Wednesday, February 14, 2018


Today's Best Mansion


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


#1      135 Crestview Lane, Sagaponack, NY 11962 with 3 bedrooms, 3 baths and 
4,500 sq.ft. is listed for sale at $44,995,000.



Behind the gates of Sagaponack's only private oceanfront enclave sits fashion designer Elie Tahari's storied Hampton's retreat. With two and a half acres and 250' on the Atlantic, this home has unparalleled beach access and portends a lifestyle most people can only dream of. A century old barn is a veritable sculpture within which a massive great room is carved with stunning hearth and chef's kitchen. Two enormous roll-up glass doors open the barn to create a virtual allee from the 60' lap pool thru the house to the ocean and sprawling beach. The master bedroom and spa-like bath encompass the entire second floor and feature a totally private ocean-front perch with all day sun. An addition and expansion approved by the village zoning board and designed by Stelle, LoMont, Rouhani, Architects, (Who recently completed Calvin Klein's heralded oceanfront estate) will yield a +/-10,000sf home with eight  bedrooms and expansive entertaining and spa facilities. Plans are available to the buyer. This dramatic home has been featured in countless magazines and coffee table books. 





































Today's Top Real Estate News

Home Price Increases Since 2011 More Than Triple Income Gains

By Jann Swanson
Mortgage News Daily

While home price increases softened slightly in the fourth quarter of last year, the National Association of Realtors® (NAR) said, an uptick in existing home sales further exhausted available inventories. NAR's quarterly metropolitan area housing report puts the national median existing single-family home price at $247,800 at the end of 2017, up 5.3 percent from the fourth quarter of 2016. The year-over-year gain in the third quarter of 2017 was a slightly higher 5.6 percent.  

Single-family home prices grew in 162 or 92 percent of the 177 metropolitan statistical areas (MSAs) tracked by NAR.  In 26 of those areas, or 16 percent, the gains were in the double digits compared to in 11 percent the prior quarter.  Eighteen MSAs set new price peaks, bringing the number with median prices at record highs to 114 or 64 percent.  

Lawrence Yun, NAR chief economist, says, "A majority of the country saw an upswing in buyer interest at the end of last year, which ultimately ended up putting even more strain on inventory levels and prices.  Remarkably, home prices have risen a cumulative 48 percent since 2011, yet during this same timeframe, incomes are up only 15 percent. In the West region, where very healthy labor markets are driving demand, the gap is even wider."

“These consistent, multi-year price gains have certainly been great news for homeowners, and especially for those who were at one time in a negative equity situation; however, the shortage of new homes being built over the past decade is really burdening local markets and making homebuying less affordable,” Yun said.

Sales of existing homes, both single family and condos, rose to a seasonally adjusted annual rate of 5.62 million in the fourth quarter, 4.3 percent growth quarter-over quarter and 1.3 percent more than in the fourth quarter of 2016.

The average supply of available homes over the course of the fourth quarter was 3.5 months compared to 4.2 months in the same quarter of 2016.  There were 1.48 million existing homes in that inventory, 10.3 percent fewer than a year earlier.

Despite an increase in the national median income to $74,492, affordability still edged down as both home prices and interest rates increased.  NAR estimates a family would need an income of $55,585 to purchase a home at the national median price with a 5 percent down payment.  An income of $46,808 would be needed with 20 percent down.

All but one of the five most expensive housing markets were in California; San Jose with a median price of $ $1,270,000; the San Francisco Bay area at $920,000; Anaheim-Santa Ana, $785,000; urban Honolulu, $760,600; and San Diego, $610,000. The five lowest cost were Cumberland, Maryland, $84,600; Youngstown, Ohio $90,200; Decatur, Illinois, $100,000; Binghamton, New York, $108,900; and Wichita Falls, Texas, $110,400.
The median condo price was $237,500, a 7.0 percent increase. Eighty-four percent of the 61 metro areas where condos are tracked showed gains in their median condo price from a year ago.

