Buying Myths

If You’re a Buyer, Is Offering Asking Price Enough?

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers /

\"IfIn today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate […]

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Two Reasons Why Waiting a Year To Buy Could Cost You

Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing /

\"TwoIf you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home. To determine if you should buy now or wait, you need to ask yourself […]

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Is a 20% Down Payment Really Necessary To Purchase a Home?

Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Millennials /

\"IsThere’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is […]

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What You Can Do Right Now To Prepare for Homeownership

Buying Myths, First Time Home Buyers, For Buyers, Rent vs. Buy /

\"WhatAs rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com: “The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has […]

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What Buyers and Sellers Need To Know About the Appraisal Gap

Buying Myths, For Buyers, For Sellers, Housing Market Updates, Pricing /

\"WhatIt’s economy 101 – when supply is low and demand is high, prices naturally rise. That’s what’s happening in today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals. In recent months, it’s become increasingly common for an appraisal to come in below the […]

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More Young People Are Buying Homes

Buying Myths, Demographics, First Time Home Buyers, For Buyers, Gen Z, Housing Market Updates, Millennials, Rent vs. Buy /

\"MoreThere’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief. Odeta Kushi, Deputy Chief Economist for First American, explains why millennials have put off certain milestones linked to homeownership. Those delays led to their […]

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Are Houses Less Affordable Than They Were in Past Decades?

Buying Myths, For Buyers, Interest Rates, Pricing /

\"AreThere are many headlines about how housing affordability is declining. The headlines are correct: it’s less affordable to purchase a home today than it was a year ago. However, it’s important to give this trend context. Is it less expensive to buy a house today than it was in 2005? What about 1995? What happens […]

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Looking for a Place To Call Home? Consider a Condominium.

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Pricing /

\"LookingIt’s no secret that one of the top stories in today’s real estate market is low housing supply and high buyer demand. If you’re a first-time buyer looking for a starter home or are someone who’s interested in downsizing, it may be worth considering a condominium (condo) as a worthwhile option. In fact, trends indicate […]

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Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes

Buying Myths, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, New Construction /

\"SurprisingIn April, the National Association of Home Builders (NAHB) posted an article, Home Buyers’ Preferences Shift Towards New Construction, which reported: “60% of people who were looking to buy a home in 2020 said they’d prefer new construction to an existing home.” However, it seems buyers are now shifting their preferences back to existing homes. […]

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