Thursday, March 9, 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     5 Toby Lane, Aspen, CO 81611 with 5 bedrooms, 6 baths, and 19,000 sq.ft. is listed for sale at $27,000,000



Unique Aspen estate. High-quality contemporary located at the top of Toby Lane, a gated private road at the end of South 7th Street. Elegance and timelessness define this high-quality estate on 1.03 acres backed by protected lands. Privacy and country feel yet located inside the roundabout. Polished and rough limestone highlight the exterior and interior. Interior courtyard with BBQ, fountain, fireplace, high ceilings with tremendous art walls. Home theater, gourmet kitchen. Perfect scale, a true home for the ages. Walking distance to fishing, hiking, and downtown or take the free "Downtowner" shuttle. A rare offering














Today's Top Real Estate News

Confidence Surges in National Housing Survey

By Jann Swanson
Mortgage News Daily

The February installment of the National Housing Survey (NHS) might have broken a record for breaking records.  Fannie Mae says its Home Purchase Sentiment Index (HPSI), based on six components of the survey, increased by 5.6 percentage points from both January's level and that of February 2016 to 88.3, an all-time high. Five of the six components were higher than in January and three also set survey records.



Doug Duncan, Fannie Mae's senior vice president and chief economist said, "The latest post-election surge in optimism puts the HPSI at its highest level since its starting point in 2011. Millennials showed especially strong increases in job confidence and income gains, a necessary precursor for increased housing demand from first-time homebuyers. 

Preliminary research results from our team find that millennials are accelerating the rate at which they move out of their parents' homes and form new households. However, continued slow supply growth implies continued strong price appreciation and affordability constraints facing millennials and first-time buyers in many markets."

The HPSI condenses information from the NHS into a single number which Fannie Mae says reflects consumers' current views and forward-looking expectations about housing market conditions. The six questions used to construct the HPSI ask whether consumers think that it is a good or bad time to buy or sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.

The share of survey respondents who view this as a good time to buy a home, one of the components, rebounded by 11 percentage points from January's all-time survey low to a net of 40 percent, while the net share of those who think it is a good time to sell was 22 percent, up 7 percentage points to a new survey high.



The net percentage of those who expect home prices to increase rose 3 points to 45 percent while the amount of increase expected, which is not an index component, stayed level at 3.2 percent after jumping in January from a 2.1 percent expected gain the previous month. The net share of those who think mortgages rates will go down over the next 12 months remained unchanged at -55 percent for the third consecutive month.

Moving on to questions about personal finances, on net, the share of respondents reporting that their household income is significantly higher than it was 12 months ago increased 4 percentage points to 19 percent.  Consumers also demonstrated greater confidence about not losing their jobs, with the net share rising 9 percentage points to 78 percent.  Both of those HPSI components established new survey highs.



Some notable responses to other non-HPSI questions included an increase in respondents who expect rents to rise over the next 12 months, which moved from 54 to 56 percent, although expectations about the magnitude of those rent hikes fell one-half point to 3.8 percent.  Sixty-six percent of respondents indicated they intend to buy the next time they move, up 2 percentage points, and there was increasing confidence on the part of consumers in their ability to obtain a mortgage.  Responses from those who thought they would have an easy time getting financing rose 6 points to 56 percent.

The NHS is conducted monthly among 1,000 consumers, both home owners and renters. They are asked over 100 questions to assess their attitudes toward owning and renting a home, price changes, homeownership distress, and personal financed.  The February survey was conducted between February 1, 2017 and February 21, 2017.
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     460 Castle Place, Beverly Hills, CA 90210 with 3 bedrooms, 4 baths, 
and 3,843 sq.ft. is listed for sale at $6,800,000.  
    

Rare opportunity to purchase a Trousdale Estates development site under $10,000,000. Tucked away on a cul de sac on over a half an acre, this is one of the few remaining lots zoned for a subterranean garage. North West facing views afford dramatic sunsets.


















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      10953 E Tusayan Trail, Scottsdale, AZ 85255 with 5 bedrooms, 6 baths, and 5,235 sq.ft. is listed for sale at $2,195,000.



Number 10953 E Tusayan Trail is one of 11 custom homes located in the prestigious and private gated community of Troon Village. Nestled in the boulders of Troon Mountain with city light views, this stunning home is move-in ready and is waiting for its new owners. This architecturally-designed home is the epitome of grand living where luxury is a must and opulence is essential. From the designer dual fireplace in the living room to the soaring ceilings and even the custom cabinetry in the dressing room, every detail has been carefully considered to create a hillside home like no other. The expansive floorplan features five guest bedrooms, all with ensuite baths and walk-in closets, plus two powder rooms and an office with its own private patio and mountain 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     6111 La Pintura, La Jolla, CA 92037 with 5 bedrooms, 5 baths, and 3,151 sq.ft. 
is listed for sale at $2,495,000.

