Buying A Home In The Fall

Buying A Home In The Fall

Thomas Gilliam Uncategorized Leave a Comment

A lot of people think the best time to buy a house is during the Spring market. And, it is……in the sense that more houses are listed for sale in the Spring. But, there’s also a heck of a lot more buyers trying to buy those listings. Buying a home in the fall has it’s advantages the the spring listings. The thing is, some of the houses listed back in the Spring don’t end up selling. (Usually just because they were overpriced.) Now, it isn’t like new listings don’t happen in the Fall. There’s always new listings coming on the market. But …

Don’t Fall for this real estate myth

Don’t Fall for this real estate myth

Thomas Gilliam Uncategorized Leave a Comment

Fall is here. Which means the “holiday season” is creeping up on us. Which, when you’re a real estate agent, inevitably brings questions about whether it makes sense to even list a house for sale, or start looking to buy a house at this point, or… “Should we wait ‘til Spring?” If that’s ever crossed your mind, you’re not alone. Lots of people think that way. But why? The most common reasons sellers give: there are less buyers looking. The most common reason buyers give: there aren’t as many houses for sale. Kind of a self-fulfilling prophecy…but, also kind of …

Farmington Hills Mortgage Rates Another 2017 Low

Farmington Hills Mortgage Rates Another 2017 Low

Thomas Gilliam Uncategorized Leave a Comment

A couple of weeks back, the ultimate authority on Farmington Hills mortgage rates hadn’t minced words. That was Freddie Mac, whose opinion about mortgage rates constitutes the final say in the matter. Freddie isn’t modest about its preeminence (Freddie’s trademarked corporate slogan is “We make home possible”). Together with sibling Fannie Mae, the quasi-governmental entities stand behind 60% of U.S. mortgages. Farmington Hills Mortgage Rates Register the Third Possibility Each week their PMMS survey collects data snapshots from thrifts, credit unions, banks, and mortgage lenders to gauge of the direction of the home loan market. Future Farmington Hills home hunters …

Farmington Hills Residents Encounter Equifax Hack

Farmington Hills Residents Encounter Equifax Hack

Thomas Gilliam Blog , Farmington Hills , Uncategorized Leave a Comment

When news of the Equifax hack first broke, the credit ratings giant scrambled to minimize fallout from this massive personal information breach. After an initial embarrassing misstep (they tried to have affected consumers sign off on Equifax’s liability), the company moved to ameliorate the hack by offering free ID protection to consumers. Equifax Hack Could Affect Farmington Hills Mortgage Applicants Farmington Hills homeowners and potential home buyers had reason to do more than shake their heads at yet another electronic pratfall. In one way or another, most Farmington Hills real estate transactions involve creditworthiness appraisals that are managed by the …

Have Roommates Pay Rent

Have Roommates Pay Rent

Thomas Gilliam Blog , Home Buying and Selling , Uncategorized Leave a Comment

Rent isn’t cheap. It’s tough to afford a place on your own. So, you have roommates. Maybe it’s a friend or two. Maybe more. But it certainly beats living “alone”…in your parent’s basement. But you’re still not banking money…Roommates can help! You’re saving some money by renting with others. But not tons. It certainly makes your housing costs more affordable, but it isn’t like you have so much extra every month to just go out and spend on whatever you want. So, it’s probably hard to even imagine saving enough to eventually buy a house. You figure that day will …

Should You Buy A Home In Your 20s?

Should You Buy A Home In Your 20s?

Thomas Gilliam Blog , Home Buying and Selling Leave a Comment

Should you buy a home in your 20s? Good question. There’s no single, sure-fire answer to it. Okay, there is…if you consider “it depends” to be a solid answer.  You can search the Internet and find as many reasons to buy a house in your 20s, as you can find to not buy a house in your 20s. But you have to consider the source of every article. (As I’m sure you do.) What’s the author’s motivation? All you’re really doing is confusing yourself, or convincing yourself what you already want to believe. So, the better question is… Do you …

Selling Your Farmington Hills Tenant-Occupied House

Selling Your Farmington Hills Tenant-Occupied House

Thomas Gilliam Uncategorized Leave a Comment

With a tenant-occupied house can be a daunting task to sell but even investors whose Farmington Hills rental homes have served long and well as income-producers can eventually decide it’s time. Given today’s tight housing inventories, the current market does stack up as one where selling your tenant-occupied house can be a timely financial move. But if that is under consideration, what should you do about the current tenant? Is it better to wait until the current lease expires—so that the vacated property can be shown without having to deal with an inconvenienced (and possibly miffed) tenant? Or will it …

Amid Hurricane News Blanketing Farmington Hills Media…

Amid Hurricane News Blanketing Farmington Hills Media…

Thomas Gilliam Blog , Farmington Hills , Uncategorized Leave a Comment

Last weekend’s regular Michigan news should have been promoting all the usual upbeat feature stories about the onset of football season, the start of a brand new school year, the finals of tennis’ last grand slam tournament and the like—but Farmington Hills readers would have gotten eye strain trying to find any of them. Instead, the dark clouds brought by Hurricane Irma and Harvey cast dense shadows across the region and the nation’s news. It was certain, too, that even after the terror of their actual passages had subsided, the fallout would continue to reverberate—expensively—for a very long time. A …

Why Sell Your Farmington Hills Home Now?

Why Sell Your Farmington Hills Home Now?

Thomas Gilliam Blog , Farmington Hills , Uncategorized Leave a Comment

“Give me one good reason why selling now is better than waiting until next spring,” is a perfectly legitimate request. It’s a challenge to the traditional peak of Farmington Hills’s selling season. Why should right now, at the start of September, be the right time to sell your Farmington Hills home? Statistics show that more homes are sold in the spring and summer, that—plus sheer inertia—can be powerful arguments to the contrary. So here’s the “one good reason.” In fact, it could be the best reason. It’s the textbook Economics 101 basic rule about markets and pricing. The Economics 101 …

Labor Day House Hunting Changes

Labor Day House Hunting Changes

Thomas Gilliam Blog , Farmington Hills , Uncategorized Leave a Comment

A while back, Forbes noted what they called “The Four Ways the Real Estate Market Changes” after Labor Day. The article recognized a truism that holds for most parts of Michigan—namely, that the period between Labor Day and Thanksgiving is what most of us think of as “fall.” It went on to describe four ways the change of seasons alters the house hunting landscape. Although I may not agree entirely with their broad brush proposition that a great number of house hunters throw in the towel after Labor Day, the four market changes described are often true enough. Farmington Hills …