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Stefen Lee Liberti
Works at Rodeo Realty Inc.
Attended Bergen Community College
Lives in West Hollywood, CA 90046
104 followers|26,819 views


Ever Wonder Who Pays For What When It Comes To Closing Costs?
#Realestate #Ecsrows #Househunting #Buyers #Sellers
Donneil Simmons Sr's profile photoStefen Lee Liberti's profile photo
Thank you for your feedback and you're very welcome Donneil!
FYI...Keep in mind the footnote on bottom right side. Their are many ways to offset these costs. 
If you're looking to buy in Los Angeles, feel free to contact me. I would love to help you find the perfect place. You can connect with my FB Business page as well if you like.

Happy House Hunting! :)
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★Economic update for week ending September 13, 2013★

The #FreddieMac Weekly #PrimaryMortgageMarket Survey showed the 30-year fixed rate unchanged from last week’s 4.57%. The 15-year rate also held perfectly steady at 3.59%, the same as last week. A year ago this week according to the survey, the 30-year rate was at 3.55% while the 15-year #rate was at 2.85%. #Jumbo 30 year #loans are around 5 1/8% and jumbo 15 year loans are around 4 1/8%.

Although there is so much concern about #interest rates, it’s important to remember that rising interest rates are a sign of the #economic rebound. Which would you prefer, low interest rates with a bad economic outlook, dropping home prices, and rising #unemployment, or higher interest rates with a growing economy, more jobs and higher #homeprices? Really good economy news leads to higher interest rates! Yes interest rates are drastically higher that their bottom on May 1, yet really at historical low levels.

The #economy is clearly getting better although at #theFed meeting next week we may yet see a further delay in plans to initiate a taper of the #QE3 stimulus plan. It was widely felt that the taper would be announced at the Sept 17-18 meeting. They may not begin to taper down due to continued concern over Syria, the ongoing debate regarding raising the debt ceiling, and the implications of the rollout of the Affordable Care Act, all of which are causing uncertainty.

Numbers released by DataQuick found that #SouthernCalifornia home prices were flat from a month earlier. However sales hit a seven-year high for the month. The median sales price in the six-county #Southland area was $385,000 the same as it was in June and July but up 24.6% over last year.

In #LosAngelesCounty the median price rose 28.1% to $429,000 in August. The data showed that for the Southland area, #buyers purchased 23,057 houses and #condos, 2.8% more than a year ago but down .8% from the previous month. Its not unusual to see prices flatten at this time of year, and we may see slower sales as we move into the fall and winter months. I predict that we will see another strong spike in home prices and sales once the market begins to heat up again in February.

RealtyTrac also released their #foreclosure numbers this week, finding that foreclosure filings in the U.S. fell 34% compared to last August. They reported that 55,775 properties started the foreclosure process during the month, down 44% from a year ago, the lowest number since December 2005.

This week U.S. applications for #homeloans fell and refinancing hit its lowest activity level in nearly 5 years. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity (including both refinancing and home purchases) dropped 13.5% for the week ending September 6. The index is at the lowest level since November 2008. Refinancing is at its lowest rate since June 2009. This is definitely a result of higher rates.
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#Realestate #Economy #InterestRates #Mortgage #Buyers #Sellers  

Stocks were mixed this holiday-shortened week responding to a mixed bag of news. Inflation reports show inflation remains low. In January, overall prices rose 1.6% from a year ago. Prices of most commodities rose modestly while the shelter index was up at 2.6% compared to a year ago because rents are rising. 

The Dow closed out the week at 16,103.30 down -0.32% from last week’s close of 16,154.39. The Nasdaq was up, ending the week at 4,263.41 up 0.45% from last week’s 4,244.03 close.
The S&P 500 was down very slightly, closing the week at 1,838.63, down -0.13% from last week’s 1,838.63 close.

The 10-year Treasury note yield rate was down slightly to 2.73% after ending last week at 2.75%. It was 1.99% a year ago. 

★Mortgage Interest rates rose slightly this week. 
The Freddie Mac Weekly Primary Mortgage Market Survey showed that the 30-year-fixed rate up to 4.33% from 4.28% last week.

★The 15-year-fixed inched up to 3.35% from last week’s 3.33%. A year ago the 30-year fixed was at 3.56% and the 15-year was at 2.77% interest rates on loans over $417,000 are around 4.625% for 30 year fixed and 3.625% on 15 year fixed.

Low inventory continues to have a very constraining effect on California home sales. The California Association of Realtors® reported that closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 363,640 units in January, marking the third straight month that sales were below the 400,000 level and the sixth straight decline on a year-over-year basis. Sales in January were up 0.3% from a revised 362,430 in December but were down -13.8% from a revised 421,780 in January 2013.

★Inventory at the higher end of the market, priced $1 million and higher did increase 11.1% from last year. 

The statewide median price of an existing, single-family detached home fell -6.2% from December’s revised median price of $438,090 to $410,990 in January. 
January’s price was 22.1% higher than the revised $336,650 recorded in January 2013, marking 23 consecutive months of year-over-year price increases and the 19th straight month of double-digit annual increases. The available supply of existing, single-family detached homes for sale rose in January to 4.3 months, up from December’s Unsold Inventory Index of 3 months. The index was 3.5 months in January 2013. 

The median number of days it took to sell a single-family home also increased to 44.3 days in January, up from 40.2 days in December and from a revised 36.7 days in January 2013.

In Los Angeles County alone, the median sold price of existing homes was down 3.7% in January from December’s $439,830 to $423,570 which is up 21.1% from January 2013’s $349,720 median price. Total sales were down 21.2% month over month and down -13.3% from January 2013. 

The cold weather, low inventory, and rising mortgage rates are cited as potential reasons for the lower numbers. Inventory improved modestly, up 2.2% month over month to 1.9 million homes and up 7.3% from January 2013.

The current inventory supply rate is now 4.9 months, up from 4.6 months in December and 4.4 months a year ago. The median existing home price for all housing types nationwide in January was $188,900, up 10.7% from January 2013. The median time on market for all homes was 67 days in January, down from 72 days in December and 31% of homes sold in January were on the market for less than a month.

The latest foreclosure data from RealtyTrac shows that one in every 1,058 U.S. homes received a foreclosure filing in January. Foreclosure filings are down -18% from January 2013 but up 8% from December 2013. The rise in foreclosure activity was caused by a surge in properties just entering foreclosure, as well as scheduled foreclosure auctions. The report did show that foreclosure starts in California actually rose 57% from a year ago after 17 consecutive months of annual decreases.

The extreme weather that has hammered much of the country seems to have also impacted home-builder confidence. The National Association of Home Builders/Wells Fargo Builder Sentiment Index is now 46, down from January’s 56 reading and the lowest level since May. Economists had been predicting a number similar to the one they saw in January. 

★Generally a reading below 50 indicates that more builders see sales conditions as poor rather than good. Builders’ prediction for sales over the next six months also fell by six points to 54.

U.S. housing starts saw their biggest drop in nearly three years last month. The U.S. Census Bureau and the Department of Housing and Urban Development reported that single-housing family starts were down -16% in January to a seasonally-adjusted annual rate of 880,000 units below economists’ predictions of 950,000. This was attributed to the unusually cold weather gripping much of the country and in fact in the hard-hit Midwest, starts were down a record -67.7%. Groundbreaking for single-family homes, the largest segment of the market, fell 15.9 percent to a 573,000-unit pace in January, the lowest level since August 2012. Permits to build homes were down by -5.4% in January, the largest drop in since June.

The National Housing Trend Report from® showed that the median list price for January rose 8.3% compared to last year but only up 0.1% from the previous month.

The number of properties for sale was up 3.1% for the year but down -3.3% from the previous month. 

The median age of inventory was essentially unchanged. For the Los Angeles-Long Beach MSA the median price was $449,000 up 25.1% from a year ago but down -0.20% from the previous month.

The amount of total listings was 18,600 up 3.40% from the previous year and up 5.10% from the previous month. The median age of inventory was 74 days, down -5.1% from the previous year and down -1.3% from the previous month. 

★We are heading into the selling season which will be a welcome relief when it comes to real estate related data. Expect to see the month over month indicators pick up after March! Not only do they pick up at that time every year, we are beginning to see the pick up in the marketplace. 

While inventory levels are still near record lows we are beginning to see many more homes listed in many of our markets. That alone should increase the number of sales as we still see stronger demand than inventory supply which is evident by the high number of multiple offers. Obviously, not all homes are getting multiple offers, there is a limit to how high a home can be priced. Homes that are not well priced are sitting on the market. 

Have A Great Weekend Everyone!  :)
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★★Economic Update For January 2014★★
#Realestate #Economy #Market #Buyers #Sellers

January saw some corrections in the stock market with the S&P 500 and the Dow posting their biggest monthly percentage decline since May 2012. This was the first January since 2010 with a decline.
The Dow closed out the month at 15,698.85  down -5.3% from last month’s close of 16,576.60 and down -1.14% from last week’s close of 15,879.11.

The Nasdaq fared a bit better and ended the month at 4,103.88 down -1.7% from last month’s close of 4,166.66 and down -0.59% from last week’s 4,128.17 close.

The S&P 500 ended the month at 1,782.59, a drop of -3.56% from last month’s 1,848.36 close and down -0.43% from last week’s 1,790.29 close.

★Interest rates dropped during the month. The Freddie Mac Weekly Primary Mortgage Market Survey showed that the 30-year-fixed rate dropped to 4.32% from 4.39% last week and 4.53% at the start of the month.  The 15-year-fixed fell to 3.40% from last week’s 3.44% and 3.55% at the start of the month. A year ago the 30-year fixed was at 3.53% and the 15-year was at 2.81%.

Over the course of January, the 10-year Treasury note yield rate fell after starting the month at 3.0%  It closed out the month at 2.67%  after ending last week at 2.75%. It was 2.02% a year ago.

Los Angeles County’s unemployment rate fell to 9.2% in December down from 9.5% in November and 10.3% in December 2012. This is its lowest point in more than five years. The state rate is 8.3% and the national rate was 6.7% in December.

