article thumbnail

A new source of affordable housing inventory: Private seller auctions

Housing Wire

New marketplace for motivated sellers That is good news for sellers like Ricardo Sims, the out-of-state landlord who sold the Montgomery properties to Richards via SmartSale. More inventory for boots-on-the-ground buyers Richards started investing in real estate in 2004 and discovered distressed property auctions in late 2019.

Sellers 338
article thumbnail

What went wrong at Redfin?

Housing Wire

Launched in 2004, Redfin was named after the companys mission to redefine the real estate industry. Many consumers like having an agent guide them through the process, particularly because its nearly impossible for a buyer or seller to execute the transaction on their own. Redfin leaned into that, and it didn’t work.”

Brokerage 383
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rocket to Purchase Redfin for $1.75B

Appraisal Buzz

Founded in 2004, Redfin operates a home search platform with more than one million for-sale and rental listings and a tech-powered brokerage of more than 2,200 agents. Rocket Companies has announced that it has entered into an agreement to purchase digital real estate brokerage Redfin in an all-stock transaction for a value $1.75

article thumbnail

Risks of nonbank mortgage sellers and servicers revisited

Housing Wire

These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015. The post Risks of nonbank mortgage sellers and servicers revisited appeared first on HousingWire. I segmented the time periods into four underwriting regimes based on a machine learning technique clustering loan performance based on origination year and quarter.

Sellers 448
article thumbnail

Ishbia pledged UWM shares worth $4.6B to secure two loans prior to NBA deal

Housing Wire

The seller of the Suns Legacy Holdings , which owns the Phoenix Suns and Mercury, was Robert Sarver. The executive acquired both teams in 2004. The Bloomberg Billionaires Index shows Ishbia’s fortune dropped by $3.4 billion after the pledged shares were removed from his net worth calculation.

Sellers 418
article thumbnail

Consumer protection is what title insurance is all about

Housing Wire

Even as home prices began to decrease last year, mortgage rates remained high, leading both buyers and sellers to stay out of the housing market. nationally since 2004, according to an analysis of industry financial statements.

Insurance 468
article thumbnail

Ishbia gets NBA Board of Governors’ blessing to buy the Phoenix Suns

Housing Wire

The seller is Robert Sarver, managing partner of Suns Legacy Holdings , which owns the Phoenix Suns and Mercury. The executive acquired both teams in 2004. The NBA said in a news release that the deal is expected to close this week, and both teams will change hands for the first time in 19 years.

Valuation 370