Westwood Homes Open House November 18th, 2012

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Buyer Tour

PREPARED FOR

WWestwood Homes Open House November 18th,estwood Homes Open House November 18th,20122012

NOVEMBER 18, 2012

Scott McIntosh | Coldwell Banker | DRE Number: 01759826 | Mobile: 310-500-6107 | www.scott-mcintosh.com |[email protected] | www.thewestwoodblog.com | 11999 San Vicente Blvd. Suite 100, LA CA 90049 |

Office: 310-979-3942

http://www.scott-mcintosh.com

mailto:[email protected]

http://www.thewestwoodblog.com

http://www.mapquest.com/?q=11999+San+Vicente+Blvd.+Suite+100%2C+LA+CA+90049

LISTINGSLISTINGSCloud CMACloud CMA

Map of All Listings

MLS #MLS # StatusStatus AddrAddressess PricePrice

1 12635435 Active 10598 KINNARD AVE, Los Angeles $2,200,000

2 12632419 Active 218 S THURSTON AVE, Los Angeles $1,295,000

3 12626123 Active 1676 FAIRBURN AVE, Los Angeles $1,099,000

4 12629485 Active 2361 PELHAM AVE, Los Angeles $999,000


Office: 310-979-3942





MLSMLS#12635435#12635435

Cloud CMACloud CMA

Property Details

$2,200,000$2,200,00010598 KINNARD AVE, Los Angeles10598 KINNARD AVE, Los Angeles

Courtesy of RE/MAX ESTATE PROPERTIESLISTING INFORMATIONLISTING INFORMATION

MLS#:MLS#: 12635435 Beds:Beds: 5 Sq Ft:Sq Ft: 3,524 List Date:List Date: Nov 12, 2012

Status:Status: Active Baths:Baths: 4.00 YYear Built:ear Built: 2006 DOM:DOM: 6

FEATURESFEATURES

Status detailsStatus details: Active; ZoningZoning: LAR1; CDOMCDOM: 6; Number of unitsNumber of units: 1; TB map codeTB map code: 632C3; AppliancesAppliances:Washer; FloorsFloors: Hardwood; CoolingCooling: Central A/C; HeatingHeating: Central Furnace; VViewiew: Tree Top View,AnyView; LotsizeLotsize: 7296;

REMARKSREMARKS

THIS STUNNING NEW CONSTRUCTION MODERN ARCHITECTURAL HOME CONSISTS OF 5 BEDROOMS,4 BATHROOMS AND DEN/OFFICE. HOME IS FILLED WITH CHARM, LIGHT, HIGH CEILINGS, GLEAMINGHARDWOOD FLOORS, LARGE WINDOWS AND TOP OF THE LINE DESIGNER TOUCHES THROUGHOUT.GOURMET KITCHEN WITH QUARTZ COUNTER TOPS AND VIKING APPLIANCES LEADS TO A GREATFAMILY ROOM. THIS IS A PERFECT HOME FOR ENTERTAINING AND GREAT FOR INDOOR/OUTDOORLIVING WITH A LARGE GRASSY BACKYARD. MASTER SUITE WITH SITTING AREA, GREAT MASTER BATHWITH DOUBLE SINKS, HUGE GRANITE SHOWER. AMAZING GUEST HOUSE ABOVE 3 CAR GARAGEOPENS OUT TO PRIVATE LANDSCAPED BACKYARD. A MUST SEE. HOME IS IN MOVE-IN CONDITION.

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.


Office: 310-979-3942

http://csmedia.mris.com/platinum/getmedia?ID=97789515262&LOOT=50045650620


http://maps.google.com/maps?q=10598+KINNARD+AVE%2C+Los+Angeles%2C+CA+90024

http://maps.google.com/maps?q=10598+KINNARD+AVE%2C+Los+Angeles%2C+CA+90024





MLSMLS#12635435#12635435

How do you rate this prHow do you rate this property?operty?

Cloud CMACloud CMA

Buyer Comments


Courtesy of RE/MAX ESTATE PROPERTIESLISTING INFORMATIONLISTING INFORMATION

MLS#:MLS#: 12635435 Beds:Beds: 5 Sq Ft:Sq Ft: 3,524 List Date:List Date: Nov 12, 2012


Comments:Comments:



Office: 310-979-3942









MLSMLS#12635435#12635435

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Listing Photos



Office: 310-979-3942





























MLSMLS#12635435#12635435

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COMMUNITYCOMMUNITY

Data provided by

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Area Schools


SchoolSchool TTypeype PhonePhone DistanceDistance

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.25 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.40 mi

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

Westwood Elementary School Charter/K-5 (310) 474-7788 0.58 mi

Global Montessori School Of WestwoodPrivate,

Montessori/PK,K0.67 mi

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.69 mi

Warner Avenue Elementary School Public/K-5 (310) 475-5893 1.00 mi

St Timothy School Private/PK,K-8 (310) 474-1811 1.11 mi

Le Lycee Francais de Los Angeles-Century CityElementary School

Private/K-1 (310) 553-7444 1.20 mi

New Horizon School Westside Private/PK,K-5 (310) 231-6092 1.36 mi

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


Office: 310-979-3942

http://www.education.com/schoolfinder/us/california/los-angeles/fairburn-avenue-elementary/

http://www.education.com/schoolfinder/us/california/los-angeles/ralph-waldo-emerson-middle/

http://www.education.com/schoolfinder/us/california/los-angeles/st-paul-the-apostle-school/

http://www.education.com/schoolfinder/us/california/los-angeles/westwood-elementary/

http://www.education.com/schoolfinder/us/california/los-angeles/global-montessori-school-of-westwood/

http://www.education.com/schoolfinder/us/california/los-angeles/sinai-akiba-academy/

http://www.education.com/schoolfinder/us/california/los-angeles/warner-avenue-elementary/

http://www.education.com/schoolfinder/us/california/los-angeles/st-timothy-school/

http://www.education.com/schoolfinder/us/california/los-angeles/le-lycee-francais-de-los-angel/


http://www.education.com/schoolfinder/us/california/los-angeles/new-horizon-school-westside/

http://education.com


http://www.education.com/schoolfinder/us/california/los-angeles/





COMMUNITYCOMMUNITYCloud CMACloud CMA

Area Restaurants


NameName TTypeype DistanceDistance RatingRating

Pomodoro Trattoria Italian 0.6 mi 375 reviews

Totoraku Japanese 1.0 mi 126 reviews

Spago American (New) 2.1 mi 770 reviews

Sfixio Italian 2.1 mi 78 reviews

Tagine Moroccan 2.8 mi 365 reviews

Mélisse French, Seafood 4.1 mi 516 reviews

Animal American (New), Steakhouses 4.3 mi 1677 reviews

Carlitos Gardel Restaurant Argentine, Steakhouses 4.3 mi 292 reviews

Angelini Osteria Italian 4.9 mi 681 reviews

Genwa Korean Bbq Korean, Barbeque 5.2 mi 840 reviews

Providence American (New), Seafood, Asian Fusion 6.1 mi 1205 reviews

Soowon Galbi KBBQ Restaurant Korean, Barbeque 8.0 mi 1087 reviews


Office: 310-979-3942

http://www.yelp.com/biz/pomodoro-trattoria-los-angeles-2


http://www.yelp.com/biz/totoraku-los-angeles


http://www.yelp.com/biz/spago-beverly-hills


http://www.yelp.com/biz/sfixio-beverly-hills


http://www.yelp.com/biz/tagine-beverly-hills


http://www.yelp.com/biz/m%C3%A9lisse-santa-monica


http://www.yelp.com/biz/animal-los-angeles


http://www.yelp.com/biz/carlitos-gardel-restaurant-los-angeles


http://www.yelp.com/biz/angelini-osteria-los-angeles


http://www.yelp.com/biz/genwa-korean-bbq-los-angeles-2


http://www.yelp.com/biz/providence-los-angeles-2


http://www.yelp.com/biz/soowon-galbi-kbbq-restaurant-los-angeles-2


http://www.yelp.com

http://www.yelp.com





MLSMLS#12632419#12632419

Cloud CMACloud CMA

Property Details

$1,295,000$1,295,000218 S THURSTON AVE, Los Angeles218 S THURSTON AVE, Los Angeles

Courtesy of Coldwell Banker-BH NorthLISTING INFORMATIONLISTING INFORMATION

MLS#:MLS#: 12632419 Beds:Beds: 2 Sq Ft:Sq Ft: 2,187 List Date:List Date: Oct 29, 2012


FEATURESFEATURES

Status detailsStatus details: Active; ZoningZoning: LAR1; CDOMCDOM: 20; Number of unitsNumber of units: 1; SpaSpa: Private Spa; TB map codeTB map code:631H1; WWaterater: District/Public (N); AppliancesAppliances: Dishwasher,Electric Dryer Hookup,Gas Dryer Hookup;InteriorInterior: Bar; FloorsFloors: Carpet,Wood; CoolingCooling: Air Conditioning,Central A/C; HeatingHeating: Central Furnace;PoolPool: Heated,Private Pool; RoofRoof: Composition; VViewiew: No View; LotsizeLotsize: 5051;

REMARKSREMARKS

This Pristine Storybook Traditional greets you with a sunny front porch & mature landscaping. The Center Hallplan in this one story home leads to large living, dining, & family rooms. Huge cook's kitchen with eat-inbreakfast bar, skylight & loads of storage. Light & bright master bedroom with ensuite vanity & bath. Mastersuite French doors open to private backyard deck, pool & spa. Generous 2nd bedroom. Hardwood floorsthruout. Cozy den with bar, gas grill, fireplace, wood paneling & built-in bookshelves. Inside laundry room. 3skylights, lots of storage space in the attic plus huge hallway storage. 2 car garage with storage room.Friendly, walking neighborhood. Warner Ave Elementary School.



Office: 310-979-3942



http://maps.google.com/maps?q=218+S+THURSTON+AVE%2C+Los+Angeles%2C+CA+90049

http://maps.google.com/maps?q=218+S+THURSTON+AVE%2C+Los+Angeles%2C+CA+90049





MLSMLS#12632419#12632419


Cloud CMACloud CMA

Buyer Comments


Courtesy of Coldwell Banker-BH NorthLISTING INFORMATIONLISTING INFORMATION



Comments:Comments:



Office: 310-979-3942









MLSMLS#12632419#12632419

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Listing Photos



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Data provided by

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Area Schools



Brentwood School Private/K-12 (310) 476-9633 0.57 mi

Archer School For Girls Private/6-12 (310) 873-7000 0.69 mi

Community Magnet Charter Elementary School Charter/K-5 (310) 476-2281 0.73 mi

St Martin Of Tours Elementary School Private/K-8 (310) 472-7419 0.94 mi

John Thomas Dye School Private/K-6 (310) 476-2811 1.13 mi

Marymount High School Los Angeles Private/9-12 (310) 472-1205 1.30 mi

Brentwood Science Elementary School Alt./K-5 (310) 826-5631 1.63 mi

Kenter Canyon Elementary School Charter/K-5 (310) 472-5918 1.71 mi

University Senior High School Public/9-12 (310) 914-3500 1.77 mi

St Sebastian School Private/1-8 (310) 473-3337 1.80 mi



Office: 310-979-3942

http://www.education.com/schoolfinder/us/california/los-angeles/brentwood-school/

http://www.education.com/schoolfinder/us/california/los-angeles/archer-school-for-girls/

http://www.education.com/schoolfinder/us/california/los-angeles/community-magnet-charter-elementary/

http://www.education.com/schoolfinder/us/california/los-angeles/st-martin-of-tours-elem-school/

http://www.education.com/schoolfinder/us/california/los-angeles/john-thomas-dye-school/

http://www.education.com/schoolfinder/us/california/los-angeles/marymount-high-school-los-angeles/

http://www.education.com/schoolfinder/us/california/los-angeles/brentwood-science/

http://www.education.com/schoolfinder/us/california/los-angeles/kenter-canyon-elementary/

http://www.education.com/schoolfinder/us/california/los-angeles/university-senior-high/

http://www.education.com/schoolfinder/us/california/los-angeles/st-sebastian-school/









Area Restaurants



The Restaurant at the Getty Center American (New) 0.8 mi 176 reviews






La Botte Ristorante Italian 4.0 mi 270 reviews







Office: 310-979-3942

http://www.yelp.com/biz/the-restaurant-at-the-getty-center-los-angeles

http://www.yelp.com/biz/the-restaurant-at-the-getty-center-los-angeles











http://www.yelp.com/biz/la-botte-ristorante-santa-monica

http://www.yelp.com/biz/la-botte-ristorante-santa-monica











http://www.yelp.com

http://www.yelp.com





MLSMLS#12626123#12626123

Cloud CMACloud CMA

Property Details

$1,099,000$1,099,0001676 F1676 FAIRBURN AVE, Los AngelesAIRBURN AVE, Los Angeles

Courtesy of Michael CassellLISTING INFORMATIONLISTING INFORMATION

MLS#:MLS#: 12626123 Beds:Beds: 4 Sq Ft:Sq Ft: 2,500 List Date:List Date: Sep 24, 2012


FEATURESFEATURES

Status detailsStatus details: Active; ZoningZoning: LAR1; CDOMCDOM: 55; TB map codeTB map code: 632C3; AppliancesAppliances:Dishwasher,Garbage Disposal; FloorsFloors: Carpet,Hardwood,Tile (N); CoolingCooling: Central A/C; HeatingHeating: CentralFurnace; VViewiew: City Lights View; LotsizeLotsize: 6323;

REMARKSREMARKS

Nestled on a gentle knoll and flooded with light. First floor has remodeled, large kitchen with granite counters,tile floor and stainless steel appliances, open dining area/living room with fireplace, and three bedrooms/convertible den. Hardwood floors throughout the living areas. Second floor consists of huge bedroom/masterbathroom and office area with new carpet. Central heat and air. Newly painted. Buyer to verify square footage.Desired Westwood neighborhood, close to shopping, dining, houses of worship and much more.



Office: 310-979-3942



http://maps.google.com/maps?q=1676+FAIRBURN+AVE%2C+Los+Angeles%2C+CA+90024

http://maps.google.com/maps?q=1676+FAIRBURN+AVE%2C+Los+Angeles%2C+CA+90024





MLSMLS#12626123#12626123


Cloud CMACloud CMA

Buyer Comments


Courtesy of Michael CassellLISTING INFORMATIONLISTING INFORMATION

MLS#:MLS#: 12626123 Beds:Beds: 4 Sq Ft:Sq Ft: 2,500 List Date:List Date: Sep 24, 2012


Comments:Comments:



Office: 310-979-3942









MLSMLS#12626123#12626123

Cloud CMACloud CMA

Listing Photos



Office: 310-979-3942























COMMUNITYCOMMUNITY

Data provided by

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Area Schools



Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.31 mi


St Paul The Apostle School Private/K-8 (310) 474-1588 0.56 mi


Sinai Akiba Academy Private/K-8 (310) 475-6401 0.69 mi




Warner Avenue Elementary School Public/K-5 (310) 475-5893 1.06 mi


Private/K-1 (310) 553-7444 1.07 mi

Moreno High (Continuation) High School Alt./9-12 (310) 551-5100 1.24 mi



Office: 310-979-3942

http://www.education.com/schoolfinder/us/california/los-angeles/fairburn-avenue-elementary/


http://www.education.com/schoolfinder/us/california/los-angeles/st-paul-the-apostle-school/


http://www.education.com/schoolfinder/us/california/los-angeles/sinai-akiba-academy/



http://www.education.com/schoolfinder/us/california/los-angeles/warner-avenue-elementary/



http://www.education.com/schoolfinder/us/california/beverly-hills/moreno-high-continuation/









Area Restaurants
















Office: 310-979-3942

























http://www.yelp.com

http://www.yelp.com





MLSMLS#12629485#12629485

Cloud CMACloud CMA

Property Details

$999,000$999,0002361 PELHAM AVE, Los Angeles2361 PELHAM AVE, Los Angeles

Courtesy of Prudential CA - PalisadesLISTING INFORMATIONLISTING INFORMATION



FEATURESFEATURES

Status detailsStatus details: Active; ZoningZoning: LAR1; CDOMCDOM: 38; TB map codeTB map code: 632D5; AppliancesAppliances:Dishwasher,Dryer,Garbage Disposal,Refrigerator,Washer; FloorsFloors: Carpet,Concrete Slab,Other; CoolingCooling:Central A/C; HeatingHeating: Central Furnace; PoolPool: No Pool; RoofRoof: Composition; VViewiew: No View; LotsizeLotsize:6838;

REMARKSREMARKS

Hip and very stylish contemporary home with open floor plan. Beautifully updated kitchen with center island,dual paned windows, central heat and air. Mix of cement and bamboo flooring. Detached garage is perfect foran office or playroom. Can easily be converted back. Located in the highly coveted Westwood Charter schooldistrict.



Office: 310-979-3942



http://maps.google.com/maps?q=2361+PELHAM+AVE%2C+Los+Angeles%2C+CA+90064

http://maps.google.com/maps?q=2361+PELHAM+AVE%2C+Los+Angeles%2C+CA+90064





MLSMLS#12629485#12629485


Cloud CMACloud CMA

Buyer Comments


Courtesy of Prudential CA - PalisadesLISTING INFORMATIONLISTING INFORMATION



Comments:Comments:



Office: 310-979-3942









MLSMLS#12629485#12629485

Cloud CMACloud CMA

Listing Photos



Office: 310-979-3942



























COMMUNITYCOMMUNITY

Data provided by

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Area Schools



Overland Avenue Elementary School Public/K-5 (310) 838-7308 0.37 mi




Private/K-1 (310) 553-7444 0.66 mi

Notre Dame Academy Girls High School Private/9-12 (310) 839-5289 0.67 mi

Notre Dame Academy Elementary School Private/K-8 (310) 287-3895 0.75 mi

Redeemer Baptist Elementary Private/K-6 (310) 475-4598 0.89 mi



Clover Avenue Elementary School Public/K-5 (310) 479-7739 1.08 mi




Office: 310-979-3942

http://www.education.com/schoolfinder/us/california/los-angeles/overland-avenue-elementary/





http://www.education.com/schoolfinder/us/california/los-angeles/notre-dame-academy-girls-h-s/

http://www.education.com/schoolfinder/us/california/los-angeles/notre-dame-academy-elementary/

http://www.education.com/schoolfinder/us/california/los-angeles/redeemer-baptist-elementary/


http://www.education.com/schoolfinder/us/california/los-angeles/clover-avenue-elementary/










Area Restaurants
















Office: 310-979-3942

























http://www.yelp.com

http://www.yelp.com





INFOINFOCloud CMACloud 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 yearsor more.

According to the annual Profile of Home Buyers and Sellers, compiled by the National Association ofREALTORS®, the primary reason buyers cite for purchasing a home is simply the desire to own, followed closelyby 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 arrangementsand 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 adifferent kind of living experience, such as moving from an apartment to a single-family home with a privategarage and yard. Your family may be growing, so you have to think about school districts and proximity to parksand 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 about10 years.

You’ll also build equity for yourself, instead of for someone else. Every payment you make, plus the rules ofinflation 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 allowsyou to buy more home for the money. Rents are rising, making ownership more affordable than renting in manyareas, especially when you factor in tax incentives such as mortgage interest deductions and property taxesallowable as deductions against your income.

When you buy, make your goals long-term. Choose the home you think will serve your household’s needs thebest for the longest period of time, as it’s been proven that the longer you own a home, the more equity you’llbuild. Today’s market conditions and affordability, make it more likely that you will reach your homebuying goals,no matter what they are.


Office: 310-979-3942






The Homebuying Process

There are eight major steps you will take when you buy a home:

Get prGet prequalifiedequalified - Your lender will look at your income, credit scores, revolving debts, obligations such as childsupport as well as the type of loan you choose. Other factors that impact how much home you can buy is thedown 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 listMake your wish list - Decide where you want to live and how many bedrooms and baths you’ll need. Considerlifestyle - condominiums offer shared amenities, with little responsibility. Single-family homes offer more spaceand privacy, but much more exterior and yard maintenance.

HirHire a re a real estate preal estate professionalofessional - Your real estate professional should be expert in the area where you want to liveand familiar with the type of home you want to buy. Your agent has house-by-house experience in yourneighborhood and can offer the best advice on homes in your range.

Select your homeSelect your home - No home is perfect, so don’t let minor flaws influence you. Think long-term. Which home bestsuits the activities and needs of your household now and in the years ahead? Don’t buy more than you need orcan comfortably afford.

Make an ofMake an offerfer - Your offer depends on the current market. If a home has been on the market a long time, you canask the seller for a price reduction, but if it’s new on the market, the seller is unlikely to accept a low offer. Askyour real estate professional for advice.

Get an inspectionGet an inspection - A home inspection is a professional third-party opinion of the home’s condition. Theinspector will point out the age of systems, and large and small repairs that are needed, so you’ll know whatyou’re facing as the next owner.

Get an appraisalGet an appraisal - The bank appraisal determines market value. If the home doesn’t appraise for the purchaseprice, the bank will refuse to make the loan unless you renegotiate with the seller. If it appraises, the lender willmove toward closing.

Go to closingGo 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 signedby both parties. The lender pays the seller, minus any liens against the home such as the seller’s mortgage. Onceall 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.


Office: 310-979-3942






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, featuresand amenities you and your family want.

AfAfforfordabilitydability

Your monthly payments should be comfortable for you to handle, in relationship to your total obligations, about28% 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 protectionthan 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.

LocationLocation

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 whereyou need to 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.

FeaturFeatureses

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 householdmembers, 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 youfrequently 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 thehome you have in mind. With professional guidance, you should be able to find and buy the home of yourdreams, where you’ll be happy for a long time to come.


Office: 310-979-3942






Making an Offer

Before you submit an offer, have your agent pull up the most recent sold comparables (CMA) within a reasonableradius 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.

• In a buyer’s market, discounts are common because there are fewer buyers, more properties for sale, andhome 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 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. If you werethe seller, what is the lowest possible price you’d accept?

Low-balling the seller is risky. If the seller feels insulted by your offer, you’ve lost the opportunity to negotiate. Onthe 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 sellquickly. 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 lettersummarizing your strengths as a buyer in terms of creditworthiness, flexibility in closing, and why you love thishome. 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 tofind a way to sweeten the deal, such as a full-price offer. Few sellers would accept a discount and a contingencyat the same time.

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 yourright to have an inspection.

Once your offer is negotiated and accepted, your earnest money will be sent to the escrow agent's office. Nowthe 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 coolingsystems, 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 notfunctioning.

Once the seller has agreed, your offer is now a binding contract, and you’ll proceed to closing.


Office: 310-979-3942






Your Down Payment

Lately, it’s been in the news that credit is tight, but if you believe that you need 20% down and perfect credit tobuy a home, you may have good news coming.

Loans are available with as little as zero down through the Veterans Administration, for veterans and active-dutymilitary. FHA has programs as low as 3.5 percent down for qualifying borrowers who buy within maximum loanlimits, up to $625,000.

Borrowers with less than perfect credit can get loans as well. Higher credit scores help qualify borrowers forbetter rates. For example, if you have a credit score of 720 or better, you can buy a home through FHA with 10%down.

The rule of thumb is simple – less money down requires a higher credit score and vice versa.

A down payment is simply your way of showing the lender that you are willing to risk your money to buy thehome you want. The larger the down payment, the more likely the lender is to make the loan.

The credit score will tell you how much money you have to put down; it’s a factor in your interest rate. If you put20 percent down, you can get a loan even if you have a low credit score of 580 or 620. If you have a 740 or 760,the lender will go with less money down.

It also matters where the down payment money is coming from. Lenders expect first-time buyers to get help fromfamily to buy a home, so there may be limits to the size or percentage of the down payment gift that the lenderwill allow.

Down payment assistance can also come from grants. The FHA no longer allows seller-assisted down payments,but does provide a link to national organizations that may be of help. Also, check your local housing authority tosee if there are grants available in your area.

Talk to your lender before you make an offer. Get prequalified, and be up front about the source of your downpayment money. A good lender will explain the true costs of borrowing to you so you can comfortably afford thehome you want as well as the monthly payments.


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Scott McIntoshScott McIntoshColdwell BankerColdwell Banker

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Westwood Homes Open House November 18th, 2012

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Transcript of Westwood Homes Open House November 18th, 2012