Farmington Hills, MI Real Estate News

By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
With the COVID-19 pandemic causing uncertainty in the economy and housing market, some Farmington Hills home sellers are asking themselves: “should I sell my home right now or should I wait?”  Some sellers are choosing to wait it out in hopes that the situation will improve in the coming months.Not everyone, however, has the luxury to take the wait-and-see approach due to job relocation,  growing family needs, facing a different financial situation, or some other personal reason. Although selling a home now and in the near future is going to look a lot different than it did only a few months ago, people haven’t stopped selling houses altogether and real estate transactions are still moving forward. Many sellers are still listing their homes, and buyers are still buying them.In late Marc...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
This week the median list price for Farmington Hills, MI is $334,900 with the market action index hovering around 46. This is an increase over last month's market action index of 42. Inventory has held steady at or around 93.Market Action Index This answers “How’s the Market?” by comparing rate of sales versus inventory.While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.Market Segments Each segment below represents approximately 25% of the market ordered by price. Stay Informed With the Farmington Hills Housing Market Here 
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Why Farmington Hills MI Home Sellers Need quality Real Estate Photos – There are many details to be handled when selling your Farmington Hills MI home from preparing your property for the market, pricing your home correctly, taking quality professional real estate photos, marketing your home, negotiating offers, inspections, and so on.With a top-rated Farmington Hill MI real estate agent like Tom Gilliam by your side, you can rest assured that every detail of selling your home will be handled on your behalf to your complete satisfaction. Tom will utilize every proven marketing resource available to help you sell your Farmington Hills MI home quickly and for top dollar. For the purpose of this article, we are going to focus on the importance of quality, professional real estate photos wh...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Is January the new April? When it comes to the real estate market, experts say yes.Regardless of whether that famous groundhog sees his shadow, a recent article on CNBC suggests spring will arrive early this year—at least when it comes to the housing market. In fact, some are speculating that January may very well be the new April.What’s causing this already-busy buying season to kick off ahead of schedule? Low inventory and rising home prices are spurring house hunters to come out of hibernation months before they previously would have.With that in mind, whether you’re buying or selling, or both, it’s time to get moving. The following checklists will help you prepare yourself or home property so don’t get left behind!Getting Ready To SellIf you’re hoping to put your place on the market...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Whatever it is you do for a living, there are probably things that an outsider would never be able to understand or appreciate. Deep down, we all want to be appreciated—and real estate agents are no exception. Underneath our name tags and professional attire, agents are regular people just like you. So, while you may not have any idea what it’s like to be an agent, you can totally appreciate what it’s like to feel unappreciated… So, on behalf of agents everywhere, let’s get into some common misconceptions that cause agents to feel unappreciated, and help you get the most out of your relationship with one. 1. The Internet makes what we do seem easy For many years, it was practically impossible for a non-agent to access the kind of information readily available on the Internet nowadays. ...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
It’s a new year, and with every new year comes new design trends—including in landscaping. The National Association of Landscape Professionals recently released their picks for the top landscaping trends of 2020. Some of the biggest landscaping trends poised to take over lawns across the US this year include: Multi-season landscape design. As homeowners become more cost and environmentally conscious in 2020, expect to see more versatile choices in landscape design—including choosing plants and other elements with multi-season functionality and the ability to thrive in a variety of temperatures and climates as this landscaping trend explodes. All things blue. With different shades of blue being chosen as the color of the year by a variety of design outlets (including Pantone and Sherwin-...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
When you renovate features in your home, you want to get the most bang for your buck. Not only do you want to make your home a better place for you and your family to live, but you also want your renovations to add to your home’s resale value.But what, exactly, are the features that will help your home sell faster?GIVE YOUR RENOVATIONS SOME CHARACTERAccording to recent data from Realtor.com (which analyzed more than 1 million single-family listings), the top three renovations that will help you sell your home quickly and at a prime price point? A chef’s or gourmet kitchen, a theater room, and a home gym. These renovation projects were named the “most profitable home features for sellers banking on quick sales.”Those three features were deemed the most profitable. But they weren’t the on...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Ready To Sell Your Farmington Hills Home? Why You need a REALTOR®. Most folks will agree that selling your home is one of the biggest financial decisions you’ll make in your lifetime and can be a complex process. Considering the relatively small cost of hiring a qualified Farmington Hills REALTOR® to assist you and the large potential risk of not hiring one, it only makes good sense to hire a professional to get your home sold fast and for the highest market price possible.A highly-qualified agent like Realtor Tom Gilliam, who is a member of the National Association of REALTORS® That can help you through all aspects selling your home in Farmington Hills, Michigan SETTING THE RIGHT PRICETypically, the selling process starts with determining a reasonable asking price. Tom knows the Farmin...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Why You Should Consider Farmington Hills MI Homes for Sale Buyers who are looking to purchase a home in the metro Detroit area should consider Farmington Hills MI homes for sale. A small, wealthy city in Oakland County, Farmington Hills is part of the northwestern suburbs of Metro Detroit, located about 30 miles northeast of downtown Ann Arbor. Farmington Hills has a charming, historic downtown area, which has recently seen extensive development along with an award-winning public school system. With a population of 81,235 and a median household income of $76,637, Farmington Hills was recently ranked as the fifth-best city in the state in which to live by Chamber of Commerce (a digital-based company). Search Farmington Hills MI Homes for SaleThe wide range of affordability from entry-lev...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
You are probably wondering that if a person can buy a house on their own, then why can’t they sell one on their own as a For Sale By Owner (FBSO) . Homes for sale in Farmington Hills, Michigan deserve a great Real Estate agent to market, stage, arrange appointments and screen buyers to assure they are pre-qualified and able to purchase your home and get you the best price possible. Houses that have the sign stating “FSBO” (for sale by owner) do not make much profit. According to the National Association of Realtors, in 2017, 89% of the sellers sold their house through a real estate agent and 87% of the buyers hired a real estate agent for the purchase. A house sale that was handled by a real estate agent went for $249,000, whereas one that was handled by the owner went for $190,000.A fe...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
I work hard to keep my clients informed about the market while they’re buying or selling their home. These weekly reports use real-time data so my clients can make decisions based on what’s happening in the market right now and how the market is changing week by week.A few questions these reports can help you answer:Is now a good time to buy or sell? Check the “Market Action Index” to see if the market is heating up or cooling down.How’s the market in my price range? Click into the “Market Segments” charts to see the how the market is behaving in different price ranges.What can I get in my price range, and where should I look? Use the “Median List Price” charts to see what you can buy in your price range, and search by zip code to compare different neighborhoods.Feel free to share this ...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
I work hard to keep my clients informed about the market while they’re buying or selling their home. These weekly reports use real-time data so my clients can make decisions based on what’s happening in the market right now and how the market is changing week by week.A few questions these reports can help you answer:Is now a good time to buy or sell? Check the “Market Action Index” to see if the market is heating up or cooling down.How’s the market in my price range? Click into the “Market Segments” charts to see the how the market is behaving in different price ranges.What can I get in my price range, and where should I look? Use the “Median List Price” charts to see what you can buy in your price range, and search by zip code to compare different neighborhoods.Feel free to share this ...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
You are probably wondering why you need an energy audit for your home for sale in Farmington Hills, Michigan.Well, imagine getting an offer for your house with the buyer paying the exact asking price. You had a home inspection done and the report came back clean. As a good gesture, you included insurance for the appliances and agreed to pay for repairs for the next year. Fast forward two months and the house is sold. A few months later, you get a call from the owner that the HVAC system is not working properly. Upon their inspection, the new homeowner found out the duct has inadequate insulation, which is causing warm air to escape. Since you had promised them insurance for repairs, you need to get the duct work changed.While the home inspector may be at fault here, it’s you who are sup...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Listed here are 184 typical actions, research steps, procedures, processes and review stages in a successful residential real estate transaction that are normally provided by full service real estate brokerages in return for their sales commission. Depending on the transaction, some may take minutes, hours, or even days to complete, while some may not be needed. More importantly, they reflect the level of skill, knowledge and attention to detail required in today’s real estate transaction, underscoring the importance of having help and guidance from someone who fully understands the process – a REALTOR®. Pre-Listing Activities   Make appointment with seller for listing presentation Send seller a written or e-mail confirmation of listing appointment and call to confirm Review pre-appoint...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
There’s no arguing that the housing market in the US is currently favoring sellers; historically low inventory is heating up competition and driving up prices. And even with those higher prices, homes are flying off the market faster than ever before (according to recent data from the National Association of Realtors, homes stayed on the market for an average of 26 days in April 2018—the fewest number of days since the Association began tracking the data in 2011).This favorable market is having a dramatic effect on seller confidence.According to the National Association of Realtors’ most recent Housing Opportunities and Market Experience (HOME) Survey, a whopping 75% of Americans believe that now is a good time to sell a home—up from 61% just two years ago. The Takeaway Three-quarters o...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
I'm sure that you are familiar with the battle of needs vs. wants… what we like to call must vs. lust. It’s a battle where you spend a lot of time fantasizing about the changes you can make in the home for sale in Farmington Hills, Michigan you just bought and then act on them without giving your needs a second thought. It’s time you stopped making frivolous purchases for your house.However, in order to satisfy your inner shopper and give you a way to let all that new-house excitement out, we have come up with a few tips to keep you in line.Most first-time home buyers find themselves in a situation where they are torn between the responsibility of taking care of a house repair or buying something that they don’t actually need. Here’s how the inner conversation usually goes:“This 50″ LCD...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Are you planning to take the FSBO route for your Farmington Hills Michigan real estate? Before you put up that sale sign, there’s one thing that we would like to ask:Can you handle this deal “ALL ON YOUR OWN”?Let’s not be too hasty by saying “yes”. If you are thinking about saving that commission, which you have to pay to the real estate agent, then we would like to tell you a small fact:You might not have those savvy negotiations skills that are required to cut a profitable deal… which means that you will be losing money on the sale price.The one thing that real estate agents excel at is bringing you multiple buyers and selling your house at a price that is higher than you expected. They take care of everything involved in the process such as staging, online marketing, open houses, mor...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
There is no doubt that it is tough for Farmington Hills home buyers with the shortage of inventory to find the perfect home. The Farmington Hills inventory shortage has created a very competitivecompared to most recent times. As a potential home buyer you might be asking yourself if you should wait in out another year, but in reality you may want to rethink that idea. Their are homes for sale out there for you but you need to be ready aggressive and have a great real estate agent to help you through the process.                                                                                                                                                          Farmington Hills Home Buyers Wont Save Money WaitingReferencing the US Home Price Insights from Corelogic, Farmington Hills ho...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
From all accounts, this spring’s 2018 housing market is going to be a busy one. High buyer demand has carried over from last year and so have inventory concerns in many markets. In other words, anyone hoping to find and buy a house this spring should be prepared for buyer competition from other interested buyers. What does that mean? Well, in short, it means moving quickly and saving up some extra money to sweeten the pot, if necessary. In fact, according to a recent survey, home buyers say they are checking online listings every day and 40 percent say they’re planning to put more than 20 percent down, which is a great example of  in today’s market . Other strategies buyers say they’re employing this spring to beat the buyer competition include setting price alerts and offering above as...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Buying a house is a major financial transaction and, for most Americans, the largest one they’ll ever undertake especially the millennial population. So pulling the necessary resources together to be able to afford the upfront costs, in addition to the ongoing obligations, maintenance, and upkeep can be difficult. Especially for first-time home buyers who don’t have the benefit of being able to sell a home to help fund their down payment. For this reason, many millennial buyers who aspire to homeownership have decided it’s worth making a few sacrifices in order to help save money to buy a house. In fact, according to a recent survey from ValueInsured, there are some common sacrifices young Americans say they are willing to make in order to buy their first home. For example, nearly 60 p...
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