Media Relations

October 15, 2016

Economic update for the week ending October 15, 2016

Stocks down this week as companies begin to report 3rd quarter profits – The week began with disappointing 3rd quarter profits from a few early reporting companies. Alcoa and others shocked investors with weak results which caused markets to sell off sharply. By the end of the week Citi and JP Morgan Chase reported higher than expected profits which caused stocks to make up some of the week’s loses, and gave hope to investors that, as more companies report, profits may be better than they felt at the beginning of the week. Other news this week was that: Oil hit a high for the year at over $51 a barrel. Minutes released from the September Fed meeting has investors feeling that The Federal Reserve will raise rates at the December meeting. A drop in Chinese manufacturing has caused renewed concerns on the strength of China’s economy. The Dow Jones Industrial Average closed the week at 18,138.38% down from 18,240.49 last Friday. The S&P 500 closed the week at 2,132.98%, down from 2,153.74 last week. The NASDAQ closed the week at 5,214.16, down from last week’s close of 5,291.40.

U.S. Treasury Bond yields higher this week – Fears of higher rates has pushed bonds up again this week. The 10 year U.S. Treasury Bond yield closed the week at 1.80% up from 1.73% last Friday. The 30-year U.S. Treasury Bond closed at 2.55% up from 2.46% last week. Mortgage rates follow bond yields so we watch bond yields closely.

Mortgage rates edge up this week – The Freddie Mac Primary Mortgage Survey released on October 13 showed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 3.47%. The 15-year fixed average rate was 2.76%. The 5/1 ARM average rate was 2.82%. I’d expect to see rates a little higher again next week based on where we were at the end of the week.

China tops list of foreign buyers for fourth year – According to a survey from The National Association of Realtors, China ranked first among foreign nationals purchasing property in the U.S. for the fourth straight year. U.S. Home sales totaled $27.3 billion. That exceeded the total of the next 4 countries combined.

September home sales figures will be released next week by The California Association of Realtors. Pending sales were up slightly in August. If those pull through to closing closed sales should remain strong. We shall see next week.

Have a great weekend!

October 14, 2016

Rodeo Realty's Studio City agent Blayne Pacelli sells longtime home of Anthony Geary; Roger Perry represents buyer

Popular General Hospital alum Anthony Geary has officially parted ways with Los Angeles. The GH star “Luke Spencer” has sold his longtime home for $950,000. His home was listed by Blayne Pacelli of Rodeo Realty. Pacelli represented Geary, Roger Perry of Rodeo Realty represented the buyer.

The 1979 home has 3 bedrooms, 2 1/2 bathrooms and an incredible view of downtown Los Angeles. The bedrooms are very generous in size, two of which have their own private bathrooms; the master bathroom comes with its own private balcony. The open kitchen flows into the dining and living areas. Wood beams on the ceiling add a rustic accent to the white color scheme throughout the three-story home. The 2,400+ sq. ft. property has reflective windows, allowing one to see out but not in. Public records show the home was purchased by Geary in 1982. The property video on his home received more than 43,000 views on YouTube since being posted in July.

Geary tells the listing agent that Elizabeth Taylor crashed over a few times—near the same time Taylor did a multi-episode arc on General Hospital. Geary didn’t confirm his affair with Taylor until 25-plus years later in 2010. After retiring from the show, the actor reportedly moved to Amsterdam. Geary is best known for playing the role of Luke Spencer on the ABC daytime drama General Hospital. The actor debuted on the show in 1978. He holds the distinction of winning a record eight Daytime Emmy Awards for Outstanding Lead Actor in a Drama Series.

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October 8, 2016

Economic update for the week ending October 8, 2016

U.S. Employers add 156,000 jobs in September – The Bureau of Labor Statistics reported that the total nonfarm payroll employment increased by 156,000 in September, a decent gain but slightly below market expectations. This year, job gains have averaged 178,000 per month, down from last year’s pace of 229,000. The nation’s unemployment rate was 5.0%, up from 4.9% in August, as more workers entered the job search. Average hourly earnings increased by 6 cents to $25.79, after just a two-cent increase in August. Year over year, average hourly earnings have risen by 2.6%.

