Tuesday, March 21, 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      145 Hudson Street, New York, NY 10013 with 4 bedrooms,5 baths, and 
7,493 sq.ft. is listed for sale at $45,000,000.



Breathtaking design and contemporary luxury are artfully embodied in this masterful 7,500 square foot 4 bedroom, 4.5 bath Tribeca Penthouse with a 4,500 SF wraparound terrace. Encompassing the top two floors of the famed Sky Lofts Condominium, this one-of-a-kind home, created by NY architect James Carpenter (designer of 7 World Trade Center) is built for someone who loves abundant natural light yet is mindful of preserving fine art and furnishings, as it is sheathed in UV coated high-performance, museum-quality insulated glass. Park your car in one of the three private dedicated parking spots that come with owning this special penthouse and enter via private key-locked elevator to find the brilliantly illuminated double-height south-facing great room with 18-ft ceilings, floor-to-ceiling windows which frame a direct view of the Freedom Tower, and a two-story cherry wood hearth with a wood burning fireplace (one of three in this residence). Oversized glass sliding doors flow like moving walls and open from all rooms on this level to the incomparable, fully irrigated private outdoor area. The terrace features a state-of-the-art stainless steel kitchen, a hot tub (which doubles as an endless lap pool), outdoor shower, and an inviting teak decked dining area right off of the kitchen and dining room. Pin-drop quiet, the envelope of this incredible Penthouse was designed to bring the spectacular panoramas of downtown New York inside, including sweeping views of the Hudson River, Freedom Tower, Empire State Building, and much more









Today's Top Real Estate News

Foreclosure Rates Normalize 10 Years After Housing Bust

By Paul Ausick
24/7 Wall Street

Image result for photo of house with for sale sign

In 2010, at the peak of the Great Recession, 1.18 million U.S. homes went through completed foreclosures, nearly five times as many as in 2000 and about double the number of completed foreclosures in 2007, the year the housing crisis really took off.

Many economists mark the beginning of the foreclosure crisis with the collapse of two Bear Stearns subprime funds in June 2007, with the crisis deepening as a result of the Lehman Brothers bankruptcy in September 2008. Since the beginning of 2007, there have been approximately 7.8 million completed foreclosures nationally. Counting from the second quarter of 2004 when homeownership rates peaked, there have been approximately 8.6 million homes lost to foreclosure.

By the end of 2016, the number of completed foreclosures had dropped to around 385,800, just above a total of around 383,000 in 2006, according to a report released Tuesday by CoreLogic.

Dr. Frank Nothaft, CoreLogic's chief economist, said:

The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.

The following list shows the 10 states with the highest peak foreclosure rates, along
with the current foreclosure rate:

Florida:                                         12.5% at peak;  1.5% currently
Nevada:                                         8.5%;               1.0%
New Jersey:                                  7.4%;                2.8%
Illinois:                                           5.6%;                1.0%
New York:                                      5.3%;                2.8%
Connecticut:                                  4.6%;                1.4%
Maine:                                           4.4%;                1.8%
Maryland:                                      4.4%;                1.0%
Hawaii:                                          4.4%;                1.7%
Arizona:                                        4.4%;                 0.3%

Here's the list of foreclosure rates for the 10 largest U.S. metropolitan areas, both at their peak and currently.

Miami, Florida:                          19.2% at peak; 2.1% currently
Las Vegas, Nevada:                   9.6%;              1.2%
Chicago:                                     6.6%;              1.2%
New York City:                            6.0%;              2.6%
Los Angeles:                               3.5%;              0.3%
Washington, D.C.:                       2.6%;              0.7%
Boston, Massachusetts:              2.3%;              0.9%
Denver, Colorado:                       2.0%;              0.2%
Houston, Texas:                          1.8%;              0.6%
San Francisco, California:          1.4%;               0.1%

The report, "United States Residential Foreclosure Crisis: Ten Years Later," is available at CoreLogic 


Today's Mortgage Rates 

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.24%4.26%-0.023.34%4.39%
15 Yr FRM3.44%3.46%-0.022.69%3.61%
FHA 30 Year Fixed3.85%3.85%--3.15%4.10%
Jumbo 30 Year Fixed4.44%4.48%-0.043.42%4.60%
5/1 Yr ARM3.10%3.09%+0.012.80%3.25%
Updated: 3/20/17 3:45 PM

Mortgage Rates at 2 Week Lows Amid Political Uncertainty
Mar 20 2017, 3:58PM

Mortgage rates were steady-to-slightly lower today, keeping them in line with the lowest levels in 2 weeks and very close to the lowest levels of the month.  For most lenders, that means conventional 30yr fixed rate quotes of 4.25% on top tier scenarios.  Some lenders are still up at 4.375% and an aggressive few are back down to 4.125%.

Last week, we discussed the motivations for the rate improvements in detail.  To recap: longer-term rates like mortgages had already risen in anticipation of the Fed rate hike.  It wasn't a surprise.  Instead, markets were focused on the Fed's forward-looking rate hike forecasts, which came out slightly slower than markets expected.  Thus, rates were overly-prepared for a fast rate hike timeline and had some room to return to early March levels. 

From there, attention has turned to fiscal uncertainty as several policy objectives of the Trump administration have run into roadblocks.  Specifically, investors are concerned that tax cuts will be significantly delayed as the health care debate seems to be front and center. The expectation of tax cuts (and other fiscal measures) was a major contributor to the move higher in rates and stocks after the election.  To whatever extent those measures are delayed, investors can easily question if rates and stocks are higher than they should be. 

Loan Originator Perspectives


Bonds continue to move lower following the FOMC announcement of last week.  At this point, if you have been floating I think it is worthwhile to continue to float to see how much further bonds may rally.  Lenders have been pretty tight in passing along these recent gains making floating a little less risky. -Victor Burek, Churchill Mortgage

Bonds may have found their footing, as we retained (and built on) last week's gains Monday. My pricing was roughly 20 bps better than Friday's.  There's scant data for a few days, and the potential for some Brexit Drama as Britain prepares for the next step in leaving the EU. While I don't anticipate a face melting rally, think we should hold our ground or post small gains the next few days.  I'm not adverse to floating new loans short term, provided borrowers understand there's still a chance pricing could worsen.  -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.  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     512 N Roxbury Drive, Beverly Hills, CA 90210 with 5 bedrooms, 6 baths, and 7,000 sq.ft. is listed for sale at $9,480,000.


Elegant Villa situated on one of the most prestigious and desirable streets in the Beverly Hills Flats within close walking distance to the prime shops, restaurants, and Rodeo Drive. This property is private and gated with a circular front driveway and two car garage. Enter into a grand two-story limestone foyer with sweeping dual staircase. Incredible volume and grand scale throughout. Step-down living room with coffered ceilings and fireplace, large formal dining room, light and bright family room, office, and chef's kitchen with breakfast room. Powder room and maid's room complete the main level. Upstairs offers three family bedroom suites and the gorgeous master suite with sitting area and dual marble baths. The lush backyard features a patio, manicured lawn, pool, and spa.










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      10806 E Falling Star Drive, Scottsdale, AZ 85262 with 5 bedrooms, 6 baths, and 5,579 sq.ft. is listed for sale at $2,895,000.


Spectacular, unobstructed views of the distant city lights andcolorful sunsets abound from this outstanding home perchedhigh above in the Village of Lost Star. The best of the bestfinishes throughout include top-of-the-line lighting, granite,marble, stone, wood and interesting artisan glass fireplaces. Themain house, with an attractive front courtyard, offers a kitchen/family room configuration with a formal dining and living roomconcept all open perfect for entertaining. There are five bedrooms,each with their own walk-in closet and private bathroom. Asan added bonus, there are his-and-her separate offices. Outsideis a private entry to the cozy guest house offering a living area,king-sized bedroom, and bath



10806 E FALLING STAR Drive, Scottsdale, 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     6005 Camino De La Costa, La Jolla, CA 92037 with 6 bedrooms, 7 baths, and 4,609 sq.ft. is listed for sale at $6,595,000




Contemporary yet comfortable, refined yet relaxed, this Stunning Coastal estate rests along one of the MOST DESIRABLE streets in all of La Jolla offering Dramatic OCEAN VIEWS and exquisite finish quality throughout. Wall to wall pocket doors and floor to ceiling windows create seamless indoor/outdoor living and allow one to enjoy the ocean views from almost every room without sacrificing privacy. The home offers a RICH HISTORY and was the Former Home of Novelist & Screenwriter Raymond Chandler  .










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     2424 Buchanan Street, San Francisco-Pacific Heights, CA 94115 with 
6 bedrooms, 5 baths and 6,000 sq.ft. is listed for sale at $6,450,000.

2424 Buchanan Street, San Francisco, CA

Pacific Heights Home built on a grand scale offers five bedrooms and four and half bathrooms plus an aupair room, two family rooms and a library. Enter into a gracious foyer with outstanding architectural details a wood panel library, sunny living room with a decorative fireplace looking out to a tree line street and a gracious dining room with built-ins that can comfortably seat twelve. Eat-in kitchen with granite counter tops and stainless steel appliances with an adjoining family room and a deck leading to a lovely city garden. Bedroom Level: a private Master Suite with a sitting room and marble bathroom that offers a spa tub and steam shower. Two sunny bedrooms with large closets complete this level. The Upper Level offers two more bedrooms, bathroom and family room. The lower level has a separate aupair entrance and a play room/office with direct access to the garden. Large laundry room, wine closet, extra storage and two car tandem parking. Located close to Fillmore Street.

2424 Buchanan Street, San Francisco, CA

2424 Buchanan St, San Francisco, CA 94115

2424 Buchanan St, San Francisco, CA 94115

2424 Buchanan St, San Francisco, CA 94115

2424 Buchanan St, San Francisco, CA 94115

2424 Buchanan St, San Francisco, CA 94115

2424 Buchanan St, San Francisco, CA 94115

2424 Buchanan St, San Francisco, CA 94115

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     1712 Lake Washington Blvd., Seattle-Capital Hill, WA 98122, with 5 bedrooms, 
5 baths, and 6,100 sq.ft. is listed for sale at $4,800,000.

1712 Lake Washington Blvd, Seattle, WA

Fabulous 1926 View home in coveted Denny Blaine. Effectively built 2014 by renowned quality builder, Schultz Miller. Elegantly designed by Margaret Menter. Beautifully serene, a home of distinction.Wonderfully over sized spaces for entertaining.Lovely Mahogany floors. 4 Bedrooms up, Nanny suite lower. Special property with views of Lake Washington, the Cascades, Mt. Rainier and skyline of Bellevue. A gorgeous home for the discerning.Up to date conveniences and comforts. Large attached garage.

1712 Lake Washington Blvd, Seattle, WA

1712 Lake Washington Blvd, Seattle, WA

1712 Lake Washington Blvd, Seattle, WA

1712 Lake Washington Blvd, Seattle, WA

1712 Lake Washington Blvd, Seattle, WA

1712 Lake Washington Blvd, Seattle, WA


1712 Lake Washington Blvd, Seattle, 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