News for hackers. Stuff that matters.

A comment on Zillow has listed 93% of the hundreds of Phoenix homes it owns at a loss. Parent comment

Re:Zillow has listed 93% of the hundreds of Phoenix homes it... by pxeboot on Sunday October 31, 2021 @04:54PM (#29060321)
> real estate companies like Zillow immediately buying up everything on the market is a primary contributor.

No such corporate buyers exist in my market, but prices have gone up a similar amount. The cause of recent price increases is likely far more complicated.

If Zillow or a similar company is able to disrupt the realtor and mortgage industry, there is potential for massive savings for both buyers and sellers. Right now middle men skim close to 10% off each transaction.

[ Parent | on HN ]
Re:Zillow has listed 93% of the hundreds of Phoenix homes it... by jeffbee on Sunday October 31, 2021 @04:58PM (#29060358)
> far more complicated.

Or far simpler: not enough homes to satisfy demand.

[ Parent | on HN ]
Re:Zillow has listed 93% of the hundreds of Phoenix homes it... by djrogers on Sunday October 31, 2021 @05:03PM (#29060412)
> Right now middle men skim close to 10% off each transaction.

It’s 5% at the most in most markets right now, with lost of options for even lower commission or flat rate listings.

[ Parent | on HN ]
Re:Zillow has listed 93% of the hundreds of Phoenix homes it... by pxeboot on Sunday October 31, 2021 @05:17PM (#29060541)
That only covers the agent commissions. The mortgage industry also charges substantial fees with little to no benefit for the buyer. Origination fees, lenders title insurance, appraisals, etc...
[ Parent | on HN ]