Lee Morof's Real Estate Blog

In tighter financial times, finding ways to trim expenses on your North Woodward home in Oakland County, Michigan, can give you a little more cushion for those unexpected expenses (my daughter dented my new car!) or small indulgences that make life a little bit better (gourmet coffee – delicious!).

Here are a few tips on how to keep your electric bill down, and make your North Woodward home a haven of energy conservation and economy.

• Unplug – In this age of charging everything from cell phones to laptops, it’s easy to look around and realize that you have many, many appliance plugged in that don’t need to be.
• Insulate with your window coverings – You want to do all that you can to keep the heat in your home and not leaking out into the wider world. Heavy drapes that are hung close to the window are a great way to make sure of this. Open them during the day to make the most of the natural heat from the sun and then close them at night to keep the heat trapped inside.
• Switch to Compact Fluorescent Lamps – The initial investment in the bulbs is more expensive, but they last longer and save on the electric bill by using 75% less energy. As your old bulbs burn out, make the switch, and see your electric bill drop.
• Keep your freezer full – It takes less energy to keep a full freezer cold than an empty one. You can choose to make this an excuse to keep more ice cream on hand, or just put in some extra containers of water in the freezer for ice blocks. The good news is that if a thunderstorm knocks out your electricity, those big blocks of ice might keep your ice cream safe.
• Upgrade to Energy Star Appliances – These appliances are designed to be more energy efficient, saving you money over the long haul.

The more aware of your energy consumption you are, the more you will remember to turn off that light switch and unplug the toaster when it’s not in use. Little actions add up!

If you’re considering buying or selling one of the North Woodward Homes, I can help. Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney Lee Morof 
RE/MAX Showcase Homes, Birmingham, Michigan
www.NorthWoodwardHomes.com

In September, the days start to get noticeably shorter; with winter looming on the horizon, you may be pondering the uptick in your North Woodward home’s natural gas bill with some dread.  Here are a few tips on how to keep that bill as low as possible, so you can enjoy the coming season in financial comfort.

• Clear and clean – A yearly inspection of your furnace and boiler can keep them running at peak efficiency. Be sure to clean or replace filters on a regular schedule.
• Insulate – One of the best ways to save on energy costs is to keep your home well-insulated. It keeps the warm air inside during the winter and the cool air in during the summer.  Consider putting more insulation in the attic and caulk or replace any drafting doors or windows.
• Use a programmable thermostat – If you keep a regular schedule, you can turn down the heat in your North Woodward home when you’re at work, and have it automatically warm up just as you are returning home. When you go on vacation, be sure to adjust the programmable thermostat settings.
• Stay out of hot water – Keep an eye on your hot water usage. A shorter shower with a lower-flow showerhead can save you money. Wrap an insulation blanket around the hot water heater to lower your bill even more.
• Air dry freshness – Avoid that energy hog gas dryer and air dry your clothes for fresh air goodness.

Small changes can add up to more than pocket change on your North Woodward home’s natural gas bill.  Conserve and save!

If you’re looking for information on buying or selling a home, give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney Lee Morof 
RE/MAX Showcase Homes, Birmingham, Michigan
www.NorthWoodwardHomes.com

For the last few years, the news in the housing market has often been gloomy, but the tide is finally beginning to turn for buyers and sellers of North Woodward homes in Oakland County, Michigan! The Pulsenomics LLC survey of 100 economists points to modest gains in home prices starting in 2013 — and those gains will continue through 2016!

Improving Real Estate Market

While some prices are still slated to drop in 2012, those losses will likely mark the bottom of the trough.  The tumultuous times in the real estate industry are, according to most economists, behind us. Those tough times have left their mark, however. For instance, many former homeowners who have gone through foreclosure will find it difficult to return to homeownership because of the impact on their credit. This could cause overall homeownership rates to fall.

Opportunities for Buyers and Sellers

If you have been waiting for the right moment to sell your home, or buy your first or fifteenth home, the stabilization of the market is good news for you:

• Current owners of North Woodward homes looking to sell can benefit from a larger pool of home buyers.
• Home buyers can look to housing as a good investment again. They may have to contend with a more competitive market and bidding wars on properties though.

If you’d like to know the latest on the market for North Woodward homes in Oakland County, Michigan, I can help. Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney 
RE/MAX Showcase Homes, Birmingham, Michigan
www.NorthWoodwardHomes.com

If you’ve recently gone through a foreclosure, you may already be wondering how soon you’ll be able to buy another North Woodward home in Oakland County Michigan. You enjoy the pride of homeownership, and you want to buy as soon as possible so that you can take advantage of the lower prices.

Here are answers to two commonly asked questions about buying a home after foreclosure:

How soon can we buy a home after a foreclosure?

Fannie Mae and Freddie Mac, the entities that would end up with the property if you default on a mortgage, impose the following waiting periods on conventional home loans, depending on the type of foreclosure you went through:

• Buying after a foreclosure: The waiting period is 5 to 7 years.
• Buying after a foreclosure with extenuating circumstances: The waiting period is 3 to 7 years.
• Buying after a deed-in-lieu of foreclosure: The waiting period is 4 to 7 years.
• Buying after a deed-in-lieu of foreclosure with extenuating circumstances: The waiting period is 2 to 7 years.

Fannie Mae and Freddie Mac frequently issues new guidelines. The above policies were in effect as of August 1, 2008. Waiting periods for FHA loans and VA loans are somewhat shorter than Fannie Mae’s waiting periods.

What can we do during that waiting period to prepare us for success when buying a North Woodward home?

When you go through a full foreclosure, expect your credit score to decline by 140 to 150 points. You’ll also have negative marks about the foreclosure on your credit report for as long as seven years, which makes it more difficult to buy a home. The number one thing you need to do to prepare to buy another home is to fix your finances:

• Reduce or pay off your debt.
• Pay every bill on time every time.
• Eliminate unnecessary monthly expenses.
• Dispute any mistakes on your credit report.
• Save for a future down payment.

If you’re in the market to buy one of the North Woodward homes for sale in Oakland County or would like more information about preparing to buy a home, I can help. Give me a call at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney
RE/MAX Showcase Homes, Birmingham, Michigan
www.NorthWoodwardHomes.com

Take advantage of the warm weather to do maintenance on the outside of your North Woodward home in Oakland County, Michigan, and improve your landscaping. Here are 20 tasks you might want to consider adding to your summer to-do list:

1. Conduct an energy audit: Walk around your North Woodward home with a notepad and make note of any gaps or cracks. It is possible to save 20% by plugging gaps and leaks. Beginning inside the house, remove and check switch-plate covers, check around window air conditioners and your attic door.
2. Insulate hot water pipes: This will save on heating costs next winter.
3. Clean patio furniture: Check for items that need repaired or replaced.
4. Clean concrete of any oil residue
5. Inspect and patch cracks in concrete
6. Reseal your asphalt driveway
7. Prune or remove problem or dead trees
8. Clean exhaust fans
9. Mend broken fencing
10. Check exterior walls for peeling or cracked paint
11. Inspect bricks and masonry for missing or cracked mortar
12. Inspect roofing material for cracked or missing shingles
13. Inspect foundation walls for signs of termites: tunnels or dirt bridges
14. Check your home fire extinguisher: If it is in the caution or dead area, it needs to be replaced.
15. Flush out, drain and refill your water heater
16. Clean out the septic system
17. Take paint cans, solvents, and other toxic materials to your city’s free disposal day
18. Divide and cut back spring bulbs
19. Fertilize rose bushes
20. Clean the bird’s bath

Thinking of buying or selling your North Woodward home in Oakland County? I can help. Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney  
RE/MAX Showcase Homes, Birmingham, Michigan
www.NorthWoodwardHomes.com

Real estate has come a long way over the years, and its communication and marketing strategies have developed and morphed into the institution it is today. It might be helpful to appreciate real estate’s history in order to better sell your North Woodward home in Oakland County Michigan. So, in honor of Memorial Day this month, we’ve compiled an outline of some of real estate’s major moments.

• The National Association of REALTORS® – Founded in 1908, this organization still strives today to uphold the ethical integrity of the real estate industry and profession.
• Condos – In 1960, the first condominiums were built, which opened up an entirely new niche for real estate agents to dive into.
• The Fair Housing Act – Passed in 1968, this Act outlawed discriminating against race, sex, religion or national origin when selling your property.
• Tax Reform Act – This Act was passed in1986 to encourage people to become property owners by giving them a tax deduction on mortgage interest.
• The World Wide Web – We all started to be connected in1990. Now this revolutionary technology provides buyers and sellers with more information at their fingertips than was ever thought possible. Promoting your North Woodward home on the Internet is now a crucial part of every marketing plan.
• The Man Cave – In 2004, Urban Dictionary uses this phrase and suddenly everyone is classifying space within their houses for men to relax and do “manly things.”
• Facebook – While this social media site launched in 2004 was originally intended to connect college students, it quickly expanded across demographics. It is now an effective marketing tool for real estate agents to reach out to their clients and potential buyers and sellers.

If you’re ready to sell your North Woodward home in Oakland County Michigan, I can help.  Please call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney
RE/MAX Showcase Homes, Birmingham, Michigan
www.NorthWoodwardHomes.com

Setting your clocks forward means it’s time for a seasonal safety check!  On Sunday, March 11, Daylight Savings Time will be upon us.

As you circle your North Woodward home in Southeast Michigan, setting clocks ahead, make sure to do this short safety checklist.

• Change the batteries: Batteries in smoke detectors and carbon monoxide detectors need to be replaced. Also check batteries in thermostats, phone accessories and portable electronics. Don’t throw those batteries away! Old but still working batteries can be used in children’s toys, electronic devices and remote controls.
• Buy new alarms: Replace any smoke alarms older than ten years; replace any carbon monoxide alarms older than five years. Sensors in these units degrade and lose their effectiveness over time.
• Replace light bulbs: While you have the stepstools and stepladders out to reach the smoke detectors, check for light bulbs that are out.
• Find the flashlights and replace their batteries: Having the flashlights where you need them is the first step to being able to use them.  Change their batteries to make sure they work when you need them!
• Check first-aid kits: With spring and summer coming, bumps, scrapes and stings will be on the rise.  Check your first-aid kit and replace any missing supplies.  Don’t forget your car’s first aid kit – buy one or replace any missing items.
• Check and discard expired medications: Expired medications can cause medical problems due to change through aging.
• Clean the dryer vent: Check and clean the dryer vent for buildup that can become a fire or carbon-monoxide hazard.
• Reset timers on outdoor lights: Avoid wasting electricity by resetting timers on outdoor lights so they’re not on during daylight hours.
• Replace the water filter in your refrigerator: Isn’t it hard to remember to do this? Why not make it another time-change activity. Follow manufacturer’s instructions for replacing the water filter.

Remember to discard used batteries and expired medications properly.  Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com with questions on your Southeast Michigan, North Woodward home’s safety.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney
RE/MAX Showcase Homes, Birmingham, Michigan
Call:  248-514-2640
www.NorthWoodwardHomes.com

You’ve decided you want to buy a North Woodward home in Oakland County, Michigan, but you’re not sure if you should buy a previously-owned home or a newly built home. Here are five reasons why buying a pre-owned North Woodward home might be right for you:

1. You want big trees – The cost of landscaping a newly built home can be exorbitant, especially if you want big trees immediately. When you buy a resale home, you get the benefit of bigger trees that have taken years (even decades or centuries) to sink deep roots and grow broad, shade-providing canopies.
2. You want an established neighborhood: Who wants to deal with the noise and dust until all the construction is completed? No one! What if all the homes don’t sell? You could end up living in a partially finished neighborhood without all the promised amenities. When you buy a pre-owned home, you know what you’re getting – just ask the neighbors and check the crime stats.
3. You don’t want to have to deal with a home builder. Not only do you have to deal with the builder while the home is being built, you’ll also be dealing with him or her for years afterwards. There are invariably things that need to be fixed, even after you move into your newly constructed home. If you decide to build a new home, hire a real estate agent to represent you before you begin the process of looking at home construction, and thoroughly research the builder before signing anything.
4. You don’t want to pick out everything: Most people think they want the opportunity to pick out all the light fixtures, flooring, countertops, and on and on, but the reality is that it’s very time consuming. It’s also hard work if you don’t enjoy or have a knack for decorating.
5. You want a definite move-in date: When you’re building a new home, there are invariably time delays. They can be caused by bad weather, slow supply delivery, overbooked subcontractors.  Unfortunately, you have no control over any of these.

Whether you’ve decided buying one of the pre-owned or new North Woodward Homes is right for you, I can help. Give me a call today at 248-514-2640 or email me at info@NorthWoodwardhomes.com.

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