WA 98004

9033 Lake Washington Blvd Ne, Bellevue, WA 98004

9033 Lake Washington Blvd Ne, Bellevue, WA 98004

Today's Mortgage Rates                                                                     12 month

ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.52%3.52%--3.34%4.11%
15 Yr FRM2.84%2.84%--2.69%3.30%
FHA 30 Year Fixed3.35%3.35%--3.15%3.75%
Jumbo 30 Year Fixed3.67%3.66%+0.013.41%3.93%
5/1 Yr ARM2.91%2.90%+0.012.80%3.10%
Updated: 10/6/16 3:47 PM
Mortgage Rates Are Anything But 'Unchanged'
Oct 6 2016, 4:11PM


Mortgage Rates didn't move much today compared to yesterday's latest levels, but that's the only way to view them as being 'unchanged.'  Even so, as is typical for any Thursday, news media is awash in the mortgage rate headlines resulting from standard-issue repackaging of Freddie Mac's weekly rate report (Freddie puts out the numbers and hundreds of journalists write a story based on those numbers).  At the end of the day, it's only one piece of data that has been redistributed numerous times.

Normally that's not a problem.  If the headlines reflect reality, then it doesn't much matter if hundreds of stories are written about it.  But occasionally the underlying data lags reality due to Freddie's methodology.  That quickly becomes a problem on days like today when rates are, in fact, at their highest levels in more than 3 months, and SIGNIFICANTLY higher than they were a week ago today.  In fact, there are few other weeks in recent memory that have seen rates move higher at a quicker pace.  

The average lender is quoting rates that are at least an eighth of a point higher today compared to last Thursday. Tomorrow brings the important Employment Situation (aka "the jobs report"), which is the most closely-watched labor market metric on any given month.  The jobs report always carries the risk of significant market movement. Between that and the generally elevated rates, it doesn't make much sense to float in this environment.  That will continue to be the case until we see either a big push back toward lower rates, or an extended period (5-10 days at least) of stability at current levels.

Loan Originator Perspective

Tomorrow's almighty jobs report may be the data point that helps rates fall back into the "comfort zone" range, or perhaps the straw that breaks the camel's back, so to speak.  Either way, floating is riskier than normal at the moment, especially if you're hoping to close within 2-3 weeks.  We are in the midst of an uptrend in rates.  It can get much worse before it gets better.  Defense is the only play here.  Loans closing inside of 45 days should consider locking, even though we may bounce from this technical point tomorrow.  -Gus Floropoulos, VP, The Federal Savings Bank

Slip, Slidin' Away may have been a catchy Simon and Garfunkel tune in 1977, but when applied to bonds' recent performance, it's not nearly as appealing.  Both treasuries and MBS lost further ground today as weekly unemployment claims fell dramatically.  There's far more signs of domestic economic growth than distress at the moment, and that's not good for rates.  Floating into tomorrow's NFP jobs report is always risky, can't advise it now, given the recent trend to higher rates.  -Ted Rood, Senior Originator

Today's Best-Execution Rates

  • 30YR FIXED - 3.5-3.625%
  • FHA/VA - 3.25%
  • 15 YEAR FIXED - 2.75-2.875%
  • 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.  Most importantly, have a great day!

      Tom Furino

      email:                 furtree@msn.com 
      phone/text        619-944-8749