Boston Property Management: Real Estate Misconceptions

Boston Property Management

Boston Property Management: Real Estate Misconceptions

There are a lot of misconceptions about real estate which stop people from going into the house-buying and selling game. The following is a list of all the misconceptions which stop people from pursuing their dreams.

The biggest misconception is that you don’t need a real estate agent to buy a home for you because information is available online. Just because the information is available online does not mean that you don’t need an agent. The agents have real time access to proper data. They understand the market better and will be able to advise you better. Unless you are a veteran in the real estate market, you won’t be able to decipher the data. A real estate agent is one who will be able to steer you in the right direction so that you make the right choices.

The other misconception is that you need around 20 percent down payment to buy a home. That isn’t true despite the fact that the lenders made it difficult to get a mortgage. This isn’t welcome news for people who are burdened with student loans and are unable to be homeowners. You can get a loan for at least three percent down though you need to have great credit, verifiable income and great assets to make your case stronger.

Boston Property Management: Appraisal

misconception is that the value of the home  is determined by the appraiser. However the value of a home is determined by the valeu decided by both the buyer and seller based upon the open market. Appraisals help one get a bank refinance. It should be known that the appraised value usually comes below the market value. External factors such as the view, neighborhood and fixtures also determine the appraisal value of the home.

Despite what everyone says, Spring is not the only good time to list a home. Not every buyer is a family as there can be people who don’t need to fit their schedules according to a school calendar. So just sell your home when the inventory is low and that is during the winter time. This is the best time to get a home for yourself.

Some may argue that open houses are not required to sell homes. It’s quite the contrary as they help people see the potential and make an informed choice. No one will buy the home if they don’t get an opportunity to see it for what it is.

We hope you liked our post “Boston Property Management: Real Estate Misconceptions”.

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