Stocks down for the week – Stocks fell this week on fears of higher interest rates. Stronger than expected auto sales and manufacturing data caused investors, once again, to fear a rate hike by the Federal Reserve. The jobs report showed 156,000 new jobs added in September which was a little below expectations, and a 2.6% rise in wages over last September, which was at expectations. This also has investors believing that a rate hike is coming soon. The Dow Jones Industrial Average closed the week at 18,240.49, down from 18,308.15 last Friday. The S&P 500 closed the week at 2,153.74, down from 2,168.27 last week. The NASDAQ closed the week at 5,292.40, down from last week’s close of 5,312.00.

U.S. Treasury Bond yields higher this week – Fears of higher rates has pushed bonds up over the last month. The 10 year U.S. Treasury Bond yield closed the week at 1.73%, up from 1.60% last Friday. The 30-year U.S. Treasury Bond closed at 2.46%, up from 2.33% last week. Mortgage rates follow bond yields so we watch bond yields closely.

Mortgage rates unchanged this week – The Freddie Mac Primary Mortgage Survey released on October 6 showed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 3.42%. The 15-year fixed average rate was 2.72%. The 5/1 ARM average rate was 2.80%. I’d expect to see rates a little higher next week based on where we were at the end of the week.

October 7, 2016

Rodeo Realty’s Westlake Village agent Kathy Smiley gives tips to first-time homebuyers

“A Click Away Remotes”, an online shop for garage door openers, remotes, and other home improvement products, has a blog where they generally post tips, ideas, and DIY projects. This week, the company gave quick tips on “How to buy your first home in 2017”.

The website provided a guide for first-time homebuyers and also reached out to six top U.S. realtors for more tips. Kathy Smiley of Rodeo Realty Westlake Village was one agent featured on the blog.

“#1 thing to know before buying your first home is the actual condition of the home and how much money you can reasonably expect to spend to get it up to your standards,” said Smiley. “I help all my buyers, especially those buying their very first home, by referring them to inspectors and tradesmen who are reputable and give honest estimates on potential repairs and projects.”

In the Q & A, Smiley also provided tips for those looking for a real estate agent.

“Look for an agent who is active in your market area with both buyers and sellers,” said Smiley. “A well-rounded agent with experience on both sides of the fence will be better equipped in negotiating for you successfully. He or she will share with you what to expect from the seller regarding price, terms and concessions. Also, don’t necessarily choose the agent with the most recent sales. Many agents who have large teams in place will not be there to give you one-on-one attention. Often it’s better to choose an agent who does fewer sales but has experience and expertise in the marketplace. Not every agent feels the need to be a super-producer, but a good agent will be your super-hero!”

To read the entire article, click HERE.

October 4, 2016

Rodeo Realty's Beverly Hills agent Tregg Rustad fronts Los Angeles edition of Top Agent Magazine

The new Los Angeles issue of Top Agent Magazine is out this week with Rodeo Realty’s Tregg Rustad as the cover Realtor.

The Beverly Hills agent fronts the publication and is featured within, with stories about his very first sell, his real estate team, and his life.

“The most interesting part of Tregg Rustad’s work is putting the pieces of a real estate transaction together,” said Top Agent Magazine. Rustad’s attitude and expertise have earned him and his partner, Peter Maurice, a ranking as Rodeo Realty’s top team, states the article.

“Year after year, the Wall Street Journal and Real Trends rank them as one of the Top 12 real estate teams in the Greater Los Angeles area…and one of the Top 250 teams in America, out of 1.1. million Realtors® nationwide,” said Top Agent.

According to the feature, in the 15 years that Rustad and Maurice have been working together, they’ve closed 1,300 transactions, representing almost $1.3 billion.

Before becoming a real estate agent, Rustad worked in film production. He tells the magazine that he wanted something different, so he got his real estate license between movie productions and sold his first property to a writer on one of the shows.

“I started selling real estate at 22 years old with a network of zero,” Rustad tells Top Agent. “Part of the benefit of starting young as I did is that I was open-minded about who I worked with. No deal was too small. For example, I sold a one-bedroom condo to a client in 2002 and have done five transactions for him since, as well as six or seven for his friends and family. Word of mouth is the best way for me, because people come with trust.”

In the article, Rustad also talks about his real estate partner, Maurice—who was a studio lawyer for 10 years before he got into real estate.

“We built our practice with the same dedication to excellence and client satisfaction that you should expect from your attorney,” said Rustad.

During his spare time, Rustad tells the publication that he enjoys relaxing with his wife and daughter, and also loves to surf, hike, and go camping. He also likes to buy and remodel property—which he says gives him real world experience he can share with his clients.

