Wednesday, December 7, 2016


Today's Best Mansion and Top  Luxury Estates in Los Angeles, Phoenix, 
San Diego, San Francisco and Seattle Listed For Sale.


Image result for mansions

The exact definition of the word "mansion" varies but in U.S. real estate terms, it generally defined as single family residence of more than 6,000 square feet. Mansion derives through Old French from the Latin word "mansio". The English word "manse" originally defined a property large enough for the parish priest to maintain himself. The word "manor" comes from the same root territorial holdings granted to a lord who would remain there. Therefore, it is easy to see how a "mansion" came to have its meaning.    


Today's Best Mansion
www.todaysbestmansionsforsale.com  
  
#1     4609 Pine Tree Drive, Miami Beach, FL with 9 bedrooms, 11 bathrooms, and 20,192 sq.ft. is listed for sale at $29,500,000.


This exclusive limestone estate is the latest edition to Pine Tree Drive. Designed with elegance including the furnishings of Holly Hunt & Christian Liagre, carefully selected wall treatments, millwork and exquisite textiles by Holly Hunt. The residence embodies a refreshing emphasis on the value of meditation with Curmaru wood overhangs and mahogany windows & doors. 4609, houses a courtyard and garden with Savant sound systems and a 2 level gazebo with a full kitchen, bathroom, outdoor shower and fireplace.







Today's Top Real Estate News

13 Things That Will Trash Your Home's Value

For many of us, a home is the biggest investment we'll ever make - yet most Americans are clueless about their home's value, including the things that can ruin it.

From unappealing renovations to an unfortunately placed sinkhole, numerous factors can devalue your greatest investment.We've rounded up 13 threats that could dampen your home's value.

Sinkhole damage

Image result for sinkhole damage

While there's insurance coverage specifically for sinkhole damage in case your property is hit by one, they still hurt property values.

"It definitely stigmatizes the property," Rob Arnold, a Florida real-estate investor and realtor who has bought and sold more than 30 sinkhole properties in the last five years, told CF13 News. He tells owners of damaged homes to knock 30% off their asking price, plus the cost of any repairs.

City dumps and power plants.

<p> When researchers looked at five municipal landfills near residential property in Cleveland, Ohio, they found the stench was enough to drag down property values by <strong><a href="http://aresjournals.org/doi/abs/10.5555/rees.7.3.g168q57862h2t2ht">5.5% to 7.3%</a></strong>. Landfills are most hurtful in populated, expensive, residential areas. The effect was basically nonexistent in sparse, rural areas.</p><p> Likewise, the University of California at Berkeley found that homes within 2 miles of a power plant drop <strong>3% to 7%</strong> in value.</p>

When researchers looked at five municipal landfills near residential property in Cleveland, Ohio, they found the stench was enough to drag down property values by 5.5% to 7.3%. Landfills are most hurtful in populated, expensive, residential areas. The effect was basically nonexistent in sparse, rural areas.

Likewise, the University of California at Berkeley found that homes within 2 miles of a power plant drop 3% to 7% in value.

Hoarders or messy neighbors

<p> If your neighbors' homes and yards look sloppy, home shoppers tend to put a lower value on your home.</p><p> A nearby property's overgrown yard, peeling paint, and clutter can easily knock <strong>5% to 10%</strong> off the sale price of your home, <a href="http://sensationalhomestaging.homestead.com/neighbors_hurt_your_home.pdf"> Joe Magdziarz</a>, president of the Appraisal Institute and a real-estate appraiser with 40 years of experience, <a href="http://sensationalhomestaging.homestead.com/neighbors_hurt_your_home.pdf"> told MSN Money</a>.</p>

If your neighbors' homes and yards look sloppy, home shoppers tend to put a lower value on your home.A nearby property's overgrown yard, peeling paint, and clutter can easily knock 5% to 10% off the sale price of your home, Joe Magdziarz, president of the Appraisal Institute and a real-estate appraiser with 40 years of experience, told MSN Money.


