Why You Should Consider Farmington Hills MI Homes for Sale
Buyers who are looking to purchase a home in the metro Detroit area should consider Farmington Hills MI homes for sale. A small, wealthy city in Oakland County, Farmington Hills is part of the northwestern suburbs of Metro Detroit, located about 30 miles northeast of downtown Ann Arbor.
Farmington Hills has a charming, historic downtown area, which has recently seen extensive development along with an award-winning public school system. With a population of 81,235 and a median household income of $76,637, Farmington Hills was recently ranked as the fifth-best city in the state in which to live by Chamber of Commerce (a digital-based company).
The wide range of affordability from entry-level market-rate homes to multimillion-dollar estates within the greater Farmington area provides abundant opportunity for families to move here and enjoy a strong sense of community with access to top-rated, public schools.
TIME magazine also picked Farmington Hills as the best place to live in Michigan based on factors such as strong economic and educational performance, convenience, safety and pleasant way of life. In order to navigate the local market and find the perfect home in Farmington Hills, buyers will need to partner with a qualified, local agent.
Top Farmington Hills REALTOR® – Tom Gilliam has over two decades of experience assisting home buyers and sellers in Farmington Hills and the surrounding Oakland County area. Tom offers in-depth local market knowledge and has all the resources and information you need for making the best home purchase decision.
For more information about Farmington Hills MI real estate, call Tom directly at (248) 790-5594 or get in touch with him here!
More About Farmington Hills MI Real Estate & Homes for Sale
The Farmington market remains strong with home values and home prices on the rise. Home values have gone up 2.6% over the past year and real estate industry experts predict they will rise another 1.4% within the next 12 months. The median price of currently listed Farmington Hills MI homes for sale is $295,950.
As a licensed, professional real estate agent in Farmington Hills, Tom Gillian stays on top of the local market at all times and is aware of new inventory as soon as it becomes available, ensuring that you will have access to the best properties and securing an offer.
Tom’s extensive knowledge goes well beyond the value of the homes in the area. He keeps his finger on the pulse of community trends, business developments, the local economy, and other factors that can affect the market value of property in the area to ensure that you get the best value for your money.
Tom can also help educate you about the different neighborhoods and communities in Farmington Hills, the types of homes and features offered, the builders, schools, property values, current market trends, the surrounding area, and so much more. Streamline your home search by having Tom put together a list of properties that best match your specific criteria in a home.
Get started now by requesting customized search results delivered directly to your email along with email alerts of new listings. Call Tom directly at (248) 790-5594 or get in touch with him here.
Why Homebuyers Should Consider Living in Farmington Hills, MI
Thriving in business and leisure activities, Farmington Hills is fueled by a strong economy. Boasting steady job growth, Farmington Hills is home to a number of large corporations including the Nissan Technical Center and Nissan Trading Corp. as well as Hitachi Automotive Services, Hino Motors Manufacturing, and branches of Panasonic, Mercedes Benz, and Greenpath.
Other top Farmington Hills employers include Robert Bosch Corporation, Botsford Hospital, Quicken Loans, Cengage Learning Gale, and Chrysler Financial Services.
Downtown Farmington is a vibrant, walkable destination with over 160 businesses from banks, to bead stores to photography and yoga studios along with a variety of eateries and one-of-a-kind shops to explore.
Also located downtown is the Walter E. Sundquist Pavilion, home to the popular Farmington Farmers & Artisans Market held every Saturday. The pavilion is located adjacent to Riley Park. The best-known park event is Rhythmz in Riley Park, attended by about 500 people every Friday, June-August.
Twelve Oaks Mall, located about 5.7 miles away in Novi is considered the dominant shopping destination of choice of metro Detroit. The mall features nearly 200 distinctive stores and restaurants including Apple, Coach, Michael Kors, The CheeseCake Factory, and more.
For parents with school-age children, most of Farmington Hills is served by the highly-acclaimed district of Farmington Public Schools, which is shared with nearby Farmington and filled with top-rated schools. Other public school districts including Clarenceville Public Schools, and Walled Lake Consolidated Schools.
Farmington Hills has several private schools including The International School, The Maria Montessori Center, Mercy High School, St. Fabian Elementary and Middle School, Schoolhouse Montessori Academy – Farmington Hills, and Steppingstone School.
Institutions for higher learning include branches of Michigan School of Psychology, Oakland Community College, and Wayne State University.
Farmington Hills has plenty of neighborhood and community parks for spending quality time outdoors. The 211-acre Heritage Park features 4.5 miles of trails for hiking and nature study which are also used for cross-country skiing during the winter months.
Park amenities include a large picnic area, splash pad, group picnic shelter, playground, in-ground grills, two sand volleyball courts, an in-line hockey rink, and six horseshoe pits.
For golf enthusiasts, the beautiful 175-acre Farmington Hills Golf Club course offers one of the best-golfing venues in the area, with 18 challenging holes measuring 6,413 yards, manicured bent grass tees, fairways and greens, ponds, and gently rolling hills.
Major thoroughfares in the city include (M-5), Orchard Lake Road, 12 Mile Road, 8 Mile Road, Northwestern Highway, I-696, and I-275. Suburban Mobility Authority for Regional Transportation (SMART) operates local and regional bus service for Farmington Hills.
The closest major airport is Detroit Metropolitan Wayne County Airport with international and domestic flights from Detroit, located 30 miles from the center of Farmington Hills.
Partner with Top Farmington Hills REALTOR® – Tom Gilliam
Whether you’re in the market for Farmington Hills MI homes for sale or its time to list your current property, Tom Gilliam provides the kind of knowledge, skills, dedication, and personalized service you need and deserve. Tom will take the time to listen to your needs and concerns and will always have your best interests in mind.
By partnering with Tom, you’ll have an expert by your side who will protect your interests, advocate for you, and skillfully handle the real estate transaction for the best possible outcome. To learn more about Farmington Hills MI real estate, feel free to call Tom directly at (248) 790-5594 or send him an email today!
Tom Gilliam, REALTOR®
29630 Orchard Lake Rd,
Farmington Hills 48334
Email: [email protected]
Map of Farmington Hills, MI
As a homebuyer looking for homes in the Oakland County, Michigan area you may find yourself asking what property is included in the sale of the home, so this is to give some clarification on the topic of personal verse included property. Although your realtor would know exactly what is included and excluded with the sale of the home, but you should be aware as well when searching for a new home especially if you are a first-time homebuyer. Keep in mind attention to the details is a must to prevent a disagreement between the home seller and home buyer at time of the final walk-through and what was included in the sale of the home.
Knowing the difference between what’s included in the sale of the home and what’s excluded
First things first, when a homebuyer receives the listing ticket or reads the description it should state what is included in the sale of the home and also it should state exclusions as well to prevent any misconception of the buyer’s expectations of what included in the sale of the home. Many times, the issue or confusion can be addressed before or after the showing by the homebuyer, but can still arise after seeing the home days later. Basically, anything that is fixed to the property is included in the sale of the home unless otherwise stated in the description or directly from the home seller.
What are examples of fixed items that are included in the sale of the home
As a homebuyer you may need examples on what property is included with the sale of the home in order to make a homebuying decision. Some Include:
- Built-In Dishwashers
- Built-In Stoves
- Built-In Microwaves
- Garbage Disposals
- Light Fixtures
- Plumbing Fixtures
- Dressers Built-In
These are just some examples of things that are “Nailed Down” or attached to the home that in most cases are property that is included in the sale of the home, but as I mentioned their may be some exclusions to some of these items if stated by the home seller. It is best to discuss this with your Realtor as each home is different.
What if I wanted something in the home that is excluded and not attached?
Normally if something is excluded and not included in the sale of the home means the home seller is not willing to part from it, but your Realtor at time of writing offer could ask on your behalf to include it in the sell. An example would be something like a hanging mirror that you think looks great with the home and you as a homebuyer would like to have it. The best option is for the home seller to avoid property that is not included in the sale of the home be removed and replace the property before starting to show the home for sale.
It is my hopes that this helps with both homebuyers and home sellers understand what property is included in the sale of the home. Remember that I’m always here to help in all of your real estate needs and services. You can call or email me anytime [email protected] or 248-790-5594
In today’s Oakland County Michigan housing market it is important now more than ever for home seller offers to respond to a buyers offer for purchase of their home, usually the time frame would be within twenty four hours which allows for the home seller offer to have plenty of time to be reviewed,considered and possibly allow time for the listing agent to review with their home seller as well. Although the twenty four hours is the standard, there are times that this is not possible as some home sellers are out of town,family issues or other events that may prevent them from being able to respond within the time frame which would require your real estate agent to write an extension which would allow more time for the review of the home sellers offer.
