with zillow shutting down it's home purchasing division, it seems there is a LOT of "I told you so", rightfully so. It was extremely interesting seeing all of the people posting about Zillow offering a significant amount more than actual market value, with way easier closing and lower fees. Personally, I thought it was a marketing technique… I was wrong. Those of us who read this forum often can see that while we couldn't have exactly predicated this (and the 20% plunge in stock price), we also aren't exactly too surprised either.
Next up is OpenDoors quarterly report coming Nov 10th. Their stock dropped today due to skepticism surrounding the ibuying market in general.
Those of you who have experience with them, what do you think of their business model compared to Zillows? More sustainable? Less ridiculous pricing? Do we think it's going to get tanked?
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