Wednesday, March 22, 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     10697 Somma Way, Bel Air, CA 90077 with 8 bedrooms, 21 baths, and 
40,000 sq.ft. is listed for sale at $75,000,000 



This 40,000 sqft new construction modern Spanish Villa secluded near the iconic Hotel Bel-Air has 8 bedrooms en suite, 21 bathrooms, 2 pools (including an indoor 25m salt water lap pool), indoor basketball court/grand ballroom, giant outdoor video screen, recording studio, 6 bars, wine storage cellar, wine tasting room, full service salon connected to a wellness center spa with steam & sauna rooms, fitness center, movie theatre with popcorn/candy wall, service kitchen with walk-in refrigerator, underground auto gallery and a private security room. Quite simply, an elite estate in one of the preeminent locations in the world. Adjacent 34,500 sqft lot can be purchased separately to create lot size coverage over 92,000 sqft.


























Today's Top Real Estate News

How to pick the perfect location to buy a home, according to a real estate mogul Sidney Torres.


Location won't determine if your home is a great investment, but this will

Location is more than just an address when it comes to making a smart real estate investment.That's according to Sidney Torres, a serial entrepreneur, real estate developer and host of CNBC's "The Deed."

When Torres bought his first flip, he was making $20,000 to $22,000 a year in base pay — $40,000 with overtime. When he was only 20, his grandmother co-signed his first loan. Since then, he has developed over $100 million in real estate.

To make money in real estate, Torres advises buying homes that are in up-and-coming neighborhoods, in the "sweet spot" between the hot spot and the fringe.

But it's important to pick a location not just by triangulating on a map. You need to visit the neighborhood you are considering in the morning, the middle of the day and at night, says Torres.

"To really learn about a market, to really learn about an area, I think you drive around the area," he says. "You walk the area. And I am not talking just once. I am talking in the morning, when the sun is rising, when the sun is setting, in the evening. I think it's important to go during the day."

"Grab a little lunch and sit in your car and hang out in the area," he adds.
You want to be near good schools, shopping centers and close to main transportation sites, says Torres. Also, you want to be sure the neighborhood infrastructure is sound. For example, you want to know that streets drain well when it rains hard and that the city picks up the trash.

This self-made millionaire made his first house flip while making only $40,000 a year         

"A big mistake is not to spend the time there. Just to go there during the day, when you are at work — I think that's the wrong thing to do," says Torres. "It's really not good if you do that  because you end up buying something and end up finding out that at night it's a totally different environment in the neighborhood."

In your analysis, there is no one single feature of a neighborhood that is more important than any other.

"You have got to evaluate the entire area," says Torres. "You have to look at all of it

Today's Mortgage Rates 

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.21%4.24%-0.033.34%4.39%
15 Yr FRM3.42%3.44%-0.022.69%3.61%
FHA 30 Year Fixed3.80%3.85%-0.053.15%4.10%
Jumbo 30 Year Fixed4.40%4.44%-0.043.42%4.60%
5/1 Yr ARM3.08%3.10%-0.022.80%3.25%
Updated: 3/21/17 1:16 PM
Mortgage Rates Down to March Lows
Mar 21 2017, 4:14PM

Mortgage rates continued lower today as political uncertainty sparked the biggest day of stock market losses since the election.   In general, short term pain for stocks benefits bonds.  When demand for bonds increases, rates move lower.  Today was no exception. Bond yields (which correlate with mortgage rates) fell in lock-step with stocks in the late morning hours.

Today's improvement makes for a nice addition to several days of lower rates.  In less than a week, rates have fallen quickly from 3 year highs to the lowest levels of the month. The average lender is still quoting conventional 30yr fixed rates of 4.25% on top tier scenarios, but with lower upfront costs today.  Several of the more aggressive lenders are already back down to 4.125%, and fewer laggards remain at 4.375%.

Loan Originator Perspectives


As we saw yesterday, bond markets continued to rally today, and at a more vigorous pace than last week.  US economic growth/fiscal reform concerns are boosting bond demand.  While we're still nowhere near our post election rate lows, at least we're seeing rates trend downward. There's nothing wrong with carefully floating here, unless doing so will cost you sleep.  Of course, the assumption is that your loan officer is available and watching rate markets to advise you if rates reverse their trend lower.  -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     605 Palm Drive, Beverly Hills, CA 90210 with 7 bedrooms, 10 baths, and 
10,734 sq.ft.is listed for sale at $17,900,000

605 N Palm Dr, Beverly Hills, CA 90210

New Construction in Prime Beverly Hills Flats. "Casa California" a glamorous Spanish Revival Villa. Rooted in authentic  Spanish colonial design but with state-of-the-art modern amenities. Bright and airy with high ceilings and open public rooms. European White Oak floors throughout. Expansive entertaining spaces including an elegant living room and oversized formal dining room. Gorgeous gourmet kitchen opens to family room and grounds beyond. Sweeping staircase with intricate wrought iron design. Master suite with lavish bath in book-matched Snowfall Calacatta Marble. One of the few houses in Beverly Hills with extensive day lit lower level. Featuring a game room w/ bar, massive movie theater w/ 110" screen, gym w/ wellness center, elevator, 3 car garage, 350 bottle wine cellar, and sumptuous guest suite and staff accommodations.. Savant Home Automation. Gracious living in a most prestigious location. 

