Be aware of the myths surrounding today's real estate market.

Are you aware of the myths surrounding today's real estate market that may be costing you valuable opportunities? We’re here to debunk these myths and ensure that home buyers and sellers are well-informed. Here are the misconceptions commonly heard in the market and the truth about them:

Myth #1: Interest rates are extremely high

One prevailing myth revolves around interest rates. Many individuals believe that interest rates are skyrocketing at rates as high as 8% or 10%. However, the reality is quite different. Interest rates are currently hovering around 6% to 7%, subject to variations based on factors such as debt-to-income ratio and credit score. In fact, when considering the historical data over the past 30 years, the average interest rate has been approximately 6.5%. It's crucial to dispel the misconception that rates are unusually high and understand that they remain within a normal, steady, and healthy range.

““Making an informed decision requires accurate information.””

Myth #2: Conventional 20% down loan is the only option

Another myth that hinders potential buyers is the belief that a conventional 20% down loan is the sole mortgage product available. This misconception is far from the truth. With changing interest rates, various loan products have resurfaced in the market, providing more options than we have seen in years. To explore the best loan product for your needs, it's essential to engage in conversations with a lender. If you don't have a preferred lender, we would be honored to recommend some trustworthy professionals. Matching the loan product to your goals and financial situation ensures a better fit for your requirements.

Myth #3: Sellers have missed the market

Many sellers erroneously assume that they have missed their chance due to low inventory and buyer demand. However, this couldn't be further from the truth. Despite low inventory levels, the market remains favorable for sellers. Strong pricing and multiple offers are still prevalent at certain price points. It's important not to lose hope or believe that you have missed your opportunity. Reach out to us today to discuss your situation, ask questions, and clarify any myths or misconceptions you may have encountered. Making an informed decision requires accurate information, and our team is here to provide you with the facts you need.

Don't let misinformation hinder your progress in the market. Call us at 651-998-9829. We are here to help you navigate the market and ensure your success.