Wednesday, March 29, 2017


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

Today's Best Mansion 

#1      382 Baron Lane, Southampton, New York 11968 with 8 bedrooms, 10 baths, and 7,000 sq.ft. is listed for sale at $55,000,000


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Top-most among the finest Hamptons oceanfront estates, the opportunity to own this extraordinary property may only happen once in a lifetime. Barons Lane offers 4.5 +/- acres with 430 +/- feet of direct oceanfront, and 360-degree views from the ocean across farm fields and ponds. This truly feels like its own world. Designed by Eric Woodward, and built by Harold Reeves and Sons, this 7000 +/- square foot residence with eight bedrooms, eight baths, and two powder rooms encompasses three levels and offers various separate and communal living spaces. The classic shingle style exterior offers enormous picture windows and broad ocean-facing decks. Inside, detailed woodwork is the hallmark from light-toned floors, stair railings and balustrades, window seats, and doors. the ground floor western wing includes two en suite guest bedrooms, one with a fireplace. An adjoining hallway leads to the eastern wing with oversized laundry facility, two bedrooms with shared bath, and three more guest suites, one that opens to a patio and 20'x50' heated Gunite pool. the main level offers the great/living room with fireplace that opens onto the ocean-facing deck with two covered sections. The master suite includes an office, fireplace, and also opens onto the deck. off the great room, an office has its own fireplace, the formal dining room seats twelve, and is adjoined by the morning room. these front-of- the house rooms face open farm fields and a pond. The large chef-level kitchen with composite tone counters features a stainless steel professional range/grill, Subzero refrigerators, three Bosch dishwashers, and informal dining/family room with fireplace and powder room that opens on the rear deck. A staircase rising above the kitchen opens to a roof deck that offers breathtaking views in every direction. The lower level houses modern mechanicals, the attached garage accommodates three-plus vehicles, and the property has its own power generator. 

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Today's Top Real Estate News
Case-Shiller Telling Different Story: Best Price Gains in 31 Months
Mar 28 2017, 10:00AM

By Jann Swanson
Mortgage News Daily

The S&P CoreLogic Case-Shiller U.S. National Home Price Index for January ran counter to other major prices indices in that it continued to show home price gains accelerating into the new year.  The Index, which covers the nine U.S. census districts, was up 5.9 percent from January 2016, compared to a year-over-year increase in December of 5.7 percent, revised down from 5.8 percent.  The January increase was the largest in 31 months.  The three other major indices, from FHFA, CoreLogic, and Black Knight Financial Services had posted annual gains for January that ranged from 0.2 to 0.5 percentage points below the increases in December.

Before seasonal adjustment the National Index posted a month-over-month gain of 0.2 percent in January, and on a seasonally adjusted basis the index rose 0.6 percent, slightly below its 0.7 percent increase the previous month.

The 10 City Composite rose 5.1 percent year-over-year compared to a 4.8 percent increase in December.  The 20-City Composite reported annual appreciation of 5.7 percent, 0.2 percentage points more than its December gain.  



Seattle, Portland, and Denver continue to lead the nation in appreciation.  The increase for Seattle was 11.3 percent, followed by Portland with 9.7%, and Denver with a 9.2% increase. Twelve cities reported greater price gains in the 12-month period ending January 2017 versus the period ending December 2016.

The charts below compare the price trends over different home price tiers for Seattle and Portland since 2011. They show housing prices in the high tier to be the most stable, while housing prices in the low tier are the most volatile.




The non-seasonally adjusted 10-City Composite posted a 0.3 percent increase from December and the 20-City Composite was up 0.2 percent in January. After seasonal adjustment both Composites increased by 0.9 percent.  Thirteen of 20 cities reported higher prices before seasonal adjustments in January and 19 afterward.

Econoday queries analysts on the 20-City Composite results.  They expected seasonally adjusted results in the range of 0.6 to 1.0 percent for the monthly increase and 5.6 to 5.7 for the annual gain.  The respective consensuses were 0.8 and 5.7 percent.

David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, provided the following analysis.  "Housing and home prices continue on a generally positive upward trend.  The recent action by the Federal Reserve raising the target for the Fed funds rate by a quarter percentage point is expected to add less than a quarter percentage point to mortgage rates in the near future. Given the market's current strength and the economy, the small increase in interest rates isn't expected to dampen home buying. If we see three or four additional increases this year, rising mortgage rates could become concern.

