Podcasts about ibuying

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  • 75PODCASTS
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  • Jan 6, 2022LATEST

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Best podcasts about ibuying

Latest podcast episodes about ibuying

HousingWire Daily
Ryan Serhant on iBuying and the future of real estate teams

HousingWire Daily

Play Episode Listen Later Jan 6, 2022 32:37


Today's HousingWire Daily features a crossover episode with RealTrending. In this episode, Tracey Velt, editorial director at RealTrends, interviews Ryan Serhant, the founder of New York-based brokerage SERHANT. and the star of Bravo's “Million Dollar Listing: New York” and “Sell it Like Serhant.”Serhant came on the show to give his opinion on the iBuyer business model, discuss the future of real estate teams, and dispel any misconceptions that people might have about his brokerage.

HousingWire Daily
Demystifying home pricing models with Lee Kennedy

HousingWire Daily

Play Episode Listen Later Jan 5, 2022 29:34


For this week's episode of Houses in Motion, which is part of HousingWire Daily,  the founder of AVM testing company AVMetrics Lee Kennedy spoke with HousingWire real estate reporter Matthew Blake about the capabilities, limitations, and necessity of AVMs, as well as the complex data that goes into making decisions. 

BiggerPockets Daily
443 - Zillow Pauses iBuying: What Does This Mean for Your Market? by Dave Meyer

BiggerPockets Daily

Play Episode Listen Later Dec 31, 2021 5:32


https://www.biggerpockets.com/blog/zillow-stops-buying-housesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Peer 2 Peer Real Estate's podcast
Show 211: Zillow Shuts Down IBuying Platform.

Peer 2 Peer Real Estate's podcast

Play Episode Listen Later Dec 29, 2021 13:39


Hello everyone. I'm pretty sure by now you heard about Zillow's Ibuying platform that had to be shut down because of their buying criteria, They bought houses above asking price, made some renovations, and try to sell at retail. But since most buyers, whether investors or home buyers, they look at comps, they don't buy without doing their due diligence. Check out the rest of the article here: https://www.wired.com/story/zillow-ibuyer-real-estate/Platforms where you can look at comps. Propstream.comRealtor.comOwnerly.comGeodataplus.comPropertyshark.comWhat did you think about the topic? leave your comments below.Please go to Apple Podcasts look for us at Peer 2 Peer Real Estate Podcasts, subscribe and leave a reviewKeep the momentum going, Good things will happen.Thank you and Stay safe. See acast.com/privacy for privacy and opt-out information.

HousingWire Daily
Ken Johnson on the 2022 COVID real estate market

HousingWire Daily

Play Episode Listen Later Dec 22, 2021 28:54


The year 2021 is ending with the news that COVID  infections are, again, on the rise nationally. What this means for real estate is more of the same, said Ken Johnson, a real estate economist at Florida Atlantic University, and that's not a good thing.On this episode of Houses in Motion, part of HousingWire Daily, Johnson discussed with HousingWire Real Estate Reporter Matthew Blake that the public's and government response to COVID could mitigate plans to increase mortgage interest rates. Also, the construction of new inventory could further stall. 

Global Investors: Foreign Investing In US Real Estate with Charles Carillo

iBuying is a term used more and more today when describing how owners are choosing to sell their homes for price and also convenience. Charles discusses what an iBuyer is and how it affects residential real estate; agents, owners, buyers and investors. Links Referenced in Episode: https://www.zerohedge.com/markets/zillow-caught-holding-bag-93-phoenix-flipping-portfolio-listed-loss https://www.cnbc.com/2021/11/02/zillow-shares-plunge-after-announcing-it-will-close-home-buying-business.html https://www.businessinsider.com/zillow-offers-ibuyer-sell-phoenix-homes-at-a-loss-2021-10   What do you want to hear/see more of and less of? What question do you always wish I would ask but I never do? Connect with the Global Investors Show, Charles Carillo, and Harborside Partners: ◾ Setup a FREE 30 Minute Strategy Call with Charles: schedulecharles.com/  ◾ Global Investors Web Page: charleskcarillo.com/global-investors-podcast/ .◾ Join Our Email Newsletter: http://bit.ly/32pehL0 ◾ Foreign Investing in US Real Estate Facebook Group: facebook.com/groups/ForeignInvestingInUSRealEstate/

Learn Real Estate Investing | Lifestyles Unlimited
(December 16, 2021) Where Zillow Went Wrong

Learn Real Estate Investing | Lifestyles Unlimited

Play Episode Listen Later Dec 16, 2021 42:10


Zillow spent millions of dollars designing their iBuying software and associated algorithms, yet never understood the fundamentals of localized markets. Al Gordon explains what went wrong, and how to avoid assets that will fail you financially.   Click to Listen Now

Learn Real Estate Investing | Lifestyles Unlimited
(December 16, 2021) Where Zillow Went Wrong

Learn Real Estate Investing | Lifestyles Unlimited

Play Episode Listen Later Dec 16, 2021 42:10


Zillow spent millions of dollars designing their iBuying software and associated algorithms, yet never understood the fundamentals of localized markets. Al Gordon explains what went wrong, and how to avoid assets that will fail you financially.   Click to Listen Now

French Workbench
Ep #69- Problems with Single-Family Housing & Rental Market + Crypto Market Uneasy About Fed Meeting

French Workbench

Play Episode Listen Later Dec 16, 2021 62:48


Welcome to the French Workbench Podcast and the Las Vegas Experience with Dan French. There's a problem with the U.S. single-family housing market. “U.S. housing supply is dwindling once again as homes continue to fly off the market at record prices,” said Jeremy Sicklick, CEO of real estate data analytics firm HouseCanary. “For homebuyers, across the country we expect the shortage of homes for sale to extend well into 2022.” In assessing blame for a high-demand, low inventory housing market, one finger is pointed at companies that purchase single-family homes as an investment. “Selling out: America's local landlords. Moving in: Big investors,” reads a Reuter's headline from this July. “A $60 billion housing grab by Wall Street,” trumpets an October New York Times magazine story. Last month, Zillow said it was winding down its iBuying division, and courting corporate investors to buy its 18,000 homes remaining in inventory. Meanwhile, Redfin released a report with the headline: “Investors bought a record 18% of U.S. homes that sold in the third quarter.” But despite these headlines and recent developments, big investors and Wall Street play a small role in the U.S. single-family home market. Please comment if you have any questions, and hit that like and Subscribe button for more! _______________________ HOSTED BY: Dan French Realtor | Key Realty LLC License # S.0193843 9890 S Maryland Parkway Las Vegas, NV 89183 702-557-6176 https://www.lvhomeprofessionals.com Follow Us on Social Media! Instagram: https://www.instagram.com/danfrenchlv/ Facebook: https://www.facebook.com/TheMarketSna... Twitter: https://twitter.com/AskDanFrench _______________________ Richard Raines License # B.0033384.LLC Atlas Group LC Property Management 601 S. Rancho Dr. B17 Las Vegas, NV 89106 (702) 916-2200 http://www.property-mgmt.com Bret Jenny Broker Associate License # BS. 1001584 Bret Jenny Real Esate 1780 W Horizon Pkwy # 100 Henderson NV 89012 702-628-3476 https://www.bretjenny.com/ Esmeralda Licea (702) 762-1888 7450 Arroyo Crossing Parkway, Suite 270 Las Vegas, NV 89113 https://www.esmeraldatitle.com/ https://wfgtitle.com/esmeralda-licea/ _______________________