The article closes off by stating that it’s important to Rustad to be efficient and professional from the first phone call to the close of the transaction.

“My first 10 years were about learning,” said Rustad. “Now halfway through my second 10, it’s about perfecting and expanding. My last 20 will be about having the business where I want it to be and enjoying the benefits.”

To read the entire feature on Tregg Rustad, click HERE.

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October 4, 2016

Rodeo Realty’s Woodland Hills agent Shane Nichols covers California edition of Top Agent Magazine

Featured this week in the California edition of Top Agent Magazine is Rodeo Realty’s Woodland Hills agent, Shane Nichols.

Nichols is covering the front of the magazine and is also highlighted throughout the publication.

In a 6-page spread, the premier real estate magazine gives an in-depth look at Nichols career and his success.

“With a natural ability to sell and a strong drive to achieve goals, Shane Nichols has set himself apart in the southern California Real Estate market,” said Top Agent Magazine.

The magazine mentions Nichols previous career in sales and how that led him to become a Realtor®.

“The year 2015 was his first full-time year in the business, and he was recognized at Rodeo’s yearly awards ceremony as one of the Top Producers of a company with 11 locations and over 1,200 agents,” said Top Agent. “That’s impressive.”

To demonstrate how the real estate agent goes above and beyond his client’s expectations the magazine also published two of Nichols’ Zillow reviews.

“…We interviewed 4 different agents, Shane was first,” said one recent seller. “After we had interviewed everyone, we came to the conclusion we definitely wanted Shane to sell our home.”

The review ended by saying, “When all is said and done, we couldn’t be happier with everything he did for us. We gained a great Realtor® and lifetime friend.”

The article closes off by stating that Nichols passion for the real estate industry stems from the people he gets to help.

“I’m in a service profession for a reason: I enjoy helping people,” said Nichols. “And finding them that home of their dreams is a pivotal part of what I do and why I enjoy it.”

To read the entire feature on Shane Nichols, click HERE.

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October 1, 2016

Economic update for the week ending September 30, 2016

Stocks have huge swings, yet end the week up slightly, and end the month down slightly – Despite large daily swings, stocks were pretty stable this month. The last two days were indicative of what we have seen with stocks down sharply Thursday only to be up sharply Friday. Higher oil prices helped stocks this week, and falling health and banking stocks hurt markets. The Dow Jones Industrial Average closed the week at 18,308.15 up from 18,261.45 last Friday. The Dow was down from 18,400.88 on August 31. The S&P 500 closed the week at 2,168.27, up from 2,164.69 last week. It was unchanged from 2,170.95 on August 31. The NASDAQ closed the week at 5,312.00, up from last week’s close of 5,305.75. The NASDAQ closed the month up from 5,213.22 on August 31.

U.S. Treasury Bond yields flat this week and just slightly higher for the month – The 10 year U.S. Treasury Bond yield closed the week at 1.60%, down from 1.62% last Friday. It was 1.58% on August 31. The 30-year U.S. Treasury Bond closed at 2.32%, down from 2.34% last week. It was 2.23% on August 31. Mortgage rates follow bond yields so we watch bond yields closely.

Mortgage rates unchanged this week – The Freddie Mac Primary Mortgage Survey released on September 29, 2016 showed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 3.43%. The 15-year fixed average rate was 2.72%. The 5/1 ARM average rate was 2.81%.

California Association of Realtors releases 2017 housing forecast – Key points in their report were: Prices would continue to increase, but at a more tempered rate. They feel prices will rise 4.3% in 2017, compared to a 6.2% increase in 2016. The median price will rise to $525,600 in 2017, up from $503,900 in 2016. The number of sales would be flat, up just 1.4% in 2017. That would equate to 413,000 units, up from 407,300 units forecasted in 2016. The 30 year fixed would rise slightly to 4% in 2017, up from an average of 3.6% in 2016.

September 29, 2016

Rodeo Realty's Beverly Hills agent Peter Maurice mentioned in The Hollywood Reporter

The Hollywood Reporter recently came out with an article, “Hollywood’s Newest Home Trend: Safe Rooms.”

According to THR, a glance at luxury real estate listings reveals that there’s an increasing demand for safe rooms—particularly high-end designs with luxurious interior design details and amenities.

