Rodeo Realty Journal March 2014

RODEO REALTY JOURNAL

local expertise, global presence.

March 2014

March

TABLE OF CONTENTS 1-6

Rodeo Realty Welcomes New Agents

7

Rodeo Realty Economic Report February 2014

8

Advanced Classes Schedule

9,10

Hot Properties

11,12

Hot Sales

13,14

Agent Appreciation Letters

15

Rodeo Realty Architectural Lecture Review

16

Rodeo Realty Upcoming Events

17,18

Rodeo Realty In The News

INDEX

1

RODEO REALTY NEW HIRES

RODEO REALTY

Welcomes You

Brian Stevens Rodeo Realty Brentwood Cell: (818) 266-1164 Email: brianstevens@rodeore.com Felice Goldstone Rodeo Realty Beverly Hills Cell: (310)259-0400 Email: gofelice@gmail.com

Safir Shamsi Rodeo Realty Beverly Hills Cell: (310)400-2046 Email: sshamsi@rodeore.com

Tonya Thomas Rodeo Realty Studio City cell: (818)588-6692 Email: realty.tonya@gmail.com

Thank you for the confidence you have entrusted in me and my team.

Welcome to the Rodeo Realty family -- Syd Leibovitch

RODEO REALTY NEW HIRES

RODEO REALTY

Welcomes You

Jacob Curry Rodeo Realty Beverly Hills Cell: (424) 325-8048 Email: jacobcurry@rodeore.com

Rob Banchich Rodeo Realty Sunset Strip Cell: (323)394-1174 Email: rob.banchich@rodeore.com

Cintia Holz Rodeo Realty Pacific Palisades Cell: (310) 745-0414 Email: cintia@rodeore.com

Maureen Steinberg Rodeo Realty Beverly Hills Cell: (310) 623-0506 Email: maureenreagent@gmail.com

Thank you for the confidence you have entrusted in me and my team.

Welcome to the Rodeo Realty family -- Syd Leibovitch

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RODEO REALTY NEW HIRES

RODEO REALTY

Welcomes You

Tiffini Cartozian Rodeo Realty Sunset Strip Cell: (858)213-9181 Email: tiffini@rodeore.com Bridget Stuart Rodeo Realty Pacific Palisades Phone: (310) 873-4100 Cell: (310) 909-6769 Email: bridget@rodeore.com Dawn Maze Rodeo Realty Brentwood Cell: (310)428-0111 Email: dm@dawnmaze.com

Sinnia Wellington Rodeo Realty Brentwood Cell: (310) 597-3485 Email: sinniawellington@gmail.com

Thank you for the confidence you have entrusted in me and my team.

Welcome to the Rodeo Realty family -- Syd Leibovitch

RODEO REALTY NEW HIRES

Maureen Krawczyk-Smith Rodeo Realty Beverly Hills Cell: (310)498-4806 Email: maureen.smith@rodeore.com

Gregory Corman Rodeo Realty Calabasas Cell: (818)929-5400 Email: gregorycorman@icloud.com www.YourRealEstateSpecialist.com Bella Kamen Rodeo Realty Woodland Hills Cell: (818)642-1115 Email: bbeka115@aol.com

Nicholas Lambert Rodeo Realty Studio City Phone: (818)761-7222 Email: nicholaslambert@rodeore.com

Thank you for the confidence you have entrusted in me and my team.

Welcome to the Rodeo Realty family -- Syd Leibovitch

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RODEO REALTY NEW HIRES Robert Schmalz Rodeo Realty Brentwood Cell: (310) 505-5571 Email: bob_schmalz@wlaregroup.com

Ashley Freeman Rodeo Realty Brentwood cell: (310) 487-2947 Email: ashley@dreamlightrealty.com

Jonathan Shelton Rodeo Realty Beverly Hills Cell: (310) 880-6806 Email: jpshelton@gmail.com

Stefano Militello Rodeo Realty Sherman Oaks Cell: (818) 263-7204 Email: stefanom@rodeore.com

Thank you for the confidence you have entrusted in me and my team.

Welcome to the Rodeo Realty family -- Syd Leibovitch

RODEO REALTY NEW HIRES Karl Davidowski Rodeo Realty Beverly Hills Cell: (310) 922-7728 Email: karldavidowski@rodeore.com

Stephanie Parenteau Rodeo Realty Brentwood Cell: (310) 744-5026 stephcp@stephanieparenteau.com Shane Marechal Rodeo Realty Studio City Cell: (818) 371-1489 Email: shanemarechal@rodeore.com

Angela Rhodes Rodeo Realty Pacific Palisades Cell: (310)702-4534 Email: rhodes.angela.j@gmail.com

Thank you for the confidence you have entrusted in me and my team.

Welcome to the Rodeo Realty family -- Syd Leibovitch

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FEBRUARY 2014 ECONOMIC WRAP-UP

Stocks: The Dow closed out the month at 16,321.90 up 3.97% from last month’s close of 15,698.85 and up 1.36% from last week’s close of 16,103.30.

The Nasdaq ended the month at 4,308.12 up 4.98% from last month’s close of 4,103.88 and up 1.05% from last week’s 4,263.41 close.

The S&P 500 ended the month at 1,859.45, up 4.31% from last month’s 1,782.59 close and up 1.13% from last week’s 1,838.63 close.

Interest Rates: Interest rates were up overall for the month. The Freddie Mac Weekly Primary Mortgage Market Survey showed that the 30-year-fixed rate rose to 4.37% and the 15-year-fixed was up to 3.39%. At the end of last month the 30-year fixed was 4.32% and the 15-year fixed was 3.40%. A year ago the 30-year fixed was at 3.51% and the 15-year was at 2.76%.

Unemployment: The unemployment rate in February rose 0.1% to 6.7% the same number it was in December. There were 175,000 jobs created in January.

Real Estate News: Data from the National Association of Realtors® showed that existing-home sales fell by -5.1% from December to January to a seasonally adjusted annual rate of 4.62 million. Home sales were also down -5.1% year over year. The current inventory supply rate is now 4.9 months, up from 4.6 months in December and 4.4 months a year ago. The median existing home price for all housing types nationwide in January was $188,900, up 10.7% from January 2013. The median time on market for all homes was 67 days in January and 31% of homes sold in January were on the market for less than a month. Existing-home sales in the West dropped -7.3% to a pace of 1.01 million in January, and are -13.7% below a year ago. The median price for the West was $273,500, up 14.6% from January 2013.

Low inventory continues to have a constraining effect on California home sales according to data from the California Association of Realtors®. Sales in January were up 0.3% from a revised 362,430 in December but were down -13.8% from a revised 421,780 in January 2013. Inventory at the higher end of the market, priced $1 million and higher did increase 11.1% from last year. The statewide median price of an existing, single-family detached home fell -6.2% from December’s revised median price of $438,090 to $410,990 in January. January’s price was 22.1% higher than the revised $336,650 recorded in January 2013. The available supply of existing, single-family detached homes for sale rose in January to 4.3 months, up from December’s Unsold Inventory Index of 3 months. In Los Angeles County alone, the median sold price of existing homes was down -3.7% in January from December’s $439,830 to $423,570 which is up 21.1% from January 2013’s $349,720 median price. Total sales were down- 21.2% month over month and down -13.3% from January 2013.

ADVANCED TRAINING CLASSES

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HOT PROPERTIES GOT A HOT PROPERTY with celebrity credentials?

Tell us about it: mediarelations@rodeore.com

Curbed Los Angeles recently showcased the listing for one of the most sought after homes in Santa Monica by famed self-taught architect John Byers and listed with Wendy and Shel Kirshner. The Spanish Colonial Revival was built for E.J. Carrillo in the 1920s and displays the hacienda-like features Byers favored for much of his adobe construction. This is a home for the ages with a beautiful three bay veranda, brick enclosed patio, and hand finished lath and plaster walls among its many architectural features. It is listed for $5.5 million.

Villa Fiona might be one of the most romantic estates in the city and it was recently chosen as a home of the week by NBC News and Zillow as well as HGTV’s Front Door blog. The property is located in Outpost Estates in the Hollywood Hills with picturesque views of Runyon Canyon and Hollywood. The home is appointed with custom made fixtures and a variety of materials imported from Italy. The entire structure is extensively painted with original works by florentine painter, and restorer of the Vatican, Antonio D’Atellis. It is listed for $8.395 million with Joe Babajian.

Jesse James Johnson has the listing for this Sherman Oaks charmer which was recently featured in Curbed LA. This sprawling ranch style estate is nestled on an oversized flat lot. Over 3600 square feet of living space, featuring four bedrooms, three bathrooms, with a beautiful master suite, showcasing a 250 year old antique Irish daybed. Updated kitchen has charming knotty pine cabinetry and new stainless steel appliances. It is listed for $1.449 million.

Ben Bacal has the listing for a desirable trophy property in the Bird streets area. The property was featured on Curbed LA and has received a lot of social media attention for its showcase infinity pool which is ringed with fountain jets and has amazing city views. The home also has a home theater, gym, upstairs and downstairs living rooms, and a master suite with a steam shower. It is listed for $25 million and is being sold fully furnished with top-of-the line appliances and the latest in designer furnishings.

HOT PROPERTIES

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The start of baseball season is bringing renewed interest in the Sherman Oaks home of Pete Rose. It was recently featured by TopTenRealEstateDeals.com. Sited on a quarter acre lot, the home consists of 4,719 square feet with six bedrooms and five baths. Also included are family room, formal dining, studyoffice, 3-car garage and gourmet kosher eat-in kitchen. The master bedroom has a large balcony overlooking the backyard pool and spa and the covered rear patio has an outdoor kitchen and bar for entertaining. It is listed for $2.15 million with Gloria Hicks.

A stunning Buff & Hensman post and beam home in the Cahuenga Pass with city light views, recently was featured on Curbed LA and on Curbed National. The home which was built in 1959, is perfectly sited on a promontory above a private drive and has walls of glass to make the most of the location.

The property underwent both a careful restoration and later addition that was drawn by the original firm. The 2,167-squarefoot house also has an atrium, hardwood floors, and beautiful woodwork throughout. It is listed for $2.295 million with John Galich and Dan Schott.

Josh Flagg has the listing for a home in Los Feliz which formerly belonged to Jason Priestley. This classic example of Los Angeles Spanish architecture is full of Art Deco flourishes including detailed tile work, wrought iron fixtures and stunning ceiling details that sweep you into a glamorous golden era (the home was built in 1930). The property is a mix of classic style with modern touches. Hardwood floors, custom hardware, a steam room, gym, French doors opening on to sun-drenched balconies, and an exquisite Deco movie theater worthy of a Hollywood premiere, all make this home as crushworthy as any teen idol. The home has lush canyon views and private yard with pool, spa and full kitchen. It is listed for $3.495 million.

Tom Otero has the listing for this Lake Hollywood compound which is being rented out by Adam Carolla, as reported by Trulia. The home features amazing views of downtown Hollywood, Lake Hollywood and the Valley. This is one of the first grand homes of Lake Hollywood built in 1928 and restored to its glory with arched doorways, leaded glass windows, hand-carved wood beams, Spanish-style chandeliers, tile floors and large courtyards for entertaining. The large pool has city and lake views. The home also features a custom-built large entertainment room, complete with a full bar and pool table, looking into the pool with glassview port-holes. It rents for $20,000 a month.

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HOT SALES

Joe Babajian and Judy Cycon have sold the Kent Kresa home in Beverly Hills. The property sold for $27.5 million and the transaction was covered by the LA Times Hot Property section.

