Media Relations

August 31, 2016

Rodeo Realty's Lori Goldsmith sponsoring Beverly Vista's movie night for parents and children

School is back in session and Beverly Vista Elementary School is kicking off this new school year with a free movie night.

The family event is being sponsored by Rodeo Realty Beverly Hills Realtor, Lori Goldsmith, who is part of the Executive Board of the PTA at Beverly Vista.

The Realtor has two children who attend Beverly Vista, Max (1st grade) and Sam (8th grade), and volunteered to sponsor the school’s first movie night of the year.

Parents and children are invited to bring their blankets and enjoy a night outdoors under the stars watching “The Peanuts Movie” on the school’s playground.

The event is scheduled for Saturday, September 10th at 7:30 p.m. Gates will open at 6 p.m. so children can play with their friends and enjoy pizza, popcorn, candy, and drinks that will be on sale. All proceeds will benefit Beverly Vista’s PTA.

Aside from actively chairing as 3rd VP Community Service for the PTA, Lori Goldsmith is one of the three co-chairs for the 8th grade graduation committee and additionally one of the room mothers for Max’s 1st grade class. Last year she dressed up as the school’s mascot “The BV Bulldog” to encourage school spirit, which landed her the position of “Spirit Chair.”

“Every Friday those little faces were beaming with School Spirit as the Bulldog hugged and high-fived the students,” said Lori Goldsmith. “I am happy to help our wonderful school, Beverly Vista and do whatever I can for this tremendous community. These kids are only young once, let’s leave a lasting impression and teach them community involvement.”

Event flyer:

August 30, 2016

Loft listed by Rodeo Realty's Sunset agent Nick Small featured in Curbed

A 1,054-square-foot loft inside the National Biscuit Company building has made news in Curbed for its historic features.

The unit, listed by Rodeo Realty Sunset agent Nick Small, offers 16-foot ceilings and maple wood floors that date back to 1925. According to Curbed, the lofts building is a Historic-Cultural Monument that is also listed on the National Register of Historic Places.

The fifth floor space has a massive wall of operable windows surrounded by cement and exposed brick interior elements. Additional features include a kitchen with stainless steel appliances, a large bath with double sinks, marble surfaces and Bosch washer & dryer.

The Biscuit Company Lofts building was reportedly constructed as a headquarters for the National Biscuit Company, or Nabisco. According to Curbed, the building has attracted many well-known tenants over its time such as actor Nicholas Cage, who sold his loft in 2012.

1850 Industrial Street Unit #515 is listed for $779,000.

For more information on this loft, click HERE.

To read the Curbed story on this listing, click HERE.

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August 27, 2016

Economic update for the week ending August 27, 2016

Stocks lower as investors grow cautious of higher rates – Hints of future interest rate increases by Federal Reserve committee members throughout the week, and an official statement Friday by Fed Chairperson, Janet Yellen that conditions have improved opening a path to higher rates investors were more cautious. Some late earnings reported this week by retailers, like The Gap were below expectations. This followed mostly positive corporate earnings reported earlier in the month. Oil prices also dropped this week after rising last week, and healthcare stocks slipped. Markets are still just below all-time highs. The Dow Jones Industrial Average closed the week at 18,395.40 down from 18,552.57 last Friday. The S&P 500 closed the week at 2,169.04, down from 2,183.87 last week. The NASDAQ closed the week at 5,218.92, down from last week’s close of 5,238.38.

Bond yields slightly higher – The 10 year U.S. Treasury bond yield closed the week at 1.62%, up from 1.58% last Friday. The 30-year U.S. Treasury bond closed at 2.29%, unchanged from 2.29% last week. Mortgage rates follow bond yields so we watch bond yields closely.

Mortgage rates unchanged – still near record lows – The Freddie Mac Primary Mortgage Survey released on August 25, 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 2.74%. The 5/1 ARM average rate was 2.75%.

Pending home sales rise in July – The California Association of Realtors announced that statewide pending home sales increased 3.5% in July over last July’s seasonally adjusted annualized rate. Month over month, July’s pending home sales were up 3% from June’s figures. After June and July’s increased rate of new signed real estate purchase contracts it is expected that closed existing sales will increase in the coming months as those homes close escrow. July’s closed sales were disappointing as low inventories caused closed sales to decline after hitting multi year high closed existing sales numbers in June.

Nationwide existing home sales slowed by low inventory levels – The National Association of Realtors reported that existing home sales slowed in July after hitting the highest levels in many years in June. July’s slowdown was attributed to extremely low inventories of single family existing homes, which include single family homes, town homes, condominiums, co-ops. Sales fell 3.2% from June’s figures and year over year close sales declined 1.6% from last July. Only the western states region had an increase in closed sales. While unsold inventory inched up 0.9% from June the number of existing homes for sale nationwide are still 5.8% below last July’s number. 32% of all sales were purchased by first time buyers, up from 28% one year ago. All-cash transactions accounted for 21% of all sales, down from 23% one year ago.

