Top Real Estate Myths 2023
Posted by Jolenta Averill on
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The world of real estate is constantly changing, which can make it daunting for new home buyers (and even experienced buyers) to fully understand and navigate. There have always been misconceptions about the home buying process. As the market evolves, so do the myths, and 2023 is no exception. Let's debunk some of the prevalent myths circulating this year.
Myth #1: You Must Pay a Down Payment of 20% or More
Historically, a 20% down payment was the gold standard for purchasing a home. However, this is no longer universally true. While putting down a significant down payment can potentially help you get a better mortgage rate or avoid private mortgage insurance (PMI), there are numerous loan programs available for those who can't afford a hefty…
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Madison Wisconsin racks up yet another "Best City" award this month, this time for Kiplinger's "Best Cities for Young Adults". With a population of just over a half a million people in the Madison metropolitan area and an unemployment rate of 4.9% (the national unemployment rate is 8.2%), Madison tops out the list of best cities to live in for young adults in part because of its relatively low cost-of-living index of 108.2 (the national average is 100) and average rent of $849 per month for a one bedroom apartment (the national average is $959). The median household income for Madison, WI currently stands at $58,775 (the national median household income is $43,024).
Today Inman News announced the results of its 10 U.S. hotspots for smallest house sizes. Included in its top ten list were six cities located in the Midwest, notably the great state of Wisconsin. The list was based on the median square footage of homes listed for sale on Realtor.com during the month of September 2011. Note: not all homes for sale are listed on Realtor.com.
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Realtor.com reported that the median size of homes for sale in Wisconsin was the 10th smallest in the country for the month of September 2011, at 1,669 square feet. Like the other top ten finishers (with the exception of our nation's capitol which only has two), Wisconsin's homes have a median of three bedrooms.
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In addition to Wisconsin, the other Midwestern states cited as…
Are you interested in selling your Madison WI home? If you are ready to make a move, you are likely planning to hire a Realtor to help you with the process. After all, Realtors are experts in the industry and, as such, should be able to help you sell your home more quickly and efficiently. Before you hire a Realtor, however, it is important to know more about how to choose your Realtor.