Sunday, May 17, 2015

HOME SALES REBOUNDING, EXPECTED TO FINISH THE YEAR AT THEIR HIGHEST PACE SINCE 2006


According to the National Association of Realtors, existing-home sales are expected to finish the year at their highest pace since 2006, but accelerating price growth and rising mortgage rates have the potential to slow sales in the coming months.


Lawrence Yun, chief economist of the National Association of Realtors, said existing-home sales are measurably higher than a year ago, and strengthened in March as more buyers entered the market as the spring buying season got underway.
“Sustained job growth and interest rates below 4 percent have been the catalyst behind the improvement in sales,” said Yun, who expects home sales to rebound and steadily improve, ending up at a pace around 5.30 million (the highest since 2006) this year and 5.5 million in 2016. 
As the buying season heats up, low inventory of homes for sale needs to increase measurably to meet the pent-up demand for buying.  
Referring to NAR’s recent study looking at wealth inequality, Yun said rising home prices in many metro areas have helped homeowners build housing wealth in recent years, but the continued decline in homeownership means the gains are going to fewer people and leading to worsening inequality. “Household net worth is at an all-time high, but the gains are mostly going to wealthier households, who in turn have helped propel vacation home sales to record levels,” he said.
Yun expects the U.S to start entering a rising interest rate environment, with the Federal Reserve increasing short-term rates in September and mortgage interest rates gradually moving upward over the next year, hovering around 4 percent in 2015 and edging-up past 5 percent in 2016.
- See more at: http://www.rodeore.com/despite-affordability-concerns-existing-home-sales-in-u-s-rebounding/#sthash.Wbvqtnli.CSypdkKw.dpuf
CONTACT:
Elaine Mallon,Broker Associate
Rodeo Realty Fine Estates
310-721-7121
elaine@elainemallon.com
www.elainemallon.com

REAL ESTATE AGENT & LOCAL EXPERT, serving Coastal Los Angeles County, including:  Redondo Beach, Manhattan Beach, Hermosa Beach, Palos Verdes Peninsula, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates

MANHATTAN BEACH HAD THE HIGHEST NUMBER OF CLOSED SALES OF HOMES IN THE $1-MILLION-PLUS RANGE IN 2014

Excerpts from  RealtorMag:
Luxury Home Hotspots

According to the National Association of Realtors, MANHATTAN BEACH had the highest number of closed sales of homes in the $1-million-plus range from January to December 2014.

Wealthy buyers typically look to leisure-rich hotspots such as Hawaii, Florida and Southern California beach cities for second homes, which they often buy into once they retire. That's all changing.  

"Younger home buyers are not waiting until they retire to live where they want to.  Instead, high-net-worth individuals are showing more mobility and flocking to areas once pegged as resort or second-home markets, at a time when advances in technology, transportation, and communication are enabling a 'live anywhere' working-age population," per the Luxury Market Report, Spring 2015.
According to the National Association of Realtors, the following ZIP codes had the highest number of closed sales of homes in the $1-million-plus range from January 2014 to December 2014:
  1. 90266: Manhattan Beach, Calif. (425 sales)
  2. 84060: Park City, Utah (397 sales)
  3. 94010: Burlingame, Calif. (385 sales)
  4. 92037: La Jolla, Calif. (371 sales)
  5. 94025: Menlo Park, Calif. (359 sales)
Source: “Luxury Market Report, Spring 2015"


FOR EXCEPTIONAL REAL ESTATE SERVICE, CONTACT:
Elaine Mallon,CRS, CIAS
Broker Associate -- Luxury Real Estate
Rodeo Realty
310-721-7121
elaine@elainemallon.com
www.elainemallon.com

REAL ESTATE AGENT & LOCAL EXPERT, serving Coastal Los Angeles County, including:  Hollywood Riviera, Redondo Beach, Manhattan Beach, Hermosa Beach, Palos Verdes Peninsula, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates and the San Pedro Peninsula.

Friday, May 15, 2015

NEW / EXISTING CLIENT CASTING CALL: JOIN ME ON HGTV'S "HOUSE HUNTERS RENOVATION"


Calling all of my HOME BUYERS -- or someone new you may like to refer to me -- to be featured with me on an episode of HGTV's "House Hunters Renovation." 



