Lee Morof's Real Estate Blog

You know it’s a buyer’s market.  But you really need to sell your home now.  Here are 6 tips to get Royal Oak Michigan homes for sale sold, even in today’s real estate market:

1. Price your home competitively from the start.  Ask your agent to find out what similar homes in your neighborhood sold for in the last 6 months.  Don’t bother looking at pricing prior to that.  And don’t base your decision on listing prices.  A lot of homeowners price their Royal Oak Michigan homes for sale high to start with, but end up drastically reducing the price in order to get them sold.

2. Offer incentives.  There are a lot of similar properties on the market, so in addition to competitively pricing your home, you should consider including incentives.  You could offer a home warranty, to pay part of the closing costs or to leave the big screen television that fits perfectly over your fireplace.

3. Pick the right agent. Look for local agents who are listing, marketing, and selling in your neighborhood even though the market is slow. Interview several of them and ask what price they recommend and how they’ll market your property.

4. Get your home in tip-top shape.  You cannot afford to let anything slip through the cracks… literally.  If you have cracks in your driveway, walls or foundation, get them fixed before you put your home up for sale.  Make your home shine.

5. Be flexible on the deposit.  In a slow market, you may need to settle for a smaller deposit than you’d typically require.  If the buyer is pre-approved for a loan and no other offers are on the table, reducing the deposit may convince the buyer to make an offer.

6. Negotiate.  Buyers can and will be demanding in today’s real estate market.  Prepare yourself for some tough negotiating.  Make sure you’re working with an agent who excels at negotiating, and then let her do her job.

Want to work with a local agent who is an expert negotiator and knows how to get Royal Oak Michigan homes for sale sold in this buyer’s market?  Give me a call 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

Before you put your Royal Oak Michigan home up for sale, you want to make sure it looks as attractive and modern as possible. Buyers usually walk away from a Royal Oak Michigan home for sale with outdated color schemes and fixtures. This is especially true of bathrooms. Even if you lack the budget and space to turn your bathroom into a spa-like retreat, you can still give this room a quick facelift.

1. Get creative with color. If you don’t have the time or budget to replace dated ceramic tile, try camouflaging it with towels, rugs, and other accessories for a more modern color scheme. For example, you can pair pink with brown or bright blue with light green.

2. Replace your fixtures. Brushed aluminum and pewter bathroom fixtures are more modern than the shiny chrome fixtures from years ago. They are also easier to clean because they don’t show water marks as easily.

3. Find new lighting. A bathroom light can do more than just illuminate the space; it can create an atmosphere. Sconces placed on either side of a mirror tend to look better than harsh overhead light. Track lighting can be arranged to provide light in dark corners of the room.

4. Accessorize. Put your personal touch on your bathroom with shower curtains, soap dispensers, and scented candles. Don’t feel like you have to stick to the bath accessories aisle, either. A clear vase can display bath salts. Baskets can hold rolled-up towels. A beautiful serving bowl can be filled with potpourri.

Preparing your Royal Oak Michigan home for sale is an important part of the process. I can help you prepare you home to sell it faster and for more money. Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com to schedule a free consultation.

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

There is no simple way to discover which home-improvement projects will yield the highest return when you’re ready to sell your home. There are many variables that come into play such as the state of the real estate market when you put your Royal Oak Michigan home up for sale, how old your home is, and the style of your home. 

Here are several costly projects to pass up if you want to get the biggest bang for your bucks:

Extravagant Landscaping

Buyers expect a well-maintained yard; they don’t expect the home’s value to increase because of it. Beautiful landscaping may encourage potential buyers to take a closer look at your Royal Oak Michigan home for sale, but it most likely will not add to the selling price. If a buyer is unable or unwilling to put in the effort to maintain an elaborate garden, it becomes a negative feature rather than a positive one.

Swimming Pool

A swimming pool seems like fun to have, but can actually be more of a hassle than a pleasure. Many potential buyers consider swimming pools expensive and time consuming to maintain. Buyers may say no to an otherwise perfect house if it has a pool. Or, they may include in the contract a stipulation that the seller has to take down an above-ground pool or fill in an in-ground pool, at their own expense, before closing.

