Items Tagged with 'OPENDOOR'

ARTICLES

  • Opendoor acquires escrow and title company OS National

    Announcement comes on the heels of Opendoor Home Loans launch
    It’s been an interesting few weeks for Opendoor. Last week, the company announced the launch of Opendoor Home Loans, and officially entered the mortgage lending industry. Now, the iBuyer’s growth continues, as Opendoor announced Thursday that it has acquired OS National, LLC, a national title and escrow company.
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  • Opendoor leads the iBuying race, but Zillow is catching up

    Opendoor bought almost 10,000 homes in 2019’s first seven months
    So far this year, Opendoor is winning the iBuying race, as companies scramble to perfect the “instant buyer” business model. But, Zillow is on its heels. Opendoor purchased almost 10,000 homes in the January through July period, around three times the volume of Zillow, according to a report by Mike DelPrete, a real estate tech strategist.
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  • Opendoor is now a mortgage lender, launches Opendoor Home Loans

    iBuyer will finance home purchase even if borrower doesn’t buy from them
    Two years after dipping its toes into mortgage lending as part of an effort to make it easier for homebuyers to buy homes from the company, direct homebuyer Opendoor is officially expanding into the mortgage lending business. Opendoor announced Thursday that it is launching Opendoor Home Loans, which is a planned widespread expansion of its burgeoning mortgage business.
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  • With iBuyers, sellers pay a price for convenience

    Is it worth the premium to unload a property hassle-free?
    The iBuyer model may be new, but it appears to be catching on quick. The market for iBuyers has exploded, growing by 25% every year for the last four years as big names like Zillow and Redfin get in on the game. But what, exactly, do iBuyers bring to the table for home sellers? And, can this business model survive the housing market downturn so many are predicting? That’s what Collateral Analytics sought to answer in a recent paper on the topic, which offered a deep dive into the strength of the iBuying concept.
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  • Opendoor and Redfin join forces to begin buying houses in Phoenix and Atlanta

    Opendoor will being buying houses via Redfin’s platform
    In what may seem like a surprising partnership between two would-be competitors in the burgeoning iBuyer market, Opendoor and Redfin are joining forces to buy homes in Phoenix and Atlanta. The companies announced this week that homeowners in those two cities will now be able to request a direct offer for their home from Opendoor through Redfin’s website and mobile apps.
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  • Opendoor lays off 50, asks hundreds to relocate to Phoenix

    Makes plans to beef up Arizona headquarters
    It’s been a banner year for Opendoor, as the digital real estate disrupter continued to rake in serious investor cash, earning it a valuation of $3.8 billion. But, apparently, with all that cash comes growth, and that often leads to change. Opendoor laid off 50 of its 1,300 employees last month, and it’s asked as many as 300 working in offices around the country to relocate to its Phoenix headquarters.
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  • WSJ: Phoenix is "petri dish" for America’s iBuying experiment

    Arizona's capital is proving ground for computerized flipping
    High-tech flippers such as Zillow and Opendoor are using algorithms to reshape the housing market, and Phoenix is the "proving ground," according to a Wall Street Journal story. The advent of iBuyers is just the latest challenge agents face in the Phoenix area, said Sam Miller, president-elect of the 10,000-member Phoenix Association of Realtors.
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  • Top Realtor: iBuyers are stealing equity from homeowners

    Realtor Leigh Brown says the industry is locked in stiff competition with iBuyers
    The real estate industry is constantly evolving as new products and practices are introduced to the marketplace. And right now, the rise of the iBuyer is taking the industry by relative storm. At HousingWire’s engage.marketing conference held last week in Charlotte, prominent Realtor Leigh Brown said the real estate industry is locked in steep competition with these type of investors, because iBuyers are minimizing the role of agents and “stealing equity” from homeowners.
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  • The iBuyer market is booming, and it's not slowing down anytime soon

    Here's a look at where these companies operate and where they're headed
    Some might say that so far, 2019 is looking to be the year of the iBuyer. The term has exploded across the internet as major companies like Redfin and Zillow expand their reach into the business of buying homes directly from sellers. Here’s an up-close look at where these companies operate and where they’re headed next.
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