Why Cash Buyers and Low Inventory Is Making Home Purchasing Difficult for Farmington Hills Non-Cash Buyers

Why Cash Buyers and Low Inventory Is Making Home Purchasing Difficult for Farmington Hills Non-Cash Buyers

A recent real estate market analysis found that nearly one-third of all home purchases nationwide were cash transactions between January 1, 2021, and April 30, 2021. Remember, what is happening nationwide reflects what’s occurring in the housing market on the local level. Adding that housing inventory is low in Farmington Hills, Michigan, it’s becoming increasingly tricky for non-cash buyers to get a foothold in the home purchasing race, never mind winning it, taking the prize of homeownership.

Tips To Beating Out Cash Buyers

So you’ve found yourself going up against cash buyers in purchasing that dream home. Don’t give up! There are several ways to get yourself on an even playing field when dealing with cash home buyers in Farmington Hills.

Increase Earnest Money Deposit

Earnest money is essentially a deposit put up in good faith that reserves your right to purchase the home. If you back out of the contract without reason, the seller retains the earnest money. Increasing your earnest money deposit shows the seller that you’re serious about buying their house.

Get Mortgage Pre-approval

Mortgage lenders typically offer fully underwritten preapprovals. Meaning they’ve run a credit check and verified your finances for your mortgage loan before bidding on a property. Pre-approvals give the seller an added layer of credence that you’ll follow through as a qualified buyer. Generally, the document required by a lender for pre-approval is proof of assets and income, optimal credit, and verification of employment, typically called a VOE.

Better Adherence To Seller’s Timeline

A seller’s goal is likely a smooth transition. However, keep in mind they too are making a move, possibly to a new home. Extenuating circumstances possibly command a quicker process, or they may require some extra time before vacating the property. Be agreeable when it comes to meeting the seller’s needs if you’re in the running with an all-cash home offer.

Appraisal Gap Guarantee

An appraisal gap guarantee guarantees that the home buyer covers the monetary gap between the contract price and the appraisal if it comes in too low. To overcome a low appraisal, a buyer pays the difference or renegotiates with the seller.

Go Above Asking Price

Cash buyers are notorious for going below the asking price, knowing a quick sale is enticing to some home sellers. A buyer has the option to include an escalation clause that automatically increases your offer to a maximum stated amount if a cash buyer outbids you.

Limit Contingencies

Limiting or waiving contingencies isn’t entirely without risk, but it shows the seller you’re willing to work with them to secure the deal. The financing contingency, inspection contingency, sale contingency, and appraisal contingency are items to consider waiving to simplify the home buying process. Keep in mind that waiving these items waives certain rights like an inspection, backing out of a contract, or renegotiating.

Top-rated Farmington Hills MI School System

Top-rated Farmington Hills MI School System

Top-rated Farmington Hills MI School System – Farmington Hills is a diverse community of over 80,000 residents located in Oakland County, the most prosperous county in Michigan. One of the northern suburbs of Detroit, Farmington Hills has earned the reputation of being a desirable place to live, work, and raise a family. It’s a welcoming community that boasts a high satisfaction rate among residents. 

The area is known for its historic downtown, and one of Michigan’s top-rated public school systems, For parents with school-age children, the quality of a school district is often one of the primary deciding factors on where to live. Farmington Hills is served by the Farmington Public School District, which has an exceptional academic record. 

The school system serves over 10,000 children and offers award-winning educational programs, as well as highly-rated music and athletic programs. Students in Farmington Public School District consistently score above state and national averages on standardized tests and the district’s International Baccalaureate (IB) program has received the highest endorsement possible – “World School.”  

The district boasts the largest Career and Technical Education (CTE) department in Oakland County, with nine state-approved programs running at all three high schools and one additional state-approved program running at North Farmington High School. More than 60% of students at each of the three high schools participate in these courses.

Students regularly earn honors as AP Scholars, All-State Academic winners, and National Merit Award winners. Most recently, nine students earned the distinction of being named National Merit Scholars, and two were finalists for National Achievement Scholarships.

Students also excel in State and National competitions like Destination Imagination, WordMasters, PTA Reflections, Math Pentathlon, HOSA, and Robotics to name just a few. The combined high school robotics team, Hackbots, has earned the honor to compete in the First Robotics World Competition three times. 

Approximately 751 students took Advanced Placement exams and 69% qualified for college credit on at least one exam in 2017 – 2018, which saves hundreds of dollars of college tuition for families. Last year, Farmington Public Schools graduated 792 students and approximately 95% of students went on to a four-year university, community college, or trade school.  

Farmington Public School District schools include: 

High Schools:

Middle Schools:

Elementary Schools:

K-8 Schools:

Early Childhood Learning Centers:

For higher learning, there are 72 colleges within 100 miles of Farmington Hills. The nearest colleges withn a 16 mile radius include Schoolcraft College, Lawrence Technological University, Madonna University, Michigan Jewish Institute, Oakland Community College, Yeshiva Gedolah of Greater Detroit, Marygrove College, Baker College of Auburn Hills, and Henry Ford Community College.

Boasting a wide range of housing options to suit every lifestyle and price range, an excellent school system, and convenient retail entertainment and dining options, Farmington Hills, Michigan is a great community to put down roots, buy a home, and raise a family!

Partner with Top Farmington Hills REALTOR® – Tom Gilliam

Although the real estate market is always changing, Top Farmington Hills MI REALTOR® Tom Gilliam’s commitment to exceptional, personalized service is something you can always count on.  He will always take the time to listen to your needs and concerns, keep you updated every step-of-the-way, and will do whatever is necessary to facilitate a smooth and successful transaction.

If you’re looking to sell your home in Farmington Hills, Tom incorporates the most effective and cutting-edge marketing approaches for getting your home in front of as many potential buyers as possible. If your home isn’t on the key real estate websites, it will be invisible. Your property will be listed in hundreds of locations all around the Internet and will get exposure on all the major sites such as Zillow, Trulia, Realtor.com, Movato.com, Homes.com, and other many other sites that homebuyers frequently visit.

You can be assured that Tom is fully committed to getting your home SOLD for the highest market price in the least amount of time possible. He is an expert negotiator and will work hard to protect your investment by making sure that no money is left on the table. With Tom as your personal agent, you’ll have the most qualified Farmington Hills MI REALTOR® by your side who will protect your interests, advocate for you, and handle all the details of your home purchase or sale for a smooth and successful transaction.

To find out more about buying or selling Farmington Hills MI real estate, feel free to call Tom directly at (248) 790-5594 or you can get in touch with him here!

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

New Construction Homes in Farmington Hills MI

New Construction Homes in Farmington Hills MI

Welcome to new construction homes in Farmington Hills MI! Located about 30 miles northeast of downtown Ann Arbor, Farmington Hills is a family-friendly suburban city close to everything that metro Detroit has to offer. Recently named as the “Fifth-Best City in Michigan to Live, ” Farmington Hills is home to approximately 81,235 people and has a median household income of $76,637. The city encompasses approximately 33.3 square miles and boasts many great neighborhoods with parks and children’s playgrounds – perfect for raising a family!

Buyers will find an impressive selection of new construction homes in Farmington Hills MI with open floor plans, first-story master bedrooms, state-of-the-art kitchens, three-car garages, and more. Known for its charming, historic downtown and an award-winning public school system, Farmington Hills provides convenient access to several major routes, making it easy to get anywhere you want to go in Metro Detroit.

Tom Gilliam is a top producing Farmington Hills MI REALTOR® with over 20 years of experience assisting home buyers in Farmington Hills and the surrounding area. Tom’s knowledge and professionalism and his expertise in the local market will give you the assurance you need for making the best decision on your new home. To learn more about new construction homes in Farmington Hills MI, feel free to call Tom directly at (248) 790-5594 or you can get in touch with him here!

