Seeing a $25,000 home price reduction can make a listing that was previously out of reach suddenly look like a bargain. But a lower asking price does not automatically mean you are getting a deal, nor does it prove something is wrong with the house. Price cuts have become common as sellers adjust to slower demand, increased inventory and buyers who have more negotiating power in many markets.
The real question is whether the seller originally priced too aggressively or is lowering the price because buyers keep discovering a costly problem. Before celebrating a home price reduction, dig into what caused it.
