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HomeRep was created for savvy homeowners, home buyers and investors who appreciate First Class, Red Carpet, V.I.P treatment from the best ‘Home Real Estate Professionals’ in the business.

Based on the famous adage “Home is where your heart is”, we embrace the passion to help our clients find “Real Estate Where Your Heart Is”.

We pride ourselves on our extraordinary reputation for service and look forward to helping you find your new South Florida Dream Home.

 


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Survey: 5 Homebuying Myths

SEATTLE – Oct. 31, 2011 – Overall, today’s homebuyers tend to be fairly knowledgeable about the real estate market, but there are still a few points of confusion in the process, especially for buyers just entering the market. Here are the five main areas of confusion found in a survey by Zillow:

• Appreciation: About 42 percent of homebuyers believe home values will appreciate by 7 percent a year. Reality: Historically, home values in a normal market appreciate by 2 to 5 percent in a year.

• Appraisals: 56 percent of the buyers said the purpose of the appraisal was to determine if a home was in good condition. Reality: That’s the purpose of a home inspection; an appraisal estimates fair market value.

• Homeowner’s insurance: 37 percent of homebuyers think that buying homeowner’s insurance is optional. Reality: Lenders require homebuyers to purchase homeowner’s insurance if they carry a mortgage.

• Ownership: 47 percent of homebuyers said a prospective buyer owns a home after the purchase contract is signed by the seller – when the two parties reach agreement. Reality: The purchase and sales agreement is the beginning of the closing phase, but it can be a long process until they finally take ownership.

• Mortgage insurance: 41 percent of buyers think they must purchase private mortgage insurance, regardless of the amount of their downpayment. Reality: Buyers only need to purchase PMI if their downpayment is less than 20 percent of the home’s purchase price.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=3&id=266849

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Get In Touch

  • HomeRep Inc.
  • Real Estate Where Your Heart Is.™
  • 7930 Parsons Pine Drive
  • Boynton Beach, FL 33437
  • O: (800)HOMEREP
  • O: (800)466-3737
  • F: (888)466-3737
  • E: Info@HomeRep.com