Why You Need A Top-rated RE/MAX Farmington Hills MI REALTOR®

Why You Need A Top-rated RE/MAX Farmington Hills MI REALTOR®

Why You Need A Top-rated RE/MAX Farmington Hills REALTOR®: Whether you are a first-time buyer or a seasoned veteran, buying a home in Farmington Hills MI can be one of the most exciting experiences of your life. It can also be a stressful undertaking. Fortunately, there are qualified real estate agents out there who can help you navigate the challenges of buying a home and help eliminate a lot of the stress. Overall, you’ll want to look for a REALTOR® and company you feel comfortable with and trust. Selecting the right one can make the difference between finding the right home for your lifestyle needs quickly and securing an offer or searching unsuccessfully for months.  

Tom Gilliam is a top-rated RE/MAX Farmington Hills MI REALTOR®  with over 17 years of experience. When you choose a RE/MAX professional like Tom Gilliam to help you with the home buying process, you can expect an exemplary level of service. Tom is a local market expert with access to a full complement of real estate tools and resources to ensure a successful home buying experience. With a trusted RE/MAX professional and the right support system, you’ll be able to make the most informed decisions. Tom’s comprehensive, high-quality services can save you time and money, as well as make the experience more enjoyable and less stressful.

Why Choose RE/MAX?

RE/MAX (short for Real Estate Maximums) has been in operation since 1973. The real estate company has since grown to encompass more than 100,000 sales agents working in franchise-owned and operated offices in more than 100 countries. A real estate powerhouse in its own right, and one of the industry’s most recognized brands, RE/MAX  is regarded as one of the country’s most productive real estate sales forces.  

  • When you look for the highest quality real estate service, look to a RE/MAX Associate. RE/MAX Associates are The Real Estate Leaders®. You can depend on RE/MAX Associates to make the sale or purchase of a home as effortless and seamless as possible.
  • RE/MAX agents are The Hometown Experts With a World of Experience®. They are the most knowledgeable agents, with the experience and community connections to assist you in the homebuying process. Across the globe, they are the people next door, or just down the block.
  • At RE/MAX, advanced education is a priority. RE/MAX Associates dominate the Accredited Buyer Representative (ABR), Certified Distressed Property Expert (CDPE), Certified Residential Specialist (CRS), and Seniors Real Estate Specialist (SRES) ranks.
  • Customer SatisfactionThe proof of quality service is in repeat customers and in customers who refer RE/MAX Associates to friends. RE/MAX Sales Associates typically generate a large percentage of their business from past customers and referrals.

Why You Need Top-rated REMAX Farmington Hills REALTOR® -Tom Gilliam 

For buyers interested in Farmington Hills MI homes for sale, Tom can help you every step of the way with real estate contracts, finding the best interest rate and loan programs, and even work with appraisers and home inspectors. If you are relocating to Farmington Hills from another part of the state or country, you’ll need a qualified agent to help you find the right home for your family. As a local expert, Tom can help educate you on the best neighborhoods and communities, the types of homes and features offered, schools, utilities, zoning, surrounding area amenities, commuting information, local community developments, and more.

As your RE/MAX Farmington Hills MI REALTOR®, Tom can go over different financing options and refer lenders that are best qualified to help you. He will take the time to investigate all available properties and has access to many resources to assist you in uncovering the right home for your family. Tom will arrange private showings for homes worth seeing in person based on your specific criteria and assist you in making the best purchase decision by providing objective information about each property. He can also help with negotiations and inspections and will guide you through the closing process to ensure that everything flows together smoothly.

Living in Farmington Hills, MI

 Farmington Hills is a northern suburb of Metro Detroit and the second most-populated city in Oakland County. Farmington and Farmington Hills are often thought of as the same community although the two cities have separate services and addresses. 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.  

Several major corporations are located in Farmington Hills including 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.  

