westwood homes open house march 17th, 2013

Cloud CMA

Buyer Tour

PREPARED FOR

Westwood Homes Open House March 17th, 2013

MARCH 17, 2013

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

LISTINGSCloud CMA

Map of All Listings

MLS # Status Address Price

1 12627537 Active 10401 WYTON DR, Los Angeles $4,695,000

2 13656675 Active 649 WESTHOLME AVE, Los Angeles $2,495,000

3 13657763 Active 2330 GLENDON AVE, Los Angeles $1,299,000

4 13656115 Active 2250 SELBY AVE, Los Angeles $1,295,000

5 13657735 Active 10864 WELLWORTH AVE, Los Angeles $1,195,000

6 13657749 Active 2223 MIDVALE AVE, Los Angeles $1,195,000

7 13657863 Active 147 VETERAN AVE, Los Angeles $1,079,000

8 13657839 Active 2203 MIDVALE AVE, Los Angeles $849,000






MLS#12627537

Cloud CMA

Property Details

$4,695,00010401 WYTON DR, Los Angeles

Courtesy of Prudential CA - Beverly HillsLISTING INFORMATION

MLS#: 12627537 Beds: 9 Sq Ft: 7,371 List Date: Oct 1, 2012

Status: Active Baths: 7.50 Year Built: 1934 DOM: 161

FEATURES

Status details: Active; Zoning: LAR1; CDOM: 161; Spa: None; TB map code: 632C1; Appliances:Dishwasher,Garbage Disposal,Refrigerator; Floors: Carpet,Hardwood,Tile (N); Cooling: Central A/C; Heating: CentralFurnace; Pool: Heated,Private Pool; Roof: Other; View: City Lights View,Tree Top View; Patio: Covered Porch,PatioOpen; Lotsize: 21214;

REMARKS

Sited majestically on one of Prime Little Holmby's most coveted knolls and set considerably back off the street is this veryspecial home, quite sizable, quite important-feeling, but friendly at every turn. Wonderfully wooded with circular driveway. Agrand formal foyer with sweeping staircase. Living room. Family Room with fireplace. Media Room with vaulted beamedceiling. Formal dining room. Den/Office. Potentially nine bedrooms including housekeeper quarters. Seven-and-a-half baths.Two master suites one with sitting room and the other with luxurious spa bathrooms. Very private garden & pool. Multiplepatio & terrace spaces. Roof deck. Views. Warner Avenue School.

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.


http://csmedia.mris.com/platinum/getmedia?ID=97755180730&LOOT=50045650620


http://maps.google.com/maps?q=10401+WYTON+DR%2C+Los+Angeles%2C+CA+90024

http://maps.google.com/maps?q=10401+WYTON+DR%2C+Los+Angeles%2C+CA+90024





MLS#12627537

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MLS#: 12627537 Beds: 9 Sq Ft: 7,371 List Date: Oct 1, 2012


Comments:











MLS#12627537

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COMMUNITY

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Area Schools


School Type Phone Distance

Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.26 mi

Fernald Child Care Center Preschool/PK (310) 825-2900 0.43 mi

Christopher Robin School Preschool/PK (323) 934-6512 0.54 mi

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.58 mi

Westwood Um Preschool Preschool/PK (310) 474-8986 0.63 mi

Ucla Interv Program Preschool/PK (310) 825-4821 0.84 mi

Ucla Early Care & Education Preschool/PK (310) 825-5086 0.84 mi

Marymount High School Los Angeles Private/9-12 (310) 472-1205 0.9 mi

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.97 mi

Harvard-Westlake School - Middle School Private/PK, K-12 (310) 274-7281 1.03 mi

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


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

http://www.education.com/schoolfinder/us/california/los-angeles/fernald-child-care-center/

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

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

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

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

http://www.education.com/schoolfinder/us/california/los-angeles/ucla-child-care-services/

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

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

http://www.education.com/schoolfinder/us/california/los-angeles/harvard-westlake-school-middle-school/

http://education.com


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





MLS#13656675

Cloud CMA

Property Details

$2,495,000649 WESTHOLME AVE, Los Angeles


MLS#: 13656675 Beds: 4 Sq Ft: 3,304 List Date: Mar 8, 2013


FEATURES

Status details: Active; Zoning: LAR1; CDOM: 9; Number of units: 1; TB map code: 632B2; Appliances:Dishwasher,Dryer,Garbage Disposal,Refrigerator,Washer; Floors: Hardwood; Cooling: Central A/C; Heating: CentralFurnace; View: No View; Patio: Covered Porch,Patio Open; Lotsize: 8279;