Total existing-home sales jumped 10.1 in the Northeast compared to the third quarter, but the region was the only one to experience a year-over-year decline; sales were down 0.4 percent. The median existing single-family home price gained 4.2 percent annually, to $268,100.  

Existing sales in the Midwest rose 6.0 percent from the third quarter and were up 2.3 percent from a year earlier. The median existing single-family home price was $193,800, a 7.2 percent change.

Sales in the South increased 3.8 percent and 1.8 percent from the two earlier periods. The median price was up 5.0 percent to $221,600.

The annualized 1.23 million existing home sales in the West was unchanged from the previous quarter and up only 0.3 percent year-over-year. The median price of an existing single-family home increased 7.2 percent on an annual basis to $374,400.

"While tight supply is expected to keep home prices on an upward trajectory in most metro areas in 2018, both the uptick in mortgage rates and the impact of the new tax law on some high-cost markets could cause price growth to moderate nationally," Yun said. 

Today's San Diego Best Mansion




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The median home value in San Diego County is $565,000. San Diego County home values have gone up 7.1% over the past year and Zillow predicts they will rise 3.5% within the next year. 
The median home value in Coronado is $1,572,800. Coronado home values have gone up 3.8% over the past year and Zillow predicts they will rise 2.3% within the next year.

The median home value in La Jolla is $1,899,900. La Jolla home values have gone up 8.9% over the past year and Zillow predicts they will rise 4.2% within the next year.
               
The median home value in Solana Beach is $1,265,000. Solana Beach home values have gone up 13.9% over the past year and Zillow predicts they will rise 3.7% within the next year. 

The median home value in Del Mar is $2,309,800. Del Mar home values have gone up 3.7% over the past year and Zillow predicts they will rise 1.8% within the next year. 


The median home value in Rancho Santa Fe is $2,764,200. Rancho Santa Fe home values have gone up 5.8% over the past year and Zillow predicts they will rise 2.7% within the next year.


#1      15876 The River Trail, Rancho Santa Fe, CA 92091 with 5 bedrooms, 7 baths and 9,143 sq.ft. is listed for sale at $5,199,000.

 


Incredible Resort style Mediterranean Villa. Unsurpassed in beauty & style, a Jim Ford masterpiece, Soaring ceilings, Venetian plastered walls, artesian stone & stunning wood work. The kitchen is exquisitely appointed. An unbelievable great room with 18-20' beamed ceilings, massive fireplace and wall of glass doors open to yard like a tropical paradise. Resort style pool with waterfalls, water slides, sport court & outdoor living room. This is a one of a kind family year-round retreat. With nearly 2 acres that include fruit trees, this home dazzles. 250 ft. estate driveway, lush landscaping with huge custom waterfall & circular drive. Soaring canary palms & rolling hills of green grass. Drive around the center circle & meander through the gated courtyard, enjoying the many plantings and custom water fountain. Through the grand doors to a greeting foyer with soaring 18' -20' beamed ceilings & oversized windows that draw you out to the tropical paradise in the back yard. Beautiful stone flooring & superb woodwork. One wing of the home leads to 4 bedrooms & executive library with fireplace. The master bedroom suite is oversized with fireplace featuring huge his/her walk in closets, built-in cabinetry & opulent bathroom. Generous bedrooms suites all with private baths. Executive Library with fireplace & custom built-ins. Beautiful living room with custom fireplace, dining room, lead to the unbelievable great room with 18-20' beamed ceilings with wet bar & stone fireplace. Glass walled doors open the whole room to the outside family room complete with fireplace & BBQ area. The magnificent kitchen features a huge island with granite counters, big walk in pantry, wine room & appropriate high end appliances. This wing of the home has one bedroom suite with bath and separate powder room. The second level features a private enormous apartment/media room with bath.


























   

Today's Los Angeles Best Mansion


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The median home value in Orange County is $699,500. Orange County home values have gone up 4.2% over the past year and Zillow predicts they will rise 2.0% within the next year.

