Lee Morof's Real Estate Blog

In today’s environment, do you think buying one of the Royal Oak Michigan homes for sale has become less popular than renting?  Then, you’ll probably be surprised to learn that 81% of American adults still think that buying a home is the best investment a person can make.

In comparison, two decades ago, a CBS News/New York Times survey found that 84% of American adults thought buying a home was the best investment a person could make.  That’s only a 3% decline in 20 years.

The new information is based on two nationwide studies performed this year by the Pew Research Center and Trulia, a real estate website.  The Pew Research Center’s survey sample included 2,142 adults.  Fifty-seven percent of the people who answered the survey own a home, 30% rent and the remainder has other arrangements, such as living with family members.

Here are some other findings provided by the studies:

• Buying is more affordable than renting in 78% of America’s major cities.
• 81% of renters would prefer to own a home than continue to rent.
• 47% of homeowners say their home is worth less now than before the recession started.  31% say its value is the same.  17% say their home is worth more than before the recession.

The bottom-line?   In most areas of the country, even though home prices have declined in the past four or five years, homeownership is still preferred and is also a practical financial decision.

If you’re ready to buy one of the Royal Oak Michigan homes for sale, I can help you find one that you’ll love in a price range that fits your budget.  To find the perfect Royal Oak Michigan home for sale, 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

In order to get the most buyers through your front door, you’ll need to do more than just stick a sign in the front yard. An aggressive and thoughtful marketing campaign can make the difference between a quick sale and your house continuing to sit on the market with little activity.

Take the time to thoroughly market your Royal Oak Michigan home for sale by owner (FSBO).

1. Take a lot of good photographs. You have to expect that buyers will look at your property online before they decide to take the time to visit it in person. Make sure you have a lot of photographs online and that they do your house justice. Take pictures from multiple angles in each room and choose the best ones. Also, if you have a great yard, make sure you show it off.
2. Make the most of your signage. Ensure your phone number is clearly visible. Also, check with your homeowners association and neighbors that live at busy intersections to find out if you can put a sign with an arrow pointing toward your house.
3. Put ads on every website you can. Most buyers start their search on the Internet, so make sure your Royal Oak Michigan home for sale by owner has a strong online presence.
4. Don’t forget about print ads. Many buyers still look at newspaper Classifieds, so make sure your house appears there. You can often place large ads in smaller publications for relatively little money.
5. Host open houses. Not every location is especially suitable, but try it a couple of times and see how many people turn out.  If you’re getting good foot traffic, keep it up.

If you need help marketing your Royal Oak Michigan home for sale by owner, please call me 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
Call:  248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com

You’ve decided to try to sell your Royal Oak Michigan home for sale by owner (FSBO).  One of the many tasks you’ll be performing is showing your home to potential buyers.  You won’t personally know most potential buyers, so be sure to take precautions to stay safe.  After all, these are strangers you’re allowing into your home.

Here are six tips to protect your safety when showing your Royal Oak Michigan home for sale by owner (FSBO) to potential buyers:

1. Pre-qualify potential buyers.  The most basic thing you want to do is identify qualified buyers by determining if a potential buyer can afford to buy your home.  The best way to do this is to require that the potential buyer give you a copy of their pre-approval letter before scheduling a viewing of your home.  Buyers who are not serious about buying within the next few months will not have bothered to get pre-approved, and buyers who cannot afford your home will not be able to get a pre-approval letter.
2. Use a sign-in sheet.  Keep a sign-in sheet near the entrance to your home.  Have everyone who comes to view your home fill out his or her name, address and phone number on the sheet as soon as they enter.
3. Stay with them while they tour your home.  While you don’t want to hover over their shoulders, don’t allow them to wander around your home by themselves.
4. Have someone else with you.  Don’t be home alone.  Have your neighbor, a friend or family member with you at all times.
5. Hide valuables.  Do not leave money, jewelry or other valuables where they can be seen or easily taken.
6. Require an appointment.  Whether you’re selling your home as a FSBO or with an agent, requiring an appointment allows you to keep a normal schedule.  You don’t want people touring your home while you’re eating dinner or taking a nap.   If a buyer is really interested, he or she will not have a problem making an appointment.

Want help marketing your Royal Oak Michigan home for sale by owner?  Give me a call 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
Call:  248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com

With the struggling economy and the move toward living greener, small houses are becoming more popular.  You may have heard about the Small House Movement and wondered if living in a small Royal Oak Michigan home for sale will be right for you.

To help you decide, here are answers to some of the most frequently asked questions about small houses:

How tiny is a small house?

What is typically referred to as a small house varies widely in size from about 650 square feet down to the extremely miniscule house of about 120 square feet. However, any home with fewer square feet than you’re living in now can be considered a small house.  If you’re currently living in 3,000 square feet and you move to a Royal Oak Michigan home for sale that has 1,500 square feet, you’ve downsized by half.  It all depends on your perspective.

Does smaller equate to less expensive?

