Monday, August 14, 2017

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

#1   750 Bel Air,   the iconic estate, known as "Chartwell" and the crown jewel of Bel Air, totaling more than 10.3 acres, 10 bedrooms, 12 baths and more then 25,000 sq.ft. with a 5,500 sq.ft. guest house is one of the nation's most coveted and elite enclaves now listed on the market at $350,000,000.

Iconic Bel Air Estate Introduced to the Market for the First Time in 30 Years for $350 Million

Built in 1933 by architect Sumner Spaulding, the residence was enhanced and restored under the direction of the recently deceased owner, Mr. A. Jerrold Perenchio, after he purchased the estate in 1986. Mr. Perenchio engaged renowned designer Henri Samuel, known for his work on estates owned by the Vanderbilts, Rothschilds and Valentino, to redesign Chartwell. Over the subsequent 30 years' adjacent properties were acquired to expand the estate, including a Wallace Neff guest house and a long private driveway. Inspired by 18th Century French Neoclassical design, the main residence is approximately 25,000 sq. ft. in size and poised for entertaining in grand style. Features include exquisitely detailed limestone facade, a ballroom, world-class wine cellar, formal salon and period- paneled dining room. The remarkable grounds encompass expertly manicured gardens, a tennis court, covered parking for 40 cars, 75-foot pool and fully equipped pool house, all set against sweeping panoramic views of downtown Los Angeles and the Pacific Ocean. The mansion sits on the sprawling property, which also touts a tennis court, a guest house designed by architect Wallace Neff, manicured gardens, a 75-foot pool and pool house, and a shielded parking area that fits 40 cars.

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Atkinson/Kirkeby Mansion. 750 Bel Air Road. Estate Built 1930-1940. Interior Design by Henri Samuel. The Beverly Hillbillies House. Book: The Legendary Estates of Beverly Hills

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Beverly Hillbillies mansion (5 of 8)

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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      29208 Cliffside Drive, Malibu, CA 90265 with 7 bedrooms, 8 baths 
and 7,674 sq.ft. is listed for sale at $25,750,000.

Grand European-style estate with 100' of bluff top panoramic ocean views on prestigious Point Dume. Masterfully re-decorated and sparing no expense in improvements over the past year, this gated/private 2-story, 7 bdrm, 8 bath home w/hardwood and stone flrs throughout is a superb blend of modern elegance and impeccable craftsmanship. With ocean views throughout, the 1st level offers an elegant 2-story entry w/floating staircase; fml living rm w/fireplc & dining rm; gourmet kitchen w/high-end appliances, central island & breakfast nook; cozy family room, gorgeous office w/full bath, and 2-en-suite bdrms. The 2nd level offers a sun-filled owner's suite w/stunning ocean view terrace, luxurious spa-like bath and vast closet; plus 4-addl en-suite ocean view bdrms w/terraces & steam/dry sauna. The apx 1.29 park-like acres w/multiple outdoor dining /sitting areas, BBQ island and pool/spa is perfect for lavish or intimate events. 3-car garage, covered 6-car structure, porte-cochere and ample guest parking.

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      6115 North 38th Place, Paradise Valley, AZ 85253 with 4 bedrooms, 7 baths 
and 7,448 sq.ft. is listed for sale at $4,175,000.
Paradise Valley DREAMS do come TRUE!!! This exquisite NEW CONSTRUCTION home, designed by renowned architect Jim Blochberger and built by Tinker Development is the one you have been waiting for! Designed for today's lifestyle, built with the highest quality materials and finished with the craftsmanship that one would expect. This home embodies PERFECTION! Located on a quiet acre+ with gorgeous mountain views, this Santa Barbara style home has expansive yet intimate spaces with interior finishesdesigned by K&Q Interiors for seamless style throughout. Pool / Guest house is 539 SF of designed living space, detached but shared roof. Four car garage + an auto court make entertaining easy. Professionally landscaped with a resort style pool to take full advantage of the mountain views.

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     530 Silvergate Avenue, San Diego, CA 92106  with 9 bedrooms, 12 baths and 15,600 sq.ft   is listed for sale at $6,476,000

The Rosecroft Estate, approximately 17,000 square feet under roof on about 2.5 acres in the prime wooded area. On the National Historic Registry under the Mills Act (approx. 70% reduction in property taxes). Main house built in 1912 by architect and master builder Emmor B. Weaver. Full two year rehab to the studs beginning in 1979. 5000 square feet added including basement with home theater, wine cellar, tennis court, detached gym, etc. A 25 kw solar system virtually eliminates electric bill.  Entire property is very private for being in the city, completely walled and gated. Mature landscaping, major trees planted in 1906. Rosecroft is one of the original and finest estates in San Diego. Property has been visited by Jimmy Carter, Ronald Reagan, "Dr Seuss", Jonas Salk and just about anybody who was/is anybody in San Diego. Many commercials, films, charity events and weddings of notable people have taken place here.

