There hasn't been much concern around San Diego about the ibuyers because they have been cutting their teeth in the lower-priced and more homogenized housing markets, where valuations are easier. Hat tip to the reader who sent this in though - Offerpad did purchase a...
Everyone is getting into the home-buying business. First it was the well-funded disrupters like OpenDoor and Offerpad, and then Zillow, Redfin, Knock and others jumped in - which caused Coldwell Banker, Keller Williams to also announce their programs (plus Compass...
The ibuyer is the sexy new shiny object in the real estate game. While the idea of a quick and easy sale sounds great, the reality is already much different - and, as the market transitions, their quotes and repair costs should get more conservative (and home sellers...
Opendoor, the ibuyer who purchases your home for cash and closes escrow at your leisure (as long as you don't mind paying their 6% to 13% fees plus home repairs) has made a deal to acquire a discount brokerage: Opendoor announced Tuesday morning that it has...
The way to sell houses is turning into a jumbo bowl of jambalaya now, and this version toes the fiduciary-duty line by gathering investor offers, instead of making cash offers themselves. Reprinted with permission from the author Mike: A Keller Williams team in...
In the video below, a Las Vegas realtor compares an actual offer from Opendoor to what happened when he put the home on the open market. But it's the deceit that is note-worthy. The first number supplied by Opendoor was the average market time, which they said was 75...
Glenn Kelman of Redfin has been deceiving the public since the day they started the company, and he gets away with it because we don't have a watchdog department or any enforcement of truth-in-advertising. We live in a society where anybody can say anything and never...
Flipping homes for no profit, just to make money the fees? And VC money jumping at the chance to back him, in hopes of making billions before the market turns? Could they provide enough market support to avoid a downturn? Eric Wu is a house flipper, but unlike other...
This might be the greatest sucker play in the history of housing. The I-news featured a story about the first five Zillow buys in Phoenix, and as you can see above, they are planning to lose money on all of them. The reporter also interviewed one of the homeowners...
They paid $410,000 and are listing for $425,000? Are they expecting a bidding war? By the way, OpenDoor has 300 listings in Phoenix already! Hat tip to daytrip for sending this in - an excerpt: Noel Levine, a freelance IT consultant and self-described geek, said he...
