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There are many places to go to find real estate information, but how much of it can you really trust? Today, I want to explain four common misconceptions people have about selling:
1. Inventory is too high. This simply isn't true. In fact, right now, we have 4.7 percent fewer homes on the market than we did a year ago at this time. Fewer homes on the market means there's less competition for you!
2. You need an extremely high credit score to qualify. Many homeowners are hesitating to sell because they think their credit score is too low. In truth, the credit score thresholds are back to where they were before the recession.
3. Lending requirements are too strict. Over the last year, lending requirements have loosened up significantly, making it easier to qualify that it was years ago.
4. You're trapped in your mortgage. Many people think they can't afford to sell because they won't have enough money to pay off their mortgage and purchase a new home. The fact is, 32% of people grossly underestimate what their true equity is. Your home is probably worth more than you think!
1. Inventory is too high. This simply isn't true. In fact, right now, we have 4.7 percent fewer homes on the market than we did a year ago at this time. Fewer homes on the market means there's less competition for you!
2. You need an extremely high credit score to qualify. Many homeowners are hesitating to sell because they think their credit score is too low. In truth, the credit score thresholds are back to where they were before the recession.
3. Lending requirements are too strict. Over the last year, lending requirements have loosened up significantly, making it easier to qualify that it was years ago.
4. You're trapped in your mortgage. Many people think they can't afford to sell because they won't have enough money to pay off their mortgage and purchase a new home. The fact is, 32% of people grossly underestimate what their true equity is. Your home is probably worth more than you think!
If you have any questions about these misconceptions, or if you think you might be eligible to make your move after all, please don't hesitate to reach out to us. We would love to help you in any way possible!