New home sales hit highest pace in nearly a decade – The Commerce Department reported that sales of new homes surged in July to the highest level since October 2007. July’s new home sales were up 12.4% from June and 31.3% from last July. That’s a number that stunned experts; however, the number of new homes being completed have risen significantly as home-builders are full production.

Have a great weekend!
Syd

August 26, 2016

Rodeo Realty’s Beverly Hills agent Ben Bacal talks about his video strategy to Inman News

Inman News’ latest speaker spotlight features Rodeo Realty’s Beverly Hills agent Ben Bacal.

Bacal spoke to Inman about his video strategy and why it’s made him successful.

“Sure, you can show your expertise and talent with a one-on-one conversation, but if you do it on video, you can reach hundreds if not thousands of clients all at once,” said Bacal to Inman.

Bacal tells Inman News that video is the one thing every luxury-marketing plan must have.

“Three-quarters of all internet traffic will be from video in 2017,” said Bacal.

According to Inman News, Bacal is known for spending upwards of $20,000 on video in the hopes that they will go viral and create a lasting impression—not only on potential buyers, but future sellers, too.

“You have to spend money to make money, like any other business, “ said Bacal.

Bacal tells Inman that he sees video as one of the most underutilized technology in the real estate world—which is why he founded his own video app, Roofshoot, which allows agents to easily shoot videos and capture content.

“Show you have that power and drive to succeed, and buyers and sellers will want to work with you,” Bacal tells Inman.

To read more on the Inman News article, click HERE.

August 26, 2016

Former NFL player Zac Diles joins Rodeo Realty

Former NFL linebacker Zac Diles is now tackling the real estate world with Rodeo Realty.

Since joining the company, Diles has been interviewed by The Real Deal and Realtor.com.

After 8 seasons with the NFL, Diles is now bringing some of his football core values to real estate: hard work, consistency, dedication, integrity, respect and communication. The football-player-turned-agent recently decided to continue his new position as a member of Rodeo Realty.

Diles was selected by the Houston Texans in the 7th round of the 2007 NFL Draft. After spending four years in Houston, Diles continued his football career and signed with the Tampa Bay Buccaneers (2011), and the Tennessee Titans (2012). The 8-year veteran linebacker ended his NFL career with the Cleveland Browns in 2015 and shortly after received his real estate license.

Although playing on a new field, Diles’ determination and hard-working core values have really helped him in the real estate world.

He recently helped sell a $4.3 million home to Cleveland Browns cornerback Joe Haden, a former teammate of his. Haden thanked Diles on Instagram for helping him and his wife find their dream home in Los Angeles.

With football season here, Diles also recently leased a home to a LA Rams football player. Currently, he is representing another former NFL player and helping him look for his next home purchase.

To read The Real Deal’s article on Diles, click HERE.

Zac Diles (54), next to Joe Haden (23) during his football career with the Cleveland Browns.

August 25, 2016

Rodeo Realty's Westlake Village agent Fern Rice in Ventura County Star for being three-time breast cancer survivor

Rodeo Realty agent Fern Rice was recently mentioned in the Ventura County Star for not only taking part in an event, but for also being a three-time breast cancer survivor.

The Westlake Village real estate agent was among 15 or so breast cancer survivors who participated in Cups of Courage, an event where survivors transform bras into works of art.

Rice spoke to the Ventura County Star about her battle with breast cancer, which began in 1998 on her right side. Ten years later, it was on her left side.

“And then two years later it came back on my left side and I had to have a mastectomy, so I’m a three-time survivor,” Rice told the VC Star.

“Cups of Courage: The Sisterhood of the Traveling Bras” gives breast cancer survivors an opportunity to tell their stories and showcase their work of art.

“What I hope to convey with my bra is that no matter what, we can still be feminine and fun,” said Rice.

The bras will be displayed during Paint the Town Pink, a fundraiser for the Cancer Support Community that’s scheduled from 6 – 8 p.m. October 4.

To read the Ventura County Start article, click HERE.

August 20, 2016

Economic update for the week ending August 20, 2016

Stocks flat for the week – The Dow Jones Industrial Average, S&P 500, and the NASDAQ reached all-time highs on Monday, before losing ground and ended the week almost unchanged. Oil strengthened which could help oil producing regions, and the dollar softened which could be good for exports if these trends continue. The Federal Reserve released its July meeting minutes on Wednesday, but there was little impact, as committee members gave no detail about when they plan to raise rates next. The committee left the door open for a September or December rate hike, but the minutes showed that members have mixed views on the employment and inflation trends, along with the impact Brexit will have, indicating that they will raise rates at a very slow pace. The Dow Jones Industrial Average closed the week at 18,552.57, down slightly from 18,576.47 last Friday. The S&P 500 closed the week at 2,183.87, almost unchanged from 2,184.05 last week. The NASDAQ closed the week at 5,238.38, almost unchanged from last week’s close of 5,232.90.

Bond yields slightly higher – The 10 year U.S. Treasury bond yield closed the week at 1.58%, up from 1.51% last Friday. The 30-year U.S. Treasury bond closed at 2.29%, up from 2.23% last week. Mortgage rates follow bond yields so we watch bond yields closely.