The Real Estate Sessions
Episode 303 - Jay Thompson, Selectively Retired

The Real Estate Sessions

Play Episode Listen Later Dec 14, 2021 52:34


 THE REAL ESTATE SESSIONS PODCAST Episode 303:  Host: BILL RISSER Guest: JAY THOMPSON In this episode, Jay Thompson, my guest, was the first guest to be interviewed at the beginning of the podcast in 2015. Jay is a "retired" Real Estate agent and broker currently based in Texas. In this episode, I sit with Jay as we reminisce on some points from the first episode of the podcast, discuss highlights from Jay's selective retirement, and note significant developments in recent times in the Real Estate industry. Top Takeaways: "I really think it's super important for future retirees ...you've still got to stay busy." - [Jay Thompson] "Real Estate agents will be around in some form, I think, forever." - [Jay Thompson] "It's not customer service that matters; it's customer experience; you need to provide a great customer experience." - [Jay Thompson] Episode Highlights: [00:18] Intro [00:56] Meet today's guest, Jay Thompson. [04:00] Jay's journey into Real Estate till retirement. [17:56] Have you been surprised by any feature of retirement? [21:02] The Beverly Carter Foundation. [26:51] Discussing Zillow's decision to stop the iBuyer program. [32:30] About eXp Realty. [42:01] What should we anticipate in Real Estate? [47:35] Jay's advice to new agents. [50:58] Connect with Jay. [52:19] Outro Episode Notes: Jay was the first guest I interviewed on the podcast, in https://therealestatesessions.com/episodes/episode-1-jay-thompson-zillow-group (episode one on August 31st, 2015). He was an agent and a broker who worked for Zillow for 6.5 years and then retired in July 2018. Selective retirement is a more practical term for Jay than retirement because although he has no regular job, he gets to pick and choose the work he wants to do. However, the experience of working with people and being a part of something is significantly less with retirement, so a conscious effort has to be made towards it. Jay retired to the gulf coast somewhere in Texas during the pandemic. After retirement, Jay was surprised at how long it took him to wind down from working all his life. The Beverly Carter Foundation: The foundation is a 501c nonprofit organization created in 2014 after Beverly Carter was kidnapped. She had gone to show a home in Arkansas when she was kidnapped for ransom which went wrong after the police got involved, and the kidnappers took her life. The foundation gives safety training and awareness to realtors and other lone workers like inspectors and appraisers. To help support the foundation, http://www.beverlycarterfoundation.org/ (visit the website) and donate.  Zillow had announced that they were stopping their iBuying program and effectively would not buy any more homes for the rest of 2021. This was a shock to the Real Estate world, including Jay, who believes the company plans to take such a huge step. He also believes it is too soon for critics to cheer the demise of Zillow. About eXp Realty: Jay started Thompson Real Estate but had to merge with eXp Realty so his wife, managing it, could move full-time to Seattle. Jay learned more about the revenue share model and was intrigued by it; the equity from the merger played a significant factor in Jay's retirement. It is important to note that eXp's revenue-sharing model is different from KW's profit-sharing model. Concerning expectations in the near future, Zillow will continue in other areas of the business and will be around for a very long time. Also, the current debacle with the DOJ will result in a significant shift in the Real Estate industry; nonetheless, Real Estate agents will always be relevant. Jay's advice to new agents: Provide a superior customer experience, rather than simply customer service; customer service means you will do anything and everything to make customers happy, but that will kill you if you're not careful. Resources Mentioned: Connect:...

Onward, a Fundrise Production

In the premiere episode co-hosts Ben Miller, Co-Founder and CEO of Fundrise, and Emily Peck, Content Director at Fundrise, dive into Fundrise's Q3 performance — “an overnight success years in the making.” Ben explains why the company is investing in single-family rentals, how millennials think about real estate, and how the commercial real estate market has yet to truly adjust to the changes set in motion by the pandemic. Plus, Ben and Emily talk about what happened to Zillow's much ballyhooed iBuying program.  Discussed in the show:  Fundrise's letter to investors.  Podcast production by Seaplane Armada. 

Brick x Brick Podcast
Reflecting on Zillow‘s Exit from iBuying

Brick x Brick Podcast

Play Episode Listen Later Dec 8, 2021 55:25


In early November, the real estate marketplace Zillow announced that it will be exiting their iBuyes business.  In today's episode of the Brick x Brick podcast, we reflect on the business practices of Zillow that led to this event, what it means for the real estate industry, and what consumers should know about Zillow's exit from iBuying.

Data Driven Real Estate
Spencer Rascoff, Co-founder of Zillow, Pacaso, dot.LA, and 75andSunny #DDRE43

Data Driven Real Estate

Play Episode Listen Later Dec 7, 2021 61:04


Spencer Rascoff is a serial entrepreneur and company leader who is now the chair and co founder of Pacaso, dot.LA, and Supernova. He also is co-founder and general partner of 75 & Sunny, a VC firm that focuses on early stage startups and he also serves on the board for Palantir. But most of us watching or listening to this show know Spencer from Zillow, which he co-founded in 2006, and served as CEO for a decade.00:00 The Data Driven Real Estate Podcast Welcomes Spencer Rascoff, Co-founder and former CEO of Zillow, Co-founder and Chairman of Pacaso, dot.la and Supernova, Co-founder and General Partner of 75 & Sunny and Board Member of Palantir00:54 Briefly mentioning the state of DDRE1:10 How did Spencer get involved in so many industries?3:37 Spencer's wide breadth of investing and investing philosophy8:55 What is Pacaso and how does it work?20:00 Supernova, Offerpad, SPACs and iBuying20:31 What excites Spencer about Offerpad?31:00 Spencer's past, present and future with iBuying34:00 Can Wall Street and property technology survive another downturn?44:02 What data does Spencer wish he had and the future of real estate49:45 Spencer's favorite software collaborators51:53 What technologies could we see changing the state of real estate?55:04 The current state of the DDRE Podcast and its future

Deconstruct
The Zillow Fiasco

Deconstruct

Play Episode Listen Later Nov 29, 2021 16:12


Earlier this month, Zillow quit the iBuying business. The firm would no longer buy and sell homes. TRD reporter Erin Hudson discusses what happened and why Zillow's exit from the iBuying industry is so significant. You'll hear from Trulia co-founder Sean Black, who sold his firm to Zillow in 2015, as well as Rick Palacios Jr., who leads research at John Burns Real Estate Consulting.

Bill Handel on Demand
The Bill Handel Show - 9a - Epstein's Final Days and 'Overwhelming Evidence' Found Against Andrew Cuomo

Bill Handel on Demand

Play Episode Listen Later Nov 23, 2021 30:36


Bill Handel talks about Jeffrey Epstein's final days. Also, the New York Assembly has found an 'overwhelming amount of evidence' against former Governor Andrew Cuomo regarding sexual harassment and the use of state resources for his memoir. Is iBuying here to stay? And some U.S. Christian schools believe religious freedom means they can fire gay teachers.

Reverse Mortgage News by HECMWorld
E697: Inflation is back! Here‘s what retirees can expect

Reverse Mortgage News by HECMWorld

Play Episode Listen Later Nov 22, 2021 9:18


Inflation is Back! What it means for retirees Racial bias in appraisals addressed in the latest mortgagee letter Zillow revises home price forecast for 2022 upward, despite dumping iBuying program

This Week in Intelligent Investing
Challenges of Forecasting in Business and Investing | Zillow‘s Retreat From iBuying

This Week in Intelligent Investing

Play Episode Listen Later Nov 21, 2021 54:48


In this episode, co-hosts Elliot Turner, Phil Ordway, and John Mihaljevic discuss (i) the challenges of forecasting, faced by businesses and investors alike; and (ii) thoughts on Zillow's retreat from ibuying. Enjoy the conversation!   The primary purpose of this podcast is to educate and inform. The views, information, or opinions expressed by hosts or guests are their own. Neither this show, nor any of its content should be construed as investment advice or as a recommendation to buy or sell any particular security. Security specific information shared on this podcast should not be relied upon as a basis for your own investment decisions -- be sure to do your own research. The podcast hosts and participants may have a position in the securities mentioned, personally, through sub accounts and/or through separate funds and may change their holdings at any time.   About the Co-Hosts: Elliot Turner is a co-founder and Managing Partner, CIO at RGA Investment Advisors, LLC. RGA Investment Advisors runs a long-term, low turnover, growth at a reasonable price investment strategy seeking out global opportunities. Elliot focuses on discovering and analyzing long-term, high quality investment opportunities and strategic portfolio management. Prior to joining RGA, Elliot managed portfolios at at AustinWeston Asset Management LLC, Chimera Securities and T3 Capital. Elliot holds the Chartered Financial Analyst (CFA) designation as well as a Juris Doctor from Brooklyn Law School.. He also holds a Bachelor of Arts degree from Emory University where he double majored in Political Science and Philosophy. Philip Ordway is Managing Principal and Portfolio Manager of Anabatic Fund, L.P. Previously, Philip was a partner at Chicago Fundamental Investment Partners (CFIP). At CFIP, which he joined in 2007, Philip was responsible for investments across the capital structure in various industries. Prior to joining CFIP, Philip was an analyst in structured corporate finance with Citigroup Global Markets, Inc. from 2002 to 2005. Philip earned his B.S. in Education & Social Policy and Economics from Northwestern University in 2002 and his M.B.A. from the Kellogg School of Management at Northwestern University in 2007, where he now serves as an Adjunct Professor in the Finance Department. John Mihaljevic leads MOI Global and serves as managing editor of The Manual of Ideas. He managed a private partnership, Mihaljevic Partners LP, from 2005-2016. John is a winner of the Value Investors Club's prize for best investment idea. He is a trained capital allocator, having studied under Yale University Chief Investment Officer David Swensen and served as Research Assistant to Nobel Laureate James Tobin. John holds a BA in Economics, summa cum laude, from Yale and is a CFA charterholder.

Stock Club
Why Are General Electric and Johnson & Johnson Splitting Themselves Up?

Stock Club

Play Episode Listen Later Nov 19, 2021 36:54


Over the past few weeks, both General Electric and Johnson & Johnson have announced that they are breaking up their existing businesses into new companies.  Why is this happening now and what does it say about the existence of old-world conglomerates in the modern market? In this episode, we also discuss: Opendoor's earnings and what it said about the future of iBuying. Airbnb's phenomenal quarter. And two companies we're researching at the minute — Sweetgreen and Alarm.com.  Get your early Black Friday deals of $30 off a MyWallSt subscription (https://bit.ly/30Ht6NP) or $150 off a Horizon subscription (https://bit.ly/3Dx7SAM) now! MyWallSt operates a full disclosure policy. MyWallSt staff may hold long positions in some of the companies mentioned in this podcast.

HousingWire Daily
Steve Murray on China's real estate crisis

HousingWire Daily

Play Episode Listen Later Nov 18, 2021 14:19


Today's HousingWire Daily features a crossover episode with RealTrends' podcast RealTrending, which showcases the brightest minds in real estate and the housing market. In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses the real estate crisis in China and the implications it could have for the U.S. real estate industry and governmental regulations.He also shares some of the recent innovations in financing services and, additionally, how relationships are still the driving force behind the housing industry. 

Equity
Did Zillow get high on its own supply?

Equity

Play Episode Listen Later Nov 17, 2021 23:53


This is our Wednesday episode when we niche down to a single topic, looking to expand our understanding of one particular technology trend or another. This week? iBuying.Zillow made a decision to get out of the iBuying market, with huge costs hanging over its head and a grip of layoffs to manage. Natasha and Alex were curious what went wrong.So we brought along Ryan Lawler, one of TechCrunch+'s reporting team, who has covered the space for a chat. Ryan helped us use Opendoor earnings as a comparison point -- it turns out that the iBuying model can work, even if Zillow itself struggled with the model. (Opendoor went public via a SPAC, recall.)We also talked about what the situation could mean for startups in the real estate market more broadly. It turns out that merely having data is not enough to make money in the housing space.Equity is back Friday morning with our weekly news roundup, and if all goes well, also back on Saturday with something both special and fun.And if you haven't given our sister podcast, Found, a listen, check it out!

Market Proof Marketing: New Home Builder Marketing Insights

Market Proof Marketing · Are All Marketers Liars? Kevin Oakley, Julie Jarnagin, and Samantha Matlock consider if all marketers are liars? They discuss the illusion of influencers and how it relates to home builder marketers, Kevin has some exciting news on upcoming guests that you won't want to miss, and the team discusses OpenDoor and Zillow's approach to iBuying. Story Time (2:11) Julie shares why she is waiting for Black Friday and how it relates to a homebuyers' fear of overpaying. Samantha is finally preapproved and aiming to move into a new home and out of her apartment in Colorado before the Summer. Kevin reflects on the illusion of influencers and if all marketers are liars. He gives a quick update on his house and why he will never purchase a pool again. Plus, Kevin teases some NEW GUESTS who are coming soon.In the NewsOpendoor shares soar as investors predict gains in home buying market after Zillow's exit (https://www.cnbc.com) (https://www.opendoor.com/w/partner/builder) Pretium Partners picks up 2,000 Zillow homes to kick off iBuying wind-down (https://therealdeal.com)Facebook-parent Meta will remove the ability to target ads based on sensitive categories (https://www.cnn.com) Google recommends placing videos on dedicated pages for maximum exposure (https://searchengineland.com) Advertising Spending Roars Back After Pandemic Pause (https://www.forbes.com)Questions? Comments? Email show@doyouconvert.com or call 404-369-2595 and we'll address them on the next episode.More insights, discussions, and opportunities in the Market Proof Marketing Facebook group.Subscribe on iTunes > https://now.doyouconvert.com/mpm-itunesFollow on Spotify > https://now.doyouconvert.com/mpm-spotifyListen On Stitcher > https://now.doyouconvert.com/mpm-stitcherA weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, and others from Do You Convert will break down the headlines, share best practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We're here to help you – not to sell you! The post Ep 177: Are All Marketers Liars? appeared first on Online Sales and Marketing for Home Builders - DYC.

Real Estate News: Real Estate Investing Podcast
The Real Estate News Brief: Fed Chair Finalist, Top Property Investing Sector, Adverse Market Fee Bonanza

Real Estate News: Real Estate Investing Podcast

Play Episode Listen Later Nov 16, 2021 6:27


In this Real Estate News Brief for the week ending November 13th, 2021... the two Fed Chair finalists, the top property investing sector, and the billions earned from a pandemic fee on refinancing loans. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic NewsWe begin with economic news from this past week. President Biden is reportedly close to a decision on who he'll nominate as chief of the Federal Reserve. Fed Chief Jerome Powell's four-year term is up in February, and it appears that Biden is now deciding whether to keep Powell or replace him with Fed Governor Lael Brainard. Brainard is considered more progressive than Powell. She's described in a Barron's article as more “dovish on monetary policy and stronger on bank regulation.” Some Fed watchers also believe that Brainard is more in tune with Biden's economic agenda, but Powell has strong support from moderate Democrats and Republicans, which gives him an edge over Brainard. Biden has said he'll make a decision “fairly quickly.” Some believe he'll announce a nomination by Thanksgiving. (1) (2) Whoever lands that job will be tackling inflation, which surged to a 31-year-high this last week. The consumer price index was up .9% in October, according to the government. That raises the annual rate of inflation from 5.4% in September to 6.2% in October, which is more than triple the Fed's target of 2%. It's also the highest rate of inflation since November of 1990. If you eliminate higher prices for food and energy, the core CPI is about 4.6%. That's up from 4% in September. (3)The gauge the Fed watches more closely is the PCE which stands for personal consumption expenditures. That's rising more slowly. The PCE was 4.4% in September and 3.6% for the core rate. October numbers haven't come out yet.Initial applications for state unemployment benefits dropped again. There were just 267,000 new claims last week while layoffs also fell to a record low. (4) Employers have been struggling to find enough workers to fill positions. There are currently 10.4 million job openings and just 7.4 million people listed as unemployed. One result of this lopsided situation: Companies are increasing hourly rates to attract candidates. Data from Indeed.com shows that jobs offering less than $15 an hour are scarce. (5)Consumers are not very happy about the current economic situation. The University of Michigan Consumer Sentiment Index fell to its lowest level in a decade. The November reading was 66.8. That's a drop of about five points from October, and about 35 points lower than the pre-pandemic reading of 101. (6)Mortgage RatesOn a more positive note, mortgage rates dipped below the 3% level this last week. Freddie Mac says the average 30-year fixed-rate mortgage was down 11 basis points to 2.98%. The 15-year was 2.27%. (7)In other news making headlines…Single-Family Build-to-Rent BoomInvestors are clamoring into the single-family build-to-rent market, as demand and rents soar. A new Green Street report shows that investors are earning 8% on average. That is the highest amount among the 18 property sectors analyzed by Green Street. As reported by the Wall Street Journal, the weighted average return for all property sectors is 6.1%. (8)Housing economics consultant, Brad Hunter, says that builders provided almost 100,000 new rental homes in 2021, and that investors have pumped about $30 billion into this corner of the real estate market. The momentum has created a frenzy for land that's suitable for build-to-rent. One builder told the Journal: “You almost have to find the land before it gets put on the market.”GSE Bonanza from Adverse Market FeeRemember the “adverse market fee” on refinancing loans during the pandemic? It was a 50 basis point fee for refi loans backed by Fannie Mae and Freddie Mac, and it earned those two GSEs a bundle!According to the Federal Housing Finance Agency, Fannie and Freddie earned $5.3 billion from that fee. (9) It says the money will cover about 70% of the cost of the GSE's Covid relief programs, such as the moratorium on foreclosures, and forbearance programs that allowed homeowners to skip their mortgage payments. The adverse market fee was in force for about 10 months, starting in October of last year.Opendoor Buys RedDooriBuyer Opendoor will be able to pre-approve applicants in just “one” minute, with the acquisition of online mortgage broker RedDoor. The mortgage company was founded in 2018 and has partnered up with more than 70 lenders. (10)The announcement comes at a time when Zillow has announced the elimination of its iBuying program, and has created doubts about the profitability of the iBuying business. But as HousingWire reports: “Some investors see add-on services… (like mortgages) as a possible way for iBuyers to eventually turn a profit.”Opendoor expanded into the mortgage business in 2019. And it reportedly “smashed through” earnings estimates for the third quarter with 5,988 homes sold. Year-over-year revenue was up 570%. With Zillow out of the picture, Opendoor now has one less competitor. That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!You can also join RealWealth for free at newsforinvestors.com. As a member, you have access to the Investor Portal where you can view sample property pro formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.Thanks for listening. ​​I'm Kathy Fettke. ​​Links:1 -https://www.barrons.com/articles/federal-reserve-powell-brainard-biden-nomination-516367371032 -https://www.washingtonpost.com/us-policy/2021/11/11/brainard-fed-biden-powell/3 -https://www.marketwatch.com/story/coming-up-u-s-consumer-price-index-for-october-11636550300?mod=economy-politics4 -https://www.marketwatch.com/story/jobless-claims-slip-to-267-000-and-touch-new-pandemic-low-11636552204?mod=economic-report5 -https://www.marketwatch.com/story/job-listings-offering-less-than-15-an-hour-are-starting-to-disappear-in-todays-tight-labor-market-116366575806 -https://www.marketwatch.com/story/u-s-consumer-sentiment-declined-in-early-november-to-decade-low-university-of-michigan-2716367302647 -http://www.freddiemac.com/pmms/8 -https://www.wsj.com/articles/building-and-renting-single-family-homes-is-top-performing-investment-11636453800?mod=hp_lead_pos109 -https://www.housingwire.com/articles/fannie-freddie-made-5-3b-from-adverse-market-fee/10 -https://www.housingwire.com/articles/opendoor-buys-mortgage-brokerage-reddoor/

Kottke Ride Home
Mon. 11/15 - Welcome To The Human Library

Kottke Ride Home

Play Episode Listen Later Nov 15, 2021 17:32


Zillow is out of the iBuying game. What does that mean for its competitors and for the future of real estate? Plus, a look into the Human Library. And astronauts aboard the International Space Station were forced to take shelter in their return ships this morning due to on-coming space junk.Sponsors:Shopify, Get a 14-day free trial at shopify.com/kottkeTentree, Use code KOTTKE to get 15% off at tentree.comLinks:Why Zillow Couldn't Make Algorithmic House Pricing Work (Wired)Is that viral TikTok about housing market manipulation true? (Input)Redfin CEO explains how its iBuyer home buying program avoided pitfalls that sunk Zillow Group (Geek Wire)Zillow (Saturday Night Live, YouTube)This library lets you borrow people instead of books. It just may help bridge our bitter divisions (CNN)Space debris forces astronauts on space station to take shelter in return ships (Space.com)NASA was forced to change the orbit of the ISS due to space junk (Slash Gear)Space Station Space Debris and Human Spacecraft (NASA)Russia blows up a satellite, creating a dangerous debris cloud in space (The Verge)Kottke.OrgJackson Bird on TwitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Realty Brothers
ZILLOW and the Great iBuying Disaster E53

Realty Brothers

Play Episode Listen Later Nov 15, 2021 46:14


Time to ‘talk shop' folks, because this disaster extends FAR past the headlines. In this episode, the Realty Brothers explain everything you need to know about this falls biggest real estate story. From our own thoughts and opinions, to deeper analysis, AND why you should care! Plus, a few bonus tidbits to prove there's some good news out there after all… at least, for Man's Best Friend. Leave Us A Message: https://anchor.fm/therealtybros/message --- Send in a voice message: https://anchor.fm/therealtybros/message

Ticker Symbol: YOU
IT'S OVER! ARK Invest's $1 BILLION Breakup with These 4 Stocks

Ticker Symbol: YOU

Play Episode Listen Later Nov 15, 2021 14:29


GeekWire
Zillow, Amazon, Facebook and the pitfalls of rampant automation

GeekWire

Play Episode Listen Later Nov 13, 2021 29:46


The downfall of Zillow's iBuying business is a reminder of the downsides of relying too much on automation and machine learning algorithms at this stage in the evolution of technology. A conversation about the pitfalls of real estate valuations leads John Cook and Todd Bishop into a larger discussion about the continued importance of human judgment and attention in the modern world. Plus, cat vs. coyote: the crazy scene on Todd's Ring camera this week.  And in our final segment, we test a new feature: Tech Crank, in which Todd and John each offer a rant about something irksome in the tech world this week. Why the iBuying algorithms failed Zillow, and what it says about the business world's love affair with AI Redfin CEO explains how its iBuyer home buying program avoided pitfalls that sunk Zillow Group NYT: Inside Amazon's Worst Human Resources Problem Bloomberg: Highly Paid Union Workers Give UPS a Surprise Win in Delivery Wars Forget porch pirates, our Ring camera captured video of a cat escaping a coyote in Seattle Amazon-backed electric vehicle maker Rivian races to huge stock market debut after IPO Microsoft serves up a Google Chromebook rival with $250 Surface Laptop SE for students Podcast produced by Curt Milton. Theme music by Daniel L.K. Caldwell See omnystudio.com/listener for privacy information.

How to Money
Friday Flight - Zillow's Implosion, Your Office Beckons, & the 401(EXTRA)k #435

How to Money

Play Episode Listen Later Nov 12, 2021 35:07


It's time for a Friday Flight! These episodes are all about the week's financial news and the impact on your personal finances. There are a lot of headlines out there, but we distill it down to specific takeaways that will allow you to kick off the weekend informed and help you to continue to make smart money moves. In this episode we cover some relevant and helpful stories like: YNAB raising rates, the 401(EXTRA)k, your office beckons, negotiating higher pay, entrepreneurs are happier, cutting a vehicle with e-bikes, senior citizens and crypto holders getting scammed, millennials love DIY investing, active managed funds disappointing performance, Zillow's implosion, the future of iBuying, & how to go about refinancing. And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you're not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend! Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Savvy Realtor with Angie Cole
In the News: Zillow, Generational Competition, and Pending Home Sales

The Savvy Realtor with Angie Cole

Play Episode Listen Later Nov 11, 2021 13:57


With Zillow no longer iBuying homes, what does that mean for the market? We look into this and two other headlines about generational competition in the market and pending home sales.    Read and learn more: https://www.acolerealty.com/blog/in-the-news-zillow-generational-competition-and-pending-home-sales/   See our listings: https://www.acolerealty.com/    What we discuss:  0:38 - In the News: Zillow getting out of the iBuying business. 7:37 - In the News: Baby boomers and millennials competing for the same homes in the market. 10:54 - In the News: Pending home sales are down compared to a year ago.

HousingWire Daily
Michael Neal talks Black homeownership gap and AVMs

HousingWire Daily

Play Episode Listen Later Nov 10, 2021 34:03


Why are homes owned by white people valued more than homes owned by Black people?For this week's Houses in Motion, a podcast miniseries part of HousingWire Daily, HousingWire's real estate reporter Matthew Blake spoke with Michael Neal. Neal is a researcher at the Urban Institute, who has extensively studied not just the racial homeownership gap but the racial valuation gap. Neal also discussed the nuts and bolts of valuation models themselves. Our conversation, for example, touched on the valuation model that Zillow attempted to use for the iBuying program it is winding down.

Mind Pump: Raw Fitness Truth
1681: The Optimal Body Fat Percentage for Building Muscle, Staying Disciplined With Workout & Diet, the Best Intra-Workout Foods & Drinks & More

Mind Pump: Raw Fitness Truth

Play Episode Listen Later Nov 10, 2021 91:39


In this episode, Sal, Adam & Justin discuss whether there is an optimal body fat percentage for building muscle, advice for someone who tends to hop between training programs and diet plans, the benefits of intra workout food & drinks, and how to get over the fear of failing when wanting to become an entrepreneur. Is the pump sometimes overrated? (5:20) Finally, a positive way to give your kids a ‘complex'. (13:03) The Caldera partnership has been fully received by the ‘pump heads'. (19:34) Why we should have exceptions to the rule in the criminal justice system. (22:34) Understanding the excitement surrounding the Metaverse. (26:27) Breaking down the Double-slit experiment and its relation to the simulation. (30:54) Revisiting the Zillow conversation and future of the housing market. (39:39) Yet another reason to increase your financial IQ and resiliency. (50:03) #Quah question #1 – Is there an optimal body fat percentage for building muscle? (58:43) #Quah question #2 – What advice do you have for someone who tends to hop between training programs and diet plans? (1:06:41) #Quah question #3 – What's your take on intra workouts and drinks? What are the benefits of incorporating them, and what are some good options? (1:13:36) #Quah question #4 - How to get over the fear of failing when wanting to become an entrepreneur? (1:18:12) Related Links/Products Mentioned November Promotion: MAPS Anywhere and the Fit Mom Bundle – Both 50% off! **Promo code “NOVEMBER50” at checkout** Mind Pump #1675: Eight Ways To Get The BEST Muscle Pump Visit Paleo Valley for an exclusive offer for Mind Pump listeners! **Promo code “Mindpump15” at checkout for 15% discount** Visit Caldera Lab for an exclusive offer for Mind Pump listeners! **Code “mindpump” at checkout for the discount** Man killed his daughter's boyfriend for selling her into sex trafficking ring, police say Microsoft Teams enters the metaverse race with 3D avatars and immersive meetings Double-slit experiment - Wikipedia Nick Bostrom: The Threat Of Artificial Intelligence - Elon Musks Biggest Fear Superintelligence: Paths, Dangers, Strategies – Book by Nick Bostrom Opendoor shares soar on optimism of gains in iBuying after Zillow exit 77% of people who inherit family wealth lose it in less than 3-years Visit Oli Pop for an exclusive offer for Mind Pump listeners! **Promo code “mindpump” at checkout for 15% off your first order** Mind Pump #1512: The Value Of Following A Workout Program Mind Pump #1522: How To Stay Consistent With Your Diet & Workout Visit Drink LMNT for an exclusive offer for Mind Pump listeners! Your Next Five Moves: Master the Art of Business Strategy – Book by Patrick Bet-David Mind Pump Podcast – YouTube Mind Pump Free Resources People Mentioned Patrick Bet-David (@patrickbetdavid)  Instagram Robert Kiyosaki (@therealkiyosaki)  Twitter

Creating Wealth Real Estate Investing with Jason Hartman
1762: Collective Report, Construction Workers Shortage, Lunch with Robert Kiyosaki, Zillow's iBuying Program, Elon Musk Space X, Logan Mohtashami, Zillow Debacle, Big Drop in Home Prices Could Take Awhile

Creating Wealth Real Estate Investing with Jason Hartman

Play Episode Listen Later Nov 8, 2021 39:14


Today Jason gives us a recap of the The Collective's first Mastermind event in Scottsdale Arizona- raising capital, racing cars and fashion shows. Next event is in Florida. If you are interested, contact Jason at TheCollectiveMastermind.com. He also dissects the current construction worker shortage according to an article in RealTrends.com This episode also features a Housingwire.com interview with economist Logan Mohtashami, talking about the beleaguered real estate company Zillow putting a stop to their iBuying program. He also talks about his recent article "Waiting for a big drop in home prices? It could be a while." Home owners are staying in their homes longer because the "velocity of inventory doesn't move like it used to." Key Takeaways: 1:33 Greetings from Scottsdale, Arizona 3:26 A Shortage of Construction Workers 6:01 4 Hour Lunch at Robert Kiyosaki's Place, C+ on a Ferrari and Access to Information 8:52 Elon Musk & Rocket Science  10:23 Demand for Construction Workers and Upward Pressure on Housing Prices 14:17 Inflation During Thanksgiving 16:00 Inflation Induced Debt Destruction 18:05 Intro to Logan Mohtashami's Interview on the Zillow Debacle 20:30 Logan's Interview on the Fiasco of Zillow's iBuying Program 26:31 Housing Price Drop will Take Awhile The WEALTH TRANSFER is happening FAST! Protect your financial future now! Did you know that 25% to 40% of all dollars ever created were dumped into the economy last year???  This will be devastating to some and an opportunity to others, be sure you're on the right side of this massive wealth transfer. Learn from our experiences, maximize your ROI and avoid regrets. Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com Jason's TV Clips: https://vimeo.com/549444172  Asset Protection, Tax Savings & Estate Planning: http://JasonHartman.com/Protect What do Jason's clients say? http://JasonHartmanTestimonials.com Easily get up to $250,000 in funding for real estate, business or anything else  http://JasonHartman.com/Fund  Call our Investment Counselors at: 1-800-HARTMAN (US) or visit https://www.jasonhartman.com/ Guided Visualization for Investors: http://jasonhartman.com/visualization

Chrisman Commentary - Daily Mortgage News
11.8.21 Wholesale Margins; Josh Stech on iBuying Part Two; Payrolls Up, Yields Down

Chrisman Commentary - Daily Mortgage News

Play Episode Listen Later Nov 8, 2021 18:22


Lenders using Candor produce a high-quality loan that requires only 1 underwriter touch on 70% of loans.  Imagine the ROI by reducing fallout, improving hedge, slashing cycle time, and banishing repurchases.

Only in Seattle - Real Estate Unplugged
#821 - Zillow to Shut Down Zillow Offers and Lay Off 25% of Company

Only in Seattle - Real Estate Unplugged

Play Episode Listen Later Nov 7, 2021 28:16


The news is the latest in an abrupt turn of fortune for the Seattle-based company's iBuying service. The move is sure to have ripple effects for housing markets across the U.S., as Zillow has purchased thousands of homes through its Zillow Offers program.Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.https://www.bizjournals.com/losangeles/news/2021/11/02/zillow-shutting-down-zillow-offfers.htmlSupport the show (https://www.patreon.com/seattlerealestatepodcast)

All-In with Chamath, Jason, Sacks & Friedberg
E54: Spread trading big tech, capital allocation, Zillow's misfire, Progressives suffer losses

All-In with Chamath, Jason, Sacks & Friedberg

Play Episode Listen Later Nov 6, 2021 90:05


Show Notes: 0:00 Besties do a Microsoft-themed intro 7:53 Spread trading big tech, amazing power of Google and Microsoft 17:28 Sacks speaks about Bird going public from the NYSE, understanding distributions and evergreen funds, why Friedberg went the startup studio route 30:36 How DAOs fit in to the capital allocation landscape, the balance of consumer-facing products and infrastructure solutions for web 3.0 35:24 Zillow's iBuying implosion 46:05 Wokelash: Progressive democrats take huge hit on election day 2021, what are American voters looking for? 1:14:57 New CO2 to starch conversion discovered by Chinese researchers, future climate incentives Follow the besties: https://twitter.com/chamath https://linktr.ee/calacanis https://twitter.com/DavidSacks https://twitter.com/friedberg Follow the pod: https://twitter.com/theallinpod https://linktr.ee/allinpodcast Intro Music Credit: https://rb.gy/tppkzl https://twitter.com/yung_spielburg Intro Video Credit: https://twitter.com/TheZachEffect Referenced in the show: https://twitter.com/Suhail/status/1455553539552382979 https://www.bloomberg.com/news/articles/2021-11-01/zillow-selling-7-000-homes-for-2-8-billion-after-flipping-halt https://twitter.com/RTanuku/status/1456324783809826819 https://www.nytimes.com/news-event/elections-2021 https://www.nytimes.com/2021/11/04/nyregion/stephen-sweeney-durr-nj-election.html https://www.seattletimes.com/seattle-news/politics/republican-ann-davison-defeats-nicole-thomas-kennedy-to-become-seattles-first-woman-city-attorney https://www.nytimes.com/2021/11/03/us/politics/democrat-losses-2022.html https://www.nytimes.com/2021/11/04/us/california-math-curriculum-guidelines.html https://nypost.com/2021/11/01/mcauliffe-claims-everybody-clapped-after-classroom-comment https://www.newsweek.com/cnn-van-jones-glenn-youngkin-delta-variant-trumpism-1645303 https://twitter.com/patrickruffini/status/1454792424488902656 https://www.shorenewsnetwork.com/2021/10/17/if-taxes-are-your-issue-njs-not-for-you-murphy-says-comment-taken-out-of-context/ https://www.science.org/doi/10.1126/science.abh4049 https://twitter.com/friedberg/status/1454482267707899909 https://www.theguardian.com/environment/2021/sep/28/blah-greta-thunberg-leaders-climate-crisis-co2-emissions https://www.wsj.com/articles/climate-finance-china-india-11636039142 https://www.wsj.com/articles/tariffs-climate-change-greenhouse-gases-manufacturing-steel-11635862305 https://twitter.com/elonmusk/status/1454808104256737289

The 7investing Podcast
Zillow Drops iBuying; What's a Metaverse?

The 7investing Podcast

Play Episode Listen Later Nov 5, 2021 32:06


A few weeks ago Zillow suspended its iBuying program because it had too much inventory on hand. That was actually a precursor to the company fully exiting the space which is a massive change for its business. Steve Symington joins 7investing Now to talk about what happened, what it means for Zillow, and what it may mean for the concept of iBuying in general. And, later in the show, CryptoEQ's Spencer Randall comes on talk about the Metaverse, starting with telling us what it is. Welcome to 7investing. We are here to empower you to invest in your future! We publish our 7 best ideas in the stock market to our subscribers for just $49 per month or $399 per year. Start your journey toward's financial independence: https://www.7investing.com/subscribe Stop by our website to level-up your investing education: https://www.7investing.com Follow us: ► https://www.facebook.com/7investing ► https://twitter.com/7investing ► https://instagram.com/7investing --- Send in a voice message: https://anchor.fm/7investing/message Support this podcast: https://anchor.fm/7investing/support

Stock Club
Chegg and Under Armour: A Tale of Two Companies

Stock Club

Play Episode Listen Later Nov 5, 2021 36:15


In the past week, Chegg stock has fallen by almost 50% while Under Armour stock has spiked 25%. What caused such volatile movements for these two companies, and what does it say about their potential as long-term investments? In this episode, we also discuss: Facebook's brand new name, Meta. Zillow giving up completely on iBuying. And two stocks we're researching at the minute — Nerdwallet and Coupang. Interested in joining a two-week bootcamp on stock picking strategy led by our chief investor Emmet Savage? Sign up to 'The Fundamentals of Stock Picking' here before spaces run out. (https://bit.ly/3CQssf5)

Chrisman Commentary - Daily Mortgage News
11.5.21 Josh Stech on Zillow's iBuying Experiment; FOMC Inflation Fears; Solid October Payrolls

Chrisman Commentary - Daily Mortgage News

Play Episode Listen Later Nov 5, 2021 21:44


Getting control of the Trailing Documents process has been a thorn in the side of lenders for about as long as the mortgage industry has been around. As you will hear all about in just a moment, DocProbe has taken the mortgage industry by storm by revolutionizing the entire Trailing Docs process from the bottom up. For over 10 year now, well over 100 lenders around the country have relied on DocProbe for efficient, cost-effective, and headache-free processing of all their Trailing Docs so they can focus on what they do best. Closing new loans.

Bill Handel on Demand
The Bill Handel Show - 9a - Nudist Posers in Toronto and Entertainment News with Mo Kelly

Bill Handel on Demand

Play Episode Listen Later Nov 4, 2021 30:15


Bill Handel talks about how Zillow is throwing in the towel when it comes to iBuying - what's the deal with algorithmic home sales? And people are posing as nudists in effort to buy a cheap house for sale near the city of Toronto. Mo Kelly joins Bill for the back half of the hour for this week's edition of Entertainment News.

Market Proof Marketing: New Home Builder Marketing Insights
Ep 174: The Home Builder Visual Content Series

Market Proof Marketing: New Home Builder Marketing Insights

Play Episode Listen Later Nov 4, 2021 40:01


Market Proof Marketing · The Home Builder Visual Content Series Andrew Peek, Jackie Lipinski, and Samantha Matlock share the exciting news of Do You Convert getting a brand-new website and the Home Builder Marketer Visual Content Series launching soon! They also discuss the news of Meta and Facebook, Zillow's pause on purchasing new homes, and the helpful update to Instagram stories. Story Time (1:26)Jackie shares the exciting news of the launching of DYC's new website, the first month of data from a new builder marketing partner launch, and why she's thankful she attended the Woman in Residential Construction event.Sam shares her new home shopping story in Colorado and how she ended up having a disappointing experience with a nonresponsive online sales team. Andrew's neighbors are starting to sell the homes, and some of them are not realistic about their home prices. In the News (19:11) When Humanlike Chatbots Miss the Mark in Customer Service Interactions (ama.org) iBuying is Hard: Zillow Pauses New Purchases (mikedp.com) Lennar plans neighborhood of 3D-Printed Homes with Icon (builderonline.com) Facebook says it's refocusing company on ‘serving young adults' 45. Expect changes to Instagram to highlight Reels (theverge.com) Instagram now lets all users share links in Stories via Link Stickers (techcrunch.com) Questions? Comments? Email show@doyouconvert.com or call 404-369-2595 and we'll address them on the next episode. More insights, discussions, and opportunities in the Market Proof Marketing Facebook group. Subscribe on iTunes.  Follow on Spotify.  Listen On Stitcher.A weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, and others from Do You Convert will break down the headlines, share best practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We're here to help you – not to sell you! The post Ep 174: The Home Builder Visual Content Series appeared first on Online Sales and Marketing for Home Builders - DYC.

Massive Agent Podcast
The Big Zillow News: What Realtors Must Know

Massive Agent Podcast

Play Episode Listen Later Nov 4, 2021 21:38


When Zillow does something big everyone takes notice, and this week was no exception. Zillow just quit the iBuying business. What exactly does that mean for the local real estate agent? We all know Zillow as a behemoth machine that took the real estate industry by storm; but if we look closer, this pivot creates a great opportunity for local real estate agents.Today, Massive Agent Podcast host Dustin Brohm is sharing a great way Realtors can maximize on Zillow's exit from iBuying. Dustin reminds us that Zillow can't match the knowledge and experience we have in our individual markets. As licensed professionals, we should position ourselves as knowledgeable educators who can get the job done for our clients. That means speaking to clients and creating content that helps them understand the local market and positions us as the go to source when they're ready to buy or sell.We all know local Realtors are far better suited to provide much more targeted information that is beneficial to sellers. If we commit to educating our clients and frame Zillows latest move just right, we'll take the high road and gain more business in the process.Mentioned on this episode:CNBC Article - Zillow says it's closing homebuying business, cutting 25% of workforce; earnings miss estimates ***********************Sponsored by: Follow Up Boss, the CRM of choice for agents ready to scale quickly. Massive Agent listeners get a 30 Day FREE trial (normally only 14 days!) CLICK HERE************************Recommended:Witly: the fully automated Facebook Ad management system for real estate agents and loan officers. Get a 14 day free trial HEREShop my Amazon Store: podcasting equipment, my favorite books, cool stuff for  REALTORS®, etcMassive Agent Society: Our Real Estate Lead Gen Coaching Program/online course and online courseBuzzsprout: Host your podcast with the same platform we use. Affordable, user-friendly podcast hosting for real estate agents - New users get a $20 Amazon Gift CardFollow us on Instagram*The Massive Agent Podcast is a production of the Industry Syndicate

Real Estate News: Real Estate Investing Podcast
Zillow Quits iBuying Business, Unloads Inventory

Real Estate News: Real Estate Investing Podcast

Play Episode Listen Later Nov 3, 2021 4:20


Zillow has officially announced the end of it's iBuying program, Zillow Offers. The announcement comes just a few weeks after the company said it wouldn't be buying any more homes this year. And then there were reports that Zillow would be offloading thousands of homes at a discount.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.The iBuying frenzy has been growing among several competitors including Zillow, Redfin, Opendoor, Offerpad and others. There was a pause in those programs during the pandemic, but the iBuyers were back in full swing this year. And Zillow was one of the more exuberant ones.Home Price ForecastingBut Zillow apparently miscalculated the value of the homes it was buying. The company's financial results show a $304 million write-down for the homes that were purchased for more than it can sell them for. It expects to lose another $240 to $265 million for homes that it is contracted to purchase in the next quarter.CEO Rich Barton told investors: “We've determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.” (1)Zillow now expects to wind the home-flipping arm of its business down over several months. That includes a 25% reduction in its workforce, which will impact about 2,000 employees.Zillow's iBuying BingeThe company has been on a buying binge. According to the Wall Street Journal, Zillow bought 3,800 homes in the second quarter, and ended the third quarter with an inventory of almost 10,000 homes and another 8,000 homes under contract to buy. It only sold about 3,000 homes, and many were sold at a loss. The Journal says that Zillow also expects to lose between 5% and 7% on the remaining homes. (2)An analyst for KeyBanc looked at the financials for 650 homes in Zillow's inventory. That's about one-fifth of the homes the company owns. As reported by MarketWatch, he found that Zillow was selling two-thirds of them at a discount of 4.5%. Most of the discounted homes that he found are in San Diego; Charlotte, North Carolina; and Las Vegas. (3)Offloading Homes to InvestorsAccording to Bloomberg, Zillow is hoping to sell about 7,000 homes to institutional investors for close to $2.8 billion. The report says they will likely be sold to various buyers, and not as a single sale. (4)Barton founded the company 16 years ago. The iBuying arm of the business is relatively new. Barton wanted to hit 5,000 home flips a month and had predicted, last year, that Zillow Offers could generate $20 billion a year. What Went Wrong?Zillow has been an aggressive player in the iBuying market, offering more than competitors. That won Zillow some homes, but in markets that may have cooled off slightly, the anticipated price growth didn't materialize. It sounds a little like the scenario in 2005 when people thought home prices only go up. Right now, they are still going up, but Zillow apparently miscalculated by how much. The New York Times also reports that the company underestimated the risk of holding homes for too long between a purchase and a sale. (5) Zillow had previously said that labor and material shortages were impacting the business. The company couldn't turn them around fast enough. And that's a huge departure from a relatively risk free business model that Zillow was founded on.Barton and Zillow's CFO, Allen Parker, said in a shareholder letter: “Our aim was to become a market maker, not a market risk taker.” On a more positive note, there will be thousands of homes hitting the market at a discount from the previous sale price, and possibly of interest to investors both big and small.You'll find links to our sources in the show notes at newsforinvestors.com. You can also find out more about real estate investing at our website by joining RealWealth for free. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources. That includes experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more. And please remember to hit the subscribe button, and leave a review!Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.prnewswire.com/news-releases/zillow-group-reports-third-quarter-2021-financial-results--shares-plan-to-wind-down-zillow-offers-operations-301414460.html2 -https://www.wsj.com/articles/zillow-quits-home-flipping-business-cites-inability-to-forecast-prices-116358835003 -https://www.marketwatch.com/story/zillow-stock-dives-after-analyst-highlights-two-thirds-of-homes-bought-are-underwater-116357852934 -https://www.ocregister.com/2021/11/01/zillow-to-sell-7000-homes-for-2-8-billion-after-flipping-flop/5 -https://www.nytimes.com/2021/11/02/business/zillow-q3-earnings-home-flipping-ibuying.html

2 трейдера
2 трейдера: Что случилось с Zillow? / AVIS +110% / Заседание ФРС – сворачивание политики QE

2 трейдера

Play Episode Listen Later Nov 3, 2021 35:42


Представляем вашему вниманию новый выпуск подкаста 2 трейдера, в котором Исаков Роман и Фуад Расулов обсудили такие темы:

HousingWire Daily
Logan Mohtashami on Zillow's imploding ibuying business, home prices

HousingWire Daily

Play Episode Listen Later Nov 3, 2021 21:05


In today's HousingWire Daily, HousingWire's editor in Chief Sarah Wheeler and Lead Analyst Logan Mohtashami discuss how Zillow's model crushed its iBuying business. Mohtahsami also discusses his recent HW+ article that claims despite the COVID-19 crisis, American household balance sheets look the best they have in years, meaning home prices may not decline for a while. HousingWire Daily examines the most compelling articles reported across HW Media. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Elissa Branch. If you have a pitch or an inquiry relating to podcasts, you can reach our team at alloyd@housingwire.com.

This Week in Startups - Audio
Zillow falls after iBuying collapse, Biden Admin's stablecoin report + LeadIQ's Mei Siauw | E1318

This Week in Startups - Audio

Play Episode Listen Later Nov 3, 2021 84:49


Jason reacts to Zillow's huge drop after the implosion of their iBuying business (4:33), and breaks down the Biden Administration's stablecoin report (23:35). Then, LeadIQ CEO Mei Siauw joins the show to talk growing a SaaS business with a distributed team, going from $500 to $10M+ in revenue, and more! (43:27)

Just Swingin' It
Capital Expenses vs Operating Expenses

Just Swingin' It

Play Episode Listen Later Nov 3, 2021 80:27


Welcome back to another edition of "Just Swingin' It." On today's episode Fat Baby teaches the differences between "operating expenses" vs "capital expenses." We discuss Zillow's failed iBuying experiment, hop into market peformance, discuss rising yields effects on interest rates and inflation, and cap it off with a discussion on the Metaverse, all this and much more within. Be sure to do your HW and share this podcast with at least 5 friends. Like.Rate.Review.Share.Subscribe.Comment.GetInvolved. Keep Swingin' It!! Follow Us At: Official: @Swinginit (Twitter) Fat Baby Funds: @fatbabyfunds, www.fatbabyfunds.com Chris: @chrismcbride_12 (All Platforms) Jon: @burrellinvests (Twitter) If you know someone that is an experienced/beginner trader, or is in finance, business, or real estate that you think fits our show email us their information at keepswinginit@gmail.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/justswinginit/support

Snacks Daily

Squid Game… the cryptocurrency. It's a new coin and a new scam that's basically the Fyre Fest of crypto because it surged 40,000% and then fell 40,000%. Under Armour jumped 14% because it's finally brushed off its Bargain Store Blemish. And Zillow stock plummeted because ya simply can't scale a house. $UA $RL $Z Want a shoutout on the pod? Fill out this form: https://forms.gle/KhUAo31xmkSdeynD9 Got a SnackFact for the pod? We got a form for that too: https://docs.google.com/forms/d/e/1FAIpQLSe64VKtvMNDPGSncHDRF07W34cPMDO3N8Y4DpmNP_kweC58tw/viewform Learn more about your ad choices. Visit podcastchoices.com/adchoices

At Home With Jonathan Osman
Zillow Shuts Down Its Fix and Flip Business

At Home With Jonathan Osman

Play Episode Listen Later Nov 3, 2021 27:31


Real estate search site Zillow announced today that they are shutting down their iBuying business effective immediately, laying off 25% of their workforce and selling 7,000 homes in their inventory to institutional investors. We look at the implications of their announcement and how it may impact the Charlotte real estate market From Bloomberg "Zillow shuts down home flipping business after racing up losses"

Arizona's Morning News
Zillow's real estate strategy backfires in Phoenix

Arizona's Morning News

Play Episode Listen Later Nov 1, 2021 4:27


Jim Sharpe and Jayme West discuss Zillow's iBuying failure in Phoenix and what it could mean for the Valley's real estate market.  See omnystudio.com/listener for privacy information.

Stock Club
Zillow Hits The Brakes On iBuying

Stock Club

Play Episode Listen Later Oct 22, 2021 27:03


Despite being the fastest-growing segment of its business, Zillow has now paused all home buying until the end of the year. Is this a Zillow problem or should we be worried about the wider real estate market?   In this episode, we also discuss: Facebook's plans for a metaverse and our suggestions for its new name. The potential of Tesla's Texas insurance product. And the two company earnings we're most looking forward to seeing — Teladoc and Bumble. If you want to catch up with all the latest stuff in MyWallSt, just tap here to start your free trial. MyWallSt operates a full disclosure policy. MyWallSt staff may hold long positions in some of the companies mentioned in this podcast.

Industry Focus
Headline: A Deep Dive Into Compass

Industry Focus

Play Episode Listen Later Sep 21, 2021 23:48


In this week's episode of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, take a closer look at real estate disruptor Compass (NYSE: COMP), which went public earlier this year. Hear Jason and Matt talk about what compass does, its strengths, the management team, and whether it can have a bright future even as iBuying gains traction.