Monday, December 12, 2016


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

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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




Overhead View
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This grand French Chateau inspired mega mansion, dubbed “Le Belvedere”, is located at 630 Nimes Road in Bel Air, Los Angeles, CA and is situated on 2.2 acres of land. It was built by Mohamed Hadid of Hadid Development. He sold the home in 2010 for $50 million and is currently leasing it from the current owners.With stunning 280° city views, this 48,000 square foot, 2.2 acre French inspired chateau has it all. Walled and gated with exceptional entertaining areas, exquisite design and detail. Professional screening room, grand ballroom, 5,000 bottle wine cellar, 3 sumptuous master suites, 7 additional bedrooms, beautiful grounds with fountains, loggia and terraces, infinity pool, spa, 19 fireplaces, elevator, Moroccan suite, Turkish hummam, gym, commercial kitchen, swan pond, and so much more. Le Belvédère is a place of magic. A fully-realized dream estate.
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Formal Living Room


Library

Dining Room

Master Bedroom

Master Bathroom

Professional Screening Room

Backyard View

Infinity Pool


Today's Top Real Estate News

The 9 States With the Hottest Housing Markets 



U.S. home values rose again in October, and a handful of states reported increases exceeded the national average.

Housing prices increased 6.7 percent in October compared to the same month a year ago, according to the latest figures from CoreLogic. Home values also rose month-over-month by 1.1 percent, the company found.

"Home prices are continuing to soar across much of the U.S. led by major metro areas such as Boston, Los Angeles, Miami and Denver,” said Anand Nallathambi, president and CEO of CoreLogic, in a statement. “Prices are being fueled by a potent cocktail of high demand, low inventories and historically low interest rates."

Last week, the National Association of Realtors pointed to the low supply of homes for weak  growth in pending sales, which barely inched higher in October. "Low supply has kept prices elevated all year and has put pressure on the budgets of buyers," said NAR Chief Economist Lawrence Yun in a statement.

Overall, prices fell in only two states — Alaska and Connecticut — while a dozen states recorded price increases that outpaced the national average, according to CoreLogic.  Here are the hottest markets:

No. 9: Texas: 6.7 percent increase in home prices

While home sales in Texas edged up less than a half-percent in the third quarter, the total volume of housing sales in the state is on track for a record year in 2016.


No. 8: South Dakota: 7.6 percent increase in home prices

As home values increase, the number of sales in South Dakota declined 2.1 percent in the first quarter versus the year before. Pending sales were off even more, down nearly 31 percent from last year.

No. 7: Florida: 7.8 percent increase in home prices

Single-family home sales in the Sunshine State fell 5.3 percent in October from a year ago, while townhouse and condo sales dropped 12.3 percent. The decline was largely due to shortfalls in inventory.

No. 6: New York: 7.9 percent increase in home prices

The number of home sales in the Empire State fell nearly 8 percent from October 2015, but that still represents the second-highest October on record. Year to date, sales are 9.8 percent higher than the same period last year.


No. 5: Utah: 8 percent increase in home prices

The number of home sales in Utah slipped less than a percent in the third quarter compared with last year, according to figures emailed by the Utah Association of Realtors. But sales volume is up 1.8 percent year-to-date.

No. 4: Colorado: 8.4 percent increase in home prices

The number of home sales edged up a half-percent in October from the previous year, while year-to-date sales volume was up by 1.5 percent. The number of sales under contract increased 10 percent in October.

No. 3: Idaho: 8.5 percent increase in home prices

Home sales in the state’s most populous county, Ada County, rose 11 percent year-over-year in October, and the number of sales under contract rose 7.8 percent. Inventory shrunk 12.5 percent during the month.

