Wednesday, April 26, 2017



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

#1      854 5th Avenue, New York, NY 10065 with 9 bedrooms, 10 baths 
and 20,000 sq.ft. is listed for sale at $50,000,000.



With approximately 20,000SF of exceptional space on 9 levels, including 10 rooms directly facing Central Park, this historic Beaux Art building designed by the same architects of Grand Central Station, is offered for the first time in over 70 years. Rich historic provenance, palatial proportions inspired by the Palace of Versailles, and original details by mater artisans of the early 20th century, are just some of the home's many unique features. Must be seen to be appreciated.




                       













 


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     6133 Bonsall Drive, Malibu, CA 90265 with 4 bedrooms, 5 baths, and 5,788 sq.ft. is listed for sale at $14,450,000.

6133 Bonsall Dr, Malibu, CA 90265

Enjoy privacy, serenity and luxury in this sprawling 4+ acre compound on Malibu's prestigious Bonsall Dr.This extraordinary gated estate has been completely updated and upgraded to the highest standards and features a beautiful approx. 6000 sq.ft. home w/ light and bright living spaces, a remarkable chef's kitchen, breathtaking master suite w/ sitting room and luxurious bathroom, huge media/family/game room, 3 family bedrooms w/en-suite bathrooms, study, inviting dining room and 2 powder rooms. Wide plank walnut floors, hand carved beams,exquisite stone work and dozens of French doors + 4 fireplaces add to the ambience. Amenities include: 3 remodeled self-contained guest houses , pool, NS tennis court, custom barn and riding ring. The truly magnificent grounds include vegetable and cutting gardens, fruit trees, and expansive green lawns for your family's enjoyment. Paths wind thru the mature sycamore trees, majestic redwoods and hundreds of rose bushes Multiple outdoor patios.Must be seen to be Appreciated! 

6133 Bonsall Dr, Malibu, CA 90265

6133 Bonsall Dr, Malibu, CA 90265






6133 Bonsall Dr, Malibu, CA 90265

6133 Bonsall Drive, Malibu, CA


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     6667 East Stallion Road, Paradise Valley, AZ 85253 with 5 bedrooms, 7 baths, and 10,000 sq.ft. is listed for sale at $8,300,000.


Inspired by coastal living, this authentic Spanish Colonial Revival sits on 2.5+ lush manicured acres. Custom hand-forged iron gates greet you as you enter the home through the motor court. Once inside, the grand living room is flanked w/ two antique stone fireplaces from Europe and accompanied by large trestle-beams creating a sense of both comfort and grandeur. The gourmet kitchen has everything from a pizza oven, an oversized island, marble counters and opens to the family room. The European limestone flooring creates an easy flow through the home that gives way to lavish style elements including custom iron work keeping the rooms light and bright by purposefully placed windows. The exterior hosts a pool cabana, outdoor kitchen, pool/spa and a lighted tennis court. 










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     934 Muirlands Drive, La Jolla, CA 92037 with 5 bedrooms, 5 baths,
 and 5,814 sq.ft. is listed for sale at $4,895,000.




On La Jolla's Street of Dreams, this stunning 5 bed estate features water & country club views, enchanting grounds w/ fruit trees, pool & spa, and a masterfully designed floor plan. Custom built & meticulously maintained, this home is move-in-ready or the perfect canvas for your personal touch. Fun features incl. gym, game room, wine cellar, putting green, 4-car garage and expansive driveway. Entry level master w/ incredible views, private office, oversized closet, and serene bath with jacuzzi tub and steam shower.








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     51 Crescent Drive, Palo Alto, CA 94301 with 5 bedrooms, 7 baths, 
and 7,145 sq.ft. is listed for sale at $17,800,000.



Located in the most sought after neighborhood in Palo Alto, this estate property is an enclave unto itself. Designed by renowned local architect Birge Clark in 1926, this Spanish Revival residence was painstakingly restored in 2009 by master craftsmen. No expense was spared in the renovation, and the results are truly breathtaking. The 6,155sf floor plan of the main house spans three levels, and includes 4 en suite bedrooms, 4 fireplaces, and an elevator servicing all floors. The grounds of the 24,000+-sf lot are designed for entertaining on a grand scale, and include sparkling pool of Murano blue glass and gold tile, outdoor fireplace with conversation area, and an open pavilion. A separate, 990sf detached one-bedroom guest cottage with full kitchen accommodates multigenerational living, or long term guests. Close proximity to tech hubs, the vibrant downtown area, and Stanford University make for an ideal location. Outstanding Palo Alto Schools. 










