Chuck Barberini Real Estate

  Price cuts are turning up everywhere right now, and they read very differently depending on which side of the deal you’re on. Sellers tend to worry a cut means walking away with less than they hoped. Sometimes that’s true, but more often it just means the market moved faster than the listing did. Buyers, for their part, often assume a cut means something’s wrong with the house. Most of the time, that’s not it. This is what's actually driving all those price cuts, and why it matters no matter which side of the deal you're on. 42% of Homes for Sale Are Now Carrying a Price Cut According to HousingWire Data , the share of sellers cutting their asking price has climbed every month for 7 straight months ( see chart below ): Today, more than 4 in 10 active listings have had at least 1 price cut, and the typical seller is cutting about $17,560 off their original number.   Here’s why that’s happening. With rates still elevated and more homes to choose from, buyers can afford to wait...

  Check Out This Weeks Newsletter Redfin says sellers gave buyers a concession in 44.7% of August home sales, the highest share for that month since 2020. Sellers gave buyers a concession in 44.7% of home sales this August, according to Redfin. It’s the highest share the company has recorded for that month since it started tracking concessions in 2020, and it’s up from 42.6% a year earlier. Buyers have more room to negotiate than they’ve had in years. How much room depends heavily on where they’re shopping.  Sellers in some markets are covering closing costs and repairs left and right. In others, buyers still can’t get a concession no matter how they ask. We’re looking at what counts as a concession, why the national number keeps climbing, and where buyers have the most and least leverage right now.  Stay tuned for a script agents can use right now to raise concessions awareness with buyer clients, specifically in markets where the concession rate makes it a viable play....

  “Just Thinking" I have made a conscious effort, while writing my Just Thinking pieces, to steer clear of religion and politics. Both topics are important, but they also tend to generate strong opinions and passionate discussions. I'd rather focus on subjects that bring back memories, spark a smile, or give us something we can all relate to. Another rule I try to follow is avoiding the temptation to sound like a grumpy old man reminiscing about the "good old days." You know the routine: Back in my day, we walked to school uphill both ways, in the snow, without a jacket, you kids have it easy. But I had and experience the other day that is forcing me to play the OMC (Old Man Card). Stopping at a liquor store the other day, I picked up a Milky Way and a Diet Pepsi. Yes, I realize that ordering a Diet Pepsi with a candy bar is about as logical as going to McDonald's, ordering two Big Macs and a large order of fries, and then congratulating yourself for choosing a D...

Today’s housing market splits into four distinct types. You’ve got cash buyers, buyers financing a purchase, owners who feel locked into a low rate, and builders with homes to sell. Which type you’re in changes how you should buy or sell. Ryan Serhant, CEO of SERHANT agrees: “There is no longer a housing market . . . There are four Americas.” Here’s what each looks like, and what it means for you. Cash Buyers: 1 in 4 Buyers Are Paying with Cash If you already own a home, you may be able to buy your next place in cash thanks to your equity. In fact, 26% of existing home sales this summer were all-cash, according to the National Association of Realtors (NAR). That's roughly 1 in 4 buyers skipping a home loan entirely. Data from Realtor.com shows most are at the very top and very bottom of the market by price point ( see graph below ): For Buyers: If you’re able to buy in cash too, having no financing contingency means your offer is going to look really appealing to sellers. You ma...

The Federal Reserve raised rates for the first time since 2023 during the September FOMC meeting. Here’s what the latest Fed hike means for mortgage rates, housing and buyers. The Fed just raised rates for the first time since 2023 At its September 16 meeting, the Federal Reserve unanimously voted to hike its benchmark rate by 25 basis points, bringing the target range to 3.75%–4%. For housing, the timing matters. Mortgage rates were already moving higher heading into the meeting, with the average 30-year fixed now above 7%. And while a Fed hike doesn’t automatically push mortgage rates higher, the message from Chair Kevin Warsh was that inflation is still the problem the Fed is focused on solving. Here’s what the decision means for housing, mortgage rates and what comes next. What the Fed Said About the Rate Hike The Fed’s policy statement ran three short paragraphs, and the third was devoted entirely to inflation: “Inflation remains elevated. Today’s policy action will support a time...

“Just Thinking" I found myself thinking about football this week. The NFL has wrapped up Week One, college football is in full swing, and high school football has once again turned on the Friday night lights. One thing that cannot be denied is that, even though practices begin in the heat of summer, football has always been the first true sign that fall is on its way. These days, Halloween decorations and candy start appearing in stores before August is over, and the Spirit Halloween stores have popped up in a shopping center near you. Like it or not, the slow march toward the end of the year has begun, and it began with kick off of the Patriots vs Seahawks game last Wednesday night. From there, it’s a straight run into the fourth quarter of 2026, bringing with it Halloween, the end of Daylight-Saving Time, Thanksgiving, Christmas, and the welcoming in of the New Year. But before I launch into a full-blown rant about how quickly the year seems to be slipping away, I wanted to shar...