Search the MLS below where you’ll find the most accurate and up-to-date listings for new construction homes in Farmington Hills MI.  Also, be sure to scroll down below to learn more about new construction in Farmington Hills and living in this vibrant community:

New Construction Homes in Farmington Hills MI

$1,900,000
Single Family Home For Sale
Active
5
BEDS
8
TOTAL BATHS
6,305
SQFT
28501 Fourteen Mile Road
Farmington Hills, MI 48334
Franklin Oaks - Farm Hills Subdivision
$1,370,000
Single Family Home For Sale
Active
5
BEDS
9
TOTAL BATHS
6,497
SQFT
36933 Howard Road
Farmington Hills, MI 48331
 
$1,125,000
Single Family Home For Sale
Active
6
BEDS
7
TOTAL BATHS
6,577
SQFT
26363 Ballantrae Court
Farmington Hills, MI 48331
Trillium Occpn 785 Subdivision
$1,110,000
Single Family Home For Sale
Active
4
BEDS
5
TOTAL BATHS
5,570
SQFT
20925 Metroview Road
Farmington Hills, MI 48335
Suprvr'S Plat No 8 - Farmington Hills Subdivision
$929,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,500
SQFT
29010 Wintergreen
Farmington Hills, MI 48331
Halsted Estates Condo Occpn 1906 Subdivision
New Listing - a week online
$925,000
Single Family Home For Sale
Active
4
BEDS
5
TOTAL BATHS
4,600
SQFT
37227 Timberview Lane
Farmington Hills, MI 48331
Whispering Woods Estates Subdivision
Price Change - 4 weeks ago
$899,999
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,000
SQFT
36025 14 Mile Road
Farmington Hills, MI 48331
 
$899,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,134
SQFT
23775 Inkster Road
Farmington Hills, MI 48336
 

New Home Communities in Farmington Hills MI

Developed by Windmill Homes, Forest at Wooddale and Halsted Hollow North are brand new developments featuring new construction homes in Farmington Hills MI. Both developments include a small enclave of 18 homesites. Buyers will find quality-constructed, 3-4 bedroom colonial and ranch-style homes, some with first-floor master bedrooms. Homes are priced from the high $400s. Amenities include energy-efficient home design, up to 3-car garages, woodland preservation area; passive wooded park, many lots with wooded rear yards, and easy access to I-696, I-275, M5, and I-96. Students attend Farmington Public Schools.

Why Homebuyers Should Consider Living in Farmington Hills, MI

Farmington Hills is fueled by a strong economy and is home to several large corporations including Nissan Technical Center, Nissan Trading Corp., Hitachi Automotive Services, Hino Motors Manufacturing, branches of Panasonic, Mercedes Benz, and Greenpath, and many other companies.

Historic Downtown Farmington includes 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.   

Most of Farmington Hills is served by the nationally recognized   Farmington Public Schools filled with top-rated schools. Other districts serving the community in include Clarenceville Public Schools, and Walled Lake Consolidated Schools.  Institutions for higher learning include branches of Michigan School of Psychology, Oakland Community College, and Wayne State University. 

The 211-acre Heritage Park located in Farmington Hills provides 4.5 miles of trails for hiking and nature study and cross-country skiing. 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.  

Major routes in Farmington 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 town.

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. As a member of the National Association of REALTORS®, tom adheres to a strict Code of Ethics and Standards of Practice. Tom possesses a strong work ethic and will do whatever is necessary to facilitate a smooth and successful transaction. He will take the time to listen to your needs and concerns and will always have your best interests in mind.

Partner with Tom, you’ll have a Farmington Hills real estate 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 find out more about new construction homes in Farmington Hills MI, feel free to call Tom directly at (248) 790-5594 or send him an email today!   

