westwood homes open house august 31st, 2014
DESCRIPTION
This buyer tour booklet lists all the homes open in Westwood on Sunday August 31st, 2014.TRANSCRIPT
Cloud CMA
Buyer Tour
PREPARED FOR
Westwood Homes Open House August 29th,2014
AUGUST 29, 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 14770289 A 11137 MONTANA AVE, Los Angeles $2,725,000
2 14775115 A 1035 WESTHOLME AVE, Los Angeles $2,649,000
3 14783651 A 463 S BENTLEY AVE, Los Angeles $2,295,000
4 14766131 A 2148 MANNING AVE, Los Angeles $1,399,500
5 14753927 A 2151 GLENDON AVE, Los Angeles $1,275,000
6 14776031 A 2264 PARNELL AVE, Los Angeles $1,149,000
Status: A = Active
MLS#14770289
Cloud CMA
Property Details
$2,725,00011137 MONTANA AVE, Los Angeles
Courtesy of Berkshire Hathaway HomeServices California PropertiesLISTING INFORMATION
MLS#: 14770289 Beds: 5 Sq Ft: 2,778 List Date: 6/18/14
Status: Active Baths: 3/0 Year Built: 1929 DOM: 72
FEATURES
Status details: Active; Appliances: Dishwasher,Dryer,Refrigerator,Washer; Exterior: Brick,Brick and Wood;Interior: Basement,Built-Ins,Turnkey; Kitchen: Counter Top; Floors: Hardwood; Roof: Composition; MelloRoos: Unknown; Cooling: Central A/C; Heating: Central Furnace; View: Mountain View,Tree Top View; TBmap code: 631J2; Zoning: LAR1; Pool: Heated,Private Pool; Spa: None; Patio: Patio Open; CDOM: 72;Lot description: Back Yard,Fenced Yard,Landscaped,Lawn,Yard; Lotsize: 12459;
REMARKS
Prominently positioned high above Montana Avenue in the well sought after Westwood Hills area of Los Angeles, isthe meticulously designed masterpiece by the talented Architect, Harry Hayden Whiteley. This stately 5 bedroom/3bathroom home embodies the warmth, style, and integrity from its original 1929 origin, and has been updated tohonor the contemporary flair of today. Upon entering the grand brick-laden entry you will discover; hardwood floorsthroughout, a formal living room with fireplace and French doors leading to a covered veranda, an elegant formaldining room that opens to both the kitchen and charming breakfast nook. 4 bedrooms upstairs overlook the lushlylandscaped front and back yards, expansive pool and cabana. This home was clearly designed for graciousentertaining, as evidenced by its decidedly understated noble appearance.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14770289
How do you rate this property?
Cloud CMA
Buyer Comments
$2,725,00011137 MONTANA AVE, Los Angeles
Courtesy of Berkshire Hathaway HomeServices California PropertiesLISTING INFORMATION
MLS#: 14770289 Beds: 5 Sq Ft: 2,778 List Date: 6/18/14
Status: Active Baths: 3/0 Year Built: 1929 DOM: 72
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14770289
Cloud CMA
Listing Photos
$2,725,00011137 MONTANA AVE, Los Angeles
MLS#14770289
Cloud CMA
More Listing Photos
$2,725,00011137 MONTANA AVE, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$2,725,00011137 MONTANA AVE, Los Angeles
Name Type Distance Rating
Totoraku Japanese 2.71 mi190 reviews
Urasawa Japanese 3.22 mi389 reviews
The Honor Bar Bars, Sandwiches, Burgers 3.32 mi478 reviews
Yamakase Japanese, Sushi Bars 3.84 mi79 reviews
The Wilde Thistle Cafes, Pubs 4.04 mi42 reviews
Tar & Roses American (New) 4.14 mi999 reviews
Komodo Cafe Asian Fusion, American (New) 4.29 mi582 reviews
A Food Affair French, American (New) 4.32 mi270 reviews
The Harvest Bar Breakfast & Brunch, Juice Bars & Smoothies, Coffee & Tea 5.71 mi74 reviews
Tatsu Ramen Ramen 6.49 mi108 reviews
Lakeside Cafe American (New), Coffee & Tea 6.64 mi63 reviews
Outlaws Cafe American (Traditional), Burgers 7.82 mi606 reviews
MLS#14775115
