Friday, April 28, 2017


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

#1     19 & 23 Chauncey Close, East Hampton, New York 11937 with 7 bedrooms, 
9 baths, and 14,000 sq.ft is listed for $85,000,000.

Home Photos, House Images and Property Pics Gallery

This iconic East Hampton Village waterfront compound is now available with a Steven Gambrel & Jeffrey Colle designed 14,000 sq ft masterpiece. This 7.1 +/- compound offers 877 +/- pond frontage and unobstructed panoramic southern and western views of the Ocean. Complete with pool house, greenhouse, waterfront pool, tennis and luscious gardens, this thoughtfully designed home complements the rich history of the area. Originally part of the historic Cove Hollow Farm, once a working dairy farm at the turn of the century. This private compound is situated on Chauncey Close, a quiet cul-de-sac on this stunning Georgica Pond peninsula. Imagine relaxing to sound of the crashing waves and spending your summer kayaking, paddling and sailing on Georgica Pond. World renowned for its fleet of beetle cat sailboats, Georgica Pond is one of the most sublime settings in the world. Within moments, from East Hampton village. 

19 & 23 Chauncey Close, East Hampton, NY 11937 -  $85,000,000





Home Photos, House Images and Property Pics Gallery

Today's Top LA Luxury Estate 



The median home value in Los Angeles County is $560,500. Los Angeles County home values have gone up 1.6% over the past year, Zillow predicts they will rise 0.5% within the next year.

The median home value in Brentwood, 90049 is $2,471,800. Brentwood home values have gone up 5.1% over the past year.  Zillow predicts they will rise 1.3% within the next year

The median home value in Malibu is $2,866,500.  Malibu home values have gone up 4.8% over the past year.  Zillow predicts they will rise 0.7 % within the year.

    The median home value in Bel Air, 90077 is $3,243,500. Bel  Air home values have gone up 0.2% over the past year.  Zillow predicts they will remain even -(0.5)% within the next year.

    The median home value in Beverly Hills 90210 is $4,834,000.  Beverly Hills home values have gone up 3.5% over the past year.  Zillow predicts they will rise 0.6% with the next year.

    #1     1547 Tower Grove Drive, Beverly Hills, CA 90210 with 4 bedrooms, 5 baths
    and 5,300 sq.ft. is listed for sale at $12,500,000.


    Stunning Beverly Hills Architectural with City and Ocean Views Stunning Architectural On Promontory Perched Above Beverly Hills With Sweeping Views of City, Ocean, and Mountains. A home of extraordinary prominence having been featured in the New York Times and multiple magazines since its original construction in 1961, Tower Grove House has been completely reimagined, expanded, and masterfully remodeled in 2015. Situated on nearly half an acre, the home takes full advantage of its truly breathtaking unobstructed views of Southern California across Beverly Hills, Century City, Westwood, and Santa Monica from Palos Verdes to Catalina and up the coast.













    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 2.5% over the past year. Zillow predicts they will rise 0.2% withiin the next year. 

    The median home value in Carefree is $746,800. Carfree home values have gone up 
    4.2% over the past year.  Zillow predicts they will rise 1.4% within the next year.  

    The median home value in Paradise Valley is $1,594,100.  Paradise home values have gone up 1.6% over the past year. Zillow predicts they will rise 0.5% within the next year.


    #1     10126-2923 E Hualapai Drive, Scottsdale AZ 85255 with 5 bedrooms, 7 baths, and 7122 sq.ft. is listed for sale at $2,500,000.


    Stunning Spanish Colonial estate home located in the highly sought after Horseshoe Canyon neighborhood of the prestigious Silverleaf Community. This home radiates natural light and flows from the inside to the outside with it's incredible appointments including over-sized natural stone flooring, wood beam ceilings, gorgeous granite countertops, wood flooring, an extraordinary fireplace in the Great Room and wonderful wine cellar. The chef's kitchen is spacious with beautifully designed cabinetry and opens to the Great Room, perfect for entertaining. The spacious Master Retreat has a coffee bar with beverage center, wonderful fireplace and sitting area. The Master Bath offers two walk-in closets, laundry area and spacious shower. The large media/game room is comfortable and inviting with two large TV's and 3 smaller ones, so the sports enthusiast can keep track of all the games. The outdoor spaces are perfect for entertaining, watching the beautiful Sonoran sunsets or family fun with an all tile diving pool and spa to the covered outside sitting room which includes fireplace, TV and terrific BBQ area. 

     












    Today's Top San Diego Luxury Estate 


    The median home value in San Diego County is $532,000. San Diego County home values have gone up 5.2% over the past year. Zillow predicts they will remain even 0.9% within the next year.

