35 Burst results for "Zillow"
The Dinesh D'Souza Podcast
Should House Republicans Move Forward With a Biden Impeachment?
"Should the House Republicans move forward in impeaching, opening up an impeachment into Joe Biden? Now, there's been more talk recently about opening up impeachment proceedings, possibly Merrick Garland. I think those are probably both excellent ideas. I have advocated myself before for a Biden impeachment. It doesn't matter if it's not going to be carried through. It doesn't matter if it's going to make it through the Senate. First of all, there are multiple grounds to impeach this guy. He could be impeached on the border. He could be impeached over his actions in Afghanistan. He could be impeached over the financial corruption. Now, of course, he can be impeached over the classified documents. And the classified document scandal gets worse by the day yesterday I talked about the fact that it's now come out that Hunter Biden who claimed that house the house with those documents is has been paying Biden a rent of $50,000 per month. Per month. Now this is a house that's worth about $2 million, someone took the trouble of looking it up on Zillow to see what the rent is for that type of house. It turns out the rent is $7600. Who would pay $50,000? I mean, think about it. That's $600,000 a year in rent on a house that's worth, let's say, 1.8 at 1.9 million. It makes no sense. No one would do it. So in other words, it's very clear that this money is a kind of funneling of money.
The Charlie Kirk Show
Justin Trudeau Is Gaslighting Canadian Truckers
"Where does Justin Trudeau I actually think some anonymous Internet troll found Justin Trudeau. He's at some Lake house. You saw that? Because they were able to identify the type of shutters on his window. And then they put it up with some sort of Zillow listing or the Canadian equivalent of Zillow is Zillow international, they are Zillow's an international company. I actually go to Zillow at least once a week. I enjoy looking at real estate values be increasingly inflated with the deterioration of the dollar. I'd like knowing about all of that.
BiggerPockets Real Estate Podcast
"zillow" Discussed on BiggerPockets Real Estate Podcast
"I am really excited to go through this one with you. Here's what we got on tap. We are going to break down the most important trends and news impacting the very wide broad world of real estate investing. And what we want to do is help you cut through all of the noise that's out there so you can focus on the information that is really important to you, and that means you can make informed decisions about your investing. And the point here is is that this information that we're going to talk about today applies to everyone, whether you're a seasoned vet with a giant portfolio and scaling a huge business or even if you're just trying to get to your first deal or maybe just have a single deal, this information applies to everyone. Today we are going to walk through the three most important stories and headlines impacting real estate investors. These stories are of course Zillow. We have to talk about this. What happened with Zillow? What's the future of I buying and we're going to be discussing a whole lot more. A lot of things that people haven't been talking about yet in the news, which is a new entrant into the world of real estate tech known as power buyers. I actually think these new entrance might have a bigger impact on real estate than I buyers. So definitely want to listen to that one. We're also going to be talking about how interest rates and inflation are impacting the housing market. And yeah, those are two different stories, but I'm gonna love them together and that will make sense a little bit later. But this has huge implications for prices on the housing market. So really important to anyone who has a portfolio. And lastly, we're going to talk about how rent is growing faster than at any time on record. And this obviously has huge implications for anyone who is already investing or anyone who wants to get into this market..
Today, Explained
"zillow" Discussed on Today, Explained
"Area, all of your homes could just devalue immediately, then your left pulling the bag. I'm left holding the bag. I do think that this conversation has really gotten away from the underlying facts here. Large investors, those who retained more than a hundred homes and right now I'm quoting from a report from core logic, they remain steady at around 12% since 2018, and that's 12% of all investment of all home buying rates. So that's something where I think it's really important to put things into context because when we engage with this news, like these companies are these all seeing all powerful entities. We actually confuse what's going on here, which is that often these companies are flopping. Who's flopping? Zillow, actually. Zillow, I thought Zillow was public enemy number one here. Yeah, I mean, Zillow has gotten completely out of the home buying and selling an I buying business essentially happened earlier this month. We just determine that being an I buyer was too risky to volatile and ultimately address too few customers too narrow. And I think it really just showcases how much of a new and small profit industry I buying really is. If you really think about it, the profits that they're really making are just the difference between what they buy it from from individuals like me and you and what they can sell it from on the open market. But minus all the costs. They have to do all the staging, and they have to do all the painting and replacing the Cartman. Replacing the carpet and all that kind of stuff. And on top of that, too, there's this fundamental problem with some economists have mentioned to me of when you are buying things online like this. It is likely that the majority of people who are going to say, yes, I would rather go with an I buyer than with a realtor, especially in a hot market like this where they think they can get into a bidding war and make more money are going to be people who know something special about their house. They know something might be wrong. They know either it's on this weird street or the view is a occluded from something, or there's something wrong with the underlying infrastructure or it floods a lot of the time in the winter. And obviously these I buyers are doing some sort of due diligence here. They're not just offering you the money right away, but it's not the level that you would do if you were an individual who's searching a house for yourself to buy on your own. And so it's sort of like lemon problem, where they might have been buying a bunch of houses, which were actually overvalued by their algorithm. Zillow kept paying top dollar over asking over asking. So they ended up getting these houses trying to put them back on the market and they couldn't sell them at anything close and they bought them for. And the reason why this is important is because people were talking about Zillow entering the housing market like, oh, this means that they're going to have this massive market share. They're going to take it all over, all this is going to happen. But in reality, they're not even able to accurately price these homes. The idea they could have this sort of monopoly share posits that these companies are these all knowing masterminds. He's like mega minds of the housing market. But in reality, they're just like these companies kind of sort of flailing about trying to find their footing. And obviously a lot of them are still in it, open doors a big one, Redfin still in there. And you know, they're going to continue offering the service, but for them, it's like CarMax coming to your house. And buying and selling your car really quickly for cash. And that's the way that could go or it could go the way of what people are concerned about is that these I buyers go around, turn around and start selling it to institutional investors, which is what we've seen with Zillow actually recently, whereas yellow after it announced that it was no longer going to be doing any I buying. It looks like it's selling a lot of its inventory to institutional.
The Indicator from Planet Money
"zillow" Discussed on The Indicator from Planet Money
"NPR. Welcome to the indicator from planet money. I'm your host, Adrian mob. And I'm Stacey benck Smith. You don't Stacey selling your home can be a real pain. Oh yeah. Just listen to some of these frustrated home sellers. Tell me about it. I just spent hours cleaning and making repairs to get my house market ready. I just had a buyer pull out because of financing and don't get me started on agent bees. Oh no. There's gotta be a better way. And now there is a better way. Sell your home to an I buyer. The I is for instant. We use algorithms to calculate your home's worth and make you an offer so you can sell your home for cash in a matter of days. Wow, that's amazing. Does it come with ginsu knives? That is the question. So I buyers. These are companies like open door, Redfin, and Zillow. And they started doing this a few years ago, buying homes. For the home seller, the idea was that this would be fast and easy. And for I buyers, I mean, this seemed like a slam dunk. After all, they had all this data on what homes people were searching for, what neighborhoods people were interested in, what home people were clicking on and liking, and you know they also knew like regional data and all these trends they had so much information. And so they could make these really precise calculations on how much they should pay for a house and still turn a profit. So today on the show, the mighty algorithm takes on the housing market. What could possibly go wrong? This message comes from NPR sponsor, fundrise, making investing in private real estate as easy as investing in stocks, bonds, or mutual funds. Build a more diversified portfolio today at fundrise. Fu in the rise dot com slash indicator. This message comes from NPR