Real Estate Myths Debunked!
There have been unwarranted fears about a housing market crash.
But the truth is the real estate market is as competitive as it’s ever been!
It's time to debunk some myths about the current state of the competitive real estate market:
Buyer Myth #1: I should wait to buy until home prices and mortgages fall.
Reality: If you're thinking of buying a home, you may want to do it sooner rather than later. According to experts, prices and mortgage rates are expected to continue to rise this year. That means the longer you wait to buy, the more it will cost you. If you're able to buy now, it may be a good time to do so.
Buyer Myth #2: Waiving the home inspection is a good idea if I want my offer to stand out.
Reality: An inspection is an important step in the home buying process. It allows you to learn about the condition of the home and can help prevent any unpleasant surprises. Waiving an inspection could end up costing you a lot of money in the long run.
Seller Myth #1. I can set the asking price for my house at whatever I want.
Reality: When you are ready to sell your house, pricing it appropriately for the market is crucial. You don't want to price it too high and have it sit on the market for a long time, or price it too low and leave money on the table. A real estate professional can help you assess the market and come up with a competitive listing price.
Seller Myth #2. I have to renovate my house before selling it.
Reality: Some home renovations may not be worth the investment in today's market. If you're planning to sell your home soon, certain renovations may not add enough value to justify the cost.
That's why one of the smartest things you can do is to partner with a real estate professional. A real estate professional can help you understand the current market trends and what home improvements are most likely to add value to your home. This knowledge is invaluable as you make decisions about how to best invest your time and money in updating your home.
In conclusion, there are many myths about the current state of the competitive real estate market. The reality is that the market is still strong, and there are many opportunities for buyers and sellers alike.
Do you have more questions about the real estate market?
Matt Smith Real Estate Group is here to help. We have the tools and resources you need to get started—and stay on track with every step of your home buying and selling needs.
If you’re ready to start on your home journey, DM us!