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Buying A Home in Farmington Hills MI? Guide To Homeowner’s Insurance  

Buying A Home in Farmington Hills MI? Guide To Homeowner’s Insurance  

by | Sep 7, 2020 | buying a home, Buying a Home in Farmington Hills MI, First-time Home Buyers, Home Buying Tips, Homeowners Insurance

Buying A Home in Farmington Hills MI? Guide To Homeowners Insurance – If you are planning on buying a home in Farmington Hills MI, and taking out a mortgage to pay for that home, homeowners insurance is a necessity. Although homeowner’s insurance coverage isn’t required by law, homebuyers looking to finance their purchase will quickly learn that your bank or mortgage company will most likely require you to get homeowner’s insurance coverage. 

Lenders need to protect their investment 

Lenders need to protect their investment in the unfortunate event that your house burns down or is badly damaged by a hurricane, tornado, or another disaster. Typical homeowners insurance policies offer coverage for damage caused by fires, lightning strikes, windstorms, and hail. 

It’s important to note that not all natural disasters are covered by homeowner’s insurance. For example, damage caused by earthquakes and floods is not typically covered by home insurance. If you live in an area that is likely to flood, the bank or mortgage company may require you to purchase additional flood insurance.  

Home insurance safeguards the lender and you against financial loss 

Homeowner’s insurance provides financial relief if a covered event damages your home, property, or personal belongings. It can also cover personal liability if you are held legally responsible for damage or injury to someone else.

Most mortgage companies will require you to have insurance coverage for the full or fair value of a property (usually the purchase price) and won’t finance a residential real estate transaction without proof of insurance. 

Home insurance policies typically include six types of coverage: 

Coverage type What it does Typical amount
Dwelling Covers damage to the home and attached structures, such as a porch. Enough to rebuild your home.
Other structures Covers stand-alone structures on your property, such as a fence or shed. 10% of dwelling coverage.
Personal property Pays to repair or replace belongings that are stolen or damaged in a covered event. 50% to 70% of dwelling coverage.
Additional living expenses Helps pay temporary living expenses while your home is being repaired. 20% of dwelling coverage.
Liability Pays if you injure someone or cause property damage unintentionally or through neglect. $100,000 to $500,000.
Medical payments Pays to treat someone injured on your property, regardless of who’s at fault. Also pays if you, a family member, or a pet injures someone elsewhere. $1,000 to $5,000.

Policy rates are largely determined by the insurer’s risk that you will file a claim 

They assess this risk based on past claim history associated with the home, the neighborhood, and the home’s condition. Insurers typically consider the following items to determine your home insurance price:

  • What it would cost to rebuild your home 
  • Your home’s age, condition, and other characteristics 
  • Distance from your home to the nearest fire hydrant 
  • Your city’s fire protection rating 
  • Your claims history and the claims history of others in your neighborhood 
  • Your coverages, limits, and deductible 
  • Items that pose, major injury risks, such as pools or trampolines 

Coverage is subject to a limit and deductibles 

Keep in mind that each coverage in a homeowners insurance policy is subject to a limit – or the maximum amount your policy would pay toward a covered loss. In most cases, you will have to pay your deductible before your insurance benefits kick in to help cover a loss. You can typically adjust your coverage limits and deductibles to fit your needs.

Once you pay off your mortgage  

No one will force you to buy homeowner’s insurance one your mortgage is paid off. However,  since your home may be your largest asset, home insurance is almost always a smart purchase –  giving you both property and liability coverage.  

Partner With the Best Farmington Hills MI REALTOR® – Tom Gilliam

2020 Best of Farmington Hills REALTOR - Tom GilliamWhether you are interested in buying a home in Farmington Hills, MI, or its time to list your current property, experience matters most in a changing market.

With over 20 years of local experience, Farmington Hills REALTOR® – Tom Gilliam is very familiar with the Farmington Hils market with access to the most up-to-date listings. Known for his professionalism and care for every detail, Tom is an expert at uncovering the perfect home for his clients’ lifestyle needs. 