No. 2: Oregon: 9.9 percent increase in home prices


Home sales in Oregon’s largest city, Portland, slipped 4.7 percent year-over-year in October, while pending sales were off 0.6 percent from the year before. Inventory shrunk 4.4  percent

No. 1: Washington: 10.5 percent increase in home prices

Pending sales of homes in Northwest Washington hit a record high for November, while the number of closed sales spiked 31.3 percent in the month. Inventory dropped by 13.2 percent in November.



Today's Top LA Luxury Estate

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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 ye
#1     5811 Round Meadow, Hidden Hills, CA 91302 with 8 bedrooms, 10 baths, and 12,680 sq.ft. is listed for sale at $12,500,000.


Exquisite Southern French Estate nestled in the exclusive private/gated community of Hidden Hills, all on 1.5 flat, lushly landscaped acres. This custom estate boasts 12,680 ft., with 8 bedrooms, 10 baths, offering the utmost in handcrafted quality and design, with walnut floors, marble & stone finishes, and custom steel windows and doors. This timeless home offers a grand entry, with tranquil courtyards, formal living and dining, large family room with fireplace and entertainment center-wide open to the European style gourmet kitchen with beam ceilings and skylights. Elegant master suite with fireplace was designed with floor to ceiling steel and glass walls, private balcony and  spa-style bath with Calcutta marble and 2 walk-in closets, all overlooking the grounds. Features include the projection media room, walnut paneled library, 3,500 bottle wine cellar, mirrored gym with walls of glass overlooking the grounds, plus 6 car garages. The resort style manicured grounds, with Medici-style flowing fountain, are graced by a sparkling pooland  spa, patios, covered outdoor Lanai with handcrafted pizza oven, BBQ island, raised planting beds, children play area, rose gardens and an exotic fruit orchard. Also included is a 1,300 ft. (2+2) guest house with two car garage .Hidden Hills is a city and gated community in Los Angeles County, California. It is located next to the city of Calabasas and is located in the west of San Fernando Valley. It is notable for being home to many actors and celebrities.








Today's Top Phoenix Luxury Estate
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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     5430 E Via Buena Vista Lane, Paradise Valley, AZ 85253 with 5 bedrooms, 
7 baths, and 8,600 sq.ft. is listed for sale at $3,395,000

5430 E Via Buena Vista Ln N, Paradise Valley, AZ 85253

Spectacular update completed December 2016--like no other--2,000 ft. Guest house with 
2 bedrooms and over 100 ft. Long covered heated & misted patio,w/full outdoor kitchen, 4 fire features adjacent to the pool and firepit--world class kitchen with Viking and Subzero, just installed brand new berber carpet in the bedrooms, newly installed led lighting, fans, paint and landscape, waterfalls and  full sunken tennis court--crown molding, every bedroom ensuite full baths. 3rd kitchen is in the guest house with it's own garage--nothing like it for the money in paradise valley--fully gated, 60 ft water feature in the front--one of the most dramatic front elevations in Paradise Valley--back yard is a 10!

5430 E Via Buena Vista Ln N, Paradise Valley, AZ 85253

5430 E Via Buena Vista Ln N, Paradise Valley, AZ 85253

5430 E Via Buena Vista Ln N, Paradise Valley, AZ 85253

5430 E Via Buena Vista Ln N, Paradise Valley, AZ 85253

5430 E Via Buena Vista Ln N, Paradise Valley, AZ 85253

5430 E Via Buena Vista Ln N, Paradise Valley, AZ 85253

Today's Top San Diego Luxury Estates
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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     15553 Las Planideras, Rancho Santa Fe, CA 92067 with 4 bedrooms, 4 baths, and 5,445 sq.ft. is listed for sale at $3,100,000.


Outrageous view property!!! Incredible west side location on quiet street on premier lot. Property consists of a 5445 sq. ft. single level home with pool and tennis court. Plenty of flat usable land perfect for an estate type home or remodel the existing home which has great bones. 15575 Las Planideras can also be purchased to create an even more impressive estate.
















Today's San Francisco Luxury Estate

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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  224 Sea Cliff Avenue, San Francisco-Sea Cliff, CA 94121 with 7 bedrooms, 
5 baths, and 6,650 sq.ft. is listed for sale at $19,675,000.

224 Sea Cliff Avenue San Francisco, CA 94121 - Photo 10

Location location, location - spectacular trophy home with HUGE potential! Built in 1925, this grand Spanish Mediterranean residence offers a rare opportunity to own one of the few oceanfront homes in this coveted neighborhood. Sweeping views of GGB, Marin Headlands and Pacific Ocean from all levels. Private access to beach. Bring your architects and contractors to create your masterpiece!! 

224 Sea Cliff Avenue San Francisco, CA 94121 - Photo 7



224 Sea Cliff Avenue San Francisco, CA 94121 - Photo 6

224 Sea Cliff Avenue San Francisco, CA 94121 - Photo 3

























Today's Top Seattle Luxury Estates

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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     8638 NE 19th Place, Clyde Hill, WA 98004 with 5 bedrooms, 7 baths, and 7,481 sq.ft. is listed for sale at $6,299,000.



Simply the Best! Quality and elegance at its finest. Custom designed Mediterranean Italian Villa. Developers own home. Grand entry and Cathedral ceilings. The premium in materials. Absolutely luxurious floor plan. Formal living and dining rooms with  custom columns, reverse lighting, 4 fireplaces, crown moldings, wood wrap and stone floors. Gourmet kitchen with granite slab counter tops, commercial grade appliances and custom cabinetry. Plantation shutters throughout, resort style pool, privacy, etc















Mortgage Rates Daily Update                                                                  52 Week  

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.20%4.15%+0.053.34%4.24%
15 Yr FRM3.40%3.35%+0.052.69%3.45%
FHA 30 Year Fixed3.90%3.80%+0.103.15%3.95%
Jumbo 30 Year Fixed4.25%4.22%+0.033.41%4.25%
5/1 Yr ARM3.06%3.01%+0.052.80%3.10%
Updated: 12/9/16 2:21 PM

Mortgage Rates Rise to 2nd Highest Levels in Over 2 Years
Dec 9 2016, 3:13PM


Mortgage rates rose meaningfully today, with most lenders coming close to the highest levels in more than 2 years (on December 1st).  Keep in mind though, that my daily assessment puts rate movement under a microscope, so "rose meaningfully" is a relative term.  In fact, many lenders are quoting the exact same contract rates today compared to yesterday, with the only deterioration being seen in the form of higher upfront costs (or lower lender credit, depending on the scenario).  Even so, there was enough movement to shift the average lender's top tier conventional 30yr fixed quote up to 4.25% although 4.125% is nearly as prevalent.

Today's market movement had to do with investor anxiety heading into a few challenging days at the beginning of next week.  In addition to the Fed announcement on Wednesday, Treasury auctions (Where the government sells bonds to investors directly, typically a Tue/Wed/Thu affair) are packed into the first 2 days of the week.  Bond market movement (which drives interest rates) is all about supply and demand.  When supply is more challenging, it puts upward pressure on rates.  Moving the bond market's key source of "supply" ahead in the calendar and condensing 3 days of supply into 2 definitely makes supply more challenging.

The bottom line is that bond markets are anxious, and that anxiety is being managed by selling bonds.  It could absolutely still be the case that bond traders are interested in keeping rates from moving above recent highs, but we won't have a great sense of that until the middle of next week.  The blanket advice for any new loans is to lock in this environment.  That said, risk-takers might consider the fact that 10yr Treasury yields (a good proxy for momentum in longer-term rates, like mortgages) have yet to break above 2.50%, despite facing maximum anxiety this afternoon.  2.50% could be used as line in the sand that lets risk-takers know it's time to lock.

Today's Best-Execution Rates
  • 30YR FIXED - 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 

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Have a comment? Call or email me.  Most importantly, have a great day!


Tom Furino
furtree@msn.com
619-944-8749