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
Economic update for the week ending August 17, 2019
Stocks drop for the third straight week -Stocks declined as recession fears increased after several economic indicators point to a global slowdown. President Trump announced that tariffs scheduled to begin in September would be pushed back to at least the middle of December, which helped the markets in an otherwise turbulent week. The Dow Jones Industrial Average closed the week at 25,886.01, down 1.5% from 26,287.44 last week. It’s up 11% year to date. The S&P 500 closed the week at 2,888.68, down 1.0% from 2,918.655 last week. It is up 15.2% year to date. The NASDAQ closed the week at 7,895.99, down 0.8% from 7,959.14 last week. The NASDAQ is up 19% year to date.
Treasury Bond Yields at lowest level in 3 years - Bond yields dropped sharply on recession fears - The 10-year treasury bond closed the week yielding 1.55%, down from 1.74% last week. The 30-year treasury bond yield ended the week at 2.01%, down from 2.26% last week. We watch treasury bond yields because mortgage rates often follow bond yields.
Mortgage rates near record lows this week - The August 15, 2019 Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.60, unchanged from 3.60% last week. The 15-year fixed was 3.07%, almost unchanged from 3.05% last week. The 5-year ARM was 3.35%, unchanged from 3.36% last week. Rates dropped at the end of the week. The 30-year fixed was well under 3.5%! Next week’s survey rates should be lower.
July California existing home sales report – July marked the first month in one year where the number of sales increased year over year for the same month the previous year - The California Association of Realtors reported that existing single-family homes sales totaled 411,630 in July on a seasonally adjusted annualized rate. That represented a jump of 5.6% from Juneand a year over year increase of 1.1% from last July. The number of homes sold from January to July are down 4.9% compared to the first 7 months of 2018, but it was encouraging to have a month with more sales than the same month last year. The statewide median price was $607,990, up 2.8% from July 2018. Theunsold inventory index stood at a 3.2-month supply of homes for sale, down from a 3.3 month supply last July. Year over year results on a regional basis in July were as follows: In Los Angeles Countythe median price was $611,250, up 2.3%, and the number of sales increased 4.7%. In Orange County the median price was $839,450, up 1.3%, and the number of sales increased 6.7%. In Ventura County the median price was $685,000, up 3.4%, and the number of sales increased 2.1%.
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5 days ago ·
❤️ #therohitmahtani #realtor #rodeorealty #family ... See MoreSee Less
6 days ago ·
Just Sold! Only 11 days on the Market. 549 E Palm Ave. #205 Burbank $675,000. Represented the Seller 🙏 Thanks and Blessed with Haply Clients in Both ends! #therohitmahtani #justsold #sold #closedescrow #housesforsaleinburbank #luxurylifestyle #realtor #realestateagent #luxuryhomes #luxuryliving #condosinburbank #avalonburbank #housesinburbank #rodeorealty ... See MoreSee Less
1 week ago ·
In Escrow! Sold within 10 Days Significantly over listing Price 🙏 for a smooth deal and happy clients on both sides. Representing the Sellers #therohitmahtani #realtor #rodeorealty #mdlla #mdlny #luxuryhomes #luxurylife #luxurylifestyle #luxuryliving #sold #inescrow #porterranch #calabasas #northridge ... See MoreSee Less
2 weeks ago ·
Economic update for the week ending August 9, 2019
Trade war worries dragged down stocks this week - Stocks fell modestly while bond yields dropped to a three year low as global markets reacted to an unexpected drop in China’s currency. As the trade war escalated, China retaliated by allowing its currency to drop to the lowest level in a decade. Cheaper currency makes Chinese goods less expensive for consumers in other countries, which basically offsets tariffs. Conversely, a weaker yen makes American and other imports more expensive to Chinese consumers. The Dow Jones Industrial Average closed the week at 26,287.44, down 0.7% from 26,485.01 last week. It’s up 12.7% year to date. The S&P 500 closed the week at 2,918.65, down 0.5% from 2,932.05 last week. It is up 17% year to date. The NASDAQ closed the week at 7,959.14, down 0.9% from 8,004.07 last week. The NASDAQ is up 20.0% year to date.
Treasury Bond Yields at lowest level in 3 years - Bond yields dropped sharply this week. The 10-year treasury bond closed the week yielding 1.74%, down from 1.86% last week. The 30-year treasury bond yield ended the week at 2.26%, down from 2.39% last week. We watch treasury bond yields because mortgage rates often follow bond yields.
Mortgage rates near record lows this week - The August 8, 2019 Freddie Mac Primary Mortgage Survey showed mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.60%, down from 3.75% last week. The 15-year fixed was 3.05%, down from 3.20% last week. The 5-year ARM was 3.36%, down from 3.46% last week.
Home affordability drops in second quarter, but affordability is still higher than one year ago - The California Association of Realtors reported that 30% of California households could afford to purchase a $608,660 median-priced home in the second quarter of 2019. That was down from 32% in the first quarter, as the median price rose over 7% from the first to second quarter, but homes are more affordable than one year ago when only 26% of households could afford the median priced home in Q2 2018. The income needed to purchase a median priced home was $122,960. 45% of households could afford to purchase a median priced condominium or townhouse which required an annual income of $95,960.
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2 weeks ago ·