RODEO REALTY JOURNAL
local expertise, global presence. November 2013
November
TABLE OF CONTENTS 1 Rodeo Realty Welcomes New Agents 2,3 Rodeo Realty Economic Report-October 2013 3 Rodeo Realty Running and Walking Club 4 Advanced Classes Schedule 4 Rodeo Realty Joins Zillow Brokerage Network 4 Rodeo Realty Sends 2 Million Pieces of Mail 5,6 Hot Properties 7,8 Hot Sales 9 Agent Appreciation Letters 10 Rodeo Realty Gives Back 11 Brentwood Happy Hour 12 Valley and Westlake Happy Hour 12 Brentwood Celebrates One Year 13 Rodeo Realty Halloween 14 Upcoming Rodeo Events 2013 15. Rodeo Realty Halloween/Rodeo Realty Delivers Pumpkins 16. Upcoming Rodeo Events 2014 17,18 Rodeo Realty Estates Meeting 19 Walk of Ages Event 20 Rodeo Realty in the News
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RODEO REALTY
Welcomes You
Beverly Hills Northridge Evan Harney Claudia Batson Sherman Oaks Ricky Smiles Jessica Holman Studio City Charlotte Pruitt Sunset Strip Brentwood Anya Denisova Wendy Kirshner Benjamin Becal Shel Kirshner Deanna Smith Bobby Bahmanpour Aubree Maugeri Westlake Village Maria Rowe Jenna Kaye Ferri Zimmer Calabasas Ora Mashiach Woodland Hills Hayley Steele Blake Costa Encino
Thank you for the confidence you have entrusted in me and my team. Welcome to the Rodeo Realty family -- Syd Leibovitch
OCTOBER 2013 ECONOMIC WRAP-UP
After a government shutdown of over two weeks, stocks rebounded quickly with both the Dow and S&P 500 hitting record closing highs and the Nasdaq hitting the highest rate it has seen since September 2000. Below are some key economic facts for the month. The Dow finished October at 15,545.57 up 2.75% from September’s 15,129.67 close and 18.7% from last October’s 13,096.46 finish. The Nasdaq was strong, closing at 3,919.71 up 3.93% from 3,771.48 last month and up 31.7% from October 2012’s 2,977.23 close. The S&P 500 closed out the month at 1,756.54, up 4.46% from last month’s 1,681.55 close and up 24.37% over October 2012’s 1,412.16 finish. The 10-year Treasury note yield rate ended the month at 2.57%. It began the month at 2.66% and was 1.72% at the end of October 2012. September’s jobs reports showed that employers added 148,000 non-farm jobs and the unemployment rate fell to 7.2% down from 7.3%. The report is based on data before the government shutdown, we will need to wait for the October report in order to gauge the impact of the shutdown. Interest rates are back down and look like they will stay down at least until early next year. At this month’s Federal Reserve meeting, the Fed opted to continue with the bond-buying stimulus program although the latest statement left it unclear as to when the taper of the program will begin. According to the Freddie Mac Weekly Primary Mortgage Market Survey, the 30-year-fixed rate ended the month at 4.10% after ending last month at 4.32%. This was the lowest rate seen since June. The 15-year-fixed at the end of October was at 3.20% after ending last month at 3.37%. The August report from Case-Shiller revealed that home prices around the country rose 12.8% compared to a year earlier, their fastest annual rate since February 2006. The index rose 1.3% from a month earlier, down from a 1.8% rise seen in July. The National Association of Realtors reported that existing-home sales dropped in September declining -1.9% to a seasonally adjusted annual rate of 5.29 million in September from a downwardly revised 5.39 million in August. The median price of $199,200 was an increase of 11.7% from a year ago. Notice of defaults in California, the first filing in a foreclosure (foreclosure starts) dropped by -58.6% in the third quarter of 2013, the lowest level since the 4th quarter of 2006. Over eight out of every 10 sales in California is now an equity sale.