Search Farmington Hill MI homes for sale

For sellers, Tom will create a marketing strategy that exposes your home to the public as well as to other real estate agents through the Multiple Listing Service (MLS), other cooperative marketing networks, open houses for agents, and so on.

Your listing will appear on all the most popular real estate sites where buyers spend hours a day looking at homes such as Realtor.com, Zillow, Trulia, REMAX, Redfin, and dozens of others. Your home will also be featured on Tom’s own highly-trafficked website Homes2moveyou.com.

You can be assured that Tom is fully committed to getting your home sold quickly for the best price. Tom works extremely hard for his clients and provides the kind of personalized service you need when buying or selling a home.

As your personal agent, Tom will protect your interests, advocate for you, and be your trusted guide and advisor throughout the home buying or selling process. If you or someone you know is interested in real estate in Farmington Hills MI, please give Tom Gilliam a call at (248) 790-5594 or you can reach him here.

Tom Gilliam, REALTOR®
RE/MAX Classic 
29630 Orchard Lake Rd.
Farmington Hills 48334
Direct: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578

Buying a Home in Oakland County, MI? Low and No Down Payment Mortgage Options

Buying a Home in Oakland County, MI? Low and No Down Payment Mortgage Options

by | Jul 10, 2020 | Blog, buying a home, down payment, first time home buyers

Buying a Home in Oakland County, MI? Low and No-Down-Payment Mortgage Options – You don’t have to be a first-time homebuyer in order to qualify for a low or no down payment mortgage. Some low down payment loans assist buyers in economically disadvantaged areas. VA loans cater to borrowers with military connections and USDA loans are for buyers in rural and suburban areas. Some conventional loans like the Home Possible®loan and the HomeReady™ mortgage have income limits rather than first-time homebuyer requirements. 

A no-down-payment mortgage allows first-time home buyers, and repeat buyers, to purchase a home with no money required at closing except standard closing costs. USDA and VA government-backed loans allow you to purchase a home with zero down. The fact that these loans are backed by the federal government allows lenders to be more lenient with down payment requirements. To qualify for a USDA loan, you and your home must meet USDA loan standards, and to qualify for a VA loan, you must meet service standards.  

If you don’t meet the qualifications for either a USDA loan or a VA loan requiring no down downpayment, you may want to get a low down payment government-backed FHA loan or a conventional mortgage. You can get an FHA loan with as little as 3.5% down. Backed by the Federal Housing Administration, these loans are for people with low to moderate-income levels and have fewer requirements than USDA and VA loans. 

USDA Rural Housing Loans 

The USDA Rural Housing Loan is available to buyers in suburban neighborhoods as well as rural neighborhoods. The USDA’s goal is to reach low-to-moderate income homebuyers wherever they may be. Going one step further in helping prospective homebuyers, the USDA issues mortgages to applicants deemed to have the greatest need. That means an individual or family that is without “decent, safe, and sanitary housing, unable to secure a home loan from traditional sources and has an adjusted income at or below the low-income limit for the area where they live.

The USDA usually issues direct loans for homes of 2,000 square feet or less, with a market value below the area loan limit. Many borrowers using the USDA Single Family Housing Guaranteed Loan Program make a good living and reside in neighborhoods that don’t meet the traditional definition of rural.

VA Loans

A VA loan is a $0 down mortgage option issued by private lenders and partially backed, or guaranteed, by the Department of Veterans Affairs (VA). Eligible borrowers can use a VA loan to purchase a property as their primary residence or refinance an existing mortgage. With a VA loan, eligible homebuyers are not required to have a down payment in most cases.

There is also no monthly mortgage insurance premium to pay. The combination of no down payment and no mortgage insurance can save homebuyers, who qualify for a VA loan, a significant amount of money. VA loans continue to have the lowest average interest rates of all loan types and VA buyers can pay off a loan early without any financial penalties. 

FHA Loans

In order to qualify for an FHA loan, you must plan to live at the property you are purchasing as your primary residence. You must also buy a home that meets livability standards and move in within 60 days of closing. With a down payment of less than 10%, you are also required to pay mortgage insurance throughout the life of the loan. FHA loans are a great option for people with a low down payment and are also a viable option for those with a low credit score.

In order to get an FHA loan combined with a lower down payment, you will need a credit score of at least 580. If your credit score is lower than 580, you’ll have to make up for it with a larger down payment. You may even be able to get a loan with a credit score as low as 500 points if you can bring a 10% down payment to closing.  

Conventional Loans  

In today’s market, conventional loans account for more than half of all mortgage loans made. By contrast, conventional loans are not backed by the government. Conventional loans are backed by Fannie Mae and Freddie Mac, and these two agencies exist solely to help banks make mortgage loans. They offer no mortgage insurance to lenders, leaving that task to private mortgage insurance (PMI) companies.

If you have low to moderate-income compared to others in your area, you may want to consider a Home Possible®loan from Freddie Mac. With this loan type, you are allowed to purchase a home with a 3% down payment and lower mortgage insurance options. In order to qualify, you can’t earn more than 100% of the median income in your area.

Another 3% down payment option is the HomeReady™ mortgage backed by Fannie Mae. This loan type offers below-market mortgage rates, reduced mortgage insurance costs,  and the income of everybody living in the home can be used to get mortgage-qualified and approved.

The good news is that there is a bevy of mortgage programs requiring little or no money down and they are available to the general public. Want to buy a home in Oakland County, MI with little or no money down? Give top-rated Oakland County MI REALTOR – Tom Gilliam a call today!

Partner with Top-rated Oakland County MI REALTOR® -Tom Gilliam 

A top-rated Oakland County MI real estate agent like Tom Gilliam can show you more properties and save you thousands of dollars when buying a home. You need an agent who knows the area, processes a vast network of local connections, and has the skills to negotiate like a pro. From first-time homebuyers to multi-million dollar investors, Tom continually strives to provide top quality service for his clients. With access to the most up-to-date MLS listings for Oakland county MI properties, Tom is able to match your lifestyle needs with the perfect home.

If you are ready to list your current property, Tom has the experience and skills necessary to handle the sale and marketing of your home for the optimum results. Tom employs the latest technology to deliver massive exposure that will drive mega-response from qualified buyers. Tom also partners with the most talented home stagers to ensure that your home is thoughtfully staged to highlight its features and amenities.

Offering over 25 years of local real estate experience, Tom will protect your interests, advocate for you, and go the extra mile to ensure a smooth and successful transaction. If you or someone you know is interested in buying or selling real estate in Oakland County, MI, please give Tom a call today at 248-790-5594 or you can get in touch here.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Call: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578

NAR’s 5-Point Plan To Help Increase African-American Homeownership

NAR’s 5-Point Plan To Help Increase African-American Homeownership

by | Jun 21, 2020 | 2020 Market Trends, buying a home, first time home buyers, Homeownership Statistics

NAR’s 5-Point Plan To Help Increase African-American Homeownership – Even with the COVID-19 pandemic, interest in home buying is strong as reflected in the surge in mortgage applications to buy a home. According to the Mortgage Bankers Association, mortgage applications to buy a home spiked 4% last week to an 11-year high. 

The jump in demand was likely fueled by falling mortgage rates. The fixed 30-year rate fell to 3.3%, the lowest in the MBA survey’s history. That being said, however, there isn’t enough supply to meet demand and significant growth in new home construction is needed.

Before the pandemic hit, the U.S. faced a housing shortage due to multiple years of underproduction of new homes. The housing shortage has intensified as we enter into the second half of 2020.

As a result, home prices are likely to rise, making ownership opportunities for first-time buyers, including minorities, that much more challenging. More homes need to built to offset demand and keep home prices from escalating.   

The homeownership rate for African-American households is now at 44% – compared with an overall U.S. rate of 65.3%. A year ago, it fell to 40.6%, which was the smallest share recorded for Black households since the 1950 decennial Census when it was at 34.5%.

With much of the nation’s attention currently focused on fighting for racial equality, particularly as it relates to African-Americans, the following five-point plan outlined by the National Association of REALTORs® would increase the number of Black homeowners. 

NAR Chief Economist Lawrence Yun stated that “given the events of the recent weeks, it highlighted the progress, or lack of progress, among the African-American community,” adding that the access to homeownership is a critical source for building financial wealth. 

NAR’s five-point plan to help increase minority homeownership, especially for African Americans, includes: 

1). Build more homes to increase supply: The lack of housing supply makes converting from renting to owning very difficult. The lack of viable purchase options and resulting competition rapidly push up home prices, precluding some potential first-time buyers from entering the market. 

Yun stated that since the pool of potential first-time buyers is higher in the minority population if the industry can increase supply, it could help minority households lock in a home. 

2). Build more homes in Opportunity Zones:  NAR strongly supports Opportunity Zones as a means by which to invest in the revitalization of economically-distressed areas. Yun posed the question: “Since the industry needs to build so many homes, why not build or sell homes in the Opportunity Zones to help revive some of those areas?”

He added that there is even a tax break in certain geographically defined opportunity zones for developers to go in and build homes, helping the revitalization of economically-distressed areas. 

3). Increase access to down payment assistance: Saving for a down payment can be the biggest hurdle for renters wanting to become homeowners. In recent years, a growing number of first-time buyers received help from family members with their down payments. 

However, due to historical gaps in accessing and accumulating wealth, it’s much more difficult for African-Americans to obtain substantial financial assistance from family members. Therefore, increased access to federal down payment assistance based on a certain income threshold is vital, particularly for African-Americans. 

4). Strengthen FHA’s loan program: FHA loans have been an important source of financing for first-time buyers and minority households. Shifting federal dollars to strengthen the FHA program could lower mortgage insurance premiums and monthly mortgage payments. 

Yun explained that many minority households are able to become first-time buyers primarily due to FHA mortgages, making the product an important source of financing. 

5). Expand alternative credit scoring models: NAR outlined that expanding credit scoring models to include rent and utility payments would help Black Americans boost their credit score. Yun also shared an estimate from the National Association of Real Estate Brokers that alternative credit scoring would open up buying to around 115,000 Black Americans per year.

Yun added that the industry needs to make sure that it doesn’t make the same mistakes it did in the past, especially 10 years ago with the subprime lending debacle.

The homeownership rate for African-American households fell more than seven percentage points from 47.8% at the start of the financial crisis to last summer’s record low after some predatory lenders focused on minority communities.

“We need to ensure successful homeownership, not just temporary homeownership,” said Yun.

Partner with Top-rated Farmington Hills MI REALTOR® -Tom Gilliam  

A top-rated Farmington Hills and Oakland County MI real estate agent like Tom Gilliam can show you more properties and save you thousands of dollars when buying a home. You need an agent who knows the area, processes a vast network of local connections, and has the skills to negotiate like a pro. From first-time homebuyers to multi-million dollar investors, Tom continually strives to provide top quality service for his clients. With access to the most up-to-date MLS listings for Oakland county MI properties, Tom is able to match your lifestyle needs with the perfect home.

If you are ready to list your current property, Tom has the experience and skills necessary to handle the sale and marketing of your home for the optimum results. Tom employs the latest technology to deliver massive exposure that will drive mega-response from qualified buyers. Tom also partners with the most talented home stagers to ensure that your home is thoughtfully staged to best showcase its features and amenities.

With over 25 years of local real estate experience, Tom will protect your interests, advocate for you, and go above and beyond your expectations to ensure a smooth and successful transaction. If you or someone you know is interested in buying or selling Farmington Hills MI real estate, please give Tom a call today at 248-790-5594 or you can get in touch here.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Call: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578

ABOUT THE AUTHOR
Tom Gilliam
If you are looking to buy or sell a home in Farmington Hills, Michigan and surrounding Oakland County, you need to find a Realtor who knows the community.
7 Good Reasons To Consider Buying a Home in Farmington Hills MI

7 Good Reasons To Consider Buying a Home in Farmington Hills MI

by | Jun 16, 2020 | buying a home, buying in farmington hills, first time home buyers

7 Good Reasons To Consider Buying a Home in Farmington Hills MI – If you are like most first-time home buyers, you may have mixed feelings about purchasing a house. Having reservations is normal. You may be worrying about getting tied down and taking on a lot of debt. However, the more you know about the benefits of buying a home, the less intimidating the entire process will seem.  

Here are 7 good reasons why you should consider buying a home in Farmington Hills MI if you can afford it:  

1). Pride of Ownership

The number one reason why most people want to own their own home is the pride of ownership. Buying your first house is a major accomplishment and an important life milestone. In a recent survey conducted by the National Association of Realtors, buyers ranked “desire to own my own home” as their primary reason for buying a house. 

You’ll have the stability and emotional security of owning your own home. No more worrying about rent increases, negligent or bossy landlords, or the possibility your building will be sold and turned into a condo.

You’ll be able to live in your house as long as you like, fix your monthly payments for as long as 30 years and you’ll be in charge.

Homeownership also gives you the freedom to paint the walls any color that tickles your fancy, decorate any way you desire, and choose the types of upgrades and new amenities that appeal to your individual lifestyle. 

2). Roots Within A Community

When you buy a house, you’re not just another tenant swinging through a rental property’s revolving door. Buying a home gives you roots. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community.

It also offers children the benefit of educational and social continuity. An ongoing 80-year study by Harvard proves a sense of community is essential to living a long and healthy life, all the more reason to stay awhile.  

3). Appreciation

Historically, real estate has had a long-term, stable growth in value. Real estate moves in cycles – sometimes up, sometimes down. Yet over the years, real estate has consistently appreciated. 

In fact, median single-family existing-home sale prices have increased on average 5.2 % annually from 1972 through 2014, according to the National Association of REALTORS®. Even in the most recent 10 years, which included a few very bad years for housing, values are still up 7.0% on a cumulative basis. 

4). Property Tax Deductions

You can deduct the interest you pay on your mortgage from your taxable income. The value of this tax break depends on factors like your personal tax bracket, the size of your mortgage, the rate of interest you pay on it, and how long you’ve held the mortgage.

As a rule, the newer the mortgage, the greater the amount of interest you pay each month, and the bigger the tax break. Recent buyers with young mortgages tend to get the greatest benefit. IRS Publication 530 contains tax information for first-time homebuyers.  

5). Capital Gain Exclusion

Building equity in your home is a ready-made savings plan. When you sell your home, the capital gains on the sale are exempt from capital gains tax.

Based on the Taxpayer Relief Act of 1997, if you are single, you will pay no capital gains tax on the first $250,000 you make when you sell your home. Married couples enjoy a $500,000 exemption as long as you have lived in your home for two of the past five years.

You don’t have to buy a replacement home or move up.   

6). Mortgage Reduction Builds Equity

Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home. With each mortgage payment, you pay down your debt and accumulate equity in your house. 

Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The principal portion of your principal and interest payment increases slightly every month. It is the lowest on your first payment and highest on your last payment.   

7). Home Equity Loans

You’ll be able to use the equity in your home for low-cost loans for other purposes. You can access the paid-up equity you accumulate in your home in the form of a home equity loan or a home equity line of credit.

Because they are secured, home equity loans and lines of credit generally carry a lower interest rate than other types of consumer loans, such as auto loans. Consumers can borrow against a home’s equity for a variety of reasons such as home improvement, college, medical, or starting a new business. Some state laws, however, restrict home equity loans.

The Takeaway

Yes, buying a home in Farmington Hills MI is a major commitment, but the financial and lifestyle benefits are well worth the cost. If you can afford to buy now, you’ll thank yourself in the long run, and whenever your friends get their annual rent increases.

Partner with Top-rated Farmington Hills MI REALTOR® -Tom Gilliam  

A top-rated Farmington Hills and Oakland County MI real estate agent like Tom Gilliam can show you more properties and save you thousands of dollars when buying a home. You need an agent who knows the area, processes a vast network of local connections, and has the skills to negotiate like a pro.

From first-time homebuyers to multi-million dollar investors, Tom continually strives to provide top quality service for his clients. With access to the most up-to-date MLS listings for Oakland county MI properties, Tom is able to match your lifestyle needs with the perfect home.

If you are ready to list your current property, Tom has the experience and skills necessary to handle the sale and marketing of your home for the optimum results. Tom employs the latest technology to deliver massive exposure that will drive mega-response from qualified buyers.

Tom also partners with the most talented home stagers to ensure that your home is thoughtfully staged to best showcase its features and amenities. With over 25 years of local real estate experience, Tom will protect your interests, advocate for you, and go above and beyond your expectations to ensure a smooth and successful transaction.

If you or someone you know is interested in buying or selling Farmington Hills MI real estate, please give Tom a call today at 248-790-5594 or you can get in touch here.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Call: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578

Has The COVID-19 Pandemic Made Homebuyers More Eager to Buy? 

Has The COVID-19 Pandemic Made Homebuyers More Eager to Buy? 

by | Jun 11, 2020 | Blog, buying a home, Coronavirus, Covid-19

Has COVID-19 Made Homebuyers More Eager to Buy? The coronavirus pandemic doesn’t seem to be scaring off U.S. home buyers.  According to a recent survey done by LendingTree, more than half (53%) of 1006 prospective homebuyers surveyed said they were more likely to buy a home within the next 12 months. 

The survey showed that first-time homebuyers (73%) and millennials (66%) may be the most eager to buy within the next year. Motivating factors were the ability to save a larger down payment because of reduced spending (32%) and taking advantage of record-low mortgage rates (67%). 

In a recent study from OJO Labs, 200 homebuyers were surveyed who had planned to purchase a house within six months before the COVID-19 outbreak. 45.6% of shoppers said they are motivated to expedite their moving timeline because they think they’ll get a good deal on a home, while low-interest rates are a major factor for 56.5%.   

The study also revealed that as more homebuyers are stuck at home, more are realizing they need space to fit their needs. First-time homebuyers said that extra bedrooms (43.5%) and an open floor plan (45.7%) are more important than before COVID-19.

According to those surveyed by Lending Tree, nearly two-thirds (65%) of homebuyers said the pandemic had impacted how much money they plan to spend on a new home. Among the group, 44% plan to buy a less expensive home and the remaining 21% want a more expensive home.  

Both reports indicated that the perception of reduced home prices (30%), low mortgage rates, and being confined in a smaller space during stay-at-home orders made homeownership more appealing. 

Virtual Tours Have Come Out of The Woodwork

Not only is the pandemic prompting more people to consider homeownership, but it’s also influencing how they shop for a home. Virtual tours, 3D tours, Livestream tours, and even FaceTime tours have come out of the woodwork.  

In the Lending Tree survey, 61% of homebuyers said they have virtually toured a home over the last 60 days and another 33% said that although they haven’t yet participated in a virtual tour, they are actually planning to.

The OJO Labs study indicated that virtual tours have become more valuable than prior to COVID-19 for both those delaying (42%) and those expediting (41%) the home buying process. 28% of those delaying the home buying process still report looking at listing photos and 25% are taking virtual tours of homes more now than before COVID-19.  

The Impact of Stricter Credit Requirements for Mortgages

The only apparent roadblock for homebuyers was qualifying for a mortgage as 44% surveyed by Lending Tree said they were worried about qualifying due to the pandemic. First-time buyers (58%) and millennials (52%) expressed the most concern as lenders have reportedly tightened credit availability during the coronavirus outbreak.  

The Mortgage Credit Availability Index (MCAI) fell by 12.2 percent to 133.5 in April. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. Although less credit access means lenders are likely to raise their minimum credit score and down payment requirements, it doesn’t mean you can’t qualify for a mortgage amid the coronavirus outbreak. You may have to shop a little harder. 

It’s recommended to shop at least three lenders to find the best rates and get preapproved for a mortgage before you start looking for homes. Keep in mind that lenders are also grappling with the effects of COVID-19 and the process may move slower than normal.

Homebuying Process During A Pandemic

Partner with Top-rated Farmington Hills MI REALTOR® -Tom Gilliam  

A top-rated Farmington Hills and Oakland County MI real estate agent like Tom Gilliam can show you more properties and save you thousands of dollars when buying a home. You need an agent who knows the area, processes a vast network of local connections, and has the skills to negotiate like a pro.

From first-time homebuyers to multi-million dollar investors, Tom continually strives to provide top quality service for his clients. With access to the most up-to-date MLS listings for Oakland county MI properties, Tom is able to match your lifestyle needs with the perfect home.

If you are ready to list your current property, Tom has the experience and skills necessary to handle the sale and marketing of your home for the optimum results. Tom employs the latest technology to deliver massive exposure that will drive maximum targeted response from qualified buyers.

Tom also partners with the most talented home stagers to ensure that your home is thoughtfully staged to highlight its features and amenities. With over 25 years of local real estate experience, Tom will protect your interests, advocate for you, and go above and beyond your expectations to ensure a smooth and successful transaction.

If you or someone you know is interested in buying or selling Farmington Hills MI real estate, please give Tom a call today at 248-790-5594 or you can get in touch here.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Call: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578

How To Check Out A Potential Neighborhood When You’re Following Stay-at-Home Orders | Realtor Tom Gilliam

How To Check Out A Potential Neighborhood When You’re Following Stay-at-Home Orders | Realtor Tom Gilliam

by | May 10, 2020 | buyer market, buyers, buying a home, Coronavirus, Covid-19, neighborhood

The coronavirus is completely changing the real estate industry, and stay-at-home orders have presented unique challenges for buyers. Not only are they unable to tour properties in person, but, in some areas, they also can’t walk around the neighborhood and get a feel for whether it’s the kind of neighborhood they want to call home.

But just because you can’t explore an area in person right now doesn’t mean you can’t get a feel for a potential neighborhood—and whether it’s the right fit for you, your family, and your new home.

A recent article from realtor.com outlined strategies buyers can use to “test drive” a new neighborhood while they’re sheltering in place, including:

  • Check out local publications and social media. Many neighborhoods have their own newspapers, magazines, or other publications, which can give you insights into the neighborhood vibe. You can also search Facebook groups or use neighborhood-specific social media apps like NextDoor to get a feel for the area.
  • Take a (virtual) walk. You may not be able to visit a neighborhood in person right now, but thanks to Google Street View, you can take a virtual walk and explore the area.
  • Call a real estate agent. A real estate agent that specializes in the area can give you key insights and details about the neighborhood, and help you determine whether an area is the right fit for what you’re looking for.

The Takeaway:

So, what does this mean for you? If you’re in the market for a new home and want to get a feel for the neighborhood, stay-at-home orders don’t have to stop you. With a little bit of creativity, you can explore neighborhoods near and far—without ever leaving the comfort and safety of your home.

If you or someone you know is interested in buying or selling Oakland County MI real estate, please give Tom a call today at 248-790-5594 or you can get in touch here.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Call: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #301741

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ABOUT US

As an Oakland County Michigan Professional Realtor I take pride in my knowledge of the current market conditions in all of the region’s micro-markets, and I offer my clients an intimate glimpse into the neighborhoods that might become their next home or one they sell a home in. 

CONTACT US

Tom Gilliam, Realtor
248-790-5594
[email protected]

RE/MAX Classic
29630 Orchard Lake Rd, Farmington Hills 48334
License # 301741

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