Thursday, August 17, 2017

Today's Best Mansion:

It's lavish. It's huge. It's grand. It's expensive.

#1      5300 Prince Place, Jackson Hole, WY 83001 with 4 bedrooms, 6 baths and 11,500 sq.ft. is listed for sale at $28,000,000.

Picasso, Monet and Rembrandt all rolled into one beautiful home in a spectacular setting unlike any other in Jackson Hole. Enjoy living in a special piece of paradise that is truly one of a kind in one of the most beautiful places in the world. Enter off the private road crossing 3 Channel Spring Creek to the circular drive and gracious entrance to this idyllic property. A Jackson Hole masterpiece, this Tom Ward designed, Bancroft Construction built home captures the beauty of the majestic Tetons, ¾ of a mile of a conservation enhanced spring creek and exquisitely manicured grounds including a private golf practice and play area. The 11,500 square foot home sets new standards for contemporary design and quality throughout. The home is large enough for entertaining, enjoying family and friends but also designed to be intimate. Every room offers comfort and functionality with breathtaking views of the grounds and mountains. The living room with its exquisite combination of mahogany and maple and floor to ceiling windows emanate quality and comfort. The expansive windows look directly at the Grand and Teton Range overlooking the creek and golf holes. The multiple seating areas and wood burning fireplace further enhance comfort. The adjacent library and reading area has cozy reading spots and a fireplace as well.The 20-foot mahogany bar offers a great spot for entertaining or just "hanging out" while being next to the recreation room with its antique eight-foot pool table, big views of the outside and door to the patio.The large sound enhanced media room includes a 70-inch TV and houses the A/V systems.The dining room is able to easily host the large dinner party with tables allowing combination to comfortably seat 20 people or keep it simple and cozy for a smaller dinner.The large eat-in kitchen offers great working and watching spaces with a large center island and wrap around counter and walk-in pantry. The professional quality appliances include a Subzero refrigerator freezer plus a separate Subzero freezer, large six burner plus grill/griddle gas range, double oven, two dishwashers and microwave. The two private guest suites include king size beds, sitting area, full baths and doors to the large private guest deck.The large and wonderfully equipped office overlooks the landscaped grounds and creek directly facing the Tetons. The luxurious master suite has more stunning views of the Tetons, creek, pond and grounds of the property. A fireplace and ample sitting areas offer it truly as a place of comfort and refuge. The large patio area is located to take advantage of the multiple breath taking vistas of water, mountains and sky while also being able to observe the wildlife as they wander out of the woods. The Grand and entire Teton Range around to Sleeping Indian are visible from many locations in the home. The four bedroom, four full and two half bath home is being offered fully furnished excluding art. 

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      1255 Palisades Beach Road, Santa Monica, CA 90401 with 3 bedrooms, 4 baths and 3,197 sq.ft. is listed for sale at $5,995,000.

Extraordinary oceanfront architectural gem situated perfectly along the Santa Monica boardwalk just north of the pier. This modern architectural corner home features 180 degree sweeping ocean and coastline views that include sand, surf, boardwalk, famed Santa Monica Pier and Ferris wheel, Malibu, and Catalina Island. Design features include soaring double height ceiling in living room with loft hanging above and massive walls of glass framing this entire space. Master occupies entire top floor and features ocean view bathtub and shower. Large guest unit with its own private entrance, kitchen, and living space. Multiple decks throughout and an amazing rooftop patio. Perfect house for entertaining or kicking back solo and capturing world class sunsets from nearly all rooms. Unbeatable location with immediate access to Ocean Avenue, Third Street Promenade, Santa Monica Place, Farmers market, movie theaters, and more. 

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      9220 East Vereda Solona Drive, Scottsdale, AZ 85255 with 5 bedrooms, 9 baths and 9,450 sq.ft. is listed for sale at $2,990,000.

Private 5 acre estate with unparalleled city, sunset and mountain views. Designed by Allen Tafoya, this beautiful home offers flexible spaces for how you want to live featuring 2 guest casitas, nearly 3,000 sf of climate controlled garage space including a double RV garage - room to park over a dozen cars, fully equipped gym with sauna and steam shower, full sized tennis court & plenty of land for horses. The main home is ideal for family & entertaining with a large living room, gourmet kitchen and dining room that flow out to the covered patio and resort style backyard with negative edge pool and spa. The private deck off of the spacious master suite is the perfect place to take-in the Arizona sunsets and enjoy a fire on a cool night. Well located close to restaurants, grocery, shopping and hiking 

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      235 South Granados Avenue, Solana Beach, CA 92075 with 4 bedrooms, 6 baths and 4,008 sq.ft. is listed for sale at $7,995,000.

