Thursday, June 29, 2017

Today's Best Mansion: It's lavish. It's huge. It's grand. It's expensive.

#1      59 Hale Malia Place, Lahaina, HI 96761 with 5 bedrooms, 6 baths, 
and 4,164 sq.ft. is listed for sale at $20,000,000.
Hidden yet close, precious but guarded.. Bordered by over 200-feet of West Maui shoreline facing North, South, and West. The Alaeloa Point Residence is Maui's finest retreat resort home: secured behind a private gate, close to Ka'anapali, and walking distance to Kapalua. Custom built to compliment the surrounding environment and designed to resemble traditional Hawaiian architecture. 59 Hale Malia is built primarily of cedar, stone, glass and Pearl Harbor coral preserved and meticulously maintained. The smart, open estate includes a detached 2-bedroom cottage, heated pool, private office, ocean access and art studio. Nowhere to go: sit, relax, and enjoy the whales, watch the sunsets, and relish the Maui life. 

Today's Top LA Luxury Estate 

The median home value in Los Angeles County is $566,400. Los Angeles County home values have gone up 6.7% over the past year, Zillow predicts hey will decrease (-2.2%) within the next year.

The median home value in Brentwood, 90049 is $2,425,700. Brentwood home values have gone up 3.0% over the past year.  Zillow predicts they will decrease (- 3.0%) within the next year

The median home value in Malibu is $2,885,000.  Malibu home values have gone up 4.6% over the past year.  Zillow predicts they will decrease (-2.7%) within the year.

The median home value in Bel Air, 90077 is $3,264,800  Bel  Air home values have gone up 0.5% over the past year.  Zillow predicts they will go down  (-3.8%) within the year.

The median home value in Beverly Hills 90210 is $4,893,900.  Beverly Hills home values have gone up 0.4% over the past year.  Zillow predicts they will decrease (-2.4%)  within the next year.

#1      755 Singing Wood Drive, Arcadia, CA 91006 with 6 bedrooms, 8 baths, 
and 12,923 sq.ft. is listed for sale at $13,900,000.
Brand New Two-Story French Style Estate with Slate Roof Located on the Desirable Street in the Upper Rancho Area. This Magnificent Home , Facing South, Designed by Robert Tong & Built by Mur-Sol Construction. This is a True Custom Made Home with the Highest Quality of Construction and Material Selections. This Mansion has 13,723 sq.ft. (Main Building 12,923 sq.ft plus Pool House 800 sq.ft.) 6 Suites , 7 1/2 Baths on a 49,676 sq.ft Lot. An Elegant Stairway Leads You up to Two Grand Suites and Adjoining Sitting Area, Balcony, Walk-in Closets with Glass Cabinet Doors, Freestanding Jacuzzi Bathtub & Steam Shower. Two Suites Downstairs. Highlights include Formal Living Room, Formal Dining Room, Hand Craft Foyer Chandeliers, Library with Wood Panels Walls, Home Theater with 135 inch Screen, Family Room attached to Covered Patio with Fireplace, Gourmet Kitchen Open to the Breakfast Nook, Center Island, Sub-Zero Double Refrigerator & Freezer, Wolf Range, Chef's Kitchen, Walk-in Pantry, an Elevator, Wine Room with Marble Wet Bar, Climate Controlled Wine Cellar. This Open Floor Plan is Designed for Indoor and Outdoor Entertaining with Professional-Level Lighted Tennis Court, Pool with Waterfall & Spa, Pool House, Built in BBQ Area, Vegetable & Herb Garden, Backyard has Top Quality Artificial Turf. 4-Car Garage, 5 Central Control Air Conditioner Zone System, Surveillance Cameras and Nest Climate Control System. 

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 $421,200. Scottsdale home values have gone up 2.8% over the past year.  Zillow predicts they will decrease (-2.7%) within the next year. 

The median home value in Carefree is $751,100. Carefree home values have gone up 3.6% over the past year.  Zillow predicts they will decrease (-1.7%) within the next year.

The median home value in Paradise Valley is $1,611,700.  Paradise home values have gone up 1.0% over the past year. Zillow predicts they will decrease (-2.8%) within the next year.

#1      7100 North 69th Place, Paradise Valley, AZ 85253 with 6 bedrooms, 9 baths 
and 7,027 sq.ft. is listed for sale at $3,790,000.
Introducing an incredibly rare opportunity. Build your dream home in the heart of Paradise Valley, steps away from the brand new Ritz Carlton resort and world class shopping. Privacy and convenience intersect perfectly with this exceptional lot that can be fully developed, located in an established area surrounded by well manicured homes of the same caliber. Neighborhood represents true pride of ownership and luxury living.Estimated completion date September 2018. You still have time to pick your architectural style and finish to your personal tastes. Plans and construction provided Paradise Valley's leading luxury builder Skapa Properties.

