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Julie and The Gelfond Group have extensive experience in
selling estate properties and understands that a luxury home buyer
has special needs. Whether you are looking for a family home, vacation
property, executive investment, or a property to build on we know
that quality, design, location, and unique amenities are important
to you. You want a home to express your personality, tastes, and
lifestyle…you want the home of your dreams.
We have sold the best in luxury real estate from architecturally
unique and elegant homes to premier property surrounded by exquisite
natural beauty. We understand the high-end market and can help you
find the right home in a community that best meets your highly specialized
needs.
You want a real estate team with the experience to help guide you
through the full range of options and unique challenges that comes
with buying either an existing luxury property or using your own
home plans to build your ideal estate.
We will not simply look for homes already on the market, but with
our network of contacts, we can help you to find that special home
even if it is not currently listed. We understand that it might
take some time to find a premier property with the desired beauty
and privacy you desire, and we are committed to putting our experience
and know-how to work for you.
We will be your advocate during the home buying process and respect
that you have special requirements.
- We respect your need for protecting your privacy and confidentiality.
- We have an experienced eye for enduring craftsmanship, superior
quality, and architectural details.
- We have an in-depth understanding of the luxury market and the
communities that best match your lifestyle and specialized needs.
- We will go above and beyond to find you that premier property
that will fulfill the dreams for your new home.
Julie and The Gelfond Group are the premier team in the
luxury home market.
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It is highly rewarding to buy, own and maintain your own home.
Whether this is your first home or you have experience with the
home buying process, we can help. When you have the tools at your
fingertips, you can be confident in your ability to search, finance
your home, negotiate terms and be prepared at closing.
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Purchasing a new home can be overwhelming. Without the right resources
and information, the buy process can be stressful and frustrating.
With our services, you can avoid the pitfalls. We'll be there to
help every step of the way.
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Adjustable Rate Mortgage (ARM)
A mortgage, which allows the lender to adjust the mortgage's
interest rate periodically on the basis of changes in a specified
index. Interest rates may move up or down, as market conditions
change. The change in interest rate will result in a change in the
periodic payments due under the mortgage. ARMs are attractive when
short-term interest rates are trending lower.
Balloon Mortgage
Usually a short-term fixed-rate loan that involves small payments
for a certain period of time with the balance due in a single, large
payment at a time specified in the contract. Whenever the balloon
mortgage becomes due, the entire unpaid balance is due. Generally,
the homeowner must either refinance or sell the property.
Buy-Down
The payment of extra money on a loan now so as to provide a
lower interest rate over either a given period or over the life
of the loan. To buy-down a mortgage, the buyer pays additional points
to the lender, which will decrease the interest rate for a specific
period.
Conforming Loan
Conventional home mortgages, first mortgages up to loan amounts
mandated by Congressional directive, which meet the qualifications
for sale or delivery to either the Federal National Mortgage Association
(FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC).
Construction Loan
A structured, short-term loan to provide funds necessary to
begin construction on buildings or homes.
Conventional Mortgage
A mortgage loan made by an institutional lender without the inclusion
of government guarantees such as VA or FHA loans.
Convertible ARM
The convertible ARM is a combination of both fixed-rate and
adjustable rate mortgages, allowing the best of both options in
one package.
Deferred Interest Mortgage
A mortgage in which the payment is not sufficient to cover
the principal and the interest and the payment portion of the interest
is postponed until a certain date at which time the interest postponed
is added to the principle owing.
Federal Home Loan Mortgage Corporation (FHLMC)
The Federal National Mortgage Association is a congressionally
chartered, shareholder-owned company and is the largest national
supplier of home mortgage funds. It is commonly known as Freddie
Mac. The company buys mortgages from lending institutions, pools
them with other loans, and sells shares to investors. Detailed information
may be found at http://www.freddiemac.com.
Federal Housing Administration (FHA)
An agency of the federal government, the Division of the Department
of Housing and Urban Development, that sets standards for the underwriting
of private mortgages and insures residential mortgages made by private
lenders.
Federal Housing Administration (FHA) Loans
Federal Housing Administration (FHA) low-rate loans are available
to Americans with smaller incomes who are interested in modestly
priced homes. Down payment requirements are usually lower than the
prevailing ones.
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Federal National Mortgage Association (FNMA)
The U.S.'s largest supplier of mortgages to home buyers and
owners, a corporation established by Congress and owned by stockholders.