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    7734 Seward Park Avenue, Seattle, WA 98118 with 5 bedrooms, 4 baths,
 and 4,477 sq.ft. is listed for sale at $3,198,000


Wonderful waterfront new construction modern is unique from it's counterpart. This property has an entertainers dream kitchen and great room with direct access to the covered deck. There is a mudroom and an office on this floor. The over the top, gorgeous, master suite has remarkable views, enviable closet and stunning bathroom. The lowest level is all about optimizing the lake views from the covered patio. Shared dock with deeded slip. There is potential to build a boat house as well.


















Today's  Real Estate News

New Home Sales Nearly Match Post-Crisis High
Sales of newly constructed homes appear to have stopped, at least for the moment, their up-one-month, down-the-next pattern.  They rose for the third consecutive month in March, and did so convincingly.

The Census Bureau and the Department of Housing and Urban Development say that sales of new homes jumped 5.8 percent in March, to a seasonally adjusted annual rate of 621,000 units.  The rate nearly tied that of July 2016, 622,000 units, for the highest sales pace since the housing crisis.  March also marked the first time since last July that sales have topped 600,000. March sales were up 15.6 percent compared to the previous March when the annual rate was 537,000.



Analysts had expected an increase in sales, but widely undershot the mark.  Those polled by Econoday were looking for results in the 570,000 to 605,000 range with a consensus of 588,000.

On a non-adjusted basis, there were 58,000 new homes sold.  This is 10,000 more sales than in February and 8,000 more than the previous March.

Median prices had declined slightly in February but resumed their upward trend in March.  The median price was $315,100 compared to $311,400 a year earlier.  The average price of a home sold was $388,200 compared to $367,700 in March 2016.

Sales in the Northeast were up 25.8 percent from February and 21.9 percent from the previous March.  The Midwest had a month-over-month slip, down 4.5 percent but were up 23.5 percent on an annual basis.  There was a 1.6 percent monthly increase and a 5.9 percent annual one in the South while the West saw gains of 16.7 percent and 32.6 percent respectively.

At the end of the reporting period there were 266,000 (unadjusted) homes available for sale. This is an estimated 5.2-month supply.  More than half of available homes, 148,000, were under construction.  The median time on the market was 3.7 months.
Today's Mortgage Rates                                                                             52 Week.

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.11%4.08%+0.033.34%4.39%
15 Yr FRM3.36%3.31%+0.052.69%3.61%
FHA 30 Year Fixed3.85%3.75%+0.103.15%4.10%
Jumbo 30 Year Fixed4.38%4.34%+0.043.42%4.60%
5/1 Yr ARM3.07%3.07%--2.80%3.25%
Updated: 4/25/17 4:20 PM

Mortgage Rates Highest in 2 Weeks
Apr 25 2017, 4:21PM

Mortgage rates moved moderately higher again higher today, as global financial markets continued reacting to recent geopolitical flashpoints (like the French election, discussed yesterday).  Markets are also moving in anticipation of future flashpoints (like tomorrow's tax reform announcement).  In general, investors have piled back into riskier assets like stocks because the French election reduces long-term risks to the European Union.  Investors previously were more willing to buy bonds--a safe haven asset frequently used to insulate investors from increased risk.  

The prospects for tax reform have a similar effect in that they encourage investors to favor riskier assets at the expense of bonds.  When demand for bonds decreases relative to supply, rates move higher.

To be clear, we can't have any idea whether or not tomorrow's tax reform announcement will have teeth (in terms of moving markets).  In other words, there's no telling what the actual reaction might be.  It's simply easier for financial markets to take a "lead off" in case the tax announcement creates an opportunity to steal a base.   

Nearly every lender is now back at rates not seen since before April 11th (though not quite as high as April 10th).  For most, that means conventional 30yr fixed rate quotes of 4.0-4.125% on top tier scenarios.  

Loan Originator Perspective


Bonds continued their orderly sell-off today, and pricing worsened for essentially the 6th consecutive day.  It's time to face facts:  France's election results lessened France's chances of EU withdrawal, averting systemic global economic drama, the reason rates dropped.  Until more drama emerges (US budget impasse, 2nd round French election discord?), there's little incentive for lower rates.  Float at your own peril.  -Ted Rood, Senior Originator

Unlike last week, the trend is not our friend right now.  I feel it is best to look at locking if within 30 days of funding.   Til this trend breaks, I will continue to lock at 30 days. -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