Meet the team: Our Transaction Coordinator aka Document Ninja

This is our Transaction coordinator Wendy. She is a miracle worker behind the scenes. While I am in the field showing houses for sale in the Westside, Wendy is here holding down the fort. If you are buying or selling a house with us, Wendy will make sure all of your documents are in order for closing Escrow. She is positive, kind, diligent, and extremely intelligent. During Escrow there are hundreds of documents to review and sign. Whenever a client has a question or needs to sign a document Wendy will walk you through. So happy She is on my team!

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2619 Greenfield Ave West LA 90064

¬† ¬† ¬† Well it is Tuesday again, and you know what that means! Broker’s Caravan Day! New listings that have hit the market showcase for agents, like myself. Broker‚Äôs Caravan is essential so we can bring our buyer clients and spread the news of the hot new properties available.

      In Los Angeles alone, there are currently over 10,000 residential properties for sale. To beat the competition and get top dollar for your property, showcasing and advertising correctly is a must!

¬† ¬† ¬† Today was beautiful out- sunny and in the mid-70‚Äôs. I know what you are thinking, isn‚Äôt it usually sunny in Southern California? YES, however, it is mid-June and ‚ÄúJune Gloom‚ÄĚ was not in today’s forecast, clear skies all day! But unlike the stereotypical beachbum Californian, I’m breaking a sweat from walking up and down house stairs getting my real estate on ūüėČ ‚ÄúJune Gloom‚ÄĚ is a Southern Californian term that we use during the spring to summer transition that brings overcast skies.

      I headed to my office at Rodeo Realty and opened my the MLS Broker’s Caravan book, there were 8 properties in the Westside that I wanted to view because I felt they were the closest to what my buyers are looking for. I think it is wise and time conscientious to check out properties in person before having clients make the trip to the actual house.

      2619 Greenfield Ave was my favorite property I viewed, listed by Sterns & Lieb. T20170620_130153his contemporary masterpiece is situated on a peaceful neighborhood pocket in West LA. West LA is a small area just east of Santa Monica, south of Brentwood, and north of Mar Vista. This property was technically flipped (rebuilt to sell for another owner). It was purchased in 2015 for $700,000 during a foreclosure sale. The developers tore down the previous house and built a new beautiful dream home. 


¬† ¬† ¬† Starting with outside, they used mostly dry landscaping, cement, succulents that don’t need much water to live long. And they grow in so many different beautiful colors. I like what they did here- contrasting greens and shades of orange.

20170620_130141I love the large windows throughout the house. Windows are one of the most expensive features in a house (believe it or not), really adding to the luxury feel. I like how the windows are ceiling-height in the parts of the house where the natural light will be appreciated most (the dining and kitchen area, family room, and master bedroom).

Of course there are many developers doing the same thing, following the same trends, and end up having the same cookie cutter mini-mansions all over LA. But this one has a lot of unique touches, I believe it is because this building group is primarily out of the South bay.

20170620_124829With a mix of stone, epai wood, large windows, straight contemporary cuts, and flat roof tops, the developers made this into a modern house with a touch of hominess by way of natural material shining through.

My favorite part of the house was the open outdoor-indoor family room. Large glass windows perpendicularly enclosed the sitting arrangement the with just a click of a button. You can cook on the grill, make way to the kitchen, watch the football game, or season 7 of Game of Thrones, kick around a soccer ball, and still feel cozy and secure in your home.

Listed for $2,299,000, this 5 bedroom, 4 bath house with over 2,000 square feet could be yours.

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Is this the house you have been looking for? Let us know!

Love your home, love your life.

 

 

 

 

 

 

-Leah Loves Homes, Rodeo Realty

 

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Economic update for week ending February 4, 2017

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 РThe 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.

Economic update

 

Leah Loves Homes Presents Brokers Caravan!

Hello Home Lovers!

Welcome to 2017! The Leah Loves Homes Team is beyond excited to kickstart this New Year with a bang. We are putting our all into helping our fellow home lovers find the perfect home for them.

This year we have decided to make finding a home you will love immensely easier for you by filming our caravan experience. That’s right! Every week we are going to give you virtual tours of homes on the market in West LA! This way you can fall in love with your future home, first over the computer, then in person, and then every single day when you wake up in your perfect dream home.

This week we saw three beautiful and diverse properties.

We started off with a lush open property in Brentwood. The entrance is lined with stone and greenery, setting up for the zen and open ambience of the home. The inside looks like the inside of a greenery, with glass walls and a section of glass ceiling one can’t help but feel as if they are sitting in a greenery. Not to mention the spanish style fireplace, the living room is a perfect area to spend the night with friends. When outside, you are greeted with your own personal forest. Under the deck there is a pathway where one can go to escape the city. Cobblestone pathways, a small river, and greenery; this property is a haven for people who love living in LA but need an escape. This gorgeous 4 bed, 4 bath is listed at $3,495,000.

After seeing this property in Brentwood, we ventured to sunny Santa Monica. The closer we got to the property, I could not help but feel a sense of calmness wash over me. As someone who loves the beach, there was nothing better than coming down the hill and seeing the view of the ocean. This property is a toes in the sand, beach lovers paradise. With frosted glass windows surrounding the property, you get to look out and see the beach everyday while also keeping a semblance of privacy. The house is built upward, so once you climb up all the stairs you are allotted a beautiful balcony that shows a view of the beach as well as the Santa Monica Pier in a distance. With 3 beds and 4 baths this $5,995,000 listing is any beach lover’s dream come true!

The last property we visited was 2 bed, 2 bath loft styled property in Marina Del Rey. With high 20 ft ceilings and glass windows that lighten up the home, this home is perfect for people who love contemporary styled homes. The living area is perfect for hosting parties, open up the backyard doors and you can host parties during any season. This $1,379,000 property also comes with a separate pool, bar-be-que, and gym area. This open style home is in the Art District, near both the Marina Market and the beach. Minutes away from Venice, this area is perfect for people who love the ocean but don’t want to deal with crazy Venice/ Santa Monica traffic.

Take a look at the video below to see more of the properties, and make sure to look out for next week’s blog post showcasing a whole new set of homes.

 

Economic update December 23, 2016

Economic update

Federal Reserve raises its key rate 1/4% – The Fed announced Wednesday that it was raising its Discount and Federal Funds rate by 1/4%. ¬†This was just the second increase¬†in 10 years. The first was done last December with an announcement to expect two more increases in 2016. ¬†The first increase did not happen as growth slowed during the first half of the year. ¬†GDP growth was just 1.1% for the first 6 months of 2016. The third quarter showed far more growth as the GDP rebounded to 3% growth and hiring picked back up. ¬†The Fed mentioned these as part of their decision for Wednesday’s increase. ¬†They also stated that they expected to make three more increases in 2017. ¬†Experts had expected that number to be two increases. The market was expecting the increase, and an announcement of two rate hikes expected next year, not three. That moved the markets down slightly. When The Fed increases rates those increases tend to affect short term rates more than long term rates. That was the case this week as short term treasury rates increased while the 30 year barely moved up. Equity lines tied to prime moved up 1/4% following the announcement. ARM mortgages will also move up. Shorter term hybrids like 3, and 5 year fixed moved up while the 30 year fixed barely moved.

Stocks end week just slightly below record highs – All indexes hit record highs on Tuesday before being dragged down a bit after The Fed announced a 1/4% rate hike on Wednesday.¬†The rate hike was largely expected so stocks didn’t lose much following the announcement.¬†The¬†¬†DOW Jones Industrial Average closed the week at 19,843.41, up¬†from last week’s close of 19,756.85.¬†¬†The S&P 500 ended the week at 2,258.07, unchanged¬†from its close of 2,259.53 last week.¬†¬†The¬†NASDAQ closed the week at 5,437.16, slightly off from¬†last week’s close of 5,444.50.

U.S. Treasury Bond yields higher ¬†–¬†The 10-year U.S. Treasury Bond closed the week yielding 2.60%, up¬†from 2.47% last Friday.¬†The 30-year Treasury Bond yield closed the week at 3.19%, up¬†from 3.16% last week.¬†Mortgage rates follow bond yields, so we watch treasury¬†¬†bonds closely.

Mortgage rates ¬†continue to inch up –¬†The¬†Freddie Mac Primary Mortgage Survey¬†released on December 15, 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 4.16%¬†The¬†15-year fixed average rate was 3.37%.¬†The¬†5/1 ARM average rate was 3.19%. Rates rose Thursday and¬†Friday¬†so next week’s rates will be slightly higher.¬†

 

 

 

 

Economic Update November 30- December 3, 2016

Economic update for the month ending November 30, 2016 and the week ending December 3, 2016

DOW, S&P, and NASDAQ all ended November at record highs –¬†Markets are up 4-6% since the election. ¬†Investors have been bullish on prospects of higher corporate profits in the future based on hopes that The Trump Administration will deliver on promises of tax cuts, loosening of regulation, and higher infrastructure spending. The highest gains have been financials which are up 10% on hopes of changes to regulations put in place after the financial system collapse. Coal mining and energy stocks have faired well, also on hopes of less regulation. ¬†Defense stocks have risen on hopes of more spending. ¬†Construction and construction related companies that would be involved in infrastructure also saw gains. ¬†Clean energy stocks have not done as well, perhaps on fears of more competition from oil, gas and coal. Unrelated to the election, oil prices also rose to $49 a barrel from about $46 at the end of the month as OPEC reached an agreement to cut back production.¬†The¬†DOW Jones Industrial Average¬†closed the month at¬†19,128.58, up over 1,000 points¬†from¬†18,142.42 on¬†October 31.¬†¬†¬†¬†The¬†S&P 500¬†closed the month of October at¬†2,198.31,¬†up from October’s close of 2,126.15. ¬†The¬†NASDAQ¬†ended the month at¬†5,323.68, up¬†from 5,189.13 at the end of ¬†October. ¬†On December 2, 2016¬†markets closed the week as follows:¬†DOW 19,170.42, S&P 2,191.95, NASDAQ 5,255.65.¬†

U.S. Treasury Bond yields jump in November ¬†–¬†Bond yields shot up after the election on expectations that tax cuts, higher defense spending, and an infrastructure program would increase ¬†U.S. deficit spending and debt, which is already out of control.¬†¬†The 10-year U.S. Treasury Bond closed the month yielding 2.37%, up¬†from 1.84% at the end of October.¬†¬†¬†The 30-year Treasury Bond yield was 3.02% on November 30, ¬†up from 2.58% at the end of October. ¬†Mortgage rates follow bond yields, so we watch treasury¬†¬†bonds closely. ¬†Treasury yields closed the week on December 2 with the¬†10-year yielding ¬†2.40%,¬†and the¬†30-year yielding 3.08%.

Mortgage rates rise about 1/2% in November   Р Rates soared following the election, rising almost 1/2 point in 10 days.  The Freddie Mac Primary Mortgage Survey released on December 1, 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 4.08%, up from 3.47% on the October 27, 2016 survey.  The 15-year fixed average rate was 3.34%, up from 2.78% on October 27. The 5/1 ARM average rate was 3.15%, up from 2.84% on October 27. 

U.S. employers’ add 178,000 new jobs in November – Unemployment rate drops to 4.6% – The¬†Bureau of Labor Statistics¬†reported that¬†the¬†U.S.¬†economy¬†added¬†178,000 net new jobs in October¬†and the unemployment¬†rate dropped¬†from ¬†4.9¬†percent in October to¬†4.6% in November, its lowest level since August 2007.¬†¬†¬†Wages¬†in November were¬†2.5%¬†percent higher than last November, ¬†according to the report.

California employers add 31,200 new jobs in October ¬†– The Employment Development Department¬†reported that California¬†added 31,200 net new jobs¬†in October. The state’s¬†unemployment rate¬†held steady at¬†5.5%, as more workers entered the workforce. While this is higher than the national rate which was 4.9% in October it’s well below California’s 12.2% unemployment rate at its peak in 2010. ¬†Employers in Los Angeles County increased their payrolls by 19,400 employees. The¬†unemployment rate in Los Angeles County¬†actually increased slightly to¬†5.1% in October from 5% in September¬†as more workers began the job search. Year over year the unemployment rate is ¬†down a full percent from 6.1% from October 2015. California runs a few weeks behind. We won’t have November’s figures until around the¬†20th of December.¬†

U.S. Economy grows at fastest pace in 2 years in the third quarter of 2016 -The Commerce Department reported that the Total economic output of the economy, also known as Gross Domestic Product  grew 3.2% in the third quarter.  That was faster in the third quarter than previously estimated, and at its fasted pace in two years.  This rebound was welcome news after a disappointing first half of the year.

California existing home sales and prices increase in October – The California Association of Realtors¬†released its October ¬†home sales report. ¬†The number of existing homes sold in October totaled 442,970 on a seasonally adjusted annualized rate. That represented an¬†increase of 4.1% from September and a year over year increase of 8% from last October’s figures.¬†The statewide¬†median price¬†was $513,520,¬†up 1.2% from September and up 7.3% from last October¬†when the median price was $478,780. ¬†Inventorycontinues to be near record lows as the unsold inventory index¬†slipped to a 3.4 month supply of homes listed¬†in October from a 3.5 month supply in September.

California pending home sales increase in October –¬†The number of new home contracts on re-sale homes in California¬†increased 1.5% in October from last October’s¬†numbers according to data released by The California Association of Realtors. On a monthly basis pending contracts were down 6.7% from September. ¬†The¬†Southern California¬†region fared even better with October sales¬†up 6.8% from last October and up 2.4% from September.¬†The association uses year over year rather then month over comparisons to account for seasonal changes in sales numbers. Typically sales begin to slow heading into the holidays which makes comparing same month figures more accurate. Pending home sales figures are useful because they give an indication of what closed sales figures will be in 30 to 60 days when those sales close escrow.

U.S. existing home sales hit the highest level since February 2007 – The National Association of Realtors¬†reported that sales of existing homes increased 2% in October to an annual rate of 5.6 million homes, the¬†highest level since February 2007.¬†¬†Existing home sales are closed re-sales of single family detached homes, town homes, condominiums, and co-ops.¬†Year over year the number of sales are up 5.9% from last October’s levels.¬†Prices were also up nationwide as the¬†median price this October was 6% higher than October 2015. Pending home sales were also higher nationally increasing 2% year over year.¬†

What does the recent election mean for the Housing Market?


The Presidential Election has a big impact on the housing market!

Please note, this article is to bring information to those interested in the housing market and not intended by any means to pick sides politically.

With the outcome of the recent election, there has been a lot of stir around where the housing market will go. In history, we have seen, time and time again, that the housing market soars shortly after election. But with housing already reaching unsustainable levels, how will we offset t
his? Will Trump need to boost jobs and the economy? America has barely staggered out of recession, so Trump could come out on top just because of timing.

Could Trump be the champion of affordable housing? During his acceptance speech early in the morning on Nov. 9 in New York, Trump promised dramatic new investments in infrastructure, which could boost the available supply of housing.

Trump housingDuring this election, one part of the main struggles of the middle class was the inability to find good, affordable housing. The housing market plays hand in hand with the economy and jobs.  Right now, first time home buyers are struggling to find any home that is in their price range. In Los Angeles alone, the market went from average $404,200 in 2009 (bottom of the market) to a median price of $570,500 by 2016 (laalmanac.com). These prices mean that a household needs to earn $96,513 a year, according to HSH.com, to afford a median-priced home.

If you did not tune into the last crash in 2008, it was largely caused by a lack of check and balances in the lending industry. Lenders were selling subprime loans to unqualified buyers. With everyone and then some being able to obtain a home loan, demand skyrocketed, driving prices up. This was depicted in the Big Short (a must-see great explanation of the 2008 housing crash). Since the crash, the lending industry is tightly regulated now, if anything, it is hard to get a loan with anything less than a 720 credit score! I’ve seen numerous well-qualified buyers with large sums in their bank, excellent credit scores, but a high debt-to-income ratio holding them back. These buyers had to go through a number of different banks to close on their homes. So what would drive the next crash if the lending institutions are so regulated?

housing-marketA housing crash is caused¬†when housing prices reach unsustainable¬†levels, leading to a decline. These unsustainable levels have been occurring in major cities throughout the country. Some areas have surpassed their peaks,¬†‚ÄĒplaces like the San Gabriel Valley, flooded with foreign cash investors primarily from China, or the Westside, which has welcomed a surge of high-paid tech workers in the past couple years, getting the name ‚ÄúSilicone Beach.‚ÄĚ Other rich areas have seen nice, healthy gains too, while poor areas have actually lost housing value. Middle-class areas have¬†been stagnant or fallen just a bit. That all tracks with how the rebound from the recession has gone in general: the rich have come back as strong as ever, while the rest of the US still struggles.

