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Oakland County, MI Real Estate News

By Wendy & Greg Kime, Plymouth MI Real Estate Experts
(Kime Realty)
32004 Alameda St., Farmington Hills, MI 48336JUST SOLD! After generating over 130 showings and 30 offers on this property located at 32004 Alameda St Classic Colonial in Farmington Hills, this wonderful home sold for 123% of the list price at $370,000. 2080 square feet, 4 bedrooms, 2.5 bathroom single family home. Farmington Schools. Original owner - built in 2004. Enjoy nature and wildlife on this peaceful wooded lot. The interior shows like new, it has been completely repainted. Enjoy large living spaces on the entry level. The gourmet kitchen includes expensive raised-panel maple cabinets, a countertop extension/bar, recessed lighting, and a full complement of stainless steel appliances. The door wall located in the dining room features beautiful views of the backyard. The family roo...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Downsizing Your Home in Oakland County MI Right for You?Are you considering downsizing your Oakland County home? Downsizing is a popular trend among homeowners looking to simplify their lives, reduce expenses, and unlock new opportunities. But before making the leap, it’s important to weigh the pros and cons of this lifestyle change. In this blog, we’ll explore the concept of downsizing and why it might be a good idea for you. We’ll also discuss the financial benefits of downsizing, including increased cash flow and savings, as well as potential lifestyle benefits such as reduced maintenance and an improved quality of life. However, we’ll also delve into some potential cons to downsizing in Oakland County so that you can make an informed decision about whether or not this is the right c...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Are you a frustrated home buyer in Oakland County, Michigan? You are not alone. The housing market can be a challenging and daunting landscape to navigate, especially when it comes to forclosures. From lack of affordable options, to limited inventory in desirable areas, high competition, and a challenging loan approval process, there are many hurdles that can make the home buying process frustrating for home buyers in Oakland County. Home sale prices in metro Detroit are up 8% over last year, according to the latest RE/MAX of Southeastern Michigan housing report. But don’t worry, help is here! In this blog post, we will delve into the reasons behind these challenges and provide actionable garden tips to help frustrated home buyers overcome them, including how to navigate the impact of r...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
What are beige flags when it comes to buying a home?Beige flags are subtle warning signs or indicators that may not be as alarming as red flags but still warrant caution when buying a home. These can include minor cosmetic issues, outdated fixtures, or signs of poor maintenance, which may indicate potential larger problems that need to be addressed.Buying a house can be a daunting experience, especially if it’s your first time. It’s easy to get caught up in the excitement of finding your dream home. But sometimes, it’s important to take a step back and recognize the subtle signs that may indicate potential issues down the road. Enter “beige flags” – those warning signs that aren’t quite red flags but still warrant attention. In this blog post, we’ll dive into what beige flags are, how t...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Selling your house and receiving multiple offers can be exhilarating. However, even in this favorable scenario, it’s crucial to recognize that unexpected factors may arise. Let’s explore the 10 surprising experiences you may encounter when navigating multiple offers when selling your Oakland County, Michigan house. Decision Overload: Managing numerous offers can lead to a dilemma in choosing the right one. Each offer comes with unique terms, conditions, and benefits. Emotional Rollercoaster: Despite having options, the decision-making process can be emotionally taxing. Balancing offers and making the best choice for your plans can be challenging. Negotiation Frenzy: After selecting an offer, negotiations might continue as buyers counter your terms. Intense back-and-forth negotiations ca...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
As Labor Day approaches, seize the golden opportunity to embark on a journey through remarkable real estate opportunities in the picturesque landscape of Oakland County. With heartfelt appreciation, I extend my gratitude to the cherished clients who have not only entrusted me but also accompanied me on this incredible journey. From the inviting neighborhoods of Farmington Hills to the modern allure of Novi and the timeless charm of Northville, your unwavering support has made this venture possible, enriching communities and lives along the way.On this special Labor DayAs we collectively celebrate the significance of hard work in shaping our great nation, I extend a warm and heartfelt greeting to all who have contributed to the fabric of our society. It’s a time to reflect on the dedicat...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
In the cutthroat world of real estate, homebuyers are constantly seeking creative strategies to gain an edge over competitors. One such tactic that has garnered attention is the use of “love letters” to sellers. The premise is simple: Craft a heartfelt letter to the homeowner, expressing your deep admiration for the property, in hopes that your emotional connection sways the seller to give you a better deal. But does this approach actually work? Let’s dive in.The Emotional Advantage of Love LettersAt face value, love letters can be a powerful tool. They allow you to connect with the seller on a human level, making your offer more memorable. The idea is particularly intriguing for buyers eyeing older or “vintage” homes, as a recent study by the Indiana University Kelley School of Busines...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
The housing market in Oakland County, Michigan, poses Home Buying Challenges that can make the process seem daunting with housing market in Oakland County, Michigan seeing unprecedented highs and lows in the past few years. Inventory shortages, rising prices, and stiff competition have left many potential home buyers frustrated and even despondent. If you find yourself feeling disheartened in your quest for a new home in places like Farmington Hills, Novi, or Northville, you’re not alone. But before you throw in the towel, here’s why you shouldn’t lose hope.The Challenges Limited Inventory: One of the key Home Buying Challenges in Oakland County, MI is the limited inventory and the primary reason home buyers feel discouraged is the limited availability of homes, particularly in popular ...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Real estate is a fascinating reflection of diverse factors like economic trends, interest rate dynamics, and broader consumer sentiment. Lately, there’s a growing discourse surrounding Michigan’s potential tapering in home sales. In this exploration, we shine a spotlight on the intricacies of Farmington Hills housing trends.The Michigan Real Estate Scenario: A SnapshotTraditionally, Michigan’s real estate pulse has been notably vibrant, animated by an unrelenting demand pushing property values higher. However, recent findings from the Michigan Realtors Association hint at a possible ebb in this fervor.Skyrocketing home prices might be a factor at play here. When prices surge, a larger segment of potential buyers, particularly novices in the real estate domain, find themselves sidelined....
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Buying a home is one of the most significant financial commitments most people make in their lives. Therefore, it's understandably frustrating when you're all set to make that commitment and find out your mortgage application has been declined. While it's disheartening, it’s not the end of the road. Here's a step-by-step guide on what to do next, with resources to help you navigate this hiccup.1. Don’t PanicFirst and foremost, understand that many prospective homeowners face mortgage application rejections. The reasons can range from personal financial situations to broader economic conditions. Remember, a decline isn’t a reflection of your worth but rather a financial institution's assessment based on various criteria.2. Understand WhyBefore you can address the problem, you need to und...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Whatever line of work you’re in, there are probably some fairly common terms you’re used to hearing and saying that an outsider may not know. They may be so basic to you that you can’t even imagine how somebody wouldn’t know what it is, even if they aren’t in your field.For instance, the word “mortgage” is something real estate agents presume everybody knows. Well, apparently only 49% of people actually know what a mortgage is, according to a recent survey conducted by One Poll!The survey also found that: 45% of the people surveyed said they plan on buying a home within the next three to five years. Only 42% of those who were already homeowners used a mortgage to buy their home. 55% of Millennials between the ages of 26-40 are far more likely to pay for a house outright with cash, than ...
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By Wendy & Greg Kime, Plymouth MI Real Estate Experts
(Kime Realty)
50965 Sunday Drive NoviJust Listed! 50965 Sunday Drive Novi - This impressive luxury home is perfectly situated in the prestigious Park Place Subdivision. This pristine home offers: 4119 square feet, 5 bedrooms with a loft, and 3.2 baths Entry-level owner's suite showcases a gas-log fireplace, Brazilian cherry hardwood flooring, and a luxurious bathroom with granite counters, double sinks, and a large soaking tub Northville Schools with Novi taxes Stunning 2-story executive home with an entry-level owner's suite and a 1.12-acre lot Breathtaking foyer with soaring ceiling and turning double staircase with oak handrails and iron spindles Formal living and dining rooms Incredible great room features a 2-story ceiling and cozy gas log fireplace The gourmet kitchen includes granite counters,...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Unless you’re a real estate agent, you’ll probably only attend a home inspection a handful of times in your life, so you might be taken by surprise by a few things! While your inspector and agent will most likely explain any of these things to you, knowing about them in advance can help you avoid some panic or potential embarrassment.Check out these 7 terms and insights that’ll have you looking and feeling like an old pro the next time you’re having a house inspected:1. Follow the inspector… but not too closely! Some home inspectors are glad to have you follow them around the house and ask any questions you have while they’re doing their inspection. Others would prefer if you let them do their thing and just go over what they found once they’re done. Before hiring one, ask which way the...
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By Wendy & Greg Kime, Plymouth MI Real Estate Experts
(Kime Realty)
32375 Bonnet Hill Rd, Farmington Hills Home in Kendallwood SubNew Listing! Wonderfully renovated home in Kendallwood Subdivision. This charming property includes: Freshly painted throughout. Beautiful luxury vinyl tile flooring. Living room with a cathedral ceiling, cozy fireplace, and abundant natural light with views of the backyard. The kitchen includes a SS refrigerator and dishwasher, a built-in oven, bright cabinets with crown molding, and a smooth-surface electric cooktop. 3/4" oak hardwood floors Luxurious ceramic full bath. A spacious lower level adds to the living space. Entertain friends and family on the concrete patio. Farmington schools. Immediate occupancy. More photos and features Listed for $300,000 For a private showing or more information on 32375 Bonnet Hill Road, co...
