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You’ve probably heard the saying, “don’t believe everything you hear.” When it comes to buying or selling a home in today’s market, this advice couldn’t be more relevant. With so much misinformation out there, having a knowledgeable real estate agent by your side is crucial for navigating the market effectively.
Here are some common misconceptions about the housing market that an experienced agent can help clear up:
“I’ll Get a Better Deal Once Prices Crash”
Many people are waiting for a market crash to snag a bargain, but let’s set the record straight. Unlike the housing crisis of 2008, which was fueled by an oversupply of homes, today’s market faces an undersupply. Data shows that a dramatic price drop isn’t on the horizon. Waiting for a crash could mean missing out on the opportunity to buy in a competitive market.
“I Won’t Be Able to Find Anything to Buy”
Worried that you won’t find a suitable home? Recent trends show that the supply of homes for sale has increased. While inventory is still lower than pre-pandemic levels, it’s improving. According to Realtor.com, there are more homes available now than there were last year. This means your chances of finding the right home are better than you might think.
“I Need 20% Down to Buy a Home”
Many believe that a 20% down payment is a must, but that’s not the case. Fannie Mae reports that about 90% of consumers overestimate or are unaware of the actual down payment requirements. In reality, first-time homebuyers often put down around 6%. Depending on the type of mortgage, you might only need 3.5% or even 0% down. It’s important to explore different loan options and find what works best for your situation.
The Role of a Real Estate Agent
If misconceptions are holding you back, it’s time to consult a trusted real estate agent. The Marion DeSantis Team, with our expertise will provide you with accurate information, ensuring you make informed decisions.
Bottom Line
Don’t let misinformation stop you from achieving your real estate goals. Reach out to us for reliable advice and guidance. We’re here to help you navigate the market with confidence and clarity.
Contact us today to get the facts you need and move forward with your real estate plans. 📞🏡
