One of the hardest parts about buying or selling a home isn't necessarily the paperwork, the negotiations, or even the moving boxes.

Sometimes, it's letting go of what we think the market should look like.

Maybe your friend bought a home a few years ago for a price that seems impossible today. Maybe your neighbor sold their house the first weekend it was listed. Maybe you remember hearing stories about buyers competing against ten other offers or sellers naming their price and getting it.

Real estate markets change.

Home values change. Inventory changes. Buyer demand changes. The amount of competition changes. How long homes take to sell changes.

And when the market changes, our expectations have to change with it.

That applies to buyers and sellers.

Buyers: Yesterday's Budget Isn't Today's Budget

I completely understand how frustrating this one can be.

You might have a number in your head for what a "starter home" should cost. Maybe it's based on what homes sold for a few years ago, what your parents paid for their first house, or even what you remember seeing when you weren't quite ready to buy yet.

But the market doesn't price homes based on what they used to cost.

If you're shopping at a lower price point, that doesn't necessarily mean homeownership is impossible. But it may mean adjusting what you expect to find within that budget.

Maybe it's an older home instead of new construction. Maybe it's a townhouse instead of a detached home. Maybe you look a little farther outside your original search area. Maybe the kitchen isn't updated, the house is smaller than you pictured, or you trade acreage for affordability.

That isn't me telling you to settle.

It's about understanding what your budget realistically buys in the market you're shopping in.

Once we know that, we can decide what you're willing to compromise on and what you're not.

Sellers: Yesterday's Selling Experience Isn't Today's Either

Sellers can get caught in the same trap.

Maybe your neighbor listed their home and had three offers by the end of the weekend. Maybe someone you know sold above asking. Maybe you remember a market where buyers seemed willing to overlook almost anything just to get a house.

That doesn't mean your selling experience will look exactly the same.

A home taking longer to sell doesn't automatically mean something is wrong.

Different market conditions create different timelines. There may be more competition from other listings. Buyers may have more time to compare properties. Certain price points may move faster than others.

Market pace is one of the factors that changes as supply and buyer demand change, which is why a longer market time can mean something very different in one market than it did in another.

That's why context matters.

But "The Market Is Slower" Isn't an Excuse for Overpricing

This is the other side of the conversation.

If your home has been sitting without showings, isn't receiving offers, or buyers are consistently giving similar feedback, we shouldn't automatically shrug and say, "Well, homes just take longer to sell now."

We need to look at why.

How are comparable homes performing? What else can buyers purchase at your price point? Are we getting showings but no offers? Are we not getting showings at all? What feedback are buyers giving us?

Pricing, condition, competition, location, and presentation all matter.

A changing market might mean giving a well-positioned home more time. It doesn't mean ignoring what the market is telling us. Competitive pricing and the home's condition remain important parts of a seller's strategy regardless of whether conditions favor buyers or sellers.

Buyers Can't Shop With Yesterday's Prices. Sellers Can't Sell With Yesterday's Expectations.

And I think that's really what this comes down to.

It's incredibly easy to compare your experience to someone else's.

"My parents bought their first house for..."

"My coworker got the seller to..."

"My neighbor sold for..."

"My friend's house went under contract in two days..."

Those stories aren't useless. But without knowing the property, location, timing, condition, financing, competition, and overall market surrounding that transaction, they don't tell us what your experience should look like.

Your buying or selling strategy needs to be based on the market you're actually participating in.

Not someone else's.

Realistic Doesn't Mean Pessimistic

This might be the most important part.

When I tell a buyer that we may need to adjust their wish list, I'm not telling them their goal is impossible.

When I tell a seller that their home may take some time to sell, I'm not telling them something is wrong with their house.

And when the numbers don't quite work the way someone hoped, that doesn't necessarily mean we abandon the goal altogether.

Sometimes we adjust.

We expand the search area. We reconsider a feature. We change the timeline. We revisit the price. We improve the presentation. Or we decide that waiting actually makes the most sense.

Being realistic isn't about lowering your expectations. It's about making informed decisions with the information we have today.

Work With the Market You're In

There will always be another headline telling you what the housing market is doing.

But real estate is much more personal than a headline.

What matters is what's happening in your location, your price range, and your situation.

So whether you're thinking about buying or selling, don't build your expectations around what happened for someone else three years ago, six months ago, or even last week.

Make your decisions based on the market you're actually in, not the one you wish you were in.

Your goals may still be completely possible.

We might just need a different plan to get you there. 🤍

 

Amber Fleck | Realtor at HomeGrown Real Estate

amber.fleck@homegrownreva.com

540.273.6673