Get Real, Average Turkey
A report from Bloomberg on New York. "Manhattan luxury-home sales had their best week of the year. The second-priciest home to find a buyer was a limestone mansion owned by financier Phil Falcone, at 22 E. 67th St., on the…
Cutting Its Losses, Leaving Sellers Holding The Bag
A report from the Phoenix Business Journal. "Homebuyers across the country are furious with Zillow Group Inc for canceling contracts. Compounding the issue is the fact that many of these homeowners are waiting for their new construction homes to be…
When The Market Cools, Investors Actually Become The Pessimists
A report from WKRN in Tennessee. "A broken deal has left a Murfreesboro couple with a broken dream after a case of iBuying went bad. Zach Griest, Owner of Zach Taylor Real Estate, says his clients are upset, counting on…
Million-Dollar Condos With Ten-Dollar Views
A report from News Corp on California. "The secluded longtime home of Arnold Schwarzenegger has hit the market, with $15 million (US$11m) price hopes. In 2013, the house was sold for US$12.9 million. The home is now being sold by…
Entities Who Are Currently Attempting To Stave Off Their Creditors
A report from the LA Daily News in California. "Since 2000, U.S. inflation has averaged 2.2%, according to the Consumer Price Index, while rates on 30-year mortgages averaged 5%, according to Freddie Mac. So historically speaking, loans are usually priced…
We Caused A Boom, And Now We’ve Got To Try To Avoid A Bust
A weekend topic starting with BBN Times. "The amount of wealth in an economy should be related to the amount of income. For example, wealth in real estate will be linked to the income that people have available to pay…
Some Folks Just Stepped Back And Said, What Are We Doing?
It's Friday desk clearing time for this blogger. "Southern California's cutthroat housing market has cooled in recent months. Price drops became more common. 'We were expecting at some point this buyer frenzy is going to cool off. We are seeing…
It’s Been One Wild House Party — That Might Be Over Now
A report from the Daily Democrat in California. "Tom Doyle bought a house in southwest Woodland for $675,000 last year in October. Doyle said that his family had been paying attention to the housing market, but it is very different…
People And Companies Have Never Been So Leveraged
A report from Verify. "In the summer of 2021, the market started to slow down. However, Zillow Offers according to Mike DelPrete didn’t slow down with the market. 'What happened is they ended up buying a lot of houses and…
Previous Investment Logic Has Collapsed
A report from the Colorado Sun. "The collapse of Zillow Offers can be traced, in one small part, to its over eagerness to invest in Colorado’s red-hot real estate market. The company bought hundreds of homes in the Front Range…