It seems that with every human downfall, we seem to become more aware of growing opportunities.  So although the US economy took an unpleasant dip a couple years back, self-made entrepreneurs and business-minded opportunists jumped on the losses in the real estate industry to create a turnaround of their own.  However, since these usually smart-minded individuals are not experts in their new area of business, assumptions are made and, as with most assumptions, TV and movie concepts of this market influence these new buyers and sellers’ perception of and participation in the market.

Think you’re interested in doing some real estate investing of your own?  Some of these assumptions are Real Estate Myths, so let’s Ghost bust some of these false ideas so you know what to look for and avoid.

Busted Myth #1: Spring is always the perfect season for new things.  FALSE.
                Many of the newbie, self-made real estate agents believe that Spring is the best time to sell a home since, in the past, most families moved during the summer (when kids were no longer in school) and therefore started looking early in the year.  While lots of homes still do sell during this assumptive season, it is no longer THE best time to sell a home nowadays.  When is, you ask?  Lean in closer, and I’ll tell you the little secret: DURING AND AFTER HOLIDAYS.  With a majority bachelor/bachelorette population, school schedules no longer drive the most home sales.  Instead, November, December, and January are showing the most sales stats.  This has been tricky on our self-sellers since they assume: people aren’t looking at this time, and once they realize that people are, they start selling with a vengeance after New Year’s Eve, when sales die down again.  So reader, be warned and take note!

Busted Myth #2: Negotiation is key so start as low as possible.  FALSE.
                We like to make sense and structure of everything; it’s human nature.  So naturally we try to fit everything into formulas, including how to make an offer on a home.  However, this is most likely to keep you right where you started- nowhere.  The market is moving fast and that means jumping in with both feet.  Houses are going quickly, sometimes within a day of the opening listing.  Working with a local, experienced real estate agent can help you become more aware of current buying trends within the housing market.  Remember folks, it never hurts to ask for help from people who know what they’re doing.

So to sum up: learn your market, be aware of the potholes that tear other amateurs down, be willing to ask for help, and DON’T MAKE ASSUMPTIONS.  Markets always change, so stay on your toes and be a savvy operator. 

Article citation: DeSimone, Brendon.  (March 31, 2013).  Don’t be fooled by these 3 real estate myths.  Zillow Blog.  Retrieved June 9,2013 from: http://www.zillowblog.com/2013-03-31/dont-be-fooled-by-these-3-real-estate-myths/.

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