Tuesday, July 18, 2017

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

#1        840 Greenway Drive, Beverly Hills, CA 90210 with 7 bedrooms, 10 baths 
and 10,884 sq.ft. is listed for sale at $22,500,000.

Seldom does a home of this caliber grace our market. Situated on over 30,000 square feet of flat land with complete privacy, this 11,000 square foot Cape Cod masterpiece must be seen to be fully appreciated. Greenway Manor features an open floor plan with a capacious great room connecting the main living spaces and backyard beyond. The recently upgraded kitchen is a chef's dream- complete with professional grade appliances and an oversized kitchen island, which open to the dining and living spaces. Features include 7 en-suite bedrooms, 10 custom bathrooms, gourmet kitchen, wood paneled office, home theatre and much more. The classic Beverly Hills palm trees set a serene backdrop to the ultra-private and beautifully landscaped grounds complete with a built-in BBQ, pool and spa, charming guest casita, private gym, verdant lawns & gardens, covered loggias, lighted sports court, 2-car garage and motor court. A truly magical setting in one of the most desirable locations in Beverly Hills.

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       1650 Marlay Drive, Los Angeles, CA 90069 with 8 bedrooms, 28 baths 
and 16,000 sq.ft. is listed for sale at $14,900,000.

Privately set on the coveted Sunset Strip with head on views of Los Angeles from every room, find this Contemporary Mediterranean gem built in 2009 offering 16,000SQFT, w/ every conceivable amenity one could ask for. Massive 3,000 SQ FT Master suite on the top floor w/ boutique-size walk in closets, 4 fire places, his and her baths with jet-spa tub, private office, private outdoor terrace w/ flat screen. Find an addtl 7 bedrooms en suite including 2 more Master suites w head on views and private patios. Impressive 64 ft fully equipped gym, professional movie theater with sofa/stadium seating, huge kitchen with breakfast bar, family room, formal living room, and 22 seat dining room. Sports bars on most levels with pool table, ping pong and shuffle board for convenient entertaining, professional high speed elevator, 5 car garage, 24 flat screens, 32 camera surveillance system, wine room, sauna, 2 steam showers.. the list goes on and on!

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       19445 North 99th Street, Scottsdale, AZ 85255 with 5 bedrooms, 6 baths 
and 5,450 sq.ft. is listed for sale at $3,150,000

First Time on the Market! Light, Bright, Open Floorpan w/ Outstanding Quality & Excellent Detail. Oversized Lot, Grand Circular Driveway, Private Entry Courtyard w/ Gate & Fountain. Interior spaces are filled with Natural Light & adorned with High Quality Finishes & Design w/ Shades of White on Walls, Millwork & Cabinetry, Desirable Southeast Rear Yard Exposure, Beautiful Custom Ceiling Details, Rear Yard Ramada/Outdoor Kitchen w/ TV & Seating opens onto a Spacious Firepit Seating Area, Huge Grass Backyard, Extra Deep Oversized Garages, 3 Bedrooms on Main Level & 2 Bedrooms Up, 2nd Laundry Upstairs, ''Spa-like'' Master Bath w/ Large Freestanding Tub & Beautiful Floor to Ceiling Glass opens into a private walled in Courtyard w/ Fireplace. His & Hers Closets. Savant AV Automation System. 

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      2644 Costebelle Drive, La Jolla, CA 92037 with 4 bedrooms, 3 baths 
and 3,623 sq.ft. is listed for sale at $2,499,000.

Bright and airy single level La Jolla home with panoramic ocean and cove views. Resting on a leveled half acre lot in a quiet cul-de-sac. Stunning ocean views from nearly every room. Tons of privacy and amazing natural light throughout. Dramatic Great Room with custom white voluminous high beam pitched ceilings, floor-to-ceiling brick fireplace, dual ceilings fans, built-in bookcase shelf, storage cabinets and 4 side-by-side glass doors leading out to the expansive entertainment deck. Backyard offers incredible ocean views of La Jolla Shores and the La Jolla Cove, inviting in-ground built-in spa and several shaded areas for outdoor dining. Upgraded professional kitchen with tons of cabinet and countertop space and stainless steel appliances. The formal dining room offers floor-to-ceiling French doors and opens up to a lush, tranquil private courtyard with a custom water feature, tropical landscaping and a grassed area off to the side offering plenty of room for play or gardening. Sunny and spacious living room offers a modern fireplace and can easily be utilized as a fourth bedroom. All the other bedrooms are extremely spacious and offer stunning views. Massive dual master suites. All new fresh paint throughout. Tesla charging station in the garage. 

