Saturday, July 21, 2018

Today's Best Mansions: 

#1    2941 GCR 14N, Kremmling, Colorado 80459 is listed for sale at $36,000,000.

The definition of the word "mansion" varies but in U.S. real estate terms, it generally defined as single family residence of more than 8,000 square feet. Mega Mansion range from 20,000 sq,ft. and Super Mansions over 50,000 sq.ft. Until the mid 20th century most "mansions" would have a hall, two or three salons or drawing rooms, library, billiards room, ball room, dining room, breakfast room, morning room, study and numerous bedrooms but only 2-3 bathrooms. 

Highlighted by a stunning mountain landscape and truly exceptional improvements, Elk Island Ranch with 5 bedrooms, 12 baths and 15,183 sq.ft. has been meticulously improved and equipped into a four-season recreational playground of the highest order. A rarity on a mountain property of 6,343± acres, fully-furnished luxurious accommodations complement the compelling land. Sited for its jaw-dropping views, the magnificent SF lodge is complemented by a huge party barn for entertaining, the Outpost Chalet situated at the top of the private ski runs, and an enormous shop building for storing all the included ranch toys and equipment. Masterfully created to be a magnet for multi-generational usage, the ranch offers a wide variety of recreational amenities and attractions throughout the year, including trout fishing, big game hunting, shooting sports, horseback riding, motorsports and on-site downhill skiing. The location less than 10 minutes from a real mountain town with jet strip makes the ranch easy to access and enjoy. 

#2   277 5th Avenue #PH54, New York, NY 10016 is listed for sale at $24,000,000.

277 Fifth Avenue, the tallest residential building on Fifth Avenue, offers truly spectacular 360-degree views from this special full floor residence. Penthouse 54  with 4 bedrooms, 5 baths and 4,520 sq.ft. is accessed by a keyed elevator opening onto a private landing with separate service entrance. Perfect for entertaining, the 53'x21' Great Room offers views toward the Hudson River, and opens onto a 75' long loggia providing a gracious outdoor extension of the living space. The Eat-In Kitchen overlooks the loggia with walls of glass,boasting views of the Empire State building just blocks away. The Master Bedroom Suite opens onto a private portion of the loggia with an outdoor spa, and also provides an oversized dressing room and windowed master bath. Three additional bedrooms make this 4520 square foot residence a beautifully scaled home in the sky. Architect, Rafael Violy, has designed the structural elements into the facade so the interiors are uninterrupted by columns, providing truly panoramic views in all directions from Central Park to the New York Harbor. Located in NoMad at the heart of Manhattan's most dynamic neighborhood, where the elegance of Uptown meets the energy of Downtown, 277 Fifth Avenue offers residents the very best of New York. 

#3   3016 SE Dunes Drive, Stuart, Florida 34996 is listed for sale at $11,250,000.

The "Trophy" of Sailfish Point, this home and lot combination is arguably the best in the entire area. With 8 bedrooms, 11 baths, and 16,599 sq.ft. this mansion includes,nearly 300 Ft of OCEAN FRONTAGE, and 2.12 Acres of Land, you will fall in LOVE at first sight. This incredible residence is referred to as "The Sand Castle" and is located in one of The most PREMIER YACHTING and GOLFING communities in all of the world. The home itself has incredible BEAM work and MOLDINGS throughout and built to the highest level of concrete block construction. So many features of the home to mention include a Movie Room, Wine Cellar, and Guest House. 5 Star Luxury in every direction, whether your an avid BOATER, GOLFER, or TENNIS player, the community has it all. With the ability to accommodate up to a 125 foot boat, this full service Marina is located just a short 75 Miles to the Bahamas and just minutes to the inlet. The Signature Jack Nicklaus course is amazingly set with coastal views of both the ocean and intracoastal waterways.

#4     2321 Castilian Drive, Los Angeles, CA 90068 is listed for sale at $11,700,000.

Located in the distinguished Outpost Estates on over half an acre, this stunning interpretation of a Tuscan hillside villa with 5 bedrooms, 8 baths and 9,000 sq.ft. captures the essence of resort living in California. The luxury compound features newly reimagined interiors, an outdoor oasis with a resort-caliber pool, hamam, multiple cabanas, outdoor kitchen, bar, and plush theatre. Five ensuite bedrooms open to a balcony or patio. A stunning offering in the serene hills above Hollywood, just minutes from the Sunset Strip.

#5   215 Olive Hill Lane, Woodside, CA 94062 is listed for sale at $7,195,000.

Contemporary living in this St. Helena home with 4 bedrooms, 4 baths and 3,730 sq.ft. on 6 private acres near Meadowood CC. Main level has Master Suite, Chef's Kitchen, Living/Dining. 4 additional en suite Bedrooms; Media/Entertainment room w/Bar, Large Wine Cellar. Numerous outdoor Patios, Decks, Cabanas & Infinity Edge Pool take advantage of the Stunning Views. Outdoor Kitchen/Dining, 3 car garage, Elevator. The ultimate Wine Country entertaining home

#6   475 A Avenue, Coronado, CA 92118 is listed for sale at $5,199,000.

This 6878 square foot single family home has 6 bedrooms and 6 bathrooms. Amazing opportunity to own part of Coronado history! Originally built in 1914, this treasured home was preciously preserved and meticulously restored in 2017 with attention to every detail. The balance between history and modernity is expertly achieved to enhance comfort without compromising charm. The restored original hardwood, large windows, and an oversized fireplace in the living room recall Coronado's historic glamour. This unmatched property must be seen to be truly appreciated!

#7    1701 90th Avenue NE, Clyde Hill, WA 98004 is listed for sale at $4,280,000.

Panoramic views! Premier far-reaching western viewpoints with the Olympic Mountains, Seattle Skyline and Lake Washington all on display! Within this highly prized Clyde Hill neighborhood, the home offers a gracious main level master suite & private office. Gourmet kitchen with maple cabinetry, granite counters & stainless appliances. View focused main level gathering spaces opening to an entertainment deck inviting you to magnificent sunsets! Beautiful, professionally landscaped private lot.

Today's Mortgage Rates

Mortgage Rates Back to Flat After Starting Higher
Jul 19 2018, 2:53PM

Mortgage rates had a scare today, as they began the day at their highest levels of the month (depending on the lender) only to fall back in line with yesterday (or better!).  The reason for the back-and-forth movement has to do with esoteric behind-the-scenes stuff in the bond market.  I should be able to make it tangible enough for you, so let's give it a shot.
Bonds are the backbone for all interest rates.  The bonds that underlie mortgages tend to move almost exactly like 10yr Treasury yields.  Treasuries are a great case study to follow when it comes to rates because they are abundant, more actively traded, and essentially risk-free.  That risk-free part is important because it means Treasuries can be used as a benchmark to assess the value of other bonds that aren't guaranteed by the full faith and credit of the US government (note: I realize that "full faith and credit of the US government" might not sound like a big deal to everyone, but in the bond world, it's as risk-free as it gets).

With all of the above in mind, it makes a lot of sense for MBS (the mortgage-backed-securities dictate mortgage rates) to move when the comparable Treasury security moves.  That means we don't necessarily need to be near any important levels in MBS in order to see interesting movement, as long as Treasuries are near interesting levels.

That was the case today as the 10yr Treasury yield (the most widely-accepted benchmark against which MBS are measured) broke above a key short-term ceiling.  When yields break such ceilings, it can serve as a sign for traders to keep pushing rates higher or as a sign that they've pushed enough and can now buy bonds again, thus bringing rates lower.  In today's case, the ceiling prompted buying.  Long story short: rates began the day in higher territory due to lingering weakness from yesterday, but as bonds improved, most lenders offered pricing improvements that brought rates back in line with yesterday morning's levels.

52 Week Range                                           Today      Yesterday                              Low/High 

30 Yr FRM4.64%4.64%--3.84%4.79%
15 Yr FRM4.14%4.14%--3.12%4.22%
FHA 30 Year Fixed4.37%4.36%+0.013.35%4.50%
Jumbo 30 Year Fixed4.51%4.52%-0.014.10%4.81%
5/1 Yr ARM3.97%3.96%+0.013.10%4.02%

The Top Luxury Real Estate Markets with Medium Home Values

Zip Code     Location                        County                   2017 Medium Sale Price

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Tom Furino