Thursday, April 27, 2017


Today's Best Mansions: They’re lavish. They’re huge. They're grand. They're expensive

#1     917 North Crescent Drive, Beverly Hills, CA 90210 with 6 bedrooms, 10 baths, and 15,096 sq.ft. is listed for sale at $28,950,000.



"The Essence of Beverly Hills". Immediately adjacent to world famous Beverly Hills Hotel. Walk to The Polo Lounge for breakfast. Renovated in 2015 - French Modern Estate dazzles in high style and state of the art technology. Open floor plan and vast public rooms for entertaining. Main house features formal Living Room with 10 sets of French Doors, paneled Library, lavish formal Dining Room, Gourmet Kitchen imported from Italy, family room and cocktail bar w/ display wine cellar. Luxurious Master Suite offers dual baths overlooking large terrace w/ tree top views. Extravagant walk-in closets fitted in the finest Italian cabinetry. Guest House includes Cinema for 20 guests, Miele equipped concession bar, and spacious gym, staff suite and 4 car garage. Grounds include motor court, porte-cochere, pool with pool house, grill, and black & white marble pool surround. Feel the pulse of the city in an unrivaled Beverly Hills location. Shown only to pre-qualified Buyers. 























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     9066 St. Ives Drive, Los Angeles, CA 90069 with 3 bedrooms, 6 baths, and 5,300 sq.ft. is listed for sale at $19,900,000.

 
"High Octane Modernism" Minutes from Sunset Strip. Major views from West Hollywood to the Pacific Ocean. Walk to Soho House, the highly anticipated Edition Hotel and Sunset Plaza. Renovated in 2016 and designed by Paul McClean. Journey over water through a powerful entrance sequence - down wide steps to a 2 story living room, adjacent dining room, wine cellar and state of the art marble kitchen by SCIC. Public rooms open to massive entertaining areas with panoramic views. Upstairs Master Suite encompasses entire floor with a walk in closet on par with the finest stores on Rodeo Drive. Jetliner views from master bedroom and luxurious master bathroom. A professional screening room, game room w/ bar and wine-station open to the pool and large yard. Savant Home automation. Covered outdoor living room, outdoor kitchen, infinity edge pool and spa complete this most special offering. One of a kind. 











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     15217 N 15th Drive, Phoenix, AZ 85023 with 7 bedrooms, 11 baths, 
and 9,094 sq.ft. is listed for sale at $2,990,000.


Nestled atop Moon Mountain in the exclusive guard gated community of Coral Gables Estates, this impressive home has spectacular views all around! Enter the large, pivoting, glass front door and notice the water feature with colored lighting in the front entrance. The disappearing wall of windows frames the breathtaking view and draws you to the large back covered patio with mesmerizing fire pit! The luring,negative edge pool appears to drop off the side of the mountain! Under the Ramada is a full outdoor kitchen complete with a pizza oven, refrigerators and gas grill! Thedownstairs master bedroom is impressive, with a large sitting room where the wall of windows opens all the way up. The "His and Hers" custom closets/vanities/water closets lead you to the massive slate shower and relaxing, jetted, soaking tub. The large family room is just off of the kitchen as you pass by the bar and temperature controlled wine room. The kitchen is a dream, with stainless steel appliances, including an espresso machine, large marble island, built in refrigerator and large walk in pantry! A huge work out room, office, extra bed/bath and laundry room is all on the main floor, opposite the master. Impressive 4 car garage, tall enough to stack cars if desired.












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     110 5th Street, Encinitas, CA 94024 with 4 bedrooms, 4 baths, and 5,800 sq.ft. 
is listed for sale at $13,888,000.


