2,436,099
Maybe they should buy a lottery ticket.
-
Candice A. Donofrio
Fort Mohave, AZ
-
Pete Xavier
Pacific Palisades, CA
-
John Juarez
Fremont, CA
-
Olga Simoncelli
New Fairfield, CT
-
Buzz Mackintosh
Frederick, MD
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
1,543,823
Well...
-
Andrea Bedard
Silver Spring, MD
-
John Juarez
Fremont, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Greg Large
Grove City, OH
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Pete Xavier
Pacific Palisades, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Joan Cox
Denver, CO
4,693,341
Makes me happy to hear about companies that rip people off not doing well themselves.
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Candice A. Donofrio
Fort Mohave, AZ
-
Lyn Sims
Schaumburg, IL
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Pete Xavier
Pacific Palisades, CA
2,390,620
Funny that number should come up Caroline Gerardo , I think I got it covered with my next Powerball ticket. 😉
-
Pete Xavier
Pacific Palisades, CA
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Joan Cox
Denver, CO
-
Brian England
Gilbert, AZ
3,125,842
Those who ride the fun wave of an up market with wild abandon will eventually be pulled under. ~ Wanda Kubat-Nerdin c-2022
You can quote me on that!
-
Derrick Guevremont
Rochester, MN
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Pete Xavier
Pacific Palisades, CA
953,617
"Using technology to buy and sell", I guess their proprietary technology Failed! Further proof that the iBuyer model isn't bulletproof.
No fear, just stay clear of ticker "OPEN" on the Nasdaq. It's not a good investment, it's more of a gamble. In February '21 it had a high of about $28./per share, it's now down to about the price of a Two Buck Chuck at Trader Joe's.
Curious about Zillow? In February '21 it reached a high of a little more than $161./per share, this past Friday it had a closing price of $32.52/per share.
-
Derrick Guevremont
Rochester, MN
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Nina Hollander, Broker
Charlotte, NC
-
Joan Cox
Denver, CO
-
Carla Freund
Raleigh, NC
-
Brian England
Gilbert, AZ
-
Wanda Kubat-Nerdin - W...
St. George, UT
5,104,931
What Pete Xavier said! I saw this coming a long time ago. It's not a sustainable model the way they were throwing money at homes. Zillow shut their operation down, as well.
-
Derrick Guevremont
Rochester, MN
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Pete Xavier
Pacific Palisades, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Joan Cox
Denver, CO
901,535
It will be interesting to see what happens over the next several months. They were fined $62m for deceiving people. That seems like a drop in the bucket compared to what they lost. People have invested in other RE online portals after years of losing money. We'll see if this is any different.
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Candice A. Donofrio
Fort Mohave, AZ
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Joan Cox
Denver, CO
-
Pete Xavier
Pacific Palisades, CA
628,814
A recession always seems clean out the limited service models from the industry.
-
Derrick Guevremont
Rochester, MN
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
3,587,960
Well that isn't surprising to me at all. I've been watching their buys and sells here for a long time and the handwriting was on the wall. Buy high and sell low. Duh.
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Candice A. Donofrio
Fort Mohave, AZ
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Pete Xavier
Pacific Palisades, CA
5,049,450
Hmmm. Might there be a problem with the business planning?
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Candice A. Donofrio
Fort Mohave, AZ
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Kris Collis, Associate...
East Stroudsburg, PA
1,052,211
🎵 Tell me what I say!🎵
We're not replaceable, even by the best technology.
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Lyn Sims
Schaumburg, IL
-
Pete Xavier
Pacific Palisades, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
911,338
I doubt if too many companies that lose a billion dollars in one quarter can survive for very long.
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
5,216,409
If you buy high and sell low, pretty soon you have no dough! Not a great business plan.
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
6,393,494
Glad I am not one of their investors.
-
Derrick Guevremont
Rochester, MN
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Andrew Mooers | 207.53...
Houlton, ME
1,502,998
That's a big number.
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Brian England
Gilbert, AZ
3,345,091
OUCH !!!
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Kathleen Daniels, Prob...
San Jose, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
5,868,554
I am not surprised, they offered Sellers amounts way over fair market value. When they sell, they start high, and decreasing sales price. Their homes are on the market for many days longer. They are still advertising on the radio.
-
John Juarez
Fremont, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Pete Xavier
Pacific Palisades, CA
417,221
-
John Juarez
Fremont, CA
-
Carol Williams
Wenatchee, WA
-
Candice A. Donofrio
Fort Mohave, AZ
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Brian England
Gilbert, AZ
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Pete Xavier
Pacific Palisades, CA
1,844,301
Read an article yesterday about their buyers were duped (or just didn't understand) what they were getting into.