Noisy neighbor

<p> Noisy neighbors are just as likely to scare off homebuyers as messy neighbors.</p><p> "I've seen many situations where external factors, such as living near a bad neighbor, can lower home values by more than <strong>5% to 10%</strong>," <a href="http://www.appraisalinstitute.org/bad-neighbors-can-reduce-property-values-appraisal-institute-warns/"> says Appraisal Institute President Richard L. Borges</a> on Appraisal Institute's blog. "Homeowners should be aware of what is going on in their neighborhood and how others' bad behaviors could affect their home's value."</p>

Noisy neighbors are just as likely to scare off homebuyers as messy neighbors.

"I've seen many situations where external factors, such as living near a bad neighbor, can lower home values by more than 5% to 10%," says Appraisal Institute President Richard L. Borges on Appraisal Institute's blog. "Homeowners should be aware of what is going on in their neighborhood and how others' bad behaviors could affect their home's value."

Foreclosure graveyards

<p> Foreclosures are eyesores and can easily drive down the value of your home.</p><p> Across America, foreclosures were found to cause an average <a href="http://www.nytimes.com/2009/06/14/realestate/mortgages/14mort.html"><strong>$7,200</strong> price decline</a> for every nearby home. Another study found that homeowners living within 300 feet of a foreclosed residential property <a href="http://www.nytimes.com/2009/06/14/realestate/mortgages/14mort.html?_r=0"> experienced a <strong>1.3%</strong> decline in home value</a> - and those 300 to 500 feet away saw a drop of 0.6%.</p>

Foreclosures are eyesores and can easily drive down the value of your home.
Across America, foreclosures were found to cause an average $7,200 price decline for every nearby home. Another study found that homeowners living within 300 feet of a foreclosed residential property experienced a 1.3% decline in home value - and those 300 to 500 feet away saw a drop of 0.6%.

Fracking

<p> If you live in a fracking hotspot - fracking is a controversial method of extracting shale gas - your property value may be threatened.</p><p> A team of Duke University economists and nonprofit research organization Resources for the Future found that Pennsylvania homeowners who used local groundwater for drinking <a href="http://www.mcclatchydc.com/2012/11/06/173814/fracking-can-hurt-property-values.html#.UYv6jytxuGo">lost up to <strong>24%</strong> of their property value</a> if they lived within 1.25 miles of a shale gas well.</p><p> And that's even without solid evidence that fracking really poses a threat to drinking water. Public perception alone is enough to drive down home values.</p>

If you live in a fracking hotspot - fracking is a controversial method of extracting shale gas - your property value may be threatened.A team of Duke University economists and nonprofit research organization Resources for the Future found that Pennsylvania homeowners who used local groundwater for drinking lost up to 24% of their property value if they lived within 1.25 miles of a shale gas well.

And that's even without solid evidence that fracking really poses a threat to drinking water. Public perception alone is enough to drive down home values.




Registered sex offender

<p> The publicly available <a href="http://www.nsopw.gov/Core/Portal.aspx?AspxAutoDetectCookieSupport=1">National Sex Offender Registry</a> is one way to vet your neighbors, but it's also made it easier for interested buyers to vet homes before moving in as well. Sex offenders have been proven to drive down property values.</p><p> Houses next door to a registered sex offender dropped by up to <strong>12%</strong>, according to a 2008 <a href="http://www.leighlinden.com/Megans_Law_AER.pdf">study</a> by the American Economic Review.</p>

The publicly available National Sex Offender Registry is one way to vet your neighbors, but it's also made it easier for interested buyers to vet homes before moving in as well. 

Sex offenders have been proven to drive down property values.


Houses next door to a registered sex offender dropped by up to 12%, according to a 2008 study by the American Economic Review.




Billboards

<p> In "<a href="http://www.scenic.org/storage/PDFs/Beyond_Aesthetics.pdf">Beyond Aesthetics: How Billboards Affect Economic Prosperity,</a>" urban planner Jonathan Snyder found that homes within 500 feet of a billboard were worth <strong>$30,826 less</strong> on average at the time of sale than others farther away.</p><p> On the flip side, areas where communities implemented strict billboard controls had higher median incomes, lower poverty rates, and lower home-vacancy rates.</p>

In "Beyond Aesthetics: How Billboards Affect Economic Prosperity," urban planner Jonathan Snyder found that homes within 500 feet of a billboard were worth $30,826 less on average at the time of sale than others farther away.

