Saturday, December 31, 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

Majority of Housing Markets Have Recovered to Historical Norms
Dec 29 2016, 9:32AM

When Freddie Mac introduced its Multi-Indicator Market Index (MiMi) in March 2014 only 11 of the 50 states plus the District of Columbia were deemed stable and in range of their historic benchmarks.  That was also the case for only four of the 50 leading metropolitan areas.  Further, the index itself stood at -3.08 points, indicating a week housing market overall and not much improved from the all-time low of -4.49 in late 2010 when the housing market was at its weakest.

This week Freddie Mac released the most recent MiMi, covering October 2016.  The index stood at 86.4, indicating a housing market "that's on the outer edge of its historic benchmark range of housing activity."  This is a 0.42 percent improvement from September and a year-over-year gain of 5.88 percent. The index has recovered by 46 percent from that 2010 low.

 Further, the report finds 80 percent, or 41 states plus the District of Columbia, have MiMi values within range of their benchmark averages; Another state, Georgia, is nudging at its outer range.  The number of metro areas that have also entered the historic range has increased to 77 of the 100 that are now tracked.  

The MiMi is calculated from information gathered from home purchase applications that provide information on payment-to-income ratios, from performance data on on-time mortgage payments, and from information about local employment.  This is combined with current local market data to assess where each single-family housing market is relative to its own long-term stable range. MiMi also indicates how each market is trending, whether it is moving closer to, or further away from, its stable range. A market can fall outside its stable range by being too weak to generate enough demand for a well-balanced housing market or by overheating to an unsustainable level of activity.

The five states with score closest to their historical benchmark index of 100 are all in the West; Colorado (98.6), Utah (101.5), Hawaii (98), Idaho (97.2) and Oregon at (96.8).  The leading metropolitan areas are Dallas (100.2), Nashville (100.5), Honolulu (100.8), Ogden, Utah (100.8), and Los Angeles (99.1).  ranking in the top five with scores closest to their historical benchmark index levels of 100.

In October, 43 of the 50 states and 82 of the top 100 metros were showing an improving three-month trend. The same time last year, 30 states and 69 of the top 100 metro areas were showing an improving three-month trend.

Freddie Mac Deputy Chief Economist Len Kiefer commented, "The National MiMi stands at 86.4, a 5.88 percent year-over-year increase, but still below its historic benchmark normalized to 100. The purchase applications indicator is up nearly 20 percent from last year and is reflected in the recent better-than-expected existing and new home sales purchase data. 

"MiMi does not yet capture the recent jump in mortgage rates since the election, which will drive down homebuyer affordability and likely dampen demand for home sales next year in some markets. While we see strong house price growth in markets like Dallas, Houston, Orlando, Phoenix and others, most are still well below their pre-2008 peak and still have significant room for improvement."
Today's Top LA Luxury Estate Listed For Sale 



The median home value in Los Angeles County is $547,000. Los Angeles County home values have gone up 7.1% over the past year, Zillow predicts they will rise 2.5% within the next year.

The median home value in Brentwood is $2,493,500. Brentwood home values have gone up 10.9% over the past year.  Zillow predicts they will rise 3.7% with the next year.

The median home value in Malibu  is $2,866,200.  Malibu home values have gone up 6.4% 
over the past year.  Zillow predicts they will rise 2.0 % with the year.

The median home value in Beverly Hills is $3,033,400.  Beverly Hills hhome values have gone up 4.1% over the past year.  Zillow predicts they will rise 1.1% with the next year.

The median home value in Bel Air is $3,307,000. Bel  Air home values have gone up 5.3% over the past year.  Zillow predicts they will rise 1.8% 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 $414,100. Scottsdale home values have gone up 4.0% over the past year. Zillow predicts they will rise 2.1% withiin the next year.

The median home value in Carefree is $740,800. Carefree home values have gone up 
4.3% over the past year.  Zillow predicts they will rise 2.1% within the next year.

The median home value in Paradise Valley is $1,604,500. Paradise Valley home values have gone up 2.7% 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 $526,500. San Diego County home values have gone up 6.1% over the past year. Zillow predicts they will rise 2.0% within the next year.

The median home value in La Jolla, 92037 is $1,483,400. La Jolla, 92037 home values have gone up 4.4% over the past year.  Zillow predicts they will rise 1.5% within the next year.

The median home value in Solana Beach 92075 is $1,273,700. Solana Beach 92075 home values have gone up 5.3% over the past year.  Zillow predicts they will rise 2.7% within the next year.

The median home value in Del Mar 92014 is $1,633,400. Del Mar home values have gone up 7.6% over the past year.  Zillow predicts they will rise 2.4% with then next year.

The median home value in Rancho Santa Fe is $2,638,300. Rancho Santa Fe home values have declined -5.1% over the past year and Zillow predicts they will fall -1.9% 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 $1,132,300. San Francisco home values have gone up 1.3% over the past year.  Zillow predicts they will fall -0.3% within the next year.

The median home value in Sausalito is $1,246,200. Sausalito home values have gone up 4.4% over the past year. Zillow predicts they will rise 0.5% within the next year. 

The median home value in Tiburon is $2,433,900. Tiburon home values have gone up  1.1% over the past year.   Zillow predicts they will rise 0.4% within the next year. 

The median home value in Saratoga is $2,367,800. Saratoga home values have gone up 0.9% over the past year.  Zillow predicts they will fall -0.5% 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 $595,500.  Kirkland home values have gone up 14.5% over the past year.  Zillow predicts they will rise 6.0% within the next year.

The median home value in Seattle is $612,400. Seattle home values have gone up 13.3% over the past year. Zillow predicts they will rise 5.9% within the next year.

The median home value in Bellevue is $744,800. Bellevue home values have gone up 13.3% over the past year. Zillow predicts they will rise 5.5% within the next year. 

The median home value in Clyde Hill is $2,219,500. Clyde Hill home values have gone up 12.1% over the past year. Zillow predicts they will rise 5.4% within the next year 

The median home value in Medina is $2,357,000. Medina home values have gone up 11.6% over the past year and Zillow predicts they will rise 5.0% 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 FRM4.21%4.23%-0.023.34%4.38%
15 Yr FRM3.40%3.42%-0.022.69%3.58%
FHA 30 Year Fixed3.75%3.75%--3.15%4.10%
Jumbo 30 Year Fixed4.23%4.25%-0.023.41%4.40%
5/1 Yr ARM3.05%3.06%-0.012.80%3.25%
Updated: 12/30/16 12:26 PM
Mortgage Rates Slightly Lower to End 2016
Dec 30 2016, 12:27PM


Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders.  December 8th was the last time rates were lower.  As of yesterday, 4.25% regained the status of the "most prevalent" conventional 30yr fixed quote on top tier scenarios.  Quite a few lenders remain at 4.375% and a scant few are down to 4.125%. 

While this is all good news in the context of the past few weeks, 2016 nonetheless ends with one of the worst 2-month losing streaks in the history of mortgage rates.  Specifically, the 5 weeks following the election were the worst 5 weeks on record, going back to the Spring of 1987.   

For anyone considering locking or floating into the 3-day weekend (markets and mortgage lenders are closed on Monday, by the way), it's important to remember that nothing about this week's momentum is guaranteed to carry over into the new year.  

To repeat yesterday's thoughts, the  recent 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.  

Again, 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.

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