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Q2 standing for iBuyers homes purchase
COVID-19 caused these iBuyers to pause purchasing for a few months The second quarter was a tough one on iBuyers, as only 0.1% of the homes sold across 418 metros — only 880 homes total — were purchased by top iBuyers Redfin, Zillow, Opendoor and Offerpad, according to a report by Redfin. That’s a drop of 88%...
Opendoor could debut $5B valuation
Social Capital founder's blank-check company is reportedly in "advanced talks" to merge with iBuyer Opendoor, the largest instant home buying platform in the country, could debut on the public market at a $5 billion valuation, according to a new report. Chamath Palihapitiya’s Social Capital is in talks to use one of his...
Home Swap solution is now available in Houston
Knock has added Houston to the list of Texas metro areas where its Home Swap solution is available, joining Austin, Dallas/Fort Worth and San Antonio, as well as three other markets nationwide. This solution is offered exclusively through local real estate professionals who were trained as Knock Certified Agents. In this case, Knock is partnering...
Zillow Offers launched in Jacksonville
Jacksonville is now the iBuyer's 25th market Zillow launched its iBuying solution, Zillow Offers in its 25th market Wednesday morning: Homeowners in Jacksonville, Florida can now sell their home directly to Zillow. In early March, Zillow said it had plans to expand in Jacksonville and Oklahoma City this year. It looks like despite...
Find out how to avoid commercial property foreclosure
If you own property that's central to your business, or if owning and leasing commercial property is your business, then making those monthly mortgage payments may get pretty tough at times. When customers aren't coming in or when renters suffering the same problem can't pony up, the cash flow simply isn't there, and reserves can rapidly run dry.
Multifamily shifts in convenient features and healthy amenities
The home has always been important, but it’s safe to say that this year, the significance of the home greatly increased. Your place of residence is now everything — a home office, a home gym, a safe sanctuary for relaxation and leisure time and maybe even your children’s classroom. Due to the Covid-19 pandemic, virtually every aspect...
Lumber prices causing an increase in construction costs
Higher lumber costs are adding about $16,000 to the price of a new house, NAHB says The COVID-19 pandemic has caused lumber prices to skyrocket more than 160% since April after a spike in home renovation by cooped-up Americans, according to the National Association of Home Builders. Higher prices are adding...
Over half of Redfin's August offers went to bidding wars
Salt Lake City, Phoenix and Austin are seeing stiff competition For the fourth consecutive month, over half of home offers from Redfin faced a bidding war. Across the U.S., 54.5% of Redfin home offers faced competition in August, ticking down slightly from July’s 57.3%. To break it down further, the competition remained...
Tips in getting financial freedom for first-time real estate investors
The Covid-19 pandemic has left millions of people stressed over their finances. The unemployment claims have passed 40 million as more people find themselves in need of assistance. The challenges brought about by the pandemic are evidence that we need to figure out our finances. We need solutions that will cushion us from joblessness.  One solution...
Buyers purchasing power was affected by high home prices
Low housing inventory is to blame Home-buyer purchasing power increased 6.9% this July, meaning a homebuyer with a $2,500 monthly housing budget can afford a home priced $33,250 higher than a year ago, Redfin found, which it credited to historically low mortgage rates. But with home prices up 8.2% year over year in...
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