Urban Real Estate Myths

In the crazy world of real estate, everyone seems to have an opinion or pre-set idea on how it all works.  Mainly because someone is always talking about real estate wherever you go.  Good market, bad market, shopping lines at the store, friends and family sharing experiences and giving advice and of course, the well-meaning but often inaccurate media.  Here are few common urban myths that should help you get a better idea of the real estate market.

 "We can always come down"

Truth - A well priced home will sell quicker and closer to market value, than one that is priced too high in the beginning.  Buyers today have access to the internet and do their own research on your property before they even come to see it in most cases.

 

"My neighbor says that we are priced too low for the neighborhood"

 

Truth - Your neighbor has an emotional stake in what your home sells for as it will affect how much their home is worth.  Let the professionals research your asking price based on facts.

"I heard prices are way up"

Truth - Yes it is true that in some geographical areas that were hit especially hard.  In other areas that remained more stable, price increases are more gradual.  Don't listen to generic or national statistics. Speak to a professional Realtor to determine was is going on in your own local market.

"I heard there is no money for buyers. Is that true?"

Truth - No. There is more mortgage money available than ever before.  Certain reality checks have been put back in place as opposed to pre-recession like the buyer actually has to have a job!

"I'm selling my home "as is".  That's the way they are taking it.."as is"

Truth - Yes, you have the right to sell your property "as is" as long as you disclose anything you know that may be considered a factor in the buyer's decision to buy and the buyer accepts your disclosures.  However, if issues arise during a home inspection, the buyer has the right to re-open negotiations.

Give me a call if you have any questions regarding your property.  I always enjoy hearing from you! 

Nancy Puder is the owner/broker of Signature Properties, a prestigious real estate firm in Arroyo Grande, CA. If you have questions concerning your real estate needs, you may contact Nancy at Nancy@NancyPuder.com or (805)710-2415. She always enjoys hearing from you!