sponsor, odo, odo is a suite of user friendly business applications designed to automate streamline and simplify every aspect of your business from anywhere at any time. For a free trial, go to O, doo dot com slash indicator. I buyers. Basically, they buy homes online, throw on a coat of paint and turn around and sell them. This industry really got started around 2014 and took off with companies like open door, Zillow, and offer pad. But Gregor Matthews of northwestern university, he says, they only concentrated in certain places, like Phoenix, Atlanta, and Las Vegas. They are very present in markets in which you have let's say standardized housing in a very fairly narrow price range. It's really houses that you can price pretty darn well using a computer algorithm. Think homes that are relatively nice, relatively new and would sell relatively quick. These guys were looking for like the Toyota Corolla of homes and not like the Ferrari. But, like Gregor says, in areas with a lot of newer, kind of cookie cutter style houses, I buyers were using all this data that they were collecting on home values and customer interest to just scoop up dozens or in some cases hundreds of properties. In Phoenix, kind of the hot bit of I buying, I buyers reportedly own more than 10% of homes. And some people, you know, this wasn't landing very well. People started to worry that these I buyers had an unfair market advantage. And let's talk about some what ifs. What if there was a company that everybody used everybody used everybody knew to look for houses? Yes. Like this real estate agent from Las Vegas. You may have seen his viral TikTok video. And so that company, they just sit back and they just collect all the data. They just know what zip code is looking at. What zip code and how much those people can afford. Let's say that $1 billion company uses that information to go into that zip code and start purchasing houses. So are TikToker doesn't name names, but, you know, he's talking about I buyers like Zillow, and he goes on to suggest that if these companies buy enough homes, it could distort the market. They could actually artificially inflate home prices. Zillow and Redfin, by the way, have issued statements denying this. And anyway, Gregor does not think this is happening. First off, these companies have been losing hundreds of millions of dollars a year on I buying. And despite their growth, I buyers share of recent home purchases is only about 1%. Even in Phoenix, where remember I buyers reportedly own 10% of houses, Gregor says that figure would have to be way bigger for any company to control the market. So if they are trying to do this manipulation, they're not doing it very well. Not only does market manipulation not seem to be happening, but also profits don't seem to be happening. Zillow, for instance, announced last week, it was quitting the I buying business and laying off a quarter of its staff. Zillow says it's I buying operation, lost more than $420 million in the third quarter of this year alone. So how did this happen? Well, you know what we mentioned earlier how I buyers fix up homes a bit before selling them? Zillow says they had trouble finding enough contractors to do the work, which made selling really difficult. But also, they kind of admitted their algorithm just didn't work like they hoped. Gregor and his colleagues have been studying I buyers for a few years now. And he says, even though these companies have troves of data they can slice and dice, they just can't get around this particular metaphorical fruit. I buyers fundamentally are exposed to what an economics we call the lemons problem. The lemons problem. Why do lemons get such a bad rap? Exactly. In this case, we're talking about lemons as in like a car, like you buy a used car and it turns out to have some unexpected defect. It's a lemon. Right. And the lemon's problem is a problem of asymmetric information. That's when a seller has way more knowledge of a thing than the buyer. And this asymmetric information problem has reared its head with I buyers. If they want to transact quickly, they can't take the time to very, very precisely value the house. They already need a pre dawn good computer algorithm to price things. But they're still not as good as someone who can take the time and walk back and forth and do a very thorough inspection and then take two months to close down the household. So algorithms. For all of the power and insight they have, they do have some weaknesses, and some blind spots, like, you know, an algorithm's not going to know if the neighbors are really noisy or if the basement smells weird. And of course the companies doing the I buying, they know this. So they try to stick to middle of the road houses and pay just a very reasonable price for the middle of the roadhouse to protect themselves from unexpected basement smells and make sure that no matter what happens, they can turn a little profit. But on the flip side for algorithms, they also miss what you might call the lemonade problem, right? What if the house is above average and some not so quantifiable ways? It's drenched in beautiful sunlight all day, or it's downwind from a pastry shop. So the air smells like pie in the mornings. I would pay extra for pie smell. The person who's selling it says, wait a second, the average price for my awesome house wine the world what I sell in my awesome house for the average price, I'd rather not tell you my house at all. The person would have terrible house says wait, the average price for a terrible house, yes, please. So as the buyer who doesn't know what house you're getting, when you offer the average price, you only get terrible houses. Yeah, pricing a house is complicated. There are just things the data can't capture. Lemons, and lemonade, and ultimately, Zillow could not figure out a solution for these algorithmic blind spots. The housing market.
Real Estate Coaching Radio
"zillow" Discussed on Real Estate Coaching Radio
"Over profitability sustained unprofitability. Was the new competitive advantage and read was the new black but perhaps this is a turning point for investors in zillow open door compass score of others at some point. Enough is enough credible. Path to profitability is needed for zillow. This and losing a cool billion is that point. So here's an interesting counter to that Xp royalty yes came out with a quarterly earnings and are profitable pass right. And there's this the reason that there's a lot of investment firms you know both You know goldman sachs and an investment firm is. They're saying that. Xp realty essentially still priced is a could double in value. We're not stock pickers. We do have the x. P. i. stock so just keep all that in mind. We're not the financial advisors. But i'm just giving you the counter that so. Espn realty is run as a profitable business enterprise. All these others are run as a loss. Don't you might say to yourself. How can they continue to operate when they're losing money every month because they're using investor money that's why they're burning money and there's a lot of these in the tech rome's profit is actually not something they're trying to achieve growth. They want growth because what they're trying to do is they're trying to be the dominant player in the space. So for example zillow probably rationalize losing this extraordinary amount of money per unit that they were losing because they were trying to beat open door and at every mature market. There's one dominant player. And then there's everybody else every like xp royalty in the virtual real estate space the dominant player by miles and miles and miles back again. Okay zillow was trying was competing with open door but open door. Interestingly enough wasn't losing money per house they're operating very essentially. There were not blowing in wasting money. They're operating it like a business. It was intending to make prophet so open doors going to be the big winner and all this sounds but but it is fascinating that maybe with this. This is the end of this philosophy that you just build despite profit just for the sake of getting market share with the idea that you know one day someplace sometime the future you're gonna have profitability. And what mike is saying. I believe is that that might what this is about to happen. And losing billion dollars investor money. This might be the hard stop for all these businesses that were built around. Not turning a profit that's right. They were focused more on growth than actual profitability. And you know your question was valid because anybody listening to this is saying well. How can you go on that long for being that unprofitable but it was because they were using investor money right so if somebody handed you five million dollars instead go by some houses you would probably be less careful about the purchase price you would just go out and buy as many houses as you could gobble up and then you deal with the consequences later. So here's a suggestion to you guys. So stop doing business with celo. Just stop stop beating up. Stop feeding your competitor. stop being. Don't be offended by this word. Lazy.
Real Estate Coaching Radio
"zillow" Discussed on Real Estate Coaching Radio
"We're listened to in sixty different countries. Here's the thing we know. A vast majority of you have not been in the business long enough to know that zillow buying buyer leads from zillow is essentially an exercise in futility. Most of you have not experienced that to know it. So you're going to get in the business or you're gonna twenty twenty two is going to roll around. What am i gonna do a zillow reps to call you on the phone which that in itself is kind of a joke. If you think about it i mean let's just. Let's drill down on that per second k. Jillian i teach you all how do proactively generators does what. The heart of our in seoul of our coaching business says teaching agents how they can own the land. Build the house on the land so they actually have control. Their business makes sense doesn't profitability and so zillow is calling you the very same thing we want you to do to degenerate your business in other words. Zillow is being proactive. And calling you to try to get you to be a customer and yet they're trying to sell you on the idea that you don't have to be proactive by trying to sell you. Try to sell you leads that. They generated off their website. You guys get the conflict in that so if that worked they calling right if you're right exactly so if the lease zillow could generate leads why to essentially. Why aren't you guys able to buy with zillow a selling off their website. Why do they have to call you. So why don't you call people learn what to say how to say it and you'll never have to be beholden to anybody for buying leads keeping your money in your pocket. That's right that's right. Your product is or at least should be prophet. And what's your what's your option guys. You're going to start buying leads. The leads are gonna start going down. You're gonna then they're gonna call. You're gonna complain and then they're gonna say well you got to buy more leads which liked by zip code and you're saying well i don't know how the hell to do anything else so i'm going to buy more leads. You're gonna buy more lead. You're gonna buy more eight hundred bucks a month five thousand dollars a month..
Real Estate Coaching Radio
"zillow" Discussed on Real Estate Coaching Radio
"Zillow. You're hoping zillah was going to continue to poorly. It's great quality leads on you for long periods of time and they after all were this big trustworthy zillow after all sounds like pillow. Sure how exactly we end. Zillow promise forever. They weren't gonna get into the real estate business they are now and the real estate business zillow promised all kinds of things and now basically what you're seeing. Is that whole thing coming full circle. So what is going to do next. It's essentially out of the flipping business. They are out of the flipping. Business assuming financially can survive the unloading of all these properties. And who knows what's going to happen. In the public markets as far as what their losses will actually be but more importantly how shareholders in the overall market handles that incompetence with their by. Our model is are they going to survive that. Let's assume they do. So what's next for zillow. They're going to have to lean back into selling guys leads. The problem is y'all are too damn smart now to buy them and that's what happened. So many agents have gone like when it started out when they started selling out lee. Selling it was great. It worked great. Then it didn't work great and then it started working poorly and now by now agents know better the pretty much the only agents that are zillow basically decided they're going to sell their leads primarily to larger teams and bridges that willing to pay them an enormous amount of money thus essentially squeezing out the individual agent who is willing to spend thousands of dollars three to five thousand dollars a month or whatever on buying leads those people those agents are essentially no longer get leads from zillow and furthermore the quality of leads that zillow was able to generate went down in just below ground level. Why though was the first at scale. Selby buyer leads. Zillow was copying realtor dot com business model. They did not think of. it also does They would call it interational but really well they do..
Real Estate Coaching Radio
"zillow" Discussed on Real Estate Coaching Radio
"To read about that in a second but the reality of it is is a certain percent won't take the offer. But what does that leave zillow in the position of owning. What data did they gather. They know of sellers that are interested in selling their houses. And then what they were doing is selling those leads. Back to agents for an enormous fee so there was conceptually a business model and essentially generating interest in people selling their houses. Obviously ver- instant cash offer having the offer not be something that the seller found politics and then matt lead being sold to an agent so from a business perspective. There was something there. There is a lead generation tool it was and it was again a lead generation tool that agents have done ever since we've been in real estate guaranteed home program was popular in the late eighty s when values kmart exactly all of these. Things have been around for ever. None of these ideas were new and it turns out. You can't do it at scale turns out maybe at all right so you know what. Let's get to these other points that i gathered. Let me see if there's anything here with a whole bunch of quotes here and ideas from different people in the real estate industry all right now. Some of these facts and figures. We're gonna repeat. I was trying to keep this really tight and so i'm writing an article for our website. Tim and julie harris dot com and so the title is probably going to be white. Zillow's i by our program turn their balance sheet into a dumpster fire. You think that's enough. You know this calling it how it is so rich barton co-founder of zillow. Nca oh here's a quote again. We've determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale zillow operas would result in too much volatility or repeating ourselves there like. I said that's going to happen. Because this is breaking news story angelina turning all the latest information share with you a quote from warren buffett back in two thousand twelve. And i'll never forget this. He was being interviewed by becky quick on cnbc and he was talking about the fact that if he were he's i believe he said if you were younger he would be gobbling up single family houses he would. Buying bikes may single family houses as he could. He said thousands of single family houses but he said the problem with that was the management of all those houses. And what happened after that. You started to see the rise of these institutional investors that we're doing just that and who they hired manage their single family houses local real estate brokers local real estate agents. And they're not selling them for the most part. We have not seen any evidence and all the markets where we have coaching clients of there. Being sort of any sort of mass exodus from these properties because most of these properties were bought and now inflation is making it so their body incredibly well and these investors big institutional investors are making incredible cash flow from these. Why rule number one of building wealth and real estate.