"While prices vary month-to-month and across the country, the national price trend has been positive since the first quarter of 2012. In February, the inventory of homes in the market represented 3.7 months of sales, lower than the long-term average of six months. Tight supplies and rising prices may be deterring some people from trading up to a larger house, further aggravating supplies because fewer people are selling their homes. The prices also hurt affordability as higher prices and mortgage rates shrink the number of households that can afford to buy at current price levels. At some point, this process will force prices to level off and decline - however we don't appear to be there yet."

As of January 2017, average home prices for the MSAs within the 10-City and 20-City Composites were back to their winter 2007 levels.  The National Index is now 0.5 percent higher than at its peak in July 2006 while the 10-City is 8.6 percent below its peak and the 20-City is off by 6.6 percent.



The S&P CoreLogic Case-Shiller Home Price Indices are constructed to accurately track the price path of typical single-family home pairs for thousands of individual houses from the available universe of arms-length sales data. The National U.S. Home Price Index tracks the value of single-family housing within the United States. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50 percent appreciation rate since January 2000 for a typical home located within the subject market. 

The National Index in January was at 185.5 and the 10- and 20-City Composites had readings of 206.73 and 192.81 respectively.  Los Angeles has the highest index reading at 254.08 and Detroit the lowest at 109.54, representing a second straight monthly decline.


Today's Mortgage Rates
52 Week
ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.21%4.17%+0.043.34%4.39%
15 Yr FRM3.42%3.39%+0.032.69%3.61%
FHA 30 Year Fixed3.80%3.75%+0.053.15%4.10%
Jumbo 30 Year Fixed4.42%4.38%+0.043.42%4.60%
5/1 Yr ARM3.10%3.06%+0.042.80%3.25%
Updated: 3/28/17 2:02 PM
After Hitting 1-Month Lows, Rates Bounce Abruptly Higher 
Mar 28 2017, 2:06PM


Just one day after hitting the lowest levels in more than a month, mortgage rates bounced higher today.  For all intents and purposes, rates fell on Monday morning as the weekend produced no meaningful updates on the recent healthcare bill.  Now today, Speaker Ryan and several unnamed sources have confirmed that the bill remains a priority for the House and they want to "get it right" without putting a timeline on it.  That means Monday's rate improvements no longer have the same justification.  As such, rates shot quickly back into last week's range.

In addition to the updates on the healthcare bill, a top Fed official confirmed that 3 rate hikes are likely in 2017.  This added additional weakness to bond markets (which dictate today's interest rates).  Almost every lender recalled the morning's initial rate sheets and "repriced" to higher rates in the afternoon.  Whereas 4.125% had been just become the most prevalent conventional 30yr fixed quote for top tier scenarios as of yesterday, today brings us back to 4.25%.  Not every lender will be quoting different rates.  Those who are quoting the same rates will instead be charging higher upfront costs (thus raising the effective rate).

This abrupt change in bond markets is the biggest day of losses since the recent positive trend began in mid-March.  It's the most compelling motivation for fence-sitters to consider locking that we've seen since then. 

Loan Originator Perspective


The benchmark 10 year note has been unable to make new lows today.  So, like yesterday, I think it is wise to look at locking in today if you are within 30 days of funding.  Only loans I would consider floating are those that can lock on a shorter term tomorrow such as a 15 day  lock. -Victor Burek, Churchill Mortgage

Looks like bonds' recent rally may be nearing a pause, and pricing worsened slightly today.  A number of lenders issued 2nd rates this PM, as this morning's gains evaporated.  It's not surprising that the rally stalled, in fact, it was inevitable.  Floating borrowers have a choice, grab the improvement they've seen while floating, or hope for more.  I locked several deals today, think we're at best pricing we'll see for at least a few days. -Ted Rood, Senior Originator

Today's Best-Execution Rates

  • 30YR FIXED - 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.

30 Year Fixed Rate Mortgage History




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     2000 De Mille Drive, Los Angelos, CA 90027 with 6 bedrooms, 10 baths, and 11,000 sq.ft. is listed for sale at $24,950,000.

2000 De Mille Drive, Los Angeles, CA

The one and only historic Cecil B. DeMille Estate. Set on 2.1 elevated acres in prestigious Gated Laughlin Park.This multi-structure compound consists of a spectacular Beaux Arts Style mansion built in 1913, a beautiful pool house and a studio house with a separate entrance. A six-year renovation/restoration sensitive to original details yet including modern amenities has created a high-quality sophisticated environment rarely seen. Gated and walled with incredible gardens, paths and sitting areas. A newer classic old Hollywood style pool with arched fountains, surrounded by rolling lawns, specimen trees, rose gardens and dramatic views from the Observatory to Ocean sunsets.

