Saturday, October 7, 2017

Today's Best Mansionwww.todaysbestmansionsforsale.com

It's lavish. It's huge. It's grand. It's expensive.  
.            
#1      39 Beachview Ave, Dana Point, CA 92629 with 6 bedrooms, 11 baths 
and 13,216 sq.ft. is listed for sale at $40,000,000.



Dramatic and sensual, the nearly 14,000-sq. ft. residence will rest on nearly one-half acre above Dana Strands Beach in one of California’s most prestigious gated enclaves, The Strand at Headlands. Imposing and sleek, yet stately, the home is a showcase of glass, stone and wood. Its expansive spaces, open floorplan and walls of glass create an awe-inspiring experience of spaciousness and light, with nearly every room providing a breathtaking panorama of ocean, and beyond to the horizon. Only the finest materials and fixtures will grace the residence. A partial inventory reveals Starfire tempered glass, premium walnut and French oak; Nublado, Carrara and Statuarietto marble; and kitchen fixtures by Dornbacht, complemented by top-of-the-line La Cornue, Miele and Viking appliances. The home’s amenities defy a simple list, although a sampling includes varying pools and water feature, a putting green and golf simulator, spa with sauna and massage tables, home theater, office, wine wall, multiple terraces and, of course, a sumptuous master suite. Representing the definition of luxury and privilege, this singular home promises to be one for the ages.




















Today's Top San Diego Luxury Estate


The median home value in San Diego County is $552,400. San Diego County home values have gone up 6.2% over the past year and Zillow predicts they will rise 2.5% within the next year.


The median home value in Coronado is $1,488,500. Coronado home values have gone up 3.1% over the past year and Zillow predicts they will rise 1.3% within the next year. 

The median home value in La Jolla 92037 is $1,538,100. 92037 home values have gone up 7.9% over the past year and Zillow predicts they will rise 2.0% within the next year.

The median home value in Solona Beach 92075 is $1,284,600. 92075 home values have declined -4.2% over the past year and Zillow predicts they will rise 2.0% within the next year. 

The median home value in Del Mar 92014 is $1,616,500. 92014 home values have gone up 3.0% over the past year and Zillow predicts they will rise 0.9% within the next year.

The median home value in Rancho Santa Fe is $2,698,700. Rancho Santa Fe home values have gone up 6.0% over the past year and Zillow predicts they will rise 0.7% within the next year. 

#1      18000 Sunset Point Road, Poway, CA 92064 with 5 bedrooms, 10 baths and 9,510 sq.ft. is listed for sale at $3,200,000.


Spectacular Single Level Estate in The Heights, on 4.7 acres with 180 degree Views of the City to the Ocean. Stunning Views, Open and Spacious Floor Plan, Walls of Windows and Sliding Glass Doors and 1200sf of Terraces dissolves the barrier between Inside and Outdoors. This Impeccable Home looks Brand New. Fabulous Kitchen, Pool Room,Pool with Waterfall and Spa, 4 Car Garage,  and Lighted Tennis Courts. Come Enjoy the Extraordinary Solitude yet only Minutes to the Everyday Conveniences and Recreational Opportunities.
















Today's Top LA Luxury Estate.


The median home value in Orange County is $689,800. Orange County home values have gone up 4.0% over the past year and Zillow predicts they will rise 1.1% within the next year
         
The median home value in Los Angeles County is $572,900. Los Angeles County home values have gone up 6.8% over the past year and Zillow predicts they will rise 1.5% within the next year.

The median home value in Newport Beach is $1,654,400. Newport Beach home values have gone up 5.3% over the past year and Zillow predicts they will rise 1.0% within the next year. 

The median home value in Santa Monica is $1,410,500. Santa Monica home values have gone up 2.2% over the past year and Zillow predicts they will rise 0.3% within the next year.

The median home value in Brentwood 90049 is $2,383,900. 90049 home values have gone up 0.9% over the past year and Zillow predicts they will fall -0.6% within the next year.

The median home value in Pacific Palisades is $2,731,400. Pacific Palisades home values have gone up 5.0% over the past year and Zillow predicts they will rise 1.0% within the next year.

The median home value in Malibu is $2,933,500. Malibu home values have gone up 7.7% over the past year and Zillow predicts they will rise 1.0% within the next year.

The median home value in Bel Air is $3,272,700. Bel Air home values have gone up 3.7% over the past year and Zillow predicts they will fall -0.3% within the next year

The median home value in 90210 is $4,892,500. 90210 home values have gone up 9.4% over the past year and Zillow predicts they will rise 0.9% within the next year.

#1       2302 The Strand, Hermosa Beach, CA 90254 with 5 bedrooms, 4 baths and 2,817 sq.ft. is listed for sale at $14,850,000.

Available for the first time ever and simply one of the most unique and coveted corner lot locations anywhere on the famed strand sits the jewel of Hermosa Beach. Sitting on the north corner with its imposing south facing alignment, this classic Spanish Mission style home has been family owned for nearly 70 years. This stunning historic architectural masterpiece encompasses nearly 3,000 square feet of living space and sits on a massive 5,350 square foot lot. Take a stroll through this 5 bed 3.5bath home and take in all of its history, warmth and undeniable charm. Enter the home through your private courtyard and grand front door entrance into a wide- open family/great room. Instantly, you're drawn to the exposed century old rich wood beam ceilings and jaw-dropping ocean, sand and strand views in all 3 directions. One block to the legendary 22nd street corridor of the Green Store, Martha's and the newly revamped Bottle Inn, this bullseye location on the strand makes this property, lot and location..........A once in a lifetime opportunity! A generational landmark property and location, properties like this very rarely ever change hands. See for yourself why this home is undeniably the crown jewel of the Hermosa Beach strand and what is one of the most Iconic locations and corners in all of Southern California.










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 $426,100. Scottsdale home values have gone up 3.8% over the past year and Zillow predicts they will rise 1.3% within the next year

The median home value in Carefree is $747,800. Carefree home values have gone up 5.9% over the past year and Zillow predicts they will rise 1.7% within the next year.

The median home value in Paradise Valley is $1,604,500. Paradise Valley home values have gone up 2.9% over the past year and Zillow predicts they will rise 0.7% within the next year.


#1      10995 East Wingspan Way, Scottsdale, AZ 85255 with 5 bedrooms, 10 baths and 10,863 sq.ft. is listed for sale at $9,400,000.


Nestled in the Upper Canyon of Silverleaf you will find this one of a kind compound. Master suite includes a private outdoor spa, separate his & her bathrooms/closets, and see-through fireplace. This primary residence (10,139 square feet) and separate guest house with full kitchen (724 square feet) were designed to entertain and are equipped with 14 fireplaces, 2 fire pits, 7 high ceiling garages (capable of holding 11 cars comfortably with lifts), 2 separate BBQ stations, 2 fire pits, 2 private courtyards and more!













Today's Top San Francisco Luxury Estate

Image result for San Francisco skyline pictures

The median home value in San Francisco County is $1,234,800. San Francisco County home values have gone up 10.7% over the past year and Zillow predicts they will rise 2.8% within the next year.

The median home value in Marin County is $1,060,900. Marin County home values have gone up 8.6% over the past year and Zillow predicts they will rise 2.2% within the next year. 
     
The median home value in Santa Clara is $1,121,300. Santa Clara home values have gone up 10.0% over the past year and Zillow predicts they will rise 3.6% within the next year.        

The median home value in Sausalito is $1,289,700. Sausalito home values have gone up 7.6% over the past year and Zillow predicts they will rise 1.9% within the next year.          
The median home value in Tiburon is $2,509,800. Tiburon home values have gone up 5.7% over the past year and Zillow predicts they will rise 1.7% within the next year.

The median home value in Palo Alto is $2,660,200. Palo Alto home values have gone up 6.2% over the past year and Zillow predicts they will rise 2.6% within the next year.

The median home value in Los Altos is $2,852,400. Los Altos home values have gone up 3.7% over the past year and Zillow predicts they will rise 1.4% within the next year.         

The median home value in Saratoga is $2,531,200. Saratoga home values have gone up 7.6% over the past year and Zillow predicts they will rise 2.8% within the next year.

The median home value in Atherton is $6,472,600. Atherton home values have gone up 6.8% over the past year and Zillow predicts they will rise 2.3% within the next year.

#1      9769 Via Canada, Kenwood, CA 95452 with 4 bedrooms, 4 baths and 4,701 sq.ft. is listed for sale at $5,850,000.


