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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.

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3 days ago  ·  

Economic Update for The Week Ending October 6, 2018

U.S. Economy adds 134,000 new jobs in September - Unemployment rate dropped to the lowest level since 1969 - The Department of Labor Statistics reported that U. S. employers added 134,000 new jobs in September. That was below the 185,000 that analysts had estimated, yet even though job creation fell to its lowest level in a year the unemployment rate dropped to its lowest level in 49 years. The national unemployment rate in September was 3.7%, down from 3.9% in August. Average hourly wages rose 2.8%year over year from last September. That was slightly lower than last month when average hourly wages increased 2.9% from last August.

The Dow Jones Industrial Average closed the week at 26,447.05, down from 26,458.31 last week. It is up 7% year to date. The S&P 500 closed the week at 2,885.57, down from 2,913.98 last week. It's up 9% year to date. The NASDAQ closed the week at 7,788.45, down from 8,046.35 last week. It's up 16% year to date.

Treasury Bond Yields sharply higher than last week - The 10-year treasury bond closed the week yielding 3.23%, up from 3.04% last week. The 30-year treasury bond yield ended the week at 3.40%, up from 3.19% last week. We watch treasury bond yields because mortgage rates follow bond yields.

Mortgage rates higher at the end of the week - The October 4, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.71%, almost unchanged from 4.72% last week. The 15-year fixed was 4.15%, almost unchanged from 4.16% last week. The 5-year ARM was 4.01%, up from 3.97% last week. Although mortgage rates on Thursday's survey were unchanged from last week's rates they did rise in the end of the week. Next week's survey rates will be higher.

Have A Great Weekend!
Rohit
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1 week ago  ·  

Economic update for the week ending September 8, 2018

Wages grew at highest pace since 2009 - 201,000 new jobs created in August - The Labor Department reported that the U.S. economy added 201,000 new jobs in August. That number beat analysts expectations and marked the 95th conservative month of job growth. The unemployment rate held steady at 3.9%, a 50 year low. The highlight of the report was that wages grew 2.9% in August from one year ago. That was the highest wage growth since 2009. Wages have been rising at just 2.6% -2.7% for many years. Usually when unemployment is at historic low rates more competition for workers drives wages up. Until August that has not happened. Experts have been baffled at how stubborn wage growth has been with such robust job gains. In January it appeared that wages were finally moving higher, but wages dropped back to rising just 2.6% - 2.7% year over year in the following months until August. In the coming months we will see if this is a trend to higher wages or just a unique one month reading like we saw in January.

Stocks drop this week - Renewed trade and tariff talk weighed on stocks this week. A robust job and wage growth report did not cause a rally. With consumer spending accounting for nearly 70% of the economy one would think that higher wages, and consumer confidence at a 18 year high would be encouraging. On the other hand if consumer spending picks up that could cause inflation, which is very low, to pick up. Higher inflation would lead to higher interest rates and increase borrowing costs.
The Dow Jones Industrial Average closed the week at 25,916.53, down from 25,964.82. last week. It is up 4.8% year to date. The S&P 500 closed the week at 2,861.78, down from 2,901.52 last week. It’s up 7.4% year to date. The NASDAQ closed the week at 7,992.54, down from 8,109.64 last week. It’s up 14.5% year to date.

Treasury Bond Yields higher - The 10-year treasury bond closed the week yielding 2.94%, up from 2.86% last week. The 30-year treasury bond yield ended the week at 3.11%, up from 3.02% last week. We watch treasury bond yields because mortgage rates follow bond yields.

Mortgage rates almost unchanged in September 6 survey, but rates rose after jobs report. Next week’s rates will be higher. - The September 6, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.54%, almost unchanged from 4.52% last week. The 15-year fixed was 3.99%, up from 3.97% last week. The 5-year ARM was 3.93%, up from 3.85% last week.

Have a great weekend!
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1 month ago  ·  

Economic update for the week ending August 25,2018

Stocks end week at record highs - Longest Bull Market in history - Stock ended the week at record highs, for the first time since January, after Fed Chairman Powell released remarks stating that inflation is tame, and that The Fed no longer fears the economy will overheat and spike inflation. These remarks led investigators to assume he was signing that The Fed was nearing the end of interest rate hikes. The market also surpassed the bull market of the 1990’s as the longest bull market ever hitting 3,450 days this week. The Dow Jones Industrial Average closed the week at 25,790.35, up from 25,669.33 last week. It is up 4.3% year to date. The S&P 500 closed the week at 2,874.69, up from 2,850.13 last week. It’s up 7.1% year to date. The NASDAQ closed the week at 7,945.98, up from 7,816.33 last week. It’s up 15.1% year to date.

Treasury Bond Yields drop - The 10-year treasury bond closed the week yielding 2.82%, down from 2.87% last week. The 30-year treasury bond yield ended the week at 2.97%, down from 3.03% last week.

Mortgage rates slightly lower again this week - The August 23, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.51%, down from 4.53% last week. The 15-year fixed was 3.98%, down from 4.01% last week. The 5-year ARM was 3.82%, down slightly from 3.86% last week.

New home sales dip in July - The Commerce Department reported that sales of new homes dropped to the weakest pace in nine months in July. New home sales fell 1.7% in July from June’s levels to an annualized rate of 627,000 sales. Analysts expected the number to be closer to a rate of 645,000 sales. Prices increased just 1.8% from last July’s levels. Inventory of new homes for sale also increased to a 5.9 month supply in July. That was up from 5.7 months in June.

July U.S. Total existing-home sales - The National Association of Realtors reported that the number of sales of previously-owned homes fell for a fourth straight month in July. Existing-home sales which include single-family homes, town-homes, condominiums, and co-ops fell 0.7% in July from June. Year over year sales were 1.5% below last July’s sales pace. That marked the fifth straight month of year over year declines in sales and the slowest pace since 2016. It should be noted that the number of existing- home sales in 2017 was a record number. Home prices continued to increase. The median price paid for an existing-home in July was 4.5% higher than last July. That marked the 77th straight month of year over year price increases. Nationally, housing inventory decreased 0.5% in July. The unsold inventory index stood at a 4.3 month supply, unchanged from last July’s level.

California existing home sales slow for third straight month in July - Prices higher - The California Association of Realtors reported that existing single family home sales totaled 406,920 in July on a seasonally adjusted annualized basis. That was down 0.9% from June and 3.4% below last July’s level when home sales totaled 421,460 on an annualized basis. The state-wide median price paid for a home was $591,460 in July, up 7.6% from last July. On a regional level prices in Los Angeles County rose 5.5%, Orange County prices rose 5.6%, and Ventura County prices rose just 2.1% from July 2017. Inventory levels continued to increase. The unsold inventory index ticked up to a 3.3 month supply in July, up from 3.2% last July. A normal market has a 6 -7 month supply. Active listings increased for a fourth consecutive month after 33 months of declines, increasing 11.9% from last July.

Have a great weekend!
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2 months ago  ·  

Economic update for the week ending August 18, 2018

California Employers add 46,700 jobs in July - The Employment Development Department reported that 46,700 new jobs were added in July. The unemployment rate held at a record low of 4.2%. The number of job gains exceeded expectations, but average hourly wages rose just 2.2% from one year ago.

Stocks surge on renewed trade talks - Stocks had a turbulent week. They dropped early in the week as fears that a currency and economic collapse in Turkey could spread to other countries within the region, but surged Thursday and Friday as trade negotiations with China, Mexico and Canada were reported. Investors are also very optimistic as the second quarter earnings season comes to a close. Most companies reported double digit percent increases in profits. The Dow Jones Industrial Average closed the week at 25,669.33, up from 25,313.14 last week. It is up 3.8% year to date. The S&P 500 closed the week at 2,850.13, up from 2,833.25 last week. It’s up 6.6% year to date. The NASDAQ closed the week at 7,816.33, down from 7,839.12 last week. It’s up 13.2% year to date.

Treasury Bond Yields unchanged - The 10-year treasury bond closed the week yielding 2.87%, unchanged from 2.87% last week. The 30-year treasury bond yield ended the week at 3.03%, unchanged from 3.03% last week.

Mortgage rates slightly lower for the week - The August 16, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.53%, down from 4.59% last week. The 15-year fixed was 4.01% from 4.05% last week. The 5-year ARM was 3.86%, down slightly from 3.90% last week.

California existing home sales slow for third straight month in July - The California Association of Realtors reported that existing single family home sales totaled 406,920 in July on a seasonally adjusted annualized basis. That was down 0.9% from June and 3.4% below last July’s level when home sales totaled 421,460 on an annualized basis. The state-wide median price paid for a home was $591,460 in July, up 7.6% from last July. On a regional level prices in Los Angeles County rose 5.5%, Orange County prices rose 5.6%, and Ventura County prices rose just 2.1% from July 2017. Inventory levels continued to increase. The unsold inventory index ticked up to a 3.3 month supply in July, up from 3.2% last July. A normal market has a 6 -7 month supply. Active listings increased for a fourth consecutive month after 33 months of declines, increasing 11.9% from last July.

Have a great weekend!
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2 months ago  ·  

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