Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Real Estate

Zillow is now buying houses in Los Angeles

Zillow Offers launches in more California markets

Homeowners in Los Angeles have a new option when it comes to selling their house: Zillow.

The online real estate giant announced Monday that it is now buying and selling houses in Los Angeles and Orange County, California.

With this launch, Zillow Offers, the company’s program where it buys homes directly from homeowners, is available to homeowners across a large portion of Southern California.

The move is the latest in what’s been a busy year that’s seen the online real estate giant grow its direct homebuying and mortgage businesses by continuing to expand.

Now, Zillow Offers has launched in 21 markets across the country, with Los Angeles as its largest market yet.

(Image courtesy of Zillow. Click to enlarge.)

“In the 20 months since we first introduced Zillow Offers, we’ve seen that there is a strong appetite for another option when it comes to selling a home,” Zillow Brand President Jeremy Wacksman said. “We’re thrilled to launch Zillow Offers today in one of the largest markets in the country, and look forward to easing the friction and helping sellers move to the next stage of their life without the hassle and uncertainty of a traditional home sale.”

Through the Zillow Offers program, if the home qualifies, the owner will receive an initial cash offer from Zillow within 48 hours. A Los Angeles-based broker will also be assisting customers during their transaction.

If the homeowner accepts the offer, the seller gets to choose a date to move out, and not worry about cleaning or repairs. Zillow then makes the necessary repairs and/or improvements and sells the house back into the market. (For more on what, exactly, is an iBuyer, read this.)

According to Zillow, homes in Los Angeles take about a week or more to sell than they did over a year ago, and local home value appreciation has fallen flat. Zillow claims that its method amps it up and sells homes quicker.

Zillow says it has plans to expand offers to Cincinnati; Jacksonville, Florida; Oklahoma City and Tucson, Arizona by the middle of 2020.

Most Popular Articles

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy. HW+ Premium Content

Oct 25, 2021 By and

Latest Articles

HousingWire Annual Demo: Evocalize

Collaborative Marketing Platform Evocalize’s technology makes it simple for corporate teams and technology platforms to unlock the power of sophisticated digital marketing for loan officers, brokers and real estate agents. Enable loan officers and agents to drive leads and revenue with easily customizable, automated programs built on best practices and data. Product Fast Facts #1 […]

Oct 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please