On the flip side, areas where communities implemented strict billboard controls had higher median incomes, lower poverty rates, and lower home-vacancy rates.


Bad schools

<p> School quality is often a top priority for homebuyers, and that means neighborhoods almost always benefit from being in close proximity to the cream of the crop.</p><p> A <a href="http://research.stlouisfed.org/publications/review/10/05/Chiodo.pdf">2010 study</a> by the St. Louis Federal Reserve Bank found that "the price premium from school quality remains substantially large, particularly for neighborhoods associated with high-quality schools."</p><p> Unfortunately, the flip side of this scenario is that neighborhoods near closed-down or low-ranking schools are less attractive and tend to see their property values lowered.</p>

School quality is often a top priority for homebuyers, and that means neighborhoods almost always benefit from being in close proximity to the cream of the crop.

2010 study by the St. Louis Federal Reserve Bank found that "the price premium from school quality remains substantially large, particularly for neighborhoods associated with high-quality schools."


Unfortunately, the flip side of this scenario is that neighborhoods near closed-down or low-ranking schools are less attractive and tend to see their property values lowered.


Certain renovations

<p> While many renovations add to a home's resale value, <a href="http://www.businessinsider.com/renovations-that-could-destroy-your-homes-resale-value-2015-8?utm_source=msn.com&utm_medium=referral&utm_content=msn-slideshow&utm_campaign=bodyurl"> certain renovations can actually make your home less attractive to potential buyers</a>.</p><p> For example, adding a pool, particularly in places with cooler climates, could turn off home shoppers who don't want to deal with the expensive upkeep. In a similar vein, going overboard on landscaping or gardening can hurt you if buyers see it as too much maintenance to deal with.</p>

While many renovations add to a home's resale value, certain renovations can actually make your home less attractive to potential buyers.

For example, adding a pool, particularly in places with cooler climates, could turn off home shoppers who don't want to deal with the expensive upkeep. In a similar vein, going overboard on landscaping or gardening can hurt you if buyers see it as too much maintenance to deal with.

Unusual colors

<p> The color of your home is one of the first things a buyer will notice. If it stands out in your neighborhood, it could torpedo your home's selling price.</p><p><a href="http://www.realtor.com/advice/10-interior-design-trends-turn-off-home-buyers/"> The same goes for the interior</a>. A bright-pink living room could discourage potential buyers, as they may not be able to picture themselves in that home.</p>

The color of your home is one of the first things a buyer will notice. If it stands out in your neighborhood, it could torpedo your home's selling price.

The same goes for the interior. A bright-pink living room could discourage potential buyers, as they may not be able to picture themselves in that home.


Too many upgrades

<p> Location plays a huge role in your home's value, and similarly sized homes in the same area usually sell for around the same amount - regardless of fancy upgrades such as pools or outdoor kitchens. According to <a href="http://realestate.usnews.com/real-estate/articles/whats-dragging-down-the-value-of-your-home/"> U.S. News & World Report</a>, similar homes in the same subdivision typically sell within a 20% price range of each other.</p><p> Spending $100,000 on extras doesn't necessarily mean that the house will sell for $100,000 more, and, depending on the additions, they can make the home less attractive to prospective buyers.</p>

Location plays a huge role in your home's value, and similarly sized homes in the same area usually sell for around the same amount - regardless of fancy upgrades such as pools or outdoor kitchens. According to U.S. News &amp; World Report, similar homes in the same subdivision typically sell within a 20% price range of each other.

Spending $100,000 on extras doesn't necessarily mean that the house will sell for $100,000 more, and, depending on the additions, they can make the home less attractive to prospective buyers.



Noise pollution


<p> If your home is close to a highway, train tracks, or an airport, the constant noise from cars zooming by, trains rattling past, and planes landing can be distracting, thus <a href="http://www.propertyshark.com/Real-Estate-Reports/2014/08/25/airport-noise-affects-residential-sale-prices-queens-bronx/"> dragging down the resale value</a> of the house.</p><p> "There is a statistically significant negative relationship between airport noise and residential property values," according to a <a href="https://www.researchgate.net/publication/4736706_The_Effects_of_Airport_Noise_on_Residential_Property_Values"> study from ResearchGate</a>.</p>

If your home is close to a highway, train tracks, or an airport, the constant noise from cars zooming by, trains rattling past, and planes landing can be distracting, thus dragging down the resale value of the house.

There is a statistically significant negative relationship between airport noise and residential property values.









Today's Top LA Luxury Estate

http://s3.amazonaws.com/medias.photodeck.com/a45c171a-8b44-11e3-ae03-07f23d345dbd/MG-5279-Los-Angeles-Skyline-Photo_xgaplus.jpg


The median home value in Los Angeles County is $542,600. Los Angeles County home values have gone up 7.1% over the past year and Zillow predicts they will rise 1.8% within the next year. 

The median home value in Brentwood, 90049 is $2,420,500. 90049 home values have gone up 8.4% over the past year and Zillow predicts they will rise 1.7% within the next year.


The median home value in Malibu is $2,782,400. Malibu home values have gone up 3.5% over the past year and Zillow predicts they will rise 0.6% within the next year.


The median home value in Beverly Hills is $2,930,800. Beverly Hills home values have gone up 1.9% over the past year and Zillow predicts they will rise 0.4% within the next year.

The median home value in Bel Air is $3,258,800. Bel Air home values have gone up 4.1% over the past year and Zillow predicts they will rise 0.8% within the next year

#1     9108 Leander Place, Beverly Hills, CA 90210 with 5 bedrooms, 7 baths, and 
5,350 sq.ft. is listed for sale at $5,545,000.



The ultimate contemporary hi-tech residence in Beverly Hills where James Bond, or Jane would retreat and thrive. Innovative security, privacy and design incorporate a feng shui harmonic plan for peaceful relaxation&amp; beauty. The exterior is Venetian plaster, not stucco, with stainless steel trim, not wood, and a Japanese tile roof to adorn the top. Gated motorcourt entry with river rock inlaid surface. Interiors outfitted with Limestone floors and numerous Fleetwood doors leading to a glass-tiled solar powered Pool &amp; Grill. Sleek chef's Kitchen w/ Gaggenau appliances &amp; eat-in Bar. Multiple bedroom suites arrange flexibly for extended families. Residence uniquely allows for 2 self-contained Guest Apartments within the home, via separate entry. Dramatic views observed from most rooms taking in mountains, Ocean and shimmering cityl ights at night. Water Purification system and power generator join long list of special amenities offered.

9108 Leander Pl, Beverly Hills, CA 90210



9108 Leander Pl, Beverly Hills, CA 90210





























9108 Leander Pl, Beverly Hills, CA 90210




Today's Top Phoenix Luxury Estate
Image result for phoenix skyline photos
The median home value in Scottsdale is $413,200. Scottsdale home values have gone up 4.3% over the past year and Zillow predicts they will rise 1.8% within the next year.

The median home value in Carefree is $729,500. Carefree home values have gone up 3.6%         over the past year and Zillow predicts they will rise 1.7% within the next year.


The median home value in Paradise Valley is $1,590,000. Paradise Valley home values have gone up 1.8% over the past year and Zillow predicts they will rise 1.4% within the next year.
#1     6501 N 40th Place, Paradise Valley, AZ 85253 with 5 bedrooms, 8 baths, and 9,092 sq.ft. is listed for sale at $3,249,000.










A rare opportunity in the heart of the city, this modern masterpiece awaits. Nestled in the SW foothills of Paradise Valley, this private residence is tucked away with spectacular views of renowned Camelback Mountain, Downtown Phoenix and beyond. Designed for entertaining, the generous layout includes a magnificent great room with finely appointed kitchen, dining room with retractable glass walls with wet bar and wine storage and a family room surrounding a statement fireplace and glass walls to the outdoors. You'll envy the master retreat with spa style bath and walk-in closet, spacious en-suite guest bedrooms and an upstairs bonus room with wrap-around walk-out balcony. Pavered driveways, lush landscaping and pool with water feature help capture city living at its best.