Today's Top San Diego Luxury Estate 

The median home value in San Diego County is $543,400. 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 $1,476,600. La Jolla, 92037 home values have gone up 1.1% this past year.  Zillow predicts they will decrease (1.2%) within the next year.

The median home value in Solana Beach 92075 is $1,284,100. 
Solana Beach 92075 home values have gone up 5.3% this past year. Zillow predicts they will rise 1.6%% within the next year.

The median home value in Del Mar 92014 is $1,615,300 Del Mar home values have gone up 3.2% over the past year.  Zillow predicts they will decrease (0.6%) within the next year.

The median home value in Rancho Santa Fe is $2,593,300. Rancho Santa Fe home values have declined -(2.9)% over the past year and Zillow predicts they will decline -(3.7)% within the next year.

#1        170 Carob Way, Coronado, CA 92188 with 6 bedrooms, 7 baths,
and 5,128 sq.ft. is listed for sale at $5,199,000.

Luxurious Coronado Retreat! 3 Blocks from the beach, an extraordinary executive home with Casita. Four levels with 6BR / 6.5 BA all ensuite, gourmet kitchen with butlers pantry, elevator and smart home system. Spacious master bedroom suite and spa -like bath. Fun for all downstairs with a home theater, wine cellar and game room. Relax on the roof top deck by the fire or in the hot tub while enjoying the downtown San Diego city views! An entertainers dream backyard features a heated, salt water pool / hot tub and outdoor kitchen. Every detail has been carefully selected and quality crafted. Interior highlights include complete gourmet kitchen with 2 built-in Subzero refrigerators, butler's pantry, Brazilian cherry hardwood floors, and granite counters throughout. Appliances and fixtures from Miele, Wolfe, and Fisher Paykel brands. Grandiose entryway with marble tile and an elegant spiral stair case leading to the Master Suite with an amazing spa-like bath featuring heated floors, large steam shower, and 6-foot jetted tub, plus oversized his & her master closet. Fun for all awaits downstairs with state-of-the-art theater featuring 120" screen, 8 personal recliners, surround sound, 500-bottle wine cellar and tasting room, and game room with full-size billiard / ping pong table. Venture up to the roof top deck to relax by the fireplace or in the 6-person hot tub while enjoy amazing 360-degree views of downtown San Diego and Point Loma. Open the accordion doors to your personal resort-like backyard with heated salt water pool, hot tub, outdoor kitchen, built-in heaters and outdoor shower nestled in lush landscaping for privacy. This home also features an elevator for the 3 main floors and complete Elan Smart Home System with internet based remote control for all home's features and security cameras. 

Today's Top San Francisco Luxury Estate

Image result for San Francisco skyline pictures

The median home value in San Francisco is $1,194,500. San Francisco 
home values have gone up 4.0% over the past year.  Zillow predicts they will decrease by 1.0% within the year.

The median home value in Sausalito is $1,256,800. 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 $2,479,000. Tiburon home values 
have gone up 2.1% over the past year.   Zillow predicts they will rise decrease by (2.2%) within the next year. 

The medium home value in Saratoga is $2,453,600.  Saratoga home values have gone up 2.8% this past year.  Zillow predicts they will decrease (- 2.4%) within the next year. 

The median home value in Atherton is $6,343,800. Atherton home values have gone up 7.3% over the past year and Zillow predicts they will decrease ( -1.8%) within the next year.

#1      469 Oakshire Place, Alamo, CA 94507 with 5 bedrooms, 7 baths, and 6,827 sq.ft. is listed for sale at $5,898,000.
Soaring high over the Roundhill Country Club with views that span more than 180 degrees is an exceptional La Bellavista custom estate with a beautifully appointed interior and inviting outdoor venues. Located in Alamo's exclusive Roundhill Estates North, this cul-de-sac estate sets itself apart from others by being built away from the street on almost three acres at the end of a long, private, gated driveway.

Today's Top Seattle Luxury Estate

Image result for Seattle 
The median home value in King County is $566,900. King County home values have gone up 15.7% over the past year.  Zillow predicts they will rise 3.2% within the next year.

The median home value in Kirkland is $645,900.  Kirkland home values have gone up 17.8% over the past year.  Zillow predicts they will rise 3.7% within the next year.

The median home value in Seattle is $670,300. Seattle home values have gone up 14.5% over the past year. Zillow predicts they will rise 3.1% within the next year.

The median home value in Bellevue is $819,700. Bellevue home values have gone up 15.6% over the past year. Zillow predicts they will rise 3.2% within the next year. 

