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Don’t Fall for These Common Housing Myths

When it comes to buying or selling a home, you’ve probably heard a lot of advice—some of it pretty questionable. The truth is, not everything you hear is accurate. That’s why having a reliable real estate expert to clear things up is key. Let’s bust some of the biggest myths floating around right now.

  1. “I’ll get a better deal if I wait for prices to crash.”

Thinking home prices are about to nosedive? Not so fast. While the market varies by location, the data shows a big crash isn’t in the cards. The 2008 housing crash happened because there were way too many homes for sale. But today, there’s actually a shortage of available homes. So, if you’re holding out for prices to drop, you might be waiting a long time. The market just doesn’t look like it’s heading that way.

  1. “There’s nothing out there to buy.”

If you’re worried about not finding a home, you might not have talked to a real estate pro recently. Yes, inventory has been tight, but it’s actually getting better. In fact, there are more homes on the market now than there were this time last year. So, while the housing supply hasn’t fully bounced back to pre-pandemic levels, things are improving. The bottom line? Finding a home is way more doable than you think.

  1. “I need 20% down to buy a house.”

This is a big one—and it’s just not true. A lot of people still think they need to save up 20% of the purchase price to get a mortgage, but that’s far from the case. On average, first-time buyers are only putting down about 6%. Some loan programs even let you buy with as little as 3.5%, or sometimes even 0%, down. So, if the thought of a huge down payment is keeping you from buying, it’s time to take a second look.

Why Having a Real Estate Agent Matters

If any of these myths have you second-guessing your next move, it’s time to reach out to a trusted real estate agent. They’ll give you the facts and help you navigate the market with confidence.

Bottom Line

Got questions about what you’ve heard? Let’s chat. Having someone on your side who knows the facts makes all the difference.

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