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This buyer tour booklet lists all the homes open in Westwood on Sunday November 24th, 2013.
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Cloud CMA
Buyer Tour
PREPARED FOR
Westwood Homes Open House November 24th,2013
NOVEMBER 24, 2013
LISTINGSCloud CMA
Map of All Listings
MLS # Status Address Price
1 13685881 Active 10401 WYTON DR, Los Angeles $4,495,000
2 13673727 Active 850 THAYER AVE, Los Angeles $2,495,000
3 13687993 Active 10844 ROCHESTER AVE, Los Angeles $2,395,000
4 13706749 Active 11228 W SUNSET, Los Angeles $1,750,000
5 13719591 Active 1507 MALCOLM AVE, Los Angeles $1,299,000
MLS#13685881
Cloud CMA
Property Details
$4,495,00010401 WYTON DR, Los Angeles
Courtesy of Rodeo Realty - Beverly HillsLISTING INFORMATION
MLS#: 13685881 Beds: 9 Sq Ft: 7,371 List Date: Jul 15, 2013
Status: Active Baths: 6.00 Year Built: 1934 DOM: 132
FEATURES
Status details: Active; Appliances: Garbage Disposal; Kitchen: Pantry; Floors: Carpet,Hardwood; Cooling:Central A/C; Heating: Central Furnace; View: Hills View; TB map code: 632C1; Zoning: LAR1; Pool:Private Pool; Patio: Covered Porch; CDOM: 399; Number of units: 1; Lotsize: 21215;
REMARKS
Majestic estate in Little Holmby. The home is set back from the street on a beautiful knoll. It has a dramaticsweeping circular driveway, grand formal foyer and staircase. Living room. Family Room with Fireplace. MediaRoom with vaulted beamed ceiling. Formal dining room. Den/Office. Nine bedrooms. Six full baths, two powderbaths .Two master suites one with a sitting room, and the other with spa bathrooms. Very private garden and pool.Multiple patio and terrace spaces. Roof deck with amazing views.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13685881
How do you rate this property?
Cloud CMA
Buyer Comments
$4,495,00010401 WYTON DR, Los Angeles
Courtesy of Rodeo Realty - Beverly HillsLISTING INFORMATION
MLS#: 13685881 Beds: 9 Sq Ft: 7,371 List Date: Jul 15, 2013
Status: Active Baths: 6.00 Year Built: 1934 DOM: 132
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13685881
Cloud CMA
Listing Photos
$4,495,00010401 WYTON DR, Los Angeles
MLS#13685881
Cloud CMA
More Listing Photos
$4,495,00010401 WYTON DR, Los Angeles
COMMUNITY
Data provided by
Cloud CMA
Area Schools
$4,495,00010401 WYTON DR, Los Angeles
School Type Phone Distance
Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.25 mi
Sinai Akiba Academy Private/K-8 (310) 475-6401 0.57 mi
Marymount High School Los Angeles Private/9-12 (310) 472-1205 0.91 mi
Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.96 mi
Harvard-Westlake School - Middle School Private/PK, K-12 (310) 274-7281 1.04 mi
El Rodeo Elementary School Public/K-8 (310) 229-3670 1.29 mi
St Paul The Apostle School Private/K-8 (310) 474-1588 1.33 mi
Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 1.42 mi
Moreno High (Continuation) High School Alt./9-12 (310) 551-5100 1.54 mi
Beverly Hills High School Public/9-12 (310) 229-3685 1.65 mi
See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.
MLS#13673727
Cloud CMA
Property Details
$2,495,000850 THAYER AVE, Los Angeles
Courtesy of Sotheby's International RealtyLISTING INFORMATION
MLS#: 13673727 Beds: 5 Sq Ft: 0 List Date: May 20, 2013
Status: Active Baths: 4.00 Year Built: 1940 DOM: 188
FEATURES
Status details: Active; Appliances: Dishwasher,Dryer,Garbage Disposal,Refrigerator,Washer; Interior: Bar;Kitchen: Pantry; Floors: Hardwood; Cooling: None; Heating: Central Furnace; View: City Lights View; TBmap code: 632C2; Zoning: LAR1; Patio: Patio Open; CDOM: 188; Number of units: 1; Lotsize: 7497;
REMARKS
Stunning traditional two story in prime little Holmby. Completely remodeled with all todays modern conveniences.This beautiful home features 5 bedrooms including bonus room with 4 baths (square footage does not include thebonus room). The spacious formal living room with fireplace floors seemingly into the dinning room with Frenchdoors leading to a large deck that overlooks the grounds and views. Master suite has front facing terrace withfabulous walk-in closet with modern redone bath. The grounds are beautifully and meticulously landscaped and offera perfect setting for outdoor entertaining.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13673727
How do you rate this property?
