The stabilizing San Fernando Valley housing market has prompted a merger of two local real estate companies, A Team Realty of Woodland Hills and WG Financial of Canoga Park. The companies will retain their separate names.
A Team, founded in 2010, has 40 agents and concentrates its activity in the San Fernando and surrounding Valleys. It represents both residential and commercial properties for sale and lease.
Diana Alon, president and founder, said her company offers life coaching and daily meditation sessions for its agents in an effort to improve productivity. Her goal is to complete several additional mergers and have 150 agents by the end of this year, she said.
“We are committed to providing excellence through innovation and integrity, resulting in the continued success of our agents,” she said in a prepared statement.
WG Financial brought 11 agents into the combined company and moved its headquarters to Woodland Hills as part of the merger.
The deal takes place against the backdrop of a residential home market that is slowing as prices rise and foreclosure rates drop. William Roberts, director of the San Fernando Valley Economic Research Center at Cal State Northridge, said he expects housing prices to rise a modest 5 to 7 percent this year while sales continue to slack off from their post-recession pace.