Selling Your Farmington Hills MI Home? Pricing it Right is Key 

Selling Your Farmington Hills MI Home? Pricing it Right is Key 

Selling Your Farmington Hills MI Home? Pricing it Right is Key 

Pricing your home correctly can be the single most important factor when you’re selling your Farmington Hills MI Home. In today’s market, high buyer demand and fewer homes make it an optimal time to sell for those who are ready to do so. Many homes on the market are selling above the asking price at a record rate. According to a recent Realtors Confidence Index Survey from the National Association of Realtors (NAR):

  • Homes typically sell within 17 days (compared to 26 days one year ago).
  • The average home sold has 5 offers to pick from 
  • 54% of offers are over the asking price 

You can add about 10 percent to a comparable sale in a sellers’ market since inventory is limited and buyers are competing for fewer homes, according to Zillow. It’s also common for homes to sell for more than 100% of the list price in a seller’s market. 

Setting the right asking price

In a hot sellers’ market, it may be tempting to price your Farmington Hills MI home on the high side to capitalize on this trend, but a higher asking price doesn’t mean you’re going to cash in big on the sale.  Setting a higher price is likely to deter potential buyers, cause your home to sit on the market longer (never a good thing), and require a price drop that may cause prospective buyers to question why.

Instead, focus on setting the right price from the start by pricing your house based on its current condition and similar homes that have recently sold in your neighborhood or area. Review expired listings from your area to gain insights on pricing your home to sell. Compare original list prices of recently sold homes with their final sale prices. Did it take many price cuts to get a sale? Perhaps it was overpriced, to begin with?

By setting the right asking price, you will increase your home’s visibility, which in turn drives more buyers to your front door. The more buyers that are interested in your home, the more likely you’ll have a multi-offer scenario. When multiple buyers compete for your house, that sets you up for a bidding war and a bigger return. 

Don’t let your asking price lump you in with the competition

Price banding is the practice of looking over current inventory in your neighborhood and finding a less crowded price point. Prices tend to get bunched up as sellers try to price their homes competitively. For example, if there are 3 homes in your neighborhood that are priced between $284,000 and $286,000, and the next set of homes start at $290,000 and up, you should take advantage of the wide-open $280,000 price band. Once you know your home’s value and have a price range in mind, it’s time to nail down the final “list” price.

Price for common online search ranges

Consider the price range your home will fall into on popular online real estate websites. Most buyers have a price range they are considering or can afford. A buyer looking at homes in the $380,000 to $400,000 range will likely not see your home if it’s listed at $405,000. But, if you choose a home listing price of $399,999, it’ll show up in their search results, and they just might end up being your buyer. While this scenario happens frequently, many savvy agents will set up search parameters for their buyers to include properties listed a little bit more above their price ceiling.

Knowing how flexible home prices can be, buyers should be made aware of properties that could be a good match for them, even if those homes are above (but within a reasonable range of) what they want to pay.  An experienced Farmington Hills MI REALTOR® can help you set a price that’s realistic and obtainable.

They can provide you with a CMA, which is a compilation of recent sales from your area. It takes into consideration home details, days on the market, and final sale price. Real estate agents are used to providing comps to potential clients, and may not even need to step foot in your home.  

Handling a bidding war

Bidding wars most often happen when the housing market has limited inventory and when there is more than one potential buyer making an offer on a home. These buyers end up competing to become the new owner of the property by increasing the price of their offer, often pushing the price higher than the original property value. 

A badly managed bidding war can end in disappointment for the seller if the potential buyers feel misled or used. No one wants their offer to be shopped around. Keep in mind that even if one party is offering you more money than another, it might not be the best offer. Money is money, but a cash offer is generally stronger than an offer that comes with financing.

An offer that includes a mortgage will take longer to close than a cash deal, and if the buyers’ financial profile is at all questionable, there’s a chance they might not secure their financing. It’s possible that the second-highest bidder might have a more straightforward and simple financial profile, and thus be more of a slam dunk to make it to the closing table.

Leave the door open with your backups. In a competitive bidding situation, buyers can become overly enthusiastic, get caught up in the moment, and bid above their comfort level. They may even walk away due to buyer’s remorse or a reassessment of value while the contract is being drawn up.  

The takeaway

Find the right list price for your home by working with a Farmington Hills MI REALTOR® who’s an expert in your area. By using their comparative market analysis, you can price your home to sell fast and for more money. In a sellers’ market, where bidding wars are common, properly handling the process is paramount and an experienced real estate agent should be able to guide you.

Partner with REMAX Farmington Hills REALTOR® -Tom Gilliam

Whether you are interested in buying a home in the area or selling your Farmington Hills MI home, take advantage of Tom’s 17-plus years of experience as a top-rated RE/MAX Farmington Hills MI REALTOR®. For buyers, Tom will help you find the perfect home for your lifestyle needs in the right neighborhood. For sellers, Tom will get your home sold fast for the best price. 

Tom will look out for your best interests, advocate for you, negotiate on your behalf, and do whatever it takes to ensure a smooth and successful transaction. Get the process started today by calling Tom directly at (248) 790-5594 or get in touch by email.

  

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

Selling Your Farmington Hills MI Home? Buyers Want Home Office Workspace

Selling Your Farmington Hills MI Home? Buyers Want Home Office Workspace

Selling Your Farmington Hills MI Home? Buyers Want Home Office Workspace

Although there’s been a significant uptick in buyer demand for home office space in the market, working-from-home was already a growing trend well before the pandemic. Statistics show that as of 2018, there were 4.3 million remote workers in the U.S., which was an increase of 140% since 2005. 

Both employers and employees are realizing many of the benefits that come from working from home. And workforce analysts predict that by the end of 2021, as many as 30% of all employees will still be working from home at least part of the week.

As a growing number of companies are requiring or offering the option to work from home, more Farmington Hills MI home buyers are including home office space on their must-have checklist. 

In response to the demand, sellers are now positioning extra space in their home as a “home office” or “workspace” to market their Farmington Hills MI property, anREALTORS® say they’ve seen a notable increase of home offices mentioned in listings.  

Add value to your home and attract buyers 

In a realtor.com® survey, 63% of respondents indicated that they plan to buy a new home in light of their ability to work from home. On average, listings featuring a home office command a 3.4% price premium and sell nine days faster than listings without one, according to realtor.com data.

Many REALTORS® agree that showcasing a dedicated work area can help attract more buyers to your property. Most homeowners don’t have the luxury of having a specific room dedicated as a home office. Work areas at home often consist of a desk and computer sharing space in a guest room with a bed or exercise equipment.

If you are preparing to put your home for the market, why not stage a multi-functional room like this into a home office instead? Showing buyers that your house has room for an office, even if it’s a shared space in your kitchen or living room, can add value to your home in their eyes.

Cost of building a home office and ROI

According to HomeLight research, to build a new home office, homeowners can expect to spend an average of $12,000, but they will get an approximately 87% return on that investment when it comes time to sell.

Before getting started with any renovations or improvements, it’s best to consult with a Farmington Hills MI real estate agent to get their advice and guidance on maximizing your home’s value for resale in your area.

Will converting a bedroom into a home office boost the resale value of your home?  

If you don’t have an official home office, you might be looking around your house, wondering which room could be converted into a workspace. Keep in mind that while buyers are looking for home office space, bedrooms and bathrooms rule the day to boost resale value. 

Most buyers would much rather have four bedrooms than have three bedrooms and an office. Rather, look for opportunities to create dual-purpose spaces.

Since you’re probably not entertaining many guests during the pandemic, now’s a great time to create a combination guest room/office. Remove the bed, and replace it with a sleeper sofa or love seat. 

Transforming an unused area of your home into a workspace

Take a look around at any unused areas in your home, and you’ll probably be able to find a place to create a workspace that buyers will covet. A finished, walkout basement could be turned into a comfortable and private workspace. Or, a nook underneath the staircase or unused space at the top of a staircase could make a compact office.

Setting up a workspace in the kitchen, which is usually the central hub of a home or in a noisy TV room isn’t likely to appeal to many potential buyers. It’s best to choose a room with adequate space that’s far from the main living spaces and not frequented by family members or guests.

Try carving out space in another area such as the dining room. Keep the dining table, but remove the buffet or the leaves in the table and extra chairs to make room for a chair and desk. You are not eliminating the dining room – merely suggesting to buyers how the room can be repurposed further to suit an office.

If you have no choice but to set up a home office space in the main living area, present it in the most appealing way possible. Try separating the work area from the rest of the room with a folding screen, partition wall, curtain, or even tall houseplants like a Fiddle Leaf Fig tree or a potted Dracaena.

Choose a free-standing desk to fit the space without overwhelming it. Or, consider a wall-mounted desk that takes up less space. Keep the area neat and tidy, bundle up any loose cords or wires, and Illuminate a poorly lit work zone with a small desk lamp.

Staging your home office 

If you already have a dedicated home office, staging it will create a functional and organized space that buyers are looking for at this time.  As with all staging, start with a clean and clutter-free space, void of personal objects. Stage your home office by storing supplies out of sight.

Hide office supplies inside desk drawers or stash them inside a storage cabinet. Once you’ve decluttered, depersonalized, and cleaned your office space, you can begin the fun part of staging it. The desk should be featured prominently in the room as it’s the main component.

Neutral colors create a relaxing work environment. Choose a neutral color scheme in calming colors, like beiges, whites, soft grays, greens, or blues. Task lighting is a must in every home office. A lamp for the desk should be bright enough to illuminate your workspace, but not blinding.

And with the growing number of meetings now taking place by way of video conferencing, you’ll want to ensure the lighting is suitable for being on camera. Additionally, place a large area rug beneath the desk area and chair to warm up and add color and texture to the space.

You can also add some live green plants and fresh flowers, and place a tall, big-leafed plant in an empty corner to bring life into the space.

The takeaway

With so many people now working remotely, the demand for a home office or workspace is on the rise. If you are planning on selling your Farmington Hills MI home and already have a home office, now’s the time to promote it. If you don’t have a dedicated home office, create and stage a workspace in another area of your home that will bring in the buyers and seal the deal!

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

With over 20 years of real estate experience, Tom Gilliam is proud to be a trusted Farmington Hills MI REALTORⓇ – offering his guidance and expertise to area home buyers and sellers. Tom understands that buying or selling a home is a significant financial and life decision and that you are looking for someone you can trust and work with.

If you are ready to list your current property, Tom can help determine the market value of your home and make suggestions on how you can command a higher asking price.  As your agent, he will protect your best interests, advocate for you, pull together all the details of the transaction, and get your home sold quickly for the highest market price. Feel free to contact Tom directly at (248) 790-5594 or you can get in touch by 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

Article sources:

https://www.homelight.com/blog/building-a-home-office/
https://globalworkplaceanalytics.com/telecommutingstatistics
https://startupsavant.com/news/home-buyers-add-office
https://www.onlinehsa.com/how-a-home-office-increases-appeal-to homebuyers/
https://www.tepilo.com/blog/2017/09/
why-broadband-speed-is-becoming-so-important-for-property-buyers
https://www.newhomesource.com/learn/design-home-office/

How to Increase The Resale Value of Your Oakland County MI Home

How to Increase The Resale Value of Your Oakland County MI Home

How to Increase the Resale Value of Your Oakland County MI Home

As the housing market continues to rebound, amid the pandemic, would-be sellers should think twice before skipping on updating areas of their home in need of serious upgrades. With housing inventory low and demand steadily increasing, Oakland County MI homebuyers are still willing to spend big on homes with quality finishes in sought-after neighborhoods. Whether you are thinking about putting your Oakland County MI home on the market this year or in the next couple of years, it’s a good idea to start building your home’s resale value now. 

Small maintenance and repairs

If you think that home maintenance on the weekend is a waste of your time and energy – well, it’s not. The small chores that you do around your home today actually prevent it from losing value. A little TLC maintenance goes a long way toward warding off expensive repairs. Most appraisers claim that homes showing little to no preventative maintenance can depreciate from $15,000 to $20,000.

A study conducted by researchers at the University of Connecticut and Syracuse University reveals that regular maintenance can boost your home’s value by about 1% per year. However, ongoing maintenance costs offset that value, which means that regular maintenance actually slows down your rate of depreciation. 