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The spring real estate market isn’t necessarily the best time to sell your house; you can get your house sold quickly and for top dollar at almost any time of year if you price it appropriately and it’s marketed correctly. But spring is definitely a time of the year many homeowners opt to sell their house.It’s not a bad choice, since there are typically more buyers active in the market looking to buy a home. Plus, there’s a certain energy to the seasonally-driven market which just makes it feel like the perfect time of year to get your house sold quickly and for as much money as possible.Then again, there are usually also more sellers to compete with in the spring as well, which can take away a bit of the edge you might have when selling during a time of year with less competition. But ...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
One of the first rules of sales is that the customer is always right. Even if the store, company, or salesperson did nothing wrong, it’s just good business to give the customer whatever it is they want or need.So, of course it happens in real estate. An agent is sometimes better off letting their client do something they wouldn’t recommend, rather than trying to prove their client is wrong in order to maintain a good relationship. But it’d be a whole lot better if you didn’t do certain things when you’re buying or selling real estate, because they can actually hurt you and make you wish you’d listened to your agent’s advice!Here are 6 things you might feel you’re right about thinking or doing, but shouldn’t insist on being right because they could end up causing you major issues:1) Not ...
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It may not feel or look like spring in many areas yet, but as of Monday March 20th, it’s here! So does that mean the spring real estate market officially begins that day as well? Or does it kick off the weekend before or the weekend after since the first day of spring falls on a weekday? None of the above actually.In fact, the spring market has already begun! Many people in the industry consider January to be the start of the spring real estate market. At least that’s when buyers who plan on buying in the spring often begin their search, and some even end up buying before spring arrives.But there is truly a seasonal uptick when more sellers tend to list their houses, and more buyers are actively out looking in most areas. But when that officially begins depends on where you’re looking t...
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Years ago it was common for children to move out and get a place of their own right after they turned 18, or maybe around 22 if they went to college. But times (and costs) have certainly changed over the years, making it difficult for young adults to move out and get a place of their own. So, most people would agree that young adults can probably use all the time and help they can get from their parents for as long as possible nowadays.Rents and house prices aren’t cheap. Then of course there’s the price of food and utilities every month. And if they went to college, they probably have loans they need to pay off… which is why so many young adults live at home for a lot longer than people used to.But at some point, they have to move out and get a place of their own. And doing that is dif...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
No matter how much buying a house makes sense for your long-term financial well-being, buying your first house can often just seem expensive and totally out of reach. That leads to many younger people putting off buying a home until later in life than they might have, if the costs were lower.But there are plenty of younger people buying homes. Nearly 40% of people under 35 own a home, so it’s by no means impossible or entirely unaffordable.  Homeownership Stats by AgeInfogram As you can see in the graph above, the homeownership rate goes up to just over 60% for those between the ages of 35-44, which is about where the homeownership rate is for the entire US, regardless of age.Interestingly, if you look at the chart below, the homeownership rate has actually hovered between 62 and 68 per...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
According to a recent poll, more than a third of Americans who’ve ever owned a home received financial help from their parents to purchase it, but that number is even higher (at 79%) for younger buyers today. So the chances are, if you have a Boomer dad, he’s going to be chipping in some money—and probably his two cents along with it—when you buy a house.Getting some dough from dad is a double-edged sword. As much as the money is welcome, it often comes with some invisible strings that give him the right to have a say in your home search, which house you buy, and how much you should offer to pay for it.It’s not just dads; you can add moms to the list, too. Many parents have a tendency to want some say in their child’s home purchase, especially when they’re chipping in to help make it po...
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By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
If you’re a renter and live alone, it’s no surprise that it costs you more than if you had a significant other, or at least a roommate, to help pay the rent. But have you ever done the math on exactly how much extra it costs you?According to this Business Insider article, it costs a single person an average of $7,000 more in rent per year than people with a partner or roommate.The obvious solution to avoid this “singles tax” is to find yourself a significant other, or a roomie. But if you live alone, there’s probably a reason why you haven’t already gone either of those routes, like: If you don’t have a partner, finding a significant other isn’t something you can always just snap your fingers and make happen. Even if you could, rushing into a relationship to save on rent probably isn’t ...
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