Today's Top San Diego Luxury Estates

Image result for san diego skyline pictures


The median home value in San Diego County is $524,900. San Diego County home values have gone up 6.4% over the past year and Zillow predicts they will rise 2.1% within the next year.

The median home value in La Jolla, 92037 is $1,464,200. La Jolla, 92037 home values have gone up 2.6% over the past year and Zillow predicts they will rise 1.4% within the next year

The median home value in Solana Beach 92075 is $1,326,500. Solana Beach 92075 home values have gone up 10.8% over the past year and Zillow predicts they will rise 3.0% within the next year.

The median home value in Del Mar, 92014 is $1,598,800. Del Mar, 92014 home values have gone up 6.2% over the past year and Zillow predicts they will rise 2.3% within the next year.


The median home value in Rancho Santa Fe is $2,639,500. Rancho Santa Fe home values have declined -5.2% over the past year and Zillow predicts they will fall -1.7% within the next year.


#1     6546 La Valle Plateada, Rancho Santa Fe, CA 92067 with 7 bedrooms, 7 baths, and 9,341 sq.ft. is listed for sale at $8,900,000.



This most stunning home is sequestered behind gates offers privacy, impeccable design, artisan touches, incredible function with a wonderful dose of personality. Spectacular single level floor plan, true indoor/outdoor living, huge master wing, proper office/library, kids wing, guest wing, wine cellar (hidden), pub, exercise/yoga pavilion, regulation tennis court, resort style pool with waterfall, slide, spa, and torches. Simply the best that Mankind can provide!









6546 La Valle Plateada, Rancho Santa Fe, CA 92067

6546 La Valle Plateada, Rancho Santa Fe, CA 92067

Today's San Francisco Luxury Estate

Image result for san francisco skyline photos

The median home value in San Francisco is $1,116,300. San Francisco home values have gone up 0.8% over the past year and Zillow predicts they will fall -0.0% within the next year.

The median home value in Sausalito is $1,217,500. Sausalito home values have gone up 3.0% over the past year and Zillow predicts they will rise 1.3% within the next year.             


The median home value in Tiburon is $2,383,000. Tiburon home values have declined -0.1% over the past year and Zillow predicts they will rise 1.2% within the next year.


The median home value in Saratoga is $2,367,600. Saratoga home values have gone up 1.3% over the past year and Zillow predicts they will fall -0.3% within the next year.




#1     125 Prospect Avenue, Sausalito, CA 94965 with 4 bedrooms, 4 baths, and 
2,500 sq.ft.is listed for sale at $2,999,000



Mid-Century Modern w/world class views of SF Bay and City skyline. Indoor/outdoor living w/great room opening to spacious view deck. Floor to ceiling windows. Master suite on its own level w/gorgeous master bath and private deck. Kitchen w/stone peninsula provides an open venue for entertaining. Lg laundry rm and 2 car garage. Gated entry w/fenced private grounds including lush side yd w/lawn. Fine Craftsmanship and designer finishes.











Today's Top Seattle Luxury Estates



Image result for seattle skyline photos


The median home value in Kirkland is $595,300. Kirkland home values have gone up 

 15.6% over the past year and Zillow predicts they will rise 6.6% within the next year.

The median home value in Seattle is $611,500. Seattle home values have gone up 14.4% over the past year and Zillow predicts they will rise 6.3% within the next year.


The median home value in Bellevue is $743,500. Bellevue home values have gone up 13.9% over the past year and Zillow predicts they will rise 5.9% within the next year


The median home value in Mercer Island is $1,296,100. Mercer Island home values have gone up 13.9% over the past year and Zillow predicts they will rise 5.7% 

The median home value in Clyde Hill is $2,218,000. Clyde Hill home values have gone up 12.3% over the past year and Zillow predicts they will rise 6.0% within the next year.

The median home value in Medina is $2,311,900. Medina home values have gone up 10.4% over the past year and Zillow predicts they will rise 4.8% within the next year.

