Tuesday, February 13, 2018


Today's Best Mansion


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


#1       9318 Nightingale Drive, Los Angeles, CA 90069 with 5 bedrooms, 8 baths and 9,000 sq.ft. is listed for sale at $29,950,000.



Deftly executed by Zoltan Pali of SPF:architects and built by Dugally Oberfeld, this award-winning contemporary home on L.A.'s Bird Streets is offered for the first time ever. The gated residence showcases museum-quality construction and exquisite interiors, with sliding walls of glass taking full advantage of sweeping city and ocean vistas. Austrian textured wood floors and stone and wood paneled walls lend warmth to open living and dining spaces. The main level holds two generous bedrooms and a custom-designed Italian Del Tongo kitchen. Upstairs features three light-filled bedrooms, including a glass-enclosed master suite with a private terrace. A temperature-controlled wine cellar, tiered movie theater, study, and spa with sauna grace a lower level. Expansive grounds by Andrea Cochran, including dining terraces, a grand lawn and 70' infinity-edge pool and spa, plus Crestron automation and a 4-car auto gallery, complete this iconic offering of exceptional architectural pedigree. 













Today's Top Real Estate News


Here's how a 5% mortgage rate would roil the US housing market.


CNBC.com



  • Mortgage rates have not been at 5 percent since 2011.
  • A 5 percent rate would cause more than a quarter of today's homebuyers to slow their plans, according to a Redfin survey.
  • Housing affordability is starting to hurt.

4%, 30 year, $400,000 Loan

Total Payments
$687,478.03
Total Interest
$287,478.03
Number of Monthly Payments
360
Monthly Payment
$1,909.66

5%, 30 year , $400,000 Loan

Total Payments
$773,023.14
Total Interest
$373,023.14
Number of Monthly Payments
360
Monthly Payment
$2,147.29


Mortgage rates are now at their highest level in four years and poised to move even higher. The timing couldn't be worse, as the usually busy spring housing market kicked into gear early this year amid higher home prices and strong competition for a record low supply of homes for sale.

Add it all up, and affordability is starting to hurt.


The average rate on the popular 30-year fixed is now right around 4.50 percent, still low when looking historically, but buyers over the past six years have gotten more used to rates in the 3 percent range. Mortgage rates have not been at 5 percent since 2011.

A 5 percent rate would cause more than a quarter of today's homebuyers to slow their plans, according to a Redfin survey of 4,000 consumers at the end of last year. Just 6 percent said they would drop their plans to buy altogether. About one-fifth of consumers said 5 percent rates would cause them to move with more urgency to purchase a home, fearing rates would rise even further. Another fifth said they would consider more affordable areas or just buy a smaller home.

Despite rate concerns, the bigger issue for buyers is changes to tax laws that had lowered the cost of homeownership. Specifically, the deduction on property taxes is now limited to $10,000. While that does not affect homeowners in the majority of the country, it does hit those in high-cost states like New York, New Jersey and Illinois, and those in higher-priced housing markets like California.

Some have claimed that higher rates and the new tax law will put downward pressure on home prices, alleviating some of the current sticker shock, but other factors are fighting that assertion.

"Tight credit, lack of inventory and high demand are the major factors that tell us there's no housing bubble, despite rapid price increases," said Redfin's chief economist, Nela Richardson. "There are still many more buyers than the current housing supply can support, with no major relief in sight."

Unlike during the last housing bubble in the mid-2000s, mortgage lenders today are much more strict with regard to the borrower's ability to repay the loan. They are required by new regulations in the industry to be that way. Higher mortgage rates may mean some borrowers on the margins will not qualify for the size of the loan they need or want.

Mortgage rates have been quite volatile in recent weeks especially given the wide swings in the stock market. Rates loosely follow the yield of the 10-year Treasury, which moved higher again Monday. Things could change Wednesday, with the release of the monthly read on the consumer price index.

"The most informative and disconcerting reaction would be a weak CPI reading followed by a knee-jerk rally that then gives way to more selling. That would be the worst case scenario in terms of implications for the bigger picture," wrote Matthew Graham, chief operating officer of Mortgage News Daily. "Conversely, an eventual rally that follows stable or stronger CPI would suggest bonds are increasingly ready to hold their ground near current levels."



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     1035 Stratford Court, Del Mar, CA 92014 with 5 bedrooms, 6 baths and 4,721 sq.ft. is listed for sale at $8,795,000.




This home is a rare treasure in the heart of Del Mar! One of the best locations around, this new construction home is only a block from the beach and walking distance to Old Del Mar. This exceptional craftsman home blends beautifully into the charming Old Del Mar neighborhood, while offering modern interior architectural design. With 4,721 square feet of living space, this 5-bedroom, 5 ½ bath home with separate office features three stories of living space with expansive ocean views. The main level includes a family room with a beautiful wood burning fireplace as its centerpiece, and a white wood beamed and paneled ceiling. The kitchen has a 6-burner Wolf stovetop and oven, a Subzero refrigerator and a warming drawer. A unique iron and glass staircase leads downstairs to a media/game room with a must-see wet bar that includes a wine refrigerator and four pull-out beverage drawers. There are an additional 3-bedrooms and large storage room downstairs. The entire third floor is a spectacular master retreat with incredible views and a rooftop terrace for enjoying those spectacular San Diego sunsets. The home features many special balconies and patios that lead to a true entertainer’s backyard – a covered barbecue dining room, enormous in-ground hot tub, fire pit, and six off-street parking spaces. Beautifully landscaped with raised vegetable beds, citrus trees and an outdoor shower. This home is a one-of-a-kind beauty inside and out!











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       778 Sarbonne Road, Los Angeles, CA 90077 with 7 bedrooms, 8 baths and 7,017 sq.ft. is listed for sale at $35,000,000.



Prime Lower Bel Air. Magnificent private Colcord gated Estate w/ 5BR and 5.5BA plus newer construction 2 story guest house w/ 2BR 2.5BA. Vast flat lawns and magnificent gardens. First time on the market in close to 20 years! Finest view Estate in all of the City of Los Angeles with stunning, views from downtown to the ocean. Located on a cul-de-sac street. A long cobblestone driveway enters a circular motor court. Exquisite, Private and Elegant Residence. The Estate showcases a circular foyer leading into a formal dining room w/ views of the Ocean and city lights. New custom built kitchen with Italian polished limestone back splash and caesarstone counters. Formal living room. Expansive family room designed by A. Quincy Jones with Roman Travertine floors. Pine paneled library. Den/office. Lavish Master Suite w/ a custom designed onyx shower. Pool. Approximately 1.5 acre lot ideal to build your dream home. Includes soil reports and survey.














Today's Top San Francisco Luxury Estate



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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      2100 Broadway Street, San Francisco, CA 94115 with 6 bedrooms, 5 baths and 8,900 sq.ft. is listed for sale at $17,800,000.


Some opportunities rarely occur, and when they do, you must take notice. This home is one of those rare opportunities that demands your attention. This 4-level home was built in 1917 and represents the finest SF has to offer. Features 5+ bedrms, 51/2 bathrms, gym, family/media room, multiple home offices, wine room, 6 fireplaces and so much more! The grand scale and volume of this home is unrivaled. Wonderful original architectural detailing thruout in addition to the tasteful remodeling incorporating many classic Art Deco features.The VIEWS in this house are unparalleled and showcases sweeping views of the Golden Gate Bridge, Palace of Fine Arts, SF Bay, including Sausalito, Belvedere, Tiburon, Angel Island and Alcatraz.










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            1425 80th Avenue NE, Medina, WA 98039 with 4 bedrooms, 4 baths and 3,589 sq.ft. is listed for sale at $3,150,000.




Understated modern elegance... Custom designed and built but never lived in, no detail was overlooked. Two master suites with spa-like baths. Subzero, Wolf, Fischer-Paykel and Lutron lighting. Walls of glass open to the outdoors with 3 patios that become an extension of the house. Custom built cabinetry throughout. Spend summer nights on the deck overlooking the outstanding views of Overlake Golf Course, Clyde Hill and the Bellevue skyline. Easy access to Medina Park, DT Bellevue and more



















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         6500 East Cholla Drive, Paradise Valley, AZ 85253 with 5 bedrooms, 6 baths and 7,600 sq.ft. is listed for sale at $5,295,000.



A Rare 1.88 large estate lot secluded area, newer home with panoramic mountain views. Privately gated home, sprawling lawn with over 8,000 square feet that could be added if desired, a separate side entrance for rear yard. This home shows brand new, only used part time and meticulously cared for. Home is being sold with all audio video equipment which includes video cameras, tv's throughout, built in speakers, sonos system. A unique interior courtyard featuring a fireplace, a bonus/game room, 10' tall bifold doors, open floor plan with flexibility, 5 car garage with attic storage. North south facing home, wet bar which features built in ice maker and wine fridge, backyard is an entertainers dream with a resort style swim up bar under ramada, misters and two bbq's. Truly one of a kind home.
















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      56 Rose Crown, Avon, CO 81620 with 6 bedrooms, 9 baths and 9,824 sq.ft. is listed for sale at $19,500,000.





Your best life begins with a home that inspires you. With the most majestic views in the Vail Valley and its striking modern architecture, this 6-bedroom, 9-bathroom, Mountain Star estate just might be the perfect muse. Located next to the national forest and only minutes away from Vail and Beaver Creek, this home will enlighten and provide the serenity you have been seeking. Every aspect of this home reflects who you are, where you've been and the life you aspire to live.   























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     5012 Fischer Island Drive, #5012/3, Miami Beach Florida with 6 bedrooms, 7 baths and 6,700 sq.ft. is listed for sale at $13,900,000.




Experience the ultimate in luxury island living in this 100% gutted, completely renovated (mid-2017) contemporary, ground floor, bay front residence on Fisher Island. Boasting breathtaking wide water views and impeccable high-end finishes throughout, this 6,700+ sq ft unit offers porcelain tile floors, a gourmet kitchen with Subzero and Wolf appliances, 12' ceilings, Hurricane impact windows, amazing wide bay, Miami skyline, ocean, Virginia Key and sunset views from an expansive full length terrace. Every room is oversized and was designed with impeccable taste and luxurious contemporary finishes for the most discerning buyer. The residence offers four garage spots for cars and two for golf carts.




















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      308 West 88th Street, New York, NY 10024 with 5 bedrooms, 8 baths and 8,505 sq.ft. is listed for sale at $13,750,000.




Beautifully and impeccably renovated landmarked townhouse located on a prime Upper West Side block in the coveted Landmarked District! This completely renovated single family townhouse has been masterfully reimagined and features the best in high-end design, finishes, and smart home technology. The 21-foot wide home is configured as a five bedroom with a full-floor master suite, six full-baths, 2 half-baths, and approximately 1,335 square ft. of outdoor space. By the beautiful elliptical staircase, or elevator, one can access each floor of the approximately 8,500 square ft. home, which has six levels plus a full-height finished cellar. Each room in the home is generously proportioned and benefits from amazing natural light, with ceiling heights of over 11 feet. The first-floor entry foyer leads to a flexible open entertaining space, perfect for informal gatherings or a quiet night at home. The European chef's kitchen is outfitted with Italian Biefbe Cucine cabinets, and Miele and Subzero appliances. The beautiful south-facing garden is accessible from this floor with 20' high bamboo, beautiful slate seating and a waterfall. The parlor level boasts a dining area, living room and library. The full floor master suite boasts a sitting area, wet bar, spa-like bathroom and abundant closet space. The fourth and fifth floors are comprised of four additional bedrooms each with wood burning fireplaces. The penthouse level with skylight includes a north-facing outdoor terrace, south-facing Juliet balcony, and a full bath with steam shower. The full height finished cellar has a temperature-controlled mahogany clad wine cellar, gym, half bath, and a laundry room. With unmatched attention to detail and custom finishes this is truly a must see! 











Today's Best Mortgage Rates.

Mortgage Rates Steady at 4-Year Highs Despite Warning Shots


Mortgage rates were generally in line with Friday's latest levels today.  Unfortunately, those happened to be the highest in more than 4 years

Rates are primarily determined by the prices and yields of bonds.  The bond market has increasingly been under pressure over the past four months for a few key reasons.  One of those reasons has to do with simple supply and demand.  The government issues bonds to supplement revenue or to pay for new spending (i.e. 2018's expected drop in tax revenue created the need to issue more debt).  More issuance (i.e. more "supply") creates lower bond prices and higher rates (prices and rates move inversely).

Although bond markets received another warning shot with respect to increased supply today due to the unveiling of Trumps's new budget, market participants didn't do much with that information.  Bonds were mostly unchanged as they wait for bigger, more important news like Wednesday morning's Consumer Price Index (inflation data).

There's not much--if any--sense in floating your rate and hoping for a bounce in this environment.  That said, the higher rates go, the more odds increase that we'll see things bounce back.  It remains to be seen how big such a bounce will be and how long it will last
52 Week Range Mortgage Rates

ProductTodayYesterdayChangeLowHigh
30 Yr FRM4.50%4.50%--3.84%4.50%
15 Yr FRM3.87%3.86%+0.013.12%3.87%
FHA 30 Year Fixed4.31%4.30%+0.013.35%4.31%
Jumbo 30 Year Fixed4.55%4.55%--4.10%4.60%
5/1 Yr ARM3.46%3.45%+0.012.99%3.46%
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!