As the real estate market continues to bounce back, many homebuyers are making the decision to step into the market. While the anxiety surrounding the downturn has left many buyers sitting on the sidelines, overcoming the remaining homebuyer myths and misconceptions is a very real challenge.
Between local news and the overwhelming availability of online information, determining what is fact and what is fiction can be very difficult.
I sat down with Karlton Utter, the Director of Learning Technologies and Solutions for Better Homes and Gardens® Real Estate to put three of the top homebuyer misconceptions about the real estate market to rest.
Homebuyer Myths vs Reality
1. Lending Restrictions
Rebekah: Many consumers worry that banks are not lending the way they used to and that tighter rules are keeping many buyers out of the market. Is this a myth or reality?
Karlton: This is a myth. Almost 5 million homes sold across the United States in 2012 and while not everyone needed a mortgage, the majority did. If buyers have an acceptable credit score, three lines of credit or more and a two year job history, chan…more