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Rihanna's former Pacific Palisades home sold, four Rodeo Realty agents mentioned in LA Times

rihannasell

The Pacific Palisades home once occupied by singer-songwriter Rihanna has sold for $11,175,000. The property was featured in the LA Times for being one of the top sales that closed between November 27 – December 10. The home was listed by Rodeo Realty’s Ben Bacal, Jason Peteler, and David Ferrugio. Jordana Leigh, also of Rodeo Realty, represented the buyer.

The almost 11,000 square-foot estate has seven bedrooms, seven baths, two powder rooms, a luxurious kitchen, and a rooftop deck with a sprawling pool and flourishing views. The outdoors entertaining area also offers a 6,000 square-foot garden, and a barbeque and bar.

The luxurious mansion is behind a private, gated drive and boasts 14-foot ceilings, walls of glass and a master suite with a double-sided fireplace and a spa-like bath that overlooks the resort-style pool. The open floor plan encompasses a living and dining area, media and game rooms.

The singer, 28, moved into the home in 2012, but a relentless “Unapologetic” world tour kept her away from the place most of the time. She began renting out the home for $65,000 a month almost a year later. The home was eventually put on the market in March 2014.

To read the LA Times article, click HERE.

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Economic update for the week ending December 24, 2016

Stocks continued to climb this week – The DOW Jones Industrial Average closed the week at 19,933.81, up from last week’s close of 19,843.41. The S&P 500 ended the week at 2,263.79, up from its close of 2,258.07 last week. The NASDAQ closed the week at 5,462.69, up from last week’s close of 5,437.16.

U.S. Treasury Bond yields – The 10-year U.S. Treasury Bond closed the week yielding 2.55%, down from 2.60% last Friday. The 30-year Treasury Bond yield closed the week at 3.12%, down up 3.19% last week. Mortgage rates follow bond yields, so we watch treasury bonds closely.  

Mortgage rates continue to rise – The Freddie Mac Primary Mortgage Survey released on December 22, 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 4.30% The 15-year fixed average rate was 3.52%. The 5/1 ARM average rate was 3.32%. Rates are now about 3/4% higher than before the election 6 weeks ago. 

California adds 31,200 jobs in October- The California Employment Development Department reported that California employers added 31,200 net new jobs in October. The unemployment rate held steady at 5.5%. Los Angeles County added 38,900 jobs and the unemployment rate was 5.1%. in October. 

California home sales and prices higher than last November – The California Association of Realtors announced that November home sales totaled 442,320 homes on a seasonally adjusted annualized rate. That was up just 0.1% from October, yet up 17.7% from last November when new closing disclosure delayed closings. The unsold inventory index dropped again to a 3.1 month supply of homes on the market. That’s an all time low and down from a 4.2 month supply last November. November’s statewide median price was $501,710, up 4.9% from November 2015 when the median price was $478,140. 

Nationwide home sales highest since February 2007 – November existing home sales rose 0.7% from October’s level and were 15.4% higher than last November, according to The National Association of Realtors. The median price for an existing home in The U.S. was 6.8% higher than November 2015. That marked the 57th consecutive month with a year over year price gain. 

I wish you all a Merry Christmas, Happy Hanukkah, or any other holiday you are celebrating!   

Syd


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Syd's father Dr. Leibovitch calls on children and grand children to aid MEND

The president of Rodeo Realty, Syd Leibovitch’s father Dr. Leibovitch calls on his children and grand children to aid the well renowned MEND organization in providing poverty stricken families with gifts for their children.

MEND is a non profit organization that aids families with hardships.  MEND’s mission is to break the bonds of poverty by providing basic human needs and a pathway to self-reliance. If you would like any information on how you can help MEND a family, please visit www.mendpoverty.org.

 

The Leibovitchs

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Home listed by Rodeo Realty's Allyson Carter featured in Los Angeles Times

allyson-homeoftheday

Featured as one of Los Angeles Times’ ‘Home of the Day’ is a Southern Colonial listed by Rodeo Realty’s Allyson Carter.

The Toluca Lake home has eight bedrooms and eight bathrooms. Built in 1939, the two-story house is fronted by white columns and black shuttered windows.

Features include an updated kitchen, family room, billiard room, three indoor fireplaces, walk-in closets, balcony, swimming pool, spa, putting green, an outdoor deck and fire pit.

The property is listed for $2,995,000.

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

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