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

Farmington Hills MI Condos and Townhomes for Sale

Farmington Hills MI Condos and Townhomes for Sale

Farmington Hills is a smaller, wealthy city in Oakland County, MI.  Located about 30 miles northeast of downtown Ann Arbor, Farmington Hills is known for its charming and historic downtown area and award-winning public school system. If you are currently in the market for a condo/townhome in the northwestern suburbs of Metro Detroit, Farmington Hills MI condos and townhomes for sale are worth consideration.

Condos/townhomes have many benefits for first-time homebuyers, including more affordable prices, lower renovation costs, lower utility bills, and insurance costs, and low maintenance living and shared amenities. In order to find the perfect condo/townhome ideally suited to your lifestyle and needs, buyers will want to parter with a qualified agent.

Tom Gilliam is a professional Farmington Hills real estate agent with over 20 years of experience assisting buyers and sellers. Tom’s knowledge and professionalism and his expertise in the local market will give you the assurance you need for making the best decision on Farmington Hills MI condos and townhomes for sale. Get the process started today by calling Tom directly at (248) 790-5594 or you can get in touch with him here!

Search the MLS on our easy-to-use website, where you’ll find the most accurate and up-to-date listings for Farmington Hills MI condos and townhomes. You can save your search, create a free account, and receive email alerts of new listings that match your home criteria delivered directly to your email!

Browse Farmington Hills MI Condos and Townhomes for Sale

New Listing - 2 weeks online
$359,900
Condo For Sale
Active
3
BEDS
3
TOTAL BATHS
1,650
SQFT
37011 Driftwood
Farmington Hills, MI 48331
Ramblewood Forest Condo Subdivision
Price Change - 7 days ago
$350,100
Condo For Sale
Active
3
BEDS
3
TOTAL BATHS
2,185
SQFT
30798 Tanglewood Trail
Farmington Hills, MI 48331
Ramblewood Forest Estates Condo Subdivision
$319,000
Condo For Sale
Active
3
BEDS
3
TOTAL BATHS
2,181
SQFT
36543 Martel Court
Farmington Hills, MI 48335
Drakes Crossing Condo Occpn 568 Subdivision
Price Change - 5 days ago
$205,000
Condo For Sale
Active
3
BEDS
3
TOTAL BATHS
1,715
SQFT
32312 W 12 Mile Road #46C
Farmington Hills, MI 48334
 
New Listing - 2 weeks online
$200,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
1,146
SQFT
29419 E Glen Oaks Boulevard
Farmington Hills, MI 48334
Glen Oaks Village Condo Occpn 1172 Subdivision
New Listing - 2 weeks online
$199,900
Condo For Sale
Active
3
BEDS
3
TOTAL BATHS
1,108
SQFT
22099 Atlantic Pointe
Farmington Hills, MI 48336
Nantucket Townhomes Occpn 1080 Subdivision
New Listing - 2 weeks online
$199,900
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
1,061
SQFT
20839 Orchard Lake Road #2
Farmington Hills, MI 48336
Farmington Orchards Occpn 630 Subdivision
New Listing - 4 weeks online
$185,000
Condo For Sale
Active
2
BEDS
2
TOTAL BATHS
934
SQFT
31164 Country Way
Farmington Hills, MI 48331
Crosswinds of Farmington Hills Occpn 407 Subdivision

More About Farmington Hills MI Condos and Townhomes for sale

As a licensed, professional REALTOR® in Farmington Hills, Tom Gillian stays on top of the local market at all times and is aware of newly available condos/ townhomes as soon as they hit the market, ensuring that his buyers have access to the best properties and securing an offer.

Farmington Hills MI 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. 

Tom will evaluate the prices of the condos/townhomes currently on the market and those that have sold in recent months to determine whether the seller’s asking price is in line with market data, to ensure that you get maximum value for our money.   

LIVING IN FARMINGTON HILLS, MI  

Thriving in business and leisure activities, Farmington Hills is a family-oriented community fueled by a strong economy. Farmington Hills is home to a number of large corporations such as Nissan Technical Center, Nissan Trading Corp., Hitachi Automotive Services, Hino Motors Manufacturing, and branches of Panasonic, Mercedes Benz, and Greenpath.

Downtown Farmington is a vibrant, walkable destination with over 160 businesses, shops, restaurants, and more. Downtown is also home to the popular Farmington Farmers & Artisans Market held every Saturday.

For parents with school-age children, Most of Farmington Hills is served by the highly-acclaimed school district of Farmington Public Schools, filled with top-rated schools. A small portion of the community is also served by the districts of Clarenceville Public Schools, and Walled Lake Consolidated Schools. Michigan School of Psychology, Oakland Community College, and Wayne State University serve the higher education needs of the community.

Farmington Hills offers plenty of opportunities for spending quality time outdoors. Heritage Park features trails for hiking and cross-country skiing during the winter months along with a splash pad, playground, volleyball courts, an in-line hockey rink, and more. The beautiful 18-hole Farmington Hills Golf Club course offers one of the best-golfing venues in the area.

The closest major airport is Detroit Metropolitan Wayne County Airport located about 30 miles from the center of town. 

TOP FARMINGTON HILLS REALTOR® – TOM GILLIAM

Whether you’re in the market for Farmington Hills MI condos and townhomes for sale or its time to list your current property, experience matters most in a changing market. Serving the local community for over 20 years, Tom provides the kind of expertise, dedication, and personalized service you need and deserve. He will take the time to listen to your needs and concerns and will always have your best interests in mind. 

Partner with Tom and you’ll have an expert by your side who will protect your interests, advocate for you, and skillfully handle all the details of your home purchase or sale for a smooth and successful transaction. To learn more about Farmington Hills MI condos and townhomes for sale, feel free to call Tom directly at (248) 790-5594.

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

Why You Should Consider Farmington Hills MI Homes for Sale

Why You Should Consider Farmington Hills MI Homes for Sale

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). 

Search Farmington Hills MI Homes for Sale

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.

Search Farmington Hills MI Homes for Sale

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.  

Farmington Hills MI Homes for Sale

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.  

Search Farmington Hills MI Homes for Sale

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.

Farmington Hills MI Real Estate

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.

Search Farmington Hills MI Homes for Sale

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®         
RE/MAX Classic
29630 Orchard Lake Rd,
Farmington Hills 48334
Call: 248-790-5594
Office: 248-737-6800
Email: [email protected]
License #301741

Map of Farmington Hills, MI

Recession Possible-Home Shoppers, Real Estate Experts Are Optimistic

Recession Possible-Home Shoppers, Real Estate Experts Are Optimistic

Most experts predict that following a seven-year period of economic growth the US economy is headed towards a recession (most likely sometime in 2020). But while The Great Recession devastated the housing market, house shoppers remain optimistic about how the market will handle a potential recession in the coming years.

Expect A Recession But Remain Optimistic

According to a recent survey from Realtor.com, nearly 70 percent of home shoppers said they expect a recession to hit the US economy sometime in the next three years (by 2022). But despite the fact that most believe a downturn is looming, many remain optimistic about the housing market, with 41 percent of home shoppers predicting the market would fare better than it did in 2008.

The experts agree. “When the U.S. enters its next recession, it is unlikely that the housing market will see a sharp nationwide downturn. The same record low inventory levels that have made buying a home so difficult recently will likely protect home prices in the next recession,” said Realtor.com’s chief economist Danielle Hale in the article.

The Takeaway

If you’re thinking about buying a home, don’t be nervous. There might be talk of an upcoming recession (and, obviously, you’ll want to do your own financial due diligence), but the optimism about the housing market from consumers and experts alike is a good sign.

If you’re considering buying a home, ask any real estate agent worth their salt and they’ll tell you: NOW is the time to do it.

The real estate market is seemingly changing by the day, and if you want to get a great home for a great price, making a move now is in your best interest; conditions a year from now (or even six months from now) aren’t likely to be as hospitable.

And why is that? Why shouldn’t you, if you’re interested in buying a home, wait? Why is NOW the time to make a move?

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