You Searched For "ibuyer" and got 20 results
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2 mins read
Zillow is reportedly looking to sell 7,000 homes as its homebuying unit hits turbulence
Zillow had been scooping up thousands of homes to flip for a profit. Then the market turned, and no…
Business Insider
3 mins read
The housing market is so red-hot it broke Zillow's algorithm that predicted how fast prices would surge
Volatility in the housing market "far exceeds what we anticipated" and makes algorithmic home flipp…
Ben Winck
3 mins read
Zillow just stopped flipping homes after scooping up thousands of properties over 3 years. Here's what happened.
Here's what we know about Zillow's abrupt decision and why it matters. Everything you need to know …
James Rodriguez
2 mins read
SoftBank-backed iBuyer Opendoor just slashed 35% of staff after the coronavirus forced the startup to halt its home-flipping operations
"Given the shelter-in-place guidelines, we've seen declines in the number of people buying, selling…
Alex Nicoll
2 mins read
Coronavirus is clobbering the real estate industry. From a frenzy of flex-office layoffs to iBuyers pressing pause, here's everything you need to know.
We've been tracking a slew of layoffs in the venture-backed real estate world, as empty short-term …
Business Insider
3 mins read
Zillow just paused its iBuyer business to preserve capital as the coronavirus slows deals, joining SoftBank-backed Opendoor and other competitors that have halted home-flipping
"Our top priority is ensuring the safety and health of our employees, customers, and partners. Give…
Alex Nicoll
4 mins read
Zillow lost $5,000 per sale in its fast-growing house-flipping business in 2019 - the same year that VC money poured into smaller iBuyer startups
Zillow's venture-backed competitors raised almost $1 billion in equity in 2019. Opendoor raised a $…
Alex Nicoll
10 mins read
House-flipping iBuyers have attracted buzz and VC funding, but are only big in a handful of markets. Here's how they work and what's keeping them out of places like Boston and New York.
This price is well within the typical band for iBuyers: Mike del Prete found that two-thirds of iBu…
Alex Nicoll
6 mins read
The problem with home-flipping giants
The housing downturn has besieged firms like Opendoor and Offerpad, which buy, lightly renovate, an…
AJ LaTrace
2 mins read
Big corporate home-flippers bad bet on hot pandemic housing markets could spell relief for fatigued home shoppers
Corporate iBuyers like Redfin and Opendoor stand to lose tens of millions of dollars as demand for …
Alcynna Lloyd
6 mins read
I regretted buying a home and now live out of 2 suitcases in a $60-a-night Airbnb. I've finally found my freedom, but it's not for everyone.
Stella Guan, 33, was sick of the expense and hassle of owning a home. She now works remotely while …
Dan Latu
1 min read
Redfin is shutting down its home-flipping business and laying off 13% of staff
The online listings site and brokerage has shut down its home-flipping branch, called RedfinNow, as…
Travis Clark
4 mins read
Read the memo Redfin's CEO sent employees announcing that the company is laying off 862 people
The latest round of layoffs come after Redfin announced 470 employees were departing the company ba…
Robert Davis
3 mins read
The price of a typical starter home fell in San Francisco, Austin, and Phoenix, bucking a national trend here's why
Each of these markets are experiencing whiplash after several years of robust buyer demand and pric…
Alcynna Lloyd
3 mins read
Proptech startup Ribbon plans more layoffs as economic uncertainty lingers, according to CEO's email
In an email to employees this week, the CEO said he would detail layoffs on Monday. The all-cash of…
Kelsey Neubauer
1 min read
Zillow extends 3-day plunge to 39% as the company abandons its home-flipping business amid housing-market pressure
Zillow CEO Rich Barton made the announcement after market hours Tuesday, adding the company would l…
Isabelle Lee
3 mins read
A 36-year-old chess prodigy built a software to speedily buy homes from afar for big investors, beating out everyday buyers. Now he's Atlanta's top broker.
A.J. Steigman's proprietary software "Steignet" identifies undervalued homes and sells them to big …
Hannah Towey
2 mins read
Zillow is shutting down its homebuying business and laying off 25% of its employees
"The most difficult part of this decision is that it will impact many of our colleagues," Zillow CE…
Avery Hartmans
1 min read
Cathie Wood's Ark Invest dumped Zillow for a 2nd day after buying the dip in the real estate firm earlier in the week
Cathie Wood's ARKK ETF sold another 1.8 million Zillow shares on Thursday, following Wednesday's sa…
Isabelle Lee
2 mins read
Opendoor says it will cut 550 employees as the $1.5 billion home-flipping company struggles to turn a profit
The firm is coping with a cool housing market by slashing prices, offering concessions to homebuyer…