    The median home value in La Jolla, 92037 is $1,473,100. La Jolla, 92037 home values have gone up 4.4% over the past year.  Zillow predicts they will rise 0.5% within the next year.

    The median home value in Solana Beach 92075 is $1,265,700. Solana Beach 92075 home values have gone up 5.1% over the past year.  Zillow predicts they will rise 0.3%% within the next year.

    The median home value in Del Mar 92014 is $1,649,900 Del Mar home values have gone up 8.1% over the past year.  Zillow predicts they will rise 1.9% within the next year.

    The median home value in Rancho Santa Fe is $2,542,200. Rancho Santa Fe home values have declined -(5.2)% over the past year and Zillow predicts they will decline -(2.4)% within the next year.

    #1     6767 Neptune Place #204, La Jolla, CA 92037 with 3 bedrooms, 3 baths, and 1,771 sq.ft. is listed for sale at $3,600,000.


    Panoramic oceanfront 3 bed, 3 bath condo in La Jolla with beautiful upgrades & incredible whitewater views. Enjoy seamless beach access to the white sand & rolling waves of Windansea Beach. Built in 2015, unit features extra large secondary bedrooms, fireplace, wood floors throughout, sweeping oceanfront deck, air conditioning, open concept kitchen, solar, 2-car private garage, & assigned storage room. Building is gated & features underground parking, surfer shower, & waterfront fire pit.











    Today's Top San Francisco Luxury Estate 

    Image result for San Francisco skyline pictures

    The median home value in San Francisco is $1,167,700. San Francisco home values have gone up 1.5% over the past year.  Zillow predicts they will decrease by 0.1% within the next year.


      The median home value in Sausalito is $1,272,400. Sausalito home values have gone up 3.6% over the past year. Zillow predicts they will rise 0.7% within the next year. 

      The median home value in Tiburon is $2,497,100. Tiburon home values have gone up 1.9% over the past year.   Zillow predicts they will rise 0.2% within the next year. 

      The median home value in Saratoga is $2,406,500. Saratoga home values have gone up 0.4% over the past year.  Zillow predicts they will rise 0.2% within the next year. 

      The median home value in Atherton is $6,147,100. Atherton home values have gone up 3.0% over the past year and Zillow predicts they will rise o.7% within the next year.

      #1     1701 Bryant Street, Palo Alto, CA 94301 with 5 bedrooms, 6 baths, 
      and 5,330 sq.ft. is listed for sale at $15,895,000.


      Perfectly located-PRIME location, in the heart of Old Palo Alto on a non-through street. Spectacular home on property of almost one half meticulously maintained acre with abundant privacy. Extensively renovated, with beautifully rendered period details, luxurious appointments and modern amenities. Entire ambiance is timeless and elegant with classic mill-work, slate roof, and expansive windows. Stunning kitchen opening to family and breakfast room. Formal living and dining rooms each with a wood burning fireplace, wine cellar. Garden views from every window. Stunning guest house with 2-story living room, garden views, one bedroom, 1 full bath and half bath. Magnificent and premier location.















      Today's Top Seattle Luxury Estate 

      Image result for Seattle 
      The median home value in King County is $540,400. King County home values have gone up 13.1% over the past year.  Zillow predicts they will rise 5.3% within the next year.

      The median home value in Kirkland is $626,600.  Kirkland home values have gone up 14.7% over the past year.  Zillow predicts they will rise 3.8% within the next year.

      The median home value in Seattle is $638,100. Seattle home values have gone up 12.2% over the past year. Zillow predicts they will rise 5.1% within the next year.


        The median home value in Bellevue is $783,000. Bellevue home values have gone up 13.9% over the past year. Zillow predicts they will rise 5.2% within the next year. 

        The median home value in Mercer Island, WA is $1,363,600, Mercer island home values have gone up 10.3% over the past year.  Zillow predicts they will rise 5.1% with the next year.

        The median home value in Clyde Hill is $2,298,400. Clyde Hill home values have gone up 10.8% over the past year. Zillow predicts they will rise 4.5% within the next year.

        The median home value in Medina is $2,403,000. Medina home values have gone up 10.2% over the past year and Zillow predicts they will rise 4.8% within the next year.

        #1     7646 SE 22nd Street, Mercer Island, WA 98040 with 4 bedrooms, 3 baths 
        and 4,760 sq.ft. is listed for sale at $6,800,000.


        Stunning Asian influenced contemporary with glorious lake views & 82' waterfront, 50' boat slip and dock.Extensively remodeled in 2004&2012 with fine surface, flexible floor plan, chef's kitchenfamily room, media room&main floor master suite with gorgeous bath. Stuccoshingle exterior zinc roof entry courtyard with granite pavers and walkway covering an ornamental pond. Light oak floors, high vaulted ceilings walls of windows and doors.
















