Friday, February 16, 2018


Today's Best Mansion.


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


#1      1744 South Ocean Blvd. Palm Beach, Florida 33480 with 7 bedrooms,14 baths and 18,432 sq.ft. is listed for sale at $69,900,000.

1744 S Ocean Blvd, Palm Beach, FL 33480

Originally on the market for $99,000,000,  this gorgeous "Ocean to Lake Estate" is offered Furnished or Unfurnished. This Custom built mansion offers the finest construction with the highest quality finishes. Electric shades throughout, floor to ceiling sliding glass doors with Ocean to Lake views and beautifully designed tall ceilings at 14' & 10'. Tennis court, 177' of oceanfront & 177' of lakefront with dock, all situated on 1.86 acres with a stairwell to beach on ocean side. Built for present owners in 2012. A "Turnkey Estate" for every high end buyer  who wants the ability to move right in. This is a one of of kind offering in today's market. Second highest elevation in Palm Beach.

1744 S Ocean Blvd, Palm Beach, FL 33480








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1744 S Ocean Blvd, Palm Beach, FL 33480


1744 S Ocean Blvd, Palm Beach, FL 33480


1744 S Ocean Blvd, Palm Beach, FL 33480


1744 S Ocean Blvd, Palm Beach, FL 33480


Today's Top Real Estate News

Is the Sky Falling Over the Housing Market?

DS News
Editorial



As we go deeper into 2018, it’s safe to say the housing industry is poised for further growth. More first-time homebuyers are reported to be flooding the market and evidence of this is that mortgage applications rose 8.3 percent in the beginning of the new year, according to Mortgage Bankers Association’s (MBA) latest report. Even refinance volume, which was predicted to be in a serious slump in 2017 after a banner year in 2016, seems to now be on an upward trajectory. So, why the pessimistic headline?

Headlines like this seem to be all over the place—from the National Association of Realtors (NAR), to the National Association of Home Builders, to the MBA, and many more. Loud concerns have been voiced over the future of housing and homeownership. Of course, much of that conversation is the result of the latest tax reform law—the Tax Cuts and Jobs Act—and how it will affect housing.

Some say the new tax laws could cause the housing market to cool and home values to drop. This is an already toned-down reaction from when tax legislation was first introduced. An earlier version of the bill prompted NAR to publish a detailed state-by-state analysis that estimated all 50 states will experience drops in home values.

No doubt, many homeowners are pausing to assess where the chips will fall before they make big home buying and selling moves. For housing and mortgage industry 
professionals, this is the time to step up into an advisory role to calm clients’ nerves and to offer solutions. Personal political feelings toward the new act aside, an opportunity exists to stay one step ahead of questions customers may have and to ease the cold feet they may experience.

Understanding the Changes

It’s true that the new tax laws will impact housing in a few key ways. Some of the most-discussed changes include:
  • Capping of the mortgage interest deduction to $750,000, down from $1,000,000
  • Requiring a longer occupancy period (up from two years to five years) to avoid a capital gains tax
  • A new cap of $10,000 for combined real estate, local, and state tax deductions for taxpayers who choose to itemize
However, what we need to recognize about tax reform is that it’s not a standalone event that could affect home value but rather one of many factors impacting the larger housing market.
Many factors could trigger falling home prices: interest rate hikes, geopolitical tensions, terrorist attacks, large company layoffs (for example, the GE layoff of 12,000 employees and Wal-Mart closing 63 Sam’s Club stores), an overheated stock market, and signs of a pending correction.

In addition to event-triggered risk factors, the truth is while homeownership is an excellent long-term wealth builder, home prices do not rise in an ascending straight line. Home values in any given market can experience peaks and valleys, historically in seven- to 10-year cycles, according to housing economists.

Even prior to the details of the tax bill being released, there were signs that markets such as Las Vegas, Dallas, and Denver were already slowing down after being on a tear in early 2017. Real estate agents and lenders understand the housing market is unpredictable and homebuyers’ confidence could turn on a dime.

As current home prices continue to rise, it becomes clearer that the longer-term home value outlook may need to be dialed back due to wage growth that is not in keeping up with those increases. The industry could very well expect to see fewer closings when we hit the tipping point of a too-hot market.

Helping Buyers Protect Their Investment

No one has a crystal ball, not even the experts. However, there are new ways for homebuyers to control how they buy homes that safeguard their investments. Lenders know the risk of market fluctuations and try to minimize their exposure—that’s why they ask homeowners to purchase private mortgage insurance to protect the lender’s loan investment in the event a market downturn occurs and the home value declines. Now, homebuyers can protect themselves the same way.

Lenders and homebuyers are becoming more aware that down payment protection will add a layer of much-needed risk reduction. It safeguards a homebuyer’s investment in a new home purchase—the down payment. If the market corrects and they sell their home for less than what they paid, their loss is reimbursed back to them. This is a homebuyer’s version of private mortgage insurance.

Currently, without down payment protection, lenders walk away with the loan amount intact; even if the borrower defaults, private mortgage insurance kicks in. The homeowner is left holding the bag, paying for 100 percent of the loss, or default, and if they are foreclosed, they lose their down payment and damage their credit. In other words, homebuyers pay to protect mortgage lenders’ investment, but their investment is left exposed to market risks. None of this would happen if they have down payment protection, even if the market experiences a downturn after the current highs.

But it is not entirely an altruistic move to think about stepping up to protect homebuyers’ investments. Market uncertainties and risk concerns are two of the reasons millennials have been slow to convert to homebuyers. Without a steady influx of a new generation of homebuyers, our market will shrink. Many young people simply cannot afford a down payment to buy in today’s expensive market, but even among those who can, increasingly many enjoy the flexibility and the reduced risks of not putting all their (nest) eggs in a basket that is being poked by so many forces beyond their control. 

The paradox is even though a rental home is not in the renter’s name, oftentimes, the renter feels as if they have more control of their own life and their finances by living there. Think about it—they can move and relocate for a new job without having to sell a home, they do not have to worry about losing a big chunk or all of their hard-earned savings if some foreign dictator far, far away suddenly starts a war that could trigger a housing crash. Unlike the industry, they do not have a financial safety net. They may pay for mortgage insurance, but it does nothing to ensure their own financial interest. In the new age of information and self-education, of transparency and accountability, homebuyers are learning what could be at their disposal and what’s missing, which lenders and real estate agents are offering extra value by looking out for their interests, and which ones are not. More homebuyers will soon ask for down payment protection so the industry has to be ready. If you do not offer it, they will find a lender who does.

Predicting the Future of the Market

In good times when demand is high and loans are closing left and right, few people question the status quo and what changes could further empower the homebuyer. But we should ask those questions now. Remember, it really was not that long ago when the real estate market was on a hot streak. Loans—including some of the subprime varieties—were practically writing themselves. It would be nice if we learned our lessons—and more importantly, prove that we care about our customers and want to look out for homebuyers’ interest. It’s their hard-earned savings that power this $31.8 trillion housing industry. It’s our job and responsibility to look out for their families and their down payments.

Many uncertainties are in the news. There are signs that consumer confidence is wavering and homebuying confidence is down, and that was before the new tax bill actually went into effect and the potential of four more interest rate hikes during the next 12 months loomed. It’s time to offer customers new mortgage products that match their new homebuying demand, instead of waiting for them to ask us. This should be done before the next housing correction to prevent the sky from falling.

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      1750 Ocean Front, Del Mar, CA 92014 with 3 bedrooms, 4 baths and 2,459 sq.ft. is listed for sale at $14,900,000.



On the Sand in Del Mar Beach Colony with your own private beach! Prime location just a few short blocks to the Village of Del Mar and beautiful Power House Park. Endless oceanfront & sunsets! Gourmet kitchen, 2 Ensuite retreats plus a separate exquisite master bedroom/ bathroom retreat with fireplace and private tranquil patio. Brilliant design & attention to detail in this one of a kind Del Mar gem! Loads of storage, parking and parking for guests. A must see to appreciate!














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      6903 Foxen Canyon Road, Los Olivos, CA 93454 with 5 bedrooms, 7 baths and 8,000 sq.ft. is listed for sale at $16,500,000.



The remarkable Rancho La Zaca, derived from an original 19th century Spanish Land Grant, today comprises 400+/- acres off the storied Foxen Canyon Wine Trail in the heart of the Santa Ynez Valley. The 25+/- acre Oak Savanna Vineyard is one of the oldest in Santa Barbara County and includes varietals of Chardonnay, Syrah, Sangiovese, and Tempranillo. The 8,000 +/- sf main residence was commissioned by actor James Garner in the 1990s and designed by renowned American architect, Hugh Newell Jacobsen. A series of private pavilions, terraces, and courtyards surround an infinity edge pool and fire pit, and embrace unparalleled 360-degree views of undulating vineyards and hills, oak savanna lands, old-growth olive trees, and misty distant mountains. A recreational paradise, 



















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      307 Olive Hill Lane, Woodside, CA 94062 with 6 bedrooms, 5 baths and 
7,080 sq.ft. is listed for sale at $10,750,000.






This exceptional Central Woodside property enjoys the utmost in privacy on just over 3 sun-swept acres at the end of a private lane with sweeping views of the western hills. From every room, French doors open to private courtyards, balconies, or terraces-all overlooking the glorious gardens and western views and surrounding countryside. The grounds are an idyllic setting for outdoor living with a pool, a vast main terrace, sunken spa and pathways that meander through the property. This outstanding retreat set midway between Silicon Valley and San Francisco, is truly unique and has access to acclaimed Woodside School.























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      10415 NE 15th Street, Bellevue, WA 98004 with 6 bedrooms, 6 baths and 
4,892 sq.ft. is listed for sale at $3,898,000.



Masterful luxury residence-Nothing compromised-finest craftsman wood detailing with nuances of transitional/contemporary features; a superb blend of aesthetics for that particular buyer looking for quality construction. Excellent flow pattern throughout the main floor- large office to guest ensuite-w/separate butler/formal sitting and dining room, kitchen with nook and family room. Garden kitchen and sink with fire pits. Luxurious master suite/spa bath plus 4 bedrooms ensuite; media and bonus.




















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      8525 East Dixileta Drive, Scottsdale, AZ 85266 with 7 bedrooms, 8 baths and 7,461 sq.ft. is listed for sale at $4,450,000.



18+ acre privately gated estate. This property has the ability to be subdivided, architectural plans for a premiere equestrian facility can also be made available. Main house is 5 bed/6.5 bath, guest house is 2 bed/1bath. There are 2 masters in the main house, one upstairs with amazing views and one downstairs. Outdoor areas include 3-hole pitch and putt, infinity pool, wiffle ball field,courtyard,outdoor kitchen and 3 outdoor gas fireplaces. Chef's kitchen complete with double ovens, built in coffee maker, additional oven and dishwasher also in butler's pantry. Game room/theater area is very large with multiple tv's,built in refrigerators + wine refrigerators. Separate wine cellar with tasting room is adjacent to game room. Main house has 3 car garage, guest house has 4 car garage. 























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      600 Chateau V, Evergreen, CO 80439 with 6 bedrooms, 8 baths and 16,817 sq.ft. is listed for sale at $12,990,000.




The largest residential undertaking in Evergreen, with unparalleled Mt. Evans views, is now available for purchase. Modeled after the Biltmore Mansion in Asheville, NC this limestone masterpiece is 9 years in the making and a true marvel of craftsmanship and design. With approximately 20,000 sf, the home is completely unique in design details and finishes. A community of craftsmen have worked closely with the homeowners and the architect to insure that each piece of stone, stained and diamond cut glass, wrought iron and the 126 chandeliers were all individually created to suit the Castle's design. 25' ceilings in the great room, dining room and kitchen turret, all with expansive windows, compliment the 14,000 foot peak of Mount Evans that is showcased throughout the home. Multiple bubble balconies and stone decks invite all who enter to linger and soak in the beauty of one of Colorado's most majestic peaks. 











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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      1940 South Highway A1a, Vero Beach, Florida 32963 with 12 bedrooms, 16 baths and more then 10,000 sq.ft. is listed for sale at $29,900,000.



Now completed oceanfront estate (2018). Stunning new interiors and furnishings. Inspired by the Cote Sud. 7-acre compound w/ithGreat House, Pool House, Carriage House and Guest House. Incredible grounds, gardens & resort pool. State-of-the-Art construction, incl. Geo-thermal AC, theater and smart-house tech.  Perfectly Turn-Key, it's a "must-see"!




















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     10 Oceanside, Wainscott, NY 11975 with 7 bedrooms, 8 baths and  5000 sq.ft. is listed for sale at $40,000,000


Offered for only the second time in its 140 year history, Hamptons iconic "KILKARE" is located in the prestigious Georgica Association on almost 3 acres with 330 ft direct oceanfront and panoramic views of Georgica Pond. Built in 1877 by ship carpenters, the 3-story house has been compassionately restored with all its authentic detail, wraparound porches, pumpkin pine floors, 9 fireplaces, seabreezes through 85 windows, sweeping views from every room. Beautiful private grounds featuring wildflower meadow, 60 ft heated pool surrounded by stackstone walls, zen meditation garden, private walkway to beach, and shoreline protected by a rock revetment.




















Today's Best Mortgage Rates.

Rates Hold Steady Despite Stock Gains 
Feb 15 2018, 3:41PM

Mortgage rates were roughly unchanged today.  Some lenders even offered improved rates in the afternoon as underlying bond markets managed to hold modest gains.  All this despite another winning day for stocks (5th in a row now).  Much has been made of the interaction between stocks and bonds since last week's stock market flash crash.  Unfortunately many of the correlations mentioned in the news are fairly black and white.  

For instance, many people believe that stock prices and bond yields move higher together because a growing economy not only implies stronger stock performance, but it can also support higher rates.  In practice, however, this correlation is hit and miss.  It seemed to be hitting in the wake of last week's crash and then again yesterday afternoon.  Then today, bond markets (which drive rates) managed to make modest gains even as stocks advanced.

The only point here is to not assume that rates will be at the mercy of stocks--at least not consistently.  Rates are at the mercy of much more important and threatening things like supply and demand issues in the bond market, not to mention concerns about rising inflation.  These bigger issues aren't going away quickly.  As such, the safest assumption is that the longer-term trend toward higher rates will remain intact indefinitely.  There will be days of reprieve along the way.  Today was one of them.  We haven't had much luck hoping to see two in a row.  Strategize accordingly with respect to locking vs floating.

52 Week Mortgage Rate Range

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.57%4.57%--3.84%4.57%
15 Yr FRM3.92%3.92%--3.12%3.92%
FHA 30 Year Fixed4.35%4.35%--3.35%4.35%
Jumbo 30 Year Fixed4.57%4.58%-0.014.10%4.60%
5/1 Yr ARM3.50%3.50%--2.99%3.50%


Looking for more information?  Have a comment regarding any of today's mansions? 
Please text or email me at 619-944-8749 or furtree@msn.com.   Most importantly have a great day!

Cordially,  

Tom Furino


PS.   Thank you for reading my blogs. Today's Best Mansions has now been read by over 150,000 individuals!