A Los Angeles native, Rohit knows the cities well and understands the subtleties that differentiate the various neighborhoods. After earning his B.A in Economics at the University of California Riverside in 2009, Rohit started working at Rodeo Realty. Rohit believes that giving someone what they want or need is not the same as sales. He provides clients with enough HONEST information with a positive energetic attitude so that clients can be informed in the process. Whether that means making the sale or not, Rohit is always looking out for his client’s best interest.
Rohit’s previous experience in retail sales and marketing provides him with a background that allows him to connect with his diverse clientele on many levels. This helps him determine the best fit for each individual, couple and family. Rohit enjoys creating long lasting relationships with his clients, and finds true satisfaction in the joy they experience when the search is over and he is able to hand them the keys to their new home. Rohit attributes his success to his persistence and constant need to better oneself. He is always coming up with new ways to make a home buyer or sellers life easier. He is fluent in Hindi, Sindhi and English.+ Read More
2 weeks ago ·
4 weeks ago ·
Just Showed this Beautiful Home in West Hills on Woodlake Court. Completely redone!! Offer out! Hope my clients get it 🙏 We are still showing homes and working in this market. Now is the time to get in on the home that you’ve been waiting for! Interest rates at an all time low! Call me with any questions and let me help you get into your dream house! #therohitmahtani #realtor #luxuryhomes #luxurylifestyle #realestateagent #westhills #porterranch #homesforsaleinwesthills #rodeorealty ... See MoreSee Less
4 weeks ago ·
Economic update for the Week ending May 2, 2020
Stock markets posted their largest monthly gains in 30 years in April - Stocks recovered in April after a devastating March. Despite a disappointing 4.8% decline in first quarter GDP, the worst quality decline since 2008, stocks ended the month much higher. Approximately $3 Trillion in government stimulus to businesses and individuals, unprecedented action by the Federal Reserve adding Trillions in liquidity, and states beginning to allow businesses to reopen fueled the rebound. The Dow had dropped from 29,000 in February to 18,000 by the third week of March before stead recovering. The Dow Jones Industrial Average closed the week at 23,723.69, down 0.2%, from 23,775.27 last week. It’s down 16.9% year to date. The S&P 500 closed the week at 2,830.71, down 0.2% from 2,836.74 last week. It’s down 12.4% year to date. The NASDAQ closed the week at 8,604.95, down 0.3% from 8,634.52 last week. It’s down 4.1% year to date.
U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 0.64%, up slightly from 0.60% last week. The 30-year treasury bond yield ended the week at 1.27%, up from 1.17% last week.
Mortgage rates are at record lows - The Freddie Mac Primary Mortgage Survey released on April 30, 2020, reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.23% down from 3.33% last week. The 15-year fixed was 2.77%, down from 2.86% last week. The 5-year ARM was 3.14%, down from 3.28% last week.
Unemployment claims jump for the fifth straight week - Another 3.85 million American workers filed first-time unemployment claims last week. That brings a total of over 30 million workers laid off in the last six weeks. The unemployment rate has gone from a 50 year low of 3.6% in February to over 20%, the highest rate since the Great Depression, in just 6 weeks. Fortunately, these job losses are mostly temporary as employers will gradually rehire their workers once they are permitted to re-open.
April Month end report
The Dow Jones Industrial Average ended the month of April at 24,345.72, up 11% from 21,917.16 on March 30, 2020. The S&P 500 closed the month at 2,912.44, up 12.6% from 2,585.59 at the end of March. The NASDAQ closed the month at 8,889.55, up 15.5% from 7,700.10 on March 30, 2020.
U.S. Treasury Bond Yields dropped to record lows in April - The 10-year U.S. treasury bond yield closed the month of April at 0.64%, down from 0.70% on March 30. The 30-year Treasury yield ended the month at 1.28%, down from 1.35% at the end of March.
Mortgage Rates dropped to record lows in April - The April 30, 2020 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 3.23%, down from 3.33% on April 2, 2020. The 15-year fixed was 2.77%, down from 2.82% April 2. The 5-year ARM was 3.14%, down from 3.49% on April 2, 2020.
The unemployment rate and official jobs report will be released next Friday by the Labor Department. Those figures will be included in my April month end economic update which I will send on May 10, 2020.
Home sales reports are released on the third week of the month for the previous month. These are the March results.
March 2020 U.S. Home sales report - The National Association of Realtors reported the total existing-home sales in March fell just 0.8% from the number of sales in March 2019. Considering that 80% of the country was under a stay-at-home order in March, this was quite a positive result. These homes went under contract before the crisis, as most closings take 30-60 days, but the buyers did close during the crisis. Prices were also up significantly in March. The median price was 8.0% higher than last March. That marked the 97th straight month of year over year increases in the median price. Inventory levels were tight. There was a 3.4 month supply of housing on the market.
California March Home Sales Report - Impact of the pandemic has begun to be felt as the number of sales dropped while prices continued to rise - The California Association of Realtors announced that existing single-family home sales totaled 373,070 on a seasonally adjusted annualized rate in March, down 6.1% from the number of sales in March 2019. The statewide median price paid for a home in March was $612,440, up 5.6% from February and up 8.3% from one year ago. The median price is the point at which 1/2 the homes sell for more 1/2 the homes sell for less. Escrows periods are commonly between 30 and 60 days, so these sales represent homes placed in escrow before the crises. Homes sold during the crises are just beginning to close. There was a record low 2.7 month supply of homes for sale in March compared to a 3.6 month supply in February and a 3.6 month supply of homes for sale last March. That is due to so many people removing their homes from the market. On a regional level: In Los Angeles County the median price increases 8.1% from last March. In Orange Country the median priceincreased 9% from one year ago. In Ventura County the median price increased 10.2% from last March.
Have A Great Weekend and Stay Safe and Healthy! ... See MoreSee Less
4 weeks ago ·