Located in Kenwood; only minutes to Glen Ellen and Santa Rosa, this approximately 20 acre estate boasts a gentlemans vineyard of mature Cabernet and Syrah grapes, one-bedroom, one-bath guest house, and incredible views. The four-bedroom, four-bath main home features a chefs kitchen, media room with a 160 screen, approximately 12 ceilings, hardwood flooring, and three wood-burning fireplaces. French doors lead to the expansive outdoor entertaining and living spaces complete with a pizza oven and serene pool overlooking vines. The sprawling grounds feature both a year-round creek and spring, as well as 200+ olive producing trees. This ultra-secluded estate is nestled between Annadel, Jack London and Sugar Loaf State Parks, and is surrounded by mature oaks and rose gardens. 















Today's Top Seattle Luxury Estate

Image result for Seattle 
The median home value in Kirkland is $692,100. Kirkland home values have gone up 
18.8% over the past year and Zillow predicts they will rise 8.1% within the next year.

The median home value in Seattle is $690,200. Seattle home values have gone up 14.3% over the past year and Zillow predicts they will rise 5.9% within the next year.

The median home value in Bellevue is $842,900. Bellevue home values have gone up 15.7% over the past year and Zillow predicts they will rise 5.9% within the next year.

The median home value in Mercer Island is $1,406,800. Mercer Island home values have gone up 10.5% over the past year and Zillow predicts they will rise 4.3% within the next year.

The median home value in Clyde Hill is $2,603,600. Clyde Hill home values have gone up 17.7% over the past year and Zillow predicts they will rise 6.4% within the next year.             

The median home value in Medina is $2,667,700. Medina home values have gone up 18.3% over the past year and Zillow predicts they will rise 6.2% within the next year.


#1       10700 NE 4th Street, Unit 4102, Bellevue, WA 98004 with 3 bedrooms, 4 baths and 3,561 sq.ft. is listed for sale at $5,000,000.


Soar to the 41st floor of Bellevue Towers to a penthouse that elevates luxury living to new heights. No detail spared in this 3,561 square foot home with 3 bedrooms and 3.5 bathrooms. Open concept with walls of windows, custom built-ins, a fireplace and wraparound balcony. Chef's kitchen with stainless steel appliances, Wolf range-top, granite counters, wine chiller, wet bar and butler's pantry. Master suite with a private terrace, two walk-in closets, and ensuite bath. Additional features include hardwood floors, Luton blinds, ample storage and 3 parking spaces.















Today's Top Real Estate News 

Boomers More Likely to Carry Mortgages Into Retirement

By Jann Swanson
Mortgage News Daily

While earlier generations tended to pay off their mortgages before they retired, the leading edge of Baby Boomers, now in their late 60s and early 70s have been less likely to do so.  Fannie Mae says the increasing prevalence of housing debt among the 33 million-member strong generation has raised concerns it could compromise their retirement security. Carrying mortgage debt could expand housing affordability problems, crimp essential spending in other areas, limit the accumulation of housing wealth, and raise seniors' exposure to foreclosure.

Patrick Simmons, Director of Strategic Planning in Fannie Mae's Economic & Strategic Research Group writes in the current edition of the company's Housing Insights that, while several studies have documented the rise of mortgage debt among older homeowners, there hasn't been research into whether Boomers have sped up retirement of that debt as they themselves approach retirement age and the economy and housing market have emerged from recession.

Simmons and the Research Group examined free-and-clear homeownership among Boomers across three periods; the "housing bubble buildup" (2000-2005), the "bubble burst and recession" (2005-2010), and the "recovery" (2010-2015) using age group analysis and cohort analysis. The first method compares data for fixed age groups as a generation moves through them, the second tracks changes as the same individuals grow older, passing from one age group to another.

Using the age group approach, Simmons found Boomers who have passed the traditional retirement age are substantially less likely to own their homes outright than were other generations at that point.  Among the generation's leading edge, owner occupants who were 65 to 69 in 2015, fewer than 50 percent were mortgage-free, 10 percentage points fewer than the preceding generation who were the same age in 2000, before the housing bubble started.  Younger Boomers who were 50 to 54 in 2015 were significantly more likely to be mortgage free than those who preceded them. Twenty-six percent owned their homes outright compared to 22 percent who were the same age in 2000.  


