It's Friday desk clearing time for this blogger. "In early October 2021, Zillow recorded its most active week buying homes in Phoenix. Then suddenly it stopped buying. John Wake, who has been a realtor around Phoenix since 2003, had one…
It's Friday desk clearing time for this blogger. "As of Oct. 24, Zillow had 250 homes on the market in metro Phoenix that were on average priced 6.2% below what the company had paid for them, according to Greg Hague,…
A report from Fast Company. "When Zillow announced Tuesday that it was shutting down its algorithm-fueled home-flipping operation, few in Phoenix were likely surprised. Phoenix area real estate agent Greg Corbett had a hunch that the companies’ computer-assisted buying activity…
A report from 12 News in Arizona. "'The market started to cool and Zillow missed the off-ramp,' said Mike DelPrete, a real estate analyst. iBuyers are responsible for around 10 percent of all listings in the Phoneix market. One of…
A report from Market Watch. "KeyBanc analyst Edward Yruma completed an analysis of 650 homes in Zillow’s inventory, or about one-fifth of the homes owned, and found that 66% are currently listed below the purchase price at an average discount…
A weekend topic starting with the Columbus Dispatch in Ohio. "The people behind the Issue 7 green-energy initiative on Tuesday's ballot have remained largely secretive. Two of their leaders have been mired in major personal financial problems that have dogged…
It's Friday desk clearing time for this blogger. "The streets aren’t being easy on Zillow, which is reportedly losing money on homes it bought to flip, but are instead proving flops. The winners of the real estate fumble include seller…
A report from Gizmodo. "Zillow has been hemorrhaging cash in the home-buying arms race in certain markets. Bloomberg wrote: 'Zillow put a record number of homes on the market in September. It also cut prices on nearly half of its…
A report from Bloomberg. "No city exemplifies the mania of the Covid-era U.S. housing market better than Boise, Idaho. But in a sudden reversal, buyers are now the ones with power. Asking prices for houses are being slashed. Demand has…
A report from Reuters. "The stock of housing under construction increased 1.3% to a rate of 1,426 million units last month, the highest since February 1974." From Market Watch. "Zillow’s unexpected announcement this week that it’s putting a temporary stop…