homeownership month june

June Is National Homeownership Month. Here’s An Interesting Take On It

Thomas Gilliam Blog , homeownership minth , june , Oakland County Leave a Comment

Are you aware that June is National Homeownership month in Oakland County and around the Country? Probably not. Because you’re too busy working to afford the home you live in, whether you rent it or own it. Why should you care? If you poke around and read anything you can find about it, you’re being urged to recognize and celebrate the benefits of homeownership. That seems kind of a weird thing to ask you to do. Do you really have the time or care? What’re you supposed to do, throw a party? Sit alone and contemplate it? Invite some friends …

Home Prices Dollar Signs

Home Prices Still A Concern For Home Buyers And Sellers

Thomas Gilliam Blog , home prices , Oakland County Leave a Comment

Home prices in Oakland County are the top concern for both home buyers and sellers. After all, a lot of the calculus that goes into determining whether or not it’s a good time to sell or buy a house is based on where home values are and where they are expected to be in the future. For that reason, it’s good to follow the S&P Case-Shiller Home Price Indices, as they are considered the leading measure of U.S. home prices. According to the latest data, prices have continued to rise at around the same pace they’ve been increasing, with both …

Homes Value Sell

Existing Homes Value Are Up – It’s A Great Time To Sell

Thomas Gilliam Blog , equity gains , home prices , home sellers , Oakland County Leave a Comment

The Great Recession was one of the most challenging times in US history and in the Oakland County area. The US lost nearly 9 million jobs, unemployment nationwide hit an astounding 10%, and housing prices fell a whopping 33%, causing American households to lose of $16 trillion dollars in net worth also losing their homes value. After the housing crisis of 2008, many homeowners found themselves “upside down” on their properties, with their mortgage balances significantly higher than their homes value. According to Zillow, negative equity in the US peaked 31.4% in Q1 of 2012, meaning nearly one-third of all mortgage …

Oakland County Homeowners grip

Oakland County Homeowners Have a Better Grip on Home Values

Thomas Gilliam appraisal , Blog , Oakland County , oakland county homeowners Leave a Comment

Let’s face it, there are times when it is hard to get homeowners to understand what their home value really is, but today’s Oakland County homeowners are having a better understanding of their home values. The unexpected appraisal for Oakland County homeowners can be the difference between a satisfied home seller and an entire transaction going south, but these days Oakland County homeowners seems to have a better feel for what their property values are. Let’s break it down. Oakland County Homeowner Expectations The mortgage process is really all about verification and documentation, whether it is home buyers income, employment, …

Oakland County Remodeling Cost Delima-Solved

Thomas Gilliam Blog , Oakland County , remodeling cost , remodeling tips Leave a Comment

In this tight Oakland County Michigan housing market it is not easy to settle for something that does not need remodeling. The prospect of finding the perfect home that does not need some sort of work or remodeling or updates is daunting. Oakland County remodeling cost must be considered when deciding on a perfect property that fits most of your needs and wants. With the low inventories in today’s market the lowest in some time, makes it harder for what buyers demand, and that is a move-in ready home. Today’s busy schedules and tighter budgets mean that many home buyers …

Affordable Homes Map

Oakland County Affordable Homes Less Likely?

Thomas Gilliam affordable homes , Blog , Oakland County , starter homes Leave a Comment

Anywhere you go in Oakland County, Michigan there are parts of the County where homes seem to be more affordable than other in the area.  These more affordable homes are what we call “Starter Homes”. The more affordable homes attract young families due to being more affordable homes then those with higher square footage and a much higher price tag. These more affordable homes make for great neighborhoods that have a abundance of younger families just starting out with their first home purchase. Affordable Homes Tough Search Although the affordable homes are what seem to be plentiful in this market …

Mortgage Rate Increases Affect Oakland County Homebuyers dollars

Mortgage Rate Increases Affect Oakland County Homebuyers

Thomas Gilliam Blog , homebuyers , mortgage rate increases , Oakland County Leave a Comment

Mortgage rate increases have been seen an increase around the Oakland County, Michigan area and there is talk that they may even increase more before the end of the year. Many homebuyers have noticed the increase in home prices but mortgage rate increases are a little bit harder for homebuyers to calculate in the terms of what it will cost them in the long run. Understand Mortgage Rate Increases In order for homebuyers to understand how mortgage rate increases will affect them here is a little help. In this model a less than one percent mortgage rate increase would result …

Existing home sales rebound sign

Existing Home Sales Rebound In February

Thomas Gilliam Blog , home sales rebound , Oakland County , oakland county home sales rebound Leave a Comment

Historically low inventory and quick price growth stalled home sales in the US for a few months, but new data shows the home sales rebound and headed upward. According to the most recent Existing Home Sales Report from the National Association of Realtors®, the total existing home sales rebound (which they define as any completed transaction, including single-family homes, condos, townhouses, and co-ops) rising 3% in February, following two straight months of declines. The seasonally adjusted annual rate is now 5.54 million, which is up from 5.38 million on January and 1.1% higher than last year. Home Sales Rebound and Job Growth …

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, …

Oakland Counties Low Inventory house

Oakland Counties Low Inventory-Sellers Getting Top Dollar

Thomas Gilliam Blog , Farmington Hills , inventories , low inventory , Oakland County Leave a Comment

In this housing market today and Oakland Counties low inventory in places such as Farmington Hills, Novi, Northville, South Lyon to name a few home buyers are having a difficult time finding the perfect home.Usually the housing market corrects itself with supply and demand, but the prediction for 2018 is more of the same-Low Housing Inventory. Home Buyers in Oakland County Michigan shouldn’t wait or ponder on a decision once they find the perfect home with Oakland Counties low inventory and the prediction to continue for 2018. One of the biggest challenges facing buyers in today’s market is finding a home. …