New Homes On The Way In Oakland County underway

New Homes On The Way In Oakland County

Thomas Gilliam Blog , new construction , new homes , Oakland County Leave a Comment

It is clear in Oakland County, Michigan inventory is scarce and the need for new homes could be the cure. We have seen the inventory of homes for sale in Oakland County, Michigan drop 28.7 percent from 5,575 on the market to 3,976 in the last few months. The numbers show that inventories are fading, but prices are increasing with many areas are now above their pre “Great Recession” (2007) prices, but the issue still is inventory for many home buyers and with home sellers wondering if they will find something to purchase. New Homes Underway On the brighter side, …

Neighborhood Feature Buyers Want In Oakland County Tree lined Street

Neighborhood Feature Buyers Want In Oakland County

Thomas Gilliam Blog , community , home buyers , neighborhood , neighborhood most wanted , oakland county Leave a Comment

The neighborhood in which home buyers prefer in Oakland County is diverse and has much to do with the age of the buyer. The most important aspect of the Oakland County home buyers is the feeling of community and a feeling of belonging that appeals to all ages, especially millennial home buyers. In Oakland County we have many such neighborhoods where the community is tight-nit and the sense of belonging to part of the neighborhood is important and respected. For the millenial home buyers it is vital that they have nearby shopping, gyms and outdoor activities where they feel they …

Homeowner Equity Continues To Increase In Oakland County dollar sign

Home Equity Continues To Increase In Oakland County

Thomas Gilliam Blog , equity , home prices , oakland county Leave a Comment

When you buy a house in Oakland County, you’re not just purchasing a place to live,you’re also making an investment in the real estate market. Which means, as your home’s value grows, so does your equity. Equity, of course, refers to the amount a property is worth minus the amount still owed on the mortgage. Put simply, if your equity is growing, that’s good news for Oakland County homeowners. Which is why new numbers from the Board of Governors of the Federal Reserve System are encouraging. That’s because they show homeowner equity on the rise. In fact, the total value …

Income Has Risen But Will It Lead To Home Sales?

Income Has Risen But Will It Lead To Home Sales?

Thomas Gilliam Blog , buyer market , income increase , seller market , tax plan Leave a Comment

In this early spring market across the county especially here in Oakland County Michigan inventory seems to be a major issue in home sales and in the housing market in general. It seems that with the new tax law will add more income to home buyers and sellers, but as of yet shown in the housing market. It seems there is still uncertainty with home buyers and home sellers along with rising interest rates that is plaguing or areas and others. As a Realtor for the last 17 years I really haven’t experienced anything quite like what is going on …

The Top Sacrifices Millennial Buyers Say They'll Make steak potatoes

The Top Sacrifices Millennial Buyers Say They’ll Make

Thomas Gilliam Blog , down payment , home buying , millennials Leave a Comment

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 …

Credit Behaviors – Advice For Potential Farmington Hills Home Buyers

Credit behaviors and credit ratings are generated by three major credit agencies (Experian, Equifax, and Transunion). They all use a differing formulas to generate a numerical rating that reflects your credit risk. The higher the number, the better the credit rating. Certain things may have a adverse effect on your score and could possibly result in you getting turned down for a mortgage. Below are advice for potential Farmington Hills home buyers on credit behaviors that impact the ability to get a loan. Credit Behaviors That Impact The Ability To Get A Loan Tardy Payments Missing payments demonstrate poor credit …

Home Improvement advice

Nearly 60% Of Homeowners Plan Home Improvement (s)

Thomas Gilliam Blog , home improvement , home updates , remodeling Leave a Comment

If you’re a homeowner, you know the to-do list is never ending. And, if you’re a buyer, you’ll know soon enough. That’s because, owning a home means maintaining a home. Proof of that can be seen in the fifth annual LightStream Home Improvement Survey. According to the results, 58 percent of surveyed homeowners say they’re planning to spend money on home improvement projects in 2018. And the number who said they plan on spending $35,000 or more has doubled from last year. But though there are more homeowners planning projects this year, the list of projects hasn’t changed all that …

Think FSBO Sellers Route Will Save You Money?

Many folks are tempted to take the FSBO Sellers route believing they’ll save a bundle by not paying an agent’s commission. They may imagine it’s a simple as sticking a sign in the ground and watching a qualified buyer magically appear. While that may happen occasionally, the vast majority of that time it doesn’t work like that. At all. FSBO Sellers Pricing It Right Coming up with the right asking price requires doing your due diligence. Researching what comparable homes in the area recently sold for is key. You may also want to hire an appraiser to be sure you’re …

expand the search suburbs

Buyers Expand The Search For Affordable Homes

Thomas Gilliam Blog , home buyers , house hunting , inventory , oakland county , suburbs Leave a Comment

Frustration for today’s home buyers could not be more higher with home prices increasing and record low inventory to choose from in all of Oakland County and the metro Detroit area as a whole. The number of buyers that have expanded their search to find affordable homes outside the normal suburbs have increased substantially in the new quarter of 2018. Although the average buyer would find a new home close to work and family, this has become daunting and unattainable for many. Home buyers have had to expand the search for affordable homes to the suburbs and beyond in attempts …