Cloud CMA
Buyer Comments
$2,495,000850 THAYER AVE, Los Angeles
Courtesy of Sotheby's International RealtyLISTING INFORMATION
MLS#: 13673727 Beds: 5 Sq Ft: 0 List Date: May 20, 2013
Status: Active Baths: 4.00 Year Built: 1940 DOM: 188
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13673727
Cloud CMA
Listing Photos
$2,495,000850 THAYER AVE, Los Angeles
MLS#13673727
Cloud CMA
More Listing Photos
$2,495,000850 THAYER AVE, Los Angeles
COMMUNITY
Data provided by
Cloud CMA
Area Schools
$2,495,000850 THAYER AVE, Los Angeles
School Type Phone Distance
Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.31 mi
Sinai Akiba Academy Private/K-8 (310) 475-6401 0.38 mi
Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.49 mi
St Paul The Apostle School Private/K-8 (310) 474-1588 0.77 mi
Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.87 mi
Marymount High School Los Angeles Private/9-12 (310) 472-1205 0.97 mi
Global Montessori School Of WestwoodPrivate, Montessori/
PK,K1.2 mi
Westwood Elementary School Charter/K-5 (310) 474-7788 1.29 mi
El Rodeo Elementary School Public/K-8 (310) 229-3670 1.39 mi
Moreno High (Continuation) High School Alt./9-12 (310) 551-5100 1.54 mi
See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.
MLS#13687993
Cloud CMA
Property Details
$2,395,00010844 ROCHESTER AVE, Los Angeles
Courtesy of Nelson Shelton & AssociatesLISTING INFORMATION
MLS#: 13687993 Beds: 5 Sq Ft: 3,400 List Date: Jul 12, 2013
Status: Active Baths: 4.00 Year Built: DOM: 135
FEATURES
Status details: Active; Appliances: Dishwasher,Freezer,Garbage Disposal,Refrigerator; Floors: Hardwood;Cooling: Air Conditioning,Central A/C; Heating: Central Furnace,Fireplace; View: Other View; TB map code:632B3; Zoning: LAR1; CDOM: 135; Number of units: 1; Lotsize: 6305;
REMARKS
Buyer was not able to obtain the loan.so this would be your opportunity to be WELCOMED TO THISMASTERFULLY REBUILT 2 STORY CONTEMPORARY HOME LOCATED IN THE HEART OFWESTWOOD.THIS EXQUISITE PROPERTY IS BUILT WITH UTMOST QUALITY MATERIALS ANDWORKMANSHIP.LOCATED SOUTH OF WILSHIRE AND EAST OF WESTWOOD BLVD.ON A PRIMECORNER LOT ONLY BLOCKS FROM UCLA AND WESTWOOD VILLAGE.THIS IS AN EXCEPTIONALLYLUMINESCENT HOME WITH AN OPEN FLOOR PLAN, HIGH CEILINGS AND OVERSIZED FRONTENTRY.A FEW MORE ADDED BONUSES ARE TWO FIREPLACES,TOP OF THE LINE APPLIANCES IN ASTUNNING KITCHEN,WOOD FLOORS THROUGH OUT THE HOME AND AN OFFICE WHICH CANSERVE AS A FIFTH BEDROOM. ENJOY THE EXCITEMENT OF WESTWOOD WITH THE COMFORT OFMODERN LIVING. CERTIFICATE OF OCCUPANCY HAS BEEN ISSUED 07-18-2013.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13687993
How do you rate this property?
Cloud CMA
Buyer Comments
$2,395,00010844 ROCHESTER AVE, Los Angeles
Courtesy of Nelson Shelton & AssociatesLISTING INFORMATION
MLS#: 13687993 Beds: 5 Sq Ft: 3,400 List Date: Jul 12, 2013
Status: Active Baths: 4.00 Year Built: DOM: 135
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13687993
Cloud CMA
Listing Photos
$2,395,00010844 ROCHESTER AVE, Los Angeles
MLS#13687993
Cloud CMA
More Listing Photos
$2,395,00010844 ROCHESTER AVE, Los Angeles
COMMUNITY
Data provided by
Cloud CMA
Area Schools
$2,395,00010844 ROCHESTER AVE, Los Angeles
School Type Phone Distance
St Paul The Apostle School Private/K-8 (310) 474-1588 0.29 mi
Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.4 mi
Global Montessori School Of WestwoodPrivate, Montessori/
PK,K0.61 mi
Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.7 mi
Westwood Elementary School Charter/K-5 (310) 474-7788 0.92 mi
New Horizon School Westside Private/PK,K-5 (310) 231-6092 0.99 mi
Nora Sterry Elementary School Public/K-5 (310) 473-2172 1.0 mi
Sinai Akiba Academy Private/K-8 (310) 475-6401 1.02 mi
Warner Avenue Elementary School Public/K-5 (310) 475-5893 1.06 mi
St Sebastian School Private/1-8 (310) 473-3337 1.23 mi
See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.
COMMUNITYCloud CMA
Area Restaurants
$2,395,00010844 ROCHESTER AVE, Los Angeles
Name Type Distance Rating
Totoraku Japanese 1.41 mi154 reviews
Craft American (New) 1.49 mi1020 reviews
Da Pasquale Restaurant Italian, Pizza 2.04 mi230 reviews
Urasawa Japanese 2.41 mi350 reviews
Piccolo Paradiso Italian 2.48 mi115 reviews
Il Pastaio Restaurant Italian 2.48 mi417 reviews
Spago American (New), Asian Fusion, Japanese 2.58 mi913 reviews
Melisse French, Seafood 3.65 mi626 reviews
Haru Sushi Café Japanese, Sushi Bars 3.87 mi677 reviews
The Little Door French 4.33 mi946 reviews
Genwa Korean Bbq Korean, Barbeque 5.71 mi1269 reviews
Providence American (New), Seafood, Food Delivery Services 6.61 mi1499 reviews
MLS#13706749
Cloud CMA
Property Details
$1,750,00011228 W SUNSET, Los Angeles
Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION
MLS#: 13706749 Beds: 3 Sq Ft: 1,948 List Date: Sep 24, 2013
Status: Active Baths: 2.00 Year Built: 1957 DOM: 61
FEATURES
Status details: Active; Appliances: Freezer,Refrigerator; Floors: Carpet,Hardwood,Stone (N); Cooling: CentralA/C; Heating: Central Furnace; View: No View; TB map code: 631J1; Zoning: LAR1; Spa: Private Spa;Patio: Patio Open; CDOM: 61; Number of units: 1; Lotsize: 12064;
REMARKS
A rare period treasure by the iconic So Cal architects, Palmer & Krisel, who established the celebrated "Palm Springsstyle" of the 50's and 60's. The light-filled, comfortable & unpretentious space boasts many signature design featuresof the Era: simple lines & classic, relaxed, seamless indoor-outdoor flow. The elegant interior merges with maturetrees & abundant greenery, around the resort like pool & spa, providing for a California lifestyle, and year-roundalfresco entertaining. Living room is highlighted by signature exposed beam ceilings and magnificent architecturalstone wall, with floor to ceiling fireplace. A generous master suite with walk in closet, and limestone bath, flows tothe outdoors. Updated gourmet kitchen features Viking range, Granite counters, center island, abundant storage, andbuilt in wine fridge. Beyond a walled & double-gated circular drive, the home i...
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13706749
How do you rate this property?
Cloud CMA
Buyer Comments
$1,750,00011228 W SUNSET, Los Angeles
Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION
MLS#: 13706749 Beds: 3 Sq Ft: 1,948 List Date: Sep 24, 2013
Status: Active Baths: 2.00 Year Built: 1957 DOM: 61
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13706749
Cloud CMA
Listing Photos
$1,750,00011228 W SUNSET, Los Angeles
MLS#13706749
Cloud CMA
More Listing Photos
$1,750,00011228 W SUNSET, Los Angeles
COMMUNITY
Data provided by
Cloud CMA
Area Schools
$1,750,00011228 W SUNSET, Los Angeles
School Type Phone Distance
Community Magnet Charter Elementary School Charter/K-5 (310) 476-2281 0.6 mi
Brentwood School Private/K-12 (310) 476-9633 0.74 mi
Archer School For Girls Private/6-12 (310) 873-7000 0.87 mi
John Thomas Dye School Private/K-6 (310) 476-2811 1.02 mi
St Martin Of Tours Elementary School Private/K-8 (310) 472-7419 1.12 mi
Marymount High School Los Angeles Private/9-12 (310) 472-1205 1.15 mi
Brentwood Science Elementary School Magnet/K-5 (310) 826-5631 1.8 mi
Kenter Canyon Elementary School Charter/K-5 (310) 472-5918 1.85 mi
St Sebastian School Private/1-8 (310) 473-3337 1.87 mi
University Senior High School Public/8-12 (310) 914-3500 1.88 mi
See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.
