Thursday, December 1, 2016


Today's 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 then 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 Mansions 
www.todaysbestmansionsforsale.com  

#1      72 Pocomo Road, Nantucket, MA 02554 with 7 bedrooms, 10 baths, and 
6,847 sq.ft. is listed for sale at $28,500,000.

MLS #: 82399

Entirely unique waterfront compound with 300 degree dramatic views, privacy, direct access to a gorgeous sandy beach, boat moorings and multiple dwellings. The "Main House" at 72 Pocomo Rd. has 4 bedrooms (3 en-suite) plus an attached "Studio" which serves as a pool house or additional bedroom with full bathroom and kitchenette. The "Cottage" includes two bedrooms and two bathrooms plus a gym with a full bathroom that could be set up as a bedroom. The "Garage" has storage for 6 cars and the "Pavilion" at 78 Pocomo Road has a commercial kitchen, world class 3,500 bottle wine cellar and tasting room and 1 bedroom and 1 bathroom. Private beach stairs and a tennis court complete this elevated, waterfront compound with first floor water views of Nantucket Harbor, Medouie Creek, Town, Coatue, and Great Point Light House situated on over 5 acres.

MLS #: 82399

MLS #: 82399

MLS #: 82399

MLS #: 82399

MLS #: 82399

MLS #: 82399

MLS #: 82399


MLS #: 82399

MLS #: 82399


Today's Top Real Estate News

U.S. Housing Prices Exceed Housing-Boom Levels


By Kathy Orton
The Washington Post

Home prices nationally reached a new high, surpassing the previous best set during the housing boom.

The average home price in September rose 0.1 percent above the July 2006 peak, according to the Standard & Poor’s/Case-Shiller index released Tuesday. However, adjusted for inflation, the index remains about 16 percent below peak.

The Case-Shiller index measures repeat sales of single-family homes. The September figures are the latest available.

Home prices climbed 5.5 percent annually and 5.1 percent from August, the 53rdconsecutive month of positive gains. Seattle; Portland, Ore., and Denver had the biggest year-over-year gains among the 20 cities. Seattle had an 11 percent annual increase, while Portland had a 10.9 percent increase and Denver an 8.7 percent increase. Washington had one of the smaller increases, rising 2.7 percent.
“The new peak set by the S&P Case-Shiller CoreLogic National Index will be seen as marking a shift from the housing recovery to the hoped-for start of a new advance,” David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said in a statement.

After peaking in July 2006, home prices bottomed out in February 2012. The most harmful result of the housing bust was the steep decline in home values, which left millions of homeowners owing more on their mortgages than their homes were worth. The steady rise in home values, which began in 2013, has been good news for underwater borrowers. But it has made homeownership less affordable for others. Low mortgage rates have helped fuel the rise in prices as has a limited supply of homes for sale.

Bill Banfield, Quicken Loans vice president, dismissed fears the housing market was experiencing another bubble.“With home prices growing to record highs, it’s important to remember this isn’t driven by speculation or easy credit like a decade ago,” Banfield said. “It is led mostly by constrained home availability as buyers continue to battle over the few homes for sale, especially in the West. We may see a retreat in home prices when supply opens up, increasing choice for buyers and the health of the housing market.”
Although prices have bounced back, many economists tempered their enthusiasm about what it means for the housing market’s overall health.

“Crossing this threshold is largely symbolic,” said Ralph McLaughlin, Trulia chief economist. “The housing market recovery has been very uneven across the U.S. When controlling for inflation, markets that have reached their pre-recession peaks are few and almost exclusively in the West and South. And within those markets, it’s most high-end McLaughlin noted that Pittsburgh and Buffalo are the only two markets outside the South and West where home prices have recovered to pre-recession levels and that recovery is limited to trade-up and premium homes.

Zillow chief economist Svenja Gudell echoed McLaughlin’s sentiments.

“The U.S. National Case-Shiller home price index has essentially regained all losses sustained during the housing bust and is at, above or very near peak levels in many markets,” she said. “But it isn’t smart to confuse this full recovery in housing prices with a full recovery in the housing market overall. Big imbalances still exist between renters and homeowners, and home buyers and home sellers, and there’s still a long way to go before the market reaches full equilibrium.”

Gudell is optimistic, though. She points to rising incomes and a slowdown in rental price growth. She also said that buyers, especially young buyers, are still out there in droves despite the strong headwinds.




Today's Top LA Luxury Estate


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The median home value in Los Angeles County is $532,800. Los Angeles County home value have gone up 6.3% over the past year and Zillow predicts they will rise 0.9% within the next year

The median home value in Brentwood, 90049 is $2,302,200. Brentwood home values have gone up 3.7% over the past year and Zillow predicts they will rise 0.6% within the next year

The median home value in Malibu is $2,500,600. Malibu home values have declined -0.8% over the past year and Zillow predicts they will fall -0.7% within the next year.

The median home value in Beverly Hills is $2,998,500. Beverly Hills home values have gone
 up 4.7% over the past year and Zillow predicts they will rise 0.2% within the next year.
  
#1     3640 Noranda Lane, Malibu, CA 90265, coastal development opportunity
 with 1 bedroom, 1 bath existing complex on 9 acres listed for sale at $10,000,000.

3640 Noranda Ln, Malibu, CA 90265

Gated and up a private paved road is this appx. 24 acre serene and magical property with ocean views. Offering flowing ponds, fruit, nut, and mature trees, cactus garden, a 1-acre vineyard, 4-stalls with rustic stone tack and feed rooms, small riding ring, portico leading to a charming studio GH, huge storage facility, an incredible massive cliff waterfall with entertaining area below and much more. Per owner, the property has a vested Coastal Development Permit (CDP) for development of a single-family dwelling and ancillary facilities, designed by architect, John Lautner, from the Coastal Commission. Under the policies of the City of Malibu, the property can be developed in a manner different from the plans that have the vested CDP, and do not need to obtain a new CDP but must stay within the foot print and  height of the vested improvements. Will be entitled to obtain an Administrative Plan Review (APR) as opposed to a new CDP. Under the City of Malibu Ordinance, an APR is processed more quickly than a CDP.

3640 Noranda Ln, Malibu, CA 90265


3640 Noranda Ln, Malibu, CA 90265


3640 Noranda Ln, Malibu, CA 90265


3640 Noranda Ln, Malibu, CA 90265



3640 Noranda Ln, Malibu, CA 90265


3640 Noranda Ln, Malibu, CA 90265



3640 Noranda Ln, Malibu, CA 90265

Today's Top Phoenix Luxury Estate
Image result for phoenix skyline photos
The median home value in Scottsdale is $416,600. Scottsdale home values have gone up 4.2% over the past year and Zillow predicts they will rise 2.5% within the next year.
The median home value in Carefree is $737,400. Carefree home values have gone up 3.0% over the past year and Zillow predicts they will rise 2.1% within the next year.
The median home value in Paradise Valley is $1,639,200. Paradise Valley home values have gone up 3.4% over the past year and Zillow predicts they will rise 2.3% within the next year

#1     6224 N Yucca Road, Paradise Valley, AZ 85253 with 4 bedrooms, 6 baths, and 5,722 sq.ft. is listed for sale at $3,150,000
6224 N Yucca Rd, Paradise Valley, AZ 85253

One of Finisterre's first homes updated to reflect today's lifestyle. The lot and setting are perfect with big views of the Camel's head. You are met by the long gallery hallway that moves to a light-filled great room offering the ultimate in flexibility in an elegant setting. The living space centers around the modern chic kitchen, with the best of everything, that opens to the breakfast area/family room. The master suite is very private with a fantastic bathroom that offers both an indoor and outdoor shower. Outside is spectacular with rolling lawns, formal view patio, a rose-covered dining area, greenhouse, fruit grove and the Valley's best guest house with a living room, kitchen, pool bath and 2 en suite bedrooms. Magical!