Rodeo Realty agent Peter Maurice helped a client pick up a desirable property in the Hollywood Hills West area.

The LA Times Hot Property section reported the news that Venus Williams has sold her mid-century home for $1.7 million. The three-bedroom home was built in 1955 and has an updated kitchen.

Ben Bacal handled the transactions when Megan Ellison bought a new compound in the Hollywood Hills West area for $30 million. Thepurchase was covered by the LA Times and the Real Estalker among others.

HOT SALES

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Peter Maurice and Tregg Rustad sold the historic William Mead Estate in Los Feliz. The two-acre acre site was selected by Mead, the original developer of Los Feliz, to construct his trophy mansion and grounds.

Lonnie Mintz recently sold this private Solvang estate. The home is on over five acres of oak-studded hills and valleys. It has a 4,552-square-foot main house, a guest house and a saltwater infinity pool and spa. It was listed for $1.99 million.

Allyson Carter handled the transaction for Motley Crue guitarist Mick Mars when he sold his Malibu home.

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Appreciation Letters From Clients

Lonnie Mintz Lonnie is the best Realtor we have ever dealt with. I highly recommend him.

Not only is his knowledge of the market “right on”, but his main focus is making sure you are comfortable and satisfied with all aspects of the sale. We could call him any time and the only time he couldn’t answer his phone was when he was with another client. This was such a positive because when he is with you, you know you have his undivided attention. Lonnie is professional, courteous, quick to respond and all around a great guy. If you are looking for a realtor and have not found one yet, please give Lonnie a call and you won’t be disappointed.

--Peter Lonnie is highly professional, on time, educated, and utilizes his many connections to sell a house! We were so blessed to have him sell our home!! While we were still living in our home, Lonnie was able to make all showings personally and was sure to give us plenty of notice before a showing. He also provided items such as a professional photographer, professional brochures, and a termite inspection! We were so impressed with all he had to offer and at the close of our escrow can say Lonnie is a Realtor of integrity! Thank you Lonnie!

--Cami

Carmen Mormino Dear Carmen: First of all, Carmen, we want to thank you from the bottom of our hearts for everything. From start to finish, we could not have asked for a more positive house-hunting experience.

The timing by which you came into our lives was perfect, and it really made all the difference. At our first meeting you made it your mission to get us into a house by Christmas, in time to have our first Christmas tree; it was an idea near to our hearts, and boy did you deliver. Thank you for being such a good listener, and having a keen knack for knowing what we were looking for in a home. Your sense of humor makes the most shy house-hunter feel at ease. There was never any pressure, and we really appreciate your availability by phone, text, or in person whenever a new house popped onto our radar.

We are so grateful, and will happily recommend you to anyone we know who is looking for their dream house.

You were able to find and get us into the perfect home very quickly, but to be honest, we miss hanging out with you every weekend. Thank you for your friendship and your hard work, Carmen, you’re truly one-in-a-million.

Of course, you and the rest of the Mormino family are welcome in our home, anytime.

Sincerely, The Rennies

Appreciation Letters From Clients

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Carol Otero I just wanted to thank you for the excellent job you did in representing us in the sale of our home. Words can only begin to express our appreciation for all the time and valuable attention you gave to us during this process.

In our situation that process included not only the listing of our property but all the things that came before that. For over a year before we ever put a sign in the yard, you were there for us with suggestions that made our home more desirable. We followed your good advice and were rewarded with a home that showed very well when we listed it.

Upon listing our property, your advice on pricing and your extensive marketing of our property was top notch. You met every one of our concerns with a realistic appraisal of what we needed to do, but we never once felt pressured to do anything we did not feel comfortable with.

Our home sold in three weeks and closed in just over three weeks. The sale and closing of escrow was equally seamless because of your professionalism. This was not because everything went perfectly but it was because of how you handled the inevitable glitches that arise in nearly every transaction.

After escrow closed, you have continued to treat us as valued clients. I believe the experience we have enjoyed in having you as our representative in selling our home of 28 years, meets the highest level of experience and professionalism. You can be assured that I will strongly recommend you to anyone who is interested in selling their home in the future.

Thank you again for making the process of selling our home as comfortable as it has been.

Sincerely, Bruce and Mary Ann Bakke

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Rodeo Realty Architectural Lecture

Recently noted architectural lecturer Eleanor Schrader Schapa met with Rodeo Realty agents for an inspiring morning full of architectural history and information. While naysayers in other areas may say that Los Angeles lacks culture, the opposite is true especially when it comes to great architecture.

The architecture of Los Angeles reflect the city's role as home to many different cultures. There are two main periods that influence much of architectural style in the area. The first is of course the mission period. Missions were established in Southern California partly to keep others, including Russian fur traders, from making a land grab. The oldest standing house in Los Angeles is the Avila Adobe, built in 1818 and now open as a museum. The classic adobe walls are several feet thick. In 1850 Phineas Banning established the Port of Los Angeles. Like many new arrivals he brought the styles from the East Coast with him. His home, in Wilmington, California, is also now a museum and reflects the Greek Revival style that was popular at the time.

Los Angeles has attracted many different styles of buildings. Although there are some excellent examples of Victorian and Italianate architecture throughout the city, the style doesn't quite reflect how people in this area prefer to live, in larger open rooms with plenty of light and space. The restrictive nature of Victorian homes and the ornate syle of Beaux Arts led to the response that was the arts and Crafts movement. Arts and Crafts was a return to simplicity, to styles that were considered to be more organic and of the earth. Famed furniture maker Gustave Stickley espoused this view in his magazine, The Craftsman. Sears took the idea of Stickley's floor plans and designs and sold a variety of kits that contained everything necessary to build the home of your dreams.

The Art Deco period was also a time of the flowering of Los Angeles as the movie industry moved from New Jersey to Los Angeles. This time period saw a variety of styles, in particular the Spanish Revival with red tile roofs and thick adobe walls. Schapa pointed out two very interesting features about these homes. The first is that those red tiles that are often on the roofs of these homes actually get their curved shapes from clay being shaped over the workers' thighs. The second is that the particularly pointed yet wide arch seen in many of these homes including the Adamson House, is actually not a Gothic arch but is instead a donkey arch, named for a type of arch popular in Mexican architecture that gets its name from the room needed to pass a rider and donkey laden with packages through it.

Although we have a variety of styles here, from the cutesy charms of English Tudor, French Normandy and Storybook homes to the sleek lines of Streamline Moderne and International style, Southern California is probably most famous for its mid-century moderns. The Case Study homes including the Eames house and the Schulmanphotographed Stahl house represented the start of something amazing, a new view of home architecture for the post-war era. These angular beauties, with their minimalist lines and ample use of glass usher in the era of the Los Angeles lifestyle. Schapa touched upon the popularity of the ranch home as seen at the time both on television and in the pages of Sunset magazine. It was the age of the martini, the wide-bodied American car, the swimming pool, and the nuclear family.

Los Angeles uniquely seems to embrace all styles. As with food, culture, art, and more, we seem to have room enough for all of it. It's a major part of what makes this such a fascinating place to live and work. Schapa's lecture reminded all agents not just of the beauty of the homes they see every day but of the rich legacy they represent.

Rodeo Realty Coming Events April 23, 2014 Arclight Sherman Oaks 9:30AM annual legal meeting with our attorney.

E and O insurance carriers require these yearly April 24, 2014 AMC Century City 9:30AM annual legal meeting with our attorney.

E and O insurance carriers require these yearly May 24, 2014 Rodeo Realty Casino Night 7PM June 19, 2004 Rodeo Realty Summer Conference agenda to be announced

Look for the opening of our Pacific Palisades office coming soon!

Follow Rodeo Realty On Instagram Instagram is one of the fastest growing social networks. Because it is visually driven it is perfect for showcasing beautiful properties. Follow Rodeo Realty on Instagram: @RodeoRealty. We will follow you back on Instagram and repost, like, etc. If you are not on Instagram but want your property featured on the Rodeo Realty Instagram contact Deidre@rodeore.com with a photo and caption and she will post it for you. Remember you can also follow Rodeo Realty on: Facebook--facebook.com/rodeorealty Twitter--@rodeorealtyinc Pinterest--pinterest.com/rodeorealty

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Agents Named As Five Star Professionals

Rodeo Realty agents Craig White, Roger Perry, Lanard Prince, Ben Vayner, Michelle Hirsch, Ron Maman, Blayne Pacelli, Kristina Kaminski, and Stephen Walton were all honored as 2014 Los Angeles Five Star Professionals for their dedication to client service. Sissy Lee of L.A. Mortgage was also honored as a Five Star Mortgage Professional. The list was published in the Los Angeles Magazine March 2014 issue.

Five Star Professional conducts market-specific research to identify reputable and trustworthy service professionals. Research results undergo a thorough regulatory review, and qualifying individuals receive the Five Star award. The research methodology allows no more than 7% of professionals in each category to receive the award. All agents named in the program must receive a qualifying client satisfaction rating as well as meeting multiple other criteria including a favorable regulatory and complaint history review.

Rodeo Realty Encino agent Chelsea Robinson was featured in RISMedia discussing her strategy on using Facebook ads. As her business continues to grow she is including Facebook ads as part of her marketing budget. In the article she said in part: “If I buy a Facebook ad that has a reach of 500,000 people, it’s slowly building up brand recognition. I can specifically target my key audiences, and they see my name a little more often.”

The Wall Street Journal recently ran a story on the phenomenon of luxury home owners sharing their homes with tenants. The lead image of the story featured Rodeo Realty Calabasas agent Ron Tanzman, who rents a part of his 6,500-square-foot Mediterranean home in Calabasas to an attorney who pays rent and a portion of utilities. In the article, Ron highlights the benefits of the arrangement: “It’s a big house, so it’s kind of nice to have the company.”

Proving that Burbank is a horse town, Rodeo Realty Studio City agent and equestrian estates director Jay Geisenheimer was featured in an article in the California Horsetrader. In the article, Jay discusses the value of local real estate as well as the sense of neighborliness in the Burbank Rancho area. Jay says: “Although around half the Rancho is non-equestrian used properties, the presence of horses brings a country aura to the community. The Rancho has a small-town feeling. Residents know each other by their horses’ names and the camaraderie is tremendous.” Visit www.horsetrader.com p. 44 to view the article.

RODEO REALTY IN THE NEWS

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Congratulations to Anne Weaver of Rodeo Realty Northridge for running the Los Angeles Marathon! Anne ran to benefit CATS at Northridge hospital, Center for Assault Treatment services.

For their article on the current state of the market, the Los Angeles Times turned to Rodeo Realty President Syd Leibovitch to get his take on local real estate. He told the Times that he is enthusiastic about this year, especially as inventory concerns start to ease around the Southland. Syd predicts a busy spring noting that more homes have come on the market and some are selling well above asking price, noting that the demand influx is starting and “ it seems to be starting big time.”

Reuters recently ran a piece focusing on the value of patios to homeowners and Rodeo Realty agent Ben Salem was one of the experts they turned to. Ben pointed out that money spent on an outdoor patio doesn’t just provide enjoyment for the owners, it also adds value when it comes time to sell. As Ben told Reuters: “If the patio costs $12,000 to $20,000, you’ll probably get $40,000 back as long as it’s big enough to put some tables and chairs out there.”

Jon Lichterman and his listing of a Craftsman home in the Hollywood Hills East area were featured on HGTV’s Front Door in a story focusing on curb appeal for Craftsman style homes. The writer on the story contacted Jon because of the charming front porch of his listing which features two rocking chairs.

Get some great press? Share it with us at mediarelations@rodeore.com