Friday, January 6, 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      101 Indian Road, Palm Beach,  Florida 33480 with 8 bedrooms, 15 baths, and 18,300 sq.ft. is listed for sale at $59,000,000

101 Indian Rd, Palm Beach, FL 33480

This new construction British Colonial oceanfront estate, just completed, situated on approximately 3.58 acres with 142 feet of ocean frontage. The elegant residence, designed by Smith and Moore Architects, offers 28,500 +/- total square feet of luxurious living space and spectacular ocean views. Combined the main house, guest house and cabana have 8 bedrooms, 12 full baths and 3 half baths. Other features include: wine cellar, movie theater, gym, sauna, steam room, elevator, full house generator, walk-in refrigerator and freezer, 4 fireplaces, 6-car garage and much more.

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480

101 Indian Rd, Palm Beach, FL 33480


Today's Top Real Estate News

Cities That Are Quickly Becoming Unaffordable


affordable-housing

By Bob Sullivan
Credit.com

America's housing market continued its staggering post-recession rise in 2016, as many regions surpassed their pre-recession-bubble highs. With interest rates finally rising, might some of those places be primed for a fall…or at least a pause?

The list of U.S. areas that could be hurt most by rising mortgage costs is not your typical list of overheated housing markets, as some fast-growing, but still modestly-priced Midwestern towns could feel the pain first.

Rising home values are always a good news/bad news story — good news for homeowners and sellers, bad news for would-be buyers. In almost every region of the country, 2016 turned out to be a very good year for owners and sellers. According to the S&P CoreLogic Case-Shiller national index, home values gained 5.6% nationwide annually as of October 2016. In some places, values soared even quicker: Seattle grew 10.7%, Portland 10.3%, and Denver 8.3%, according to the Case-Shiller report.

The good times for sellers seem set to end, however. After a seemingly endless set of warnings, the Federal Reserve finally raised interest rates in December, triggering increases in mortgage rates. More critically, Fed governors signaled that there could be three more increases in 2017, meaning mortgage interest rates will probably be about a full percentage point higher next year than they were in most of 2016. That, in turn, means higher monthly payments for borrowers, making it harder for some would-be buyers to take the plunge. In other words, higher rates could cool the housing market, says Daren Blomquist, senior vice president at Attom Data Solutions, a housing market data firm.

"I see rising interest rates as a cold shower for many overheated housing markets in 2017," he said via email. "This is probably a good thing overall, but it could come as a bit of a shock for folks who are expecting those markets to continue performing at the same level they have over the past few years." 

Changes in demand dictated by borrowing costs is just one side of the equation that might hurt sellers next year. After all, there always seems to be someone willing to overpay for a New York City apartment or a home anywhere near Silicon Valley. (You can use this tool to determine how much house you can afford.) That's due in part to plentiful high-paying jobs in those regions. But many smaller markets have enjoyed a fast run-up in prices, too, and those are probably at greater risk of an interest-rate induced slowdown because of another variable in that equation: slower wage growth. 

To calculate this risk, Attom produced a spreadsheet for Credit.com ranking counties by the Attom Home Affordability Index – computed via a formula that takes local wages, home values, property taxes, and historical affordability into account. The list was then ranked by the counties that became less affordable at the quickest rate over the past year. These are metros that could potentially be the most sensitive to changes in mortgage rates that would send some would-be home shoppers back to their rentals. They include:     
  1. St. Louis, Missouri-Ilinois (St. Louis County)
  2. Rockford, Illinois (Winnebago County)
  3. Crestview-Fort Walton Beach-Destin, Florida (Okaloosa County)
  4. Dallas-Fort Worth-Arlington, Texas (Ellis County)
  5. Richmond, Virginia (Richmond City County)
  6. Palm Bay-Melbourne-Titusville, Florida (Brevard County)
  7. Tampa-St. Petersburg-Clearwater, Florida (Pasco County)
  8. Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin (Cook County)
  9. Greenley, Colorado (Weld County)
  10. Warner Robins, Georgia (Houston County)
  11. Nashville-Davidson-Murfreesboro-Franklin, Tennessee (Davidson County)
  12. Denver-Aurora-Lakewood, Colorado (Denver County)
  13. Toledo, Ohio (Lucas County)
  14. Austin-Round Rock, Texas (Hays County)
  15. Amarillo, Texas (Potter County)
  16. Columbus, Georgia-Alabama (Muscogee County)
  17. Jacksonville, Florida (Duval County)
  18. Deltona-Daytona Beach-Ormond Beach, Florida (Volusia County)
  19. Charlotte-Concord-Gastoni, North Carolina-South Carolina (Iredell County)
  20. Denver-Aurora-Lakewood, Colorado (Arapahoe County)
It's probably no surprise that five of the top 20 locales are in Florida. However, if you expect New York, Seattle, and San Francisco on the list of rapidly-growing-unaffordable locales, think again; in their place are Midwestern areas like St. Louis, Missouri; Rockford, Illinois, and Toledo, Ohio.

In fact, St. Louis County (which includes the city of St. Louis) topped the list. There, Attom says, the median home sale price rose 19% last year, to $186,000, but wages were actually down a little more than 2%. That means the region's affordability had sunk 12% on the Attom index. Just three years ago, median home sales prices were just $99,900 in St. Louis – meaning median home prices are up 86% during the three-year span. That's a recipe for a pullback.

The story is similar in Winnebago County, Illinois, about halfway between Chicago and Madison, Wisconsin. Home prices are up 18% there, but wages are down 1.9%. That means the region's affordability is also down 12% on the Attom scale.

Also of note on the list of 20 cities with the fastest rate of declining affordability: Greeley and Lakewood, Colorado; Austin, Amarillo, and Dallas, Texas; Richmond, Virginia; and two of the south's hottest cities, Nashville, Tennessee and Charlotte, North Carolina.