REMARKS

Beautiful two-story Little Holmby Traditional. This stately home has the quintessential floor plan.Orig. charming, evocativeperiod details are here & unspoiled: brickwork, wainscoting, carved wood, diamond-paned windows, crown moldings. Formalfoyer w/ sweeping staircase. LR features a fireplace & large bay window. Study featuring another fireplace, built-in bookshelves& a set of French doors leading to the patio. Formal dining rm. The kitchen is uncommonly expansive w/ a large center island,multiple built-ins, sitting & breakfast areas. 4th bedroom could be used as maid's qtrs/office/guest suite. Powder rm completesfirst floor. Upstairs there are 3 bedrooms, master has a sun deck, dressing room & bath. The two other secondary bedrooms sharea large bathroom, Jack & Jill style, sep. shower/tub, dual vanities & walk-in closet. Private yard w/ expansive covered brickpatio and garden w...





http://maps.google.com/maps?q=649+WESTHOLME+AVE%2C+Los+Angeles%2C+CA+90024

http://maps.google.com/maps?q=649+WESTHOLME+AVE%2C+Los+Angeles%2C+CA+90024





MLS#13656675


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MLS#13656675

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COMMUNITY

Data provided by

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Area Schools



Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.32 mi





Christopher Robin School Preschool/PK (323) 934-6512 0.52 mi

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.65 mi

Westwood Presby Preschool Preschool/PK (310) 474-2889 0.66 mi





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





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

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

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










MLS#13657763

Cloud CMA

Property Details

$1,299,0002330 GLENDON AVE, Los Angeles

Courtesy of Nourmand & Associates-BHLISTING INFORMATION

MLS#: 13657763 Beds: 3 Sq Ft: 0 List Date: Mar 14, 2013


FEATURES

Status details: Active; Zoning: LAR1; CDOM: 3; Number of units: 1; Spa: Hot Tub; TB map code: 632C5;Appliances: Dishwasher,Dryer,Garbage Disposal,Refrigerator,Washer; Floors: Hardwood,Marble,Tile (N); Cooling: AirConditioning; Heating: Central Furnace; Pool: No Pool; Roof: Composition; View: No View; Patio: Patio Open;Lotsize: 6749;

REMARKS

Featured cover story in Country Living Magazine, 1920's California Bungalow brought into 21st Century keeping architecturalintegrity. Awash with light/vibrant colors exuding warmth, comfort. Living rm w/wb fireplace, original tiles, hdwd flrs.Gracious dinning rm opens to renovated kitchen w/white Viking appliances, Cararra marble/ granite counter tops, center island,apron-front sink, custom cabinetry, bead-board ceiling, eat in breakfast nook. Extremely spacious MB suite w/sitting area, walkin closet, claw-foot tub, dbl sinks. Fr drs from master/kitchen open to wood deck patio surrounding a fire pit. Large bonus rm/wconcrete fl/Fr country drs is currently used as a music studio/media room. Backyard transformed into Tuscan garden w/fig/olivetrees, gravel pathways, fountain, pergola, 2 dining al fresco areas. Enclosed dog run, hot tub, and separate laundry. WestwoodCharter School Di...





http://maps.google.com/maps?q=2330+GLENDON+AVE%2C+Los+Angeles%2C+CA+90064

http://maps.google.com/maps?q=2330+GLENDON+AVE%2C+Los+Angeles%2C+CA+90064





MLS#13657763


Cloud CMA

Buyer Comments


Courtesy of Nourmand & Associates-BHLISTING INFORMATION

MLS#: 13657763 Beds: 3 Sq Ft: 0 List Date: Mar 14, 2013


Comments:











MLS#13657763

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Area Schools



Westwood Elementary School Charter/K-5 (310) 474-7788 0.4 mi

Chalk Preschool Los Angeles Preschool/PK (310) 446-5400 0.44 mi

Rancho County-Op Nursery School Preschool/PK (310) 558-9378 0.51 mi

Westwood Hills Preschool Preschool/PK (310) 474-7398 0.52 mi

Overland Avenue Elementary School Public/K-6 (310) 838-7308 0.58 mi

St Timothy School Private/PK,K-8 (310) 474-1811 0.69 mi

Global Montessori School Of WestwoodPrivate, Montessori/

PK,K0.73 mi

Samuel Goldwyn Foundation Child Care Center Preschool/PK (310) 445-8993 0.74 mi

Notre Dame Academy Girls High School Private/9-12 (310) 839-5289 0.84 mi

Wonder Years Preschool Preschool/PK (310) 473-0772 0.86 mi



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

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

http://www.education.com/schoolfinder/us/california/los-angeles/rancho-co-op-nursery-school/

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

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

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

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

http://www.education.com/schoolfinder/us/california/los-angeles/samuel-goldwyn-foundation-child-care-center/

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

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








MLS#13656115

Cloud CMA

Property Details

$1,295,0002250 SELBY AVE, Los Angeles

Courtesy of Partners Trust BrentwoodLISTING INFORMATION



FEATURES

Status details: Active; Zoning: LAR1; CDOM: 11; Number of units: 1; Spa: Other,Other; TB map code: 632C5;Appliances: Dishwasher,Freezer,Garbage Disposal,Refrigerator; Floors: Hardwood; Cooling: Central A/C; Heating:Central Furnace; Pool: No Pool; Roof: Composition; View: Park Or Green Belt View; Patio: Patio Open; Lotsize:6075;

REMARKS

Fabulous Remodeled home in prime Westwood! This home has been redone with no expense spared. Boasting hardwood floorsthroughout, a gourmet cooks kitchen with stainless steel appliances and breakfast room off kitchen, new bathrooms, new paintinside and out, fireplace in living room and new plumbing and electrical. There is also a converted garage with bonus room andfabulous deck overlooking the large backyard which is perfect for entertaining. Located only 2 blocks from Westwood CharterSchool and near shops and restaurants. Hurry this will not last!





http://maps.google.com/maps?q=2250+SELBY+AVE%2C+Los+Angeles%2C+CA+90064

http://maps.google.com/maps?q=2250+SELBY+AVE%2C+Los+Angeles%2C+CA+90064





MLS#13656115


Cloud CMA

Buyer Comments


Courtesy of Partners Trust BrentwoodLISTING INFORMATION



Comments:











MLS#13656115

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Area Schools







St Timothy School Private/PK,K-8 (310) 474-1811 0.6 mi



PK,K0.72 mi

Creative Center for Children Preschool/PK (310) 475-9004 0.73 mi

Worldspeak Multilingual Child Development Center Preschool/PK (323) 665-5171 0.83 mi

Le Lycee Francais de Los Angeles-Century City ElementarySchool

Private/K-1 (310) 553-7444 0.83 mi







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



http://www.education.com/schoolfinder/us/california/los-angeles/creative-center-for-children/

http://www.education.com/schoolfinder/us/california/los-angeles/worldspeak-multilingual-child-development-center/

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

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








MLS#13657735

Cloud CMA

Property Details

$1,195,00010864 WELLWORTH AVE, Los Angeles

Courtesy of Power Brokers InternationalLISTING INFORMATION



FEATURES

Status details: Active; Zoning: LAR1; CDOM: 3; Number of units: 1; TB map code: 632B3; Appliances:Dishwasher,Dryer,Garbage Disposal,Refrigerator,Washer; Floors: Hardwood,Tile (N); Cooling: Wall or Window Units;Heating: Forced Air; View: Other View; Patio: Patio Open; Lotsize: 7150;

REMARKS

Beautiful and Charming Spanish home in a superb location for convenience and accessibility. This home offers 3br's 2ba's anddetached guest house w/ kitchenette and 3/4 bath. Hardwood floors throughout with fantastic natural light flowing through thehome from well positioned skylights. Fireplaces in the master,2nd bedroom, Dining and Living Room. French doors lead you toa private spacious backyard w/fountain and wonderful foliage where you can relax after an exhaustive day. This property isperfect for an owner user with a live in family member or a potential investor who would like dual income from the main houseand guest home. Unique home with a huge upside. Seller also has old plans where a 2nd story was potentially considered foradditional sq footage.





http://maps.google.com/maps?q=10864+WELLWORTH+AVE%2C+Los+Angeles%2C+CA+90024

http://maps.google.com/maps?q=10864+WELLWORTH+AVE%2C+Los+Angeles%2C+CA+90024





MLS#13657735


Cloud CMA

Buyer Comments


Courtesy of Power Brokers InternationalLISTING INFORMATION



Comments:











MLS#13657735

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Area Schools




St Paul The Apostle School Private/K-8 (310) 474-1588 0.36 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.47 mi


PK,K0.66 mi










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

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















MLS#13657749

Cloud CMA

Property Details

$1,195,0002223 MIDVALE AVE, Los Angeles

Courtesy of Coldwell Banker-MontanaLISTING INFORMATION



FEATURES

Status details: Active; Zoning: LAR1; CDOM: 3; Number of units: 1; TB map code: 632C5; Appliances:Dishwasher,Dryer,Garbage Disposal,Gas Dryer Hookup,Refrigerator,Washer; Floors: Hardwood; Cooling: Central A/C;Heating: Forced Air; View: Any View; Cross streets: WESTWOOD AND OLYMPIC; Lotsize: 6759;

REMARKS

Fabulous remodeled and rebuilt classic Spanish near Century City, Fox Studios and UCLA. Custom hand painted tile entry,timeless large wood beamed living room, formal dining room and spacious kitchen with breakfast room. Gorgeous master suite,super large walk-in closet and elegant spa bath. Sunny den/convertible 3rd bedroom plus front and rear patios, private yard,central A/C and hardwood floors. Walking distance to Landmark Theaters and Westside Pavilion. Westwood Charter School.





http://maps.google.com/maps?q=2223+MIDVALE+AVE%2C+Los+Angeles%2C+CA+90064






MLS#13657749


Cloud CMA

Buyer Comments


Courtesy of Coldwell Banker-MontanaLISTING INFORMATION



Comments:











MLS#13657749

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COMMUNITY

Data provided by

Cloud CMA

Area Schools








PK,K0.53 mi


Shirayuri Youchien West la Preschool/PK (310) 784-0730 0.72 mi












http://www.education.com/schoolfinder/us/california/los-angeles/shirayuri-youchien-west-la/











MLS#13657863

Cloud CMA

Property Details

$1,079,000147 VETERAN AVE, Los Angeles

Courtesy of Teles Properties, Inc.LISTING INFORMATION



FEATURES

Status details: Active; Zoning: LAR1; CDOM: 3; Number of units: 1; TB map code: 631J1; Appliances: None;Interior: None (N); Floors: Mixed (N); Cooling: None; Heating: Gravity Heating; View: No View; Patio: PatioOpen; Lotsize: 9450;

REMARKS

Attention developers! MAJOR fixer opportunity or build new on this 9,450 square foot flat prime lot w/ existing Traditional 3bed/1.75 bath. Located in Westwood Hills, just South of the Bel Air gates. Sold "AS IS", land value only. 1st time property hasbeen sold in over 50 years. Warner Elementary School.





http://maps.google.com/maps?q=147+VETERAN+AVE%2C+Los+Angeles%2C+CA+90024

http://maps.google.com/maps?q=147+VETERAN+AVE%2C+Los+Angeles%2C+CA+90024





MLS#13657863


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Comments:











MLS#13657863

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COMMUNITY

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Area Schools



Community Magnet Charter Elementary School Charter/K-5 (310) 476-2281 0.68 mi




John Thomas Dye School Private/K-6 (310) 476-2811 1.08 mi

Brentwood School Private/K-12 (310) 476-9633 1.15 mi


Archer School For Girls Private/6-12 (310) 873-7000 1.27 mi


St Martin Of Tours Elementary School Private/K-8 (310) 472-7419 1.51 mi



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




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

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/st-martin-of-tours-elem-school/








MLS#13657839

Cloud CMA

Property Details

$849,0002203 MIDVALE AVE, Los Angeles




FEATURES

Status details: Active; Zoning: LAR1; CDOM: 3; Number of units: 1; TB map code: 632C5; Appliances:Dishwasher,Garbage Disposal,Refrigerator; Floors: Bamboo; Cooling: Air Conditioning; Heating: Central Furnace;View: No View; Lotsize: 6761;

REMARKS

Totally remodeled 3 bed/2 ba Sun-filled Spanish. Authentic exterior design w/ new smooth stucco & archway to front coveredentry. Living rm w/ coved ceiling, picture window & newly installed electric fireplace. Dining room opens to totally updatedkitchen w/ new cabinetry, white caesarstone countertops, stainless steal appliances overlooks newly landscaped backyard. Rearmaster suite w/ large closet & sliding door to patio & spacious backyard. Master bath w/ designer tiles & dual basins. Largelaundry rm w/ storage area & sideyard access to side patio. Newly installed features include natural bamboo flooring, recessedlighting throughout & CAT5 wiring, roof and central HVAC, dual pane windows/sliding door, all new appliances, tanklesswater heater. Upgraded electrical, copper plumbing. Freshly painted interior/exterior. Professionally landscaped front & backyds w/ newly installed auto...











MLS#13657839


Cloud CMA

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MLS#13657839

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COMMUNITY

Data provided by

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Area Schools








PK,K0.49 mi

Shirayuri Youchien West la Preschool/PK (310) 784-0730 0.71 mi












http://www.education.com/schoolfinder/us/california/los-angeles/shirayuri-youchien-west-la/












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 as investments. Butthe flip side, is that your investment is still a home, one you’re likely to occupy for several years or more.

According to the annual Profile of Home Buyers and Sellers, compiled by the National Association of REALTORS®, the primaryreason buyers cite for purchasing a home is simply the desire to own, followed closely by the desire for more space, and a change inthe family situation.

For most people, buying a home is more about giving household members more comfortable living arrangements and putting themcloser 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 ofliving experience, such as moving from an apartment to a single-family home with a private garage and yard. Your family may begrowing, 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.

You’ll also build equity for yourself, instead of for someone else. Every payment you make, plus the rules of inflation will eventuallyallow 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 morehome for the money. Rents are rising, making ownership more affordable than renting in many areas, especially when you factor intax 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 longestperiod of time, as it’s been proven that the longer you own a home, the more equity you’ll build. Today’s market conditions andaffordability, make it more likely that you will reach your homebuying goals, no matter what they are.






INFOCloud CMA

The Homebuying Process

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

Get prequalified - Your lender will look at your income, credit scores, revolving debts, obligations such as child support as well asthe type of loan you choose. Other factors that impact how much home you can buy is the down payment; smaller down paymentsmean higher monthly payments. Last, the interest rate and terms (30-year, fixed or adjustable rate) will determine what you canafford 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 moreexterior 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 withthe type of home you want to buy. Your agent has house-by-house experience in your neighborhood and can offer the best advice onhomes 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 theactivities 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 fora price reduction, but if it’s new on the market, the seller is unlikely to accept a low offer. Ask your real estate professional foradvice.

Get an inspection - A home inspection is a professional third-party opinion of the home’s condition. The inspector will point outthe 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 willrefuse 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 titlecompany, real estate attorney, or whatever is customary in your area. All paperwork is signed by both parties. The lender pays theseller, minus any liens against the home such as the seller’s mortgage. Once all the disbursements have been made, you get the keysto your new home, according to your agreement.

Congratulations! You’re ready to move into your new home.






INFOCloud CMA

Making an Offer

Before you submit an offer, have your agent pull up the most recent sold comparables (CMA) within a reasonable radius of thehome, 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, and home prices are soft orfalling.

• 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 isthe 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. 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 away 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 yourstrengths as a buyer in terms of creditworthiness, flexibility in closing, and why you love this home. Include a copy of yourcomparables 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 sweetenthe deal, such as a full-price offer. Few sellers would accept a discount and a contingency at the same time.

Your real estate professional will help you draft the offer with a price, estimated closing date, and terms, including earnest money (aguarantee 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.






INFOCloud CMA

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 to buy a home, youmay have good news coming.

Loans are available with as little as zero down through the Veterans Administration, for veterans and active-duty military. FHA hasprograms as low as 3.5 percent down for qualifying borrowers who buy within maximum loan limits, up to $625,000.

Borrowers with less than perfect credit can get loans as well. Higher credit scores help qualify borrowers for better rates. Forexample, 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 the home you want. Thelarger 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 put 20 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 moneydown.

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

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

Talk to your lender before you make an offer. Get prequalified, and be up front about the source of your down payment money. Agood lender will explain the true costs of borrowing to you so you can comfortably afford the home you want as well as the monthlypayments.






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Scott McIntoshColdwell Banker

DRE number 01759826

Mobile 310-500-6107

Web www.scott-mcintosh.com

E-mail [email protected]

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Address 11999 San Vicente Blvd. Suite 100, LACA 90049

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westwood homes open house march 17th, 2013

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