Spooky Real Estate Myths that Need to Die
Every October, haunted houses aren’t the only things scaring people. Real estate myths have been creeping through social media and open houses for years, and some of them just won’t die. Let’s put a few of these to rest. Below, I’m separating fact from fiction on some of the most common myths I hear in today’s market. Myth #1: You need 20% down to buy a home. Truth: You don’t need a full 20% to buy a home. The real horror story is waiting too long because of bad info. According to the National Association of REALTORS® , the median down payment for all homebuyers in 2024 was 18% and just 9% for first-time buyers. Depending on the loan type, you could qualify with even less. Just keep in mind that buyers who put down less than 20% often pay private mortgage insurance (PMI). Myth #2: Fall is a bad time to list. Truth: Serious buyers don’t hibernate. Fall listings often get more attention because there’s less competition. Some Octobers in Pembroke Pines...