Twelve Oaks Mall in Novi is located less than 6 miles from Farmington Hills. The mall is the destination of choice of metro Detroit and features nearly 200 distinctive stores and restaurants such as Apple, Coach, Michael Kors, The Cheese Cake 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.

Private schools in Farmington Hills include The International School, 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.

Farmington Hills has several community parks and facilities, including Costick Activities Center, MI -Dog Park, Fishing Pier, Founders Sports Park, MI – Golf Club & Driving Range, Heritage Park, Ice Arena, Jon Grant Community Center, Longacre House, Nature Center, Riley Archery Range, Skate Park, Splash Pad, and Farmington Hills Community Center.

The 211-acre Heritage Park in Farmington Hills 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. 

For golfers, 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 services for Farmington Hills. The closest major airport is Detroit Metropolitan Wayne County Airport located about 30 miles from the center of town. 

Partner with REMAX Farmington Hills REALTOR® -Tom Gilliam 

Whether you’re interested in purchasing your first home, upsizing to a larger home with room for a growing family, looking to buy your dream home or the right investment property, why not take advantage of Tom’s 17-plus years of experience as a top-rated RE/MAX Farmington Hills MI REALTOR®? Tom will look out for your best interests, advocate for you, negotiate on your behalf, and do whatever it takes to ensure the best results possible. Get the homebuying process started today by calling Tom directly at (248) 790-5594 or you can reach 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: Homes2MoveYou.com
License #314578 

Farmington Hills MI 

Buying A Home in Farmington Hills MI? Getting A Pre-approval is Key

Buying A Home in Farmington Hills MI? Getting A Pre-approval is Key

Buying A Home in Farmington Hills MI? Getting A Pre-approval is Key: You may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean? And why is it so important? In today’s market, with rising home prices and high buyer demand, it’s crucial to have a clear understanding of your budget and stand out as a serious homebuyer to sellers.

Once you get pre-approved for a home loan, the seller knows you’re a better prospect than someone who hasn’t begun negotiating with a lender. Pre-approval is also helpful when you’re hunting for a house. If you have a pre-approval amount of $240,000, for example, you know not to waste your time shopping for a $400,000 home.

Is Pre-qualification the same as pre-approval?

A pre-qualification is a good indication of creditworthiness and the ability to borrow, but a pre-approval is the definitive word. A mortgage pre-qualification is usually based on an informal evaluation of your finances. You tell the lender about your credit, debt, income, and assets, and the lender estimates whether you can qualify for a mortgage and how much you may be able to borrow.

Pre-approval is the next step if you get a thumbs up during pre-qualification. During the mortgage pre-approval process, a lender will pull your credit report and review documents to verify your income, assets, and debts.  If you are confident about your credit and financial readiness to buy a home, then you might skip the pre-qualification step and go straight to the pre-approval and start shopping for a home. 

Mortgage pre-approval

A mortgage pre-approval is an offer by a lender to loan you a certain amount under specific terms. Pre-approval is not a guarantee you will be given a loan and the mortgage can still be denied. A home appraisal must be completed before a loan can close to ensure you aren’t paying more for the home than it’s worth. 

Also, the lender’s offer may not stand if your financial situation changes between pre-approval and closing. Keep in mind that it can take several days or longer to get preapproved for a mortgage. The timeline varies by lender and how quickly you are able to provide the lender with the information it needs, including proof of your income and assets.

When you are ready to make offers, a seller often wants to see a mortgage pre-approval and, in some cases, proof of funds to show that you’re a serious buyer. In today’s competitive market, sellers have an advantage because of intense buyer demand and a limited number of homes for sale; they may be less likely to consider offers without pre-approval letters.

According to the National Association of Realtors (NAR), homes are receiving an average of 5.1 offers for sellers to consider. As a result, bidding wars are more and more common. Pre-approval gives you the advantage you need if you get into a multiple-offer situation, and these days, it’s likely you will.

