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This buyer tour booklet lists all the condos open in Westwood on Sunday September 7th, 2014.
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Cloud CMA
Buyer Tour
PREPARED FOR
Westwood Condos Open House 9 7 14 pt 2
SEPTEMBER 7, 2014
INFOCloud CMA
The Homebuying Process
Follow These Steps
Get prequalified - Your lender will look at your income, credit scores, revolving debts, obligations such as child supportas well as the type of loan you choose. Other factors that impact how much home you can buy is the down payment;smaller down payments mean higher monthly payments. Last, the interest rate and terms (30-year, fixed or adjustablerate) will determine what you can afford in monthly payments.
Make your wish list - Decide where you want to live and how many bedrooms and baths you’ll need. Consider lifestyle -condominiums offer shared amenities, with little responsibility. Single-family homes offer more space and privacy, butmuch more exterior and yard maintenance.
Hire a real estate professional - Your real estate professional should be expert in the area where you want to live andfamiliar with the type of home you want to buy. Your agent has house-by-house experience in your neighborhood andcan offer the best advice on homes in your range.
Select your home - No home is perfect, so don’t let minor flaws influence you. Think long-term. Which home best suitsthe activities and needs of your household now and in the years ahead? Don’t buy more than you need or cancomfortably afford.
Make an offer - Your offer depends on the current market. If a home has been on the market a long time, you can askthe seller for a price reduction, but if it’s new on the market, the seller is unlikely to accept a low offer. Ask your realestate professional for advice.
Get an inspection - A home inspection is a professional third-party opinion of the home’s condition. The inspector willpoint out the age of systems, and large and small repairs that are needed, so you’ll know what you’re facing as the nextowner.
Get an appraisal - The bank appraisal determines market value. If the home doesn’t appraise for the purchase price, thebank will refuse to make the loan unless you renegotiate with the seller. If it appraises, the lender will move towardclosing.
Go to closing - Once final negotiations are complete, the parties to the transaction meet at the escrow office. This couldbe a title company, real estate attorney, or whatever is customary in your area. All paperwork is signed by both parties.The lender pays the seller, minus any liens against the home such as the seller’s mortgage. Once all the disbursementshave been made, you get the keys to your new home, according to your agreement. Congratulations! You’re ready tomove into your new home
LISTINGSCloud CMA
Map of All Listings
MLS # Status Address Price
1 14788595 A 1250 S BEVERLY GLEN, Unit 209, Los Angeles $585,000
2 14786125 A 10747 WILSHIRE, Unit 1007, Los Angeles $580,000
3 14767335 A 1250 S BEVERLY GLEN, Unit 105, Los Angeles $550,000
4 14789285 A 650 KELTON AVE, Unit 402, Los Angeles $549,000
5 14790525 A 10501 WILSHIRE BLVD, Unit 906, Los Angeles $488,500
6 14787281 A 440 N VETERAN AVE, Unit 204, Los Angeles $475,000
Status: A = Active
MLS#14788595
Cloud CMA
Property Details
$585,0001250 S BEVERLY GLEN, Unit 209, Los Angeles
Courtesy of Keller Williams Rlty-Marina/LALISTING INFORMATION
MLS#: 14788595 Beds: 2 Sq Ft: 1,300 List Date: 8/29/14
Status: Active Baths: 2/0 Year Built: 1972 DOM: 9
FEATURES
Status details: Active; Appliances: Dishwasher,Garbage Disposal,Refrigerator; Floors: Laminated,Tile (N);Assoc name: Westwood Glen; Assoc amenities: Assoc Maintains Landscape,Banquet Facilities,BilliardRoom,Controlled Access,Gym/Ex Room,Gated Parking,Meeting Room,Sauna; Cooling: Central A/C; Heating:Central Furnace; View: Other View; TB map code: 632C2; Zoning: LAR3; Pool: Association Pool,Heated AndFiltered (N); Spa: Association Spa; Patio: Covered Porch; CDOM: 99; Number of units: 48; HOA: $455;Lotsize: 28675;
REMARKS
Quiet Beverly Glen condo with amazing upgrades throughout! Updated kitchen with newer cabinets, quartz countertops, stainless steel appliances and breakfast bar opens to large dining room, living room with porcelain tile fireplaceand outdoor terrace with Cumaru flooring. Spacious bedroom suites, master bath with quartz counters. Amenitiesinclude elevator, sparkling pool, gym, sauna, recreation room, indoor spa and billiards room. Two side by sideparking spaces. Pet friendly building. Centrally located near UCLA, Westwood, Beverly Hills and Century City.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14788595
How do you rate this property?
Cloud CMA
Buyer Comments
$585,0001250 S BEVERLY GLEN, Unit 209, Los Angeles
Courtesy of Keller Williams Rlty-Marina/LALISTING INFORMATION
MLS#: 14788595 Beds: 2 Sq Ft: 1,300 List Date: 8/29/14
Status: Active Baths: 2/0 Year Built: 1972 DOM: 9
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14788595
Cloud CMA
Listing Photos
$585,0001250 S BEVERLY GLEN, Unit 209, Los Angeles
MLS#14788595
Cloud CMA
More Listing Photos
$585,0001250 S BEVERLY GLEN, Unit 209, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$585,0001250 S BEVERLY GLEN, Unit 209, Los Angeles
Name Type Distance Rating
Komodo Cafe Asian Fusion, American (New) 0.67 mi584 reviews
A Food Affair French, American (New) 0.69 mi276 reviews
The Honor Bar Bars, Sandwiches, Burgers 0.76 mi483 reviews
Urasawa Japanese 0.87 mi391 reviews
Totoraku Japanese 1.75 mi192 reviews
Yamakase Japanese, Sushi Bars 2.06 mi80 reviews
My Two Cents Soul Food, American (New) 2.09 mi247 reviews
Four Cafe American (New), Salad, Burgers 2.1 mi121 reviews
Mo Better Burgers Burgers 2.85 mi184 reviews
Taqueria Los Anaya Mexican 3.46 mi315 reviews
Hong Galbi Korean, Barbeque 5.22 mi112 reviews
Joe's Falafel Mediterranean 5.8 mi690 reviews
MLS#14786125
Cloud CMA
Property Details
$580,00010747 WILSHIRE, Unit 1007, Los Angeles
Courtesy of Pacific Paradise RealtyLISTING INFORMATION
MLS#: 14786125 Beds: 2 Sq Ft: 974 List Date: 8/16/14
Status: Active Baths: 2/0 Year Built: 1972 DOM: 22
FEATURES
Status details: Active; Appliances: Dishwasher,Garbage Disposal; Interior: Elevator; Floors: CeramicTile,Hardwood; Assoc name: Selby - Wilshire Tower; Assoc amenities: Controlled Access; Cooling: AirConditioning; Heating: Central Furnace; View: Canyon View,City View,Coastline View; TB map code: 632B3;Zoning: LAR5; Pool: Community Pool; CDOM: 22; Number of units: 90; HOA: $560; Lotsize: 17837;
REMARKS
BEST VALUE CONDOMINIUM W PANOROMIC BREATHTAKING VIEW OF CITY, OCEAN & GETTY. VERYBRIGHT. NEW HARDWOOD FLOOR, INCREDIBLE NORTH (REAR) FACING 2 BEDROOM + 1.5BATHROOM, ONE OF THE BEST FLOOR PLANS AND VIEWS AVAILABLE IN WILSHIRE SELBY EAST, THISAPPROX. 974 S.F. CORNER UNIT FEATURES AN OPEN LIVING ROOM/DINING AREA, UPGRADEDKITCHEN W GRANITE COUNTER-TOP, TILE FLOOR, , BALCONIES ACCESSIBLE FROM THE MASTERAND LIVING ROOM, LARGE MASTER BEDROOM WITH EN SUITE BATHROOM AND WALK-IN CLOSET.BUILDING AMENITIES INCLUDE FORMAL LOBBY, DOORMAN, 2 SECURE PARKING SPACES, POOL,SAUNA, EXTRA STORAGE N ONE OF THE LOWEST HOA DUES ON THE CORRIDOR WHICH INCLUDEBASIC CABLE, WATER/SEWER AND BUILDING AMENITIES ($560/MTH). THIS IS THE CONDOMINIUMW GREAT LOCATION, CLOSE TO UCLA, BEVERLY HILLS, N WESTWOOD VILLAGE. W THEMAGNIFICENT VIEW YOU HAVE BEEN LOOKING FOR.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14786125
How do you rate this property?