The median home value in Los Angeles County is $595,700. Los Angeles County home values have gone up 8.6% over the past year and Zillow predicts they will rise 3.3% within the next year.

The median home value in Newport Beach is $1,741,900. Newport Beach home values have gone up 5.7% over the past year and Zillow predicts they will rise 2.1% within the next year.

The median home value in Santa Monica is $1,520,800. Santa Monica home values have gone up 9.0% over the past year and Zillow predicts they will rise 3.2% within the next year. 

The median home value in Pacific Palisades is $2,944,500. Pacific Palisades home values have gone up 9.8% over the past year and Zillow predicts they will rise 3.8% within the next year.

The median home value in Malibu is $3,169,400. Malibu home values have gone up 10.3% over the past year and Zillow predicts they will rise 4.0% within the next year.

The median home value in Bel Air is $3,513,900. Bel Air home values have gone up 6.7% over the past year and Zillow predicts they will rise 3.1% within the next year. 

The median home value in Beverly Hills, 90210 is $5,217,600. 90210 home values have gone up 9.5% over the past year and Zillow predicts they will rise 3.2% within the next year.

#1      801 North Sierra Drive, Beverly Hills, CA 90210 with 8 bedrooms, 10 baths and 8,461 sq.ft. is listed for sale at $11,495,000.




Set on a stunning half acre corner lot and up a private gated drive of Sunset in Prime Beverly Hills sits the this stunning traditional home. With sprawling park like grounds, pool and spa, this home is the epitome of luxury living in style and class. The home features a gourmet chefs kitchen with granite island counter, top of the line stainless appliances & separate breakfast area. With opulent French doors that lead into the formal living room that opens out to the incredible pool andbutterfly gardens. With an expansive master suite, that comes with regal his and hers master walk in closets and fireplaces. This incredible home also features separate maids quarters, a detached artist studio, and a 5 car motor court behind the ultra private Beverly Hills gates. With expansive media room, refrigerated wine room, and outdoor patio area for dining, this Beverly Hills Traditional is the perfect home for entertaining while living in lavish style and luxury. 






















Today's San Francisco Best Mansion


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The median home value in San Francisco County is $1,293,700. San Francisco County home values have gone up 12.8% over the past year and Zillow predicts they will rise 5.9% within the next year.

The median home value in Marin County is $1,094,700. Marin County home values have gone up 6.8% over the past year and Zillow predicts they will rise 5.1% within the next year. 

The median home value in Santa Clara County is $1,196,600. Santa Clara County home values have gone up 21.3% over the past year and Zillow predicts they will rise 8.5% within the next year.


The median home value in Tiburon is $2,638,200. Tiburon home values have gone up 6.1% over the past year and Zillow predicts they will rise 4.7% within the next year.

The median home value in Sausalito is $1,362,900. Sausalito home values have gone up 6.2% over the past year and Zillow predicts they will rise 3.9% within the next year. 

The median home value in Tiburon is $2,580,200. Tiburon home values have gone up 5.4% over the past year and Zillow predicts they will rise 3.4% within the next year
            
The median home value in Palo Alto is $3,010,700. Palo Alto home values have gone up 21.0% over the past year and Zillow predicts they will rise 8.3% within the next year.

The median home value in Los Altos is $3,262,900. Los Altos home values have gone up 17.9% over the past year and Zillow predicts they will rise 7.6% within the next year.     
  
    
The median home value in Saratoga is $2,816,200. Saratoga home values have gone up 18.0% over the past year and Zillow predicts they will rise 7.8% within the next year. 

The median home value in Atherton is $7,257,800. Atherton home values have gone up 16.9% over the past year and Zillow predicts they will rise 7.4% within the next year.

#1      26990 Taaffe Road, Los Altos Hills, CA 94022 with 5 bedrooms, 5 baths and 5,015 sq.ft. is listed for sale at $8,000,000.





One of the most beautiful properties in the Hills. Must see. Serenity and privacy await you as you drive in past the automatic gate, leaving Taaffe Road and the hustle and bustle of Silicon Valley behind. The circular motor court and lush landscaping welcome you to this extraordinary 1.25 acre property. The elegant and timeless custom home features 5 bedrooms and 4 1/2 bathrooms, two offices, living room with fireplace opening to a raised patio overlooking the lush landscaped grounds with sweeping views, spacious family room with high ceilings, gourmet kitchen with professional grade appliances with access to a temperature controlled wine room and walk-in pantry, large nook next to the kitchen area with amazing views, and a luxurious master retreat with sitting area overlooking the pool. Detailed craftsmanship and timeless design exemplify this home, with limestone entry and hallways, crown moldings, and gleaming hardwood floors. Sought after Los Altos Schools.






















Today's Seattle Best Mansion


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The median home value in King County is $608,000. King County home values have gone up 15.4% over the past year and Zillow predicts they will rise 6.0% within the next year.

The median home value in Kirkland is $727,500. Kirkland home values have gone up 21.3% over the past year and Zillow predicts they will rise 6.9% within the next year

The median home value in Seattle is $718,700. Seattle home values have gone up 16.2% over the past year and Zillow predicts they will rise 5.7% within the next year.

The median home value in Bellevue is $881,000. Bellevue home values have gone up 17.5% over the past year and Zillow predicts they will rise 5.8% within the next year.

The median home value in Mercer Island is $1,441,600. Mercer Island home values have gone up 8.1% over the past year and Zillow predicts they will rise 4.0% within the next year. 

The median home value in Clyde Hill is $2,680,500. Clyde Hill home values have gone up 18.3% over the past year and Zillow predicts they will rise 7.2% within the next year.

The median home value in Medina is $2,720,300. Medina home values have gone up 13.0% over the past year and Zillow predicts they will rise 5.8% within the next year.

#1      15562 Lake Shore Blvd.NE, Seattle, WA 98155 with 5 bedrooms, 5 baths and 4,310 sq.ft. is listed for sale at $3,598,000.



A one-of-a-kind, Mediteranean-style, all-brick home with a lifetime Ludowici-Celadon Italian Clay Tile Roof. A 140' of waterfront with an additional 40' of beachfront parking! This home is a work of art, meticulously maintained. The dock is 70' long and has a boat lift that brings your boat into its own boathouse with a copper roof! Entire home has copper gutters as well. Yard and gardens are perfect without a weed!























Today's Phoenix Best Mansion


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The median home value in Maricopa County is $252,400. Maricopa County home values have gone up 6.9% over the past year and Zillow predicts they will rise 2.1% within the next year.

The median home value in Scottsdale is $435,800. Scottsdale home values have gone up 4.9% over the past year and Zillow predicts they will rise 1.4% within the next year.

The median home value in Carefree is $743,200. Carefree home values have declined -1.0% over the past year and Zillow predicts they will rise 0.4% within the next year. 

The median home value in Paradise Valley is $1,641,900. Paradise Valley home values have gone up 1.9% over the past year and Zillow predicts they will rise 1.0% within the next year.    

 #1      8508 East Sweetwater Avenue, Scottsdale, AZ 85260 with 5 bedrooms, 6 baths and 7,894 sq.ft. is listed for sale at $3,295,000.



This stunning traditional home offers all the elegance and custom quality befitting this bespoke Luxury Home. Completely custom, no detail has been spared in the design or finishes. Lasting quality abounds w/stone, marble and granite detailing, luxury carpets, and decorator lighting. A generous floor plan, the home has custom built-in office, wine room, service bar, and a gourmet kitchen that would impress ANY Michelin Star chef! The location is superb: The corner gated lot offers privacy and charm, complete with patios, verandas, and three outdoor fire features, fountains, pool and yard that simply define the term ''Resort-like''. Condition is immaculate -Compare this to ANY luxury home and you'll be impressed at the value and features. NO HOA! Need it furnished? Make the offer.













Today's Colorado Best Mansion


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The median home value in Denver is $393,900. Denver home values have gone up 6.7% over the past year and Zillow predicts they will rise 2.9% within the next year.

The median home value in Avon is $587,800. Avon home values have gone up 6.0% over the past year.             

The median home value in Aspen is $1,453,600. Aspen home values have gone up 2.6% over the past year.

The median home value in Snowmass Village is $1,043,900. Snowmass Village home values have declined -0.9% over the past year

The median home value in Vail is $890,200. Vail home values have gone up 8.3% over the past year. 

#1      35 Cresta Cour, Edwards, CO 81632 with 6 bedrooms, 7 baths and 6,086 sq.ft. is listed for sale at $5,980,000.



Visit the gated ski and golf community of Arrowhead and discover 35 Cresta Court, an exquisite Trailside home overlooking thousands of acres of open space and forest service land. Expansive walls of windows bring the massive views inside to complement the vaulted great room, dining and grand kitchen area. Enjoy a hearth room, a walk-out family room with wet bar, main-level master, 2nd master, expanded deck and stone patio with hot tub and fire pit. Ski-in/out from the private owners' ski cabin.























Today's Florida Best Mansion


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The median home value in Palm Beach is $907,800. Palm Beach home values have gone up 7.8% over the past year and Zillow predicts they will rise 0.2% within the next year.

The median home value in Naples 34102 is $602,800. Naples home values have declined -3.9% over the past year and Zillow predicts they will fall -0.1% within the next year. 

The median home value in Key Biscayne is $1,106,500. Key Biscayne home values have declined -6.0% over the past year and Zillow predicts they will fall -4.5% within the next year.

#1      555 Island Drive, Palm Beach, Florida 33480 with 6 bedrooms,  9 baths and 
9.386 sq.ft. is listed for sale at $23,900,000.

 
This Bermuda style home on Everglades Island epitomizes elegance and classical style. The home has 175' of waterfront and encompasses 9,356 square feet. It has a most desirable western view with beautiful sunsets. This home was totally renovated in 2008 by Palm Beach architect, Tom Kirchoff. It is built around an atrium and all rooms open to the water or garden spaces. The tropical gardens were designed by Mario Nievera. This house has a spacious, comfortable master suite, five additionalbedrooms, seven bathrooms and two powder rooms. The house flows beautifully for entertaining. Features include an exceptional kitchen, wine room, pool, spa, full house generator, impact windows and doors, lutron light system and a water filtration system. Truly a unique opportunity. 


555 Island Dr, Palm Beach, FL 33480


555 Island Dr, Palm Beach, FL 33480


555 Island Dr, Palm Beach, FL 33480


555 Island Dr, Palm Beach, FL 33480


555 Island Dr, Palm Beach, FL 33480



555 Island Dr, Palm Beach, FL 33480



555 Island Dr, Palm Beach, FL 33480



555 Island Dr, Palm Beach, FL 33480



555 Island Dr, Palm Beach, FL 33480



Today's New York Best Mansion


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The median home value in Manhattan is $1,396,100. Manhattan home values have gone up 17.7% over the past year and Zillow predicts they will rise 3.9% within the next year.

The median home value in Brooklyn is $769,800. Brooklyn home values have gone up 12.6% over the past year and Zillow predicts they will rise 3.4% within the next year. 

The median home value in Southampton is $1,507,400. Southampton home values have gone up 8.1% over the past year and Zillow predicts they will rise 3.0% within the next year.

 #1      25 Columbus Circle #72 B, New York, NY 10019 with 3 bedrooms, 6 baths and 3,491 sq.ft. is listed for sale at $28,995,000.

25 Columbus Cir Unit 72 B, New York, NY 10019

Situated at the Southern Gateway to Central Park at the iconic, Time Warner Condominium, this newly renovated high floor, incredible duplex residence consists of 3,491 square feet and glorious views of Central Park from every room. There is an oversized living room/dining room, three bedroom, a media room, a laundry room, a spectacular kitchen, 5 1/2 bathrooms including an oversized amazing sauna. This light flooded home has additional impressive special features successfully created by a perfectionist whose goal to create a superlative "one of a kind" living experience was met. The stunning Shagreen tile wall covering, the amazing hammered bronze elevator doors, the serpentine shaped walnut under lit staircase, and the amazing view of Central Park greet you upon entering the foyer. The entry foyer includes a powder room, and two large closets. The living room with its direct Park views, ventless fireplace with a white onyx surround and pocket doors that lead to the fabulous media room. The island kitchen is perfection with Kinon cabinets and all top-of-the line appliances. In addition, there is a full laundry and bath with a double vanity. The upper floor houses three generous sized bedrooms and 4 baths which includes an oversized superb sauna. On this floor, all bathroom floors are heated and have Toto toilets and onyx finishes throughout. A comfortable sitting area has been created at the upper landing; there are also sufficient closets to make a closet lover's heart sing. This apartment must be seen, it is truly the epitome of sophistication and refinement. Time Warner Condo is conveniently located at the center of New Yorks most prestigious residential, cultural and business establishments. Its location is steps away from Lincoln Center, Carnegie Hall, the theater district, glamorous boutiques, fine dining, theater and of course the splendor of Central Park. 25 Columbus Circle is a full-service building with 24hr doormen & security, a garage, state-of-the-art gym, planted roof deck, screening room, childrens playroom, conference & party room. Residents also have full access to the Mandarin Orientals indoor pool, spa and health club. This destination building is home to Whole Foods, designer shopping, and the city's finest restaurants and Jazz at Lincoln Center. 


25 Columbus Cir Unit 72 B, New York, NY 10019


25 Columbus Cir Unit 72 B, New York, NY 10019


25 Columbus Cir Unit 72 B, New York, NY 10019


25 Columbus Cir Unit 72 B, New York, NY 10019


25 Columbus Cir Unit 72 B, New York, NY 10019
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25 Columbus Cir Unit 72 B, New York, NY 10019


Today's Best Mortgage Rates.

Mortgage Rates Ready to Move After Tomorrow's Inflation Data 
Feb 13 2018, 3:55PM

Mortgage rates began the day fairly well in line with the past 2 days.  While it's nice to see some stability in this environment, it's not so nice that it's occurring at 4-year highs.  Do we have a shot at moving much lower or should you brace for more?  What warning signs should you look for to help answer that question?

Much has been made in the news recently about the correlation between stocks and bonds (which dictate rates).  Depending on the day, stocks are said to be falling because rates are too high or rates are said to be rising because stocks are rising.  In reality, rates are largely doing their own thing, and that thing just happens to correlate with movement in stocks in general.  Last week's stock crash was a different story as it did actually help interest rates catch their collective breath.  

Tomorrow will be a different story yet again as the Consumer Price Index (CPI) stands a very good chance to inform the next major move for rates.  CPI is the most important inflation report and arguably the most important economic report in general at the moment.  To whatever extent inflation is higher than expected, we're likely to see upward pressure on rates.  If it's much weaker than expected, the recent resilience near the multi-year rate highs could give way to some actual progress back in the other direction.  It remains to be seen how long such progress could last, but in any event, you'd want to assume it had a limited shelf life unless something changes (and if something changes, we'll definitely be talking about it here).



52 Week Range Mortgage Rates

ProductTodayYesterdayChangeLowHigh
30 Yr Fixed4.49%4.50%-0.013.84%4.50%
15 Yr FRM3.86%3.87%-0.013.12%3.87%
FHA 30 Year Fixed4.30%4.31%-0.013.35%4.31%
Jumbo 30 Year Fixed4.53%4.55%-0.024.10%4.60%
5/1 Yr ARM3.44%3.46%-0.022.99%3.46%
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