Real Estate Coaching Radio
"zillow" Discussed on Real Estate Coaching Radio
"We know looking at your blackhawks and whatnot. They tend to not put those houses back for sale. So you are again. This goes to again a grander idea. Here how many of the houses have been taken out of the out of inventory made into what probably will be long term rental properties thus even constraining the supply of inventory to these what we're experiencing now. How big of an issue has that been. And is that going to continue. Could the lack of institutional purchasing this trigger the institutional purchaser slowing their purchases of homes because they no longer and be able to buy them from zillow. All these things are conceivable. And what will that do home prices. This could be a domino. In some markets to level off the absolutely insane seller's market we've been experiencing for so long it could change inventory levels depending on the exactly. Okay so the eye. Buying platform's demise comes only several weeks after zillow announced it would pause. It's home-buying efforts due to issues with labor and supply chains in. Yeah that's everybody's excuse now. Right in a written statement on. October eighteenth zillow chief operating officer. Jeremy waxman remained confident. The company would work through. Its issues and reignite. It's buying efforts. In twenty twenty two quote we're operating within a labor and supply constrained economy and inside a competitive real estate market especially in construction renovation and closing spaces. That wasn't the real problem now. The real problem was julius. Only get to. They were overpaying for houses. I think that was kind of like the pre-announcement announcement because that was when they said they were going to pause well. But i don't think they actually. What's clear what's going to come out. Like i said guys. This is going to be historic story. I expect this to be net mini series. At least something is going to be written about this. At least a somebody out there do at least trump history and surreal drill down research on this because it is interesting yes. The portal remained relatively mom after. It's october eighteenth announcement but financial analysts and reports began ringingly alarm about the future of zillow offers. Bloomberg's latest zillow article published on..
MarketFoolery
"zillow" Discussed on MarketFoolery
"Market foolery. I'm Chris hill with me today. The one and only usa Sharma. Thanks for being here. Chris, thank you for having me, sir. We've got ride sharing. We've got the stock of the day, we're going to begin with the three alarm fire that is Zillow. The third quarter results that Zillow posted after the closing bell on Tuesday, you don't matter. I'm sorry to say that, Zillow, but they kind of don't matter. The company announced it is getting out of the home buying business altogether. It is also laying off 25% of its employees. At the moment, shares of Zillow are down more than 18% hitting a 52 week low we can go over the results if you want. To me, this announcement about the home buying business answers the question that we raised a couple of weeks ago when they announced that they were pausing it because they said we're pausing this for the rest of 2021, which was a ten week window. And at the time, we were like, okay, at some point in the next ten weeks we're going to get an announcement. They're going to say it's either back on in January or they're going to push it back. It didn't occur to me that they would just shut the whole thing down altogether. I know, right? The other shoe drops with a huge thud. This is very surprising in some ways. But maybe not so surprising in the others. I want to say here this is not peanuts. We're talking about a 300 million dollar write down of inventory. Additional charges related to homestead are under contract of 242 165 million. And also pre-tax restructuring charges estimated at approximately a 175 million to $230 million. This is hundreds of millions of dollars all told. And a hit to this business model, which was predicated on being able to buy homes at reasonable prices and flip them at a profit. A couple of things that I wanted to point out here and then get your thoughts, Zillow actually had an algorithm has an algorithm which helps it price homes for offer. It's related to the one that is used by people who own homes when they take a look at their Zillow estimates. This is similar technology. This was supposed to be very, very good at giving them an edge in the market. The opposite seems to be true in major metropolitan areas. Zillow was pouring in over the last few quarters and helping to drive up demand and drive up prices in markets where it was supposedly using its technology to find reasonable prices..
The Peter Schiff Show Podcast
"zillow" Discussed on The Peter Schiff Show Podcast
"Take it off your first three months and free shipping in fact more evidence of a slowing housing market we got the announcement yesterday from zillow that they were exiting at least temporarily so maybe suspending but maybe it's suspension for good their home flipping business. And i just happened to talk about the home flipping going on at zillow a couple of weeks ago on what my podcasts and now zillow comes out and house to warn investors and the stock dropped about nine and a half percent yesterday on the news we rebounded about one or two percent today with today's market rally but they warned investors about this problem and they were going to temporarily get out of this home flipping business which home flipping was accounting for a large portion of their earnings course. Now is going to account for a large portion of their lack of earnings right their losses. But the reason that zillow said they're going to get out of the home flipping business is because they've got too big inventory of unsold homes so they bought a bunch of homes that they thought they could sell it a quick profit and they still have the homes and now they're having to reduce their offer price. Now maybe they're selling some of these homes for less than they bought. And of course. I pointed out the absurdity of this business model. Because they're not buying homes that are in complete disrepair that need a lot of major renovation. They're just trying to buy homes slightly below market value and then maybe just fifth them up a little bit shine them up. Make a few minor adjustments and then sell them for their fair market value and make a quick buck which seemed like a very risky way to talk about picking up pennies in front of steam rollers. And of course. I think i mentioned on the podcast that i'm sure that the homeowners no a lot more about these properties than zillow zillow barely knows anything about him and in the hot housing market that we had to the extent that a owner of a home is not going to take advantage of the market but is instead gonna hit a low ball zillow bid is probably because there's something wrong with that house that zillow can't pick up in its algorithms right. 'cause all they know is all right. Here's the zip code. How many square foot does it have. How many bedrooms. How many bathrooms. What are the houses selling for. That had that criteria but at the end of the day each house is unique and there could be a problem with one of these houses that zillow's algorithms don't know about but the order of the house. He knows about it. That's why he's selling zillow. Zillow probably get stuck with a bunch of lemons. But what are the factors are two of the factors that zillow specifically mentioned as being problematic for its home flipping..