Mentioned in the article is Rodeo Realty’s Beverly Hills Estates Director, Peter Maurice. A quote by him is emphasized in the story and used as a pull quote—attracting attention and drawing the reader into the piece.

“Safe rooms have become an important luxury ‘checklist’ item for high-end sales and more common request in the past five years,” said Maurice.

a-bathroom-mirror-doubles-as-a-door-to-a-walkin-closet-safe-room-embed — *Creative Home Engineering uses bookcases or mirrors as entries to converted home theaters, master suites or wine rooms.*

Many celebrities are said to have secret entries in their homes—A-listers from Lady Gaga to the Beckhams boast the feature. Mark Zuckerberg reportedly is building a stand-alone safe room inside his Palo Alto compound. L.A. Clippers’ DeAndre Jordan has one with thumbprint entry in the Pacific Palisades home he listed on the market this year. Sandra Bullock, Madonna, Jennifer Lopez and Selena Gomez also have a safe room.

With safety and security a persistent concern across the country, some builders of safe rooms are seeing a boom in sales.

Tom Gaffney, president of Gaffco Ballistics, tells THR that his company has installed safe rooms in New York and Los Angeles for celebrity residences that start at $250,000.

“Our clients tend to have a higher sense of the lack of security in the world today.”

According to THR, Nick Paster of American Saferoom Door Co., said home theaters, master suites and cigar and wine rooms are most preferred for safe-room conversions.

To read the THR article on safe rooms, click HERE.

The article is scheduled to be published in The Hollywood Reporter’s magazine and should appear in the next issue, which is expected to come out October 12.

September 28, 2016

Nadeau Los Angeles To Host Free Meet And Greet With Interior Designer Leslie Whitlock

Nadeau Los Angeles will be hosting a meet and greet with L.A. interior designer and home stager Leslie Whitlock on Saturday, October 1 from noon until 2 p.m.

Whitlock, who has worked with the likes of Calvin Klein, will be staging interiors for multiple rooms and discussing how to infuse environments with warmth, creativity and one’s personal style.

The meet and greet will include snacks, beverages, music and an informal Q&A session. Nadeau Los Angeles will also be raffling off more than $500 in furniture and accessories.

The event is free and open to the public. Bring your questions and get ready to learn some insider tips designers charge a fortune for!

To RSVP, click HERE.

Nadeau Los Angeles is located at 176 North La Brea Avenue, Los Angeles 90036

For more information on Whitlock, read this LA Times article HERE.

Also, visit his website HERE.

Information provided by Nadeau.

September 27, 2016

Rodeo Realty's Beverly Hills agent Roger Perry lists former home of Amber Rose

A home once occupied by model, author, and now TV talk show host Amber Rose is on the market for $5,099,000. Rodeo Realty’s Beverly Hills agent Roger Perry has the listing, which has been featured in Architectural Digest and Pursuitist.

Rose lived in the 9,300+ sq. ft. contemporary home for about a year before purchasing a house in Tarzana. The also feminist activist and fashion designer gave People magazine a tour of her pad during her stay there. During her at-home interview, Rose showed off her shoe closet, her son’s room and her massive theater room.

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Since moving out, the Los Angeles compound has been remodeled. The 6 bedroom, 7 bathroom property has an enormous living room that connects to an informal area and a dining room. The chef’s kitchen boasts European finishes, Caesarstone countertops, and all Miele appliances including a built-in fridge and a wine tower. The east wing of the home includes the theater room, two bedrooms, and a junior master suite that opens up to an outdoor patio area and connects to the gym. The vast master suite has an endless closet and dual, luxurious baths. On the west wing, there’s another bedroom with an en-suite bathroom, plus an office/lounge areas. The home also includes an attached one-bedroom guesthouse that has a bathroom, a kitchen and a living room. Other additional features of the home include a pool and spa, a private gazebo, 8 security cameras, and parking for 8 cars.

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Rose, 32, is best known for her high-profile romances with Kanye West and Whiz Khalifa, whom she married in July 2013 and divorced in 2014. “Muva Rose” as she’s known to her fans, also has a non-profit organization, the Amber Rose Foundation, which is dedicated to female empowerment and equality.

Currently, MUVA is the Executive Producer and host to her own VH1 show, The Amber Rose Show. She is also a cast member of Dancing with the Stars season 23.

The home is also available for lease at $25,000 a month. For more information on the property, click HERE.

To read the Architectural Digest article on this home, click HERE.
Pursuitist, HERE.

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