Saturday, February 18, 2017


Today's Best Mansion and Top  Luxury Estates in Los Angeles, Phoenix, 
San Diego, San Francisco and Seattle Listed For Sale.

The definition of the word "mansion" varies but in U.S. real estate terms, it generally defined as single family residence of more than 8,000 square feet. Mega Mansion range from 20,000 sq,ft. and Super Mansions over 50,000 sq.ft. Until the mid 20th century most "mansions" would have a hall, two or three salons or drawing rooms, library, billiards room, ball room, dining room, breakfast room, morning room, study and numerous bedrooms but only 2-3 bathrooms.

Image result for james h. clark estate 1500 south ocean boulevard photos 
The mega-mansion of Netscape Communications founder James Clark at 1000 S. Ocean Blvd, Palm Beach, Florida with 60,350 sq.ft., 19 bathrooms and 6 bedrooms.
In addition to the 60,350-square-foot house, Clark built a a two-bedroom beach house with an infinity swimming pool on the ocean side of the property, which is separated by Ocean Boulevard – but reachable via the tunnel.

Today's Best Mansion Listed For Sale

#1      6440 N Bay Road,  Miami Beach, Florida with 7 bedrooms, 11 baths, 
and 15,000 sq.ft. is listed for sale at $29,000,000.

Newly constructed 15 000 square foot home located on Miami Beach's prestigious North Bay Road. With dramatic wide bay views gracious rooms and a modern layout this 7 bedroom 9 bathroom home establishes a new standard for sophisticated design and elegant living. Incorporating organic and modern materials the house features sliding glass walls throughout which allow for a unique Miami style of indoor/outdoor living.

6440 N Bay Rd, Miami Beach, FL 33141

6440 N Bay Rd, Miami Beach, FL 33141

6440 N Bay Rd, Miami Beach, FL 33141

6440 N Bay Rd, Miami Beach, FL 33141

6440 N Bay Rd, Miami Beach, FL 33141

6440 N Bay Rd, Miami Beach, FL 33141

6440 N Bay Rd, Miami Beach, FL 33141

6440 N Bay Rd, Miami Beach, FL 33141

6440 N Bay Rd, Miami Beach, FL 33141

Today's Top Real Estate News

New Single-Family Home Size Trends



After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the fourth quarter of 2016. This ongoing change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. As the entry-level market expands, including growth for townhouses, typical new home size is expected to decline.

According to fourth quarter 2016 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area was slightly higher at 2,453 square feet. Average (mean) square footage for new single-family homes increased to 2,661 square feet.



On a less volatile one-year moving average, the recent trend of declines in new home size can be see on the graph above, although current readings remain elevated. Since cycle lows (and on a one-year moving average basis), the average size of new single-family homes is 11% higher at 2,635 square feet, while the median size is 15% higher at 2,424 square feet.

The post-recession increase in single-family home size is consistent with the historical pattern coming out of recessions. Typical new home size falls prior to and during a recession as some home buyers tighten budgets, and then sizes rise as high-end homebuyers, who face fewer credit constraints, return to the housing market in relatively greater proportions. This pattern was exacerbated during the current business cycle due to market weakness among first-time homebuyers. But the recent small declines in size indicate that this part of the cycle has ended and size should trend lower as builders add more entry-level homes into inventory.

In contrast to single-family patterns, new multifamily apartment size is down compared to the pre-recession period. This is due to the weak for-sale multifamily market and strength for rental demand

Today's Top LA Luxury Estate Listed For Sal


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 home 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     1251 Vista Drive, Beverly Hills, CA 90210 with 6 bedrooms, 7 baths, 
and 7,601 sq.ft. is listed for sale at $15,000,000.   

Gated exquisite private Beverly Hills estate located on a 3/4 acre lot with incredible city views and room to expand. This magnificent six bed, seven bath home features the finest details and amenities for the quintessential indoor/outdoor lifestyle. Enter this one-of-a-kind residence thru a solid wood gate with eight foot walls. Beautiful manicured grounds that include generous grassy lawn, custom pool, patios, paddle tennis court, built-in BBQ, and security system. A grand foyer leads you to a gracious living room with oversized windows, high ceilings, clean lines, and custom finishes. The gorgeous kitchen features custom cabinetry, butcher block center island, stainless appliances, and a breakfast room that leads to the patio and back yard. The master bedroom has huge views, sitting area, walk-in closet, and a luxurious bath.



 

















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     5022 E Cottontail Run Road, Paradise Valley, AZ 85253 with 6 bedrooms, 
9 baths, and 14,000 sq.ft. is listed for sale at $6,995,000.

You really must walk this outstanding property in order to fully appreciate the scale of its beauty. With panoramic views as far as the eyes can see and unimaginable elegance and grandeur, this hilltop mansion offers stunning design elements, and finishes of the highest quality brought in from all over the world. The dramatic setting will take your breath away with room after room of exceptional character and unique architecture. This distinguished estate is so extraordinary and so rare that you'll envision the upscale lifestyle it offers from the moment you arrive. An exquisite guesthouse, magnificent negative edge pool, outdoor oasis, and one of the best lots in all of Arizona make this an address for the truly lucky!











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     7857 Eads, La Jolla, CA 92037 with 3 bedrooms, 3 baths, and 3,408 sq.ft. is listed for sale at $3,000,000.

The Jewel Box features timeless Spanish architecture w/modern day luxuries. This fabulous home in the heart of the Village is romantic and cozy. The beautiful outdoor spaces with a pool/spa/fireplace are great for entertaining. Located just a block to the ocean,& exquisitely remodeled to perfection. Watch the spectacular sunsets ans white water views. Additional room adjacent to pool is being used as a gym but could be your Cabana/office! Designated Hist. Landmark #449- Mills Act-property Taxes $6,500.










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      14777 Montalvo Road, Saratoga, CA 95070 with 6 bedrooms, 7 baths, 
and 5,161 sq.ft. is listed for sale at $5,888,000

Prestigious Villa Montalvo Neighborhood. The home boasts 4 bedrooms 4.5 bathrooms, also has a separate 2 beds/1bath plus family room in-law quarters. Features include: extensive millwork, herringbone patterned hardwood floors and premium landscaped lot. You will be embraced by this friendly and spacious community, walk to town, schools and Villa Montalvo!!!








    

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     725 14th Avenue E, Seattle-Madison Park, WA with 5 bedrooms, 8 baths, 
and 10,416 sq.ft. is listed for sale at $7,995,000.

Fine 1905 Georgian Revival view home meticulously renovated with technology in mind. Situated on a one-third acre with beautifully landscaped grounds; bluestone terraces. Exquisite millwork, high ceilings, grand scale entry, gorgeous formal living/dining rooms, cozy library, sunroom, granite kitchen and informal living and dining area, office, custom designed media/billiards room with artisan-built bar; 5+ bedrooms and 6+ baths, including outstanding master suite and separate-entry apartment.












Today's Mortgage Rates                                                                           52 Week 

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.18%4.20%-0.023.34%4.38%
15 Yr FRM3.38%3.41%-0.032.69%3.58%
FHA 30 Year Fixed3.75%3.75%--3.15%4.10%
Jumbo 30 Year Fixed4.30%4.33%-0.033.42%4.40%
5/1 Yr ARM3.00%3.03%-0.032.80%3.25%

Mortgage Rates Slightly Lower to End Week
Feb 17 2017, 3:13PM


Mortgage rates moved lower for a 2nd straight day.  This helps undo virtually all of the damage done by the first 3 days of the week.  In other words, today's rates are right in line with last Friday's after having been noticeably higher for the past 4 days.  There were no significant economic reports or market-moving headlines today as markets were instead focused on limiting their exposure to volatility over the upcoming 3-day weekend.  On that note, keep in mind that banks and most mortgage lenders will be closed on Monday for the Presidents Day holiday.

4.25% remains the most prevalent conventional 30yr fixed rate on top tier scenarios, although a handful of lenders moved back down to 4.125% yesterday and today.  Borrowers being quoted the same "note rate" as yesterday are seeing today's improvement in the form of slightly lower upfront costs (or a bigger upfront credit, depending on the scenario).

Loan Originator Perspective


Bonds retained yesterday's gains through mid day today, even adding to them slightly.  Our pricing improved by roughly 25 bps overnight, which is always welcome on the cusp of a 3 day weekend.  Keep in mind we're still range-bound, but now nearer rates' floor than ceiling.   Today looks like a great locking opportunity to me.  The odds of rates bouncing back up next week seem far higher than those of heading further downward. -Ted Rood, Senior Originator

I am rarely a fan of locking ahead of a 3 day weekend.   Bonds are testing the low end of range and with the 3 day weekend ahead, I feel lenders will be conservative on pricing.  I favor floating over the weekend to see if this rally can continue. -Victor Burek, Churchill Mortgage

Barring a late day sudden sell off it looks like floating is the way to go.  We’ve been basically sideways for three months now.  Playing the range trade with lock and float decisions has worked out very well for those paying attention.  I’d continue to do the same until something changes.  -Jason B. Anker, Vice President- Loan Officer at Salem Five

Today's Best-Execution Rates

  • 30YR FIXED - 4.125-4.25%
  • FHA/VA - 3.75-4.25%
  • 15 YEAR FIXED - 3.375-3.5%
  • 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 return to pre-election levels until well after Trump takes office.  Rates can move for other reasons, but it would take something big and unexpected for rates to get back to pre-election levels.
     
  • 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). 

Most importantly, have a great day!
Tom Furino

PS.     Check out all the featured Best Mansions and Top Luxury Estates in
Los Angeles, Phoenix, San Diego, San Francisco and Seattle Listed For Sale anytime at:.

www.todaysbestmansionsforsale.com
www.laluxuryrealestateupdates.com
www.phoenixluxuryrealestateupdates.com
www.seattlerealestateluxuryhomesupdates.com
www.sandiegorealestateflashreport.com
www.sfluxuryrealestateupdates.com