#1      333 11th Place, Kirkland, WA 98033 with 6 bedrooms, 4 baths, and 4,879 sq.ft. is listed for sale at 1,995,000.


Private urban sanctuary with easy access to downtown Kirkland. This lovely property is characterized by stands of mature trees and views of Lake Washington. Built Green 5* home, completely renovated in 2008 to the highest green building standards. The attached large 1-bedroom apartment with kitchen, office, laundry, deck and separate entrance offers private extended living space or potential rental income. Second lot in subdivision process and can be purchased .







Mortgage Rates Daily Update                                                                  52 Week


ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.16%4.17%-0.013.34%4.24%
15 Yr FRM3.37%3.38%-0.012.69%3.45%
FHA 30 Year Fixed3.85%3.90%-0.053.15%3.95%
Jumbo 30 Year Fixed4.21%4.22%-0.013.41%4.25%
5/1 Yr ARM3.02%3.05%-0.032.80%3.10%
Updated: 12/6/16 1:57 P

Mortgage Rates Hold Eerily Steady
Dec 6 2016, 4:44PM


Mortgage rates barely budged today, with most lenders offering the exact same quotes as yesterday.  While we have seen a few days with similar day-over-day results recently, most of those involved intraday 'reprices' (i.e. lenders changing rates in the middle of the day in response to market movement).  Today was the first day since the election with almost no reprices and where nearly every lender made the same move (anywhere from "sideways" to  microscopically lower in rate).

4.125% is the most prevalent conventional 30yr fixed rate on top tier scenarios with 4.25% not too far behind.  4.0% is a distant third.


The lack of volatility could be due to Thursday's scheduled announcement from the European Central Bank (ECB).  In short, this is the world's first likely opportunity to hear the ECB confirm plans to wind down its asset purchases--a move that would be analogous to the Federal Reserve's comments preceding the 2013 taper tantrum.  In the current case, markets have done much more to prepare for European tapering, but the announcement could nonetheless cause volatility for rates.


Loan Originator Perspective


Mortgage rates have been a bit quiet today following the last two days of semi-volatility.  Overall this may look like a good sign, but we are still in an uptrend.  Rates are forming higher highs, and higher lows, and this is just not a good sign for us.  Defense is the only play, if you have a clear path to closing, locking in makes the most sense.  Tomorrows announcement from the head of the European central bank may have a potential benefit for rates, but it may not, and based on the reaction to the referendum from Italy this weekend I would say very little is likely to help us until Mr. Trump is in office.  Remember the current trade that pushed rates higher was in connection to our new elected president and the theoretical policies that he may bring that would cause inflation.   -Gus Floropoulos, VP, The Federal Savings Bank


Rates were eerily flat today, literally staying in as narrow of range as I can remember seeing.  Traders may be waiting for the ECB's Thursday policy statement, which should provide clues on their future stimulus policy.  At least we're not seeing daily losses now, so the worst of the post election rate swoon may be over.  I'm still leaning towards locking sooner rather than later, but wouldn't argue if an informed client chose to float.  We'll take unchanged rate sheets, sure beats the last several weeks! -Ted Rood, Senior Originator


Today's Best-Execution Rates

  • 30YR FIXED - 4.125-4.25%
  • FHA/VA - 4.0%
  • 15 YEAR FIXED - 3.375%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender
Ongoing Lock/Float Considerations
  • Rates had been trending higher since hitting all-time lows in early July, and exploded higher following the presidential election
  • Some investors are increasingly worried/convinced that the decades-long trend toward lower rates has been permanently reversed, but such a conclusion would require YEARS to truly confirm
  • With the incoming administration's policies driving a large portion of upward rate momentum, mortgage rates will be hard-pressed to make significant improvements until after Trump takes office.  Rates can move for other reasons, but it would take something big and unexpected for rates to move appreciably lower.
     
  • We'd need to see a sustained push back toward lower rates (something that lasts more than 3 days) before anything less than a cautious, lock-biased approach makes sense for all but the most risk-tolerant borrowers.
     
  • 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). 
Today's  Best Real Estate Humor 

Image result for real estate cartoons

               .
       
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
furtree@msn.com
619-944-8749