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Buyer Tour

PREPARED FOR

Westwood Homes Open House November 24th, 2013 NOVEMBER 24, 2013


LISTING

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 #136858

Property Details 10401 WYTON DR, Los Angeles

$4,495,000

LISTING INFORMATION

Courtesy of Rodeo Realty - Beverly Hills

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 dramatic sweeping circular driveway, grand formal foyer and staircase. Living room. Family Room with Fireplace. Media Room with vaulted beamed ceiling. Formal dining room. Den/Office. Nine bedrooms. Six full baths, two powder baths .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.

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #136858

Buyer Comments

10401 WYTON DR, Los Angeles

$4,495,000

LISTING INFORMATION

Courtesy of Rodeo Realty - Beverly Hills

MLS#: 13685881

Beds: 9

Sq Ft: 7,371

List Date: Jul 15, 2013

Status: Active

Baths: 6.00

Year Built: 1934

DOM: 132

How do you rate this property? Comments:

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #136858

Listing Photos 10401 WYTON DR, Los Angeles

$4,495,000


MLS #136858

More Listing Photos 10401 WYTON DR, Los Angeles

$4,495,000


COMMU

Area Schools 10401 WYTON DR, Los Angeles School

$4,495,000 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

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

Public/6-8

(310) 234-3100

1.42 mi

Alt./9-12

(310) 551-5100

1.54 mi

Public/9-12

(310) 229-3685

1.65 mi

Harvard-Westlake School - Middle School

Ralph Waldo Emerson Middle School Moreno High (Continuation) High School Beverly Hills High School See more information on Los Angeles schools from Education.com. ŠEducation.com, Inc. 2010. Use is subject to Terms of Service.

Data provided by


MLS #136737

Property Details 850 THAYER AVE, Los Angeles

$2,495,000

LISTING INFORMATION

Courtesy of Sotheby's International Realty

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; TB map 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 the bonus room). The spacious formal living room with fireplace floors seemingly into the dinning room with French doors leading to a large deck that overlooks the grounds and views. Master suite has front facing terrace with fabulous walk-in closet with modern redone bath. The grounds are beautifully and meticulously landscaped and offer a perfect setting for outdoor entertaining.

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #136737

Buyer Comments

850 THAYER AVE, Los Angeles

$2,495,000

LISTING INFORMATION

Courtesy of Sotheby's International Realty

MLS#: 13673727

Beds: 5

Sq Ft: 0

List Date: May 20, 2013

Status: Active

Baths: 4.00

Year Built: 1940

DOM: 188

How do you rate this property? Comments:

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #136737

Listing Photos 850 THAYER AVE, Los Angeles

$2,495,000


MLS #136737

More Listing Photos 850 THAYER AVE, Los Angeles

$2,495,000


COMMU

Area Schools 850 THAYER AVE, Los Angeles School

$2,495,000 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 Westwood

Private, Montessori/ PK,K

1.2 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

Alt./9-12

(310) 551-5100

1.54 mi

Moreno High (Continuation) High School See more information on Los Angeles schools from Education.com. ŠEducation.com, Inc. 2010. Use is subject to Terms of Service.

Data provided by


MLS #136879

Property Details 10844 ROCHESTER AVE, Los Angeles LISTING INFORMATION

$2,395,000 Courtesy of Nelson Shelton & Associates

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 THIS MASTERFULLY REBUILT 2 STORY CONTEMPORARY HOME LOCATED IN THE HEART OF WESTWOOD.THIS EXQUISITE PROPERTY IS BUILT WITH UTMOST QUALITY MATERIALS AND WORKMANSHIP.LOCATED SOUTH OF WILSHIRE AND EAST OF WESTWOOD BLVD.ON A PRIME CORNER LOT ONLY BLOCKS FROM UCLA AND WESTWOOD VILLAGE.THIS IS AN EXCEPTIONALLY LUMINESCENT HOME WITH AN OPEN FLOOR PLAN, HIGH CEILINGS AND OVERSIZED FRONT ENTRY.A FEW MORE ADDED BONUSES ARE TWO FIREPLACES,TOP OF THE LINE APPLIANCES IN A STUNNING KITCHEN,WOOD FLOORS THROUGH OUT THE HOME AND AN OFFICE WHICH CAN SERVE AS A FIFTH BEDROOM. ENJOY THE EXCITEMENT OF WESTWOOD WITH THE COMFORT OF MODERN LIVING. CERTIFICATE OF OCCUPANCY HAS BEEN ISSUED 07-18-2013.

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #136879

Buyer Comments

10844 ROCHESTER AVE, Los Angeles LISTING INFORMATION

$2,395,000 Courtesy of Nelson Shelton & Associates

MLS#: 13687993

Beds: 5

Sq Ft: 3,400

List Date: Jul 12, 2013

Status: Active

Baths: 4.00

Year Built:

DOM: 135

How do you rate this property? Comments:

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #136879

Listing Photos 10844 ROCHESTER AVE, Los Angeles

$2,395,000


MLS #136879

More Listing Photos 10844 ROCHESTER AVE, Los Angeles

$2,395,000


COMMU

Area Schools 10844 ROCHESTER AVE, Los Angeles School St Paul The Apostle School Ralph Waldo Emerson Middle School Global Montessori School Of Westwood Fairburn Avenue Elementary School

$2,395,000 Type

Phone

Distance

Private/K-8

(310) 474-1588

0.29 mi

Public/6-8

(310) 234-3100

0.4 mi

Private, Montessori/ PK,K

0.61 mi

Public/K-5

(310) 470-1344

0.7 mi

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

Westwood Elementary School

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

Data provided by


COMMU

Area Restaurants 10844 ROCHESTER AVE, Los Angeles Name

Type

$2,395,000 Distance

Totoraku

Japanese

1.41 mi

Craft

American (New)

1.49 mi

Da Pasquale Restaurant

Italian, Pizza

2.04 mi

Urasawa

Japanese

2.41 mi

Piccolo Paradiso

Italian

2.48 mi

Il Pastaio Restaurant

Italian

2.48 mi

Spago

American (New), Asian Fusion, Japanese

2.58 mi

Melisse

French, Seafood

3.65 mi

Haru Sushi CafĂŠ

Japanese, Sushi Bars

3.87 mi

The Little Door

French

4.33 mi

Genwa Korean Bbq

Korean, Barbeque

5.71 mi

Providence

American (New), Seafood, Food Delivery Services

6.61 mi

Rating 154 reviews 1020 reviews 230 reviews 350 reviews 115 reviews 417 reviews 913 reviews 626 reviews 677 reviews 946 reviews 1269 reviews 1499 reviews


MLS #137067

Property Details 11228 W SUNSET, Los Angeles

$1,750,000

LISTING INFORMATION

Courtesy of Berkshire Hathaway HomeServices California Propert

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: Central A/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 Springs style" of the 50's and 60's. The light-filled, comfortable & unpretentious space boasts many signature design features of the Era: simple lines & classic, relaxed, seamless indoor-outdoor flow. The elegant interior merges with mature trees & abundant greenery, around the resort like pool & spa, providing for a California lifestyle, and year-round alfresco entertaining. Living room is highlighted by signature exposed beam ceilings and magnificent architectural stone wall, with floor to ceiling fireplace. A generous master suite with walk in closet, and limestone bath, flows to the outdoors. Updated gourmet kitchen features Viking range, Granite counters, center island, abundant storage, and built in wine fridge. Beyond a walled & double-gated circular drive, the home i...

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #137067

Buyer Comments

11228 W SUNSET, Los Angeles

$1,750,000

LISTING INFORMATION

Courtesy of Berkshire Hathaway HomeServices California Propert

MLS#: 13706749

Beds: 3

Sq Ft: 1,948

List Date: Sep 24, 2013

Status: Active

Baths: 2.00

Year Built: 1957

DOM: 61

How do you rate this property? Comments:

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #137067

Listing Photos 11228 W SUNSET, Los Angeles

$1,750,000


MLS #137067

More Listing Photos 11228 W SUNSET, Los Angeles

$1,750,000


COMMU

Area Schools 11228 W SUNSET, Los Angeles

$1,750,000

School

Type

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. ŠEducation.com, Inc. 2010. Use is subject to Terms of Service.

Phone

Data provided by

Distance


COMMU

Area Restaurants 11228 W SUNSET, Los Angeles Name

$1,750,000 Type

Distance

Craft

American (New)

2.85 mi

Totoraku

Japanese

3.06 mi

Da Pasquale Restaurant

Italian, Pizza

3.1 mi

Il Pastaio Restaurant

Italian

3.49 mi

Urasawa

Japanese

3.52 mi

Piccolo Paradiso

Italian

3.63 mi

Spago

American (New), Asian Fusion, Japanese

3.69 mi

Melisse

French, Seafood

3.76 mi

Haru Sushi CafĂŠ

Japanese, Sushi Bars

4.98 mi

The Little Door

French

5.4 mi

Okumura Restaurant

Sushi Bars, Japanese

6.66 mi

Providence

American (New), Seafood, Food Delivery Services

7.57 mi

Rating 1020 reviews 154 reviews 230 reviews 417 reviews 350 reviews 115 reviews 913 reviews 626 reviews 677 reviews 946 reviews 97 reviews 1499 reviews


MLS #137195

Property Details 1507 MALCOLM AVE, Los Angeles LISTING INFORMATION

$1,299,000 Courtesy of Coldwell Banker-Brentwood

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: Ceramic Tile,Hardwood; Cooling: Ceiling Fan(s),Central A/C; Heating: Central Furnace; View: Tree Top View; TB map 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 down living room with 9' ceilings, crown molding, fireplace and bay window. The French doors of the family room open to the verdant back yard with amazing covered patio, fountain and deck with spa & tree top view. The updated kitchen with breakfast area has an adjacent laundry room and bath. The home has hardwood floors and central heat & air. Agents please see private remarks.

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #137195

Buyer Comments

1507 MALCOLM AVE, Los Angeles LISTING INFORMATION

$1,299,000 Courtesy of Coldwell Banker-Brentwood

MLS#: 13719591

Beds: 2

Sq Ft: 1,659

List Date: Nov 22, 2013

Status: Active

Baths: 2.00

Year Built: 1939

DOM: 2

How do you rate this property? Comments:

Information is deemed reliable but not guaranteed.

Source: CARETS_CLAW


MLS #137195

Listing Photos 1507 MALCOLM AVE, Los Angeles

$1,299,000


MLS #137195

More Listing Photos 1507 MALCOLM AVE, Los Angeles

$1,299,000


COMMU

Area Schools 1507 MALCOLM AVE, Los Angeles School St Paul The Apostle School Ralph Waldo Emerson Middle School Global Montessori School Of Westwood Fairburn Avenue Elementary School

$1,299,000 Type

Phone

Distance

Private/K-8

(310) 474-1588

0.12 mi

Public/6-8

(310) 234-3100

0.22 mi

Private, Montessori/ PK,K

0.45 mi

Public/K-5

(310) 470-1344

0.62 mi

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

Westwood Elementary School

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

Data provided by


COMMU

Area Restaurants 1507 MALCOLM AVE, Los Angeles Name

$1,299,000 Type

Distance

Totoraku

Japanese

1.24 mi

Craft

American (New)

1.39 mi

Da Pasquale Restaurant

Italian, Pizza

1.99 mi

Urasawa

Japanese

2.34 mi

Piccolo Paradiso

Italian

2.4 mi

Il Pastaio Restaurant

Italian

2.43 mi

Spago

American (New), Asian Fusion, Japanese

2.51 mi

Melisse

French, Seafood

3.67 mi

Haru Sushi CafĂŠ

Japanese, Sushi Bars

3.78 mi

The Little Door

French

4.25 mi

Genwa Korean Bbq

Korean, Barbeque

5.61 mi

Providence

American (New), Seafood, Food Delivery Services

6.53 mi

Rating 154 reviews 1020 reviews 230 reviews 350 reviews 115 reviews 417 reviews 913 reviews 626 reviews 677 reviews 946 reviews 1269 reviews 1499 reviews


INFO

The Homebuying Process Follow These Steps Get prequalified - Your lender will look at your income, credit scores, revolving debts, obligations such as child support as 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 adjustable rate) 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, but much 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 and familiar with the type of home you want to buy. Your agent has house-by-house experience in your neighborhood and can 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 suits the activities and needs of your household now and in the years ahead? Don’t buy more than you need or can comfortably afford. Make an offer - Your offer depends on the current market. If a home has been on the market a long time, you can ask the seller for a price reduction, but if it’s new on the market, the seller is unlikely to accept a low offer. Ask your real estate professional for advice. Get an inspection - A home inspection is a professional third-party opinion of the home’s condition. The inspector will point out the age of systems, and large and small repairs that are needed, so you’ll know what you’re facing as the next owner. Get an appraisal - The bank appraisal determines market value. If the home doesn’t appraise for the purchase price, the bank will refuse to make the loan unless you renegotiate with the seller. If it appraises, the lender will move toward closing. Go to closing - Once final negotiations are complete, the parties to the transaction meet at the escrow office. This could be 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 disbursements have been made, you get the keys to your new home, according to your agreement. Congratulations! You’re ready to move into your new home


INFO

What Are Your Homebuying Goals? With the dramatic rise and fall of housing prices over the last decade, consumers have new respect for homes as investments. But the flip side, is that your investment is still a home, one you’re likely to occupy for several years or more.

Ownership According to the annual Profile of Home Buyers and Sellers, compiled by the National Association of REALTORS®, the primary reason buyers cite for purchasing a home is simply the desire to own, followed closely by the desire for more space, and a change in the family situation. For most people, buying a home is more about giving household members more comfortable living arrangements and putting them closer to jobs, favorite activities, other family and friends. What are your goals for buying a home? You might want a better home and neighborhood. You might want a different kind of living experience, such as moving from an apartment to a single-family home with a private garage and yard. Your family may be growing, so you have to think about 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’ll definitely 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 will eventually allow you to recoup most if not all of your investment, or make a profit when you sell. Affordability may also be an important factor for you. The combination of low interest rates and low prices allows you to buy more home for the money. Rents are rising, making ownership more affordable than renting in many areas, especially when you factor in 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 the longest period of time, as it’s been proven that the longer you own a home, the more equity you’ll build. Today’s market conditions and affordability, make it more likely that you will reach your homebuying goals, no matter what they are.


INFO

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 and amenities 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, including revolving credit, student loans, and child support. You should also be in the correct loan for your needs. A fixed rate is more expensive, but offers more protection than an adjustable rate mortgage that can reset to a higher amount, making your monthly payments higher. Also, consider the monthly operating costs of the home including utilities, HOA fees, landscaping, commuting, and other costs.

Location Location is about convenience, and you’ll pay a premium to be closer to work centers, parks, shopping and transportation. You can buy a smaller home, or you can buy a home in need of updates to get closer to where you need to be. Think about your commutes to frequent destinations, including jobs, schools, family and friends. To get “more house,” 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. The number of bedrooms and baths should suit your household members, and the layout should suit your lifestyle. If you like to entertain, you should have plenty of dining space and storage for dishes and cookware. If you frequently work at home, you’ll need a home office or at least a quiet designated workspace. Just make sure the home you choose allows room 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 you have in mind. With professional guidance, you should be able to find and buy the home of your dreams, where you’ll be happy for a long time to come.


INFO

Making an Offer Before you submit an offer, have your agent pull up the most recent sold comparables (CMA) within a reasonable radius of the home, so you can compare the home fairly in terms of location, size, features, and amenities. Next, ask your agent about 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 are soft or falling. In a seller’s market, homes sell quickly for full price or higher because there are plenty of buyers and few homes 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. If you 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 the other hand, some sellers are simply unrealistic about their home’s value. Maybe your offer will be their wake-up call. If the 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 a copy of your lender’s pre-approval letter, along with a cover letter summarizing your strengths as a buyer in terms of creditworthiness, flexibility in closing, and why you love this home. Include a copy of your comparables to show why you feel your offer is a fair price for the property. If your offer is conditional, such as your need to sell another home before closing on the seller’s, you’ll have to find a way to sweeten the deal, such as a full-price offer. Few sellers would accept 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, including earnest money (a guarantee that you’ll perform as a buyer in good faith), final approval by your lender, and your right to have an inspection. Once your offer is negotiated and accepted, your earnest money will be sent to the escrow agent's office. Now the inspections occur, and this is where the contract negotiations can break down. During the inspection process, the inspector will tell you about the condition of appliances, heat and cooling systems, roofs, electrical and plumbing systems, etc, and if your future home is up to current city codes. You should only renegotiate a repair when it wasn’t obvious before, or when a system is unsafe or not functioning. Once the seller has agreed, your offer is now a binding contract, and you’ll proceed to closing.


INTRO

Contact Me Scott McIntosh Coldwell Banker

BRE number 01759826

Download this report (PDF)

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Mobile

310-500-6107

Web

www.scott-mcintosh.com

E-mail

scott@scott-mcintosh.com

Blog

www.thewestwoodblog.com

Facebook

http://www.facebook.com/agentscott

Twitter

https://twitter.com/#!/theagentscott

LinkedIn

http://www.linkedin.com/in/agentscott

Address

11999 San Vicente Blvd. Suite 100, LA CA 90049

Office

310-979-3942


Westwood Homes Open House November 24th, 2013