Kim-Mai Cutler via TechCrunch
“Before you start worrying about real estate speculators, OpenDoor is launching in three markets outside of California and is only for owner-occupied homes. Co-founder Eric Wu did not specify which markets, but he said the company is more concerned with markets where there isn’t a lot of liquidity or demand.”
“In contrast, Wu said the rest of the $20 trillion U.S. residential real estate market is one of the least liquid kinds of markets even though it represents such a vital kind of asset to Americans across the country. He argues this lack of liquidity ties people to debt and jobs or locations that may not benefit them anymore. Real estate transactions often take more than 90 days and homeowners often don’t have enough capital for a down payment or a mortgage, which makes home buying stressful.
Wu didn’t go into how the product will work, because it has yet to launch.”
I’m must be missing something. Just because you make it easier to buy a turd, doesn’t mean people will start buying lots and lots of turds.
UPDATE: 2/10/24 – Drew Meyers of GeekEstate Blog has a few ideas of how this might work. – And I still don’t get it.
Builder Homesite, Inc.
BUSINESS DEVELOPMENT MANAGER
“This is an exciting opportunity. New construction homes represent 10% of the residential real estate market, yet most agents and brokers do not have easy online access to all available new home inventory.”
To find out more please visit the Vendor Alley Jobs Board.
Director, Category Management (Online Product Marketing)
“In this critical role, reporting to the SVP of Category Management, you will lead category management for our mortgage, lending and related services businesses. You will spend time directly with our audience (renters, home buyers pre-sellers/sellers and home owners) and end-advertiser and strategic partners to better identify, satisfy and connect audiences with the professionals who can service them”
See more details on the Vendor Alley Jobs Board
Word on the street is that the Washington State Superior Court has granted MOVE and NAR a preliminarily injunction against MOVE and Errol Samuelson relating to misappropriations of trade secrets.
More details soon…
Have you checked out NuOffer yet? Super cool iPad app created by LA real estate agent, Imraan Ali.
“NuOffer is the first mobile app that lets real estate agents write complete, binding, and secure offers in five minutes on tablet or laptop. By making all necessary property data and transaction forms accessible within the application, NuOffer lets agents spend more time focusing on the terms of a deal, not the paperwork.
Founded and angel funded by real estate agents, NuOffer was developed by Imraan Ali and Kevin Hincker to satisfy their frustration with the time involved in putting together even the most straight forward real estate offer.”
I really love the design of this app. They’ve really done a great job of complementing the tablet form factor with a software experience that is both useful and fun to use. Very rare to seen this done so well.
The bummer of course is that NuOffer is currently only available in Texas. Many states won’t license their real estate forms to third party software vendors like NuOffer. DotLoop famously got it to a bit of kerfufle with C.A.R. over the use of their forms. This app is so far ahead of any of the proprietary solutions available that its a shame that it will most likely be shut out due to politics.
Greg Zadel posted this on Facebook today.
“Friends of Pat Bybee, when Pat was killed, two souls were taken. Vern is now back with “his bride”. Officially an abdominal thing, but in reality a terminal broken heart. May they both rest in peace together.”
The rumors started last week. A glitch on Facebook is what some thought. Then my DM Twitter feed starting blowing up. “Is he gone?”, “Is Russ out at MRED?” Then the Vendor Alley Tip Line starting lighting up. “Russ is out. Russ is out.”
A returned text message, confirmed it. Russ had resigned from MRED.
Nobody knows all the details. Inman News regurgitated an email he sent out to some of us.
But, lets face it. Its amazing Russ was able to accomplish what he did at MRED. MLS politics in Chicagoland are infamous, not to mention you are right in NAR’s backyard. When he first got the gig I was a bit surprised. Russ has never been afraid to express his opinion. Who doesn’t perk up when they hand Russ the microphone at an industry event? You know something good is coming.
Chicago seemed an odd match for an CEO who spoke his mind.
But it’s all speculation at this point. Fact is the reason Russ spoke his mind is very simple. He cares. And that my friends, is a good thing.
And I look forward to when Russ decides to step up to the microphone once again.
The Motley Fool:
“I recently wrote a Motley Fool article Why Investors Who Like Zillow Should Love CoStar Group, for investors interested in the fast growing real estate technology space. It was syndicated a few days before rumors and reports began circulating regarding Trulia, (NYSE: TRLA ) acquiring Move, (NASDAQ: MOVE ) , operator of Realtor.com.
My article concluded with an observation that CoStar Group (NASDAQ: CSGP ) — rather than Trulia — would be a great marriage. Here is a quick chart that shows at a glance why Move, looks like a bargain for the other major players in this space:”
‘Coming soon’ listing strategies are so last year
Teresa Boardman Inman News Contributor
“Now that the market is shifting a bit, the prelisting system is still out there. But the rest of us no longer see it as a threat — more like an agent or client recruiting tool, or just a sleazy marketing tactic.
Real estate is local and the national websites just cannot keep up with the local trends in each market. In some markets, “coming soon” is a big deal.
But I think it is safe to predict that eventually something else will become the next big thing in real estate marketing.”
Sami Inkinen (co-founder of Trulia) and his wife Meredith are on Day 9 of their “fight against the silent killer, sugar”, dubbed Fat Chance Row. They raised over $200,000 for their cause. With 2,224 miles to go their “divorce meter is still at zero”.
I gotta say that now they are underway I’m completely rooting for them. I can’t imagine what they must be facing. How crazy would it be if they pulled it off?! What do you think?