RODEO REALTY JOURNAL
local expertise, global presence. October 2013
October 2013
TABLE OF CONTENTS
1 Rodeo Realty Welcomes New Agents 2,3 Rodeo Realty Economic Report-September 2013 3 Rodeo Realty Running and Walking Club 4 Advanced Classes Schedule 5,6 Hot Properties 7,8 Hot Sales 9, 10, 11 Agent Appreciation Letters 12 Brentwood Celebrates One Year 13 Day At The Races 14 Upcoming Rodeo Events 2013 15. Rodeo Realty Delivers Pumpkins 16. Upcoming Rodeo Events 2014 17 Walk of Ages Event 18 Rodeo Realty in the News
INDEX
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RODEO REALTY
Welcomes You
Beverly Hills Northridge Farahnaz Ghardash Sharon Militello Jimmy Heckenberg Sherman Oaks Brentwood Judy Handler Studio City Warren Handler Linwood Fullam Mark Handler Deana Jill Doetzl Mona Cohen Sunset Strip Calabasas Westlake Village Encino James McDade Woodland Hills
Thank you for the confidence you have entrusted in me and my team. Welcome to the Rodeo Realty family -- Syd Leibovitch
SEPTEMBER 2013 ECONOMIC WRAP-UP
Amid fears of a government shutdown, the Dow finished September at 15,129.67 up 2.16% from last month’s 14,810.31 close and up 12.65% from September 2012’s 13437.13 close. The Nasdaq ended the month at 3,771.48, a gain of 5.06% from August’s closing of 3,589.87 and up 21% from a 3116.23 close last September. The S&P 500 closed out the month at 1,681.55 up 2.98% from August’s 1,632.97 close and up 16.72% from last year’s September close of 1440.67. The 10-year Treasury note yield rate ended the month at 2.64%. It began the month at 2.86% and was 1.65% at the close of September in 2012. Interest rates dropped at the end of the month due to fear that the economy may suffer due to Congress’ inability to both pass a resolution to fund the government, and increase the debt limit. Rates were down at the end of the month according to the Freddie Mac Weekly Primary Mortgage Market Survey. The 30-year fixed rate dropped down to 4.32% from last month’s 4.51%. The 15-year rate also fell to 3.37% from last month’s 3.54% . A year ago this week according to the survey, the 30-year rate was at 3.4% while the 15-year rate was at 2.73%. We are seeing 30 year fixed conforming rates at about 4.25%. 4.5% for high balance conforming, and 4.75% for jumbo rates. The California Association of Realtors reported that home prices rose in August, the statewide median sold price of an existing, single-family detached home was up 1.7 % from July’s median price of $433,910 to reach $441,330 in August, the highest price recorded since December 2007 and 28.4% higher than the revised $343,800 recorded in August 2012. For the Los Angles Metro area the median sold price in August was $394,550 down -.1% from July’s $395,120 but up 25.3% from last August’s $314,870 median. Inventory remains far below average at 3.2 months. The National Association of Realtors reported that existing home sales hit their highest level in 6 ½ years in August as fears over rising interest rates pushed many to close deals. Existing home sales were up 1.7% to a seasonally adjusted rate of 5.48 million in August up from 5.39 million in July. They were up 13.2% annually. Nationwide inventory of existing homes
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SEPTEMBER 2013 ECONOMIC WRAP-UP
rose .4% to 2.5 million homes, representing a 4.9 month supply, still below normal levels. Numbers released by DataQuick showed that the median sales price in the six-county Southland area was $385,000 the same as it was in June and July but up 24.6% over last year. In Los Angeles County the median price rose 28.1% to $429,000 in August. The national unemployment rate for the country was 7.3% in August, down from 7.4% the previous month partially due to the fact that 312,000 people dropped out of the labor force. California’s rate was 8.9%. -Syd Leibovitch
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 at Balboa Park in parking lot at 7AM 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 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. OCTOBER 28th - John Gould: “Rentals/Leases/Referrals” – What paperwork is required, what to look out for; Gathering information so your Landlord can properly screen tenants. NOVEMBER: 4th – Syd Leibovitch: “Psychology of Real Estate Sales” – How to help your clients make the right decision. 11th – HOLIDAY (Veterans Day) 18th - Kris Mooney. “Slump Proof your Business” – Energy driven ways to position yourself for success. 25th – Jason Katzman: How to get the Right Price / For Sale By Owner 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?
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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. Barbra Stover has the listing for this home in Marina Del Rey which belongs to former MTV host Downtown Julie Brown. The property was highlighted on the Huffington Post in their Celebrity Homes section as well as on PopSugar.com. The home has beautiful views of the canals and ocean. Says the Huffington Post: “The multistory abode is incredibly spacious thanks to vaulted ceilings, crisp white walls and stunning windows.� It is listed for $3.195 million. Angel Salvador has the listing for this home in Stevenson Ranch which belongs to stuntman and actor James Lew. The main level includes a formal living room with high ceilings and a fireplace. All four bedrooms are upstairs including the superb master suite with wood floors, a walk-in closet, a fireplace and a retreat. Relax in the luxurious master bathroom with a separate bathtub and shower. A pool, spa, waterfall, barbeque and outdoor fireplace are surrounded by beautiful lush landscaping. It is listed for $899,000.
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 Spanish-style home has a gated courtyard, grand foyer, skylights, wrought-iron railings, 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. And yes, sports fans, there is a memorabilia room. The Ford Estate is featured in the November issue of Architectural Digest as one of their estates for sale. The elegant estate in Ojai, California was designed for William Ford, Board Chairman and controlling stockholder of one the largest glass companies in the world, by famed architect to the stars, Paul Revere Williams. The extremely private gated estate sits on 3 plus acres with mature oak trees and a working tangerine grove. The property is listed with Rob Johnson.
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HOT SALES
Adi Livyatan sold her Beverly Hills listing at 256 S. Linden for a record price in that neighborhood. It was listed for $4.495 million and sold for $4.675 million ($180,000) over asking.
Lou Woolf was the seller for Jenna Fischer’s home in Studio City. Fischer, one of the stars of “The Office” sold the home for $2.015 million. The sale was written up in the LA Times Hot Property section as well as on Yahoo, Zillow, and Realtor.com
Debi Raveh and Adrienne Carolan were the buyer’s agents for musician and artist Mark Mothersbaugh’s purchase of a multi-use space in Chinatown for $798,000. The purchase was featured in the LA Times Hot Property section.
HOT SALES
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Michael Chez was the buyer’s agent for the former home of singer/actor Frankie Avalon in Hidden Hills. The home sold above list price for $3.7 million.
Frank Trejo sold his listing at 5421 Lubao Ave., in Woodland Hills for $1.95 million which works out to $475.00 a sq.ft. For all properties over 3500 s.f. , in the area it was the highest per s.f. sale so far this year.
Peter Maurice and Tregg Rustad were the listing agents for the sale of guitarist and songwriter Billy Howerdel’s home. The sale of the Studio City property was featured in the LA Times Hot Property section.
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Appreciation Letters From Clients
Donee Chabot We have recently used one of your agents, Donee Chabot in two separate real estate transactions. One was the purchase of a townhouse, the other, the leasing out of the same townhouse after renovations a few months later. We just want to let you know that we were extremely satisfied with the way she represented us in both transactions. She showed extreme knowledge of all the rules, regulations, and intricacies involved in the transactions, which are made overly complicated due to government requirements. She was prompt and on time for all of our meetings, was patient going through all the different forms with us, gave us useful advice when it was needed--we just could not be more satisfied with the way she represented us and watched out for our interests. We will definitely ask for her to represent us in any future real estate related matters, and we are recommending her to all our friends as well. --Lazlo and Jelena Csanyi
I finally have a moment in time to send you this letter now that my husband and I have settled into our new home. Your agent Donee Chabot was who helped us in selling our old house, and we would not hesitate to use her again. We would highly recommend her to anyone for any real estate transaction. She is professional and was willing to answer all our questions and explain those we did not understand. It helped us get through the highs and lows. She is a great asset to your team of Realtors. We thank you and her for making our dream come true. --Tony and Beverly Nelson
Appreciation Letters From Clients
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Jay Geisenheimer Dear Jay, We are very happy with our new home. We are certain that we would not have this lovely home without your guidance and expertise in the Burbank Rancho Community!. You listened to exactly what we wanted and showed us multiple homes in the area. When we first saw our new home, before we bought it, it was like you went out and found the perfect home for us, our horses, and our dogs. You helped us along in the process with negotiating, inspecting, moving, painting, cleaning, and gardening. Your connections and network in the Rancho is fantastic. We feel very lucky to have you as our Realtor!! We strongly encourage others to engage your services with their home searches too!! Beat, Michael & Kayla Elson
When you think of qualities that you look for in a real estate agent: professional, honest, attentive, knowledgeable in their business, assertive when needed, you get that with Jay Geisenheimer. When we listed our home with Jay, she walked us through every step. She touched on everything and advised us extremely well. Especially with price. She assisted us in pricing our home such that we actually were offered over $120,000 over asking, and we were thrilled. Jay’s marketing ability is superb! over 100 hundred people attended the open house. We felt as though she had a party and we weren’t invited. LOL! Jay had extra help there for security as well as a country singer. Jay’s property video, flyers, and mailer are very high class and a beautiful presentation of our home. She was prompt to return any calls, texts or emails, which helped alleviate any stress and kept us up to date and in the know. We would recommend Jay to anyone thinking of listing their home. This is a results oriented, friendly, smart agent. You will not be disappointed. Maureen & WK Stratton
