Lee Morof's Real Estate Blog

Many home buyers walk into prospective homes for sale in Southeast Michigan with an “as is” attitude. They fail to consider that the home sellers may be willing to make repairs or updates in order to get the home sold.

This isn’t hard to understand. Most people do not buy homes for sale in Southeast Michigan frequently so they aren’t familiar with exactly what they can and cannot ask for. A home isn’t like a car that you might purchase new every few years, or clothes that you shop for all the time and know how to investigate, compare, and price appropriately.

This lack of knowledge is possibly the best reason for seeking the help of a qualified professional REALTOR®. They handle home purchases daily and can help you with what to watch out for, what price to pay and what you can and can’t haggle over.  They’ll even handle the negotiations for you.

Let’s get back to repairs, updates or price reductions you may want to have your agent negotiate for you:

• Electrical Wiring: Especially in older homes for sale in Southeast Michigan the wiring is likely to be old, outdated or even hazardous. Make sure you have the wiring thoroughly inspected. This is not a cheap fix.  If there are problems, they should be solved before you purchase, or you should be offered a greatly reduced price to reflect the cost to you of replacement. This is a very important item and even if you accept a price reduction do not be tempted to simply enjoy the extra cost benefits without using it to make the needed repairs. Bad wiring is a fire hazard that can destroy your purchase, not to mention be fatal if not fixed.

• Breaker Boxes: Older homes may still have fuse boxes. These are very outdated and some may even use types of fuses that are hard to find. While updating an old fuse box to a breaker switch box isn’t extremely expensive, it should be done by a qualified electrician. This is something that should be done before you buy. It isn’t worth asking for a price reduction, but it also isn’t something you should have to deal with when you move into your new home.

These are just a couple of negotiable items to think about when you look at a prospective purchase.

If you would like more information on things to consider when viewing a home, I can help. Contact me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

If you’ve ever been to a block party, you know it is a great way to gather your neighborhood friends together for some fun. If you’re an owner of Southeast Michigan real estate, you can easily throw a block party everyone who lives near your home will love. Here’s how:

1. Enlist the help of your neighbors. Throwing a block party at your home is a major undertaking, so you will need all the help you can get. Ask other Southeast Michigan real estate homeowners in your community to help you plan, decorate, prepare food, and clean.

2. Get permission. You don’t want your party broken up by the police or fined by the homeowner’s association. Find out from your municipal government if you are required to get a permit for a block party. Follow up with your homeowner’s association and make sure they will allow the block party.

3. Select a theme. Themed parties are easier to plan and more fun for the guests. For example, if you choose a beach theme, you know what colors and accessories to use in the decorations:  anything blue or tan, coconuts, beach balls, and Frisbees. You also know to serve beach foods like hamburgers and hotdogs.

4. Plan a menu and decorate. Keep the menu and decorations simple to prepare and easy to clean. Choose food that can be eaten without utensils, like finger foods and sandwiches. Don’t use elaborate decorations.

5. Have fun. The most important part of your block party is the party itself. Give yourself permission to enjoy the party and the company of your neighbors. Talk to people. Laugh with your neighbors. Participate in any games you play. This is your night to shine.

6. Clean up. If you planned properly and have enough help, clean up shouldn’t be too overwhelming. Make sure the area where you held the party is completely litter-free and looks better than it did before the party. Don’t give your homeowner’s association any reason to prohibit future block parties.

Getting to know neighbors makes life more enjoyable.  Throwing a block party is a great way to accomplish that while also having fun.

Let me help you find the perfect Southeast Michigan real estate in a great neighborhood. Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

There are a few things you can do to make the process of buying a new home easier and faster.  Getting pre-approved for financing of your Troy Michigan real estate is one of them.  Here are four advantages of loan pre-approval: 

REALTORS® Take You Seriously

When you walk into an agent’s office with pre-approved financing, the agent knows he is not wasting his time showing you homes. If you do not have pre-approved financing be prepared for agents to ask a lot of questions and even possibly request that you get financing in hand. They are not trying to be invasive. They are avoiding “tire kickers” while helping you streamline the process.

Home Sellers Feel More Comfortable Dealing with You

When you have pre-approved financing, sellers are more apt to work with you on price, or other needs, in order to close the deal. They know that there are not going to be contingencies on a loan, or waiting and wondering if you qualify for the loan. They know they don’t have to worry about turning other prospects away and then finding out you haven’t been able to get a loan.

Fast Closings

Getting pre-approved for a loan means no waiting on the biggest of all hurdles before closing.  Other items needed to close on your Troy Michigan real estate purchase usually move quickly, but loan applications can drag out and require setting a closing date far into the future to allow for the time needed.

Less Stress

Above all else, having your financing in hand before you even begin to look for Troy Michigan real estate makes the entire process less stressful for you. Knowing you have the money to back you up when you find the home of your dreams is much better than finding paradise and having to worry about getting financed and possibly losing it.

If you would like to find out more about pre-approved home loans, I can help. Contact me at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

The home inspection is one of the most important considerations that can directly impact your home for sale in Southeast Michigan. 

According to the National Association of REALTORS®, 84 percent of all residential real estate transactions include a provision for home inspection.  The purpose of this inspection is to provide an unbiased, analytical analysis of your home.  In a sense, this is the purchaser’s opportunity to avoid the “buyer beware” syndrome.

Because of the importance of the home inspection, as the seller, it’s an excellent idea to get your home for sale in Southeast Michigan inspected before putting it on the market.  That gives you a chance to fix any problems before potential buyers see your home.

How to Choose a Home Inspector

Not every state requires a home inspector to be licensed.  Therefore, you need to do your homework before choosing a home inspector.

Well informed buyers and sellers usually ask for inspectors who are members of either the American Society of Home Inspectors or the National Association of Home Inspectors.  

Additionally, before hiring a home inspector ask for:

• A description of the services to be provided:  A typical home inspection should include a thorough and itemized written report detailing the home’s structural elements, an exterior evaluation, roofing, plumbing electrical and appliance testing.  Outbuildings and garages can also be included in the inspection.  Items such as insect and rodent infestation and radon inspections can also be performed.
• A list of references:  Be sure to contact these references and ask what they thought of the home inspector and whether or not they’d use the inspector again.

Now What?

Okay.  Now, the inspection is performed and you’ve received the written report.  You have a couple of options to resolve any problems noted in the report:

1. You can fix the problems yourself.
2. You can hire someone to fix the problems.
3. You can reduce the sales price by the estimated cost to fix the problems.

While it’s ultimately your decision, a professional real estate agent can help you determine which option will get your home sold the fastest and for the highest profit.

If you’d like recommendations to the best home inspectors for your home for sale in Southeast Michigan, or want help getting your home sold, give me a call at 248-514-2640 or email me at info@NorthWoodwardHomes.com. 

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

The debate is as old as the real estate industry.  Does a low, highly competitive selling price for Bloomfield Hills real estate actually generate a faster, more profitable sale than a slightly inflated price with a willingness to negotiate?  Yes, it is an age-old debate.  Yes, it has never been more important that sellers make informed decisions about their asking price and negotiating strategy. 

A seller with an unreasonable opinion of their home’s value is either a wishful thinker or does not have the benefit of an accurate comparative market analysis and a real estate agent who specializes in the area.

Get Real, Know the Facts

When sellers decide to list their home in the Bloomfield Hills real estate market, they usually have an opinion of value based on reported sales of similar properties.  Consciously or subconsciously, most homeowners follow the real estate activity of surrounding homes.

However, every real estate transaction stands independently.  In today’s market, buyers and sellers negotiate to capitalize on tax incentives, green-initiative improvements, closing fees, homeowner credits and local incentives.  Thus, the “neighborhood selling price” may not represent the price you can actually get for your home.

Real estate agents use differing strategies to secure listings and set sales prices.  Therefore, a seller who requests proposals from three different Bloomfield Hills real estate agents may well get three different opinions of value:

1. One agent may want the listing at any price and be willing to accept an owner’s requirement for a high asking price just to land the listing.
 
2. Another agent may be conservative and encourage a low asking price in the hopes of generating superior demand.  This strategy was effective in the boom years of 2006 and 2007.

3. A third agent may combine his knowledge about the property, the neighborhood and today’s real estate market to come up with the optimal listing price.

The Optimal Listing Price

Responsible Bloomfield Hills real estate agents view the property from three postures. 

1. First we inspect the property, top to bottom.  We understand its history, the neighborhood, its strengths and its weaknesses. 

2. Next, we do our research.  We compile a complete, relevant list of recent sales, a thorough list of properties on the market and a comparable list of recently concluded Bloomfield Hills real estate transactions.

3. We balance this information against the cost of new construction.  We factor in what improvements might be necessary to stage the home more effectively.  And, we use this quantitative analysis, called a comparative market analysis, to recommend a strong selling price designed to garner demand.

This is not a whimsical exercise.  This is about establishing the maximum selling price your Bloomfield Hills real estate should achieve.

To further discuss how you can realize the greatest real estate value for your home, contact me today at 248-514-2640 or by email at info@NorthWoodwardHomes.com.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

So, you’ve decided you want to sell your house.  You know it qualifies as one of those “ugly houses,” but you don’t want to do any work to your home.  You especially don’t want to do major repairs or updates like replacing all the windows with broken seals.   

You may think that means real estate agents will not want to list your home for sale.  Think again.  Southeast Michigan real estate agents sell ugly houses, too!

Here’s what you should expect if you have an ugly house that you don’t want to make improvements to:

1. A lower price:  Maybe you don’t have the time, energy, money or know how to make improvements to your home.  That doesn’t mean it won’t sell, it just means the price has to be low enough to convince a buyer that it’s worth the time and money they’ll have to spend to get it into shape.  An experienced Southeast Michigan real estate agent can do the necessary research to come up with the right price to get your home sold.
2. A smaller number of potential buyers:  In today’s market, most homebuyers are looking for that perfect home.  The one they can move in to without doing any work.  Since your home doesn’t fit that description, you’ll lose those homebuyers.   Typically, homes like this will sell to Southeast Michigan real estate investors or buyers who enjoy fixing up houses. 
3. A longer time on the market:  Because of the smaller number of potential buyers, it may take a bit longer to sell your home.  Because of the lower price, you’ll probably have several lookers, but getting someone to purchase it will most likely take longer than normal.

Don’t say you’re going to sell your house someday, when you get all the repairs and upgrades completed, if you know in your heart that isn’t reality.  Sometimes it’s worth taking a lower price and moving on. 

Whether your home is gorgeous, ugly or somewhere in between, I can help you get it sold.  Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

When you first decide to look for a new Royal Oak Michigan home for sale, whether you are a first time buyer, or you currently own your own home, it is an exciting experience. Visions of perfection begin to dance in your head. Grand expectations and all of your fondest dreams begin to spring into being. But how do you balance dreams with reality so that you get what you need and maybe some of what you dream of?

Condition Counts

You can get great deals on amazing homes when they need a little repair. However, that is a big trap if you don’t take into consideration how adept you are with a hammer and nails. If home repair isn’t up your alley, that’s not a sin.  But, it is unwise to buy a fixer-upper if you’re not into fixing or not financially prepared to hire professionals to do the fixing.

Wide Open Spaces

Rural living or huge parcels of property can be very appealing. The desire to own a big spread with rolling lawns can make you feel like a real land baron—until you have to maintain it. There are other aspects to looking at property removed from the hustle and bustle of the big city. Lack of convenience that might seem like a good thing will soon become just inconvenient. Consider the trade-offs if your idea of a perfect Royal Oak Michigan home for sale isn’t exactly in the city.

Don’t Settle

While you need to be realistic if your budget isn’t unlimited, you should not settle for less than what you truly need. Take the time to determine exactly which features are most important to your family. Consider:

• Which rooms will be most used
• How many people will be living in the house
• How many bedrooms you need
• How many bathrooms are necessary

Don’t try to squeeze into something that won’t fit those needs. If you have to wait a little while until you can afford a home that is the right size, it will be worth it to avoid the frustration of being dissatisfied with something as important as your home.

If you would like more information on what to consider before buying one of the Royal Oak Michigan homes for sale, I can help. Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

When you begin your search for the perfect house it usually starts with a search for the perfect Southeast Michigan real estate agent. A good agent can help you with every aspect of buying a home.

They know the proper price ranges, what properties are available that match your needs and all of those pesky legal details required for closing. Your Southeast Michigan real estate agent will keep things moving and make sure deadlines are met and everything goes smoothly.

Here are four tips to help you choose a real estate agent: 

Meet Them Face to Face

Perfect harmony should be as instantaneous as love at first sight. You simply know you hit it off with someone, or you don’t. Don’t fight the feelings if you have doubts. Even the best Southeast Michigan real estate agent isn’t going to have a connection with everybody.  There will be one that is perfect for you. Keep looking.

Ask Questions

When you do find a real estate agent you have a connection with, ask questions. There needs to be more than just a friendship between you. Make sure the agent has a real grasp of the area, the types of houses that are available, and seems in tune to what you are looking for.

Assess

Do they listen to your needs?  If they’re not listening to what you want, move on.  Did they answer your questions thoroughly?  If they were unable to answer your questions or purposely avoided answering any of your questions, this is not the right agent for you.

Answer Their Questions

Your Southeast Michigan real estate agent will have plenty of questions for you too. They want to be sure you can afford a new home. Don’t be offended by what may seem like personal questions. They need this information in order to give you the best advice.

I’m not your typical real estate agent because I’m also a licensed real estate lawyer.  If you’re searching for your perfect real estate agent, I’d be honored if you’d interview me for the job.  Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com to schedule a face-to-face meeting.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640

The government’s first-time and repeat-buyer tax credits gave homeowners with homes for sale in Southeast Michigan a lot of hope. The potential for getting their homes sold seemed infinitely higher. The credit expires at the end of this month though, and many homes are still on the market. If yours is one of them, what should you do?

Don’t Panic!
The first inclination for many homeowners with homes for sale in Southeast Michigan is to panic.  Often, it’s during the hard periods of life that something miraculous happens. You find the job of your dreams after searching for two years for any kind of job at all. Your life has been plagued by bad relationships so often that you’ve quit looking and then – out of nowhere – your soul mate walks up. You need to sell your house, money is tight, you might have to walk away… and a buyer appears, ready to close immediately.

Don’t scoff; it happens. In fact, life is so full of “sudden happenings” that the miraculous becomes common. By allowing panic to get in the way, you may be locking the door that opportunity knocks on.

Look At Your Options
Sometimes, we’re so full of worry that we miss obvious possibilities. Now is a perfect time to take a deep breath, clear your mind of worry (as much as possible) and look at what you’ve done to sell your home. Once you’ve outlined what you’ve done, you’re then free to look at what you can still do. Here are a few things you might not have considered:

• Research owner financing – Owner financing opens the door to many potential buyers, but it also provides benefits to you. For instance, if you have a lot of bills that need to be paid, the down payment from the buyer may be enough to take care of the important ones. Additionally, monthly payments from the buyer may be enough to keep you afloat while you’re looking for a job, trying to pay rent or feed your family.

• Create a “honey do” list – If you’ve lived in a home for several years, you’ve probably become used to cracks in the walls, peeling paint or squeaky doors. Invite an honest friend or your real estate agent to look around for you and help you create a “honey do” list. If you’re handy, a lot can be fixed with very low cost. If you’re not, hiring a handyman may be something to consider.

• Reassess your marketing – If your home hasn’t had a single view and has been on the market for quite a while, you may not have the marketing reach you think you do. If pictures of your home are on the Internet, make sure they show the home’s best features.  Talk with your real estate agent about marketing techniques they recommend using.

It’s hard to blow off worry during times of high stress. However, if you can step away for just a minute to clear your head and think, you just might find your miraculous answer for taking your home off the list of homes for sale in Southeast Michigan.

If you’re ready to sell your home, I’m here to help.  Turn the marketing of your home and worrying about it over to me.  Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call:  248-514-2640