MY BLOG

When your house doesn’t sell, it doesn’t just feel frustrating – it feels personal. You put time, money, and emotional energy into this move. You told your friends and family it was happening. And now that your listing has expired without a buyer? You’re left feeling stuck, and maybe even a little embarrassed.

And here’s what most agents won’t tell you. Over 70% of homeowners who re-list with a different agent sell their house.

Re-list with the same agent? That stat drops to only 50%, according to the latest data from REDX. That’s like leaving the fate of your sale to a coin toss. And that’s not good enough.

REDX data also shows that only 1 in 3 homeowners with expired listings actually make that change. That means most sellers either give up or repeat the same mistakes, so they get the same disappointing outcome. You deserve better.

Same house. Different strategy. Completely different results. 

Let’s break down what might’ve gone wrong – and how a fresh perspective can help you have a winning strategy this time.

1. It Was Priced Too High

Today, homebuyers are feeling the squeeze of higher mortgage rates, so even a slightly overpriced home will get overlooked. And once your listing starts to go stale, it’s hard to regain momentum.

Missing the mark on pricing is a costly mistake – and too many homeowners are doing that very thing right now.

What we need to do now: We need to analyze the latest sales in your area to make sure you’re hitting the right number. This includes taking a hard look at real-time buyer behavior, and any feedback you got from open houses or showings your first time around. Pricing at, or even just below, current market value is a winning play because it drives more buyers to your listing – and that amps up the competition for your home.

2. It Didn’t Show Well

You only get one shot at a first impression. If the listing photos didn’t pop, the house wasn’t staged well, or it wasn’t updated, most buyers will skip over it without ever scheduling a showing. And even if buyers did show up, small things like scuffed walls, outdated light fixtures, or a wobbly doorknob can turn them away.

What we need to do now: Let’s walk through your house with fresh eyes to see if there are any areas that may have been sticking points inside and out. Sometimes taking down old drapery, some light staging, or even a fresh coat of paint can completely change how a buyer feels about the home.

3. It Didn’t Get the Right Exposure

If your home didn’t sell, chances are it wasn’t getting the visibility it deserved. Generic flyers and a few online photos aren’t enough anymore. Today’s top agents are using highly targeted digital marketing, social media strategies, custom video content, and more to get your listing in front of the right buyers at the right time.

What we need to do now: We have to do more than just put your house online and hope it sells. Together, we can come up with a real plan to maximize its exposure. With the right pricing, staging, and marketing, your house will sell quickly. Here’s a real-world example (see graph below):

4. You Weren’t Willing To Negotiate

In this market, sellers who aren’t open to negotiating on things like closing costs, inspection repairs, or other concessions are often left behind. And if your last agent didn’t set that expectation with you, that’s a real shame.

What we need to do now: Be willing to meet buyers where they are. The goal is to get the deal done – and sometimes that means getting creative to help buyers cross the finish line. Home values have increased by over 55% over the last five years, so you likely have enough wiggle room to offer some perks without sacrificing your bottom line.

Bottom Line

If your house didn’t sell and your listing has expired, you don’t need to give up. You just need a better plan. And maybe, a better partner.

Over 70% of homeowners who switch agents sell their house the second time. That’s not a coincidence. That’s strategy.

If you’re ready for a proven approach, talk to a local agent so you know what to do differently – and why doing different things actually works. It’s time to get your move back on track.

Headlines are saying home prices are starting to dip in some markets. And if you’re beginning to second guess your plans based on what you’re hearing in the media, here’s what you need to know.

It’s true that a few metros are seeing slight price drops. But don’t let that overshadow this simple truth. Home values almost always go up over time (see graph below):

While everyone remembers what happened around the housing crash of 2008, that was the exception – not the rule. It hadn’t happened before, and hasn’t since. There were many market dynamics that were drastically different back then, too. From relaxed lending standards to a lack of homeowner equity, and even a large oversupply of homes, it was very different from where the national housing market is today. So, every headline about prices slowing down, normalizing, or even dipping doesn’t need to trigger fear that another big crash is coming.

Here’s something that explains why short-term dips usually aren’t a long-term deal-breaker.

What’s the Five-Year Rule?

In real estate, you might hear talk about the five-year rule. The idea is that if you plan to own your home for at least five years, short-term dips in prices usually don’t hurt you much. That’s because home values almost always go up in the long run. Even if prices drop a bit for a year or two, they tend to bounce back (and then some) over time.

Take it from Lance Lambert, Co-Founder of ResiClub:

“. . . there’s the ‘five-year rule of thumb’ in real estate—which suggests that most buyers can buffer themselves from mild short-term declines if they plan to own a property for at least that amount of time.”

What’s Happening in Today’s Market?

Here’s something else to put your mind at ease. Right now, most housing markets are still seeing home prices rise – just not as fast as they were a few years ago.

But in the major metros where prices are starting to cool off a little (the red bars in the graph below), the average drop is only about -2.9% since April 2024. That’s not a major decline like we saw back in 2008.

And when you look at the graph below, it’s clear that prices in most of those markets are up significantly compared to where they were five years ago (the blue bars). So, those homeowners are still ahead if they’ve been in their house for a few years or more (see graph below):

The Big Picture

Over the past 5 years, home prices have risen a staggering 55%, according to the Federal Housing Finance Agency (FHFA). So, a small short-term dip isn’t a significant loss. Even if your city is one where they’re down 2% or so, you’re still up far more than that.

And if you break those 5-year gains down even further, using data from the FHFA, you’ll see home values are up in every single state over the last five years (see map below):

That’s why it’s important not to stress too much about what’s happening this month, or even this year. If you’re in it for the long haul (and most homeowners are) your home is likely to grow in value over time.

Bottom Line

Yes, prices can shift in the short term. But history shows that home values almost always go up over five years. So, whether you’re thinking of buying or selling, remember the five-year rule, and take comfort in the long view.

When you think about where you want to be in five years, how does owning a home fit into that picture?

Connect with an agent to discuss how to get there.

Some Highlights

• Homeownership is one of the best ways to build wealth in our country and it’s easy to see why.
• As you pay down your mortgage and as home values rise over time, you gain equity – and that helps grow your net worth. That’s why a homeowner’s net worth is nearly 40X greater than a renters.
• But you should only buy a home when you’re ready and able to do it. If you want to build a plan to get there, connect with a local agent.​

A lot of buyers are pressing pause on their plans these days, holding out hope that mortgage rates will come down – maybe even back to the historic-low 3% from a few years ago. But here’s the thing: those rates were never meant to last. They were a short-term response to a very specific moment in time. And as the market finds its footing again, it’s time to reset expectations.

Back in 2020 and 2021, 3% mortgage rates gave buyers a serious boost: more affordability, more buying power, and more opportunity. But those rates were a result of emergency economic policies during the height of a global pandemic. Now that the economy is in a different place, we’re seeing mortgage rates in the high 6% to low 7% range.

And while experts currently project a slight easing in the months ahead, most industry leaders agree: rates are not going back to 3%.

Instead, many forecasts suggest mortgage rates will settle in the mid-6% range by the end of the year, pending any major economic shifts. As Kara Ng, Senior Economist at Zillow, says:

“While Zillow expects mortgage rates to end the year near mid-6%, barring any unforeseen shocks, that path might be bumpy.”

What Buyers Should Know

Basically, waiting for 3% rates might mean waiting longer than you’d expect – and missing out along the way. Instead of putting off homebuying indefinitely, make a plan to get there and focus on what you can control: your budget, your credit, and working with a trusted professional who can explain exactly what’s happening in the current market – and how to navigate it.

Your local real estate agent and a trusted lender make all the difference in this process. The experts have insights into down payment assistance programs, alternative financing options, negotiation strategies, and overall – the experience you need on your side to understand creative ways that will make your plans work.

And here’s the biggest thing to keep in mind. Since rates are projected to ease slightly later this year, if that happens, it could bring some more buyers back into the market. Acting now gives you a head start, especially with more homes on the market than we’ve seen in years.

Think about it: if mortgage rates do come down, what do you think everyone else is going to do? That’s right – they’ll jump back in too.

Getting ahead of that rush could put you in a stronger position to find the right home with less competition. Realtor.com sums it up well:

“Staying out of the market in hopes of a rate drop that never comes can lead to missed opportunities . . . Rising home prices, rent increases, and inflation might outpace any future savings on interest. And if rates do fall sharply again, buyers could face an entirely different challenge: surging competition.”

Bottom Line

Those 3% rates everyone remembers from a few years ago were the exception, not the rule.

Now that they’re settling into new territory, it’s a good time to adjust your expectations and learn more about where things are heading as this market shifts.

A local real estate agent and a trusted lender will be your best resources, always keeping you up-to-date and informed, so you can make sense of your options and build a game plan that works for you.

Do you think a brand-new home means a bigger price tag? Think again.

Right now, something unique is happening in the housing market. According to the Census and the National Association of Realtors (NAR), the median price of newly built homes is actually lower than the median price for existing homes (ones that have already been lived in):

You read that right. That brand new, never-been-lived-in house may cost less than the one built 20 years ago in a neighborhood just down the street. So, if you wrote off a new build because you assumed they’d be financially out of reach, here’s what you should know. You could be missing out on some of the best options in today’s housing market.

Why Are Newly Built Homes Less Expensive Right Now?

1. Builders Are Building Smaller Homes

Builders know that buyers are struggling with affordability today. So, instead of building big houses that may not sell, they’re building smaller ones that will. According to the Census, the average size of a newly built single-family home has dropped considerably over the past few years (see graph below):

And as size goes down, the price often does too. Smaller homes use fewer materials, which makes them less expensive to build. That helps builders keep prices lower so more people can afford them.

2. Builders Are Offering Price Cuts and Incentives

In May, according to the National Association of Home Builders (NAHB), 34% of builders lowered their prices, with an average price drop of 5%. That’s because they want to be sure they’re selling the inventory they have before they build more.

On top of that, 61% of builders also offered sales incentives – like helping with closing costs or buying down your mortgage rate. These are all ways builders are making their homes more affordable, so these homes sell in today’s market.

Your Next Step? Ask Your Agent What’s Available Near You

If you’re trying to buy a home right now, be sure to talk to your agent to find out what builders are doing in and around your area. They can find new home communities, as well as builders who are offering incentives or discounts, and hidden gems you might not uncover on your own.

Plus, buying a newly built home often means there are different steps in the process than if you purchase a home that’s been lived in before. That’s why it’s so important to have your own agent who can explain the fine print. You want a pro in your corner to advocate for you, negotiate on your behalf, and make sure your best interests come first.

Bottom Line

You could get a home that’s brand new, with modern features, at a price that’s even lower than some older homes. Talk with a local real estate agent about what you’re looking for and see if a newly built home is the right fit for you.

If buying a home is on your to-do list, what would stop you from exploring newly built options?