Home Prices Are Dropping: How to Find Great Deals in YOUR Market (Rookie Reply)

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 16 May 2025

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Home prices are seeing some serious cuts—but is this happening across all markets, and what does it mean for new investors? For many beginners, this could be the perfect time to buy a rental property, and in this episode, we’ll share what YOU can do to take advantage of a shifting housing market! Welcome to another Rookie Reply! Today, we’re back with more questions from the BiggerPockets Forums, and first, we’ll hear from an investor who has noticed sharp price cuts in major markets. Should all real estate investors jump at this window of opportunity, or is this a market-specific trend? Ashley and Tony will share their game plan for those looking to buy! Next, we’ll hear from an investor who owns two properties. The kicker? They can’t afford them! Should they sell or pivot to another investing strategy? We have a few creative ideas that could help them make money off their primary residence and get back in the green. Finally, what should you do with a bad property inspection report? Move forward with the deal or walk away? Stick around to find out! Looking to invest? Need answers? Ask your question here! In This Episode We Cover The markets where home prices are dropping (and what YOU should do) How rookie investors can find HUGE opportunity in a “buyer’s” market Three ways to make money off your primary residence (no rentals needed!) What to do when you can no longer afford your rental property Increasing your monthly cash flow with the rent-by-the-room strategy When to have the seller make repairs versus asking for concessions And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/rookie-562 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to another episode of Rookie Reply. Today, we're diving into the nitty-gritty of real
0:04.4	estate investing dilemmas that can keep you up at night. From weighing complicated property
0:10.1	decisions to what the heck it means when real estate prices start dropping to navigating
0:15.6	electrical issues that could literally burn your investment down. Today's questions highlight the real world challenges investors face when textbook strategies
0:25.1	meet the actual real world.
0:27.5	So we'll walk you through how to understand market dynamics when prices are dropping and
0:31.8	how to know when it's time to bail out on an investment.
0:39.4	Welcome to the Real Estate Rookie podcast. I'm Ashley Care.
0:43.0	And I'm Tony J. Robinson.
0:44.7	Okay. So today on Rookie Reply, our first question is from Ken in the Bigger Pockets
0:50.7	forums. His question is, what does it mean when your market sees price reductions?
0:56.1	Is it time to buy, time to sell, or time to hold? So he actually shared some data with us,
1:02.6	and it's a share of listings with price reductions. And Phoenix, Arizona has seen 32% of its listings with a decrease in price.
1:14.1	Then we have Tampa with 28%, Jackson, Florida, 27%, and the list goes on from there.
1:22.0	So, Tony, looking at this information, what are your initial thoughts of seeing price reductions? And maybe even
1:29.8	before that, have you seen significant price reductions in any of the markets that you're
1:35.4	investing in? First, I think the, you know, price reductions are very specific to certain markets,
1:42.0	right? Like, while we're seeing Phoenix with 32% of its listing,
1:45.5	seeing price reductions. Actually, I remember it was Buffalo, right? We were talking about this
1:49.3	on a podcast not too long ago where Buffalo was still seeing like strong pricing, right? You're
1:54.9	not seeing as many price reductions. It was a days on market, very short. It was a Rochester,
2:00.4	New York was like 13 days. And I think Buffalo was like 16 days on market, very short. It was Rochester, New York was like 13 days.
	...

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