COMMUNITYCloud CMA
Area Restaurants
$1,750,00011228 W SUNSET, Los Angeles
Name Type Distance Rating
Craft American (New) 2.85 mi1020 reviews
Totoraku Japanese 3.06 mi154 reviews
Da Pasquale Restaurant Italian, Pizza 3.1 mi230 reviews
Il Pastaio Restaurant Italian 3.49 mi417 reviews
Urasawa Japanese 3.52 mi350 reviews
Piccolo Paradiso Italian 3.63 mi115 reviews
Spago American (New), Asian Fusion, Japanese 3.69 mi913 reviews
Melisse French, Seafood 3.76 mi626 reviews
Haru Sushi Café Japanese, Sushi Bars 4.98 mi677 reviews
The Little Door French 5.4 mi946 reviews
Okumura Restaurant Sushi Bars, Japanese 6.66 mi97 reviews
Providence American (New), Seafood, Food Delivery Services 7.57 mi1499 reviews
MLS#13719591
Cloud CMA
Property Details
$1,299,0001507 MALCOLM AVE, Los Angeles
Courtesy of Coldwell Banker-BrentwoodLISTING INFORMATION
MLS#: 13719591 Beds: 2 Sq Ft: 1,659 List Date: Nov 22, 2013
Status: Active Baths: 2.00 Year Built: 1939 DOM: 2
FEATURES
Status details: Active; Appliances: Dryer,Garbage Disposal,Refrigerator,Washer; Floors: CeramicTile,Hardwood; Cooling: Ceiling Fan(s),Central A/C; Heating: Central Furnace; View: Tree Top View; TBmap code: 632B4; Zoning: LAR1; CDOM: 2; Number of units: 1; Lotsize: 6217;
REMARKS
Sited above the street sits this delightful 2 Bedroom 1.75 Bath Westwood home with center hall floor plan, step downliving room with 9' ceilings, crown molding, fireplace and bay window. The French doors of the family room opento the verdant back yard with amazing covered patio, fountain and deck with spa & tree top view. The updatedkitchen with breakfast area has an adjacent laundry room and bath. The home has hardwood floors and central heat& air. Agents please see private remarks.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13719591
How do you rate this property?
Cloud CMA
Buyer Comments
$1,299,0001507 MALCOLM AVE, Los Angeles
Courtesy of Coldwell Banker-BrentwoodLISTING INFORMATION
MLS#: 13719591 Beds: 2 Sq Ft: 1,659 List Date: Nov 22, 2013
Status: Active Baths: 2.00 Year Built: 1939 DOM: 2
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#13719591
Cloud CMA
Listing Photos
$1,299,0001507 MALCOLM AVE, Los Angeles
MLS#13719591
Cloud CMA
More Listing Photos
$1,299,0001507 MALCOLM AVE, Los Angeles
COMMUNITY
Data provided by
Cloud CMA
Area Schools
$1,299,0001507 MALCOLM AVE, Los Angeles
School Type Phone Distance
St Paul The Apostle School Private/K-8 (310) 474-1588 0.12 mi
Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.22 mi
Global Montessori School Of WestwoodPrivate, Montessori/
PK,K0.45 mi
Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.62 mi
Westwood Elementary School Charter/K-5 (310) 474-7788 0.75 mi
New Horizon School Westside Private/PK,K-5 (310) 231-6092 0.95 mi
Nora Sterry Elementary School Public/K-5 (310) 473-2172 0.97 mi
Sinai Akiba Academy Private/K-8 (310) 475-6401 1.0 mi
Warner Avenue Elementary School Public/K-5 (310) 475-5893 1.11 mi
St Sebastian School Private/1-8 (310) 473-3337 1.29 mi
See more information on Los Angeles schools from Education.com.©Education.com, Inc. 2010. Use is subject to Terms of Service.
COMMUNITYCloud CMA
Area Restaurants
$1,299,0001507 MALCOLM AVE, Los Angeles
Name Type Distance Rating
Totoraku Japanese 1.24 mi154 reviews
Craft American (New) 1.39 mi1020 reviews
Da Pasquale Restaurant Italian, Pizza 1.99 mi230 reviews
Urasawa Japanese 2.34 mi350 reviews
Piccolo Paradiso Italian 2.4 mi115 reviews
Il Pastaio Restaurant Italian 2.43 mi417 reviews
Spago American (New), Asian Fusion, Japanese 2.51 mi913 reviews
Melisse French, Seafood 3.67 mi626 reviews
Haru Sushi Café Japanese, Sushi Bars 3.78 mi677 reviews
The Little Door French 4.25 mi946 reviews
Genwa Korean Bbq Korean, Barbeque 5.61 mi1269 reviews
Providence American (New), Seafood, Food Delivery Services 6.53 mi1499 reviews
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
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
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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