High-End Upgrades

Buyers don’t want to see the absolute cheapest renovations in a Royal Oak Michigan home for sale, but they also don’t want to pay more for the highest-priced upgrades that they don’t need.   Marble countertops in a kitchen and a built-in sauna in a bathroom are nice, but unless you have a high-end home in a high-end neighborhood, don’t expect to get your money back from these upgrades.

Don’t spend thousands of dollars on a home-improvement project that will not increase your home’s value when it comes time to sell.  Do spend money on projects that will make your home a wonderful place to live in now and that may increase the selling price when you’re ready to sell.

Are you ready to sell your home?  I can help.  Give me a call 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

When dealing with a purchase contract for your Royal Oak Michigan home for sale, you need to look in the actual print for a few things before you sign on the dotted line. Your real estate agent and/or lawyer will be able to point out glaring deficiencies, inconsistencies or other things not in your best interest. However, the more you know about the purchase contract yourself, the better chances you have of getting a good deal on your Royal Oak Michigan home for sale.

Here are four points to ponder in your purchase contract:

Closing Date
Sometimes a buyer may want to wait a month or two before taking over the title. You want to check the closing date against your own schedule and make sure it’s acceptable. Don’t be inflexible.  In this highly competitive real estate market, be willing to negotiate on the closing date – unless, of course, you don’t have a choice.

Remaining Property
Contracts range in terms of what fixtures and personal property will remain with the home. In a few cases, the contract entitles the buyer to everything on the property. In other cases, the contract entitles them to nothing more than attached (ceiling) light fixtures and electrical socket covers. Carefully read over what the buyer expects to remain with the home and make sure you agree.

Contingencies
The factors a buyer may want in place before the contract is finalized may be more than you’re willing to deal with. For example, the buyer may want an inspection before signing, or they may want to sell their own home. They may want the contract reviewed by their lawyer or they may still be waiting for their mortgage to be approved. 

The problem with contingencies is they can drag on much longer than you expect them to. To be safe – even if you’re okay with the contingencies – set a time limit for them to be accomplished. This way, your sale won’t drag on forever without ever closing.

Expiration Date
Finally, pay attention to the expiration date of the contract. You may have eight hours or eight days to accept, reject or counter the contract. Pay attention to how long you have to consider the offer for your Royal Oak Michigan home for sale.

If you’re trying to sell your home and need a knowledge agent on your side, I can help. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

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

I’ve said before and I’ll say it again, the fall is a great time to sell Royal Oak Michigan homes for sale. Nostalgia runs rampant in potential buyers. That “nesting” feeling pushes them to look harder for the perfect home. After all, who wouldn’t want Thanksgiving or Christmas to be the day their friends and family see the gorgeous new home?

With this in mind, many sellers hold open houses in the fall. It gives potential buyers the opportunity to walk through Royal Oak Michigan homes for sale looking for that dream home they can call their own. Agents, homeowners or both smile, nod, and graciously offer drinks and snacks. It’s a beautiful thing.

It’s amazing what a little extra touch can do to spice up an open house. A cider wassail bowl may be just the extra touch that could help sell your home this fall.

This wassail bowl is a hot and spicy cider punch. Traditionally, it’s made with ale or wine, but you never want to overdo it with the alcohol at an open house. You can make it hours before, and put it in a slow cooker on very low to keep it warm. This recipe makes 12 servings.

Ingredients
3 tablespoons light corn syrup
3 tablespoons sugar
¼ teaspoon cinnamon
5 small red cooking apples  
2 quarts apple cider
1 lemon, thinly sliced
1 stick cinnamon
4 whole cloves

Directions
Heat corn syrup in a small pan; combine sugar and ¼ tsp. cinnamon in a shallow dish. Roll each apple in hot syrup, then in the sugar. Arrange on a baking pan and bake at 400 degrees for about 15 minutes (apples shouldn’t lose their shape).

In a large pan, slowly heat the apple cider, lemon, stick of cinnamon and cloves over a very low heat. Don’t let it boil; boiled apple cider gets a bitter taste. Before serving, strain out the spices and add the roasted apples. Serve piping hot.

This is my favorite cider recipe to use, but this wassail bowl recipe is equally tasty.

When you have multiple Royal Oak Michigan homes for sale, like I do, you quickly learn the things that work and the things that don’t. Whether you serve apple cider, cider wassail or just a plain fruit punch, the little things can make all the difference.

