There’s a lot of advice out there when it comes to real estate. Some of it’s helpful… but a lot of it is outdated, oversimplified, or just plain wrong.
Whether you’re casually exploring your options or just love browsing homes online, you’ve probably heard a few of these. So today I’m breaking down 5 of the most common real estate myths — and what’s actually true in today’s market.
🔍 Myth #1: “You Need 20% Down to Buy a Home”
The truth: That may have been the rule of thumb 20 years ago, but today? Many buyers put down far less — and still get great rates and solid terms.
-
Some conventional loans allow as little as 3–5% down
-
FHA loans go as low as 3.5%
-
VA and USDA loans offer 0% down for qualified buyers
Yes, putting more down can lower your monthly payment, but it’s not required to get started.
🔍 Myth #2: “The Zestimate is What My Home Is Worth”
The truth: Automated estimates (like Zillow’s Zestimate) are a starting point — not a final answer.
They often don’t account for:
-
Renovations or updates
-
Views, layout, lot features, or neighborhood pockets
-
Local buyer trends or seasonality
-
Real-time supply and demand
If you’re curious about your home’s value, the best way to find out is to get a comparative market analysis (CMA) from a local expert (👋 hi, I do those!).
🔍 Myth #3: “Spring Is the Best Time to Buy or Sell”
The truth: Spring is popular, but it’s not the only good time — and sometimes it’s actually harder.
In spring:
-
More buyers = more competition
-
More listings = more choices — but also more bidding wars
-
Sellers tend to price higher due to demand
Sometimes the best deals happen in the off-season (like fall or winter), when fewer people are in the market — but the serious ones are still looking.
🔍 Myth #4: “You Should Price High to Leave Room to Negotiate”
The truth: Overpricing your home is one of the fastest ways to turn off buyers.
Today’s buyers are educated and comparison-shop hard. If your home feels overpriced:
-
You get fewer showings
-
It sits on the market longer
-
You may end up reducing anyway — often for less than if you’d priced right to start
In most markets, a strong pricing strategy = price it to sell, not to test.
🔍 Myth #5: “Real Estate Agents Just Unlock Doors and Take a Cut”
The truth: Good agents do way more than open doors.
Here’s what you really get with a strong agent:
-
Local expertise and pricing strategy
-
Access to off-market or early listings
-
Skilled negotiation and problem-solving
-
Trusted vendor referrals (lenders, inspectors, contractors)
-
Timeline and transaction management from start to close
You’re not paying for a key — you’re paying for experience, strategy, and peace of mind.
Real estate is one of the biggest decisions most people make — and it deserves real, up-to-date information.
If you’ve been holding back because of one of these myths, I’d love to be a resource. Even if you’re just exploring or want to get your facts straight for later, I’m here when you’re ready.
Whether you’re just curious or ready to dive in, I’d love to help you navigate the process with confidence. Call/text me at 773-865-5661 or email me at [email protected]