Most homebuyers generally notice any repairs needed upon buying a home. Proactive maintenance lets potential buyers know they won’t need to spend extra cash to maintain the basics – making your Oakland County MI real estate more attractive and more likely to get higher-priced offers. Although maintaining the basics can cost you a little money and certainly some effort, there is a way to accomplish this very important activity intelligently.

Many Professional home appraisers and REALTORSⓇ recommend a proactive maintenance schedule that includes keeping enough cash on hand to replace systems and materials; creating and following a maintenance schedule; planning a room redo every year; and keeping a notebook of all your maintenance and repairs.

Landscaping

Landscaping can add tens of thousands of dollars to the value of your Oakland County MI property. In fact, it is one of the few home improvements you can make that not only adds value immediately but also increases in value as the years go by as plants grow fuller and more robust as the years go by. 

A well-landscaped home has a significant price advantage over a home with no landscaping. This advantage ranges from 5.5 percent to 12.7 percent depending on the type of landscaping and the home’s original value. That translates into an extra $16,500 to $38,100 in value on a $300,000 home.

Having a long-term landscaping plan is great if you’re in the house for the long term. However, If you are planning to sell within a year, you can take several immediate steps to dress up your landscape and boost your selling price. For example, cutting fresh edges around your planting beds; having a sharp, well-defined edge between grass and mulch or dirt gives the landscape a professional look.

Replacing Your front (entry) door 

So how much value does a new front door add? According to Remodeling magazine, replacing your entry door has an average ROI of 74.9% With that ROI, you could potentially add three-quarters of the front door cost back into your home’s value. You could even add more value to your home, depending on the type of door you get and other adjustments you make to your home’s curb appeal.

With that ROI, you could potentially add three-quarters of the front door cost back into your home’s value.  A new door adds value in several ways: It attracts potential buyers, replaces an old worn-out door, prevents drafts, and welcomes visitors to your home. 

Popular front door color options include:

  • Black gives your home anything from a sleek and modern look to a more traditional touch. It can also provide the best resale value for your home because it is such a versatile color.
  • White is another versatile shade that goes with classic or contemporary facades. It doesn’t draw as much attention, though, but it would be a safe option.
  • Navy blue can be sleek or traditional, depending on the rest of your home. If a black door wouldn’t complement your home’s exterior, consider navy blue instead.
  • Yellow is a cheerful color that’s sure to attract attention. It’s more of a gamble to go with this color since not every potential buyer will like it.
  • Red is eye-catching. A red front door adds a traditional look to your home, and you can tone it down with a burgundy color if true red seems too bright.

Also consider leaving your front door its natural wood tone, which can give your home a warm and inviting appeal that complements other features of the exterior.

Replacing your garage door 

Initially, you might not think that your garage door increases the value of your home. However, as the largest entryway of your home, the garage door gets noticed first because it’s the focal point of your house. Your garage door distinguishes your home from the other houses on your block. If you want to quickly increase the resale value of your home, you’ll want to make the most of this feature. 

According to Remodeling Magazine’s 2020 Cost vs. Value Report, replacing your garage door has an average ROI of 97.5%, and ranked number two when compared to 21 other home improvements. The report’s data came from across 101 US markets and focused on the ROI at the time of sale. If you are planning on selling your home and have to decide between different renovations, consider a new garage door for the most added value.  

Another 2018 industry study examined real estate agents’ estimates of perceived home value based on exterior appearance. Respondents were also asked if garage door appearance made a difference in the listing price they would assign to a house. The study indicated that a new garage door could result in up to a 4% increase in a home’s perceived selling price, which is an $8,000 bump on a $200,000 home.

 A few interesting things being done with garage doors include:

  • Increased Size: Bigger garage doors help homes stand out more, and homeowners can do more creatively with them.
  • Bold Colors: Bright and bold colors now can complement the color of your home, or you can build a concept around the color of your home.
  • Faux Wood: You can install fiberglass or steel garage doors that look like wood garage doors. This gives your home a new level of sophistication.
  • Windows: Large Windows on your garage door improve the aesthetic of your home, and provide light into your garage so that it’s no longer a dark space

Installing fiberglass attic insulation

While energy efficiency is still not the sexiest selling point of your home, installing fiberglass attic insulation saves energy and provides a big payback on your investment. According to Remodeling Magazine’s Cost vs. Value top trends report, fiberglass attic insulation gained the top return on investment among the 30 projects in this year’s report. 

The national average ROI in the U.S. for a fiberglass insulation upgrade is a whopping 116.9%, meaning this upgrade more than pays for itself. The average national cost of installing blown-in insulation in an attic is $1,268, and the average of a home’s retail value increase for this project is $1,482, according to Remodeling Magazine’s Cost vs. Value report.

Replacing your windows

Replacing your windows is another way to save energy and increase your home’s resale value. Window replacement is consistently listed as a top ten home improvement project that increases home resale value. If you spend $15,000 to replace your home’s windows, your home could rise in value by $11,000, which is an ROI of 74%. Replacement windows offer homeowners the chance to update the look of their homes.

You might consider investing in some custom window shapes to add architectural interest or amp up the natural light. The options and ability to customize with replacement windows are endless. Replacement windows will also increase your overall energy efficiency. From Low-E glass to UV and solar blockers, window technology is continuously evolving to make homes look good while saving on energy costs. According to HGTV, you will see a reduction in your utility bill from 7% to 15%.

Replacing the windows can help your Oakland County MI home stand out in the market and increase your home’s value before you list it. And since most buyers are looking for houses that are not only move-in ready but updated with modern amenities, new windows can help improve your home’s resale value and marketability.   

Remodeling your kitchen

Since the kitchen is central to the home and commonly used by families, it’s one of the first things many house hunters look at. Whether you’re renovating your kitchen to help your home sell or to create the kitchen of your culinary dreams, there’s some planning and budgeting you’ll want to do first. Remodeling your entire kitchen can get expensive, but small renovations can make your home more buyer-friendly.

