Because Opendoor listed this home for $1,100,000 right after they bought it for $1,081,000 (and did no improvements), it must have meant that they thought they stole it. The market thought otherwise, and some might think they were lucky to get what they did. Their...
Mike pointed out that Zillow simply kept paying too much for homes, and instead of adjusting on purchase prices being offered, they shut it down yesterday. But Zillow is too big and too aggressive to rest. Here's what Mike thinks could be next: While Zillow 2.0 may...
The ibuyers are borrowing money like crazy to build their inventory of homes to flip. Opendoor doesn't have the brand-name awareness of Zillow, so they are advertising a lot and buying homes directly off the MLS. Zillow has everyone's email address so they are able...
The other big ibuyer has begun operations in San Diego County. How are they doing? The P is for pending sale, and the S is their first sold: Three of the homes aren't on the market yet, but let's look at 14 properties that are. They are happy to offer you a sales...
Spence has gotten involved with Offerpad, joining the other disrupters who lead with lies and insults about traditional realtors. He said, “The real competition for Offerpad isn’t Zillow or Opendoor, it’s the fact that 99.5% of the time people sell their home the old...
This is a good summary of the Zillow Offers homebuying machine. Like Amazon, they are hoping that consumers are willing to overpay for convenience: The website that allows you to imagine living in homes you could never afford is out to do to real estate sales what...
Hat tip to RK for sending in this article - an excerpt: I asked a realtor there that I know to do a CMA on the property. When she was done, her number came out to $460,000. Zillow’s offer was $440,000. This is where things got interesting. Their pitch is that with...
We ended up with 12 offers on my listing in Rancho Penasquitos, with SIX of them over $900,000. Donna and I did some expert maneuvering to coach the buyer-agents higher on price, and we may have gotten an assist from Zillow too. This was their zestimate before the...
It's conclusive - the Zillow Offers program is only good for sellers who want/need BOTH quick cash and...
The ibuyer's quote will be a curiosity, but unless it is close to the homeowner's expected value, then selling on the open market will seem like a better option for those who want max money. Would a homeowner who has found another house to buy be an exception? Rather...
