Common real estate myths
Urban myths are nothing new. Wait one hour after you eat before swimming. Elvis is still alive. And don’t lick a flagpole in the winter. (Actually, don’t try that one!). These are fun to share, and some are good for getting kids to behave, but they aren’t true to life. What we’ve noticed is that the same goes for real estate. There are a lot of urban real estate myths out there. Most of which are false, but there are a few that have some truth to them too. So we gathered up a few to share for fun, and shared what you can ignore and what should be taken into account the next time you buy or sell a home.
Myth: Curb appeal can make or break a sale
Answer: True
First impressions really are important, even in real estate. The first impression that potential buyers have of your home can make or break a sale. How your home and landscaping present themselves from the first moment someone approaches can either be warm and inviting, or messy, unappealing and off-putting. For tips and ideas to boost your curb appeal check out the article “How to Boost Your Curb Appeal.”
Myth: Bold paint colors will scare away buyers
Answer: False
Bold isn’t always bad. In fact, if you whitewash your home too much, you risk creating a monotone effect that will hide interesting features and architectural highlights that would otherwise make your home stand out to potential buyers. The rule of thumb is to use bold colors in moderation, such as having a single feature wall in bold colors surrounded by complementary neutral walls.
Myth: Zillow can do most of what a Realtor can
Answer: False (not even close)
Zillow does not know all. In fact, Zestimates have been shown to be between 10 to 42% in error when estimating home values. Online valuations can never take the place of a professional market analysis combined with the experience and advice a local, experienced Realtor can provide.
Myth: To sell quickly, you must have all the latest upgrades
Answer: False (however…)
It’s true that things like stainless appliances and granite counters make a really great first impression. But many homes in the Anchorage and Eagle River area don’t have these features because they were built before these trends caught on. Adding them last-minute when you decide to sell your home can prove costly and you’re not guaranteed to get the full value of what you spent back in the final sale price. Be sure to consult with your Realtor for advice about upgrades, as they are most likely to know what buyers are looking for.
Myth: Holiday décor is a no-no when selling a home
Answer: False (to a point)
The rule of thumb here is moderation. If your decorations are tasteful, they will add to the home’s appeal. For Halloween, play up the harvest angle with pumpkins, Fall leaves, etc. Go light on the ghoul factor. If it’s Christmas, a tastefully decorated tree, fresh greenery on the mantle and a wreath on the front door are perfect. Overall most people like a festive atmosphere and will appreciate the welcoming touch.
Bottom Line: Most urban myths are silly and harmless, like the one about mixing Pop Rocks and soda and you might explode. But real estate urban myths can cause you to spend money you don’t need to and get easily overwhelmed when selling your home. Working with a real estate professional is the best way to be confident you’re taking the right steps for a successful experience.