Of course, the phenomenon of housing prices outpacing wage growth is not limited to these areas. Attom says home price growth outpaced wage growth in 81% of counties nationwide last year – in 363 of 447 counties studies . That's up from 57% of counties a year ago. 

"Rapid home price appreciation and tepid wage growth have combined to erode home affordability during this housing recovery, and the recent uptick in mortgage rates only accelerated that trend in the fourth quarter," Blomquist said in the report. "The prospect of further interest rate hikes in 2017 will likely cause further deterioration of home affordability next year. Absent a strong resurgence in wage growth, that will put downward pressure on home price appreciation in many local markets."

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.  
    
#1     9528 Dalesgrove Drive, Beverly Hills, CA 90210 with 4 bedrooms, 6 baths, 
and 4,650 sq.ft. is listed for sale at $4,995,000.

9528 Dalegrove Dr, Beverly Hills, CA 90210

Aspen charm above Beverly Hills, 240-degree mountain/canyon views. Fully renovated, Melinda Ritz interiors. Wide archways, hi ceilings, exposed beams, dark-wood floors. Living room has wet bar, 1,100-bottle wine storage. Handsome library. Kitchen has full-ceiling skylight, dining area. One office/bedroom downstairs. Upstairs: master w/ fireplace, balcony, spa-style bath; sitting room/study; 2 more en-suite bedrooms. Lush landscaping, waterfalls, pool/Jacuzzi, outdoor kitchen, fireplace and so much more.

9528 Dalegrove Dr, Beverly Hills, CA 90210

9528 Dalegrove Dr, Beverly Hills, CA 90210

9528 Dalegrove Dr, Beverly Hills, CA 90210

9528 Dalegrove Dr, Beverly Hills, CA 90210

9528 Dalegrove Dr, Beverly Hills, CA 90210

9528 Dalegrove Dr, Beverly Hills, CA 90210

9528 Dalegrove Dr, Beverly Hills, CA 90210

9528 Dalegrove Dr, Beverly Hills, CA 90210


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
.
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     5290 East Exeter Boulevard, Phoenix, AZ 85018 with 10 bedrooms, 13 baths, 
and 18,900 sq.ft. is listed for sale at $16,850,000.


Taliesin trained and renowned architect, George Christensen is responsible for the design of this timeless home. On 5 acres, this estate is comprised of 4 separate structures including the 12,000 sf main house, a 3,500 sf guest house, a 1,900 sf office and a 1,500 sf gym and caretaker cottage. The main house has 6 bedroom suites 7.5 baths. Finishes like hand applied plaster walls, wide-plank white oak wood flooring, reclaimed beams, Hopes steel windows and doors, and multiple fireplaces set the stage for comfortable elegance and easy living. The open kitchen includes La Cornue and Viking appliances; creamy marble countertops, and the finest custom cabinetry. A formal living room and dining room create perfect settings for 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 haTve 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     2335 Juan, San Diego-Mission Hills, CA 92103 with 6 bedrooms, 6 baths, and 5,735 sq.ft. is listed for sale at $3,465.000


Gated Spanish Eclectic estate is sited on over an acre of hilltop grounds with panoramic bay and city views. Likely designed by Richard Requa in 1930, residence retains original stenciled beams, classic archways, entry tile and wrought iron. First floor features spacious living areas, including well-appointed kitchen with adjacent breakfast area. Upstairs is complete with four bedrooms plus expansive master suite. Guest quarters over two-car garage. Mills Act affords significantly reduced property taxes.









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

Image result for San Francisco skyline pictures

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      725 Dunan Street, San Francisco-Noe Valley, CA 94131 with 4 bedrooms, 
4 baths, and 4,000 est. sq.ft. is listed for sale at $3,899,000.

725 Duncan St, San Francisco, CA 94131

Designed by the award winning San Francisco firm Zack | de Vito Architecture, this spectacular Noe Valley home offers stunning Downtown, Bay, and Bridge views, paired with dramatic modern architecture and design. Spanning three levels and showcasing beautiful scale and volume, this amazing home features 4 bedrooms, 4.5 bathrooms, an incredible main level great room perfect for entertaining, and four gorgeous outdoor living spaces. Wonderfully developed and beautifully finished, 725 Duncan offers the perfect combination of modern design, stunning views, and the urban neighborhood lifestyle.

725 Duncan St, San Francisco, CA 94131

725 Duncan St, San Francisco, CA 94131

725 Duncan St, San Francisco, CA 94131

725 Duncan St, San Francisco, CA 94131

725 Duncan St, San Francisco, CA 94131

725 Duncan St, San Francisco, CA 94131

725 Duncan St, San Francisco, CA 94131

725 Duncan St, San Francisco, CA 94131

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     719 96th Avenue SE, Bellevue, WA 98004 with 5 bedrooms, 7 baths, and 
14,140 sq.ft. is listed for sale at $12,980,000.

719 96th Ave SE, Bellevue, WA

This triumphant estate offers Bellevue's finest in-city oasis. Luxurious, impeccable & singularly distinctive. Two and a half private, idyllic and lush acres nestle a truly distinctive, sweeping view home. Over 14,000 square feet of unrivaled amenities and livability create a timeless & traditional masterpiece. Whether it is sunlight glowing through each beveled pane of glass or the elegant sweep of the floating staircase, every aspect of this custom home is devoted to spectacular living.

719 96th Ave SE, Bellevue, WA

719 96th Ave SE, Bellevue, WA

719 96th Ave SE, Bellevue, WA

719 96th Ave SE, Bellevue, WA

719 96th Ave SE, Bellevue, WA

719 96th Ave SE, Bellevue, WA

719 96th Ave SE, Bellevue, WA






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