Thursday, November 2, 2017


Today's Best Mansionwww.todaysbestmansionsforsale.com

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

#1     1609 Magnetic Terrace, Los Angeles, CA 90069 with 6 bedrooms, 7 baths and 8,800 sq.ft. is listed for sale at $21,900,000.

 
This home is a true modern masterpiece constructed on a cul-de-sac. Located North of Sunset Blvd., in a highly desirable neighborhood and previously owned by Tom Mankiewicz. Offering 12,109 sq. ft. of living space, this huge 6 bedroom and 8 baths awaits its new owner. Enter with style through private gate access and a spacious driveway. An entertainer's paradise, featuring a comfortable 2,500 sq. ft. living room, a professional chef's kitchen with a 20 ft. island, plus a butler's pantry and additional cook's kitchen. The enormous master bedroom comes with a private office and leather-lined closet for him, while her closet is a replica of a famous clothing designer's showroom. Enter through sliding walls of frosted glass, into the master bath complete with large spa shower, infinity bathtub island and H/H water closets. Continue downstairs to your very own hair salon and spa. End your day in elegance on your master bedroom terrace lounge, with some of the best views. 



















Today's Top San Diego Luxury Estates

The median home value in San Diego County is $553,900. San Diego County home values have gone up 6.5% over the past year and Zillow predicts they will rise 2.9% within the next year.

The median home value in Coronado is $1,481,600. Coronado home values have gone up 2.5% over the past year and Zillow predicts they will rise 0.6% within the next year. 

The median home value in La Jolla 92037 is $1,544,300. 92037 home values have gone up 6.9% over the past year and Zillow predicts they will rise 2.4% within the next year.         

The median home value in Solona Beach 92075 is $1,295,200. 92075 home values have declined -3.0% over the past year and Zillow predicts they will rise 2.6% within the next year.

The median home value in  Del Mar 92014 is $1,616,500. 92014 home values have gone up         2.5% over the past year and Zillow predicts they will rise 1.4% within the next year.

The median home value in Rancho Santa Fe is $2,682,700. Rancho Santa Fe home values have gone up 3.1% over the past year and Zillow predicts they will rise 1.1% within the next year.

#1     17541 Los Morros, Rancho Santa Fe, CA 92067 with 8 bedrooms, 10 baths and 14,760 sq.ft. is listed for sale at $10,788,000.



The ultimate in luxury living, this magnificent Covenant manor is a masterpiece incorporating elegance, warmth and beauty with modern living and timeless grace. Filled with exquisite architectural details and tasteful refinements, featuring state-of-the-art horse facilities located directly on the Rancho Santa Fe trails, exquisite public and private living spaces, 7 bedroom suites, pool house and 2 bedroom detached guest house. Brand new solar system installed to serve entire residence. A truemasterpiece rarely available! Located in the heart of Rancho Santa Fe on 5.3 Covenant acres and abutting the riding trails, this over 14,000 sq.ft. estate, with new design details, includes 7 bedroom spacious bedroom suites with a 4 bedroom children's wing. Commanding the second floor is a sumptuous master retreat and sitting room overlooking the meticulous grounds, horse pastures, English rose gardens, state of the art equestrian facilities, pool, pool house and views over the Rancho Santa Fe countryside. The elegant grand foyer and great room/gallery are magnificent. Further enhancing the refinement of this exclusive residence are the formal dining room, library and hidden wine cellar and tasting room. Able to be closed off from the public spaces of the home are the family room and the chef's gourmet kitchen with a large adjoining sun filled morning room including a dining area for up to 12, a warm stone fireplace, butler's pantry and french doors leading to the raised bed vegetable garden, outdoor living spaces, a secret garden and meandering grounds. The porches, terraces, entertaining spaces, fountains and gardens all epitomize a luxurious southern California lifestyle in the privacy and peaceful setting of the "Ranch". Unmatched in size and design, the resort sized pool, grotto with waterslide and cave and oversized magnificent tropical pool house with a large fully stocked kitchen provide days and evenings of entertainment. The private detached guest house has its' own driveway with 2 bedrooms and full kitchen. The manor is complete with equestrian facilities, a 7 stall barn, riding ring, an attached 5 car garage, parking for up to 30 , a detached 2 car garage which also serves as a large game, music and art room, a new slate roof and recently installed full house and pool, solar heating system. When only the best will do, this is the ultimate estate. 




















Today's Top LA Luxury Estate.


The median home value in Orange County is $691,600. Orange County home values have gone up 4.3% over the past year and Zillow predicts they will rise 0.8% within the next year.

