I just read this post by Ines Hegedus-Garcia from miamism.com where she summarized a piece that the Today Show just did on the 5 Biggest Real Estate Myths. This definitely applies to our Sunapee Region real estate marketplace and I’m sure it’s dead on for many other markets across our country.
1. Sellers are desperate
2. Don’t buy before prices have bottomed
3. You cant buy a home unless you have 20% down
4. Now’s the absolute worst time to sell
5. Before you refinance, shop around.
I think everyone can agree that making assumptions is never a good strategy to approach a big real estate purchase. The best thing you can do when considering buying a piece of Miami Real Estate is to contact a Realtor you know and start asking – a good Miami Realtor will explain market intricacies that may not be that obvious and will help you create a good plan.
Thanks Ines for a great summary of some spot on real estate myths!