Friday, August 4, 2017


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


#1      6 Olde Towne Lane, Southampton, New York 11968 with 10 bedrooms, 13 baths and 23,000 sq.ft. is listed for sale at $34,950,000.

Set on 4 +/- landscaped acres in the heart of the luxury enclave of Olde Towne, "Summer House" is John Kean's newest estate complete with pool, pool house, tennis court and three-car detached carriage house. Pristine details articulate three levels of distinctive luxury and comfort. Refreshing, modern appointments and state of the art amenities dovetail with Kean's award-winning design and construction. The pool house features a lounge, kitchenette, 2 full baths and changing room. A wonderful canopy veils the pool house terrace providing shade for dining or relaxation. The grounds offer decorative, automated security gates that open to reveal a manicured, meticulous landscape, bordered by a classic Hamptons' privet hedge. A 60' x 30' custom Gunite swimming pool with extensive sun-shelves for chaise lounges and a generous spa sit directly off the pool house terrace. Expansive terraced entertaining spaces are set in and amongst vivid garden beds and open, level lawn area. A sunken, walled and seated gas fire pit and sunken Deco turf tennis court complete with decorative lattice fencing and a pergola covered viewing area augment the exterior amenities. There is ample space for a golf hole to complement the rooftop putting green. A verdant, treed periphery maintains privacy as well as classic "Hamptons" beauty throughout the Olde Towne estate.























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      1221 Minorca Drive, Pacific Palisades, CA 90272 with 6 bedrooms, 9 baths and 8,472 sq.ft. is listed for sale at $9,995,000.



This timeless Tuscan villa sits on a huge corner lot in the prestigious Palisades . The 6 bedroom and 9 bathroom home exudes European elegance with soaring ceilings and impeccably detailed finishes throughout . Enter into the exquisite living room through curved doorways just opposite of a formal dining room ideal for entertaining. The Chef's kitchen is equipped with state of the art appliances and filled with natural light , and just steps away turn into the cozy family room that looks onto theLush resort like backyard with pool, spa and barbecue. A den, two charming en suite bedrooms and laundry room reside on the main level. Walk upstairs to the breathtaking master suite complete with fireplace , large walk in closet, his and hers bathrooms and an outdoor deck. Three additional beautiful bedroom suites and an expansive library complete the 2nd floor. The basement level is equipped with a home theater , gym, wine cellar and tasting room. An entertainers dream.

1221 Minorca Drive, Pacific Palisades, CA 90272 Home For Sale - MLS #15896949
1221 Minorca Drive, Pacific Palisades, CA 90272 Home For Sale - MLS #15896949
1221 Minorca Drive, Pacific Palisades, CA 90272 Home For Sale - MLS #15896949
1221 Minorca Drive, Pacific Palisades, CA 90272 Home For Sale - MLS #15896949
1221 Minorca Drive, Pacific Palisades, CA 90272 Home For Sale - MLS #15896949
1221 Minorca Drive, Pacific Palisades, CA 90272 Home For Sale - MLS #15896949
1221 Minorca Drive, Pacific Palisades, CA 90272 Home For Sale - MLS #15896949
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      12971 North Jims Deadend Place, Marana, AZ 85658 with 4 bedrooms, 6 baths and 5,717 sq.ft. is listed for sale at $3,425,000.
Dramatic Ron Robinette designed southwestern contemporary through the tunnel in the mountain top prestigious, gated Saguaro Ranch. Located at the end of a cul-de-sac on private 4.75 acre lot with panoramic mountain and valley views, this architecturally significant home offers 4594 sq.ft. main house including a library with built-ins and world class media room. The 1162 sq.ft.detached  guest house includes  2 bedroom plusa  living room and kitchenette. A long and winding paver driveway leads to the grand entry with stone walls, wood ceiling, arched glass and wood front door into foyer with Venetian plaster walls. Stunning stone and custom carpet flooring throughout.


















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     5564 Calumet Avenue, La Jolla CA 92037 with 2 bedrooms, 3 baths 
and 2,009 sq.ft. is listed for sale at $5,295,000.


La Jolla Oceanfront!  Escape to this recently re-built custom beach house. Exceptional custom features throughout, modern architectural design and luxury finishes. Amazing indoor/outdoor living spaces. One-of-a-kind home features two expansive oceanfront entertainment decks with fire pit and spa perfect for unobstructed sunset views over the Pacific. Multi-purpose basement space, over-sized 2 car garage, Chef's Kitchen w/ Miele built in appliances. Great room w/fireplace. Escape to your beach house. Recent custom re-build. Nestled on a La Jolla bluff-top with amazing all day and night views. Entry wall fountain. Custom front door with wave etched privacy glass. Great Room with custom wood floors & built-ins. Slate stone fireplace. Expansive Ocean viewing windows indoors to over-sized outdoor entertainment decks accented by ocean view spa & warming fire-pit. 










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      360 Bay Way, San Rafael, CA 94901 with 5 bedrooms, 7 baths and 14,765 sq.ft. is listed for sale at $6,195,000.


Privately located near the end of Bay Way, a gated drive leads to a motor court and grand entrance. The sprawling home is entered through a double-height foyer off the main gallery which runs the length of main level, featuring expansive living, dining and entertaining areas, a gourmet kitchen with butler's pantry, breakfast room and sitting area, and two en suite guest rooms. A triple-height grand staircase leads to the upper level gallery, a large master suite with sitting area, lavish master bath and ample closets, and a separate guest's quarters with private entrance, full bath, music room and office. The lower level is an entertainer's paradise with a recreation/billiard room, lounge area, bedroom and 46-ft indoor pool. Originally built in 1986 by the publisher of the Marin Independent Journal, the estate has been meticulously updated to reflect the needs and aesthetics of today's discerning buyers. A four-car garage, multiple terraces, artist's studio and verdant, established gardens complete this rare waterfront estate. 








