Sunday, August 13, 2017

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

#1      1175 North Hillcrest Road, Beverly Hills, CA 90210 with 7 bedrooms, 11 baths and 5,926 sq.ft. is listed for sale at $100,000,000.

"Opus" Billionaire's Row - Beverly Hills. Celebrated by CNBC as The Most Expensive Street in America. Ravishing Architectural Estate designed by Paul McClean. Over 1 acre. Jetliner Views. 2 Swimming Pools. Beauty Salon. Cinema. Cristal Champagne Room. Car Museum. Legend Status.

Image result for 1175 north hillcrest road interior photos

Alluring: The dining area inside the abode has the perfect amount of room at the table to comfortably host friends and family for an amazing meal 

Ideal: The exquisite mansion wouldn't be complete without the gourmet show kitchen with an iPad controlled top brewer as it's steps away from the outdoor pool

Fresh: The Opus, which is listed by Hilton & Hyland with listing agent Drew Fenton, comes complete with seven bedrooms, as the one pictured above features an amazing view of Los Angeles 

Comfortable: The curved screening room comfortably allows 15 people to enjoy an evening of entertainment inside the area within the mansion

Breathtaking: The deck area immediately outside of the home features a cozy fire pit surrounded by a gorgeous seating area that's just steps away from the outdoor pool

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 6.8% over the past year, Zillow predicts hey will increase 1.5% within the next year.

The median home value in Brentwood, 90049 is $2,398,800. Brentwood home values have gone up 2.1% over the past year.  Zillow predicts they will igo down ( 0.3%) within the next year

The median home value in Malibu is $2,906,700.  Malibu home values have gone up 5.3% over the past year.  Zillow predicts they will increase 1.1% within the year.

The median home value in Bel Air, 90077 is $3,278,800  Bel Air home values have gone up 2.8% over the past year.  Zillow predicts they will go down  (-0.3) within the year.

The median home value in Beverly Hills 90210 is $4,895,000.  Beverly Hills home values have gone up 4.2% over the past year.  Zillow predicts they will increase 1.3%  within the next year. 

#1      6201 Murphy Way, Malibu, CA 90265 with 5 bedrooms, 8 baths and 7,940 sq.ft. 
is listed for sale at $10,495,000.

Reminiscent of a grand Tuscan villa, this masterfully built home is situated on over 11 acres and boasts panoramic views from the bluffs of Point Dume to the Queen's necklace. Gated entrance leads to a spacious olive tree-lined motorcourt. The foyer gives way to a high beamed-ceiling yet intimate living room. Chef's island kitchen flows into a large family room with fireplace. Beautiful indoor / outdoor flow which lead to a resort style infinity pool, immaculately maintained landscaping, outdoorkitchen and multiple entertaining / dining areas. Luxurious master with spa-like bath, walk-in closet and a private wrap around sun deck. Three additional en suite bedrooms. 6+ car garage. Professional home theater, stunning office, gym, billiards room as well as a guest suite with sep. entrance. Ample room for guest parking within gates.

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 $423,300. Scottsdale home values have gone up 3.3% over the past year.  Zillow predicts they will increase 2.5% within the next year. 

The median home value in Carefree is $755,700. Carefree home values have gone up 5.3% over the past year.  Zillow predicts they will increase 2.9% within the next year.

The median home value in Paradise Valley is $1,612,400.  Paradise Valleyhome values have gone up 1.6% over the past year. Zillow predicts they will increase 2.2% within the next year.

#1      6044 East Foothills Drive, Paradise Valley, AZ 85253 with 5 bedrooms, 7 baths and 6,250 sq.ft. is listed for sale at $4,300,000.

Exceptional French Country estate on 1.4 acre lot with breath taking city light and mountain views! Nance Construction and Berghoff landscaping, no detail was overlooked or expense spared! Enter the front courtyard into a European oasis. Imported tiles, reclaimed brick flooring, hand plastered walls and ceilings with hand carved living room fireplace. This home is as comfortable as it is elegant. Cozy patios off the bedrooms, in the courtyard and all along the back. Detached 1 bd casita with kitchenette and living room opens up to the courtyard fireplace. Gourmet french country kitchen, wine cellar, 4 en-suite bd in main house with a guest wing family room. 5 car garage with large motor court. This is authentic French Country architecture you will love! 

Today's Top San Diego Luxury Estate 

The median home value in San Diego County is $548,000. San Diego County home values have gone up 6.9% over the past year. Zillow predicts they will remain even 4.1% within the next year.

The median home value in Coronado is $1,475,900. Coronado home values have gone up 1.4% this past year.  Zillow predicts they will increase 3.7% within the next year.

The median home value in La Jolla, 92037 is $1,486,900. La Jolla, 92037 home values have gone up 2.5% this past year.  Zillow predicts they will increase 2.8% within the next year.

The median home value in Solana Beach 92075 is $1,307,200. Solana Beach 92075 home values have gone up 4.4% this past year. Zillow predicts they will rise 3.7%% within the next year.

