How is The Coronavirus Shaking Up the Housing Market? 

Thomas Gilliam buying a home in oakland county michigan , Home Buying and Selling , housing trends , Interest rates Leave a Comment

How is The Coronavirus Shaking Up the Housing Market?  – Mortgage rates have plummeted since the beginning of the year as a result of market movements in response to the coronavirus. In the most drastic actions since the 2008 financial crisis, the Federal Reserve, a.k.a. the Fed, cut its benchmark interest rate to near zero. The Fed doesn’t actually set mortgage rates; It determines the federal funds rate, which generally impacts short-term and variable (adjustable) interest rates.  This is the rate at which banks and other financial institutions lend money to one another overnight to meet mandated reserve levels. The Fed …

Oakland County MI Homes for Sale

Why Homebuyers Need A Qualified Oakland County MI REALTOR®

Thomas Gilliam Blog , buying a home in oakland county michigan , Oakland County , oakland county homes for sale , Uncategorized Leave a Comment

A qualified Oakland County MI REALTOR® holds the key to uncovering the most valuable properties, negotiating the best terms and price and facilitating a smooth and successful transaction. Tom Gilliam is a top producing real estate agent in Oakland County MI with over 20 years of experience assisting buyers and sellers with their real estate goals. Whether you’re looking to upsize, downsize or planning to relocate to Oakland County from another part of the metro Detroit area or beyond, you will need to a qualified agent who can help you navigate the local market and find the perfect home for …

South Lyon MI homes for sale

Why South Lyon MI Homes for Sale Deserve Consideration

Thomas Gilliam Blog , buying a home in oakland county michigan , Buying A Home in South Lyon MI , South Lyon MI Homes for Sale Leave a Comment

If you are currently seeking a tight-knit, family-friendly community offering a small-town vibe for your next home, South Lyon MI homes for sale deserve consideration. The quaint city of South Lyon is located in the southwest corner of Oakland County, Michigan and is home to approximately 11,408 people. Situated near the crossroads of Interstate 96 and US 23, South Lyon is just 19 miles north of Ann Arbor, 45 miles west of Detroit and 58 miles east of Lansing, the capital of Michigan. At just 3.5 square miles in size, the city is known for its historic and charming downtown, annual …

Biuying Yoout Farmington Hills Home Money

Buying Your Farmington Hills Home-How Much To Borrow

Thomas Gilliam Blog , buying a home , buying a home in oakland county michigan , Farmington Hills , Mortgage , Uncategorized Leave a Comment

The “rule of thumb” regarding loans is that your monthly housing payment such as the taxes, bills, insurance, mortgage, etc., should not be more than 28% of your income that you receive every month. When it comes to FHA loans, the balance of ration might be higher. The question that remains is, “How much do I need to borrow when buying your Farmington Hills Home?” Here’s what you should focus on: it all comes down to “down payment”. The higher the amount you have saved, the easier it will be to get a mortgage loan for your Farmington Hills home. …

home biying Experience keys

Great Home Buying Experience-How to Have One

Thomas Gilliam Blog , buying a home in oakland county michigan , home search , Oakland County Leave a Comment

One of the biggest hurdles in the home buying experience is the approval of mortgage. However, many buyers set their heart on a house that does not fall under their budget. Today, while the inventory is quite stable, multiple offers are on the rise. You have to compete with other buyers to come out at the top. From loan programs to repairs, home inspection and other costs, you need to plan for everything in advance so that no surprises face you in the future. It’s important for you to take notice of everything the seller says in the first meeting …

Winter Energy Audit Farmington Hills

Energy Audit – 4 Things to Check For Your Winter Home Sale

Thomas Gilliam assessment , Blog , buying a home in oakland county michigan , Farmington Hills , farmington hills homes , Uncategorized , winter audit Leave a Comment

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 …

Home Searching Oakland County Michigan

Home Searching – Online vs. In Person Visits

Thomas Gilliam Blog , buyers , buying a home , buying a home in oakland county michigan , listings , Oakland County Leave a Comment

Looking at Homes in Person When home searching you might have heard real estate horror stories where houses put up for sale online turned out to be riddled with all sorts of problems when buyers actually visited them. Considering the competitive nature of the market, most sellers today offer buyers the opportunity to tour their houses virtually. A professional blueprint of the house is made and you can have a satellite view of the house, the rooms and even see the minutest details such as the arrangement of bed sets and furniture. If you are scouring the market for your …

3 Questions before Buying a House

Buying a House-Ask Yourself These 3 Questions First

Thomas Gilliam american dream , buying a home in oakland county michigan , buying a homes , Mortgage Leave a Comment

Buying a house is everyone’s favorite “American Dream”. People save for years, so that they can live comfortably and secure their future. Today, the real estate market is quite unpredictable. The demand is on high and the supply is less. Sellers are facing too much competition and are taking different tactics to market houses. The current real estate trend requires you to do your homework before browsing the market. Jumping the gun will cost you extra and unbiased advice from friends and family. This might force you to take the wrong decision, which is why it is important to proceed …