Zillow is closing down its iBuyer business, Zillow Offers, after buying too many homes at too-high prices this summer, even as residential real estate markets nation-wide cooled down from their white-hot spring highs.
Facing staffing shortages and supply chain problems, Zillow says its Zillow Offers iBuyer service won’t sign any new contracts to buy homes through the end of the year.
Couple skyrocketing construction costs with the end of COVID-19 mortgage forbearance, the end of the eviction ban, plus the oldest Baby Boomers turning 75 this year, and inventory increases may occur much sooner than anyone anticipates.
RedfinNow, Redfin’s iBuying service, recently entered the red-hot suburban Boston housing market. But the move’s biggest impact, for now, could be to boost the discount brokerage’s market share among open-market home sales.
Discount brokerage Redfin is bringing its iBuyer service to suburban Boston, marking the first expansion of a national iBuyer service to a region that many had previously avoided due to its widely varied housing stock.
William Raveis Real Estate has become the latest brokerage to launch an iBuyer-like service in Massachusetts amid the tightest single-family housing market in living memory.
With a hot spring market fast approaching and few new home listings in sight, many sellers’ agents are struggling to fill their pipelines with homes. Here are some tips that can help.
Researchers at Redfin, the discount brokerage and listings website, say iBuyers bought 48 percent fewer homes in the last quarter of 2020 than they did a year earlier.
The launch of HOMERedi makes Jack Conway part of a growing cohort of real estate brokerages, including Compass and Coldwell Banker, willing to temporarily foot the bill for home improvements that keep housing stock moving and fetching higher prices.
Even as some iBuyers across the country have paused operations thanks to the coronavirus outbreak, one firm with a similar model is continuing operations, albeit remotely.
An influential group of multiple listings service operators from around the country warn “the multiple listing service as we know it is in jeopardy,” but many Massachusetts real estate agents aren’t so sure.
Four months after receiving $1.4 million in seed funding, a Boston-based real estate app developer is opening a San Francisco office to spearhead West Coast expansion.
