Myth vs. Reality: Real Estate Edition

There are many common misconceptions for both buyers and sellers who are interested in diving into the real estate market.

Whether you are a buyer trying to balance interest rates and home prices to determine the best timing for a purchase or are a seller analyzing upgrades or repairs with the best return on investment before listing your home, it helps to have a professional on your side. In fact, it’s essential!

Lean on a trusted real estate advisor to help separate popular myths from reality when it comes to your next real estate transaction.

Buyer Myth: It’s a wise idea to wait until home prices and mortgage rates fall before I buy a home. Buyer Reality: Because most experts agree that rate and prices will continue to inch up this year, it may cost you more the longer you wait.

Buyer Myth: I want my offer to really stand out, so I’m going to waive my home inspection. Buyer Reality: Moving forward without an inspection could result in unpleasant surprises and a great deal of money in repairs. Proceed cautiously.

Seller Myth: In this market, I can pretty much just shoot for the moon with my listing price. I’m the one in control. Seller Reality: Pricing a house correctly for your marketplace takes expertise. The market changes daily. Listen to your real estate professional. Don’t scare away qualified buyers with unrealistic listing prices.

Seller Myth: My house needs to be a pristine, renovated masterpiece before hitting the market. Seller Reality: Some renovations might not be a great idea in your current market. Take your agent’s advice and make the changes that really matter in your location and price range.

Takeaway: Listen to your real estate advisor carefully. Markets change quickly and you’ll want to lean heavily on your agent. Don't leave it to chance. Check out my Seller Resources or my Buyer Resources and give me a call at 925-351-4924.