Lee Morof's Real Estate Blog

Selling a home is sometimes a long process. You can sit around worrying and wondering when you’ll have a buyer, or you can get busy to help the time fly.  Here are 10 things to do while waiting for your Bloomfield Hills home to sell:

1. Clean. I’m sure you’ve already cleaned every part of your Bloomfield Hills home to prepare it for sale. Make a game of it this time.  Time yourself to see how fast you can clean one room or one drawer.  Or, take out every type of cleaner you have and use it in each room.

2. Plant a container garden. The best part of a container garden is that you can take it with you. Plant some herbs or easy to grow vegetable plants, like tomatoes or cucumbers.

3. Sort through your magazines. Now you have the time to read all those magazine articles you’ve been saving.  Cut out coupons and recipes.  Send articles to your friends to let them know you’re thinking of them.  Throw out the magazines when you’re finished.

4. Clear the pantry and freezer. You don’t want to take all your excess food with you when you move. Clean out the pantry, and donate supplies to your local homeless shelter or food pantry.  Eat something from your freezer every day until it’s all gone.

5. De-clutter and eliminate.  Clean out your makeup stash. Weed through the kids’ toy box. Do any small task that will lighten your moving load.  Ask yourself, do I really want to pack this item, move it and then unpack it?  If the answer is no, pitch it or give it away.

6. Finish crafts. Go ahead and finish the quilt or scrapbook you’ve been working on. This will help clean out your craft closet and will make packing your craft supplies that much easier.

7. Empty your medicine cabinet. Do you really need that bottle of medication from your surgery 12 years ago? Toss anything that’s out of date or that you no longer need to keep.

8. Save your digital photos to a disk. Choose only the photos you want to keep and save them to a CD or flash drive. You never know when your computer is going to crash.

9. Have a yard sale. You need to clean out your closets anyway. You might as well make some money off the items.

10. Throw a barbeque. Take the proceeds of your yard sale and have a barbeque for you and your neighbors. Think of this as a going away party.

Take advantage of the time you have while waiting for your Bloomfield Hills home to sell.

Need help 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

Advice for home sellers is everywhere!  Turn on the TV, radio, or computer and you’re practically bombarded with ideas on how to prepare your Bloomfield Hills real estate to get it sold.

Curb Appeal: It’s Elementary, My Dear Watson

Sometimes the simplest solution is right under your nose.  Sure, renovations, additions, upgrades and updates are great—and should not be overlooked. But common sense says buyers make their first judgment of homes for sale based on the homes’ exterior.

Increasingly Discerning Buyers in Today’s Bloomfield Hills Real Estate Market

Today’s real estate market is challenging for sellers, all the more reason why every little detail matters. Buyers know they are in a strong buyer’s market and literally won’t put up with any rubbish, when window shopping for homes.

Before a potential buyer even considers stepping a foot inside your home, they want to see curb appeal — and not just any curb appeal, mind you. The discerning home buyer of today wants everything “just so.”

Here’s what buyers are looking for:

• Precision lawn care:  That means weekly mowing and edging in the warm months and snow or ice removal in the cold months.  The perfect lawn features mowing done in precise straight lines resulting in a very symmetrical, uniform look.  Don’t forget to trim around the driveway, stones, garden, trees, and especially the sidewalk.
• No junk lying around: Pack rats, you know who you are!  Put things in storage.  Don’t have an RV blocking your driveway or bikes and toys strewn everywhere.
• Beautify: Pick up leaves, weeds, branches and other debris.  Plant beautiful flowers.  You can even buy pre-bloomed flowers and replant.
• Splash o’ Color: Paint the house, garage, doors and shutters in neutral, updated colors.
• Fix and Re-Finish: Wooden decks and porch railings should be in tip-top shape.

Shoot for Showroom Shine

Just imagine that you are trying to win a contest for best looking home in the area. Think model-home quality.

You’ve got a Friend!

To help you get the most out of your precious Bloomfield Hills real estate, I’m here for you.  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

For Bloomfield Hills real estate owners getting ready to put their homes on the market, here are a few stunningly-easy tips to help get your home sold faster and maybe even for more money.

Keep in mind that your prospective Bloomfield Hills real estate buyers will most likely be viewing several homes on the same day as your showing. The emotional elements you include will have a profound impact on their memory, and will make your home standout when they review what they’ve seen with their agents at day’s end.

Preparing your home for the perfect showing is essential and comprises three basic elements that will make your home sparkle.

Atmosphere

• Soft classical music
• Simmering potpourri  
• Bake an apple pie in the oven.  Or, if you have a bread machine, bake bread.
• Well-lit rooms and inviting indirect lighting
• Air conditioning or heating set at a comfortable temperature

Decorations

• Garden-fresh bouquet of flowers near the entrance or on the kitchen table
• Fresh neutral-colored paint and cleaned or new carpet
• Remove family photos or personal items (allows buyer to imagine it is their home)

Cleanliness

• Meticulously spotless kitchen and bath
• Walls washed and spackled as needed
• No clutter whatsoever (uncluttered rooms look larger)
• No pets – kennel them if needed (buyer may be allergic)
• Clean closets (yes, people peek in your closets)

Remember it’s the little things in life that matter, and the same is absolutely true when it comes to a buyer looking for a place to call home-sweet-home.

For more ideas on how to sell your Bloomfield Hills real estate fast and make the most from the sale of 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

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

There’s at least one good thing about the drop in the dollar and it’s boosting the real estate market.  Many high-end Europeans are now looking toward the U.S. for a vacation home or permanent resident, and that could mean big hope for your Bloomfield Hills real estate in Southeast Michigan.  However, this also means a different way of selling. 

Stage a Benefit
No open house for high-end buyers.  Host an event instead – maybe even a benefit dinner for a worthy charity.  Let people come and view the property, but give them an avenue to mix and mingle as well.  In addition, they get to see how the house handles a bunch of guests.

Showcase a Chef
If you have a gourmet kitchen (or two), check with chefs that would like to showcase their cooking abilities.  This creates an entire “house-buying” experience for your guests.  Again, they see what that featured kitchen can handle as well as being able to enjoy the culinary arts of a professional chef. 

Host a Private Tour
If your Bloomfield Hills real estate has beautiful gardens and a large landscape, add a private concert or tour of the gardens.  A wine cellar and large sitting rooms can turn the event into a stylish wine tasting event. 

The biggest trick in attracting high-end buyers is showing off the house’s best features.  If the event is hosted at night, you can show how attractive the home is with an overall “candlelight” appearance.  You might even go so far as to set the time for when the sky is at its best and frames the home just right.

First impressions are everything, so pull out all the stops.  Don’t let any great feature go undiscovered, from indoor swimming pools to music rooms and manly dens.  Let your Bloomfield Hills real estate shine!

If you’re getting ready to put a high-end home on the market, I can help.  Call me 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

If you are having trouble making the payments on your Bloomfield Hills real estate mortgage, you may be worried about foreclosure.  You don’t have to have foreclosure on your credit record for the next ten years.  Your lender may accept a deed-in-lieu and protect your credit rating, or you may be able to get the lender’s approval for a short sale of your property.
 
What Is A Short Sale?
A short sale refers to the lender accepting a discounted payoff amount, or accepting less money than due to satisfy the loan.  Not all lenders will agree to a short sale.  Here are some tips on how to get approved for a short sale.

Call Your Lender
Explain to your lender why you are unable to make the payments and why you should be allowed to have a short sale for your Bloomfield Hills real estate.  You may be asked to submit documentation of your financial difficulties, including bank statements and tax papers.

Send In Documentation
The lender may request that you send in proof of your income and assets. They’ll want to know if you have any money in a savings account or a money market account.  You’ll have to tell them if you have any stocks, bonds or any other real estate that could be liquidated to pay off your debt.

Once you have approval to hold a short sale, you’ll still need to submit more paperwork to the lender.  You can ask your real estate agent to fill out the preliminary net sheet that the lender requires.  This form will show what you expect to sell the house for and what the net profit will be after all loans are paid off.

After you find a buyer you’ll need to mail in a form showing the offer, and a copy of the listing agreement.  The lender still has the option to refuse to approve the sale if the terms don’t meet their requirements.

A short sale may be your ticket to avoiding foreclosure on your Bloomfield Hills real estate.

Ready to work with a professional Bloomfield Hills real estate agent?  One who is also a real estate lawyer and has the ability to guide you through the complicated process of a short sale?  Call me today at 248-514-2640 or email info@NorthWoodwardHomes.com  now for more information!

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

If you’re thinking of selling your Bloomfield Hills real estate in Southeast Michigan, you’re probably thinking about what you need to do to get it sold.  Here is a list of do’s and don’ts to help you along your way to a smoother sale.

Do’s

• DO take pictures of every room of your house.  Look each picture over with a fresh eye; see what needs to be done to the rooms.
• DO clean, clean, clean.  What looks like typical family clutter to you may turn the buyer off.
• DO replace hinges that are broken or worn, tighten doorknobs, etc.  Buyers going through the house will open doors and cabinets, and having a doorknob come off in a potential buyer’s hand is a definite deterrent to buying.
• DO fix cracks and watermarks.  You don’t want to give potential buyers the idea you still have plumbing problems.
• DO take the time to stage your Bloomfield Hills home prior to putting it on the market.  Statistics show this can significantly shorten the time it takes to sell, as well as raise the asking price.  Order the free book for sellers, “Staging Tips to Prepare Your Home for Market.”

Don’ts

• DON’T spend a lot of money on major upgrades unless you have to.  While you may have to replace a water heater that’s trying to quit, you don’t have to replace a carpet that’ll look just fine when it’s cleaned.
• DON’T be stuck on one price.  The real estate market changes constantly.  Having a set price may get your home stuck on the market.  Take a moment and fill out my Maximization of Value Assessment that will help you Sell to the Max.
• DON’T use your tax appraisal as an estimate for your home’s value.  For a better estimate, compare your home to those in the neighborhood that have sold recently.
• DON’T do major packing until the sale is complete.  If you need to reduce clutter or simply have to start packing in order to meet a deadline, get the boxes out of sight by putting them in storage. 
• DON’T follow the potential buyers through the house.  This can cause them to feel they need to move through quickly, which lessens the chance of them buying.  It’s best to be absent while your home is being shown, even if that means sitting in your car down the block until they’re gone.

Putting your Bloomfield Hills real estate on the market to sell can be hard, especially if you’ve lived there for a long time.  I’d like to tell you about my 30-Day Marketing Plan that sells 85% of homes listed with me…and for an average 98% of listed price.  Drop me an email now at info@NorthWoodwardHomes.com or call 248-514-2640 today!

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