Thursday, September 7, 2017

Today's Best Mansion

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

#1    1000 Waterfront, Sagaponack, NY 11962 with 8 bedrooms, 10 baths 
and 10,000 sq.ft. is listed for sale at $50,000,000

By far the very best oceanfront estate on the market! A modern masterpiece, incredibly custom designed by renowned Bates Masi architects, with the most amazing views both over the ocean and freshwater pond, 3 acres, and over 300 feet of ocean frontage! Spaces run the full width of the house with floor to ceiling sliding glass walls on both sides. The spaces create apertures through which views,light, and air completely penetrate the house, dissolving its mass. Passersby see directly through the house to the sky,pond and ocean beyond. With the sliding doors open and recessed into the adjacent walls, interior spaces are transformed from formal rooms to open pavilions, merging seamlessly with the site. It has it all! Roof top deck with Jacuzzi, kitchen and fireplace, master with outdoor shower and jacuzzi, Oceanside infinity pool, pool house, large  oceanside lawn, and even a tennis court! Absolutely unique and could never be reproduced! 

Today's Top LA Luxury Estate.

The median home value in Los Angeles County is $569,800. Los Angeles County home values have gone up 6.7% over the past year, Zillow predicts hey will increase 1.5% within the next year.

The median home value in Brentwood, 90049 is $2,384,700. Brentwood home values have gone up 1.3% over the past year.  Zillow predicts they will go down -0.6% within the next year

The median home value in Malibu is $2,915,000.  Malibu home values have gone up 5.9% over the past year.  Zillow predicts they will increase 0.7% within the year.

The median home value in Bel Air, 90077 is $3,253,200  Bel Air home values have gone up 3.3% over the past year.  Zillow predicts they will go down  -0.9 within the year.

The median home value in Beverly Hills 90210 is $4,910,000.  Beverly Hills home values have gone up 9.4% over the past year.  Zillow predicts they will increase 1.1% within the next year.

#1      31038 Broad Beach Road, Malibu, CA 90265 with 5 bedrooms, 5 baths 
and 7,442 sq.ft. is listed for sale at $17,995,000.

This premier oceanfront villa offers the ultimate Malibu beach lifestyle. A superb blend of modern elegance & impeccable craftsmanship with imported Portugal limestone & Albertini teak/bronze pocketing doors boasts stunning architectural features from the moment you pass through the water fountain courtyard & enter the main level to the Caeser-stone, solid steel floating staircase. Gorgeous ocean views gravitate you past the formal dining room & into a great room w/ a soaringceiling, gourmet island kitchen & spacious living room w/ FP. Vanishing pocket doors seamlessly marry the indoor/outdoor entertaining space with spa, fire pit & grassy yard that flow into the coveted Broad Beach sands. The 2nd level features wood floors, office, fitness area, & Master's suite with ocean views, FP, private deck & luxurious Picasso-style bathtub & triple-headed shower. A separate ensuite guest room, 3 addl ensuite bedrooms, smart home Crestron system & 3-car garage complete this ocean retreat home.

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 homevalue 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 Valley home values have gone up 1.6% over the past year. Zillow predicts they will increase 2.2% within the next year.

#1      9290 East Thompson Parkway, Unit 491, Scottsdale, AZ 85255 with 5 bedrooms, 5 baths and 4,956 sq.ft. is listed for sale at $2,575,000.


Exceptional luxury within the gates of DC Ranch, this gorgeous custom Calvis Wyant home has it all! Situated on just over 2 acres and backing to over an acre of open space, this home has mountain views, privacy and city lights. The chefs kitchen has been recently updated with all new cabinetry and Thermador appliances, granite counter tops, new light fixtures and new wood flooring. Great room offers plenty of natural light, expansive windows, wood flooring, beam ceiling detail and stonefireplace. Home office has plenty of storage with the knotty alder bookcases and file drawers with a pair of French doors leading to a private front patio. An over-size main floor Master suite has views to the lush backyard and mountains. Upstairs game room offers plenty of space for pool table (see More) Upstairs game room offers plenty of space for pool table and game night, along with stunning city lights and relaxing patio area. You will love the extremely private back yard which offers plenty of outdoor entertaining spaces, mountain views, a putting green, pool with water feature and a trellised sitting area with fireplace. Call listing agent to view this wonderful property today! 

