Tuesday, March 7, 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    27500 La Vida Street, Los Altos Hills, CA 94022 with 5 bedrooms, 12 baths, and 22,000 sq.ft. is listed for sale at $88,000,000.

A Tech Entrepreneur's $88 Million Mansion In Los Altos Hills, CA


Resort-like estate in a bucolic setting in Los Altos Hills, one of Silicon Valley's exclusive residential communities. The home is designed for entertaining on a corporate or personal level with indoor and outdoor staging areas for both intimate and large-scale events. Guest suites are built for private comfort, each featuring its own patio and en-suite bath. An indoor swimming pool with a retractable roof provides another entertaining venue, as well as a private getaway with a massage room and sauna.The home features a freestanding office building perfect for board meetings or other business needs. Easy access to San Francisco and San Jose airports make the home a perfect West Coast hub for its owner. San Francisco is reachable by car within an hour and Napa, Monterey and Lake Tahoe are all an easy drive.


















Today's Top Real Estate News
Annual Home Prices Gains Back Below 7%; More Contraction Ahead?
By Jann Swanson
Mortgage News Daily

Home prices measured by CoreLogic's Home Price Index (HPI) for January ended a six-month long pattern of accelerating annual gains. The increases also slowed on a month-over-month basis.


The company said that nationally prices were up 6.9 percent from January 2016 to January 2017.  The HPI had risen by a minimum of 0.1 percent more every month than it had in the preceding month since May, increasing from 5.7 percent that month and posting a 7.2 percent annual gain in December.




Home prices increased from December to January by 0.7 percent. Month-over-month appreciation had been at 1.1 percent for each of the previous six months before slipping to an 0.8 percent gain from November to December. 

"With lean for-sale inventories and low rental vacancy rates, many markets have seen housing prices outpace inflation," said Dr. Frank Nothaft, chief economist for CoreLogic. "Over the 12 months through January of this year, the CoreLogic Home Price Index recorded a 6.9 percent rise in home prices nationally and the CoreLogic Single-Family Rental Index was up 2.7 percent-both rising faster than inflation."

Washington and Oregon again led the states in the magnitude of their annual home price increases, at 10.8 and 10.3 percent respectively.  Colorado however had to share its near perpetual hold on third place with South Dakota; both states saw annual gains of 9.1 percent.  Maine was the only state to see a negative price change, down 1.8 percent.  North Dakota had the smallest increase, 1.0 percent, followed by Wyoming where prices were up 1.1 percent.


CoreLogic is projecting a 4.8 percent rise in its HPI from January 2017 to January 2018 and expects an 01 percent gain from January to February of this year.  It's HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.  Last January CoreLogic's forecast was for an annual appreciation of 5.5 percent in January 2017.  It had predicted there would be a 0.1 percent change from December to January.


"Home prices continue to climb across the nation, and the spring home buying season is shaping up to be one of the strongest in recent memory," said Frank Martell, president and CEO of CoreLogic. "A potent mix of progressive economic recovery, demographics, tight housing stocks and continued low mortgage rates are expected to support this robust market outlook for the foreseeable future. We expect the CoreLogic Home Price Index to rise 4.8 percent nationally over the next 12 months, buoyed by lack of supply and continued high demand." 
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      726 North Maple Drive, Beverly Hills, CA 90210 with 6 bedrooms, 8 baths, 
and 9,141 sq.ft. is listed for sale at $17,495,000.



Nestled comfortably in the flats of Beverly Hills on a double, corner lot, sits the ultimate compound waiting for its next visionary transformation. On one of the most desired streets on almost an acre with a North/South Tennis Court, gardens, pool and guest house, this gated Villa of approximately 9, 000 square feet incorporates all that's needed for an exquisite estate. Grand two-story entry leads to a living room and dining room, recently updated kitchen with perfect flow for entertaining both indoors and outdoors. This home represents a once in a lifetime opportunity to reimagine your dream home and create the ultimate Beverly Hills living experience.



