Cloud CMA
Property Details
$2,649,0001035 WESTHOLME AVE, Los Angeles
Courtesy of Sotheby's International RealtyLISTING INFORMATION
MLS#: 14775115 Beds: 5 Sq Ft: 4,050 List Date: 7/7/14
Status: Active Baths: 2/2/1/0 Year Built: 1951 DOM: 53
FEATURES
Status details: Active; Floors: Wood Under Carpet; Cooling: Air Conditioning; Heating: Central Furnace;View: City View; TB map code: 632C2; Zoning: LAR1; Patio: Covered Porch; CDOM: 53; Lot description:Fenced; Lotsize: 6888;
REMARKS
Walk down a stunning, tree-lined street to this showpiece home featuring 5 bedrooms, 4.5 baths. Perfectly manicuredoutdoor spaces, featuring grape vines, citrus trees & tiered grassy areas with drip irrigation. Home features gorgeouswood floors in common areas, and a desirable bedroom layout with new carpets, great closets & crown molding ineach. Master bedroom is bright and spacious looking out to the beautifully manicured garden area, with his and herswalk in closets and lovely bathroom. Cooks kitchen with stainless steel appliances, beautiful tile floors, gorgeouscounter tops and French doors leading to a lovely patio area. Plenty of room to entertain with formal dining room,and two living rooms with fireplaces, as well as a den. Enjoy the cedar-lined, 500+bottle wine cellar, and loads ofstorage throughout the home. A true oasis, sure to impress!
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14775115
How do you rate this property?
Cloud CMA
Buyer Comments
$2,649,0001035 WESTHOLME AVE, Los Angeles
Courtesy of Sotheby's International RealtyLISTING INFORMATION
MLS#: 14775115 Beds: 5 Sq Ft: 4,050 List Date: 7/7/14
Status: Active Baths: 2/2/1/0 Year Built: 1951 DOM: 53
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14775115
Cloud CMA
Listing Photos
$2,649,0001035 WESTHOLME AVE, Los Angeles
MLS#14775115
Cloud CMA
More Listing Photos
$2,649,0001035 WESTHOLME AVE, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$2,649,0001035 WESTHOLME AVE, Los Angeles
Name Type Distance Rating
Totoraku Japanese 1.55 mi190 reviews
Urasawa Japanese 1.96 mi389 reviews
The Honor Bar Bars, Sandwiches, Burgers 2.05 mi478 reviews
Yamakase Japanese, Sushi Bars 2.72 mi79 reviews
The Wilde Thistle Cafes, Pubs 2.9 mi42 reviews
Komodo Cafe Asian Fusion, American (New) 2.95 mi582 reviews
A Food Affair French, American (New) 2.97 mi270 reviews
My Two Cents Soul Food, American (New) 4.37 mi247 reviews
Tar & Roses American (New) 4.58 mi999 reviews
Tatsu Ramen Ramen 5.33 mi108 reviews
The Harvest Bar Breakfast & Brunch, Juice Bars & Smoothies, Coffee & Tea 6.35 mi74 reviews
Outlaws Cafe American (Traditional), Burgers 8.31 mi606 reviews
MLS#14783651
Cloud CMA
Property Details
$2,295,000463 S BENTLEY AVE, Los Angeles
Courtesy of Coldwell Banker Residential BrokerageLISTING INFORMATION
MLS#: 14783651 Beds: 3 Sq Ft: 2,532 List Date: 8/6/14
Status: Active Baths: 2/1/1/0 Year Built: 1940 DOM: 23
FEATURES
Status details: Active; Floors: Hardwood; Cooling: Central A/C; Heating: Central Furnace; View: No View;TB map code: 631J2; Zoning: LAR1; Patio: Patio Open; CDOM: 23; Lot description: Room for a Pool (N);Lotsize: 9827;
REMARKS
STUNNING REMODEL OF A CLASSIC & SPACIOUS 1STY TRADITIONAL. 3 BD 3.5BA + FULL GUESTHOUSE (OVER 900 SQ FT PER APPRAISER) AT THE REAR OF THE HUGE FLAT LOT. FAB NEWER KITCHAND BATHS. SUNLIT RMS WITH ELEGANT DARK WD FLRS, HI CLNGS, FRENCH DRS. KITCH/FAM RMCOMBINATION OPENS TO LARGE PRIVATE GRASSY YARD. GUEST HOUSE HAS 'GREAT' RM/FP/BA/KITCH/SEP YARD. REMARKABLE CURB APPEAL ON PREFERRED STREET IN THE WARNER AVENUEELEMENTARY DISTRICT PROXIMATE TO ALL AMENITIES!
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14783651
How do you rate this property?
Cloud CMA
Buyer Comments
$2,295,000463 S BENTLEY AVE, Los Angeles
Courtesy of Coldwell Banker Residential BrokerageLISTING INFORMATION
MLS#: 14783651 Beds: 3 Sq Ft: 2,532 List Date: 8/6/14
Status: Active Baths: 2/1/1/0 Year Built: 1940 DOM: 23
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14783651
Cloud CMA
Listing Photos
$2,295,000463 S BENTLEY AVE, Los Angeles
MLS#14783651
Cloud CMA
More Listing Photos
$2,295,000463 S BENTLEY AVE, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$2,295,000463 S BENTLEY AVE, Los Angeles
Name Type Distance Rating
Totoraku Japanese 2.71 mi190 reviews
Urasawa Japanese 3.37 mi389 reviews
The Honor Bar Bars, Sandwiches, Burgers 3.47 mi478 reviews
Yamakase Japanese, Sushi Bars 3.82 mi79 reviews
Tar & Roses American (New) 3.91 mi999 reviews
The Wilde Thistle Cafes, Pubs 4.02 mi42 reviews
Komodo Cafe Asian Fusion, American (New) 4.4 mi582 reviews
A Food Affair French, American (New) 4.42 mi270 reviews
Sunny Blue Japanese, Ice Cream & Frozen Yogurt 4.81 mi654 reviews
The Harvest Bar Breakfast & Brunch, Juice Bars & Smoothies, Coffee & Tea 5.89 mi74 reviews
Tatsu Ramen Ramen 6.67 mi108 reviews
Outlaws Cafe American (Traditional), Burgers 8.01 mi606 reviews
MLS#14766131
Cloud CMA
Property Details
$1,399,5002148 MANNING AVE, Los Angeles
Courtesy of Keller Williams Rlty BrentwoodLISTING INFORMATION
MLS#: 14766131 Beds: 3 Sq Ft: 2,400 List Date: 6/2/14
Status: Active Baths: 3/0 Year Built: 1928 DOM: 88
FEATURES
Status details: Active; Appliances: Dishwasher,Dryer,Garbage Disposal,Refrigerator,Washer; Floors:Carpet,Hardwood,Mixed (N),Slate; Cooling: Central A/C,Wall Unit(s),Ceiling Fan(s); Heating: CentralFurnace,Gravity Heating; View: Park Or Green Belt View; TB map code: 632D5; Zoning: LAR1; Spa: HotTub; CDOM: 88; Lotsize: 6751;
REMARKS
Large single story Spanish style home with front courtyard and private rear patio area. Very spacious livingroom offentryway with warming fireplace. Separate dining and breakfast rooms off the remodeled kitchen with newer highquality appliances. Family room and Master bedroom and master bathroom were added with permits in 2008.Separate office/guest house/casita in rear of property. Convenient to nearby restaurants, shops, movie theaters. Greatnearby schools. Agents Read Private Remarks
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14766131
How do you rate this property?
Cloud CMA
Buyer Comments
$1,399,5002148 MANNING AVE, Los Angeles
Courtesy of Keller Williams Rlty BrentwoodLISTING INFORMATION
MLS#: 14766131 Beds: 3 Sq Ft: 2,400 List Date: 6/2/14
Status: Active Baths: 3/0 Year Built: 1928 DOM: 88
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14766131
Cloud CMA
Listing Photos
$1,399,5002148 MANNING AVE, Los Angeles
MLS#14766131
Cloud CMA
More Listing Photos
$1,399,5002148 MANNING AVE, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$1,399,5002148 MANNING AVE, Los Angeles
Name Type Distance Rating
Totoraku Japanese 0.38 mi190 reviews
Yamakase Japanese, Sushi Bars 1.55 mi79 reviews
The Wilde Thistle Cafes, Pubs 1.73 mi42 reviews
Urasawa Japanese 2.03 mi389 reviews
The Honor Bar Bars, Sandwiches, Burgers 2.05 mi478 reviews
A Food Affair French, American (New) 2.43 mi270 reviews
Komodo Cafe Asian Fusion, American (New) 2.49 mi582 reviews
My Two Cents Soul Food, American (New) 3.83 mi247 reviews
Tar & Roses American (New) 4.31 mi999 reviews
Mendocino Farms Sandwiches 4.78 mi1162 reviews
Taqueria Los Anaya Mexican 4.96 mi306 reviews
Tatsu Ramen Ramen 5.32 mi108 reviews
MLS#14753927
Cloud CMA
Property Details
$1,275,0002151 GLENDON AVE, Los Angeles
Courtesy of Berkshire Hathaway HomeServices California PropertiesLISTING INFORMATION
MLS#: 14753927 Beds: 4 Sq Ft: 2,095 List Date: 4/24/14
Status: Active Baths: 3/0 Year Built: 1936 DOM: 127
FEATURES
Status details: Active; Appliances: Dishwasher,Water Filter; Floors: Mixed (N); Cooling: Other; Heating:Central Furnace; View: Tree Top View; TB map code: 632C5; Zoning: LAR1; Patio: Covered Porch,PatioOpen; CDOM: 127; Lotsize: 6759;
REMARKS
HUGE PRICE REDUCTION!!! Best value in prime Westwood area. Large 4BD/3BA single family home withinblocks from Westwood Charter. Additional detached studio with bathroom and private entry in backyard possiblywithout permits. 2-story main house with wide open living/dining rooms, 4 bedrooms including two master suites,and attached 2-car garage. French doors off kitchen opens to large outdoor/play area. Well cared for with double-pane windows throughout, new paint and landscaping. Move-in ready, a must see!
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14753927
How do you rate this property?
Cloud CMA
Buyer Comments
$1,275,0002151 GLENDON AVE, Los Angeles
Courtesy of Berkshire Hathaway HomeServices California PropertiesLISTING INFORMATION
MLS#: 14753927 Beds: 4 Sq Ft: 2,095 List Date: 4/24/14
Status: Active Baths: 3/0 Year Built: 1936 DOM: 127
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14753927
Cloud CMA
Listing Photos
$1,275,0002151 GLENDON AVE, Los Angeles
MLS#14753927
Cloud CMA
More Listing Photos
$1,275,0002151 GLENDON AVE, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$1,275,0002151 GLENDON AVE, Los Angeles
Name Type Distance Rating
Totoraku Japanese 0.51 mi190 reviews
Yamakase Japanese, Sushi Bars 1.57 mi79 reviews
The Wilde Thistle Cafes, Pubs 1.76 mi42 reviews
