Forbes recently reported, China housing has undergone a major growth spurt in the last decade. Rich Chinese are buying up second homes as investments. And localLOCM +2.58% municipalities have been funding local builders to erect housing in order to create jobs. The problem is, Chinese urbanization trends have not sped up enough to account for the new high-rises, many of which are not fully sold. Unsold properties mean less money for developers who in turn have less revenue to pay off debts. For now, many municipal lenders have been either forgiving or rolling over those debts to extend the life of the loans. Like many economists elsewhere, the IMF says the trend is unsustainable.How important is real estate to the Chinese economy? In the year 2000, real estate accounted for around 5% of China’s GDP. By 2012 it rose three times to 15%, according to theIMF’s calculations. It certainly did not decline in 2013 and 2014, despite Beijing working overtime in forcing a market correction. The IMF did not have data for the last two years.
The real estate market appears to be undergoing a correction. While a slowing of investment and construction by as much as 10% would definitely reduce growth from 7.5% to 6.5%, an orderly adjustment is still factored into the IMF’s baseline scenario.
We love sharing letters we get from our agents praising our hardworking corporate team that puts forth their best efforts everyday to ensure the success of our agents. Our corporate staff are here everyday to help our agents with marketing, web design, advertising, public relations, printing, graphic design, and mailings to help our agents be successful.
No doubt I’m not the only agent you’ve heard from, but from everyone, thank you for continuing to be the classiest shop in town. The color 4-page brochure looks great!
So glad to be working here,
I can’t even begin to tell you how amazing and pleasant Glen is in the print shop. Thank you!!!
I would like to take this opportunity to say thank you to Syd for his training last week at the Skirball Center. I consider him the E.F Hutton of Real Estate. When my mentor speaks I listen and take notes. His class affirmed what I already knew but have not been doing. The simple and effective approach on how to launch your career and business hit home for me and took me back to the basics. As he said… “this is not rocket science.” Consistency is the key to master ones business and market place. If anyone that attended this class follows what he says to do, then they cannot fail. Thank you Syd Leibovitch, my commander and chief and mentor.
David Faller and his wife just had a seamless transaction and wanted to share his success with us!
“Dear Mr. Leibovitch,
I wanted to write to brag about the amazing experience we had working with both Kerry Gelbard and Jeanne Vachon in the Northridge office. Allison Gold (Rodeo Realty) recommended working with Kerry, and in turn Jeanne, and we’re so happy that we were able to close our jumbo loan in about 16 days with their tireless help and dedication!
Kerry took time to meet with my wife and I near our house to discuss a budget and the home-buying process. While Kerry was overseas on vacation, Jeanne handled our loan and we met twice at 6am (wow, she is at work at 5:30am every day!!!). I’ve never met someone who works more hours than Jeanne, she was the glue that kept our deal together. Once Kerry returned, the “Dream Team” was back together- we spoke daily, if not multiple times per day, and we were able to satisfy our Sellers with an extremely fast close on a jumbo loan.
End result, we love our house and we’re so grateful that we were able to move in so quickly and effortlessly. I’d highly recommend Kerry and Jeanne to any/all of my friends or family. I hope their work ethic and dedication is recognized within the company!
Residential Real Estate website Destination Luxury posted a Top 10 Modern Homes in Los Angeles – On and Off the Market article and SIX of the listings were run by Rodeo Realty agents! The homes range in price from $4.2M to $14M and are located all over the city. Many of the homes had one thing in common (besides the modern architecture) they all have AMAZING views.
#5 – Joe Babajian
#6 – Ben Bacal
#7 – Bruce Walker
#8 – Joe Babajian
#9 – Ben Bacal & Roger Perry
#10 – Joe Babajian & Stephen Walton
Check out more about the homes that made the list here or on Destination Luxury’s Instagram: @destinationluxury
First time home-buyers, Jason and Samantha, reached out to one of our agents, Lonnie Mintz, to recognize how helpful he was in their home-buying experience. Their letter reads as follows:
“My wife and I had been looking for a home in the San Fernando Valley for over one year. We spent time with many different realtors and made countless offers, none of which were accepted. That is until we met Lonnie Mintz. Lonnie was incredible. Within 3 months of working with Lonnie I am happy to say we are now home owners. I do not believe we could have got this house if not for Lonnie. He is aggressive, knowledgeable and really on top of everything. Lonnie will walk you though the process every step of the way. Lonnie makes sure you are fully informed of each step, which is extremely important, as we were first time home buyers. As I stated earlier we were working with many different realtors prior to meeting Lonnie. I can tell you from these experiences not many realtors,if any, work as hard as Lonnie. You can reach Lonnie, any time of day and if he misses your call, its only because he is with another client and he will call you back immediately. We have already recommended Lonnie to our friends and will definitely be using him for any future real estate transactions.
Jason and Samantha C.”
Lonnie followed up with, “This is why I became a Realtor and decided to work at Rodeo Realty. I really do help make people’s dreams of homeownership happen. There are few things more rewarding in this business than handing the keys to buyers for their first home once escrow closes! Not only do I have a really satisfied client, I have new lifelong friends!”
An honorable mention for Rodeo Realty’s marketing department. Debra Ziven, of the Beverly Hills office, personally took time to give thanks and praise to Glen Berg and Jeff Weston.
“Dear Glen and Jeff,
How are you? I hope you are half as ecstatic as the clients on [address redacted]. Your extraordinary execution of your jobs is greatly appreciated. As an agent, I am proud to carry a Rodeo Realty card and boisterously brag about the marketing department. The best part is that I’m 100% confident those claims will be backed up.
As the lucky one who gets to seeing the unabashed happiness on the clients’ faces and hear the excitement in their voices, I wanted to take a moment to let you know. You may feel that you’re just doing your jobs, but really, you’re making a tangible, positive difference in people’s lives. The marketing provides a sense of structure and helps the clients better envision the selling process and manage any inklings of trepidation. Thanks for all you do!
The following letter was sent by one of our agents giving thanks and praise to Westlake Village Office Manager Demetra Kalivas-Rees.
I wanted to commend Demetra for assisting me in my very difficult deal. She has been wonderful, available to me 24/7 and I do not think this deal would have closed without her assistance. She is an amazing Manager and wanted to let you know.
Thank you for such an amazing manager for the Westlake Village Office.
All the best,
Sometimes the work of our office managers can go unnoticed and it is always nice to be recognized. They work tirelessly to make sure everything functions smoothly and they can never be thanked enough. Thank you Fern for the feedback!