November 11, 2024

7,000 Homes for Sale – Zillow to Sell for $2.8 Billion

7,000 Homes for Sale - San Diego 4Br. home for sale

Zillow is said to be seeking roughly $2.8 billion for about 7,000 houses it owns in it’s house flipping operations.

7,000 Homes for Sale

Zillow, is said to have a housing surplus and is looking to sell up to 7,000 homes. After buying up too many properties over the summer, Zillow is looking to recover about $2.8 billion from the sales. Last month, Zillow put a freeze on continues home purchases, and now it looks like they want to sell off about 7,000 of it’s home to rise cash.

Yesterday, Zillow said that it’s exciting Offers, its business that buys and flips homes, and eliminating 25% of its workforce!

Zillow CEO Rich Barton said in a news release: “We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated, Continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.” “We just determined that being an iBuyer was too risky, too volatile and ultimately addressed too few customers.” Barton added that, in closing the business, “the logic is clear, the emotion is difficult” because of the layoffs.

According to research from YipitData, Zillow put a record number of homes on the market in September, listing properties at the lowest markups since November 2018. Also, YipitData reports that Zillow also cut prices on nearly half of its U.S. listings in the third quarter, signaling that its inventory was commanding prices lower than it expected.

There are many opinions as to why Zillow is getting out of the house flipping business. For me personally, I believe this is a major red flag for the entire real estate market. Yes, I think Zillow knows that are wild real estate residential home appreciation has flattened out and is about to turn, in what I believe will be a dramatic depreciation in home values across the country. So, it would seem that Zillow, with billions of dollars tied up in residential property inventory, wants to unload these homes before the downward trend becomes evident to the General Public.

#######

San Diego Real Estate Website for sale

www.brokerforyou.com        *** This 23 year old San Diego real estate website is for sale! Also, aged real estate sites in many California cities are for sale.

Over 33,444 average monthly unique visits to Brokerforyou.com in the last three months.

*NO you are NOT just getting a super San Diego URL, but, 23 years of great San Diego centered residential real estate content! Plus, great search engine rankings and most important, a HUGE amount of unique monthly visitors! If can’t see the very unique potential, perhaps you should save your time and NOT review the information below.

San Diego real estate for sale

www.brokerforyou.com is 23 Years old! The vast majority of search engine professionals agree that the age of a website is an important factor in the Google algorithm.

There is also another undisputed factor in the ranking of websites. That factor, is the amount of unique specific content published on the website. So, it’s pretty hard for a two year old or a five-year-old or for that matter a 10-year-old website out rank a 23-year-old website that has 2 to 4 times the content.

San Diego real estate opportunity – www.brokerforyou.com is for sale! if your real estate broker in San Diego California or thinking of expanding your brokerage business into San Diego, purchasing www.brokerforyou.com to give you a huge boost in becoming a player in the residential San Diego real estate market.

Sure as a real estate professional in San Diego California, you most probably have a website. But take a look at it take a look at the traffic you’re generating from that website. From my own analysis the majority of San Diego real estate websites just generate a couple of hundred unique views per month. To even have a chance of gaining one new client you need tens of thousands of unique views.

Brokerforyou.com is for SALE

Just like most major businesses, the easiest way, and the fastest way to expand your business and influence in your particular market is through strategic acquisition. Just look at Google, they are the number one search engine in the world! Google bought Youtube in November 2006 for US$1.65 billion – YouTube now operates as one of Google‘s subsidiaries.

www.brokerforyou.com is for sale and is offered with a very popular San Diego residential real estate channel with 1.17K subscribers and 97 videos!!

Interested, call Bob Schwartz (619) 286-5604 for additional information