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☆ 10 metros where sellers are slashing listing prices the most
  + stars: | 2024-04-28 | by ( Alcynna Lloyd | ) www.businessinsider.com   time to read: +3 min
Sellers are reducing prices in cities with surplus housing inventory, according to Redfin data. As sellers lower prices and builders offer concessions, homebuyers are gaining more power. It means two things for prospective homebuyers: One, more sellers are likely to slash listing prices to attract buyers. To calculate which metros have the highest share of sellers reducing list prices, Redfin analyzed home price data from 85 US metros with populations of at least 750,000. Below are the 10 metros with the largest share of price drops in March, according to Redfin.
Persons: Sellers, Price, —, Eric Auciello, Auciello, Redfin Organizations: Service Locations: Florida, Texas
☆ Mortgage experts say interest rate buydowns can make all the difference for sellers worried about the real estate market
  + stars: | 2023-02-01 | by ( Kelly Burch | Read More | Read Less | ) www.businessinsider.com   time to read: +6 min
Buyers love interest rate buydowns because they come with reduced interest on their mortgage. That has led to an uptick in interest rate buydowns — money paid upfront to secure a lower interest rate. Jones saw interest rate buydowns increase last year, particularly in the second half of 2022. But interest rate buydowns can also be good for sellers even if buydown points come at a cost. To lower the interest rate permanently, each point costs 1% of the loan and usually lowers the interest rate by 0.25%.
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