If you’ve been thinking about buying your first home, chances are you’re getting tons of advice from everyone you've mentioned it to. It can be pretty overwhelming, and that's why I want to share 3 home buying myths you need to know if you’re considering homeownership. These will help debunk some of the things you may be hearing from people who probably have great intentions, but probably aren’t professionals. MYTH #1: You Have to Put 20% Down to Purchase a Home This could be the biggest home buying myth of all time! Putting a minimum of 20% down on a house does have some financial benefits .. BUT it isn’t required. There are several options when it comes to financing your home so you’ll want to meet with a local lender to discuss these options before jumping head first into the process. There are loans that require as little as 3% down as well as resources for buyers struggling with down payment money and first time home buyer programs. MYTH #1 Tip: Do not get pre-approved from an online lender. Find someone local who you can actually sit down with, understand your options and make the best decision for your financial future. (I can refer you to some great ones.) MYTH #2: It Doesn’t Matter if I Don’t Have a Real Estate Agent Some buyers prefer not to commit to working with one specific agent. That means they don’t take advantage of hiring a buyer’s agent to help them with their home purchase. That means they’re on their own for scheduling showings, being alerted of new listings, and when it comes time to negotiations, they won’t have anyone working in their best interest. This is not a great combination- especially in this market. It can prevent you from getting an accepted offer on the house you really love because you haven’t been educated on the market or how quickly you need to make a move. Right now, that's QUICK! It could also result in you losing money or overspending because you don’t have anyone negotiating on your behalf. I don’t know about you, but if I’m buying my first home, or any home, for that matter, that does not sound like a great situation. MYTH #3:Prices probably won't keep rising forever. But a market crash isn't likely, based on who's buying homes now: people with low debt-to-income ratios who put a lot of money down after losing out on a few homes to other buyers. "They will not be the first to abandon their homes if there is a downturn in the economy," said Kenneth ErI of Climb Real Estate. "These homes are owner-occupied and not highly leveraged like in the run-up to the last crash."   There are certainly a few more myths, but I'm here to help you navigate them. If you think you're ready to purchaase, give me a call, or email me here. I'd love to help!

If you’ve spent any time on Zillow (and I know you probably have!) you have probably wondered how accurate those numbers actually are. It’s one of those things- when you want to sell, you really want that number high, but when you’re ready to buy, you want it to be low. Human nature, right? Well, it can’t be right all the time, and it’s often not wrong when we want it to be. What all of us who actually work in real estate all day, every day would LIKE to say is, “Don’t pay any attention to Zillow.” Just don’t look at it. But we know that’s not going to happen. So, after it popping up in conversations with clients a few times in the past couple of weeks, in a few ways, I thought I’d break it down for you, FAQ style. Q: Are the numbers right? A: Well, that’s not a straight yes or no answer. Zillow, like many things, uses a complicated algorithm. This is based on recently sold homes (in Mls or not), tax records and assessments, and other bits of public info available. All of this information gets mashed up and that’s what creates the estimate. Tax records have the house listed as 5 bedrooms instead of 4? Public records didn’t update that you added a bathroom? Someone in the City or County make a mistake entering info? You get the idea. Bad info in, bad info out. (One of the MANY reasons you want to get a permit if you’re added baths, bedrooms, etc.) Q: Well, where do they get their information? A: As I mentioned above, that info is compiled from sales data, public records, etc, on around 100 million homes in the US. Q: What if my info is wrong? Can I correct it so my Zestimate is accurate? A: Well, kind of. You can, in fact, correct it. It is not usually quick, nor easy. You do have to reach out to them directly, and it may take some follow up. Even if you correct it, though, the correction may not change your Zestimate. If you put in a new basement bathroom, but that doesn’t add a lot of value in your neighborhood or area, you’re not going to see a real bump in the Zestimate. Q: My house is the nicest house in the neighborhood, my lot is twice as large, and I have so much more square feet! Why is the Zestimate only $5000 more than my neighbor’s? A: Well, Zillow can only work with the data it has, and the more data, generally, the more accurate the information is. If you have a neighborhood with many similar homes, that sell fairly regularly, your Zestimate will likely be somewhat accurate. If you have a great house in a rural area that doesn’t have a lot of turnover? Well, that will not be so accurate. A few other thoughts and things to note. There is no substitute for a realtor, with experience and knowledge of your area, to give you an accurate valuation of your home. Zillow has no real way of knowing if your home (or the one you are looking at) has 2000 square feet of shag carpet, or 2000 square feet of the highest quality hardwoods. They even disclose that their average Zestimate can be up to 10% inaccurate on average. While it’s a great tool to get started, and it’s certainly user friendly, you can’t been hands on accuracy. (Don’t get me started on the listings it regurgitates every so often that have already sold and closed!) If you have questions about Zillow, or what I do, please reach out and let me know. If you’re just toying with the idea of buying or selling a home, message or call me. I’d love to talk, and it costs nothing to have a conversation and get a good valuation!

If you’ve been thinking about buying your first home, chances are you’re getting tons of advice from everyone you talk to. It can be pretty overwhelming. I’d love to share with you 3 home buying myths you need to know if you’re considering homeownership. These will hopefully help debunk some of the things you may be hearing from people who want to give their advice with the best of intentions, but who probably aren’t professionals. MYTH #1: You Have to Put 20% Down to Purchase a Home This is probably the biggest home buying myth of all time! Putting a minimum of 20% down on a house does have some financial benefits .. BUT, contrary to popular belief, it isn’t required. There are a number of options when it comes to financing your home so you’ll want to meet with a local lender to discuss them before jumping head first into the process. Did you know there are loans that require as little as 3% down as well as resources for buyers struggling with down payment money. First time home buyer? There are some great programs out there just for you. MYTH #1 Tip: Do not get pre-approved from an online lender. Find someone local who you can actually sit down with, understand your options and make the best decision for your financial future. I have some great lenders locally who I work with regularly. Trust me- I’ve been doing this a minute, and the ability to have someone locally is invaluable! MYTH #2: It Doesn’t Matter if I Don’t Have a Real Estate Agent Some buyers prefer not to commit to working with one specific agent and therefore don’t take advantage of hiring a buyer’s agent. This means they’re on their own for scheduling showings, being alerted of new listings and when it comes time to negotiations, they won’t have anyone working in their best interest. Not having an agent on your home buying team can even prevent you from getting an accepted offer on the house you really love. You may not be educated on the market or how quickly you need to make a move. It could also result in you losing money or overspending because you don’t have anyone negotiating on your behalf. I don’t know about you, but if I’m buying my first house, or any house for that matter, that does not sound like a situation I want to be in. Finally, as a buyer, you don’t pay the buyer’s agent a thing. While some folks think that means they’ll save money, they usually don’t- the commission is set by the homeowner and the listing agent (so no agent often just means they get it all) in addition to all of the value you get from a buyer’s agent listed above. MYTH #3: Wait Until “Spring” to Start Looking For Homes Real Estate Agents hear this ALL. THE. TIME. I want to share why you shouldn’t wait for a specific time of year to start your home search, especially Spring. There is less competition when you’re not in the prime months for buying and selling real estate. Buying in the “off season” could save you money because there are less buyers out which means less potential competition when writing an offer. It’s best to start your home search when you are ready rather than waiting for a certain time of year. There are always new listings coming on the market and you could be missing your perfect house if you want to start your search until a specific time of year. If you’re considering homeownership, you’re already ahead of the game by knowing about these 3 myths. Your next step should be to sit down with me. I’d love to go over the entire process with you and set you up for success. What questions can I answer?