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     8601 N 59th Place, Paradise Valley, AZ 85253 with 6 bedrooms, 7 baths, and 9,297 sq.ft. is listed for sale at $3,675,000.

8601 N 59TH Place, Paradise Valley, AZ

Elegant one of a kind Candelaria design. This resort style home sits on over 1 acre located in one of the most desirable areas in Paradise Valley. *SELLER FINANCING AVAILABLE* Amazing detail & woodwork throughout. Venetian plaster walls, Touch Screen Crestron technology, 1,000 plus bottle wine cellar & wet bar, media room, multiple cozy courtyards & covered patios, office/ library room, weight room, game room, 4 custom fire places. Chef's kitchen features 3 ovens, 4 dishwashers & opens to great room perfect for entertaining. Luxurious master suite has private court yard, steam shower, his and her closets & private toilet rooms. 5-car air conditioned garage. Resort style backyard features sport court, sparking lap pool, water slide, large hot tub, & a boulder style waterfall.


8601 N 59TH Place, Paradise Valley, AZ

8601 N 59TH Place, Paradise Valley, AZ


8601 N 59TH Place, Paradise Valley, AZ


8601 N 59TH Place, Paradise Valley, AZ

8601 N 59TH Place, Paradise Valley, AZ

8601 N 59TH Place, Paradise Valley, AZ


8601 N 59TH Place, 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     6308 La Valle Platada, Rancho Santa Fe,CA 92067 with 6 bedrooms, 5 baths, and 5,805 sq.ft. is listed for sale at $4,995,000.\



The absolutely best lot on the entire RSF Covenant Golf Course, elevated and private, with panoramic views of three separate holes. Completely rebuilt in 2015, this Mid-century modern 5+BR boasts all new bedrooms and bathrooms, kitchen, appliances, lighting and HVAC system, plus addition of 1,000 sqft outdoor living room with full kitchen and bath overlooking the golf course. Infrared heaters for year-round use with outdoor bar, wood burning fireplace and barbecue














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     32 Lower Crescent Avenue, Sausalito, CA 94965 with 4 bedrooms, 4 baths, and 3,367 sq.ft. is listed for sale at $2,950,000.

32 Lower Crescent Ave, Sausalito, CA 94965

Stylish and sophisticated with phenomenal views from nearly every room, especially the master. Substantially rebuilt maintaining original charm. Gorgeous decks on every level. 4 bedrooms, 3 1/2 baths, chef's kitchen, breakfast nook, formal dining rooms, living room and a huge family room. Public stairway just next door. Easy commute to San Francisco.

32 Lower Crescent Ave, Sausalito, CA 94965

32 Lower Crescent Ave, Sausalito, CA 94965

32 Lower Crescent Ave, Sausalito, CA 94965

32 Lower Crescent Ave, Sausalito, CA 94965

32 Lower Crescent Ave, Sausalito, CA 94965


32 Lower Crescent Ave, Sausalito, CA 94965

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      750 168th Place SE, Bellevue, WA 98008 with 4 bedrooms, 4 baths,
 and 4,300 sq.ft. is listed for sale at $2,000,000.

750 168th Pl Se, Bellevue, WA 98008

Your lodge haven awaits in Bellevues Herons Gate! Situated on over an acre, this custom home feels like Sun Valley with vast views of Lk Samm and Cascades. True post and beam, radiant limestone floors, open concept and views from every window. 2nd Master with a Secret passageway leading you into the fully finished room located above the garage. This home has it all, spacious office with private entrance, light and bright loft, heated garage floors and fenced dog run. Ideal location w/extraordinary privacy.

750 168th Pl Se, Bellevue, WA 98008

750 168th Pl Se, Bellevue, WA 98008

750 168th Pl Se, Bellevue, WA 98008

750 168th Pl Se, Bellevue, WA 98008

750 168th Pl Se, Bellevue, WA 98008


750 168th Pl Se, Bellevue, WA 98008


750 168th Pl Se, Bellevue, WA 98008



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).

      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