'Sellers Need To Wake Up—This Isn't 2021 Anymore,' A Real Estate Agent Says, Claiming Homes Are Sitting For Weeks After Price Cuts
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
The housing market has changed in some areas, but some sellers haven't caught on. "Sellers need to wake up and realize that this is not 2021 anymore. Layoffs are ramping up, wages are stagnant and rates are over 7%,' one Northern California real estate agent said on Reddit last week.
In the post, the agent said listings are sitting for weeks even after sellers lower prices. 'You are not going to get 10 offers in a matter of days for your house,' they added, pointing out that some homeowners still expect 2021-level demand and pricing.
Don't Miss:
Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets –
Hasbro, MGM, and Skechers trust this AI marketing firm —
Many commenters pointed out that the market is now heavily local. While parts of California and Texas are cooling down, others like Westchester, New York and Columbia, South Carolina are still seeing homes sell quickly. One person said, 'Houses in my neighborhood are flying off the market above list prices that are still higher than 2021.'
But in markets that are slowing, unrealistic pricing is a common theme. A San Diego agent shared that a client wanted to list at $1.4 million based on a nearby renovated home, even though hers needed $120,000 in updates to match it. "People are being very cautious with their purchases," the agent said. "It will sell at the right price point, but many people have incredibly unrealistic expectations of what their homes are worth.'
Trending: , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum.
Buyers, too, aren't playing along. One Redditor said they made a below-list offer that was rejected. A week later, the seller came back and accepted it. Another shared, 'We just completed option period 16% under list on a home, including some seller repairs before close.'
The frustration isn't limited to realtors or buyers. One commenter described a foreclosure that sat on the market for over a year at the same price as a new build. When the bank finally matched a buyer's earlier offer, the home still sat for months. 'Banks are dumb!' the commenter wrote.
New nationwide data backs up the on-the-ground anecdotes. According to the National Association of Realtors, sales of previously owned homes in April fell 0.5% from March to a seasonally adjusted annual rate of 4 million units—the slowest April pace since 2009. That was also 2% lower than April 2024 and well below the 2.7% gain economists expected.
Inventory is on the rise. The same report highlighted that the number of homes for sale rose 9% from March and was up nearly 21% compared to April 2024, hitting 1.45 million. That equates to a 4.4-month supply, the highest level in five years but still under the six-month mark that signals a balanced market.
Read Next:
Invest Where It Hurts — And Help Millions Heal:
With Point, you can Send To MSN: 0
This article 'Sellers Need To Wake Up—This Isn't 2021 Anymore,' A Real Estate Agent Says, Claiming Homes Are Sitting For Weeks After Price Cuts originally appeared on Benzinga.com
Error al recuperar los datos
Inicia sesión para acceder a tu cartera de valores
Error al recuperar los datos
Error al recuperar los datos
Error al recuperar los datos
Error al recuperar los datos
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
The tens of millions Knicks are eating by firing Tom Thibodeau
The post The tens of millions Knicks are eating by firing Tom Thibodeau appeared first on ClutchPoints. The New York Knicks will begin searching for a new head coach after deciding to fire Tom Thibodeau. Despite leading New York to four playoff appearances in five seasons, the franchise believes it's best to move on from Thibs. Even if the club is eating an insane amount of money in doing so. Advertisement Reports indicate that the Knicks will pay Thibodeau at least $30 million upon firing him, according to Ian Begley of SNYtv. The 67-year-old signed a three-year contract extension with New York that gave him roughly $30 million in guaranteed money. Thibodeau signed that deal in July 2024. 'Worth noting: Knicks owe Tom Thibodeau at least $30 million guaranteed on his recently signed extension, per sources. Also worth noting: NYK won a playoff series in 3 straight years under Thibodeau: from 2001 to 2020, they won just 1 series. He built a winning foundation here.' The decision comes after the Knicks suffered a 125-108 Game 6 loss to the Indiana Pacers that eliminated them in the Eastern Conference Finals. It was the deepest playoff run for New York since the 1999-2000 season. Despite that, general manager Leon Rose felt it was best to find a new head coach, as the organization continues its quest for a title. We could be in for an incredibly busy offseason for the Knicks. The decision to move on from Thibodeau was a bit of a surprise. However, since being eliminated from the playoffs, New York has been rumored to make big trades to build around point guard Jalen Brunson. Tom Thibodeau ends his tenure with the Knicks with a 226-174 career record. That's a solid record for any head coach, however, the organization might be looking at his career playoff record with the team, which sits at 24-23 in five seasons. An argument can be made that he's a very capable head coach for the regular season, but he falls apart come playoff time.
New York Times
an hour ago
- New York Times
Chargers OTA observations, Week 2: Zion Johnson at center, rookies on acclimation plan
EL SEGUNDO, Calif. — The Los Angeles Chargers kicked off their second week of organized team activities Tuesday at the team facility. They opened OTAs last week with a May 27 practice that was open to the media. Tuesday's practice was the second OTA open to the media. The Chargers are scheduled for two more OTAs this week: Wednesday and Thursday. Next week, Los Angeles will hold its minicamp, which is scheduled for three days, from June 10 to 12. It is scheduled for three more OTAs the following week. Minicamp is mandatory, and OTAs are voluntary. Advertisement Here are my notes, observations and takeaways from Tuesday's practice. 1. Once again, coach Jim Harbaugh produced encouraging attendance. Three players were not on the field for Tuesday's practice: left tackle Rashawn Slater, rookie receiver KeAndre Lambert-Smith and rookie defensive back Nikko Reed. The Chargers also had three players missing from last week's practice: Slater, edge rusher Bud Dupree and offensive lineman Trey Pipkins III. Dupree and Pipkins were on the field Tuesday. Slater is the only player who has not been on the field for both open OTAs. 2. June 10, the start of mandatory minicamp, is the date to monitor for Slater. The Chargers and Slater remain in contract extension negotiations. Slater is one of the elite tackles in football and is worthy of a top-of-market extension. A deal is still likely to get done before the start of the season. The stakes become more pressing closer to training camp — and certainly once training camp is underway. From the Chargers' standpoint, they need Slater on the field; having their star tackle miss any time in training camp would not be ideal. From Slater's standpoint, those training camp practices are essential to getting in shape and performing. Right now, the stakes are minimal. OTAs are voluntary. Players are free to continue training on their own. Whether Slater shows up to mandatory minicamp next week will be telling as far as where negotiations stand. According to the collective bargaining agreement, the Chargers would be eligible to fine Slater for any minicamp days he misses. 3. With Slater out, the Chargers set up with the following first-team offensive line during positional drills: LT Pipkins, LG Bradley Bozeman, C Zion Johnson, RG Mekhi Becton and RT Joe Alt. Pipkins did not participate in full team drills, and Jamaree Salyer replaced him at left tackle for those periods. The other four spots remained the same. Advertisement 4. Johnson, who started at left guard for the Chargers last season, has been working on his snapping this spring as he tries to make a transition to center. Tuesday marked the first day he worked at center during team drills for a practice open to the media. Bozeman was the Chargers' starting center last season, but he has experience playing left guard. He started at left guard for two full seasons for the Baltimore Ravens in 2019 and 2020. Greg Roman was Bozeman's offensive coordinator for both of those seasons. Roman is now the Chargers' offensive coordinator. Harbaugh said earlier this spring that Bozeman and Johnson will be rotating at left guard and center for the foreseeable future. Bozeman was at center during last week's open OTA. Johnson worked at left guard during positional drills but did not participate in team drills. The test for Johnson will come when the pads are on in training camp and he will be forced to deal with contact and play speed more closely aligned with game action. tre on the move — Los Angeles Chargers (@chargers) June 3, 2025 5. When asked Tuesday about rookies Tre Harris and Lambert-Smith, receivers coach Sanjay Lal said the Chargers are purposely 'bringing them along slowly.' 'They're behind physically,' Lal said. 'They've been on the banquet circuit.' Lal was referring to the many trips and visits of the pre-NFL Draft process. Harris was a second-round pick, and Lambert-Smith was a fifth-round pick. 'Their fitness is not like our other guys,' Lal said. As mentioned, Lambert-Smith was not on the field for Tuesday's practice. Harris has been working in periodically with the first-team offense, but it is still early. He will have to earn his spot. Harris caught one pass from quarterback Justin Herbert last week. He had another catch from Herbert on Tuesday, winning on a comeback route. Advertisement 'I have seen the skill sets that we drafted,' Lal said of the rookies. 'Those are showing up. Just got to get them more in shape.' 