Category: Buying Myths

The Cost of NOT Paying PMI

Buying Myths, Down Payment, First Time Buyers, For BuyersChrysti Tovani
Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this limiting belief that often adds months, and sometimes even years, to the home-buying process. So, if you can purchase a home with less than a 20% down payment… why aren’t more people doing just that? One Possible Answer: Private Mortgage Insurance (PMI) Freddie Mac defines PMI as: “An insurance policy that protects the lender…

5 Real Estate Reality TV Myths Explained

Buying Myths, For Buyers, For Sellers, Selling MythsChrysti Tovani
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…

Home Buying Myths Slayed [INFOGRAPHIC]

Buying Myths, Down Payment, For Buyers, Infographics, Interest Rates, Move Up Buyers, Rent vs BuyChrysti Tovani
Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! Chrysti TovaniChrysti Tovani is a REALTOR® based in Fair Oaks, CA, serving the greater Sacramento area—including Orangevale, Carmichael, and nearby neighborhoods. She’s also a multimedia journalist and founder of I Love Fair Oaks, a local media platform spotlighting the people, places, and businesses that make Fair Oaks feel like home. With a background in real estate, mortgages, and marketing, Chrysti helps clients move…

Buying Is Now 26.3% Cheaper Than Renting in the US

Buying Myths, Featured Posts, First Time Buyers, For Buyers, Housing Market Updates, Move Up BuyersChrysti Tovani
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas. It’s no surprise, however, that those two metros are San Jose and San Francisco, CA, where median home prices have jumped to over $1 million dollars this year. Home values in San Jose have risen 29% in…

First-Time Home Buyers Continue to Put Down Less Than 6%!

Buying Myths, Down Payment, First Time Buyers, For Buyers, Keeping Current Matters, Rent vs BuyChrysti Tovani
According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers and 54% of all buyers put less than 20% down. Ralph McLaughlin, Chief Economist and Founder of Veritas Urbis Economics, recently shed light on why buyer demand has remained strong, “The fact that we now have four consecutive quarters where owner households increased while renters…

Top 5 Reasons You Shouldn’t FSBO

Buying Myths, For Sellers, FSBOs, Move Up BuyersChrysti Tovani
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers. Here are the top five reasons: 1. Exposure to Prospective Buyers According to the 2017 Profile of Home Buyers and Sellers from NAR, last year 95% of buyers search online for a home. That is in comparison to only 15% looking at print newspaper ads. Most real estate agents…

Getting Pre-Approved Should Always Be Your First Step

Buying Myths, First Time Buyers, For Buyers, Move Up BuyersChrysti Tovani
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval in the ‘My Home’…
Copyright © 2025  Chrysti Tovani | Fair Oaks REALTOR® & Sacramento Real Estate Expert | Community, Homes & Lifestyle - Powered by CosmosWP