The median home value in Del Mar 92014 is $1,605,100 Del Mar home values have gone up 1.3% over the past year.  Zillow predicts they will increase 3.3% within the next year.

The median home value in Rancho Santa Fe is $2,636,800. Rancho Santa Fe home values have increase 1.1% over the past year and Zillow predicts they will increase 1.3% within the next year.

#1      2932 Camino Del Mar, Del Mar, CA 92014 with 4 bedrooms, 5 baths 
and 4,620 sq.ft. is listed for sale at $19,950,000.

Upon entering the private gate of this notable Midcentury style Sim Bruce Richards designed home, you can't help but exhale as the gable of its cedar pitched roof comes into view. A trellised arbor leads you past a 1BD/1BA guest house, leaving you in the expansive, tranquil garden courtyard complete w/ a pool & spa at its heart. Enter the main 3BD/4BA home w/ exquisite, natural layers of wood, brick, stained glass, stone, beams & floor to ceiling windows framing the 60 waterfront deck & vast blue ocean.The essence of this gorgeous half acre property rests in the award winning design, materiality & remarkable location. A rare California Coastal Connection - where the land and home are one.

Today's Top San Francisco Luxury Estate

Image result for San Francisco skyline pictures

The median home value in San Francisco is $1,204,700. San Francisco 
home values have gone up 7.2% over the past year.  Zillow predicts they will decrease by 1.6% within the year.

The median home value in Sausalito is $1,271,200. Sausalito home values have gone up 5.7% over the past year. Zillow predicts they will rise 1.5% within the next year. 

The median home value in Tiburon is $2,468,800. Tiburon home values have gone up 3.7% over the past year.   Zillow predicts they will rise increase 0.8% within the next year. 

The medium home value in Saratoga is $2,471,300.  Saratoga home values have gone up 4.6% this past year.  Zillow predicts they will increase 1.0% within the next year. 

The median home value in Atherton is $6,406,300. Atherton home values have gone up 8.5% over the past year and Zillow predicts they will increase 1.5% within the next year.

#1       850 Steiner Street, San Francisco, CA 94117 with 5 bedrooms, 5 baths and 4,125 sq.ft. is listed for sale at $5,650,000.

Truly a rare opportunity to own an iconic SF home. This row of PRICELESS postcard Victorians on this block of Alamo Square have long been referred to as the Painted Gentlemen'' and are perfectly situated with picture perfect views of the park. 3 floors beautifully remodeled. Top floor has 3 bedrooms, including 2 masters, all with  ensuite baths. Features include downtown views, incredible stained glass, hardwood floors, spectacular architectural period details throughout. 2 car s/s parking, laundry rm and walk out deck off remodeled kitchen leading to beautifully landscaped yard wi mature trees. Don't miss what could be a once in a life time chance to own this home. 

Today's Top Seattle Luxury Estate

Image result for Seattle 
The median home value in Kirkland is $677,400.  Kirkland home values have gone up 18.2% over the past year.  Zillow predicts they will rise 8.7% within the next year.

The median home value in Seattle is $682,300. Seattle home values have gone up 15.2% over the past year. Zillow predicts they will rise 7.0% within the next year.

The median home value in Bellevue is $833,800. Bellevue home values have gone up 156.2% over the past year. Zillow predicts they will rise 8.0% within the next year. 

The median home value in Mercer Island is $1,410,600, Mercer island home values have gone up 11.1% over the past year.  Zillow predicts they will rise 6.9% with the next year.

The median home value in Clyde Hill is $2,480,800. Clyde Hill home values have gone up 13.9% over the past year. Zillow predicts they will rise 7.5% within the next year.

The median home value in Medina is $2,590,300. Medina home values have gone up 15.1% over the past year and Zillow predicts they will rise 7.4% within the next year.

#1      7406 North Mercer Way, Mercer Island, WA 98040 with 4 bedrooms, 5 baths 
and 7,907 sq.ft. is listed for sale at $8,500,000.

WATERFRONT! Stunning NW Craftsman with nearly 60 ft of no bank waterfront, on the coveted N End of Mercer Island. Sweeping views of DT Bellevue and Meydenbauer Bay. You will love the exquisite finishes and how the builder incorporated stone, wood and glass without sacrificing function. It is truly a work of art. Entertain on one of your many decks or simply enjoy the peace and serenity as you warm your toes by the fire.Standalone guest house welcomes your guests with privacy and convenience.

Today's Top Real Estate News  

Real Estate Billionaires Form Rental Giant in Shifting Industry

It was a simple phone call between two real estate billionaires that led to the formation of a behemoth in the house-rental industry.

Property investor Barry Sternlicht called Jon Gray, head of real estate for Blackstone Group LP, in the spring proposing a combination of Starwood Waypoint Homes, of which Sternlicht is chairman, and Invitation Homes Inc., majority-owned by Blackstone. The companies announced the $4.3 billion merger Thursday after months sorting out the details, creating a company that will be the largest U.S. single-family landlord, with 82,000 homes across the country.

