Lee Morof's Real Estate Blog

As we look to London for the 2012 Olympics, you may be thinking about qualifying for your own special event: buying a new Royal Oak Michigan home for sale! Whether you want a pristine condo (a brilliant flat in English parlance) or a fixer-upper labor of love, clearing all the hurdles to win at homeownership may not be as competitive as the Olympics, but it does require training.

Step One: Select Your Event
The ancient Greeks, originators of the Olympics, coined the aphorism, “Know Thyself,” and that is important advice for athletes and home shoppers alike. If you spend all your time looking for a five-bedroom single-family home, but you really want a condo that you can shut up and forget about when you travel six months of the year, you’re training for a marathon when you’re a sprinter. Know the type of home that fits your lifestyle and your budget.

Step Two: Find a Good Coach
Earning a gold medal or buying a new Royal Oak Michigan home for sale doesn’t happen overnight, and it can’t happen without good advice. Find a professional real estate agent you trust to guide you toward the most successful outcome.

Step Three: Find Your Cheering Section
You’ll find no shortage of naysayers who will tell you that real estate is the road to ruin. And it’s just not true. Do the research and do your best to make owning a home a dream come true. More than one Olympic athlete heard people chide them for pursuing what they knew they wanted.

Step Four: Get to Work
You can’t buy a Royal Oak Michigan home for sale if you don’t look for one. You won’t win at the Olympics if you don’t get off the couch. Even if you just spend an hour a day reading ads, researching mortgage options and reviewing neighborhoods, in a short period of time, you will be much more knowledgeable about the real estate market.

If you’re looking for a real estate agent who can help you successfully jump the hurdles to homeownership, 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

Just because you can buy a Royal Oak Michigan home for sale does not always mean that you should.  It’s important for you to consider if it is better for you to own or rent a home.

Here are five reasons you might want to rent:

1. You may be moving within five years. It usually takes five years to break even on your home purchase or investment.
2. You don’t want the responsibilities associated with being a homeowner.  It can be expensive and time consuming to maintain a home.
3. You have a bad credit report.  If your score is below 620, you will not get a good interest rate.
4. You have a high debt ratio.  A high debt ratio means you may not qualify for a loan to purchase a Royal Oak Michigan home for sale.
5. You have job instability.  If your job is not secure, it’s not a good idea to buy.

Here are four reasons you might want to buy:

1. You want to build equity.  The longer you own your home the more equity it will build. When you pay rent, that money goes down the drain.
2. You get a tax break when you deduct mortgage interest.
3. You want the emotional satisfaction of owning your own home in Royal Oak.
4. It’s an investment. With low interest rates and home prices, buying investment property is a wise decision.

If you are ready to buy one of the Royal Oak Michigan homes for sale or purchase investment property, 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
www.NorthWoodwardHomes.com

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

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

If you’re looking to purchase a new home, then you have a list of priorities. When looking at Royal Oak Michigan homes for sale, families with young children consider proximity to schools and quality of school districts as two of the top concerns on their home buying checklist.

With “back to school” on the brain, your top priority when looking at Royal Oak Michigan homes for sale might be how close a home is to schools. Before you purchase property near a school, take the following considerations into account.

• Top-notch education – If the local school is the best in the surrounding area, then your property value could increase. Houses in your neighborhood will be in high demand because families will want to ensure their children are included in that district.
• Around the block – Living near a school could be beneficial if you have younger children you can walk with. Additionally, your proximity will allow you to react quickly if school closes early or your child gets sick.
• Noise alert – With cars whizzing by and children walking past, you might have to deal with daily commotion and traffic. Depending on how close you live to the school, you could also be subject to noise from recess, after-school practice and Friday night football games.
• School view – Living directly across from a school could actually decrease the value of your home and increase the litter. A view of a high school isn’t as good as a view of a quaint, tree-lined street; and the constant foot and car traffic could mean more mess in your yard.
• Neighborhood watch – Do your research. Some neighborhoods surrounding schools may have better relationships with the school. If your neighborhood association meets monthly with a school, you’ll be able to voice any concerns you might have.

While there are many pros and cons to living near schools, you need to decide what is best for your family.

Whether you’re interested in Royal Oak Michigan homes for sale near or far away from schools, I can help you find a home that fits your priorities.  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