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA

2000 De Mille Drive, Los Angeles, CA


2000 De Mille Drive, Los Angeles, 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
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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     20450 N 108th Place, Scottsdale, AZ 85255 with 6 bedrooms, 14 baths, and 20,805 sq.ft. is listed for sale at $19,950,000.



One of the most spectacular homes in Scottsdale! Found in guard-gated Silverleaf, this more than 20,000 sq. ft. estate set on 2 lots, sits on the 6th hole of the Tom Weiskopf golf course and boasts jaw dropping golf, mountain and city light views. Incredible amenities include: Total of 5 indoor and outdoor kitchens, 2 elevators, a virtual reality/golf simulator room, gymnasium w/ basketball court, volleyball court and rock climbing wall, home theater, fitness center w/steam room, detached guest house w/ private drive, 8 garages, high-tech game room, estate pool, multiple spas, state of the art security & home automation and so much more! Be sure to watch the video! This home was built by Linthicum and will be ready for move-in.















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     4860 El Nido, Rancho Santa Fe, CA 92067 with 8 bedrooms, 8 baths, and 
16,000 sq.ft. is listed for sale at $25,500,000.

4860 El Nido, Rancho Santa Fe, CA 92067

Located on the desirable west side of the exclusive Covenant of Rancho Santa Fe sits this 16,000+ square foot custom slice of Paradise. Enjoying some full 180 degree Pacific Ocean views from a just under 15 acre hilltop oasis, this home can tell time by the different colors of the ocean. See Supplement... Not only does this Contemporary Masterpiece with pristine materials, enjoy spectacular Ocean views and have the luxury of flat usable land but it also enjoys a one of a kind absolutely inspiring Contemporary Home where rooms while spacious have been designed to be warm and inviting. The 5 bedroom insuites in the Main residence, includes the personally designed Master Retreat. These 5 bedrooms coupled with the 2 bedroom suites in the Guest House and separate one bedroom insuite in the Entertaining Pavilion creates an 8 bedroom compound. Art is important here and the gallery size walls allow for full art expression.

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

4860 El Nido, Rancho Santa Fe, CA 92067

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      121 New Place Road, Hillsborough, CA 94010 with 6 bedrooms, 9 baths, and 12,666 sq.ft. is listed for sale at $22,000,000. 

121 New Place RD, HILLSBOROUGH, CA

Country estate of unrivaled grandeur in Hillsborough's most premier location. Formal grounds overlook 8th fairway of the Burlingame Country Club. Main residence with 6 bdr and  7 bath, plus 2bd/2ba caretaker's apt. Guest house with 1bd/1ba, full kitchen & adjacent fitness studio. Library, 2 offices, lower level recreation room & temperature controlled wine cellar. Enjoy the grand terrace w/pool, spa & lounge pavilion. Comprising 2 separate parcels totaling almost 2.5 acres the manicured grounds & amazing foliage afford the ultimate setting for outdoor living including a fully fenced tennis court. Close to excellent public and private schools. Located in a prime Peninsula location midway between SF and Silicon Valley this home is exceptional in every way.

121 New Place RD, HILLSBOROUGH, CA

121 New Place RD, HILLSBOROUGH, CA

121 New Place RD, HILLSBOROUGH, CA

121 New Place RD, HILLSBOROUGH, CA

121 New Place RD, HILLSBOROUGH, CA

121 New Place RD, HILLSBOROUGH, CA


121 New Place RD, HILLSBOROUGH, CA

Today's Top Seattle Luxuey Estate Listed For Sale


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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     3840 E Mercer Way, Mercer Island, WA 98040 with 5 bedrooms, 4 baths, and 6,117 sq.ft. is listed for sale at $5,500,0090.

3840 E Mercer Way, Mercer Island, WA 98040

Contemporary, timeless Nend wft. Dramatically designed for privacy w/focus on indoor/outdoor lifestyle. 130 low-bank wft, large dock, deep moorage. Casually elegant and expansive living spaces w/soaring ceilings and window walls capture expansive lake views. Open gourmet kitchen flows to casual eating area and family room. Featuring den/movie room, 2 master suites, exercise rm, shop/studio, wine cellar, large patio, BBQ and hot tub. Experience Island life on the water at this very unique NW setting.

3840 E Mercer Way, Mercer Island, WA 98040

3840 E Mercer Way, Mercer Island, WA 98040

3840 E Mercer Way, Mercer Island, WA 98040

3840 E Mercer Way, Mercer Island, WA 98040

3840 E Mercer Way, Mercer Island, WA 98040

3840 E Mercer Way, Mercer Island, WA 98040


3840 E Mercer Way, Mercer Island, WA 98040

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