Tag Archives: mike delprete

Zillow shooting for 7,000 home sales at $2.8B after iBuying pause: Report

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The news comes just weeks after the company announced a pause in its iBuying, and follows reports that it was underpricing homes in a number of cities. Continue reading →

Zillow’s iBuyer misstep will soon be ‘a distant memory’: Mike DelPrete

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Within the context of long-term industry disruption, Zillow’s loss may simply be an embarrassing detour on its inexorable march to transform real estate. Continue reading →

Missed signs? Zillow’s pause on buying underscores scaling challenges: Mike DelPrete

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The current problem seems to be unique to Zillow. Other iBuyers saw the signals and made adjustments while Zillow kept on buying; either it missed the signs or proceeded anyway. Regardless, it’s a timely reminder that growing an iBuyer business is chal… Continue reading →

Zillow hits brakes on buying new homes for remainder of 2021

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Zillow said labor and supply issues in the market have created an “operational backlog for renovations and closings.” The pause will enable the company to catch up on its existing contracts. Continue reading →

Compass stock, market cap tumbles to new low

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The company’s shares ended Monday trading at $10.74, down significantly compared to when they debuted about six months ago. The drop reduced Compass’ valuation to $4.2 billion. Continue reading →

Compass decline in value stands in contrast to its growth: DelPrete

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Compass’ growth over the past three years has been remarkable. It is one of the fastest growing real estate brokerages of all time — yet its stock price continues to decline. Continue reading →

Opendoor boosts homebuying power with $9B borrowing limit

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In a Securities and Exchange Commission filing on Oct. 4, Opendoor revealed it has entered into an amended mezzanine debt facility with a $3 billion limit. The amended mezzanine debt facility will bridge the gap between Opendoor’s debt and equity finan… Continue reading →

Redfin CEO, Zillow pour cold water on TikToker’s iBuyer theory

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A recent viral video suggested iBuyers could jack up the prices of homes. But one expert called the theory “fairly conspiratorial,” and iBuyers themselves said they still have a tiny share of the market. Continue reading →

Real estate disruptors get serious about mortgage — and vice versa: Mike DelPrete

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Real estate tech disruptors are investing billions to build integrated brokerage and mortgage experiences. Some have more resources than others, but all have the same scaling bottlenecks. And in the end, the biggest disruptors — and who is most at risk… Continue reading →

Falling home price appreciation threatens iBuyer profits: DelPrete

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IBuyers are closer than ever to profitability. But the overwhelming majority of profits are coming from record home price appreciation, which is temporary and appears to be falling.
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