Monday, February 6, 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.

Today's Best Mansion Listed For Sale   

#1     343 Willoughby Way, Aspen, Colorado 81611 with 5 bedrooms, 7 baths, 
and 9613 sq.ft. is now reduced to $36,500,000.

343 Willoughby Way, Aspen, CO 81611

An unparalleled and exquisite contemporary home on Willoughby Way - Aspen's premier address! Perched above the road with direct views of Aspen Mountain, this property has one of the most envious locations on the street. The sweeping panorama from Independence Pass to Mt. Sopris provides light and scenery from every part of the home. The exterior and interiors exemplify the highest level of craftsmanship and design. The Spanish stone was precision cut and installed by the best of masons, while Epay wood was used for accents and all of the doors and walls were designed to float at their top and bottom. Boasting over 9,600 square feet of living area, this gem includes a stunning master suite, four generous en suite guest bedrooms, 6.5 baths, gourmet kitchen, office with fireplace, spa-like massage room with Hammam steam room, 2000 bottle wine storage, media room, exercise room, hot tub, and three car garage. In addition to state of the art lighting and electronics, the dining room opens onto an outdoor patio (with fireplace) via a disappearing glass wall to bring the outdoors in. The property is finished off with a sun-filled pool and spa area to enjoy the ultimate privacy or host the year's best party!

343 Willoughby Way, Aspen, CO 81611

343 Willoughby Way, Aspen, CO 81611

343 Willoughby Way, Aspen, CO 81611

343 Willoughby Way, Aspen, CO 81611

343 Willoughby Way, Aspen, CO 81611

343 Willoughby Way, Aspen, CO 81611

343 Willoughby Way, Aspen, CO 81611

343 Willoughby Way, Aspen, CO 81611


Today's Top Real Estate News   

Seattle Chugs Along As America’s Hottest Home Market Despite Slowing A Bit

By Mike Rosenberg 
Seattle Times

Even as local home-price gains slowed for the fourth straight month, the region still had faster growth than anywhere else in the country. Seattle’s home-price increases keep surging ahead of the rest of the nation even as the local housing market is showing a clear trend of slowing a bit.



Across Greater Seattle, the typical single-family house cost 10.4 percent more in November than a year ago, the biggest increase of any metro area in the country, according to the Case-Shiller home-price index released Tuesday.It’s the third straight month that the Seattle area led the nation as the hottest housing market after a nine-year stretch without being on top.

Fastest-rising home prices compared with a year ago
1. Seattle +10.4%
2. Portland +10.1%
3. Denver +8.7%
4. Tampa +8.1%
5. Dallas +8.1%

The winter is normally the slowest time of year for the local real-estate market. The growth in home values was actually the slowest it’s been in Seattle in nearly a year, continuing a downward trend since early fall. That runs counter to the national picture, where home prices are growing at their fastest clip in 2½ years

And compared to just a month ago, local home costs were nearly unchanged, matching what happened in the rest of the country.

Most of the slowdown in the Seattle area came in the luxury-home market, where home prices are now growing at a rate of 9.4 percent, compared with 12.4 percent for starter homes. That’s putting even more financial strain on renters struggling to save up enough for a down payment for their first house. Apartments dwellers are already seeing rents rise nearly as fast as anywhere in the country.

Portland was again second for year-on-year gains, at 10.1 percent; the two Pacific Northwest regions have occupied the top two spots on the list for a full year. All other cities were less than 9 percent.

The national increase was 5.6 percent, a little more than half the rate of growth in Seattle. Home prices hit record highs both nationally and locally. A new year-end report from the Northwest Multiple Listing Service provided some details behind the priciest year ever for local real estate.

In all, about 36,000 homes sold in King County in 2016, for a total of $21.1 billion.

The median single-family house sold for $635,000 in Seattle and $751,000 on the Eastside. Condos across the county sold for a typical price of $326,000, more than the average full house anywhere in Washington outside King, Snohomish and San Juan counties.

Perhaps the most startling number is a ratio used to measure supply and demand.  In a healthy market, where buyers and sellers have equal power, it would take four to six months for all the current homes on the market to sell. But in King County, there are so few homes available and so many buyers lined up that all the homes for sale are now forecast to  be gobbled up in just three weeks. That’s twice as fast as a year ago, and a record low.

