There are many myths about the market, and these three stand out. 

Are you wondering what is happening in the real estate market? It’s certainly been an interesting couple of months, and there are many myths floating around about the state of the market right now. Today, we wanted to cover three of the most common myths surrounding real estate.

1. What year is it? Sellers seem to think that it’s 2021, and buyers think that it’s 2010. The reality is that while sellers can still get a good price for their homes, we are no longer in the crazy seller’s market that we had over the last few years. That doesn’t mean that buyers can get the crazy deals of a crashing market, either. The market isn’t crashing; it’s just normalizing closer to its pre-pandemic levels.

"There are many myths floating around about the state of the market right now."

2. Inspections are out the window. We’re seeing inspections come back into the market again after they had all but disappeared. Sellers need to be prepared for buyers to ask for inspections once more, and it might even be worth doing a pre-inspection.

3. Concede nothing. Along with inspections, sellers are being forced to make more concessions in their negotiations these days. With rising interest rates, many sellers are finding themselves paying a point or two to help buyers buy their rates down, and those that require leasebacks are once again paying for that privilege.

Those are three myths that you can consider busted in real estate. Overall, while the market has certainly shifted, it’s actually in a pretty balanced and healthy place. If you’d like to learn more myths about the market or if you’re considering buying or selling, reach out to us by phone call or email. We’d be happy to help you out.