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      2946 Fuhram Avenue East, Seattle, WA 98102 with multi building complex including stand alone 3 bedroom, 2 baths and 2,470 sq.ft. home and 3 rental units
is listed for sale at $4,995,000.


Legendary Portage Bay waterfront property on 2 tax lots, from street to end of dock, w/50 feet of waterfront, 6 residences in 4 structures including a charming 1937 Cape Cod, a majestic triplex with sweeping water views, 2 dock homes on a private pier, a 2-car garage + a separate shop and large storage building. Originally owned by The Fuhrman Family, and later by Seattle restaurant icon Ivar Haglund, this extraordinary residential compound comes with happy long-term tenants and unrivaled potential.










Today's Top Real Estate News  

Luxury home prices soar as sellers come back down to earth


6  Offshore Drive, Newport Beach CA 92657 with 6 bedrooms, 7 baths and 7,828 sq.ft. 
is listed for $6,998,000.

By Diana Oleck
CNBC
  • Sale prices of luxury homes in the second quarter of this year were up 7.5 percent from a year ago, the first time luxury gains have outpaced the rest of the market since 2014.
  • The real reason for the luxury recovery may be a shift in the mind of sellers: They were asking too much, and now that they're asking less, there is more action in the market.
  • Luxury home sales have been rising steadily, causing the supply of those homes for sale to drop.
The slump in the swankiest sector of the housing market appears to be over, and, ironically, it may be due to a dose of reality among sellers. 

Sale prices of luxury homes in the second quarter of this year were up 7.5 percent from a year ago, the first time luxury gains have outpaced the rest of the market since 2014, according to Redfin, a real estate brokerage which defines luxury as the top 5 percent of the most expensive homes sold in each city in each quarter.

While some point to the recent runup in the stock market, the real reason for the luxury recovery may be a shift in the mind of sellers. They were asking too much, and now that they're asking less, there is more action in the market, in turn boosting prices again.

"There have been several years of a large disconnect between luxury sellers and market conditions, and what we've noted in all our research is that sellers are now much more willing to travel farther to meet the buyers," said Jonathan Miller, president and CEO of Miller Samuel, a real estate appraisal and consulting firm that compiles market reports for Douglas Elliman, a real estate brokerage.

Miller points to a recent $15 million sale of a Brooklyn, New York, home. While the closing price was high, it sold at a 40 percent discount to its original list price, and the home took seven years to sell.

Luxury home sales have been rising steadily, causing the supply of those homes for sale to drop. Sales of homes priced above $1 million jumped 19 percent in June compared with a year ago, according to the National Association of Realtors. That was a much larger sales gain than in any of the lower price points.

The sales surge has caused a decline in the supply of luxury homes. Listings at or above 
$1 million fell 9.4 percent compared with the same period last year, according to Redfin. Those priced at or above $5 million were down about the same. This after five consecutive quarters of double-digit inventory growth.

"The housing shortage is now affecting the top of the housing market," said Redfin's chief economist, Nela Richardson. "Yet despite the strong uptick in prices, the luxury market is not nearly as competitive as the rest of the market. Only 1 in 50 luxury homes sold above list price in the second quarter, compared to more than 1 in 4 homes in the bottom 95 percent."

In one of the nation's most expensive local markets, the Hamptons on Long Island, New York, sales in the first half of this year were at the highest level in two years, with the rise skewed to the high end of the market, according to Douglas Elliman. This after sales slumped in 2016.

The same is true in Aspen, Colorado, where a surge in sales is overpowering supply. Single-family sales more than tripled in the second quarter of this year compared with a year ago, and condo sales nearly doubled. Sellers are meeting the reality of the market.



Today's Mortgage Rates
Mortgage Rates Lowest in Just Over a Month
Aug 3 2017, 3:28PM

Mortgage rates moved just slightly lower today, bringing them to the best levels in over a month for the 2nd time this week.  While that sounds somewhat impressive, day-over-day movement has been very small and the overall range has been very narrow during that time.  For most prospective borrowers, a scenario quoted last week would be at the same rate this week, but with lower upfront costs.  Indeed, it's possible that a few quotes have moved .125% lower over that time, but upfront costs would likely be somewhat higher.  

Here's how the info above would break down specifically.  Borrowers being quoted the same rate vs last week are looking at an average upfront cost savings of roughly 0.3%, or $300 for every $100,000 borrowed.  Clients being quoted the next rate lower (in 0.125% increments) are looking at average upfront cost increase of roughly the same amount.  That $300 in upfront cost is worth roughly 7 bucks a month.

Tomorrow brings the important Employment Situation (the big jobs report, aka "nonfarm payrolls"), which always has the potential to cause volatility for rates.  In the current environment, the markets that underlie rates have been relatively less focused on labor market data and more interested in inflation metrics (because that's what the Fed is most interested in).
52 Week
ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.98%3.99%-0.013.37%4.39%
15 Yr FRM3.28%3.29%-0.012.72%3.61%
FHA 30 Year Fixed3.65%3.67%-0.023.15%4.10%
Jumbo 30 Year Fixed4.27%4.29%-0.023.47%4.60%
5/1 Yr ARM3.17%3.16%+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.

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