Wednesday, January 25, 2017


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    1006 Laurel Way, Beverly Hills, CA 90210 with 6 bedrooms, 12 baths, 
and 17,400 sq.ft. is listed for sale at $34,995,000.

1006 Laurel Way, Beverly Hills, CA 90210

Exceptional Beverly Hills Villa located in prime Beverly Hills just North of Sunset Blvd. Situated on a tremendous over 39,000 sq.ft. lot, this property is gated and grand with over 17,000 sq.ft. of living space. Brand new construction offering exquisite detail, superior quality, & incredible volume w/large rooms & high ceilings. Formal foyer leading to the impressive main gallery connecting the public rooms on the main level including living rm, family rm, bar, wood-paneled library, formal dining rm, and stunning gourmet kitchen. Upstairs offers 4 family bdrm suites and gorgeous master suite with fireplace, private balcony, dual walk-in closets, and luxurious dual baths. The lower level offers wonderful space for entertaining including media room w/bar, wine room, movie theater, an gym. The absolutely spectacular backyard is a truly resort-style setting with abundant patio space, intricate landscaping, built-in bar and BBQ, putting green, & impressive circular pool and spa. Subterranean 8-car garage.

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210

1006 Laurel Way, Beverly Hills, CA 90210


Today's Top Real Estate News  
Existing Home Inventory Hits Record Low
By Jann Swanson
Mortgage News Daily

Existing home sales finished out 2016 with a generally expected decline.  Still, the National Association of Realtors® (NAR) said today that 2016 overall was the best year for existing home sales in a decade.

Sales of existing single-family homes, townhomes, condominiums, and co-ops were at a seasonally adjusted rate of 5.49 million in December.  This was down 2.8 percent from an upwardly revised (from 5.61 million) 5.65 million units in November. The month's slide brought sales down to only 0.7 percent higher than they were a year ago compared to a 15.4 percent year-over-year increase in November.

NAR estimated that sales for the year as a whole were 5.45 million units.  This surpasses the 2015 total of 5.25 million and is the highest total since 2006 when sales reached 6.48 million.  

Analysts polled by Econoday had expected sales to slide, but not quite so far.  They were looking within a range of 5.45 to 5.59 million, with a consensus of 5.55, which would have been a 1.1 percent decline.

Single-family home sales were at a seasonally adjusted annual rate of 4.88 million in December, a loss of 1.8 percent compared to from November.  The December 2016 sales were 1.5 percent higher than those in December 2015, a 4.81 million pace.  Existing condominium and co-op sales dropped 10.3 percent to a seasonally adjusted annual rate of 610,000 units, and are now 4.7 percent below the previous year.

Lawrence Yun, NAR chief economist, says the housing market's best year since the Great Recession ended on a healthy but somewhat softer note. "Solid job creation throughout 2016 and exceptionally low mortgage rates translated into a good year for the housing market," he said. "However, higher mortgage rates and home prices combined with record low inventory levels stunted sales in much of the country in December."

Added Yun, "While a lack of listings and fast rising home prices was a headwind all year, the surge in rates since early November ultimately caught some prospective buyers off guard and dimmed their appetite or ability to buy a home as 2016 came to an end." 

The inventory of existing homes shrunk to the lowest level in NAR's records which date back to 1999.  There were 1.65 million existing homes available for sale at the end of December, down 10.8 percent from November and 6.3 percent from the previous December.  Inventories have fallen year-over-year for 19 consecutive months.  NAR estimates that the current inventory represents a 3.6-month supply at the current rate of sales, down from 3.9 percent in December 2015.

The median price for all types of existing homes sold during the last month of the year was $232,200, a 4.0 percent gain from the December 2015 median of $223,200 and the 58th consecutive month of year-over-year price increases.  Single-family homes sold at a median price of $233,500, up 3.8 percent while condo prices rose 5.5 percent on an annual basis, to $221,600.

 "Housing affordability for both buying and renting remains a pressing concern because of another year of insufficient home construction," said Yun. "Given current population and economic growth trends, housing starts should be in the range of 1.5 million to 1.6 million completions and not stuck at recessionary levels. More needs to be done to address the regulatory and cost burdens preventing builders from ramping up production."

Five percent of December home sales were foreclosures and 2 percent were short sales, a slight uptick from the 6 percent share of distressed sales in November but down from an 8 percent share the previous December.   Foreclosures sold for an average of 20 percent below market value in December (17 percent in November), while short sales were discounted 10 percent (16 percent in November).

Investors accounted for 15 percent of sales during the month, up from 12 percent in November, and 59 percent of them paid all cash for the properties they bought. Twenty-one percent of the total transactions in December were all cash. 

Thirty-two percent of home buyers in December were first-timers; unchanged from both the previous month and a year earlier.  This was also the share for the entirety of 2016.  Yun noted that constrained inventory and climbing rents, home prices and mortgage rates mean, "It's not getting any easier to be a first-time buyer.  It'll take more entry-level supply, continued job gains and even stronger wage growth for first-timers to make up a greater share of the market," he said.

NAR President William E. Brown says Realtors look forward to expressing to the Federal Housing Administration why it is necessary to follow through with the previously announced decision to reduce the cost of mortgage insurance. (The reduction was suspended by the incoming Trump Administration.)  Brown said that cutting annual premiums from 0.85 percent to 0.60 percent makes an FHA-insured mortgage a more viable and affordable option for first-time buyers.

"Without the premium reduction, we estimate that roughly 750,000 to 850,000 homebuyers will face higher costs and between 30,000 and 40,000 would-be buyers will be prevented from entering the market," he said.

Marketing time rose in December to a typical period of 52 days from 43 days in November but as six days shorter than typical "days on market" in December 2015.  Short sales were on the market the longest at a median of 97 days in December, while foreclosures sold in 53 days and non-distressed homes took 50 days. Thirty-seven percent of homes sold in December were on the market for less than a month.

Existing-home sales in the Northeast slid 6.2 percent to an annual rate of 760,000, but are still 2.7 percent above a year earlier. The median price was down 3.8 percent year-over-year to $245,900.  

Sales also dipped in the Midwest, falling 3.8 percent to an annual rate of 1.28 million in December.  The pace remains 2.4 percent ahead of last year. The median price in the Midwest was $178,400, up by 4.6 percent on an annual basis.

Sales in the South were unchanged from November at an annual rate of 2.25 million and were 0.4 percent higher than in December 2015.  The median price in the South was $207,600, a 6.5 percent annual increase.

The West saw sales decline by 4.8 percent for the month and 1.6 percent annually to a rate of 1.20 million units.  The median price in the West was $341,000, up 6.0 percent from December 2015.
Today's Top LA Luxury Estate Listed For Sale 



The median home value in Los Angeles County is $551,600. Los Angeles County home values have gone up 7.4% over the past year, Zillow predicts they will rise 2.6% within the next year.

The median home value in Brentwood, 90049 is $2,523,000. Brentwood home values have gone up 10.5% over the past year.  Zillow predicts they will rise 3.0% with the next year.

The median home value in Malibu  is $2,893,700.  Malibu home values have gone up 6.6% 
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 $3,309,900. Bel  Air home values have gone up 5.3% over the past year.  Zillow predicts they will rise 1.8% within the next year.  
  
#1     11898 Ellice Street, Malibu, CA 90265  with 4 bedrooms, 6 baths, and 
6,000 sq.ft. is listed for sale at $7,999,000.

11898 Ellice St, Malibu, CA 90265

Private luxury Marisol contemporary ranch style Estate. This fully automated home offers luxury coastal living at its finest with head on Pacific Ocean Views. Secluded behind private gates, this Estate features four bedrooms all with ensuites, an opulent Master Wing, private home gym, wine cellar, media room with built in speakers, home office all incorporating elegant modern amenities with seamless indoor and outdoor living flow. You feel like you've stepped into an island resort as you enter the master bedroom wing with vaulted ceilings, whitewash pine floors, sun drenched ocean views and master bathroom with soaking tub, shower, custom double vanity, his and her closets, and see-through fireplace. Living room with gorgeous custom Fleetwood doors overlooking the built in BBQ & outdoor kitchen, pool with spa, & hammock. Chef's kitchen with Caesarstone countertops, teak veneer cabinets, & stainless steel Wolf/Sub Zero appliances. Resort style grounds complete this Malibu dream home.

11898 Ellice St, Malibu, CA 90265

11898 Ellice St, Malibu, CA 90265

11898 Ellice St, Malibu, CA 90265

11898 Ellice St, Malibu, CA 90265



11898 Ellice St, Malibu, CA 90265

Today's Top Phoenix Luxury Estate Listed For Sale 
.
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

The median home value in Scottsdale is $416,400. Scottsdale home values have gone up 4.0% over the past year. Zillow predicts they will rise 2.4% withiin the next year.

The median home value in Carefree is $750,000. Carefree home values have gone up 
4.8% over the past year.  Zillow predicts they will rise 2.7% within the next year.

The median home value in Paradise Valley is $1,609,500. Paradise Valley home values have gone up 2.7% over the past year. Zillow predicts they will 2.0% with the next year.
      
#1     5801 N Cameldale Way, Paradise Valley, AZ 85253 with 4 bedrooms, 6 baths, 
and 12,909 sq.ft. is listed for sale at $9,953,000.

5801 N Cameldale Way, Paradise Valley, AZ 85253

World-Famous Camelback Mountain stands as the dramatic backdrop for this estate on ~5 coveted acres. Towering trees, pops of color, and a wink to the whimsy in all of us. Art Deco meets the West? Quite simply this handsome hideaway is extraordinary! Desert landscape vanishes as you enter this gated, private estate. 30' soaring ceilings and lush grounds create luxury on the grandest of scales. Whether tending roses in your private garden, enjoying the sparkling pool, lazing in the hammock near the pond, or enjoying mountain views and sunshine from every room, this rare property feels like home. Attention to every detail: 12,000+ SF; 4 bedroom, 6 bath, +fitness +office +library +billiards rooms. Pragmatic and open floor plan provides flexibility for every lifestyle. Let's make it yours!

5801 N Cameldale Way, Paradise Valley, AZ 85253

5801 N Cameldale Way, Paradise Valley, AZ 85253

5801 N Cameldale Way, Paradise Valley, AZ 85253

5801 N Cameldale Way, Paradise Valley, AZ 85253


5801 N Cameldale Way, Paradise Valley, AZ 85253

5801 N Cameldale Way, Paradise Valley, AZ 85253

Today's Top San Diego Luxury Estate Listed For Sale


The median home value in San Diego County is $529,500. San Diego County home values have gone up 6.3% over the past year. Zillow predicts they will rise 2.4% within the next year.

The median home value in La Jolla, 92037 is $1,497,500. La Jolla, 92037 home values have gone up 6.5% over the past year.  Zillow predicts they will rise 2.3% within the next year.

The median home value in Solana Beach 92075 is $1,250,700. Solana Beach 92075 home values have gone up 3.3% over the past year.  Zillow predicts they will rise 2.5% within the next year.

The median home value in Del Mar 92014 is $1,675,700. Del Mar home values have gone up 9.1% over the past year.  Zillow predicts they will rise 2.5% with then next year.

The median home value in Rancho Santa Fe is $2,675,200. Rancho Santa Fe home values have declined -4.3% over the past year and Zillow predicts they will fall -1.1% within the next year.  
    
#1    7012 Rancho La Cima Drive, Rancho Santa Fe, CA 92067 with 9 bedrooms, 
11 baths, and 8,282 sq.ft. is listed for sale at $3,295,000.

7012 Rancho La Cima Dr, Rancho Santa Fe, CA 92067

Live the life in this freshly remodeled traditional family home with the perfect balance of style and sophistication. Functional family floor plan with separate spaces for entertaining, relaxation and recreation. Sleek main level master suite with sitting room and luxurious bath, cook's kitchen, bar/wine cellar, media room, game room, wood paneled office, and fully appointed private guest apartments with separate entrance. 2+ acre park like sanctuary includes pool/spa, gazebo, bbq and inviting fireplace.

7012 Rancho La Cima Dr, Rancho Santa Fe, CA 92067

7012 Rancho La Cima Dr, Rancho Santa Fe, CA 92067

7012 Rancho La Cima Dr, Rancho Santa Fe, CA 92067

7012 Rancho La Cima Dr, Rancho Santa Fe, CA 92067




Today's Top San Francisco Luxury Estate Listed For Sale


Image result for San Francisco skyline pictures

The median home value in San Francisco is $1,146,800. San Francisco home values have gone up 1.6% over the past year.  Zillow predicts they will rise 0.3% within the next year.

The median home value in Sausalito is $1,258,500. Sausalito home values have gone up 4.8% over the past year. Zillow predicts they will rise 0.5% within the next year. 

The median home value in Tiburon is $2,475,900. Tiburon home values have gone up 2.0% over the past year.   Zillow predicts they will rise 0.8% within the next year. 

The median home value in Saratoga is $2,372,300. Saratoga home values have gone up 0.8% over the past year.  Zillow predicts they will fall -0.3% within the next year. 

#1      16040 Overlook Drive, Los Gatos, CA 95030 with 5 bedrooms, 7 baths, and 11,507 sq.ft. is listed for sale at $9,488,000

16040 Overlook Dr, Los Gatos, CA 95030

A true masterpiece of Contemporary design blended in with Old world charm and comfort. The home itself is a work of art. The 6 year new house offers all the amenities that one would desire in a custom floor plan such as home of this magnitude offers. There is approximately 11,500 square feet of livable space. Set atop a 3 Acre knoll, you are offered commanding views from San Francisco to the Santa Clara Valley. But what's truly magnificent is the picturesque Mountain views that are so surreal, you can almost reach out and touch them from any of the two decks. First floor wood deck wraps around the entire home. But the second story 6000sf+/- travertine deck offers a most outstanding view and perspective of our world. Every aspect of the unique custom design and quality finishes is evident from the moment you enter the home. It just is a must see!


16040 Overlook Dr, Los Gatos, CA 95030

16040 Overlook Dr, Los Gatos, CA 95030

16040 Overlook Dr, Los Gatos, CA 95030

16040 Overlook Dr, Los Gatos, CA 95030

16040 Overlook Dr, Los Gatos, CA 95030

16040 Overlook Dr, Los Gatos, CA 95030

16040 Overlook Dr, Los Gatos, CA 95030

16040 Overlook Dr, Los Gatos, CA 95030

16040 Overlook Dr, Los Gatos, CA 95030

Today's Top Seattle Luxury Estate Listed For Sale

Image result for Seattle

The median home value in Kirkland is $594,400.  Kirkland home values have gone up 13.1% over the past year.  Zillow predicts they will rise 5.3% within the next year.

The median home value in Seattle is $609,100. Seattle home values have gone up 13.3% over the past year. Zillow predicts they will rise 4.7% within the next year.

The median home value in Bellevue is $751,300. Bellevue home values have gone up 13.5% over the past year. Zillow predicts they will rise 4.8% within the next year. 

The median home value in Clyde Hill is $2,149,500. Clyde Hill home values have gone up 7.7% over the past year. Zillow predicts they will rise 3.3% within the next year 

The median home value in Medina is $2,353,600. Medina home values have gone up 
10.6% over the past year and Zillow predicts they will rise 4.2% within the next year. 

#1     4244 92nd Avenue NE, Yarrow Point, WA 98004 with 5 bedrooms, 5 baths, and 5,697 sq.ft. is listed for sale at $4,495,000

4244 92nd Ave Ne, Yarrow Point, WA 98004

Showcasing spectacular views of Lk WA through walls of windows and elevated 2nd floor terrace, this 5,697 sq.ft,  BDCL Design International + Stackman Custom Homes collaboration pairs urban luxury living w/ exquisite details and the finest materials. A seamless floor plan including Chefs kitchen, main floor guest suite, and oversiftzed living room top off this incredible home. An artfully landscaped backyard with built-in fireplace and private entertaining area extends the lifestyle outdoors.

4244 92nd Ave Ne, Yarrow Point, WA 98004

4244 92nd Ave Ne, Yarrow Point, WA 98004

4244 92nd Ave Ne, Yarrow Point, WA 98004

4244 92nd Ave Ne, Yarrow Point, WA 98004

4244 92nd Ave Ne, Yarrow Point, WA 98004

4244 92nd Ave Ne, Yarrow Point, WA 98004

4244 92nd Ave Ne, Yarrow Point, WA 98004




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!

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