Tuesday, May 30, 2017


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


#1     400 Smashta Drive, Key Biscayne, Florida 33149 with 5 bedrooms, 7 baths, 
and 9,619 sq.ft. is listed for sale at $34,000,000.
Coined The 1000 Year House by renowned architect Charles Pawley. Strategically built on a 38,0000 square feet peninsula with 480 feet of waterfront on prestigious Mashta Island. Unimpeded wide panoramic views of the ocean, Bill Baggs Park, Cape Florida Light House and Stiltsville. This fantastic mansion includes a theater, gym, library,  staff qtrs., a covered gazebo and massive terraces with a resort pool/spa.  The protected deep water dock accommodates a 100 plus foot yacht.


















Today's Top Real Estate News

A Likely Shift In The Mortgage Market Is Creating 'Prisoners' In Housing 

By Akin Ovedele
Business Insider

looking out the window

The housing market's comeback after the financial crisis has turned out to be a mixed bag.
Prices have recovered to pre-housing-crisis levels. But with slow wage growth, that means there are fewer affordable houses available to buyers, especially in bigger cities. 

On the surface, the price trend ought to be good news for existing homeowners looking to sell. However, the likely rise in mortgage rates from historic lows means that there will be less incentive to move, according to Mark Fleming, the chief economist at First American.

"You do become a prisoner in your home because of rates," he told Business Insider. 

"There's going to be a growing challenge of an increasing financial penalty caused by the rate lock-in effect over time."

Since the 1980s, the long-term drop in interest rates created a built-in incentive to move, Fleming said. Even if a seller's income was unchanged, it was possible to effectively move into a lower mortgage rate, and so be able to even afford a slightly bigger home. 

30 year mortgages

Now, the likelihood that rates will rise from historic lows has spurred the so-called rate lock-in effect: homeowners don't sell because of the perceived or actual difference in their monthly mortgage payments if they swap their old rate for a new, higher one, Fleming said.

Prisoner's dilemma

In a market with tight inventory, the decision to sell depends on whether homeowners want to risk selling and then not being able to find a new home.

"The existing homeowner is trapped in this prisoner's dilemma of the cooperative outcome," Fleming said. "If we all acted simultaneously, it would solve the problem. But we can't take the risk of being the one that acts when everyone else doesn't." 

In some cases, like when a homeowner is moving, the sell decision is easier to make, if not obligatory. Also, there's a level of home-price appreciation that makes selling an attractive prospect.

'Get used to this new normal'

The question, according to Fleming, then becomes whether new homes can be built quickly enough to catch housing stock up to demand.

This gap has created the most competitive buyers' market on record for existing homes, judging by how long homes stay listed, according to the National Association of Realtors. In April, existing homes listed for a record-low median of 29 days, the NAR said on Wednesday. Shorter listing times suggest buyers are snapping up houses as quickly as possible, indicating a hot market.

"For patient buyers willing to endure the competition and frustration, conditions may ease somewhat in a few months as owners of those listings leftover from the spring season get antsy for a sale and consider price cuts towards the end of the summer," said Svenja Gudell, the chief economist at Zillow, in a note.

"But in reality, these conditions — tight inventory, high demand and rising prices — look to be with us for a while to come, and buyers should get used to this new normal."


Today's Mortgage Rates                                                                              52 Week 

30 Yr FRM4.03%4.05%-0.023.34%4.39%
15 Yr FRM3.29%3.31%-0.022.69%3.61%
FHA 30 Year Fixed3.75%3.75%--3.15%4.10%
Jumbo 30 Year Fixed4.31%4.33%-0.023.42%4.60%
5/1 Yr ARM3.08%3.10%-0.022.80%3.25%
Updated: 5/25/17 1:00 PM

Today's Top LA Luxury Estate 


The median home value in Los Angeles County is $563,400. Los Angeles County home values have gone up 6.7% over the past year, Zillow predicts they will rise 0.8% within the next year.

The median home value in Brentwood, 90049 is $2,447,100. Brentwood home values have gone up 3.5% over the past year.  Zillow predicts they will rise 0.4% within the next year

    The median home value in Malibu is $2,866,300.  Malibu home values have gone up 4.3% over the past year.  Zillow predicts they will rise 0.2% within the year.

