Saturday, March 4, 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    100 Stratford, Del Mar, CA 92014 with 5 bedrooms, 9 baths, and 5,976 sq.ft. is listed for sale at $29,000.000.





Newly constructed coastal Mediterranean masterpiece privately situated on the bluff and nestled among the protected beauty of the Torrey Pines State Reserve, with the most amazing views of the Pacific Ocean. Uniquely positioned on the Southern-most waterfront lot in Del Mar, this gated compound offers complete seclusion and privacy that is unmatched anywhere throughout Southern California.
























Today's Top Real Estate News
More Homeowners Cashing in on Their New Housing Wealth
Mar 3 2017, 10:55AM

By Jann Swanson
Mortgage News Daily

Homeowners are opening their favorite piggy bank again — their homes. As home values rise faster than expected, that increased homeowner wealth suddenly more enticing. It's showing up in big remodeling growth and higher profits for retailers like Home Depot  and Lowe's, but it also serves as a warning sign.

Ever since the epic housing crash at the end of the last decade, homeowners have been extremely conservative with their home equity. Even those who had money in their homes kept it there, fearing another downturn in prices. Now, as millions of borrowers come up from underwater on their home loans and many more see their home values jump sizably on paper, borrowing more is back in favor.


Home equity lines of credit, known as HELOCs and often serving as second loans, allow homeowners to pull cash out of their homes when they need it. HELOC volume is now up 21 percent in the past two years, to the highest level since 2008, according to Fitch Ratings. It is still nowhere near its housing boom level, when many people treated their homes like ATMs, but the trajectory is definitely pointing higher.


"The more second liens that people take out, it adds a risk that comes from the rising home prices. The fact that people are leveraging their homes more than before makes things more risky," said Peter McNally, senior analyst at Fitch.


Borrowers are also putting smaller down payments on home loans now, starting with less home equity either to save cash or because they can't afford anything more. To put it in perspective, before the last housing boom, the median down payment was just over 7 percent. It then dropped to 3 percent during the height of the boom, as lenders offered all kinds of "creative" loan products that required little to no down payment.


After the crash, much of that lending became illegal and new rules made low down-payment loans more expensive to produce. As a result, down payments rose back above 7 percent again during the recovery. At the end of 2016, the median down payment had fallen to 6 percent, according to ATTOM Data Solutions, and it appears to be headed lower, as lenders offer more low down-payment products.


One wrench in the run to grab equity is the fact that interest rates are rising. That makes loans more expensive and consequently takes the shine off low down-payment loans, which require added mortgage insurance. The fourth quarter of 2016 brought the first significantly higher mortgage rates in more than three years.


"Rising interest rates did seem to have a chilling effect on homebuyers using financing, as evidenced not only by the drop in purchase loan originations but also a corresponding rise in the share of cash buyers, drop in FHA buyer share and a rise in the average down-payment percentage in the fourth quarter compared to the previous quarter," said Daren Blomquist, vice president at ATTOM.


Homeowners are clearly leaning toward more leverage, but they are doing so in a far different environment than in 2006. Mortgage underwriting is far stricter, especially for home equity loans, and borrowers must prove their ability to repay loans, including all financial documentation. Home equity continues to rise steadily, according to the Federal Reserve Board, and it is still rising faster than borrowers are withdrawing it.


The caution comes amid a growing concern that home prices are overheating. Tight supply, rather than income growth, is pushing prices, and that is not a sustainable scenario. While it is unlikely that home prices will fall nationally, the gains will inevitably shrink, and some of the hottest markets could see sizable retreats, putting pressure once again on the amount of housing wealth
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     5546 Jed Smith Road, Hidden Hills, CA 91302 with 7 bedrooms, 11 baths, 

and 13, 985 sq.ft. is listed for sale at $19,995,000.



The finest home! Your own private resort in Hidden Hills! Where romance, love, & luxury flourish in thepeaceful atmosphere created for the most discerning of elite homeowner. The exquisite interior design is uncompromised on quality & personal comfort for this exclusive 2017 constructed home. The estate's impressive amenities include a state of the art chef's kitchen; an expansive family room; an outdoor covered living room area with a bar-b-que, pizza oven, full bar, refrigerator, & fire place; a dining room; a game room, with a full indoor/outdoor bar equipped with a refrigerator, icemaker, & dishwasher; a movie theater; an elevator; 7 en-suite bedrooms with walk in closets; a master suite & spa bath, with 2 lavatories, 2 walk in closets; steam shower; wet bar with a refrigerator; a temperature controlled wine room; 2 car garages with 11 spaces; a pool with a 6 deep Baja entry with color changing LED lights; a spa; a fire pit; 




























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. Carefree 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 Valley home values have gone up 2.8% over the past year. Zillow predicts they will 1.6% with the next year.  



#1     12686 East Gold Dust Avenue, Scottsdale, AZ 85259 with 4 bedrooms,  

6 baths, and 7,652 sq.ft. is listed for sale at $2,390,000.



A true custom built luxury home by master builder American Tradition. This home could not be built today for the listing price. Old world charm built with an eye on quality. If Kitchens, Master Suites and Backyards are what sells homes this property has it all. Chef's Kitchen with Wolf six burner, wolf double ovens, Sub Zero refrigerator and freezer, 150 sub Zero wine ridge, Butlers Pantry, walk-in pantry, Asko and Fisher Paykel dishwashers, warming drawer and more. Oversized Master Suite with fireplace, sitting area, his and hers closets, steam shower with 3 shower heads, heated floors, stack washer and dryer, and exercise room. Resort backyard with massive custom diving pool with enormous boulders, waterslide, majestic waterfall, private spa/grotto and dedicated pool bath.





















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      1142 La Jolla Rancho, La Jolla, CA 92037 with 5 bedrooms, 6 baths, 
and 5,899 sq.ft. is listed for sale at $3,799,000.



Luxurious home in La Jolla Corona Estates with stunning panoramic ocean views. This one of a kind residence boasts beautiful finishes from floor to ceiling with coastal views surrounding the whole house. Experience seamless indoor/outdoor living with a large patio right off the large family room. Perfect for entertaining with a pool/jacuzzi, outdoor fireplace, bbq area, and large entertainment room. Endless options with room for an office, gym and vast storage areas tucked throughout the house.


















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    1945 Green Street, San Francisco-Pacific Heights, CA 94123 with 5 bedrooms, 
5 baths, and 4,200 sq.ft. is listed for sale at $12,750,000.

 
Ever wonder what 20' high ceilings look like? You will find it hard to replicate a modern trophy home like this. Sprawling Pac Heights at almost 8K square ft on 3 levels. Soaring ceilings and impeccable interplay of light & space throughout. The main level is an entertainer's dream with folding glass doors bookending an open kitchen, dining & living room. There are 4 beds & 3 baths on the next level including an incomparable master suite featuring enormous scale, a luxurious bathroom & a private backyard oasis. The spacious lower level offers flexibility with a guest suite & recreation room. The multi-level roof deck features panoramic views of the bay & city skyline. A two car garage, stunning oak staircase & elevator to all level















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     3722  East John Street, Seattle-Madison Park, WA 98112 with 5 bedrooms, 
5 baths, and 4,620 sq.ft. is listed for sale at $2,995,000



Sun-filled, perfectly stunning home in picturesque and desirable Denny Blaine. Excellent floor plan, scale, finish work ad beautiful windows. Oak floors, living room w/ windows on 

3 sides, sunroom, stately dining room, garden access. Perfect master suite, 3-2nd flr bedrooms. 2 Excellent playrooms, guest suite, storage, mud room. Lush grounds: sweeping lawn surrounded by roses and lavender, graceful cedars, fig tree, plum tree, peach tree, apple tree, and lilacs. A truly beautiful setting.
















Today's Mortgage Rates                                                                           52 Week 
ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.25%4.24%+0.013.34%4.38%
15 Yr FRM3.45%3.44%+0.012.69%3.58%
FHA 30 Year Fixed3.85%3.85%--3.15%4.10%
Jumbo 30 Year Fixed4.39%4.38%+0.013.42%4.40%
5/1 Yr ARM3.10%3.09%+0.012.80%3.25%
Updated: 3/3/17 4:08 P
Mortgage Rates Rise For 5th Straight Day 

Mar 3 2017, 4:08PM

Mortgage rates rose by the smallest amount of the week today, but they rose nonetheless.  That caps a streak of 5 straight days spent moving in an unfriendly direction. 

 The caveat is that we continue to deal with an overall range that is generally very narrow.  Between last week's lows and this week's highs, there's scarcely more than .125% in rate.  And the biggest single-day movement (Wednesday) only saw an effective rate increase of 0.07%.  Each of the remaining days was 0.03% or less.


That big move on Wednesday was due to comments from NY Fed President Dudley on the likelihood of a Fed rate hike in March.  Markets have remained somewhat tuned in to Fed speakers since then, but even when Yellen today confirmed that a March hike was likely, there wasn't much of a response.  Bottom line, financial markets are close to having fully "priced-in" a March rate hike.


That's both good and bad.  The downside (a rapid move higher in rates this week) is out of the way.  On a positive note, because markets are so sure the hike will happen, the upside is that there's a smaller list of things that could hurt us in the near future.  Still, the list isn't empty.  Next week brings the important jobs report on Friday and several economic reports throughout the week.  Rates are near the upper limit of their recent range and there's still a risk they could attempt to break out of that range in the run up to the Fed meeting on March 15th.


Loan Originator Perspective


Bond markets sold off slightly today, as Chairwoman Yellen confirmed what Fed officials have been stating all week:  economic conditions are strengthening, and Fed is likely to raise its overnight rate more than once this year.  Fortunately, this news was already priced into markets, otherwise pricing would have suffered more.  We're near the upper end of recent rate ranges, the $20 question is whether we bounce down or up from here.  Given that rates are at the highest level since end of December, I'm playing defensively.  Floating could yield better pricing, but only if our upward trend breaks.  For now, I don't see that happening. -Ted Rood, Senior Originator


Today's Best-Execution Rates

  • 30YR FIXED - 4.25%
  • FHA/VA - 3.75-4.25%
  • 15 YEAR FIXED - 3.375-3.5%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender

Ongoing Lock/Float Considerations

  • Rates had been trending higher since hitting all-time lows in early July, and exploded higher following the presidential election
  • 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
  • With the incoming administration's policies driving a large portion of upward rate momentum, mortgage rates will be hard-pressed to return to pre-election levels until well after Trump takes office.  Rates can move for other reasons, but it would take something big and unexpected for rates to get back to pre-election levels.
     
  • We'd need to see a sustained push back toward lower rates (something that lasts more than 3 days) before anything less than a cautious, lock-biased approach makes sense for all but the most risk-tolerant borrowers.
     
  • As always, please keep in mind that the rates discussed generally refer to what we've termed 'best-execution(that is, the most frequently quoted, conforming, conventional 30yr fixed rate for top tier borrowers, based not only on the outright price, but also 'bang-for-the-buck.'  Generally speaking, our best-execution rate tends to connote no origination or discount points--though this can vary--and tends to predict Freddie Mac's weekly survey with high accuracy.  It's safe to assume that our best-ex rate is the more timely and accurate of the two due to Freddie's once-a-week polling method).
    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!

    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