It is commonly referred to as 'Fannie Mae,' this government-sponsored
enterprise is chartered by Congress. This federally chartered agency
buys mortgages from lending institutions, pools them with other
loans, and sells shares to investors. Detailed information may be
found at http://www.fanniemae.com
Fixed-Rate Mortgage
The interest rate you pay and the monthly principal and interest
payments are agreed upon from the outset and will not change throughout
the entire term of the mortgage.
Government National Mortgage Association (GNMA)
A government-owned corporation within the U.S. Department of
Housing and Urban Development, it is also referred to as 'Ginnie
Mae,’. This government agency guarantees the payment of principal
and interest on all of its pass-through securities, and its guarantee
is backed in turn by the full faith and credit of the U.S. Government.
Graduated Payment Mortgage (GPM)
A mortgage that usually starts the borrower with low payments
that are gradually increased over five to ten years, before leveling
off for the remainder of the term of the loan until the loan is
fully amortized. Negative amortization usually occurs until the
payment reaches the level payment stage. Usually government insured
loans (VA or FHA)
Growing Equity Mortgage (GEM)
This is a long-term mortgage whereby the borrower agrees to
increase his payment each year by an agreed amount. The added money
per payment is applied directly to the outstanding principal on
the mortgage. The mortgage thereby is paid off in a shorter number
of years.
Renegotiable Rate Mortgage (RRM)
Similar to an Adjustable Rate Mortgage, this type of mortgage
allows the interest rates and payments to be adjusted periodically
according to an index.
Reverse Annuity Mortgage (RAM)
A type of mortgage where the property's equity serves as security
for periodic payments made by the lender to the borrower. Mortgage
is generally paid out upon the sale of the property.
Rollover Mortgage (ROM)
A mortgage where the payments are only guaranteed for three, four,
or five years. The borrower is allowed to refinance at the end of
the term at the interest rate then applicable.
Shared Appreciation Mortgage (SAM)
It is a loan arrangement where two or more parties participate in
the purchase of real estate and share the appreciation and tax deduction.
Similar to shared equity mortgages.
Veterans' Administration Loans
Mortgage loans to veterans by banks, savings and loans, or other
lenders that are guaranteed by the Veterans' Administration, enabling
veterans to buy a residence with little or no money down.
Wraparound Mortgage
A secondary financing option in which a new larger mortgage is created
to encompass the first mortgage. This large second mortgage is used
to preserve the low interest rate on the first mortgage for a potential
buyer.
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 Drive
To Learn
Evaluate as you drive though a community. Consider the following
questions as a basis for determining your location needs:
- Where is the nearest shopping center, bus line, police station
and library?
- What schools are available and school district are you in?
- What types of homes (single family, apartments, condominiums)
are in the neighborhood?
- How far apart are the homes?
- How far is it to your work?
- What community resources are available?
- Generally, where are the cars parked (driveways, garages, street)?
- Do you notice a lot of noise, traffic or pollution?
- Are the homes in good repair and the landscaping well kept?
Finding The Right Home
Keep your eyes open and your notebook in hand as you walk through
a potential home. Consider the following questions as a basis for
determining your needs as a homeowner:
- How long has the home been on the market?
- Why is the home being sold?
- What is the asking price of the home?
- Has the price been lowered?
- Is the price comparable to other homes in the neighborhood?
- What is the down payment required?
- Is the house structurally sound?
- Is there room enough for the present and the future?
- Do you like the floor plan of the home?
- What condition is the yard in?
- What improvements must be made?
- Will the seller repair or replace any items that need repair
or replacement?
Think carefully about each house you see and don’t be in
a hurry. Julie and The Gelfond Group can point out the pros and cons of each
home from a professional standpoint.
The Offer
Making an offer to buy a home entails many factors. You, Julie, and
The Gelfond Group will discuss the following factors prior to putting
the offer on the table:
- Amount of earnest money
- Down payment
- Price you are offering
- Details of financing
- Proposed move in date
- Proposed closing date
- Details of the sale
- How long the offer is valid
The seller will either accept the offer as presented, or make a
counter offer and either you will agree to the terms in counter
offer or you will submit another proposal. When all the parties
involved have agreed upon the details, initialed any revisions,
and signed the final agreement, then an offer becomes a contract.
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The
Gelfond Way
Money
Matters
Once
the contract is signed, Julie and The Gelfond Group will continue
to be your advocate and ensure that your best interests are served.
Some of the details they will be available to handle are: