Housing Wire

MARCH 19, 2021

A fury of iBuyer expansion hit the industry this week, with Redfin and Opendoor announcing new locations and Offerpad announcing Thursday it will go public. The company’s iBuyer platform is already available in Arizona, California, Colorado, Texas and Washington.

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Housing Wire

JUNE 25, 2021

Per a recent report from Redfin , the typical iBuyer-owned home found a buyer after 13 days on the market — the quickest pace since at least 2015, when Redfin began recording iBuyer data. The top quarter of iBuyer activity remains the third quarter of 2019 when, according to Redfin, 8,310 homes were bought via iBuyers.

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Housing Wire

APRIL 9, 2021

” He added: “We’re giving them 100% of the value creation so they make out better in the end, as opposed to an iBuyer program where it’s their business model to buy low and sell high and make the difference in between. . The post William Raveis ain’t no stinkin’ iBuyer appeared first on HousingWire.

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Inman

FEBRUARY 10, 2023

In his latest interview with Bloomberg, former Goldman Sachs investor Don Mullen explains why iBuyers won't survive much longer, calling them the "forced sellers" of today's market.

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Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. In comparison, at the end of 2022, the iBuyer had 12,788 homes on its balance sheet, representing $4.5

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The American Genius for Real Estate

JANUARY 7, 2022

The post Zillow hit with another lawsuit after iBuying collapse, claiming they misled investors appeared first on The American Genius Real Estate. (REAL ESTATE) Stockholders are suing, alleging that Zillow publicly praised the iBuying program despite knowing it was dying, and they claim to "suffer significant damages.".

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Realty Biz

DECEMBER 3, 2021

In the wake of its decision to shut down its iBuying business, Zillow has been slapped with multiple lawsuits alleging that it illegally misled investors as to the health of that business. 19 in the Seattle federal court on behalf of investor Steve Silverberg. They have every reason to complain. 10 and Nov.

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Housing Wire

MAY 4, 2022

Offerpad may lack the brand recognition and investor money possessed by home-flipping incumbent Opendoor , failed iBuyer Zillow , or of ramping-up iBuyer Redfin. Lukewarm investors aside, the company has consistently expanded its flipping business. Slow and steady might win the iBuying race. billion in revenue.

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Housing Wire

FEBRUARY 24, 2022

Opendoor’s losses came after iBuyer Offerpad announced it made $6 million in net income for 2021. Carrie Wheeler, Opendoor’s Chief Financial Officer, assured investors that the company has financing for “over $10 billion” in inventory. That exceeds Zillow’s $528 million loss for the year. The company tallied $8.0 Wu did not answer.

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Housing Wire

NOVEMBER 5, 2021

Founded in 2018 and headquartered in Sacramento, RedDoor calls itself a “digital first mortgage brokerage” that can preapprove a loan applicant “within 60 seconds,” likely what was appealing to the iBuyer. But some investors see add on services including mortgage as a possible way for iBuyers to eventually turn a profit.

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HomeLight

APRIL 15, 2022

They decide to look into “What is an iBuyer?” After some email back-and-forth, they get their final iBuyer offer: Offer details: 98% of what a real estate agent estimated they could earn, minus a 5% service fee, a $2,000 repair credit, and 1% in closing costs. . What is an iBuyer? What does iBuyer stand for?

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Housing Wire

SEPTEMBER 11, 2020

Palihapitiya’s special purpose acquisition company – better known as “SPAC” – raised $360 million in April and is “discussing raising fresh equity to help fund the transaction with prospective investors,” Bloomberg reported. Like other iBuyers, Opendoor has experienced a choppy 2020. The company, which has raised $1.3 Roughly $8.7

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Broke Agent Media

APRIL 26, 2023

BAM Key Details: A new Redfin report finds real estate investors lost money on about one of every seven (13.5%) U.S. A new Redfin report shows real estate investors losing money on close to one of every seven (13.5%) U.S. And while most of these investors still managed to reap gains on their properties, those gains have gotten smaller.

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RIS Media

MARCH 4, 2022

Regardless of how you feel about iBuyers, they’ve shown that the business model has legs in residential real estate. “It’s time to think differently about the iBuyers,” says Stefan Peterson, zavvie chief data officer and co-founder. . 24 earnings call.

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Real Trends

JUNE 22, 2022

The Arizona metropolis was ground zero for the housing bubble and the subsequent foreclosure crisis — after which institutional investors began gobbling up distressed properties there. One is the number of institutional investors, companies including Pretium Partners , Roofstock and Invitation Homes , which made up 7.5%

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Housing Wire

FEBRUARY 10, 2022

The ‘housing super app,’ according to investor slides filed with the Securities and Exchange Commission, will provide mortgage pre-approval, “immersive shopping,” facilitate in-person touring, and home financing. Zillow CEO Rich Barton. Suspense built as Zillow has kept a low profile since. On Thursday, we got an answer – A super app. “We

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Realty Biz

OCTOBER 21, 2021

Zillow isn’t the only company to have its operations constrained – last month, Lennar told investors on an earnings call that it’s unable to ramp up construction to meet demand due to labor and supply problems. Investors took news of the pause seriously, with Zillow’s stock falling 11.4% in the wake of the news.

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CT Homes

JANUARY 24, 2023

For homeowners looking to sell their property in a quick and streamlined manner, iBuyers have become an increasingly popular option. But what is an iBuyer? If they are a relatively new concept, with limited iBuyer reviews, are they actually a good option for homeowners looking to make a profit off their homes?

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Real Trends

AUGUST 1, 2022

After scooping up a record share of inventory in February 2022 (9.7%), investor activity cooled slightly this spring, as investors purchased 9.5% In April 2015, the investor share of home purchases was 4.8%. April’s dip in investor share growth is the first such decrease after 19 consecutive months of increase.

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Housing Wire

MAY 31, 2022

Another, though, is fading enthusiasm from investors and IPO underwriters that a company can upend the notoriously fragmented residential real estate industry. onset, Compass, a brokerage that billed its tech as providing real estate agents an edge, and Offerpad and Opendoor, iBuyers who are also registered brokerages, went public.

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RIS Media

FEBRUARY 11, 2022

10 investors call. Despite the critique and skepticism that followed Zillow’s decision to bow out of iBuying late last year, the real estate tech giant has come out on the other side better for it, reporting significant revenue growth thanks mainly to Zillow Offers. Related: Zillow Looking to Ease the Homebuyer Journey Post-iBuying.

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Housing Wire

NOVEMBER 10, 2021

Opendoor again announced major revenue growth in the third quarter as the iBuyer hit the gas on cash purchases and subsequent resale of homes. The iBuyer lists these homes on its balance sheet as a $6.4 The CEO spoke very broadly to investors and the public: “We’re in a generational shift in housing from offline to online.”.

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Real Trends

JANUARY 11, 2023

New Western, a marketplace for fix-and-flip residential properties, released a report that found investors remain confident going into the new year, despite challenges like low housing inventory and high mortgage rates that the housing market currently faces. The company conducted the investor survey in November 2022.

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Housing Wire

NOVEMBER 2, 2023

Redfin executives were happy to discuss commission lawsuits during their firm’s third-quarter 2023 earnings call with investors and analysts Thursday evening, just not the one their firm was recently named as a defendant in. This smaller net loss came despite a 12% annual decrease in revenue for the quarter, which came in at $296.0

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Mashvisor

MAY 23, 2022

Real estate investors might have certain apprehensions in dealing with iBuyer companies and for a good reason. Table of Contents What Is an iBuyer? How Does iBuying Work? The Pros…

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Housing Wire

NOVEMBER 5, 2021

Since the sustainability of this business has gotten so much attention this week, you may wonder if Redfin’s hopes to compete as an iBuyer depend on being smarter, luckier, grittier, or just more cautious,” Kelman said during the company’s third quarter earnings call on Thursday. “The I know being cautious is not always the right move.

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Housing Wire

JUNE 24, 2021

Led by venture capitalist firm Signal Fire as well as existing seed investors Y Combinator and DN Capital , Accept.inc said it plans to use the funding to scale its platform, double its team size and enter new markets. Mortgage startup Accept.inc announced Thursday it raised $90 million in debt and equity.

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RIS Media

NOVEMBER 15, 2020

Over the past few years, consumers have been reading headlines about iBuyers, investors or home flippers that offer a convenient way to sell your home without the headache of listing and then negotiating for the highest possible sale price. Articles suggest that iBuyers try to buy about 6 percent below market value.

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Housing Wire

NOVEMBER 30, 2021

A pair of lawsuits on behalf of Zillow investors cite this statement by Wacksman – and similar rosy claims in 2021 by Barton and Allen Parker, the company’s chief financial officer – as illegally misleading investors. 19 in Seattle federal court on behalf of Zillow investor Steve Silverberg. The second lawsuit was filed Nov.

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Housing Wire

MARCH 24, 2021

VC investor , and she has financed other L.A. The release noted “60,000 aspiring buyers” looking on the website in mainly upscale Southern California markets including Malibu and Palm Springs. Dana Settle of Greycroft and Sarra Zayani of Global Founders Capital led the fundraising round. Settle is a prominent L.A.

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Housing Wire

FEBRUARY 21, 2023

We’re just trying to move inventory quickly,” said Lee Kearney, a Tampa, Florida-based real estate investor who has an inventory of between 15 and 20 homes for sale at any given time. “If Especially cookie cutter neighborhoods where the iBuyers pulled out.” If it’s not moving, change the pricing so it does move.

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Housing Wire

JANUARY 11, 2022

Due to its size, Bay Equity is more efficient at originating mortgages and selling loans in the secondary market to investors, according to Redfin, which said that the acquired company had generated positive net income over the last three years.

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Housing Wire

MAY 20, 2022

Investment homes often take longer to sell because your audience is other investors. If your home is more of an investment home, investors often want a home already outfitted with tenants or an underpriced home, so there’s room in the pricing to cover the cost of renovations. Sell to Other Investors Using Roofstock Marketplace.

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HomeLight

NOVEMBER 10, 2021

Disclaimer: Information in this blog post is meant to be used for educational purposes only and provide a high level overview of some of the top iBuyer programs. Please visit the iBuyer’s website for the most up-to-date information on each individual program’s fees, market coverage, business model, and more. Working with iBuyers.

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GeekEstate

NOVEMBER 8, 2021

[Note from editor: We publish a Weekly Transmission for GEM members , a series of long-form articles covering the spectrum from shipping container co-living spaces to the battle for listing acquisition in the first iBuyer world war. Below is this month’s sample Transmission.]. NOVEMBER MONTHLY TRANSMISSION. BY DREW MEYERS.

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Housing Wire

JUNE 28, 2022

Also, certain investors felt no fear post-2020. The percentage of home flipping has grown since 2020, even beyond the housing bubble years, and we see some growth in total investor demand, however, as seen below, Institutional investors are still a small percentage of homebuyers. While people were talking about housing bubble 2.0

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Broke Agent Media

JUNE 1, 2023

BAM Key Details: A new report from Redfin shows an almost 50% annual drop in the number of investor home purchases in Q1 2023, outpacing the 40.7% That record annual drop is partly due to a near record high for investor purchases reached in Q1 2022. Meanwhile, the annual decline in investor purchases outpaced the 40.7%

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