10/07/2026
🔮IT’S ALL HOCUS POCUS
Real Estate Myths, Debunked!!
MYTH: “I’ll call a Realtor when I’m actually ready to buy.”
DEBUNKED: Call me before you’re ready! Seriously. The preparation stage can be one of the most important parts. We can talk financing options, identify potential roadblocks, figure out what payment actually feels comfortable for you, and build a game plan. You don’t need keys in your hand next month to start asking questions today.
MYTH: “Zillow says I can afford $$$$$$, so that’s my budget.”
DEBUNKED: Zillow doesn’t know your life. 😂 An online calculator can’t fully account for your specific taxes, insurance, debts, loan program, interest rate or, most importantly, what monthly payment lets you still enjoy your life. And just because a lender says you can borrow a certain amount doesn’t necessarily mean you should. I want you comfortable in your home, not house-poor because we chased the biggest approval number.
MYTH: “I need 20% down to buy a house.”
DEBUNKED: Nope! Depending on your qualifications and loan program, conventional financing may allow as little as 3% down, FHA can be 3.5%, and qualified VA and USDA borrowers may have zero-down options. There may also be down-payment-assistance programs available. Before deciding you “can’t buy yet,” let’s find out what your actual options are.
MYTH: “The highest offer always wins.”
DEBUNKED: Not necessarily! A strong offer is about more than the number at the top. Financing, contingencies, requested concessions, earnest money, due-diligence terms, closing timeline and overall certainty can all matter to a seller. This is where strategy comes in. My job isn’t simply to tell you to offer more money it’s to help you put together the strongest offer possible while still protecting you.
MYTH: “I should just wait until interest rates drop.”
DEBUNKED: Maybe. Maybe not. Nobody gets tomorrow’s rate sheet today! If rates fall, buyer demand may change too. Home prices and inventory can change right along with them. Instead of trying to perfectly time the market, I’d rather ask: Does buying make financial and practical sense for your life right now? If the answer is no, we wait. If the answer is yes, we make a smart plan.
MYTH: “The house appraised, so that means it’s in good condition.”
DEBUNKED: An appraisal and a home inspection serve two very different purposes, and one does not replace the other.
An appraiser is primarily evaluating the home to determine its market value for the lender. Depending on the loan program, they may also flag certain safety, structural, or property-condition issues that must be repaired before the loan can move forward, but they are not performing a full home inspection.
A home inspector takes a much deeper look at the property’s major systems and components and may uncover issues that an appraisal simply wasn’t designed to identify.
A home can appraise at value and still have repairs, maintenance concerns, or costly problems hiding beneath the surface. Appraised value does not equal a clean bill of health for the home.
MYTH: “It’s new construction. I don’t need my own Realtor.”
DEBUNKED: New doesn’t mean you don’t need representation. The builder’s sales representative works for the builder. I work for you. I’m there to ask questions, help you understand the contract and incentives, watch deadlines, advocate for you when something doesn’t look right, and speak up when you need someone firmly in your corner. New house. Same rule: know who represents your interests.
MYTH: “My credit isn’t perfect, so homeownership is out of the question.”
DEBUNKED: Please don’t tell yourself “no” before someone qualified has even reviewed your situation. Lenders and loan programs can have different requirements and lender-specific overlays, so one lender saying “not yet” doesn’t automatically mean homeownership is off the table forever or that every lender will give the same answer. Sometimes we just need a plan. Improve this, pay down that, save a little more, revisit it in a few months. A “not yet” is not always a “no.”
MYTH: “I should put every dollar I’ve saved toward my down payment.”
DEBUNKED: Bigger isn’t automatically better. I don't want you getting the keys to your beautiful new house and having $14.37 left in your bank account. 😂 There can be closing costs, inspections, appraisal expenses, moving costs, repairs, furniture and, because houses apparently have a sense of humor, something unexpected eventually happens. Depending on the market and the individual property, we may also be able to negotiate seller concessions or other favorable terms. My goal is to help you buy the home without unnecessarily emptying your pockets to do it.
MYTH: “Once I’m preapproved, I’m stuck with that lender.”
DEBUNKED: Nope. A preapproval does not mean you’ve signed away your firstborn child to that lender. 😂 You can compare lenders, rates, fees and loan options before choosing who ultimately handles your mortgage. In fact, applying with more than one lender is in your best interest. I’ll help you understand the questions to ask so you’re comparing the whole loan, not just one shiny interest-rate number.
MYTH: “I’m probably not ready to buy, and I don’t want to waste a Realtor’s time.”
DEBUNKED: This one needs to disappear forever. You do not have to be ready to get ready. Some of my favorite buyer conversations happen months or even longer before we ever walk through a front door.
Ask me the questions. Tell me what scares you. Tell me what you don’t understand. Let’s figure out the financing, the timeline, the savings goal and what needs to happen between where you are today and where you want to be.
My job isn't just opening doors.
It’s educating you before we open them, protecting you once we do, and fighting for your best interests all the way to the closing table. 🏡🔑
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Verronica Smith, REALTOR®
314.532.4575
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Coldwell Banker | Kennon & Parker
706.256.1000
