9 Steps to Owning

Step - 1 Make the Decision to Buy Real Estate in the San Fernando Valley

It seems obvious, but it's good to note that the first step to buying a house in the San Fernando Valley, is making the decision to buy a home for sale in either Encino, North Hollywood, Sherman Oaks, Studio City or Van Nuys. Consider and write down the reasons why you want a new house. Make sure you think about whether your purchase makes financial sense and how long you plan to live there. Can you afford a house in the San Fernando Valley that will meet your list of requirements? A good rule of thumb is your mortgage payment should not exceed 1/3 of your net monthly income.

Step 2 - Seek Professional Guidance from a San Fernando Valley Realtor

We'd like to SCHEDULE A TIME to meet with you to hear the reasons you want to buy a house and your plans for the future.

During our first meeting, we'll talk about some of the great communities in theSan Fernando Valley like Sherman Oaks, Studio City, Encino, Van Nuys and North Hollywood. We will also discuss the local schools, economic factors and San Fernando Valley market conditions that are liable to affect the market today and tomorrow, as well as how you would like your house and neighborhood to grow with you. We will also discuss your means for financing and if needed, we can help you get pre-qualified for a mortgage loan.

Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal.

Step 3 - Begin the Hunt for Real Estate in the San Fernando Valley Real Estate areas including Encino, North Hollywood, Sherman Oaks, Studio City and Van Nuys

After our initial meeting, we'll search all our resources for houses on the market in the Encino real estate, Van Nuys real estate, Sherman Oaks real estate, Studio City real estate and North Hollywood real estate areas and make sure that they fit your criteria. We'll preview these houses to eliminate the duds. Then, we'll schedule appointments to tour the houses at times that are convenient to you.

As we tour these houses in the San Fernando Valley, we'll point out both positive and negative features and you can tell us what you like and don't like. You'll probably amend your "wish list" as we tour houses, some things will become more important and others less important. With this new information, we'll refine our search criteria to narrow in on the house that you really want.

Step 4 - Know the San Fernando Valley Market

Our knowledge of the local market in the San Fernando Valley real estate area is an essential factor when searching for your next home. We'll let you know when the market in a particular neighborhood, whether it be Encino, Van Nuys, Studio City, Sherman Oaks or North Hollywood, is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration.

In a San Fernando Valley "seller's market". It is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a San Fernando Valley "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.

Step 5 - Find Your Dream House in the San Fernando Real Estate Area

We're confident we'll find the right home for you. When we do, I'll put together the purchase offer tailored to your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).

The offer on an Encino real estate, Van Nuys real estate, Sherman Oaks real estate, Studio City real estate and North Hollywood real estate home is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).

Step 6 - Negotiate the Deal with a San Fernando Valley Realtor

It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept it, submit our own counter offer, or reject the counter offer and move on.

San Fernando Valley real estate market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Sometimes emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.

Step 7 - Get a Loan

During the closing period, you will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. We'll gather the necessary property information your lender will need to close the loan.

Step 8 - Close the Deal

You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. We will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates we believe to be low.

Step 9 - Move In to Your New Home in Encino, North Hollywood, Sherman Oaks, Studio City or Van Nuys

Congratulations! It's time to move into your new house in the San Fernando Valley real estate area and make it your home. Enjoy this exciting time. We'll give you a checklist to help you remember the numerous details that will make your moving day a pleasure.