The median home value in Los Angeles County is $574,400. Los Angeles County home values have gone up 6.7% over the past year and Zillow predicts they will rise 1.4% within the next year.

The median home value in Newport Beach is $1,633,100. Newport Beach home values have gone up 1.6% over the past year and Zillow predicts they will rise 1.9% within the next year. 
The median home value in Santa Monica is $1,398,900. Santa Monica home values have gone up 0.3% over the past year and Zillow predicts they will fall -0.1% within the next year.

The median home value in Brentwood 90049 is $2,391,500. 90049 home values have gone up 0.6% over the past year and Zillow predicts they will fall -0.9% within the next year.

The median home value in Pacific Palisades is $2,724,500. Pacific Palisades home values have gone up 4.4% over the past year and Zillow predicts they will rise 0.9% within the next year.

The median home value in Malibu is $2,958,800. Malibu home values have gone up 8.5% over the past year and Zillow predicts they will rise 1.3% within the next year.

The median home value in Bel Air is $3,316,800. Bel Air home values have gone up 3.7% over the past year and Zillow predicts they will rise 0.2% within the next year

The median home value in Beverly Hills 90210 is $4,855,000. 90210 home values have gone up .54% over the past year and Zillow predicts they will rise 0.8% within the next year.

#1     31071 Cast Highway, Laguna Beach, CA 92651 with 5 bedrooms, 4 baths and 4,916 sq.ft. is listed for sale at $12,500,000.


With Pacific and Catalina Island views from nearly every room, this 5,200+ sq. ft. oceanfront home seamlessly blends seaside ease and elegance. Surrounded by balconies above Laguna's legendary beaches, natural light shines throughout the open main floor, which includes a spacious, multi-level living room with fireplace, well-proportioned dining room, and wet bar, and contemporary use of glass, wood, granite, and marble. The gourmet kitchen gleams with stainless appliances, custom cabinets and granite counters. Floor-to-ceiling sliding-glass doors invite sea breezes; central air cools on the warmest days. The lower area offers flexibility for casual gatherings and makes a wonderful guest suite, with fireplace, kitchenette, eating area/game table, full bath, study, and den. Another level includes a fitness room and generous storage. Above it all, the upper-level master suite includes a private balcony, sundeck, walk-in closets, and luxurious spa-style bath. This floor also includes additional bedrooms and another full bath, balconies and a laundry room. An indoor spa invites year-round relaxation. The exterior is nearly maintenance-free, with an attached two-car garage and additional parking, security system, and stairs to the beach and just a short stroll to Montage. 


















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 Maricopa County is $246,900. Maricopa County home values have gone up 6.4% over the past year and Zillow predicts they will rise 2.8% within the next year.

The median home value in Scottsdale is $427,700. Scottsdale home values have gone up 3.9% over the past year and Zillow predicts they will rise 1.9% within the next year. 

The median home value in Carefree is $744,800. Carefree home values have gone up 3.8%         over the past year and Zillow predicts they will rise 1.7% within the next year

The median home value in Paradise Valley is $1,616,600. Paradise Valley home values have gone up 2.8% over the past year and Zillow predicts they will rise 1.5% within the next year.

#1      10412 East Robs Camp Road, Scottsdale, AZ 85255 with 6 bedrooms, 7 baths and 10,975 sq.ft. is listed for sale at $7,995,000



An iconic Silverleaf estate, reborn with a modern style. Built by Geitz Master Builders on one of the best pure, southern exposure view lots, this formal Mediterranean home was renovated by Salcito Custom Homes in 2014. At 10,975 SF, this 6 bed (w/detached guest suite), 7 bath home has it all, including 4 en-suite guest bedrooms, beautifully updated chef's kitchen, master suite with spa, sauna, steam, private patio and a closet extraordinaire. Entertain lavishly with a well appointed open air wine room, game/party room, theater, and outdoor living with 10 top bar and drop down TV, firepit, large spa and stunning zero edge pool that rivals a 5 star resort. The interior seamlessly leads you outside to enjoy the stunning golf, sunset and city light views, whether with family or large groups. 
















Today's Top San Francisco Luxury Estate

Image result for San Francisco skyline pictures

The median home value in San Francisco County is $1,237,100. San Francisco County home values have gone up 11.0% over the past year and Zillow predicts they will rise 2.3% within the next year.

The median home value in Marin County is $1,044,300. Marin County home values have gone up 5.8% over the past year and Zillow predicts they will rise 1.7% within the next year. 
The median home value in Santa Clara County is $1,068,000. Santa Clara County 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 $1,292,200. Sausalito home values have gone up 7.2% over the past year and Zillow predicts they will rise 1.3% within the next year.                
The median home value in Tiburon is $2,510,000. Tiburon home values have gone up 5.7% over the past year and Zillow predicts they will rise 0.7% within the next year. 

The median home value in Palo Alto is $2,695,000. Palo Alto home values have gone up 8.3% over the past year and Zillow predicts they will rise 2.9% within the next year.

The median home value in Los Altos is $2,873,100. Los Altos home values have gone up 4.5% over the past year and Zillow predicts they will rise 1.5% within the next year

The median home value in Saratoga is $2,560,300. Saratoga home values have gone up 8.5% over the past year and Zillow predicts they will rise 2.9% within the next year.   

The median home value in Atherton is $6,440,300. Atherton home values have gone up 4.5% over the past year and Zillow predicts they will rise 1.7% within the next year.  
     
#1      n143 Laidley Street, San Francisco, CA 94131 with 5 bedrooms, 6 baths and 5,320 sq.ft. is listed for sale at $10,000,000.
Laidley Manor is rare and one-of-a-kind 5 bd, 5.5 ba single family home. Four years in planning, design and build, this unrivaled, 5320 sqft, modern view manor sits on a double-lot atop Laidley Heights, the new preferred address of technology executives and game changers. Laidley Manor boasts three sprawling levels of vast and ever-changing views of Downtown, Bay Bridge and Oakland Hills - all secluded behind a seamless cedar fence. This residence is inconspicuous from the road, offering little hint of the refuge beyond - an oasis of volume and light, hidden in plain sight. Enriching this space is the thoughtful and elegant design, lofty Douglas fir ceilings, clerestory windows and custom steel-surround fireplace.









Today's Top Seattle Luxury Estate

Image result for Seattle  
The median home value in King County is $589,700. King County home values have gone up 14.8% over the past year and Zillow predicts they will rise 6.3% within the next year.

The median home value in Kirkland is $700,000. Kirkland home values have gone up 18.6%         over the past year and Zillow predicts they will rise 7.2% within the next year.

The median home value in Seattle is $695,600. Seattle home values have gone up 14.6% over the past year and Zillow predicts they will rise 6.1% within the next year.

The median home value in Bellevue is $846,500. Bellevue home values have gone up 15.0% over the past year and Zillow predicts they will rise 6.0% within the next year.

The median home value in Mercer Island is $1,391,900. Mercer Island home values have gone up 8.5% over the past year and Zillow predicts they will rise 4.0% within the next year.

The median home value in Clyde Hill is $2,646,700. Clyde Hill home values have gone up 19.8% over the past year and Zillow predicts they will rise 7.8% within the next year.             

The median home value in Medina is $2,698,700. Medina home values have gone up 18.5% over the past year and Zillow predicts they will rise 6.5% within the next year.
           
#1      8805 NE 34th Street, Yarrow Point, WA 98004 with 6 bedrooms, 7 baths and 6,320 sq.ft. is listed for sale at $9,350,000.


Exquisite design & modern luxury surround this Mediterranean estate along the shores of Lake Washington in the coveted Yarrow Point community. Street to waters edge the grandeur is unmatched. Experience unobstructed views, breathtaking sunsets, walls of windows that disappear, highly functional floor plan for both living & entertaining w/gorgeous patios. Be captivated by the expansive dock, private beach, outdoor fireplaces, a boater's dream. Sit poolside, play lakeside & enjoy the good life.




















Today's Best Mortgage Rates
Mortgage Rates Unchanged to Slightly Higher
Nov 1 2017, 4:45PM

Mortgage rates were slightly higher today, on average, as bond markets backed away from their stronger levels seen during the last 2 days of October.  "Strength" in bond markets connotes higher prices for bonds and lower interest rates.  In actuality, the bonds that dictate mortgage rates are fairly close to yesterday's levels.  Additionally, some lenders are offering mortgage rates that are fairly close to yesterday's, but the median lender is a bit worse off due to weaker bond market conditions earlier this morning (bonds improved during the day, but not every lender changed rate sheets accordingly).

The Fed statement came out this afternoon, but it didn't contain any major revelations that affected rates.  Based on the trajectory in markets, it looks like some investors thought the Fed might be a little more downbeat on inflation and the rate hike outlook.  In that regard, the relatively unchanged verbiage of the announcement put an end to the day's bond market rally (and the prospects for more lenders to offer mid-day rate improvements).

