Let’s talk about the elephant in the room. The most asked question for Realtors, and particularly now is, “How’s the market?”

The Sky is not falling.

Yes, interest rates are up. When Bob and I bought our house years ago, the interest rate was 9.5% and we felt lucky that they were under 10%.

Sure, it does slow the market for the interest rates to rise, but a more balanced market for buyers will allow those who have been trying and unable to buy, to be able to do so at last. For sellers, it will mean you may get offers and must negotiate a bit.

You may receive offers that require you to do repairs and/or have a contingency on financing or selling the buyers home or condominium.

Your home may stay on the market a little longer, but seriously, one to three days on the market is abnormal, although it has been the norm for a while. Historically, there were times where homes for sale were on the market for months, not days. This is more of what a balanced market looks like.

You might feel like you have missed the market. Conservatively, with 15% to 20% or more gains in market value in most cities each year in the last few years, you have done very well with your real estate.

Perspective is everything, isn’t it?

You are living in California. Unless you just bought it within the last month, you probably have made money on your home. If you purchased your home after the 2010-2011 crash, you have made money on your home. If you have owned it for many years, you have also made money on your home.

The prices in the places you will be moving to will be affected by the interest rates too, so you may sell a bit lower but also buy a bit lower. It’s all relative. Buying a home as a place to live and grow and have security is why you want to buy it. Speculators might get caught in this kind of market, but most folks want a place to call home. That is why they buy.

The market is just the market. Your Realtor’s job is to know how to navigate the market you are in.