Today's Top San Francisco Luxury Estate

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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      2105 Mar East Street, Belvedere Tiburon, CA 94920 with 5 bedrooms, 5 baths and 3,096 sq.ft. is listed for sale at $4,395,000.
This is truly a stunning home. Completely remodeled in 2007. Turn key, craftsman home with all the charm and character retained yet offering super high end amenities. The fit and finish is second to none! Lower level separate entrance plumbed for washer dryer and full kitchen, fantastic opportunity for au pair? Stack washer/dryer upper level. Plenty of off street parking, gorgeous views! So close to town, ferry, shops, dining.

Today's Top Seattle Luxury Estate

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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      985 Belfair Lane, Bellevue, WA 98004 with 4 bedrooms, 4 baths and 4,155 sq.ft. is listed for sale at $3,488,000.
Stunning elegance! Beautifully appointed! Meticulously maintained! This incredible home is located just steps to downtown Bellevue in the sought after Vuecrest neighborhood. The kitchen is extraordinary, granite, stainless appliances and a huge island. The open great room features views of the growing Bellevue Skyline and opens to a large entertainment deck. The luxurious master suite is on the main floor allowing one level living. Circular drive and a large 3 car garage. Private corner lot.

Today's Top Real Estate News  

Where millionaires are moving to (and why) might surprise you.

By Jim Probasco

According to a recent study by New World Wealth, more high net worth individuals moved to Australia last year than to any other country. This was the second year in a row wealthy people favored Down Under over their second and third choices: the U.S. and Canada.

The study considered only millionaires who physically moved from one country to another for at least six months and defines “millionaire” as someone with $1 million or more in assets (not including his or her primary residence).

In 2016, 11,000 millionaires moved to Australia, 10,000 to the U.S., 8,000 to Canada, 5,000 to the United Arab Emirates and 4,000 to New Zealand, accounting for the top five destinations. In 2015. 64,000 moved to another country, while in 2016 the total was 82,000. That’s a net increase of more than 28%.

With so many wealthy individuals on the move, it’s not surprising that their reasons are varied. Education (for family members) and personal safety are the two most frequently stated reasons for emigrating, according to New World Wealth. Others include climate, healthcare and business opportunities. This is especially true for high net worth individuals moving to Australia from China, South Korea and India.

One of the least important reasons for millionaire migration is income taxes are higher than in their birth country. 

The increasing number of high net worth individuals who migrate highlights an aspect of wealth noted by Reaz H. Jafri of Withers Worldwide, a law firm that assists wealthy clients who want to relocate. “The wealthy today don’t have a country,” Jafri told The New York Times. “They don’t view their success as being related [to] or dependent on a single country, but on their own business strategies. It’s amazing to me how many of the very wealthy are going totally mobile.”

Australia’s gain, of course, is another country’s loss. The most frequent loser in 2016 was France, which saw 12,000 wealthy citizens leave it last year. China, with 9,000 emigrants, was next, followed by Brazil at 8,000. Rounding out the top five countries for millionaire decline were India and Turkey, with losses of 6,000 millionaires each.

As for the impetus leave, those emigrating from France cite high taxes and religious tensions as the main reasons for their exit. Recent terror attacks may be a contributing factor to the latter. It’s worth noting that rich people leaving France don’t do so for education and personal safety, the norm for most of the rest of the world. No matter the reasons, countries such as France and China care about these losses, because when millionaires leave, in most cases they take their wealth with them. 

The wealthy have an advantage not enjoyed by most immigrants. Visa programs for investors, also known as “golden-ticket visas” and officially called the special investor visa, are becoming increasingly popular with millionaires, who have the ability and inclination to invest in their new homeland. Strangely, so far at least, only one in five migrant millionaires uses these programs, the rest favoring the more traditional work transfers, second passports, ancestry visas, spousal visas or family visas.

Countries with attractive golden-ticket visa programs include Australia, which requires a $3.8 million investment, and the United States, with a $500,000 investment requirement. Canada recently dropped its main investor-visa program but retains others, which are used mainly by wealthy Chinese immigrants.

By the end of 2016, 13.6 million high net worth individuals with total accumulated wealth of $69 trillion lived somewhere on the planet. As noted above, the rich have greater freedom to live where they want. Although millionaires don’t care as much about tax rates as they do about access to education, personal safety and wealth protection, countries where they live do care. Wealthy individuals support the economy of their country of residence by paying taxes and through investments. As long as that is the case, where millionaires are moving to will continue to matter.

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: