Price reductions don't save you money

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Издатель May 25, 2025

Price reductions don't save you money. I hear it all the time from buyers — the belief that the only way to win in this market is to wait for a price reduction. But here’s the truth: a price drop of $10K–$15K doesn’t always give you the savings you think it will. Why? Because that $10,000 price reduction will only save you about $60 per month but you could save $300-$500 per month with the right lender strategy today (like a buydown, closing cost credit, or no cost refinance incentive). According to Housingwire and Redfin, almost 50% of all home sales this year included a seller concession. When its a buyers market, it means its a good time to buy The the longer you wait, the more likely you are to get hit with: ➡️ A higher interest rate ➡️ More competition when rates do drop ➡️ Losing the house you actually loved Here's an example: I recently worked with a buyer who had been trying to lowball every offer since 2023. During the last two years, interest rates climbed and they kept saying they were going to wait for rates to come down and wait for the market to crash. After losing out on 5 offers in 2024, their realtor and I did a brainstorming session before writing the offer. The buyers wanted to offer at $900K on a $950K list price. I kindly told them that was a bad idea and that they should pay list price and ask for $20,000 in seller credits instead so that we could buy down the rate to 5%. I showed them that this would result a monthly payment $600 cheaper than if they got the home for $900K. They decided to listen, they paid 950,000 but still leveraged the current market conditions to save money every month. Now that you realize you can save hundreds more each month with the right strategy, realtor, and lender you can either keep throwing low offers out, maybe save a little ($50/month), and risk losing the home — or you can pay list price, listen to your lenders advice when they tell you to ask for seller credits, and then let them buy down your rate saving you hundreds every month. I recommend the latter. DM me if you want this solution! - #texasloanofficer #texashousingmarket #dfwhousingmarket #crosscountrymortgageloanofficer #crosscountrymortgage #texasrealtors #pricereduction #homebuyingtips #mortgagetips