Enticing discount mortgage rates have helped put Calgary's detached home market in rare form.

Now and then, Calgarians going for a morning walk in their community are stunned to discover that a house on their street has disappeared overnight.

No, the house wasn't whisked away by a tornado like in The Wizard of Oz – it's all part of a a way to "recycle" homes that ends up benefiting landowners in two locations.

It's the biggest investment we are ever likely to make, yet too often buying and selling a home comes with a bunch of misconceptions about making the most of that investment.

Len T. Wong, broker/owner of RE/MAX Len T. Wong and Associates, chalks these misconceptions up to a lack of information, rather than any fundamental misunderstandings about the buying and selling process. Providing that education to the client, he says, is the role of an experienced REALTOR®.

Here are the top five buying and selling misconceptions Wong has seen throughout his 25-year real estate career: