Farmington Hills Michigan Appraised vs Assessed Prices home questions picture

Farmington Hills Michigan Appraised vs Assessed Prices

Thomas Gilliam assessment , Blog , Farmington Hills , farmington hills appraisel Leave a Comment

Appraised and assessed prices are regularly mistakened for each other. As a buyer or home seller, it is useful to understand how they differ. Details on Farmington Hills Michigan appraised vs assessed prices is provided below. What Are Assessed Prices Localities require a property tax on residential real estate. The sum is derived from the tax rate multiplied by an assessed value of the real estate. Assessments are used only for measuring taxes and do not necessarily coincide with the market value. Every municipality formulates assessed value differently. They usually look at land area, interior features, and exterior features such …

Farmington Hills Michigan Homeowner Tax Advice

Farmington Hills Michigan Homeowner Tax Advice

Thomas Gilliam Blog , Farmington Hills , home owner , taxes Leave a Comment

The tax deadline is right around the corner! Do not miss out on money saving tax benefits of real estate ownership. The Farmington Hills Michigan homeowner tax advice in this blog may help with your tax returns. Look for the 1098 Form from Your Mortgage Company Interest paid on primary mortgages, second mortgages, home equity loans, and home renovation loans are often tax deductible. You will receive a mortgage statement, a Form 1098, from each mortgage company. It will detail amounts paid during the 2016 year. It may also reference amounts paid for mortgage insurance, which might be deductible if …

Farmington Hills Michigan Home Equity Loan Options

Farmington Hills Michigan Home Equity Loan Options

Thomas Gilliam Blog , Farmington Hills , home equity , Uncategorized Leave a Comment

There are a few different types of home equity loans. Some may be a better alternative than others based on your situation, interest rates, and the reason for your home equity loan. The Farmington Hills Michigan home equity loan options detailed in this article may help you understand your options. Home Equity Loan Types Cash-out Refinance A cash-out refinance pays off your first loan and creates a new one. The new loan includes the amount of the old loan, the extra funds you are taking out and applicable settlement costs. Because you are replacing the old mortgage, rather than taking …

Farmington Hills Michigan Fall Real Estate Market

Farmington Hills Michigan Fall Real Estate Market

Seasonal Changes Fall historically is an active time of year in the Farmington Hills Michigan Fall Real Estate Market. Home buyers look to finalize their home purchase prior to the winter months, the busy holidays, and end of year (for tax benefits). Mortgage rates are also at historic lows, making home purchases more affordable. This fall, some areas are faced with a shortage of inventory. This can be due to fewer foreclosures listed for sale, sellers waiting for values to increase, or owners incorrectly thinking that real estate is not selling. Whatever the cause, it is leading to less inventory …

thankful thanksgiving

Why I’m Particularly Thankful This Thanksgiving

Thomas Gilliam agent , Blog , Farmington Hills , thankful , thanksgiving Leave a Comment

I’m truly thankful for the trust, confidence and the real estate business my clients have entrusted in me throughout this year in Farmington Hills Michigan and the surrounding areas. It seems saying thanks would be enough, but sometimes it seems lacking in some ways as it is a word people use very often, especially in the real estate profession. In this blog post I wanted to share the many ways that I’m thankful and blessed to have been your realtor of choice this last year, and hopefully the coming year to some your friends and family as well. I hope …

selling your home in Farmington Hills Michigan as-is

Selling your home in Farmington Hills Michigan as-is

Thomas Gilliam as is , Blog , farmington hills , Farmington Hills , selling Leave a Comment

If you have viewed properties for sale recently, you have probably come across the term as-is. Homeowners may prefer to sell as-is, but it is important to learn how a potential might react to it. Here is important information on selling your home in Farmington Hills Michigan as-is. Understanding What the Term As-Is Means As-is means that a home will be sold in its current state. This covers any problems that may exist, whether they are obvious or not. Buyers must perform an inspection to better assess any problems before finalizing the sale. Based on previous cases involving as-is clauses, …

Hardball Fouls in Farmington Hills Home Selling Negotiations

Farmington Hills Home Selling Negotiations-Hardball

Thomas Gilliam Blog , Farmington Hills , Uncategorized Leave a Comment

When it comes to appraising and developing appropriate responses to offers on your Farmington Hills home, I’m there to offer counsel and guidance. Even so, you are the ultimate decision maker. Especially for Farmington Hills homeowners without previous selling experience, becoming familiar with some practical pointers for home selling negotiations is well worth doing. Farmington Hills sellers can find one rich source at the National Association of Realtors® web site. This month’s World Series finale undoubtedly inspired the title for a list of home selling negotiation pitfalls. Published the morning of Houston’s Game 7 victory, it dealt with errors in …

home values farmington hills

Farmington Hills Homeowners Gain from Home Values

Thomas Gilliam Blog , Farmington Hills Leave a Comment

Poll Finds Surge in U.S. Home Values Optimism More than half of U.S. homeowners expect their home values to rise in the coming year. For Farmington Hills real estate watchers who track public sentiment as a market indicator, the news comes as a welcome addition to other reports of rising consumer optimism regarding the economy as a whole. The finding comes from a national telephone and online survey conducted earlier this month by the Rasmussen Reports organization. It signals an acceleration in a year-long trend of rising expectations among U.S. homeowners. A year earlier, fewer than 40% had predicted that …

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 …

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 …