Editor’s note: This is a transcript of the audio file.

No one really knows when the housing market will level out, so homebuyers are shying away from potentially overvalued homes.

In real estate, people just want the best deal they can get — and maybe a few extras. I’m Janet Stauble with your Personal Finance Minute.

Buyers expect rock-bottom prices, but there are no steals out there.

Bargain hunters say they want a fixer-upper – until they see one. So sellers, forget offering a paint or carpet allowance. Do the cosmetic work before putting your home on the market.

Location in real estate is more important than ever. Buyers are evaluating the Walk Score of a property, or its proximity to shops, restaurants and transportation.

Fortunately, the days of going after the biggest, best house buyers can or can’t afford are over. Buying a home used to be all about size and luxury, but now it’s all about finding a functional home.

Buyers are being more cautious and conservative. The most important thing to them is the stability of the neighborhood they’ll be living in.

Want to learn more? Log onto Bankrate.com. I’m Janet Stauble.