Consumer confidence has risen again. The Conference Board reported that the consumer confidence index increased to 80.7 this month from a downwardly revised 77.5 in December beating economists’ estimates of a 79 reading. The index is now higher than it was in September before the confidence-eroding government shutdown and is at its highest level since August. However the consumer sentiment gauge from the University of Michigan and Thomson Reuters registered a final reading of 81.2 in January, down from December’s 82.5. In December, consumer spending rose a seasonally adjusted 0.4% which was above analysts’ expectations of a 0.2% gain. Economists are predicting consumer spending will rise at least 2% over the course of the year.

The Commerce Department reported that sales of new U.S. homes decreased -7% to a 414,000 annualized pace in December, lower than was predicted by economists who predicted a 455,000 pace last month. For all of 2013, demand was up 16.4% to 428,000. The median sales price of a new home rose 4.6%  from December 2012 to $270,200.

New-housing demand has rebounded from a record-low 306,000 homes sold in 2011, the record peak was 1.28 million in 2005.
I would attribute this to very low inventory which is also causing rapid price increases.

The latest S&P/Case-Shiller Home Price Index shows that the 20-city composite rose 13.7% year over year through November 2013 while declining -0.1% from the previous month. Nine out of 20 cities recorded positive  monthly returns  including Los Angeles which saw a 0.1% increase.

★It is predicted that while housing prices will continue to rise, the pace of the rise will be slower in 2014.

The National Association of Realtor's reported that its Pending Home Sales Index dropped -8.7% last month to 92.4, the lowest level since October 2011. Contracts were down 8.8% from the December 2012 levels. It is believed that unusually harsh weather across the country caused the low numbers of potential buyers. The index in the West dropped 9.8%  in December to 85.7, and is 16.0%  below December 2012 and this is attributed to  the lack of inventory in the market.

It seems we are beginning to see another increase in prices and buyer demand. It also appears that 2014 will be much like 2013.

Here's a kick....We recently sold a home in Beverly Hills for $15 million that the buyer bought for $475,000 in 1976!
A valley home that just sold for $630,000 was purchased for $98,000 in 1980. Incredible huh?

So two questions remain...
The first, How high can prices go? The answer: Who knows! One thing is certain, they are definitely going up.
The 2nd is how long. Right now, I’d expect these gains to begin to level in a year or so.

If you're considering buying a home, I highly suggest you pull the trigger and get off the fence! Anyone who doesn't buy now will wish in 6 months that they did!  

Have a great weekend!!  (y)
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Stefen Lee Liberti

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Open House Today: 1-4pm
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Stefen Lee Liberti

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Stefen Lee Liberti

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Hey everyone,
Who already has a Dropbox account? If not, you can get one here...
It's one of my favorite "FREE" online services that syncs all your data storage (pics, video's and files) between your computer and phone.
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In his circles
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Residential Real Estate Sales.
Certified Negotiations Expert (CNE®)
  • Rodeo Realty Inc.
    REALTOR®, 2011 - present
    Real-Estate sales and market analysis. Strategic consulting, including business plan & sales strategy development. Brand development, web site traffic growth, web site UI and advertising revenue. Developed brand strategy and statistics systems.
  • NICO Construction
    Crew leader, 1996 - 2001
    Maintain safe work conditions and monitor employees work habits to ensure safety on the job. Scheduling equipment outages in order for personnel to perform maintenance tasks. Scheduling daily work assignments for personnel in order to perform work needed to maintain reliability and make most effective use of manpower.
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
West Hollywood, CA 90046
West Hollywood, CA 90069 - North Bergen, NJ - Saddlebrook, NJ - Studio City, CA - Bel Air, CA - Beverly Hills, CA - Valencia, Ca
Contact Information
West Hollywood, Ca 90046
202 N. Canon Dr. Beverly Hills, CA 90210
Stefen Lee Liberti is a Luxury Residential Real Estate Agent with Rodeo Realty Beverly Hills.
Stefen Lee Liberti is committed to making his clients a top priority. He provides an unparalleled level of service by thoroughly listening to his clients needs and concerns and offers expert guidance, personalized solutions and will masterfully negotiate the most profitable deal.

★ My longstanding reputation, willingness to go above and beyond your expectation married with my Firm's aggressive and state of the
art marketing will net my clients their just compensation.

★ Dedicated to my profession I belong to many prestigious organizations:

★ The National Association of Realtors.
★ The California Association of Realtors.
★ The Screen Actors Guild.
★ The Beverly Hills Greater Los Angele Association of Realtors.

I will offer the personal and professional attention you require, all the while maintaining and respecting your privacy and treating your transaction with the utmost integrity.

Whether my client is a first time buyer, a sophisticated corporate transfer or a high profile international investor, I will provide the highest level of professional service and representation.

Hailing from New Jersey, I moved out to LA to pursue an Acting career and became SAG almost instantly. With parts on Television, Movies and some Theater. I maintain my love of the arts but enjoy the dynamics which Real Estate offers.
Bragging rights
  • Bergen Community College
    psychology, 1992 - 1994
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