The move further consolidates the still-young industry for corporate ownership of house rentals, leaving two large public companies. Private equity firms and hedge funds, led by Blackstone, spent hundreds of millions of dollars a month in the aftermath of the housing crisis to buy homes at distressed prices, building businesses that eventually were big enough to go public. Now, with property values soaring and foreclosures slowing to a trickle,  landlords are combining to gain scale and hone their operations.

“This merger gives the industry more credibility now that there’s a more than $10 billion company, bigger than some apartment real estate investment trusts,” said Jade Rahmani, an analyst at Keefe, Bruyette & Woods Inc. “It makes it a more investable sector with consistent returns.”

Shares of Starwood Waypoint jumped 5.2 percent Thursday to $35.35 at 3:16 p.m. New York time, while Invitation Homes rose 3.6 percent to $21.74. Blackstone’s 70 percent stake in Invitation Homes will be reduced to 41 percent of the combined company, according to the firm.

Housing Bet

In forming the new real estate asset class, Wall Street was betting on unprecedented demand for rentals from people who lost residences to foreclosure or were unable to get mortgages as banks tightened lending standards. Together, the private equity firms and hedge funds institutionalized a business traditionally run by mom-and-pop investors and gave America a new way to think about rental housing, with standardized renovations, call centers and technology that simplifies processes for tenants.

So far, their bets have paid off. Invitation Homes, already the largest company in the industry, had a $1.8 billion initial public offering in January, and its shares are up more than 8 percent since. American Homes 4 Rent, the second-biggest house-rental landlord, has gained almost 40 percent since its 2013 IPO.

Yet the companies have had to adapt as the housing market stabilizes. In the past couple of years, Invitation Homes has made more targeted acquisitions and sold properties that no longer fit its business model. Starwood has grown by merging with Waypoint Real Estate Group and then Tom Barrack’s Colony American Homes. American Homes 4 Rent has turned its eyes to acquiring land and building new homes strictly to rent.

“The easy money has been made,” said Carl Bell, an early investor in the single-family rental industry and co-head of investments at Washington-based Invictus Capital Partners. “From here it’s about operational and financing efficiency to help drive returns. Scale is key.”

Cost Savings

Invitation Homes and Starwood Waypoint say their transaction is expected to create annual savings of $45 million to $50 million. The new company, which will keep the Invitation Homes name and will be based in Dallas, will have about 5,000 homes in each of its markets and an 83 percent overlap, with a concentration in places such as Southern California, Phoenix and South Florida. That’s necessary when taking into account the costs associated with managing scattered site properties.

Those added expenses have driven some smaller investors, such as Axonic Properties LLC, out of the business. The firm is selling its houses, mostly to first-time homebuyers, and  buying apartments in Florida.

“The only way the single-family home business works long term is if operators have massive efficiencies of scale,” said Jonathan Shechtman, managing principal at Axonic. “Otherwise the costs of things like repairs and maintenance on houses, which each have a different floor plan, may have higher expenses when compared to apartments.”

Rates, Buyers

The biggest threat to the single-family landlords is rising interest rates, said Rahmani of Keefe Bruyette.  Homebuilders are also increasingly targeting entry-level buyers in some of the same markets where these large rental firms operate. D.R. Horton Inc., the largest homebuilder in the U.S., is seeing growth in its Express brand, aimed at people in their 20s and 30s, the biggest generation of buyers. A major loosening of credit could have a larger impact on the firms as more renters than expected turn into buyers.

That doesn’t seem to be playing out yet. Starwood Waypoint Chief Executive Officer Fred Tuomi, who will lead the combined company, said on a conference call Thursday that rental demand is even stronger than it was five years ago, when he first got involved with the landlord.

“We have a tremendous advantage of cost of capital as well as our scale,” he said. “We’re positioned to win for the long term.”

Today's Mortgage Rates
Mortgage Rates Uninspired at 9-Month Lows
Aug 11 2017, 5:40PM

Mortgage rates held near the lowest levels since November 2016 today, after a key economic report showed subdued inflation.  The Consumer Price Index (CPI) is one of the most important metrics relied upon by the Fed when it comes to measuring the impact of its policies.  In general, if inflation is increasing or running higher than expected, the Fed will be more inclined to raise rates.  Although the Fed Funds Rate doesn't directly impact mortgage rates, anything that increases the likely pace of Fed rate hikes would also tend to push mortgage rates higher.

With today's report coming in slightly weaker than expected, rates had no reason to move higher.  But true to recent form, they weren't able to find much inspiration to move lower either.  Most lenders remained perfectly unchanged compared to yesterday's latest levels, though a few were slightly higher or lower.                        
                                                                                                                        52 Week

30 Yr FRM3.96%3.96%--3.37%4.39%
15 Yr FRM3.24%3.25%-0.012.72%3.61%
FHA 30 Year Fixed3.60%3.60%--3.15%4.10%
Jumbo 30 Year Fixed4.24%4.25%-0.013.47%4.60%
5/1 Yr ARM3.17%3.16%+0.012.80%3.25%

Thanks for reading "Today's Best Mansions"

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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: