Wednesday, December 21, 2016


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

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 Listed For Sale

#1     3290 17 Mile Drive, Pebble Beach, CA with 5 bedrooms, 7 baths,
and 12,847 sq.ft.is listed for sale at $49,888,000



Privately situated on Pescadero Point and a short stroll to The Lodge at Pebble Beach, this landmark home is one of 31 rarely available water front properties in Pebble Beach. This iconic ocean front estate offers stunning views from every room of the Pebble Beach Golf Links, Carmel Bay and Beach, Carmel Valley and Point Lobos. Offering 4 ocean view suites, including an expansive master suite with a dressing lounge and sitting room, this gracious residence is bathed in natural light. The home is designed for the best of indoor outdoor living, offering vaulted ceilings, an open floor plan, a chef's dream kitchen, multiple living and dining areas for intimate or large scale entertaining, and a grand informal family room leading out to an ocean side terrace including an outdoor kitchen and infinity swimming pool. A one bedroom, one bath guest house completes the property.  












Today's Best Celebrity Mansion

Eminem's Mansion in  Bel Air, CA

Eminem owns many grand mansions around the world with awesome décor. This is an areal view of his LA Mansion

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Today's Top Real Estate News

First-time homebuyers fight low inventory, affordability woes in Q4

By Jeff Marcus
  • The final quarter of 2016 saw the largest drop in three years in homes for sale targeting the nation’s average first-time buyers, down 12.1% year-over-year, according to Trulia’s latest Inventory and Price Watch report.
  • Affordability also took a hit during the period, as first-time buyers spent 1.9% more of their income to land a starter home during the period compared to a year ago. This group spent 38.5% of their income to purchase a median-priced home during the quarter while buyers of trade-up and premium properties spent 25.5% and 13.9% of their incomes, respectively.
  • Starter homes, which are typically the purchase of first-time buyers, took a 24.8% share of the housing market during the quarter, on par with the same quarter in 2015. The median list price of starter homes nationally was $164,920 for the period, up 7.6% from a year ago. Dive Insight:
Dive Insight:

While first-timers faced tough sledding in their hunt for an affordable starter home in the fourth quarter of 2016, there are indications that the recent rate of price increases that contributed to the problem will slow in 2017, making homes more affordable for some.

The moderation in price growth will result in part from rising interest rates, experts believe. Jonathan Smoke, chief economist at Realtor.com, recently pointed out that while 2017 will see an increase in both home sales and prices, the growth is expected to be slower than it has been over the last three years.

Higher interest rates have already accounted for an increase of 7% in average monthly mortgage payments since early November. The National Association of Realtors expects home prices to rise 3.9% in 2017, compared to 4.9% in 2016, while real estate tracking firm Zillow has predicted a 3% increase by October 2017, down from increases of more than 5% in major U.S. cities and nationally this year.

Despite the headwinds, a majority of (70%) households surveyed by NAR in late 2016 still believe that now is a good time to buy a home. NAR Chief Economist Lawrence Yun thinks the answer to the problems facing first-time homebuyers may come from more activity in the new residential construction market, boosting inventory and relieving price pressures.

The pool of potential first-timer buyers is large and demand is growing. "That's why it's extremely necessary for homebuilders to step-up their production of homes catered to buyers in the affordable price range,” Yun said in a release. “Otherwise the nation's low homeownership rate will struggle to shift higher in 2017."


Today's Top LA Luxury  Estate Listed For Sale 
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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, Zillow predicts they will rise 1.8% within the next year.

The median home value in Brentwood is $2,420,000. Brentwood home values have gone up 8.4% over the past year.  Zillow predicts they will rise 1.7% with the next year.

The median home value in Malibu  is $2,782,400.  Malibu home values have gone u[p 3.5% 
over the past year.  Zillow predicts they will rise 0.6 % with the year.

The median home value in Beverly Hills is $2,930,800.  Beverly Hills hhome values have gone up 1.9% over the past year.  Zillow predicts they will rise 0.4% with 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.  Zillow predicts they will rise 0.8% within the next year.

#1      29107 Cliffside, Malibu, CA 90265 with 3 bedrooms, 2 baths, 
and 1,924 sq.ft. is listed for sale at $3,950,000.


Point Dume Malibu Ranch on corner lot with ocean view and easy access to Big Dume Beach. 3 bed, 2 bath open floor plan peacefully situated on +/- 1/2 acre, gated and serene with ample guest parking. Updated throughout with cement floors, marble counters, stainless Viking appliances, vaulted ceilings and a classic and modern design that is timeless and defined. Standing seam aluminum roof, outdoor shower, detached office and storage areas, well groomed landscape with modern decking, outdoor fire pit, custom ocean view spa tub, mature and abundantly producing avocado and citrus trees, large outdoor bar-b-que, dining and south facing lawn areas drenched in sunshine that inspire the seamless transition from inside to outdoors. Large walk in laundry room and pantry. Close to Point Dume Marine Science school and Point Dume Village Shopping Center













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Today's Top Phoenix Luxury Estate Listed For Sale 
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The median home value in Scottsdale is $413,200. Scottsdale home values have gone up 3.6% over the past year. Zillow predicts they will rise 1.8% withiin the next year.

The median home value in Carefree is $729,000. Carefree home values have gone up 3.6% over the past year.  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. Zillow predicts they will 1.4% with the next year.

#1     4502 E Moonlight Way, Paradise Valley, AZ 85253 with 5  bedrooms, 6 baths,
and 7010 sq.ft. is listed for sale at $6,000,000



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Clearwater Hills*Located High On The North Mountain Slope In The Saddle Of The Mountain With Views Of Downtown Phoenix To The South And Pinnacle Peak To The North*The Home Sits On Over Three Acres With The Home Positioned On The Tatum Canyon Paradise Valley 1.5 Acres*Beautifully Landscaped With Front And Back Grass Lawn*Slump Block Construction With Beautiful Detail*Four Car Temperature Controlled Garages*Five Bedrooms And Six Bathrooms Including Separate Guest House*Second Level Game Room With Walk Out Balcony*Master Bedroom With Panoramic Views Of Camelback Mountain*Two Master Bathrooms And Two Master Closets*Pelle Windows And Doors*Hand Carved Beams*Hand Plastered Walls*Heated Pool And Spa*Seven Citrus Trees*One Of The Most Desirable And Unique Homesites In The Entire Valley































Today's Top San Diego Luxury Estate Listed For Sale

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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. 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.  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.  Zillow predicts they will rise 3.0% within the next year.

The median home value in Del Mar is $1,598,800. Del Mar home values have gone up 
6.2% over the past year.  Zillow predicts they will rise 2.3% with then 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
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#1     8578 Ruette Monte Carlo, La Jolla, CA 92037 with 5 bedrooms, 7 baths, and 6,820 sq.ft. is listed for sale at $5,100,000.

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Perched above La Jolla Shores in the exclusive gated community of Montoro, this remarkable residence showcases sweeping ocean and sunset views. This home features 5 bedrooms, 6.5 baths plus an office/library, a versatile bonus room currently used as a gym and game room, and a garage space which has been converted into a sound-proof music studio. The master retreat is privately located on the entry level with a serene view deck and luxurious his and her baths and closets. Extensive use of wood and stone inside.





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Today's Top San Francisco Bay Area Luxury Estate Listed For Sale

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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.  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. 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. 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.  Zillow predicts they will fall -0.3% within the next year.

#1      125 Prospect Avenue, Sausalito, CA 94965 with 4  bedrooms,4 baths, and 3,000 sq.ft. is listed for sale at $2,999,000


Mid-Century Modern with 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 with gorgeous master bath and private deck. Kitchen with stone peninsula provides an open venue for entertaining. Lg laundry room and 2 car garage. Gated entry with fenced private grounds including lush side yard with lawn. Fine Craftsmanship and designer finishes



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Today's Top Seattle Luxury Estate Listed For Sale

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The median home value in Kirkland is $593,000.  Kirkland home values have gone up 15.6% over the past year.  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. 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. Zillow predicts they will rise 5.9% within the next year. 

The median home value in Clyde Hill is $2,301,000. Clyde Hill home values have gone up 12.3% over the past year. 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      5403 154th Ave SE, Bellevue, WA 98006 with 4 bedrooms, 5 baths, and 5,070 sq.ft. is listed for sale at $1,788,000.


Very spacious updated kitchen. The master is tucked away in a quiet corner of the home with an adjacent bedroom that could be used as a nursery or office and which has its own 3/4 bath. The lower level has two large bedrooms, two full baths, family room, playroom, studio and office. Potential for second kitchen, home business or school. Three car garage and sport court.









Mortgage Rates Daily Update                                                                      52 Week


ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.37%4.37%--3.34%4.38%
15 Yr FRM3.55%3.56%-0.012.69%3.58%
FHA 30 Year Fixed4.00%4.05%-0.053.15%4.10%
Jumbo 30 Year Fixed4.40%4.40%--3.41%4.40%
5/1 Yr ARM3.22%3.23%-0.012.80%3.25%
Updated: 12/20/16 3:50 PM

Markets Keep Moving, Rates Keep Staying The Same
Dec 20 2016, 4:01PM

Mortgage rates are officially checked out for the holidays.  Today marked the third straight day with very little change from the previous day's rates, despite plenty of justification from market movement.  This worked against us yesterday as markets suggested lower rates, but it worked in our favor today as bond markets were slightly weaker (bond weakness implies higher rates).  In general, lenders have rates set a bit higher than they otherwise would be during a more active time of year, and thus don't need to worry about adjusting rates too much in either direction, unless markets make a much bigger move.

4.375% remains the most prevalent conventional 30yr fixed quote for top tier scenarios.  Several lenders still up at 4.5%.  The average effective rate is just a hair under the highest levels since April 2014.

Loan Originator Perspective


Short of some unexpected tape bomb, it will be extremely difficult for bonds to mount any kind of sizable rally that will lower rates.  The trend continues to not be our friend.  I am advising clients to lock as soon as they are able to as there appears to be no near term factor that makes floating worth the risk.  -Victor Burek, Churchill Mortgage

Today's Best-Execution Rates

  • 30YR FIXED - 4.375-4.5%
  • FHA/VA - 4.0%
  • 15 YEAR FIXED - 3.375-3.5%
  • 5 YEAR ARMS -  3.0 - 3.5% 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. 

Today's Best Real Estate Humor

                               https://lwreedy.files.wordpress.com/2011/12/real-estate-christmas.jpg?w=272&h=300

Today's Best Real Estate Humor

Thanks for reading today's Blog.  Looking for more information?  Have a comment? 

Please call, text or email me.  Most importantly, have a great day!

Cordially,

Tom


www.laluxuryrealestateupdates.com

www.phoenixluxuryrealestateupdates.com
www.sandiegorealestateflashreport.com
www.sanfranciscobayarealuxuryrealestateupdates.com
www.sealttleluxuryrealestates.com
www.todaysbestmansionsforsale.com