In fact each week there are often as many price reductions as new listings.

But you’re asking the seller for a price reduction on their end to go towards your rate for the next 2 years.

Had that happen on my primary residence once because the mortgage company overestimated my tax bill by ignoring the reduction allowed by the homestead exemption, which would apply because this is your primary home.

We gave a 7k reduction to our excellent owner financed tenant due to declines in the market and the well collapsing after 4 years and my CPA did not ask for 1099C information on the tenant for that loss hhmmm.

Definitely agree with Jay on this one, the cost that you would incur to essentially do a refinance-rehab deal, or some kind of a stabilized bridge, you would be charged a few points and third party fees to change lenders and maybe save a point on the interest rate and add a couple of months extension would be a tough pill.

If this is of interest to you, I would suggest looking into furnishing it yourself and then turning it over to a STR Property Management company, you would be cutting out the middle man and essentially doing the same thing for (hopefully) more money.Whether you rent to someone arbitraging the property or utilize an STR property management company, you are “paying” the cost of a middleman; one way through an expense item and the other way through a reduction of income.  

@Alecia LovelessThanks Alesia.Splitting works best when I am here and personally vetting highly compatible tenants while absorbing small inconveniences, I can probably make splitting work if I am at least at a drivable distance although challenging.I have a strong feeling to sell if I am out of state but losing a very low mortgage interest rate and finding another house hacking cash cow in CA in this environment is also a tough pill to swallow.

Price reductions, increased DOM, reduced number of offers, reduced quality of offers, and my personal favorite metric: How much is my phone ringing?

As a real estate agent in the area of Boone/ Banner Elk/ Beech Mountain and many other towns in the area, I'm seeing listings staying on the market a little longer than before and each day I see a handful or more listings do price reductions.

Again I’m a simpleton factory worker but what I see in working class has been a huge reduction in wealth.