Veteran Broker Curtis Knight Gives a quick paragraph of information for anyone who has ever considered going for their real estate license. Statistics show that 75% of all licensed real estate agents give up and get out within one year. 87% of all licensed real estate agents give up and get out within the first five years. It’s hard work but it’s very rewarding financially and emotionally 🙂
Homeowners across the U.S. are slashing home sale prices…
May 23, 2025|2025, Billerica Real Estate, Curtis Knight, Real Estate, Tips, Trends, Market
My take on the latest MSN Real Estate Report :
Frustrated homeowners across the U.S. are reluctantly slashing asking prices by tens of thousands of dollars as the real estate market shifts out of their favor. After years of soaring home values, today’s market tells a different story — buyers are cautious, mortgage rates are high and inventory is swelling.
According to a recent Redfin report, the median U.S. home seller is now asking for 9% more than what buyers are willing to pay. That amounts to a roughly $39,000 gap — a significant miss for those relying on their home sale to fund their next move.
The financial risks of delaying price cuts
Holding out for top dollar may sound appealing, but it can cost you in today’s market. Homes that linger on the market accrue thousands in carrying costs, from mortgage payments and property taxes to maintenance and insurance.
Take, for example, a $500,000 home with estimated monthly costs of $3,000. If it sits unsold for three extra months, that’s $9,000 in out-of-pocket expenses — not including price reductions or buyer concessions.
Benefits of a strategically priced home
Getting the price right from the start can lead to a faster sale, less stress and more money in your pocket.
Most buyer activity happens in the first two to three weeks of a listing. If a home is overpriced during that crucial window, it can quickly become a “stale listing.”
Buyers may assume something is wrong with it or use its time on the market to negotiate steep discounts.
A well-priced home, by contrast, can generate more interest, leading to faster offers and fewer concessions. It also keeps your timeline predictable which is an essential factor if you rely on the proceeds for a down payment or avoid bridge financing.
“The most important thing you can do as a seller is fairly price your home. If you overprice, chances are you’ll get no activity, and then it will become even harder to recoup your investment,” Redfin Premier Real Estate Agent Chaley McVay said in the report.
Call me with questions any time. – Curtis Knight Broker, REALTOR in MA, NH, FL. Cell/Text 978-590-5910 curtis@curtisknight.com
