Saturday, April 8, 2017

Today's Best Mansion 

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

#1    432 Park Avenue #65B, New York, NY 10022 with 3 bedrooms, 5 baths, and 
4,019 sq.ft. is listed for sale at $32,500,000.


Spacious Retreat In The Clouds.After entering the private vestibule from the elevator, the foyer leads to the grand living and dining space with picture windows looking out over Central Park, the Reservoir and up to the George Washington and Triborough Bridges. Off the living area is a generous chefs kitchen which features a built-in marble countertop overlooking Central Park and the city. The kitchen is replete with Miele appliances including stove, gas cooktop, dishwasher, built-in coffee system, warming drawers, speed oven, dishwasher and wine storage. The library is located off of the foyer and leads to the master suite which features two separate bathrooms outfitted in Italian Statuario marble. Heated floors, a soaking tub and steam shower provide every comfort. The bathrooms are connected with a walk-in closet which accesses the master bedroom on the southwest corner of the building. Views of the Empire State and Chrysler buildings, from all of the bedrooms facing south, frame a visual city landscape. The additional two bedrooms each have en suite marble bathrooms. The residence comes full circle with the bedroom wing connecting to the foyer, powder bathroom and private laundry.










Today's Top LA Luxury Estate 


The median home value in Los Angeles County is $556,300. Los Angeles County home values have gone up 7.-% over the past year, Zillow predicts they will rise 0.8% within the next year.

The median home value in Brentwood, 90049 is $2,493,800. Brentwood home values have gone up 6.8% over the past year.  Zillow predicts they will rise 1.5% within the next year

The median home value in Malibu is $2,887,500.  Malibu home values have gone up 5.7% over the past year.  Zillow predicts they will rise 0.8 % within the year.'
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The median home value in Bel Air, 90077 is $3,283,500. Bel  Air home values have gone up 2.9% over the past year.  Zillow predicts they will remain even 0.0% within the next year.

The median home value in Beverly Hills 90210 is $4,842,000.  Beverly Hills home values have gone up 6.0% over the past year.  Zillow predicts they will rise 0.6% with the next year.

#1     323 Whispering Pines Drive, Arcadia, CA 9100 with 5 bedrooms, 6 baths  
and 7,127 sq.ft. is listed for sale at $6,680,000.



Luxury, Views and Serenity refined in this custom-built Mediterranean-style home. Stepping inside, one immediately senses the breathtaking, open allure of this 5-bedroom, 7-bath home. Starting with the 20-foot cathedral ceiling in the foyer, the artisan-crafted leaded glass doors, generous skylights, and Italian inlaid marble floors will impress all who enter. Off the foyer are the formal living room, subterranean wine cellar, and study. At the end of the hallway is the grand family room with great fireplace and bar area, all open to the breakfast nook and gourmet kitchen. Of course, its hard to keep your eyes inside, with the lush backyard and gorgeous city and mountain panoramic views outside. Upstairs youll discover an elegant sitting room, three bedrooms--all with full bathrooms and walk-in closets, a spacious laundry room with storage areas, and the "tour de force" master bedroom, with its own retreat with fireplace, private balcony, two walk-in closets, and spa-quality bathroom. Come see this masterpiece in the 24-hour guard-gated Whispering Pines Estates: the more you explore, the more you will desire.









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 $416,500. Scottsdale home values have gone up 2.9% over the past year. Zillow predicts they will rise 0.2% withiin the next year. 

The median home value in Carefree is $753,200. Carfree home values have gone up 5.0% over the past year.  Zillow predicts they will rise 1.6% within the next year.  

The median home value in Paradise Valley is $1,603,200.  Paradise home values have gone up 2.5% over the past year. Zillow predicts they will rise 0.3% within the next year. 


#1     8525 E Whisper Rock Trail, Scottsdale, AZ 85266 with 5 bedrooms, 6 baths, and 8,000 sq.ft. is listed for sale at $3,915,000.



Timeless and elegant family estate on 3-acres in WR Estates with protected, south-facing views of Pinnacle Peak * Built by renowned builder Jesse Hill, this property includes 3 bedroom suites, formal and kitchen dining rooms, over-sized great room, an office and theater in the main house  The detached guest house includes an en suite with a full kitchen and living room plus a separate bunkhouse en suite.










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Today's Top San Diego Luxury Estate 


The median home value in San Diego County is $529,200. San Diego County home values have gone up 5.4% over the past year. Zillow predicts they will remain even 0.0% within the next year.

The median home value in La Jolla, 92037 is $1,487,400. La Jolla, 92037 home values have gone up 6.7% over the past year.  Zillow predicts they will rise 0.1% within the next year. 

The median home value in Solana Beach 92075 is $1,262,200. Solana Beach 92075 home values have gone up 4.9% over the past year.  Zillow predicts they will decline - 0.6% within the next year.

The median home value in Del Mar 92014 is $1,684,400 Del Mar home values have gone up 10.1% over the past year.  Zillow predicts they will rise 1.5% within the next year.

The median home value in Rancho Santa Fe is $2,560,100. Rancho Santa Fe home values have declined -4.4% over the past year and Zillow predicts they will decline -3.0% within the next year.

#1     14750 Roxbury Terrace, Rancho Santa Fe, CA 92067 with  6 bedrooms, 9 baths,
and  10,488 sq.ft. is listed for sale at $8,499,995.


Luxury, Views and Serenity refined in this custom-built Mediterranean-style home. Stepping inside, one immediately senses the breathtaking, open allure of this 5-bedroom, 7-bath home. Starting with the 20-foot cathedral ceiling in the foyer, the artisan-crafted leaded glass doors, generous skylights, and Italian inlaid marble floors will impress all who enter. Off the foyer are the formal living room, subterranean wine cellar, and study. At the end of the hallway is the grand family room with great fireplace and bar area, all open to the breakfast nook and gourmet kitchen. Of course, its hard to keep your eyes inside, with the lush backyard and gorgeous city and mountain panoramic views outside. Upstairs youll discover an elegant sitting room, three bedrooms--all with full bathrooms and walk-in closets, a spacious laundry room with storage areas, and the "tour de force" master bedroom, with its own retreat with fireplace, private balcony, two walk-in closets, and spa-quality bathroom. Come see this masterpiece in the 24-hour guard-gated Whispering Pines Estates: the more you explore, the more you will desire 







Today's Top San Francisco Luxury Estate 

Image result for San Francisco skyline pictures

The median home value in San Francisco is $1,145,300. San Francisco home values have gone up 0.0% over the past year.  Zillow predicts they will decrease by - 0.5% within the next year.

The median home value in Sausalito is $1,280,200. Sausalito home values have gone up 4.4% over the past year. Zillow predicts they will rise 0.3% within the next year. 

The median home value in Tiburon is $2,490,300. Tiburon home values have gone up 1.4% over the past year.   Zillow predicts they will rise 0.4% within the next year. 

The median home value in Saratoga is $2,399,200. Saratoga home values have gone up 0.9% over the past year.  Zillow predicts they will rise 0.3% within the next year. 

The median home value in Atherton is $6,271,800. Atherton home values have gone up 6.7% over the past year and Zillow predicts they will rise 1.7% within the next year. 

#1     1870 University Avenue, Palo Alto, CA 94301 with 6 bedrooms, 7 baths, and 9,322 sq.ft. is listed for sale at $16,998,000.



Stunning, Iconic Palo Alto Monterey Colonial Exudes the Classic Style of Architect Gardner Dailey, providing a Private Paradise on 1.8 Acres, One of the Largest Parcels in North Palo Alto. The Entire Interior has been Fully Updated, but Still Honors the Historic Theme, including the Original Tiffany Stained Glass & Colonial Dining Room Walls, as used in the White House. The Interior Includes a Chef's Kitchen, Separate Sous-Chef Area, Superior Master Bedroom Upstairs, Main Master Downstairs, 3 En-Suites, 1 Traditional Bed, 7 Baths, 1 Bed Studio over Garage (Perfect for Au-Pair or Maintenance Manager), 2-Level Wine Cellar, and a Stunning Living & Family Room. The Exterior Contains Mature Oak Trees providing Ample Privacy, Fields of Flowers and Rose Gardens, Fruit Trees, Bocce Court, and Plenty of Parking. This home is perfect for Grand Entertaining, Executive Housing and Functions, Weddings, and/or Much More. This is your Opportunity to own one of the most Historic Properties in Palo Alto. 
















Today's Top Seattle Luxury Estate 


Image result for Seattle

The median home value in Kirkland is $609,700.  Kirkland home values have gone up 13.5% over the past year.  Zillow predicts they will rise 4.0% within the next year.

The median home value in Seattle is $624,700. Seattle home values have gone up 11.4% over the past year. Zillow predicts they will rise 3.8% within the next year.

The median home value in Bellevue is $762,500. Bellevue home values have gone up 12.8% over the past year. Zillow predicts they will rise 3.9% within the next year. 


The median home value in Mercer Island, WA is $1,349,500, Mercer island home values have gone up 12.3% over the past year.  Zillow predicts they will rise 4.1% with the next year.

The median home value in Clyde Hill is $2,275,200. Clyde Hill home values have gone up 11.8% over the past year. Zillow predicts they will rise 3.4% within the next year.

The median home value in Medina is $2,376,600. Medina home values have gone up 10.5% over the past year and Zillow predicts they will rise 3.6% within the next year

#1      6328 170th Place SE, Bellevue, WA 98006 with 6 bedrooms, 5 baths and 
7,370 sq.ft. is listed for sale at $4,398,000.



Experience a revolutionary estate high above the clouds! Sited 1,350 feet above sea level to capture enchanting westerly views of Seattle, Olympic Mountains and Puget Sound. Expertly designed floorplan allows for extended living and features 22 ft. ceilings, exposed walkways and bamboo floors. 6 comfortably proportioned bedrooms, office, home theater and bonus. This tech-savvy oasis is equipped w/ a Control 4 system for lights, security and sound. A unique opportunity that stands out from the rest.















Today's Top Real Estate News

The Rent Is Too Damn High, To The Detriment Of These Communities

By Jack Passy
Market Watch

A new report outlines how little has changed since 1968 when it comes to housing and minorities. The black homeownership rate declined from 2000 to 2010 and fell behind the homeownership rate among Latino households during that time.


For many minority households across the country, the rent really is too damn high. The share of rent-burdened Black and Latino households exceeds 55% in the 100 largest U.S. cities compared to 47% of the overall population, according to a report from real-estate website Trulia that looks at tge state of housing nearly 50 years after the passing of the Fair Housing Act of 1968. Rent-burdened in this case means those households spend more than 30% of their income on rent. And while the share of rent-burdened households nationwide has fallen since 2010, it’s gone up in black and Latino communities.

Regionally, the impediment imposed by rental payments is even more pronounced. In Grand Rapids, Mich., for instance, more than 69% of black renters are rent-burdened. That’s also the case for nearly 67% of Latino renters living in Miami.

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Compounding this issue, homeownership rates among minority households have remained more or less unchanged over the last 50 years. The black homeownership rate, however, actually experienced a decline from 2000 to 2010 and fell behind the homeownership rate among Latino households during that time. “The Great Recession disproportionately impacted black and Latino households as gains in these housing opportunities before 2000 were largely erased in the last 10 years,” Cheryl Young, a senior economist at Trulia, wrote.

Since 1980 the gap between white homeownership rates and black homeownership rates actually widened to 30.6% from 24.1%. And because homeownership is one of the biggest generators of wealth, black and Latino communities have not seen the same growth in net worth as their white counterparts.

The relatively high burden created by rent is one of the many reasons there continues to be a major gap in the homeownership rates between white and minority households. But it’s far from the only issue, said Maurice Jourdain-Earl, managing director at ComplianceTech, a consulting firm and software vendor that specializes in legal and regulatory issues in consumer lending.
“Access to credit is a major, major issue,” Jourdain-Earl said. “Lenders have not been making loans proportionately to people of color.”

That problem is in part a structural one, Jourdain-Earl said, related to how loans are underwritten. As a result, black and Latino homebuyers who do receive a mortgage are more likely to be offered a loan insured by the Federal Housing Administration, even in instances where they could qualify for loans not intended for low-income borrowers. And because FHA loans come with the added expense of mortgage insurance, which is required for the life of the loan, these products can be costlier than other options.


Another issue: affordability. While higher home prices have affected most people across the U.S., the gentrification of urban neighborhoods has had an outsized effect on minority communities. “Neighborhood improvement is largely not to the benefit of people in those neighborhoods,” 

Jourdain-Earl said, noting that many people of color are being “pushed out beyond the suburbs.”

Still, in one major way housing has improved: Segregation has declined. In all but six of the top 100 metropolitan areas nationwide residential segregation between white and black communities went down. And three of those six cities — Rockville, Md., Peabody, Mass., and Honolulu — experienced some of the largest increases in black homeownership, which Trulia suggested could indicate that upper-income African-Americans have formed their own enclaves in these areas.

On the other hand, more increases in Latino-white segregation were noted, which Jourdan-Earl suggested is potentially indicative of recent immigration trends. In recent decades, cities of the Midwest and South have seen an influx of Hispanic immigrants, with many of these families clustering within the specific neighborhoods in these areas. “That’s happening a lot because of the underlying anti-immigrant sentiment, whereas black people in those areas have been there for hundreds of years,” he said.

Segregation was extremely pronounced in cities such as cities in Florida and Texas when the Fair Housing Act was passed, so even a small improvement in some of those areas will be noteworthy. “The segregation is still there,” Jourdain-Earl said. “You can see where the lines of demarcation are. You can see where bank branches may be located versus a payday lender or check casher.”

Today's Mortgage Rates
                                                                                            52 Week
ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.17%4.15%+0.023.34%4.39%
15 Yr FRM3.38%3.37%+0.012.69%3.61%
FHA 30 Year Fixed3.75%3.75%--3.15%4.10%
Jumbo 30 Year Fixed4.39%4.38%+0.013.42%4.60%
5/1 Yr ARM3.13%3.11%+0.022.80%3.25%
Updated: 4/7/17 5:28 PM

Apr 7 2017, 5:40PM
Mortgage rates rose modestly today, compared to yesterday's latest levels.  Compared to the morning's rate sheets however, the rise was sharper, but even then, we're talking about fairly small movement in the bigger picture.  4.125% is still easily the most prevalent conventional 30yr fixed quote for top tier scenarios, with the only change being in the form of slightly higher upfront cost.

It was a volatile day for financial markets with news of air strikes in Syria being the focal point for overnight trading.  Bond markets (which dictate mortgage rates) started the day off in much better shape as a result.  Rates only found more benefit from the big jobs report, which was much weaker than expected.  Weaker economic data tends to motivate bond buying and thus, lower rates.  

All of the rate-friendly developments turned out to be too much of a good thing.  Any trader inclined to buy bonds (which, again, pushes rates lower) had done so shortly after the jobs report came out.   With buyers burnt out, sellers were in the majority.  As such, the rest of the day was resigned to a paradoxical move toward higher rates.

Loan Originator Perspective


Despite the US missile assault on Syria and a tepid March NFP report, bonds sold off this afternoon, and multiple lenders worsened pricing.  When rates rise despite bond friendly data/world events, it's time to pay attention.  Pricing is still near best in a month, and it looks like markets have no desire to improve further.  Locking is the smart play here. -Ted Rood, Senior Originator

Roller coaster day for bonds.   Usually not a fan of locking on a Friday.   However, if your pricing is better today than what you were offered yesterday, I would pull the trigger.  Bonds just do not want to break the current floor. -Victor Burek, Churchill Mortgage

Today's Best-Execution Rates

  • 30YR FIXED - 4.125%
  • FHA/VA - 3.75-4.00%
  • 15 YEAR FIXED - 3.375-3.5%
  • 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