Friday, December 16, 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 Celebrity Mansion

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Oprah Winfrey's Estate is on 42 acre estate outside Montecito, California.

Today's Best Mansion Listed For Sale
www.todaysbestmansionsforsale.com 
   
#1     3001 Pacific Avenue, San Franciso-Pacific Heights, CA  with 15 bedrooms, 
10 baths, and 13,643 sq.ft. is listed for sale at $22,000,000

3001 Pacific Ave, San Francisco, CA 94115

Prime Pacific Heights Mansion! This grand Pacific Heights residence has been renovated and rebuilt on all five levels. Enter through a dramatic foyer to a magnificent formal living and dining room, prep kitchen, and deck leading down to the large garden and the 2 garages (each housing 2 cars). There are a total of 8 bedrooms across the 4 main floors including two master suites, six full baths and eight half baths, and a private elevator. The third level houses an open living/dining room and beautiful chef's kitchen and the fourth floor boasts an entertainment room with a magnificent downtown view. The basement level houses living quarters for staff, laundry room and wine cellar, as well as a full catering kitchen.

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115

3001 Pacific Ave, San Francisco, CA 94115






Today's Top Real Estate News


By Mike McPhate
New York Times


Increasingly, even well-off professionals are finding they can no longer afford to live in the San Diego area. The fight for more housing has a new war room in San Diego.  In October, the county’s median home price was the highest in a decade — $507,500 — according to CoreLogic, a data analysis company.

Part of the problem, housing experts say, is simply a shortage of units that is driving demand. As the number of San Diegans has risen, new housing construction has failed to keep paceAnd one reason for the lack of construction? The residents of San Diego.

About six months ago, frustration over San Diego’s inability to lift its housing stock led to the formation of Housing You Matters, a coalition that includes business, building and environmental organizations.The group has raised about $50,000 toward its mission to break the housing impasse through research and advocacy. Mary Lydon, the group’s project consultant, said everybody needs to step back and think about the big picture.

“We have to come up with a story that connects the dots of where great cities are headed and what you need to have to be competitive,” she said.

Housing You Matters appears to represent San Diego’s first formal organization of so-called Yimbys — an acronym for “Yes in My Backyard” and a wordplay on Nimby, or “Not in My Backyard.” For now, its numbers are in the dozens, much fewer than with longer established efforts in the San Francisco Bay Area.

The San Diego advocates say they are challenging an attitude that flared during a recent housing battle in Poway, about 20 miles from downtown San Diego. A project was proposed to build 22 units of affordable housing for veterans on a vacant lot in town. At an emotional hearing on Nov. 15, several residents attested to their admiration of veterans, but many also denounced the plan. It would be an eyesore and a traffic nightmare, they said.

“Are we going to have any open land left in Poway?” Tom Scott, a 40-year resident, asked the City Council. “Or are we going to build on it?”

The project was rejected with a 3-to-2 vote.

Many of San Diego’s Yimbys are millennials who say they’re fed up with spending upward of 40 percent of their income on housing. “The older people, they already have their house,” said Chance Shay, 28, who became a father last year. “Now that they have their homes, they’re saying, ‘Hey, I don’t want a bunch of other houses built. I like my green space.’”

The debate seems likely to grow more heated. By 2050, the San Diego region is expected to add nearly a million people who will drive demand for an additional 330,000 housing units, according to government data.  Ms. Lydon noted that much of that population growth is expected to come from families within the region. “So, these are our children,” she said. “We have to figure out how to house them


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 year. 

#1     10325 Bannockburn Drive, LA-Rancho Park, CA 90064 with 4 bedrooms, 5 baths, and 3018 sq.ft. is listed for sale at $2,650,000.

Property Image Of 10325 Bannockburn Drive In Los Angeles, Ca



Remodeled character country french home. Peg and groove hardwood floors, redone kitchen and baths, large family room with wet bar and swimming pool in back! Square footage was measured by r.E.S.T. (buyer to due their own investigations for same) all 3 bedrooms upstairs are en-suite. The possible maids quarters is on the bottom floor or lower level with a 3/4 bath. Other features include central ac (2 zones), viking range, walk-in closets, french windows and doors and indoor access from the garage into the house.

Property Image Of 10325 Bannockburn Drive In Los Angeles, Ca

Property Image Of 10325 Bannockburn Drive In Los Angeles, Ca

Property Image Of 10325 Bannockburn Drive In Los Angeles, Ca

Property Image Of 10325 Bannockburn Drive In Los Angeles, Ca

Property Image Of 10325 Bannockburn Drive In Los Angeles, Ca

Property Image Of 10325 Bannockburn Drive In Los Angeles, Ca
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     10211 E Chino Drive, Phoenix-Scottsdale, AZ 85255 with 5 bedrooms, 8 baths, and 6,796 sq.ft. is listed for sale at $5,495,000
10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

Deluxe custom residence in the esteemed Silverleaf: Property includes 6429 SF Main House, 1200 SF Guest House, 670 SF Pool House, 2 separate pools, a spa, grass back lawn area, and  4 car garage. Interiors are finished with only the best including imported stone, cabinetry and furniture like built-ins, top of the line appliances, wood beamed and bricked ceilings, 7 fireplaces, hand laid herringbone patterned plank flooring, plus a wine room with tasting station and refrigerated cellar. Spacious master is an extended suite with large seating area leading to private balcony plus a luxurious bath area complete with a steam shower; dual access to the master provided by elevator.

