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Category: Buying Myths

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If You’re a Buyer, Is Offering Asking Price Enough?

Written by Destin FL Mortgage Mortgage Syndicated User on . Posted in Buying Myths, Destin FL Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Destin FL, Move-Up Buyers.

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle. Things Are Different Today Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are: Receiving an average of  3.8 offers Selling in just 17 days Homes selling quickly...

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Two Reasons Why Waiting a Year To Buy Could Cost You

Written by Destin FL Mortgage Mortgage Syndicated User on . Posted in Buying Myths, Destin FL Mortgage, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Destin FL, Move-Up Buyers, Pricing.

If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home. To determine if you should buy now or wait, you need to ask yourself two simple questions: What will home prices be like in 2022? Where will mortgage rates be by the end of 2022? Let’s shed some light on the answers to both of these questions. What will home prices be like in 2022? Three major housing industry entities project continued home price appreciation for 2022....

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Is a 20% Down Payment Really Necessary To Purchase a Home?

Written by Destin FL Mortgage Mortgage Syndicated User on . Posted in Buying Myths, Demographics, Destin FL Mortgage, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Millennials, Mortgage Destin FL.

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it: “The most damaging down payment myth—since it stops the homebuying process before...

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