Addressing and debunking fourimportant buyer and seller myths.
In today’s hot market, it’s more critical than ever to steer clear of misinformation. A number of estate myths have been circulating around, today I’ll address a few key misconceptions and talk about the realities behind them.
Buyer Myth: “I should wait to buy until home prices and mortgage rates fall.”
In reality, experts say prices and rates will continue to rise this year. That means it’ll cost you more the longer you wait—rates aren’t going back to where they were anytime soon. Because inventory is low and demand is high, prices likely won’t be dropping either.
Seller Myth: “I can set the asking price for my house to whatever I want.”
You can’t just pick any price and expect your home to sell for top dollar. Today’s buyers market are being a little bit pickier because they believe the market is shifting. Pricing your house appropriately for the market takes expertise. A real estate professional can help you set a competitive price that will generate multiple qualified offers and ultimately get you the best price. Even homes in need of upgrades receive immediate attention if they’re priced well.
Buyer Myth: “Waiving the home inspection is a good idea if I want my offer to stand out to sellers.”
Though we often recommend that our buyers reduce the number of contingencies in their offers or even buy a home as is, waiving your home inspection is not a good idea. An inspection tells you the condition of the home and can help prevent unpleasant surprises. Waiving it could cost you. Seller Myth: “I have to renovate my house before selling it.”
We would never recommend you to do a renovation if you weren’t going to get a good return on your investment. Not all projects add value to your home, so why waste your time? Partner with a real estate professional for expert advice on which projects would ultimately boost your bottom line.
When it comes time for you to buy or sell a home, remember these misconceptions so that you can make the best decisions for yourself.
If you have any questions or need assistance with your transaction, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.