According to HomeAdvisor, the average cost of remodeling your kitchen ranges from $13,343 – $37,701. How do you know what a realistic budget is for your kitchen renovation? A good rule of thumb is to spend 5% – 15% of your home’s total value on your kitchen renovation. For example, if your house is valued at $200,000, a decent kitchen renovation budget would be 10% of that value, so about $20,000.  

Bathroom addition or remodel

When thinking about selling, many homeowners consider areas in their home that might need a little pre-listing TLC, and bathrooms are commonly on the list. In fact, 26% percent of sellers make some sort of improvement to a bathroom before selling, according to the Zillow Group Consumer Housing Trends Report 2018.

Remodeling a bathroom before resale can help attract more buyers, but getting every dollar invested back at the time of resale is not guaranteed. Zillow data shows that bathroom remodels yield the biggest returns in terms of boosting your home’s resale value. For minor cosmetic changes, you’ll see a $1.71 increase in home value for every $1 you spend. This includes things like painting and refinishing cabinets, swapping out the mirror, or upgrading hardware. In most cases, a renovation will be cheaper than an addition.  

The cost for adding a bathroom can vary widely based on a number of factors. The lowest cost is going to be around $3,000. This is a good estimate if you’re taking an area that you already have all marked out that has all the necessary components. If you need to add an entirely new space totally from scratch, the cost will be closer to $25,000.

It’s important to note that you’ll get diminishing returns in terms of value if you already have a house that is among the highest in value of any other on your street. The conventional wisdom on this is that you’ll add about a fifth to your house’s value, in general, if you add a full bath. If you add a half bathroom, then you’ll get about a tenth of the value added on.

The takeaway

No matter if potential buyers view your Oakland County MI property in-person or virtually, you’ll want to make sure it’s in top condition when it comes time to sell. If you want to get the most return on your investment, focus on features that most home buyers really want to see. Knowing design trends will give you the opportunity to make changes to your home based on where your needs and your potential buyer’s desires come together – greatly increasing your home’s value. 

Consumer tastes can vary by region, so be sure to consult with your Oakland County real estate agent to find out which home features are in high demand in your area, advises Dr. Jessica Lautz, vice president of demographics and behavioral insights for the National Association of REALTORSⓇ. Your agent will be able to help you make the most informed choices when it comes to remodeling or renovating your home.  

When you’re ready to list your home, contact Oakland County REALTOR – Tom Gilliam to help you navigate the competitive Oakland County MI real estate market. Tom can help determine the value of your home and also make suggestions on how you can command a higher asking price.   

Partner With one of the Most Trusted REALTORS® in Oakland County MI – Tom Gilliam 

Tom Gilliam is proud to be one of the top-rated REALTORS® in Oakland County MI, offering his guidance and expertise to home buyers and sellers for over 20 years. Tom understands that buying or selling a home is a significant financial and life decision and that you are looking for someone you can trust. As your agent, Tom will protect your interests, advocate for you, negotiate on your behalf, and will always go the extra mile to ensure the best results possible. Get the process started today by contacting Tom at (248) 790-5594 or you can get in touch by 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 

Getting Your Farmington Hills MI Home Ready to Sell? 2021 Home Design Trends

Getting Your Farmington Hills MI Home Ready to Sell? 2021 Home Design Trends

Image: The Nordroom.com

Getting Your Farmington Hills MI Ready to Sell? 2021 Home Design Trends

If you have plans for selling your Farmington Hills MI home now or in the near future, we recommend that you be mindful of design choices when planning a remodel or redecorating. Selecting last years’ trending paint colors, fixtures, and finishes, for example, could cause your home to feel dated quickly. Also, over-personalized renovations that buyers may not resonate with could actually get you less money for your home, or cause it to linger on the market, which is never a good thing. 

Due to the pandemic, we’ve all spent a lot more time at home over the past year. For many of us, our homes have become our office, classroom, gym, and most importantly, our refuge during times of uncertainty. So, it’s no surprise to see that the hottest design trends for 2021 revolve around soothing color palettes, coziness, comfort, functionality over flash, and quiet retreats. 

People are really starting to think about how they function in their own homes more than what others are going to think walking into their homes. Instead, we are asking ourselves: What do I need? What makes me comfortable? What does my family need? The trends for 2021 and moving forward are about real lifestyle, not just flash.

The cozy comfort theme is being translated into colors, materials, and textures throughout the home. Cold grey and white minimalist color palettes are taking a backseat to warmer neutrals with pops of color and pattern throughout. People are also wanting cozier spaces with more separation and privacy and a dedicated space for working from home.

Homeowners are putting vacation budgets towards home improvements and creating their own staycation-worthy retreats. Bathroom trends for 2021 are all about easy-to-clean surfaces and hands-free components that minimize exposure to germs and maximize cleanliness. Enhanced outdoor living areas are also becoming increasingly popular. 

To help inspire your design projects, unlock the full potential of your Farmington Hills MI home, and maximize your investment, let’s take a closer look at some of the hottest design and remodeling trends showing up for 2021: 

1). Uplifting color pallets

This year, colors appear to be gravitating toward warm and happy shades that convey a sense of coziness, comfort, and wellbeing. Palettes are getting their inspiration from earthy hues, warm neutrals, and soothing blues and greens.

While white and gray are still the safe options they’ve been for the past several years, expect to see alternative neutrals becoming increasingly popular choices for cabinets, walls, and furnishings in 2021. For a fresh and sophisticated look, try one of these 2021 paint colors of the year:

  • Urbane Bronze (brownish-gray) by Sherwin-Williams
  • Aegean Teal (coastal blue) by Benjamin Moore
  • Soft Candlelight (muted yellow) by Valspar

Indigo, ruby, sapphire, and plum on the opposite end of the spectrum are showing up on everything from fabrics and home accessories to fireplace mantels and floating shelves. These classic rich hues can help bring warmth, depth, and a touch of luxury to your living space. Designers recommend using the “60-30-10 Rule” to incorporate these colors, which is a classic decor rule that helps create a pleasing color palette for an interior space.