If you’d like to get your home sold over the holiday season, I can help. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

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

If you’ve thought about buying a Royal Oak Michigan home for sale, you have to be wondering, “Is it ever going to be a good idea?” I understand; there’s an endless stream of media pouring out bad housing news. It’s discouraging to say the least if you’re a homebuyer or a home seller.

Yet, the problem with the news from the home buying standpoint is that it focuses on profit. The media says, “You can’t make a profit from buying a home.” They talk about prices dropping and more homes hitting the market, among other things. What they miss, however, are the real reasons most people buy a Royal Oak Michigan home for sale.

It’s your home. Period.
You can do what you want with it. You don’t have to worry about whether painting a mural on the wall will get you an increase in rent. You don’t have to deal with the noisy people who just moved into the apartment above you, who obviously brought a zoo because something’s pounding on your ceiling all the time. You can paint the walls black and nobody can say “Boo” about it, because it’s your home.

Fixed-rate mortgages stay put.
Unlike rent, which can go up and up and up, fixed-rate mortgage loans stay the same. They work exactly like they sound; the rate you start at when you buy your Royal Oak Michigan home for sale is the rate you end at when you finish paying off your mortgage.

You can eventually stop paying out.
Rent will always be owed. At no time in the future will your landlord say, “You’ve paid enough rent. You don’t have to pay anymore.” Mortgages, however, will eventually be paid off. Therefore, while renters pay for 15 years and then must continue to pay, homeowners, who have a 15-year mortgage, can pay for 15 years and then stop.

It’s your castle.
Nobody owns it but you. There’s a certain pride to owning a home that far outweighs profit. The excitement from making a profit, however small or large, is a fleeting, momentary thing. When you buy one of the Royal Oak Michigan homes for sale, you’re buying a castle – a safe haven where you can get away from the world; a place where you can relax and be comfortable.

If you’re ready to find your castle, I can help. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

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

You’ve repaired, de-cluttered, deep cleaned and polished your Royal Oak Michigan home for sale until it shines.  But how do you keep it that way when you and your family have to live in it every day?

Here are 5 tips to keep your Royal Oak Michigan home for sale ready to show (without driving yourself crazy):

1. Decree some rooms off limits.  There are a few obvious rooms that can easily be declared off limits such as the formal dining room and living room.  But there are others you may not have considered.  If you have 3 bathrooms, proclaim 1 or 2 of those bathrooms off limits.  Have a guest room but no guest?  Shut the door and forget it.

2. Hire a maid service.  You may not be able to afford a cleaning crew on a regular basis, but to reduce your stress while your Royal Oak Michigan home is for sale, consider hiring a housecleaner to come in once or twice a month.

3. Leave your shoes at the door.  Sure, it’s inconvenient, but it really does keep your floors clean much longer which means less vacuuming, sweeping and mopping.

4. Clean as you go. Anytime you get something out, put it away when you’re done with it.  Persuade every member of your household to do the same.

5. Use potpourri.  You may have read some tips I’ve given about baking cookies to make your home smell great for showings.  That’s an excellent idea for people who have lots of time or just love to bake.  But for the rest of us, put out a bowl of cinnamon scented potpourri and avoid cooking smelly foods such as liver, fish or anything fried until your home is sold.  If you can’t do without your fish, go out to eat.

Need to sell your home?  Let me help you get it sold so you can relax.  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

It’s time for some tough love, here. Your home doesn’t fit in with other Royal Oak Michigan homes for sale. It doesn’t play well with others. When you put it on the market, you priced it more than 8% higher than the other Royal Oak Michigan homes for sale. Frankly, it’s a market bully.

Look, I understand that you want to make the most out of your investment. Maybe you’ve done some serious remodeling that you feel warrants the price hike. I’m not putting any of that down, but I’d be doing you a disservice if I let you ignore the facts.

• There is no longer a federal tax credit to entice buyers and get them interested.
• Your house is competing with several foreclosures – many of which are priced as low as the lender can handle.
• The longer your house sits on the market, waiting for a buyer, the harder it will be to actually attract a buyer.
• There is a very little incentive for buyers to go out and buy now, especially higher priced homes.
• Mortgage rates are low, but lender qualifications are much tighter now.

Any seller hitting the market in today’s economy has two choices: wait or cut your losses. They aren’t pretty choices, but life is seldom convenient, no matter what commercials say.

If selling your home isn’t an absolute necessity, consider the fact that it might serve you better to hang in there. If you don’t have a compelling reason to put it on the chopping block, don’t.

If you must sell your house, don’t let it be a market bully. Price it according to the local market, not the price of a home across the country.  In this case, you want your house to be part of the “in” crowd.  Listen to your real estate agent’s advice and use the data he or she provides in the Comparative Market Analysis to set the best price.

With the way the economy is now, you can bet that owners of competing Royal Oak Michigan homes for sale are serious about selling.  The competition is tough, so, when pricing, be kind to your home and price it low enough to sell.

If you’re ready to sell your home, I can help get it sold. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for information.

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

Are you tired of looking for a Royal Oak Michigan home for sale? Have you found any that had everything you wanted, but cost too much? Are you dissatisfied with the selection?

A while back, I had a buyer tell me he didn’t want to spend more than $100,000 on a Royal Oak Michigan home for sale. He gave me a long list of features he felt the house must have – a pool, a big kitchen for his wife, four bedrooms, etc. With it being his market (a buyer’s market), he said, I should have no problems finding a home with those qualifications and that price. He refused to budge on any of it. That buyer is no longer my client.

You May Have to Compromise
The buyer had read tons of material about it being a buyer’s market. Prices, while not particularly great for the sellers, are great for the buyers. “Thar’s gold in them thar hills.” In other words, there are deals to be had.

It’s all true, but there are limitations to what your money can buy, even now. If you’re getting frustrated due to a lack of fully automated homes with pools and fallout shelters for $35,000, it’s time to ask yourself, “Do I really need a pool?”

Okay, so that’s an exaggeration, but there is a legitimate question in all this. Can you compromise? If you want a pool, can you buy a home with a big backyard where a pool can be built later? Do you have to have a pool right now?

Consider that a home is a long-term acquirement. Think about what you want versus what you need. For example, maybe you want a big kitchen. What you’ve found are smaller kitchens with big dining rooms. Can the two rooms be opened up to create a dining/cooking area? Again, can you compromise?

Before you go house hunting again, examine your expectations. Are they realistic? If not, create a list of needs, and then create a list of wants. Think about where you can compromise on the two lists. Of course, you should be able to get some of your “wants,” but you may not be able to get all of them.

When you look at a Royal Oak Michigan home for sale that you can afford, also look at the possibilities. Can the affordable home be remodeled over time into the dream home you want?

If you’re looking for a home with great potential, I can help. Call me 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

While many homes that haven’t sold are being rented instead, some that have been rented out are now up for sale. So what do you do if the house you’re renting becomes a Royal Oak Michigan home for sale?

Get a Fresh Perspective
Nobody wants to get kicked out of his or her home. However, if it comes down to it and you have 60 to 90 days left before you have to move from what is now a Royal Oak Michigan home for sale, look at your options from a fresh perspective.

• If the home has problems and you’ve been responsible for some of the upkeep, it’s no longer your problem. If you still don’t want to buy a home, you can rent somewhere else with a home that has fewer problems than the one you’re moving out of.
• If the rent was high and you’ve been struggling to keep it paid, that’s no longer a problem. If that sounds cold, let me warm it up for you a bit. Many houses are being rented rather than sold, because the owners either don’t want to get rid of them or can’t get rid of them. And, the current economy has caused rent to drop to a more affordable level in many areas.
• If you don’t like the neighborhood or the city and you have a job that can be done elsewhere, start looking. Can you transfer? Does your company have nationwide facilities? This is the perfect time to move to a community more suited to you.
• It may be a buyer’s market, but it’s also a renter’s market. Landlords are lowering rents,  raising amenities, offering the first month or two off the rent, adding in utility costs and anything else they can think of to attract renters. If you have a good renting track record and good credit, now is the time to start negotiating for a great deal.
• If you’ve been looking for a Royal Oak Michigan home for sale to buy, it could just be the one you’re renting!  With the historically low interest rates, you may now qualify to buy the home you’ve previously been renting. 

If you’re looking for the perfect place to buy, I can help. Call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

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