Wednesday, April 6, 2016

Debunking Common Real Estate Myths on Chicago's North Shore

Whether you're thinking about buying a home on Chicago's North Shore this spring or selling your current property, you likely have a few reservations in the back of your mind or ideas about the real estate market that are holding you back. However, there are dozens of real estate myths floating around that are entirely untrue!

As your local real estate expert in Glencoe, Winnetka, Deerfield, Highland Park, Northbrook and the surrounding communities, I have sharing a few of those myths below and debunking them so you can feel free to take advantage of the excellent opportunities available for buyers and sellers this spring!

1. Myth: You Need 20 Percent Down to Buy A Home
Perhaps one of the most common real estate myths is regarding the down payment. No longer do you need 20 percent down to purchase a home! It is true that lending requirements have been strict in past years, but now you can even obtain a mortgage with as little as 3 percent down!

Do keep in mind there are other factors that will allow you to do so, like your credit score and verifiable income, but this common misconception should not keep you from purchasing a home on the North Shore this year!

2. Myth: You Don't Need A Real Estate Agent to Sell
Many homeowners on the North Shore are motivated to sell their own properties simply to avoid paying a real estate agent's commission, but that should not be all you consider in making that decision!

There are numerous parties involved in the sale of a home—from the inspector to the appraiser to the buyer and their agent—that you will be required to negotiate and correspond with throughout the process. You will also be responsible for the marketing strategy of your home! With an agent, you don't have to worry about any of the above! In fact, homes sold with a real estate agent sell for more money on average than those sold by the owner.

3. Myth: Spring Is the Only Time to Sell 
Spring is indeed the beginning of the busy real estate season, but it is not the only time to successfully sell your home. Summer and even winter can be equally as lucrative for North Shore homeowners! If you have questions about the best time to list in Glencoe, Winnetka, Deerfield, Highland Park, Northbrook and the surrounding communities, it is always best to consult your agent!

Do you have a question about the real estate market that isn't listed here? Do not hesitate to contact me! I am happy to walk you through the process of buying or selling a home on the North Shore this year!

Janie Bress
Your North Shore Real Estate Expert

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