Saturday, April 1, 2017

Today's Best Mansion 

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

#1     8901 Arvida Lane, Coral Gables, FL 33156 with 6 bedrooms, 12 baths, and 
12,930 sq.ft. is listed for sale at $45,000,000.    

 


Exquisite water front Mediterranean villa located in the exclusive Gables Estates. This beautiful home is situated on 2.38 acres on pristine manicured grounds with exotic landscaping a gorgeous long Easterly view of the water way, and no bridges to Biscayne Bay. Designed by renowned architect Rafael Portyondo, the spectacular style features six bedrooms, nine bathrooms, three half bathrooms, as well as a separate guest villa with full amenities including a private courtyard.



..





               .  .










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     6525 Point Lechuza Drive, Malibu, CA 90265 with 4 bedrooms, 4 baths, and 
4,000 est.sq.ft. is listed for sale at $11,995,000.

 

The LaFetra Beach House, Pierre Koenig's last built project, is an irreplaceable architectural marvel 11-years in the making. The magnificent location, a Cyprus studded cliff top that juts out toward the Pacific at the tip of Broad Beach, feels as much like Carmel as Malibu. This oceanfront setting is ideal for the modern steel-frame masterpiece, where walls of glass welcome the sight and sound of rolling waves to create a private, breathtaking sanctuary. Environmentally conscious materials of the highest quality are joined with expert detailing to conceive this minimalist's haven, which is complete with solar power, radiant heat floors, large ocean front decks, a dipping pool/spa, and retractable beach stairs. Gated and at the end of a private cul-de-sac within a short drive from two private service airports, this is an exceptional lock and go retreat for the most discerning jet setter.










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
.
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    8625 N Morning Glory Road, Paradise Valley, AZ 85263 with 6 bedrooms, 6 baths, and 7,034 sq.ft. is listed for sale at $2,395,000

 

Spanish Colonial luxury estate on an oversized, privately gated, corner lot. Professionally decorated throughout, the home features two true master suites. The main level master suite is nearly 1400 square feet and features massive his and her walk-in closets. Extensive use of stone and wood finishes throughout the home result in a comfortable and luxurious living space. The gourmet kitchen is equipped with a DCS 6 burner, double oven gas range, electric oven/microwave unit and a Sub Zero refrigerator. The bar includes its own microwave, dual drawer dishwasher, refrigerator and freezer drawers including icemaker. This is a fabulous family home with over 1100 square feet of patio and a huge, private back yard for entertaining.









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   913 1st Street, Coronado, CA 92118 with 4 bedrooms, 5 baths, and 3,750 sq.ft. 
is listed for sale $6,499,000.



Stunning Bay and 180' panorama views of the Skyline of San Diego and a private bayfront beach make this home truly special! Situated in a premier location on Coronado's prestigious 1st Street, this home features approx. 3,700 square feet including 4 spacious bedrooms and 4 1/2 baths. Sit back and relax on any of the outdoor spaces as you enjoy the morning sunrise and sailboats that cruise by this spectacular property! Truly the best Coronado has to offer.








Today's Top San Francisco Luxury Estate 

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     1079 Hedgeside Avenue, Napa, CA 94558 with 5 bedrooms, 6 baths, and 
5,359 sq.ft. is listed for sale at $7,500,000.



Beautifully constructed farmhouse estate in Napa Valley with 5,809 square feet of living area surrounded by meticulously maintained vineyards, Milliken Creek, and mature oak trees. The property is conveniently located proximate to Silverado Country Club, Downtown Napa, and local retail amenities. Enjoy a rural and private setting close to top, award-wining wineries and restaurants, with a scenic, one-hour drive from the Golden Gate Bridge.


















Today's Top Seattle Luxury Estate 


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    5440 156th Avenue SE, Bellevue, WA 98006 with 4 bedrooms, 4 baths, and 4,730 sq.ft. is listed for sale at $1,975,000. 


The Lodge Grandeur is replete w/hi ceilings(hand-painted) in dining rm. Kitch. is comp. w/Viking, Bosch. The interior provides wet bar, 132 bottle wine cooler by Sub Zero and music throughout. The private office is charmed with 19th. Century solid cast iron mantel in Robert Adam style. Enjoy views of majestic Mt. Rainier and incredible sunrises from every room. The entry Porte Cochere, complete with tall solid oak doors. and incredible stone throughout .










Today's Top Real Estate News


Lack of Homes for Sale is a Problem for Sellers, Too

By Alex Starace
Redfin 

Real estate agents are seeing more intense competition and faster sales than last year





Chart2


It might be a seller’s market, but for most people who list their home, getting it sold only marks halfway to the finish line.
Chart1





The greatest challenge for home sellers this year is a lack of homes to choose from when they themselves move, according to a survey this month of more than 800 Redfin real estate agents. Nearly two-thirds said this was an issue they were seeing.

Chart3


“It’s a seller’s market, but the catch is, most sellers need to buy as well,” said Eileen Lorway, a Redfin real estate agent in the Boston area. “This is a conversation I have with many clients at our first meeting. We discuss options like ‘seller to find suitable housing’ contingencies for the sale contract, ‘purchase contingent on sale of current home’ options for the buy offer, rental options, stay-with-family options and bridge loans. Sellers who are buying need to think outside the box a little bit. It’s not easy, but we often do end up closing on sale and purchase on the same day.”

“I also encourage sellers who are also buyers to think about selling first. They should consider temporary rental options, or moving in with relatives after they sell.  Then they will be able to take the time they need to find their dream house, know exactly what they’ll have to work with financially, and won’t end up adding unnecessary contingencies to offers, which will give them a better chance to get the home,” said Lorway.

Stronger Competition and Bidding Wars Highlight Real Estate Season So Far

Most agents reported that the market so far this year is faster and competition is more intense than last year.

Our agents’ sense of the market matches what we found in the most recent Redfin Real-Time Housing Market Tracker, which reported that home were selling eight days faster than this time last year, with nearly 20 percent selling above list price.

Among agents surveyed, 57.2 percent had already been involved in at least one instance of a home receiving 10 or more offers this year. And only 1.8 percent of agents had yet to be involved in a bidding war.

Despite Intense Competition, Buyers Are Having Success With Less than 20 Percent Down

While competition for homes may be fierce, it’s still possible to get a home without putting 20 percent (or more) down, according to Redfin agents.

Half of agents reported that the typical down payment for successful buyers in their market was less than 20 percent, meaning there are other ways to make an offer competitive.
“I’ve had successful negotiations where my clients put down less than 20 percent. Most sellers aren’t really fixated on that as much as on the overall quality of the offer,” said Redfin real estate agent Rano Khudayberdieva, who works in the Chicago suburbs.

“When I work as a listing agent, we try to figure out the buyer’s maximum pre-approval amount. If the offer is a bit below that, how much they put down shouldn’t be an issue. I typically reach out to the lender to find out how confident they are that the loan will be approved. If it’s a lender I know and trust, and they assure me they can approve it quickly, then we consider it a solid offer,” said Khudayberdieva.

“However, there is one caveat; if the price is escalating higher than I think the home can appraise, I advise my seller against accepting an offer with a down payment of 5 percent or less, which indicates the buyer might not be able to come up with additional cash to cover the appraisal deficiency. Generally, though, 10 percent down or more is good. And cover letters do make a difference – you’d rather have a committed buyer who put a little less down than a buyer with 20 percent down who may back out,” said Khudayberdieva.
Building a rapport with the seller can also help, said Redfin real estate agent Tim Zielonka of Chicago.

“I recently had an FHA-backed offer with 3.5 percent down beat out four other offers, each of which had conventional 20-percent down loans. The sellers were at the showing. I introduced them to the buyers and pointed out that both were huge enthusiasts of both vintage bicycles and classic cars, which put them at ease with one another and enabled them to form a natural connection. Had they not discovered this shared interest, my clients may not have gotten the property,” said Zielonka, who added that the offer amount and overall terms were still strong, despite the low down payment.
Today's Mortgage Rates
                                                                                                                                   52 Week
ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.19%4.21%-0.023.34%4.39%
15 Yr FRM3.40%3.42%-0.022.69%3.61%
FHA 30 Year Fixed3.85%3.85%--3.15%4.10%
Jumbo 30 Year Fixed4.43%4.44%-0.013.42%4.60%
5/1 Yr ARM3.10%3.11%-0.012.80%3.25%
Mortgage Rates End Week Little-Change 
Mar 31 2017, 4:59PM



Mortgage rate were unchanged to slightly lower today.  Once again, the actual change you see will depend heavily on the lender in question.  Most are fairly close to yesterday's latest levels but a few are noticeably better or worse.  In general, those who deviated from "unchanged" today, did so in a friendly direction.  This was made possible by steady improvements in bond markets throughout the day, resulting in several lenders updating rate sheets in the middle of the day.

All that having been said, no matter the direction of the movement, it's all been very smallthis week.  Few, if any lenders are actually offering different NOTE rates compared to any other day this week.  When we talk about "rates" moving, it's only in reference to EFFECTIVE rates (which take upfront costs into account).  

4.25% remains the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios. 

Next week brings several big-ticket economic reports, including the important jobs report on Friday.  In addition, the Fed will release the Minutes from its most recent meeting.  This release will be the first time the Fed publishes its forecasts in a new "fan chart" format.  It was the Fed forecasts that helped rates move quickly lower in the middle of March, so if the Fan charts (or any other potential revelation in the Fed Minutes) add a significant amount of information for investors to consider, rates could react quickly.

Loan Originator Perspective


I commented yesterday that treasury yields were near our recent range's (2.38-2.42%) low, and as if on cue, they rose today to 2.42%.  Mortgage pricing worsened slightly, although few lenders repriced during the day.  We're still near the 30 day low for rates, so there's no shame in locking at these levels.  I'd rather pick up a fallen knife than have a falling one pierce my hand.  -Ted Rood, Senior Originator

I continue to favor locking once within 30 days of closing.  Bonds just do not see a reason to break below our current floor in the mid 2.3s on the 10 year treasury note.   Consumers continue to have more to risk than to gain by floating. -Victor Burek, Churchill Mortgage

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