Thursday, May 18, 2017


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

#1     771 Garden Lane, Santa Barbara, CA 93108 with 5 bedrooms, 7 baths, 
and 11,170 sq.ft. is listed for sale at $26,750,000.


Set in Montecito's coveted Riven Rock, a commanding 5.5-acre Country estate offers an unprecedented opportunity for the discerning buyer. The stellar 11,000sq+ residence, extensively remodeled in 2007, is replete with fab entertaining rooms inside & out for any & all occasions, a professional chef's kitchen, & a master closet to end all closets. Outside, a poolside guest house+gym, detached guest suite, staff offices, & parking for 8+ cars. Gracious, grand & perfectly proportioned, the scale of the residence is sheer perfection. Vast ocean sightlines, commanding mountain views & spectacular gardens surround the estate. The lush lawns, meandering paths leading to a creekside oasis & hidden sanctuaries thrive with the private water sources. This legacy property redefines luxury living! 





















Today's Top Real Estate News

Record Low Inventory is "freaking us out"

By Diana Olick
CNBC.com


A Redfin Corp. 'For Sale' sign stands outside of a home in Seattle, Washington.
  • Housing inventory continues to drop amid tight credit and a growing tendency toward becoming a landlord.
  • Homes in April sold the fastest since Redfin began tracking the market in 2010.
The number of homes for sale in America has been falling steadily for the past year, but the situation is apparently getting much worse as spring demand heats up.

"The inventory is reaching historic lows. It's never declined faster than it did last month. It's freaking us out — it's affecting our business; it's limiting our sales," said Glenn Kelman, CEO of Seattle-based Redfin, a real estate firm. "We're going to be fine in terms of market share, but I think the overall industry for the first time is seeing sales volume really limited by the inventory crunch."


Kelman started Redfin more as a technology company and touts his ability to track closely the more than 80 metropolitan markets it covers. He blames the lack of inventory on a new dynamic in housing.


"It's a new landlord nation where everybody is renting out their basement. When somebody moves up they don't sell their old place, they rent it out to somebody else, and it's because they want to keep that 30-year mortgage for 30 years, and it's because they can easily find somebody on Airbnb who will take the place," Kelman said.

Homes in April sold the fastest since Redfin began tracking the market in 2010. The typical home went under contract in just 40 days, 10 days faster than April 2016. As a result, 1 in 4 homes sold above their list price, which is the highest percentage Redfin has recorded.

Home prices continue to move higher as well, but, "It's not a bubble," said Kelman emphatically, who cites tight credit as keeping the bubble at bay.

Inventory of homes for sale fell about 7 percent nationally in March, compared with a year ago, according to the National Association of Realtors. Like most, Kelman blames the problem on a lack of new construction. On the single-family side, homebuilders are still putting up 18 percent fewer homes than the 25-year average.


"Cranes fill the sky in every town, but they're building office buildings," he said, noting that while employment is going up, there's no commensurate increase in the number of houses. In fact, he added, when people do construct housing, they're opting to build apartment complexes because tight credit is keeping many would-be buyers out of the market. "There is so much demand in terms of rent that it doesn't make sense to build properties for sale."



Today's Mortgage Rates                                                                             52 Week


ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.99%4.09%-0.103.34%4.39%
15 Yr FRM3.24%3.34%-0.102.69%3.61%
FHA 30 Year Fixed3.75%3.80%-0.053.15%4.10%
Jumbo 30 Year Fixed4.28%4.36%-0.083.42%4.60%
5/1 Yr ARM3.05%3.07%-0.022.80%3.25%
Updated: 5/17/17 5:04 PM


The Top Luxury Estates in Los Angeles, Phoenix, San Diego, San Francisco and Seattle Listed For Sale.

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     2075 Lombardy Road, San Marino, CA 91108 with 6 bedrooms, 6 baths, 
and 6,966 sq.ft. is listed for sale at $9,000,000.




Gated estate on coveted Lombardy Road! This 1925 Spanish Colonial Revival home of approximately 7,000 square feet on close to an acre of striking grounds features a 6 bedroom, 6 bath home, pool and spa, separate guest quarters over the two car garage, expansive lawns, covered arcade with arches and columns, large koi pond, a regulation size north/south tennis court with newer US Open spec surface, and mature trees and landscaping. Other features include an impressive foyer, formal living room with fireplace, grand formal dining room, butler's pantry, kitchen opening to the spacious family room, and library with fireplace. There are 2 bedrooms with baths downstairs and 4 bedrooms upstairs all with balconies capturing views of the San Gabriel mountains and gorgeous stately grounds. The master suite has 2 walk-in closets, vanity, marble bath with tub and spa, separate shower and double sinks. Other details include hardwood flooring, intricately patterned Spanish tiles, ornamental iron work, hand crafted wall finishes, elaborate crown moldings, archways, custom window coverings, and five zone central air conditioning and heating. Located in the heart of San Marino, with award winning schools! 



















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    7230 N 71st Street, Paradise Valley, AZ 85253 with 5 bedrooms, 6 baths, 
and 6,059 sq.ft. is listed for sale at $2,595,000.


This is the first time this home has been on the market. The owner has recently invested 300K in home to update kitchen and great room along with general maintenance. This is one of the most desirable communities in PV and this is the most desirable street in the community with Mountain Views and is not on any road. This home is timeless and has all the features you are looking for in a home. The large master has 2 big closets a sitting area and fireplace. All of the bedrooms have on suite bathrooms and there is a second master that has 2 walk in closets. The landscaping is beautiful This is the best home in the mid 2 millions in Paradise Valley. Call for a private showing.










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     6919 Country Club Drive, La Jolla, CA 92037 with 4 bedrooms, 5 baths, 
and 6,042 sq.ft. is listed for sale at $6,498,000.


Overlooking fairway, sea, sunset, and Village at the pinnacle of Country Club Drive find gated 'Villa de la Torre,' a magnificent private residence built with curated architectural treasures from all over the world. Ancient vessels, antique doors, hand rubbed cabinetry and woodwork, soaring open beam ceilings and handcrafted fixtures created from iron, seashells, copper, stone and more are found throughout the home, creating a highly sophisticated aesthetic with warm ambiance. 










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 0.7% within the next year.

#1      1 Upper Road, Ross, CA 94957 with 8 bedrooms, 7 baths, and 9,520 sq.ft. 
is listed for sale at $10,995,000.



Outstanding Hampton's style estate perfectly site placed on a park like 1.7 acres. Recently renovated with high end, designer finishes throughout. Great scale with the extensive use of milled woodwork, white marble, high end fixtures and lighting. Compound living with detached guest house, detached pool house, car collector's garage (8 cars), gym, and yoga room. Approved plans for under ground pool. Resort living in the flats just steps to Phoenix Lake!



















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     6211 77th Avenue SE, Mercer Island, WA 98040 with 3 bedrooms, 3 baths, 
and 4,020 sq.ft. is listed for sale at $6,500,000.


Long admired and widely recognized, this Classic Craftsman has come available! Coveted low bank waterfront with prime western exposure. Timeless architecture and meticulous artistry. Views in every sense of the word. Epicurean's kitchen. Dreamy main floor master. Outside, a water lovers paradise. A built-in spa, yachtmans dock, a grandfathered in party platform and an entertaining pavilion that rivals none other. Street to water, peace and privacy, its time to relax and let the ultimate lifestyle begin.











Thanks for reading "Today's Best Mansions"

Looking for more information?  Have a comment?  Need a Realtor referral?  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 "Today's 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