The rule states that 60% of the room should be a dominant color, 30% should be the secondary color or texture, and the last 10% should be an accent. The 60% is the overall color of the room or the background color. The 30% number becomes the secondary color in your space and compliments the main color, but different enough to give the room interest. The final 10% is your accent color, which can be bolder or more subtle depending on the look you what to achieve. The accent color in the space can be showcased through artwork and accessories.  

2). Reimagined living spaces

The pandemic forced many of us to rethink our home design. From multipurpose rooms to converted closets to backyard cottages, we have had to find creative ways to manage virtual meetings and school. And designers expect these changes to impact the way we live and work for years to come. For example, some home builders are predicting the end of open-concept floor plans as we know them.

With many people working from home full-time, the need for compartmentalization is bigger than ever. Buyers are looking for cozier spaces with more separation and privacy. That means separate dining rooms, plenty of office space, and maybe even room for a bar or a home-gym. Parlor-style seating is also trending. The addition of alcoves, pocket doors, and sliding partitions that enable homeowners to section off rooms as needed are a popular and functional design trend.   

3). Dedicated work-at-home spaces

A study by Modsy, an online interior design service, revealed that working from home has already had a significant impact on home décor and design. Limited private space to work was the number one frustration of clients with their, often makeshift, home office work set up.  Creating a private, dedicated workspace has become a priority. The study found that home office design requests had increased by 40% in the past year.

As life gets back to the “new normal,” post-pandemic, it’s likely that many jobs will allow for remote employment, so home offices are here to stay. As a result, we will see more dedicated and private home workspaces, as opposed to makeshift desks. This may mean people will choose to move to larger homes in more remote areas for more space, or re-envision rooms as permanent home offices.

But, what if you don’t have a dedicated room? Alternative workspaces have also become increasingly popular. In fact, one of the biggest trends this year is the “cloffice,” essentially a spare closet turned home office. 

4).  Tranquil staycation retreats

With travel options limited right now, many homeowners are reallocating vacation budgets toward making their home a staycation-worthy retreat. In theory, vacations are relaxing and after a few smart decorating tweaks that cater to your senses, you can transform your abode into a tranquil retreat.

Most would agree that there’s something instantly relaxing about walking into a pristine hotel suite free of clutter. To create the same experience at home, you’ll want to address clutter first. Start by placing baskets at every entryway for shoes, and trays and hampers where messes collect.

You can also create a calm and serene environment by layering lighting throughout the space. Use floor and table lamps with neutral color shades, like white or beige, to evoke a sense of calmness. Next, consider the flow of the room, and rearrange furniture to create symmetry. The room will look and feel calmer because there are fewer pieces and objects to focus on. Lastly, Introduce accents in calm colors.

Opt for accent pieces like lamps, trays, and decorative objects in mellow shades of blue, green, lavender, or beige, or earth tones such as dusty yellow.  Carry those vacation-vibes into your bathroom with some of the top upgrades for 2021.

5). Contemporary easy-clean bathroom designs  

With 2020 came sheltering in place and, with it, a heightened awareness of the cleanliness of our homes. As hygiene continues to be top of mind, particularly in high-traffic environments like bathrooms, expect to see interiors with easy-to-clean surfaces and antimicrobial fixtures. 2021 bath trends include these items without sacrificing style.

Once seen as a futuristic and costly luxury, smart toilets and bidets are finding a prominent place in the post-pandemic home, according to the NKBA 2021 design trends report. Smart toilets have hands-free components, like self-closing lids and touch-free flushing, which reduce interactions with germy surfaces. Smart toilets eliminate the nooks and exposed plumbing of more traditional models, making cleaning the exterior easier as well.

Quartz dominated all other materials in the NKBA report, in which 74% of designers picked it as the top countertop material for the bathroom. Quartz countertops like Silestone easily keep up with the frequent cleaning that’s part of the new normal. Plus, quartz surfacing is non-porous and inherently less susceptible to harboring bacteria, an important trait in a damp environment. In line with today’s contemporary-leaning bath designs, these countertops have sleek profiles with few seams, which adds to their low-maintenance appeal.

6). Inviting outdoor living spaces  

Enhanced seating and outdoor comforts are both strong trends for 2021. The pandemic has elevated the importance of having private space just beyond your own doors.  According to a National Kitchen & Bath Association (NKBA) membership survey (NKBA looks at outdoor spaces, as well as indoor ones, and tracks trends for both categories), outdoor kitchens were the top project. Next were patios and decks. Screened porches and three-season rooms rounded out the top three.

The most requested features for enhanced outdoor living are expanded seating, fireplaces and firepits, and weather protection. When asked where residents prefer to set up their home offices, one of the most popular choices was at the back of the house with direct access to the yard or patio. Homeowners want to work with an outdoor connection. According to Houzz trend reports, pergolas have become a quick and affordable solution for homeowners looking to extend their usable living space outdoors.

Pergolas provide adequate shade for dining, lounging, and other outdoor fun and relaxation. Privacy is also an increasing priority. With the pandemic driving residents outdoors to exercise, meditate, rest, or recuperate, it’s a bigger issue than in the past. “The more private the spaces, the more desirable they are for homebuyers,” the report notes.

Are you contemplating a remodel? Preparing to put your Farmington Hills MI home on the market? Want to find out how upgrades could impact the value of your home? 

Partner with award-winning Farmington Hills MI REALTOR® – Tom Gilliam  

With over two decades of real estate experience working with buyers and sellers, Tom Gilliam provides the kind of knowledge, skills, commitment, and personalized service you need and deserve. Tom understands that selling a home is a huge financial and life decision and that you are looking for an agent you can trust to sell your home for top dollar. 

Tom will first visit your home and assess it in detail to provide an approximate valuation based on the age and condition of the home as well as nearby sales comparison data. Tom partners with some of the best professional home stagers in the area and will offer suggestions for preparing your home accordingly and make it available for showings. 

Tom will create a competitive marketing strategy that exposes your home to the public and other real estate agents through the Multiple Listing Service (MLS), other cooperative marketing networks, open houses for agents, and so on. Your listing will appear on all the most popular real estate sites where buyers spend hours a day looking at such as Realtor.com, Zillow, Trulia, REMAX, Redfin, and dozens of others. Your home will also be featured on Tom’s own highly-trafficked website homes2moveyou.com.

