Buyer Tour
PREPARED FOR
Westwood Homes Open House Superbowl Sunday Feb 1st, 2015 FEBRUARY 1, 2015
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
LISTING
Map of All Listings
MLS #
Status
Address
1
14-793681
A
10736 LE CONTE AVE, Los Angeles
$2,775,000
2
15-819395
A
10607 ROCHESTER AVE, Los Angeles
$2,199,000
3
14-808119
A
10748 LINDBROOK DR, Los Angeles
$2,195,000
4
14-790747
A
11231 HOMEDALE ST, Los Angeles
$2,179,000
5
15-822947
A
10764 ROCHESTER AVE, Los Angeles
$1,875,000
6
15-824433
A
2001 SELBY AVE, Los Angeles
$1,099,000
Status: A = Active
Price
MLS #14-7936
Property Details 10736 LE CONTE AVE, Los Angeles
$2,775,000
LISTING INFORMATION
Courtesy of Coldwell Banker Residential Brokerage
MLS#: 14-793681
Beds: 3
Sq Ft: 3,227
List Date: 9/13/14
Status: Active
Baths: 2/1
Year Built: 1934
DOM: 141
FEATURES Floors: Hardwood, Other Stories: 2 Cooling: Central Heating: Forced Air View: None Zoning: LAR1 Pool: None Lotsize: 6593 REMARKS The Little Holmby Jewel you have waited for! Regal and stately on the outside, picture-perfect on the inside. Fashionably remodeled throughout, with a fresh, young flair. Polished wood floors, glossy white trim, the most tasteful finishes. Every room drenched in sunlight. Gorgeous, living room with dining alcove and bar, opens to a happy sun-room. Splendid family room opens to deck and gardens. A fabulous, all new chef's kitchen with La Cornue range and cute dining banquette. Cozy library/den for reading or playing games. The large, seductive master has a stunning new bath. Two adorable guest rooms with a charming new bath between. A truly beautiful, yet informal home with spontaneous, inviting energy. Almost all new, with state of the art audio/visual system throughout and extensive security system with cameras. Pretty gardens with citrus and papaya trees, grassy yard. A big bonus is...
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-7936
Buyer Comments
10736 LE CONTE AVE, Los Angeles
$2,775,000
LISTING INFORMATION
Courtesy of Coldwell Banker Residential Brokerage
MLS#: 14-793681
Beds: 3
Sq Ft: 3,227
List Date: 9/13/14
Status: Active
Baths: 2/1
Year Built: 1934
DOM: 141
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-7936
Listing Photos 10736 LE CONTE AVE, Los Angeles
$2,775,000
MLS #14-7936
More Listing Photos 10736 LE CONTE AVE, Los Angeles
$2,775,000
COMMU
Area Restaurants 10736 LE CONTE AVE, Los Angeles Name
$2,775,000 Type
Distance
The Greenhouse
American (New), Salad
0.04 mi
Tanzy
Italian
0.33 mi
Garlo's Aussie Pie Shop
Australian, Bakeries
0.33 mi
Panini Cafe
Italian, Mediterranean
0.34 mi
Palomino
American (New), Mediterranean
0.36 mi
SEAS Cafe
Cafes
0.4 mi
800 Degrees Neapolitan Pizzeria
Pizza, Italian
0.41 mi
TLT Food
American (New)
0.43 mi
Ike's Place
Sandwiches
0.44 mi
Mesa Brazilian Eatery
Brazilian
0.47 mi
Emporium Thai Cuisine
Thai, Vegetarian, Southern
0.5 mi
Native Foods Cafe
Vegan, Vegetarian, American (New)
0.5 mi
Naab Cafe
Persian/Iranian, Halal, Hookah Bars
0.51 mi
Fundamental LA
American (New)
0.53 mi
Gushi
Korean
0.54 mi
Fat Sal's Deli
Delis, American (New), Burgers
0.54 mi
Rating 54 reviews 90 reviews 149 reviews 257 reviews 967 reviews 63 reviews 1623 reviews 564 reviews 195 reviews 81 reviews 536 reviews 905 reviews 159 reviews 586 reviews 692 reviews 587 reviews
MLS #15-8193
Property Details 10607 ROCHESTER AVE, Los Angeles
$2,199,000
LISTING INFORMATION
Courtesy of Keller Williams Beverly Hills
MLS#: 15-819395
Beds: 4
Sq Ft: 2,395
List Date: 1/6/15
Status: Active
Baths: 2/1/0/0
Year Built: 1948
DOM: 26
FEATURES Floors: Hardwood Stories: 2 Cooling: Air Conditioning Heating: Forced Air View: Tree Top Zoning: LAR1 Lotsize: 6503 REMARKS Sophisticated redone Traditional with gracious authentic period detail in prime Westwood neighborhood! Beautifully remodeled kitchen and baths, hardwood floors throughout and a huge family room with fireplace, that opens up to the lovely back yard. Formal dining room and expansive living room perfect for entertaining. A true master suite with ample closet space and en-suite bath. 800 square foot finished bonus room upstairs that is currently being used as an office and an upstairs living room. Walking distance to shopping, schools and places of worship. OPEN SUNDAY, Feb 1st, from 12:00pm until 3:00pm.
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #15-8193
Buyer Comments
10607 ROCHESTER AVE, Los Angeles
$2,199,000
LISTING INFORMATION
Courtesy of Keller Williams Beverly Hills
MLS#: 15-819395
Beds: 4
Sq Ft: 2,395
List Date: 1/6/15
Status: Active
Baths: 2/1/0/0
Year Built: 1948
DOM: 26
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #15-8193
Listing Photos 10607 ROCHESTER AVE, Los Angeles
$2,199,000
MLS #15-8193
More Listing Photos 10607 ROCHESTER AVE, Los Angeles
$2,199,000
COMMU
Area Restaurants 10607 ROCHESTER AVE, Los Angeles Name
$2,199,000 Type
Distance
Tanzy
Italian
0.48 mi
Bru's Counter
Salad, Sandwiches
0.51 mi
P'tit Soleil
Tapas/Small Plates, French, Bars
0.55 mi
Attari Sandwich Shop
Sandwiches, Persian/Iranian
0.57 mi
Cafe Glace
Persian/Iranian, Cafes, Pizza
0.57 mi
Mary & Robb's Westwood Cafe
American (Traditional), Breakfast & Brunch
0.57 mi
Pomodoro Trattoria
Italian
0.58 mi
Panini Cafe
Italian, Mediterranean
0.59 mi
Palomino
American (New), Mediterranean
0.59 mi
Fundamental LA
American (New)
0.59 mi
Naab Cafe
Persian/Iranian, Halal, Hookah Bars
0.6 mi
Sunnin Lebanese Cafe
Middle Eastern
0.62 mi
Ramayani
Indonesian
0.65 mi
800 Degrees Neapolitan Pizzeria
Pizza, Italian
0.66 mi
Ike's Place
Sandwiches
0.69 mi
Clementine
American (New), Breakfast & Brunch, Bakeries
0.7 mi
Rating 90 reviews 93 reviews 83 reviews 330 reviews 127 reviews 137 reviews 527 reviews 257 reviews 967 reviews 586 reviews 159 reviews 744 reviews 336 reviews 1623 reviews 195 reviews 686 reviews
MLS #14-8081
Property Details 10748 LINDBROOK DR, Los Angeles LISTING INFORMATION
$2,195,000 Courtesy of Coldwell Banker Residential Brokerage
MLS#: 14-808119
Beds: 3
Sq Ft: 2,451
List Date: 11/5/14
Status: Active
Baths: 3/0
Year Built: 1939
DOM: 61
FEATURES Floors: Carpet, Hardwood Stories: 1 Cooling: Central Heating: Central View: None Zoning: LAR1 Lotsize: 9423 REMARKS UPDATED ONE STORY CORNER TRADITIONAL HOME WITH OVERSIZED LOT (9,473 SQ.FT.), LOCATED NORTH OF WILSHIRE IN WARNER SCHOOL DISTRICT. LARGE LIVING ROOM AND DINING AREA WITH HARDWOOD FLOORS AND FIREPLACE, LEADS TO A CENTRAL COURTYARD WHICH IS GREAT FOR ENTERTAINING. THERE ARE 3 BEDROOMS AND 3 UPDATED BATHROOMS. UPDATED KITCHEN WITH GRANITE COUNTER TOPS AND BUILT-INS. WALKING DISTANCE TO WESTWOOD VILLAGE, THEATER, RESTAURANTS, AND SHOPPING.
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-8081
Buyer Comments
10748 LINDBROOK DR, Los Angeles LISTING INFORMATION
$2,195,000 Courtesy of Coldwell Banker Residential Brokerage
MLS#: 14-808119
Beds: 3
Sq Ft: 2,451
List Date: 11/5/14
Status: Active
Baths: 3/0
Year Built: 1939
DOM: 61
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-8081
Listing Photos 10748 LINDBROOK DR, Los Angeles
$2,195,000
COMMU
Area Restaurants 10748 LINDBROOK DR, Los Angeles Name
$2,195,000 Type
Distance
Tanzy
Italian
0.22 mi
Panini Cafe
Italian, Mediterranean
0.29 mi
Palomino
American (New), Mediterranean
0.31 mi
Garlo's Aussie Pie Shop
Australian, Bakeries
0.35 mi
800 Degrees Neapolitan Pizzeria
Pizza, Italian
0.38 mi
Ike's Place
Sandwiches
0.4 mi
Naab Cafe
Persian/Iranian, Halal, Hookah Bars
0.4 mi
Fundamental LA
American (New)
0.41 mi
TLT Food
American (New)
0.41 mi
Mesa Brazilian Eatery
Brazilian
0.43 mi
P'tit Soleil
Tapas/Small Plates, French, Bars
0.44 mi
Soleil Westwood
French
0.44 mi
Attari Sandwich Shop
Sandwiches, Persian/Iranian
0.46 mi
Pomodoro Trattoria
Italian
0.47 mi
Native Foods Cafe
Vegan, Vegetarian, American (New)
0.48 mi
Cafe Glace
Persian/Iranian, Cafes, Pizza
0.5 mi
Rating 90 reviews 257 reviews 967 reviews 149 reviews 1623 reviews 195 reviews 159 reviews 586 reviews 564 reviews 81 reviews 83 reviews 448 reviews 330 reviews 527 reviews 905 reviews 127 reviews
MLS #14-7907
Property Details 11231 HOMEDALE ST, Los Angeles
$2,179,000
LISTING INFORMATION
Courtesy of Hilton & Hyland
MLS#: 14-790747
Beds: 5
Sq Ft: 3,396
List Date: 9/4/14
Status: Active
Baths: 4/0
Year Built: 1948
DOM: 150
FEATURES Floors: Carpet, Hardwood, Travertine Stories: 1 Cooling: Air Conditioning, Central Heating: Central View: Tree Top Zoning: LAR1 Pool: In Ground Lotsize: 6494 REMARKS ON A QUAINT FAMILY-FRIENDLY STREET IN THE WARNER SCHOOL DISTRICT STANDS THIS GORGEOUS UPDATED HOUSE READY FOR A FAMILY TO CALL IT "HOME". THE OPEN FLOOR PLAN BOASTS AN OVER-SIZED FORMAL LIVING ROOM, ANCHORED BY A FIREPLACE, WITH TONS OF NATURAL LIGHT. DESIGNED WITH FAMILY FUN IN MIND, THE FAM/ROOM FEATURES A BUILT-IN LIBRARY- STYLE BOOKSHELF AND OPENS OUT TO THE GREAT OUTDOOR SPACE ALSO KNOWN AS THE "BACKYARD." THE CUSTOM GOURMET KITCHEN IS LOADED WITH ALL THE BELLS/ WHISTLES, OFFERING THE PERFECT SETTING FOR EVERY COOK IN THE FAMILY. A PICTURESQUE DINE-IN BREAKFAST AREA, A LARGE FORMAL DINING ROOM, AND 2 BEDRMS ON THE MAIN FLOOR, ONE OF WHICH IS CURRENTLY SET UP AS AN OFFICE. UPSTAIRS THERE ARE 3 BEDRMS INCLUDING A PRIVATE MASTER SUITE WITH CATHEDRAL CEILING, A LARGE SPA-LIKE BATH, AND A PRIVATE BALCONY PERFECT FOR ENJOYING A GREAT BOOK OR A QUICK "SIESTA." THE BACKYARD IS A GREAT EXT...
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-7907
Buyer Comments
11231 HOMEDALE ST, Los Angeles
$2,179,000
LISTING INFORMATION
Courtesy of Hilton & Hyland
MLS#: 14-790747
Beds: 5
Sq Ft: 3,396
List Date: 9/4/14
Status: Active
Baths: 4/0
Year Built: 1948
DOM: 150
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-7907
Listing Photos 11231 HOMEDALE ST, Los Angeles
$2,179,000
MLS #14-7907
More Listing Photos 11231 HOMEDALE ST, Los Angeles
$2,179,000
COMMU
Area Restaurants 11231 HOMEDALE ST, Los Angeles Name
$2,179,000 Type
Distance
West Restaurant & Lounge
American (New), Lounges
0.34 mi
Il Piccolo Verde
Italian
0.48 mi
Bel Air Bar + Grill
American (Traditional), Wine Bars
0.53 mi
Manny's Pizzeria
Pizza, Italian
0.53 mi
Belwood Bakery Cafe
Cafes, Bakeries
0.56 mi
ROAST Deli & Market
Delis, Sandwiches, Meat Shops
0.59 mi
Lemonade
Delis, Cafes, Juice Bars & Smoothies
0.59 mi
Le Pain Quotidien
Breakfast & Brunch, Belgian
0.59 mi
Divino
Italian
0.62 mi
Feast At Rieber
Asian Fusion, Japanese, Korean
0.67 mi
The Restaurant at The Getty Center
American (New), Cafes
0.87 mi
Bella Pita
Middle Eastern, Sandwiches, Mediterranean
1.04 mi
Fat Sal's Deli
Delis, American (New), Burgers
1.06 mi
Gushi
Korean
1.07 mi
Coral Tree Cafe
Breakfast & Brunch, Sandwiches, Coffee & Tea
1.17 mi
SEAS Cafe
Cafes
1.2 mi
Rating 264 reviews 47 reviews 80 reviews 82 reviews 176 reviews 154 reviews 269 reviews 52 reviews 77 reviews 39 reviews 383 reviews 478 reviews 587 reviews 692 reviews 706 reviews 63 reviews
MLS #15-8229
Property Details 10764 ROCHESTER AVE, Los Angeles
$1,875,000
LISTING INFORMATION
Courtesy of Gibson International
MLS#: 15-822947
Beds: 3
Sq Ft: 1,913
List Date: 1/26/15
Status: Active
Baths: 1/1/1/0
Year Built: 1930
DOM: 6
FEATURES Floors: Hardwood, Tile Roof: Tar and Gravel, Tile Stories: 1 Mello Roos: No Cooling: Air Conditioning Heating: Central, Forced Air View: None Zoning: LAR1 Pool: None Patio: Deck(s) Water: Public Lotsize: 7091 REMARKS Situated on a large lot, this tastefully updated single level Spanish home still retains all its original charm with gated courtyard entry, hardwood floors, and arched doorways. Additional features include spacious formal living room with exposed beam ceiling and fireplace, large formal dining room with tray ceiling, cozy breakfast nook, gourmet kitchen with granite counters and stainless appliances, lovely master suite with sumptuous remodeled bath, second bedroom with attached bath, sizable third bedroom/office, rear wood deck overlooking private yard, detached full-size two car garage, and updated systems including central heat and air conditioning. Conveniently located just minutes from Westwood Village, Century City mall and Beverly Hills and in the coveted Fairburn school district make this a must see home.
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #15-8229
Buyer Comments
10764 ROCHESTER AVE, Los Angeles
$1,875,000
LISTING INFORMATION
Courtesy of Gibson International
MLS#: 15-822947
Beds: 3
Sq Ft: 1,913
List Date: 1/26/15
Status: Active
Baths: 1/1/1/0
Year Built: 1930
DOM: 6
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #15-8229
Listing Photos 10764 ROCHESTER AVE, Los Angeles
$1,875,000
MLS #15-8229
More Listing Photos 10764 ROCHESTER AVE, Los Angeles
$1,875,000
COMMU
Area Restaurants 10764 ROCHESTER AVE, Los Angeles Name
$1,875,000 Type
Distance
P'tit Soleil
Tapas/Small Plates, French, Bars
0.24 mi
Soleil Westwood
French
0.24 mi
Tanzy
Italian
0.24 mi
Attari Sandwich Shop
Sandwiches, Persian/Iranian
0.25 mi
Pomodoro Trattoria
Italian
0.26 mi
Cafe Glace
Persian/Iranian, Cafes, Pizza
0.27 mi
Mary & Robb's Westwood Cafe
American (Traditional), Breakfast & Brunch
0.27 mi
Fundamental LA
American (New)
0.29 mi
Naab Cafe
Persian/Iranian, Halal, Hookah Bars
0.3 mi
Palomino
American (New), Mediterranean
0.35 mi
Panini Cafe
Italian, Mediterranean
0.36 mi
800 Degrees Neapolitan Pizzeria
Pizza, Italian
0.42 mi
Ike's Place
Sandwiches
0.44 mi
Mesa Brazilian Eatery
Brazilian
0.45 mi
Sunnin Lebanese Cafe
Middle Eastern
0.45 mi
Ramayani
Indonesian
0.46 mi
Rating 83 reviews 448 reviews 90 reviews 330 reviews 527 reviews 127 reviews 137 reviews 586 reviews 159 reviews 967 reviews 257 reviews 1623 reviews 195 reviews 81 reviews 744 reviews 336 reviews
MLS #15-8244
Property Details 2001 SELBY AVE, Los Angeles
$1,099,000
LISTING INFORMATION
Courtesy of Teles Properties, Inc.
MLS#: 15-824433
Beds: 3
Sq Ft: 1,697
List Date: 1/27/15
Status: Active
Baths: 1/1/0/0
Year Built: 1936
DOM: 5
FEATURES Floors: Carpet, Hardwood, Vinyl Stories: 1 Cooling: None Heating: Floor Furnace, Wall View: None Zoning: LAR1 Lotsize: 6750 REMARKS Fantastic 3 bedroom/1.75 bath + family room Spanish fixer opportunity North of Olympic Blvd. Located on large 6,750sf corner lot in close proximity to/across from the desired Westwood Charter School. Original charm and character throughout. Formal entry with step-down living room including picture window, fireplace, hardwood flooring & beamed ceiling. Formal dining room opens to charming kitchen & breakfast room w/ blt-in corner cabinet & access to covered brick-accented patio & yard. Spacious family room with sliding door to relaxing large covered patio & yard. Master suite filled with natural light, with backyard access, large closet and 3/4 bath. 2 additional sun-filled bedrooms share a full bath w/ separate bath & shower. This home is perfect for the buyer looking to update and possibly expand in fabulous neighborhood close to Century City, UCLA, Westwood Blvd. restaurants & reta...
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #15-8244
Buyer Comments
2001 SELBY AVE, Los Angeles
$1,099,000
LISTING INFORMATION
Courtesy of Teles Properties, Inc.
MLS#: 15-824433
Beds: 3
Sq Ft: 1,697
List Date: 1/27/15
Status: Active
Baths: 1/1/0/0
Year Built: 1936
DOM: 5
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #15-8244
Listing Photos 2001 SELBY AVE, Los Angeles
$1,099,000
MLS #15-8244
More Listing Photos 2001 SELBY AVE, Los Angeles
$1,099,000
COMMU
Area Restaurants 2001 SELBY AVE, Los Angeles Name
$1,099,000 Type
Distance
California Fresh
Italian, Gluten-Free, Mediterranean
0.15 mi
Zuma Kitchen
Mediterranean, Turkish, Middle Eastern
0.18 mi
California Chicken Cafe
American (Traditional)
0.18 mi
Necco
Japanese
0.2 mi
Farsi Cafe
Persian/Iranian
0.21 mi
Taste of Tehran
Persian/Iranian
0.21 mi
The Room Sushi Bar
Sushi Bars
0.23 mi
Bru's Counter
Salad, Sandwiches
0.25 mi
Sunnin Lebanese Cafe
Middle Eastern
0.37 mi
Ramayani
Indonesian
0.4 mi
The Apple Pan
Burgers, Diners
0.55 mi
The Backhouse
Sushi Bars, Japanese
0.59 mi
Westside Tavern
American (New), Pubs
0.6 mi
Totoraku
Japanese
0.64 mi
Food
Sandwiches, Breakfast & Brunch
0.65 mi
Zankou Chicken
Middle Eastern, Mediterranean
0.69 mi
Rating 176 reviews 71 reviews 592 reviews 21 reviews 96 reviews 280 reviews 327 reviews 93 reviews 744 reviews 336 reviews 2022 reviews 367 reviews 1030 reviews 195 reviews 503 reviews 860 reviews
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
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Mobile
310-500-6107
Web
www.scott-mcintosh.com
scott@scott-mcintosh.com
Blog
www.thewestwoodblog.com
http://www.facebook.com/agentscott
https://twitter.com/#!/theagentscott
http://www.linkedin.com/in/agentscott
Address
11999 San Vicente Blvd. Suite 100, LA CA 90049
Office
310-979-3942