        Today's  Real Estate News

        Painfully Low Inventory Saps Pending Home Sales 
        Apr 27 2017, 10:08AM

        Is there mostly good news in the negative number for March pending home sales?  The National Association of Realtors says yes.  The NAR's Pending Home Sales Index (PHSI) dipped by 0.8 percent to 111.4 in March from 112.3 in February but NAR says, while this was a slight decrease in momentum, "pending home sales maintained their recent high level." The index is remains 0.8 percent higher than a year ago.

        The PHSI is a forward-looking indicator based on signed contracts to purchase existing homes.  Those contracts are generally expected to result in closed sales within 60 days.



        The downturn was not unexpected.  Pending home sales have moved up and down regularly in recent months, pretty accurately predicting, as they are designed to do, the see-saw behavior of existing home sales.  Econoday's poll of analysts came up with a consensus of a -0.5 percent decline after February's 5.5 percent increase.  Predictions ranged from -1.2 percent to +3.7 percent.

        Lawrence Yun, NAR chief economist, says sparse inventory levels caused a pullback in pending sales in March, but activity was still strong enough to be the third best in the past year. "Home shoppers are coming out in droves this spring and competing with each other for the meager amount of listings in the affordable price range," he said. "In most areas, the lower the price of a home for sale, the more competition there is for it. That's the reason why first-time buyers have yet to make up a larger share of the market this year, despite there being more sales overall."

        Yun says he worries that the painfully low supply levels this spring could heighten price growth, the annual gain was 6.8 percent in March, even more in the months ahead. Homes also came off the market at a near-record pace last month, with a typical marketing time of 34 days.  This is nearly two weeks less than the marketing time in March 2016 and is the second shortest since NAR began tracking the number in 2011. This makes it more likely a listing will receive multiple offers, he said.  Indeed, 42 percent of homes sold at or above listing price in March.

        "Sellers are in the driver's seat this spring as the intense competition for the few homes for sale is forcing many buyers to be aggressive in their offers," he continued.  "Buyers are showing resiliency given the challenging conditions. However, at some point - and the sooner the better - price growth must ease to a healthier rate. Otherwise sales could slow if affordability conditions worsen."

        NAR forecasts there will be around 5.64 million existing homes sold in 2017, an increase of 3.5 percent from the 5.45 million sales last year.  They expect the median price of an existing home to rise around 5 percent.  In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

        The PHSI pulled back in three of the four regions.  The South posted the only gain, up 1.2 percent to 129.4.  This is an increase of 3.9 percent compared to last March.  The PHSI in the Northeast decreased 2.9 percent to 99.1, remaining 1.8 percent higher than a year ago.
        In the Midwest, the index declined 1.2 percent to 109.6 and is down 2.4 percent year-over-year. The index in the West fell 2.9 percent in March to 94.5, and is now 2.7 percent below a year ago. 

        The PHSI is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population

        Today's Mortgage Rates                                                                             52 Week.
        ProductTodayYesterdayChangeLowHigh
        30 Yr FRM4.09%4.11%-0.023.34%4.39%
        15 Yr FRM3.34%3.36%-0.022.69%3.61%
        FHA 30 Year Fixed3.80%3.85%-0.053.15%4.10%
        Jumbo 30 Year Fixed4.36%4.38%-0.023.42%4.60%
        5/1 Yr ARM3.06%3.05%+0.012.80%3.25%
        Updated: 4/27/17 5:20 PM

        Mortgage Rates Fighting to Stay Near 2017 Lows
        Apr 27 2017, 5:24PM

        Mortgage rates moved lower today, following a policy announcement from the European Central Bank (ECB).  Some investors were concerned the ECB might begin sprinkling in clues about rate hikes or an early end to bond buying programs, but there was no such drama in the announcement or the press conference that followed.  

        If you're not familiar with the ECB, it's essentially Europe's version of the Federal Reserve. Both wield tremendously large balance sheets (used to control supply and demand in rates markets, and thus, rates themselves). While central banks can only truly control the shortest term rates, investors who trade the bonds that drive longer-term rates (like mortgages) are nonetheless paying very close attention.  Bottom line: with the ECB not sending any threating messages about shorter-term rates, longer-term rates were able to relax a bit.
        The average lender continues offering conventional 30yr fixed rates in the 4.0-4.125% range for top tier scenarios.  While these aren't the lowest rates seen all year, they're still reasonably close

        Loan Originator Perspective


        Bond markets bounced back slightly today, and several lenders improved rates in the PM.  It appears we've weathered President Trump's tax reform plan, the question now is where markets' next motivation comes from.  I'd be happy with flat rates for a few days, and guessing that's the likely case,  Next week brings April's jobs report and other data, don't ignore markets if you're floating.  -Ted Rood, Senior Originator

        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