Items Tagged with 'OPENDOOR'

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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  • [Pulse] Will iBuyers survive a buyer's market?

    The iBuyer concept is fresh and exciting, but it remains untested throughout a full market cycle
    The housing market is cyclical, and history shows businesses based on a perpetual seller's market do not last. Good housing markets are very forgiving, but when they turn, flawed concepts are rapidly and ruthlessly exposed. Selling homes in a seller's market is not difficult. But when the market turns and buyers gain the upper hand, will the iBuyer concept survive?
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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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  • Are iBuyer competitors an "existential threat" to Zillow?

    Real estate strategist says instant offers are the new Zestimate
    The burgeoning iBuying industry is giving smaller companies a chance to challenge the housing market's behemoth, Zillow Group. That's according to a new report by Mike DelPrete, a real estate strategist who compared companies like Opendoor, which purchased more than 10,000 homes to renovate and sell in 2018, with Zillow, which bought fewer than 1,000.
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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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  • Opendoor lands $300 million capital infusion

    The iBuyer is now valued at $3.8 billion
    Digital real estate disrupter Opendoor has landed yet another massive cash infusion, raising $300 million in a recent investment round and bringing its total equity capital to $1.3 billion. Now, the company – which aims to change the way Americans buy and sell homes by whittling the process down to a few simple online transactions – is valued at $3.8 billion.
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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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