Mortgage rates remain near record lows – The Freddie Mac Primary Mortgage Survey released on August 18, 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 2.74%. The 5/1 ARM average rate was 2.76%

California employers add 36,400 new jobs in July – The Employment Development Department reported that California’s employers added 36,400 new jobs in July. Although this was considered solid job gains by experts, the unemployment rate actually rose from 5.4% in June to 5.5% in July, as more workers entered the job search.

Number of existing homes sold in July drops as tight inventory puts a squeeze on sales – The California Association of Realtors reported that the number of existing homes sold in California declined 4.1% from June’s sales pace and 5.1% from last July’s annualized rate as historically low inventory levels dragged down sales. The statewide median price in July was $509,830 which was down 1.8% from June and up 3.9% from July 2016. The unsold inventory index edged up from a 3.2 month supply in June to a 3.6 month supply in July.

Have a great weekend!
Syd

August 19, 2016

Home of legendary composer John Cacavas sold for $7.4 million; Rodeo Realty's Josh Flagg reps seller, Nikki Hochstein reps buyer

The longtime Beverly Hills home of legendary composer and conductor John Cacavas has sold for $7.4 million. Josh Flagg of Rodeo Realty Beverly Hills held the listing. Nikki Hochstein of Rodeo Realty Brentwood represented the buyer.

According to Los Angeles Times, the 1950s home was also once owned by actor and engineer Zeppo Marx, who shared the residence with his second wife, Barbara. The couple divorced in 1973, Barbara later married Frank Sinatra.

The 5,069-square-foot house has an open living and dining room, a den/office, six bedrooms and seven bathrooms. The Midcentury home also has a screening room with a partition that opens to an outdoor wet bar.

Cacavas, who passed in 2014 at age 83, purchased the home in the early 1970s for $255,000, according to the LA Times. His television and film credits include “Kojak,””The Bionic Woman” Hawaii Five-O,” and “The Executioner’s Song.”

For more on this property, read the LA Times article HERE.

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August 17, 2016

Rodeo Realty's Beverly Hills agent Joe Babajian lists longtime home of late singer Natalie Cole

The luxurious Los Angeles condominium of the late singer-songwriter Natalie Cole has come up for sale for $2.995 million.

Rodeo Realty’s Joe Babajian is one of the listing agents to the 10th-floor double unit located in The Grand Westwood.

Since coming on the market, the listing has made news in Variety and Los Angeles Times.

The condo measures almost 3,600 square feet and has four bedroom and four bathrooms. The interior space with marble floors and beige walls, includes a living, dining and family rooms and a renovated kitchen with custom cabinetry and a wet bar. The master suite has dual bathrooms, an office/den, a walk-in dressing room, and a private terrace.

The nine-time Grammy winner, who passed away last year at age 65, reportedly purchased the home in 2003.

To read Variety’s article on the listing, click HERE.
Los Angeles Times story, HERE.

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August 13, 2016

Economic update for the week ending August 13, 2016

Stocks up slightly this week – The DOW, S&P, and NASDAQ hit record highs again on Thursday, as investors responded to higher oil prices, and strong second quarter earnings from several large retailers. With almost all companies in the S&P 500 reporting, 69% beat analysts’ earnings estimates. Unfortunately, Friday after a disappointing retail sales report, and a drop in the producer price index stocks dropped as investors digested that spending stalled in July, despite two months of very strong job growth. The Dow Jones Industrial Average closed the week at 18,576.47, up slightly from 18,543.53 last Friday. The S&P 500 closed the week at 2,184.05, up slightly from 2,182.87 last week. The NASDAQ closed the week at 5,232.90, up from last week’s close of 5,221.12.

Bond yields drop – Weak July retail sales data, and falling producer prices caused bond yields to drop. It is widely felt that with inflation below the Fed’s target rate, and spending softening the Fed will not be raising its key interest rates. The 10 year U.S. Treasury bond yield closed the week at 1.51%, down from 1.59% last Friday. The 30-year U.S. Treasury bond closed at 2.23%, down from 2.32% last week. Mortgage rates follow bond yields so we watch bond yields closely.

Mortgage rates remain near record lows – The Freddie Mac Primary Mortgage Survey released on August 11, 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 3.45%. The 15-year fixed average rate was 2.77%. The 5/1 ARM average rate was 2.74%.

Retail sales unchanged from June – The Commerce Department reported that retail sales in July showed no increase over June’s figure which increased 0.8% from May. Still retail sales rose 2.3% from a year ago, but economists had expected sales to rise 0.4% in July. After two months of very strong job growth experts were not expecting spending to weaken.

Producer Price Index takes unexpected drop – The Labor Department reported that the producer price index, a key measure of inflation dropped 0.4% last month. Year over year the index shows that producer prices have slipped 0.2% since last July. Fed officials have repeatedly expressed concern about low inflation, as a strong dollar and low oil prices have muted prices.