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Buyer Tour PREPARED FOR Westwood Homes Open House Jan 26th 2014 JANUARY 25, 2014

Westwood Homes Open House January 26th, 2014

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This buyer tour booklet lists all the homes open in Westwood on Sunday January 26th, 2014.

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Page 1: Westwood Homes Open House January 26th, 2014

Cloud CMA

Buyer Tour

PREPARED FOR

Westwood Homes Open House Jan 26th 2014

JANUARY 25, 2014

Page 2: Westwood Homes Open House January 26th, 2014

LISTINGSCloud CMA

Map of All Listings

MLS # Status Address Price

1 SB14009810 A 430 Dalehurst Avenue, Los Angeles $3,350,000

2 14732079 A 10586 OHIO AVE, Los Angeles $2,049,000

3 14729001 A 10718 LINDBROOK DR, Los Angeles $1,699,000

4 14726953 A 259 BRONWOOD AVE, Los Angeles $1,595,000

5 14727217 A 1636 WARNALL AVE, Los Angeles $1,325,000

Status: A = Active

Page 3: Westwood Homes Open House January 26th, 2014

MLS#SB14009810

Cloud CMA

Property Details

$3,350,000430 Dalehurst Avenue, Los Angeles

Courtesy of Shorewood RealtorsLISTING INFORMATION

MLS#: SB14009810 Beds: 4 Sq Ft: 3,569 List Date: Jan 15, 2014

Status: Active Baths: 2/1/1/0 Year Built: 1928 DOM: 10

FEATURES

Status details: Active; Appliances: Dishwasher,Freezer,Garbage Disposal,Ice Maker,Refrigerator,TrashCompactor,Vented Exhaust Fan,Water Line to Refrigerator,Water Purifier; Exterior: Shingle (N); Interior: HighCeilings (9 Feet+),Sunken Living Room; Kitchen: Open to Family Room,Pantry; Floors: Carpet,Hardwood;Roof: Shake; Cooling: Central A/C,Zoned A/C; Heating: Central Furnace,Zoned; View: Trees/Woods View;TB map code: 632B1; Pool: Private Pool,Fenced,Filtered,Heated - Gas; Spa: Bath Tub; Patio: Brick,WrapAround Porch; CDOM: 10; Water: Meter on Property (N),Water District,Public;

REMARKS

Classic Cape Cod in "TRUE" Little Holmby Hills! First sale in 40 years. Dalehurst Avenue is distinguished for it'sincredible tranquility and extremely low traffic. AAA+ location just few blocks walking distance to WarnerElementary School, UCLA, Holmby Park, and Westwood Village. This fabulous property is only minutes fromBeverly Hills, Century City and Westwood Village.Tastefully remodeled this home is flooded w/natural light,warmth, charming throughout. Magnificent curb appeal situated on a 100' frontage facing Dalehurst & LomondAvenue's. This flat corner lot is the largest lot on the block (13,400 sq/ft) buyer to verify.*(3 Up & 1 Down) MasterSuite downstairs w/walk-in closet, separate Glass Steam Shower & Spa Tub, French doors open to private brick patio,country gardens, lawn, & swimming pool. 3 Bedrooms upstairs w/walk-in closets, 2 baths, and separate laundry room.Form...

Source: CARETS_MRMLSInformation is deemed reliable but not guaranteed.

Page 4: Westwood Homes Open House January 26th, 2014

MLS#SB14009810

How do you rate this property?

Cloud CMA

Buyer Comments

$3,350,000430 Dalehurst Avenue, Los Angeles

Courtesy of Shorewood RealtorsLISTING INFORMATION

MLS#: SB14009810 Beds: 4 Sq Ft: 3,569 List Date: Jan 15, 2014

Status: Active Baths: 2/1/1/0 Year Built: 1928 DOM: 10

Comments:

Source: CARETS_MRMLSInformation is deemed reliable but not guaranteed.

Page 5: Westwood Homes Open House January 26th, 2014

MLS#SB14009810

Cloud CMA

Listing Photos

$3,350,000430 Dalehurst Avenue, Los Angeles

Page 6: Westwood Homes Open House January 26th, 2014

MLS#SB14009810

Cloud CMA

More Listing Photos

$3,350,000430 Dalehurst Avenue, Los Angeles

Page 7: Westwood Homes Open House January 26th, 2014

COMMUNITY

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Area Schools

$3,350,000430 Dalehurst Avenue, Los Angeles

School Type Phone Distance

Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.3 mi

Marymount High School Los Angeles Private/9-12 (310) 472-1205 0.67 mi

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.73 mi

Harvard-Westlake School - Middle School Private/PK, K-12 (310) 274-7281 1.0 mi

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 1.05 mi

St Paul The Apostle School Private/K-8 (310) 474-1588 1.34 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 1.44 mi

El Rodeo Elementary School Public/K-8 (310) 229-3670 1.53 mi

Global Montessori School Of WestwoodPrivate, Montessori/

PK,K1.77 mi

Moreno High (Continuation) High School Alt./9-12 (310) 551-5100 1.77 mi

See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.

Page 8: Westwood Homes Open House January 26th, 2014

MLS#14732079

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Property Details

$2,049,00010586 OHIO AVE, Los Angeles

Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION

MLS#: 14732079 Beds: 4 Sq Ft: 2,453 List Date: Jan 24, 2014

Status: Active Baths: 3/0 Year Built: 1928 DOM: 1

FEATURES

Status details: Active; Appliances: Dishwasher,Dryer,Garbage Disposal,Refrigerator,Washer; Floors:Hardwood,Tile (N); Cooling: Central A/C; Heating: Central Furnace; View: No View; TB map code: 632C3;Pool: No Pool; CDOM: 1; Number of units: 1; Lotsize: 6499;

REMARKS

Elegantly remodeled 4BR, 3BA Spanish just a short distance to the Village in Westwood! This home boasts beautifulSpanish details throughout, hardwood floors, fireplace in living room with French doors leading out to the yard,large dining room, gourmet kitchen with stainless appliances, Wolf range, Carrara counters, breakfast bar which leadsto the yard, plus 4th bedroom and bath off the kitchen. Upstairs entails a master suite with cast iron claw foot tub,large closets and terrace, plus two other bedrooms and hall bath. Large lush yard with romantic outdoor dining,citrus trees and room for a pool! Two car detached garage. Newer electrical and newer plumbing.

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 9: Westwood Homes Open House January 26th, 2014

MLS#14732079

How do you rate this property?

Cloud CMA

Buyer Comments

$2,049,00010586 OHIO AVE, Los Angeles

Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION

MLS#: 14732079 Beds: 4 Sq Ft: 2,453 List Date: Jan 24, 2014

Status: Active Baths: 3/0 Year Built: 1928 DOM: 1

Comments:

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 10: Westwood Homes Open House January 26th, 2014

MLS#14732079

Cloud CMA

Listing Photos

$2,049,00010586 OHIO AVE, Los Angeles

Page 12: Westwood Homes Open House January 26th, 2014

COMMUNITY

Data provided by

Cloud CMA

Area Schools

$2,049,00010586 OHIO AVE, Los Angeles

School Type Phone Distance

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.12 mi

St Paul The Apostle School Private/K-8 (310) 474-1588 0.42 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.44 mi

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.56 mi

Westwood Elementary School Charter/K-5 (310) 474-7788 0.73 mi

Global Montessori School Of WestwoodPrivate, Montessori/

PK,K0.75 mi

Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.85 mi

St Timothy School Private/PK,K-8 (310) 474-1811 1.25 mi

Le Lycee Francais de Los Angeles-Century CityElementary School

Private/K-1 (310) 553-7444 1.33 mi

El Rodeo Elementary School Public/K-8 (310) 229-3670 1.34 mi

See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.

Page 13: Westwood Homes Open House January 26th, 2014

MLS#14729001

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Property Details

$1,699,00010718 LINDBROOK DR, Los Angeles

Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION

MLS#: 14729001 Beds: 3 Sq Ft: 2,824 List Date: Jan 17, 2014

Status: Active Baths: 3/0 Year Built: 1938 DOM: 8

FEATURES

Status details: Active; Appliances: Dishwasher,Garbage Disposal; Floors: Carpet,Hardwood,Tile (N); Cooling:None; Heating: Central Furnace; View: No View; TB map code: 632B3; Zoning: LAR1; Patio: Patio Open;CDOM: 8; Number of units: 1; Lotsize: 8101;

REMARKS

Set in much sought after Little Holmby is this well-maintained, spacious Traditional home with three large bedroomsand three baths. The light-filled Living Room is large with a bay window and central fireplace. Through a set ofFrench doors is a sunny Family Room with an expansive skylight and wet bar. This room opens to a warm wood-paneled Den charmed by a vaulted beamed ceiling and another fireplace on one end. The large Formal Dining Roomleads to a sweet and sunny Breakfast Room and beyond is the sparkling kitchen, recently refreshed. Adjacent is aLaundry Room and direct access to an attached two-car garage. The spacious backyard features a lovely patio withbuilt-in BBQ, sport court and grassy area. This home is located in the coveted Warner Avenue School District. OPENHOUSE SCHEDULE: 1/19 1-4; 1/21 11-2; 1/26 1-4 OFFERS REVIEWED BEGINNING 1/28

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 14: Westwood Homes Open House January 26th, 2014

MLS#14729001

How do you rate this property?

Cloud CMA

Buyer Comments

$1,699,00010718 LINDBROOK DR, Los Angeles

Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION

MLS#: 14729001 Beds: 3 Sq Ft: 2,824 List Date: Jan 17, 2014

Status: Active Baths: 3/0 Year Built: 1938 DOM: 8

Comments:

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 15: Westwood Homes Open House January 26th, 2014

MLS#14729001

Cloud CMA

Listing Photos

$1,699,00010718 LINDBROOK DR, Los Angeles

Page 17: Westwood Homes Open House January 26th, 2014

COMMUNITY

Data provided by

Cloud CMA

Area Schools

$1,699,00010718 LINDBROOK DR, Los Angeles

School Type Phone Distance

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.42 mi

St Paul The Apostle School Private/K-8 (310) 474-1588 0.47 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.59 mi

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.59 mi

Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.62 mi

Global Montessori School Of WestwoodPrivate, Montessori/

PK,K0.91 mi

Westwood Elementary School Charter/K-5 (310) 474-7788 1.06 mi

Marymount High School Los Angeles Private/9-12 (310) 472-1205 1.09 mi

New Horizon School Westside Private/PK,K-5 (310) 231-6092 1.42 mi

Nora Sterry Elementary School Public/K-5 (310) 473-2172 1.44 mi

See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.

Page 18: Westwood Homes Open House January 26th, 2014

MLS#14726953

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Property Details

$1,595,000259 BRONWOOD AVE, Los Angeles

Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION

MLS#: 14726953 Beds: 3 Sq Ft: 2,207 List Date: Jan 6, 2014

Status: Active Baths: 1/1/0/0 Year Built: 1940 DOM: 19

FEATURES

Status details: Active; Appliances: Dishwasher,Garbage Disposal; Floors: Hardwood,Tile (N); Cooling: None;Heating: Central Furnace; View: City View; TB map code: 631J1; Zoning: LAR1; Spa: None; CDOM: 19;Number of units: 1; Lotsize: 6856;

REMARKS

Here is a hearty slice of Americana. This evocative, two-story Colonial, vintage 1940, is classic in every sense w/ itshardwood floors, wonderful moldings, period windows & more. Anchored by a center fireplace, the Living Room isstately and grand and orients easily to the backyard. The Formal Dining Room, offering views out to the frontgarden through its bay window, opens to the recently redone cook's kitchen, crafted sensitively and tastefully w/ theexciting vintage feel first in mind. It is truly gorgeous and was a labor of love to create. Charming, wood paneled,convertible den and a bedroom en suite w/a bath. Ascend a sweeping magnasite staircase to two very spaciousupstairs bedrooms sharing a large center bath. Unobstructed views of the Getty. Out back, enjoy a fantastic patiocomplete w/ a lounging and al fresco dining area; this area really feels like another room in the ...

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 19: Westwood Homes Open House January 26th, 2014

MLS#14726953

How do you rate this property?

Cloud CMA

Buyer Comments

$1,595,000259 BRONWOOD AVE, Los Angeles

Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION

MLS#: 14726953 Beds: 3 Sq Ft: 2,207 List Date: Jan 6, 2014

Status: Active Baths: 1/1/0/0 Year Built: 1940 DOM: 19

Comments:

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 20: Westwood Homes Open House January 26th, 2014

MLS#14726953

Cloud CMA

Listing Photos

$1,595,000259 BRONWOOD AVE, Los Angeles

Page 21: Westwood Homes Open House January 26th, 2014

MLS#14726953

Cloud CMA

More Listing Photos

$1,595,000259 BRONWOOD AVE, Los Angeles

Page 22: Westwood Homes Open House January 26th, 2014

COMMUNITY

Data provided by

Cloud CMA

Area Schools

$1,595,000259 BRONWOOD AVE, Los Angeles

School Type Phone Distance

Brentwood School Private/K-12 (310) 476-9633 0.67 mi

Community Magnet Charter Elementary School Charter/K-5 (310) 476-2281 0.69 mi

Archer School For Girls Private/6-12 (310) 873-7000 0.79 mi

St Martin Of Tours Elementary School Private/K-8 (310) 472-7419 1.04 mi

John Thomas Dye School Private/K-6 (310) 476-2811 1.11 mi

Marymount High School Los Angeles Private/9-12 (310) 472-1205 1.19 mi

Brentwood Science Elementary School Magnet/K-5 (310) 826-5631 1.71 mi

St Sebastian School Private/1-8 (310) 473-3337 1.79 mi

University Senior High School Public/8-12 (310) 914-3500 1.79 mi

Kenter Canyon Elementary School Charter/K-5 (310) 472-5918 1.82 mi

See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.

Page 23: Westwood Homes Open House January 26th, 2014

MLS#14727217

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Property Details

$1,325,0001636 WARNALL AVE, Los Angeles

Courtesy of Gibson InternationalLISTING INFORMATION

MLS#: 14727217 Beds: 2 Sq Ft: 1,765 List Date: Jan 16, 2014

Status: Active Baths: 1/1/1/0 Year Built: 1925 DOM: 9

FEATURES

Status details: Active; Appliances: Dishwasher,Garbage Disposal,Refrigerator; Floors: Carpet; Roof: ClayTile,Flat Roof; Mello Roos: No; Cooling: Central A/C; Heating: Central Furnace; View: No View; TB mapcode: 632D3; Zoning: LAR1; Pool: No Pool; Spa: None; CDOM: 9; Number of units: 1; Lotsize: 7172;

REMARKS

Well maintained, single level and original home located in the coveted Comstock Hills neighborhood of Westwoodjust of East of Beverly Glen. The bright and open floor plan consists of a large formal living room with barrelvaulted ceiling and fireplace, sizable formal dining room, adjoining den/office with built-in cabinetry, masterbedroom with ample closet space, second en-suite guest bedroom, and cozy kitchen with breakfast nook and halfbath. In addition to the main residence, there is a detached rec room and bath off the extended garage. The aboveaverage lot is totally flat easily allowing for expansion. Conveniently located near Westwood, Century City andBeverly Hills, this is the perfect opportunity to restore this lovely home to its original luster or start from scratch andbuild your dream home. No showings until Sunday's open house.

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 24: Westwood Homes Open House January 26th, 2014

MLS#14727217

How do you rate this property?

Cloud CMA

Buyer Comments

$1,325,0001636 WARNALL AVE, Los Angeles

Courtesy of Gibson InternationalLISTING INFORMATION

MLS#: 14727217 Beds: 2 Sq Ft: 1,765 List Date: Jan 16, 2014

Status: Active Baths: 1/1/1/0 Year Built: 1925 DOM: 9

Comments:

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 25: Westwood Homes Open House January 26th, 2014

MLS#14727217

Cloud CMA

Listing Photos

$1,325,0001636 WARNALL AVE, Los Angeles

Page 26: Westwood Homes Open House January 26th, 2014

MLS#14727217

Cloud CMA

More Listing Photos

$1,325,0001636 WARNALL AVE, Los Angeles

Page 27: Westwood Homes Open House January 26th, 2014

COMMUNITY

Data provided by

Cloud CMA

Area Schools

$1,325,0001636 WARNALL AVE, Los Angeles

School Type Phone Distance

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.55 mi

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.6 mi

El Rodeo Elementary School Public/K-8 (310) 229-3670 0.68 mi

Moreno High (Continuation) High School Alt./9-12 (310) 551-5100 0.71 mi

Beverly Hills High School Public/9-12 (310) 229-3685 0.81 mi

Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.99 mi

Good Shepherd Catholic School Private/PK,K-8 (310) 275-8601 1.07 mi

Le Lycee Francais de Los Angeles-Century CityElementary School

Private/K-1 (310) 553-7444 1.08 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 1.08 mi

St Paul The Apostle School Private/K-8 (310) 474-1588 1.09 mi

See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.

Page 28: Westwood Homes Open House January 26th, 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

Page 29: Westwood Homes Open House January 26th, 2014

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.

Page 30: Westwood Homes Open House January 26th, 2014

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.

Page 31: Westwood Homes Open House January 26th, 2014

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.

Page 32: Westwood Homes Open House January 26th, 2014

INTRO

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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

Facebook http://www.facebook.com/agentscott

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Address 11999 San Vicente Blvd. Suite 100, LACA 90049

Office 310-979-3942

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