Thursday, March 30, 2017

Today's Best Mansion 

Mansions: They’re lavish. They’re huge. They're grand. They're expensive.

#1    1000 Hilltop, Carpinteria, CA 93013 with 4 bedrooms, 7 baths, and over 7,000 sq.ft. is listed for sale at $24,000,000

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Perched high in the foothills of the Santa Ynez Mountains and surrounded by the peaceful sylvan setting that is Toro Canyon Park, this incomparable 40+/- acre estate seems a world away yet is mere minutes from all the wonderful amenities of nearby Montecito and Santa Barbara. The main residence, its 2-bedroom guest house and multi-room cabaa were designed by award-winning architect Andy Neumann, and constructed to exacting detail and with use of the finest custom materials by master builders and craftspeople. A stunning example of Modernism, the structures combine functional minimalism with expanses of retractable and Vitrosca Invisible Wall glass; focusing attention on the surrounding natural spectacle. The dramatic walls of glass along with walnut floors and cabinetry, and freestanding walls of precisely cut native sandstone deliver instant notice that this is a very special home. 

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Today's Top LA Luxury Estate 


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     32013 Point Place, Laguna Beach, CA 92651 with 4 bedrooms, 4 baths and 
5,200 sq.ft. is listed for sale at $14,900,000.


The floating glass house designed by famed architect Paul McClean is a visual masterpiece set upon one of the most awe-inspiring settings in Laguna Beach. Privately perched on the bluff's edge with a premium northwest coastal facing orientation, take in the vibrant sunsets and city light views up to Palos Verdes. Masterfully constructed of glass and steel with tiers of 'floating' levels gives an ocean view from every room and the sense that you are hovering upon the water. An extremely unique three car garage with an auto-lift lowers your prized vehicle into the entry gallery to become one with the art. The underground gallery walk takes you to the main home where soaring glass double doors guide into your modern sanctuary. A haven for technology, the property integrates with Elan, a whole-home command center from your mobile device as well as various voice driven features from Alexa. Simply ask Amazon's virtual concierge to control lighting, music, etc., and your wish is her command. Additionally, alter the chromotherapy LED lighting throughout the home to your choice of mood. A lower tiered media room acts as a great place to gather. Simply draw the remote-driven shades retract the large format screen and a proper theater is born. Sliding walls of glass surround the home and give way to expansive terrace spaces to relax or entertain while hearing the waves crash below. A private walk adjacent to the home gives access to Thousand Steps Beach. 












Today's Top Phoenix Luxury Estate  

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
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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. Carfree 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 home values have gone up 2.8% over the past year. Zillow predicts they will rise 1.6% within the next year.  

#1     2558 E La Serena Drive, Flagstaff, AZ 86005 with 5 bedrooms, 6 baths, and 
7,315 sq.ft. is listed for sale at $4,495,000.

 
When it comes to one-of-a-kind mountain luxury, the decadence is definitely in the details for Pine Canyon's newest resale listing. The 7,315-square-foot, three-story custom estate is laden with intricate, hand-crafted design that folds together stone, iron and wood in ways that feel at-once contemporary and authentically rustic.



2558 E La Serena Drive, Flagstaff, AZ




2558 E La Serena Drive, Flagstaff, AZ


2558 E La Serena Drive, Flagstaff, AZ



Today's Top San Diego Luxury Estate 



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     6402 Primero Izquierdo, Rancho Santa Fe, CA 92067 with 9 bedrooms, 10 baths, and 12,975 sq.ft. is listed for sale at $6,995,000.


Embrace the essence of luxury living. Located in one of the most prestigious gated communities in Southern California, Rancho Del Lago, this magnificent estate provides the highest level of opulence. As you pull through the private massive gates, senses are heightened as you approach the custom manor with feelings of excitement. Quality is abundant throughout including distressed walnut flooring, French Traditions cabinetry, commercial grade appliances, and multiple edge granite detailing.







Today's Top San Francisco Luxury Estate 

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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     450 Mountain Home Road, Woodside, CA 94062 with 6 bedrooms, 8 baths, and 10,326 sq.ft. is listed for sale at $24,500,000.



One of Woodside's finest properties with expansive views of the western hills. French farmhouse completed in 2005 on 3 beautifully landscaped acres featured in Garden Design Magazine and the esteemed American Garden Conservancy's California garden tours. Towering ceilings, modern custom lighting, hardwood floors, and Venetian plaster walls. 6-bedroom main residence and self-sufficient 2-bedroom guesthouse, plus barn currently used as an art studio. Library, playroom, theatre, gym, and wine cellar. Magnificent country setting has stonewall fountains, tucked away lap pool and spa, numerous terraces with fireplace, fire pit, and barbecue center, custom chicken coop, vegetable garden, roses, and fruit trees. Well for irrigation. Acclaimed Woodside School. The best of California living on Woodside's most prestigious scenic corridor. 






















Today's Top Seattle Luxury Estate 


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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     10608 Marine View Drive, Mukilteo, WA 98275 with 5 bedrooms, 6 baths, and 9,163 sq.ft. is listed for sale at $6,499,950



Beautiful waterfront custom designed private gated estate. Brick colonial timeless design. 9,100 sq ft plus two story with basement. Grand entry, cathedral ceiling, floor to ceiling windows, unobstructed spectacular views from every room in the house. 5 bed, 6.25 bath plus office/den, theater, indoor sport court, exercise room, custom bar, 3000+ bottle wine cellar, and pool. Beautiful sunsets, Island, and Olympic mountain views. Luxurious interior, custom cabinetry and commercial grade appliances.










