Wednesday, March 8, 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     366 -376 Gin Ln, Southampton, NY 11968 with 12 bedrooms, 14 baths, and 22,000 sq.ft. is listed for sale at $145,000,000.



Regarded by many as the finest oceanfront estate in all of the Hamptons, the iconic "La Dune," with links to architect Stanford White offers two extraordinary residences on almost four acres, with over 400 ft. of bulkhead beach front, gorgeous hedged lawns, two custom Gunite pools, and sunken all-weather tennis-on Gin Lane. Security gates and hedging open to a wide gravel drive, with the main four-story residence rising majestically from its front parking court. Constructed in the early 1900s, the classic shingle-sided presides over rosa rugosa dunes that slope down to the wide sandy beach. The gathering rooms across the second level open across a series of decks and patios that all take in ocean breezes, and from which one can watch the ceaseless waves. The second, wholly separate guest residence, was built to reflect the design and proportions of the main house.  

Both homes have been designed similarly, from dark polished wood floors, to white interiors with detailed moldings (original in the main house), bead boards, French doors, transom windows, and coffered ceilings. A ground floor, brick-floor entry hall with full bath opens the main residence, and a grand staircase rises to the main level with great room, living room, sun room, formal dining room, morning room, family kitchen with fireplace, and a sitting room with powder room. The main stair, back stair, and elevator service all levels. The third level includes a living room/office with bath, a guest suite, and the master wing with sitting room, two over-sized baths, and large dressing room/closet. The top level includes four bedrooms and three baths. Located back at ground level, are a full service kitchen, gym area, laundry facility, and staff suite. 


The guest residence opens with a long entry hall, off of which are a parlor, great room, and dining room that all open onto a covered deck. Opposite is a library with bath, kitchen, and a  guest/staff wing with powder room and two bedroom suites. The second story features four generous guest suites, and the finished lower level includes a billiards and bar room, a gym with steam, sauna and massage room, a theater, additional staff suites, and a laundry room. Together, both residences have separate service and staff live/work areas: The main residence staff areas are at the ground level, and the guest house staff sections are off a first floor wing and in its lower level. The extensive grounds include a 20'x50'pool with covered pavilions at either end, a similar pool off of the guest house deck, as well as tennis. An attached three-plus vehicle garage is attached to the guest house. 


















Today's Top Real Estate News

Millennials Drive Housing Confidence Higher, Despite Red-Hot Prices

By Diana Olick
CNBC


Real estate agents tour a home for sale during an open house in San Anselmo, Calif.

Real estate agents tour a home for sale during an open house in San Anselmo, Calif.
Both buyers and sellers alike are feeling very good about the housing market this spring, even as home values hit new highs and mortgage rates move up.

A monthly sentiment index from Fannie Mae rose to the highest level since 2011, when the survey began, thanks to a surprising surge from millennials.

"Millennials showed especially strong increases in job confidence and income gains, a necessary precursor for increased housing demand from first-time homebuyers," said Doug Duncan, senior vice president and chief economist at Fannie Mae.

Millennials are moving out of their parents' basements and forming new households at a faster rate, according to Fannie Mae research, but they are still overwhelmingly forced to rent.

"Continued slow supply growth implies continued strong price appreciation and affordability constraints facing millennials and first-time buyers in many markets," Duncan added.
The leading edge of the millennial generation is, however, entering the housing market in larger numbers today, with some venturing out of their desired urban cores to more affordable suburbs. Millennials delayed both marriage and parenthood, but that is now changing.

A real estate agent shows a home to a prospective buyer in Miami.

Nearly half of millennial buyers had at least one child, according to the 2017 Home Buyer and Seller Generational report just released by the National Association of Realtors. That is up from 45 percent last year and 43 percent two years ago. Children are the primary driver of homeownership, which is now sitting near a record low. Just 15 percent of millennial buyers chose an urban area, which is down from 17 percent last year and 21 percent two years ago.

"Millennial buyers, at 85 percent, were the most likely generation to view their home purchase as a good financial investment," said Lawrence Yun, chief economist at the Realtors. "These strong feelings bode well for even greater demand in the future as more millennials settle down and begin raising families."

Those numbers would likely be far stronger if home values were not being forced higher by tight supplies of homes for sale, especially starter homes. Nationally, home values rose 6.9 percent in January year over year, according to CoreLogic. That is far faster than income growth but slightly lower than the annual price appreciation in December — perhaps a sign that the jump in mortgage rates after the presidential election is cutting into prices, even slightly.

"Home prices continue to climb across the nation, and the spring homebuying season is shaping up to be one of the strongest in recent memory," said Frank Martell, 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."

The strongest jump in confidence came from those who say now is a good time to buy a home, but sentiment among sellers also gained, according to Fannie Mae's report.
More Americans are feeling good about employment as well, with fewer expecting to lose their jobs. More are also reporting slightly higher household income, and a growing number expect home values to rise. Those who expect mortgage rates to drop, however, remained unchanged for the third straight month

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      13210 Haney Place, Brentwood, CA 90049 with 5 bedrooms, 9 baths
and 6,863 sq.ft. is listed for sale at $7,399,000.


