Lee Morof's Real Estate Blog

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

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