Demography is destiny, and nobody knows that like the hopeful seller of a six-bedroom home. Is that seller an iBuyer? Danged if it ain’t! But no one hopes like a note-holder – and yet there is no reason to project moral hazard in any direction except catastrophic, and iBuying promises to make that all worse: […]
It’s not really hard to choose, it’s just pointless – for now. The average American is slightly above average, and OfferPad was slightly less awful, in its second-quarter 2019 metro-Phoenix closings, compared to OpenDoor and Zillow. I told you they were a comer. Meanwhile, I’m still not in love with my monthly numbers, so I […]
When I proposed The Phoenix iBuyer Averages, Brian Brady said, “That is detailed data.” I said, “Very easy.” Turns out we were both right. A chart like that is easy for me to scare up in Google Sheets, but I want for iBuyer Averages to propagate nationwide, in every city iBuyers operate in, now and […]
DOOP is death, we’ve established that. I’ve known for months that the iBuyers either don’t know or don’t care that money costs money, but it does, regardless. And as soon as you account for the cost of money in iBuyer transactions, all of the imagined profits go up in imaginary smoke. Every other flipper knows […]
What’s every bad Realtor’s best friend? Starvation. When you suck at real estate, your stomach will find a way to convey that fact to you, even if you deny every other evidence. Zillow should be so lucky. When you have unlimited funding, as the iBuyers do – for now – you lack the motivation to […]