Friday, February 24, 2017


Today's Top Mansions and Best 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.

World's Top Mansions

Ira Rennert's Mansion

Ira Rennert’s Mansion in Sagaponack, New York has 21 bedrooms, 18 bathrooms 
and 43,031 sq ft. 

This massive waterfront compound was built on 63 acres. In addition to the main home, there is an indoor theater, two bowling alleys, two tennis courts, two squash courts, game rooms, and a basketball court.

Today's Top Mansion Listed For Sale

#1     5004 N Bay Road, Miami Beach, Florida 33140, with 7 bedrooms, 10 baths, and 17,055 sq.ft. is listed for sale at $35,900,000.

Bakara "SESTO SENSO" is a one-of-a-kind, Ultra Luxury "resort-style" home located on prestigious upper North Bay Road. World Class interiors, cutting edge Architecture, and unparalleled quality throughout its living space totaling over 17,000 sf. Rooftop swimming pool, 35 feet above ground. Enjoy wide open-bay views and year round direct sunsets.










Today's Top Real Estate News
Inventories Driving Price Gains Despite Rates
By Jann Swanson
Mortgage News Daily

Home prices, as measured by the Federal Housing Finance Agency's (FHFA's) Housing Price Index (HPI), rose even faster on an annual basis in December than they had earlier in the fall. The year-over-year gain was 6.2 percent, up from 6.1 percent in the 12 months ended in November, and 6.0 percent in October.

FHFA's HPI report, which this month also in included fourth quarter data, is based on purchase prices of homes with mortgages backed by or sold to one of the two GSEs Fannie Mae and Freddie Mac.

On a quarterly basis, the HPI was up 1.5 percent compared to the third quarter.  The monthly change from November to December was 0.4 percent, down from a 0.5 percent gain from October to November.   

"Although interest rates rose sharply during the fourth quarter, our data show no signs of a home price slowdown," said FHFA Deputy Chief Economist Andrew Leventis. "Although it will certainly take more time for the full effects of the elevated interest rates to be felt, there is no evidence of a normalization in the unusually low inventories of homes available for sale, which has been the primary force behind the extraordinary price gains."



Home prices increased in 46 states and the District of Columbia from the fourth quarter of 2015 to the same period in 2016.  The largest gains were in Oregon at 11.0 percent; Colorado, 10.6 percent; Florida, 10.4 percent; Washington 10.2 percent; and Nevada 8.9 percent.

All nine census divisions had positive price changes over the year with the strongest increase in the Mountain division at 8.0 percent.  That region also posted the largest quarterly change at 2.1 percent. The largest monthly change was in the East North Central division, up 0.9 percent from November.



House price appreciation was weakest in the Middle Atlantic division, where prices rose 3.0 percent for the 12-month period, 0.9 percent quarter-over-quarter, but posted a 1.1 percent loss from November to December.


Today's Best LA Luxury Estate Listed For Sal



The median home value in Los Angeles County is $552,600. Los Angeles County home values have gone up 7.1% over the past year, Zillow predicts they will rise 1.1% within the next year.

The median home value in Brentwood, 90049 is $2,534,200. Brentwood home values have gone up 9.8% over the past year.  Zillow predicts they will rise 1.8% 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 $3,121,700.  Beverly Hills home values have gone up 4.2% over the past year.  Zillow predicts they will rise 1.1% with the next year.

The median home value in Bel Air is $3,299,900. Bel  Air home values have gone up 4.7% over the past year.  Zillow predicts they will rise 0.5% within the next year.  

#1    1106 N Hillcrest Road, Beverly Hills, CA 90210 with 4 bedrooms, 4 baths, and 4,009 sq.ft. is listed for sale at $7,995,000.

The Beverly Hills and California lifestyles come together in this newly completed first signature 1960s home re-imagined through the eyes of world-renowned architect Miguel Angel Aragones. Situated on a private perch with city and ocean views, the home is the perfect union of modern architecture with the natural setting creating the absolute finest indoor-outdoor living experience. From the moment of entrance, a spacious open floor plan, conversation living room, open dining area and kitchen all flow together for the ideal entertaining showplace. The 4 bedroom 4 bathroom home features the finest materials and pristine craftsmanship while boasting every cutting-edge technological amenity. Highlights of the home include a stunning master suite with a private shower garden, a lounge/media room, state-of-the-art kitchen and a kidney shaped pool. Quiet perfection, sophistication and elegance for a true quintessential Trousdale experience.








