Home listed by Rodeo Realty’s Joe Babajian and Scott Strassner featured in LA Times

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Featured as a ‘Home of the Day’ in the Los Angeles Times is a Spanish Revival estate listed by Rodeo Realty’s Joe Babajian and Scott Strassner.

The gated estate in Beverly Hills is set atop a knoll with ocean and city views. The $29.5 million home comes with seven bedrooms and 10 bathrooms.

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Additional features to the home include a guesthouse, a shell-shaped swimming pool, a living room, dining room, entry, breakfast area, three fireplaces, and a three-car garage.

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

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Rodeo Realty's Sherman Oaks agent Jeff Hartman lists home of Emmy-winning composer John Henry Kreitler

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American Emmy-winning composer and songwriter John Henry Kreitler and his wife, Emmy-nominated vocalist/percussionist Patsy Meyer, have put their home in Los Angeles on the market for $1,299,000. Jeff Hartman of Rodeo Realty Sherman Oaks holds the listing, 12309 Emelita Street.The home has been featured in DIGS magazine and the Los Angeles Times.

The French Country Gated Estate is perfect for entertaining and nestled on an expansive double lot in Valley Village, offering tons of charm and natural light throughout. The inviting entryway leads you into the lovely foyer where you’ll experience the living room with bay windows and an oversized fireplace, perfect for catching up with guests unwinding after a long day or curling up with your favorite book.

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The home is centered around the Open Concept Style Chef’s Kitchen that features a quaint and casual eating area, gorgeous custom red marbled granite counter tops with a large center island and prep sink, Top of the Line Appliances including a Sub-Zero Refrigerator, Farmhouse Apron Sink and even a ‘Chicago Pot Filler’ above your ‘Wolf’ Counter Top Range. The open kitchen flows beautifully into the enchanting pitched roof dining room and into the warm and comfy family room with fireplace; here you’ll catch your first view of the spacious backyard with shimmering pool, lush grounds with arbor and old-fashioned brick bbq.

The luxury master suite offers plenty of privacy, a large walk-in closet, and a Master Bath with exquisite mosaic tile work, custom designed dual vanities, an oversized frameless shower enclosure, and a jetted Jacuzzi bath set decadently in front of a fireplace. The home also features two additional good-sized en suite bedrooms, one of which has a wood-burning fireplace and French Doors that open up to the pool.

The property also boasts a nearly 900 sqft. light and bright Open Concept Guest House/Mother-In-Law Suite with separate entrance, vaulted wood ceilings, kitchenette, ¾ bath, walk-in closet, in-unit washer and dryer, independent HVAC System, and French Doors that open to the pool.

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In addition, there is an approximate 1000 sqft. State-Of-The-Art Recording Studio, ideal for music recording, film editing, and post-production. There is a large control mix room, spacious isolation booth for drums, vocals, VO, etc., and a separate machine room for equipment noise isolation. It includes a separate office (also wired for live recording) with built-in cabinets and storage, and underground cabling for video and audio feeds to booth, control and office. The studio has its own kitchen, bathroom and private patio, and off-street, gated parking can accommodate several vehicles. The studio was constructed in the original 4-car garage on the property and is separate and detached from the main residence. It has it’s own separate electrical supply and breakers, and separate HVAC system. Constructed as a ‘room within a room’ and using technology and materials from Acoustic Science Corporation. As a result, the studio has excellent sound isolation and acoustics.

The property also has a separate storage room adjacent to the studio and an outside storage area that includes large shed for additional storage.

The ten-time Emmy-winner’s credits as a composer include scores, songs, incidental, and source music for numerous TV shows such as, “Friends,” “Homicide,” “Melrose Place,” “Saturday Night Live,” and several daytime dramas and the European series, “Riviera.”

For more details on the property, visit www.12309emelita.com

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

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Economic update for week ending February 4, 2017

U.S. Employers add 227,000 jobs in January – The Labor Department reported that 227,000 new jobs were added in January. It was the most workers added in four months. Experts had expected a gain of 180,000, so this was welcome news to investors and stocks rose making up losses earlier in the week. The unemployment rate was almost unchanged at 4.8%, as more workers entered the workplace. The labor participation rate, which shows the share of working-age people in the workplace, increased to a 4 month high of 62.9% from 62.7%. Historically, the participation rate has hovered for several years near a 30 year low, showing that many people have given up looking for a job. The labor force is growing and people are re entering the workforce. That doesn’t mean that 227,000 new jobs is not a strong number, it is, but it does explain why the unemployment rate is so low and we keep adding jobs. It also may explain why wage growth has been so stubborn. Usually, when the unemployment rate drops to full employment levels, we see strong wage growth. Not in this recovery. Wages in January grew just 2.7% from last January, according to the report. 

Stock markets gain nearly 1% on Friday to end the week unchanged – Stocks had a rocky week. They opened down as last Friday’s low fourth quarter GDP number sunk in, some investors were spooked by the travel executive order, and some corporate profits came in lower than expected. Friday’s release of January’s strong job growth and another executive order rolling back some financial regulation in The Dodd Frank Bill sparked a rally and markets increased almost a full percentage point, which made up for all their losses throughout the week. 

The DOW Jones Industrial Average closed the week at 20,071.46, down just slightly from last week’s close of 20,093.78. The S&P 500 ended the week at 2,297.42, up slightly from its close of 2,294.69 last week. The NASDAQ closed the week at 5,666.77, almost unchanged from last week’s close of 5,660.78.

U.S. Treasury Bond yields – The 10-year U.S. Treasury Bond closed the week yielding 2.49%, unchanged from 2.49% last Friday. The 30-year Treasury Bond yield closed the week at 3.11%, up from 3.06% last week. Mortgage rates follow bond yields, so we watch treasury bonds closely.  

Mortgage rates – The Freddie Mac Primary Mortgage Survey released on February 2, 2017 revealed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 4.19%. The 15-year fixed average rate was 3.41% The 5/1 ARM average rate was 3.23%.

Pending home sales show increase – The California Association of Realtors reported that contracts signed to purchase existing (re-sale) homes in California in December rose 1.9% statewide from the number of contracts signed last December. Southern California saw the largest increase, rising 7.8% from last December. Pending sales are an indication of what future closed sales will total. If pending sales pull through to closing we see strong numbers 30 to 60 days later.

Have a great weekend,
Syd

Home designed and listed by Rodeo Realty’s Darryl Wilson featured in LA Times

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A contemporary home designed and listed by Rodeo Realty’s Darryl Wilson has made news in the LA Times.

The Tony ‘Birds Streets’ perch is highlighted for its stellar views, which stretch from the ocean to downtown Los Angeles.

“The crisp and clean-lined exteriors and interiors unite this reimagined contemporary home in Hollywood Hills West,” said the LA Times.

The three bedrooms, three bathrooms home features a living room with fireplace, a formal dining area, kitchen island bar, stainless-steel appliances, and a breakfast nook.

Outdoors, there’s an infinity pool, a barbecue center with built-in seating, a dining area, and a two-car attached garage.

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

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Rodeo Realty’s Peter Maurice and Tregg Rustad’s ultra-modern condominium featured in LA Times

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Featured in the Los Angeles Times is a 15th-floor corner condominium in the Diplomat building, listed by Peter Maurice and Tregg Rustad of Rodeo Realty Beverly Hills. The corner unit was featured as the ‘Home of the Day.’

“The formal entry leads to light and bright gallery-worthy spaces with views that extend from Century City to the ocean,” said the LA Times.

The museum-quality residence has a corner dining area that seat 12, an oversized living room with fireplace, a large terrace with water feature and vertical succulent garden.

The ultra-modern condo also has two opulent bedroom suites, a master suite with a walk-in closet, a guest suite with hand screened Japanese wall covering, a large den, and a wet bar.

The unit is being offered at $1.999 million. HOA dues are $2,370/month and include earthquake insurance, water, cable, internet, and building amenities.

To read the LA Times feature on this condominium, click HERE.

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Economic update for the week ending January 28, 2017

DOW breaks 20,000 – All three major indexes hit record highs again this week before dropping slightly on Friday after a very disappointing GDP report was released. Investors seemed to shrug off the report and analysts expressed optimism for the economy in 2017 despite the poor showing in the final quarter of 2016. The DOW Jones Industrial Average closed the week at 20,093.78, up from last week’s close of 19,827.25. The S&P 500 ended the week at 2,294.69, up from its close of 2,271.32 last week. The NASDAQ closed the week at 5,660.78, up from last week’s close of 5,555.33.

U.S. Treasury Bond yields – The 10-year U.S. Treasury Bond closed the week yielding 2.49%, unchanged from 2.48% last Friday. The 30-year Treasury Bond yield closed the week at 3.06%, also unchanged from 3.05% last week. Mortgage rates follow bond yields, so we watch treasury bonds closely.

Mortgage rates – The Freddie Mac Primary Mortgage Survey released on January 19, 2017, revealed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 4.19%. The 15-year fixed average rate was 3.30%. The 5/1 ARM average rate was 3.20%.

Economy slows in final quarter of 2016 – The U.S. gross domestic product, the broadest measure of the value of all goods and services, grew at a 1.9% annualized rate in the fourth quarter of 2016. This followed a 3.5% rate in the third quarter, which was the largest gain in 2 years. The first half of the year showed the expansion had stalled. It was widely felt that the economy had picked up when the third quarter results showed growth had picked up, but this preliminary report, the first of 3, surprised experts who were expecting at least a 2.5% gain. Analysts quickly came out and expressed optimism for 2017. Investors did not react much by the report and stocks fell just slightly from record levels. For the entire year GDP grew just 1.9% in 2016. The report also showed that consumer spending increased 2.5% and inflation was very tame.

Rodeo Realty's Beverly Hills agent Ron Wolotzky, marketing agent to one of the most expensive homes in Atlanta

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One of the most expensive homes for sale in Atlanta, Georgia right now is being marketed by Rodeo Realty Bevelry Hills agent, Ron Wolotzky.

The Atlanta villa has a price tag of $18.8 million. The home was featured this month in The Wall Street Journal as one of Atlanta’s homes with southern comforts.

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The megamansion has been catching the media’s attention since it went back on the market last year. Realtor.com, Curbed Atlanta and Redfin are also a few sites that have featured the listing.

“The house is being sold turn-key—everything you see comes with it,” tells Wolotzky to Realtor.com.

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According to the property video, the Mediterranean-style home has nine bedrooms and 11 bathrooms. The mansion also has a theater, a cigar room, a beauty salon, two gyms, a sauna, massage room, a recording studio, two wine cellars and three outdoor kitchens. The driveway itself can hold more than 100 cars.

The elaborate estate is not only drawing attention for its unique décor, features, and price tag, but also for being featured in both movies and TV shows.

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The home is reportedly where Jesse Eisenberg, Woody Harrelson, and Emma Stone find (and later shoot) Bill Murray in “Zombieland.” The party scene in “The Three Stooges” remake was also filmed inside the home. Its latest appearance was in Ice Cube and Kevin Hart’s “Ride Along 2,” the home was used as the residence of Antonio Pope, the villain in the movie.

To read the entire Realtor.com article on the home, click HERE.
Redfin, HERE.
Curbed Atlanta, HERE.

For more info on the property, click HERE.

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Economic update for the week ending January 21, 2017

Stocks up on Inauguration Day – Stocks rose Friday after dropping steadily during the week. Even with Friday’s gains, stock markets ended the week lower. The DOW Jones Industrial Average closed the week at 19,827.25, down from last week’s close of 19,885.73. The S&P 500 ended the week at 2,271.32, unchanged from its close of 2,274.64 last week. The NASDAQ closed the week at 5,555.33, down from last week’s close of 5,574.12.

U.S. Treasury Bond yields – Treasury bond yields rose this week. The 10-year U.S. Treasury Bond closed the week yielding 2.48%, up from 2.40% last Friday. The 30-year Treasury Bond yield closed the week at 3.05%, up from 2.99% last week. Mortgage rates follow bond yields, so we watch treasury bonds closely.

Mortgage rates – The Freddie Mac Primary Mortgage Survey released on January 19, 2017 revealed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 4.09%. The 15-year fixed average rate was 3.34%. The 5/1 ARM average rate was 3.21%. Rates rose near the end of the week. They should be about 1/8% higher in next week’s survey.

California home sales and prices up in December – The California Association of Realtors reported that December’s statewide median price was $509,960, up 3.9% from last December’s median of $489,770. For the year, the median price was $502,250, up 5.4% from 2015’s median price. For 2016, preliminary figures had 416,250 existing homes sold, up 1.7% from 2015’s 409,410 existing homes sold. Existing home sales include all attached and detached re-sale single family homes reported as closed escrow to MLS systems throughout California. Very concerning was the unsold inventory index. It showed that there is only a 2.6 month supply of homes on the market. A normal market has a 6 to 7 month supply.

California unemployment rate drops to 5.2% – The California Employment Development Department reported that California employers added 3,700 net new jobs in December. It was a solid year with the state adding 383,900 new jobs in 2016. The unemployment rate dropped to 5.2%, down from 5.9% last December. Los Angeles County had even stronger results. The county’s employers added 58,600 net new jobs in 2016. The L.A. County unemployment rate ended the year at 5%, down from 6% at the end of 2015.

Have a great weekend!

Syd

Rodeo Realty helps veterans suit up for success

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Towards the end of 2016, Rodeo Realty teamed up with Assemblymember Matt Dababneh to help Farmers Insurance’s “Suits for Soldiers” program.

For an entire month, all Rodeo Realty offices in Los Angeles and in the San Fernando Valley area became drop off locations and collected donated suits to help active duty military personnel transition to civilian work and life.

Thanks to everyone’s donations and efforts, Assemblymember Dababneh collected more than 450 suits.

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On Monday, many veterans were invited to the Farmers Insurance headquarters in Woodland Hills to select a gently used suit to wear for their first day on the job.

“Initially, the goal was to collect 45 suits from residents in the 45th Assembly District,” Dababneh told the Los Angeles Daily News. “However, due to the incredible amount of support from members of the community, we were able to collect over 450 suits and outfits which will benefit local veterans.”

Rodeo Realty is happy to help support veterans who have bravely served our country.

To read the Los Angeles Daily News article on “Suits for Soldiers,” click HERE.

 

Rodeo Realty's Beverly Hills agent Antony Arkel lists $12.995 million home, featured in LA Times

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This week, the Los Angeles Times featured a home listed by Rodeo Realty’s Antony Arkel. His $12.995 million listing was one of this week’s ‘Home of the Day.’

The Traditional-style house was highlighted for its garden setting in Beverly Crest.

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The 4,892-square-foot-home has four bedrooms and six bathrooms. Rooms look out onto a formal rose garden and manicured lawns with a path leading to the separate guesthouse and swimming pool.

Additional features to the home: a library/study, a family room with a wet bar, multiple fireplaces, antique chandeliers, and a three-car garage.

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

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