Today's Top San Diego Luxury Estate 

The median home value in San Diego County is $550,900. San Diego County home values have gone up 6.7% over the past year. Zillow predicts they will remain even 2.9% within the next year.

The median home value in Coronado is $1,510,700. Coronado 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 La Jolla, 92037 is $1,505,200.  La Jolla home values have gone up 5.6% this past year.  Zillow predicts they will increase 1.8% within the next year.

The median home value in Solana Beach 92075 is $1,2997,100. Solana  Beach home values have gone down - 0.2% this past year. Zillow predicts they will rise 2.1% within the next year.

The median home value in Del Mar 92014 is $1,607,200 Del Mar home values have gone up 1.9% over the past year.  Zillow predicts they will increase 1.2% within the next year.

The median home value in Rancho Santa Fe is $2,685,800. Rancho Santa Fe home values have increase 5.8% over the past year and Zillow predicts they will increase 0.6% within the next year.  

#1      8210 Saint Andrews Road, Del Mar, CA 92014 with 5 bedrooms, 7 baths 
and 6,420 sq.ft. is listed for sale at $3,250,000.

Perched above the 11th fairway, this Mediterranean estate offers over an acre of rolling golf course frontage & sweeping panoramic views. The main house features 5 BR suites with a separate master wing, office, formal living & dining rooms and the perfect open kitchen/ family room combination. Ideal for easy entertaining with multiple French doors leading to spacious patios creating a seamless indoor/outdoor feel. Outdoor frplc, BBQ, fire pit, pool, and detached 1 BR guest house. It's impossible to emphasize enough how incredible this lot is - the acreage, setting, view and privacy are THE BEST in RSF Farms. House features: formal & informal living spaces, the perfect floor plan for a family with 4 BR suites on one side and master retreat on the other, 5 full baths, 2 powder rooms, completely separate HIS & HER bathroom suites in master, gorgeous office, wet bar, laundry and mud room, 4 car garage with storage, vanishing edge pool, spa, spacious detached 1 BR/1BA guest house with kitchen & living room, extra high ceilings, perfect open gourmet kitchen to family room, breakfast area, courtyard off of the kitchen, and multiple patio areas to enjoy the breathtaking views. Enjoy the world class golf course that The RSF Farms offers plus back gate entry to the luxurious Rancho Valencia Resort.

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 10,0% over the past year.  Zillow predicts they will decrease by 2.6% within the year.

The median home value in Sausalito is $1,283,700. Sausalito home values have gone up 7.3% over the past year. Zillow predicts they will rise 1.6% within the next year. 

The median home value in Tiburon is $2,478,600. Tiburon home values have gone up 4.5% over the past year.   Zillow predicts they will rise increase 1.4% within the next year. 

The medium home value in Saratoga is $2,502,100.  Saratoga home values have gone up 6.6% this past year.  Zillow predicts they will increase 1.8% within the next year. 

The median home value in Atherton is $6,463,200. Atherton home values have gone up 8.6% over the past year and Zillow predicts they will increase 2.2% within the next year.

#1      351 Evergreen Drive, Kentfield, CA 94904 with 5 bedrooms, 7 baths 
and 8,082 sq.ft. is listed for sale at $14,995,000.