Impeccable, Built in 2016; a masterful estate sits on a 13,455 square foot lot in Brentwood's famed Polo Fields. Established on a cul de sac, the home boasts expansive green lawns, a magnificent Biarritz style pool, al fresco dining areas, and almost 7,000 sq. ft, 5 bedroom, 9 bathroom home. Enter this open sun drenched home and feel airy and relaxed - everything has been thought of. From the Calcutta marble tops to the wide wood floor paneling the home's Modern Farmhouse feel truly comes to life. State of the art appliances, enormous his and hers master closets and a master spa bath that epitomizes luxury living are just some of endless features. Experience this home today.









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      19338 N 98th Place, Scottsdale, AZ 85255 with 5 bedrooms, 7 baths, and 
6,165 sq.ft. is listed for sale at $2,350,000



One of the best lots in the highly desired arcadia neighborhood of Silverleaf. Stunning 
6,200 sq.ft. home that backs to a protected wash, offering phenomenal privacy and sweeping Arizona sunsets. The nearly half acre lot provides expansive outdoor entertaining options which feature comfortable covered patios with natural stone surfaces, bbq center, fireplace with private patio, large pool and several yard zones. The beautiful interior of this professionally designed and decorated home is loaded with upgrades: designer kitchen appliances, stone and wood flooring, hand carved beams and custom cabinetry throughout. Private guest casita with outdoor entry. The Arcadia neighborhood offers an unparalleled setting featuring 3 different parks and beautiful tree lined streets









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     1640 La Jolla Rancho Road, La Jolla, CA 92037 with 8 bedrooms, 10 baths, and 13,575 sq.ft. is listed for sale at $13,800,000.



On over an acre in the Muirlands neighborhood, this extravagant newer gated estate offers expansive living typical of Rancho Santa Fe with all the benefits of the beach! Built to exacting standards in timeless European style, vast living areas of approximately 13,000sf have been aligned into an easy floor plan for seamless indoor-outdoor luxuries. Enjoy approximately 4,425 square feet of extra living area including indoor-outdoor patio, and garages for your EIGHT collector cars.



















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     6 Cibrian Drive, Tiburon, CA 94920 with 5 bedrooms, 6 baths, and 7,452 sq.ft.
is listed for sale at $5,695,000.

6 Cibrian Dr, Tiburon, CA 94920

Staged and Beautiful! Stunning contemporary estate. Incredible park-like setting with panoramic views of the Bay,bridge&beyond.Grand scale living w/flowing floorplan offering picturesque views from every room,volume ceilings.Separate guest house.Entertainers dream w/indoor-outdoor living at its best.Rec. room opens to sun drenched pool,spa,rolling lawns,flagstone patios.4 car garage w/addtl.parking for 10+cars.Minutes to shopping and commute ferry.

6 Cibrian Dr, Tiburon, CA 94920

6 Cibrian Dr, Tiburon, CA 94920

6 Cibrian Dr, Tiburon, CA 94920

6 Cibrian Dr, Tiburon, CA 94920

6 Cibrian Dr, Tiburon, CA 94920

6 Cibrian Dr, Tiburon, CA 94920

6 Cibrian Dr, Tiburon, CA 94920

6 Cibrian Dr, Tiburon, CA 94920

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     3300 Meridan Avenue #411, Seattle-Green Lake, WA 98103 with 3 bedrooms, 
4 baths, and 2,954 sq.ft. is listed for sale at $2,250,000.



Spectacular home in the sky! Rare opportunity to live in this view home overlooking Lake Union, the Cascades & Olympics, and Seattle at your feet. Huge patio for entertaining. Thoughtfully laid out, gracious floor plan lives large. Flooded with natural light with the southwestern exposure. Best place in town for 4th of July parties! Come see this lovely home overlooking a working waterfront. Watch the world sail, boat, paddleboard and float by on South Lake Union.










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 ARM3.09%3.08%+0.012.80%3.25%
Updated: 3/7/17 3:53 PM
Mortgage Rates Remain Near Recent Highs
Mar 7 2017, 4:59PM

Mortgage rates rose moderately today, keeping them in line with recent highs.  The run to those highs took place largely over the past week as markets quickly adjusted their expectations for a Fed rate hike at next Wednesday's meeting.  As of last Thursday, market-implied probability was about as high as it ever gets.  Similarly, rates haven't moved much from last Thursday.  They were down just slightly on Friday and up by about the same amount today.  

Combine the past few days of limited movement with the bigger-picture post-election range, and there's a sense that we're waiting for a verdict about where we go next.  There have been a few similar instances over the past few months (where rates have been waiting for some big news/event to act as a verdict on the range), but rates have generally approached those events from the CENTER of the range as opposed to the upper edge.  

All of the above makes the next 6 business days scary.  It's ultimately next Wednesday that has the biggest potential to push rates higher or lower, but there's plenty of room for volatility between now and then.  Incentive to float is much lower than it normally is when rates are at the top of a reliable range.

Loan Originator Perspective


I continue to favor locking once within 30 days of funding.  Until next week’s FOMC announcement is released, bonds will have a tough time mounting any meaningful rally.  Even if they do, lenders will be slow to pass along improvements.  So for now, not much to gain by floating but a lot to risk. -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