We’ve helped a lot of buyers and sellers. So, it comes as no surprise that we’ve heard mostly all of the concerns they have had throughout the buying and selling process.
Here’s why these 5 common statements shouldn’t be a concern at all.
#1: “Homes are way overvalued today, there is nothing I can afford.”
With the combination of low interest rates, home affordability is still a reality for middle-income Americans. Although affordability is bound to decrease, compared to historic values and interest rates, home affordability is still very good.
#2: “My house is worth much more than the neighbor’s house because…”
Sellers don’t determine how much their house is worth. There are many factors that determine home much your home is worth. Determining a home’s value is not as simple as you may think. Be sure to speak with a Realtor regarding your home’s value before you place your own value on it.
#3: “I’m waiting for mortgage rates to fall.”
By waiting around for 3% rates, a potential buyer is taking a great risk that the cost of a home is only going up, and they may well be priced out of the market in the near future.
#4: “I can’t buy a house yet, I don’t have 20% to put down.”
Putting 20% down might be the ideal situation, and certainly the best case scenario, it’s not the only option. Very few have that amount, especially first-time buyers. There are many loan programs available that require less than 20% for a down-payment.
#5 “But the online Valuation of my house was more than you’re telling me!”
Zestimates are more than 10% off about 1/3 of the time. Online valuations can never take the place of a local professional CMA, comparative market analysis.