Zillow phoenix code#

The local realtor Greg Corbett of HomeSmart recently did an analysis of active listings in Phoenix and found that more than 12% of listings in the area were held by three iBuyers: Zillow, Opendoor, and Offerpad.Īnd those other buyers aren't suffering the same setbacks as Zillow. A lot of comps make it easy - at least, in theory - for the algorithms used by these firms to predict winning offers and profitable sales prices. Phoenix is the center of iBuying because its year-round sunny weather, active local economy, and homogenous housing stock lead to many reliable comps, or comparable sales. But even as Zillow pulls out of Phoenix - losing millions of dollars in the process - other iBuyers in the area could still hold on to a sizeable portion of market if they avoided Zillow's mistakes. The home that Scott sold at a significant markup is likely back on the market for much less than Zillow snagged it for. Signs that the company has significantly overpaid for homes in recent months have emerged: An Insider analysis found that out of the 224 homes Zillow was selling in Phoenix, 208 - a staggering 93% - were listed for less than the company paid. The shuttering came after Zillow paused homebuying last month, citing a significant backlog of homes in its portfolio amid challenging labor- and construction-market conditions. Zillow announced on Tuesday that it would close down Zillow Offers and lay off one-quarter of its workforce, about 2,000 people. The windfall Scott rejoiced over may not happen again. 'We sold them the property for $535,000,' he told Insider. Zillow's iBuying unit, called Zillow Offers, was 'very aggressive' and exceeded his expectations, he said. Scott shopped the property around to a number of instant buyers, or iBuyers, a group that includes big firms like Zillow, Redfin, Opendoor, and Offerpad, which offer cash for homes and close on them quickly.

But locals say competition for homes in Phoenix will remain fierce thanks to Zillow and its rivals.įloyd Scott, a real-estate broker with Century 21, recently estimated that one of the Phoenix-area homes he was marketing would sell for $480,000 or $490,000.

A staggering 93% of Zillow-owned homes are for sale in Phoenix for less than Zillow paid.

Zillow shuttered its iBuying arm this week after snapping up homes across the country.

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Zillow phoenix code#

It's so simple to find the best real estate deals in your area with : It's one easy search!Īnd that search can be performed at the state, county and city levels – even the exact address and/or zip code – so that your house hunt hits the ground running. At, we target low-priced distressed deals – bank-owned homes, government foreclosures (Fannie Mae, Freddie Mac, HUD, etc.) preforeclosure listings, real estate owned (REO) properties and foreclosure auctions, among others – and pass them (and huge savings) onto smart homebuyers (that's you!). That's because competition drives prices up. Foreclosure Homes Near Me delivers the best real estate deals first, well before they hit the mass market.Īs you know, perfect timing – not just 'location, location, location' – is critical when it comes to purchasing a new home and/or investment property at the right (lowest possible) price.