The median home value in Mercer Island is $1,401,000, Mercer island home values have gone up 10.7% over the past year.  Zillow predicts they will rise 2.6% with the next year.

The median home value in Clyde Hill is $2,425,000. Clyde Hill home values have gone up 13.0% over the past year. Zillow predicts they will rise 2.6% within the next year.

The median home value in Medina is $2,545,200. Medina home values have gone up 13.5% over the past year and Zillow predicts they will rise 2.8% within the next year.

#1       1000 Water View Lane, Medina, WA with 5 bedrooms, 6 baths,
 and 6,120 sq.ft. is listed for sale at $8,168,000.

Medina's introduction to World Design. Culmination of gathering, traveling, setting precedent, provoking impact as a springboard for tomorrow. This estate features Art as a considered collection; Leather~wrap basin-pedestal; Milk glass and nickel; Raw oak juxtaposed against Herringbone. Cashmere walled Master Suite; Culinary core fusion: metals, stone, high polish planes, slab marble, subway tile. Theatre of exquisite grounds; 'Tony interior' screening room.

Today's Top Real Estate News

"Lopsided Conditions" Dragging Down Pending Home Sales

Mortgage News Daily
By Jann Swanson

Pending home sales failed to rise as expected in May, the third straight month that measure has declined.  The National Association of Realtors'® (NAR's) Pending Home Sale Index (PHSI) dipped 0.8 percent compared to April, on top of a 1.3 percent downturn that month.  The index is now 1.7 percent below its level in May 2016, the second consecutive month annual sales have been down.

The PHSI is a leading indicator of existing home sales based on signed home purchase contracts.  The Index lever was 108.5 in May, and the April index was revised down from the 109.8 originally reported to 109.4.

Analysts polled by Econoday had expected the PHSI to increase from 0.4 to 0.8 percent.  The consensus was for a one-half point gain.

NAR said the decline was the result of ongoing supply shortages and resulting home price increases in many metro areas.  None of the major regions saw an increase in contract activity in May and three of the four have fallen behind their 2016 level.

Lawrence Yun, NAR chief economist, says it's clear the critically low inventory levels in much of the country somewhat sidetracked the housing market this spring. "Monthly closings have recently been oscillating back and forth, but this third consecutive decline in contract activity implies a possible topping off in sales," he said. "Buyer interest is solid, but there is just not enough supply to satisfy demand. Prospective buyers are being sidelined by both limited choices and home prices that are climbing too fast."

Like most other sources of such data, NAR says the shortages are most severe in the lower price ranges. That is being reflected in home purchase closings.  April sales of homes under $100,000 were down 7.2 percent from May 2016, and sales rose only 2.0 percent for those between $100,000 and $250,000. In higher price brackets, sales expanded incrementally all the way up to massive increases of 26.0 percent for homes priced between $750,000 and $1 million and 29.1 percent for those selling for $1 million and more.

Weaker financial and economic confidence could also be playing a role in the slowdown in contract activity. NAR's quarterly Housing Opportunities and Market Experience (HOME) survey, released earlier this week, found that fewer renters think it's a good time to buy a home, and respondents overall are less confident about the economy and their financial situation than they were earlier this year.

"The lack of listings in the affordable price range are creating lopsided conditions in many areas where investors and repeat buyers with larger down payments are making up a bulk of the sales activity," said Yun. "Meanwhile, many prospective first-time buyers can't catch a break. Prices are going up and there's intense competition for the homes they're financially able to purchase." 

NAR forecasts existing home sales to be around 5.63 million this year, an increase of 3.2 percent from the 5.45 million rate last year.  The national median existing-home price is expected to increase around 5 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

"A much higher share of homeowners compared to a year ago think now is a good time to sell, but until they do, sales will likely stay flat and low inventory will keep price growth moving swiftly," said Yun.

The PHSI in the Northeast decreased 0.8 percent to 96.4 in May, but remains 3.1 percent above a year ago. In the Midwest, the index was unchanged from April at 104.5, and is 2.8 percent lower than May 2016.

Pending home sales in the South declined 1.2 percent to an index of 123.4, a drop of 1.4 percent year-over-year. In the West, the index dipped 1.3 percent in May to 98.6, and is now 4.5 percent below a year ago. 

The Pending Home Sales Index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

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

Mortgage Rates Highest in More Than 2 Weeks

Jun 28 2017, 4:39PM

Mortgage rates moved moderately higher again today, as investors continued digesting the possibility of a "taper tantrum" in Europe.  The US version of the taper tantrum occurred in 2013 when the Fed began signaling its intention to buy fewer bonds.  Fed bond buying was a key motivation for the all-time low rates seen in 2012.

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importantly, have a great day.


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: