“How can you tell the country is not being torn apart by rioting? Because Joe Biden is just fine!”Sorry if I seem to be beating a dead horse, but the refusal of the “real estate industry” to admit the existence of the riots while writing all about their secondary consequences is my kind of fun. […]
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If it’s not obvious, the big ugly question is my addition.Redfin is back with new disinformation about the current national state of housing turmoil. It turns out it is not just the pandemic that has incited this frenzied reordering of housing priorities. No. Forest fires are responsible, too. That is to say: Yet again: CTRL-F […]
“The hardest thing to know is when, precisely, to pretend not to know…”You got news? I got news: Present company excepted, the real estate industry seems to be terrified to talk about the riots. You know, the ones roiling the never-more-local real estate markets? Evidence abounds and none dare call it by its right name. […]
“Going up?”Big Think: Is it possible to build a mile-high skyscraper? Housing Wire: Bought right out of a job? When one OpenDoor closes… Opendoor announces merger with Social Capital Hedosophia Holdings Corp. in bid to go public. Forbes: Opendoor’s Cofounder Talks Covid, Growth, And The Quest For Profits As The Company Goes Public. Housing Wire: […]
“Don’t fence me in!”TribLive: Federal judge rules Gov. Wolf’s shutdown orders were unconstitutional. Reason: Federal Court Rules Pennsylvania’s Lockdown Order Unconstitutional. Upworthy: From England, but still: Security guards took care of employees’ office plants while they were on lockdown for months. Redfin: The biggest trend in real estate stories? Detailing the ongoing impact of the […]
“Ya think it’s easy?”Redfin: Everything about the iBuyers is funny, especially their Special Olympics approach to self-congratulation. Whose listings sell last and worst? But who is delighted to have had a national feeding frenzy to clear their overpriced inventories? iBuyer Activity Ground to a Halt in the Second Quarter, With Market Share Plummeting to 0.1%. […]
I love this image from Redfin: What is the name of the condition where people lie with their words but tell the truth with their deeds? Are there riots in America this Summer – despite the overwhelming public denials? Are those riots affecting real estate choices? Meanwhile: Who thinks that price trajectory is healthy? Yeesh! […]
“Yes, I’m taking a cut on the sale of an asset I didn’t have to buy, first. But you are getting a real estate marketing expert you don’t even have to pay for until I’ve already delivered the goods.”This has been a slow-rolling epiphany on the part of the iBuyers. I’ve snarked about it here […]
“Going down?”Is it bad form to make fun of sea-sick writing? Whatever. Redfin: A quarter (24.5%) of San Francisco-area home sellers cut their list prices during the four weeks ending Aug. 16, the highest share since at least 2015, when Redfin began recording this data. That’s more than double the rate from a year earlier, […]
“iBuying is such a great idea that the iBuyers would rather sell you anything else instead!”When I built iBuyerSpy.com, I had anticipated writing software that would have generated the main content of the site. This never happened. I ended up blogging there, which I should have done here – an error I am now correcting. […]
by Brian Brady
Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL
Most real estate agents want two things: more money and more time off. The challenge is that they are doing things that (a) are not dollar productive and (b) are time consuming. Add in more regulatory burdens, market shifts, and industry participants which are staffed by people who are incompetent, lazy, and/or stupid and it […]
Teri Lussier pointed this out to me last week, and I’ve been waiting since then for someone to plumb the implications. Ah, well, when there’s constabulary work to be done… Here’s the news: The state of California is making ZipRealty pay it agents minimum wage for their time. That’s huge. It’s just the thin edge […]
Today, Redfin.com CEO Glenn Kelman warns us that we may be “outsourcing our brains” because MLS systems are so stupid: I worry about whether the fundamental choice we made five years ago was the right choice, that if we played by the rules and used MLS data that we would be able to build a […]
The question comes from a comment to a post at Seattle-based start-up blog, GeekWire. The news? Zillow.com is bumping the per-share price on its forthcoming IPO to as high as $18, up from the $12-$14 range it started with when the public offering was announced. I like that question, because it parallels one of my […]
Tomorrow is the fifth anniversary of BloodhoundBlog. Here is where we started, with a question that haunts me to this very day: If almost-as-good is free or nearly free, what is the market value of slightly-better? At the time that we launched, Zillow, Trulia and Redfin were new kids on the block, and traditional Realtors […]