Buying A Home in Farmington Hills: 7 Things to Do Before Applying for a Mortgage

Buying A Home in Farmington Hills: 7 Things to Do Before Applying for a Mortgage

 

Buying A Home in Farmington Hills: 7 Things to Do Before Applying for a Mortgage

If you’re thinking about buying a home in Farmington Hills MI, applying for a mortgage is never simple, but it’s even trickier when you don’t know what to expect. If you are a first-time homebuyer, you can make the process easier by learning as much as you can ahead of time, before you’ve found your dream house.

Knowing what to expect allows you to plan ahead and improve your chances of getting a home loan with favorable terms. Here are 7 things to do before applying for a mortgage:

1). Review your credit report

Review your credit report to ensure there are no surprises long (several months) before you begin the mortgage process. Put simply, a low credit score will lead to a much higher mortgage rate, and even disqualification if it drives your monthly mortgage payment high enough.

When you submit a mortgage application, they’ll check your credit reports maintained by one or more of the three national credit bureaus (Experian, TransUnion, and Equifax), and the credit scores derived from those reports.

Lenders use credit information to help decide whether they’re willing to issue you a home loan and, if so, how much they’re willing to lend you and how much they’ll charge you in interest.

Farmington Hills MI Homes for Sale

Once a year, you can obtain a free credit report from all three credit reporting agencies at AnnualCreditReport.com. You’ll want to review each credit report carefully to make sure it accurately reflects your credit history and be ready to dispute anything on the report that isn’t accurate.  

2). Get familiar with basic mortgage terms

“Amortization,” “origination fee,” “earnest money” and other common terms used in mortgage lending might be phrases you’ve never even heard before. Since we are talking about your money and 10 to 30 years of your life, you’ll want to familiarize yourself with basic mortgage terms before speaking to lenders.

Everything you learn will position you to make the best choices for your finances and your future. Also, don’t be afraid to ask your lender or even your Farmington Hills REALTOR® lots of questions about the mortgage process, including mortgage terms you don’t understand.  

3). Know your budget

You don’t want to wind up with a mortgage you can’t pay – so it’s important to be realistic about your monthly income and expected expenses, and to leave some breathing room in your budget for emergencies or unexpected costs that might come up.

Most financial advisors agree that you should spend no more than 28% of your gross monthly income on housing expenses and no more than 36% on total debt. That includes housing as well as things like student loans, car expenses, and credit card payments.

The 28/36 percent rule is the tried-and-true home affordability rule that establishes a baseline for what you can afford to pay every month. To calculate how much 28% of your income is, simply multiply your monthly income by 28.

If your monthly income is $6,000, for example, the equation should look like this: 6,000 x 28 = 168,000. Now divide that total by 100. 168,000 ÷ 100 = 1,680.

Knowing what you can afford can help you take financially sound next steps. The last thing you want to do is jump into a 30-year home loan that’s unrealistic for your budget, even if you can find a willing lender.

If you want to qualify for a mortgage on your first try, it’s important to know how big of a loan you can reasonably afford. You can speak to a lender and go through a quick pre-qualification process to find out how much you can qualify to borrow and determine your budget for a home.

4). Improve your debt-to-income ratio

A high debt-to-income ratio (DTI) is the #1 reason why mortgage applications get rejected. Your DTI is all your monthly debt payments divided by your gross monthly income.

Most lenders typically offer loans to creditworthy borrowers with DTIs as high as 43-47%. That limit is based on policies by government-backed lenders like Fannie Mae, put in place to protect customers against predatory lending practices.

Simply put, the lower your DTI, the more financing options will be available to you.  If you have some flexibility on when you plan on buying, taking time to lower your DTI (and improve your credit score) can save you a lot of money over the life of your loan. 

A few DTI reduction strategies to consider:

  • If possible, pay off your car loan before applying for your mortgage.
  • If you plan on purchasing a car, considering waiting until after you’ve bought your home.
  • Start paying off your credit cards in full, one by one, but don’t close them out. 
  • If possible, refinance or consolidate current loans to reduce your monthly payments.
  • Consider adding a co-borrower with a low DTI and good credit history to your loan 

5). Consider various loan options

Not all home loans are the same. Knowing what kind of loan is most appropriate for your situation prepares you for talking to lenders and getting the best deal.

Understand how these choices affect your monthly payment, your overall costs both upfront and over time, and your level of risk. A loan “option” is always made up of three different things: loan term, interest rate type, and loan type.

Loan term 

Interest rates come in two basic types: fixed and adjustable. This choice affects whether your interest rate can change, whether your monthly principal and interest payment can change and its amount, and how much interest you will pay over the life of the loan.

With a fixed-rate loan, your interest rate and monthly principal and interest payment will stay the same. Adjustable-rate mortgages (ARMs) offer less predictability but may be cheaper in the short term. In the later years of an ARM, your interest rate changes based on the market, and your monthly principal and interest payment could go up a lot, even double.

Explore rates for different interest rate types and see for yourself how the initial interest rate on an ARM compares to the rate on a fixed-rate mortgage.

Interest rate type 

Interest rates come in two basic types: fixed and adjustable. This choice affects whether your interest rate can change, whether your monthly principal and interest payment can change and its amount, and how much interest you will pay over the life of the loan. 

With a fixed-rate loan, your interest rate and monthly principal and interest payment will stay the same. Adjustable-rate mortgages (ARMs) offer less predictability but may be cheaper in the short term. In the later years of an ARM, your interest rate changes based on the market, and your monthly principal and interest payment could go up a lot, even double. 

Explore rates for different interest rate types and see for yourself how the initial interest rate on an ARM compares to the rate on a fixed-rate mortgage.

Loan type 

 Mortgage loans are organized into categories based on the size of the loan and whether they are part of a government program (conventional, FHA, or special programs). This choice affects how much you will need for a down payment, the total cost of your loan, including interest and mortgage insurance, and how much you can borrow, and the house price range you can consider. 

Each loan type is designed for different situations. Sometimes, only one loan type will fit your situation. If multiple options fit your situation, try out scenarios and ask lenders to provide several quotes so you can see which type offers the best deal overall.

6). Shop around

You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars. Home loans are available from several types of lenders – commercial banks, mortgage companies, thrift institutions, and credit unions.

Different lenders may quote you different prices, so you’ll want to contact several lenders to make sure you’re getting the best price. You can also get a home loan through a mortgage broker with access to several lenders, giving you a wider selection of loan products and terms to choose from.

Keep in mind that brokers are not obligated to find the best deal for you unless they have contracted with you to act as your agent. Therefore, you should consider contacting more than one broker, just as you should with banks or thrift institutions.

Good agents know good lenders

Your Farmington Hills real estate agent can help you find a mortgage lender. Most agents have a plethora of lenders in their referral database, and a group of lenders that they have personally worked with before. Agents can be trusted to refer a mortgage lender with a proven record and who can close loans.  

The Real Estate Settlement Procedures Act (RESPA) prohibits agents from receiving a “thing of value” from a lender in exchange for sending you its way, and this inhibits them from entering into quid pro quo arrangements that might not be best for their clients.

Most homebuyers want their new home purchase to be handled thoughtfully. They want to close within the contract period. That scenario is more likely to happen if you use your agent’s preferred mortgage lender.

7). Pull together your financial documents  

It’s a good idea to start prepping your financial documents. Lenders will request paperwork for your mortgage application that proves things like how much money you make and your debts. 

 Depending on your financial situation, the documents you will likely need when applying for a mortgage include 2 years’ worth of tax returns, pay stubs, W-2s or other proof of income, bank statements and other assets, credit history, gift letters, photo ID, and rental history.

If you’re self-employed or have other sources of income (such as child support), you will need to show your lender proof through 1099 forms, direct deposits, or other means. 

If you have any blemishes on your credit reports such as a previous short sale or a foreclosure, be prepared to write a statement that explains any negative items. Lenders may look at one-time unavoidable circumstances differently from habitual delinquency. 

The takeaway

The more you prepare ahead of time, the easier it should be to get the loan you need on the home you want and can comfortably afford. Don’t forget to compare different loan products, such as fixed-rate mortgages vs. ARMs, and conventional loans vs. FHA loans.

Both have their pros and cons and should be carefully considered. There is no one-size-fits-all approach. Also, be sure to shop around and get rate quotes from more than one lender. By doing so, you’ll likely get a better interest rate, more favorable loan terms, and save money now and in the long term.

Speak with your Farmington Hills MI REALTORⓇ about referring a lender to you. Real estate agents who routinely close a lot of deals have experience working with multiple lenders and know which of them will deliver.

