Spooky Real Estate Myths That Need to Die — Hernando & Pasco County Edition

Every October, haunted houses aren’t the only things scaring people.
Real estate myths have been creeping through social media and open houses for years—and some of them just won’t die.

Let’s put a few of these to rest. Below, I’m separating fact from fiction on some of the most common myths I hear right here in Hernando and Pasco Counties.

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

Truth: Nope! The real horror story is waiting too long because of bad info.
According to NAR, the median down payment for first-time buyers in 2024 was just 9%. Depending on your loan type, you could qualify with even less.
Just keep in mind, less than 20% down often means paying private mortgage insurance (PMI).

🍂 Myth #2: Fall is a bad time to list.

Truth: Serious buyers don’t hibernate!
Here in Brooksville, Land O’ Lakes, and Spring Hill, fall listings often shine because there’s less competition.
Cooler temps, golden light, and cozy curb appeal make it an ideal time to sell before the holidays.

💀 Myth #3: You should always price high and negotiate down.

Truth: Overpricing can kill your listing faster than your favorite horror movie villain.
Homes priced right from the start in Hernando and Pasco Counties tend to sell faster and attract stronger offers.

🕸️ Myth #4: You should wait until rates drop to 5%.

Truth: No one can time the market perfectly.
Waiting for the “perfect” rate might cost you the perfect home. Focus on what you can control—like locking in a payment that fits your lifestyle.

👻 Myth #5: You can’t buy a home with bad credit.

Truth: A lower score doesn’t mean a dead end.
FHA and VA programs have helped plenty of Hernando County buyers get into homes with credit scores in the 500s and 600s.
The key? The right lender and a little prep work.

🪞 Myth #6: Online home value estimates are as accurate as an agent.

Truth: Algorithms don’t walk through your home.
They can’t see your new kitchen, pool, or that peaceful Lake Padgett view.
In Pasco and Hernando, local agents use live market data and neighborhood knowledge to get it right.

🏠 Myth #7: Renting is smarter than buying.

Truth: Renting can make sense short-term—but it rarely builds wealth.
The typical homeowner’s net worth is around $430,000, compared to less than $10,000 for renters.
Even with today’s costs, owning in Brooksville, Spring Hill, or Land O’ Lakes builds stability and equity over time.

💵 Myth #8: The lowest rate is always the best deal.

Truth: The full picture matters.
The best loan includes rate and terms—fees, points, and flexibility.
Before locking in, compare the total cost, not just the number.

🏚️ Myth #9: We’re headed for another 2008 crash.

Truth: Today’s market is totally different.
Stricter lending, strong equity, and low foreclosure rates keep Hernando and Pasco stable.
Prices may adjust, but supply is still tight enough to hold value.

📄 Myth #10: Preapproval and prequalification are the same thing.

Truth: They’re very different.
Prequalification = rough estimate.
Preapproval = verified, lender-approved, and ready to go.
In our area, most sellers require a preapproval before showings—so start early.

What to bring:

• 2 pay stubs

• 2 W-2s or 2 years of tax returns (if self-employed)

• 2 months of bank statements

• Government ID

• Any debt info

Local pro tip: In Hernando Oaks or Wilderness Lake Preserve, some listings won’t even schedule a showing without proof of funds or preapproval.

🎓 Myth #11: Student loan debt disqualifies you from a mortgage.

Truth: It factors in, but it doesn’t disqualify you.
I’ve helped many buyers in Hernando and Pasco Counties get approved with student loans on their record.
The key is understanding how those payments affect your debt-to-income ratio—and planning ahead.

🧙‍♀️ Bonus Myth: You don’t need an agent in a hot market.

Truth: Even experienced buyers and sellers benefit from guidance.
Think of your agent (hi, that’s me 👋) as your compass and flashlight in a haunted corn maze—without the jump scares.

Real estate myths make great stories, but they don’t lead to great results.
If you’ve been holding back because of something you heard on social media or at a dinner party, it might be time to fact-check your fears.

✨ Want to know what’s really happening in Hernando & Pasco Counties?
Let’s talk about your options.
📞 Call or text me at 813-842-3077 — Stacy the Homegirl, your Sunshine State Real Estate Advisor.