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5 Real Estate Reality TV Myths Explained

5 Real Estate Reality TV Myths Explained | Simplifying The Market

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of “Love it or List it,” “Million Dollar Listing,” “House Hunters,” “Property Brothers,” and so many more all in one sitting.

When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and decide to purchase one of them.
Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes as a part of their search.  

Myth #2: The houses the buyers are touring are still for sale.
Truth: Everything is staged for TV. Many of the homes being shown are already sold and are off the market. 

Myth #3: The buyers haven’t made a purchase decision yet.
Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy. 

Myth #4: If you list your home for sale, it will ALWAYS sell at the open house.
Truth: Of course, this would be great! Open houses are important to guarantee the most exposure to buyers in your area but are only a PIECE of the overall marketing of your home. Keep in mind that many homes are sold during regular listing appointments as well. 

Myth #5: Homeowners decide to sell their homes after a 5-minute conversation.
Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives/goals.

Bottom Line

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!

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The Net Worth of a Homeowner is 44x Greater Than A Renter!

The Net Worth of a Homeowner is 44x Greater Than A Renter! | Simplifying The Market

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released.

The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why, for the fifth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.

Greater equity in your home gives you options

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process.

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The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • Interest rates are projected to increase steadily heading into 2019.
  • The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be.
  • Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home!
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Tammy Eden
Signature Real Estate Group
9525 Hillwood Dr., Suite 180
Las Vegas, NV 89134
Phone: 702-513-1300
Email: eden_str@yahoo.com

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Testimonials

Tammy went above and beyond to help us find a tenant for our townhouse in Henderson. We live out of state, so she was very accommodating and ensured everything was done in a timely manner. Tammy is very professional, but personable- we highly recommend her and will definitely do business with her again Local knowledge:5 Stars Process expertise:5 Stars Responsiveness5 Stars  Negotiation skills:5 Stars  10/21/2017 - halls27
Highly likely to recommend !!!  10/19/2017 - zuser20150824185309310 Sold a Single Family home in 2017 in Lone Mountain, Las Vegas, NV. Local knowledge: Excellent 5 Stars !  Process expertise: Excellent 5 Stars !  Responsiveness: Excellent 5 Stars !  Negotiation skills: Excellent 5 Stars !  Tammy was fantastic. My parents introduced us to her. We were so nervous and unsure of the selling process but, she made it safe simple, straightforward, and quick. Her techniques, such as a virtual tour and amazing pictures, got our house to sell in 5 days. We were able to get the highest amount for our home in our area and it even appraised that high. Her superior advice and knowledge of the Vegas area, really sealed the deal for us. She was also available at any time of the day to answer my questions. If she was with a client then I always got a quick response that she would return my call. I'd recommend her and we are using her for the purchase of our new home. zuser20150824185309310
Tammy has been very helpful and extremely professional . My wife and i have been looking for a house and Tammy made this experience very pleasant and convenient as she not only found us the perfect home for our family but she even helped us get a loan and has taking care of a moving company that took all our belongings and set them at our new home. I would recommend her to anyone that's looking for an host professional agent that understands her clients needs and can put together the entire package 03/16/2017 - zuser20140320173543807
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