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OCTOBER 2013 ECONOMIC WRAP-UP
According to the California Association of Realtors. California home sales declined in September down -5.1% from a revised 434,910 in August and down -2.6% from a revised 424,000 in September 2012. The statewide median price of an existing, single-family detached home was 24.4% higher than the revised $344,760 recorded in September 2012, marking the 15th straight month of double-digit annual gains. For Los Angeles the median sold price in September was $459,020 up 3.2% from August’s $444,950 and up 23.1% year over year from $373,020 in September 2012. DataQuick’s September report for the six counties in the Southland area showed that prices fell -0.8% last month (to $382,000) but were up 21.3% over last September. In the usual fall slowdown the report showed that the number of sales was also down over 17% from August but up 7% over last September. In Los Angeles specifically, the number of sales was up 5 % over last year and the median price was up 25% to $425,000 from $340,000 last October.
RODEO REALTY RUNNING AND WALKING CLUB
Get In Shape With Rodeo Realty! Join the Rodeo Realty running and walking club and work on your fitness goals. We cover as much as 7 miles. Syd is part of the fun and everyone meets for Starbucks afterwards! Every Saturday and Sunday Every Saturday 7AM meet the east end of the parking lot of the Encino Golf Course located at Burbank Bl. between Balboa & Hayvenhurst and Every Sunday at Wilshire and Whittier North East corner in park at 7:30 DON’T COME IF IT’S RAINING
ADVANCED TRAINING CLASSES
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Skirball Cultural Center 2701 North Sepulveda Blvd. Los Angeles, 90049 1-3pm Haas Room, Conference Center Free Parking Rodeo Realty’s Advanced Training classes are provided for our agents to help keep you informed and help grow your business. NOVEMBER: 25th –Syd Leibovitch: Power Prospecting--How To Set Up Your Prospecting For A Great 2014 DECEMBER: 2nd – Syd Leibovitch: Evaluating the value of Commercial Properties 9th - Wendy Furth: Cloud CMA 16th – Simon Pozi: Multiple Offers--What can I do to get my offer accepted? How do I handle multiple offers?
Rodeo Realty Hits New Mailing Milestone--2 Million! The year isn’t over yet but Rodeo Realty has already hit a historic milestone, sending out over 2 million pieces of mail this year from our print shop in the Corporate Office. This number easily bests our 1.5 million last year and we are set to deliver on a goal of 2.5 million before the year is out. Congratulations to all the graphic designand productions specialists in the print shop.
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Rodeo Realty Joins Zillow Pro Brokerage Network Rodeo Realty has joined the Zillow for Pros Broker network. Rodeo Realty MLS feeds now go straight to Zillow and the listing agent is always displayed. Zillow is doing this to combat some claims by other syndicators regarding their data accuracy. This should increase visibility for Rodeo Realty and listing agents. Please make sure your Zillow agent profile is filled out with a photo and contact information so that it appears with your listing.
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HOT PROPERTIES GOT A HOT PROPERTY with celebrity credentials? Tell us about it: mediarelations@rodeore.com
Joe Babajian represents the Beverly Hills home of actress Mischa Barton. The Spanish-style home in Bowmont Estates sits on 1.22 acres and has a generous 7,607-square-foot floor plan with 6 bedrooms. Features of note include the master bedroom with its fireplace, dual baths and dressing rooms, as well as outdoor amenities such as the grassy grounds, pool and spa. The property has been covered by Yahoo as well as the Zillow,Redfin, and Realtor.com blogs. It is listed for $8.695 million. David Friedman has the listing for this private 80 acre equestrian compound nestled within the Santa Monica mountains and located within the boundaries of Malibu Creek State Park with endless riding trails on state parkland not to mention peaceful views of rolling hills all around. It was chosen as a house of the day by Curbed. com For the architecture lover it also has an additional building pad with planning approval for an exclusively designed Marmol Radziner 7000+ sq ft home with a guest house, pool/spa, & amazing views. The upper pad includes the completely renovated ranch house w/ highend finishes. It is listed for $9.95 million. Rapper Jayceon “Game” Taylor has listed his house in Glendale with agents Edward Dolce and Ken Marker as reported by the LA Times. Built in 1958 , the gated two-story features an open floor plan, high ceilings with skylights, a game room (really), four bedrooms, five bathrooms and 4,667 square feet of living space. The one-third-acre lot contains a swimming pool and custom-built barbecue area. It is listed for $1.799 million. Diana Kaye has the listing for this Los Angeles home built by silent screen star Agnes Ayres who starred with Rudolph Valentino. The historic Spanish home is on a flat lot in the Hollywood Hills. A turret entry opens to a center hall with beautiful orginal wood corbels. The living room features a stone fireplace, one of four in the home. There’s a sitting room or library with balcony adjacent to the formal dining room. wood burning fireplace, imported fountain and Viking BBQ. It is listed for $1.995 million.
HOT PROPERTIES
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Michelle Hirsch has the listing for this entertainer’s dream in Sherman Oaks owned by Paradigm executive Brad Turell. The home was featured in the LA Times Hot Property section and as a home of the day in the Wall Street Journal. The three-level, 9400-square-foot estate was inspired by Mediterranean and European design & architecture. The social rooms of the main floor include the living and dining rooms, chef ’s kitchen and a private home office. The lower level has a fully equipped movie theatre, large gym, dry sauna, wet steam, arcade room, a bar big enough for most clubs, wine storage room and a private entrance on this level leading to a guest suite. Outside there is a mosaic swimming pool, serene gardens, and a waterfall. Ben Salem has the listing for this 6,458-square-foot home in the gated community of Brentwood Hills. The home belongs to Joe Hahn of the band Linkin Park and was featured in The LA Times Hot Property section. The 5-bedroom estate was designed by award- winning architect James Porter FAIA. The striking contemporary home boasts amazing city, ocean and canyon views. The tranquil master bedroom has a large master bath with large walk-in closet which opens up to a charming terrace. The grounds have been transformed into a modern serene oasis with hiking paths, exceptional views and a complete compost center. Additional features include a three-car garage, maids quarters and an elevator. When it was time for Pete Rose, the Cincinnati Reds baseball legend known as “The Hit King,” to put his home on the market, he turned to Gloria Hicks at Rodeo Realty. Rose and his wife Carol, have listed their Sherman Oaks home for $2.15 million as reported in the LA Times Hot Property section. The story was also covered by Zillow, Bloomberg, Philadephia Magazine and Yahoo Homes. The Spanish-style home has six bedrooms, five bathrooms and 4,719 square feet of living space.The quarter-acre site also contains a swimming pool with spa, a covered patio and a detached multi-use structure. Jennifer Winchell has the listing for this three bedroom home on Mulholland which was featured by Pursuitist.com. The threebedroom home offers over 5,200 square feet of living space with an open kitchen with self-closing cabinets and top of the line Miele appliances including: a built in coffee system, separate full size refrigerator and freezer, wine refrigerator and 6 burner cook top. The home includes an elevator. The master suite has a sleek fireplace and a master bath with a giant steam shower and heated floors. The home is wired for stereo surround sound through the entire space as part of a state-of-the-art smart home system. Large glass doors lead to out to the infinity pool with a swim up bar and spa. The home is listed for $7.825 million.
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HOT SALES
Joe Babajian and Judy Cycon have sold the Kent Kresa home in Beverly Hills. The property sold for $27.5 million and the transaction was covered by the LA Times Hot Property section.
Barbra Stover handled both sides of the transaction in the sale of Downtown Julie Brown’s home in Marina del Rey. The listing was written up in the The Huffington Post and the sale was featured on the Redfin blog.
Ben Bacal handled the transactions when Megan Ellison sold her three properties in the Bird Streets area for close to $47 million. The sale was covered by the LA Times and the Real Estalker among others.
HOT SALES
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Desiree Zuckerman was Karina Smirnoff ’s agent when she picked up a three-bedroom home in the Hollywood Hills for $1.25 million. The purchase was covered by the Trulia blog.
Joe Babajian sold 730 Sarbonne, Tim Morrison’s architectural masterpiece in Bel Air, for $23.5 million. Tai Savet and Rebecca Epstein helped former NFL player Kenny Clark find his dream home in Calabasas. Savet was the lessee’s agent and Epstein was the listing agent. Clark, who played several seasons for the Minnesota Vikings has relocated to Los Angeles to start a career as a sports analyst and host.
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Appreciation Letters From Clients
Alex Vernikov Alex Vernikov is a great asset to Rodeo Realty. He was recently involved in the sale of our home at 17436 Gilmore Street in Lake Balboa. His concern for both my mother and myself was evident when he spoke to us relating to our circumstances where we were living. He came to us at just the right moment, we needed a quality Realtor. We had been approached by other Realtors but they did not seem to understand how we felt about the property where we had resided for 45 years. They were not being actively involved with us but passive. Alex as aware of what we needed to have done and proceeded in a positive manner. In each step of the sale process he stood by both of us explaining all facets of the sale of our home. We were very impressed with the heartfelt personal care he gave to us. When he got us a buyer we were pleased to find out the price we would receive due to the condition of our property. A lot needed to be done that was impossible for us to engage in. I am writing all this as a son who always is deeply concerned for my mom as she has been disabled for some time. I have also had a few health issues lately and do no drive. Here as at other times, Alex stepped up to the plate. Other Realtors were not so gracious. They knew we were interested in a move but were not willing to aid us as Alex was. He knew we wanted to find a nice apartment at a good price and took his personal time to drive me and mom around. He even spoke to the apartment office staff on our behalf even though there ws no financial gain in it for him. Also when the time came for us to move he took more of his personal time to help us transfer several items from our sold home to our new location. Both me and my mom have been touched by Alex Vernikov’s sincerity and devotion to his commitment to us as sellers and as friends. We had only known Alex previously by speaking to him on occasion when he walked the neighborhood. I feel we missed serveral years of getting to know the quality Realtor you have working for you who is selfless and devoted to those he represents. The apartment we now have is quite nice. Although without Alex working with the buyer we would not have it. Just before the sale of our property we were unable to come up with the move-in fees. This added more paperwork and time for Alex. Through his effort money was advanced to our bank account and I wrote a check to secure our new place of residency. More could be said of Alex, yet I would have to write another page. So for now I just want to say thanks for hiring a quality individual. --Jeff Rodseth and Nancy Rodseth
Rodeo Realty Gives Back
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This is the time of year where we all like to do a little more to support local communities. Rodeo Realty is involved in many philanthropic efforts throughout Southern California. Here are a few that our offices are participating in: Rodeo Realty Brentwood Rodeo Realty will be donating money to feed needy families for a whole week! 3,750 meals! They will also be serving meals on Monday November 25. Rodeo Realty Sunset Strip is hosting Thanksgiving Dinner for 40 kids on Thanksgiving Day at the Center’s PROGRAM FOR HOMELESS YOUTH in Hollywood Rodeo Realty Northridge supports Hope Of The Valley Rescue Mission Clothing Drive-Bring clean and serviceable clothes to the Rodeo Realty Northridge office by November 26 or for pickup contact Joyce Riskas. Rodeo Realty Northridge supports the Hathaway Sycamores Adopt A Family Program-We have been assigned 3 Families in need to provide Christmas gifts, meals, trees, etc. On December 8 Rodeo Realty will participate in the Walk of Ages Los Angeles to benefit the Jewish Home For The Aged. Rodeo Realty is the sponsor for the 15th year. Rodeo Realty supports the Connections for Children Holiday Angels Program. They are having a Toy Drive from now through December 16th. THANK YOU TO ALL OUR BIG-HEARTED AGENTS AND STAFF WHO ARE HELPING MAKE THE HOLIDAYS A LITTLE BRIGHTER FOR ALL!
Rodeo Realty Wishes You And Your Family and Friends A Very Happy Thanksgiving Holiday!
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Brentwood Happy Hour
On November 13 Brentwood agents gathered at Bru Haus for a happy hour event.
Valley and Westlake Happy Hour Event On October 22 agents from the Valley and Westlake Village offices gathered for a happy hour event at Kravings.
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Rodeo Realty Halloween 2013
Upcoming Rodeo Realty Events 2014
November 19 Spare The Turkey Potluck at the Northridge Office November 19 Valley Happy Hour Event--El Torito, Sherman Oaks 4-7 pm November 20 Potluck at the Encino Office November 25 Volunteers from the Brentwood office will be serving meals on Monday November 25th from 5-6:30 PM at Turning Point 1447 16th St, Santa Monica. November 28 Rodeo Realty Sunset Strip is hosting Thanksgiving Dinner for 40 kids on Thanksgiving Day at the Center’s PROGRAM FOR HOMELESS YOUTH in Hollywood December 8 Walk of Ages Los Angeles to benefit the Jewish Home For The Aged. Rodeo Realty is the sponsor for the 15th year. Office team captains needed! Contact Wendy Cox Manager of the Studio City office at 818--7617222 or wendycox@rodeore.com. December 18th and 19th California Association of Realtors Economic Forecast with Leslie Appleton Young and Joel Singer Wednesday December 18th Arclight Sherman Oaks 9:30 AM Thursday December 19th AMC Theater Century City 9:30 AM December 21 RODEO REALTY HOLIDAY PARTY Sheraton Universal 7 pm
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RODEO REALTY HALLOWEEN 2013
RODEO REALTY DELIVERS PUMPKINS
Pumpkins are popping up everywhere! Rodeo Realty - Westlake Village agent Leo McHale and his team delivered 1,400 in his community.
Upcoming Rodeo Realty Events 2014
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January 30 2014 Rodeo Realty Winter Conference Speaker to be announced. Panel on digital marketing and personal branding Panel on how to work with business managers, money managers, and wealth managment experts. Panel on dominating your farm area. Benefits of LuxuryRealEstate.com This event includes a continental breakfast, lunch, and a networking party with cocktails afterward. February 27, 2014 Estate Meeting 12 Noon--lunch to be served Estate home to be announced March 6, 2014 11:30 AM top producer awards lunch. Invitation only Luxe Hotel Brentwood March 27, 2014 Architectural Division lecture AMC Century City 9:30 AM April 23, 2014 Arclight Sherman Oaks 9:30AM annual legal meeting with our attorney. E and O insurance carriers require these yearly April 24, 2014 same legal meeting at AMC Century City 9:30AM May 17, 2014 Rodeo Realty Casino Night 7PM June 19, 2004 Rodeo Realty Summer Conference agenda to be announced
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RODEO REALTY ESTATES MEETING We had beautfiul weather for our estates meeting at Joe Babajian’s spectacular listing at 301 Copa de Oro in Bel Air. Agents (and Syd) presented key information on market data, major sales, and current listings. Our next estates meeting will be held in January.
Rodeo Realty Estates Meeting
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WALK OF AGES XIV EVENT
RODEO REALTY IN THE NEWS
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What’s life like at the top of the real estate market? To find out The Hollywood Reporter turned to the city’s top real estate agents including Rodeo Realty’s own Peter Maurice and Josh Flagg to uncover the biggest deals that happen in “hyperspecific” areas of the city.
Josh Flagg was interviewed by The Real Deal in New York about the differences between real estate in LA and NYC. Rodeo Realty agent Sam Kwasman was instrumental in getting North Hills West reintegrated into Granada Hills. He was featured in the LA Daily News and was quoted as saying: “This is a great day for us. We are back to where we belong as part of Granada Hills.”
Natalie Alchadeff not only participated in this year’s pumpkin drop offs as seen at left, she also is cutting off her hair in order to donate it to Locks of Love, a non-profit organization that provides hairpieces to children suffering from medical conditions that have caused hair loss.
Rodeo Realty agent Stefen Liberti officially has the cutest dog in West Hollywood according to WEHOville.com which hosted a cutest dog contest. His Siberian Husky Dolce beat out around 100 other entrants to claim the title.
Get some great press? Share it with us at mediarelations@rodeore.com