Saturday, February 25, 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.
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Today's Best Mansion Listed For Sale

#1      605 Ocean Blvd., Golden Beach, Florida 33160 with 7 Bedrooms,12 baths, and 14,075 sq.ft. is listed for sale at $27,500,000.

Featured on the cover of Architectural Digest! Indulge yourself in the opulent beachfront lifestyle you've always dreamed of. Enjoy one-of-a-kind oceanfront living in this jaw-dropping custom masterpiece exuding exceptional quality showcased throughout the entire home. Designed with the finest finishes, this breathtaking estate feat. 100 FT of oceanfront on lushly a landscaped 27,500 SF lot. This marvelous 14,075 SF property boasts 7 BR, 8+4 BA, elevator, gourmet chef's kitchen, and an oceanfront infinity pool. Live in exclusive Golden Beach in the ultimate beachfront paradise!















Today's Top Real Estate News
New Home Sales Up Less Than Expected; Prices up 7.5% Annually
By Jann Swanson
Mortgage News Daily

Sales of newly constructed homes, had a strong start in 2016 but flattened out toward the end of the year and ended with a dismal December.  Now 2017 has also started on a positive note.  The Census Bureau and the Department of Housing and Urban Development reported sales were up in January by 3.7 percent from the previous month to a seasonally adjusted annual rate of 555,000 units.  Sales in December, originally estimated at 536,000 unites were revised down to 535,000.  The January sales were 5.5 percent higher than sales a year earlier of 526,000. On a non-seasonally adjusted basis there were 41,000 homes sold during the month compared to 38,000 in December. 



Analysts had however expected a much stronger recovery from the 10.4 percent nosedive sales took in December.  Econoday reported those they polled were looking for sales in a range between 538,000 and 600,000 units with a consensus of 576,000, a 7.5 percent gain.

At the end of January there were an estimated 261,000 homes available for sale (a non-adjusted figure.)  This is a larger inventory than existed during any month in 2016 and represents a 6.4-month supply at the current rate of sales.

Sales in the Northeast region were up 15.8 percent from December and were 22.2 percent higher than a year earlier.  The Midwest saw sales rise by 14.8 percent month-over-month and 4.5 percent compared to January 2016.  Sales in the South were up 4.3 percent from December, but fell below the year-ago pace by 1.0 percent.  New home sales in the west were down 4.4 percent for the month but remained 16.2 percent higher on an annual basis.

The Median price of a new home sold during the month was $312,900 compared to 291,100 the previous January, an impressive 7.5 percent increase.  The average sale price declined from $365,600 to $360,900 over the 12-month period.

Homes sold during January had a median time on the market of 3.2 months, down from 3.3 months both in December and in January 2016
Today's Top 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     1116 Liinda Flora Drive, Bel Air, CA 90049 with 5 bedrooms, 6 baths, 
and 5,290 sq.ft. is listed for sale at $7,900,000.

Sited on a serene, half-acre knoll in Bel Air and designed by renowned architect Walter Scott Perry, this reimagined 5,290 sq. ft. residence spares no expense in providing an exceptional and functional living experience. Upon entering through the 21-foot-high foyer, one's senses are immediately captivated by the home's airy character, clean geometric forms, and balanced visual composition-a testament to the celebrated Bauhaus style of design. Convivial living areas both inside and out emphasize the home's inherent flexibility while fleetwood windows and doors seamlessly merge the interior environment with that of the exterior, inviting enviable views of the rich canyonside, city lights and ocean, and landmark Getty Center from nearly every room. Enjoying a retreat-like locale all its own, complete with an expansive manicured lawn and baja shelf pool/spa, this impressive residence is only moments away from Sunset Blvd. as well as nearby Westwood and Beverly Hills.














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 $416,900. 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     4735 N Launfal Avenue, Phoenix, AZ 85018 with 5 bedrooms, 7 baths, 
and 6,294 sq.ft. is listed for sale at $2,095,000.

Style and elegance are ever apparent from the moment you arrive at this magnificent home. It has a truly unique flair, and room after room offers gracious design elements that will immediately leave a lasting impression. Gorgeous flooring, hand carved canterra stone, intricate iron details, dramatic lighting and huge picture windows just begin to describe the lovely touches within, and it will be tough to pick your favorite room from the gorgeous kitchen, lovely great room, exquisite dining room, impressive master retreat or full guest house. There's even an exercise room and sauna. The grounds are very special with multiple entertaining patios and balconies, a pool and spa, custom fountains, a big grassy playground, and outstanding mountain views. This grand residence is quite alluring!











Today's Top 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     464 Prospect, #501, La Jolla, CA 92037 with 3 bedrooms, 3 baths, 
and 4,986 sq.ft. is listed for sale at $4,400,000.

Gracious living home in the heart of La Jolla with the utmost in services, security and privacy. This 4,986 sq.ft. corner residence offers high ceilings, crown moldings, stone flooring, spacious rooms, a cook's kitchen, and a 40' terrace with ocean view. 464 Prospect is the premier address for full service luxury living. Originally built in the 1920's and superbly re-built in 2003, this historic landmark is Mills Act approved.








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 $1,148,700. 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     16 Spruce Street, San Francisco-Presidio Heights, CA 94118 with 5 bedrooms, 
5 baths, and 3,500 sq.ft. is listed for sale at $10,500,000.

Presidio Heights Modern Masterpiece! Rarely available location along the iconic, historic and prestigious Presidio Wall, 16 Spruce Street is a Mid-Century modern residence that has been updated, expanded and enhanced with the most sophisticated amenities of the twenty-first century. The classic California architecture focuses on the surrounding views through walls of glass that blur the lines between inside and out. The window locations have been strategically chosen to bring the most natural light and best views into every room. This contemporary home is sleek, modern and handsome. It has been enhanced with the most up-to-date details to keep it classic, current and timeless.



















Today's Top 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     10410 NE 26th Street, Bellevue, WA 98004 with 4 bedrooms, 5 baths, and 4,150 sq.ft. is listed for sale at $2,489,000.

Modern design meets elegant style and comfort in this beautiful two-story home. Outstanding features include imported texture tiles, extensive hardwood flooring, beautiful island kitchen with high-end Thermador appliances & Brittanica Quartz slab countertop, high ceilings, main level den (5th bdrm) and bath,French doors,wine room,luxurious master suite with sitting/reading area & see through fireplace,loft and 3 additional ensuites for maximum comfort/privacy.Sunny flat yard with covered patio.

10410 NE 26th St, Bellevue, WA

10410 NE 26th St, Bellevue, WA

10410 NE 26th St, Bellevue, WA

10410 NE 26th St, Bellevue, WA

10410 NE 26th St, Bellevue, WA

10410 NE 26th St, Bellevue, WA

10410 NE 26th St, Bellevue, WA

10410 NE 26th St, Bellevue, WA


Today's Mortgage Rates                                                                           52 Week 

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.12%4.18%-0.063.34%4.38%
15 Yr FRM3.33%3.38%-0.052.69%3.58%
FHA 30 Year Fixed3.75%3.75%--3.15%4.10%
Jumbo 30 Year Fixed4.25%4.30%-0.053.42%4.40%
5/1 Yr ARM3.01%2.99%+0.022.80%3.25%
Updated: 2/24/17 1:25 PM

Mortgage Rates in Line With 2017 Lows
Feb 24 2017, 4:26PM

Mortgage rates moved lower for 3rd straight day (and the 5th time in the past 6 days).  That makes this the best winning streak of the year and it brings rates to the lowest levels of the year (matching February 8th and a few days in early January).  From here, you'd have to go back to mid-November 2016 to see appreciably lower rates.

All that having been said, the range over that time has been fairly narrow--4.125%-4.375% for top tier conventional 30yr fixed rate quotes.  Naturally, today's average lender is at 4.125% although some of the more aggressive lenders are indeed down to 4.0%.  No matter the rate quoted, the important point is that today's rates are noticeably lower than yesterday's.  Even if the NOTE rate is the same, the upfront costs should be lower (thus making for a lower EFFECTIVE rate).

In terms of lock/float strategy, the longer these winning streaks go, the more likely they are to run into resistance.  Granted, the range will break at some point, and it's an acceptable strategy to float and hope this is when we see a break.  But if you're playing the range, it's a good time to lock.

Loan Originator Perspective


Bond markets continued testing the floors of our recent range today, and mortgage pricing improved slightly.  The end of a month typically generates some demand for bonds, which may explain today's action.  10 year treasury yields are nearing 2.30%, the best levels since the end of November.  I'm almost believing this rally has legs, floating may be a viable option for those with some risk tolerance.  Closing within 15 days?  I'd grab the money and lock to avoid any losses next week. -Ted Rood, Senior Originator

Mortgage backed securities are managing quite the rally over the last couple days.  We are currently at 1 month highs.  Lenders have passed along much of the gains but I still think there is cushion there.   If you are happy with today’s pricing, nothing wrong with locking in these recent gains, but I think floating over the weekend might be worth the risk.  Plus, I am never a fan of locking on Fridays. -Victor Burek, Churchill Mortgage

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