Today's Best 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 $416,900. Scottsdale home values have gone up 3.5% over the past year. Zillow predicts they will rise 1.5% withiin the next year.

The median home value in Carefree is $758,400. Carefree home values have gone up 5.6% over the past year.  Zillow predicts they will rise 2.6% within the next year.

The median home value in Paradise Valley is $1,611,200. Paradise Valley home values have gone up 2.8% over the past year. Zillow predicts they will 1.6% with the next year.  

#1      7120 N 46th Street, Paradise Valley, AZ 85253 with 5 bedrooms, 6 baths, and 8,431 sq.ft. is listed for sale at $4,200,000.

Paradise found in this Mexican Contemporary located on 2 Privately Gated Acres in a secluded P.V. neighborhood. The slightly elevated estate offers dramatic views of Camelback Mt. This home was completely rebuilt in 2004 by Kitchell and features: 4 bedrooms/5.5 baths plus guest casita, a chef's kitchen that includes a Viking gas range, refrigerator drawers, butler's pantry, and opens to the family room; a large master suite with an office, 2 bathrooms, exercise room, Zen garden, and large his/her closets. Additional amenities include: a 5 car A/C garage with an elevator, wine cellar, sport court, putting green, a negative-edge pool/spa, security camera system, and walls of glass looking to Camelback Mountain.









Today's Best San Diego Luxury Estate Listed For Sale


The median home value in San Diego County is $530,900. 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 6.2% over the past year.  Zillow predicts they will rise 1.5% within the next year.

The median home value in Solana Beach 92075 is $1,265,000. Solana Beach 92075 home values have gone up 4.8% over the past year.  Zillow predicts they will rise 1.6% within the next year.

The median home value in Del Mar 92014 is $1,687,600 Del Mar home values have gone up 10.1% over the past year.  Zillow predicts they will rise 2.9% with then next year.

The median home value in Rancho Santa Fe is $2,601,300. Rancho Santa Fe home values have declined -3.7% over the past year and Zillow predicts they will fall -1.6% within the next year.  


#1      2810 Hidden Valley Road, La Jolla, CA 92037 with 4 bedrooms, 6 baths, and
3,900 sq.ft. is listed for sale at $4,850,000.

Lot size 1.22 acre. Deck Area 1600 sqft. Custom fully permitted remodel; almost built from the ground up! Large private gated entry estate located in a private enclave of custom Estates! Gorgeous panoramic ocean and mountain views, a half court custom basketball court, private 5 hole custom golf course and more! Detached guest suite w/private entrance to kitchen, living room, dining room, full custom shower, large 1 bedroom and private patio area-perfect for guests or nanny's. Private driveway for over 18 cars.










Today's Best San Francisco Luxury Estate Listed For Sale


Image result for San Francisco skyline pictures

The median home value in San Francisco is $1,148,700. San Francisco home values have gone up 1.0% over the past year.  Zillow predicts they will rise 0.4% within the next year.

The median home value in Sausalito is $1,268,200. Sausalito home values have gone up 4.2% over the past year. Zillow predicts they will rise 0.4% within the next year. 

The median home value in Tiburon is $2,499,000. Tiburon home values have gone up 2.1% over the past year.   Zillow predicts they will rise 0.5% within the next year. 

The median home value in Saratoga is $2,388,3200. Saratoga home values have gone up 1.0% over the past year.  Zillow predicts they will fall -0.2% within the next year.       

#1     27466 Sunrise Farm Road, Los Altos Hills, CA 94022 with 6 bedrooms, 7 baths, and 6,922 sq.ft. is listed for sale at $8,750,000.

An irreplaceable, contemporary property, Sunrise Farm Estate is perfectly set w/ views of Western Hills and expansive views of the Bay. This contemporary property provides a modern open floor plan as every room enjoys natural light along with an indoor/outdoor luxury lifestyle. The grand entrance opens to expansive open spaces. Inside are beautiful stone & hardwood floors with radiant heat. Chef's kitchen boasts solid hardwood cabinetry, honed Italian stone counters & professional stainless appliances. High ceilings extend throughout w/ tall windows that extend the views. 6 bedrooms including expansive master suite + guest suite/au pair suite with private sitting room. Theatre room + craft room/wine cellar. Very private & fenced yard is perfect to entertain & enjoy views to San Francisco Bay and Silicon Valley. Stunning park-like grounds include outdoor fireplace & kitchen, expansive flat areas, infinity edge pool and spa. Cul-de-sac location. Close to Stanford, Palo Alto Schools.

















Today's Best Seattle Luxury Estate Listed For Sale

Image result for Seattle

The median home value in Kirkland is $592,100.  Kirkland home values have gone up 11.5% over the past year.  Zillow predicts they will rise 3.2% within the next year.

The median home value in Seattle is $604,300. Seattle home values have gone up 8.9% over the past year. Zillow predicts they will rise 2.8% within the next year.

The median home value in Bellevue is $752,800. Bellevue home values have gone up 12.7% over the past year. Zillow predicts they will rise 3.4% within the next year. 

The median home value in Clyde Hill is $2,098,300. Clyde Hill home values have gone up 3.4% over the past year. Zillow predicts they will rise 1.4% within the next year 

The median home value in Medina is $2,311,200. Medina home values have gone up 
8.0% over the past year and Zillow predicts they will rise 2.2% within the next year. 

#1     4632 86th Street SE, Mercer Island, CA 98040 with 5 bedrooms, 5 baths, 
and 4,500 sq.ft. is listed for sale at $2,398,000.

Immerse yourself in the pleasure of living in this classic 2-story traditional home w western exposure. The 5 bedroom home built by Matchpoint is replete in its floorplan, detail and craftsmanship. True center hall directs you to formal living rm & dining rm and into the inviting family rm that opens to ideal chef's kitchen overlooking fenced in level yard with oversized deck. Main flr guest bdrm + den + convenient mud rm entry. Huge master and bath + large secret play room + upper bonus + + + Come and see.








Today's Mortgage Rates                                                                           52 Week 

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.18%4.20%-0.023.34%4.38%
15 Yr FRM3.38%3.40%-0.022.69%3.58%
FHA 30 Year Fixed3.75%3.75%--3.15%4.10%
Jumbo 30 Year Fixed4.30%4.32%-0.023.42%4.40%
5/1 Yr ARM2.99%3.01%-0.022.80%3.25%
Updated: 2/23/17 3:00 PM
Mortgage Rates Match 2-Week Lows
Feb 23 2017, 3:03PM

Mortgage rates moved lower for the 4th time in 5 days today, bringing them to their lowest levels since February 9th.  The caveat to any discussion of rate "movement," however, is that the changes have been so small that they can really only be measured in terms of closing costs.  

In other words, most borrowers will have seen the same NOTE rate (aka "contract rate," which is simply the interest rate applied to your loan balance).  Contract rates are typically offered in eighth point increments (.125, .25, .375, etc).  "Effective rates," on the other hand, take the upfront costs into consideration.  These costs allow for more of a fine-tuning adjustment when compared to an eighth of a percentage point in contract rate.  

For instance, on a $200k loan, it would take $1200-1600 in additional closing costs to move down an eighth of a point in rate--all things being equal.  A lot of times, when we talk about rates improving, it simply means that the $1200-1600 of upfront cost would be lower.  Let's say it would cost you $1200 yesterday to drop your rate quote by an eight.  If it only costs $900 today, your "effective rate" has moved down.

Contract rates continue running in the 4.125%-4.25% range on top tier scenarios (30yr fixed, conventional).  With today's gains, a few more lenders have migrated to 4.125%.  Borrowers still being quoted the same rate as yesterday should be seeing slightly lower closing costs for reasons explained above.

Loan Originator Perspective


Tough call today.  We’re at the bottom of the two week range and very close to the bottom of the three month range.  If you believe in the range then it’s time to lock because yields can’t go lower than the range right?  Wrong. It’s only the range until it breaks.  Will this one break?  No clue.  I suspect it needs to break soon due to the consolidation pattern we’re in.  If you have the ability to sustain a little loss then float on.  If the ranges breaks to the low side then you will be handsomely rewarded.  I can see why many would be tempted to float.  -Jason B. Anker, Vice President- Loan Officer at Salem Five

Both treasuries and MBS posted solid gains today, and neared levels last seen the first week of February.  That rally was brief, and it's too early to pronounce current movement a rally yet, but gains, for the lack of a better word, are good.  Borrowers who floated past yesterday should see pricing improvements today.  It will take concerted market motivation for rates to drop from these levels, the question is whether that motivation exists yet.  I wouldn't bet on it. -Ted Rood, Senior Originator

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). 
Thanks for reading today's Blog.  Looking for more information?  Have a comment?  Please call, text or email me at 619-944-8749 or furtree@msn.com 

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