Privately situated on one of Solana Beach's premier streets, walking distance from the towns main drag, sits a stunning Bokal and Sneed designed Cape Cod style home on a rare, nearly half acre lot. Beginning with a gated courtyard garden entry, a charming shingle style facade and panoramic ocean views from the moment you enter, the impeccably maintained and breathtaking details are carried throughout this entire home.The gracefully scaled floor plan encompasses an incredible, state-of-the-art gourmet kitchen with a large adjacent dining area for entertaining family and friends, a gorgeous open living room with fireplace, and an impressive master suite with a fireplace, private patio, and an elegant marble bathroom. Not to be forgotten are 3 additional spacious bedrooms with private bathrooms, an unbelievable 5+ car garage, a second walkout living/family room, built in house generator, dumb waiter from garage to kitchen and so much more. Generous covered and uncovered outdoor decks and patios and the ultimate outdoor kitchen bridge the highly coveted indoor/outdoor coastal lifestyle. 

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      104 Laurel Grove Avenue, Ross, CA 94957 with 6 bedrooms, 6 baths 
and 8,665 sq.ft. is listed for sale at $16,900,000.

104 Laurel Grove Ave, Ross, CA 94957
A rare opportunity to own one of Marin's most spectacular estate properties on the flats in the prestigious Town of Ross. This stunning California contemporary home offers the utmost of elegance and style and an open concept floor plan for seamless indoor and outdoor living and entertaining. Situated on 2.2 acres of stunning, resort-like grounds with bluestone terraces, pool, expansive level lawns, turf sports court and separate guest house, it feels like vacation year round! The spacious, custom designed floor plan offers grand rooms with high vaulted ceilings, French doors to the park-like grounds, beautiful wide plank flooring and superb quality and craftsmanship. The formal living and dining rooms provide gracious areas for entertaining in style. A gourmet kitchen, an entertainer's delight with an eight burner gas range, abundance of counter space and cabinetry, flows to the spacious and inviting family room. Two separate office areas are conveniently located for work and study. Three generously sized bedrooms are offered on the main level. The luxurious master bedroom suite is located on the upper level and features a spacious, sunlit bedroom, expansive walk-in closet with built-ins and a sumptuous marble master bath. The spacious, separate guest house offers a large living area, full kitchen, bedroom, exercise room/2nd bedroom and 2 baths. Truly Marin living at its very finest - the setting cannot be duplicated. 

104 Laurel Grove Ave, Ross, CA 94957

104 Laurel Grove Ave, Ross, CA 94957

104 Laurel Grove Ave, Ross, CA 94957

104 Laurel Grove Ave, Ross, CA 94957

104 Laurel Grove Ave, Ross, CA 94957

104 Laurel Grove Ave, Ross, CA 94957

104 Laurel Grove Ave, Ross, CA 94957

104 Laurel Grove Ave, Ross, CA 94957
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     478 39th Avenue E, Seattle, WA 98112 with 3 bedrooms, 3 baths and 3,780 sq.ft. is listed for sale at $7,898,500.      

Stuart Silk designed modern residence on the shores of Lake Washington in Washington Park. Sublime, meaningful design exudes serenity and sophistication. 60 ft architectural concrete wall and floating steel and oak staircase provide the central design points, while the lake & Mount Rainier views beckon from nearly every room of this open concept home. White Oak Cabinetry, granite steps, slab quartz and glass panels are among the rich surfaces. Custom, rare furnishings included. Incredible opportunity.

Today's Top Real Estate News  

Image result for real estate cartoons free

Home Prices Jump 6.2 Percent in Second Quarter; Eclipse 2016 High.

Media Contact: Adam DeSanctis 

WASHINGTON (August 16, 2017) — The headstrong supply and demand imbalances in much of the country slightly tempered the pace of sales and caused home prices to maintain their robust growth in the second quarter, according to the latest quarterly report by the National Association of Realtors®.

The national median existing single-family home price in the second quarter was $255,600, which is up 6.2 percent from the second quarter of 2016 ($240,700) and surpasses the third quarter of last year ($241,300) as the new peak quarterly median sales price. The median price during the first quarter increased 6.9 percent from the first quarter of 2016.

Single-family home prices last quarter increased in 87 percent of measured markets, with 154 out of 178 metropolitan statistical areas1 (MSAs) showing sales price gains in the second quarter compared with the second quarter of 2016. Twenty-three areas (13 percent) recorded lower median prices from a year earlier.

Lawrence Yun, NAR chief economist, says home prices in most metro areas continued their fast ascent in the second quarter because supply remained at pitiful levels. "The 2.2 million net new jobs created over the past year generated significant interest in purchasing a home in what was an extremely competitive spring buying season," he said. "Listings typically flew off the market in under a month2 — and even quicker in the affordable price range — in several parts of the country. With new supply not even coming close to keeping pace, price appreciation remained swift in most markets."

Added Yun, "The glaring need for more new home construction is creating an affordability crisis that needs to be addressed by policy officials and local governments. An increasing share of would-be buyers are being priced out of the market and are unable to experience the wealth building benefits of homeownership."

Twenty-three metro areas in the second quarter (13 percent) experienced double-digit increases, down from 30 areas in the first quarter (17 percent). Overall, there were slightly more rising markets in the second quarter compared to the first quarter, when price gains were recorded in 85 percent of metro areas. 

Total existing-home sales3, including single family and condos, slipped 0.9 percent to a seasonally adjusted annual rate of 5.57 million in the second quarter from 5.62 million in the first quarter, but are still 1.6 percent higher than the 5.48 million pace during the second quarter of 2016.

At the end of the second quarter, there were 1.96 million existing homes available for sale4, which was 7.1 percent below the 2.11 million homes for sale at the end of the second quarter in 2016. The average supply during the second quarter was 4.2 months — down from 4.6 months in the second quarter of last year.

Last quarter, a rise in the national family median income ($71,529)5 was not enough to offset weaker affordability from the combination of higher mortgage rates compared to a year ago and rising home prices. To purchase a single-family home at the national median price, a buyer making a 5 percent down payment would need an income of $56,169, a 10 percent down payment would require an income of $53,213, and $47,300 would be needed for a 20 percent down payment.

"Mortgage rates have subsided in recent months, which has only somewhat helped take away some of the sting prospective buyers are experiencing with the deteriorating affordability conditions in many areas," added Yun. "Household incomes may be rising and giving consumers assurance that now is a good time to buy, but these severe inventory shortages will likely continue to be a drag on sales potential the second half of the year."

The five most expensive housing markets in the second quarter were the San Jose, California, metro area, where the median existing single-family price was $1,183,400; San Francisco, $950,000; Anaheim-Santa Ana, California, $788,000; urban Honolulu, $760,600; and San Diego, $605,000.

The five lowest-cost metro areas in the second quarter were Youngstown-Warren-Boardman, Ohio, $87,000; Cumberland, Maryland, $98,200; Decatur, Illinois, $107,400; Binghamton, New York, $109,000; and Elmira, New York, $111,600.

Metro area condominium and cooperative prices — covering changes in 61 metro areas — showed the national median existing-condo price was $239,500 in the second quarter, up 5.4 percent from the second quarter of 2016 ($227,200). Eighty-seven percent of metro areas showed gains in their median condo price from a year ago.

Regional Breakdown

Total existing-home sales in the Northeast rose 1.3 percent in the second quarter and are 0.4 percent above the second quarter of 2016. The median existing single-family home price in the Northeast was $282,300 in the second quarter, up 3.2 percent from a year ago.

In the Midwest, existing-home sales increased 4.2 percent in the second quarter but are 0.5 percent below a year ago. The median existing single-family home price in the Midwest increased 6.6 percent to $204,000 in the second quarter from the same quarter a year ago.

Existing-home sales in the South dipped 3.0 percent in the second quarter but are 2.5 percent higher than the second quarter of 2016. The median existing single-family home price in the South was $229,400 in the second quarter, 6.7 percent above a year earlier.

In the West, existing-home sales decreased 3.7 percent in the second quarter but are 3.1 percent above a year ago. The median existing single-family home price in the West increased 7.5 percent to $372,400 in the second quarter from the second quarter of 2016.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing over 1.2 million members involved in all aspects of the residential and commercial real estate industries.
# # #
NOTE:  NAR releases quarterly median single-family price data for approximately 175 Metropolitan Statistical Areas (MSAs). In some cases the MSA prices may not coincide with data released by state and local Realtor® associations. Any discrepancy may be due to differences in geographic coverage, product mix, and timing. In the event of discrepancies, Realtors® are advised that for business purposes, local data from their association may be more relevant.

Data tables for MSA home prices (single family and condo) are posted at If insufficient data is reported for a MSA in particular quarter, it is listed as N/A. For areas not covered in the tables, please contact the local association of Realtors®.

1Areas are generally metropolitan statistical areas as defined by the U.S. Office of Management and Budget. NAR adheres to the OMB definitions, although in some areas an exact match is not possible from the available data. A list of counties included in MSA definitions is available at: (link is external).

Regional median home prices are from a separate sampling that includes rural areas and portions of some smaller metros that are not included in this report; the regional percentage changes do not necessarily parallel changes in the larger metro areas. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Quarter-to-quarter comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns.

Median price measurement reflects the types of homes that are selling during the quarter and can be skewed at times by changes in the sales mix. For example, changes in the level of distressed sales, which are heavily discounted, can vary notably in given markets and may affect percentage comparisons. Annual price measures generally smooth out any quarterly swings.

NAR began tracking of metropolitan area median single-family home prices in 1979; the metro area condo price series dates back to 1989.

Because there is a concentration of condos in high-cost metro areas, the national median condo price often is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes. As the reporting sample expands in the future, additional areas will be included in the condo price report.

2According to NAR's Realtors® Confidence Index, homes typically went under contract in 28 days during the second quarter.

3The seasonally adjusted annual rate for a particular quarter represents what the total number of actual sales for a year would be if the relative sales pace for that quarter was maintained for four consecutive quarters. Total home sales include single family, townhomes, condominiums and co-operative housing.

4Total inventory and month's supply data are available back through 1999, while single-family inventory and month's supply are available back to 1982 (prior to 1999, single-family sales accounted for more than 90 percent of transactions and condos were measured only on a quarterly basis).

Seasonally adjusted rates are used in reporting quarterly data to factor out seasonal variations in resale activity. For example, sales volume normally is higher in the summer and relatively light in winter, primarily because of differences in the weather and household buying patterns.\

5Income figures are rounded to the nearest hundred, based on NAR modeling of Census data. Qualifying income requirements are determined using several scenarios on downpayment percentages and assume 25 percent of gross income devoted to mortgage principal and interest at a mortgage interest rate of 4.0%.

NOTE: Existing-Home Sales for July will be released August 24, and the Pending Home Sales Index for July will be released August 31; release times are 10:00 a.m. ET.

Today's Mortgage Rates
Mortgage Rates Back to 2017 Lows on Trump Tweet
Aug 16 2017, 5:05PM

Mortgage rates dropped today after news broke (first rumors, then confirmation via Twitter) that President Trump was disbanding his councils of CEOs.  The move apparently came in response to attrition among several CEOs following Trump's press conference on recent events in Charlottesville, VA.  In not so many words, Trump disbanded the councils before any more CEOs had a chance to quit.  

Political turmoil--especially that which appears "anti-business" in any way--always runs the risk of hurting stocks and helping bonds.  That's exactly what happened today.  "Helping bonds" in this context means higher demand for bonds among investors.  Excess demand for bonds pushes rates lower.  

The market reaction to the Trump news overshadowed what was set to be the day's big-ticket event up to that point--the release of the Minutes from the most recent Fed meeting.  The Minutes ended up being fairly tame--especially for those who'd tuned in to most of the recent Fed speeches (which, over the past 3 weeks, have largely reiterated views stated in today's Minutes).  In other words, the Fed Minutes were old news, and they did nothing to stop the positive moves in bonds.

Rates ended the day back at 2017's lows, but only after a throng of mid-day price improvements from mortgage lenders.  The average lender is right in line with last week's best levels.

52 Week
30 Yr FRM3.96%3.98%-0.023.37%4.39%
15 Yr FRM3.24%3.26%-0.022.72%3.61%
FHA 30 Year Fixed3.60%3.65%-0.053.20%4.10%
Jumbo 30 Year Fixed4.23%4.25%-0.023.50%4.60%
5/1 Yr ARM3.17%3.18%-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  Most 
importantly, have a great day.


Tom Furino

PS.     Check out "Today's Best Mansion" listed for sale anytime on FaceBook