Congratulations to our team leader, Sherri Noel, for making it to Movato‘s list of Top 20 Real Estate Agents in Los Angeles! It is both an honor and a pleasure to have her on the list. It goes to prove that hard work pays off!
Movoto has done the math and puzzled out the top 20 real estate agents working in Los Angeles, based on the number of transactions they worked on, the average sold price of the houses they repped, and their total sales volume in 2012. Joyce Essex Harvey of Coldwell Banker did the most transactions (91) by far; but Kurt Rappaport of Westside Estate Agency definitively won the money game though, with an average sale price of $7 million and a total volume of $177 million (he was the only broker on the list to crack nine digits).
(Numbers are not 100% accurate and do not include buyer team sales and pocket listings.)
Catch sneak peaks of Sherri Noel / The Noel Team on HGTV’s “Selling LA” from behind the scenes footage. We’re grateful our listings have been exposed like this! Big thank you to Jim, Director of “Selling LA” and HGTV!
This meme couldn’t describe the depictions any better. At the end of the day, Realtors are helping people with one of the largest financial decisions and life changing moments in a person’s life. We love what we do!
Senior Loan Consultant - Surety Financial NMLS# 254553 DRE# 254553 www.karennatapoff.net firstname.lastname@example.org 310.849.8653
If you’ve been watching the economic news, you’ve probably noticed that market experts and traders have been keeping a close eye on the Commerce Department’s Personal Spending and Personal Income reports. Obviously, those reports provide insight into the health of our economy, but did you know they also influence home loan rates? Personal spending can actually influence the interest rates that are available when you purchase or refinance a home.
Here’s why. It has to do with something called the velocity of money. Even though the government keeps pumping money into the system, nothing happens until that money is spent or lent – and passes from one hand to another or one business to another. The speed at which this money passes between parties is called the velocity of money.
With the job market still very sluggish, consumers aren’t spending much money these days, and businesses are still reluctant to spend money to make investments in their business. With the present velocity at low levels, inflation remains subdued and that’s good for home loan rates. That’s because rates are tied to Mortgage Bonds and inflation is the archenemy of Bonds, so low inflation is good for Bonds and rates. However, once velocity increases, the excess money in the system will cause inflation – which is bad for rates, since even the slightest scent of inflation can cause home loan rates to worsen.
While we certainly want to see better economic recovery news in the near future, we have to remember that there’s an inverse relationship between good economic news and Bonds and home loan rates. Weak economic news normally causes money to flow out of Stocks and into Bonds, which helps Bonds and home loan rates improve. Strong economic news, on the other hand, normally has the opposite result.
Currently, home loan rates are at a historically low level, but that situation won’t last forever. That means now is an ideal time to purchase a home or refinance before the velocity of money – and rates – change.
Karen Natapoff is affiliated with Surety Financial, a Licensed Mortgage Banker and Broker, California Department of Real Estate.
Moving to Los Angeles isn’t just for aspiring Hollywood go-getters anymore. Santa Monica and Venice now house techies at numerous start-up companies and the new Google campus.
From the Broker:
“Who knows, you just might end up in the White House one day. The apartment is a two bedroom, one bath located on West 109 Street. Fully renovated with lots of charm – including exposed brick, high ceilings, a marble bath and hardwood floors. The apartment also features a galley kitchen, generous closet space, and best of all, its unbeatable dinner conversation!”
2 years ago, the apartment went for $1,900 per month. In today’s real estate market, it is $2,400 per month.