Every November in the Raleigh and greater Triangle market, myths about home-buying and selling don’t just disappear. They linger on social media, around open-houses and in coffee-shop conversations. Let’s shine a light on 11 of the most common real-estate myths in the Raleigh-Durham-Chapel Hill area and replace fear and confusion with clarity and action.

Myth #1: You need 20% down to buy a home in the Triangle

Truth: You absolutely do not need a full 20% down payment to buy a home. The bigger risk is waiting longer because you believed bad advice. Across the U.S., the median down payment for all homebuyers in 2024 was 18% and just 9% for first-time buyers.
Depending on your loan type, you may qualify with even less. Just know that buyers putting down under 20% often pay private mortgage insurance (PMI).
In the Triangle NC market, this means prospective buyers in Raleigh, Cary, Morrisville, Holly Springs and surrounding communities shouldn’t rule themselves out because they don’t have 20%.

Myth #2: Fall (or early winter) is a bad time to list your home in the Triangle

Truth: Serious buyers don’t go into hibernation just because leaves fall and winter approaches. In fact, listing your home in November (or early December) in the Triangle often means less competition, better visibility and a unique advantage of seasonal curb appeal.
Homes in the Raleigh-Durham area can attract strong attention before the holiday slowdown sets in. If you’re selling in Wake, Durham or Chatham counties, don’t buy into the myth that you must wait for spring.

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

Truth: Overpricing your home in the Triangle NC market can kill momentum faster than a bad plot twist. When you list above market value, you risk lingering, re-pricing and losing powerful buyer interest.
In our local area — whether Cary, Apex or Wake Forest — listings that are priced right from the start tend to sell faster and attract stronger offers. A trusted local agent will help you evaluate recent comps, neighborhood demand and seasonal trends to set a realistic price from day one.

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

Truth: Waiting for the “perfect” mortgage rate is a gamble, and the perfect rate might never show up. Rates haven’t dipped into the 5% range in quite a while, and most market observers don’t expect that unless something major shifts.
In the Triangle region, home-buyers and sellers should focus on what they can control: finding a home that fits their budget and long-term plans, rather than waiting for a rate to magically appear.

Myth #5: You can’t buy a home if you have bad credit

Truth: While a lower credit score does make things more challenging, it doesn’t make home-ownership impossible. Conventional loans often require a minimum score of around 620; some FHA loans go as low as 500 with a 10% down payment.
In the Raleigh-Durham-Chapel Hill area I’ve helped clients qualify with less-than-perfect credit once they explored options, cleaned up their application and worked with a local lender who understands our market.

Myth #6: Online home-value estimates and agent-priced valuations are equally accurate

Truth: Automated online estimates are helpful as a starting point, but they cannot see your home’s actual upgrades, view, neighborhood demand or condition.
In the Triangle NC market — whether you’re in Cary, Morrisville or Fuquay-Varina — a local agent brings real-time MLS data, firsthand neighborhood insight and pricing strategy. That’s what creates a stronger, more accurate listing-price or purchase offer.

Myth #7: Renting is always smarter than buying in the Triangle area

Truth: It depends on your personal situation. There’s no one-size-fits-all. Renting can absolutely make sense short-term: flexibility, fewer maintenance responsibilities and lower upfront cost.
On the other hand, buying in the Triangle remains one of the best long-term investments you can make. Homeowners typically enjoy far greater net worth compared to long-term renters. If you plan to stay a few years and build smart equity, home-ownership in this region can really pay off.

Myth #8: The lowest interest rate is automatically the best deal

Truth: It’s not just about the rate. It’s about the full set of loan terms. The annual percentage rate (APR) includes fees, points and other costs that affect your true cost of borrowing.
Before committing to a lender in the Triangle applied market, compare total loan costs, ask what happens if rates change, and ensure the deal truly fits your budget, long-term goals and local property values.

Myth #9: We’re headed for a repeat of the 2008 housing crash

Truth: The current market — especially in the Triangle — looks nothing like 2008. Back then looser underwriting and risky lending triggered a wave of foreclosures. Today the rules are tighter.
In our region including Wake, Durham and Orange counties, prices have adjusted but not collapsed, supply remains relatively tight and equity is strong. The conditions simply are different than the last crisis.

Myth #10: Pre-approval and pre-qualification are exactly the same

Truth: No, they are not the same.
Pre-qualification is typically an online or verbal estimate based on what you tell a lender. It gives you a ballpark price.
Pre-approval is real. It means the lender has verified your income, assets, debts and credit, pulled your file through automated underwriting and issued a firm letter.
In the Triangle NC market, serious sellers and experienced listing agents expect a pre-approval letter when you submit an offer, especially during multiple-offer situations. Preparing this early gives you a head-start.
Bring to your pre-approval appointment: recent pay stubs, W-2s or tax returns if self-employed, bank statements, government ID, and details of any debt.
Pro tip for Triangle NC: Some listings require proof of funds or proof of pre-approval before scheduling showings, so get ahead of it.

Myth #11: Student loan debt automatically prevents you from qualifying for a mortgage

Truth: Having student loans does not automatically disqualify you from buying a home. The loans factor into your overall debt-to-income ratio just like a car payment or credit-card balance.
In the Raleigh and triangle area I often work with buyers who carry student-loan debt yet still qualify for home-ownership once they understand how their payments affect their ratios and act early.

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

Truth: Even seasoned buyers and sellers benefit from professional guidance, especially in the Triangle NC market where neighborhood nuances matter.
From pricing strategy, negotiations, paperwork, timing and local market intelligence, a qualified agent is like your compass and flashlight in a complicated maze, without the jump-scares.

What to know if you’re ready to move forward

• Pre-qualification: quick online or verbal questionnaire, no verified docs, gives a rough number.

• Pre-approval: documents verified, credit pulled, stronger letter, clear budget and terms.

• When you’re working with a local lender, timeline for pre-approval in this region often takes a few days once docs are submitted.

• For the Triangle NC market: some listings require proof of funds or pre-approval before scheduling a showing, so start early.

Your next move

These real-estate myths may make great dinner-party stories, but they don’t lead to great results. If you’ve been holding back because of something you heard or saw on social media, it’s time to check the facts.

If you’d like to know what’s really happening in the Raleigh-Durham-Chapel Hill region, get ahead of the noise and explore your options. Whether you’re buying your first home, selling a property in Cary or upgrading in Holly Springs, I’m here to guide you.

Let’s talk about your goals and map out a plan. Since my focus is on building long-term relationships and helping families in the Triangle region reach their real-estate dreams, you’ll get honest insight, local expertise and a trusted advisor standing with you every step of the way.

Ready to cut through the noise and get a clear picture of the Triangle NC housing market? Contact me today for a no-pressure conversation about your options. Together we’ll ensure you’re working from fact, not fiction.

Thanks for reading!

Brandon Yopp