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April Fool’s Day is all about jokes and pranks, but when it comes to real estate, falling for common myths can cost you thousands. Whether you’re buying or selling in the Twin Cities or Western Wisconsin, don’t let these misconceptions lead you astray!
1. “You Don’t Need an Agent – Just Use the Internet”
With so many online resources, it’s tempting to think you can buy or sell on your own. But real estate in the Twin Cities and Western Wisconsin is competitive, and having a local expert on your side can make all the difference. A great agent provides market insights, negotiation skills, and access to off-market properties that you won’t find online.
For a snapshot of market conditions, check out Minneapolis Area Realtors or St. Paul Area Association of Realtors.
2. “Spring Is the Only Time to Sell”
Spring is a hot season for real estate, but homes sell all year in this market. In fact, fall and winter listings in Minnesota and Wisconsin can attract serious buyers who are ready to move quickly—and with less competition, your home has a better chance of standing out.
A study by Minnesota Realtors shows that while spring and summer see more listings, homes listed in the winter often sell faster and closer to asking price due to lower inventory.
3. “You Have to Make a 20% Down Payment”
Many buyers in the Twin Cities and Western Wisconsin assume they need 20% down, but that’s not always true. There are loan programs that allow for 3-5% down, and some local first-time homebuyer programs can help even more.
Check out:
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Minnesota Housing for first-time homebuyer assistance.
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WHEDA for Wisconsin down payment programs.
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Dakota County CDA for specific Twin Cities metro assistance.
4. “Home Inspections Aren’t Necessary”
With multiple-offer situations becoming common, some buyers think skipping the inspection will make their offer more competitive. Big mistake! Minnesota and Wisconsin homes, especially older ones, can have hidden issues like foundation cracks, insulation gaps, or aging HVAC systems. Always get an inspection to avoid costly surprises later.
The Wisconsin Association of Home Inspectors and Minnesota Society of Housing Inspectors offer insights into what to expect in a home inspection.
5. “Pricing High Means More Money”
It’s easy to assume that pricing your home above market value gives you room to negotiate. However, buyers in the Twin Cities and Western Wisconsin are savvy, and an overpriced home can sit on the market longer than necessary. A well-priced home attracts more interest and can even spark a bidding war.
For the latest pricing trends, check NorthstarMLS for up-to-date market stats in the region.
Don’t Be Fooled—Get the Facts!
The real estate market is always evolving, and working with a local expert ensures you’re making the best decisions. If you’re thinking about buying or selling in the Twin Cities or Western Wisconsin, let’s chat—no tricks, just expert advice!
