Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Real Estate

Zillow Offers announces expansion to Cincinnati

The company plans to expand to Jacksonville, Florida and Oklahoma City this year

Zillow Offers has expanded yet again, and launched in the Cincinnati market.

The Ohio market is the 24th market that Zillow Offers has branched out to, and the company says it still has plans to expand Jacksonville, Florida and Oklahoma City this year.

“Sellers across the country have shown that they’re looking for more certainty, control and convenience during one of the most stressful experiences they’ll go through,” said Zillow President Jeremy Wacksman. “We’re thrilled to introduce this type of service to the greater Cincinnati area and help sellers find a new, simpler way to sell their home and move on to the next chapter of their lives.”

Through the Zillow Offers program, if the home qualifies, the owner will receive an initial cash offer from Zillow within 48 hours. A Cincinnati-based broker will represent Zillow in the transactions. In addition, agents with an exclusive right-to-sell listing agreement can request offers from Zillow to present to their sellers. This enables agents to earn a commission while offering clients a streamlined selling process.

In this case, a Cincinnati-based broker will also be assisting customers during their transactions.

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.)

In 2019 alone, more than 6,500 homeowners sold their homes to Zillow, the company said.

By bringing Zillow Offers to Cincinnati, Zillow says it is expanding its local presence as an employer, with around a dozen new positions and plans to hire more in the future as Zillow Offers grows, the company said.

There are 160 employees currently based in the Cincinnati office, where dotloop, a Zillow Group brand, has been headquartered since 2009.

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