Oceanfront Paradise! First time on market. Lush .46 acre with 100' of ocean frontage. Enter the grounds through a private gate with mature palms. The estate sits far back from the street. Enjoy ocean views from La Jolla to Dana Point. Master retreat is entire top floor of this house with floor to ceiling windows. All ensuite bedrooms. Multiple covered patios. Huge roof top deck. Extremely private and a short walk to Moonlight beach, shops and restaurants. Outdoor ocean view spa/shower.All bedrooms have walk in closets and ensuite bathrooms. Master bath has a private ocean view deck, floor to ceiling windows, wood Jacuzzi and dual wood sinks, oversized shower and skylights. Koa wood finishes and Saltillo tile floors throughout the house. Incredible views from the 42x20 ft. roof top deck. Bonus rooms are a 18x17 ft. exercise room, and a 21x13 ft. extra space/office off the master bedroom. Koa wood bar and entertainment center. Lots of extra storage and closets. 3 garages spots and a carport with two spaces, plus additional room for parking. Enjoy an approximately 100x38 ft. outdoor backyard with panoramic ocean views and outdoor jacuzzi. Extremely private setting. Estate can not be fully seen from street below. 











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     2 Somerset Lane, Atherton, CA 94027 with 6 bedrooms, 10 baths, 
and 10909 sq.ft. is listed for $19,900,000.



This magnificent property was built for the current owners in 2005 by the Pacific Peninsula Group, with interior design by Bob Miller. Privately situated on a 1.06 acre corner lot in the prestigious Menlo Circus Club area, the main home spans 3 levels, all connected by elevator. 6 en-suite bedrooms, two-story library, tremendous kitchen/family room, recreation room, theatre, music room, fitness center, spa bath, and outstanding wine cellar. Radiant heated limestone or carpeted floors throughout. Attached 3-car garage and large gated motor court. The formal resort-llke grounds feature a 1-bedroom/1 bath guest house with full kitchen, pool and spa, barbecue kitchen, fire pit terrace, playground, arbor-covered dining pavilion and a sanded path that encircles the property and leads to a secret fountain garden. Menlo Park schools: Oak Knoll/Hillview. Close to Stanford University, Silicon Valley tech and venture capital centers, and 2 international airports ,











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     3924 East Mercer Way, Mercer Island, WA 98040 with 5 bedrooms, 6 baths,
 and 6,338 sq.ft. is listed for sale at $8,200,000.


An Exceptional Beachside Estate has come available! 1.04 acres, a sprawling lawn, coveted sandy beach and 150 ft of Prime North End Wtfrnt. A Dramatic Great Room Concept w/ commanding Lk and Mt Rainier views. Entertain in your Epicureans Ktchn and flow out the Nano doors to gather at the built in firepit. Richly appointed Den. Luxurious Mster suite reminiscent of a 5 star resort. Lower level w/media, bonus and wine cellar. Fully equipped cabana. Big dock w/3 slips, 4 lifts + yacht moorage.










Today's  Real Estate News

Some Comments on March New Home Sales

By Bill McBride 
Calculated Risk

New home sales for March were reported at 621,000 on a seasonally adjusted annual rate basis (SAAR).  This was well above the consensus forecast, and the three previous months combined were revised up significantly. This was a strong report.


Sales were up 15.6% year-over-year in March.  However, January, February and March were the weakest months last year on a seasonally adjusted annual rate basis - so this was an easy comparison.

So far the increase in mortgage rates has not negatively impacted new home sales.

New Home Sales 2015 2016Click on graph for larger image.

This graph shows new home sales for 2016 and 2017 by month (Seasonally Adjusted Annual Rate).  Sales were up 15.6% year-over-year in March.

For the first three months of 2017, new home sales are up 12.0% compared to the same period in 2016.

And here is another update to the "distressing gap" graph that I first started posting a number of years ago to show the emerging gap caused by distressed sales.  Now I'm looking for the gap to close over the next several years.


Distressing Gap
The "distressing gap" graph shows existing home sales (left axis) and new home sales (right axis) through March 2017. This graph starts in 1994, but the relationship had been fairly steady back to the '60s.

Following the housing bubble and bust, the "distressing gap" appeared mostly because of distressed sales.   The gap has persisted even though distressed sales are down significantly, since new home builders focused on more expensive homes.

