Birmingham, Bloomfield & Troy real estate and homes for sale in Michigan, relocation - John Huyck, REALTOR® John Huyck REALTOR(r) for Birmingham, Bloomfield & Troy, Michigan real estate - NUMBER1EXPERT™ John Huyck NUMBER1EXPERT(tm) for Birmingham, Bloomfield & Troy, Michigan real estate

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John Huyck, REALTOR®, real estate agent and broker for Birmingham, Bloomfield & Troy Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)


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Economy: Birmingham, Bloomfield & Troy Michigan home buying, real estate listings, and homes for sale in Oakland County, MI
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Find Out More About the Birmingham, Bloomfield and Troy Area Economy & Job Market 

Due to their proximity to Detroit, the cities of Bloomfield, Troy, and Birmingham had economies that were significantly wedded to the automotive industry. Detroit city’s cohesive and energetic efforts to diversify and revitalize the economy after the automotive industry-led slump are consistently paying off. The government and health-care industry now employs more people than car and auto-part production, and tourism is on the rise. Detroit also creates steel, fabricated-metal, and paper products. A printing and publishing industry is growing; chemicals are manufactured; and food and beverages processed and packed. Salt mines lie under southwestern sections of the city.  

The majority of the Troy workforce holds executive or managerial positions, followed by technical, sales, and administrative support jobs; only 5% work on the production line. The average household income is notably higher than the Michigan median as are house values. Low unemployment and high education standards also characterize the town. 

Similarly, Bloomfield’s median household income is above the state’s average, as are its house values. A high percentage of the population has a bachelors degree or higher. Educational, health, and social services hire the majority of residents, followed by the manufacturing sector (automotive and other production). 

Most Birmingham residents work in professional, management, and scientific positions, followed by educational, health, and social service jobs; manufacturing is a close third. Like Bloomfield, Birmingham residents enjoy a higher household income and house value than the state average, and a significantly lower rate of unemployment. 

Request my Free Birmingham, Bloomfield and Troy Relocation Package. It's packed full of useful and important information about the Birmingham, Bloomfield and Troy, Michigan area. Don't move here without it! Remember: I'll send it to you for free and without obligation. Just fill out the form and I will send it right out... 

Want the inside scoop on the local economy? It's my job to know! Ask me any question. Or request my FREE Birmingham, Bloomfield and Troy relocation package. I promise to get back to you quickly... 

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Real Estate Tips
Financing Your Home >The Margin on an ARM

When you are shopping for an Adjustable Rate Mortgage, the important thing to consider is the margin. Each time your loan is adjusted, the new interest rate will be tied to an index of Treasury notes. The margin is the percentage point above that index where your rate will be set.

Let's suppose that you have a one-year ARM with a 2.5 margin. Your initial rate was 7.5%, and during the first year of the loan, the index of 1-year Treasury notes was at 6.25%. The rate for the second year of your loan would be adjusted to 8.75%. With a margin of 2.75, it would increase to 9%. Some lenders offer lower initial rates with higher margins. In this case, the subsequent rates could be higher after the first year, than if you chose a higher initial rate with a lower margin.

If you are confused by the various mortgage offers, ask a professional mortgage broker to sit down with you and show you how it works. Today the rates and different financial possibilities are so variable that it is a good idea to talk to a mortgage broker--they usually know where the best rates can be found.

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Real Estate Trivia
Q 
What characteristics must a home have to be considered a prestigious property?

A 
Unique architectural design; Highly desirable location; celebrity status--owned by a well-known person.
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John Huyck, REALTOR®, real estate agent and broker for Birmingham, Bloomfield & Troy Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

John Huyck
Max Broock/Real Estate One

1821 West Maple
Birmingham, MI 48009
248-709-5553
248-901-1245
Fax: 248-644-0571
johnhuyck@johnhuyck.com

John is a lifetime resident of the Metro Detroit area. He began practicing as a Realtor in 1988 and has earned many awards at both the local and national levels throughout his tenure. He continues to be one of Oakland County’s top producers year after year. Whether you are buying or selling, let John be YOUR agent. His professional and personal knowledge of Oakland County real estate will prove to be invaluable in your venture to a successful close.

Equal Housing MLS REALTOR


Max Broock/Real Estate One real estate and homes for sale in Birmingham, Bloomfield & Troy Michigan

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