Quick Search

Welcome

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

Facebook

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!
... See MoreSee Less

2 weeks 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!
... See MoreSee Less

4 weeks 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!
... See MoreSee Less

1 month ago  ·  

Economic update for the week ending August 11, 2018

Stocks lower for the week - Stock market indexes posted their first weekly loss since the last week of June. Markets, which were within 1/2% of all time highs last week, after a stellar second quarter earnings season, reacted to a financial crisis in Turkey and an increase in back and forth tariff threats between The U.S. and China. The Dow Jones Industrial Average closed the week at 25,313.14, down from 25,462.08 last week. It is up 2.4% year to date. The S&P 500 closed the week at 2,833.28, down from 2,840.30 last week. It’s up 6.0% year to date. The NASDAQ closed the week at 7,839.12, up from 7,812.01 last week. It’s up 13.6% year to date.

Treasury Bond Yields lower this week - The 10-year treasury bond closed the week yielding 2.87%, down from 2.96% last week. The 30-year treasury bond yield ended the week at 3.03%, down from 3.09% last week. Mortgage rates follow bond yields. I’d expect next weeks mortgage rates to be slightly lower.

Mortgage rates almost unchanged for the week - The August 9, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.59%, almost unchanged from 4.60% last week. The 15-year fixed was 4.05%, almost unchanged from 4.08% last week. The 5-year ARM was 3.90%, down slightly from 3.93% last week.

Housing affordability drops to a 10-year low in the second quarter - The California Association of Realtors reported that only 26% of California households could afford to purchase a median priced home in California. That was down sharply from 31% in the first quarter of 2018. It was also down from 29% in the second quarter of 2017. Rising home prices, higher interest rates and stagnant incomes have driven affordable down. For example, home prices in June rose over 8% while wages grew just 2.7% from one year earlier. Interest rates were no higher in the second quarter of 2018 than in the first quarter, but were higher than in the second quarter of 2017.

Have A Great Weekend.

Rohit
... See MoreSee Less

1 month ago  ·  

Economic update for the week ending August 4, 2018

157,000 new jobs added in July - The Bureau of Labor Statistics reported that 157,000 new jobs added in July. This was below the 193,000 expected by analysts, but still a healthy number. In the last 12 months job gains have averaged 203,000 a month. Wage growth, which is an indicator of inflation risk, showed average hourly wages growing by 2.7% over the past 12 months. The unemployment rate dropped to near historic lows of 3.9%, down from 4% in June. While more wage growth would be nice, 2.7% won’t put much pressure on The Fed to raise rates to combat inflation risks. Usually, with unemployment so low you would see wage growth at 3% or more. Wages have been stubborn to rise which has kept inflation in check and interest rates historically low. Especially with such robust growth.

Strong corporate earnings overshadowed trade fears this week - With over 30% of companies reporting second quarter earnings, this earnings season is turning out mostly positive. Most companies posted results that beat expectations. While Tech stocks sunk last week after Facebook reported disappointing earnings, they soared this week after Apple’s earnings were reported. Apple became the first company to have a valuation of over $1 trillion. China and the U.S. both stepped up tariffs on more products, while The U.S. and The European Union edged toward a trade deal. Trade fears probably are the reason stocks did not rally much higher on such strong earnings. The Dow Jones Industrial Average closed the week at 25,462.08, up slightly from 25,451.06 last week. It is up 3% year to date. The S&P 500 closed the week at 2,840.30, up from 2,818.82 last week. It’s up 6.2% year to date. The NASDAQ closed the week at 7,812.01, up from 7,737.43 last week. It’s up 13.2% year to date.

Treasury Bond Yields unchanged this week - The 10-year treasury bond closed the week yielding 2.95% almost unchanged from 2.96% last week. The 30-year treasury bond yield ended the week at 3.09%, unchanged from 3.09% last week. We watch bond rates because mortgage rates follow bond rates.

Mortgage rates slightly higher for the week - The August 2, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.60%, up slightly from 4.54% last week. The 15-year fixed was 4.08%, up slightly from 4.02% last week. The 5-year ARM was 3.93%, up slightly from 3.87% last week.

Have a great weekend!
... See MoreSee Less

2 months ago  ·  

Follow me on Twitter