Friday, December 30, 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     33218 Pacific Coast Highway, Malibu, CA with 4 bedrooms, 6 baths, and 5,254 sq.ft. is listed for sale at $60,000,000.

Image result for 33218 pacific coast highway, malibu photos

Never before on the market, a celebrity couple transformed this residence into a one-of-a-kind beach compound. Very private and secluded beach-side estate on a park-like setting of 3 natural manicured acres with mature trees, panoramic ocean views, and a path to the beach. A long driveway winds past a tennis court to a newly renovated 2-story home. The main floor offers a great room with floor-to-ceiling sliding glass doors with panoramic views, a sitting and dining area, media room, gourmet island kitchen with breakfast bar, and a large wraparound deck with fire pit. The large ocean view master suite has a fireplace, sitting area, 2-separate spa-like baths and dressing closets, and is located on the 2nd level along with 2-private entrance en-suite bedrooms situated around a large interior courtyard. A 4th large room with ocean views is being used as a media room, but could also function as a home office or 4th bedroom. A 3rd private entrance en-suite bedroom includes an island kitchen, spa-like bath, and large closet. 3-car garage with ample guest parking.



















Today's Best Celebrity Estate 

Pamela Anderson's Malibu home features a saltwater pool and rooftop deck that allows guests to take in breathtaking views of the surrounding hills.

     

Today's Top Real Estate News 

Existing home sales continue to climb at highest pace since 2007.  NAR: This is the healthiest job market since the Great Recession

Snow House

Existing home sales increased for the third consecutive month in November to the highest pace in almost 10 years, according to the most recent report from the National Association of Realtors.

Existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.7% to a seasonally adjusted rate of 5.61 million in November. This is up from a downwardly revised 5.57 million in October, up 15.4% from last year’s 4.86 million and the highest since February 2007.

“The healthiest job market since the Great Recession and the anticipation of some buyers to close on a home before mortgage rates accurately rose from their historically low level have combined to drive sales higher in recent months,” NAR Chief Economist Lawrence Yun said.  “Furthermore, it’s no coincidence that home shoppers in the Northeast – where price growth has been tame all year – had the most success last month.”

The median existing-home price rose once again in November to $234,900, up 6.8% from last year’s $220,000. This marks the 57th consecutive month of year-over-year gains.
Inventory, on the other hand, dropped 8% from October to 1.85 million existing homes available for sale. This is now 9.3% below last year’s 2.04 million, and the 18th consecutive month of annual decreases.

“Existing housing supply at the beginning of the year was inadequate and is now even worse heading into 2017,” Yun said. “Rental units are also seeing this shortage. As a result, both home prices and rents continue to far outstrip incomes in much of the country.”
However, home builders reported a significant boost in confidence after President-elect Donald Trump won the election, according to the National Association of Home Builders/Wells Fargo Housing Market Index, leading some to believe that it could push new home builds up in 2017.

Properties are now staying on the market slightly longer than before at 43 days, up from 41 days in October, but down significantly from last year’s 54 days. Short sales were on the market the longest at a median of 110 days in November, while foreclosures sold in 55 days and non-distressed homes took 41 days. Overall, 42% of homes sold in November were on the market for less than a month.

Today's Top LA Luxury Estate Listed For Sale 



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.  






Today's Top Phoenix Luxury Estate Listed For Sale 
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A photo showing the skyline of Phoenix, looking north.  It shows the various buildings of the downtown area, as well as Sunnyslope Mountain in the background
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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     26905 N 98th  Way, Scottsdale, AZ 85262 with 4 bedrooms, 7 baths, and 8,070 sq.ft. is listed for sale at $5,250,000.


Glorious city light and sunset vistas emanate from this hillside estate in Estancia. Built on the Northwest side of Pinnacle Peak this home is perfectly positioned to capture the optimal Southwestern panoramic golf course and mountain views. The expansive use of marble, decorative iron and glass compliment the magnificent European architecture. The livable split floor-plan, 600 square foot wine cellar, wet bar, game room, billiards room and media room allow for privacy and entertainment at its finest. The telescoping glass wall system opens to the patio with the negative edge pool and spa which blends the indoor and outdoor living space. Enjoy the private courtyards, fountains and balconies which create the perfect backdrop for elegant living and entertaining.









Today's Top San Diego Luxury Estate Listed For Sale


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.
    
#1     8317 La Jolla Shores Drive, La Jolla, CA 92037 with 6 bedrooms, 
7 baths, and 5,408 sq.ft. is listed for sale at $8,900,000.

8317 La Jolla Shores Dr, La Jolla, CA 92037

Lovely, sprawling single level tennis estate on a gated .97 acre lot in Upper La Jolla Shores. This spacious traditional residence features a cozy country kitchen w/built-in breakfast nook, large master suite w/jacuzzi tub and French doors leading out to pool / spa area. 6 Bedrooms, 7 Baths in the main house, plus a detached guest cottage in the back yard. There is an office, family & living rooms w/fireplaces, & in house guest suite w/separate entrance. Walk to La Jolla Shores beach and restaurants. Rare offering in La Jolla Shores. Large, private tennis estate with pool, spa and detached guest cottage. Assessor's Records show .97 acre lot, Assessor's Plot Map shows 1.00 acre lot. BTVSFB4OE. This tennis estate is on a private drive east of La Jolla Shores Drive and is gated for security and privacy. The single level ranch home has been updated and expanded by present owner and affords a resort like feel a short walk to La Jolla Shores Beach, it shops and restaurants and the La Jolla Beach and Tennis Club. Great entertainment house with boundless room for parties. Opportunity to expand and go up for a mega estate with some ocean views or keep the one level home. One of the largest private parcels in all of La Jolla Shores.


8317 La Jolla Shores Dr, La Jolla, CA 92037

8317 La Jolla Shores Dr, La Jolla, CA 92037

8317 La Jolla Shores Dr, La Jolla, CA 92037

8317 La Jolla Shores Dr, La Jolla, CA 92037

8317 La Jolla Shores Dr, La Jolla, CA 92037

8317 La Jolla Shores Dr, La Jolla, CA 92037

8317 La Jolla Shores Dr, La Jolla, CA 92037



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

Image result for San Francisco skyline pictures
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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     471 Lombard Street, San Francisco, CA 94133 with 4 bedrooms,
 4 baths, and 2,400 est. sq.ft. is listed for sale at $3,950,000.

471 Lombard St, San Francisco, CA 94133

Set back from the street in a tranquil garden setting, this exquisite home features views of the Golden Gate Bridge, Alcatraz, the bay, Russian Hill, the Crooked Street, as well as verdant garden outlooks. Renovation was recently completed on this unique property which may be used as a 3-4 bedroom/3.5 bath home or as two-units (2 bedroom/1.5 bath and 2 bedroom/2 bath). There are exquisite custom finishes throughout, two decks plus an extra-deep garden, and a flexible, open floor plan. Two separate garages are at the street level.

471 Lombard St, San Francisco, CA 94133

471 Lombard St, San Francisco, CA 94133

471 Lombard St, San Francisco, CA 94133

471 Lombard St, San Francisco, CA 94133

471 Lombard St, San Francisco, CA 94133

471 Lombard St, San Francisco, CA 94133

471 Lombard St, San Francisco, CA 94133

471 Lombard St, San Francisco, CA 94133

Today's Top Seattle Luxury Estate Listed For Sale

Image result for Seattle

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     3519 SW Seola Lane, Seattle, WA 98146 with 5 bedrooms, 4 baths, and 4,030 sq.ft. is listed for sale at $1,880,000.


A spectacular setting a world apart from the city center 20 minutes away. Sand between your toes, the caress of the breeze and the smell of the ocean. It's all here. 90 feet of low bank waterfront with rare south facing views of Puget Sound and the snow capped Olympics. This vaulted ceiling Northwest contemporary retreat looks out to open vistas from almost every room. Three bedrooms and two baths on main, guest apartment on beach level and elevator serving all floors. Life at the beach.















ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.23%4.30%-0.073.34%4.38%
15 Yr FRM3.42%3.48%-0.062.69%3.58%
FHA 30 Year Fixed3.75%3.75%--3.15%4.10%
Jumbo 30 Year Fixed4.25%4.33%-0.083.41%4.40%
5/1 Yr ARM3.06%3.13%-0.072.80%3.25%
Updated: 12/29/16 3:54 PM
Rates Set to End Year With Glimmer of Hope
Dec 29 2016, 3:57PM


Mortgage rates moved lower today, somewhat significantly, depending on the lender.  In many cases, quotes are an eighth of a point lower compared to Tuesday morning.  Some lenders made the move yesterday.  For others, today did the trick.  In both cases, the "effective rate" (a hypothetical rate that accounts for lender-imposed closing costs) fell at its best pace in weeks. 

Today's quotes are the best since December 12th on average.  4.25% is now the most prevalent conventional 30yr fixed quote on top tier scenarios, although 4.375% remains fairly common.  

While I would love to tell you that this is a sign of a big shift back in a friendly direction, the gains are largely a result of the year-end bond trading environment.  It's not the same bond market that's normally pulling the levers behind the scenes.  Volume is lower and participants are in shorter supply.  Trading considerations differ from other times of the year.  It can all add up to unexpectedly quick moves and the APPEARANCE of new momentum that is subsequently erased in the new year.  

That's not to say a big bounce toward higher rates is guaranteed next week, but it's at least an equal possibility.  Whatever the case, the past 2 days of gains can't be viewed as the sign of a new trend.

Loan Originator Perspective


I would love to float into this rally and hope it continues, but I can't base my strategy on hope. We've had too many violent selloffs following mini rallies like this in the last 2 months. Until we have a substantial follow through of this current move lower in rates (which has occurred with exceptionally light volume) I am locking in at the earliest opportunity per loan.   -Gus Floropoulos, VP, The Federal Savings Bank

Today's Best-Execution Rates

  • 30YR FIXED - 4.25-4.375%
  • 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.
     
  • 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?  Please call, text or email me.  Most importantly, have a happy and prosperous New Year!
Tom


www.laluxuryrealestateupdates.com

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

Tom Furino
Phone/Text 619-944-8749
email: furtree@msn.com