When multiple buyers have made legitimate offers for the same Farmington Hills MI property, the seller can choose which one they want to accept. A pre-approval letter indicates to both real estate agents and home sellers that you’re financially able to buy a home, and it’s expected that a pre-approval letter will accompany any offer you make.

How to get pre-approved for a home loan

Start by requesting copies of your credit reports. Dispute any errors that might be causing your score to be lower than it should be. If you find delinquent accounts, work with creditors to resolve the issues before reaching out to a lender for mortgage pre-approval.

A credit score of at least 620 is recommended, and a higher credit score will qualify you for better rates. Generally, a credit score of 740 or above will enable most borrowers to qualify for the best mortgage rates. 

Calculate your debt-to-income ratio. Your debt-to-income ratio, or DTI, is the percentage of gross monthly income that goes toward debt payments, including credit cards, student loans, and car loans. Lenders prefer borrowers with a DTI of 36% or below, including the mortgage, though it can be higher in some cases.

Gather income, financial account, and personal information such as Social Security numbers, current addresses, and employment details for you and your co-borrower (if you have one). You will also need bank and investment account information and proof of income. 

Documents you will need to get a mortgage pre-approval letter include your W-2 tax form and 1099s if you have additional income sources and pay stubs. Two years of continuous employment is preferred, but there are exceptions.

Self-employed applicants will likely have to provide two years of income tax returns. If your down payment will be coming from a gift or the sale of an asset, you’ll need a paper trail to prove it.

Understand what the lender is offering you. Make sure you understand all the terms of your mortgage. If you don’t know what something means, the lender must explain it to you. The Truth in Lending Act requires all lenders to provide you with comprehensive loan cost information so you can comparison shop.

Comparing offers from multiple lenders can help you compare rates and fees and save you thousands of dollars over a 30-year mortgage. Going through the mortgage pre-approval process shouldn’t hurt your credit score. FICO, one of the largest U.S. credit scoring companies, recommends confining those applications to a limited time frame, such as 30 days.

Time your pre-approval. A pre-approval is typically good for 90 days. Wait until you’re ready to start hunting for your house before you request a pre-approval, otherwise, you are wasting both your time and that of the lender who’s preapproving you.

The bottom line

Every step you take to gain an advantage as a buyer is crucial in a market that’s constantly changing. Interest rates are low, prices are going up, and lending institutions are regularly updating their standards.

It is important to have the information, resources, and the right team of professionals such as a loan officer and a trusted Farmington Hills MI real estate agent to help ensure that you take the right steps. If you’ve been trying to decide if now is the right time for you to buy a home, let’s connect to discuss your options.

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

With a passion for real estate, Tom Gilliam has been serving Farmington Hills and the surrounding Oakland County MI area for nearly two decades. Tom is known for his friendly demeanor, dedication, and professionalism. He will be able to quickly ascertain your needs and goals and create a plan of action based on your specific criteria. 

Tom’s clients appreciate his honesty and transparency and feel it helps them as they make important real estate decisions. He understands how important good communication is to every transaction and is available for his clients whenever they have questions or concerns, promptly returning all phone calls, texts, and emails.

Having someone like Tom by your side to advise and guide you means there is one less thing you need to worry about. He will protect your interests, advocate for you, negotiate on your behalf, and go the extra mile to ensure the best results possible. If you are interested in buying or selling Farmington Hills real estate or homes in the surrounding area, please give Tom Gilliam a call at (248) 790-5594 or you can reach 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: Homes2MoveYou.com
License #314578 

Map Farmington Hills MI

Things to Know About Buying A Farmington Hills Home With Guest Unit

Things to Know About Buying A Farmington Hills Home With Guest Unit

Things to Know About Buying A Farmington Hills MI Home With Guest Unit 

For many homebuyers, a separate guest house or attached in-law suite is the ultimate home purchase wish-list item. There are so many advantages to owning a guest unit. Some homeowners may use it to host relatives for long-term visits throughout the year. It’s much more convenient to have separate accommodations for guests, allowing both you and them plenty of privacy and space. While others might use the unit to house elderly parents, as transitional space for older children, as a studio, home office, or gym, or as a source of passive income by renting it out.  

Multigenerational Housing

As the demand for multigenerational housing steadily increases, so has the interest in guest houses and in-law suites. It is estimated that 64 million Americans currently live in multigenerational households. Mostly associated with the millennial generation, more young adults are staying home and living with their parents for longer to give them the time to earn money and gain financial independence before they strike out on their own.

Guest homes are ideal in this situation giving both parents and the young adult plenty of privacy and personal space. An in-law unit can also be the perfect accommodations for elderly parents, providing a convenient and comfortable setting that allows for independence and privacy, and with added affordability compared to separate households. Considering the average cost of assisted living can cost as much as $4,000 per month, it’s easy to see how this option can be a win-win situation for everyone in the long run.

Passive Income

A guest unit can also be a great source of passive income through renting, whether for long-term renters or for short-term vacation rentals like Airbnb or VRBO. If you decide to take the renting route, you will need to check with your local city for any requirements regarding permits or zoning laws that may prohibit you from renting the space. In particular, vacation rentals using Airbnb have specific rules and zoning laws you must follow.  

Also keep in mind that with a vacation rental, you must pay to furnish and stock the unit, manage bookings and payments, hire a cleaning crew, keep up with landscaping and repairs, and find new ways to attract happy renters. Is your home is in a popular area? Will you even have renters that will want to stay there? Also, be sure to factor in vacancy when considering costs. How many renters will you need to be consistently renting the unit to make a profit, let alone break-even?

In order to make the home attractive to renters and prospective home buyers when it comes time to sell, the suite should have the ability to be closed and locked to the rest of the home for privacy and should truly function as an independent space with kitchen and bathroom facilities. Easy accessibility to the separate unit, as well as handicapped accessibility, improves the function of the independent living space and increases the value.

Will a guest house be included in the overall square footage? 

An additional structure that is not connected to the main house in any way will not be included in the overall square footage. An example of this is a guest house that is in the backyard and has its own entrance. These structures are considered Added Detached. This is because the livable square footage of a detached guest house isn’t included in the price per square foot calculations. Garages, pool houses, guest houses, or any rooms that require you to leave the finished area of the main house to gain access are not counted.

If the additional structure is attached to any part of the main house, it can be included in the square footage. This applies even if the structure has its own entrance. For example, a guesthouse or in-law unit that can only be accessed from its own door but shares a wall with the kitchen in the house.

Will a guest house or in-law suite increase your home’s value?

At some point, you may want to sell your home and in-law unit – perhaps you move for a job or want to downsize when you retire. Whatever the reason, you’ll want your home to have gone up in value so you can walk away with more cash in your pocket. Homes with separate guest houses or attached in-law suites are growing in popularity. More and more families are choosing to live in multi-generational homes either to care for their aging parents or because of financial reasons. 

However, while homes with guest units are increasing in demand, there is no hard figure on how much value they will add to your home because every real estate market is different. Buyers are looking for different features at different times, though an extra suite is likely to stand out for many reasons. If you want to calculate the value of your in-law unit, determine what it’s really worth including the value it will add to your own lives if you’re not planning on selling your home anytime soon. 

If you use it to save money on in-home caregiving or retirement homes, what would you have spent on these things if you didn’t have the suite? If you plan on making money through short-term rentals, what will that income amount to? Also, think about what it would cost to add an in-law suite in the future. These things can all mean extra value to the right buyer.  In-law suites and guest homes are highly sought-after elements, and when it comes time to sell, anything to make your property more desirable can tip the scales in your favor.

Final Thoughts

Buying a Farmington Hills home with a guest unit is a big financial decision that can quickly get overwhelming when you maneuver through the extra paperwork and city requirements. An experienced, Farmington Hills MI real estate agent can help you navigate the local market, city laws, and find an affordable property with an in-law unit that fits your budget so you have cash left over to cover any extra guest home expenses and upkeep costs.

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

With a passion for real estate, Tom Gilliam has been serving Farmington Hills and the surrounding Oakland County MI area for nearly two decades. Tom is known for his friendly demeanor, dedication, and professionalism. He will be able to quickly ascertain your needs and goals and create a plan of action based on your specific criteria. Tom’s clients appreciate his honesty and transparency and feel it helps them as they make important real estate decisions. He understands how important good communication skills are to every transaction and is available for his clients whenever they have questions or concerns – promptly returning all phone calls, texts, and emails.

Having someone like Tom to advise and guide you means there is one less thing you need to worry about. He will protect your interests, advocate for you, negotiate on your behalf, and go the distance to ensure the best results possible. If you are interested in buying or selling Farmington Hills real estate or homes in the surrounding area, please give Tom Gilliam a call at (248) 790-5594 or you can reach 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: Homes2MoveYou.com
License #314578 

Map Farmington Hills MI

Buyers Seek Bigger Mortgages As Home Prices Continue to Rise

Buyers Seek Bigger Mortgages As Home Prices Continue to Rise

Buyers Seek Bigger Mortgages as Home Prices Continue to Rise: Over the past year, there has been a significant increase in home prices forcing home buyers to borrow more to keep up. The average size of a loan purchase rose to $411,400 last week, according to Mortgage Bankers Association, the highest since February. The average loan for a new home surpassed $377,000 last month, a record high.

Home prices are climbing at their fastest pace in more than 15 years. And while low mortgage rates are helping to offset some of those higher prices  – mortgage rates are predicted to head up soon. The 30-year fixed-rate mortgage averaged 3% this week, up from 2.94% the week prior, according to Freddie Mac.

Rising house prices put pressure on loan sizes 

“We’ve seen very red-hot house-price appreciation across the country—double digits nationally,” says Len Kiefer, deputy chief economist at Freddie Mac. “That puts pressure on loan sizes because, to purchase a home at a higher price, you’re going to need to borrow more money.” 

The MBA’s head of forecasting, Joel Kan, said the increase is partly due to the kinds of homes people are buying. The pandemic has led many newly remote workers to seek bigger houses in the suburbs, with more outdoor space. “These homeowners, typically, are still gainfully employed, might be higher-income, etc.,” Kan said. “They might be able to afford a little bit more.”

However, to get these larger mortgages, borrowers will need stellar credit to qualify.  The median credit score for new mortgages was 788 in the first quarter of this year, up from 773 during the same period last year. 

Supply shortages are constraining purchase activity

Mortgage applications to purchase a home fell 4% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was just 2% higher than the same week one year ago when the housing market was just starting to come back after the pandemic shut it down. 

Joel Kan, an MBA economist stated that “A decline in purchase applications was seen for both conventional and government loans. “There continues to be strong demand for buying a home, but persistent supply shortages are constraining purchase activity, and building material shortages and higher costs are making it more difficult to increase supply.”

The majority of Americans believe now is a good time to buy a home

Despite a surge in home prices, a majority of Americans believe now is a good time to buy a home, according to a new survey from Gallup. Some 53% of Americans believe it is a good time to buy, Gallup reported, citing the results of a survey of nearly 1,000 U.S. adults conducted in April.

Last year, only 50% of people felt this way, marking a record low since Gallup began tracking Americans’ sentiment on the housing market in the 1970s. At the time, people were responding to the sudden slowdown in real-estate transactions as the economy shut down at the beginning of the COVID pandemic.

Demographic shifts and the pandemic-fueled move to remote working caused demand among home buyers to rise. As people rushed into the market and quickly bought up properties, the inventory of available homes for sale has dropped to a record low in recent months.

Americans believe home prices are going to increase over the next year

To an extent, this inventory supply gap is a reflection of years of under-building following the Great Recession. The Gallup survey also found that 71% of Americans believe home prices are going to increase over the next year in their local market.

