Detroit Real Estate

Farmington Hills home buying tips -  Absolutely get aHome Inspection

There is no question in mind whether to get a home inspection or not.  In my mind it is a given to get a home inspection.  Remember buying this Farmington Hills MI home is one of the biggest financial investments of your life. Even if you don't have much money, paying for a qualified home inspection before you buy a home isn't throwing away money.  This could be the best money you spend when buying a Farmington Hills MI home.  A home inspection is spending "a little extra" for peace of mind; it's absolutely essential to find out if you are buying a money pit.  You don't want to be cheap, and not pay for a home inspection, and then spend hundreds if not thousands of dollars for repairs later.

So ask your friends, family, or co-workers for a referral of a good local home inspector.

Here are some questions to ask the home inspector:

How did the inspector get trained?  Has the inspector been part of the building trades? How long has the inspector been in business? Does he or she attend continuing education classes? Does the inspector belong to a professional organization like the American Society of Home Inspectors (ASHI) or National Association of Home Inspectors (NAHI) or both?  If they do belong to an association, what are the requirements for membership? Entry should require more than filling out a form and application fee. Does the inspector carry E & O insurance (Errors & Omissions)? This type of malpractice insurance may come in handy if the inspector overlooks a major problem.

My opinion is always get a home inspection no matter how good the house looks.  Remember a home inspection is to discover if there are any hidden issues.  I have been around a while looking at house and yet a good home inspector always amaze me when they find a hidden issue.

I hope this Farmington Hills home buying tip about getting a quality home inspection will save you money in the long run and protect you from buying a money pit.

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Farmington Hills relocation information

Sylvan Lake homes for sale MI

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 Here are the Millage rates for Farmington Michigan 2009

2009 Farmington MI Tax Rates, in Mills, Are:
City
City Operating	10.5421
Debt	2.2742
Street Improvement Program	1.0000
City Total	13.8163
Oakland County	5.3361
Oakland Intermediate School District	3.3690
Oakland Community College	1.5844
Farmington Community Library	1.5856
Farmington Public Schools
Homestead	16.1442
Non-Homestead	25.8000

So the total millage rates for Farmington Michigan  (without the school millage rate):

 Homestead                       Non-Homestead

29,9605                             39.61663

 

The 2008 -2009 Farmington Millage rates were

Homestead                        Non-homestead

41.3829                            51.4914

 

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Farmington MI real estate information

Oakland County lake front Real estate

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 Oakland County real estate

 Here is January's Median sale prices and the number of sales.  Now there is an interesting statistic.... the median sales price was up.  That is a good sign for the metro Detroit real estate market.

Sales Statistics for OAKLAND County MI

Single Family Residence
Time Period	Number of Sales	Median Sale Price
Jan 2010	773	$130,000
Jan 2009	642	$121,950
Dec 2009	1,117	$125,000
Dec 2008	655	$134,600
2010 YTD	1,143	$121,480
2009	10,554	$118,000

Condominium
Time Period	Number of Sales	Median Sale Price
Jan 2010	230	$113,500
Jan 2009	184	$125,500
Dec 2009	307	$110,000
Dec 2008	198	$150,000
2010 YTD	316	$105,000
2009	2,896	$115,750

Here is more information about

Brighton / BrightonTownship

Commerce Township

Farmington & Farmington Hills

Milford

Novi

Southfield

South Lyon / Lyon Township

 

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It depend on many different aspects on how much being on a main road reduces the value of the Farmington Hills home or any Metro Detroit home.  Here are some of the vary degrees of being on a main road.

• Is it a major 4 or 5 lane road?  Or is it a smaller 2 or 3 lane road?  Is it a freeway?
• Is it a busy road with lots of traffic noise? 
• Is the road to the side of the house?  Are you the first house in the sub?
• Is the back yard facing the road?  People with children don't like that many times.
• Is the road blocked by shrubbery or a wall.   A house with a "barrier" that blocks the view and gives the security of a solid barrier is best.  Homeowners like the security of feeling protected and having a wall or separation from the road.
• Is the front of the house facing the road?
• Is the road a gravel road with lots of dust?
• Is there a hill between the road and the house?

To some people a road doesn't bother them at all.  To others with kids it does.  One of the biggest things to remember is that a home on a road will be harder to sell in the future.  You have a smaller pool of buyers for Farmington Hills home because some people will not even look at a home on a main road.  Whether it is a Farmington Hills home or any other Metro Detroit home a road usually does reduce the value.

But should you buy a house on a main road?  Sure if you want the house and it fits your needs.  The cost reduction because of the road may get you into a home that you could not otherwise afford.  It may be the home that meets all of your wants.  So don't let a road stop you from buying the Farmington Hills home.

So now the question is "How much lower should I bid because of the road?"  What makes it a good value now?  But my opinion a front facing home to a busy road can decrease the value of a home up to 10% from a similar home with similar amenities in a subdivision.  

I hope this helps you. 

•  What else detracts from the value of a Metro Detroit home?
•  What adds value to a Metro Detroit home?
• Metro Detroit first time home buyer tips
• Oakland County lake real estate and Oakland County Lake information

                         

                               ~~~       Search Metro Detroit area home listings       ~~~

 

Russ Ravary your metro Detroit real estate agent

 

 

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If you are thinking of relocating to Farmington Hills Michigan and buying a piece of Farmington Hills real estate, here is Farmington Hills demographics.  This will give you a glimpse of the city and what it's residents characteristics are. 

Population, 2006 estimate	79,793	10,095,643
Population, percent change, April 1, 2000 to July 1, 2006	-2.8%	1.6%
Population, 2000	82,111	9,938,444
Persons under 5 years old, percent, 2000	6.0%	6.8%
Persons under 18 years old, percent, 2000	23.1%	26.1%
Persons 65 years old and over, percent, 2000	14.4%	12.3%
Female persons, percent, 2000	51.6%	51.0%
White persons, percent, 2000 (a)	82.9%	80.2%
Black persons, percent, 2000 (a)	6.9%	14.2%
American Indian and Alaska Native persons, percent, 2000 (a)	0.2%	0.6%
Asian persons, percent, 2000 (a)	7.5%	1.8%
Native Hawaiian and Other Pacific Islander, percent, 2000 (a)	Z	Z
Persons reporting two or more races, percent, 2000	1.9%	1.9%
Persons of Hispanic or Latino origin, percent, 2000 (b)	1.5%	3.3%
Living in same house in 1995 and 2000, pct 5 yrs old & over	55.8%	57.3%
Foreign born persons, percent, 2000	15.7%	5.3%
Language other than English spoken at home, pct age 5+, 2000	18.5%	8.4%
High school graduates, percent of persons age 25+, 2000	91.7%	83.4%
Bachelor's degree or higher, pct of persons age 25+, 2000	47.9%	21.8%
Mean travel time to work (minutes), workers age 16+, 2000	26.0	24.1
Housing units, 2000	34,858	4,234,279
Homeownership rate, 2000	66.9%	73.8%
Median value of owner-occupied housing units, 2000	$227,300	$115,600
Households, 2000	33,559	3,785,661
Persons per household, 2000	2.41	2.56
Median household income, 1999	$67,493	$44,667
Per capita money income, 1999	$36,134	$22,168
Persons below poverty, percent, 1999	4.1%	10.5%

The 2010 census will be taken soon.  There are many changes in Farmington Hills demographics in the last ten years.  So some of this will be a little inaccurate.

Farmington Hills Michigan information

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Farmington Hills real estate homes blog

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