Archive for February, 2008

Hitwise Ranks Remax.com #2 Real Estate Website

Posted in Southeast Michigan Real Estate by Michigan Real Estate Expert on February 29th, 2008

Between 1997 and 2006, the number of home purchasers that found their home on the internet jumped by 1,200 percent according to the National Association of Realtors 2006 Profile of Home Buyers & Sellers. The use of the internet to find a home is here to stay. In fact, in 2006, it was the number two source that buyers used to actually find the home that they purchased. The number one source that buyers used was a Realtor. Therefore, if one is serious about selling a home in this market hire a RE/MAX Realtor and have your home marketed where the buyers are.

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

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A Great Example Of Why A Home Seller Should Not List With The Highest Bidding Realtor

Posted in Troy Michigan Real Estate by Michigan Real Estate Expert on February 2nd, 2008

I am a RE/MAX Associate Broker/Attorney selling homes in the North Woodward Area of Oakland County in Southeast Michigan. Unfortunatley, our market has been declining over the last several years. Approximately nine months ago, I had a listing appointment with a couple in Troy, Michigan who needed to sell their home due to a relocation. I provided them with the then current comparable sales and listing data which they found disappointing as most sellers do in a declining market. I did not agree to list their home at the top of the market as they insisted and they found another Realtor who did. I have kept track of the status of the home on the Multiple Listing Service and now, nine months later, it has still not sold. In fact, it is now listed at a price below that which I think I could have sold the home nine months ago. I have learned that in a declining market, what few buyers there are look at and buy homes between the bottom and middle of the market because, understandably, they want the best deal.  So, when the top of the market seller decides to lower his or her price downward they find themselves CHASING the top of a declining market. Unfortunately for them, they end up losing more money in the long run. In the case of the Troy Michigan real estate sellers, I felt that they needed to price their home at $359.000. The high bidding Realtor listed them at $375,000. In the nine months that have followed, they have adjusted the price to $364,900, $359,000 and now it is priced at $350,000. Of course, they have continued to pay for utilities, taxes, insurance and to maintain the home. By my calculations, I could have saved them about $20,000 had they listened.

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

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