The number of luxury sales is also surging, with a record number of homes selling for more than $1 million last year. The priciest sale of the year across the county was a $9.75 million house in Mercer Island, narrowly beating out a house in Seattle’s Laurelhurst neighborhood. The most expensive condo was an $8.8 million purchase for a penthouse in the Escala tower in downtown Seattle.

Snohomish and Pierce counties had the sharpest rise in home prices last year. The typical house last year cost $390,000 in Snohomish County and $275,000 in Pierce County.
As always, the local school district remains one of the most important factors for home prices. The Multiple Listing Service report ranks median home prices by school district in the Puget Sound area like this:

1. Mercer Island School District: median house sold for $1.32 million in 2016
2. Bellevue: $939,750
3. Issaquah: $775,555
4. Lake Washington: $770,000
5. Bainbridge Island: $740,000
6. Seattle Public Schools: $635,000
7. Northshore: $589,950
8. Snoqualmie Valley: $575,000
9. Vashon Island: $539,475
10. Riverview (East King County): $529,000

Looking for a deal? The cheapest housing markets in Western Washington were in Pacific and Grays Harbor counties, where the median house can be had for about $145,000. You’ll have to drive at least 100 miles from Seattle for that.

The cheapest house of the year in Western Washington sold for $6,622 in Cowlitz County. In King County, someone got a house for $35,000.

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 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     1350 Benedict Canyon Drive, Beverly Hills, CA 90210 with 6 bedrooms, 
9 baths and 10,875 sq.ft. is listed for sale at $13,500,000.

Rare opportunity to own the finest quality magnificent Mediterranean contemporary estate.This gated three story grand home is 10,800 square feet and minutes to Beverly Hills.Just completed,fully remodel, including top of the line finishes,materials and systems-no expense spared .Open floor plan with Imported imported Italian Travertine floors and custom moldings and cabinetry throughout. Gourmet kitchen with Sub Zero refrigerator, Miele appliances, Wolf range ,wine refrigerator.State of art custom, theater with surround sound leather reclining seating up to 14.European style spa, wet & dry sauna/yoga/gym. Large formal dining with butlers kitchen. Elevator with custom Mahogany paneling.Smart home features heat/air pool & sound controlled controlled by iPad Parking for 8 cars Exterior grounds include cascading waterfall to pool & spa.Large Cabana and outdoor kitchen, grassy play yard.

\











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     41445 N 95th Street Scottsdale, AZ 85262 with 4 bedrooms, 6 baths,
and 6,200 sq.ft. is listed for sale at $2,995,000.

Overlooking the 15th green of the Chiricahua golf course within Desert Mountain's premier Village of Saguaro Forest this exquisite home offers breathtaking golf course, lush Sonoran Desert and mountain views. The 100 year old reclaimed Oak plank floors, Venetian plaster walls, extensive use of marble, granite and flagstone, multiple ceiling details, wrought iron fixtures and doors are a few of the many high quality finishes within the home. Functional floor plan presents the master retreat with fitness room and office in one wing; the great room with large bar, chefs kitchen with eating area as well as formal dining and wine cellar in the center and two additional ensuite bedrooms in the opposite wing.

41445 N 95th St, Scottsdale, AZ 85262

41445 N 95th St, Scottsdale, AZ 85262

41445 N 95th St, Scottsdale, AZ 85262

41445 N 95th St, Scottsdale, AZ 85262

41445 N 95th St, Scottsdale, AZ 85262
41445 N 95th St, Scottsdale, AZ 85262

41445 N 95th St, Scottsdale, AZ 85262

41445 N 95th St, Scottsdale, AZ 85262

41445 N 95th St, Scottsdale, AZ 85262


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     7403 Hillside Drive, La Jolla, CA 92037 with 5 bedrooms, 8 baths, 
and 7,383 sq.ft. is listed for sale at $4,536,000.

Panoramic views of coastline, Dana Point, La Jolla Shores, UTC, city lights, & snow capped Big Bear on the horizon. 7838 Sq. Ft. of impeccably detailed ambiance. Understated & private. Gated entry, vaulted ceilings, French Limestone, hardwood flooring, 6 fireplaces, paneled elevator, office, 2 family rooms, gift wrapping room & thermopane glass throughout. 6 fountains & room for lap pool. Gated driveway w/attached 3 gar garage  










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     765 Market Street PH 2A, San Francisco-South of Market, CA 94103 with 
4 bedrooms, 5 baths, and 4,640 sq.ft. is listed for sale at $10,900,000.