6224 N Yucca Rd, Paradise Valley, AZ 85253

6224 N Yucca Rd, Paradise Valley, AZ 85253

6224 N Yucca Rd, Paradise Valley, AZ 85253















6224 N Yucca Rd, Paradise Valley, AZ 85253

6224 N Yucca Rd, Paradise Valley, AZ 85253

6224 N Yucca Rd, Paradise Valley, AZ 85253


6224 N Yucca Rd, Paradise Valley, AZ 85253



Today's Top San Diego Luxury Estates

Image result for san diego skyline art

The median home value in San Diego County is $516,200. San Diego County home values have gone up 5.2% over the past year.  Zillow predicts they will rise 1.9% within the next year. 

The median home value in La Jolla is $1,685,000. La Jolla home values have gone up 6.1% over the past year and Zillow predicts they will rise 2.1% within the next year

The median home value in Solana Beach, 92075 is $1,257,000. Solana Beach home values have gone up 2.6% over the past year and Zillow predicts they will rise 1.4% within the next year.
     
#1      7712 Moonridge Place, La Jolla, CA 92037 with 5 bedrooms, 6 baths, and 5,696 sq.ft. is listed for sale at $4,395,000

7712 Moonridge Pl, La Jolla, CA 92037

Remodeled home situated on a quiet cul-de-sac. Spectacular, unobstructed ocean and mountain views. With the formal living and dining rooms, spacious family room, library, luxurious master suite, and entertainment areas, this home has it all. Prepare culinary delights in the chef's kitchen w/ top-of-the-line stainless steel appliances. Dramatic outdoor entertaining area includes pool, spa and outdoor fireplace

7712 Moonridge Pl, La Jolla, CA 92037

7712 Moonridge Pl, La Jolla, CA 92037

7712 Moonridge Pl, La Jolla, CA 92037

7712 Moonridge Pl, La Jolla, CA 92037




Today's San Francisco Luxury Estate


Image result for san francisco skyline photos


The median home value in San Francisco is $1,104,000. San Francisco home values have gone up 0.6% over the past year and Zillow predicts they will fall -0.4% within the next year.

The median home value in Sausalito is $1,203,400. Sausalito home values have gone up 6.6% over the past year and Zillow predicts they will rise 0.9% within the next year

The median home value in Tiburon is $2,360,800. Tiburon home values have gone up 2.6% over the past year and Zillow predicts they will fall -0.0% within the next year.

The median home value in Saratoga is $2,331,600. Saratoga home values have gone up 1.1% over the past year and Zillow predicts they will fall -1.1% within the next year.


#1      12620 Zappettino Court, Los Altos Hills, CA 94022, with 5 bedrooms, 6 baths,
and 6,064 sq.ft. is listed for sale at $6,100,000.




Elegant gated estate on almost 2 acres with Hill views. 5 bedrooms, 5.5 bathrooms plus office. Vast lawns, manicured gardens, pool with waterfall spa and limestone terraces. Elegant living room, formal dining room and family room with fireplace. Gourmet kitchen with top of the line appliances. Expansive master retreat with large walk-in closets and sauna. Wine cellar, 3-car garage and excellent Los Altos schools.














Today's Top Seattle Luxury Estates

Image result for seattle skyline photos



The median home value in Kirkland is $576,800. Kirkland home values have gone up 
14.6%  over the past year and Zillow predicts they will rise 7.1% within the next year.

The median home value in Seattle is $592,200. Seattle home values have gone up 

15.3% over the past year and Zillow predicts they will rise 6.9% within the next year. 

The median home value in Bellevue is $730,000. Bellevue home values have gone up 13.6% over the past year and Zillow predicts they will rise 5.9% within the next year

The median home value in Mercer Island is $1,240,400. Mercer Island home values have 
gone up 12.2% over the past year and Zillow predicts they will rise 6.4% within the next year.

The median home value in Clyde Hill is $2,200,500. Clyde Hill home values have gone up 10.1% over the past year and Zillow predicts they will rise 5.5% within the next year.
   
#1     925 80th Avenue NE, Medina, WA 98039 with 5 bedrooms, 6 baths, and

5,750 sq.ft. is listed for sale at $3,198,000.



Medina sophisticated northwest-inspired custom home. Featuring luxurious finishes of stone, cherry hardwoods, and handcrafted millwork. The grand great room impresses with its barrel ceiling and; floor-to-ceiling stone fireplace. The well-appointed professional style 

kitchen would delight any chef and adjoins the dining room. The elegant spacious main level master has garden views. Media, wine cellar, gym and guest suite invites casual entertainment. Beautifully designed and elegantly executed.

925 80th Ave NE



































































































Mortgage Rates Daily Update                                                                  52 Week

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.13%4.10%+0.033.34%4.19%
15 Yr FRM3.34%3.32%+0.022.69%3.39%
FHA 30 Year Fixed3.80%3.75%+0.053.15%3.80%
Jumbo 30 Year Fixed4.19%4.17%+0.023.41%4.25%
5/1 Yr ARM3.02%3.00%+0.022.80%3.10%
Updated: 11/30/16 3:33 PM



Mortgage Rates Moderately Higher

Mortgage rates rose moderately today, bringing them roughly back in line with Monday's levels.  For the record, that leaves us in slightly better shape than last week, which saw the highest rates in more than a year.  Today's bond market weakness was driven primarily by the much-anticipated OPEC deal.  What is the OPEC deal and why is it impacting mortgage rates?  

The OPEC deal essentially serves as an agreement among OPEC countries to limit oil production.  The goal is to push oil prices higher.  Higher oil prices imply higher inflation, and inflation is an enemy to low interest rates.  With this logic, it would be easy to assume that rates would move higher any time oil prices moved higher, but that's definitely not the case.  Today's OPEC deal did more damage by influencing long-term inflation fears.  After all, if OPEC countries are willing to come to agreements like this, bond markets (which drive mortgage rates) need to account for the threat of general upward pressure on prices (due to higher fuel costs), all other things being equal.  


This inflation narrative might not have been as hot a topic were it not for the fact that longer-term inflation fears are already in the spotlight due to the Trump administration's expected policy path.  In other words, markets are already feeling defensive about inflation, so anything that adds to the risk has the power to move markets more than it otherwise might.


Given the amount of weakness in bond markets, lenders didn't move mortgage rates too terribly much.  Yes, today's rates are indeed higher than yesterday's, but not by as much as the market movement suggests.  Most lenders managed to hang on to the 4.0-4.125% range on top tier conventional 30yr fixed rate quotes.  In general, locking has been the only safe bet since the election, but risk takers can continue to use last week's highs as a stop-loss (i.e. if rates make it back to those highs, it's your cue to lock and avoid further losses).


Loan Originator Perspective


The float boat is quickly sinking.  Economic data was not mortgage rate friendly and quickly sent rates testing the recent highs.  The momentum has certainly been against us and today is just another reminder.  Tomorrow and Friday bring more key economic data and certainly can push rates above our recent resistance level of 2.42% on the 10 YR Treasury.  All new applications should lock for 45-60 days due to the volatility and the upcoming holiday lag.  For loans caught in the Trump-nado, today is a bad sign, it may be time to lock and move on, I will be patient to see if the support level holds into Friday's employment report.  -Gus Floropoulos, VP, The Federal Savings Bank


Today's Best-Execution Rates

  • 30YR FIXED - 4.125%
  • FHA/VA - 3.75-4.0%
  • 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 

                             .Image result for real estate cartoons

       
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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