Partner with Highly-rated Farmington Hills MI REALTOR -Tom Gilliam

Whether you are interested in Farmington Hills MI homes for sale or it’s time to list your current property, experience matters most in a changing market. Serving Farmington Hills and the surrounding area for over 20 years, Tom is able to provide his clients with the kind of knowledge, skills, commitment, and personalized service they need and deserve.

An extremely down-to-earth person, Tom is someone you can trust and feel good about working with. His clients appreciate his honesty and transparency and feel it helps them as they make important real estate decisions. Tom makes himself available to his clients whenever they have questions or concerns and promptly returns any texts, calls, or emails.

Farmington Hills MI Homes for Sale 

As your Farmington Hills MI real estate agent, Tom will protect your best interests, advocate for you, negotiate on your behalf and do whatever is necessary to ensure the best results possible. Having a trusted professional like Tom by your side means there is one less thing to worry about.

To find out more about buying or selling real estate in Farmington Hills MI, or homes in the surrounding Oakland County area, please give highly-rated REALTORⓇ – Tom Gilliam a call directly at (248) 790-5594 or send him an email

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 

Farmington Hills MI Real Estate

 

 

 

Tips for Winning a Farmington Hills MI Real Estate Bidding War

Tips for Winning a Farmington Hills MI Real Estate Bidding War

Tips for Winning a Farmington Hills MI Real Estate Bidding War

After weeks, maybe even months, searching for a home in a low-inventory competitive market, you finally uncover the perfect home for your family. It’s in the right neighborhood, near top-rated schools, has the right number of bedrooms, and provides convenient access to everyday amenities. The house has everything you have been dreaming so you decide to make an offer. But, because of the current housing market, your Farmington Hills MI REALTOR® comes back with the news that several other buyers have also submitted offers on the home. Suddenly you find yourself in a situation with multiple buyers vying for the same property, otherwise known as a bidding war. 

With so few houses for sale today and historically low mortgage rates driving buyer activity, bidding wars are becoming the new norm. In a bidding war, each buyer will make a more attractive offer, often driving up the price beyond what it was listed for, in hopes of winning the home. Although bidding wars are more likely to occur during hot seller’s markets when there is less inventory for buyers to choose from, the quality of the property, the desirability of its location, and the strength of its school district can also increase the chances of a bidding war. If you do find yourself in a bidding war, there are some things you can do to make your offer more appealing to the seller than the other offers. 

Here are some things you can do to up your chances of winning in a multiple-offer situation:

Hire an experienced Farmington Hills MI real estate agent

If you are serious about winning a bidding war, it would be wise to enlist the services of a reputable, seasoned real estate agent. A qualified REALTOR® will have the experience and skills necessary to help you win in a multiple bid situation. They will also have extensive market knowledge, which is crucial in determining the fair market value of the home you’re interested in.

By enlisting the services of a Farmington Hills MI real estate agent, you can feel confident that you won’t offer more than the house is worth or more than you can realistically afford to pay for it. Your agent will give you much-needed advice and also ensure that all decisions made are in your best interest. Bidding wars can be challenging to navigate, especially if you’re a first-time homebuyer. It’s vital to do your research so you have a clear understanding of the process, the market, and the home you are interested in purchasing.

Waiving contingencies 

In a competitive market, buyers will often waive certain contingencies to make their offers more attractive to sellers. Contingencies in home buying contracts allow a way out for the buyer should there be unexpected issues with financing or defects with the property. By waiving certain contingencies—for example, your financial contingency (an agreement that the buyer will only buy the property if they get a large enough loan from the bank) or your inspection contingency (an agreement that the buyer will only buy the property if there aren’t any deal-breaker issues found during the home inspection) – you show just how serious you are about moving forward with the deal. 

Waiving contingencies can make an offer more appealing to the seller, but it can also be a risk for the buyer. If for example, you waive your inspection contingency and then find out during the inspection that the home has serious plumbing issues, you may have to sacrifice your earnest money to back out of the deal or pay for repairs once the title has been transferred. Although waiving one or more contingencies in a multiple offer situation could be the extra push needed to get the house you want, it ultimately comes down to how much risk you feel comfortable with.

There a number of different contingencies, but the three most common include the financing contingency, inspection contingency, and appraisal contingency: 

1). Financial contingency

One common strategy used to make an offer stand out from the competition is to waive your financing contingency. In a home sale and purchase agreement, financing contingency refers to a clause that states the offer is contingent upon the buyer securing financing for the property – a standard feature in most Offers and Purchase and Sales Agreements. If your mortgage is not approved for the amount of financing you need, the seller agrees to refund your deposit in full.  During a bidding war, waiving your financing contingency sends the message that you are confident you will get the loan no matter what.

With a clear picture of your finances and enough money in reserve, you can safely waive the financial contingency with minimal risk on your end. Of course, if you are paying for the home in cash, then financing is not an issue and you can exclude the financing contingency in your offer. Not only are you eliminating the need for a third party to get involved in the deal, but you’re also showing the seller that you mean business. There is a risk any time a lender has to get involved, so when you eliminate their presence, you eliminate the risk. 

2). Inspection contingency

In a standard real estate agreement, the buyer retains the right to back out of the contract if they find unacceptable issues with the property. This contingency allows the buyer to hire a home inspector to survey the home for damages before the deal closes. If major issues are discovered during the inspection, the buyer has the right to negotiate with the seller for repairs or back out of the deal. One safe way to waive your inspection contingency is to have a pre-inspection done on the property before ever making an offer.

If the report doesn’t reveal any serious issues, you can confidently waive the contingency with minimal risk. When a seller accepts an offer, their home is off the market. In a competitive market, the last thing the seller wants is to be waiting for an extended period of time for the inspection to happen. Make the contingency period no more than a week. If the home looks well maintained visually, it may be worth the risk to waive the inspection if you are confident you want the house no matter what. To minimize risk, the decision to waive inspection contingency should be made carefully and with the guidance of your real estate agent. 

3). Appraisal contingency

When an offer is accepted on a home, the lender will come out and appraise the property to determine its value. Mortgage lenders use appraisals to calculate the loan amount they will give buyers. If the appraisal falls short, the appraisal contingency lets the buyer cancel the contract rather than make up the difference in cost themselves.  If you waive this contingency, you are still responsible for purchasing the home if the loan does not work out – or you may be able to back out of the contract but lose your deposit. It is also possible the seller will decide to sue you if you break the contract.

That being said, more buyers these days are willing to waive appraisal contingencies to enhance their offer in a bidding war. Compared to a fully mortgage-contingent buyer, waiving the appraisal contingency is more attractive from the seller’s point of view because they have more certainty the deal is going to get done no matter where it appraises at. 

Waiving contingencies risk: Yes, there can be risk associated with waiving contingencies, but depending on the circumstances, a buyer might be in a position to do so.  When considering whether to waive contingencies, speak with your estate agent. They will be able to help you decide what’s best for you and help you determine if you are in a position to take on that risk. Your Farmington Hills MI REALTOR’s knowledge of normal practices and probable outcomes in the local market will make your offer more likely to succeed.

Up your offer

If you are set on winning a bidding war on a Farmington Hills MI property, your best bet is offering more money than the other buyers. Upping your offer doesn’t have to mean paying another ten thousand dollars or more. Sometimes, going up just a few thousand dollars can make all the difference between winning the bid on a property or losing out on it. One important thing to keep in mind when upping your offer is that just because you are ready to pay more for a house doesn’t mean the bank is. When it comes to your mortgage, you are still only going to be able to get a loan for up to what the house appraises for. So, if your higher offer gets accepted, that extra money might be coming out of your own pocket.

Pay in cash

This obviously isn’t going to apply to everyone, but if you have the cash to cover the purchase price, offer to pay it all upfront instead of getting financing. Not only are you eliminating the need for a third party to get involved in the deal, but you are also showing the seller that you mean business. Sellers typically prefer dealing with a buyer who can pay cash because they don’t have to worry about a potential buyer actually receiving the financing they need. There’s a risk any time a lender has to get involved and when you eliminate their presence, you eliminate the risk. According to a Redfin analysis of home sales over the past two years, buying a home without financing boosted a buyer’s chance of winning a bidding war by 97%.

Include an escalation clause

An escalation clause can be an excellent asset when trying to win a bidding war. An escalation clause is an addendum to your offer that states you’re willing to go up by X amount if another buyer matches your offer. More specifically, it dictates that you will raise your offer by a specific increment whenever another bid is made, with a cap. if winning a bidding war on a home is the end result you are looking for, there’s nothing wrong with putting it all on the table and letting a seller know how serious you are. Work with your agent to come up with an escalation clause that fits with both your strategy and your finances.

Be flexibility

The date of possession is often an important part of the offer in a multiple bid situation. Typically, the closing period lasts 30, 45, 60, or 90 days. Customizing the length of the closing to suit the needs of the seller can often help clench the deal over a higher offer. Sellers almost always want fast closings, usually 30 days. If the seller needs to coordinate selling with buying another home, or moving in a short amount of time, giving them the close date they want can often be the difference in getting the house or not.

If the seller needs a rent-back, you can offer to allow them to stay in the property after the close of escrow. Depending on the circumstances, you might charge them what your PITI (principal, interest, taxes, and, insurance) payment is or the local market rent rate. You can even consider giving it to them to enhance the terms of your offer, depending on the situation.

The takeaway

Bidding wars can be challenging to navigate, especially if you’re a first-time homebuyer. It’s vital to do your research so you have a clear understanding of the process, the market, and the home you are interested in purchasing. Finding experienced representation is the best way to ensure a smooth and successful transaction in a multiple offer situation.  If you are a first-time buyer or even a seasoned buyer, you should seriously consider working with a qualified Farmington Hills MI real estate agent you can trust, and carefully listen to their advice.

 

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

Whether 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. Top-rated Farmington Hills REALTOR® – Tom Gilliam offers over 20 years of local experience, in-depth market knowledge, and access to the most up-to-date listings for Farmington Hill MI homes for sale. Known for his professionalism and care for every detail, Tom is an expert at uncovering the perfect home for his clients’ lifestyle needs in the right neighborhood or community.

2020 Best of Farmington Hills REALTOR - Tom Gilliam

If you are ready to sell your home, Tom will create a comprehensive marketing plan 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, etc.

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 property will also be featured on Tom’s own highly-trafficked website Homes2moveyou.com. You can be assured that your home will get sold quickly and for the highest market price.

Search Farmington Hill MI Homes for Sale

Tom works very hard for his clients. He will be there to protect your interests, advocate for you, negotiate on your behalf, and do whatever it takes 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 top-rated Farmington Hills MI REALTOR® – Tom Gilliam a call today 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

 

 

Why You Should Consider Buying a Home in Farmington Hills, MI

Why You Should Consider Buying a Home in Farmington Hills, MI

Why You Should Consider Buying a Home in Farmington Hills, MI: If you are currently in the market to purchase a home in the metro Detroit area, you’ll want to explore real estate listings in Farmington Hills. A wealthy suburb of Metro Detroit, Farmington Hills is situated in the southern part of Oakland County, MI, about 30 miles northeast of downtown Ann Arbor.

Farmington Hills was recently ranked as the fifth-best city in the state to live in Michigan and is currently home to approximately 81,230 people. Known for its strong sense of community, charming, historic downtown, and award-winning school system, Farmington Hills is a great place to buy a home and raise a family.

The wide range of affordability from entry-level homes to multimillion-dollar estates provides abundant opportunities for families to live in Farmington Hills and enjoy a quality lifestyle with top-rated schools. In order to find the perfect home in the right neighborhood, buyers will want to partner with an experienced real estate agent.

Tom Gilliam is an award-winning, professional Farmington Hills MI REALTOR® with over two decades of local experience. Offering extensive local market-knowledge, Tom can help you explore options and make the best home purchase decision. If you are ready to start searching for your dream home in Farmington Hills, feel free to call Tom directly at (248) 790-5594 or you can get in touch here!  


On our website, you’ll be able to search real estate listings in Farmington Hills –  updated daily! You can view photos of available properties, find detailed real estate information, create a free account, receive notifications of new listings that match your specific home criteria delivered directly to your email, and access to current market data. Also, be sure to scroll down below to learn more about Farmington Hills homes for sale and living in this desirable metro Detroit suburb: 

Search Farmington Hills MI Homes for Sale

As a top-rated Farmington Hills real estate agent, Tom keeps his finger on the pulse of the market at all times and is the first to know when new inventory becomes available, ensuring that his buyers have access to the best homes and securing an offer. 

Tom offers the kind of local market knowledge and insight into the different neighborhoods and communities in Farmington Hills that that few other agents can provide. He can inform you about the types of homes and features offered, school districts, surrounding area amenities, local community developments, and much more.

Streamline your home search by having Tom put together a list of Farmington Hills homes for sale that are the best fit based on your specific criteria in a home. Get the process started today by contacting Tom directly at (248) 790-5594 or get in touch with him here!  

Living in Farmington Hills, MI

Boasting a healthy local economy and steady job growth, Farmington Hills is home to a number of major corporations such as Nissan Technical Center and Nissan Trading Corp. 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.  

Historic Downtown Farmington Hills

 Charming and Historic Downtown Farmington

Downtown Farmington is a charming, walkable destination with over 160 businesses from banks, to photography and yoga studios to one-of-a-kind shops along with a variety of local eateries. Also located downtown is Riley Park and Walter E. Sundquist Pavilion, home to the popular Farmington Farmers & Artisans Market that is held every Saturday. The best-known park event is Rhythmz in Riley Park, attended by about 500 people every Friday between the months of June and August.  

Search Farmington Hills MI Real Estate Listings

Located less than 6 miles away in Novi is Twelve Oaks Mall, the dominant shopping destination of choice of metro Detroit. The mall features nearly 200 distinctive stores and restaurants such as 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. School districts serving a smaller portion of the community include Clarenceville Public Schools and Walled Lake Consolidated Schools.

In addition, Farmington Hills has several private schools: 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 of higher learning include branches of Michigan School of Psychology, Oakland Community College mi, and Wayne State University.

Heritage Park in Farmington Hills MI

Heritage Park in Farmington Hills

Farmington Hills has plenty of neighborhood and community parks offering a vast array of amenities. Parks and facilities in Farmington Hill include Costick Activities Center, Dog Park, Fishing Pier, Founders Sports Par, Golf Club & Driving Range, Heritage Park, Ice Arena, Jon Grant Community Center, Longacre House, Nature Center, Riley Archery Range, Skate Park, Splash Pad, and The Farmington Hills Community Center.

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. The park features 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. 

The Great Lakes are the dominant physical resource in the region and a number of inland lakes reinforce the popularity of water sports and water-based activities. Lake St. Clair, the Detroit River, and Lake Erie are all within an hour’s drive of Farmington Hills and attract boaters, swimmers and fishermen. The Upper Rogue River flows from Farmington Hills southward through the north and eastern portions of the City. 

 Farmington Hills MI Golf Club

Farmington Hills Golf Club 

For golf enthusiasts, the Farmington Hills Golf Club’s pristine 175-acre 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. Other golf courses in Farmington Hills include Copper Creek Golf Course (9 holes) and Glen Oaks Golf Course (9-holes).

Several major highways service the city. Grand River Avenue is a major east-west corridor through downtown Farmington. I-696 is about three miles north and I-275 about three miles west. The M-5 Freeway runs through the City and Eight Mile Road is on the southern border. Because of the excellent highway system, most sections of the metropolitan area are readily available to Farmington’s residents.

Suburban Mobility Authority for Regional Transportation (SMART) operates local and regional bus service for Farmington Hills. The closest major airport serving the city is Detroit Metropolitan Wayne County Airport located 30 miles from the center of town.  

Partner with Award-winning Farmington Hills REALTOR® – Tom Gilliam

2020 Best of Farmington Hills REALTOR - Tom GilliamWhether you’re in the market for Farmington Hills MI homes for sale or its time to list your current property, you need an agent who knows the area, processes a vast network of local connections, and has the skills and experience to negotiate like a pro.

Tom will protect your best interests, advocate for you, and skillfully handle all aspects of the buying process. With access to the most up-to-date Farmington Hills real estate listings, Tom has a gift for uncovering the perfect home for his clients’ lifestyle needs.

For sellers, Tom employs the most cutting-edge approaches to marketing your home to get it in front of as many qualified buyers as possible. You can be assured that Tom will get your home sold quickly and for the best price. 

Search Homes for Sale in Farmington Hills MI  

Tom works hard for his clients and provides the kind of personalized service you need a deserve when buying or selling a home. If you or someone you know is interested in Farmington Hills MI real estate, please give Tom Gilliam a call today at (248) 790-5594. 

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

Map of Farmington Hills, MI

New Construction Homes for Sale Farmington Hills Michigan

new-construction-homes-farmington-hills-mi-862×517

NEW CONSTRUCTION HOMES FOR SALE FARMINGTON HILLS MICHIGAN

Welcome to New Construction Homes for Sale Farmington Hills Michigan! 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 for sale Farmington Hills Michigan 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 for sale Farmington Hills Michigan, 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 for sale Farmington Hills Michigan.  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 for sale Farmington Hills Michigan

$2,200,000
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
$1,470,000
Single Family Home For Sale
Active
5
BEDS
9
TOTAL BATHS
6,497
SQFT
36933 Howard Road
Farmington Hills, MI 48331
 
New Listing - a week online
$1,200,000
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
New Listing - 3 weeks online
$1,195,000
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
$950,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
4,917
SQFT
34600 Quaker Valley Road
Farmington Hills, MI 48331
Quaker Valley Farms Add 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
$929,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
3,500
SQFT
28910 Wintergreen
Farmington Hills, MI 48331
Halsted Estates Condo Occpn 1906 Subdivision
$879,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
3,200
SQFT
29919 Stanhurst Road
Farmington Hills, MI 48331
Hunter'S Pointe Colony Sub Subdivision

new construction homes for sale Farmington Hills Michigan

Developed by Windmill Homes, Forest at Wooddale and Halsted Hollow North are brand new developments featuring new construction homes for sale Farmington Hills Michigan. 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 for sale Farmington Hills Michigan, 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

STAY INFORMED OF MARKET CHANGES

SIGN UP FOR OUR NEWSLETTER

QUICK SEARCH

Price
Beds
Baths
For Sale / All Types

Search Farmington MI New Home Listings

new-construction-homes-farmington-hills-mi-862×517

SEARCH FARMINGTON MI NEW HOME LISTINGS

Search Farmington MI New Home Listings! 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 search Farmington MI new home listings and find an impressive selection of homes 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 how to search Farmington MI new home listings, feel free to call Tom directly at (248) 790-5594 or you can get in touch with him here!

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

search Farmington MI new home listings

$2,200,000
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
$1,470,000
Single Family Home For Sale
Active
5
BEDS
9
TOTAL BATHS
6,497
SQFT
36933 Howard Road
Farmington Hills, MI 48331
 
New Listing - a week online
$1,200,000
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
New Listing - 3 weeks online
$1,195,000
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
$950,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
4,917
SQFT
34600 Quaker Valley Road
Farmington Hills, MI 48331
Quaker Valley Farms Add 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
$929,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
3,500
SQFT
28910 Wintergreen
Farmington Hills, MI 48331
Halsted Estates Condo Occpn 1906 Subdivision
$879,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
3,200
SQFT
29919 Stanhurst Road
Farmington Hills, MI 48331
Hunter'S Pointe Colony Sub Subdivision

search Farmington MI new home listings

Developed by Windmill Homes, Forest at Wooddale and Halsted Hollow North are brand new developments featuring Farmington Hills MI homes for sale. 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 search Farmington MI new home listings, 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

STAY INFORMED OF MARKET CHANGES

SIGN UP FOR OUR NEWSLETTER

QUICK SEARCH

Price
Beds
Baths
For Sale / All Types

Search Farmington Hills MI New Homes For Sale

new-construction-homes-farmington-hills-mi-862×517

SEARCH FARMINGTON HILLS MI NEW HOMES FOR SALE

Search Farmington Hills MI New Homes For Sale! 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 search Farmington Hills MI new homes for sale and find an impressive selection of homes 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 how to search Farmington Hills MI new homes for sale, feel free to call Tom directly at (248) 790-5594 or you can get in touch with him here!

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

Search Farmington Hills MI new homes for sale

$2,200,000
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
$1,470,000
Single Family Home For Sale
Active
5
BEDS
9
TOTAL BATHS
6,497
SQFT
36933 Howard Road
Farmington Hills, MI 48331
 
New Listing - a week online
$1,200,000
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
New Listing - 3 weeks online
$1,195,000
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
$950,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
4,917
SQFT
34600 Quaker Valley Road
Farmington Hills, MI 48331
Quaker Valley Farms Add 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
$929,000
Single Family Home For Sale
Active
4
BEDS
3
TOTAL BATHS
3,500
SQFT
28910 Wintergreen
Farmington Hills, MI 48331
Halsted Estates Condo Occpn 1906 Subdivision
$879,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
3,200
SQFT
29919 Stanhurst Road
Farmington Hills, MI 48331
Hunter'S Pointe Colony Sub Subdivision

Search Farmington Hills MI new homes for sale

Developed by Windmill Homes, Forest at Wooddale and Halsted Hollow North are brand new developments featuring Farmington Hills MI homes for sale. 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 search Farmington Hills MI new homes for sale, 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

STAY INFORMED OF MARKET CHANGES

SIGN UP FOR OUR NEWSLETTER

QUICK SEARCH

Price
Beds
Baths
For Sale / All Types

Pin It on Pinterest