Expectations of rising home prices were essentially the same across the U.S., regardless of whether the survey respondents lived in a major city, suburb, or rural area. 

Nevertheless, Americans continue to prefer homeownership to other long-term investments. Gallup found that 41% of people believe real estate is the best long-term investment, up from 35% last year.  

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.

Tom is down-to-earth and 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, handle all the details of the transaction,  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 Farmington Hills MI 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

 

 

 

Searching For The Best REALTORS® in Farmington Hills MI?

Searching For The Best REALTORS® in Farmington Hills MI?

Searching for The Best REALTORS® in Farmington Hills MI?

If you currently in the market to buy a home in Farmington Hills MI, you’ll need to choose from among the most qualified REALTORS® in Farmington Hills MI to help you with your purchase. There are so many moving parts to real estate and finding a great house is just one piece of the puzzle. You need a skilled agent in your corner who can help you navigate the market, uncover the best homes in Farmington Hills for sale, make sure you get the most value for your money, pull together all the details of the transaction, and get you the best deal possible.

Offering over 20 years of experience, Farmington Hills MI REALTOR® – Tom Gilliam is able to provide his clients with the kind of knowledge, skills, dedication, and personalized service they need when purchasing Farmington Hills MI real estate. Highly knowledgeable, Tom can help educate you on the best neighborhoods and communities in Farmington Hills, the types of homes and features offered, the top builders in the region, school districts, area amenities, commute times, local community developments, and so much more.  

Tom can help streamline your property search by putting together a list of homes in Farmington Hills for sale that are the best fit based on your preferences and needs. He would love to speak with you to discuss the type of home you have in mind and answer any questions you might have about Farmington Hills MI real estate, pricing, financing, and more. Get started on finding your dream home today by contacting Tom directly at (248) 790-5594 or you can get in touch by email.


On our easy-to-use website, you’ll be able to search Search the MLS for homes in Farmington Hills MI for sale – listings updated every 3 minutes. View photos of available properties, find detailed real estate information, create a free account, save your search, and receive notifications of new listings that match your specific home criteria delivered directly to your email. Be sure to scroll down below to find out about current market trends and why homebuyers should consider living in Farmington Hills:

Search Homes in Farmington Hills MI for Sale

If you would like more information on any of the homes in Farmington Hills MI for sale, or to set up a private showing, please contact Farmington Hills MI REALTOR® – Tom Gilliam. Tom is very familiar with the market and is always the first to know when new inventory becomes available (and coming soon listings), ensuring that his buyers have access to the most desirable homes and securing an offer. 

Farmington Hills MI Real Estate Market Snapshot

The current median list price in Farmington Hills MI is $335,000, down 4% from March to April. Farmington Hills’ home resale inventories are at 41, which is a 2% increase since March 2021. The median list price per square foot in Farmington Hills is $166, with no change since March 2021.

 

Today April 2, 2021

1 Month Ago

1 Year Ago

Active Inventory

41

40+2%

121-66%

Median List Price

$335,000

$349,900-4%

$299,000+12%

% Distressed 

0%

2%

0%

Median Days on Market

16

15+6%

46-65%

Median Home Size

2,398

2,381

2,141+12%

Median $/Sqft

166

166

141+17%

Buying a Home in Farmington Hills MI with a Skilled Agent

Partnering with a skilled and knowledgeable agent like Tom Gilliam can prove invaluable when shopping for a new home. Tom will set up an initial consultation with you to gain a good understanding of what characteristics and features in a home and Farmington Hills neighborhood are important to you. 

He will then sift through multiple databases for homes in Farmington Hills MI  for sale that best match your specific home criteria, and schedule private showings for you to see them in person. While this may seem like something that is easy enough to do on your own, it can actually be a very time-consuming process without the help of a qualified agent. Tom may also be able to uncover Farmington Hills Michigan real estate and coming soon listings that you might not be able to find on your own. 