6. With the rookies on an acclimation plan, third-year receiver Quentin Johnston has been working consistently with the first-team offense. Johnston, who set career highs in catches (55), yards (711) and touchdowns (eight) last season, caught four passes from Herbert in last week's open OTA. Tuesday, he caught four more passes from Herbert. The highlight of the day for Johnston was a clean comeback route along the left sideline against rookie cornerback Trikweze Bridges. Johnston took advantage of a sizable cushion and drove suddenly out of his break. It was his best route of the day, and it led to a third-down conversion. Johnston will be in a heated battle come training camp. The Chargers are easing the rookies along. But by mid-July, they will be in better shape. And they — along with veteran Mike Williams — will be pushing Johnston for playing time on the outside. Johnston improved significantly last season in all phases, from his route deception to his releases. He still had untimely blips, none of them worse than a third-down drop against the Ravens in a late-November prime-time game. Lal said he has 'only one expectation' for Johnston this season: 'That he keeps ascending.' 'I can't put a ceiling on it,' Lal added. 'It is what it's going to be. He works hard. He's diligent. He's self-aware. So he's very much on the right track.' The Chargers also brought in three players this offseason — Williams, Harris and Lambert-Smith — who can play Johnston's position. Lal said he told Johnston, 'He's a starter, because he is.' Lal added that Johnson reacted to the receiver additions like 'water off a duck's back.' 'Just keep working,' Johnston said Tuesday. 'I feel like everybody still has to come and show up.' Advertisement 7. All these receivers will be complementary pieces to the Chargers' star: Ladd McConkey. And it seems McConkey and Herbert have picked up where they left off last season. McConkey had two third-down receptions in Tuesday's practice, including one on a smooth out route. McConkey set Chargers rookie records in receptions and receiving yards in 2024. McConkey said his primary goal this offseason was 'getting my body healthy.' He battled hip, shoulder and knee injuries last season. McConkey played 17 of a possible 18 games, including the postseason. He was inactive for a Week 14 game against the Kansas City Chiefs because of the knee and shoulder ailments. McConkey conceded he was 'banged up a little bit last year.' McConkey said part of his preparation for this season has been educating himself in the 'art to falling down.' McConkey is tough, and he is a weapon after the catch. But he is also smaller in stature. And he believes taking fewer hits will lead to more consistent durability. 'Obviously, there's times, like third downs, I got to do what I got to do to get the first down,' McConkey said. 'I'm always going to do that. But just being smart within the game.' Lal cut up clips of former New England Patriots receiver Julian Edelman and current Tennessee Titans receiver Tyler Lockett as teach tape for McConkey. Lal coached Lockett with the Seattle Seahawks. 'Julian Edelman does a great job of falling forward and getting some extra yards,' McConkey said. 'He would run through people, too, but he had an art. I've watched a cutup of him catching and puncturing in zone and just getting a couple extra yards by diving forward and just falling forward — not taking a direct hit but still getting those extra yards.' 'Julian would get vertical, dive forward and get a cheap 2 or 3 more yards,' Lal said. 'Tyler had great feel of when to go down. You blend that and put it into Ladd, that will accentuate his game.' Advertisement 8. The Chargers continued to rotate heavily at cornerback. Cam Hart did not participate in team drills for the second straight week. He said last week he expects to be back participating fully during minicamp. Donte Jackson, Tarheeb Still, Benjamin St-Juste and Ja'Sir Taylor all played on the outside in Tuesday's practice. Jackson had a pick off a deflection. Taylor had a pass breakup while covering receiver Derius Davis on a third down. Taylor read Davis' out route well and played with great leverage. 9. Davis got Taylor back later in practice on a crossing route, surging across the middle to create separation. Lal spoke highly of Davis, who has served primarily as a returner in his career. Davis has 4.3 speed. 'The more confident he gets, the more he'll use his speed,' Lal said. 'There's so much untapped speed there.' 10. Keep an eye out for undrafted rookie tight end Stevo Klotz. He caught five passes in Tuesday's team drills. There might not be a spot for him on the 53-man roster, but he feels like a lock for the practice squad, with the potential to make an impact as an elevation player during the season. Klotz is a solid blocker, which should show up when the pads come on next month. And he should also be a factor in special teams. Klotz was working on his long-snapping in the early stages of Tuesday's practice. (Photo of Zion Johnson working with Marcus Owens: Keith Birmingham / MediaNews Group / Pasadena Star-News via Getty Images)
Yahoo
an hour ago
- Yahoo
Kevin O'Leary Says, Forget The Classic Three-Bedroom, 2,500 Square Foot For $1.2M—Now You're Paying That For A Trailer Home In California
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Investor Kevin O'Leary, also known as 'Mr. Wonderful' from the TV show 'Shark Tank,' is speaking plainly about the state of housing in America. The entrepreneur and investor recently appeared on Fox Business and posted on X to share his unrestrained view on what's happening to real estate prices, especially in California, Texas and parts of Florida. 'There's three issues now,' O'Leary said. 'Obviously, mortgage is No. 1, it always has been in driving purchase [decision]. But there's two other things that have come out of nowhere, particularly in places like California. They are insurance and taxes.' Don't Miss: If there was a new fund backed by Jeff Bezos offering a ? With Point, you can He explained that when you add rising insurance premiums and high local taxes to already steep mortgage rates, housing affordability takes a major hit. 'Affordability is down about 40%,' he said. 'In other words, you've got to buy a house with 40% less square footage and pay the same amount on it.' For many, that means the days of buying a standard family home are over. O'Leary painted a stark picture: 'That means that classic three-bedroom, 2,500 square foot deal that you could pick up for $1.2 million, forget about it. You're living in a trailer home now for the same price it cost in California.' 'That's a big part of the market,' he added. 'Same issues in Texas, same issues in certain parts of Florida. I watch this like a hawk because I'm a big real estate investor. It's ground to a halt while these issues resolve.' Trending: Invest Where It Hurts — And Help Millions Heal: In California specifically, he blamed the growing insurance crisis. 'I mean, literally, if it isn't earthquake, it's flooding. Now you got fire. You get fried, drowned, and shaken there, and nobody wants to actually insure that.' O'Leary's concerns reflect a broader frustration shared by many potential homebuyers and investors. With insurance companies pulling out of high-risk states and taxes remaining high, affordability is dropping even further for average families. And it's not just housing where he sees major financial strain. O'Leary also didn't shy away from offering controversial advice on another issue: divorce. In a separate post on X, he argued that splitting up in your later years comes at too steep a price.'You're gonna give up a third of your net worth as you split these assets apart,' he said. 'Why don't you just live in separate bedrooms? It's a lot cheaper. Divorce is too expensive, and there's a better way, particularly if you're in your 50s and 60s.' His logic is that at that stage in life, big lifestyle changes aren't worth the financial fallout. 'You're not gonna have new kids unless you're nuts,' he said. 'Why don't you just live at separate ends of the house.' O'Leary's views may stir debate, but they underscore an obvious point: whether it's real estate or relationships, the financial pressures are forcing people to think differently about major life decisions. . With over $1 million in dividends paid out last quarter and a growing selection of properties across various markets, Arrived offers an attractive alternative for investors seeking to build a diversified real estate portfolio. In October 2024, Arrived sold The Centennial, achieving a total return of 34.7% (11.2% average annual returns) for investors. Arrived aims to continue delivering similar value across our portfolio through careful market selection, attentive property management, and thoughtful timing in sales. Looking for fractional real estate investment opportunities? The features the latest To MSN: 0 This article Kevin O'Leary Says, Forget The Classic Three-Bedroom, 2,500 Square Foot For $1.2M—Now You're Paying That For A Trailer Home In California originally appeared on