2644 Costebelle Dr, La Jolla, CA 92037

2644 Costebelle Dr, La Jolla, CA 92037

2644 Costebelle Dr, La Jolla, CA 92037

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       1799 Oakville Grade, Napa, CA with 5 bedrooms, 10 baths and 10,811 sq.ft. 
is listed for sale at $18,000,000.

Distinguished French country estate on 54 +/- acres offers luxury, relaxation and refined Napa Valley living. Prime Oakville location with sweeping east-facing valley floor and mountain views. Unmatched authenticity and craftsmanship. Magnificent main residence including 350 case wine cellar and tasting room. 2 bed, 2 bath guest house and, 1 bed 1 bath caretaker's house. 5-car indoor parking. 1.5 +/- acre Cabernet Sauvignon vineyard. Pool, tennis court, Bocce court, walking paths with vista retreats, gorgeous formal and cutting gardens. Privacy abounds.

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       5246 145th Place SE, Bellevue, WA 98006 with 5 bedrooms, 5 baths 
and 7,950 sq.ft. is listed for sale at $3,888,000.

Adorning an awe-inspiring, panoramic view second to none, enjoy unwinding to multi-colored sunsets over the downtown Bellevue and Seattle skylines, Lake Washington and the Olympic Mountains. Walk through the front doors to be greeted by a beautiful glass chandelier and spiral staircase which set the tone for this impeccable three-story home built in 2005. Designed with every story in mind, the lower level features a theater room with reclining chairs and large viewing monitor, a fully appointed mother-in-law or guest suite with separate kitchen and bath, and a 4-car garage. Continue upstairs to the main level dedicated to the home's sleeping quarters. Three oversized bedrooms on one wing, venture down the hallway past the sauna and Jacuzzi hot to a private master suite with spa-inspired bath and incredible walk-in closet. Meander up the staircase another level or take the elevator to the upper level dedicated to the living spaces. An expansive dining room in the middle with dome skylight overtop and floor-to-ceiling windows that take advantage of the view, enjoy hosting large parties through the open floor concept throughout the entire upper level. To the right of the dining room features a more intimate living space and adjacent meditation room, while to the left features a gourmet kitchen with oversized center island and top-of-the-line appliances featuring Dacor and Viking that opens up to a large deck and adjoining family room. From the solid maplewood finishes to the granite and bamboo flooring, to the stunning architecture and breathtaking views from nearly every room, you will love making memories in this home whether enjoying a peaceful morning from one of the property's many decks or entertaining for the masses! 

Today's Top Real Estate News

Foreign U.S. Home Sales Dollar Volume Surges 49 Percent to Record $153 Billion

NAR Media Contact: Adam DeSanctis 

WASHINGTON (July 18, 2017) – Fueled by a substantial increase in sales dollar volume from Canadian buyers, foreign investment in U.S. residential real estate skyrocketed to a new high, as transactions grew in each of the top five countries where buyers originated.
This is according to an annual survey of residential purchases from international buyers released today by the National Association of Realtors ®, which also revealed that nearly half of all foreign sales were in three states: Florida, California and Texas.

NAR found that between April 2016 and March 2017, foreign buyers and recent immigrants purchased $153.0 billion of residential property, which is a 49 percent jump from 2016 ($102.6 billion) and surpasses 2015 ($103.9 billion) as the new survey high1. Overall, 284,455 U.S. properties were bought by foreign buyers (up 32 percent from 2016), and purchases accounted for 10 percent of the dollar volume of existing-home sales (7 percent in 2016).

“The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year,” said Lawrence Yun, NAR chief economist. “While the strengthening of the U.S. dollar in relation to other currencies and steadfast home-price growth made buying a home more expensive in many areas, foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest.”

Although China maintained its top position in sales dollar volume for the fourth straight year, the significant rise in foreign investment in the survey came from a massive hike in activity from Canadian buyers. After dipping in the 2016 survey to $8.9 billion in sales ($11.2 billion in 2015), transactions from Canadians this year totaled $19.0 billion – a new high for Canada.

Yun attributes this notable rise in activity to Canadians opting to buy property in U.S. markets that are expensive but still more affordable than in their native land. While much of the U.S. continues to see fast price growth, home price gains in many cities in Canada have  been steeper, especially in Vancouver and Toronto.

“Inventory shortages continue to drive up U.S. home values, but prices in five countries, including Canada, experienced even quicker appreciation2,” said Yun. “Some of the acceleration in foreign purchases over the past year appears to come from the combination of more affordable property choices in the U.S. and foreigners deciding to buy now knowing that any further weakening of their local currency against the dollar will make buying more expensive in the future.”

Foreign buyers typically paid $302,290, which was a 9.0 percent increase from the median sales price in the 2016 survey ($277,380) and above the sales price of all existing homes sold during the same period ($235,792). Approximately10 percent of foreign buyers paid over $1 million, and 44 percent of transactions were all-cash purchases (50 percent in 2016).

Foreign sales rise in top five countries; three states account for nearly half of all purchases

Buyers from China exceeded all countries by dollar volume of sales at $31.7 billion, which was up from last year’s survey ($27.3 billion) and topped 2015 ($28.6 billion) as the new survey high. Chinese buyers also purchased the most housing units for the third consecutive year (40,572; up from 29,195 in 2016).

Rounding out the top five, the sales dollar volume from buyers in Canada ($19.0 billion), the United Kingdom ($9.5 billion), Mexico ($9.3 billion) and India ($7.8 billion) all increased from their levels one year ago.

This year’s survey once again revealed that foreign buying activity is mostly confined to three states, as Florida (22 percent), California (12 percent) and Texas (12 percent) maintained their position as the top destinations for foreigners, followed by New Jersey and Arizona (each at 4 percent). Florida was the most popular state for Canadian buyers, Chinese buyers mostly chose California, and Texas was the preferred state for Mexican buyers.

Sales to resident foreigners and non-residents each reach new peak

The upswing in foreign investment came from both recent immigrants and non-resident foreign buyers3 as each increased substantially to new highs. Sales to foreigners residing in the U.S. reached $78.1 billion (up 32 percent from 2016) and non-resident foreign sales spiked to $74.9 billion (up 72 percent from 2016).

“Although non-resident foreign purchases climbed over the past year, it appears much of the activity occurred during the second half of 2016,” said Yun. “Realtors® in some markets are reporting that the effect of tighter regulations on capital outflows in China and weaker currencies in Canada and the U.K. have somewhat cooled non-resident foreign buyer interest in early 2017.”

Looking ahead, Yun believes the gradually expanding U.S. and global economies should keep foreign buyer demand at a robust level. However, it remains to be seen if both the shortage of homes for sale and economic and political headwinds end up curbing sales activity to foreigners.

“Stricter foreign government regulations and the current uncertainty on policy surrounding U.S. immigration and international trade policy could very well lead to a slowdown in foreign investment,” said Yun.

NAR’s 2017 Profile of International Activity in U.S. Residential Real Estate, conducted April 10 through May 1, surveyed a sample of Realtors ® to measure the share of U.S. residential real estate sales to international clients, and to provide a profile of the origin, destination, and buying preferences of international clients, as well as the challenges and opportunities faced by Realtors® in serving foreign clients. The survey presents information about transactions with international clients during the 12-month period between April 2016 and March 2017. A total of 5,998 Realtors® responded to the 2017 survey.

The 2017 Profile of International Activity in U.S. Residential Real Estate can be ordered by calling 800-874-6500, or online at www.nar.realtor/prodser.nsf/Research . The report is free to NAR members and accredited media and costs $149.95 for non-members.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Today's Mortgage Rates

Mortgage Rates Higher Despite Friendly Market Move 
Jul 17 2017, 4:59PM

Mortgage rates are largely dictated by movements in bond markets--specifically mortgage-backed securities (MBS).  When bonds improve, prices rise and investors are willing to pay more to buy loans.  This results in rates moving lower.  In other words, bond market improvement = lower rates.

With all of that in mind, today is a bit of a paradox as the average lender is quoting slightly higher rates today, despite general improvements in bond markets.  Nothing too terribly mysterious is at work here though.  The inconsistency has more to do with the timing of Friday's market movements and the generally narrow range over the past four days. 

Specifically, bonds weakened progressively into Friday afternoon and most lenders never fully adjusted rate sheets to account for that weakness.   This left the average lender at a disadvantage to begin the new week and today's gains in bond markets weren't enough to offset it.

The most prevalently-quoted conventional 30yr fixed rates remain in a range from 4.0%-4.125% on top tier scenarios.  Most clients will not see any change in the "rate" side of the equation compared to Friday, thus implying moderately higher upfront costs. 

52 Week
30 Yr FRM4.07%4.06%+0.013.37%4.39%
15 Yr FRM3.35%3.34%+0.012.72%3.61%
FHA 30 Year Fixed3.75%3.75%--3.15%4.10%
Jumbo 30 Year Fixed4.36%4.35%+0.013.47%4.60%
5/1 Yr ARM3.21%3.22%-0.012.80%3.25%
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.


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: