Tuesday, March 28, 2017


Mansions: They’re lavish. They’re huge. They're grand and expensive.

Today's Best Mansion 

#1     2900 W Buttermilk Road, Aspen, CO 81611 with 11 bedrooms, 13 baths, and 
17,664 sq.ft. is listed for sale at $50,000,000



Never before offered legacy ranch! Located adjacent to West Buttermilk Ski Area on 61 private acres at the end of the road. The property includes a 15,664 square foot main home with 8 bedrooms, 7 full baths, and 3 half baths, as well as a 2,000 square foot caretaker's home with 3 bedrooms and 3 full baths, plus a 7,500 square foot barn. Additional features include an inviting great room, chef's kitchen with two ovens, study, theater, pub room, wine room, billiards room, vaulted ceilings, rich wooden accents, private ski run, amazing views and much more. The living area is extended outdoors with a covered and heated dining space, fireplace and sunken hot tub overlooking the ski area. This is the only ski-in/ski-out property on West Buttermilk.























Today's Top Real Estate News

More Evidence For Decelerating Home Price Gains

By Jann Swanson
Mortgage News Daily

The third major home price index released January data released on Monday and it became the third to post a deceleration in the rate of price appreciation.  Black Knight Financial Services said that prices in January increased from January 2016 by 5.4 percent.  Year-over-year increases had averaged of 5.75 percent over the fourth quarter of 2016.

From December to January the Black Night Home Price Index (HPI) was up 0.1 percent, the same increase as from November to December, however in each of the previous two months the increase was 0.2 percent and monthly increases averaged 0.52 percent for all of 2016.

The January HPI was $266,000.  This was only 0.3 percent below the peak price level reached nationally in June 2006 and is 33.6 percent above the 2012 price trough

New York State again led as the state with the fastest price appreciation; prices rose 1.3 percent compared to December.  This was more than double the rate of the three states, Hawaii, New Jersey, and Washington, that tied for second, all with monthly increases of 0.6 percent.  Maine rounded out the top five at 0.5 percent.\

Alabama was the worst performing state, prices were down by 0.8 percent from December.  This was partially driven by a 4.0 percent decrease in Tuscaloosa (on top of a 3.5 percent drop the month before.)  Two other Alabama metro areas, Anniston and Daphne, had the second and third largest losses among metros, down 1.1 and 1.0 percent respectively.   The other states in the top five for negative price changes were Arkansas and Iowa, each down 0.6 percent and North Dakota and Oklahoma where prices fell 0.5 percent.

The New York City metro area was the month's best-performing metro, with prices rising 1.3 percent, followed by Seattle and San Jose, each up 0.8 percent from December.  Honolulu, San Diego, Bend, Oregon; and Buffalo all posted 0.7 percent gains.
Home prices in three of the nation's 20 largest states (Massachusetts, New York, and Washington) and nine of the 40 largest metros hit new price peaks.
Today's Mortgage Rates

                                                                                                                          52 Week
ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.17%4.20%-0.033.34%4.39%
15 Yr FRM3.39%3.41%-0.022.69%3.61%
FHA 30 Year Fixed3.75%3.80%-0.053.15%4.10%
Jumbo 30 Year Fixed4.38%4.40%-0.023.42%4.60%
5/1 Yr ARM3.06%3.08%-0.022.80%3.25%





Updated: 3/27/17 6:28 PM


30 Year Fixed Rate Mortgage History



Mortgage Rates Lowest in More Than a Month
Mar 27 2017, 6:41PM

Mortgage rates improved today, hitting the lowest levels in more than a month.  Bond markets (which underlie mortgage rates) generally improved last week as the new administration's ability to get policy changes through Congress was called into question by the breakdown of the new healthcare bill.  As of last week, there was some hope that debate would resume this week and that the bill wasn't completely dead.  As the weekend passed without meaningful updates, markets increasingly assumed failure.

One of the primary functions of government and mortgage-backed bond markets is to serve as a "risk-free" investment.  It might seem strange to consider mortgage-backed securities (MBS) as "risk-free" with the mortgage meltdown being a fairly recent phenomenon, but indeed, today's MBS are as risk-free as they've ever been.  Even then, they tend to follow movements in US Treasuries which are considered the risk-free benchmark for all other dollar-denominated bonds.

All that to say that investors buy bonds (which pushes rates lower) when they wish to avoid risk, or when they think that riskier investments won't perform as well.  The promise of new and stimulative fiscal policies helped riskier assets (like stocks) outperform in the wake of the presidential election.  To whatever extent the ability of the new administration to effect policy change is called into question, investors will increasingly consider moving away from riskier assets and back into bonds.  The breakdown of the healthcare bill provides exactly that motivation.

Whether this is an ongoing theme, or a mere growing pain for the new administration remains to be seen.  But as long as the possibility remains that it's an ongoing theme, bond markets (and thus, mortgage rates) can continue to be more resilient than they otherwise would have been.

That resilience manifested itself today in rates moving down to 4.125% for many lenders (top tier, 30yr fixed quotes).  Nearly as many remain at 4.25%, but for lenders who didn't quote lower rates today, closing costs are lower on average (making "effective rates" lower). 

Loan Originator Perspective


With all the uncertainty in financial markets, it makes the absolute most sense to lock in your mortgage rate at application.  Today we are also benefiting from a mini rally in interest rates over the last two weeks.  It is impossible for anyone to call the direction of rates, locking in at these levels and securing your rate is the smart choice.  Take the risk off the table, and focus on what’s important, your family and career. -Gus Floropoulos, VP, The Federal Savings Bank

Our recent bond rally continued today, as investors pondered tax reform and fiscal stimulus' legislative fates.  The more dysfunctional Washington is, the less likely inflationary reforms become.  Suffice to say dysfunction is winning at the moment.  I'm OK floating short term, as it often takes secondary desks a few days to pass along pricing improvements.  As always, only float if you won't lose sleep (or your loan!) if rates rise. -Ted Rood, Senior Originator

Today's Best-Execution Rates

  • 30YR FIXED - 4.125-4.25%
  • FHA/VA - 3.75-4.25%
  • 15 YEAR FIXED - 3.5-3.625%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender
Ongoing Lock/Float Considerations
  • 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
  • Still, it would take something very big and unexpected for rates to make a big, sustained push back toward pre-election levels.   Even then, it would take time to confirm such a shift.
     
  • With fiscal and monetary policy paths both clearly putting pressure on rates, at least one of those would need to make a noticeable change before anything but a cautious, lock-biased approach makes sense as a baseline strategy.  Floating should only be considered as a tactical opportunity to capitalize on temporary corrections.
     
  • Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders.  The rates generally assume little-to-no origination or discount except as noted when applicable.  Rates appearing on this page are "effective rates" that take day-to-day changes in upfront costs into consideration.
Today's Top LA Luxury Estate Listed For Sale


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     24716 Long Valley, Hidden Valley, CA 91302 with 6 bedrooms, 9 baths, and 11,060 sq.ft. is listed for sale at $12,995,000
24716 Long Valley, Hidden Hills, CA
Stately traditional estate with transitional flare, located within the exclusive guard gated Hidden Hills. Elegantly situated on over an acre of land, this recently completed home offers over 11,000 square feet of luxurious living space. The open floor plan seamlessly blends indoor and outdoor living. With five en suite bedrooms, and approx 1,000 sq ft guest house, the home is perfectly scaled to accommodate both family living and grand entertaining.

24716 Long Valley, Hidden Hills, CA
24716 Long Valley, Hidden Hills, CA

24716 Long Valley, Hidden Hills, CA
24716 Long Valley, Hidden Hills, CA
24716 Long Valley, Hidden Hills, CA
24716 Long Valley, Hidden Hills, CA
24716 Long Valley, Hidden Hills, CA

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. Carfree 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 home values have gone up 2.8% over the past year. Zillow predicts they will rise 1.6% within the next year.  

#1     18619 N 101st Place, Scottsdale, AZ 85255 with 3 bedrooms, 4 baths, and 4,667 sq.ft. is listed for sale at $3,495,000.


I
n the Horseshoe Canyon of Silverleaf, the Casitas continue to be one of the most sought after properties. This home is no exception. Perhaps it's the open floor plan with 3 bedrooms/3.5 baths + office - and extraordinary interior finishes throughout. Or maybe the privacy afforded by backing to lush open space, the city light and sunset views from the front and back of the home, and the seamless indoor-outdoor living that is perfect for family living and entertaining. Best of all, close proximity to the renowned Silverleaf Club and Spa.











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     565 Canyon, Solona Beach, CA 92075 with 6 bedrooms, 6 baths, and 6,370 sq.ft. is listed for sale at $5,495,000



Incredible Private,Rare,Gated,Ocean View Property,West Solana Beach! Recently renovated from top to bottom. No expense spared! Walls of windows, Commercial Wolf Range,& Refrigerator,Wide plank white oak flooring throughout,Lavish master with private view deck,2 family rooms, game media room, Huge bedroom ensuites. Indoor/Outdoor living at it's best, La Cantina doors & windows,2 BBQ entertaining areas-Fire feature, koi pond, Salt pool/spa,Soccer & Basketball sport courts, sep.driveway for RV/Boat parking.














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     2230 Bush Street, San Francisco-Lower Pacific Heights, CA 94115 with 
3 bedrooms, 3 baths, and 3,571 sq.ft. is listed for sale at $4,995,000.


Dwell Magazine-featured adaptive reuse artistic loft masterpiece set in a former Chinese Laundry/Tooth Powder Factory in the enviable Lower Pac Heights/Fillmore District. Feels like a single-family home in design, layout, and comforts. ~3600 sq', 3 bedrooms/baths, this voluminous space features +/-17' ceilings, 2 internally sited customized cantilevered shipping containers, teak vanities, Wolf & Sub-Zero appliances, and 2-car garage. Custom artisan details throughout. Additional 800+ sq' of outdoor living : Japanese hot tub and shower, grill, and massive catamaran-style hammock. Privacy, sophistication, true NY SOHO loft living in an established vibrant neighborhood. 98 Walk Score;6 Michelin-starred restaurants nearby. No HOA dues.















Today's Top Seattle Luxuey 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     820 W Lee Street, Seattle-Queen Anne, WA 98119 with 5 bedrooms, 4 baths, and 4,500 sq.ft. is listed for sale at $2,800,000.



Four story Brick Colonial w/ panoramic views from every floor. Elevator runs from garage to 3 floors housed in striking tile roofed tower. Original millwork, pocket doors, hardwood floors, period lighting and fireplaces. Grand staircase entry leads to spacious living room, cozy library and entertaining size dining room. Kitchen has bright and sunny eating space and opens onto courtyard and established garden and expansive lawn. Legal ADU with private entrance. Privately sited on a street to alley corner lot.















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!

Cordially,

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