Economic update for the week ending February 3, 2018

200,000 new jobs created in January – wages rise at highest pace since 2009 – The Bureau of Labor Statistics reported that U.S. employers added 200,000 new jobs in January. That beat experts expectations of 180,000. The unemployment rate held steady at 4.1%. Wages were the highlight of the report, as average hourly wages rose 2.9% compared to one year ago. It was the largest year-over-year increase since 2009. December 2017’s average hourly rate was 2.6% higher than last December, so a 2.9% increase took experts by surprise.
 
Stocks posted their worst week since January 2016 – After four straight weeks of gains, stocks gave up much of those gains for the year in the first weekly drop for U.S. indexes in 2018. Most of the concern this week centered around the prospects of higher interest rates, which increase borrowing costs for corporations. Key developments were: The administration has begun to institute some tariffs on some goods imported to help U.S. manufacturers. So far it’s mainly solar panels and washing machines, but analysts feel there will be more products added. This was very positive for U.S. companies that make solar panels and washing machines, but is expected to increase the cost of those items to consumers.  As more items get added that increases costs of those items, which increases the prospect of higher inflation. Higher inflation leads to higher interest rates.  Later in the week Jay Powell, who was confirmed last week as the next Chairman of the Federal Reserve, who is replacing Janet Yellen, made comments which seemed to signal that he will be more hawkish on increasing short term interest rates. Finally, on Friday the January jobs report suggested that wages were beginning to rise at a more healthy rate. That will give people more spending power and also increases the risk of inflation, which will put even more pressure on The Fed to raise rates.  The Dow Jones Industrial Average closed the week at 25,520.96, down from last week’s close of 26,616.71.  After dropping 4.1% this week, it’s still up 3.2% year-to-date. The S&P 500 closed the week at 2,762.13, down from 2,872.77 last week.  It lost 3.9% this week, but it’s still up 3.3% year to date. The NASDAQ closed at 7,240.95, down from 7,507.77 last week. It dropped 3.5% this week, but it is still up 4.9% year-to-date.

Treasury Bond Yields
 –  Bonds reacted negatively to the wage increase in the jobs report on Friday and rates surged for the day, as higher wages lead to higher inflation. It’s possible bond yields will settle a little lower as the numbers digest. Obviously, future months year over wage comparisons will determine if January’s increase is a trend or was just an outlier.  The February jobs report will now be highly anticipated by bond investors.  The 10-year treasury bond closed the week yielding 2.84%, up sharply from 2.66% last week. The 10-year reached the highest level since 2014.  The 30-year treasury bond yield ended the week at 3.08%, up from 2.91% last week. We watch bond rates because mortgage rates follow bond rates.
Mortgage  rates higher this week –  Although rates are at the highest level in one year, they are still near historic lows. The February 1, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.22%, up from last week’s 4.15%. The 15-year fixed was 3.68%, up from 3.62% last week. The 5-year ARM was 3.53%, up from 3.52% last week. Rates were even higher on Friday, so I’d expect them to be slightly higher again next week. This was after the jobs report showed that wages rose 2.9%, year-over-year in January, the fastest pace since 2009. Although it’s healthy for wages to rise they have been very stubborn for several years. While this was good news for the economy, it raises the prospect of inflation which has been very tame. Higher inflation causes interest rates to rise.
Have a great weekend,
Syd

Tickets for the ‘Saved by the Bell’ Diner Pop-up Now on Sale

If you’ve been anxiously awaiting more news about the local outpost of Saved by the Max — the Saved by the Bell-inspired pop-up diner that held Chicagoans in thrall for an entire year — you’re in luck. The official Los Angeles opening date of May 1 has finally been announced, and tickets went on sale Friday, February 2 at 9 a.m.

Though Saved by the Max will look like the sitcom’s The Max diner, with its neon decor, jukebox, and vintage video games, there’s more to this eatery than mere ‘90s nostalgia. Its chef-driven menu was created by Brian Fisher, who helmed the kitchen at Michelin-starred restaurant Schwa in Chicago’s Wicker Park.

As in Chi-town, the menu here will offer dishes like the Kelly Kapowski Monte Cristo, A.C. Sliders, the Bayside Burger, the Preppy BLT and Mac & Screech.

As we told you last fall, Saved by the Max will be located at the West Hollywood Gateway shopping center at La Brea Avenue and Santa Monica Boulevard. “First semester” will run through early October, with plans for the pop-up to eventually make its way around the country.

Each tickets includes admission and dinner. As Saved by the Max was a smash success in Chicago, reservations are highly encouraged. Walk-ups will be limited.

Article by We Like LA. 

Fun Things to do This February in Los Angeles

Need stuff to do this month in Los Angeles?

We looked ahead on our calendar to focus in on some of the best events happening in February around Los Angeles that you should probably have on your radar. After all, better to get your tickets now than wait till the last minute and find out your favorite event is sold out.

February 2018 event highlights include CoffeeCon, the 119th Golden Dragon Parade in Chinatown, a Cupid’s Undies Run, the Queen Mary’s ScotsFestival, Palm Springs Modernism Week, the Los Angeles Travel & Adventure Show, and more!

1. First Fridays at Natural History Museum (Feb. 2)

Visit the Natural History Museum on February 2 for First Fridays. This event explores L.A. inventiveness, capped with live music from two local legends: John Doe and Exene of the iconic band X! -> More information

2. Smorgasburg Dumpling Day at Santa Anita Park (Feb. 3)

Indulge in an afternoon of dumplings, beer and horse racing at Smorgasburg Dumpling Day at Santa Anita Park on February 3. -> More information

3. Boomtown Brewery’s 3rd Anniversary Party in DTLA (Feb. 3)

DTLA’s Boomtown Brewery celebrates its three-year anniversary with a free party on February 3! Savor a brand-new Anniversary Beer, get a t-shirt printed — a rare, one-of-a-kind anniversary tee! — visit the photo booth, watch burlesque & more. -> More information

4. CoffeCon LA 2018 (Feb. 3-4)

Whether you enjoy it black, with cream, iced or hot, this is the conference for any & all coffee-lovers. Enjoy two-days of coffee tastings & classes! -> More information – Discount tickets

5. Pop-Up Magazine’s “Winter Issue” at the Theatre at Ace Hotel (Feb. 5)

Stop by Pop-Up Magazine’s Winter Issue at the Ace Hotel for a live magazine-style variety show for comedic genius and real-life storytelling. -> More information

6. Pan African Film & Arts Festival (Feb. 8-19)

The Pan African Film Festival (PAFF) returns to Los Angeles February 8-19. Now in its 26th year, the 12-day festival will showcase over 100 new films and the talented artists who created them. -> More information

7. Cupid’s Undie Run at The Victorian in Santa Monica (Feb. 10)

Cupid’s Undie Run returns to The Victorian Santa Monica on February 10 for a “brief” run for a great cause. The event starts at the Victorian in Santa Monica, where you party, run roughly a mile, then party some more. -> More information

8. One Love Cali Reggae Fest 2018 at The Queen Mary (Feb. 10-11)

The One Love Cali Reggae Fest returns to the Queen Mary in Long Beach February 10-11 for an entire weekend of dancing to your favorite reggae music on Los Angeles’ historic cruise ship. See Nas, Ben Harper & the Innocent Criminals, Matisyahu, Yellowman & more. -> More information

9. 9th Annual Edwardian Ball at the Globe Theatre in DTLA (Feb. 9-10)

The 9th Annual Edwardian Ball & World’s Faire comes to the Globe Theater in LA February 9, while February 10 marks the debut of Los Angeles’ first-ever Edwardian World’s Faire. -> More information

10. Positive Vibes: FREE Silent Disco YOGA at FIGat7th (Feb. 10)

Visit FIGat7th on February 10 for Positive Vibes, a free, epic, all-day outdoor party! Enjoy silent disco yoga, sound bath sessions, tarot card readings, Dublab music, vegan food & much more. Attendees can also enjoy temporary tattoos, body painting, DJ sets and a live band curated by Dublab, arts and crafts, vegan food and drink options, a beer garden and lounge area by Spaceland. -> More information

11. FREE Mardi Gras Concert at Historic Union Station (Feb. 13)

Be a part of the Second Line Tradition by attending this FREE Mardi Gras Concert by the Mudbug Brass Band at historic Union Station in Downtown Los Angeles! -> More information

12. Lucha VaVOOM Two-Night Valentine’s Spectacle at The Mayan Theater (Feb. 14-15)

Everyone’s favorite collision of Mexican masked wrestling, burlesque and comedy returns for Valentine’s Day with a two-night spectacle at Downtown Los Angeles’ Mayan Theater February 14-15. -> More information

13. Palm Springs Modernism Week (Feb. 15-25)

Palm Springs Modernism Week returns February 15-25 to celebrate all things midcentury modern including architecture, art, interior landscape design and vintage culture. -> More information

14. Chocolate & Art Show Los Angeles 2018 (Feb. 16)

The Chocolate & Art Show Los Angeles returns to The Vortex in DTLA on February 16-17, with chocolate fondue, the work of up-and-coming artists & more. -> More information

15. Lunar New Year at Santa Monica Place (Feb. 17)

Celebrate the Year of the Dog during Lunar New Year at Santa Monica Place on February 17. Enjoy Asian-themed stilt walkers, traditional Korean fan dancers, Chinese music, The Voice’s Katherine Ho as emcee & more. -> More information

16. The 119th Golden Dragon Parade & Chinese New Year Festival in Chinatown (Feb. 17)

The 119th Golden Dragon Parade and Chinese New Year Festival returns to Los Angeles’ Chinatown on February 17, with floats, marching bands, entertainers, a culinary stage, artisans & much more. -> More information

17. Long Beach Comic Expo (Feb. 17-18)

Long Beach Comic Expo, a celebration of comic books and pop culture, returns to Long Beach Convention Center on February 17-18. -> More information – Discount tickets

18. Queen Mary’s ScotsFestival & International Highland Games XXV (Feb. 17-18)

Queen Mary’s ScotsFestival & International Highland Games XXV returns February 17-18 to celebrate 25 years of the annual event with an array of authentic Scottish activities, athletics, dancing, entertainment, drinks and cuisine. -> More information

19. Lessons from Leaders of the Civil Rights Movement at The Skirball (Feb. 22)

Passing the Torch — From Selma to Today: Lessons from Leaders of the Civil Rights Movement is a panel discussion with four fascinating thought leaders taking place at The Skirball on February 22. -> More information – Discount tickets

20.Venice Arts’ Annual Speakeasy at the Townhouse in Venice (Feb. 24)

Celebrate like it’s 1928 during Venice Arts’ Annual Speakeasy at the Townhouse in Venice on February 24! This unforgettable party will take place in the Prohibition-era Speakeasy located below the Townhouse, which dates back to 1915. -> More information

21. 2018 Los Angeles Travel & Adventure Show (Feb. 24-25)

Meet travel celebs like PBS’ Rick Steves, Samantha Brown, learn how to pack well and decide where to go for your next trip at the Los Angeles Travel & Adventure Show at the Los Angeles Convention Center on February 24-25. -> More information – Discount tickets

22. L.A. Chinatown Firecracker 5k & 10k (Feb. 24-25)

Stop by the Firecracker Festival in Los Angeles’ Chinatown for two days filled with friendly-competition, carnival games, food trucks & more! -> More information

23. KPCC in Person Presents Airtalk’s FilmWeek: 2018 Oscar Preview at the Ace Hotel (Feb. 25)

On February 25, Larry Mantle and the film critics of KPCC’s AirTalk convene on the stage of the historic Theatre at the Ace Hotel in Downtown Los Angeles to discuss and debate this year’s Oscar nominees for a special taping in front of a live audience. -> More information

Story courtesy of We Like LA. 

Rodeo Realty’s Calabasas agent Randi Feilich serving as Humane Society United States District Leader Volunteer

Congratulations to Rodeo Realty’s Calabasas agent Randi Feilich for becoming a leader for animal protection in her community!

Randi will serve as Humane Society United States District Leader Volunteer for California’s 33rd Congressional District.

Her newest position was announced in the Calabasas Enterprise newspaper.

“In her new role, Randi will advance HSUS’ federal and state animal protection legislative priorities, including working on the November ballot initiative “Prevent Cruelty California”,” said the Calabasas Enterprise.

Randi’s commitment will advance compassionate and powerful efforts on behalf of all animals.

Weekend Events: February 2 – 4

Los Angeles provides no limit of things to do, some awesome and some not so awesome.

Since time is precious in this fast paced city we curate a list of things to do in Los Angeles for everyweekend that’ll help you decide how you want to spend your limited supply of attention (not to mention dollars!).

This weekend in L.A. (February 2-4) includes First Fridays at NHM, CoffeeCon, Smorgasburg Dumpling Day, Boomtown Brewery Anniversary Party, The Great Rock and Roll Flea Market and MUCH more.

Enjoy!

 Friday February 2nd, 2018

1. First Fridays return to the Natural History Museum this Friday. The event will explore L.A. inventiveness, capped with live music from two local legends: John Doe and Exene of the iconic band X.

2GIRLSCHOOL is a three-day music and ideas festival that includes panels and workshops with female leaders, speakers, educators, activists, and more happening at The Bootleg Theater.

3. There’s a MCA Tribute at The Egyptian on Friday. The program will screen music video sequel “Fight for Your Right Revisited,” Beastie Boys concert film AWESOME; I F@#KIN’ SHOT THAT and a discussion following the short with Mike D and Ad-Rock of the Beastie Boys.

4. Take an afternoon yoga class in beautiful Grand Park. The 45 minute workout is complimentary to the public every. After yoga, checkout the many food trucks lining the park and grab lunch al fresco style.

5. The Griffith Observatory hosts a monthly forum where some of the most amazing phenomena in the known universe are explained and discussed. It’s called All Space Considered and it takes place on the first Friday of every month. FREE

6. Since its the first Friday of the month check out all the cool events happening around town including block parties and art walks for First Fridays.

7. Take a Downtown Los Angeles foodie walking tour and savor what the bustling neighborhood has to offer. The tour is three hours long, participants will stop at six popular spots to eat and the tour guide will take folks through the history of DTLA. Happening Friday and Saturday. DISCOUNTED (via Goldstar)

8. In celebration of the Metro Red Line’s 25th birthday this year, they’ve partnered with filmmaker Hervé Cohen to present “Life Underground,” an immersive art media installation and interactive web documentary on view at Los Angeles Union Station from January 30 to February 5. FREE

9. Rockwell: Table & Stage presents the Unauthorized Musical Parody of Jurassic Park. Happening all weekend. (DISCOUNTED) via Goldstar

10. Greenbar Distillery opens up their facility for a tour of their organic distillery. The tour is one hour long and guests will have a chance to learn about the process of spirit making and taste some of the Greenbar portfolio.

11. Free admission at: Norton Simon Museum (5 to 8 p.m.), Pasadena Museum of California Art (noon to 5 p.m.) and Long Beach Museum of Art.

Saturday February 3rd, 2018

12. CoffeeCon happening at The Reef in DTLA February 3-4 features a tasting floor, top coffee experts, tasting seminars and even hands-on brewing labs. Some of the classes from CoffeeCon 2017 included Intro to Grinding, Advanced Espresso, Latte Art, Turkish Coffee and more. Check for discounted tickets up to 50% off on Goldstar before making your purchase.

13. Boomtown Brewery will celebrate their three-year anniversary with a free 14-hour party. Stop by beginning at noon and enjoy a brand-new Anniversary Beer, a White Imperial brewed with rose petals and raspberries, plus T-shirt screen printing, a photo booth and food vendors serving food all day.

14. Wild Party: A Jazz Age Immersive Experience comes to The Masonic Center of Santa Monica this Saturday for an immersive experience in the spirit of 1926. Performances will take place in multiple locations throughout the venue and period attire is encouraged, but not required.

15. Smorgasburg Dumpling Day at Santa Anita Park will introduce the most interesting new dumplings in So Cal, from the likes of Workaholic, Brothecary, and more. Tickets cost $30 a person.

16. In honor of Black History Month, Witness: The John Edgar Wideman Experience is coming to Forest Lawn Hollywood Hills for a free performance of stories by one of the America’s premier fiction writers that examine the African-American experience with the aid of hip hop and other music. FREE

17. SteelCraft Long Beach will celebrate their one-year anniversary this Saturday with Taste of SteelCraft a mini food festival with live music, a kids’ movie screening at sunset, raffle and more.

18. The Groundlings Theatre presents their latest main stage show, Sweet Valley Groundlingsperforming this Friday. (DISCOUNTED) via Goldstar

19. BLVD Kitchen in Sherman Oaks will host a little pre-Valentine’s Day celebration where you can meet the BLVD Sweets Artisans, taste some treats and decorate some cookies. The event is free to attend and open to all ages.

20. “The Female Gaze” is dubbed as a super-sized parody of The View featuring over a dozen diverse co-hosts all with something to say. Performing at UBCT Sunset.

21. The Petersen Automotive Museum presents 50 of the most iconic Porsche sport cars of all time during “The Porsche Effect” on display in the Mullin Grand Salon.

22. FreeFrom will host the Made by a Survivor Valentine’s Day Market this Saturday at Mandala Yoga Center in Santa Monica. Browse and purchase handcrafted gifts made by previous survivors of domestic violence. 100% of proceeds will go directly to survivor-entrepreneurs and their businesses.

Sunday February 4th, 2018

23. Looking for a place to watch the big game? Checkout our round up of Where to Watch the Super Bowl in Los Angeles .

24. Vegan Street Fair, Eat Drink Vegan, and Smorgasburg LA join forces to bring you the first annual Super Vegan Sunday. Smorgasburg will transform into a vegan food haven with vendors offering special tons of vegan options

25. Marfa Book Co. the independent bookstore, publisher, and project space in Marfa, Texas will open its first experimental pop-up at the Institute of Contemporary Art, Los Angeles this Sunday.

26. The Great Rock and Roll Flea Market will take over The Regent Theater in DTLA with an impressive selection of vintage collectors, antiquities dealers, vintage clothing, jewelry makers, music memorabilia, vinyl, local food vendors, food trucks, craftsmen and used musical instruments dealers. FREE

27. Gilbert and Sullivan’s Pirates of Penzance transforms the Pasadena Playhouse into a playground mixing actors and audience as reimagined by the Chicago theatre hooligans The Hypocrites now playing through February 25. Check for discounted tickets before making your purchase. DISCOUNTED (via Goldstar)

28. The Hammer presents a family friendly screening of Bugsy Malone. Recommended for ages eight and up, the film is a reimagination of a gangster movie set in the Prohibition-era of Chicago made into a toe-tapping musical with an adorable all-kid cast staring Jodie Foster and Scott Bai. FREE

Schedule provided by We Like LA.

Rodeo Realty’s Beverly Hills agent Barbra Stover featured on VoyageLA

Featured on VoyageLA this month is Rodeo Realty’s Barbra Stover. In the feature article, the Beverly Hills agent spoke about her life and her journey so far.

“My life has been a blessing in many ways. I almost died 20 years ago with alcohol poising, abusive relationships, and I was spiraling downhill pretty quick, buried in the LA / Hollywood Scene,” said Barbra to VoyageLA. “Then, 16 years ago, I picked myself up from my bootstraps, and met my amazing husband at that time, and started an amazing career in real estate. I finally learned what my desires and wants were. I wanted to help people find their dream home and also help families get through the selling process. My business grew tremendously which spilled into a plethora of awards with Rodeo Realty. I now have an incredible office over-looking the Montage in Beverly Hills. I closed 3 fantastic deals on New Year’s Eve. I love what I do. I can now say that I have been sober for 17 years and loving my life as a top producer with Rodeo Realty, and happily married for 16 years.”

Barbra also spoke about her struggles along the way.

“The challenges that I had was dealing with demanding high profile clients. There were times when I wanted to quit; however, believe it or not, I have learned how to be stronger on each deal,” said Barbra.

She also talked about Rodeo Realty.

“I am under Rodeo Realty and my LLC as Stover Estates,” said Barbra. “I specialize in high-end residential real estate all over the beach areas to Beverly Hills / westside areas. My main focus is Marina del Rey, Playa del Rey, Playa Vista and Venice. Silicon Beach area! I am proud of Rodeo Realty. Syd Leibovitch is an amazing leader and owner of the company.”

If she could go back and start over, Barbra tells VoyageLA that she would have started real estate when she was 18-years-old.

To read the entire feature article on Barbra Stover, click HERE.

VoyageLA focuses on highlighting the best of LA. The publication features interviews with some of the most inspiring professionals, entrepreneurs and independent businesses in Southern California.

Where To Watch The Super Bowl In Los Angeles

This weekend it’s all about the big game. While the Philadelphia Eagles go up against the New England Patriots, thousands of Angelenos will be digging into 50-cent wings, bottomless beers and $2 shots. So where will you be? Check out our top picks on where to watch, eat, drink and play on Super Bowl Sunday.

DTLA’s Brack Shop Tavern will open its doors at 1 p.m. and offer 50 cent wings and $15 pitchers (60oz) of Budweiser and Goose Island IPA. Kickoff is at 3:30 p.m. and deals will last until the end of the game.

Baldoria located in Little Tokyo will be showing the game and offering happy hour throughout the entire game. Happy hour includes $8 pizzas and 20% off all beer, liquor, and wine. $2 shots will also be offered during every touchdown.

Mohawk Bend located in the heart of Echo Park, will host a Vegan Tailgate Party from 2 p.m. to 7 p.m. with special game day offerings like the ‘Vegan Tailgate Platter’  from 2 p.m. until halftime, featuring vegan versions of sausage, pulled pork sliders, beef jerky and fried chicken paired with Anchor Lager for $23. In addition, Bowl of Wings will start at 3 p.m. serving real chicken wings with three different sauce choices for $12.

Ayara Lūk will host their popular Game Day Viewing party that will have football fanatics stuffed with bottomless Singha beer and AYCE Thai eats like Pad Thai, Chicken Satay and Spicy Tahi “Lobstah Roll.” There will be a 100 inch screen playing the game and tickets cost $60 in advance, $75 at the door and kids under 5 are free.

Chicas Tacos will team up with Boomtown Brewery in DTLA for a Big Game Fiesta from noon to 10 p.m. Guests can purchase eats by Chef Eduardo Ruiz while they watch the game on two 16-foot projection screen at Boomtown Brewery who will serve cool brews and wines all day.

Laurel Tavern in Hermosa Beach will play the Super Bowl on an extra-large projector and offer food and drink specials like $20 Corona buckets, $4 draft lager, $1 Smoked Louisiana Wings, and 2 for $4 sliders.

Recently re-opened Brennan’s in Marina Del Rey will host a Super Bowl House Party with food specials like Buffalo cauliflower $9, Buffalo Chicken pizza $15, Vegan Chili fries $9, Soft Pretzel with Beer Cheese $6 and $5 canned beer all day.

The Standing Room is hosting a Football Tailgate Party with a $45 all-you-can-drink and $6 off-menu food specials. The AYCE drink deal includes domestic, draft, wells, and house red or white wine. Food specials include Chicken Wings (Korean or Hot), Pork Rib Wings with Knob Creek BBQ Sauce, and Chili Cheese Hot Dogs, all of which are not on their daily menu. The deal starts at 1 p.m. and ends when the game is done.

Article courtesy of We Like LA.

Economic update for the week ending January 27, 2018

Stocks having record January – Stocks rallied to new highs again this week, as a number of companies reported higher than expected earnings. As well as posting solid fourth quarter earnings, they provided optimistic guidance regarding their outlook for 2018. Companies included the tax savings under the recently passed tax reform, a stronger domestic and world economy, and increased consumer spending as factors for their higher outlooks. The Dow Jones Industrial Average closed the week at 26,616.71, up from last week’s close of 26.071.72. It’s up 7.7% year-to-date. The S&P 500 closed the week at 2,872.77, up from 2,810.30 last week. It is up 7.5% year-to-date. The NASDAQ closed at 7,507.77, up from 7,336.38 last week. It is up 8.7% year-to-date.

Treasury Bond Yields – The 10-year treasury bond closed the week yielding 2.66%, up just slightly from 2.64% last week. The 30-year treasury bond yield ended the week at 2.91%, unchanged from 2.91% last week. We watch bond rates because mortgage rates follow bond rates.

Mortgage  rates higher this week – Although inflation has remained tame, rates have risen in recent weeks. Fixed rates follow corresponding bonds. For example, the 30-year fixed follows 30-year bond yields. Usually, long term bonds follow inflation, but bonds also attract investors looking for lower risk. With stocks soaring, many investors have moved money from low risk, low return bonds to stocks. Lower demand for bonds have driven yields up. If stocks begin to drop and inflation remains tame, I’d expect rates to settle in a little lower. Rates are still near historic lows. The January 25, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.15%, up from last week’s 4.04%. The 15-year fixed was 3.62%, up from 3.49% last week. The 5-year ARM was 3.52%, up from 3.46% last week.

2017 Gross Domestic Product – The Commerce Department reported it’s first estimate of the nation’s fourth quarter GDP growth at 2.6%. Experts had forcasted growth at 3%, so this initial estimate was disappointing. The initial estimate is often revised. For the year, the nation’s $17 trillion economy recovered from a slow start in the first quarter where GDP growth was just 1.4%, it grew to 3.1% in the second quarter, 3.2% in the third quarter, and ended the year at 2.6% in an initial estimate. Those quarterly rates are annualized, so if the initial estimate is not revised much the growth rate would be about 2.6% for the entire year.

Consumer spending higher in fourth quarter – Consumer spending, which is the biggest contributor to the economy,  grew at a 3.8% pace, its fastest pace in more than a year. Growth was partly driven by the strongest holiday shopping season in several years, according to data from Mastercard SpendingPulse. Business spending on large equipment also added to growth.

California existing home sales and prices increase in 2017 – The California Association of Realtors reported that existing single-family home sales totaled 423,760 in 2017, up 1.4% from 2016 when 417,720 closed escrows were reported. The median price paid for a home in California was $549,560, up 7.6% for 2017. Housing inventory, which had been at historically low levels, dropped even further. The unsold inventory index revealed that there was just a 2.5-month supply of homes in the market in December, the lowest monthly reading in 13 years. The number of homes for sale in 2017 was 12% below that of 2016. Los Angeles County saw a higher increase in prices than the state as a whole due to tighter inventory levels.  The median price in Los Angeles County increased 10.6% in 2017, while the number of sales dropped 7.3%. 

U.S. existing home sales highest in 11 years – The National Association of Realtors reported that the number of existing homes sold in 2017 increased 1.1% from 2016 to the highest level in 11 years. The median price was $246,800, a 5.8% increase from last December. Total housing inventory was 11.4% lower in December, compared to December 2016. There was a 3.2-month supply in December, down from a 3.6-month supply last December. It marked the lowest inventory level since NAR began tracking monthly inventory supply. Existing home sales include all sales of residential homes, condominiums, town-homes and co-ops reported to member associations throughout the country.

2017 new home sales highest in 10 years  – The Commerce Department reported that although the number of new homes sold in the U.S. dropped in December, new home sales increased 8.3% in 2017. The number of new homes sold hit a 10-year high in 2017. 

Have a great weekend,

Syd Leibovitch

Home listed by Rodeo Realty’s Lisa and Scott Sorrentino purchased by musician Ziggy Marley

Reggae musician Ziggy Marley, son of Bob Marley, has purchased a $5.55 million home in Toluca Lake. The spacious Spanish-style estate was listed by Rodeo Realty’s Lisa and Scott Sorrentino. The recently purchased home is featured in the Los Angeles Times.

Walled and gated with complete privacy positioned adjacent to the prestigious Lakeside Golf Club, the 9,300 sq. ft. home includes a dramatic center hall with a dome ceiling, a double-island chef’s kitchen, a family room, six fireplaces, two staircases, six large bedrooms and seven baths.

Additional features of the property includes a library, screening room, bell tower, bar, and wine cellar.

French doors lead to the backyard, which includes a courtyard fountain, a covered loggia, an outdoor kitchen, a basketball court, a meditation garden, and a swimming pool and spa.

To read the LA Times article on this property, click HERE.

Everywhere You Need To Eat In Venice Beach

COURTESY OF HINANO CAFE

HINANO CAFE

Unpretentious institution with a straightforward menu
This unassuming dive bar on the busy Washington strip is the type of place where, at 1am on a Monday night, you can play pool with a stranger, sip on ice-cold beer served from a frosty glass pitcher, and tear into a juicy, classic burger as unpretentious as the place itself. And if your surroundings look familiar, that’s because Hinano has appeared on shows like Dexter and NCIS: Los Angeles, as well as the movie S.W.A.T. — yes, the one that teamed up Samuel L. Jackson and Colin Farrell.

ABBOT’S PIZZA COMPANY

ABBOT’S PIZZA COMPANY

Long-standing pizzeria famous for its bagel crusts
The geniuses at Abbot’s hit the jackpot by fusing two of man’s favorite foods. For over a decade, this place has been serving delicious pizzas made with chewy, yet crisp, bagel crusts — a starchy match made in heaven.

COURTESY OF ROSE CAFE & RESTAURANT

ROSE CAFE

Sprawling open-kitchen restaurant serving all-day Californian fare
Under the helm of Chef Jason Neroni, Rose Cafe (which underwent a brilliant reinvention in 2015) has grown into a perpetually lively Rose Avenue hotspot, with reimagined favorites for breakfast and brunch like oat griddle pancakes and a breakfast burrito served with peanut-poblano mole. Dinner dishes fall on the rich end of the spectrum — ranging from charcuterie (whipped lardo and porchetta) to al dente pastas (carbonara is a classic, but order the yuzu- and uni butter-flavored wakame spaghetti for something unique). If none of the above floats your boat, there’s plenty more on the menu (which is vast enough to match Rose Cafe’s sprawling, stunning space).

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SUNNY SPOT

Fun brunch or dinner spot with colorful, Caribbean flavors
Sunny Spot’s brunch scene is loud and celebratory — sort of like its bold, Caribbean-inspired food. The savory-leaning menu (which until 2015 was overseen by Roy Choi) boasts pulled pork burritos, huevos rancheros, and your pick of bottomless mimosas, Bloody Marys, or rum punch (see: loud and celebratory).

COURTESY OF CAFE GRATITUDE

CAFE GRATITUDE

Delicious organic, vegan eats that will satisfy even omnivores
Venice Beach’s hippie-dippie vibes are written all over Cafe Gratitude’s organic, plant-based menu. Dishes go by names like I Am Grateful (a quinoa/kale bowl drizzled with garlic tahini sauce) or I Am Warm-Hearted (grilled polenta served with braised summer squash), but each one is surprisingly satisfying and delicious. When your brain’s screaming, “I am hungry, but want to eat healthy,” go here.

THE TASTING KITCHEN

Upscale restaurant with a market-driven menu
The Tasting Kitchen is about as fancy as Venice Beach gets — meaning not very, although considering its unfussy attitude and spontaneous approach to food, that’s a plus. Order the salt-roasted branzino and the pimento cheeseburger a la carte, or if you’re feeling extra hungry, gun for the five-course chef’s choice tasting menu, which’ll set you back a not-so-terrible $95 per person.

COURTESY OF GJELINA

GJELINA

Rustic, modern American food with charming decor
It’s hard to beat this Abbot Kinney standby for date night: The lighting’s dim, most of the food is meant to be shared, and the rustic-slash-romantic outdoor patio will charm your dining partner as much as the perfectly executed squash blossom pizza and crisp duck confit. That said, Gjelina’s brunch menu is equally excellent — y’know, in case the date goes especially well.

COURTESY OF LA ISLA BONITA

LA ISLA BONITA

Tasty grab-and-go tacos for cheap
Perched on the corner of Rose and 4th, this taco truck is a local gem. The fresh ceviche tostada, which maintains a satisfying crunch without ever getting soggy (how?!), is a must, though the meat-centric menu is killer, too. Easy-on-the-wallet prices also mean you won’t mind grabbing a seat curbside.

COURTESY OF FLAKE

FLAKE

Cozy cafe with filling breakfast and lunch options
Nothing fixes a tequila-induced morning migraine like one of Flake’s stuffed-to-the-gills breakfast burritos, or its hearty Super-Crojo: a pile of warm scrambled eggs, crisped bacon, smoked Gouda, and special secret sauce tucked into a flaky, toasted croissant.

COURTESY OF GJUSTA

GJUSTA

Perpetually busy artisanal bakery-meets-deli-meets-cafe
What Gjusta lacks in seating, it more than makes up for with dripping porchetta melts and baklava croissants. Mix and match from different stations — one brimming with house-made pastries; the next filled with charcuterie, cured fish, and interesting spreads; still another displaying enormous pies and cakes — and eat it all while perched at a communal table out on the patio.

PAUL SUN/THRILLIST

WURSTKÜCHE

Spacious sausage-focused restaurant ideal for big groups
You won’t find any weird mystery meat dogs here — only succulent, flavor-packed, gourmet sausages served on freshly baked rolls. That said, there are still some exotic options, like mildly spicy rattlesnake or duck and bacon links. The food and venue are casual enough for a quick, post-work bite, but the vibe’s also fun and boisterous if you want to do a big group dinner or birthday celebration.

COURTESY OF BELLISSIMO VENICE

BELLISSIMO VENICE

Unassuming made-to-order deli sandwiches by the ocean
Venice has plenty of exemplary dining options, but locals tend to avoid the overpriced, underwhelming eateries by the boardwalk. Bellissimo is an exception: the charming deli’s gourmet sandwiches are all you need pre-sun and -surf.

COURTESY OF BABY BLUES BBQ

BABY BLUES BBQ

VENICE BEACH

Authentic BBQ restaurant that encourages family-style dining
The restaurant’s got a Type A attitude about its meat, so all the prime cuts are tender, moist, and fall-off-the-bone delicious. That said, it’s the homemade barbeque sauces that really seal the deal. Pro tip: if you can handle the heat, smother your ribs in the fiery XXX blend.

COURTESY OF KOMODO

KOMODO

Food-truck-turned-brick-and-mortar hawking Asian fusion tacos
Taco purists may say that no self-respecting taco would include a sunny-side-up egg, but they’ve clearly never tasted Komodo’s MP3: It’s the perfect example of the restaurant’s Asian fusion mash-ups, it features chunks of sirloin steak, tater tots, and a fried quail egg. Meat, seafood, and accompanying dressings — like Indonesian-inspired pork rendang braised in coconut milk or chicken tossed with crushed peanuts and hoisin — can be made into a taco, burrito, or rice bowl, while sides like dumplings and kimchi nachos fill out the rest of the menu.

COURTESY OF DYLAN + JENI

CHARCOAL VENICE

Wood-fired eats in a sleek steakhouse setting
The brainchild of Chef Josiah Citrin, Charcoal cooks almost everything (lamb chops, smoky chicken wings, bone-in short ribs) over a live fire. Even non-meat dishes — like grilled squash with yuzu pumpkin vinaigrette or cabbage wedges baked in the embers until charred — get the same treatment and end up tasting like comfort food.

DAN GENTILE/THRILLIST

CASABLANCA

Iconic neighborhood restaurant offering classic Mexican and tequila
Casablanca serves mouthwatering Mexican (the tortillas, rumored to be made with beef lard, are legendary) and margaritas. A bartender wheels a cart of top-shelf tequila around and prepares drinks tableside, making you 100 times more likely to call a Lyft after dinner.

SCOPA ITALIAN ROOTS

SCOPA ITALIAN ROOTS

Buzzy restaurant serving a modern take on old-school Italian
Venice restaurants generally tend to be low-key affairs, which is why Scopa — with its high ceilings, exposed brick, industrial vibe, and a playlist that includes Sampha —  looks like it belongs more in the Arts District or West Hollywood. But there’s clearly a void that this cool Italian spot’s filling for Westsiders — especially in our stomachs, which have thoroughly enjoyed Chef Antonia Lofaso’s rich ricotta crostini, fried rice balls, and beautifully prepared pastas for the past few years. Scopa’s top-notch beverage program also means it’s a great place to kick-start your night out.

COURTESY OF CERVETECA

CERVETECA

Relaxed atmosphere with beers on tap and Mexican fare
Expecting a classic Mexican joint? Not your place. If, however, you’re in the mood for chipotle beer shrimp and Mexican corn on the cob, Cerveteca hits the spot. It’s also known for craveable barbacoa and fish tacos, as well as a spicy, seafood-heavy hangover soup.

WONHO LEE/THRILLIST

FELIX

Lively, critically acclaimed Italian trattoria with the best pasta in LA
If you somehow managed to secure a dinner reservation at Felix — currently the Westside’s most hyped Italian restaurant — make sure it’s on the early side. That’s because some of chef Evan Funke’s best dishes — especially the mouth-watering sfincione (a rosemary-kissed focaccia with an olive oil-oozing crust and pillow-soft interior) and meaty pappardelle — are actually worth the hype and tend to sell out before the late dinner crowd arrives. Have an 8pm seating? The rest of the food is still very good, with pizza dough mixed by hand and pastas made in an on-site, temperature-controlled room.

COURTESY OF SALT AIR

SALT AIR

Bright, airy, all-day restaurant with seafood-leaning menu
Salt Air doesn’t succumb to being your typical trendy Abbot Kinney hotspot, and that’s a good thing. This unassuming neighborhood spot nails its seafood dishes — like trout on brioche toast with Thai basil or chili-glazed Scottish salmon — with seasonal, locally sourced ingredients and flavors that don’t overwhelm. Everything is fresh and light, which means you’ll never leave here with a bloated food coma, which also means you can pop by to nearby Jeni’s or Salt & Straw for dessert.

SURFSIDE VENICE

SURFSIDE

Recently revamped sports bar serving elevated comfort food
Surfside moved into the space previously occupied by local hangout Danny’s — and it tried hard to preserve and display some of the former spot’s artifacts. But this sports bar/restaurant has a spotless, new look (although given its proximity to the boardwalk, we don’t expect that to last long). Most importantly, Surfside has a totally updated menu worth checking out: casual American comfort food with a few Asian-leaning flavors, like fries smothered in caramelized kimchi and sesame seeds, slow-roasted miso caramel pork belly, and a bulgogi burger. There’s lighter fare too (grain bowls and salads), but when you’re watching a football game with your fourth IPA in hand, all you’ll want is something heavy and preferably fried.

LA TOSTADERIA

LA TOSTADERIA

Mexican seafood gem slinging tostadas, tacos, and ceviche
After experiencing major success at Grand Central Market, this Mexican seafood spot just opened a second location on Abbot Kinney, bringing its Baja-influenced ceviche and tacos to the Westside. Most items are on the lighter side — like the chilled white fish tostadas or gringos tacos (a mix of grilled shrimp and tender octopus loaded on a sturdy corn tortilla) — but you can always order the shrimp and Oaxaca cheese Patrona burger for something more substantial. Bonus: Topo Chico’s also on the menu.

COURTESY OF SUPERBA FOOD + BREAD

SUPERBA FOOD + BREAD

Restaurant/cafe/bakery beloved for freshly baked goods and brunch
Superba’s a neighborhood go-to, welcoming at any time of day. Seasonal pastries, like churro croissants or pear pistachio danishes, are available to grab and go. Breakfast or brunch calls for an order of the delicious cheesy eggs served over levain toast, and the lunch menu has a varied selection of burgers, omelets, and sandwiches (fried chicken is a favorite), but dinner’s where things get a touch more creative, including flavor combos like roasted carrots with fennel and pickled raisins or fries drizzled with rice wine vinegar.

NEIGHBOR LA

NEIGHBOR

Cool, New American date night spot with artisanal cocktails
If you couldn’t snag a last-minute table at Felix and walked into nearby Neighbor for dinner, chances are you’d leave pretty happy — as long as you’re OK forsaking pure Italian food for the night. This relative newcomer to Abbot Kinney sports a typical new American menu (Brussels sprouts, cauliflower, and burrata for starters; diver scallops, chicken, and steak for mains), but there are a few surprises to be had, like potato-ricotta gnocchi and buckwheat noodles served with black garlic and enoki mushrooms. And don’t leave without ordering a drink: fancy craft cocktails boast names like Venice Queen and Kimmy Gimlet, while the wine list is handpicked by James Endicott (formerly of New York’s Per Se). Oh, and those groovy tunes you hear? That’s DJ Morse Code, the restaurant’s Music Director who was hired to curate its auditory vibes.

NIGHTHAWK: BREAKFAST BAR

NIGHTHAWK: BREAKFAST BAR

Late-night joint serving grown-up breakfast for dinner
There’s a huge chunk of the general population who thinks breakfast (or brunch) food is the best food, which is where Nighthawk comes in — but this breakfast-themed restaurant (formerly based in Hollywood) doesn’t just serve your standard morning fare. The soft, scrambled eggs come with foie gras and duck jus, French toast is saturated in pear brandy and topped with mascarpone mousse, bacon is candied (and amazing), and coffee drinks are made with alcohol. Perhaps most creative of all? Spiked cereal milk cocktails in pairings like Cinnamon Toast Crunch coupled with spiced rum or Cocoa Puffs and vanilla vodka.

COURTESY OF JENI’S SPENDID ICE CREAM

JENI’S SPLENDID ICE CREAMS

Creamery hawking creative, crave-worthy flavors
Ohio-based Jeni’s has four fantastic LA shops, but the spacious Venice outpost might be best of all — bright and quirky like the vibe of the street it’s on. Flavors can range from understated and delicious (like Savannah Buttermint, a simple, minty-buttery ice cream with white chocolate flecks) to utterly loaded and delicious (such as gooey butter cake or the sweet cream biscuits and peach jam combo). And if those imaginative flavors don’t keep you coming back again and again, the ice cream’s rich, luscious mouthfeel will.

C&O TRATTORIA

C&O TRATTORIA

Family-friendly Italian eatery with hearty portion sizes
This family-friendly Italian restaurant straddles the Venice/Marina del Rey border, but deserves to be on dining guides for both neighborhoods thanks to three little words: free garlic knots. These hot, doughy, chewy balls are absolutely smothered in garlic and olive oil and come in unlimited quantities; feel free to supplement with C&O’s pastas, which are excellent and generously portioned but hard to finish when you’ve polished off your weight in complimentary bread.

WABI VENICE

Recently upgraded Japanese hangout with inventive dishes
The decor and menu at this long-time Japanese spot — formerly known as Wabi Sabi — got an upgrade recently that’s turned it into a hip hangout. Grab a table on the outdoor patio, where the walls and ceiling drip with lush hanging plants, and start with izakaya-style small plates. Then dive into the heart of the menu: signature Japanese-style seafood with a twist, like seared toro served with caviar, salmon sprinkled with ponzu and truffle oil, or amberjack with coconut chili lime. Rolls are innovative here as well; the Pablo Escobar includes fried leek and crawfish salad, while the PB&J is stuffed with sous vide pork belly, avocado mousse, and 24K gold (edible, of course).

DUNE

Fresh and quick Mediterranean eats for the millennial
Dune is a Middle Eastern oasis in the sea of new American, Italian, and Mexican restaurants that make up the Venice dining scene. Few other spots on the Westside specialize in making falafel this good: a crisp exterior that gives way to a fluffy, tender interior, easily broken down for eating atop charred flatbread with pickled veggies, onions, and loads of creamy hummus. (If you’ve ever eaten at Paris’s L’As du Fallafel, Dune’s version of the balls is something like that.) There’s more to the menu — a fried chicken “shawarma” sandwich, chicken souvlaki, and lamb — but eating the falafel alone will leave you as happy as a clam.

COURTESY OF WALLPAPER

WALLFLOWER

Modern Indonesian fusion spot perfect for date night
There aren’t a ton of Indonesian restaurants on the Westside, and there are even fewer that are housed in a beautiful space with modern architectural details. Combined with good Indo food (somewhat traditional, somewhat not), this makes Wallflower pretty special. Get the nasi goreng, bakwan (deep-fried corn fritters balanced by a vinegar-chili dip), and a legitimately spicy beef rendang that’s been simmered in kaffir lime leaves, lemongrass, and galangal.

Article courtesy of Thrillist.