The Ferrari F430 Spider

Julio Elias of Rodeo Realty’s Beverly Hills office has one of those sports cars that’s a definite head turner: a cherry red convertible Ferrari F430 Spider.
But rather than soak in all that head turning attention just for the sake of soaking in attention, Elias has decided to make the car work for him. He recently had the Rodeo Realty shield and logo added to the hood and his web site added to the windshield.
Check it out!

Elias said he did it to promote himself and the company. He’s proud of the Ferrari F430, proud of working for Rodeo Realty, and says so far the mobile ad campaign is paying off in the form of solid real estate leads and business.

Featured Home of the Week: The Chatelaine in Playa Vista

This luxury home is located in the prestigious Chatelaine property in Playa Vista. It is the largest one-story “J” unit in the building, featuring 2 bedrooms, 3 baths, den/office, and a total of 2,845 square feet of living space. It has stone floors, wood floors and carpet in the bedrooms. 
The unit has unobstructed views of Ballona Wetlands, plenty of natural light, high ceilings with large windows and shutters, formal living room, formal dining room with fireplace, separate laundry area, and large gourmet kitchen with island and breakfast area.
Bedrooms are located on opposite sides of the home for added privacy. The master suite has an oversized tub, walk-in shower and dual vanity sinks.  And a few of the building’s amenities include concierge, business center, private pool, spa and outdoor fireplace.
The Chatelaine is in walking distance to Coffee Bean, restaurants, bank and dog parks. Francesca Luteraan of Rodeo Realty is the listing agent. She can be contacted at (818) 618-9368. The home is priced at $1.1 million.

The 20 Percent Down Issue

Carol Wolfe of Rodeo Realty’s Encino office recently wrote a column for Encino.Patch.com about Congress considering a proposal that will in effect require buyers to put 20 percent down on conventional residential mortgages in order to get the prime rate.

To see the original column visit: http://encino.patch.com/articles/why-homebuyers-shouldnt-be-required-to-put-down-20-percent

The piece was based on, and in support of,  the National Association of Realtors® (NAR) recently sending out a Call for Action on the issue. Here is the short version:

The proposal is tied to The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. A section of the Dodd-Frank Act requires financial institutions that securitize mortgage loans to retain at least 5 percent of the credit risk.

The intent is to force lenders to have more “skin in the game” and encourage responsible lending. Remember that securitization of high-risk mortgages is one practice that contributed heavily to the recession and housing market crash.

But something called a “Qualified Residential Mortgage” (QRM), and federally-backed loans such as FHA and VA are exempt from the 5 percent rule.

If this new proposal passes, only conventional loans with 20 percent down or more will be considered QRM. Those loans will get the best mortgage rates, because banks have a market incentive to securitize them. They don’t have to have additional skin in the game.

Lenders can underwrite mortgages for folks with less down. But they’re likely going to pass-on that increased risk to consumers in the form of higher interest rates, etc… This will put home ownership out of reach for many creditworthy middle-income Americans.

Wolfe said the proposal is not a step in the right direction for turning around our struggling housing market and economy. She agrees with the NAR that responsible lending standards and ensuring a borrower’s ability to repay have the greatest impact on reducing lender risk.

For more information and to see a sample letter to Congress visit NAR at http://www.realtor.org/

Rodeo Realty Woodland Hills Office

Here’s a nice shot of all of the great people working out of Rodeo Realty’s Woodland Hills office.

As many of you may know, the Woodland Hills office went through a significant expansion and renovation at the end of 2010. Here’s a shot of the exterior.
Manager: Jason Katzman
21031 Ventura Blvd, 100
Woodland Hills, CA 91364
Phone: (818) 999-2030
Fax: (818) 999-0826

Featured Home of the Week: Bell Canyon Contemporary

This 7,300 square foot custom architectural is located on more than an acre of land in the exclusive guard gated equestrian community of Bell Canyon. Built in 2009, the contemporary home provides a tranquil and serene setting, panoramic views, and picture windows in almost every room.

 
 
The five bedroom, seven bath house features: elevator; “Smart House” technology with lighting / music and alarm control; home office with views; gym; state of the art media room; wine cellar; custom designed stainless steel entry door; sparkling maple floors; custom lighting; 3-car garage; and a modern kitchen with built in Sub Zero / Miele / Wolf appliances.

Perfect for entertaining, the home also has a suspended infinity pool, spa, indoor/outdoor fireplace, outdoor kitchen and roof top patio that encompasses more than 2000 square feet (approx). The rooftop patio also has a fireplace.

Sunny Yi of Rodeo Realty is the listing agent. The home is priced at $2,980,000. For more information visit the property web site at http://www.175dapplegrayrd.com/

Reception in Honor of Congressman Adam B. Schiff

Last night, Syd and Linda Leibovitch hosted a reception in honor of Congressman Adam B. Schiff of California’s 29th Congressional District.

The Congressman represents the communities of Alhambra, Altadena, Burbank, Glendale, Griffith Park, Monterey Park, Pasadena, San Gabriel, South Pasadena, and Temple City.

The wine and cheese event took place at Rodeo Realty’s new Beverly Hills office located at 202 N. Canon Drive. Syd Leibovitch is the founder and president of Rodeo Realty, a residential real estate firm with 11 offices and more than 1,000 agents in Los Angeles and Ventura Counties.

During his tenure in Congress, Schiff has focused on bolstering national security, strengthening our communities, and introducing a “Kids First” agenda of initiatives to improve education, safety, and health care for our kids, according to his Web site.

He has been a leader on national security efforts and has pushed for a broader strategy that emphasizes diplomacy, intelligence reform, and efforts to improve our nation’s ability to stabilize countries to prevent future failed states from becoming havens for terrorists.

Schiff has pressed for the adoption of the bipartisan 9/11 Commission recommendations, cosponsoring a measure that implements the recommendations, which passed the House in 2007. He is also known to be a leader who fights against intellectual property theft, and one who advocates for a patient bill of rights.

For more information about the Congressman visit: http://www.schiff.house.gov/

2011 REALTOR® Nationwide Open House Weekend June 4-5

Join state and local REALTOR® associations across the country as they host the nation’s largest open house campaign, Saturday and Sunday, June 4-5, 2011.

For one weekend in June, REALTORS® are encouraged to hold open houses in neighborhoods from coast to coast, bringing value to both buyers and sellers.

The event provides a tremendous opportunity to promote the benefits of homeownership and continue an open dialogue with consumers about the housing issues that matter most to them.

For more information visit the California Association of REALTORS® at: http://www.car.org/newsstand/news/nationwideopenhouse/#

Ellis Island Medal of Honor

Congratulations to Joseph R. Haiek,  father of Alex and Caterina Haiek of Rodeo Realty’s Beverly Hills office! He was recently among 100 recipients of the Ellis Island Medal of Honor. He received the award at a ceremony in New York on May 7, 2011.

Sponsored by the National Ethnic Coalition of Organizations (NECO), the annual awards are “designed to pay homage to the immigrant experience, as well as individual achievements, of U.S. citizens from various ethnic backgrounds,” according to the NECO Web site.

“The honorees are remarkable Americans who exemplify outstanding qualities in both their personal and professional lives, while continuing to preserve the richness of their particular heritage,” said NECO. “We honor them because they create a better world for all of us in the future by the work they do today.”

Joseph R. Haiek founded the News Circle Publishing House in Los Angeles in June 1972. He has also published the Arab American Affairs Magazine, six editions of the Arab American Almanac series, and founded the Arab American Historical Foundation and Arab American Press Guild.

The Almanac’s 6th edition, which is 608 pages, was published in late 2010. The main purpose of the series is to broaden the reach and availability of pertinent and accurate reference information about Arab Americans.

Alex and Caterina Haiek specialize in residential and commercial real estate consulting in Beverly Hills and the greater Los Angeles area. The brother and sister team is known as the Haiek Group. They can be reached at http://www.haiekgroup.com/ , Alex@RodeoRE.com, and Caterina@RodeoRE.com.

OpenHouse LA Films Pacific Palisades Home

Update: LXTV/OpenHouse LA filmed one of Rodeo Realty’s listings in Pacific Palisades today! We don’t have a firm air date yet, but stay tuned, because this house is incredible. Many thanks to the film crew and producer for spending the day today at the property. Here’s the basic information on the listing.

Joe Babajian of Rodeo Realty and Bachir Oueida of Nelson Shelton & Associates are co-listing the 11,000 square foot architectural property.  Built in 2010, it sits on a ¾ acre lot that is elevated and poised against the mountain.  Mature Oak and Sycamore trees provide unmatched privacy and serenity.

The resort-like estate boasts 7 bedrooms and 9 baths, showroom quality kitchen, extra large formal living and dining rooms with 14-foot ceilings, media and game room, an approx. 6,000 sq. ft. flat grassy back yard plus an incredible 20′ x 40′ zero-edge pool, spa, bbq and outdoor bar.

It has a spectacular rooftop sun deck with  panoramic views, ocean breezes and an additional bbq and fire pit. The discreet gated entry and long drive opens into a large motorcourt plus a 4-car garage. The estate is on the market for $14,950,000.