Tracking the Boomer cohort reveals that they have recently picked up the pace of paying down debt.  Boomers of every internal age group became outright homeowners faster during the recovery period than during the recession.  For example, for those who were 60 to 64 in 2010 and 65 to 69 in 2015, the show who owned their homes free and clear grew by 10.6 percentage points; more than a 2-point increase from those in the pre-Boomer cohort that passed through the same age range between 2005 and 2010.


With only a few members of the huge Boomer generation presently at or above traditional retirement age, it remains to be seen how many of the remainder will get there without a mortgage. However, the authors say their cohort analysis provides some guidance.  For each five-year age cohort of Boomers not yet at retirement, they project the share of those who may reach that age mortgage debt free by adding the 2010-2015 cohort increments depicted in Exhibit 2 to the observed 2015 baseline rates shown in Exhibit 1.

This leads to the estimate of 51.8 percent of Boomer homeowners in the cohort born between 1951 and 1955 will be mortgage-free when they reach 65 to 69 in 2020. Across the board, free and clear ownership of all five-year groups within the Boomer generation will lag those of the pre-Boomer cohort born between 1931 and 1935 as they reached 65 to 69 in 2000. The deficit ranges from a projected shortfall of 1.8 percentage points for the youngest Boomer group to an already observed deficit of 10.4 percentage points for the oldest.


The authors conclude that, even if Boomers continue the accelerated rate of debt reduction observed between 2010 and 2015, they will still reach lower rates of outright homeownership at retirement than their elders.  To surpass them, Boomers will need to pick up the pace.

Simmons suggests some reasons for the accelerated pace of debt reduction during the recovery.  Some Boomers may have adopted a more conservative attitude toward housing debt after the disruptions of the housing crisis, or may have confronted tighter credit markets or negative equity which made it difficult to borrow against their homes.  As things improved, the rapid gains in equity may have enabled more Boomers to downsize to lower value homes without using mortgage financing. Improved employment and wages may have allowed homeowners to pay off their mortgages and/or reduced the need to cash out equity to meet expenses.  Finally, elevated levels of foreclosure well into the recovery may have forced some boomers to exit homeownership and helped nudge the share of outright ownership higher.

The relatively high incidence of housing debt among Boomer homeowners, even with the increased rate of paydown, has the potential to strain their retirement finances. Given that income typically declines in retirement, monthly mortgage payments could stretch the household budgets of Boomers who exit the labor force without first extinguishing their housing debts. Indeed, among Boomer homeowners aged 65 to 69 in 2015, those with mortgages were over three times more likely to experience a housing cost burden than were those who owned their homes outright. 

The larger share of older mortgagors and the generation's apparent openness to mortgage debt should lead to more business for both originators and servicers than in previous generations. However, whether this is a profitable situation depends in part on the ability of Boomers to successfully manage their monthly housing costs as their financial situation changes in retirement. The authors suggest this may signal the need to expand consumer outreach and education, including ensuring that older mortgagors have "fully exploited opportunities to reduce monthly mortgage payments through refinancing."  

They also suggest educating younger Boomers about benefits from shorter-duration mortgages and older Boomers about the advantage of trading down to less expensive homes.

Today's Mortgage Rates
Mortgage Rates Highest in 2 Months After Jobs Report
 
Oct 6 2017, 5:40PM

Mortgage rates moved higher today, following a much weaker-than-expected jobs report.  These are two things that essentially never go together.  What made this time so different?

The paradox was made possible by the recent Hurricanes wreaking havoc on the jobs counts for the month of September.  Normally, weaker jobs data (i.e. lower counts of "payrolls") signal economic weakness.  A weaker economy generally can't support rates and stock prices as well as a stronger economy.  Thus, weak jobs data usually pushes rates lower.

Because of the weather, financial markets were able to forgive the payroll counts and from there, the other data included in the report actually painted a fairly bright economic picture.  With that, rates rose quickly in the morning, bringing the average lender to the highest levels since early August. 

Bond markets are closed on Monday in observance of Columbus Day.  This means mortgage lenders won't have access to updated rate sheets until Tuesday.

                                                                                                                   52 Weeks
ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.99%3.98%+0.013.52%4.39%
15 Yr FRM3.27%3.25%+0.022.84%3.61%
FHA 30 Year Fixed3.60%3.60%--3.35%4.10%
Jumbo 30 Year Fixed4.19%4.18%+0.013.67%4.60%
5/1 Yr ARM3.22%3.22%--2.86%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 on Facebook.