Truly one of Marin's most spectacular properties, this 1.38 (+/-) acre estate sits at the top of a knoll bordering Marin Municipal Water District watershed district open space giving it an abundance of privacy. The expansive views from Napa to Mount Diablo and encompassing Mount Tamalpais are unsurpassed. Understated elegance provides timeless classic style to this 8100+/- square foot traditional East Coast Style home. Offering the finest amenities from the moment you slip through the gated entrance and throughout the grounds and home itself. The resort like quality provides an easy casual lifestyle for everyday living but with exquisite elegance and style. Main floor: Masterfully built the great room has 13' high boxed ceilings, a wall of walnut cabinetry and old oak floors. The gourmet kitchen has two islands with granite countertops, timeless custom cabinetry, a 6 burner professional Viking Cooktop, Double Thermador Ovens with warming drawer, Sub-Zero Refrigerator, Crisper drawers, beverage refrigerator and double Bosch Dishwashers. A spacious eating area with French doors out to the stunning gardens. The formal living and dining room with boxed ceilings can easily convert to a large space for the extended family for holiday dinners. The unparalleled views from the attached deck are extraordinary. Luxurious master suite with gas fireplace, window seats and a private view deck. Scrumptious spa bath with steam shower, Jacuzzi tub and double marble vanities. Two huge custom built walk-in closets. Additionally on this level, there is a completely separate guest suite with private bath, mudroom with utility laundry area and extra storage, and a 2 car garage with a Tesla electric charger. Lower Level: The center of the space is an additional family room that is spacious but still cozy. Surrounding the family room are two wings, one with two large bedrooms both with full baths and walk-in closets. A second wing hosts a 3rd bedroom with access to a private patio and a private bath. In addition, a full size laundry room with sink and built-in cabinets and a 1000 bottle wine cellar completes this space. 

Today's Top Seattle Luxury Estate

Image result for Seattle 
The median home value in Kirkland is $688,800.  Kirkland home values have gone up 18.8% over the past year.  Zillow predicts they will rise 8.1% within the next year.

The median home value in Seattle is $690,300. Seattle home values have gone up 15.5% over the past year. Zillow predicts they will rise 6.5% within the next year.

The median home value in Bellevue is $839,600. Bellevue home values have gone up 16.3% over the past year. Zillow predicts they will rise 6.8% within the next year. 

The median home value in Mercer Island is $1,413,600, Mercer island home values have gone up 11.4% over the past year.  Zillow predicts they will rise 5.2% with the next year.

The median home value in Clyde Hill is $2,545,800. Clyde Hill home values have gone up 15.7% over the past year. Zillow predicts they will rise 6.9% within the next year.

The median home value in Medina is $2,628,400. Medina home values have gone up 17.1% over the past year and Zillow predicts they will rise 6.5% within the next year

#1      1023 Belfair Road, Bellevue, WA 98004 with 5 bedrooms, 4 baths 
and 5,440 sq.ft. is listed for sale at $3,250,000.

Abundant natural light splashes through this 2 story home in sought after Vuecrest offering brilliant city skyline and Mt. Rainier views. Elegantly appointed 5 bedrooms. Spectacular grand kitchen offers luxurious Wolf range, 2 dishwashers and wine fridge. Spacious master overlooks the city skyline, Mt. Rainier, fireplace and heated floors. 2 laundry rooms. Home Theater. A/C. Landscaping sprinkler. 4 gas fireplaces. 4 car garage. Covered patio and fireplace.

Today's Top Real Estate News

Meet the new real estate sector that plays offense and defense.

By Andrea Riquer

As the real estate cycle churns on, it’s getting harder to find good ways to invest. Prices in many segments of the market are high, many metro areas are oversaturated with supply of homes, and too many long-term concerns dog other types of real estate, like malls.

But real estate investment trusts focused on renting out single-family homes are appealing to experts interviewed by MarketWatch, all of whom describe it as a great investment for the short and long term.

“It’s my favorite of the REIT sectors,” said David Corak, an analyst with FBR.
Corak’s reasoning: the major REIT sectors, from office to industrial to retail, “all have some sort of identifiable headwind. With single-family, it’s kind of the opposite.”

The single-family-rental model has grabbed headlines recently, after two of the largest players, Starwood Waypoint SFR, -1.19% and the Blackstone Group’s BX, +0.09% Invitation Homes, announced plans to merge. The new company will have over 82,000 properties, making it far and away the country’s biggest landlord in a market traditionally dominated by mom-and-pop owners.

Big institutional investors like Blackstone started snapping up single-family houses after the financial crisis, when such homes were available for a fraction of what they would have been in a normal market, and Americans increasingly turned to renting rather than homeownership.

It was a rocky beginning, Corak admits, but now that a lot of the growing pains are past, the companies are entering an “exciting” time for revenues, he believes.

“It took a long time for these companies to ramp up and figure out what they were doing,” he said. “2016 into 2017 was the first time in these company’s history when they were managing to maximize revenues.”

Now, according to Doug Harter, an analyst with Credit Suisse, the companies are in a sweet  spot: they can use their large scale to drive down expenses like property maintenance, as well as attract higher occupancy rates at a moment when demand for rental properties is likely to remain strong for some time.

In a recent note, Scott Crowe, chief investment strategist for CenterSquare, called the single-family rental market “one of the more interesting stories” of the quarter. As he told MarketWatch, “home builders are not building a lot of entry level products today and the same time you don’t have the supply problem you have on the apartment side.”
Also read: More signs the apartment boom may be fizzling

Crowe also likes the demand dynamics: “it comes from the aging of the millennials. As they become older and have families, they want to move into the suburbs, they don’t believe owning is a path to middle class, there’s a larger propensity to rent.”

The supply and demand dynamics are both so compelling for Corak that he describes the single-family rental market as not just a smart move now, but also one that could be considered “defensive.” If the real estate cycle — or the economy — turns down, more people are likely to become renters than purchasers of homes. Meanwhile, the tenants occupying single-family homes are more likely to have two incomes than the single-income households renting apartments, he argued.

The relatively new sector has consolidated rapidly, and now has only a few major players. Analysts surveyed by FactSet generally like the stocks. For Starwood Waypoint, the mean rating is overweight and the price target is $38.72, while for Invitation Homes, the acquirer in the deal, it’s a buy. The price target of $24.50 is about a 5% premium to its price on Tuesday. Analysts are also overweight American Homes 4 Rent AMH, -0.09% the other major player in the space, which has 46,000 leased properties, and have a median price target of $25.17, 8% higher than its Tuesday share price.

There are also a few other small players, like Reven Housing REIT, Inc. RVEN, -3.99%which owns 754 homes in the Southwest and Southeast.

And for investors who really like the single-family rental market and want to get more hands-on, companies like Investability, owned by Altisource RESI, -0.79% and OwnAmerica, are platforms on which properties can be bought individually or in portfolios. 

Today's Mortgage Rates
Mortgage Rates Lower, but Under Some Pressure
Sep 6 2017, 4:55PM

Mortgage rates moved lower this morning, more by way of catching up with yesterday's market movement than anything.  Specifically, bond markets (which underlie interest rates) were very little changed this morning.   Because mortgage lenders hadn't fully adjusted yesterday's rate sheets to reflect yesterday's strong move in bond markets, rates had a bit farther to fall.  As such, most lenders began the day with the best rate sheet offerings of the year.

Quite a few lenders ended the day at the best levels of the year as well, but more than a few made negative adjustments in the afternoon due to market volatility.  At issue was an announcement that lawmakers were coming together to pass a disaster relief bill that included a temporary increase of the debt ceiling, thus allowing government operations to continue through December.  Given that political dysfunction is one of the factors helping rates stay low in 2017, it's not too surprising to see rates bounce slightly higher with a fresh example of lawmakers actually being able to come up with bipartisan solutions to previously divisive issues.

Lenders who did NOT adjust rate sheets higher this afternoon are starting tomorrow at a disadvantage.  In other words, if bonds don't change much overnight, those lenders are likely to begin the day with slightly higher rates.

52 Week
30 Yr FRM3.86%3.87%-0.013.37%4.39%
15 Yr FRM3.14%3.15%-0.012.72%3.61%
FHA 30 Year Fixed3.50%3.50%--3.20%4.10%
Jumbo 30 Year Fixed4.15%4.16%-0.013.50%4.60%
5/1 Yr ARM3.16%3.17%-0.012.80%3.25%

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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 on Facebook.