Wednesday, September 26, 2018

Today's Best Mansions.

Which one is your favorite?   Check out "Today's Top Three Mansions" everyday at:

#1    38 Indian Creek Island Road, Indian Creek, Florida 33154 is listed for sale at $23,900,000.

Rare find! Waterfront mansion with 6 bedrooms, 8 baths and 8,000 Miami's most exclusive zip code for luxury estates Indian Creek Island. Rebuilt and remodeled in 2016, the Mediterranean home sits on a lush 1.2-acre lot with 118 feet of waterfront.  It is equipped with luxurious amenities and tropical backyard with resort-style pool with built-in pool lounge. Inside, living room with dramatic volume ceilings, formal dining, chef's kitchen with family room, beautiful architectural details, and high ceilings. Upstairs, master suite with office, upper living room, 2 beds, and gym. Other features: 4-car garage, Control4 system, Venetian plaster walls, 2 powder rooms. This is the ultimate estate for enjoying lavish lifestyle! Indian Creek Island is a private police-guarded Island with less than 40 waterfront homes, 18-hole Golf Course, and Country Club.

#2     1188 E Mountain Dr, Montecito, CA 93108 is listed for sale at $16,250,000

Situated on approximately 2 acres, this stunning Contemporary estate with 3 bedrooms, 5 baths and 6,919 sq.ft. boasts unparalleled ocean and Channel Island vistas from most rooms. Designed by renowned architect James Morris, the estate combines features of classical Palladian and Contemporary architecture. Upon entering via the home's grand gated entry, visitors are greeted by a substantial motorcourt, with walking paths to a property overlook on one side and the home's stately courtyard on the other. The fabulous courtyard, graced with an array of palm trees and beautiful planters, centers around a pool and spa displaying an impressive fountain. Once inside the home, one's eyes are met by the large glass walls of the spacious living room, with ocean and Channel Island views on full display.

#3   10673 East Wingspan Way, Scottsdale, AZ 85255 is listed for sale at $11,500,000.

Entering through the gates, you arrive at an extraordinarily private compound with 6 bedrooms, 7 baths and 11,027 sq.ft.on 3.5 acres in the Upper Canyon of Silverleaf. Both the main residence (8,349 square feet) and guest quarters/party house (2,677 square feet) exude a harmony of materials enriched by lush landscaping and majestic views-the ultimate in Arizona resort style living. The homes function independently with 4 bedrooms in the main house and 2 bedrooms in guest quarters; 7 total bathrooms and 6 car garage. Spreading over the exquisite grounds are two pool/spas, and firepits, along with multiple outdoor fireplaces, fountains and loggias. Most every room in both homes flow seamlessly into charming covered courtyards or patios, and there is no question that the possibilities for entertaining family and friends are endless.

Today's Top Three Mansions Medium Home Value 

#1        38 Indian Creek, Indian Creek, Florida 33154 is listed for sale at $23,900,000

The median home value in 33154 is $651,600. 33154 home values have gone up 1.2% over the past year and it is predicted they will rise 2.8% within the next year. 

#2        1188 E Mountain Dr, Montecito, CA 93108 is listed for sale at $16,250,000

The median home value in 93108 is $3,026,400. 93108 home values have gone up 3.7% over the past year and it is predicted they will rise 0.8% within the next year.

#3        10673 East Wingspan, Scottsdale, AZ 85255 is listed for sale at $11,500,000.

The median home value in 85255 is $669,400. 85255 home values have gone up 4.0% over the past year and it iss predicted they will rise 0.6% within the next year. 

The 100 Top Luxury Real Estate Markets Medium Home Values for 2017 compared to 2018 YTD

Zip Code     Location                           2017/2018 Medium Sale Price

Today's Mortgage Rates

Mortgage Rates Unchanged to Slightly Higher
Sep 25 2018, 3:34PM

Mortgage rates were unchanged for some lenders today while others were in slightly higher territory.  Either way, that leaves the average lender at the highest levels in more than 7 years.  For what it's worth, there are a few lenders that were slightly worse off for a day or two earlier this year.  In terms of outright levels, the average top-tier scenario is being quoted 4.875% today.

Why so high?  Part of the problem is ongoing.  A strong economy is not good for rates and neither is additional government borrowing--both big issues in 2018.  Those big issues go hand-in-hand with a Federal Reserve that is more willing to hike its policy rate and shrink its balance sheet.  We'll get a fresh update on the Fed's outlook tomorrow, and indeed, that could be part of the reason that rates are staging at long-term highs.

Simply put, the economic data and the supply/demand seen in the bond market (government borrowing creates more supply) look like writing on the wall, spelling out another warning about ongoing policy tightening from the Fed ("tightening" = "higher rates," in general).  Now we're just waiting for the Fed to confirm they're seeing what we're seeing.  That will happen starting at 2pm tomorrow, and it could be a source of this week's biggest dose of volatility for rates.

52 Week Range          Today   Yesterday           Low/High 

30 Yr FRM4.87%4.86%+0.013.93%4.87%
15 Yr FRM4.32%4.31%+0.013.23%4.32%
FHA 30 Year Fixed4.49%4.48%+0.013.50%4.50%
Jumbo 30 Year Fixed4.40%4.40%--4.12%4.81%
5/1 Yr ARM4.02%4.04%-0.023.15%4.12%