Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. Consequently, 37% of homeowners say they want to move but are staying in their current home.

Backup offer 418

Backup offer Loan Officer Home sale contingency Branding 418

Housing Wire

MAY 7, 2021

Between April 2020 and the end of March this year, Opendoor , an iBuyer but also a residential brokerage, sold 1,613 homes listed on First Multiple Listings Service , the greater Atlanta region’s National Association of Realtors’ endorsed spot for home listings. Led by CEO Eric Wu , Opendoor is arguably normalizing iBuyers in real estate.

Brokerage 374

Brokerage Residential Agents Sales 374

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. . Once the home sells, the homeowner receives the full proceeds. .

Equity 410

Equity Brokerage Mortgages Title 410

Housing Wire

NOVEMBER 2, 2021

One thing that happened last year is that existing home sales never got back to 5,710,000 – 5,840,000. This was the level I had been talking about last year that should be the target due to how February 2020 sales were going. Exclusive access to the HW+ Slack community and virtual events. Become a member today. Already a member?

Sales 508

Sales As-is Marketing 508

Housing Wire

APRIL 24, 2024

Dallas, too, is outpacing the rest of the country in office count, sale-to-list price ratio and average price per square foot, according to CoreLogic data shared exclusively with HousingWire. That is similar to the iBuyer slowdowns in markets like Jacksonville as the industry segment struggles to gain a foothold.

Brokerage 365

Brokerage Marketing MLS Mortgages 365

Housing Wire

FEBRUARY 25, 2021

Zillow’s own estimated home value is to guide the company on a “limited subset of homes” in 20 markets. In response to a lawsuit over the accuracy of the Zestimate, Zillow in 2017 said the tool was within 5% of the sale price 53.9% Zillow Offers is currently in 25 markets. Presented by: Propertybase.

Loan Officer 397

Loan Officer Technology Brokerage Loans 397

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). “The bond market is forcing the Fed to pivot.”

Sales 458

Sales New Construction Staging Mortgages 458

Housing Wire

OCTOBER 9, 2020

Redfin’ s iBuying service RedfinNow has expanded into another new market since it resumed after pausing because of COVID-19. In a competitive real estate market like Sacramento, RedfinNow is also a great solution for our brokerage customers who need the cash from their current home to buy their next home.”

Brokerage 299

Brokerage Agents Sales Marketing 299

Housing Wire

SEPTEMBER 23, 2020

The iBuyers are quickly becoming all-in-one-buyers. Zillow-owned homes in Atlanta, Phoenix and Tucson will be listed for sale by Zillow Homes employees who are licensed real estate agents. The Zillow Homes solution will expand into more markets throughout 2021. Zillow said it will not be recruiting for these positions.

Brokerage 384

Brokerage MLS Title Agents 384

Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We billion net loss in 2022 due to the drastic housing market slowdown in the second half of the year, Opendoor greatly curtailed its spending and home acquisition speed in 2023. In comparison, at the end of 2022, the iBuyer had 12,788 homes on its balance sheet, representing $4.5

Investor 404

Investor As-is Marketing Mortgages 404

Housing Wire

FEBRUARY 21, 2023

High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year. 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

Marketing 384

Marketing Renovation Investor Sales 384

Housing Wire

JANUARY 6, 2021

Phoenix is the first market RedfinNow has launched in 2021, following the launch of San Francisco and Seattle early last month. RedfinNow is entering an already crowded market, joining the likes of Zillow , Opendoor and Keller Offers as well as bridge solutions like Knock Home Swap. with no appointment needed.

Marketing 444

Marketing Industrial As-is Closing 444

Real Trends

APRIL 7, 2023

Despite some iBuyers attempting to reinvent themselves, succeeding will be difficult unless they make fundamental changes to their model. One of the trends over the past several years has been iBuying, where companies called iBuyers offer sellers so-called instant offers to buy their homes. Some iBuyers had initial successes.

Sales 83

Sales Agents Marketing As-is 83

Housing Wire

NOVEMBER 29, 2021

Today, pending home sales came in as a big beat of estimates — up 7.5% From the National Association of Realtors : “The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 7.5% Home sales had a big gap from trending sales to where total sales closed in 2020.

Sales 530

Sales Investor Title Mortgages 530

Housing Wire

SEPTEMBER 9, 2020

Zillow launched its iBuying solution, Zillow Offers in its 25th market Wednesday morning: Homeowners in Jacksonville, Florida can now sell their home directly to Zillow. The last market Zillow Offers launched in was Cincinnati on March 2, right before the pandemic caused it to pause on March 23. “The

Marketing 418

Marketing Agents Sales As-is 418

Housing Wire

NOVEMBER 2, 2023

iBuyers led the way on reshaping the options available to sellers through direct, instant cash offers at scale. The highly competitive purchase market and bidding wars gave rise to power buyer models to help non cash buyers compete. We will need that type of mindset to tackle the current challenges in today’s housing market.

Purchase and sale agreement 396

Purchase and sale agreement Marketing Equity Finance 396

Housing Wire

NOVEMBER 18, 2022

Existing home sales last month declined 5.9% That’s the largest year over year existing home sales decrease since 2007. The impact is greater in expensive areas of the country and in markets that witnessed significant home price gains in recent years.”. month supply at the current sales pace, up from 3.1

Marketing 421

Marketing MLS Sales Mortgages 421

Real Trends

JANUARY 19, 2023

The housing market had record low inventory, record low average days on market, contingencies and showings were almost nonexistent, and many markets experienced all-cash bidding wars exceeding $100K over list price. In a market with these characteristics, instant cash offers become much more attractive.”

Renovation 92

Renovation Days on market Finance Technology 92

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?

Title 97

Title House Flipping Title search Sales 97

Realty Biz

JANUARY 15, 2021

iBuying companies are experiencing a slump in sales during a time when many thought the opposite might happen, as they provide a contactless way to sell a home. When the COVID-19 pandemic emerged last spring, most iBuyers, which buy and resell homes electronically, halted their businesses.

Marketing 80

Marketing Title Brokerage Sales 80

Notorious ROB

JUNE 14, 2022

Zillow released its Q1, 2022 iBuyer report a few days ago and well, it was kind of drowned out by the CPI print and the ensuing market collapse, including mortgages going over 6%. What’s the tipping point where iBuyer services become mainstream? What’s the tipping point where iBuyer services become mainstream?

Technology 88

Technology Marketing As-is Mortgages 88

Housing Wire

JUNE 28, 2022

This data line lags the current housing market as it’s a few months old. Since the summer of 2020, I have talked about how to cool down home sales: we need the 10-year yield to break over 1.94%. million total housing inventory data as that is the level of inventory that would change my thesis that this is a savagely unhealthy market.

Marketing 458

Marketing Investor Mortgages Sales 458

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 of the forecasted price.

Renovation 362

Renovation Brokerage Agents Mortgages 362

RIS Media

APRIL 18, 2022

The market changes all the time—as does the practice of selling real estate, especially in the age of technology. Yet in the seven or eight years since iBuying emerged, it has attracted reams of copy and tons of dialogue as an instant, hassle-free sales solution. So, what are the pros and what are the cons of the iBuyer strategy?

Title search 98

Title search Technology Branding Agents 98

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. ” Product Diversification.

Title 98

Title House Flipping Finance Industrial 98

RIS Media

FEBRUARY 17, 2022

Despite one of the most robust seller markets in real estate on record, with homes selling “faster than you ever thought possible,” iBuyers registered a breakout year in 2021, increasing business fivefold year-over-year according to a new report from zavvie. “Yet iBuyers had a breakout year,” he added.

Seller concession 98

Seller concession Loan contingency Mortgages Loans 98

Housing Wire

FEBRUARY 23, 2022

This gross revenue sum includes fees Offerpad charges consumers, plus money from home sales. Offerpad’s business is mostly based in Sunbelt markets. The company plans to expand into 29 markets, but analysts on the call questioned if consumers have heard of Offerpad in environs like Kansas City, Missouri and San Bernardino, California.

Branding 369

Branding Marketing As-is Sales 369

Housing Wire

JUNE 14, 2022

With mortgage rates now north of 6% and the stock market officially in bear territory, two of America’s most prominent real estate brokerages instituted large-scale layoffs and halted expansion efforts. We could be facing years, not months, of fewer home sales, and Redfin still plans to thrive. On Tuesday, the other shoe dropped.

Marketing 370

Marketing Brokerage Mortgages Title 370

Realty Biz

MARCH 14, 2021

residential real estate market has proved to be a real test for iBuying companies. Homeonwers can request an instant offer on their home and then sell it to the iBuyer immediately if they decide to accept it. The iBuyer will then renovate the home if necessary, and then try to sell it on at a profit.

Pre-approval 102

Pre-approval Home sale contingency Title Renovation 102

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.

Purchase and sale agreement 395

Purchase and sale agreement Loan Officer Brokerage Loans 395

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?

Design 81

Design Closing costs Closing Inspection 81

Housing Wire

DECEMBER 14, 2020

The iBuyer also said that homebuyers in Tucson, Arizona; Charlotte, North Carolina; Houston; San Antonio; and Austin, Texas, can tour and purchase any home on the market, via Opendoor. Opendoor is set to debut on the stock market on Dec. Opendoor can also conduct a virtual tour in any home.

VA loan 417

VA loan Finance Loans Technology 417

Realty Biz

NOVEMBER 24, 2020

Home sales might be up during the COVID-19 pandemic, but iBuying companies are still suffering from a lack of activity. Indeed, it’s looking likely that the market share of iBuying activity will be around 50% less than what it was in 2019, according to one analyst.

Sales 67

Sales MLS Industrial Marketing 67

Housing Wire

FEBRUARY 10, 2022

Barton also declared Zillow would be “cash flow positive” after completing the sales. The company’s silver lining is a division dubbed “Internet, marketing, and technology,” which generated $545 million in income before taxes and $1.9 home sales in 2021, Barton said, 4.1 Zillow CEO Rich Barton. Presently, Zillow reports $3.1

Pre-approval 397

Pre-approval Mortgages Agents Investor 397

Realty Biz

AUGUST 27, 2021

iBuyers can help buyers by making cash-backed offers on their behalf or by providing financing to help draw attention to their offer in a bidding war, experts say. The National Association of Realtors reported that iBuyers are the main reason why an increasing number of buyers are able to bring cash to closing.

Finance 102

Finance Closing Mortgages Sales 102

RIS Media

FEBRUARY 18, 2022

In the report, Redfin highlighted its market share of 1.15% of existing U.S. home sales by value, an increase of 11 basis points over Q4 2020, as well as the expansion of its iBuying service, RedfinNow, to a total of 30 markets. And we just have a ton of demand,” Kelman emphasized.

Title 98

Title Equity Mortgages Loans 98

HomeLight

JANUARY 3, 2022

Whether you should use an iBuyer (instant buyer) vs. real estate agent to sell your home is a hot debate in some real estate circles. iBuyer vs. real estate agent summary. Selling to an iBuyer. iBuyers introduced a new way to sell a home starting in the mid-2010s. When agents and iBuyers work together.

Agents 103

Agents Title Inspection Title search 103