How Fannie Mae is leveraging technology to expand access to homeownership

Fannie Mae is taking important steps to help the mortgage industry close the racial housing gap, achieve equality within the housing industry and offer sustainable and affordable housing.

What is the next step for NAR?

In this Q&A, Senior Real Estate Reporter Matthew Blake gives us the inside scoop on what happened at NAR’s annual conference, including the latest on the DOJ investigation.

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

What’s next for the maligned real estate appraiser?

In this episode of Houses in Motion, a series that is part of the HousingWire Daily podcast lineup, St. Petersburg, Florida-based appraiser Francois “Frank” Gregoire discusses issues in the appraisal industry.

Real Estate

Zillow Offers launches in first new market since early March

Jacksonville is now the iBuyer's 25th market

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.

In early March, Zillow said it had plans to expand in Jacksonville and Oklahoma City this year. It looks like despite the pandemic, it’s still on track.

The last market Zillow Offers launched in was Cincinnati on March 2, right before the pandemic caused it to pause on March 23.

“The coronavirus pandemic has caused many people to rethink their priorities for a home – a phenomenon we call ‘The Great Reshuffling,’” said Zillow President Jeremy Wacksman in a statement. “Florida is an important market for us, with Jacksonville being the first new market we’ve expanded Zillow Offers to since March.”

Through the Zillow Offers program, if the home qualifies, the owner will receive an initial cash offer from Zillow within 48 hours. A Jacksonville-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.

If the homeowner accepts the offer, the seller gets to choose a date to move out. Zillow then makes the necessary repairs and/or improvements and sells the house back into the market.

In March, Zillow paused all iBuying, citing the pandemic. About a month ago, it resumed in all 24 of its markets and even launched a new health-safety initiative.

Under this initiative, for-sale homes will undergo an additional cleaning regimen, and personal protective equipment, such as masks and gloves, will be recommended for all people entering the properties. Also, the number of in-person tours will be limited to allow for healthy distancing. Zillow also offers self-guided, in-person tours.

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular Articles

FHFA: Government to back mortgages up to $970,800 in 2022

The FHFA today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. In high-cost areas, the new ceiling loan limit is $970,800.

Nov 30, 2021 By

Latest Articles

Black Knight’s Borrower Digital POS solution simplifies the mortgage loan application process for borrowers

To address lender needs, Black Knight developed Borrower Digital – a point-of-sale solution that delivers a single, fully integrated and customer-facing mortgage loan application solution. Borrower Digital streamlines and simplifies the loan application process for the borrower by guiding them through the prequalification, pre-approval and refinance processes.

Dec 01, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please