6111 La Pintura Dr, La Jolla, CA 92037

Serene and charming home with canyon and ocean views. This tri-level beauty on 1 acre is located at the end of a quiet cul-de-sac and offers privacy in a prime location. This spacious home features vaulted ceilings, natural stone floors, large balcony with views, dual masters, gourmet kitchen and ample storage space. The lush backyard opens to a canyon with a large sun deck and a hot tub. This space is perfect for enjoying the outdoors, gardening, or entertaining.

6111 La Pintura Dr, La Jolla, CA 92037

6111 La Pintura Dr, La Jolla, CA 92037

6111 La Pintura Dr, La Jolla, CA 92037

6111 La Pintura Dr, La Jolla, CA 92037

6111 La Pintura Dr, La Jolla, CA 92037

6111 La Pintura Dr, La Jolla, CA 92037

6111 La Pintura Dr, 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     471 S Clark Avenue, Los Altos, CA 94024 with 6 bedrooms, 6 baths, 
and 5,185 sq.ft. is listed for sale at $5,988,000.



Stunning Modern Contemporary Masterpiece, Designed by renowned "Elevation Architects"! Custom Built with High End Components, Workmanship and Professional Appliances. This Extremely Efficient Home was constructed with Numerous Echo Friendly Amenities that will Reduce Your Carbon Footprint and Save on Your Energy Bill! Entertainer's Dream Home with Amazing Chef's Kitchen and Large Wall of Accordion Style Glass Doors for True Indoor Outdoor Living. Outdoor Kitchen, Pool, Separate Cottage, Radiant Floor Heating, 7500W SunPower Solar Array, Buderus Boiler w/Solar HW Integration, Night Breeze Ventilation System, Indoor/Outdoor Audio System with Surround Sound and Surveillance Cameras and Many More Features That Make This Home Absolutely Unique!

471 S Clark Ave, Los Altos, CA 94024

471 S Clark Ave, Los Altos, CA 94024

471 S Clark Ave, Los Altos, CA 94024

471 S Clark Ave, Los Altos, CA 94024

471 S Clark Ave, Los Altos, CA 94024

471 S Clark Ave, Los Altos, CA 94024

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     7626 NE 8th Street, Medina, WA 98039 with 5 bedrooms, 4 baths, and 4,399 sq.ft. is listed for sale at $2,488,000.

7626 NE 8th St, Medina, WA

Fantastic remodeled East Coast traditional in a prime Medina location. Loaded with charm and character throughout. Cooks kitchen w/ chic white cabinetry & glass accents, quartz counters & stainless appliances. Huge master suite w/ newly completed 5 piece master bath. Gleaming hardwood floors throughout the main living areas. Ideal floor plan. Main floor guest suite. Bonus room up a 2nd staircase. Beautifully landscaped level lot. Close to Medina Elementary, The Green Store and Medina Beach.

7626 NE 8th St, Medina, WA

7626 NE 8th St, Medina, WA

7626 NE 8th St, Medina, WA

7626 NE 8th St, Medina, WA

7626 NE 8th St, Medina, WA

7626 NE 8th St, Medina, WA

7626 NE 8th St, Medina, WA


Today's Mortgage Rates                                                                           52 Week 


ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.32%4.25%+0.073.34%4.38%
15 Yr FRM3.55%3.45%+0.102.69%3.58%
FHA 30 Year Fixed3.95%3.85%+0.103.15%4.10%
Jumbo 30 Year Fixed4.50%4.39%+0.113.42%4.50%
5/1 Yr ARM3.14%3.09%+0.052.80%3.25%
Updated: 3/8/17 2:21 PM
Mortgage Rates Spike to 2017 Highs
Mar 8 2017, 4:33PM


Mortgage rates spiked, big-time, today.  Underlying bond markets had already moved higher in rate overnight, but the trend was taken to a new level by an exceptionally strong employment report from ADP.  Although this isn't the big jobs report (we'll get that on Friday), many market participants treat the ADP numbers as one of several advance indicators of Friday's jobs report.  Sometimes it doesn't register a response, but when it beats the forecast by as much as it did today (298k vs 190k), markets can't help but adjust their trajectory ahead of Friday.

The net effect was the sharpest move higher in rates in several months, slightly outpacing last Wednesday's rout.  Moreover, with the exception of a modest improvement on Monday, rates have moved higher every single day since February 27th.  In just over a week, the average conventional 30yr fixed quote is up approximately a quarter of a percent for most lenders.  Stronger lenders are offering 4.25% on top tier scenarios while many moved up to 4.375% with today's weakness.

Loan Originator Perspective


ADP's projection for February job growth blew away expectations, possibly setting the table for a blockbuster NFP report Friday.  Mortgage rates rose (again) on the heels of this bullish economic news, and the recent upward rate trend continues.  I see limited incentive to float here, have some clients who've lost .375% in rate while looking for houses, and that's never fun.  The trend is NOT our friend. -Ted Rood, Senior Originator

Today's Best-Execution Rates

  • 30YR FIXED - 4.25-4.375%
  • FHA/VA - 4.0-4.25%
  • 15 YEAR FIXED - 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). 

Thnks for reading my 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