Monday, March 20, 2017


Today's Best Mansion 


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

#1     9905 Lania Lane, Beverly Hills, CA 90210 with 12 bedrooms, 23 baths, and 18,000 sq.ft. is listed for sale at $129,000,000.

20 17211664 0 1489773808 636x435

Once in a lifetime, an estate of such distinction becomes available. A palatial Mediterranean minutes from the heart of Beverly Hills, Palazzo di Amore sits on a rare approx. 25 acre promontory with panoramic city-to-ocean views. The prestigious residence embodies both majesty and family. Outstanding amenities include: quarter-mile, tree-lined private drive, waterfall, luxuriant gardens, sparkling pools. Colonnaded dining room with wine tasting room, grand chef's kitchen, approx. 10, 000-bottle temp controlled wine storage, large tasting room, unrivaled master suite, Moroccan retreat, Turkish-style spa. Guest house, gorgeous terraced acreage, producing vineyards, pool, spa, tennis court & pavilion, reflecting pool, fountain, state-of-the-art entertainment complex with stage, theater, ballroom, bowling alley. Entertain in true luxury and sophisticated beauty. Bring your most discerning clients to reimagine this majestic estate in all its cosmopolitan grandeur.

9505 Lania Lane, Beverly Hills, CA

9505 Lania Lane, Beverly Hills, CA

9505 Lania Lane, Beverly Hills, CA

9505 Lania Lane, Beverly Hills, CA

9505 Lania Lane, Beverly Hills, CA

9505 Lania Lane, Beverly Hills, CA

9505 Lania Lane, Beverly Hills, CA

9505 Lania Lane, Beverly Hills, CA

Today's Top Real Estate News

Shopping for a home? You better act fast!
By Diana Olick
CNBC


Prospective home buyers view a kitchen while touring a house for sale in Helotes, Texas.

Prospective home buyers view a kitchen while touring a house for sale in Helotes, Texas.
If you're out shopping for a home this weekend, bring your checkbook
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There may still be ice on the ground in much of the nation, but the spring housing market is the hottest it's been in a decade. Consumer sentiment in both the economy and the housing market is rising and that is translating into strong demand from homebuyers. The trouble is, the supply of homes for sale is incredibly weak and getting weaker. What is for sale is selling fast.

The typical home that sold last month went under contract in 60 days, eight days faster than one year ago, according to a new report from Redfin, a real estate brokerage. Nearly 15 percent of all homes listed for sale in February were off the market within two weeks, up from 11.7 percent last year. This is the fastest February market Redfin has recorded since it began tracking in 2010.

The speed and the competition are combining to push home prices higher. Redfin recorded a 7 percent annual jump in median sale prices in February. Homeowners now have a lot of equity. In fact, total home equity hit a new peak at the end of last year, according to research by the Federal Reserve.

"While great for homeowners, continuously strong price growth across the U.S. since 2012 has posed significant challenges for first-time buyers, especially given such low supply in affordable price-tiers," said Nela Richardson, Redfin's chief economist. "There is a silver lining on the horizon, however. Rising prices and increased equity may tip the scales for homeowners who have been delaying their decision to move up, which could add much-needed starter-home inventory to the market."

More homeowners think now is a good time to sell, according to the latest housing sentiment survey from Fannie Mae. More also consider now to be a good time to buy as well, but the same is not true for renters. Confidence in home buying is slipping among renters as affordability sinks.

"Inventory conditions are even worse than a year ago, and home prices and mortgage rates are on an uphill climb," said Lawrence Yun, chief economist for the National Association of Realtors. "These factors are giving many renter households a pause about it being a good time to buy, even as their job prospects improve and wages grow. Unless there's a significant boost in supply levels this spring, these constraints will, unfortunately, slow or delay some prospective buyers' pursuit of purchasing a home."

Construction workers building a new home in Miami, Florida.

Regionally, Seattle was the fastest market in February, according to Redfin, with nearly half of all homes going under contract in just 12 days. Oakland, California, and Denver followed with 15 and 18 days on the market, followed by San Jose, California, (21) and San Francisco (28). The majority of those homes sold above list price.

As for supplies, Rochester, New York, had the largest decrease in inventory, down 42 percent compared to a year ago. Buffalo, New York, down 38 percent; Seattle, down 35 percent; and Omaha, Nebraska, down 35 percent; also saw far fewer homes available on the market than a year ago.