                                                                                                                            52 Weeks


ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.99%3.97%+0.023.59%4.39%
15 Yr FRM3.30%3.27%+0.032.90%3.61%
FHA 30 Year Fixed3.65%3.60%+0.053.35%4.10%
Jumbo 30 Year Fixed4.18%4.16%+0.023.75%4.60%
5/1 Yr ARM3.19%3.17%+0.022.89%3.25%
Today's Top Real Estate News Article

Price Gains Built on Fundamentals or Full of Hot Air?
Nov 1 2017, 10:57AM

By Jann Swanson
Mortgage News Daily

Whenever housing prices rise faster than the rate of inflation, the question arises, are we in a housing bubble?  Two Urban Institute (UI) analysts, Bing Bai and Edward Golding, say rapidly growing prices can be benign when they are buoyed by fundamentals such as job and income growth, and are indications of an expanding economy.  A bubble, on the other hand, is inflated by artificial or temporary factors. The latter kinds of price increases are often unsustainable and may come to no good end.

Appreciating home prices over the last five years have outpaced inflation by a cumulative 34 percent. While this is a significant difference, it is modest compared to the 87 percent difference between price growth and inflation in both 1997 and 2006. But, even if the differential is not yet alarming, the crucial question is whether those prices are driven by fundamentals or speculation.

The authors, writing in UI's blog, lay out two parameters for determining the sustainability of price increases. They conclude that the current rapid acceleration of home prices doesn't mean the nation as a whole is in a bubble, but certain metro areas do appear to be trending toward bubblicious.

Bai and Golding use the Housing Finance Policy Center's Housing Affordability Index which tracks whether the median household can afford a standard mortgage on a median-priced house. At present it indicates a median household can afford a home that costs $70,000 more than the actual median price of houses being sold, indicating that, even with the rising prices, homes remain affordable by national historic standards. Thus, price gains are probably tracking a broader economic expansion. Compare this to 2006, when there was a $22,000 shortfall between "affordable" and the median sales price.  This indicates that we are not in a bubble nationally, and nowhere near the situation that preceded the 2008 housing crisis.

This is not the case however in some local markets.  The authors looked at the 37 largest metropolitan statistical areas (MSAs) using the same key factors, affordability and the real increase in house prices since their lowest point after the crash.  They summed the rankings and identified the MSAs most likely to be in a bubble, giving it a "bubble watch" rank.


The MSAs topping the list tend to have both strong price growth and low affordability. The San Francisco area, for example, has the fourth highest rate of appreciation and ranks at the bottom when it comes to affordability.  Further down, the list the rank could be driven by price increases or by the lack of affordability.

Some of the effects of rapidly rising prices are mitigated on the bubble scale by where the MSA was pre-crash and where it landed afterward. For example, Las Vegas and Detroit have seen rapid price increases, but homes remain affordable. The opposite is true in Philadelphia, where prices have not gone up as much but are already unaffordable. To model these, one would need to account for the following factors:
  • A lack of building that has constrained supply. With the exceptions of Detroit and Fort Worth, most of the 25 highest ranked metros have experienced shortages of housing supply in recent years.
  • Some MSAs are rebounding from "overshooting" in the downturn. Detroit was already in decline before the last bubble and home prices didn't get much of a boost during it, increasing only 12 percent at the peak. The city then saw a major bust along with the rest of the nation; prices plunged 62 percent in the downturn. Since its trough, Detroit price gains have been the third fastest in the nation, still it remains one of the most affordable areas (ranked 23rd) and has the biggest gap between the two measures. Its number 14 bubble-watch rank is mostly driven by home price growth, while Phoenix, ranked about the same, has seen relatively rapid house price increases and limited affordability.
  • International investors are buying houses in certain MSAs. International activity in the US residential market has been strong in recent years, and California, Florida, and Texas have been the favorites of foreign buyers. MSAs those three states rank high on the bubble-watch list.
  • New nontraditional investors are buying houses as rentals. This may increase purchase prices and rental prices in ways that are unsustainable.
The authors say that keeping an eye on whether bubbling at the metro level is becoming unsustainable is an important consideration for public policy.  It should be part of the discussion when the Federal Reserve mulls interest rates and states and localities should pay attention when they rethink building and land-use restrictions. Bai and Gooding say they intend to continue to refine their measures to better distinguish areas experiencing healthy and sustainable house price growth from those in bubble territory.
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