As your agent, Tom will hold open houses, communicate with prospective buyers, negotiate offers, and put out any fires that might erupt along the way. You can be assured that he will do whatever it takes to get your home sold quickly for top dollar. With an agent like Tom, the experience of selling your home is a very personalized and pleasant one.

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

 

 

 

Article Sources:

 

 

12 Tips for Getting Your Oakland County MI House Ready to Sell

12 Tips for Getting Your Oakland County MI House Ready to Sell

12 Tips for Getting Your Oakland County MI House Ready to Sell

If you are getting ready to sell your Oakland County MI home, then it’s time to roll up your sleeves and get to work. Selling a home involves a whole lot more than just planting a “For Sale” sign on your front lawn or uploading a few interior/exterior photos of your house. Real estate agents are experts when it comes to what makes homes sell. They can do a walkthrough of your home and point out changes you need to make to attract buyers and get the best offers. 

REALTORS® can see flaws you are oblivious to because you see them every day or you simply don’t view them as flaws. They can also help you determine which feedback from potential buyers you should act on after you put your home on the market to improve its chances of selling. Anyone who’s determined to sell their own home should hire a professional cleaning service to give it a deep cleaning before putting it on the market. Sellers should also consider hiring a home stager to assess the current condition and market appeal of the home.  

Here are a few tips to help you get ready to sell your Oakland County MI home fast and for top dollar:

1). Find a qualified Oakland County MI real estate agent

You might be tempted to avoid a real estate agent, save the commission, and just sell your home on your own, also known as “for sale by owner” (FSBO). However, in most cases, the risks of going it alone outweigh the benefits. Risks include having fewer potential buyers, not knowing how to negotiate like a pro, not having enough free time to market your home, and not having the expertise to navigate all of the legal and regulatory requirements that come with selling a property.  

Oakland County MI Real estate agents who have worked with many home sellers can identify the to-do’s that sellers typically overlook. There’s also the fact that professional real estate agents network know other REALTORS®. Often times an agent will post their listing on social media, and because of their network of real estate agents, it reaches the right audience who in turn shares that information with the buyers they are working with. 

Do some research to find a REALTOR® in Oakland County MI with knowledge of the local market and make sure the agent you choose is a good fit. You want an agent you are going to feel comfortable working with and one you can trust to sell your home fast and for top dollar. When interviewing a listing agent, be sure to ask about their experience in your neighborhood, connections to potential buyers, and social media expertise.

The Realtor® you choose should be able to give you a comprehensive plan for how they are going to sell your home. Don’t be afraid to speak with a few agents before picking one to work with.

2). Research your local housing market

First and foremost, make sure to do your homework on the value of your home. Start by researching the local housing market through Realtor.com. Take a look at comparable sales in your neighborhood to figure out the appropriate listing price for your home. Pay attention to the various comps’ square footage, features, and location. 

Finally, think about how they compare to your home. For example, your neighbor’s home may have sold for $1 million, but if your home is considerably smaller, you’ll most likely need to list your house for less. Of course, a reputable real estate agent should be able to assist with finding comps and determining the right listing price for your house.

3). Amp up your home’s curb appeal  

Curb appeal is both an art and a science. And since it’s a buyer’s first impression of your home, it can be absolutely essential for getting your home sold. Curb appeal will improve how your home looks to buyers as they pull up and park or drive by. That includes your driveway to the potted plants on your porch to the welcome mat at your front door. 

By investing in some relatively easy fixes such as replacing an old mailbox, planting colorful flowers, mowing the lawn, trimming the hedges, sprucing up lawn furniture with some new cushions, and repainting your front door, the outside of your house will encourage prospective buyers to take the next step and arrange for a tour inside. 

There is also the stuff you don’t necessarily want prospective buyers to see such as garbage cans,  recycling containers, compost bins, jumbled hoses, garden tools, bicycles, and toys strewn all over the lawn. You want to be sure the outside of your home is neat and tidy because it says  ‘well-maintained’ to potential buyers. 

If you’re not sure how to improve your home’s curb appeal, ask your Oakland County MI real estate agent for advice on how others in your area have improved the exterior of their homes before selling.   

4). Depersonalize your home  

Depersonalizing it is an important step when preparing your house for sale. Your home is likely filled with many personal items that are unique, special, and important to you and your family. However, to prepare your house to sell, you’ll want to remove your personality so that potential buyers can visualize themselves actually living in the space. 

Make it as easy as possible for them by removing personal items and family photos, as well as bold artwork and furniture that might make the home less appealing to the general public. Dozens of antique plates, figurines, ball caps, or beer bottles lining shelves are distracting, especially in online photos. Get those things packed away. The added benefit of depersonalizing is that it’s a good start to decluttering. The goal is to create a blank canvas on which buyers can project their own visions of happily living in the space.  

5). Declutter every area of your home

Before you can successfully show off your house to anyone (or even take listing photos) you need to ensure you have a home that people would want to live in. When getting your house ready to show, less is definitely more. And since potential buyers like to see everything, that means no area of your home (not even your utility closet) is off-limits from the gaze of a serious house hunter.  

Clean off countertops, windowsills, tables, shelving, and all other visible areas. Next, you will want to tackle behind closed doors, closets, drawers, and cupboards. Take your excess stuff and donate it, or pack it up to be stored somewhere else. Not only will clearing the clutter help make your house look more appealing to potential buyers, but it will also help you once you’ve accepted an offer and it’s time to pack up and move to your new abode.  

6). Give your home a deep clean   

When selling your Oakland County MI home, it’s important to keep everything clean and tidy. You never know when a buyer might want to schedule a last-minute tour. First impressions mean everything, so don’t let dirty floors, dusty surfaces, and dingy carpet make a bad one on a potential buyer. Before listing your home, you want every square inch to shine, from the baseboards to the corners of your ceilings and everywhere in between.  

This means wiping down surfaces, cleaning toilets, mopping floors, washing windows, dusting ceiling fans, lighting fixtures, and rafters, cleaning rugs, etc. Remember to take special care with the bathrooms, making sure the tile, counters, toilet, shower, and floors shine. Whether you do the cleaning yourself or hire a professional house cleaning service, you want your home is pristine clean at all times, especially for those last-minute showings.