This extraordinary Penthouse at the Four Seasons Hotel and Residences is San Francisco's combined highest & largest condo available for sale! Southeast to Northwest views span sunrise to sunset & include the Bay & Financial District. Poised for elevated living: Sensational Great Room with metropolitan & Bay views; Eat-in Kitchen w/ adjoining Family Room & fireplace enjoy Southwest views; Bedroom Wing with private entrance & Staff Suite with separate entrance; Sophisticated systems for lighting, shading, and AV/media. Paired with the Four Seasons' legendary 5-Star amenities, the rare availability of this unique residence presents a limited opportunity to own one of the city's largest, highest and most prestigious view Penthouses.  

765 Market St Ph 2 A, San Francisco, CA 94103

765 Market St Ph 2 A, San Francisco, CA 94103

765 Market St Ph 2 A, San Francisco, CA 94103

765 Market St Ph 2 A, San Francisco, CA 94103

765 Market St Ph 2 A, San Francisco, CA 94103

765 Market St Ph 2 A, San Francisco, CA 94103

765 Market St Ph 2 A, San Francisco, CA 94103

765 Market St Ph 2 A, San Francisco, CA 94103

  
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     107 Dorffel Drive E, Seattle-Madison Park, WA 98112 with 5 bedrooms, 6 baths, and 7,852 sq.ft. is listed for sale at $4,998,000.

Restored to its original 1906 splendor, this prominent Denny Blaine estate sits loftily on a shy half acre, providing coveted in-city privacy & stunning views of Lake WA, the Bellevue skyline & the snow-capped Cascades. Boasting features rarely found in period Seattle homes including an open kitchen/family room, state of the art amenities, two master suites and a home theater. A variety of generous indoor to outdoor entertaining spaces complete this enclave just minutes from downtown. 












Today's Mortgage Rates                                                                           52 Week

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.24%4.23%+0.013.34%4.38%
15 Yr FRM3.44%3.43%+0.012.69%3.58%
FHA 30 Year Fixed3.80%3.75%+0.053.15%4.10%
Jumbo 30 Year Fixed4.36%4.35%+0.013.41%4.40%
5/1 Yr ARM3.05%3.03%+0.022.80%3.25%
Updated: 2/3/17 4:59 PM

Mixed Day Leaves Rates Slightly Higher
Feb 3 2017, 5:28PM


Mortgage rates were noticeably lower this morning as bond markets responded favorably to the important jobs report.  While the headline job growth was stronger than expected (typically bad for rates), wages came in much lower than expected and were revised lower for the previous report as well.  That was enough for most lenders to offer lower rates with today's first set of rate sheets.  

Bond markets (which underlie rate movement) stayed strong throughout the morning.  Things changed in the afternoon when a member of the Fed (Williams) said the Fed may hike in March.  Perhaps even more damaging was Williams' mention of the Fed moving closer to ending its policy of reinvesting the interest it earns on its bond portfolio.  Those reinvestments are worth a lot in terms of low rates.  Bonds then lost everything they'd gained following the jobs data, ending the day roughly unchanged.

Lenders pulled back pricing in response to the market movement.  While 4.25% is still the most common top tier 30yr fixed rate, closing costs are slightly higher vs yesterday afternoon.  The change would be small though.  In fact, some lenders were in slightly better territory (but they were the exception).

Loan Originator Perspective

I continue to favor locking if within 30 days of closing.    Following weak earnings in today’s NFP report, bonds managed to move higher so I am seeing better rate sheets today.  I think it is wise to take advantage of the gains and lock in.  -Victor Burek, Churchill Mortgage
Weak wage growth in January's NFP report gave bonds a decent boost this AM, and my pricing improved from yesterday's.  Sadly, the gains evaporated by early PM amid some Fed inflation rhetoric, and it's very possible lenders will reprice worse as the day progresses.  Bottom line, we're still in the recent range, just bouncing within it.  Good time to lock for those floating, particularly if within 30 days of closing and if your lender's still on their AM pricing.  -Ted Rood, Senior Originator

Today's Best-Execution Rates
  • 30YR FIXED - 4.25%
  • FHA/VA - 3.75%
  • 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 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). 

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