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

10211 E Chino Dr Unit 1143, Scottsdale, AZ 85255

Today's Top San Diego Luxury Estate
Image result for san diego skyline pictures

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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 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     6349 Castejon Drive, San Diego-La Jolla, CA 92037 with 4 bedrooms, 3 baths, 
and 3,114 sq.ft. is listed for sale at $2,100,000.

6349 Castejon Dr, La Jolla, CA 92037

Extensive design reflects owners care and interest in this special single level property. Complete privacy and gorgeous city to ocean views. One of the longest private drives in La Jolla leads you to this magical setting on nearly a half acre.  Ready for you to take to the next level!

6349 Castejon Dr, La Jolla, CA 92037

6349 Castejon Dr, La Jolla, CA 92037

6349 Castejon Dr, La Jolla, CA 92037

6349 Castejon Dr, La Jolla, CA 92037

6349 Castejon Dr, La Jolla, CA 92037

6349 Castejon Dr, La Jolla, CA 92037

6349 Castejon Dr, La Jolla, CA 92037


6349 Castejon Dr, La Jolla, CA 92037


Today's Top San Francisco Luxury Estate

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     3  Trestle Glen Circle (home site), Tiburon, CA 94920 with plans for custom 5 bedroom, 6 bath, and 4,391 sq.ft  estate is listed for sale at $2,295,000 (lot only)



Located moments from Blackie's Pasture and the infamous Northern Pacific RR Train Trestle, this custom estate property is permit ready. Sited on 4.8acres, this home boasts 5 en suite BR's, w/4300+ sq.ft. of living space, 1400+ sq.ft. of bonus space & a 3 car gar. The captivating modern design enjoys vistas of Mt. Tam, Ring Mt. and open space. Complete details on property website.














Today's Top Seattle Luxury Estate

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     2307 43rd Avenue East  #B  Seattle-Madison Park, WA 98112 with 3 bedrooms, 
4 baths and 2,474 sq,ft, is listed for sale at $2,900,000 

2307 43rd Ave E Unit B

Unparalleled views of Lake Washington, this highly anticipated distinct condominium, Built by Barcelo Condominiums, provides three private residences, with three bedrooms and three and a half bath, around 2400 square feet of built green luxury. Multiple private outdoor spaces and 2 parking spaces and large private storage rooms. The Odessa is designed to cater to the busy lifestyle of residents while insuring, optimal comfort and convenience in a Luxury setting for its residents.

2307 43rd Ave E, Seattle, WA

2307 43rd Ave E, Seattle, WA

2307 43rd Ave E, Seattle, WA

2307 43rd Ave E, Seattle, WA

2307 43rd Ave E, Seattle, WA

2307 43rd Ave E, Seattle, WA

2307 43rd Ave E, Seattle, WA

2307 43rd Ave E, Seattle, WA
Mortgage Rates Daily Update                                                                      52 Week
ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.38%4.27%+0.113.34%4.38%
15 Yr FRM3.58%3.46%+0.122.69%3.58%
FHA 30 Year Fixed4.10%4.00%+0.103.15%4.10%
Jumbo 30 Year Fixed4.40%4.32%+0.083.41%4.40%
5/1 Yr ARM3.25%3.14%+0.112.80%3.25%
Updated: 12/15/16 1:43 PM
Mortgage Rates Quickly Approaching 4.5%
Dec 15 2016, 3:32PM

Don't believe anything you read about mortgage rates today... well, except this. In fact, you're welcome to believe anything you read as long as it acknowledges the fact that rates have risen nearly a quarter of a point from last week, pushing them well into the highest levels in more than 2 years.  The average top tier conventional 30yr fixed rate is quickly approaching 4.5%.  Nearly every lender that was at 4.125% last week is now at 4.375%. Lenders who were at 4.25% last week are mostly up to 4.5%.  

The overall spike in rates since the election is now on par with the 2013 taper tantrum.  You'll hear time and again "don't worry... rates are historically low..." and my personal favorite "for every .125% in rate, the payment only rises $7 per $100k borrowed."  All of that is true, except perhaps for the "don't worry" part.  Some borrowers may need to worry about no longer qualifying due to debt-to-income guidelines. 

Rates haven't risen a mere .125%, after all.  That's just today's increase.  Added to recent losses, the damage is between .75 and 1.0% now.  Let's take a more average loan amount of $250k and see what happens when the rate goes up 0.75.  The increase is over a hundred dollars a month.  

Many of the people interviewed by financial journalists have a hard time relating to most of the people that will end up being exposed to their opinions.  $100/month may not sound like the end of the world to the CEO of some financial firm, but it is more than enough to tip the scales for prospective homebuyers.  They'll have to adjust their price range at least $20k to get back to the same payment.  If that's not an option for the area, then they're no longer a prospective homebuyer, or they'll be forced to move out of the area.  This dynamic is not congruent with "not worrying."  

Oh, and you'll also need to worry if rates will continue to move higher.  That's possible, although for technical reasons, the higher rates go, the more challenging it will be to continue higher.  It's also possible that markets are riding on a cloud of optimistic euphoria and that the cloud will dissipate as the new year begins.  It's possible this rise in rates is a necessary ingredient in longer term trends.  In other words, rates have to rise so they can fall again.  Last but not least, it's possible I don't know everything and rates will go much higher than they are currently, but if that happens, it will increasingly have consequences for the economy.  

Loan Originator Perspective


Trend is not our friend.  In this market, you have to lock as soon as possible.  Even if we get a small rally, lenders will be hesitate to pass along improvements.   Way too much volatility. -Victor Burek, 

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.
     
  • 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. Have a comment? Looking for more information? Call or email me.  Most importantly, have a great day!


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