BONUS:  HGTV will kick in a budget of $25,000 toward the renovation project, and pay for a professional Interior Designer of your choice.


A crew will follow us on the search for a new home, followed by the closing and renovation process, including budgeting, design and construction. Please contact me if you are interested or can refer a new client with an eye for renovations!

Contact:
Elaine Mallon, Broker Associate -- Luxury Real Estate
Rodeo Realty
310-721-7121
elaine@elainemallon.com
www.elainemallon.com

REAL ESTATE AGENT & LOCAL EXPERT, serving Coastal Los Angeles County, including:  Redondo Beach, Manhattan Beach, Hermosa Beach, Palos Verdes Peninsula, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates.

Wednesday, May 13, 2015

THREE WAYS TO BUY A HOME WITHOUT (YET) SELLING YOUR CURRENT RESIDENCE



Three Ways to Buy a Home WITHOUT Selling Your Current Residence

DILEMMA:  You've found the perfect new home, but don't yet have your current property on the market -- and you need to sell in order to buy the upleg.  Rather than losing out on the opportunity to act fast, there are three options that may enable you to qualify for a new mortgage loan before getting your property on the market or selling:

 SOLUTIONS: 

 1.      Convert Your Primary Residence to a Rental Property – Some lenders will use 75% of the rental income to offset the mortgage payment, so you don’t have to sell your current residence to qualify for the new purchase loan.  No need for lengthy lease agreement previously in place.

2.      Use the Equity in Your Residence for the Down Payment – If you have plenty of equity in your current residence, there are lenders who will give you a loan secured by your current residence for the down payment on your new home.

3.      Cross collateralize – If you own several properties, select lenders will use the equity in those properties for the down payment on your new home.

Besides being able to act on the right property fast, these scenarios help make your offer non-contingent on the sale of your current residence -- an enormous benefit in strategically presenting the strongest, cleanest, most competitive offer possible.   Think outside the box, and let me help you get the house!

FOR EXCEPTIONAL REAL ESTATE SERVICE, CONTACT:
Elaine Mallon,CRS, CIAS

Broker Associate -- Luxury Real Estate
Rodeo Realty
310-721-7121

elaine@elainemallon.com
www.elainemallon.com

REAL ESTATE AGENT & LOCAL EXPERT, serving Coastal Los Angeles County, including:  Hollywood Riviera, Redondo Beach, Manhattan Beach, Hermosa Beach, Palos Verdes Peninsula, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates and the San Pedro Peninsula.





Tuesday, May 12, 2015

ELAINE MALLON MOBILE SEARCH -- FREE OPEN HOUSE & PROPERTY SEARCH TOOL FOR HOME BUYERS!

FREE: Powerful Home-Search app for your mobile phone

Elaine Mallon Mobile Search is the ultimate field tool for home buyers!   By utilizing any phones' location technology, my FREE app allows users to get search properties for sale, open houses and surrounding community information.  To get the useful app, simply either:


1)      Text RODEO2P to the number 87778.
2)      Go directly to:  http://app.rodeore.com/RODEO2P


For exceptional real estate service,  contact:

ELAINE  MALLON, CRS, CIAS
Broker Associate -- Luxury Real Estate
Rodeo Realty
310.721.7121
elaine@elainemallon.com

REAL ESTATE AGENT & LOCAL EXPERT, serving Coastal Los Angeles County, including:  Hollywood Riviera, Redondo Beach, Manhattan Beach, Hermosa Beach, Palos Verdes Peninsula, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, San Pedro Peninsula and Westside.

