Zillow has an iBuying operation. Zillow is also a public company. Therefore they regularly disclose their financial results to the investing public. Their Shareholder Letter and Supplemental Financial Tables contain interesting details about their flipping activities. (Note: There are other iBuyers who are private companies, and the expense analysis likely applies to them too.) Overall iBuying Revenue For the 2nd quarter of 2019, Zillow’s Homes Segment (iBuying) reported revenue of $248.9 million and a loss
The practice of buying and quickly reselling real estate is well established. It generally goes by the name of “flipping.” There are different business models under the broad umbrella of flipping, with different risk and return profiles. At one end of the spectrum Wholesalers try to buy super cheap by finding private deals. At the other end of the spectrum Renovators focus on adding value to a property through construction. Despite the easy profits shown
Explore the Elmwood neighborhood of West Hartford on this ride down Elmfield Street. Homes in this neighborhood were mostly built just after World War II in the Colonial, Cape Code, and Ranch styles. Most of the neighborhood is single-family, though there are some 2-family properties on the main streets. The single-family homes generally have between 1,000 and 1,800 sqft of living space. Lots are about 0.20 acres, so the homes are close together. There is
This sweet Cape in Hartford’s Southwest neighborhood has been thoughtfully updated and maintained by its current owner. You’ll appreciate the cheerful, mature perennial beds as you approach the home. Inside, the formal living and dining room spaces are perfect for entertaining. The nicely appointed kitchen has plenty of work and storage space, as well as an eat-in breakfast bar. French doors provide access to an enclosed porch, overlooking the yard. The first floor is completed
Hartford County finished July with just under 900 single-family contracts, about 3% more than July of 2018. On a year-to-date basis 2019 is about 1.4% ahead of last year. Real estate activity continues to be strong in Greater Hartford. Inventory levels trended slightly upwards to 3.4 months by the end of July. The number of active listings remains below last year’s totals, and barely outside of seller’s market territory (less than 3 months of inventory).