paperboyNC
New member
https://www.ocregister.com/2018/03/05/redfin-keeps-its-startup-vibe/
Interesting tidbit in the linked article. Says it's in the inland empire only.
Thoughts:
- I assume redfin gets the home show-ready and expects to make enough on the spread to cover carrying costs.
- with such a shortage of sellers, it can give them a leg-up on other brokers
- rising home prices mean that appreciation during the holding period may more than offset carrying costs
- Redfin could take a huge hit if they own hundreds of homes and the market suddenly turns. I'm guessing they would end the program if a market started to swing to a buyer's market (inventory approaching 90 days at a price point)
Interesting tidbit in the linked article. Says it's in the inland empire only.
Thoughts:
- I assume redfin gets the home show-ready and expects to make enough on the spread to cover carrying costs.
- with such a shortage of sellers, it can give them a leg-up on other brokers
- rising home prices mean that appreciation during the holding period may more than offset carrying costs
- Redfin could take a huge hit if they own hundreds of homes and the market suddenly turns. I'm guessing they would end the program if a market started to swing to a buyer's market (inventory approaching 90 days at a price point)