westwood homes open house january 19th, 2014

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Buyer Tour PREPARED FOR Westwood HomeS Open House Jan 19th 2014 JANUARY 18, 2014

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This buyer tour booklet lists all the homes open in Westwood on Sunday January 19th, 2014.

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Page 1: Westwood Homes Open House January 19th, 2014

Cloud CMA

Buyer Tour

PREPARED FOR

Westwood HomeS Open House Jan 19th 2014

JANUARY 18, 2014

Page 2: Westwood Homes Open House January 19th, 2014

LISTINGSCloud CMA

Map of All Listings

MLS # Status Address Price

1 14727669 A 11228 W SUNSET BLVD, Los Angeles $1,749,000

2 14729001 A 10718 LINDBROOK DR, Los Angeles $1,699,000

3 SB13252759 A 1557 Kelton Avenue, Los Angeles $1,699,000

4 14727217 A 1636 WARNALL AVE, Los Angeles $1,325,000

Status: A = Active

Page 3: Westwood Homes Open House January 19th, 2014

MLS#14727669

Cloud CMA

Property Details

$1,749,00011228 W SUNSET BLVD, Los Angeles

Courtesy of The AgencyLISTING INFORMATION

MLS#: 14727669 Beds: 3 Sq Ft: 1,948 List Date: Jan 9, 2014

Status: Active Baths: 2/0 Year Built: 1957 DOM: 9

FEATURES

Status details: Active; Appliances: Freezer,Refrigerator; Floors: Carpet,Hardwood,Stone (N); Cooling: CentralA/C; Heating: Central Furnace; View: No View; TB map code: 631J1; Zoning: LAR1; Pool: Private Pool;Spa: Private Spa; Patio: Patio Open; CDOM: 73; Lotsize: 12064;

REMARKS

Beyond a walled and gated entry, one discovers this quintessential mid-century showplace designed by Palmer andKrisel, architects. The open floor plan merges into a remarkable blend of spaces while maintaining an unfetteredindoor/outdoor flow for year-round entertaining. It boasts a living room with fireplace, vaulted ceilings, floor-to-ceiling windows and slate flooring. Its gourmet kitchen with center island features custom cabinets and stainlessappliances. A generous master suite with walk-in closets and bath with stone floors is accompanied by two spaciousguest bedrooms. Private, landscaped gardens replete with an inviting pool and spa complement all that surrounds.

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 4: Westwood Homes Open House January 19th, 2014

MLS#14727669

How do you rate this property?

Cloud CMA

Buyer Comments

$1,749,00011228 W SUNSET BLVD, Los Angeles

Courtesy of The AgencyLISTING INFORMATION

MLS#: 14727669 Beds: 3 Sq Ft: 1,948 List Date: Jan 9, 2014

Status: Active Baths: 2/0 Year Built: 1957 DOM: 9

Comments:

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 5: Westwood Homes Open House January 19th, 2014

MLS#14727669

Cloud CMA

Listing Photos

$1,749,00011228 W SUNSET BLVD, Los Angeles

Page 7: Westwood Homes Open House January 19th, 2014

COMMUNITY

Data provided by

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Area Schools

$1,749,00011228 W SUNSET BLVD, Los Angeles

School Type Phone Distance

Community Magnet Charter Elementary School Charter/K-5 (310) 476-2281 0.6 mi

Brentwood School Private/K-12 (310) 476-9633 0.73 mi

Archer School For Girls Private/6-12 (310) 873-7000 0.85 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 1.1 mi

Marymount High School Los Angeles Private/9-12 (310) 472-1205 1.17 mi

Brentwood Science Elementary School Magnet/K-5 (310) 826-5631 1.79 mi

Kenter Canyon Elementary School Charter/K-5 (310) 472-5918 1.83 mi

St Sebastian School Private/1-8 (310) 473-3337 1.88 mi

University Senior High School Public/8-12 (310) 914-3500 1.89 mi

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

Page 8: Westwood Homes Open House January 19th, 2014

COMMUNITYCloud CMA

Area Restaurants

$1,749,00011228 W SUNSET BLVD, Los Angeles

Name Type Distance Rating

Craft American (New) 2.87 mi1041 reviews

Totoraku Japanese 3.08 mi159 reviews

Da Pasquale Restaurant Italian, Pizza 3.12 mi238 reviews

Urasawa Japanese 3.54 mi358 reviews

Spago American (New), Asian Fusion, Japanese 3.71 mi939 reviews

Melisse French, Seafood 3.76 mi648 reviews

Blue Stove Tapas/Small Plates, American (New) 4.47 mi271 reviews

Haru Sushi Café Japanese, Sushi Bars 5.01 mi701 reviews

Angelini Osteria Italian 6.47 mi850 reviews

Okumura Restaurant Sushi Bars, Japanese 6.65 mi108 reviews

Genwa Korean Bbq Korean, Barbeque 6.96 mi1329 reviews

Providence Seafood 7.59 mi1528 reviews

Page 9: Westwood Homes Open House January 19th, 2014

MLS#14729001

Cloud CMA

Property Details

$1,699,00010718 LINDBROOK DR, Los Angeles

Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION

MLS#: 14729001 Beds: 3 Sq Ft: 2,824 List Date: Jan 17, 2014

Status: Active Baths: 3/0 Year Built: 1938 DOM: 1

FEATURES

Status details: Active; Appliances: Dishwasher,Garbage Disposal; Floors: Carpet,Hardwood,Tile (N); Cooling:None; Heating: Central Furnace; View: No View; TB map code: 632B3; Zoning: LAR1; Patio: Patio Open;CDOM: 1; Number of units: 1; Lotsize: 8101;

REMARKS

Set in much sought after Little Holmby is this well-maintained, spacious Traditional home with three large bedroomsand three baths. The light-filled Living Room is large with a bay window and central fireplace. Through a set ofFrench doors is a sunny Family Room with an expansive skylight and wet bar. This room opens to a warm wood-paneled Den charmed by a vaulted beamed ceiling and another fireplace on one end. The large Formal Dining Roomleads to a sweet and sunny Breakfast Room and beyond is the sparkling kitchen, recently refreshed. Adjacent is aLaundry Room and direct access to an attached two-car garage. The spacious backyard features a lovely patio withbuilt-in BBQ, sport court and grassy area. This home is located in the coveted Warner Avenue School District. OPENHOUSE SCHEDULE: 1/19 1-4; 1/21 11-2; 1/26 1-4 OFFERS REVIEWED BEGINNING 1/28

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 10: Westwood Homes Open House January 19th, 2014

MLS#14729001

How do you rate this property?

Cloud CMA

Buyer Comments

$1,699,00010718 LINDBROOK DR, Los Angeles

Courtesy of Berkshire Hathaway HomeServices California PropertLISTING INFORMATION

MLS#: 14729001 Beds: 3 Sq Ft: 2,824 List Date: Jan 17, 2014

Status: Active Baths: 3/0 Year Built: 1938 DOM: 1

Comments:

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 11: Westwood Homes Open House January 19th, 2014

MLS#14729001

Cloud CMA

Listing Photos

$1,699,00010718 LINDBROOK DR, Los Angeles

Page 13: Westwood Homes Open House January 19th, 2014

COMMUNITY

Data provided by

Cloud CMA

Area Schools

$1,699,00010718 LINDBROOK DR, Los Angeles

School Type Phone Distance

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.42 mi

St Paul The Apostle School Private/K-8 (310) 474-1588 0.47 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.59 mi

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.59 mi

Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.62 mi

Global Montessori School Of WestwoodPrivate, Montessori/

PK,K0.91 mi

Westwood Elementary School Charter/K-5 (310) 474-7788 1.06 mi

Marymount High School Los Angeles Private/9-12 (310) 472-1205 1.09 mi

New Horizon School Westside Private/PK,K-5 (310) 231-6092 1.42 mi

Nora Sterry Elementary School Public/K-5 (310) 473-2172 1.44 mi

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

Page 14: Westwood Homes Open House January 19th, 2014

COMMUNITYCloud CMA

Area Restaurants

$1,699,00010718 LINDBROOK DR, Los Angeles

Name Type Distance Rating

RockSugar Pan Asian Kitchen Asian Fusion, Indian, Thai 1.04 mi1137 reviews

Craft American (New) 1.27 mi1041 reviews

Totoraku Japanese 1.53 mi159 reviews

Da Pasquale Restaurant Italian, Pizza 1.71 mi238 reviews

Urasawa Japanese 2.11 mi358 reviews

Spago American (New), Asian Fusion, Japanese 2.28 mi939 reviews

The Bazaar Spanish, Basque, Lounges 3.5 mi2130 reviews

Haru Sushi Café Japanese, Sushi Bars 3.59 mi701 reviews

Melisse French, Seafood 4.04 mi648 reviews

Angelini Osteria Italian 5.12 mi850 reviews

Genwa Korean Bbq Korean, Barbeque 5.47 mi1329 reviews

Providence Seafood 6.3 mi1528 reviews

Page 15: Westwood Homes Open House January 19th, 2014

MLS#SB13252759

Cloud CMA

Property Details

$1,699,0001557 Kelton Avenue, Los Angeles

Courtesy of C-21 Amber RealtyLISTING INFORMATION

MLS#: SB13252759 Beds: 4 Sq Ft: 2,534 List Date: Dec 27, 2013

Status: Active Baths: 2.00 Year Built: 1945 DOM: 22

FEATURES

Status details: Active; Interior: 2 Staircases; Kitchen: Galley Kitchen; Floors: Carpet - Partial (N); Cooling:None; Heating: Forced Air; Pool: No Pool; CDOM: 22; Water: Water District,Public; Lot description: BackYard,Sidewalks; Cross streets: massachusetts; Number of units: 1; Lotsize: 6704; Acres: 0.154;

REMARKS

One of the best priced single family property located within zipcodes of 90024 and nearby following: UCLA,Westwood park, Wilshire blvd, Federal Building, Mormon Temple, and only couple blocks west of Westwood blvdwith fine shops, restaurants, movie theater & specialty super markets.Sellers had enjoyed this sweet home with highlydesired neighborhood for long time raising children and much of family functions. The home features over 2500sqftwith four bedrooms, den, living room with fireplace kitchen with adjacent breakfast, 2 bathrooms & laundry rooms.Hardwood floors are covered with carpeting, & huge back yard has some big trees for shades and a shed area.Thisproperty has potential as mostly everything is in its original condition. This is a great home for an investor/buyer, orsomeone looking for a "real project. Don?t wait too long, Sellers are trustees and motivated to sell.

Source: CARETS_MRMLSInformation is deemed reliable but not guaranteed.

Page 16: Westwood Homes Open House January 19th, 2014

MLS#SB13252759

How do you rate this property?

Cloud CMA

Buyer Comments

$1,699,0001557 Kelton Avenue, Los Angeles

Courtesy of C-21 Amber RealtyLISTING INFORMATION

MLS#: SB13252759 Beds: 4 Sq Ft: 2,534 List Date: Dec 27, 2013

Status: Active Baths: 2.00 Year Built: 1945 DOM: 22

Comments:

Source: CARETS_MRMLSInformation is deemed reliable but not guaranteed.

