Monday, March 6, 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     333 Beaver Dam Road, Vail, CO 81657 with 5 bedrooms, 10 baths, 
and 11,007 sq.ft. is listed for sale at $34,000,000.

Rare and exciting opportunity to own one of the finest homes ever built in Vail Village. A masterpiece of architectural and interior design, the residence is situated off the banks of Gore Creek. Nestled on one of the largest sites in this neighborhood affording privacy and serenity. Mountain contemporary design of voluminous spaces, massive glass and stone-clad features. Exterior is a combination of oak siding with copper/black-zinc panels and limestone.














Today's Top Real Estate News

What New Homeowners Regret The Most

By CNBC
Some homeowners aren't breaking out the champagne after they've closed on their new home purchase.

Nearly half of the homeowners in a recent NerdWallet survey said that they would take a different approach toward buying if they were going through the process again.

The personal finance website polled 2,241 adults in January.

"One thing I'd advise — and no buyer really follows it — is to shop around and do more research not just for your loan but for the home," said Tim Manni, who covers mortgages at NerdWallet.

Younger homeowners — millennials and Gen Xers — expressed the most buyer's remorse after closing on a new dwelling.

About 3 in 5 of these participants said they had regrets throughout the shopping and mortgage process. What they lament the most is that they should have saved more money before buying and that they should have shopped around for a mortgage.

The difficulty of saving

A fifth of all the participants said they wished they had more in savings before buying. Nearly 3 in 10 millennials echoed that sentiment.

As housing prices continue to rise, prospective buyers have a harder time finding the necessary cash for a 20 percent down payment — the amount you'll need to avoid the additional cost of private mortgage insurance.

The median listing price of a home in the U.S. is now $234,900, up 4.4 percent year over year, according to Zillow. Now that the spring homebuying season has kicked off, high demand and skyrocketing prices are leading to aggressive bidding among prospective buyers.

It doesn't help that some markets are extremely competitive. A recent study from Bankrate ranked California as the toughest state for first-time homebuyers, citing limited inventory and lack of affordability.

The median price of a home listed in the Golden State is now $460,844, according to Zillow.
Banks, including Wells Fargo, have launched mortgage programs that will make loans available to first-time buyers with as little as 3 percent down — provided these borrowers have strong income and attractive credit profiles.

Federal Housing Administration loans also allow buyers to borrow with as little as 3.5 percent down, but those borrowers will still have to pay mortgage insurance. President Donald Trump recently blocked a mortgage insurance premium cut for FHA borrowers, further raising costs for those buyers.

Don't forget that affordability is largely a function of your cash flow each month: What can you devote to paying down your mortgage?

"Three percent down will get you in the door, but it will make each month a little harder," Manni said.

Housing costs, including taxes, principal, interest and insurance, should not account for more than 28 percent of your gross monthly income. This is known as the front-end ratio.
At the same time, the monthly payment for all of your debts generally should not exceed 36 percent of your gross monthly income. That's the "back-end ratio."

Shop around for your mortgage

More than 4 in 10 of the polled participants who applied for a mortgage felt they weren't aware of all their loan options.

It may seem convenient to go with the loan professional your real estate agent suggests, but Manni suggests that you look at a range of lenders and see what they offer.

"It's your responsibility to ask 'What's my timeline? Do I need a 30-year mortgage? Do I want to avoid adjustable rate mortgages altogether?'" Manni said.

You should also understand the details of the loan recommendations your lender will put together.

For instance, some banks offer a "no PMI" mortgage, which allows you to put down less than 20 percent of the purchase price without the additional cost of mortgage insurance, Manni said. But you're paying for that convenience in the form of a higher interest rate.
Something else worth asking as you do your research: Are there mortgage points? Points can lower your interest rate, which will cut your monthly payments. And, you may be able todeduct them on your taxes.

"We'll see rates go up, so it might be worth paying the points," Manni said. "That's the crux of the issue: People wish to save more. Do you put it toward your down payment or toward your points?
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       205 S 2nd Anita Avenue, Brentwood, CA 90049  with 5 bedrooms, 6 baths, and 7,820 sq.ft. is listed for sale at $7,500,000

Privately gated Italian Villa estate on cul-de-sac, approx 7800 sf PLUS undeveloped approx 2500sf basement - could be home theater/gym/indoor pool - potential total 10,000sf of living space! Romantic tumbled stone courtyard entry into Grand foyer with beautiful stone floors & stairway. Gracious living space: formal 2-story LR with dramatic coffered ceiling, mantled FP; formal DR; sep FR boasts new hardwood floors, mantled FP, large balcony overlooking incredibly private yard, lush landscaping, new syn lawns; oversized kitchen w/custom copper hood, granite counters, huge center island, 2 dishwashers & ovens, Viking 6 burner stove & grill; restaurant style wet bar w/private cigar; lower level feat tremendous bonus room (office/library/gym/studio) & full BR suite. Upper level master BR suite, 2 walk-ins, dual vanities, sunken spa tub, steam shower; 3 more BRs up with en-suite full baths; 3 car gar plus room for 6+ cars behind gates, with large roof top deck. Great schools & location!

205 S 2nd Anita Avenue, Los Angeles, CA

205 S 2nd Anita Avenue, Los Angeles, CA

205 S 2nd Anita Avenue, Los Angeles, CA

205 S 2nd Anita Avenue, Los Angeles, CA

205 S 2nd Anita Avenue, Los Angeles, CA

205 S 2nd Anita Avenue, Los Angeles, CA

205 S 2nd Anita Avenue, Los Angeles, CA

205 S 2nd Anita Avenue, Los Angeles, CA


205 S 2nd Anita Avenue, 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

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     7407 N 71st Place, Paradise Valley, AZ 85253 with 5 bedrooms, 6 baths, and 5,100 sq.ft. is listed for sale at $2,490,000.

You Have Arrived! This exquisite and fully remodeled masterpiece in prestigious gated Cheney Place offers impeccable design elements by Schick Design Group, bright interiors, a functional floor plan, and top of the line amenities and finishes inside and out. Sitting on 1.04 Acres on a private cul-de-sac, this estate boasts 5 bedrooms, an office will full bath, 6 bathrooms, formal living and dining rooms, and a functional open floor plan surrounded by lush, mature landscaping. Incredibly equipped Island kitchen includes granite counters, soft closing cabinetry, a Viking Appliance package and opens to a generous family room w/soaring 16 ft ceilings, fireplace, wet bar & wine cellar. The owner's retreat comes complete with fireplace, a spa bath including walkthrough shower










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     5915 Camino De La Costa, La Jolla 92037 with 6 bedrooms, 6 baths, 
and 4,965 sq.ft. is listed for sale at $6,975,000.

Newly remodeled, ocean-view Spanish contemporary features inspired lux design, indoors and out. The almost 5,000-SF home offers multi-level view living with 5 en-suite bedrooms, 3 fireplaces, and private balconies. With stunning hardwoods, travertine, granite and stone throughout, the home is filled with exceptional design appointments. Glide through stunning French doors to unwind in the private backyard with expansive patio, built-in outdoor kitchen, gleaming pool and multiple entertaining spaces.

5915 Camino De La Costa, La Jolla, CA 92037


5915 Camino De La Costa, La Jolla, CA 92037

5915 Camino De La Costa, La Jolla, CA 92037

5915 Camino De La Costa, La Jolla, CA 92037

5915 Camino De La Costa, La Jolla, CA 92037

5915 Camino De La Costa, La Jolla, CA 92037

5915 Camino De La Costa, 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     455 27th Street, San Francisco-Noe Valley, CA 94131 with 4 bedrooms, 4 baths, and 3,353 sq.ft. is listed for sale at $4,299,000.

Sophisticated and chic with breathtaking bay views, this home's interior, as profiled in the NYTimes, marries contemporary design, luxury finishes and hand crafted wood elements unlike any other, a true work of art. As one enters you are immediately struck by the ingenious use of wood grills that visually connect the living and dining with the state of the art kitchen and family room overlooking the garden. The 4 bdrms include a master suite with wall of custom closets and cabinets in beautiful blended woods. The lower level exercise studio adjoins a bedroom opening to the delightful garden-with swing set, recessed trampoline, ipe deck and waterproof tv/monitor for movie nights. Topping all is a view roof deck with fireplace.

455 27th Street, San Francisco, CA

455 27th Street, San Francisco, CA

455 27th Street, San Francisco, CA

455 27th Street, San Francisco, CA

455 27th Street, San Francisco, CA

455 27th Street, San Francisco, CA

455 27th Street, San Francisco, CA

455 27th Street, San Francisco, CA

455 27th Street, San Francisco, 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     8457 NE 7th Street, Medina, WA 98039 with 6 bedrooms, 6 baths,and 6,283 sq.ft.is listed for sale at $4,898,000.

Landmark contemporary delivers unmatched privacy, luxurious amenities & world-class architecture in prime location. Own & experience a home that delights every day. Comprehensive 2015 renovation by Adam Leland designed to meet the requirements of the most discerning homeowner. Superb quality evident throughout - with exquisite finishes, artisan details & state-of-the-art technology defining light-flooded, magazine-worthy interiors. The rare home thats more than the sum of its parts.

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

8457 Ne 7th St, Medina, WA 98039

Today's Mortgage Rates                                                                           52 Week 

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.24%4.25%-0.013.34%4.38%
15 Yr FRM3.44%3.45%-0.012.69%3.58%
FHA 30 Year Fixed3.85%3.85%--3.15%4.10%
Jumbo 30 Year Fixed4.38%4.39%-0.013.42%4.40%
5/1 Yr ARM3.08%3.10%-0.022.80%3.25%
Updated: 3/6/17 5:18 PM

Mortgage Rate Losing Streak Pauses
Mar 6 2017, 5:19PM


After moving higher for 5 days in a row, mortgage rates finally moved a bit lower today.  

The improvement was fairly small, however, merely undoing Friday's modest move higher.  
Bonds markets (which dictate rates) continue to price in extremely high chances of a Fed rate hike next week.  That wasn't entirely the case before the recent 5-day losing streak.  In fact, the odds of a Fed rate hike more than doubled last week based on market metrics.  
This doesn't mean the Fed was half as likely to hike 2 weeks ago.  Rather, it has more to do with the fact that financial markets had been sort of complacent about adjusting bond prices to reflect the probability.  Complacency ended early last week and bond yields (and thus "rates") quickly adjusted to their new, higher reality).

In other words, the past week was more than just a random move inside a narrow range for mortgage rates.  It was a legitimate repricing of expectations.  It would take something very compelling to push rates significantly lower between now and next Wednesday's Fed announcement.  This could come in the form of shockingly bad employment numbers on Friday or massive geopolitical drama, but until it happens, it's safer to remain defensive with respect to locking and floating. Inclined floaters should understand there's not a huge payout if rates manage to improve this week.

Loan Originator Perspective


Bond markets were basically flat today, which is refreshing after last week's sell-off.  My pricing was marginally worse than Friday's, but the difference was slight at most.  We're hanging near the top of recent ranges, may be worth waiting to see if we bounce back down over the next few days.  Friday brings February NFP Jobs Situation Report, but no Fed speak this week ahead of next week's meeting.  There's limited benefit in floating here, but (at least for a day or two) it may be worth the limited risk. -Ted Rood, Senior Originator

I like that bonds are lower today than the worse levels from Friday.  Could a bounce be in play to take us back to the lows or last week?  Possibly, but the payroll data due later this week and a Fed rate hike coming next week, not so sure this is much to gain.  Only loans I would float overnight are those that you would have to lock on a longer period today versus a shorter lock period tomorrow.  Other than that, nothing wrong with locking here. -Victor Burek, Churchill Mortgage

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).


California REALTORS® call on HUD and new Administration to make reinstatement of FHA insurance premium cut a priority
 
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) has issued the following statement in response to the announcement by the U.S. Department of Housing and Urban Development (HUD) that the Federal Housing Administration (FHA) will indefinitely suspend a recently announced cut in its annual mortgage insurance premium.
 
“We hope HUD and the Trump administration will make it a priority to quickly review the reduction in the FHA mortgage insurance premium,” said C.A.R. President Geoff McIntosh. “Homebuyers in California, who would have saved an average of $860 a year, will be negatively impacted more than any other state by the decision to not reduce the FHA premium.
 
“FHA’s single-family home portfolio is financially sound as it has ever been, and we hope that once the new Administration has thoroughly reviewed the merits of the premium reduction the suspension will immediately be lifted,” said McIntosh.

C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® (NAR) both have long advocated for lower FHA mortgage insurance premiums and will continue to make the case to reinstate the cut. 

      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