Most smaller Royal Oak Michigan homes for sale are less expensive simply because of the reduced square footage.  For the same reason, smaller houses cost less to heat, cool and maintain.  Of course, if you add on luxury features like marble counters and hand-carved built-ins, a small home can quickly go from economical to expensive.

Do I have to have it built from scratch?

Although the Small House Movement trend is fairly new, there have been small houses around for centuries.  Depending on the area in which you live they may be called cottages, bungalows, row houses, town houses or even shotgun houses.

Whether you want a micromini house, a mcmansion or any size in between, I can help you find and negotiate a good price for it.  Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com to get started.

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

The real estate market is flooded with homes for sale.   Interest rates are at an all time low on fixed rate mortgages.  And, terms for acquiring a home loan are still fairly open.  This is expected to change and possibly soon, which means now is prime time to buy Royal Oak Michigan homes for sale.

To help you with this process, here are answers to four of the most popular questions I’ve recently received from home buyers:

Q:  Where can I find the best deal on Royal Oak Michigan homes for sale?
A: The answer is almost anywhere.  Because homes are sitting on the market for a long time, most homeowners are more willing than ever to negotiate.

Q:  What about buying new construction?
A: The option for new construction is open to more people than ever before.  Builders are offering extended home warranties and many upgrades to help move their inventory.  Some builders now offer financial assistance to reach an even larger number of buyers.

Here’s the number one tip to get the best deal in new construction:  Before starting your search for new construction, hire a real estate agent.  Your real estate agent can negotiate the best deal for you, even in new construction.   Be sure to visit new construction with your agent so the builder knows you’re represented.  This representation costs you nothing and can save you a lot of money.

Q:  Should I look at short sales and foreclosures for my best deal?
A: Not really.  Although there are good deals to be found, the time and effort involved in purchasing short sales and foreclosures can be a huge negative.  Negotiating with a homeowner can be much easier than trying to negotiate with a lender for the short sale or foreclosure.

Q:  Should I wait for home prices to go even lower?
A: Definitely not.  Prices of Royal Oak Michigan homes for sale have come down from a few years ago and are much more stable and accurate.  The days of inflated home prices are long gone.  This does not mean that homes will not increase in value.  It only means that they will do so at a rate that should prevent the upside-down mortgages that some people are facing today.

This is a prime time to purchase a home.  With the large number of homes on the market, you are certain to find one to call home.  Let me help you in your search.  Call me today at 248-514-2640 or email me today 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

With the overabundance of properties for sale these days, your Royal Oak Michigan home for sale needs to stand out from the crowd.  One of the easiest things you can do to make your home shine is to finish all the basic repairs you’ve been putting off.

Here are 5 little repairs that make a big difference to potential buyers who visit your Royal Oak Michigan home for sale:

1. Perk up the exterior: As we all know, first impressions are crucial.  Give your picket fence, mailbox and front door a fresh coat of paint.  Missing roof shingles and hanging gutters frighten potential buyers, so fix them.  Give buyers the opportunity to think, “Where’s the best place for our couch?” rather than “Oh no, there’s a problem with the roof!”
2. Fix dripping faucets: A dripping faucet calls attention to itself, but it’s not difficult or expensive to fix.   While you’re fixing that dripping faucet, why not replace the fixtures.  It’s a minor expensive that gives your bathroom or kitchen a major facelift.
3. Cover wall cracks: Hairline wall cracks that appear above windows and doors are caused when framing lumber dries out and shrinks or the structure settles.  Although they typically are not signs of structural problems, they may scare away potential buyers.  Cover them with spackling or adhesive-backed fiber mesh drywall tape.
4. Repair floors: Replace chipped or cracked tiles, and clean or replace the grout.  Refinish hardwood floors.  Steam clean or replace carpets.
5. Restore baseboards: If you’re like most people, you haven’t thought about your baseboards for years.  During that time, pets, children and vacuum sweepers beat-up your baseboards making them dirty, scratched eye sores.  Take the time to repair the scrapes by sanding them smooth or filling in dents with spackle.  Then, repaint the entire baseboard from end to end.

If you’re ready to put your Royal Oak Michigan home up for sale, I can help.  Give me a call 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
Call:  248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com

Are visions of renovating a stately, older Royal Oak Michigan home for sale dancing in your head?  Older homes offer a unique beauty that can’t be found in newer homes. And, rehabbing them can be rewarding.  But, think twice before taking on this difficult and expensive task.

Here are six problems to look for in the older home you’re thinking about buying:

1. Plumbing problems.  The plumbing in older homes can be inefficient or downright unreliable.  Homes that are 25 years old or older almost always have plumbing problems with the most common problem being lead pipes.  Even after lead pipes were replaced in the late 1940s, the earliest galvanized steel pipes still contained lead. Lead also was present in much of the solder used to join copper pipes as recently as the mid-1980s.

2. Electrical issues.  Electricity in older homes may not be grounded and wiring may not be safely installed.  Even if the electricity is grounded, it may not be available in the quantity needed for today’s home and the vast array of gadgets that depend on electricity.  Electrical boxes in vintage homes were typically 60 or 100 amps. Today’s standard is 200 amps.

3. Lack of insulation.  Older homes are typically drafty, cold and uncomfortable. Not to mention expensive to heat and cool.  Check the type of insulation that was used.   Many older homes were insulated with newspaper, asbestos, or not insulated at all.

4. Cracked foundations.  The foundation materials used in older homes, such as cement and cinder blocks, crack and leak over time.  These days the exterior sides of foundations are commonly sealed; not so with older homes.  As a result, water seepage occurs and can lead to structural threats and health issues such as mold.

The wisest thing to do before buying an older home is to have it thoroughly inspected by a professional home inspector.  Then, calculate exactly how much time and money it’ll take to renovate the home so it matches the vision in your head.

Whether your dream is to buy an older or newer Royal Oak Michigan home for sale, I can help.  Give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
Associate Broker/Attorney  
Certified Distressed Property Expert
RE/MAX Showcase Homes
Birmingham, Michigan
Call:  248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com

Energy efficiency and other aspects of environmentally-friendly living are very important to today’s home buyers.  As a homeowner who wants to sell your property quickly and for as much as possible, it’s crucial to highlight the green elements of your Royal Oak Michigan home for sale.

Your home may have more eco-friendly features than you realize, or you may be able to inexpensively add them.  Here are a few ways to appeal to eco-conscious buyers:

• Highlight energy-efficient features.  What energy-saving systems and appliances do you have in your home?  Take an inventory of your home and identify items such as low-emittance windows, furnace or air conditioner with a high-efficiency rating, programmable thermostats, solar/wind/geo-thermal elements for the home or pool, improved insulation or a tankless water heater.  Add these features to the marketing materials for your Royal Oak Michigan home for sale.
• Publicize health benefits.  Does your home have high efficiency air filters which remove indoor air pollutants?  Did you use low-VOC (volatile organic compounds) paint which reduces problems with allergies and chemical sensitivities?  What about eco-friendly flooring such as low-VOC carpets, cork or reclaimed wood which do not release chemicals?  Mention these features and their associated health benefits.
• Promote natural elements.  Consider the functional natural elements you have inside and outside your home.  Natural lighting coming in through windows or skylights.  Strategic placement of trees to provide natural shading.  Mature trees or shrubs, vegetable or flower gardens and fruit trees.  Eco-friendly gardens and lawn grown without the use of harmful pesticides.  Effective use of cross ventilation to cool your home when the windows are open.  Use of plants to reduce soil erosion.  Promote these elements to your buyers.
• Advertise water conservation.  You may be surprised how inexpensive it is to add water-saving features to your home.  Shop for water-saving toilets, shower heads, dishwashers and washing machines.  Plant landscaping that doesn’t require extensive watering.  Buy a rain barrel to collect rain water for use in garden or landscaping.  Be sure to advertise these water- and money-saving benefits.

In your marketing campaign, you may also want to remind potential buyers that purchasing an existing home is greener than having a new home built.  That’s because it does not require the energy or materials needed to construct a new home.

If you’d like to put your Royal Oak Michigan home up for sale, you’ll get the results you want from my proven 30-Day Marketing System.  For more information about my system, give me a call today at 248-514-2640 or email me at info@NorthWoodwardHomes.com.

Lee Morof
Associate Broker/Attorney
Certified Distressed Property Expert
RE/MAX Showcase Homes
Birmingham, Michigan
Call:  248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com

Here are a few tips to help your Royal Oak Michigan home for sale show better and sell faster.

1. Get rid of the excess:  Eliminate as much as possible, and then do it again.  Remember when staging your Royal Oak Michigan home for sale, less is best.  Swap out personal photos for framed art.  The main idea is to remove as much as possible and replace personal items with neutral objects so that people can imagine their things in the home.
2. Repair and paint:  Before painting, fix all those minor dings that don’t really bother you.  Buyers notice everything.  A missing piece of baseboard, an outlet that doesn’t work, or a closet door that won’t stay on track all seem minor, but they can have a huge affect on how a buyer views your home.  The next step is to apply a fresh coat of paint in a neutral color.  Freshly painted walls make a room look cleaner and larger.
3. Improve the curb appeal:  You have to get people in the door before they’ll buy your Royal Oak Michigan home for sale.  If your house looks bad on the outside, buyers won’t waste their time taking a look at the inside.  Improving your curb appeal doesn’t mean you need to hire a landscaper.  It can be as basic as trimming your hedges and trees, especially those closest to your house.  Repair or replace loose porch railings and make sure the exterior paint is not chipping.  If needed, scrape and paint; peeling paint is a real turnoff to buyers.  Keep the lawn mowed.  Put away bikes, toys and garden tools.

Following these simple steps will go a long way to getting your home sold quickly.

Ready to sell your home in southeast Michigan?  I can help.  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