A: Since 2007, we have been consistently listing and selling homes in the Pico Area/Miracle Mile and Beverlywood neighborhoods and surrounding in Los Angeles.  We take pride in gaining maximum exposure on each of our listings and our goal is always to sell for full list price or more. We take each client, each sale VERY seriously and with the utmost integrity. We believe that we have a level of quality in our listings that is unparalleled in our industry.  We do not believe in compromising our marketing quality regardless of the size, style, or price point of your home - We will always market our properties like multi-million dollar homes - After all, if we put our name behind your home, our reputation is on the line too! The Proof? Last year, our homes sold on average for within 2% of original list price, one of the best track records in the area.

Section 2: Questions and Answers with Dana Dukelow, Mortgage Consultant

Question: "What are closing costs?"

Closing costs are any fees and any prepaid interest charges that a buyer or seller can anticipate during a transaction.

Question: "How much are closing costs?"

About 1-2% of the purchase price is a good range for the buyer. Included in this range are lender fees which can vary from .5% and up.

Seller closing costs can range from 1.5 to 3 percent of the purchase price. In Los Angeles, 1.5 - 2% is a good range to estimate for closing costs. This includes City and County Transfer Taxes as well as title insurance (which is usually always paid by seller).  In addition, the seller pays broker fees which will additionally increase seller closing costs by about 6% more for a full service broker (or as little as 2% for a discount broker).

Question: "What do my general monthly payments include?"

Monthly payments will include: mortgage payment, a portion of the annual tax bill, a portion of the annual home insurance bill and home owner's association fees (if the property is a condo or towhouse).

Question: "What does buying down points mean?

This refers to when a buyer chooses to pay a higher origination fee in order to secure a lower interest rate.

Question: "What are lender fees and what should I expect?"

Lender fees can range from a half percent of the purchase to one and a half percent of the purchase price, depending on the rate and program that the buyer is choosing. The buyer usually has option available that can secure him a lower lender fee in exchange for a higher interest rate.

Question: "People talk about bad or sneaky lenders. Is there anything I should watch out for?

Yes, you should use a lender that has been referred to you by a professional that has had experience with that lender. You might also consider obtaining more than one quote. Most lenders should have information about their career history and information about the company they work for. There are sneaky or bad employees in every industry; we see it first hand everyday. Consumers should take it upon themselves to screen their lender and ask pertinent questions before proceeding with any professional.

Question: Should I plan to refinance? Are there benefits of taking equity out of my home?

One would refinance if rates have fallen to where it makes sense to refinance. Keep in mind, when refinancing, there is usually a lender fee involved, so it is important that you are getting enough of a rate change to substantiate the fee for you. Taking equite out of your home should be something that is being done for a financial purpose. It should be considered after consulting with your lending professional. Often times financing school tuition, car purchases or investment property by means of refinancing your home can have a lot of tax benefits.