I'm not sad at all.
-
Candice A. Donofrio
Fort Mohave, AZ
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Pete Xavier
Pacific Palisades, CA
5,230,113
I believe it, and in fact, called it a long time ago! Now they are partnering with Zillow. #DesperationIsSettingIn
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
John Juarez
Fremont, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Anna "Banana" Kruchten
Phoenix, AZ
-
Pete Xavier
Pacific Palisades, CA
-
Joan Cox
Denver, CO
2,781,173
Paper money losses comes and goes. The big picture, getting lucky and cash flow still remains. Also, many attempt to reach for the next twitter, Facebook and tik-tok hoping to score. When they don't, losses are reported.
-
John Juarez
Fremont, CA
-
Richie Alan Naggar
Riverside, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Bob "RealMan" Timm
Minot, ND
1,311,397
Too bad for the disruptor getting disrupted.
-
Derrick Guevremont
Rochester, MN
-
Candice A. Donofrio
Fort Mohave, AZ
-
Pete Xavier
Pacific Palisades, CA
-
Joan Cox
Denver, CO
1,556,633
What do I say? GOOD NEWS! I've been following a couple of nationwide real estate franchisors and their stock price has been in the toilet-- one is down 75% and the other is down 80%!
-
Derrick Guevremont
Rochester, MN
-
Joan Cox
Denver, CO
-
John Juarez
Fremont, CA
-
Kathleen Daniels, Prob...
San Jose, CA
337,854
I spent many years working in a variety of areas of investment banks including multiple areas of risk management/modeling/reporting prior to moving into real estate. As soon as I heard of these iBuyer programs- I expressed concern that they really were not comprehending the risks they were taking on. These iBuyer programs weren't likely to move into my market- so we didn't have to deal with them but we did stand back to watch this experiment in motion. That said, with a Blood in the Streets mentality (perhaps a bit early- maybe just a bloody nose for now- with more rate hikes coming it may be inevitable)- then I can actually see a risk on approach.
That said- Real Estate might not return to the low risk investment it has traditionally been as the investment world is always looking for a new quick addictive drug fix. One of the owners in my building was asking me if insurance company's offer policies against new expensive regulatory compliance requirements for small buildings. My response was no, but the derivatives structurer in me was salivating at this idea. MMMM....I bet I could create a derivatives market (yes I started my career out of college at AIG, no it wasn't the same group as the one that brought down the economy back in 2008...at least not until several years after I left- and the two AIG derivatives trading firms merged).
-
Debe Maxwell, CRS
Charlotte, NC
-
Caroline Gerardo
Newport Beach, CA
-
Pete Xavier
Pacific Palisades, CA
2,061,814
Couldn't happen to a better business model.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
921,504
As we all followed the outcome of Open Door listing, sold at less than aquisition costs, I sure we all mareled how they have lasted this long.
There remains many predators out their to take advantage of the uninformed and desperate.
However, it is useful to keep track of the alternatives that ARE having success. The recent Blackstone acquisition of Home Parners of America suggests the alternatives they offer is getting traction, is below the radar and will prove hugely detrimental to the housing marketplace. They are below the radar and sucking more executives' homes into the rental pool to add to Blackstone's portfolio of bread-and-butter single-family homes.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
1,076,551
It's easy to run a business burning through billions of OTHER people's money.
It's difficult to run an efficient, good, or lasting business that way...
Real estate FinTech has been one of the easiest ways to set money on fire. Second perhaps only to government spending.
-
Candice A. Donofrio
Fort Mohave, AZ
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
634,531
While I don't usually like to celebrate the failures of others, I was admittedly quite happy to hear this news. It's never been a more critical time than now for real estate & mortgage professionals to sharpen their skills and fight back against these iBuyer platforms.
-
Derrick Guevremont
Rochester, MN
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
1,196,798
WOW! Maybe they used it to buy Powerball tickets
-
Joan Cox
Denver, CO
-
John Juarez
Fremont, CA
-
Kathleen Daniels, Prob...
San Jose, CA
763,883
It's great to see the bully get beat up.
-
Derrick Guevremont
Rochester, MN
-
John Juarez
Fremont, CA
-
Jason E. Gordon
San Diego, CA
406,760
A company despised by professionals because of their nonchalant arrogance which suggested we had become irrelevant. Kind of like homeowners just using a “Zestimate.
-
Debe Maxwell, CRS
Charlotte, NC
-
Pete Xavier
Pacific Palisades, CA
1,197,152
Thanks for sharing, bad business plan.
-
John Juarez
Fremont, CA
-
Debe Maxwell, CRS
Charlotte, NC