I expect existing home sales to move more sideways, and I expect this gap to slowly close, mostly from an increase in new home sales.

However, this assumes that the builders will offer some smaller, less expensive homes. If not, then the gap will persist.


Distressing Gap
Another way to look at this is a ratio of existing to new home sales.

This ratio was fairly stable from 1994 through 2006, and then the flood of distressed sales kept the number of existing home sales elevated and depressed new home sales. (Note: This ratio was fairly stable back to the early '70s, but I only have annual data for the earlier years).

In general the ratio has been trending down since the housing bust, and this ratio will probably continue to trend down over the next several years.

Note: Existing home sales are counted when transactions are closed, and new home sales are counted when contracts are signed. So the timing of sales is different.



Today's Mortgage Rates                                                                             52 Week.

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.11%4.11%--3.34%4.39%
15 Yr FRM3.36%3.36%--2.69%3.61%
FHA 30 Year Fixed3.85%3.85%--3.15%4.10%
Jumbo 30 Year Fixed4.38%4.38%--3.42%4.60%
5/1 Yr ARM3.05%3.07%-0.022.80%3.25%
Updated: 4/26/17 3:47 PM

Mortgage Rates Hold Ground After Tax Plan Release

Apr 26 2017, 3:59PM


Mortgage rates were relatively unchanged today, but only after averaging the disparate changes from various lenders.  That means some lenders are in much better shape versus yesterday while others are noticeably worse.  

This sort of disparate movement isn't typical of mortgage rates across lenders, but it can happen when underlying bond markets experience volatility on back-to-back afternoons.  That was indeed the case over the past 48 hours.  Bond markets weakened (which pushes rates higher) yesterday afternoon, but only a handful of lenders issued reprices (new, higher rates, in response to intraday market movement).  Today's volatility was in our favor resulting in several lenders issuing POSITIVE reprices.

Bonds made gains into the afternoon after Trump's tax plan was released.  Stock markets were more optimistic about the potential details and bonds were more cautious.  Both judged that they'd overshot the mark a bit, given the actual details of the announcement.  In other words, stock prices and bond yields (which correspond to mortgage rates) rose more than they otherwise would have and thus had a quick correction back in the other direction.  
Depending on the lender and the time of day you check in, today's rates might not have caught up to the underlying market movement yet.  In those cases, you'd likely see improvements tomorrow, BUT only if bond markets don't move between now and then.

Loan Originator Perspective


Financial markets idled in place today as tonight's tax reform announcement looms.  The proposal's ultimate effect on rates will depend as much on congressional reaction to it as the actual details.  If it's widely embraced and perceived to raise economic growth, bonds will suffer.  If it's lambasted and seen as unlikely to pass, bonds may benefit.  Tough call, it could certainly go either direction.  -Ted Rood, Senior Originator
It appears bonds may have finally found some support.  The big tax news has come and gone, so I am hopeful that the bond sell off has ended for now.   Just holding ground at current levels should allow lenders to improve pricing.  At this point, I would cautiously float overnight and see if bonds can extend today’s gains. -Victor Burek, Churchill Mortgage

Today's Best-Execution Rates

  • 30YR FIXED - 4.0-4.125%
  • FHA/VA - 3.5 - 3.75%
  • 15 YEAR FIXED - 3.25%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender

Ongoing Lock/Float Considerations

  • Investors were relatively convinced that the decades-long trend toward lower rates had been permanently reversed after Trump became president, but such a conclusion would require YEARS to truly confirm
  • Instead of continuing higher in 2017, rates instead formed a narrow, sideways range, and held inside until April.  Investor perceptions are shifting such that fiscal reforms and other policy developments will need to live up to expectations in order to push rates higher.  Geopolitical risks would also need to avoid flaring up (more than they already have)
     
  • For the first time since the election, we're in a rate environment where you wouldn't be crazy not to lock at every little opportunity/improvement.  Until/unless it's broken, the highest rates of early-2017 mark the ceiling, and we're now waiting to see how much lower we can go from here.
     
  • 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