Lee Morof's Real Estate Blog

If you want to get great bargains on Royal Oak Michigan homes for sale, buy this winter. Who cares that it’s cold and wet outside if you can save thousands of dollars on a home?

There are an abundance of beautiful, well-maintained Royal Oak Michigan homes for sale right now. But there are very few buyers looking at them because it’s cold and dreary. They’d rather wait until spring. That means great prices for you right now!

Here are a few tips to help you catch a winter bargain:

• Ask to see summer photos: Want to know what the yard is like in the summer? Look at photos from last summer.
• Try light therapy: This makes everything look better. It’ll boost your mood and help you make a rational (not emotional) decision on which home is right for you.
• Use your imagination: If there’s something you don’t like about the house, imagine what it will look and feel like in warmer weather. The natural light will be brighter, the air will be fresher and the grass will be greener.
• Offer less: If the homeowners want to get the home sold this winter, they’re going to be more open to considering your offer, even if it’s several thousand dollars less than the asking price. If they’re unwilling to go as low as you’d like on the price, ask for other concessions. You might get the seller to pay for part of your closing costs, buy a home warranty plan or to leave the pool table that fits so perfectly in the family room.

If you’re willing to brave the cold and ignore the winter blues, you could save a bundle when buying one of the Royal Oak Michigan homes for sale. Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com and tell me what you want in a home. I’ll put together a list of great buys for you.

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

While we all know that the economy has taken a hit on the real estate market, that doesn’t mean that purchasing a Royal Oak Michigan home for sale and putting down roots has turned into an out-of reach dream. In fact, you can grasp it quite easily, and there are many benefits to doing so.

Start 2012 off right by setting new life and financial goals for yourself. If you’ve been renting and are planning to remain in Royal Oak, then it’s definitely time for you to consider buying a house. Here are some benefits you should take into account:

• You’ll build equity. If you take out a loan, you’ll be using someone else’s money to turn your property into a piggy bank and eventually make money as your home appreciates. Plus, when you put your Royal Oak Michigan home up for sale down the road, you don’t have to share the proceeds — what’s not to like about making money with your bank’s money!
• You’ll receive tax breaks. The government supports purchasing houses by giving you significant tax breaks on your federal taxes. And when it comes time to sell, you don’t have to pay capital gains taxes either, until you hit a certain ceiling.
• You’ll be able to count on consistent payments year to year. If you can get a fixed-rate mortgage, you won’t need to worry about an annual increase in your payments. When you’re renting, you never know what your payments could be from lease to lease, which makes it hard to determine if your current residence will always be within your budget.

While the appreciation on a house you purchase might not shoot up as fast as it did a decade ago, buying a home is still a wise long-term investment. Paying rent is no investment at all.

If you’re on the fence about the benefits of purchasing one of the Royal Oak Michigan homes for sale in the New Year or would like to see what’s available, please call 248-514-2640 today 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
Call:  248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com

With a new year beginning, it’s time for you to get rid of last year’s baggage and concentrate on making 2012 the best it can be. So if you had one of the Royal Oak Michigan homes for sale in 2011 and it’s still on the market, then you only need to have one New Year’s resolution: do whatever it takes to sell that house!

This economy has made it challenging to get acceptable offers from prospective buyers. While this is extremely discouraging, the lack of offers might mean it’s time to bite the bullet and lower the price on your Royal Oak Michigan home for sale. Then you might be able to sell quickly and start a new lease on life.

Below are reasons you should lower your price now to sell fast and start anew:

• It costs time and money to keep a house on the market. Maintaining a house and waiting for the right offer is a full-time job. There is constant cleaning, upkeep and improvements that can cost you time and money — which you could be investing into your new house.

• Your home may be overpriced. If you aren’t receiving any offers, have your real estate agent pull information on comparable properties in your neighborhood that have recently sold. This will give you get a better idea of where you should be priced.

• Your real estate agent recommends it. He or she knows your market and can tell if your property has been for sale longer than expected. If a property sits on the market too long, potential buyers might suspect that something is wrong. If your house has more days on market than your agent expected it to have, then it’s probably time to reduce the price.

Consider dropping your price so you can accomplish your New Year’s resolution early in 2012. Reducing your price might also draw attention to your property, increase activity and bring more people through the doors.

If your Royal Oak Michigan home for sale isn’t currently listed with an agent, and you’re ready to get it sold, please call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com. I’ll implement my proven 30-Day Marketing Plan to get your home sold as quickly as possible.

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

Should you try to sell your home on your own as a Royal Oak Michigan home for sale by owner (FSBO)? The 2011 National Association of REALTORS® Profile of Home Buyers and Sellers has new information about FSBOs which can help you decide if you should try to sell your home without the help of a real estate professional.

Here are the top 4 facts you need to know if you’re considering selling your Royal Oak Michigan home for sale by owner:

1. It’s harder to sell your Royal Oak Michigan home for sale by owner in today’s market. FSBO transactions accounted for 10 percent of sales. That’s slightly above the record low of 9 percent in the 2010 study, but well below the record high of 20 percent set in 1987. The share of homes sold without professional representation has trended lower since 1997.
2. If you know someone who wants to buy your home, you’ll be more likely to be able to sell it on your own. Many FSBO properties are not sold on the open market. Factoring out private sales between parties who knew each other in advance, the actual number of homes sold on the open market without professional assistance was 6 percent.
3. If you’re good at attracting buyers, pricing your home and filling out paperwork, selling your Royal Oak Michigan home for sale by owner may be the way to go. The most difficult tasks reported by unrepresented sellers are attracting potential buyers, getting the right price, and understanding and completing paperwork.
4. Hiring an agent still gives you the best chance of selling your home. 89 percent of buyers used real estate agents and brokers. 7 percent bought directly from a builder, and 4 percent purchased a FSBO.

Ready to hire a real estate professional to get your home sold? Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com to discover how I can help you.

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

A cozy fire, the smell of pine trees and a plate of warm cookies might be all it takes for buyers to envision themselves celebrating many holidays in your Royal Oak Michigan home for sale. So take the time this season to channel Mrs. Claus and cheerfully enhance your house for the holidays with these festive tips:

• Deck the Halls – While you want to remind some buyers of their yearly traditions, you don’t want to offend others. If you usually go overboard with decorations, tone it down a little this year and go for a winter nature theme — think pinecones, snowflakes and the smell of cinnamon.
• Spruce Up the Winter Curb Appeal – In the dead of winter, yards can look barren and bleak. Don’t add to the seasonal depression. Ensure you shovel snow, rake fallen leaves and clear dead flowers from their pots. Also, with dark settling so early, turn on both indoor and outdoor lights to give your Royal Oak Michigan home for sale a cozy glow.
• Host a Holiday Open House – With your house in the season’s spirit, it’s the perfect time to have interested buyers walking through. Offer fresh baked cookies and apple cider to seal the deal.
• Be Flexible – Put in the extra effort to keep your house clean so that buyers can drop in anytime. Property purchasers looking at this busy time of year will be seriously interested — and you might be one of the only houses open to them.

By adding a little holiday cheer to your Royal Oak Michigan home for sale, you could remind potential buyers of happy memories and put them in the giving — or hopefully, buying — spirit.

If you would like more tips to get your home sold during the holiday season, please phone me 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

In this economy, cash buyers have the advantage and are swooping in on great housing deals to beat out buyers obtaining loans through banks. Sellers are jumping on these offers because the cash is already secured, they don’t have to worry about finances falling through at the last minute, and it can guarantee quick closing dates on their Royal Oak Michigan homes for sale.

While dealing in ready money definitely gives real estate investors an advantage, don’t get discouraged. There are a few guidelines financed buyers can follow to give them a better hand when it comes to beating out competitors that throw down the cash card.

• Get pre-approved. Talk with a reputable bank and get a pre-approved home loan for a certain amount before you start shopping for Royal Oak Michigan homes for sale. This will give you an idea of the maximum you can spend and ensure you have the funds to back up your bid.
• Save for a large down payment. The more money you can put down up front, the more likely it is that you will sway the seller to accept your bid. This is especially true if the seller is a bank, because it wants to erase bad debt quickly.
• Build a relationship. Cash investors usually have a good rapport with listing agents, and so should you. Figure out who the seller’s agent is and introduce yourself, or have your real estate agent send greetings on your behalf. You should also be sure you’ve hired an agent who knows how to build beneficial relationships with buyers, sellers, other agents, and everyone involved in the home selling process. The more the seller’s agent gets to know and trust you and your agent, the better chance you will have.
• Seek out the seller’s needs. Ask your real estate agent to try and find out if the seller has any special requirements, such as needing a shorter or longer closing period. If you offer to be thoughtful and flexible, you have more of a chance of beating out the cash buyer.

Don’t let cash investors deter you from getting good deals on Royal Oak Michigan homes for sale. Prepare, save, build a relationship and be flexible, and you might have a new house before you know it.

Want to work with an agent who knows how to build beneficial relationships?  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

Halloween is a fun and exciting time, especially for children. To ensure youngsters and your Royal Oak Michigan home for sale make it safely through the festivities this year, follow these Halloween safety tips:

1. Eliminate trip hazards. Remove bikes, toys and garden hoses from your Royal Oak Michigan home for sale front yard and porch. Sweep and rake leaves.
2. Replace burned out lights. Trick-or-treaters have a hard enough time seeing through their masks; don’t increase the danger by keeping them in the dark.
3. Restrain pets. You don’t want your pet to jump on a trick-or-treater, or even worse, bite someone.
4. Use a flashlight or glow stick to illuminate your carved pumpkin. Lit candles are dangerous, especially around small children or crowds of people.
5. Practice candle safety in your Royal Oak Michigan home for sale. Keep indoor jack-o-lanterns with lit candles, and any decorations with open flames, away from curtains and other furnishings that can easily ignite.
6. Apply makeup as a mask. A loose-fitting mask might restrict breathing or make it difficult to see. Instead, draw on a mask using makeup. If a mask is used, make sure it fits securely and has large eyeholes so the child can see.
7. Choose flame-resistant costumes. Many Royal Oak Michigan homes use lit candles as part of their exterior Halloween decorations. A child’s costume could accidentally brush against the flame. Purchase costumes with flame-resistant labels. If a costume is homemade, spray it with a non-toxic fire retardant.
8. Add a few strips of reflective tape to costumes and treat bags. This helps drivers see the children. It’s also helps to have trick-or-treaters carry flashlights – both to see and be seen.
9. Limit where children go. They should only knock on the doors of homes with a porch light on. Instruct them to never enter a home or a car for a treat. Teach them to stick to well-lit streets, stay on sidewalks and never cut across yards, use alleys or dash between parked cars.

Wishing you and your loved ones a fun and safe Halloween!

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

You might be scratching your head right now wondering why in the world you would want to hire a real estate agent when you’re buying a Royal Oak Michigan home for sale by owner (FSBO). You may even have the misconception that real estate agents can’t work for you if you want to buy a FSBO.  That’s not true.

Real estate agents can represent your best interests when purchasing FSBOs, just like they do when purchasing homes listed with a real estate agency. You get the same service from your agent whether he or she is helping you buy a traditional Royal Oak Michigan home for sale or a FSBO.

Here are three benefits to working with a real estate agent when buying a FSBO:

1. It could save you thousands of dollars.

Most people consider buying a FSBO because they fall in love with the house, not because it’s a great price. In fact, the majority of FSBOs are priced at or above the actual market value of the home. Why is this? Home owners are novices at pricing homes, their information is typically out of date, they don’t have access to the sales prices of all homes in the area, and they don’t have the technology needed to accurately process the data.

When you hire an agent, you gain a considerable advantage over the seller when negotiating the price. Agents are experienced negotiators, and they have the sales statistics to support their requests.

Some proponents of selling your Royal Oak Michigan home for sale by owner argue that you’ll pay more because you have to pay the agent’s commission. In this buyer’s market, all homes including FSBOs take longer to sell. If a homeowner is serious about selling, and the home has been on the market for a while, the seller more often than not agrees to pay all of part of the real estate agent’s commission.

2. It’ll save your sanity.

Sellers have an emotional and personal attachment to their homes. They frequently take it personally when buyers want to negotiate. Without an agent, it’s you and the seller pitted against each other. Emotions often flare, which could prevent you from getting the best deal possible or could cause you to lose the opportunity to buy the house altogether.

3. All legal issues and paperwork will be handled by the agent.

The process of buying a house is complex. Your agent will guide you through the entire process including the negotiation, inspection, re-negotiation (based on findings during the inspection) and closing.  He or she also will make sure all legal issues are considered and handled appropriately, and all paperwork required to buy the home is properly completed.

If you’re interested in buying a home, whether or not it’s a FSBO, I’d like to help you.  Call me 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

Real estate has a language of its own, and I don’t just mean phrases like closing costs, short sales and foreclosures.  What I’m talking about are buzz words used to advertise Royal Oak Michigan homes for sale.

When you understand the typical meaning of these code words, you’ll be better able to determine which Royal Oak Michigan homes for sale are worth looking at in person.

• Cozy: Look at this home if you don’t mind a much smaller than average home.
• Rustic: If you want a home in the country (or one that looks like it should be in the country), take a look at this one.
• Move in Ready: Usually means it’s vacant.
• Starter: It’s smaller and less expensive than average homes in the area.  If you’re in the market for a starter home, this is the phrasing you want to look for.
• Needs TLC: It probably needs more than just a little work.  If you don’t mind that, check it out for yourself to see how much work it really needs.
• Handyman’s Special: Needs more work than TLC, which probably means you’ll need to hire professional contractors to get at least some of the work done.  If you like the home, have a home inspection to find all the problems and then negotiate for a good price.
• Investor Special: Best use of this property is to rent it out.
• Investment in Land: If there’s a house on the land, this means you’re probably wisest to tear down the home and rebuild.
• I’m Beautiful Inside: The interior is nice, but something about the exterior is unappealing.  It could be something easy to fix like old siding and cracked concrete or something impossible to remedy like being on a busy street.
• Honey, Stop the Car: This is a must-see home, if it fits your budget and needs.

If you’re looking at Royal Oak Michigan homes for sale, let me help you crack the code.  I’ll help you find a home you’ll love and use my negotiation skills to get it at a great price.

To get started with your home search, 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
Call:  248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com

Buying Royal Oak Michigan homes for sale when you live in another state or country can be challenging.  Here are a few simple ideas to help make things a little less hectic.

• Investigate online.  Most people know to search for Royal Oak Michigan homes for sale Michigan online, but what about searching for a neighborhood?  Although you can’t search each and every individual neighborhood, you can research almost any city online.  This gives you a pretty good idea of what the area has to offer in the way of schools, shopping and safety.
• Hire a buyer’s agent.  While you’re searching online, your buyer’s agent can search the Multiple Listing Service (MLS) for you.  She or he can email newly listed properties to you daily.
• Use your buyer’s agent as your eyes, ears and nose.  When you find a home that meets your needs, ask your buyer’s agent to visit it in person.  Have him or her take photos of the interior and exterior of the property and email them to you.  S/he can even take a video and post it on YouTube for you to see.  Ask your buyer’s agent to tell you what the home smells like and how loud (or quiet) the neighborhood is.
• Share as much information with your agent as you can.  The more you research the area, the more information you are going to have to give to your agent.  Talk with your agent and let her or him know what you have found and any areas that you may have decided against.  This will save you and your agent time.
• Visit to get a personal impression.  If at all possible, after you’ve narrowed the properties down to the top two or three, personally visit them.  While you can buy a house sight unseen, it’s best to make at least one trip to get a feel for which home most appeals to you.

For more information on long distance home buying or other tips to make your search for Royal Oak Michigan homes for sale easier, give me a call at 248-514-2640 or send an email to 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