Page 17: Westwood Homes Open House January 19th, 2014

MLS#SB13252759

Cloud CMA

Listing Photos

$1,699,0001557 Kelton Avenue, Los Angeles

Page 18: Westwood Homes Open House January 19th, 2014

COMMUNITY

Data provided by

Cloud CMA

Area Schools

$1,699,0001557 Kelton Avenue, Los Angeles

School Type Phone Distance

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

Global Montessori School Of WestwoodPrivate, Montessori/

PK,K0.37 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 0.38 mi

New Horizon School Westside Private/PK,K-5 (310) 231-6092 0.68 mi

Nora Sterry Elementary School Public/K-5 (310) 473-2172 0.7 mi

Westwood Elementary School Charter/K-5 (310) 474-7788 0.78 mi

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.89 mi

St Sebastian School Private/1-8 (310) 473-3337 1.05 mi

West L A Baptist School Private/7-12 (310) 826-2050 1.15 mi

Indian Springs Continuation Alt./9-12 (310) 914-3600 1.19 mi

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

Page 19: Westwood Homes Open House January 19th, 2014

COMMUNITYCloud CMA

Area Restaurants

$1,699,0001557 Kelton Avenue, Los Angeles

Name Type Distance Rating

Totoraku Japanese 1.25 mi159 reviews

RockSugar Pan Asian Kitchen Asian Fusion, Indian, Thai 1.36 mi1137 reviews

Craft American (New) 1.59 mi1041 reviews

Da Pasquale Restaurant Italian, Pizza 2.22 mi238 reviews

Spago American (New), Asian Fusion, Japanese 2.72 mi939 reviews

Melisse French, Seafood 3.43 mi648 reviews

The Bazaar Spanish, Basque, Lounges 3.91 mi2130 reviews

Haru Sushi Café Japanese, Sushi Bars 4.0 mi701 reviews

Blue Stove Tapas/Small Plates, American (New) 4.01 mi271 reviews

Angelini Osteria Italian 5.54 mi850 reviews

Genwa Korean Bbq Korean, Barbeque 5.78 mi1329 reviews

Providence Seafood 6.73 mi1528 reviews

Page 20: Westwood Homes Open House January 19th, 2014

MLS#14727217

Cloud CMA

Property Details

$1,325,0001636 WARNALL AVE, Los Angeles

Courtesy of Gibson InternationalLISTING INFORMATION

MLS#: 14727217 Beds: 2 Sq Ft: 1,765 List Date: Jan 16, 2014

Status: Active Baths: 1/1/1/0 Year Built: 1925 DOM: 2

FEATURES

Status details: Active; Appliances: Dishwasher,Garbage Disposal,Refrigerator; Floors: Carpet; Roof: ClayTile,Flat Roof; Mello Roos: No; Cooling: Central A/C; Heating: Central Furnace; View: No View; TB mapcode: 632D3; Zoning: LAR1; Pool: No Pool; Spa: None; CDOM: 2; Number of units: 1; Lotsize: 7172;

REMARKS

Well maintained, single level and original home located in the coveted Comstock Hills neighborhood of Westwoodjust of East of Beverly Glen. The bright and open floor plan consists of a large formal living room with barrelvaulted ceiling and fireplace, sizable formal dining room, adjoining den/office with built-in cabinetry, masterbedroom with ample closet space, second en-suite guest bedroom, and cozy kitchen with breakfast nook and halfbath. In addition to the main residence, there is a detached rec room and bath off the extended garage. The aboveaverage lot is totally flat easily allowing for expansion. Conveniently located near Westwood, Century City andBeverly Hills, this is the perfect opportunity to restore this lovely home to its original luster or start from scratch andbuild your dream home. No showings until Sunday's open house.

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 21: Westwood Homes Open House January 19th, 2014

MLS#14727217

How do you rate this property?

Cloud CMA

Buyer Comments

$1,325,0001636 WARNALL AVE, Los Angeles

Courtesy of Gibson InternationalLISTING INFORMATION

MLS#: 14727217 Beds: 2 Sq Ft: 1,765 List Date: Jan 16, 2014

Status: Active Baths: 1/1/1/0 Year Built: 1925 DOM: 2

Comments:

Source: CARETS_CLAWInformation is deemed reliable but not guaranteed.

Page 22: Westwood Homes Open House January 19th, 2014

MLS#14727217

Cloud CMA

Listing Photos

$1,325,0001636 WARNALL AVE, Los Angeles

Page 23: Westwood Homes Open House January 19th, 2014

MLS#14727217

Cloud CMA

More Listing Photos

$1,325,0001636 WARNALL AVE, Los Angeles

Page 24: Westwood Homes Open House January 19th, 2014

COMMUNITY

Data provided by

Cloud CMA

Area Schools

$1,325,0001636 WARNALL AVE, Los Angeles

School Type Phone Distance

Sinai Akiba Academy Private/K-8 (310) 475-6401 0.55 mi

Fairburn Avenue Elementary School Public/K-5 (310) 470-1344 0.6 mi

El Rodeo Elementary School Public/K-8 (310) 229-3670 0.68 mi

Moreno High (Continuation) High School Alt./9-12 (310) 551-5100 0.71 mi

Beverly Hills High School Public/9-12 (310) 229-3685 0.81 mi

Warner Avenue Elementary School Public/K-5 (310) 475-5893 0.99 mi

Good Shepherd Catholic School Private/PK,K-8 (310) 275-8601 1.07 mi

Le Lycee Francais de Los Angeles-Century CityElementary School

Private/K-1 (310) 553-7444 1.08 mi

Ralph Waldo Emerson Middle School Public/6-8 (310) 234-3100 1.08 mi

St Paul The Apostle School Private/K-8 (310) 474-1588 1.09 mi

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

Page 25: Westwood Homes Open House January 19th, 2014

COMMUNITYCloud CMA

Area Restaurants

$1,325,0001636 WARNALL AVE, Los Angeles

Name Type Distance Rating

Craft American (New) 0.47 mi1041 reviews

Da Pasquale Restaurant Italian, Pizza 0.96 mi238 reviews

Totoraku Japanese 1.26 mi159 reviews

Urasawa Japanese 1.32 mi358 reviews

Spago American (New), Asian Fusion, Japanese 1.49 mi939 reviews

The Bazaar Spanish, Basque, Lounges 2.7 mi2130 reviews

Haru Sushi Café Japanese, Sushi Bars 2.8 mi701 reviews

Mari Vanna LA Russian 3.09 mi64 reviews

Angelini Osteria Italian 4.33 mi850 reviews

Genwa Korean Bbq Korean, Barbeque 4.66 mi1329 reviews

Melisse French, Seafood 4.69 mi648 reviews

Providence Seafood 5.52 mi1528 reviews

Page 26: Westwood Homes Open House January 19th, 2014

INFOCloud CMA

The Homebuying Process

Follow These Steps

Get prequalified - Your lender will look at your income, credit scores, revolving debts, obligations such as child supportas well as the type of loan you choose. Other factors that impact how much home you can buy is the down payment;smaller down payments mean higher monthly payments. Last, the interest rate and terms (30-year, fixed or adjustablerate) will determine what you can afford in monthly payments.

Make your wish list - Decide where you want to live and how many bedrooms and baths you’ll need. Consider lifestyle -condominiums offer shared amenities, with little responsibility. Single-family homes offer more space and privacy, butmuch more exterior and yard maintenance.

Hire a real estate professional - Your real estate professional should be expert in the area where you want to live andfamiliar with the type of home you want to buy. Your agent has house-by-house experience in your neighborhood andcan offer the best advice on homes in your range.

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

Make an offer - Your offer depends on the current market. If a home has been on the market a long time, you can askthe seller for a price reduction, but if it’s new on the market, the seller is unlikely to accept a low offer. Ask your realestate professional for advice.

Get an inspection - A home inspection is a professional third-party opinion of the home’s condition. The inspector willpoint out the age of systems, and large and small repairs that are needed, so you’ll know what you’re facing as the nextowner.

Get an appraisal - The bank appraisal determines market value. If the home doesn’t appraise for the purchase price, thebank will refuse to make the loan unless you renegotiate with the seller. If it appraises, the lender will move towardclosing.

Go to closing - Once final negotiations are complete, the parties to the transaction meet at the escrow office. This couldbe a title company, real estate attorney, or whatever is customary in your area. All paperwork is signed by both parties.The lender pays the seller, minus any liens against the home such as the seller’s mortgage. Once all the disbursementshave been made, you get the keys to your new home, according to your agreement. Congratulations! You’re ready tomove into your new home

Page 27: Westwood Homes Open House January 19th, 2014

INFOCloud CMA

What Are Your Homebuying Goals?

With the dramatic rise and fall of housing prices over the last decade, consumers have new respect for homes asinvestments. But the flip side, is that your investment is still a home, one you’re likely to occupy for several years ormore.

Ownership

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

For most people, buying a home is more about giving household members more comfortable living arrangements andputting them closer to jobs, favorite activities, other family and friends. What are your goals for buying a home? Youmight want a better home and neighborhood. You might want a different kind of living experience, such as moving froman apartment to a single-family home with a private garage and yard. Your family may be growing, so you have to thinkabout school districts and proximity to parks and other recreation.

If you’re not certain, you might think about what would change about your situation if you became a homeowner. You’lldefinitely be more established. If you’re like most homebuyers, you expect to stay in your new home about 10 years.

Equity

You’ll also build equity for yourself, instead of for someone else. Every payment you make, plus the rules of inflation willeventually allow you to recoup most if not all of your investment, or make a profit when you sell. Affordability may alsobe an important factor for you. The combination of low interest rates and low prices allows you to buy more home forthe money. Rents are rising, making ownership more affordable than renting in many areas, especially when you factorin tax incentives such as mortgage interest deductions and property taxes allowable as deductions against your income.

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

Page 28: Westwood Homes Open House January 19th, 2014

INFOCloud CMA

How to Decide Which Home to Buy

Buying a home is a long-term commitment. The home you buy should be affordable, yet offer the size, features andamenities you and your family want.

Affordability

Your monthly payments should be comfortable for you to handle, in relationship to your total obligations, about 28%of gross monthly income. Your house payment and your debts should not exceed 36% of your income, includingrevolving credit, student loans, and child support. You should also be in the correct loan for your needs. A fixed rate ismore expensive, but offers more protection than an adjustable rate mortgage that can reset to a higher amount, makingyour monthly payments higher.

Also, consider the monthly operating costs of the home including utilities, HOA fees, landscaping, commuting, andother costs.

Location

Location is about convenience, and you’ll pay a premium to be closer to work centers, parks, shopping andtransportation. You can buy a smaller home, or you can buy a home in need of updates to get closer to where you needto be. Think about your commutes to frequent destinations, including jobs, schools, family and friends. To get “morehouse,” you may have to move further away from core city centers.

Features

Make a list of must-have features so you can narrow your home search. A front porch, a two-car garage, hardwood floors,and eat-in kitchen can all add to the enjoyment of your home. Just as important is how your home is designed. Thenumber of bedrooms and baths should suit your household members, and the layout should suit your lifestyle. If youlike to entertain, you should have plenty of dining space and storage for dishes and cookware. If you frequently work athome, you’ll need a home office or at least a quiet designated workspace. Just make sure the home you choose allowsroom for your family to grow.

Talk to your lender and see what you can qualify to buy, then talk with your real estate professional about the home youhave in mind. With professional guidance, you should be able to find and buy the home of your dreams, where you’ll behappy for a long time to come.

Page 29: Westwood Homes Open House January 19th, 2014

INFOCloud CMA

Making an Offer

Before you submit an offer, have your agent pull up the most recent sold comparables (CMA) within a reasonable radiusof the home, so you can compare the home fairly in terms of location, size, features, and amenities. Next, ask your agentabout market conditions, so you can choose a strategy.

Strategy

In a buyer’s market, discounts are common because there are fewer buyers, more properties for sale, and home prices aresoft or falling. In a seller’s market, homes sell quickly for full price or higher because there are plenty of buyers and fewhomes for sale. Whether you are in a buyer’s market or a seller’s market, your goal is to buy the home at a fair price. Ifyou were the seller, what is the lowest possible price you’d accept?

Risk

Low-balling the seller is risky. If the seller feels insulted by your offer, you’ve lost the opportunity to negotiate. On theother hand, some sellers are simply unrealistic about their home’s value. Maybe your offer will be their wake-up call. Ifthe seller’s home is offered at a reasonable price, pay asking price or close to it. A home priced to sell will sell quickly.

Is there a way to sweeten your offer with a quick closing or an all-cash sale? To show the seller you’re serious, include acopy of your lender’s pre-approval letter, along with a cover letter summarizing your strengths as a buyer in terms ofcreditworthiness, flexibility in closing, and why you love this home. Include a copy of your comparables to show whyyou feel your offer is a fair price for the property. If your offer is conditional, such as your need to sell another homebefore closing on the seller’s, you’ll have to find a way to sweeten the deal, such as a full-price offer. Few sellers wouldaccept a discount and a contingency at the same time.

Reward

Your real estate professional will help you draft the offer with a price, estimated closing date, and terms, includingearnest money (a guarantee that you’ll perform as a buyer in good faith), final approval by your lender, and your right tohave an inspection. Once your offer is negotiated and accepted, your earnest money will be sent to the escrow agent'soffice. Now the inspections occur, and this is where the contract negotiations can break down. During the inspectionprocess, the inspector will tell you about the condition of appliances, heat and cooling systems, roofs, electrical andplumbing systems, etc, and if your future home is up to current city codes. You should only renegotiate a repair when itwasn’t obvious before, or when a system is unsafe or not functioning. Once the seller has agreed, your offer is now abinding contract, and you’ll proceed to closing.

Page 30: Westwood Homes Open House January 19th, 2014

INTRO

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What's Up With The Bar Code?

This QR code makes it easy for you to download thisreport to your smart phone.

1. Make sure your phone can scan a QR code withits camera. If you don't already have one, you can tryhttp://cloudcma.com/qr on your phone's browser todownload an app, or do a Google search for the model ofyour phone along with the term "QR reader".

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Scott McIntoshColdwell Banker

BRE number 01759826

Mobile 310-500-6107

Web www.scott-mcintosh.com

E-mail [email protected]

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, LACA 90049

Office 310-979-3942

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