Cloud CMA
Buyer Comments
$580,00010747 WILSHIRE, Unit 1007, Los Angeles
Courtesy of Pacific Paradise RealtyLISTING INFORMATION
MLS#: 14786125 Beds: 2 Sq Ft: 974 List Date: 8/16/14
Status: Active Baths: 2/0 Year Built: 1972 DOM: 22
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14786125
Cloud CMA
Listing Photos
$580,00010747 WILSHIRE, Unit 1007, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$580,00010747 WILSHIRE, Unit 1007, Los Angeles
Name Type Distance Rating
Totoraku Japanese 1.5 mi192 reviews
Urasawa Japanese 2.18 mi391 reviews
The Honor Bar Bars, Sandwiches, Burgers 2.27 mi483 reviews
Yamakase Japanese, Sushi Bars 2.66 mi80 reviews
The Wilde Thistle Cafes, Pubs 2.85 mi43 reviews
Komodo Cafe Asian Fusion, American (New) 3.11 mi584 reviews
A Food Affair French, American (New) 3.11 mi276 reviews
Santouka Ramen Ramen 3.84 mi1629 reviews
Tar & Roses American (New) 4.31 mi1012 reviews
My Two Cents Soul Food, American (New) 4.53 mi247 reviews
The Harvest Bar Breakfast & Brunch, Juice Bars & Smoothies, Coffee & Tea 6.49 mi78 reviews
Outlaws Cafe American (Traditional), Burgers 8.48 mi624 reviews
MLS#14767335
Cloud CMA
Property Details
$550,0001250 S BEVERLY GLEN, Unit 105, Los Angeles
Courtesy of Berkshire Hathaway HomeServices California PropertiesLISTING INFORMATION
MLS#: 14767335 Beds: 2 Sq Ft: 1,301 List Date: 6/5/14
Status: Active Baths: 1/1/0/0 Year Built: 1972 DOM: 94
FEATURES
Status details: Active; Appliances: Dishwasher,Garbage Disposal,Refrigerator; Interior: Elevator; Floors:Laminated,Mixed (N); Assoc name: Westwood Glen; Assoc amenities: Controlled Access,Gym/Ex Room,Sauna;Cooling: Central A/C; Heating: Central Furnace; View: No View; TB map code: 632C2; Pool: CommunityPool,Association Pool; Spa: Association Spa; CDOM: 94; Number of units: 48; HOA: $456;
REMARKS
***BEST VALUE IN WESTWOOD*** MAJOR PRICE REDUCTION!...STUNNING, NEWLY RENOVATED 2BEDROOM, 1.75 BATH CONDO, JUST SOUTH OF WILSHIRE BLVD. SPACIOUS UNIT WITH SPLITBEDROOM SUITES FLOOR PLAN, OPEN LIVING/DINING AREA, FIREPLACE AND LARGE BALCONY.COMPLETELY REMODELED WITH ELEGANT FINISHES, STYLISH BATHROOMS, RECESSED LIGHTING,HARDWOOD STYLE LAMINATE FLOORING AND CROWN MOLDINGS THROUGHOUT. COOK'SKITCHEN WITH BREAKFAST BAR, CEASARSTONE COUNTERTOPS, NEW CABINETS AND BOSCHAPPLIANCES. THE MASTER SUITE HAS MULTIPLE CLOSETS, ONE OF WHICH IS A WALK-IN. CENTRALAIR/HEAT. GREAT BUILDING AMENITIES INCLUDE POOL, INDOOR SPA, GYM, SAUNA, ANDBILLIARDS ROOM. HOA DUES INCLUDE EARTHQUAKE INSURANCE. EXCELLENT LOCATION CLOSETO CENTURY CITY AND BEVERLY HILLS.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14767335
How do you rate this property?
Cloud CMA
Buyer Comments
$550,0001250 S BEVERLY GLEN, Unit 105, Los Angeles
Courtesy of Berkshire Hathaway HomeServices California PropertiesLISTING INFORMATION
MLS#: 14767335 Beds: 2 Sq Ft: 1,301 List Date: 6/5/14
Status: Active Baths: 1/1/0/0 Year Built: 1972 DOM: 94
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14767335
Cloud CMA
Listing Photos
$550,0001250 S BEVERLY GLEN, Unit 105, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$550,0001250 S BEVERLY GLEN, Unit 105, Los Angeles
Name Type Distance Rating
Komodo Cafe Asian Fusion, American (New) 0.67 mi584 reviews
A Food Affair French, American (New) 0.69 mi276 reviews
The Honor Bar Bars, Sandwiches, Burgers 0.76 mi483 reviews
Urasawa Japanese 0.87 mi391 reviews
Totoraku Japanese 1.75 mi192 reviews
Yamakase Japanese, Sushi Bars 2.06 mi80 reviews
My Two Cents Soul Food, American (New) 2.09 mi247 reviews
Four Cafe American (New), Salad, Burgers 2.1 mi121 reviews
Mo Better Burgers Burgers 2.85 mi184 reviews
Taqueria Los Anaya Mexican 3.46 mi315 reviews
Hong Galbi Korean, Barbeque 5.22 mi112 reviews
Joe's Falafel Mediterranean 5.8 mi690 reviews
MLS#14789285
Cloud CMA
Property Details
$549,000650 KELTON AVE, Unit 402, Los Angeles
Courtesy of KE Capital, Inc.LISTING INFORMATION
MLS#: 14789285 Beds: 2 Sq Ft: 1,148 List Date: 8/20/14
Status: Active Baths: 2/0 Year Built: 1991 DOM: 18
FEATURES
Status details: Active; Floors: Carpet,Other; Assoc name: 650 Kelton; Assoc amenities: Controlled Access;Cooling: Central A/C; Heating: Central Furnace; View: No View; TB map code: 632A2; Zoning: LAR4;Pool: No Pool; CDOM: 18; Number of units: 9; HOA: $350; Lotsize: 8937;
REMARKS
Location! Location! Location! This condo lies in the heart of Westwood, near UCLA, shopping, entertainment. Its ahappening and young spot full of energy. Rarely is a property is brought on the market to be sold. Unit requiressome repair and maintenance. There is a student tenant with a lease until September 15, 2015 paying $2240 permonth.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14789285
How do you rate this property?
Cloud CMA
Buyer Comments
$549,000650 KELTON AVE, Unit 402, Los Angeles
Courtesy of KE Capital, Inc.LISTING INFORMATION
MLS#: 14789285 Beds: 2 Sq Ft: 1,148 List Date: 8/20/14
Status: Active Baths: 2/0 Year Built: 1991 DOM: 18
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14789285
Cloud CMA
Listing Photos
$549,000650 KELTON AVE, Unit 402, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$549,000650 KELTON AVE, Unit 402, Los Angeles
Name Type Distance Rating
Totoraku Japanese 2.33 mi192 reviews
Urasawa Japanese 2.99 mi391 reviews
The Honor Bar Bars, Sandwiches, Burgers 3.09 mi483 reviews
Yamakase Japanese, Sushi Bars 3.46 mi80 reviews
The Wilde Thistle Cafes, Pubs 3.66 mi43 reviews
Tar & Roses American (New) 4.0 mi1012 reviews
Komodo Cafe Asian Fusion, American (New) 4.01 mi584 reviews
A Food Affair French, American (New) 4.02 mi276 reviews
Santouka Ramen Ramen 4.32 mi1629 reviews
Sunny Blue Japanese, Ice Cream & Frozen Yogurt 4.8 mi657 reviews
The Harvest Bar Breakfast & Brunch, Juice Bars & Smoothies, Coffee & Tea 6.03 mi78 reviews
Outlaws Cafe American (Traditional), Burgers 8.12 mi624 reviews
MLS#14790525
Cloud CMA
Property Details
$488,50010501 WILSHIRE BLVD, Unit 906, Los Angeles
Courtesy of John Aaroe GroupLISTING INFORMATION
MLS#: 14790525 Beds: 1 Sq Ft: 771 List Date: 9/2/14
Status: Active Baths: 1/0 Year Built: 1963 DOM: 5
FEATURES
Status details: Active; Appliances: Refrigerator; Floors: Laminated; Assoc name: Wilshire Regent Association;Assoc amenities: Gym/Ex Room,Gym/Ex Room,Fitness Center,Meeting Room,Security; Cooling: AirConditioning; Heating: Central Furnace; View: City View,City Lights View; TB map code: 632C2; Zoning:LAR5; Pool: Association Pool; CDOM: 5; Number of units: 208; HOA: $557; Lotsize: 42193;
REMARKS
Why rent when you can own? Move-in ready 9th floor condo with incredible city views. High ceilings, walk-in closet,updated kitchen and bath in a fabulous and newly-remodeled full service building on the Wilshire Corridor.Building amenities include valet parking, meeting room, pool, gym, spa, sun deck, hotel-style guest rooms, security...the list goes on! Close to Beverly Hills, Westwood Village, UCLA, and the new iPic theaters!
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14790525
How do you rate this property?
Cloud CMA
Buyer Comments
$488,50010501 WILSHIRE BLVD, Unit 906, Los Angeles
Courtesy of John Aaroe GroupLISTING INFORMATION
MLS#: 14790525 Beds: 1 Sq Ft: 771 List Date: 9/2/14
Status: Active Baths: 1/0 Year Built: 1963 DOM: 5
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14790525
Cloud CMA
Listing Photos
$488,50010501 WILSHIRE BLVD, Unit 906, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$488,50010501 WILSHIRE BLVD, Unit 906, Los Angeles
Name Type Distance Rating
Totoraku Japanese 1.56 mi192 reviews
Urasawa Japanese 1.83 mi391 reviews
The Honor Bar Bars, Sandwiches, Burgers 1.92 mi483 reviews
Yamakase Japanese, Sushi Bars 2.71 mi80 reviews
Komodo Cafe Asian Fusion, American (New) 2.84 mi584 reviews
A Food Affair French, American (New) 2.87 mi276 reviews
The Wilde Thistle Cafes, Pubs 2.89 mi43 reviews
My Two Cents Soul Food, American (New) 4.27 mi247 reviews
Tar & Roses American (New) 4.71 mi1012 reviews
Taqueria Los Anaya Mexican 5.62 mi315 reviews
The Harvest Bar Breakfast & Brunch, Juice Bars & Smoothies, Coffee & Tea 6.32 mi78 reviews
Outlaws Cafe American (Traditional), Burgers 8.27 mi624 reviews
MLS#14787281
Cloud CMA
Property Details
$475,000440 N VETERAN AVE, Unit 204, Los Angeles
Courtesy of Keller Williams Rlty BrentwoodLISTING INFORMATION
MLS#: 14787281 Beds: 1 Sq Ft: 877 List Date: 8/20/14
Status: Active Baths: 1/0 Year Built: 1970 DOM: 18
FEATURES
Status details: Active; Appliances: Refrigerator; Interior: Bar; Floors: Bamboo,Carpet; Assoc name: Bel AirWest; Assoc amenities: Controlled Access; Cooling: Air Conditioning; Heating: Central Furnace; View: NoView; TB map code: 631J2; Zoning: LAR4; Pool: No Pool; CDOM: 18; Number of units: 31; HOA:$342; Lotsize: 15645;
REMARKS
Pied-a-terre near Westwood Village Beautiful tree lined residential neighborhood. Enter a spacious living room withfireplace, tall ceilings, wet bar, sliding glass doors open to a large balcony. Generous tiled dining area. Balcony offbedroom, 2 closets, hall sink plus full bath with separate tile shower stall, tub, and sink with granite counter tops.Hardwood floors in public areas conveniently located near UCLA.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14787281
How do you rate this property?
Cloud CMA
Buyer Comments
$475,000440 N VETERAN AVE, Unit 204, Los Angeles
Courtesy of Keller Williams Rlty BrentwoodLISTING INFORMATION
MLS#: 14787281 Beds: 1 Sq Ft: 877 List Date: 8/20/14
Status: Active Baths: 1/0 Year Built: 1970 DOM: 18
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14787281
Cloud CMA
Listing Photos
$475,000440 N VETERAN AVE, Unit 204, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$475,000440 N VETERAN AVE, Unit 204, Los Angeles
Name Type Distance Rating
Totoraku Japanese 2.59 mi192 reviews
Urasawa Japanese 3.1 mi391 reviews
The Honor Bar Bars, Sandwiches, Burgers 3.21 mi483 reviews
Yamakase Japanese, Sushi Bars 3.73 mi80 reviews
The Wilde Thistle Cafes, Pubs 3.92 mi43 reviews
Tar & Roses American (New) 4.14 mi1012 reviews
Komodo Cafe Asian Fusion, American (New) 4.17 mi584 reviews
A Food Affair French, American (New) 4.2 mi276 reviews
Santouka Ramen Ramen 4.59 mi1629 reviews
The Harvest Bar Breakfast & Brunch, Juice Bars & Smoothies, Coffee & Tea 5.78 mi78 reviews
BatterFish Irish, Fish & Chips, British 6.29 mi55 reviews
Outlaws Cafe American (Traditional), Burgers 7.87 mi624 reviews
INFOCloud CMA
What Are Your Homebuying Goals?
With the dramatic rise and fall of housing prices over the last decade, consumers have new respect for homes asinvestments. But the flip side, is that your investment is still a home, one you’re likely to occupy for several years ormore.
Ownership
According to the annual Profile of Home Buyers and Sellers, compiled by the National Association of REALTORS®, theprimary reason buyers cite for purchasing a home is simply the desire to own, followed closely by the desire for morespace, and a change in the family situation.
For most people, buying a home is more about giving household members more comfortable living arrangements andputting them closer to jobs, favorite activities, other family and friends. What are your goals for buying a home? Youmight want a better home and neighborhood. You might want a different kind of living experience, such as moving froman apartment to a single-family home with a private garage and yard. Your family may be growing, so you have to thinkabout school districts and proximity to parks and other recreation.
If you’re not certain, you might think about what would change about your situation if you became a homeowner. You’lldefinitely be more established. If you’re like most homebuyers, you expect to stay in your new home about 10 years.
Equity
You’ll also build equity for yourself, instead of for someone else. Every payment you make, plus the rules of inflation willeventually allow you to recoup most if not all of your investment, or make a profit when you sell. Affordability may alsobe an important factor for you. The combination of low interest rates and low prices allows you to buy more home forthe money. Rents are rising, making ownership more affordable than renting in many areas, especially when you factorin tax incentives such as mortgage interest deductions and property taxes allowable as deductions against your income.
When you buy, make your goals long-term. Choose the home you think will serve your household’s needs the best for thelongest period of time, as it’s been proven that the longer you own a home, the more equity you’ll build. Today’s marketconditions and affordability, make it more likely that you will reach your homebuying goals, no matter what they are.
INFOCloud CMA
How to Decide Which Home to Buy
Buying a home is a long-term commitment. The home you buy should be affordable, yet offer the size, features andamenities you and your family want.
Affordability
Your monthly payments should be comfortable for you to handle, in relationship to your total obligations, about 28%of gross monthly income. Your house payment and your debts should not exceed 36% of your income, includingrevolving credit, student loans, and child support. You should also be in the correct loan for your needs. A fixed rate ismore expensive, but offers more protection than an adjustable rate mortgage that can reset to a higher amount, makingyour monthly payments higher.
Also, consider the monthly operating costs of the home including utilities, HOA fees, landscaping, commuting, andother costs.
Location
Location is about convenience, and you’ll pay a premium to be closer to work centers, parks, shopping andtransportation. You can buy a smaller home, or you can buy a home in need of updates to get closer to where you needto be. Think about your commutes to frequent destinations, including jobs, schools, family and friends. To get “morehouse,” you may have to move further away from core city centers.
Features
Make a list of must-have features so you can narrow your home search. A front porch, a two-car garage, hardwood floors,and eat-in kitchen can all add to the enjoyment of your home. Just as important is how your home is designed. Thenumber of bedrooms and baths should suit your household members, and the layout should suit your lifestyle. If youlike to entertain, you should have plenty of dining space and storage for dishes and cookware. If you frequently work athome, you’ll need a home office or at least a quiet designated workspace. Just make sure the home you choose allowsroom for your family to grow.
Talk to your lender and see what you can qualify to buy, then talk with your real estate professional about the home youhave in mind. With professional guidance, you should be able to find and buy the home of your dreams, where you’ll behappy for a long time to come.
INFOCloud CMA
Making an Offer
Before you submit an offer, have your agent pull up the most recent sold comparables (CMA) within a reasonable radiusof the home, so you can compare the home fairly in terms of location, size, features, and amenities. Next, ask your agentabout market conditions, so you can choose a strategy.
Strategy
In a buyer’s market, discounts are common because there are fewer buyers, more properties for sale, and home prices aresoft or falling. In a seller’s market, homes sell quickly for full price or higher because there are plenty of buyers and fewhomes for sale. Whether you are in a buyer’s market or a seller’s market, your goal is to buy the home at a fair price. Ifyou were the seller, what is the lowest possible price you’d accept?
Risk
Low-balling the seller is risky. If the seller feels insulted by your offer, you’ve lost the opportunity to negotiate. On theother hand, some sellers are simply unrealistic about their home’s value. Maybe your offer will be their wake-up call. Ifthe seller’s home is offered at a reasonable price, pay asking price or close to it. A home priced to sell will sell quickly.
Is there a way to sweeten your offer with a quick closing or an all-cash sale? To show the seller you’re serious, include acopy of your lender’s pre-approval letter, along with a cover letter summarizing your strengths as a buyer in terms ofcreditworthiness, flexibility in closing, and why you love this home. Include a copy of your comparables to show whyyou feel your offer is a fair price for the property. If your offer is conditional, such as your need to sell another homebefore closing on the seller’s, you’ll have to find a way to sweeten the deal, such as a full-price offer. Few sellers wouldaccept a discount and a contingency at the same time.
Reward
Your real estate professional will help you draft the offer with a price, estimated closing date, and terms, includingearnest money (a guarantee that you’ll perform as a buyer in good faith), final approval by your lender, and your right tohave an inspection. Once your offer is negotiated and accepted, your earnest money will be sent to the escrow agent'soffice. Now the inspections occur, and this is where the contract negotiations can break down. During the inspectionprocess, the inspector will tell you about the condition of appliances, heat and cooling systems, roofs, electrical andplumbing systems, etc, and if your future home is up to current city codes. You should only renegotiate a repair when itwasn’t obvious before, or when a system is unsafe or not functioning. Once the seller has agreed, your offer is now abinding contract, and you’ll proceed to closing.
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Scott McIntoshColdwell Banker
BRE number 01759826
Mobile 310-500-6107
Web www.scott-mcintosh.com
E-mail [email protected]
Blog www.thewestwoodblog.com
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