The Losses Reflected The Reckoning
A report from the News Press in Florida. "To date, the number of new listings that came to the Bonita Springs and Estero markets in 2021 was 270, which was higher than the 193 total listings that came to market…
Every Roller Coaster Eventually Returns To The Station
A report from the Oklahoman. "Prices for new homes are outpacing appraisals, busting purchase contracts if buyers and builders can't come to terms and fill the financing gap. Metro-area Realtors discussion mentioned appraised values for new homes falling short of…
They Were Slow To Reduce Their Price And They’re Having A Hard Time Selling
A report from the San Francisco Chronicle in California. " "As San Francisco approached the critical December shopping month, instead of holiday lights and Santa Claus decorations, dozens of downtown retailers greeted shoppers with plywood-encased storefronts and armed guards in…
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…
Clearly On The Brink And Sleepwalking Into Disaster
A report from the Telegraph. "For some American homeowners, one number is the most important indicator of wealth in their life: the Zestimate. When they do not like what they see, things can turn ugly. 'F--- Zillow and their ‘zestimates’.…
Reality Always Strikes!
A report from KTNV in Nevada. "Las Vegas realtor Daniel Mahabir said Zillow was active in Las Vegas. 'They very quickly, because of their platform, became the number two largest iBuyer out here in Las Vegas,' he said, 'and then…
If They All Suddenly Wanted To Exit At The Same Time, They Couldn’t
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,…
Angry Homebuyers Are Chanting, Give Us Our Money Back
A report from the Phoenix Business Journal in Arizona. "A former Coolidge real estate agent faces decades in prison after being convicted this month in a scheme that emptied a family friend’s savings of $185,000 amid promises to help the…
Investors Might Need To Offer Steep Discounts If They Want To Sell Fast
A report from Pleasanton Weekly in California. "Buyer behavior has shifted during the second half of 2021 and is likely to continue into next year said Tina Hand, 2021 president of the Bay East Association of Realtors. Hand said buyers…
A Striking Resemblance To Japan In The Late 1980s
A weekend topic starting with the Globe and Mail. "China’s housing woes have been exposed by the liquidity crisis at Evergrande. The collapse of the company is not being ruled out as Beijing cracks down on the excessive leverage that…