      The median home value in Bel Air, 90077 is $3,228,900  Bel  Air home values have gone down -(1.0%)  over the past year.  Zillow predicts they will go down  -(1.1)% within the next year.

        The median home value in Beverly Hills 90210 is $4,850,400.  Beverly Hills home values have gone up 1.3% over the past year.  Zillow predicts they will rise 0.6% with the next year.

        #1    26848 Pacific Coast Highway, Malibu CA 90265 with 5 bedrooms, 8 baths, 
        and 12,045 sq.ft. is listed for sale at $25,000,000.



        One of the most significant residential estates in the United States, La Villa Contenta offers the most prime Malibu location with unobstructed views of the Pacific Ocean. This gated residence with the utmost privacy features a grand main house with a lavish entryway finished with the finest Italian marble, hand painted groin vault ceilings in the gorgeous loggia, coffered ceilings in the luxurious double living rooms, a library/study, gourmet kitchen, wine cellar, full gym, movie theater, and large terraces with ocean views. This property also boasts of a wading pool, extravagant guest house and tennis courts. With the finest architectural integrity, quality of construction and imported designer details, this estate is truly for those who demand ultra luxurious living and the pride of acquiring one of the rarest trophy properties in the world. 







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        Image result for 26848 pacific coast highway, malibu ca 90265
        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 $418,700. Scottsdale home values have gone up 2.6% over the past year. Zillow predicts they will rise 0.4% withiin the next year. 

        The median home value in Carefree is $746,800. Carefree home values have gone up 
        3.6% over the past year.  Zillow predicts they will rise 1.3% within the next year.  

        The median home value in Paradise Valley is $1,604,200.  Paradise home values have gone up 1.3% over the past year. Zillow predicts they will rise 0.0% within the next year.

          #1     7714 N Calle Caballeros, Paradise Valley, AZ with 6 bedrooms, 7 baths, 
          and 8,369 sq.ft. is listed for sale at $4,700,000.


          Remarkable Spanish Colonial estate with stunning architectural features, abundant character and craftsmanship throughout. 7,765 SF main house with five en suite bedrooms, plus a 604 SF detached guest house. Custom Gietz Master Builders residence with: two-story hand-carved stone entryway, groin vault ceilings, hand-plastered walls, retractable walls of glass, wood beams, seven fireplaces and formal wine cellar. Rustic French countryside kitchen with custom cabinetry and premium appliances. Elegant living room, formal dining room, coffered ceiling office with custom built-ins and adjacent courtyard with water feature. Private, amenity-rich grounds with fountains, fireplaces, and an impressive glass-tiled salt-water pool & spa with two cabanas with fans, misting system and Mummy Mountain views. Master suite with exercise room and bathroom that resembles a spa retreat. His & Her walk-in closets and bathrooms, hers with bidet, stand alone jetted tub and steam shower. Enjoy the views from your private courtyard with gas fireplace. Luxurious theater and game room. The upstairs features three en suite bedrooms with a study / play area with custom built-ins. 4-car garage w/ built-in cabinets. Entertainers dream home with exceptional quality and perfection at every turn. 









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          Top San Diego Luxury Estate 


          The median home value in San Diego County is $537,200. San Diego County home values have gone up 5.7% over the past year. Zillow predicts they will remain even 2.4% within the next year.

          The median home value in La Jolla, 92037 is $1,466,000. La Jolla, 92037 home values have gone up 2.2% over the past year.  Zillow predicts they will rise 1.8% within the next year.

            The median home value in Solana Beach 92075 is $1,278,200. Solana Beach 92075 home values have gone up 5.3% over the past year.  Zillow predicts they will rise 1.6%% within the next year.

            The median home value in Del Mar 92014 is $1,620,400 Del Mar home values have gone up 5.7% over the past year.  Zillow predicts they will rise 2.8% within the next year.

            The median home value in Rancho Santa Fe is $2,560,200. Rancho Santa Fe home values have declined -(4.1)% over the past year and Zillow predicts they will decline -(0.7)% within the next year.

            #1     4512 Los Pinos, Rancho Santa Fe, CA 92067 with 4 bedrooms, 6 baths, 
            and 6,464 sq.ft. is listed for sale at $4,735,000.


            Magnificent estate home with sweeping views to the ocean. A rare combination of broad vistas and casual elegance that signify the finest of Rancho Santa Fe living. Enjoy rose-streaked sunsets spreading across the ocean and stroll through winding garden paths and scented lemon groves. Located on four acres in the Covenant of Rancho Santa Fe on the coveted west side. Private, peaceful cul-de-sac site with cool ocean breezes. Impressive design and construction details throughout.

















              Top San Francisco Luxury Estate 

              Image result for San Francisco skyline pictures

              The median home value in San Francisco is $1,189,100. San Francisco home values have gone up 4.0% over the past year.  Zillow predicts they will decrease by 1.0% within the next year.


              The median home value in Sausalito is $1,254,300. Sausalito home values have gone up 2.6% over the past year. Zillow predicts they will rise 1.5% within the next year. 

              The median home value in Tiburon is $2,500,600. Tiburon home values have gone up 2.9% over the past year.   Zillow predicts they will rise 1.1% within the next year. 

              The median home value in Saratoga is $2,428,700. Saratoga home values have gone up 1.1% over the past year.  Zillow predicts they will rise 1.0% within the next year. 

              The median home value in Atherton is $6,145,500. Atherton home values have gone up 2.9% over the past year and Zillow predicts they will rise 0.8% within the next year.

              #1     580 El Cerrito Ave, Hillsborough, CA 94010 with 5 bedrooms, 6 baths, 
              and 3,882 sq.ft. is listed for sale at $4,595,000.


              This stunning Colonial home evokes the feeling of a classic New England retreat. Built in 1936, this historic home has been elegantly remodeled with the highest quality materials, including high ceilings, detailed millwork, top of the line fixtures, gleaming hardwood floors, and rich architectural details to enhance the air of understated elegance. Absolutely ideal floor plan, includes 5BR (4 up and 1 downstairs), 5.5BA, handsome wood-paneled office and large kitchen/family room that opens to rear gardens. Walk to South Elementary School and downtown San Mateo.








                Top Seattle Luxury Estate 

                Image result for Seattle 
                The median home value in King County is $551,000. King County home values have gone up 13.6% over the past year.  Zillow predicts they will rise 5.6% within the next year.

                The median home value in Kirkland is $646,900.  Kirkland home values have gone up 16.1% over the past year.  Zillow predicts they will rise 6.1% within the next year.

                The median home value in Seattle is $653,400. Seattle home values have gone up 12.9% over the past year. Zillow predicts they will rise 5.5% within the next year.

                The median home value in Bellevue is $800,800. Bellevue home values have gone up 14.4% over the past year. Zillow predicts they will rise 5.7% within the next year. 

                The median home value in Mercer Island, WA is $1,378,300, Mercer island home values 
                have gone up 9.4% over the past year.  Zillow predicts they will rise 5.3% with the next year.

                The median home value in Clyde Hill is $2,345,400. Clyde Hill home values have gone up 10.9% over the past year. Zillow predicts they will rise 4.9% within the next year.

                The median home value in Medina is $2,454,700. Medina home values have gone up 10.8% over the past year and Zillow predicts they will rise 5.1% within the next year.

                #1     3407 Evergreen Point Road, Medina, WA 98039 with 4 bedrooms, 4 baths, 
                and 4,320 sq.ft. is listed for sale at $3,595,000


                Stunning Lake Views. This Mid-Century Modern honors Medina's natural beauty with intimate sparkling Lake Washington views and sited on .82 acre of park-like serenity. Iconic Ralph Anderson design with grand glass walled views and strong flowing wood elements. Smart updates throughout Main level master, office, 2nd kitchen, entertainment areas, courtyard, double living rooms. Outdoor spaces abound multiple water view patios, sun-kissed gardens, 2 garage structures w workshop, and open space.
















                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