Every October, it’s not just haunted houses giving people chills—real estate rumors do, too. A lot of myths lurk in open houses and social feeds, and some refuse to die. Let’s shine a flashlight on the biggest ones so you can make decisions based on facts, not folklore.

Myth #1: You must have 20% down to buy.

Fact: Not required. Plenty of buyers purchase with less. In recent NAR data, typical down payments were well under 20% for many buyers—especially first-timers. Just remember: putting less than 20% down usually means PMI, which can be temporary.

Myth #2: Listing in the fall is a bad idea.

Fact: Serious buyers don’t go into hibernation. With fewer competing listings, a good fall launch can actually stand out. Bonus: autumn light and landscaping are ridiculously flattering. In [Your Market], October can be a quiet sweet spot before the holidays.

Myth #3: Price high so you have “room to negotiate.”

Fact: Overpricing drains momentum and invites low interest (and low offers). In [Your Market], homes priced correctly from day one tend to sell faster and cleaner. Aim for “compelling,” not “wishful.”

Myth #4: Wait until rates drop to 5%.

Fact: Timing the market is a ghost story. Rates haven’t lived in the 5s for years, and most pros don’t expect that without a major shock. Focus on affordability and a home that fits your long-term plans—you can always refinance if rates meaningfully improve.

Myth #5: Bad credit means you can’t buy.

Fact: Lower scores make it tougher—not impossible. Many conventional loans start around 620, and some FHA options allow lower with a larger down payment. I’ve helped [Your Market] buyers with imperfect credit find a path forward by choosing the right loan and timeline.

Myth #6: Online estimates are as good as an agent’s pricing.

Fact: Algorithms can’t see your upgrades, view, or maintenance. Use AVMs as a starting line, not the finish. Local agents price with real sales, condition, micro-location, and demand patterns. In [Your Market], things like [insert local factor—e.g., golf course frontage, school zone, or gate access] can swing value.

Myth #7: Renting is always smarter than buying.

Fact: It depends on your horizon. Renting can be strategic short-term. But over time, ownership has historically built wealth: homeowners’ net worth dwarfs that of renters. If you plan to stay in [Your Market] for a while, run the numbers—you might be closer than you think.

Myth #8: The lowest rate equals the best deal.

Fact: Look at APR and total costs, not just the shiny rate. Points and lender fees change the real price of the loan. Ask each lender for an apples-to-apples breakdown and what happens if you refinance or pay off early.

Myth #9: We’re headed for a 2008 repeat.

Fact: Today ≠ 2008. Lending standards are tighter, and many owners have strong equity positions. In [Your Market], prices have adjusted but haven’t collapsed, and inventory remains tight enough to support stability.

Myth #10: Prequalification and preapproval are the same.

Fact: They’re cousins, not twins.

• Prequalification: quick, based on info you provide—ballpark only.
• Preapproval: documents verified, credit pulled, automated underwriting—much stronger.
  In [Your Market], a solid preapproval can be the difference in a multiple-offer scenario.

What you’ll need: recent pay stubs, W-2s (or two years of returns if self-employed), two months of bank statements, ID, and debt details.
Timeline: With [Preferred Lender Name], preapproval typically takes [X–Y hours/days] once docs are in.
Pro tip ([Your Market]): Some listings require proof of funds or preapproval just to tour. Start early so you can act fast.

Myth #11: Student loans kill your mortgage chances.

Fact: Student debt is counted in your DTI like any other payment, but it doesn’t automatically disqualify you. A loan officer can show you how to structure payments (or use repayment plans) to qualify. Plenty of [Your Market] buyers purchase with student loans on the books.

Bonus Myth: You don’t need an agent in a hot market.

Fact: Guidance pays. From pricing and strategy to contract terms, inspections, and timelines, an experienced agent can save you time, stress, and money—think of us as your compass in the corn maze (minus the jump scares).

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Real estate myths make catchy headlines, but they rarely lead to great outcomes. If a rumor has been holding you back, let’s fact-check it together.

Curious what’s really happening in [Your Market]? Send me your top question—no pressure, just straight answers.