Today's Top Real Estate News
Second Best Month in 11 Years for Pending Home Sales
By Jann Swanson
Mortgage News Daily

Pending home sales in February surprised everyone with an unexpected jump of 5.5 percent.  The National Association of Realtors® said its Pending Home Sales Index, which is a leading indicator based on signed home purchase contracts, rose to 112.3 in February from 106.4 in January.  The reading is 2.6 percent above a year earlier, and surpassed index readings for every month since May 2006 with the exception of last April.

Lackluster pending home sales in recent months have worried the housing industry, indicating that the spring market might be less successful than hoped.  Analysts had expected pending sales to recover from their 2.8 percent downturn in January, but they undershot the market in their estimates for February.  Those polled by Econoday had been looking for an increase ranging from 1.4 to 3.5 percent, with a consensus of 2.4 percent.

Lawrence Yun, NAR chief economist, says the level of contract activity in February is proof that, with spring on the doorstep, demand is rising "Buyers came back in force last month as a modest, seasonal uptick in listings were enough to fuel an increase in contract signings throughout the country," he said. "The stock market's continued rise and steady hiring in most markets is spurring significant interest in buying, as well as the expectation from some households that delaying their home search may mean paying higher interest rates later this year." Added Yun, "Last month being the warmest February in decades also played a role in kick-starting prospective buyers' house hunt." 

Yun says the tight inventory will continue to play a role in the spring market.  He expects to see "continued ebbs and flows in activity as new supply struggles to replace listings that are going under contract at a very quick pace. This is especially the case at the lower- and mid-market price ranges, where choices are minimal and prices are being bid higher by multiple offers," he said.

He continued, "The homes most buyers are in the market for are unfortunately the most difficult to find and ultimately buy. The country's healthy labor market is translating to greater job security, but affordability is not improving because home prices in some areas are still outpacing incomes by three times or more because of tight supply. 
How much new and existing inventory there is on the market this spring will determine if sales can reach their full potential and finally start reversing the nation's low homeownership rate."  

Existing-home sales are forecast to be around 5.57 million this year, an increase of 2.3 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 4 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

Contract sales were up in every part of the country. The PHSI in the Northeast rose 3.4 percent to 102.1 in February, putting it 6.6 percent higher than a year earlier. In the Midwest, the index jumped 11.4 percent to 110.8, although it is still 0.6 percent lower than the previous February.

Pending home sales in the South climbed 4.3 percent to an index of 127.8, 4.2 percent above the same period in 2016.  The West's number increased 3.1 percent in February to 97.5, 0.2 percent higher than a year ago.
   

Today's Mortgage Rates

52 Week
ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.21%4.21%--3.34%4.39%
15 Yr FRM3.42%3.42%--2.69%3.61%
FHA 30 Year Fixed3.85%3.80%+0.053.15%4.10%
Jumbo 30 Year Fixed4.43%4.42%+0.013.42%4.60%
5/1 Yr ARM3.12%3.10%+0.022.80%3.25%

Mortgage Rates Steady, Depending on Lender


Mar 29 2017, 2:00PM


Compared to yesterday, today's mortgage rates are a moving target depending on the lender.  Some are better.  Some are worse.  On average, rates are unchanged from yesterday's latest rate sheets.  The variability has to do with yesterday's fairly sharp losses in bond markets (which dictate rates).  

Lenders respond to that type of weakness in different ways.  Some of them adjusted rate sheets aggressively yesterday.  Those lenders are less likely to be showing higher rates today (because they already accounted for the market movement yesterday).
Other lenders ended the day yesterday without fully adjusting their rate sheets to reflect the losses.  Those lenders are more likely to be showing higher rates today.
4.25% remains the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios. 

Loan Originator Perspective


Bonds bounced back today, recouping the lion's share of yesterday's losses.  Treasury yields are establishing a range from 2.38% to 2.42%, and are now approaching the bottom of that range.  I don't know where we go from here, but glad we halted the sell-off in a day. Since we're near treasuries' recent low yields, floating borrowers need to be careful here. Remember, pigs get fat, but hogs get slaughtered! -Ted Rood, Senior Originator

Today's Best-Execution Rates

  • 30YR FIXED - 4.25%
  • FHA/VA - 3.75-4.25%
  • 15 YEAR FIXED - 3.5-3.625%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender

Ongoing Lock/Float Considerations

  • 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
  • Still, it would take something very big and unexpected for rates to make a big, sustained push back toward pre-election levels.   Even then, it would take time to confirm such a shift.
     
  • With fiscal and monetary policy paths both clearly putting pressure on rates, at least one of those would need to make a noticeable change before anything but a cautious, lock-biased approach makes sense as a baseline strategy.  Floating should only be considered as a tactical opportunity to capitalize on temporary corrections.
     
  • Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders.  The rates generally assume little-to-no origination or discount except as noted when applicable.  Rates appearing on this page are "effective rates" that take day-to-day changes in upfront costs into consideration.
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!

Cordially,

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