Bryan Buys Houses

11/04/2021

Have you heard? Zillow's IBuying houses business just bit the dust. After losing more than $420 million in the last 3 months they have decided to close their house-buying department for good. Just goes to show how intricate this business is. You can't depend on an algorithm only. Especially one that depends on the appreciation of a property. Every smart investor knows you don't buy for appreciation but for what the actual value is now, what underwriting is willing to fund, and a few other things that tweak the offer and make it specific per property. Also, this is a people business, not a computer business. I wonder if any other IBuyers are going to go under as this market cools.

The real estate website had been relying on its algorithm that estimates home values to buy and resell homes. That part of its business lost about $420 million in three months.

10/27/2021

Oh not good at all. Zillow was buying houses above market value. Good for the sellers but bad for the market because they now have to sell them at a discount. Goes to show, buying houses can be a complicated process at times. My mentor always says this about our profession. "You make money when you buy the house not when you sell."

Faced with the fastest-rising real estate prices in U.S. history, Zillow Group Inc. tweaked the algorithms that power its home-flipping operation to make higher offers.

10/27/2021

The fall slow down is possibly upon us. Seeing a lot of reduced prices from fellow Realtors and Investors on their properties. Then this, Zillow stop buying houses for the year? What do they know that they are not sharing? Is the bubble about to pop?

(Bloomberg) -- Zillow Group Inc. is taking a break from buying U.S. homes after the online real estate giant’s pivot into tech-powered house-flipping hit a snag.Most Read from BloombergGoogle’s Biggest Moonshot Is Its Search for a Carbon-Free FutureThe Biggest Public Graveyard in the U.S. Is Bec...

10/27/2021