605 N Palm Dr, Beverly Hills, CA 90210

605 N Palm Dr, Beverly Hills, CA 90210

605 N Palm Dr, Beverly Hills, CA 90210

605 N Palm Dr, Beverly Hills, CA 90210

605 N Palm Dr, Beverly Hills, CA 90210

605 N Palm Dr, Beverly Hills, CA 90210

605 N Palm Dr, Beverly Hills, CA 90210

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     27410 N 103rd Street, Scottsdale, AZ 85262 with 4 bedrooms, 5 baths, and 6,069 sq.ft.  is listed for sale at $3,875,000.



Stunning Tuscan design with unobstructed golf course and Pinnacle Peak views in Estancia * Floor plan includes 4 ensuites plus a dedicated office * The architectural details provide a cohesive blend of natural field stone with wrought iron, glass and wood materials * The interior details include cantera stone and walnut wood flooring, alder wood cabinetry, granite and stone slab counters, wood beam and tongue and grove ceiling details * The home is sited with the ideal southwest solar orientation to enjoy winter sun * The outdoor living areas include a heated pool and spa, stone fireplace, outdoor kitchen, 2  covered dining patios, professional landscaping and observation deck with fireplace to enjoy sunset & city light views!
























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     1660 Torrey Pines, La Jolla, CA 92037 with 8 bedrooms, 9 baths, and 7,600 sq.ft. is listed for sale at $9,950,000.

1660 Torrey Pines Rd, La Jolla, CA 92037

Spectacular estate with incredible ocean views. This one of a kind home features a beautiful main house with 5 beds, 5.5 baths, and panoramic ocean views. The spacious residence boasts a large kitchen, two living rooms, atrium, and is perfect for entertaining. Continue your guest's stay in the additional 1 bed/1 bath guest suite. Or in the two detached cottages, complete with a full kitchen, living room, 1 bed/1 bath, and ocean views. Private and serene, this property is truly the jewel of La Jolla!

1660 Torrey Pines Rd, La Jolla, CA 92037

1660 Torrey Pines Rd, La Jolla, CA 92037

1660 Torrey Pines Rd, La Jolla, CA 92037

1660 Torrey Pines Rd, La Jolla, CA 92037

1660 Torrey Pines Rd, La Jolla, CA 92037

1660 Torrey Pines Rd, La Jolla, CA 92037

1660 Torrey Pines Rd, La Jolla, CA 92037

1660 Torrey Pines Rd, La Jolla, CA 92037

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     2121 Webster Street  #605, San Francisco-Pacific Heights, CA 94115 with 
3 bedrooms, 3 baths, and 2,145 sq.ft. is listed for sale at $4,895,000.

2121 Webster St Apt 605, San Francisco, CA 94115

A  nine-story jewel box building designed by Handel Architects, The Pacific brings modern amenities to a boutique collection of 76 pristine residences in the city's most precious enclave. Each residence combines sophisticated charm with polished details. Destined for elegance from its inception, the original building presented a rare opportunity to build in Pacific Heights while providing a perfect framework for soaring ceilings, generous square footage and gracious floor-to-ceiling windows. Outfitting each residence with modern finishes and features equal in quality to those in the finest of the neighboring Gold Coast mansions adds a level of refinement that places The Pacific in a class of its own.

2121 Webster St Apt 605, San Francisco, CA 94115

2121 Webster St Apt 605, San Francisco, CA 94115

2121 Webster St Apt 605, San Francisco, CA 94115

2121 Webster St Apt 605, San Francisco, CA 94115

2121 Webster St Apt 605, 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     8740 NE 2nd Place, Medina, WA 98039 with 3 bedrooms,3 baths, and 3980 sq.ft. is listed for sale at $3,000,000.



Soaring window walls capture sparkling lake views in beautiful Medina Heights. A fabulous rebuild in '06 created an open concept floor plan with generous, luxurious rooms. Whether it's al fresco dining on the front patio, gathering friends for a BBQ and pickle ball on the sports court, or stargazing on the master deck, this home offers ideal Northwest living. The generous 18,580 sq ft grounds are private and rare. Easy access to neighborhood parks and fantastic proximity to Bellevue and Seattle.








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