Although the timing may change for your sellers offer to get reviewed and the home buyer will most of the time understand that this is a process and their offer may take a little longer to get an answer, there are other issues to look out for. Unfortunately we have home sellers that have multiple offers in hand and seem not to be in any hurry to accept and of the seller offers that they have and you may wind up as a home buyer getting into a highest and best offer situation, its always best if your buyers agent ask beforehand if their are other offers on the particular home your trying to purchase. Most realtors will tell you if they have multiple seller offers on a particular property. As your realtor we will inform you on the best ways to handle this situation if it arises while presenting your offer the the sellers agent.
Lets Breakdown The Sellers Offer Process
When a home owner receives a legitimate home seller offer in writing, the seller can accept the offer, reject it, make a counteroffer, or do nothing. While the home owner is not legally bound to respond, if a seller doesn’t respond in a timely fashion, the buyer might become irritated and lose interest in the property.
Protection For Home Buyer and Seller Offers
Most real estate contracts contain an expiration date. If the seller doesn’t respond to the seller offer by the specified date, the agreement becomes null and void, unless the buyer agrees to reopen negotiations
Advice For Both Home Buyer and Home Seller With Offers
As a seller, your response time might defer depending on market conditions. Responding quickly makes sense in a down market, whereas responding slower in a thriving market could give the seller more time to receive multiple offers. A good practice for both buyers and sellers is to respond to any offer or counteroffer quickly and decisively unless circumstances warrant otherwise.
Remember buying or selling a home is one of the most important financial decisions you can make in a lifetime. It would be my pleasure to assist you in all of your home buying and home selling needs here in Oakland County, Michigan, please feel free to call me anytime 248-790-5594
You are probably wondering that if a person can buy a house on their own, then why can’t they sell one on their own as a For Sale By Owner (FBSO) . Homes for sale in Farmington Hills, Michigan deserve a great Real Estate agent to market, stage, arrange appointments and screen buyers to assure they are pre-qualified and able to purchase your home and get you the best price possible.
Houses that have the sign stating “FSBO” (for sale by owner) do not make much profit. According to the National Association of Realtors, in 2017, 89% of the sellers sold their house through a real estate agent and 87% of the buyers hired a real estate agent for the purchase. A house sale that was handled by a real estate agent went for $249,000, whereas one that was handled by the owner went for $190,000.
A few difficulties that FSBO houses face include:
- Inability to set the right price
- Unable to understand the paperwork
- Not being able to sell the house within the planned time
- Failing to stage the house properly for the sale
- Not having enough time for giving people a house tour
Now that you know what awaits you if you put up your home for sale in Farmington Hills, Michigan, on your own, let’s have a look at the following reasons why hiring a real estate agent is more beneficial:
1. They Have More Knowledge about the Real Estate Market
You won’t be able to make a sound deal on your home for sale in Farmington Hills, Michigan, because both the parties, you and the buyer, are not familiar with most of the real estate terms. A loophole might become visible in the future that will negatively affect you both. This is where a real estate agent proves his worth. Not only is he up to date with the current real estate market trends, but he also knows what documents are needed to make the transfer as easy as possible.
2. House Is Priced Competitively
The real estate agent knows more about comps than you will ever find out on the internet. Comps are necessary for setting the price. They are the key to multiple offers. Why would you pass up on such a good opportunity!
3. They Have Several Online Marketing Strategies up Their Sleeve
A real estate agent has several connections, which allows them to market your house to the right buyers. They are recognized in the industry, which gives them the power to sell your house within a month.
4. High Profits In Homes For Sale Farmington Hills, Michigan
When a trusted and reliable real estate agent handles home for sale in Farmington Hills, Michigan, you can be assured that you will receive a hefty profit. Clients with whom he has been working for a long time will trust his judgment and might even agree to the asking price without negotiations.
Convinced why hiring a real estate agent, who will ask for a small commission (did we mention small), is such a good idea? If you think about it, a real estate agent has magical powers—sort of— that help you sell your house easily. If you are looking for such a competent real estate agent who will help you with your house’s sale, then visit Homes2MoveYou or call me 248-790-5594 and get your house listed and beat the upcoming competition.
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.
Let’s clear this up for you. Following is some pertinent information that all homebuyers should know about before buying your Farmington Hills home:
Counting Your Savings
As said earlier, down payment plays the biggest role in the home buying process. If you have 20% down payment saved up, then you don’t have to worry about private mortgage insurance. Let’s say that you saved around $20,000 for the down payment. If the home in Farmington Hills, costs $100,000, then you are building equity from the start. However, if the asking price is higher than this, then you will be charged a PMI anywhere between 0.25% and 2%.
All in all, you will be borrowing less if you have the 20% down payment or more. Moreover, the lender will be more open to giving you a loan and at a low interest rate when buying your Farmington Hills home.
When calculating the monthly payments, factor in your debts too. Aim for a house that will cost you less than 28% of the monthly income. This is because you will be paying down your debts, and any missed payment might result in a penalty
Kinds of Houses Are You Looking For In Farmington Hills?
What are your future plans?
Do you see yourself having a family?
How many kids do you plan to have?
What are your aspirations regarding your job in Farmington Hills?
How is your lifestyle?
Questions like these give you a clear perspective of what kind of house you should buy in Farmington Hills. The price of the house increases depending on the neighborhood and the facilities offered within the community. The number of rooms, backyard, driveway and garage also play a role in the price range. Set a margin and tell your real estate agent to stick to it. Be realistic about your needs.
Be Mindful When Borrowing
Don’t bite more than you can chew! Financial stress is the worst and can quickly lead to depression. So, look for a house in Farmington Hills that falls under your budget and amounts to monthly payments you can easily pay.
Now you understand why it is so important to assess your financial situation before making this move. Look for a house that you think you can spend the next 10 to 20 years in. Changing houses within the span of 5 years will financially bankrupt you. If you want to buy a home for sale in Oakland County, Michigan, that falls under your budget and has all the features you need, then visit Homes2MoveYou.
Winter in Farmington Hills is the perfect time of year for plenty of things: making snow angels, going ice skating, and drinking hot cocoa by the fire are all things that come to mind.
Do you know what else winter is the perfect time of year for winter home buying.
There’s no better time to find your dream home than the winter months. Here are five reasons why winter is the perfect time to find a home:
1. There’s less competition for winter buying
One of the best reasons to purchase a home during the winter is that there’s typically less competition.
Winter isn’t the most popular time of the year to move; kids are still in school and potential buyers with children tend to wait until spring or summer to start looking to avoid having to pull their children out of school. And because there’s less buyers on the market, you’ll face less competition on the homes you’re interested in.
You’re also less likely to face multiple offer situations when the market is less competitive — which means that when you find a home you love and put in an offer, you’re not going to be up against anyone else, which greatly increases the chance of your offer being accepted.
2. Prices are more competitive in winter
Another major benefit of buying a home in the winter is that the pricing is more competitive.
This means that in the winter, you’re far more likely to get a deal on your home than spring or summer. In fact, recent research shows that while buyers paid $1500 more than the sale price of the average US home during the peak spring season. But in the winter? They paid $3100 less.
3. You’ll deal with more motivated sellers
Another plus of buying in the winter?
Because there aren’t as many buyers on the market, sellers are much more motivated to sell — which means they’ll be much more willing to negotiate with you.
That can mean anything from coming down on the price, covering some (or all) of your closing costs, working with you on the closing date, or even throwing in extra appliances to sweeten the deal.
If you buy during the peak season, sellers don’t have as much incentive to negotiate since there’s a lot of competition, so do yourself a favor and buy in the winter when sellers are much more motivated to get their home sold.
4. You get to see how your new home holds up in the cold
If you live in an area with harsh winters, another benefit of buying a home in the winter is that you get to see how your potential new home will hold up in the cold — while it’s actually cold outside.
If you buy during the warmer months, your new home may look great. But when winter rolls around you might find that the chill in the air travels from outside to inside, or that your home is properly insulated to keep ice from building up on the exterior.
Bottom line: When you buy in the winter, you get to see your potential new home’s winter performance before you buy. You can make sure that your house has proper heating and insulation instead of buying in summer and hoping for the best — which can be an expensive mistake.
5. You get to take advantage of your real estate agent’s slow season
Because the winter months are typically slower in the real estate industry, your agent likely doesn’t have as many clients as they would in the peak season — which logically means you’ll probably get more of their attention.
A great real estate agent will always take care of you — no matter how busy they are. But there are only so many hours in the day, and during the peak season, he/she will likely have multiple clients they need to split their attention between.
But less real estate activity in the winter means less clients for your real estate agent, which means they have more time and energy to devote to you and your home search. They’ll be more available to research potential homes, show you new properties, and answer your questions — which will make your home search easier, faster, and more enjoyable.
As you can see, winter just might be the perfect time to buy a home. So bundle up, call your agent, and get out there and find your new home!