Urasawa Japanese 2.34 mi389 reviews
The Honor Bar Bars, Sandwiches, Burgers 2.36 mi478 reviews
A Food Affair French, American (New) 2.71 mi270 reviews
Santouka Ramen Ramen 2.75 mi1624 reviews
Komodo Cafe Asian Fusion, American (New) 2.78 mi582 reviews
Tar & Roses American (New) 4.0 mi999 reviews
Mendocino Farms Sandwiches 4.57 mi1162 reviews
Taqueria Los Anaya Mexican 5.18 mi306 reviews
Tatsu Ramen Ramen 5.63 mi108 reviews
MLS#14776031
Cloud CMA
Property Details
$1,149,0002264 PARNELL AVE, Los Angeles
Courtesy of RE/MAX ESTATE PROPERTIESLISTING INFORMATION
MLS#: 14776031 Beds: 2 Sq Ft: 1,403 List Date: 7/9/14
Status: Active Baths: 1/0 Year Built: 1932 DOM: 17
FEATURES
Status details: Active; Appliances: Dishwasher,Garbage Disposal,Refrigerator; Floors: Hardwood,Other; Roof:Clay Tile; Cooling: Central A/C; Heating: Central Furnace; View: Park Or Green Belt View; TB map code:632D5; Zoning: LAR1; CDOM: 17; Lotsize: 6066;
REMARKS
THIS CLASSIC SPANISH 2 BD/1BA IN RANCHO PARK HAS BEEN LOVINGLY MAINTAINED WITHFANTASTIC VINTAGE DETAILS AND BEAUTIFUL PROPORTIONED SPACES. ENTER THROUGHCHARMING COURTYARD WITH STUNNING CURVED DOOR. INSIDE FIND HARDWOOD FLOORSTHROUGHOUT, LARGE SUNNY LIVING ROOM WITH BEAMED CEILINGS, FIREPLACE, AND BUILT-INBOOKCASES. SPACIOUS DINING ROOM, BREAKFAST ROOM, AND ROOMY KITCHEN WITH SEPARATELAUNDRY ROOM. ART DECO LIGHT FIXTURES, CARVED AND STENCILED VINTAGE DOORS WITHORIGINAL HARDWARE WILL DELIGHT THOSE SEEKING UNIQUE ARTISTIC CHARACTER. TWO-CARDETACHED GARAGE PLUS CARPORT, BRICK PATIO IN BACK WITH LUSH FLOWER-FILLEDLANDSCAPED YARD. HOUSE IS BOLTED, PARTIAL COPPER PLUMBING, NEWER ROOF, AND CENTRALAC/HEAT.
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14776031
How do you rate this property?
Cloud CMA
Buyer Comments
$1,149,0002264 PARNELL AVE, Los Angeles
Courtesy of RE/MAX ESTATE PROPERTIESLISTING INFORMATION
MLS#: 14776031 Beds: 2 Sq Ft: 1,403 List Date: 7/9/14
Status: Active Baths: 1/0 Year Built: 1932 DOM: 17
Comments:
Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.
MLS#14776031
Cloud CMA
Listing Photos
$1,149,0002264 PARNELL AVE, Los Angeles
MLS#14776031
Cloud CMA
More Listing Photos
$1,149,0002264 PARNELL AVE, Los Angeles
COMMUNITYCloud CMA
Area Restaurants
$1,149,0002264 PARNELL AVE, Los Angeles
Name Type Distance Rating
Totoraku Japanese 0.23 mi190 reviews
Yamakase Japanese, Sushi Bars 1.4 mi79 reviews
The Wilde Thistle Cafes, Pubs 1.59 mi42 reviews
Urasawa Japanese 2.0 mi389 reviews
The Honor Bar Bars, Sandwiches, Burgers 2.0 mi478 reviews
A Food Affair French, American (New) 2.31 mi270 reviews
Komodo Cafe Asian Fusion, American (New) 2.38 mi582 reviews
My Two Cents Soul Food, American (New) 3.7 mi247 reviews
Tar & Roses American (New) 4.39 mi999 reviews
Mendocino Farms Sandwiches 4.71 mi1162 reviews
Taqueria Los Anaya Mexican 4.81 mi306 reviews
Tatsu Ramen Ramen 5.24 mi108 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]
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