In the last few years we have seen China leading the Los Angeles foreign all-cash investors, beating out the most well-qualified buyers using home loans. Chinese investors pumped $59 billion into the U.S. from 2000 through December, buying or creating more than 1,900 companies that employ 90,000 workers. Employment tripled in 2015 from 2012. In 2015, China invested $1.1. billion into California real estate, and $3 billion in New York real estate (Rhodium Group’s China Investment Monitor). It makes sense that foreign investors started buying out more real estate. In 2011, home values were at all time lows, and there was room for exponential growth! U.S. real estate was one of China’s top investments, just below Telecom and Technology. dollar

Early this year 2016, China devalued the Yuan Renminbi and the government tightened restrictions on moving money over to the U.S. This could be the reason for the slower growth this year, adding to the fact that there is just not as much room for growth in these high demand city areas now. During his campaign, Trump criticized the U.S. as being on the losing end of its dealings with China, particularly on trade, the flow of money has significant benefits, the study found. 

So with global economy changing, and the new president, what will our future real estate look like?

Rick Sharga (Ten-X, real estate auction site) said the key to the housing market fully recovering depends on more jobs and better wages driving household formation and homeownership, which Trump promises to improve. ‚ÄúIf President Trump is half as successful as his plans call for, the housing market will soar,‚ÄĚ he said.

‚ÄúWe are going to fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals,‚ÄĚ Trump told his supporters. ‚ÄúWe‚Äôre going to rebuild our infrastructure and we will put millions of our people to work as we rebuild it,‚ÄĚ Trump said.
All in all, if Trump can create more jobs for the middle class, there could be a huge surge in the housing market. Nearly every millennial since 2008, has struggled to find a good paying job straight out of college, this is no news, research shows that millennials are choosing not to have children, and if so, not until their mid-30’s. Most research shows the reason for not starting a family for millennials is because they can barely afford life on their own. This is in direct correlation with housing prices and jobs available. Pew Research Center came out with a report in May 2016 that said for the first time since 1880, adults aged 18-34 are more likely to live with a parent than any other arrangement. 19 percent of 25-34 year olds in metropolitan areas have been living at home. This is the largest rate since 1940.

Will the American dream of everyone owning their own home find it’s way back in 2017? With primary mortgage rates staying steady between 3-5%, the option is more than available. Only time will tell!


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Don’t forget: Love your home. Love your life.

Halloween Events in Los Angeles

halloween
Looking for some fun this Halloween? Check out these 3 fun events in Los Angeles.

1. Dia de los Muertos @ Hollywood Forever Cemetery (pictured)
This fun family event on October 29th features yummy Mexican food and live performances.
2. Guillermo del Toro @ LACMA
Running until Nov. 27th, this exhibit is perfect to get you in the spooky mood for Halloween.
3.Halloween Carnaval @ WeHo
For a fun day of event, the WeHo Halloween Carnaval will not disappoint. With past appearances from Rihanna and Boy George.

 

Brentwood Open House this Sunday

Come join us for the first open house for this beautiful Brentwood condo! (7/17) 2-5 p.m.

11820 Mayfield Ave #105, Brentwood, 90049

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Brentwood condo for sale
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Brentwood condo for sale!

 

 

 

 

 

 

 

Amazing 3 bedroom 2 bath Brentwood condo for sale! Spacious, bright, and open floor plan. This condo offers inside laundry, wood flooring, updated appliances, wine cooler, a bright Spanish-influenced kitchen and dining area, central HVAC throughout. The master bedroom is a dream, very large, open, and bright, with lots of closet space, and a soaking tub. Great building in the heart of Brentwood, with low HOA dues. 2 Car tandem parking in the garage with Extra storage!! Desirable area, North of Wilshire. This is a MUST SEE, jump-on-it opportunity for a buyer looking for a beautiful new home!