Search Homes in Farmington Hills MI for Sale

Think of Tom as an extra set of hands (and feet) that can help you with the legwork of the home search process and coordinating appointments for showings. Tom will also do a comparative market analysis to ensure the home you are interested in is priced according to current market value to ensure you’re getting the most value for your money.

All real estate transactions involve staggering amounts of paperwork that can often be confusing. Tom will make sure that all necessary paperwork is filled out and filed correctly as well as review any contracts you sign to makes sure that you’re getting exactly what you think you’re getting.

If you are ready to get the process started, Tom would love to speak with you to discuss the type of home you have in mind and answer any questions you may have about properties for sale in Farmington Hills MI, pricing, financing, and more. Feel free to contact Tom directly Tom Gilliam at (248) 790-5594 or you can get in touch by email.

The Benefits of Living in Farmington Hills, Michigan

Farmington Hills is a small, affluent city in Oakland County, MI, and part of the northwestern suburbs of Metro Detroit. Recently ranked as the fifth-best city in the state to live in by the Chamber of Commerce (a digital-based company), TIME Magazine also picked Farmington Hills as the best place to live in Michigan based on strong economic and educational performance, convenience,  and pleasant way of life.

With a total population of 80,823, the average household income in Farmington Hills is $106,572.00 and the Median Household Income $83,268.00. The median home value with a mortgage in Farmington Hills is $258,900.00 and without a mortgage is $254,000.00.  Buyers will find a wide range of homes in Farmington Hills for sale to choose from including entry-level homes to multimillion-dollar estates.

Affordability in Farmington Hills provides abundant opportunities for families to move here and enjoy a strong sense of community with access to top-rated public schools. Thriving in business and leisure activities, Farmington Hills is fueled by a strong economy and is home to several large corporations providing hundreds of jobs.

Top employers in the city include Botsford Hospital, Robert Bosch Corporation, Quicken Loans, Cengage Learning Gale, and Chrysler Financial Services among other great companies. The Nissan Technical Center and Nissan Trading Corp. are also located in Farmington Hills as well as Hitachi Automotive Services, Hino Motors Manufacturing, and branches of Panasonic, Mercedes Benz, and Greenpath. 

Search Homes in Farmington Hills MI for Sale

Downtown Farmington is a vibrant, walkable destination with over 160 businesses from banks, bead stores,  photography and yoga studios to a variety of eateries and one-of-a-kind shops. For parents with school-age children, most of the community is served by the highly-acclaimed district of Farmington Public Schools, shared with nearby Farmington and filled with top-rated schools.

Other public school districts serving Farmington Hills include Clarenceville Public Schools and Walled Lake Consolidated SchoolsThe city also contains branches of Oakland Community College and Wayne State University, and is the home of the Michigan School of Professional Psychology.

Farmington Hills has several neighborhoods and community parks including Heritage Park, featuring trails for hiking and cross-country skiing during the winter months, a splash pad, playground, volleyball courts, and an in-line hockey rink. The beautiful 18-hole Farmington Hills Golf Club is one of the best-golfing venues in the area. With an active youth and family services division, a strong educational system, and involved, service-oriented community members, Farmington Hills continues to evolve and grow, and just get better and better for its residents.

Suburban Mobility Authority for Regional Transportation (SMART) operates local and regional bus transit in Farmington HIlls. Major thoroughfares in the city include (M-5), Orchard Lake Road, 12 Mile Road, 8 Mile Road, Northwestern Highway, I-696, and I-275. There are several freeway interchanges connecting local roads to the two interstates. The closest major airport serving the community is Detroit Metropolitan Wayne County Airport, about a 30-mile drive from the center of town. 

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

Tom Gilliam is proud to be one of the top-rated REALTORs® in Farmington Hills MI, offering his guidance and expertise to homebuyers 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 always go the extra mile do ensure the best results possible.

Get the process started today by contacting one of the most trusted REALTORS® in Farmington Hills MI – Tom Gilliam 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: Tom @ Homes2MoveYou.com
License #314578 

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