Last month Jay came to my house and said “I have a buyer”. I said “I’m ready”. And thus began the smoothest and easiest escrow! Jay has not only been a great Realtor but she is a good friend to the Rancho too. Not only was the deal as quick and painless as a deal could be but I felt like Jay has also been a high end match maker! It was really important to us that the people who bought our house would be equestrian, but also young and fun. The buyers fit our specs perfectly and we couldn’t be happier to let them take ownership of something we built and love [they are even taking over our chickens]. The Rancho is a magical and surreal place that we have been so happy to call home and seeing Jay & Casanova on the street each day is one of the things I will miss the most. I am extremely thankful for Jay putting both sides of the deal together. Definitely was a win-win-win situation and who doesn’t like those!!! Isadora
Appreciation Letters From Clients
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Bonnie Ershoff I am writing this email to express my deep appreciation and gratitude to Bonni Ershoff who helped me as my agent in the purchase of my new home at 5200 White Oak Ave #32 in Encino. This unit was a bank foreclosure property, thus the entire purchasing process was very time-consuming and full of challenges. Bonni worked very hard to help me and to protect my interest. Bonni played a very important role in coordination between the bank, HOA, lender and escrow company, to ensure all processing was completed properly. She was very responsible and reliable. Bonni is clearly the best buyer agent one would wish to have. I cannot image how I could have gotten this purchase done without Bonni. I would also like to thank you for having such a great employee as Bonni in your organization. I would highly recommend Bonni and Rodeo to everyone without any reservation. Thanks! Sincerely, Minsong Cao
Rodeo Realty Wins Luxury Real Estate Award Rodeo Realty was honored with the ‘Best Brand Integration’ award which is given to the Luxury Real Estate member or company that consistently displays the Board of Regents and/or Luxury Real Estate logo and brand in conjunction with their own brand. As a member of the Board of Regents, Rodeo Realty utilizes an array of powerful marketing solutions for growing and promoting this successful real estate business. Rodeo Realty founder and President Syd Leibovitch attended the Luxury Real Estate conference in Atlanta las a member of the Board of Regents. Syd spoke at the Regents conference on his strategy for international marketing. Because Los Angeles is one of the most popular cities for foreign buyers, Rodeo Realty has developed a top notch strategy for attracting and catering to these valuable clients.
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Brentwood Celebrates One Terrific Year!
The Rodeo Realty Brentwood office gathered to celebrate a great first year. Congratulations to all Brentwood agents, staff, manager Simon Pozi and assistant manager Claudia Beck on a year of hard work and stellar accomplishment!
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A Day At The Races
Top agents from Rodeo Realty enjoyed the Day at the Races event on October 17 at Santa Anita. A good time was had by all and some agents walked away with extra cash in their pockets!
Upcoming Rodeo Realty Events 2014
November 14 Estate Meeting 12noon--lunch to be served estate home to be announced November 28 Thanksgiving volunteers needed! Rodeo Realty sponsors homeless shelters and we need volunteers to help out. Contact Susan in the Corporate office at susan@rodeore.com or 310-471-2600 to offer your assistance. 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 DELIVERS PUMPKINS
Rodeo Realty agent Tom Otero was a busy man on October 18. He delivered over 1,000 pumpkins to local neighborhoods and schools around the Lake Hollywood area. Tom reports that he has already received many calls and emails from happy and surprised neighbors who found a little touch of fall on their doorsteps.
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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WALK OF AGES XIV EVENT
RODEO REALTY IN THE NEWS
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Mona Cohen was featured in the Brentwood Focus Magazine October/November issue offering advice for those interested in selling their homes.
Ron Tanzman was quoted in the LA Times talking about the potention impact that a long-term government shutdown could have on the housing recovery. He told the Times that two of his buyers planned to use FHA-backed loans, but the deals were now on hold. “You can’t close any FHA deals right now,” he said. “We just got notice from the lender that we are in a stalemate.”
Steven Bijan Mesbah was quoted in the Reno Gazette-Journal regarding his work with Las Vegas developers Siegel Group and their move into the downtown Reno area.
Rodeo Realty agent Lou Woolf met with Mayor Eric Garcetti at lunch with the Mayor for the San Fernando Valley October 16 at the at the Woodland Hills Marriott. Woolf was representing the Encino Chamber of Commerce as its Vice President. Rodeo Realty agent (and artist) Frank Burns was featured in the 2013 annual report from the Braille Institute for his work in the Express Yourself Creative Arts program. His prints have had public showings and he recently launched a course on real estate basics at the Braille Institute Los Angeles.
Rodeo Realty agent Betty Galvan’s son, Matthew (with Hodgkins Lymphoma) was featured in a new Porter Ranch Community publication regarding the schools. He is on the cover (the one in the plaid shirt).
Get some great press? Share it with us at mediarelations@rodeore.com