Category: Uncategorized

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Rodeo Realty opens Brentwood Office in September



RODEO REALTY EXPANDING ONCE AGAIN IN   
SOUTHERN CALIFORNIA

Firm is opening eleventh office located in Brentwood this September
(Beverly Hills, CA, August 24, 2012) As we continue to expand our footprints in Southern California, Rodeo Realty is proud to announce the opening of our eleventh office strategically located in Brentwood on prime San Vicente Blvd. with close proximity to serve Westwood, Malibu and Santa Monica beach communities.
Based in Beverly Hills, Rodeo Realty continues to dominate the California market as the #1 independent single-owned brokerage with the largest market share in southern California. “Becoming a real estate agent means owning your own business, and you have to invest in your business to make it grow,” said Leibovitch. “I try to lead by example and always show that Rodeo Realty is a leader in agent support.”
 Leibovitch is proud to be opening his new state-of-art Bentwood located at 11940 San Vicente Blvd occupying over 8,000 square feet, while joining the rest of real estate brokerages located on that boulevard.  Rodeo Realty is currently hiring over 100 agents to join the new Brentwood office.  “My company gives agents an edge, by providing them with the technology and marketing tools they need to succeed in this market,” said company founder and president, Syd Leibovitch. If you are interested in viewing our new prestigious office, please contact Syd Leibovitch at (310)471-2600.

Contact: Tara Tahbaz, Publicist, Rodeo Realty, 310-471-2600
Syd Leibovitch, President and Owner, Rodeo Realty, 310-724-7100 

Rodeo Realty, Inc. was founded in 1986 by president, Syd Leibovitch. Today it is one of the largest single-owned residential real estate company in California. It has 10 branch offices throughout the greater Los Angeles area, and more than 1000 agents. Affiliate companies include: Encore Escrow, L.A. Mortgage, Inc., and Progressive Title.
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Los Angeles Market Report August 2012

Provides local real estate market statistics for the Los Angeles area.

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Million-dollar-plus home sales surge in second quarter

Los Angeles Times reports that million-dollar-or-more home sales statewide surged in the second quarter to the highest level since the third quarter of 2007 as the economy and mortgage availability improved. 
The year-over-year increase was nearly double the gain for the overall California housing market, according to San Diego-based DataQuick. Higher prices pushed some homes into the million-dollar-plus category, said DataQuick president John Walsh.
The 7,763 homes sold at $1 million or more from April to June represented an 18.5% increase from the same period last year. It was the most sales in this price range for a quarter since 2007, when 10,946 closings were recorded.
The highest quarter number of sales for $1-million or up houses since DataQuick began tracking such data was the third quarter of 2005, when 15,898 homes changed hands.
President of Rodeo Realty, Syd Leibovitch, breaks down his mid-year market update and weights in on what he is currently seeing in the market place. As you know we have seen a tremendous uptick in the Real Estate market.  It seems like the start of an active Real Estate recovery. In the first half of the year we have seen prices rise about 15%. There have been multiple offers on a good percentage of sales. Rates are at historic lows. 
Buyers have returned to the marketplace and we are seeing a large percentage of move up buyers! At the same time we just have not seen enough listings to meet the demand which is forcing up prices more quickly than anyone could have expected. As prices rise I think that many people that didn’t feel they had enough equity to come up with a down payment on a new home now will.
 I expect you will all be seeing a rush of listings, but they will sell fast if they are priced right, as we have so much demand! You know what they say, “grow hay when the sun is shining”. Now is the time to really be consistent and prospect for those listings! They will also be buyers when they sell!”

LA Times Article. 
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Hot Sales in Beach Communities

 
Late spring and early summer months are  becoming the best time to list homes located in beach communities. With an increase in demand and influx of international buyers this time of year, buyers around the world are all looking to experience and taste the ultimate California summer lifestyle and surround themselves with some of the world’s most beautiful and pristine beaches. The many amenities and luxuries of the California lifestyle are drawing people around the world hoping to get a taste of Southern California luxury and lifestyle.  
The best ways a seller can make their home standout and attract more potential buyers all fall within the small details.  A manicured yard with bloosming California plants, fresh flowers dispersed throughout the house, clean window to draw in the light and  shades and curtains open to create a bigger illusion of volume and depth for any room. Favorable locations such as Marina del Rey, Playa del Rey, Venice and Santa Monica are some of the most sought after locations for international buyers looking to experience the California dream. With the increased demand for homes in beach communities, the selection can be very limited and competitive,  so remain patient and in time you will find your dream California style beach home. Searching for an agent who specializes in your desired area  is a very important factor in the success of your transaction and will greatly help you beat the competitive market in finding your ultimate dream home. 
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Renovations and Redevelopments of Hollywood/La Brea

 Check out the newest renderings for La Brea’s new shopping and living developments!

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Project #1. La Brea and Fountain
FORMERLY: Jons supermarket with a large parking lot.
FUTURE: Mixed-use project, with luxury apartments, underground parking, ground-floor retail, and pedestrian space.
Note: While many of us were saddened to part with Jons Marketplace, the area was uninviting for most transportation uses. Utilitarian parking, no landscaping, and a nondescript supermarket served few users who are without cars. The new project will make the intersection a welcoming site, with plenty of outdoor activities, and will bring the community closer together. According to the developer and City of West Hollywood, this project will be the largest mixed-use development in West Hollywood’s history.

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Project #2. La Brea and Lexington:
FORMERLY: Discover Green showroom/store – specialized in flooring materials (just a plain single-story shop).
FUTURE: Affordable housing project, featuring a modern building, with enhanced landscaping and sidewalks.

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Project #3. La Brea and Romaine:
FORMERLY: Abandoned industrial building, with ground-level art gallery (also abandoned).
FUTURE: Mixed-use commercial development, with ground-floor retail, improved landscaping, and pedestrian space.
Note: The abandoned building has been an eyesore for many years, especially in contrast with the upscale retail establishment across the street. Thankfully this ugly, albeit “historical”, building will be refurbished, modernized, and the surrounding area will be significantly enhanced.


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Project #4. La Brea and Santa Monica:
FORMERLY: Carl’s Jr fast-food restaurant with large surface parking lot.
FUTURE: Mixed-use project, with luxury apartments, underground parking, ground-floor retail, pedestrian space, and enhanced mass transit facilities.
Note: The former Carl’s Jr restaurant, especially the parking lot, has been a magnet for criminal activities including prostitution and drug dealing. Walking by was extremely unpleasant, to say the least. Seeing that blighted site demolished, to transform to an upscale mixed-use development, is certainly great news. The change will be quite dramatic, making the area safe and welcoming. City of West Hollywood envisions this project to be a true gateway to West Hollywood! It will also complement the existing Target / Best Buy retail complex from across the street.
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Project #5. La Brea and Willoughby (aka “La Brea Gateway”):
FORMERLY: Abandoned KCOP Studios.
FUTURE: Mixed-use project, with luxury apartments, underground parking, ground-floor retail, and pedestrian space.
Note: The old site of the former studios offered nothing more than a blighted corner, with dirty concrete sidewalks, homelessness, trash, and graffiti – all of which has created an unpleasant environment for years. Luckily, the new development will completely c
hange the area, making it safe and enjoyable.
All five developments provide an exciting transformation, even though ta small group of local homeowners expressed opposition. They will most certainly give a facelift to La Brea Avenue. The developments will have no negative impact on surrounding communities, but will rather improve the quality of life for all, including local homeowners, by making the area safer and more walkable. Redevelopment is also necessary since La Brea is only blocks away from the Hollywood & Highland complex, visited by tourists from all over the world.
I believe, mixed-use developments will provide not only a much better and safer environment in the Hollywood / West Hollywood area, but will also reduce car-dependence, thanks to the new housing and shopping that will be located within walking distance. This is also known as “Smart Growth” or “Sustainable Development”. Nearby transit hubs (metro stations and major bus stops) will provide easy access, greatly reducing the need to drive.
Slowly but surely, Los Angeles is starting to take shape. Neighborhood by neighborhood, region by region, blight and old warehouses are giving way to upscale developments. Of course, it will take many years, even decades, to upgrade the City of Angels to a world-class city. But gradually LA is transforming. I’m confident, in the near future more mixed-use projects will be built, making the City of Angels a great place to live, work, and visit!
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Carol Wolfe dishes on Bidding Wars in the Valley

Shortage of homes for sale in San Fernando Valley triggers bidding wars

 A shortage of houses for sale in the San Fernando Valley is triggering bidding wars, quick sales and an investor feeding frenzy, according to real estate agents.
With prices low after the market crash, more homeowners are reluctant to sell – and with banks still stinging from the foreclosure crisis, financing is harder to come by.
At the same time, the lower prices and rates are luring more buyers into the market. The result: Not nearly enough homes are on the market to satisfy the demands of a growing pool of homebuyers and investors, driving prices back up and limiting selection.

After 37 years as an agent, Carol Wolfe with Rodeo Realty in Encino, can’t recall seeing a market like this. She’s personally trying to buy a 1,126-square-foot three bedroom, one bath fixer upper in Lake Balboa listed for $245,000 to either flip or rent out.

The seller has 34 offers and on Tuesday instructed all the bidders to submit their last, best offers.
“All of the offers are cash. There are so many investors out there that it’s crazy,” she said. “I put my offer in at $310,000 and I probably won’t get it.” A few weeks ago she had a listing in the 4400 block of Azalia Drive in Tarzana priced under the market at $599,000 and held a broker’s open house – used to introduce other agents to the property – on a Friday morning. More than 200 people showed up and the property attracted multiple offers. It’s now in escrow for $715,000, she said. “That was crazy. The buyers will bid up the price if you price it right,” she said. That’s the market’s up side. The flip side is that listings are hard to come by. Wolfe is used to handling between 10 and 20 listings at a time. She currently has two because of the tight inventory. At the end of March there were just 1,875 houses and condos for sale in the San Fernando Valley, according to the Van Nuys-based Southland Regional Association of Realtors, a scant 2.8 month supply at the current sales pace.That’s the lowest since the start of the downturn in 2007. Inventory peaked at 7,730 properties in October 2007 and has been steadily falling since then. The record high inventory is 14,976 properties in July 1992 as the Valley’s aerospace sector was shrinking and the record low is 1,492 March 2004 as the market was hot and credit easy. The Realtors group started tracking the combined house and condo inventory in January 1986.

To read the whole article visit link below: http://www.dailynews.com/business/ci_20631926/shortage-homes-sale-san-fernando-valley-triggers-bidding

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