Lee Morof's Real Estate Blog

Ask anyone about their experiences with Troy Michigan real estate agents, and you will no doubt hear a variety of responses. This is why there are so many myths about agents circulating. A good real estate agent is worth every penny you spend for their expertise. Let’s examine some popular myths about Troy Michigan real estate agents.

1. They make too much money. The truth is that the median salary for real estate agents  in 2009 was approximately $54,000. Agents have to pay business expenses such as broker’s fees, professional organization memberships and MLS listing fees.  One of their biggest expenses is marketing homes for sale for buyers and sellers like you. These expenses quickly add up and take away a large percentage of their commission.

2. They won’t get you a good deal because they make a commission on the sale price. Yes, real estate commissions are based on a percentage of the sale price. However, the commission on a $185,000 home is $5,550, while the commission on a $200,000 home is $6,000. That’s a difference of $450, which is hardly worth creating a negative impression by getting you a bad deal.

3. They say anything to make a sale. Professional Troy Michigan real estate agents work for you, and they want you to have a positive experience with them. After all, most of their business comes from referrals. They want you to be happy so you will tell your friends and family about their excellent service.

4. They don’t do anything you can’t do on your own. The truth is that buying and selling real estate can be a complicated and time consuming process. Sure, you can order home inspections and surveys on your own. You can even negotiate for your terms. However, professional Troy Michigan real estate agents are trained to do this and have experience at it. As a result, they’ll save you money, time and make your life less complicated throughout process.

Don’t underestimate the value of a professional real estate agent.

Let me help you save time and money when buying or 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

Recently, I came across a show on the Bravo network. Three high dollar real estate agents push million dollar deals in the City of Angels, Los Angeles, California. I can’t say that it reminds me of when I was a new Troy Michigan real estate agent.

Called Million Dollar Listing, the show is a “docu-series” with three young stars:

• Josh Flagg graduated high school in 2004, stepped into high-end residential real estate, made several record sales and became one of Los Angeles’ best agents.
• Madison Hildebrand graduated from Pepperdine University, sold his first home to a celebrity and now sells homes as high as $20 million.
• Chad Rogers got his real estate license at 18, rose through the ranks and is currently working for a prestigious real estate brokerage.

What does all of this have to do with being a Troy Michigan real estate agent? Nothing – and everything. Watching the show, I can’t help but think, “If these young bloods can sell a $20 million dollar house in Beverly Hills, in this economy, we can certainly sell $143,308 homes here.”

Okay, so they’re selling to a lot of celebrities. And, yes, people in Beverly Hills and the surrounding counties are famous for their big wallets. I also have to admit that it might be easier to sell a house with fifty natural selling points (huge pool with pool man, beautiful grounds cared for by landscapers, two-ton chandeliers, stables) than it is to sell an average house that has five selling points.

Having said all that, however, when times get tough remember that we have a beautiful city. We have beautiful homes for sale, nice neighborhoods and great communities. We have a lot of selling points to show off, at more affordable prices.

If you’re looking for a beautiful home, even if you’re not a celebrity, I can help. Call me now at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

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

Every industry has a few myths. Look at science – according to myth, if you’re a scientist, you’re also a lone wolf and a geek. Now, I’ve known one or two scientists, and they were anything but. Troy Michigan real estate agents carry around a few myths of their own, passed around from homeowner to homeowner since the dawn of time.

Myth #1: Every agent drives a brand new, high-end car. Now, I don’t know about other Troy Michigan real estate agents, but I tooled around town for several years in an older-model car. Not very hip, but it got me where I needed to go. While it’s true I now have a newer car, it’s definitely not brand new, and certainly not high-end.

Myth #2: Lenders and inspectors give agents kickbacks. Not unless those lenders, inspectors and agents want to go to jail. You see, in 1974, the Real Estate Settlement Procedures Act was passed. The RESPA says receiving or giving kickbacks is illegal. I don’t know about anybody else, but I’d rather keep my real estate license.

Myth #3: Agents make a lot of money. Those that pass this little myth around have never asked an agent. Remember the car from Myth #1? Once all of our fees are paid, such as MLS fees, overhead, insurance and other marketing expenses, most agents average a salary of around $36,000. For those that don’t know, middle class is somewhere around $75,000 and above.

Myth #4: Agents will say anything to get a sale. Some agents might lie to you, but most won’t. Personal reputation is especially important in the real estate business. An agent with a reputation for lying soon ends up out of work or without a license.   Most agents, like me, are in this business because they love to work with people.

Myth #5: The higher the sale price, the more agents make. Many think that agents would be ecstatic if they sold a house for $10,000 more than expected because of their real estate agents’ commission. If they are, they’re ecstatic for the client, not themselves. While the seller makes around $10,000, the agent makes about $150. With today’s prices, $150 doesn’t go very far and certainly isn’t worth comprising their integrity.

The next time you think about Troy Michigan real estate agents and everything you know about them, consider where you got the information. Is it something that “everybody knows” or something you know from experience?

If you’re looking for a professional agent who puts your needs first, you’ve found him.  I’m not your typical agent.  Besides being a REALTOR®, I’m also a licensed real estate attorney.  I can help you with any real estate issue you might encounter and keep you from making a mistake that could cost you thousands.  To learn more about Lee Morof, your Michigan Real Estate Expert, my www.NorthWoodwardHomes.com or call me at 248-514-2640 now.

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

Even with all the homes up for sale, some people just have to have new construction.  It’s clean, it’s new and nobody else has lived in it.  Understandable, but a word to the wise.  If you go for a newly constructed home, bring your Troy Michigan real estate agent.

Why?  Isn’t there a site agent on hand to help you?  Well, yes… and no.  Here are a few good reasons why a personal agent, or buyer’s agent, is a good idea:

Conflict of Interests

While the builder has an agent on site, that agent is not working in your best interests.  Consider, if the site agent got a better deal for you (which takes money out of the builder’s hands), would they still have a job?  No.  However, your own agent is there to make sure you get a good deal.  End of story.

Being Informed

A builder’s agent doesn’t have to tell you about the negatives of a deal.  They’ll push the positives and even sometimes use high-pressure tactics to get you to sign the contract.  Having your own real estate agent is having a professional you know is on your side.  It’s knowing the drawbacks of the transaction as well as the positives.  Learn more about Lee Morof, an experienced and knowledgeable Troy Michigan real estate agent. 

Contacts

Agents get around; they go everywhere.  As a result, they tend to gather a lot of professional contacts and information.  If you’re choosing a builder with a bad reputation, your agent might have heard about it.  Your agent will have contacts to good home inspectors to go through the house when it’s finished.  Your agent will know if the builder’s lender is reputable, and if not, your agent will be able to recommend a highly regarded lender to you.  In short, your Troy Michigan real estate agent is a rolodex of home buying and selling resources.

If you’re looking at new construction and need a personal real estate agent, I can help.  Call me today 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

The housing plan included in President Obama’s stimulus package has many good qualities that will help those seeking Troy Michigan real estate. 

There are two main points to the housing plan:

1. To help people once again obtain reasonable mortgages to afford the home of their dreams.
2. To keep people in the homes they already have. If it works the way it is planned, it is reason for a collective sigh of relief for millions of homeowners feeling threatened by foreclosures.  

That’s really it in a nutshell. There are many incentives wrapped up in each of those two areas to help both homeowners and prospective home buyers, but the very impetus behind the stimulus housing package  is simple.

For Current Homeowners

If you have a current mortgage that you can’t handle, now is the time to talk to your mortgage company. Don’t wait too long because some of the detailed elements of Obama’s housing plan are meant to be short-term in their offer so as not to over-tax the budget. While you have the chance, see if your mortgage can be reduced to reflect current home values. That can provide you with the equity you would have already built up but lost due to a drop in housing values.  It will also lower your monthly mortgage to a manageable level.

For New Home Buyers

This is your market now. The Troy Michigan real estate prices are much lower which gives you a chance to buy a home you might not have been able to afford before.  President Obama’s housing plan provides tax incentives for you.  However, just like with current homeowners, the time to do this is now. Because of the stimulus to the Troy Michigan real estate market, housing values are not going to stay as low as they currently are. Also, many of the incentives like the tax credits are valid for a very limited time.

If you’re ready to take advantage of the stimulus package benefits by buying a home, I can help. And, as a licensed real estate broker and lawyer, I can keep you from making a costly mistake in the process.  Call me now at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

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

All the talk is about how the President’s stimulus plan helps out new and first time home buyers.  The good news is that it also helps homeowners.  You can get stimulus plan benefits from your existing Troy Michigan real estate too.  Add a little green living to your environment and you’ll be pocketing some change at the end of the year from your income tax return.

Under the stimulus plan, both eco friendly new home purchases and eco friendly improvements on existing homes are tax deductible. Now’s the time to make your home more energy efficient and get a tax break at the end of the year for your efforts.

Going green saves money, makes your living environment healthier, and improves the world we live in. To reap the benefits from the stimulus plan, you can make major home improvements such as adding solar power or moderate priced home improvements such as adding low flow water fixtures.

You need to make your home improvements soon to get the stimulus plan benefit.  The plan only allows for the tax benefits through the year 2010.  Why wait?  Use this as motivation to get your projects started (and completed) now.

Here are a few additional eco friendly home improvements to consider for your Troy Michigan real estate:

• Re-cover your roof: The color of your roof can make a big difference in how well your attic retains or refracts heat and cold.
• Install an energy efficient Energy Star furnace: Make sure it has a high SEER rating (seasonal energy efficient ratio).

With a little work and a reasonable investment, your Troy Michigan real estate will not only pay you back in dividends for years to come, it could get you a great tax break.

If you need more ideas for how to make your home energy efficient and get tax credits, give me a call at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

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

It’s coming up on Christmas time, which means that people are decorating their home with lights and tinsel.  It also means that it’s time to pick a Christmas tree.  If you own Troy Michigan real estate and you’ve never had a real Christmas tree or you don’t seem to get the right tree, these tips and tricks can help you pick the perfect tree:

Buying Your Tree

1. Measure where you’re going to place the tree in your home, from ceiling to floor.  You’ll want your tree to be at least a foot shorter than the ceiling, so take a measuring tape with you when you shop for your tree.
2. When measuring for height, adjust for the star, angel or topknot that you’ll be using; most can add as much as twelve inches to the height of your tree.  Measure the opening of your Christmas tree stand, so you know how wide the base of the tree can be.
3. The base of the tree should be straight and at least six inches long to fit nicely into your tree stand.
4. Run your fingers along the needles of the tree you’re looking at, and give the tree a shake.  Very few needles should fall off.
5. For the best shape, full branches, rich color and good needle retention on Christmas trees,  choose a Balsam fir, Douglas fir, Fraser fir, Noble fir or Scotch pine.
6. Buy as soon as you can for the best quality, or wait longer for best price.

Taking Care of Your Tree

1. After you get it home, cut an inch off the base so your tree can take in water more easily.  Make sure the cut is straight.
2. Use a stand that holds at least one gallon of water.
3. Make sure you water your tree often.  This keeps the needles from drying, as well as keeping the fragrance strong.  Check the water level every few hours.
4. Don’t add anything to the water – no aspirin, soda water, bleach, etc. – to keep it fresh.  According to the experts, lots of plain water is best.

When you own one of the Troy Michigan real estate homes you’ll want to find the perfect Christmas tree, one that’s lush, brightly decorated, and keeps the cheerful Christmas spirit alive. 

Want a new home to decorate?  I can help.  Call me now at 248-514-2640 or email me at info@NorthWoodwardHomes.com.  Have a Merry Christmas!

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

According to the 2006 National Association of Realtors (NAR) Survey of Home Buyers and Sellers, 95% (ninety five percent) of home sellers were satisfied with the service provided to them by their full service Realtor when selling a home. However, only 50% (fifty percent) were satisfied with the service of their discount Realtor. I am not surprised at all. Before I affiliated with RE/MAX, I worked in a discount shop. I can tell you it is absolutely true that you get what you pay for. Most people want the very best service and are willing to pay for it because it is worth it. In this challenging market we are in, sellers need maximum marketing exposure which the discount shops cannot provide because they cannot afford it. Today, sellers need way more than just having their home placed on a Multiple Listing Service to get their home sold. I have developed a Thirty Day Marketing Plan by which I am able to sell 75% (seventy five percent) of the homes that I list. Abviously, it costs money to do this but the point is that IT SELLS HOMES. Homes listed by discount shops take longer to sell, sell for less and usually with more complications. I frequently represent buyers.  Almost always, when I am in my car with the buyer who wants to see a home that we drove by listed by a discount shop, when I call the phone number on the sign, it goes to voice mail. Of course, I don’t end up showing the home and the buyer buys something else. Another thing to consider is that when you list your home with a discounter, you have placed your home in a discount category. Doesn’t your home deserve better? Moreover, a Realtor agreeing to a discount has just showed you the level of his or her negotiating skills. He or she has already given away THEIR OWN MONEY. What do you think they will do with yours?

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