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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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Economic update for the week ending June 27, 2020

Stocks drop on Coronavirus fears - As Coronavirus cases increased dramatically in 31 states, investors sold off stocks, and all indexes dropped sharply. Many governors and mayors announced a pullback in the speed of reopening. A couple of towns even went back to a shelter in place order. A pullback in reopening will stall the economy further, and slow the pace of workers returning to work. The Dow Jones Industrial Average closed the week at 25,015.55, down 3.3% from 25,871.46 last week. It’s down 12.3% year to date. The S&P 500 closed the week at 3,009.05, down 2.9% from 3,097.74 last week. It’s down 6.9% year to date. The NASDAQ closed the week at 9,757.22, down 1.9% from 9,946.12 last week. It’s up 8.7% year to date.

U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 0.64%, down from 0.71% last week. The 30-year treasury bond yield ended the week at 1.37%, down from 1.45% last week.

Mortgage rates - The Freddie Mac Primary Mortgage Survey released on June 25, 2020, reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.13%, unchanged from 3.13% last week. The 15-year fixed was 2.59%, unchanged from 2.58% last week. The 5-year ARM was 3.08% unchanged from 3.09% last week.

California Pending Home Sales - Leslie Appleton Young the chief economist and VP of The California Association of Realtors announced that pending sales increased 67% in May from April’s pending sales figures. Pending sales are new contracts signed and reported to MLS systems. They take on average 30-60 days to close. May’s existing home sales marked a historic low number, down over 41% from the number of homes sold last May. Fortunately, judging by the number of pending sales, and the escrow cancellation rate, June and July’s existing sales numbers will be significantly higher, and much closer to last years figures.

Have A Great and Safe Weekend!
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1 month ago  ·  

Economic update for the week ending June 20, 2020

Stock markets were higher on retail sales rebound - Stocks soared Monday after The Commerce Department reported that retail sales rose 18% in May. It was the largest monthly increase ever, and investors read the report as a sign that the economy was rebounding quicker than expected. The Dow Jones Industrial Average closed the week at 25,871.46, up 1% from 25,605.54 last week. It’s down 9.3% year to date. The S&P 500 closed the week at 3,097.74, up 1.9% from 3,041.32 last week. It’s down 4.1% year to date. The NASDAQ closed the week at 9,946.12, up 3.7% from 9,588.81 last week. It’s up 10.8% year to date.

U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 0.70%, unchanged from 0.71% last week. The 30-year treasury bond yield ended the week at 1.47%, almost unchanged from 1.45% last week.

Mortgage rates - The Freddie Mac Primary Mortgage Survey released on June 18, 2020, reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.13%, down from 3.21% last week. The 15-year fixed was 2.58%, down from 2.62% last week. The 5-year ARM was 3.09% almost unchanged from 3.10% last week. Rates dropped late in the week.

California existing home sales - The California Association of Realtors announced that existing home sales totaled 238,740 on a seasonally adjusted annualized basis. As expected that was down 41.4% from the number of homes sold last May. May sales consist mostly of homes that went under contract and in escrow in March and April when it was not permitted to even show a home in some cities. Fortunately, since May pending sales, homes that went under contract, have increased. The median price paid for a home in California decreased 3.7% year over year from last May. THAT MARKED THE FIRST YEAR OVER YEAR DECRASE IN A DECADE! Experts were not surprised by this, as many of these sales represented people that either bought homes virtually, or viewed homes in person against city ordinances. Fortunately, those ordinances changed in the third week of April, and in person showings became permissible with safety restrictions statewide. Once that happened pending sales increased sharply. On a regional basis Los Angeles County saw a 1.4% increase in the median price, Ventura County saw a 3.1% increase, and Orange County saw a 1.2% drop in the median price from last May’s level. We are expecting the median price increases to be higher next month judging by the pending sales.

Stay Safe And Have A Great Father's Day Weekend!
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1 month ago  ·  

Economic Update for the week ending June 13, 2020

Stock markets gave up most of last weeks gains - Last week’s robust jobs report for May propelled stocks to one of the highest percentage gains in years, but warnings from the Federal Reserve of a slower than expected recovery, followed by data showing a surge in new coronavirus cases caused stock markets to have their worst week since March. While stocks suffered steep losses this week it’s important to acknowledge that the major indexes are still higher than they were two weeks ago. The Dow Jones Industrial Average closed the week at 25,605.54, down 5.6% from 27,110.99 last week. It’s down 10.3% year to date. The S&P 500 closed the week at 3,041.32, down 4.4% from 3,193.93 last week. It’s down 5.9% year to date. The NASDAQ closed the week at 9,588.81, down 2.3% from 9,814.09 last week. It’s up 6.9% year to date.

U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 0.71%, down from 0.91% last week. The 30-year treasury bond yield ended the week at 1.45%, down from 1.69% last week.

Mortgage rates - The Freddie Mac Primary Mortgage Survey released on June 11, 2020, reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.21%, up slightly from 3.18% last week. The 15-year fixed was 2.62%, unchanged from 2.62% last week. The 5-year ARM was 3.10% almost unchanged from 3.10% last week. Rates dropped late in the week. Next week’s rates will be lower.

May home sales data will be released next week. While we know that the number of sales will be down at least 50% from one year ago, we will be looking at sales price data. From what we are seeing we expect a healthy rise in home prices. Those figures will be included in next week’s update.

Have A Great Weekend!
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2 months ago  ·  

Here is some information about California Existing Home Sales! The 30 year fix is the lowest it’s been in the last 3 years! Home Sales have Slowed significantly but median prices are overall steady in comparison to the past year. #therohitmahtani #porterranch #tarzana #realtor #realestate #realtor ... See MoreSee Less

2 months ago  ·  

Economic update for the week ending June 6, 2020

Employers added 2.5 million jobs in May - The Department of Labor Statistics reported that the economy added 2.5 million net jobs in May. That marked an all time record for jobs added in one month. The unemployment rate in May was 13.3%. While that marked an improvement from April’s 14.7% unemployment rate, it’s still much higher than at the peak of the Great Recession. Economists had expected the unemployment rate to be 20%, so this beat any expectation by any expert and stocks surged. It should be noted that the unemployment rate was 3.5% three month ago! Most of the job gains came from re-hire of employees that have been laid off since the country forced a shut down of business beginning in March. Over 20 million jobs were lost in April alone. While some experts questioned the methods of how the numbers were calculated, they all agreed that employers are hiring back workers faster than expected.

Stocks surged on better than expected job gains - Stock markets closed higher every day this week despite protests which forced businesses to close just after they were finally permitted to reopen. On Friday the jobs report revealed that employers had hired back workers at a faster clip than anyone expected in May, and stocks surged. The Dow Jones Industrial Average closed the week at 27,110.98, up 6.8% from 25,383.11 last week. It’s down 5.0% year to date. The S&P 500 closed the week at 3,193.93, up 4.9% from 3,044.31 last week. It’s down 1.1% year to date. The NASDAQ closed the week at 9,814.09, up 3.4% from 9,489.87 last week. It’s up 9.4% year to date.

U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 0.91%, up, from 0.65% last week. The 30-year treasury bond yield ended the week at 1.68%, up from 1.41% last week.

Mortgage rates remain at historic lows - The Freddie Mac Primary Mortgage Survey released on June 4, 2020, reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.18%, almost unchanged from 3.15% last week. The 15-year fixed was 2.62%, unchanged from 2.62% last week. The 5-year ARM was 3.10% almost unchanged from 3.13% last week.

Have a Great Sunday!
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2 months ago  ·  

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