On the bright side, Provo, Utah, saw the biggest jump in listings, up 31 percent from a year ago, followed by Knoxville, Tennessee, up 22 percent; and New Orleans, up 16 percent.



Today's Mortgage Rates 

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.26%4.27%-0.013.34%4.39%
15 Yr FRM3.46%3.47%-0.012.69%3.61%
FHA 30 Year Fixed3.85%3.88%-0.033.15%4.10%
Jumbo 30 Year Fixed4.48%4.50%-0.023.42%4.60%
5/1 Yr ARM3.09%3.08%+0.012.80%3.25%






Updated: 3/17/17 2:37 PM

Mortgage Rates Steady to Slightly Lower
Mar 17 2017, 2:56PM

Mortgage rates managed to maintain the improvement seen since Wednesday's Fed announcement.  While the Fed did indeed hike its policy rate, the hike was widely expected and had already been accounted for in longer-term bond markets (like those that dictate mortgage rates).  The easiest way to understand this is to consider that most bond market securities (like Treasuries and Mortgage-Backed-Securities) can move/change every millisecond of every business day. 

The Fed Funds rates, on the other hand, only changes/moves at the end of scheduled Fed meetings 8 times a year.  If bond markets are reasonably confident the Fed is going to hike rates, they can begin trading accordingly well in advance.  That exact scenario played out over the past month and accounts for much of the move higher in rates from late February through Fed day.  

Because bonds were already in position for the Fed hike, they were free to react to other aspects of the Fed policy.  Specifically, investors were expecting the Fed's forecast to show faster rate hikes in the future.  This accounts for some of the move higher in rates in early March.  The Fed's actual forecast turned out to be fairly tame and rates were thus able to move quickly lower.

There hasn't been much movement since the initial reaction to the Fed this past Wednesday.  Conventional 30yr fixed rates continue hovering around 4.25% for top tier scenarios.  

Loan Originator Perspectives

Good week for rates. We made up quite a bit of ground since Monday. And that leaves us right back towards the middle of the 2.32-2.62 range on the 10 year Treasury bond since the election. If you have overnight protection, meaning you can wait until Monday pre-market to lock, you may want to see if things remain the same over the weekend. If not, you’ve recovered and 1/8th-1/4 since Monday, so take the gains and call it a day if you’re risk averse. The choice is always yours. Happy St. Patrick’s Day! -Jeff Anderson, Loan Officer, Salem Five Mortgage, LLC

Bonds posted a green day, in honor of St Patrick, and my pricing improved over Thursday's. It appears for now that our rising rate trend is on hold.  That hardly guarantees a looming rally, but sure beats watching a daily bond sell-off.  I still think rate sheets haven't seen the full benefit of this week's gains, so looking to float this weekend.  Next week's economic calendar shows limited significant events until Thursday, my hunch is pricing improves over the weekend.  Hope your brackets aren't busted yet!  -Ted Rood, Senior Originator

Today's Best-Execution Rates
  • 30YR FIXED - 4.25%
  • FHA/VA - 4.0-4.25%
  • 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. 
30 Year Fixed Rate Mortgage History

                                                                                                  
Today's Top LA Luxury Estate Listed For Sale

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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   10690 Somma Way, Bel Air, CA 90077 with 5 bedrooms, 10 baths, and 9,763 sq.ft. is listed for sale at $24,888,000.

10690 Somma Way, Los Angeles, CA

This trophy Bel Air Estate, on 4 acres of sun bathed promontory, is located at the end of a long driveway. Enter through private gates into the circular motor court of this dramatic apx. 10K sqft 80's Architectural. There is a huge 2 story atrium with a spiral staircase that leads to a spacious master suite which encompasses almost the entire 2nd floor, with oversized double baths, closets, deck's and views galore. There are 5 bedrooms total and also a media room, game room and gym. The grounds include a tennis court, pool, pavilion, and covered parking for 8 cars. Breathtaking views in all directions - very private. 

10690 Somma Way, Los Angeles, CA

10690 Somma Way, Los Angeles, CA

10690 Somma Way, Los Angeles, CA

10690 Somma Way, Los Angeles, CA

10690 Somma Way, Los Angeles, CA

10690 Somma Way, Los Angeles, CA

10690 Somma Way, Los Angeles, CA

10690 Somma Way, 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     8731 N 68th Street, Paradise Valley, AZ 85253 with  7 bedrooms, 6 baths, and 8,000 sq.ft. is listed for sale at $2,800,000.