7). Repaint the walls to neutral colors

You might love that purple accent wall in your foyer, but if a potential buyer isn’t into purple, it could be a turnoff. According to Home Advisor, the best paint colors for selling your home are neutral colors and earthy tones. This means warm beige, light gray, off-white verging on yellow and white.

Ask yourself these questions while selecting paint colors: 

  • Does it feel warm and inviting?
  • Does it feel cold or boring?
  • Can you see the previous color underneath?

Fortunately, there are many neutral colors that make your home feel warm. For example, try greige, which is a warm shade of gray that’s closer to beige than it is to blue. Neutral colors are also versatile. You can place any color couch into a white living room wall and any color table and chairs to a beige kitchen interior. For your kitchen, choose light blue or gray paint. 

Research shows that homes with this color kitchen sold for almost $2,000 more than homes with white-walled kitchens, according to Home Advisor. If you’re looking for a professional paint job, you might need to know the cost to hire a painter to see what works with your budget. The average cost to paint a house is between $960 and $2,750.  Also, when you paint your home’s whole interior the same neutral tone, you save money because you can buy in bulk.

Keep in mind that during an open house, homebuyers can more easily imagine their decor in a neutral room than a chartreuse room they would have to repaint.  You want to help buyers picture themselves in the house because if they don’t feel at home, they’ll probably look at other real estate options.

8). Make sure big-ticket items are in working condition

Unless you are selling your home in as-is condition or to a buyer who is planning to gut it, you will want to make sure any big-ticket items are in good working condition. Consider getting a home inspection done to help guide you where you should spend money or be able to factor that into the price and be aware of any big issues during negotiations. 

If you take care of the improvements, you may be able to ask a higher price for the home, covering the cost of the upgrades with your list price and making it attractive to a broader group of buyers. Tackling problem areas now will also help you avoid post-inspection price reductions. 

These are the most common big-ticket items, including some that buyers and their inspectors could flag as safety issues:

  • Replacing the roof
  • Updating the electrical panel
  • Installing a new water heater
  • Addressing termite, mold, or water damage
  • Repairing pipes, sewer connection, or septic system
  • Updating the HVAC system

9). Fix and repair everything and anything that needs it

Along with big-ticket items, make sure anything and everything that needs to be fixed (locks, hardware, cracks in the walls, scuff marks, missing light bulbs, loose handles, squeaky doors, etc.) has been taken care of before listing your home. Otherwise, It may make buyers think your home hasn’t been well taken care of and stop to think what else could be wrong with it.

Beyond any critical updates, think about the following easy things to do before selling your house. Many of these items can be tackled over a weekend before putting your house on the market.

  • Caulking in bathrooms and kitchens
  • Improving lighting by adding fixtures or replacing bulbs
  • Having the carpets professionally cleaned
  • Paint touch-ups 
  • Painting the baseboards

Selling almost any home can be tricky, but selling a home with lots of little problems and small repair needs can be downright difficult. With a home that is fixed up and move-in ready, you’re more likely to see more interest in your home and may even see multiple offers. 

10). Give your home the sniff test  

As you get your Oakland County MI home ready to sell, keep in mind that the visual appeal of your home is not the only thing to be considered. Foul odors, even slight ones, can be a deal-breaker, and the problem is that you might not even notice them.

Overwhelming odors can be off-putting to buyers at best, and leave a negative impression, at worst. You want to make sure that your house passes the sniff-test. 

Here are the places in your home that typically need attention:

  • Closets. Odors tend to build up in closets because they stay closed.
  • Bathrooms. Besides the obvious odors, mildew on surfaces and towels can be either subtle or strong.
  • Bedrooms. Dirty clothes, bed linens, carpet, and musty drapes can cause odors.
  • Kitchens. Onions, garlic, and strong spices can linger in the air from last night’s dinner. Garbage disposals and kitchen trash cans can also add unpleasant odors to the mix. 
  • Basements. Basements often not have the same airflow that the main floor rooms have, and musty odors can build up.
  • Pet smells. It is common to get used to pet smells and forget that buyers will immediately notice the lingering smell of pets.
  • Trash receptacles. Probably the worst odor culprit of them all.

To solve those unpleasant odors in your home, natural solutions like baking soda are the best, which absorbs the odors from the air. You can use absorbent air fresheners in closets to absorb stale odors in the air and place them inside gym shoes that can build up odors. Use a dehumidifier in the basement to keep that musty smell away and also open windows periodically to get fresh air circulating throughout the space.

If you’re going to use strong-smelling cleaners like bleach, make sure to clean the night before so the odors are not overpowering to potential buyers. Be sure to place pet beds and items outside or in a garage before a showing, and keep a neutralizing spray on hand to spray on furniture, carpets, or any place where your pet has been. Take the trash out before a showing. It’s a good idea to remove all trash receptacles. 

We often get used to the odors in our living spaces so it helps to have a friend or family member that does not live with us (and who will be brutally honest) to give the home the sniff test.  

11). Consider professional home staging

Consider getting your home staged by a professional home stager. Home staging is a method of decorating meant to highlight your house’s most impressive assets and help buyers imagine themselves living there.  Home stagers will evaluate the current condition and belongings in your home and determine what elements to add or take out that might raise the bar. 

According to a staging report by the National Association of Realtors, 49% of buyers’ agents believe that home staging has an effect on how a buyer views the home, with 77% saying that it makes it easier for buyers to visualize the property as their own. On the seller’s agent side, 21% said that home staging increases the value of a home between 6% and 10%, and 39% note that it greatly decreases the total amount of time a home is on the market. 

With so much to gain, it makes sense for sellers to stage their home, and fortunately, many of the best staging tips don’t require spending a lot of money. Professional stages know the real estate market, and what sells, so it’s important to take their advice and not take offense when they make big changes. Their job is to help drum up interest from potential buyers, which is always good news to the seller.

12). Hire a professional photographer

In 2021, everyone is looking at images and videos online to make decisions. Professional real estate photography and real estate video tours can help sell your home faster. Given that many potential buyers search for homes online, it’s crucial to include high quality, professional photos in your online listing. 

According to a recent study, professional real estate photography can earn you between $1,000 and $100,000 more on your final sales price. In addition, better quality photos can also increase the number of people clicking on your listing. This means that simply updating your listing with professional photos can potentially double the attention your home gets from potential buyers. 

Professional photographers understand the essential elements that make up quality home images. Furnished rooms and spectacularly staged photos attract homebuyers by helping them envision their new life in your home. Few pictures are automatically perfect. Instead, they require careful post-production editing to enhance the final product.

Before putting your home on the market, hire a professional photographer to snap photos or create an impressive video tour of your clean and staged abode. Your Oakland County MI real estate agent should be able to help with finding a professional real estate photographer, so be sure to ask who they use when interviewing real estate agents to work with.

Partner with award-winning Oakland County MI REALTOR® – Tom Gilliam   

Tom Gilliam is proud to be a trusted Oakland County MI REALTOR® in Oakland County MI for the past 20 years- offering his guidance and expertise to home buyers and sellers. Tom understands that selling your home is a significant financial and life decision and that you are looking for someone you can trust to get you top dollar.

Tom employs the latest technology to get your home in front of as many buyers as possible. He also partners with the most talented home stagers and real estate photographers/videographers to ensure that your home’s features are optimally showcased.

Tom will create a competitive marketing strategy that exposes your home to the public along with other real estate agents through the Multiple Listing Service (MLS), other cooperative marketing networks, open houses for agents, and so on. Your listing will appear on all the most popular real estate sites where buyers spend hours a day looking at such as Realtor.com, Zillow, Trulia, REMAX, Redfin, and dozens of others. Your home will also be featured on Tom’s own highly-trafficked website homes2moveyou.com.

As your agent, Tom will protect your interests, advocate for you, negotiate on your behalf, and do whatever it takes to get your home sold fast for the best price. Feel free to reach out to Tom directly at (248) 790-5594 or you can get in touch with him by 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

Buying a Home in Farmington Hills MI? Why You Need A REALTOR®

Buying a Home in Farmington Hills MI? Why You Need A REALTOR®

Buying a Home in Farmington Hills, MI? Why You Need A REALTOR®

If you are thinking about buying a home in Farmington Hills, MI, you will want to consider hiring a professional real estate agent to help you through one of life’s largest financial transactions. A Farmington Hills MI REALTOR®’s job is to match you with a home that fits your lifestyle needs and budget and also help you with making an offer, negotiations, the home inspection, and closing on your new place.

Some buyers may hesitate to use a professional real estate agent because they don’t want to pay the agent’s commission fee. That being said, it’s actually the seller that is responsible for paying the commission fee and not the buyer, which are typically about 5 to 6 percent of the home’s purchase price and split between the listing agent and buyer’s agent. 

Search Farmington Hill MI Homes for Sale

A Farmington Hills MI REALTOR® is a professional who works on your behalf and advocates for your interests. Because most sellers will have seller representation, you also want someone that has your back to represent you.

What You Will be Responsible for Without a Farmington Hill MI REALTOR® 

If you should decide not to hire a professional Farmington Hills MI real estate agent, you will be responsible for the following: 

1). You will have to uncover homes in the neighborhood or area you want to live in that match your budget and lifestyle needs. Although the many property search sites online can give you a sampling of what homes are currently available, you will have to research whether a seller’s asking price is justified based on comparable home sales in the area. 

Realtors also have access to even more listings. Sometimes properties are available but not actively advertised. A real estate agent can help you find those hidden gems. A local REALTOR® is also going to know the search area probably better than you ever could.

2). You will have to research information and important facts on a neighborhood, including those that a seller may choose not to disclose that could be important to you.  Researching local trends, market values, and other vital info can be daunting.

A real estate agent is equipped to know the ins and outs of every neighborhood. They’ll be able to tell you all about the school districts, zoning codes, the types of homes offered, and where to find everyday needs.

3). You will have to negotiate an offer, including the price and other clauses and contingencies in the purchase agreement. Any time you buy or sell a home, you’re going to encounter negotiations, which can easily get a little heated. Don’t you want a savvy professional negotiator on your side to get the best deal for you?

4). You will have to navigate the home inspection and negotiate repairs or credits with the seller. A REALTOR® will help draw up a purchase agreement that allows enough time for inspections, contingencies, and anything else that’s crucial to your particular needs.

5). You will have to sort through complex paperwork filled with real estate terms you might not understand. Real estate has its own language. It’s full of acronyms and semi-arcane jargon. A skilled real estate agent has been through all the paperwork before and actually knows what it means.

Questions? Concerns? Confused? An agent can clarify all the clauses, contingencies, and jargon-filled fine print as well as find hidden fees and conditions that you might have skimmed over.

Your Farmington Hills MI REALTOR® Will Run A Comparable Sales Analysis

One of the main tasks a REALTOR® will perform for you is a comparable sales analysis (also known as “comps”) of homes that are similar in size, condition, and age to the property you are interested in purchasing. 

Your Farmington Hills MI real estate agent will evaluate the prices of homes that are currently on the market and those that have sold in recent months to determine whether a seller’s asking price is in line with market data. Without this critical market data, you could easily end up overpaying for a home. 

As you can see, there are a lot of moving parts that go into purchasing a home. Hiring an experienced and skilled Farmington Hill MI real REALTOR® like Tom Gilliam can save you time, money, and possible headaches down the road.  

Partner With Top-rated Farmington Hills MI Real Estate Agent – Tom Gilliam

2020 Best of Farmington Hills REALTOR - Tom GilliamTop-rated Farmington Hills MI REALTOR® – Tom Gilliam has over 20 years of local experience and provides the kind of knowledge, skills, dedication, and personalized service you need and deserve when buying a home.

With access to the most up-to-date listings in Farmington Hills and surrounding Oakland County, Tom can help you explore your options and find your dream home. 

As your personal agent, Tom will protect your interests, negotiate on your behalf, advocate for you, and go the extra mile to ensure a smooth and successful transaction. 

 

Search Farmington Hill MI Homes for Sale

If you or someone you know is interested in buying a home in Farmington Hills or Oakland County, MI, 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

Pin It on Pinterest