Home search outside of housing websites may be the key to your ideal home.

What information about the real estate market is true, and what’s not? With so much news going around the industry, like the NAR settlement, interest rate drops, and inventory, it’s easy to get confused. Today, let’s debunk the top three myths of real estate:

Myth #1: I’m waiting for prices to come down. We’ve noticed that many homes are sitting on the market for an extended period. As the days on the market rise, sellers are more open to price adjustment, meaning you’ll see more homes at a reduced price. If you’re a seller, it’s important to work with a proactive real estate agent to represent you. Look for someone who is up-to-date with the current regulations and knows how to use them in your favor.

“Asking local Realtors can help you find homes not on the open market.”

Myth #2: I can’t find anything to buy. Homebuyers assume that they won’t be able to find their ideal house even though sometimes they haven’t proactively gone out to search for one. Having a consultation with a real estate agent can bridge the gap between your ideal house and what’s on the market. Another option would be to expand your home search. Not everything for sale is on Zillow, Trulia, Redfin, or even the MLS—asking local Realtors can help you find homes not on the open market. 

Myth #3: I don’t have cash for a down payment. While many of our luxury market transactions require cash purchases, many homebuyers rely on good financing to buy a home. Many financing programs and grants are available, especially for first-time homebuyers, where down payments can be deferred for a certain period. It’s better to ask if there are programs you could qualify for.

If you have more questions about real estate, feel free to call. You can contact us by phone at (561) 843-4464 or by email at DanKarp@kw.com. We are looking forward to talking with you!