Buying Myths

The Truths Young Homebuyers Need To Hear

Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Interest Rates, Millennials, Pricing, Rent vs. Buy /

\"TheFor many young or first-time homebuyers, purchasing a home can feel intimidating. A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford. It found: “1 in 4 underestimated their buying potential by $150k or more” “1 in 4 underestimated the increase in value […]

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What To Expect as Appraisal Gaps Grow

Buying Myths, Down Payments, For Buyers, For Sellers, Move-Up Buyers, Pricing, Selling Myths /

\"WhatIn today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates: “The frequency of buyers being willing […]

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Pre-Approval Makes All the Difference When Buying a Home

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

\"Pre-ApprovalYou may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of your budget so you stand […]

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5 Things Homebuyers Need To Know When Making an Offer

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

\"5When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in […]

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Hope Is on the Horizon for Today’s Housing Shortage

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

\"HopeThe major challenge in today’s housing market is that there are more buyers looking to purchase than there are homes available to buy. Simply put, supply can’t keep up with demand. A normal market has a 6-month supply of homes for sale. Anything over that indicates it’s a buyers’ market, but an inventory level below […]

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In Today’s Market, Listing Prices Are Like an Auction’s Reserve Price

Buying Myths, For Buyers, Pricing /

\"InFor generations, the process of buying and selling a home never really changed. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price […]

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How Misunderstandings about Affordability Could Cost You

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

\"HowThere’s a lot of discussion about affordability as home prices continue to appreciate rapidly. Even though the most recent index on affordability from the National Association of Realtors (NAR) shows homes are more affordable today than the historical average, some still have concerns about whether or not it’s truly affordable to buy a home right […]

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Buying a Home Is Still Affordable

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Pricing, Rent vs. Buy /

\"BuyingThe last year has put emphasis on the importance of one’s home. As a result, some renters are making the jump into homeownership while some homeowners are re-evaluating their current house and considering a move to one that better fits their current lifestyle. Understanding how housing affordability works and the main market factors that impact […]

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Don’t Forget to Budget for Closing Costs

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing /

\"Don’tWhen buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. What Are Closing Costs? According […]

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