Wednesday, May 6, 2015

ARTICLE: CALIFORNIA BUSINESS JOURNAL

California Business Journal


Rodeo Realty Welcomes Elaine Mallon to its Prestigious Brokerage, Establishes Presence in the Palos Verdes Peninsula / South Bay Area

PALOS VERDES, Calif., April 23, 2015 /PRNewswire/ -- Rodeo Realty Fine Estates is pleased to welcome Elaine Mallon to its prestigious brokerage.  Elaine, a Broker who specializes in the sale & acquisition of luxury real estate, will extend the company's reach for its discerning clientele down into the Palos Verdes Peninsula & South Bay Beach Cities.
ELAINE MALLON, Broker Associate, Rodeo Realty - Fine Estates, Palos Verdes Peninsula / Beach Cities www.elainemallon.com
"Elaine is a natural fit for Rodeo Realty and the clients we serve," said Syd Leibovitch, Founder & CEO.  "She brings a high-level of expertise and a down-to-earth, personal touch to her work.  Her extraordinary professionalism and passion for the South Bay & Palos Verdes area, makes her the perfect bridge for us between two very affluent worlds, from Beverly Hills to the Palos Verdes Peninsula."
Elaine is a Certified Residential Specialist - the highest designation awarded in residential real estate sales - which includes only 3% of all REALTORS® in the nation.  She's also a Certified Negotiator; Certified Investor Agent Specialist; Certified Relocation Specialist; and Certified Palos Verdes Area Specialist.  
Among her specialties:  Coastal luxury homes, vacation properties, and investment properties.  Discretion and expertise with high-profile clients, particularly those from the entertainment, music and sports industries.
Elaine was previously a top-producer for Sotheby's International Realty, and for Coldwell Banker Residential Brokerage's Manhattan Beach and Palos Verdes / Beach Cities branch offices for over a decade.
Elaine began her career in entertainment publicity, where she was an award-winning publicist for MGM/UA TV, CBS and Fox Broadcasting.  She rose to Vice President, Media & Corporate Relations for 20th Century Fox Television and Twentieth Television.
Headquartered in Beverly Hills, Rodeo Realty is one of the most renowned independent real estate brokerages in the nation, and continues to dominate the California market as the #1 single-owned independent brokerage.  It is ranked #2 among all brokerages in L.A. County.  With annual sales exceeding $4.264 billion last year and a powerful global presence, Rodeo outperformed other companies like Berkshire Hathaway, Sotheby's Int'l Realty, Re/Max Estate Properties, Hilton & Hyland, Partner's Trust, Shorewood Realty and The Agency.  Yet, unlike the huge national firms, Rodeo Realty maintains the friendly, hands-on quality of a neighborhood Realtor.
Now serving:  Palos Verdes EstatesRancho Palos VerdesRolling HillsRolling Hills EstatesRedondo BeachHermosa Beach & Manhattan Beach. www.elainemallon.com. (CA BRE#01325954)
"Local Expertise.  Global Presence." Palos Verdes Peninsula / Beach Cities www.elainemallon.com

SOURCE Rodeo Realty Fine Estates
Copyright 2015 PR Newswire

|    Next Story: College of Marin Announces Partnership with Tesla Motors

Wednesday, April 15, 2015

SOLD! 7140 E. MEZZANINE WAY, LONG BEACH -- $661,500

Designed by famed architect Cliff May -- father of the iconic mid-century modern California Ranch House of the 1950s -- this zen-inspired home was featured on HGTV’s “Carter Can” and received over $65,000 in eco-friendly/designer upgrades, while maintaining the character and integrity of the original open floor plan/open living philosophy and traditional designs. 

Upgrades include:  Bamboo kitchen cabinetry and stainless steel appliances, recycled laminate dark wood plank flooring, ultra modern kitchen with pendant lights and dining counters reminiscent of a stylish sushi bar, built-in bar cabinet with recessed lights, re-plastered pool, and new wood deck. 

This tranquil 3+2 (plus bonus pool bath), 1245 sq. ft. Rancho epitomizes the open indoor-outdoor lifestyle that May called the suburban, Post-war "American Dream."

Virtual Tour & Floor Planwww.7140EMezzanineWay.com

CLICK FOR BROCHURE:  Thought You'd be Interested

FOR EXCEPTIONAL REAL ESTATE SERVICE, CONTACT:
Elaine Mallon, Broker Associate
310-721-7121

www.elainemallon.com

REAL ESTATE AGENT & LOCAL EXPERT, serving Coastal Los Angeles County, including:  Hollywood Riviera, Redondo Beach, Manhattan Beach, Hermosa Beach, Palos Verdes Peninsula, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates and the San Pedro Peninsula.



Monday, April 13, 2015

RODEO REALTY, INC RANKS #2 ON LA BUSINESS JOURNAL LIST OF TOP RESIDENTIAL FIRMS IN L.A.

 

LA BUSINESS JOURNAL Ranks Rodeo Realty #2 on Top Residential Firms in LA List


The Los Angeles Business Journal Book of List 2015 ranked Rodeo Realty second on it's "Top Residential Firms in L.A." list with a whopping $4.264 billion in sales last year!
 
The largest independent brokerage in the country outperformed other companies like Berkshire Hathaway HomeService California, Sotheby's International Realty, Re/Max Estate Properties, Hilton & Hyland, Pinnacle Estates Properties, Westside Estate Agency, John Arroe Group, Partner's Trust, Shorewood Realty and The Agency with over $4.264 in sales revenue.

Rodeo Realty -- one of the most prestigious real estate firms in the country -- continues to climb the list of the largest brokerages firms in Los Angeles County. It remains the largest independent real estate company in the region, with 12 offices, and over 1200 agents.

For exceptional real estate service,  contact:

ELAINE  MALLON, CRS, CIAS
Broker Associate -- Luxury Real Estate
Rodeo Realty
310.721.7121
REAL ESTATE AGENT & LOCAL EXPERT, serving Coastal Los Angeles County, including:  Hollywood Riviera, Redondo Beach, Manhattan Beach, Hermosa Beach, Palos Verdes Peninsula, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, San Pedro Peninsula and Westside.

Sunday, January 4, 2015

2015 REAL ESTATE MARKET FORECAST: POSITIVE MOMENTUM CONTINUES


2015 FORECAST:  It's a new year and the outlook for the housing market is definitely bright.   2014 was the best year in the U.S. economic recovery since the recession of 2008-2009, with an accelerating economy fueling job and income growth, and helping to bolster consumer confidence.  It's also been seven years since the housing bubble burst and foreclosures skyrocketed, but in 2015 we'll see the end of that era. 


Experts predict the prospects are very good for homeowners and would-be home buyers in 2015.  Two factors may fuel an early start:
1.  INTEREST RATES EXPECTED TO RISE:
The Federal Reserve has indicated it will increase the federal funds rate -- which has an indirect but significant effect on mortgage rates -- next year.  The rate has remained near zero since December 2008, but Realtor.com Chief Economist, Jonathan Smoke, suggested the increase may come in mid-2015, and mortgage rates will increase ahead of the Fed's move.
"Our forecast for housing assumes the 30-year fixed rate will reach 5% by the end of 2015," Smoke said. "  The one-year adjustable rate will likely rise less if much at all, and accordingly, we are likely to see a shift into more adjustable and hybrid mortgages over fixed."  This should inspire a rush to buy this year, ahead of any increase.


2.  THE MILLENNIAL GENERATION IS BECOMING AN ADDITIONAL FORCE IN THE BUYING POOL:
The Millennial generation (born 1981 to 2000) is beginning its ascent.  About 65% of first-time home buyers are part of this older Millennial group (ages 25-34), and at an age when many marry and start families.  This segment of the generation is adding to an already crowded buyers pool, and its numbers in the market will eventually be bigger than even the Baby Boom generation.
More than two-thirds of household growth in the next five years is expected to come from Millennials, according to Smoke, and the market is only beginning to feel its impact.

It is predicted the serious buyers across the board will hit the ground running early in January, ahead of the traditionally more competitive Spring and Summer, and while interest rates remain low.  Prospects are very good for strategic homeowners and would-be home buyers.


FOR EXCEPTIONAL REAL ESTATE SERVICE, CONTACT:
Elaine Mallon, Broker Associate
Vista | Sotheby's International Realty
310-721-7121

Elaine.mallon@sothebysrealty.com
www.elainemallon.com

REAL ESTATE AGENT & LOCAL EXPERT, serving Coastal Los Angeles County, including:  Manhattan Beach, Redondo Beach, Hermosa Beach, Palos Verdes Peninsula, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates and the San Pedro Peninsula.