“Every new critter at the pet store is allegedly ‘the new dog’. Hold your breath. Dogs and honest brokers come home with dinner when everyone else goes home hungry.”
Mine are the opposite: The iBuyers are terrible marketers. They buy low from idiots, but they have cultivated a whole new garden of flippers who will pay more – and who have the iBuyers’ marketing to attract sellers. But to this day, the sell like REO agents – like intern REO agents: They do everything they can to leach the marketing value from their marketing efforts.
I’ve bitched about this before, in detail, but here’s a current example: OpenDoor has a listing on Coggins Drive in Sun City. A couple of months ago, a good gust of monsoon wind grabbed their yard sign and twisted the post 45 degrees in the ground. Yes: That much wind. Note also: Months ago. What’s fun is that the sign is still tilted that way. Nobody serviced the sign because nobody services the listings – the listings that sit on the market forever, just like any mis-marketed REO.
My take: If you got beat by an iBuyer, you suck and you belong in another business. They do, too, but there is no point in you racing them to bankruptcy.
In other news:
MarketWatch: Viral TikTok accuses Zillow and competitors of manipulating the housing market. Here’s what’s really going on.
Housing Wire: New home sales rise for second consecutive month.
City Journal: Ending Homelessness? No – just more of the same federal policy.
Michael Fumento: The Myth of ‘Long COVID.’ For all the twists and turns of the COVID-19 pandemic, perhaps none is stranger than so-called “Long Covid.”
Andrea Widburg: A look at the terrible plight of one of Biden’s political prisoners.
Townhall.com: New Report: More Americans Are Choosing Charter Schools Over Failing Government Schools.
