Real Estate Questions You Will Hear at the Thanksgiving Table (and Straight Answers)

Between the turkey and the pie, someone always brings up real estate. An uncle wants to know what his house is worth. A cousin is wondering if she should wait for rates to drop. A friend of the family heard you need 20% down and gave up on the idea. With 31 years in real estate service, we have heard them all. Here are six of the most common questions, with honest answers you can share at the table.

1. "What is my house worth?"

Everyone has checked an online estimate, and they are a fine starting point. Just do not treat one as the final word. Zillow says its median error rate nationwide is 1.77% for homes that are on the market and 7.20% for homes that are not. Since most homeowners at your table are not listing, the larger number is the one that applies. On a $600,000 home, a 7.20% miss would be roughly $43,000 (our math, not Zillow's). The article quotes one appraiser calling the tools "fun" but not reliable, and Redfin's chief technology officer advises using multiple sources, including a human real estate agent, because an online model cannot see condition, updates, or a seller's circumstances.

Our tip: Ask for a comparative market analysis. It looks at recent nearby sales and reflects what the home is really like inside.

Source: Boston Globe, Real Estate section, article on online home value estimates, October 23, 2026, quoting Jonathan Miller of StreetMatrix and Bridget Frey of Redfin, with accuracy figures provided by Zillow (bostonglobe.com).

2. "Is now a good time to sell?"

The honest answer is "it depends on your home and your plans." Here is what the Northwest MLS October numbers show across its area: homes for sale are up 25.2% from a year ago, pending sales are down 17.8%, and the median sales price is $620,000, down 3.1%. In other words, buyers have more choices, so pricing and preparation matter more than ever. Windermere's chief economist has described this fall as a tough market for sellers facing plenty of competition.

Still, many people sell because of life, not the market. As First American's chief economist Sam Williamson put it, "Until mortgage rates ease, life moves will keep the housing market moving."

Our tip: If a job, a growing family, or a change in your needs is driving the decision, the right time is often when your life says so, with a smart pricing plan behind it.

Sources: Northwest Multiple Listing Service, Monthly Market Snapshot for October 2026, November 5, 2026 (nwmls.com); Windermere Real Estate, "Local Look: A Cooler Market for Fall," September 2026, Jeff Tucker (windermere.com); Real Estate News, "Higher than expected inflation boosts odds of bigger Fed hike," November 10, 2026 (realestatenews.com).

3. "Should I wait for rates to drop before I buy?"

Nobody knows where rates are headed, and that is the real answer. Freddie Mac's weekly average for the 30-year fixed rate was 7.18% on November 5, after three weeks of declines. After Tuesday's hotter-than-expected inflation report, Mortgage News Daily showed rates rising to about 7.3%, and markets see another Fed rate increase as very likely in December.

You may hear the saying "marry the house, date the rate." The idea is that you can renegotiate a mortgage rate later by refinancing, but you cannot renegotiate the price you paid for the home. A Creighton University professor quoted by CBS News said he would be more willing to buy a home that is priced attractively even when rates are high. But the same article includes a caution from a real estate CEO: buying in the hope of lower rates is poor planning if you cannot comfortably afford the payment today. A refinance is never guaranteed, and one economist notes a common rule of thumb is to refinance only when the new rate is at least 0.75% to 1% lower.

Our tip: Buy based on a payment you can afford today, and treat a lower rate later as a bonus, not the plan.

Sources: Associated Press, November 5, 2026, via WCAX (wcax.com); Real Estate News, November 10, 2026, citing Mortgage News Daily (realestatenews.com); Tim Maxwell, CBS News, article on buying a home now and refinancing later, July 17, 2023 (cbsnews.com).

4. "Don't you need 20% down to buy a home?"

This is one of the most common myths in real estate. NerdWallet's 2025 Home Buyer Report found that 62% of Americans believe a 20% down payment is required. In reality, according to National Association of Realtors figures cited by NerdWallet, the median down payment for first-time buyers is 9%, and 18% for all buyers. There are also low down payment options, including conventional loans with as little as 3% down for eligible buyers, FHA loans as low as 3.5%, and VA and USDA loans that can require nothing down. Down payment assistance programs can help with upfront costs too.

One tradeoff to know about: with less than 20% down, conventional lenders typically require private mortgage insurance, which is added to your monthly payment and can be removed once you reach 20% equity.

Our tip: Ask a lender which options fit your situation, and ask us about assistance programs available in our area.

Source: Rosie Cima, "20% Down? The Myth That Could Be Holding Home Buyers Back," NerdWallet, February 11, 2025, citing NerdWallet's 2025 Home Buyer Report and National Association of Realtors data (nerdwallet.com).

5. "Should we just keep the house and rent it out?"

It sounds simple, but it is a big decision. Redfin lists several things to weigh: local rental demand, ongoing costs like insurance, maintenance, and vacancies, the work of being a landlord (repairs, finding tenants, or paying a property manager), and whether the rent would actually cover your mortgage. It also asks whether you need the sale proceeds for your next down payment and whether you might move back someday. A low existing mortgage rate is one reason people choose to rent, since selling means giving that rate up.

A real estate CEO quoted by CBS News offers a related caution: existing homeowners should think twice about selling if today's rates are higher than their current mortgage, especially if they plan to buy another home.

Our tip: Run the numbers before deciding, and talk with a tax professional about how renting could affect your taxes.

Sources: Alison Bentley, Redfin, article on whether to sell or rent out your home, September 15, 2026 (redfin.com); CBS News, July 17, 2023, quoting Michael Gifford of Splitero (cbsnews.com).

6. "Isn't winter a terrible time to buy or sell?"

Not necessarily. Fewer buyers are shopping in winter, which means more room to negotiate for those who are, and less competition for sellers who list. The tradeoffs are that holiday travel can make showings and closings harder to schedule, and some sellers wait for the January rush. We cover both sides in our post, "Should You List Before Thanksgiving?"

Sources: Paul Owers, Homes.com News, November 29, 2024 (homes.com); Michael Catarevas, RISMedia, November 20, 2024 (rismedia.com).

The Quick Cheat Sheet (For When the Pie Is Getting Cold)

• Home value? Online estimates are a start. Ask for a comparative market analysis.
• Good time to sell? Price accurately, prepare well, and let your life plans guide timing.
• Wait for rates? Nobody knows. Buy what you can afford today.
• 20% down? Not required. Many buyers put down much less.
• Rent it out? Weigh the costs and the landlord workload first.
• Winter? Fewer buyers, but less competition too.

Have a Question We Did Not Cover?

If a real estate question comes up at your table and you do not have an answer, send it our way. We are happy to help you think it through, whether you are in King, Pierce, Thurston, or Snohomish County. Reach out for a no-pressure conversation any time. From our family to yours, Happy Thanksgiving!

This article is general information and not financial, tax, legal, or lending advice. Rates and market conditions change often, so confirm details with your lender, tax professional, and agent.

Sources: Boston Globe, Real Estate section, October 23, 2026 (bostonglobe.com); Northwest Multiple Listing Service, Monthly Market Snapshot for October 2026, November 5, 2026 (nwmls.com); Windermere Real Estate, "Local Look: A Cooler Market for Fall," September 2026, Jeff Tucker (windermere.com); Real Estate News, November 10, 2026 (realestatenews.com); Associated Press via WCAX, November 5, 2026 (wcax.com); CBS News, July 17, 2023 (cbsnews.com); NerdWallet, February 11, 2025 (nerdwallet.com); Redfin, September 15, 2026 (redfin.com); Homes.com News, November 29, 2024 (homes.com); RISMedia, November 20, 2024 (rismedia.com).