8731 N 68TH N Street, Paradise Valley, AZ

Incredible opportunity to purchase a true Paradise Valley Estate ON OVER AN ACRE at this price. Inspired by the Royal Palms Resort, this spectacular property was built with comfort, class, and convenience. Main home features the perfect floor plan for entertaining and lifestyle. Master wing of the home has excellent space, privacy and an incredible master bath with spacious his and her master closets. The main living are wide open with soaring ceilings, custom bar, and cantera fireplace. Open island kitchen is has all the amenities anyone could ask for including custom cabinets, Dacor appliances, and views of the resort style back yard. The exterior of the main home features a length of the home covered patio that connects to the 1500 sq.ft. guest house. 

 8731 N 68TH N Street, Paradise Valley, AZ

8731 N 68TH N Street, Paradise Valley, AZ

8731 N 68TH N Street, Paradise Valley, AZ

8731 N 68TH N Street, Paradise Valley, AZ

8731 N 68TH N Street, Paradise Valley, AZ

8731 N 68TH N Street, Paradise Valley, AZ
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      7033 Las Colinas, Rancho Santa Fe, CA 92067 with 5 bedrooms, 7 baths, 
and 10,000 sq.ft. is listed for sale at $3.000,000.

7033 Las Colinas, Rancho Santa Fe, CA

Timeless Mid Century Modern style home that lives like a single-level. Impressive floorplan hosts spacious master suite w/ library and his and her's offices on one side, kitchen and a family wing of 4BRs plus a fun playroom/family room on the other. Over 10,000 square feet with a downstairs dedicated to entertaining, recreation, and exercise. The 3.6 acres of useable property is secluded, quiet, and offers beautiful views. Extraordinary architecture! Extraordinary value.

7033 Las Colinas, Rancho Santa Fe, CA

7033 Las Colinas, Rancho Santa Fe, CA

7033 Las Colinas, Rancho Santa Fe, CA

7033 Las Colinas, Rancho Santa Fe, CA

7033 Las Colinas, Rancho Santa Fe, CA

7033 Las Colinas, Rancho Santa Fe, CA

7033 Las Colinas, Rancho Santa Fe, CA

7033 Las Colinas, Rancho Santa Fe, CA

7033 Las Colinas, Rancho Santa Fe, CA

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     12190 Padre Court, Los Altos Hills, CA 94022 with 5 bedrooms, 4 baths, and 6,800 sq.ft. is listed for sale at $9,998,000.

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This stunning estate is perfect for indoor/outdoor living and is situated on over an acre of mostly flat land. This unique custom built home has a spacious in-law unit, an open floor plan, 5 fireplaces, cathedral ceilings with skylights, a gourmet kitchen, a living room, a formal dining room, a family room, spacious bedrooms, an office, a loft, attached 3 car garage and a resort like pool, spa, and gazebo.

12190 PADRE CT, LOS ALTOS HILLS, CA

12190 PADRE CT, LOS ALTOS HILLS, CA

12190 PADRE CT, LOS ALTOS HILLS, CA

12190 PADRE CT, LOS ALTOS HILLS, CA

12190 PADRE CT, LOS ALTOS HILLS, CA

12190 PADRE CT, LOS ALTOS HILLS, CA

12190 PADRE CT, LOS ALTOS HILLS, CA

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     7623 NE 14th Street, Medina, WA 98039 with 4 bedrooms, 6 baths, and 5,443 sq.ft. is listed for sale at $4,278,000.  

7623 NE 14th St, Medina, WA

East Coast style balanced with southern charm in Medina. This artfully designed residence was completely renovated in 2015. Unmatched craftsmanship and attention to detail hosting the best floor plan with 4 bedrooms all ensuite. At the center of it all is the chefs dream kitchen and great room. Enjoy hosting super bowl parties and book club with friends. Complete outdoor kitchen & living room. Endless yard on a sprawling .47 acre. Ride bikes to golf, the park or the beach on a summer afternoon.

7623 NE 14th St, Medina, WA

7623 NE 14th St, Medina, WA

7623 NE 14th St, Medina, WA

7623 NE 14th St, Medina, WA

7623 NE 14th St, Medina, WA

7623 NE 14th St, Medina, WA

7623 NE 14th St, Medina, WA
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