Rodeo Realty

July 21, 2016

Home listed by Rodeo Realty's Sunset agent Robert Grandinetti featured in the LA Times as "Home of the Day"

Nestled in a secluded subdivision known as ‘Hollywood Oasis’ sits a sophisticated, private Mid-Century home that’s on the market and listed by Rodeo Realty’s Robert Grandinetti. 5524 Tuxedo Terrace has three bedrooms, two baths and a distant view of the world famous Hollywood sign.

The entertainer’s home is one of this week’s “Home of the Day” in the Los Angeles Times. According to the newspaper, the Tuxedo Terrace home has ‘Mad Men’ style–with its midcentury style and streamline sheen.

Built in 1961, the home has beautifully scaled, light-filled rooms, an open floor plan and the quintessential California indoor/outdoor flow. A chef’s kitchen is at the heart, with ample storage and counter space, top end appliances (Viking, sub-zero, Meile) and an open breakfast bar. The dining room has a tiered ceiling with clearstory windows that distribute natural light throughout the living areas. The backyard has a pool, spa, and a large entertaining patio complete with a custom fire pit—all a natural extension of the living space. The private master suite also opens directly to the pool and has a large walk-in closet and a gorgeous bath. Additional features include a gated courtyard entrance, 2-car direct access garage, a large 9,200 sq. ft. lot, laundry room, limestone, wood floors, and much more. A very secluded, exciting, resort-like LA pad!

5524 Tuxedo Terrace is offered at $1,995,000. For more information on the property, visit www.5524tuxedoterrace.com

To read the LA Times feature, click HERE

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July 16, 2016

Economic Update for the week ending July, 16, 2016

Stocks rise again this week – Stocks were up for a third week in a row reaching a series of record highs. The sharp rebound has been fueled by better than expected economic data, higher expectations for second quarter corporate earnings, and low interest rates. The Dow Jones Industrial Average closed the week at 18,516.55, up from 18,146.75 last Friday. The S&P 500 closed the week at 2,161.75, up from 2,129.90 last week. The NASDAQ closed the week at 5,029.50, up from last week’s close of 4,956.76.

Bond yields rise this week – After dropping steadily for 3 straight weeks bond yields rose this week. The 10 year U.S. Treasury bond yield closed the week at 1.60%, up from 1.37% last Friday. The 30-year U.S. Treasury bond closed at 2.30%, up from 2.11% last week. Mortgage rates follow bond yields so expect mortgage rates to rise slight next week.

Mortgage rates – Mortgage rates were slightly higher this week, yet still near historic lows. The Freddie Mac Primary Mortgage Survey released on July 14, 2016 showed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 3.42%. The 15-year fixed average rate was 2.72%. The 5/1 ARM average rate was 2.76%.

Industrial production outpaces expectations in June – Industrial production rose 0.6% in June, it’s largest increase in 11 months, according to the Federal Reserve. Economists had forecasted a 0.3% increase. Robust auto production lifted the consumer durables category, as the output of consumer energy products also jumped. Manufacturing output rose 0.4% in June. But in the second quarter, factory output fell at an annual rate of 1%. The index for utilities climbed 2.4% due to warmer weather that increased demand for air conditioning.

Retail sales beat expectations in June – The Commerce Department Reported that retail sales rose 0.6% in June. It was the third straight month of increases after sales seemed to be stalling in the beginning of the year. Sales are now up 2.7% from one year ago. Economists had expected just a 0.1% increase.

Home sales figures for June should be available next week. They will include, number of sales, median price changes, and home inventory levels.

Have a nice weekend!
Syd

July 14, 2016

Rodeo Realty's Sherman Oaks agent Neal Leviton lists former home of legendary film star Marion Davies

A spectacular compound originally built for American film actress Marion Davies is on the market for $3,399,999. Rodeo Realty’s Neal Leviton is one of the listing agents to the property, which has headlined in the Los Angeles Times, Curbed and Realtor.com.

The 9 bedroom, 11 bathroom estate has nearly 14,000 sqft. of living space and sits on 2.77 acres. Outdoors, the property includes a pond with a waterfall, a tennis court and a pool/spa. The grounds are immaculate and the property is maintained by two full-time employees.

In 1956, Davies, who was William Randolph Heart’s mistress and a legendary film star of the silver screen era in the 1930s, purchased a piece of land from the founder of Hyatt Hotels, Hyatt Robert von Dehn. She built a home on the property that is known as 1 Von Dehn Road in Rancho Mirage, CA.

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Hearst was a publishing magnet, best known for building the nation’s largest newspaper chain and the magnificent and over the top Hearst Castle in San Simeon, CA. Hearst and Davies were publicly a couple for many years, as Hearst’s wife would not grant him a divorce. They had a child together, Patricia Van Cleeve Lake, also an actress. Both kept Lake’s true identity a secret for many years.

Upon Davies death in 1961 the property transferred to the man she married after Hearst passed away in 1951, Horace Brown (another well-known actor).

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Brown eventually sold the property in 1972 to the family that owned Trader Vic’s, a well-known restaurant chain. In 1996, the property was sold to a private family. The property was upgraded throughout the years to its present state today. The original structure still remains along with the upgraded portions of the home.

Los Angeles Times article, click HERE
Realtor.com story, click HERE
Yahoo Finance, HERE
New York Post Online/Page Six, HERE
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July 9, 2016

Economic update for the week ending July, 9, 2016

Employers add 287,000 new jobs in June – The Labor Department reported that U.S. employers added 287,000 net new jobs in June, easing fears of that job growth was faltering, after 3 months of lackluster growth. June marked the largest number of new jobs created since October 2015. The unemployment rate increased from 4.7% in May to 4.9% in June, as more workers entered the workforce. Another positive in the report was that wage growth, which has shown signs of improvement after many years of stagnation, was up 2.6% from one year ago.

Stocks up again this week – S&P and DOW approach record highs – Stocks surged yesterday following the release of a surprisingly strong jobs report. Over the past few months job gains have been very disappointing, suggesting that job growth was faltering. This report, the strongest gains since last October, eased some fears. Stocks have made up all their loses and more following the Brexit vote over the last two weeks. The Dow Jones Industrial Average closed the week at 18,146.75. up from 17,949.37 last Friday. The S&P 500 closed the week at 2,129.90 up from 2,102.95 last week. The NASDAQ closed the week at 4,956.76, up from last week’s close of 4,862.57.

Historically low Bond yields drop again this week – The 10 year U.S. Treasury bond yield closed the week at 1.37%, down from 1.46% last Friday. The 30-year U.S. Treasury bond closed at 2.11%, down slightly from 2.24% last week. Mortgage rates follow bond yields so this is great news for loan rates.

Mortgage rates at historic low levels – Mortgage rates fell again this week. The Freddie Mac Primary Mortgage Survey released on July 7, 2016 showed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 3.41%. The 15-year fixed average rate was 2.74%. The 5/1 ARM average rate was 2.68%.

Realtor.com chief economist predicts best summer for the housing market in a decade – Jonathan Smoke, chief economist for Realtor.com reported that following the strongest spring in 10 years, the residential real estate market should continue to see growth throughout the summer despite some growing economic headwinds. Through May, year to date home sales (that’s non-adjusted existing and new-home sales combined) are up 6 percent, over the last year, which is the best year since 2007, according to Smoke’s calculations using the NAR and Commerce Department data.

Have a great weekend!

July 8, 2016

Rodeo Realty's Calabasas agent Lisa Moriarity covers June edition of 'Inside the Hills'

Rodeo Realty’s Lisa Moriarity and her two sons are covering June’s edition of Inside the Hills. The Calabasas agent is featured on the front cover and throughout the publication, which focuses exclusively on the residents of Hidden Hills.

In the section titled ‘Meet your neighbors,’ the magazine talks about Moriarity and how she has built her twenty-five plus years successfully selling residential real estate with a refreshing straightforward approach.

“With her honesty she has been able to establish the trust with her clients time and again, and has been able to assist them in finding the perfect home for their families,” said Inside the Hills.

The magazine also mentions how Moriarity ‘s career started in real estate—how she represented some of the largest builders in southern California and how she transitioned to representing families seeking to purchase or sell homes throughout the Hidden Hills and the greater Calabasas area.

Moriarity’s two sons, Brandon and Austin, are also featured inside the magazine. Her first son Brandon, 27, has started his successful career in commercial real estate. Her second son Austin, 25, is currently pursuing a career in merchant services.

In a Q&A, Moriarity tells the magazine that developing new relationships through her job is the biggest reward.

“Because we work so closely towards a mutual goal, by the close of escrow I’ve made new friends that I will have for years to come,” said Moriarity.

The real estate agent also answers questions about her involvement in the community, her favorite areas, and the activities she enjoys. She also spoke about her love for animals and how she owns two horses, two goats, four chickens and one cat, which are also featured inside the publication.

“Being able to have these animals was one of the biggest reasons I came to Hidden Hills and has kept me here,” said Moriarity.

View the article below to read more on the feature:

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July 7, 2016

Rodeo Realty's Beverly Hills agents Jason Peteler and Ben Bacal list former home of Richard Pryor

A Sherwood Forest estate, once owned by American comedic legend Richard Pryor, has went on the market and is listed for sale at $2,999,000. Jason Peteler and Ben Bacal of Rodeo Realty Beverly Hills have the listing, which has headlined in The Hollywood Reporter, The Real Deal LA and Curbed LA.

