Lee Morof's Real Estate Blog

Buying a home that has been foreclosed on is a great way to get deals whether you are an investor or want to live in the home you purchase. There are a few things about buying one of the foreclosures for sale in southeast Michigan that differ from an average real estate purchase.  Here are a few tips to help you cash in by buying a foreclosed property:

Hire an Agent who Specializes in Foreclosures

Not all real estate agents have experience in buying foreclosures for sale in southeast Michigan. If you have a professional agent on your side who understands the process, you’re one step ahead of the game.

Inspect Closely

Like all real estate you’re considering buying, it’s important to inspect a potential foreclosure purchase. The former residents most likely didn’t move out under favorable conditions, and it is often reflected inside the home. Before buying the home, carefully consider any repairs you will have to make.

Is It Really a Bargain?

Add the cost of all repairs needed into the price of the foreclosure.  Then, determine if the property is really a bargain.

Also consider the price of the home.  Just because it’s a foreclosure doesn’t automatically mean it’s a bargain.  With the fluctuation in real estate prices, homes that were priced high when they were for sale before foreclosure might still be over priced as a foreclosed property. Make sure you and your real estate agent carefully research the market and determine if this is a true bargain.

Background Check

Your bank will check your background, credit, etc; you need to do the same in regards to your prospective purchase. Homes that have been repossessed may also carry encumbrances on the title from past debts the previous owner incurred.  Don’t let yourself fall into a nasty surprise.  Check to ensure there are no liens or encumbrances on the title before purchasing the property.  As a licensed real estate lawyer, I can easily determine if there is anything that might cost you thousands of dollars if you purchase the wrong property.

If you would like more information on buying foreclosures for sale in southeast Michigan, give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

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

At this time of year, we typically don’t think a lot about safety.  We’re all too busy running around shopping and decorating our Bloomfield Hills homes.

Have a fun, merry and safe holiday this year by implementing these 10 safety tips:

1. Never use lighted candles on a Christmas tree, whether it’s an artificial or live tree.

2. Purchase artificial trees with a Fire Resistant label.  This label doesn’t mean the tree can’t catch fire; it means the tree will resist burning and should extinguish quickly.

3. Check for freshness when purchasing a live tree.  Needles that are hard to pull away from branches and that do not break when bent indicate a fresh tree.  Sticky resin on the tree’s trunk is another sign that a tree is still fresh.  Old trees can be fire hazards in Bloomfield Hills homes.

4. Chop a few inches off the trunk of your tree to expose the fresh wood. This allows for better water absorption and will help to keep your tree from drying out and becoming a fire hazard.  Water your tree regularly.

5. Avoid sharp or easily breakable decorations and small, removable items that children can swallow.  Eliminate decorations that look like food or candy.  Children may try to eat them.

6. Limit the number of standard-size light sets plugged into one extension cord to three.

7. Turn off all Christmas tree lights before you go to bed or leave your home. The lights could short out and start a fire. 

8. Don’t burn wrapping papers in your Bloomfield Hills home’s fireplace. A flash fire may result, as wrappings ignite suddenly and burn intensely.

9. Remove all greens, boughs, papers, and other decorations from around the fireplace before lighting a fire.

10. Check labels on lights you’re planning to use outside to be sure they’re certified for outdoor use. 

I hope you and your family have a very Merry (and safe) Christmas!

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

 Those who have never had homes for sale in Southeast Michigan before often think selling is as simple as hiring an agent and putting a sign in the yard. It’s not, however, as you’ll soon discover.

The Inside of Your Home
The exterior of homes for sale in Southeast Michigan is the first up-close impression buyers get.  So, when buyers make it inside, they’re one step closer to actually buying.  However, if the interior is a mess, it could blow the whole deal.

Here’s a checklist to make your home’s interior buyer ready:

1. Make sure the front door doesn’t stick
2. Test windows to ensure they open and close easily
3. Wash windows inside and out
4. Move pets and pet supplies to a temporary home
5. Fix leaky faucets 
6. Update fixtures on your cabinet hardware and door knobs
7. De-clutter closets and cabinets (yes, people open them!)
8. Replace or repair cabinet doors
9. Clean grout 
10. Wash the walls if not repainting
11. Repair cracks or holes in the wall
12. Paint walls a neutral color
13. Remove personal items, such as knick-knacks and personal mementos
14. Clean the fireplace
15. Have the chimney professionally cleaned
16. Remove clutter from countertops, tables and shelves
17. Steam clean the carpets
18. Scrub all appliances
19. Clean cobwebs and dead bugs from light fixtures and ceiling fans
20. Make sure every light has a working bulb
21. Degrease the stove and oven
22. De-clutter and clean the attic, basement and garage
23. Make sure crawl spaces have crawl space waterproofing  
24. Remove excess furniture
25. Rearrange remaining furniture in good proportion (Or hire a home stager)
26. Clean the drapes
27. Replace broken panels for electrical switches and outlets
28. Wipe down baseboards
29. Clean and wax linoleum floors

While each of the homes for sale in Southeast Michigan is unique, with different selling points and selling problems, this list is a good start for any home.

If you’re ready to sell your home, I can help. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

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

When you have a home for sale in Southeast Michigan or elsewhere in the nation, you have to know the competition is fierce. Many home sellers think they have all their ducks in a row when a potential buyer comes to view the house, only to have a minor, forgotten issue blow the deal.

The Outside of Your Home
Your home’s exterior is the first thing potential buyers see up close. Online, you may have images of the front yard, back yard, kitchen and other rooms, but pictures can’t do justice to your home for sale in Southeast Michigan. 

To prepare you home for that first up-close viewing, here are 17 outside tasks:

1. Power wash your siding and windows
2. Fix broken siding
3. Give the exterior a fresh coat of paint if it needs it
4. Paint the door and trim
5. Mow the lawn
6. Trim bushes
7. Remove oil spots from the driveway
8. Pick up all tools, toys or trash in the yard
9. Remove lawn ornaments
10. Clear weeds from the walkway and driveway
11. Plant seasonal flowers
12. Rake leaves
13. Clean roof and gutters
14. Sweep the porch, walkway and driveway
15. Clean fences
16. Take photos of a garden if it comes up each spring, as well as the yard when it’s fresh and green
17. Add tasteful landscape lighting if possible

Of course, not knowing what your specific home looks like, I can’t give a complete list, but these 17 items should get you off to a good start. Don’t forget that a few fall decorations can be the added touch that gets your home for sale in Southeast Michigan sold to a new owner!

If you’re trying to sell your home and need more pointers, I can help. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

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

Thanksgiving is coming soon to Bloomfield Hills homes near you. It may even be coming to your home, bringing friends, family, good food and happy memories. In the midst of all the activity, take time to think about what you’re thankful for this year.

The last year has been hard for hundreds of thousands of individuals and families. Some who, at the beginning of the year, had a good job, nice house they could afford, 2.5 kids – you know, living the American dream – are now trying to figure out where their next meal is coming from. Some are trying to figure out where to sleep tonight.

Many homeowners – those with Bloomfield Hills homes and homes elsewhere across the nation – seem to think these people must have “done something” to be in their current situation. They believe that as long as they don’t “do something,” they won’t experience similar problems.

This belief is far from the truth. Not all, but most, Americans struggling today paid their bills on time, went to work every day and were just regular, responsible people. Their place of employment closed or their jobs were cut and, with hiring freezes, they couldn’t find new jobs. They could no longer afford their mortgages. The banks foreclosed. This is the true story of all too many people across the U.S.

Did they really do anything? Could they have stopped the companies from letting them go or closing? Could they have forced someone else to hire them?

As Thanksgiving draws near, I urge you to take a look at your own situation. Whether you hate or love your job, be thankful you still have one, when thousands don’t. Look around your warm, safe home and be thankful you can still afford it – even if it’s underwater and/or losing equity. You know where your next meal is coming from – even if you can’t decide whether it’s chicken or burgers tonight.

Be thankful for your Bloomfield Hills homes, your jobs, your families and your good, full life. I know I am. This Thanksgiving, take time to let go of the cares of the world; just enjoy what you have and with whom you have to share it.

Finally, I’d love to hear what you’re especially thankful for this year, so please feel free to add your comments below. I wish you a Happy Thanksgiving for many years to come!

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

If you’re looking for ways to save money this Thanksgiving, I have a few tips for you.  As an added benefit, you’ll also be helping the environment when you implement these ideas.

1. Bring in the outside:  A lot of people in your Bloomfield Hills home, plus the heat from the oven, can make even a November day uncomfortably hot.  Instead of turning on the A/C, open some windows to cool your home down.

2. Buy only a few organic foods:  Organic food is usually more expensive than conventionally grown food.  Instead of buying a lot of organic groceries, purchase only key organic items that are most likely to transmit pesticides to you.  Check out the Dirty Dozen list to discover the produce you should consider purchasing from the organic section for your holiday meal.

3. Compost:  Add your Thanksgiving fruit and vegetable trimmings to your Bloomfield Hills home’s compost bin, or start one if you don’t already have one. Next year’s garden will thank you.

4. Eat locally grown food:  Depending on where you live, there may not be much locally grown produce available in November, but there are other foods you can purchase locally.  Apples and apple butter top my list of things to buy locally this fall.  Purchase turkeys and chickens grown by local farmers.  Buy delicious homemade pies and bread at your local farmer’s market.

5. Plan a potluck:  Instead of doing all the work yourself, make this turkey day a potluck.  It’s easier and cheaper for you, and allows family and friends to feel more a part of the event.  This is a wonderful new tradition you can start, which others may well continue for years (and generations) to come.

6. Save leftovers in glass jars:  Instead of putting leftovers in plastic bags or Styrofoam containers, use glass jars.  Save glass jam jars or spaghetti sauce jars and reuse them to package leftovers.

7. Wash and reuse:  Use cloth napkins and tablecloths that can be washed and used again.  If you don’t already have some, consider making your own cloth napkins out of material you already have in your Bloomfield Hills home.  Not only are they eco-friendly and inexpensive, they’re also elegant and attractive.

Don’t stress about doing everything perfectly.  Putting just a few of these ideas into practice saves money and the environment. 

I wish you and your loved ones a very warm and happy Thanksgiving!

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

When dealing with a purchase contract for your Royal Oak Michigan home for sale, you need to look in the actual print for a few things before you sign on the dotted line. Your real estate agent and/or lawyer will be able to point out glaring deficiencies, inconsistencies or other things not in your best interest. However, the more you know about the purchase contract yourself, the better chances you have of getting a good deal on your Royal Oak Michigan home for sale.

Here are four points to ponder in your purchase contract:

Closing Date
Sometimes a buyer may want to wait a month or two before taking over the title. You want to check the closing date against your own schedule and make sure it’s acceptable. Don’t be inflexible.  In this highly competitive real estate market, be willing to negotiate on the closing date – unless, of course, you don’t have a choice.

Remaining Property
Contracts range in terms of what fixtures and personal property will remain with the home. In a few cases, the contract entitles the buyer to everything on the property. In other cases, the contract entitles them to nothing more than attached (ceiling) light fixtures and electrical socket covers. Carefully read over what the buyer expects to remain with the home and make sure you agree.

Contingencies
The factors a buyer may want in place before the contract is finalized may be more than you’re willing to deal with. For example, the buyer may want an inspection before signing, or they may want to sell their own home. They may want the contract reviewed by their lawyer or they may still be waiting for their mortgage to be approved. 

The problem with contingencies is they can drag on much longer than you expect them to. To be safe – even if you’re okay with the contingencies – set a time limit for them to be accomplished. This way, your sale won’t drag on forever without ever closing.

Expiration Date
Finally, pay attention to the expiration date of the contract. You may have eight hours or eight days to accept, reject or counter the contract. Pay attention to how long you have to consider the offer for your Royal Oak Michigan home for sale.

If you’re trying to sell your home and need a knowledge agent on your side, I can help. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

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

Don’t you just love it when the evening news finally shares some good news?  I do too!  So, I want to do my part and share some good news with you today:  Bloomfield Hills homes and homes nationwide are becoming more affordable.   In fact, according to the National Association of REALTORS®, housing affordability is close to reaching an all-time high. 

Big Benefit to Buyers

Exactly how does this benefit the buyers of Bloomfield Hills homes?  A typical buyer can pay much less in mortgage costs for the same home, or buy a better home without increasing their monthly payment.

Reasons for Improvement

There are several reasons housing affordability is improving:

1. Lower mortgage rates.  The primary reason Bloomfield Hills homes are now more affordable is that we have the lowest mortgage rates in history. 

2. Declining house prices.  As with all things real estate, local markets dictate housing prices, but, overall, prices of homes have dropped across the nation.  Some markets encountered only minimal price declines while others experienced major declines.

3. Higher wages.  You probably don’t feel like there’s been an increase in wages, but there has been a small one.  In 2009, the average wage rate rose 3 percent and is up an additional 1.2 percent so far this year.

The Bottom Line

If you’d like to buy a home, have good credit and a steady job, the real estate market has never looked more favorable.

Ready to buy a home?  Let me help you find the home of your dreams and get it at a great price.  Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

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

I’ve said before and I’ll say it again, the fall is a great time to sell Royal Oak Michigan homes for sale. Nostalgia runs rampant in potential buyers. That “nesting” feeling pushes them to look harder for the perfect home. After all, who wouldn’t want Thanksgiving or Christmas to be the day their friends and family see the gorgeous new home?

With this in mind, many sellers hold open houses in the fall. It gives potential buyers the opportunity to walk through Royal Oak Michigan homes for sale looking for that dream home they can call their own. Agents, homeowners or both smile, nod, and graciously offer drinks and snacks. It’s a beautiful thing.

It’s amazing what a little extra touch can do to spice up an open house. A cider wassail bowl may be just the extra touch that could help sell your home this fall.

This wassail bowl is a hot and spicy cider punch. Traditionally, it’s made with ale or wine, but you never want to overdo it with the alcohol at an open house. You can make it hours before, and put it in a slow cooker on very low to keep it warm. This recipe makes 12 servings.

Ingredients
3 tablespoons light corn syrup
3 tablespoons sugar
¼ teaspoon cinnamon
5 small red cooking apples  
2 quarts apple cider
1 lemon, thinly sliced
1 stick cinnamon
4 whole cloves

Directions
Heat corn syrup in a small pan; combine sugar and ¼ tsp. cinnamon in a shallow dish. Roll each apple in hot syrup, then in the sugar. Arrange on a baking pan and bake at 400 degrees for about 15 minutes (apples shouldn’t lose their shape).

In a large pan, slowly heat the apple cider, lemon, stick of cinnamon and cloves over a very low heat. Don’t let it boil; boiled apple cider gets a bitter taste. Before serving, strain out the spices and add the roasted apples. Serve piping hot.

This is my favorite cider recipe to use, but this wassail bowl recipe is equally tasty.

When you have multiple Royal Oak Michigan homes for sale, like I do, you quickly learn the things that work and the things that don’t. Whether you serve apple cider, cider wassail or just a plain fruit punch, the little things can make all the difference.

If you’d like to get your home sold over the holiday season, I can help. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

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

Ask anyone about their experiences with Troy Michigan real estate agents, and you will no doubt hear a variety of responses. This is why there are so many myths about agents circulating. A good real estate agent is worth every penny you spend for their expertise. Let’s examine some popular myths about Troy Michigan real estate agents.

1. They make too much money. The truth is that the median salary for real estate agents  in 2009 was approximately $54,000. Agents have to pay business expenses such as broker’s fees, professional organization memberships and MLS listing fees.  One of their biggest expenses is marketing homes for sale for buyers and sellers like you. These expenses quickly add up and take away a large percentage of their commission.

2. They won’t get you a good deal because they make a commission on the sale price. Yes, real estate commissions are based on a percentage of the sale price. However, the commission on a $185,000 home is $5,550, while the commission on a $200,000 home is $6,000. That’s a difference of $450, which is hardly worth creating a negative impression by getting you a bad deal.

3. They say anything to make a sale. Professional Troy Michigan real estate agents work for you, and they want you to have a positive experience with them. After all, most of their business comes from referrals. They want you to be happy so you will tell your friends and family about their excellent service.

4. They don’t do anything you can’t do on your own. The truth is that buying and selling real estate can be a complicated and time consuming process. Sure, you can order home inspections and surveys on your own. You can even negotiate for your terms. However, professional Troy Michigan real estate agents are trained to do this and have experience at it. As a result, they’ll save you money, time and make your life less complicated throughout process.

Don’t underestimate the value of a professional real estate agent.

Let me help you save time and money when buying or selling your home. Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

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