3 real estate myths busted by Birmingham experts

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While I’m not in the market for a home right now, I know a ton of people who are, and they all say the same thing: The real estate market in Birmingham looks a little different than it used to.

I hear things like “It’s best to buy a home in the summer,” or “I can’t afford a huge down payment,” all the time.

So I sat down with Trey and Caroline McMeans, Birmingham locals and the brains behind Homepoint, to bust these myths and hear some of their recommendations for buying and selling your home. They’ve got some modern tips and tricks—including an easier way to tour homes that has me reconsidering renting.

How Trey + Caroline save homebuyers and sellers money 

Founded by husband-and-wife duo Trey and Caroline, Homepoint is a real estate company combining agents and technology, making the home buying and selling process easier and more affordable.

One day, the couple was using a car transaction app and were impressed with how simple and stress-free the process was.

With Trey’s background in technology and Caroline’s in real estate, they knew they could make a similar process for selling a home.

Now, Homepoint’s platform revolutionizes the real estate market by making the transaction more transparent for you. 

Let’s dig into the truth behind some real estate myths:

Myth #1: I need to make a huge down payment.

Truth: Many buyers purchase a home with far less than the traditional 20% down. Some loan programs start as low as 3.5%. On top of that, with Homepoint’s flat fee, you can reduce closing costs and free up more cash for your down payment.

“Many buyers use gift funds or local down payment assistance programs to cover part or all of what is needed, making homeownership more attainable than most people think.

We recommend interviewing lenders, exploring their offerings and choosing one you trust to help you navigate the options.”

Trey and Caroline McMeans, Founders, Homepoint

Myth #2: The seller pays for the buyer’s agent commission.

Truth: Sellers typically agree to cover the buyer’s agent commission out of their net proceeds, but that does not mean your agent is free.

“The commission is factored into the terms of the sale, which means the buyer is effectively covering the cost whether through financing with interest or cash. It just is not itemized in a way most buyers see.”

Trey and Caroline McMeans, Founders, Homepoint

Why it’s important: As a buyer, you need to know exactly what your agent is charging and how that cost is handled in your deal. More buyers and sellers are choosing options like Homepoint’s $5,000 flat fee, which provides full service at a known price and creates room for flexibility and savings.

Myth #3: Certain times of year are better to buy a home.

Truth: Holidays, school schedules and weather may influence patterns in the market, but there is not necessarily a single “best” time to buy.

Trey and Caroline put it best: The right time is ultimately the one that aligns with your needs, goals and budget.

“Late fall and winter can offer lower prices and more negotiating power because fewer buyers are shopping, but inventory is limited. Spring and early summer bring the most homes for sale, but also higher competition and prices.

While seasonal trends are real, the best time to buy is whenever you find the right home at the right price for you.”

Trey and Caroline McMeans, Founders, Homepoint

Even through the ever-changing Birmingham housing market, you can rest assured that experts (like Trey and Caroline) are here to encourage you through the homebuying or selling process and give you the most bang for your buck.

Plus, Homepoint works all over the state of Alabama, so they can help you wherever you are looking! 

Learn more about a new way to real estate.

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