The meticulously maintained 2.2-acre compound, referred to as the “Wrigley chewing gum estate” by American broadcast journalist Barbara Walters and Jet magazine, offers 9,000+ sqft. of resort living space.

The estate located on Parthenia Street has six buildings: a main house, a guest home, a pool house, a gym/professional dance studio, an office and a children’s playhouse. The property also comes with a 3-car garage and kennel. The main house has 4 bedrooms, 4 baths, a formal living and dining room, gourmet kitchen, breakfast nook, library, a family room with sunken bar, a billiard, game rooms, and a wine closet. The guesthouse includes a living room, two bathrooms, sauna, kitchen and a bedroom. The pool house offers his and her changing rooms with baths, full kitchen and a “man cave.”

Additional amenities include a 65’ pool with spa, waterfall and slide; a BBQ pavilion; children’s playground; tennis, tetherball and basketball courts; and putting green. Outdoors, gracing the magnificent private and gated property are abundant mature trees, orchards, gardens and patios.

Pryor purchased the Northridge “Sherwood Forest” home in 1974 and lived there for several years. In 1979, Walters of ABC-TV interviewed him at his property. An incident that occurred inside his home a year later is said to be the reason why Northridge and Parthenia Street were placed on the map—that and the Northridge earthquake, which happened 14 years later in 1994. The current main house was destroyed by the earthquake, but was rebuilt in the style of the original.

Aside from comedy, Pryor was also a television writer and movie actor, starring in films like Stir Crazy and Greased Lightning. In 1986 he was diagnosed with multiple sclerosis, but continued to perform for several more years. In 2005, he died of a heart attack.

For more information on the property, visit www.hiddensherwoodforestgem.com

For The Hollywood Reporter’s story, click HERE
The Real Deal LA, HERE
Curbed LA, HERE
YAHOO, click HERE

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July 7, 2016

Rodeo Realty's Sunset agent John Galich sells home of actress Annie Potts

Rodeo Realty’s John Galich is mentioned in the Los Angeles Times this week for selling the home of Annie Potts.

Galich helped the actress and her husband James Hayman part ways with their Tarzana hacienda, which sold for $3.875 million. The real estate agent is said to have represented both ends of the transaction.

The 1930s Spanish hacienda sits on nearly 1.5 acres of grounds and has a tennis court and two swimming pools. The home includes a kitchen, a family room, a formal living room, dining room, an office, six bedrooms and six bathrooms.

The home also comes with a guesthouse that includes a separate living room and en suite bedroom. Outdoors there’s a kitchen and dining area, fireplaces and a tree house with a zipline.

The LA Times reports that the couple bought the property in 2003 from television director and producer Robert Berlinger. Television, film and stage actor Robert Wagner is said to be another former resident.

Potts, who is appearing in the upcoming reboot of “Ghostbusters,” has television and film credits that include the “Toy Story” film franchise and two “Ghostbusters” films. Her husband, Hayman, has production and directorial credits that include television series such as “Ugly Betty” and “NCIS: New Orleans.”

To read the entire LA Times feature, click HERE

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July 2, 2016

Economic update for the month of June and week ending July 2

Stocks have a wild week and end the month higher in June – Stock markets were fairly stable in June until the last week when stocks fell sharply after The British people voted to leave the European Union. By Monday all markets had dropped significantly, but the markets rallied to end the month up making up all the losses in the last three days. The Dow Jones Industrial Average closed the month at 17,929.99, up from it’s close last month of 17,787.31 on May 31. The S&P 500 closed the month at 2,098.86, just slightly above 2,096.95 on May 31. The NASDAQ closed May 31 at 4,842.67, down from 4,948.05 at the end of May.

For the week ending July 2 – Stocks post best 4 day streak since February – The Dow Jones Industrial Average closed the week at 17,949.37, up significantly from 17,400.75 last Friday. The S&P 500 closed the week at 2,102.95, up from 2,037.41 last week. The NASDAQ closed the week at 4,862.57, also up from last week’s close of 4,707.98.

Bond yields fall to lowest levels in decades – The 10 year U.S. Treasury bond yield closed June at 1.49%, down significantly from 1.85% on May 31. The 30 year U.S. Treasury bond closed June 30 at 2.30%, down from 2.63% at the end of May. Mortgage rates follow bond rates so we watch bond rates carefully.

Bond yields drop again this week – The 10 year U.S. Treasury bond yield closed the week at 1.46%, down from 1.52% last Friday. The 30-year U.S. Treasury bond closed at 2.24%, down slightly from 2.42% last week.

Mortgage rates at historic low levels – The Freddie Mac Primary Mortgage Survey released on June 30, 2016 showed that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 3.48%. The 15-year fixed average rate was 2.78%. The 5/1 ARM average rate was 2.70%.

California’s unemployment rate dips to 5.2% – The Employment Development Department reported that California employers’s added 15,200 net new jobs in May. While the number of new jobs added was below what analysts expected, the unemployment rate fell from 5.3% in April to 5.2% in May. The unemployment rate in May 2015 was 6.4%, so being at 5.2% is a 1.2% drop year over year!

Federal Reserve leaves rates unchanged in June – Amid worries of slowing job growth, The Federal Open Market Committee declined to raise it’s interest rate target at this week’s two day meeting from 0.5%. Fed chairperson, Janet Yellen signaled late last year that there could be as many as 6 increases in 2016. As the labor market growth has slowed and economic growth no longer at last year’s levels, Fed officials are signaling that there may only be one or two increases in 2016.

California existing home sales and prices up in May – The California Association of Realtors reported that existing home sales in California totaled 410,190 in May on a seasonally adjusted annual rate. That is up 0.6% from April and down 3.2% from last May. Tight inventory has impacted the number of sales, as there was just a 3.4 month supply of homes on the market in May, down from 3.5 months in April. A 6-7 month supply is considered normal. The median price paid for a single family home in California rose to $518,760 in May from $509,590 in April.

Pending home sales rise in California – The California Association of Realtors reported on Thursday that statewide pending existing home sales rose 3.8% in May from May 2015. This was welcome news as year over year closed home sales dropped dropped in May on a year over year basis. They also reported that pending home sales in Southern California rose 5.6% on a year over year basis compared to May 2015. We look at pending sales to gage what closed sales will be a month or two later when they close.

U.S existing home sales hit their highest pace in over a decade – The National Association of Realtors reported that total existing home sales, which include single family homes, condos, town-homes, and co-ops, were up 4.5% in May from May 2015. The total number of sales on a annualized adjusted rate was 5.53 million homes in May 2016. May was the highest annual pace since February 2007 when sales hit 5.79 million.

U.S. Pending home sales lower in May – After three months gains in pending home sales, measured by homes that went under contract, The National Association of Realtors announced that pending home sales in May slipped 3.7% from April’s figures. Year over year pending sales were down 0.2% from last May. Tight inventory is thought to be the reason for sales being off. Pending sales which include resale, not new homes, include single family homes, condos, town houses, and co-ops.

The markets are all waiting for the monthly jobs report. They come out on the first Friday of every month, but not when Friday is the first of the month. Next Friday we will have June’s job figures.

Have a great 4th of July Holiday weekend!
Syd

July 1, 2016

Rodeo Realty's Beverly Hills agent Ben Bacal lists home previously inhabited by Brittany Murphy and Britney Spears

The Los Angeles home previously inhabited by superstars Brittany Murphy and Britney Spears is on the market for $18.4 million. Ben Bacal of Rodeo Realty Beverly Hills is one of the listing agents to the modern Hollywood Hills home that has recently been catching the media’s attention.

The home had made headlines on TMZ, US Weekly, the New York Post, The Huffington Post, Curbed LA, and several other sites and publications.

Located at 1895 Rising Glen Road — the gated home sits on 1.18 acres. Murphy bought the residence from Britney Spears in 2003.

The five bedroom, six bathroom property was recently completely renovated and features a home theater, massage room, wine cellar, infinity pool and an elevator to navigate the 9,400 sq. ft. property that’s 3 stories high. In addition, the home also includes a marbled entry, living spaces with walnut flooring and paneling, and home automation, as well as breathtaking views of the city.

Aside from being a former celebrity home, the property has also caught attention for its video–which features an Instagram famous corgi enjoying a lavish lifestyle inside the mansion. Watch the video below:

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To read the New York Post story, click HERE

TMZ – HERE

Curbed – HERE

The Huffington Post – HERE

Womanista – HERE

US Weekly – HERE

The Daily Mail UK – HERE

CELEBUZZ! – HERE

June 29, 2016

Calabasas home listed by Rodeo Realty's Ben Salem sold to San Francisco 49ers' Glenn Dorsey

Rodeo Realty’s Sherman Oaks agent Ben Salem was mentioned this week in the Los Angeles Times for having one of his listings sold to San Francisco 49ers’ Glenn Dorsey.

According to the LA Times, the defensive lineman bought a home in a gated Calabasas community for $2.7 million.

The Mediterranean-style house has five bedrooms and seven bathrooms in about 7,5000 square feet of living space. The two-story home comes with a modern kitchen, a family room with a wet bar, an office/den and three fireplaces across two floors.

Sliding doors open to a patio with an outdoor kitchen and a swimming pool with a raised spa and a waterfall feature.

The Kansas City Chiefs originally took the NFL football player 5th overall in the 2008 NFL Draft. Dorsey is said to be entering the final year of a two-year contract—a $6.1 million extension he signed in 2014.

To read more on this story, click HERE

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