10,418 Condo Sellers Cut Their Price. 34 Advertised a Buydown.

Mortgage rates went up for the fifth week in a row, and the 10-year Treasury is at its highest level since 2007. That part you've probably heard. Here's the part nobody is talking about. We pulled every active residential listing in Miami-Dade, Broward and Palm Beach County — about 36,800 properties. Narrow it to condominiums and there are 23,947 on the market in South Florida right now. 10,418 of them have already cut their price. Almost one in two. 34 of them are advertising a rate buydown. Thirty-four. Out of twenty-four thousand. CHAPTERS0:00 10,418 cut the price. Thirty-four didn't.0:36 Welcome0:59 "Ten days ago I told you the opposite"1:27 The 10-year is the highest it's been since 20072:17 What rates actually are this morning3:20 What 7% actually costs a buyer4:13 The part nobody mentions — buying power4:31 The tool almost nobody is using4:48 Bill explains the 2/1 buydown6:01 Why this one is back6:58 23,947 condos, and 10,418 already cut7:43 I checked it three times8:20 Aventura: 661 for sale, 290 already cut9:16 Same seller, a quarter of the money9:41 What the seller keeps10:17 Why the gap is that big11:18 So why isn't everybody doing this?11:56 The break ends in two years12:39 Not a trick to get somebody into a house13:37 Advertised, not agreed at closing14:23 What to do Monday15:40 Send it to us and we'll run it Craig Garcia and Bill Mei work through what that gap actually costs a seller, using one real submarket — Aventura, where 661 condos are for sale and 290 have already reduced the price. Same seller, same money, two completely different outcomes for the buyer. The reason comes down to where the money lands. A price cut gets spread thin across the entire life of the loan, and most of it goes to a buyer who has long since refinanced or sold. A temporary buydown concentrates all of it into the first two years — which is exactly when a buyer is deciding whether they can do this at all. Bill explains how a 2/1 buydown works start to finish, including who pays for it and how a seller can put in a flat dollar amount instead. We also give the honest version, because it matters: • The break ends. It's two years. In year three the buyer is at the note rate.• Buyers still have to qualify at the note rate. This is not a way to put somebody in a house they can't afford.• Our count of 34 is what sellers advertised in the MLS remarks — not what got agreed at a closing table. Plenty of sellers say yes without ever putting it in writing. But the 10,418 price cuts are measured the exact same way, and those are public. The gap is the story.• There are limits on how much a seller can contribute, and they change by loan program. The number has to be checked against the actual loan before anybody promises anything. LISTING AGENTS — if you have a seller about to take $30,000 off the price this week, pull the zip code first, or send it to us and we'll pull it in about a minute. We have the piece that puts both options in front of a seller on one page. BUYERS AND BUYER'S AGENTS — send us a specific property and we'll run the numbers. More at https://www.cp-mtg.com Capital Partners Mortgage ServicesNMLS #2332376 · Equal Housing OpportunityNMLS Consumer Access: www.nmlsconsumeraccess.org This episode is general information and market commentary, not a commitment to lend or an offer of credit. All loan approval is subject to underwriting and program eligibility. Any payment examples discussed are illustrations only and are principal and interest, excluding taxes, insurance and any mortgage insurance. A temporary buydown reduces the payment for a limited period; the note rate applies thereafter. Seller and other interested-party contributions are subject to program limits. Listing figures reflect what sellers advertised in MLS public remarks as of September 28, 2026, and not terms agreed at closing. Market conditions change daily.