Let’s be honest—every October, we expect ghosts, goblins, and creepy clowns to make an appearance. But do you know what really haunts folks this time of year? Real estate myths.

These spooky stories have been whispered through open houses, shared on social media, and passed along like a game of telephone—often by well-meaning friends or relatives. But just because something’s been said a thousand times doesn’t make it true.

So today, I’m grabbing the flashlight and leading you out of the haunted maze of misinformation. Let’s separate fact from fiction—so you can move forward with clarity and confidence in Brevard County's market.

👻 Myth #1: You need 20% down to buy a home

Truth: You don’t. And waiting because of this myth? That’s the real horror story.

In reality, the median down payment for first-time buyers in 2024 was just 9%, according to the National Association of REALTORS®. Depending on your loan type, you might qualify with even less.

Yes, putting down less than 20% usually means paying for private mortgage insurance (PMI)—but it might still get you into the right home sooner. Imagine walking into your new home this year, instead of sitting on the sidelines because of outdated info.

🍁 Myth #2: Fall is a bad time to sell

Truth: Fall is actually a strategic time to list—especially in Brevard.

Serious buyers don’t disappear just because the pumpkins come out. In fact, with fewer listings on the market, your home could stand out more. And let’s not forget how gorgeous Brevard homes look this time of year—hello golden light, breezy patios, and cozy curb appeal.

🔥 Myth #3: Price high and negotiate down

Truth: Overpricing your home can kill interest before you even get started.

In Brevard, homes that are priced right from the start tend to sell faster—and often for more. When a listing sits too long, buyers start to wonder what’s wrong. Pricing strategically helps you attract the strongest offers while keeping your momentum.

⏳ Myth #4: Wait until mortgage rates drop to 5%

Truth: Waiting for the “perfect rate” might cost you the perfect home.

Rates haven’t touched the 5s in years, and most experts don’t expect that to change anytime soon. Rather than trying to time the market, focus on what you can control: finding a home that fits your needs and budget today.

And remember—you can always refinance later if rates improve.

🧟 Myth #5: You can’t buy with bad credit

Truth: A lower credit score makes things trickier—but not impossible.

Most conventional loans require a score around 620, but FHA loans can go as low as 500 with a 10% down payment. I’ve helped plenty of buyers in Brevard County get into homes despite credit challenges. The key is knowing your options—and connecting early with a lender who can guide you.

🏚️ Myth #6: Online home values are just as good as an agent’s price

Truth: Algorithms can’t smell your fresh paint or feel your ocean breeze.

Online estimates might give you a ballpark, but they often miss key factors like upgrades, location-specific demand, or the feel of your neighborhood. In Brevard County, things like proximity to the river, rocket launch views, or school zones can all impact value—something a local expert will account for.

🏠 Myth #7: Renting is smarter than buying

Truth: Sometimes renting makes sense—but long-term, owning builds wealth.

The typical homeowner’s net worth is around $430,000 compared to less than $10,000 for renters. Even with today’s prices, owning in Brevard can help you build equity over time and create more stability in your future.

Think beyond monthly payments—think legacy.

💵 Myth #8: The lowest rate = the best deal

Truth: It’s not just the rate—it’s the total loan package.

Always check the APR (Annual Percentage Rate), which includes fees and points. A slightly higher rate with fewer fees may actually save you more over time. Ask your lender to walk you through the numbers before you choose.

🏚️ Myth #9: We’re heading for another 2008-style crash

Truth: Today’s market is nothing like 2008.

That crash was fueled by bad loans and weak lending practices. Now? Lending standards are stronger, and nearly half of U.S. homeowners are equity-rich. Here in Brevard, demand remains steady and inventory is still tight—which helps keep the market stable.

📄 Myth #10: Preapproval and prequalification are the same

Truth: One is a guess. The other is your golden ticket.

• Prequalification is a basic estimate based on what you tell a lender. No documents, no credit check.

• Preapproval is the real deal. It means your income, credit, and assets have been reviewed and verified.

In Brevard, many sellers expect buyers to come preapproved—especially in competitive areas like Viera, Merritt Island, or beachside neighborhoods.

What to bring:
✔️ Last 2 pay stubs
✔️ 2 years of W-2s or tax returns (if self-employed)
✔️ 2 months of bank statements
✔️ Photo ID
✔️ Details on any debts

💡 Pro tip: Some listings in the Space Coast area won’t even let you schedule a tour without preapproval or proof of funds. Starting early can give you a serious edge.

🎓 Myth #11: Student loans will ruin your chances

Truth: Having student loans doesn’t disqualify you—it’s just one part of the puzzle.

Your debt-to-income ratio matters more than the type of debt. Many Brevard buyers I’ve worked with have qualified with student loans in play. The key is understanding where you stand and working with a lender to craft a smart plan.

🎁 Bonus Myth: You don’t need an agent in a hot market

Truth: A great agent isn’t just helpful—they’re essential.

Even in a fast-paced market, your agent is your advocate, strategist, and safety net. From pricing to negotiations to navigating inspections, I’m here to help you avoid missteps and move forward with confidence.

Think of me as your guide through the haunted house—flashlight in hand, helping you dodge the scary stuff so you can reach your real estate goals without the jump scares.

Let’s Debunk the Myths Together

Real estate myths may make for dramatic headlines, but they don’t make for good decisions. If something you’ve heard is making you hesitate, I’m here to help you sort fact from fiction.

📲 Have a question about the market here in Brevard County?
Let’s chat. No pressure—just real answers.

Sources: HouseLogic, Notch Luxury Properties, NAR