Items Tagged with 'OfferPad'

ARTICLES

  • Tariffs boost housing renovation costs after Zillow and others go all-in on iBuying

    Costlier supplies will shrink “razor thin” margins as iBuyers move into new markets
    The United States and China are locked in a tit-for-tat trade war that will boost the price of materials that go into home renovation and construction. The higher costs come as iBuyers such as Zillow, Opendoor and Offerpad are expanding into new markets with plans for fixing up and reselling homes. "In iBuying, it's razor-thin margins anyway, so any sort of ripple in the pond has the potential to disrupt," said Mike DelPrete, a real estate strategist.
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  • Real estate startups have raised $1.9 billion in 2019

    Proptech investment is on track to surpass 2018’s $4.99 billion
    Real estate startups, sometimes called proptech for property tech, have raised $1.9 billion from investors this year, an average of about $475 million a month, according to startup tracker Crunchbase. That's up when compared with last year’s $4.99 billion, an average of about $417 million a month.
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  • WTH is an iBuyer?

    Instant offers for buying and selling homes are growing, and evolving
    More and more real estate transactions involve the participation of so-called iBuyers. But who are they, what do they do and are they a threat to real estate agents? Here's what we know so far.
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  • Can iBuyer platforms co-exist with Zillow?

    Execs from Opendoor, Offerpad and Knock weigh in at San Francisco's Lendit Fintech Conference
    Home trade-in platforms like Knock, Opendoor and Offerpad are seeking to bring a simpler home buying and selling process for homeowners. What does it mean for them now that Zillow is in their rearview mirrors and stepping on the gas?
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  • iBuyer startup Perch lands $220 million capital investment

    Aims to disrupt residential real estate with its full-service offering
    Perch, an online platform for home buying and selling, announced this week that it raised $220 million in funding to fuel its plans for continued expansion. The company, which launched in Texas early last year, is part of a rising category of companies called iBuyers, which seek to simplify the home buying and selling process by creating a completely digital transaction that puts consumers in control. But with a full-service offering that promises more than its competitors, Perch is looking to stand out.
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  • This new tool helps home sellers compare instant bids from iBuyers

    Zavvie launches the Offer Optimizer in 21 markets
    A number of companies – like Offerpad, Opendoor, Zillow and Redfin – have launched iBuyer initiatives that present home sellers with an instant cash offer for their properties. Now, publishing platform zavvie is launching the Offer Optimizer, a tool to help home sellers navigate these instant online bids.
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  • iBuyer Offerpad's latest funding round brings total capital raise to nearly $1 billion

    Arizona-based company lays major plans for growth
    Offerpad is on a mission to revolutionize the home-buying and selling process, and now the Arizona-based iBuyer has fistfuls of cash to realize that goal. The company recently announced that it closed a successful round of Series C financing, bringing the total amount of equity and debt capital it has raised since its launch 3.5 years ago to $975 million.
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  • Direct buyer Offerpad planning significant expansion, beginning in Texas

    Begins operating in Houston metro area, San Antonio expansion coming soon
    Last year, Offerpad secured $150 million in funding, which the direct homebuyer said it planned to use for business expansion. Late last year, Offerpad began operating in Tucson, Arizona, and expanded into the Dallas-Fort Worth metroplex. As it turns out, that won’t be the company’s only foray into Texas.
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  • With foreclosures dwindling, investors turn to direct buyers for new single-family rentals

    Direct buyers offer inventory as other sources dry up
    In the wake of the housing crisis, institutional investors became some of the biggest buyers of foreclosed homes, buying the properties on the cheap and turning them into single-family rentals. Now, with foreclosure inventory shrinking, investors are turning to a new outlet to buy homes to turn into rentals – direct buyers.
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  • Direct homebuyer OfferPad secures $150 million in funding to power growth

    Targeting $1.5 billion in volume in 2018
    There certainly appears to be no shortage of money interested in investing in the burgeoning direct homebuyer segment. Opendoor has been raising money hand over fist, a newcomer named Perch launched last week with $30 million in funding, plus Zillow and Redfin both recently expanded into direct buying. The other growing player is OfferPad, which announced this week that it recently secured $150 million in new funding to continue growing its direct buyer business.
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