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Blending Show Business and the Business of Buying and Selling Homes

The entertainment industry and real estate seem to go hand-in-hand. Gossip about celebrities buying and selling multi-million dollar homes are staples of the L.A. Times, New York Times, Huffington Post and more.

But what about real estate agents who are also working in the entertainment business? Columnist Lauren Beale of the L.A. Times recently did an article on the subject, so I decided to look into whether or not we have “industry” folk working among us right here at Rodeo Realty.

The answer is yes we do, and this is the first in a series of blogs interviewing them. Some are actors, others musicians. Regardless, all of them say there are plenty of parallels between show business and the business of buying and selling homes.
“In my 21 years as an actor and more than 1,200 auditions, rejection means absolutely nothing to me,” said Carmen Mormino of the Westlake Village office. He has acted on “Days of Our Lives,” and “Grey’s Anatomy,” among other television shows. He has also appeared in movies such as “The Stepfather” and “One Hour Photo.”
Actors hear so many “No’s” that sometimes they start believing it, he said. But like in real estate you can’t let rejection get you down. You have to go right back out there and meet more people until something clicks and deals get done.
Actors also have to think outside of the box in order to land certain roles, said Mormino, who began his real estate career four years ago and was on Rodeo’s list of top producers for the month of October 2010.
You can’t just play a character as you think it should be played; you have to live it and be real, he said. You also have to be real in order for real estate clients to trust you. “Acting has given me the confidence to be myself,” said Mormino.

Real estate is also not just a side gig. He has a family and said that balancing acting and real estate is the best way to maintain consistent income. He enjoys the thrill of helping people buy and sell homes and is proud to call himself both an actor and real estate agent.

Every now and then, however, the two careers meet in strange ways, said Mormino. He recently met somebody at an open house who happened to be a well-known television director. There was a point of connection, because the director knew Mormino is also in the entertainment business.

A colleague’s sister is a huge “Days of Our Lives” fan. So when she found out about Mormino’s recurring role on the show, she called her sister right away. Mormino –knowing the value of good fan and client relations- set his colleague’s sister up with some much appreciated Days of Our Lives memorabilia.
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Rodeo Realty Secures Space for New Sunset Strip Office

Rodeo Realty is moving forward with plans to open a new office on the iconic Sunset Strip in West Hollywood.
The company recently leased an approximately 9,000 square foot office space at 9200 W. Sunset Blvd., Suite 200.
The zip code is 90069 and the office building is located at the intersection of Sunset and Cory Ave. Sotheby’s International and DBL Realtors used to occupy the same space.
Rodeo is currently building-out the office and plans to have it up and running by mid January. The branch will house approx. 100 agents and is the company’s second Westside location -the other being located in Beverly Hills.

Fred Henry, who joined Rodeo Realty to manage the new branch, said the Sunset location is in close proximity to the Beverly Hills office. It’s a fabulous building with great exposure and amenities. The location also gives agents easy access to Westside communities and clients in the entertainment industry.

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White Rock Island for Sale Near Catalina's Isthmus Cove

Bud Mauro and Susan Miller of Rodeo Realty’s Northridge office are listing agents for White Rock Island (aka Bird Rock), which is located approximately 1500 feet off of the mainland side of Catalina Island’s Isthmus Cove (Two Harbors).
The island consists of 1.3 acres that were acquired from the United States government in the late 1920’s. At one point there was talk about constructing a casino on the island, and then a yacht club. But none of those plans ever came to fruition. 
T.V. director Michael Caffey is the island’s current owner. He inherited it from his father, who was the first private owner in the 1920s. Caffey, 80 years old, worked on hit shows such as “The Mod Squad” (1968-71), “Barnaby Jones” (1973-80) and “MacGyver” (1989-91).

The property even recently appeared in L.A. Times Hot Properties section:
http://www.latimes.com/business/realestate/la-hm-hotprop-michael-caffey-20101210,0,4490957.story

Bird Rock has been used as the location for several movie settings and more recently as the subject of a TV production series hosted by Huell Howser, entitled “California’s Gold”, “A search for California’s rich history and natural wonders”. The waters surrounding the island are a marine paradise.

With proper building permits and approvals the Bird Rock may lend itself nicely to certain “easy on the environment” projects such as a yacht club, scuba dive school or other developments with water related activities. It’s under the jurisdiction of LA County.

The zoning is unclassified according to Los Angeles County planning. Due to the island’s proximity to other land masses, schools or other developments, the regular permit process of notifying property owners within a certain radius may not apply.

The nearest land is Catalina’s Two Harbors area, which is zoned MXD (Mixed – Use Development) and R–R (Resort & Recreational). For more information contact Bud Mauro or Susan Miller @ (818) 363.4997 or e-mail BudMauro1@aol.com or info@SusanMiller4Homes.com.

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Leslie Appleton-Young Gives California Market Update for 2011

Leslie Appleton-Young, chief economist for the California Association of Realtors, gave her 2011 California Market Update today (December 8th) at the ArcLight Cinema in Sherman Oaks. More than 150 Rodeo Realty agents and employees attended the event.
The short version of her presentation on what’s to come for the economy next year: “We’re kind of stuck and there’s not strong momemtum to make 2011 much different,” said Appleton-Young.
The economy is recovering, she said. But high unemployment is preventing the recovery from gaining momentum. Consumer confidence is bouncing along at a lackluster rate. Consumer spending remains quite low. And while inflation isn’t much of an issue today, it may be a bigger issue in the future.
Fixing California’s financial problems is also likely to involve more layoffs in the state.
There continues to be a disconnect between high-end list prices and sales prices, she said. Some high-end markets, such as Malibu and Beverly Hills, have supplies in excess of 10 months. Inventory is tighter in some of the lower-end markets.
Short sales are closing, but banks need to do more to speed up the process, said Appleton-Young. And distressed properties will continue to play a large roll in many markets. Agents need to understand what type of market they’re working in, either a distressed one or others. 

The median home price in California is forecast to increase 2 percent, according to Appleton-Young.

She encouraged agents to leverage technology in the coming year, and get involved in the issues. A few of her reading recommendations for 2011 include: “Crisis Economics” by Nouriel Roubini; “Delivering Happiness” by Tony Hsieh; “Switch” by Chip and Dan Heath; “Linchpin” by Seth Godin; and “What Would Google Do?” by Jeff Jarvis.
To see Appleton-Young’s slides from the presentation, visit the following link. Please be patient, because it takes about a minute for the presentation to open:
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Protecting the Mortgage Interest Deduction

If you haven’t seen it already, the National Association of Realtors has issued a Call for Action to protect the mortgage interest deduction. 

The California Association of Realtors web site says the President’s Deficit Reduction Commission has released preliminary recommendations to change how the country spends money and collects taxes. One of its provisions calls for dramatically limiting the mortgage interest deduction.

NAR has issued a Call-for-Action and is asking all REALTORS® to call their members of Congress and urge him or her to preserve the MID. As the housing market continues to recover from the worst financial crisis in recent history, any change that reduces the ability of the market to heal is misguided and must be rejected.

Please contact your member of Congress today. When you connect to NAR’s Action Center, enter your name, e-mail address, and your phone number. NAR’s phone system will immediately contact that phone number. You will hear some brief talking points and then be connected to your representative’s office. It’s a quick and easy call. Please make it today.

More info: http://www.realtoractioncenter.com/realtor-party/click-to-call-mid.html

Here’s a link to CAR’s web site: http://www.car.org/newsstand/news/midaction/

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Fannie Mae Survey Finds Americans Still Wary About Housing Market

Fannie Mae’s most recent nationwide housing survey found that Americans are less certain that the housing market has bottomed, and continue to be wary of buying a home, according to a press release. Some of the survey’s key findings include:

  • The number of Americans who think it’s a good time to buy a home dropped to 68 percent (down 2 percentage points since June). 85 percent think it is a bad time to sell a house.
  • Americans are cautiously optimistic about their personal finances, with an equal percentage (41 percent) expecting their situation to improve as those expecting their finances to remain the same.
  • Fewer Americans expect home prices to rise during the next year. Delinquent borrowers and outright Owners are more likely to expect home prices to decline, in contrast to Underwater borrowers and Renters who think prices will go up modestly.
  • Fewer Americans expect home mortgage interest rates to go up. While a plurality of Americans still expect rates to go up during the next year, Americans are more likely to expect the rates to remain flat, especially among Mortgage borrowers and Renters.
  • The perception that buying a home is a safe investment continues to decline among Americans, ranking second to putting money into a savings or money market account.

These results are surely no surprise to real estate agents. The fact is there are plenty of psychological and hardcore financial realities keeping many buyers and sellers from entering the market. So how do you, as realtors, counter these perceptions with FACTS that support the notion that now is a good time to buy or sell? Comment here or on the Facebook post.

Here are a few responses I’ve heard thus far:

  • Even though sellers will net less than they would have at the peak of the market, they can also buy at a significant discount.
  • Interest rates remain at historic lows. Rates for 30-year fixed rate mortgages are still less than 5 percent, and they will likely increase in coming years.
  • Houses in all categories ARE selling if priced and marketed right.
  • Cash buyers have a lot of leverage in the current housing market.
  • Sellers may have to wait a long time for home values and the market to rebound.
  • Now is a good time to make a long-term investment.

To read the full results of the Fannie Mae survey visit: http://www.fanniemae.com/newsreleases/2010/5237.jhtml?p=Media&s=News+Releases

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SRAR Chooses Bud Mauro as Realtor of the Year

Congratulations to Bud Mauro of Rodeo Realty’s Northridge office!
Mauro was chosen as the Southland Regional Association of Realtors’ 2010 Realtor of the Year.
He has been with Rodeo since 1991 and a California licensed real estate broker since 1974.
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Newly Constructed Green Home in Studio City

If you think that going “green” means you have to skimp on luxury, think again. Dan Elias of the Studio City office is listing a new construction green home in the coveted Colfax Meadows section of Studio City. Owners plan to obtain Leadership in Energy and Environmental Design (LEED) certification for the house.

The 3,561 square foot, 5 bedroom and 4-5 bath Hamptons Style traditional home was designed and built by HK Design & Development. It has an open center hall floor plan. The sustainable architecture, natural building and ecology also create a cost efficient and energy saving Green Home.
Here’s a break down of some of the house’s environmentally sustainable elements:
  • Over 90% of the original home was recycled during demolition
  • The landscaping is drought tolerant and equipped with a rain sensor drip irrigation system
  •  Energy and water efficiency systems
  • Crawl-space ventilation and raised Foundation with fly ash reinforced cement
  • Environmental and health safe materials
  • High efficiency HVAC and filter systems with balanced returns for maximum circulation
  • Dual-paned argon sealed windows
  • Premium seal insulation wraps the home within a double drywall exterior
  • FSC certified renewable materials
  • Bora Care termite treating
  • Energy Star lighting and appliances throughout
The house has hillside views that create an expansive and inviting feel. The backyard provides space for entertaining and poolside relaxation. The home also is coaxile and CAT5-E Centralized System wired & network ready. The property’s web site is http://11610chiquita.com/. List price is $1,925,000 million.
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Esperanza Butler Earns GRI Designation

Congratulations to Esperanza Butler of Rodeo Realty’s Woodland Hills office! She recently earned the California Association of REALTORS® nationally recognized Graduate REALTOR® Institute (GRI) designation.
The designation is one of the most recognized in the real estate industry, acccording to the California Association of REALTORS®. It is a 92-hour program that provides the tools and knowledge real estate professionals need to meet the 21st century.
The GRI program includes live lectures in the following areas: 64 hours of coursework related to Consumer Protection: 8 hours related to Consumer Service; and 20 hours of DRE mandated Agency, Ethics, Trust Fund, Fair Housing, and Risk Management credits.

Butler said she is a firm beleiver in providing a high level of customer service. Obtaining the GRI designation is symbolic of her commitment to clients and maintaining high professional standards. Butler can be reached at (818) 999-2030 or by email at esperanza@esperanzabutler.com.

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Mulholland Drive Home Once Owned By Ozzie and Harriet Nelson

Melissa Zee and Cathey Painter of Rodeo Realty’s Beverly Hills office recently closed on the sale of a property on iconic Mulholland Drive.

The 1,344 square foot, three bedroom, two bath home was built in 1954. The niece of one of the prior owners said it was once owned by actors Ozzie and Harriet Nelson.
Zee and Painter sold the house afer only one week on the market!
In fact the seller was so happy with the transaction that he gave Zee and Painter a 6 percent commission, even though they only worked as listing agents.
Zee focusses on residential real estate in the Hollywood Hills and surrounding areas. She is also a short sale specialist. She recently teamed with Painter to cover L.A.’s Westside. Both are especially knowledgeable of the Nichols Canyon area, because that’s the place they call home.
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