MarketFoolery
"zillow" Discussed on MarketFoolery
"Foolery. I'm Chris hill with me today. Jason Moser in the house. Good to see you. It's good to see you. We've got big entertainment in the spotlight. We've got big retail in the spotlight, but we're going to start with housing shares of Zillow group down 10% this morning after the company is hitting the pause button on its home buying service due to overwhelming demand, Zillow issued a statement saying it is quote beyond operational capacity in the Zillow offers business. Okay. So you can look at this and say, well, this is the proverbial good problem to have. They have so much demand. That's great. So much demand for the home buying service. But the fact of the matter is they're pausing this because they didn't plan correctly. They didn't staff this correctly. Yeah. I mean, I think you're right to a degree. I think the market's reaction to me at least feels like an overreaction based on what we know. I mean, this is, this is like you said. It's a nice problem to have. I think it's actually less a Zillow thing. Zillow's partly to blame here. But I think they ran into some market conditions. They simply weren't anticipating. And so yeah, they failed to plan for a given scenario and that scenario is occurring. So if you look at the release on Zillow's investor relations website, they note that operational capacity Zillow offers to focus on sign, customer contracts, and current inventory suspends signing of new contracts through 2021. This is really through 2021 is essentially two and a half months. It's not an issue of capital, right? This is an issue of them being able to not necessarily deal with the given supply chain constraints in the market. And it seems like Zillow offers itself has gained a lot of traction. If you look at the numbers just from last quarter, they purchased 3805 homes..
WSJ Tech News Briefing
"zillow" Discussed on WSJ Tech News Briefing
"Amount of money. Buy it from you fix it up just as a home. Flipper does in real life in other words you know. They put nice hardwood floors in or they'll tear up the carpet and put a new carpet. They'll paint simple renovations like that and then they'll turn around and sell it in a very short time period and hope to make a profit on that and who were in the big eye buyers in the market right now so the market leader is a company called open door and they are very much in the market lead zillow which almost every consumer who's ever wanted to buy or bought a house has looked at has gone big into i buying offerpad and then also red fin which again if you've been in the market for a home or look to sell your home you've used redfin before and they are also involved in. I bang all right. I wanna talk about the technology that's being used by these firms. Some listeners will be familiar with virtual open houses or maybe digital staging but the technology that these firms are using. It's a little bit different. It goes beyond that right right. So they're using all of those things that we as consumers are familiar with but they're also building a tremendous data repository where basically the more markets they're in and the more transactions. They're a part of and they see the more data they get and the more they're able to predict how much to buy and sell a home for without needing to use a physical agent on the ground. So if i'm looking to sell my house to them what might need to send in. What kind of information are they going to need from the home sellers so initially it was that you'd go online and you fill out some paperwork. Which would have some questions about your home. And then they would get back to you with kind of like a preliminary quote then they would physically send an agent to check out the house and kind of make sure that everything checked out it was as it was described. That with technology transitioned into like virtual live. Walk through like you know you might do a facetime with an agent. As of last week. I believe open door is now offering consumers the ability to essentially walk through their house take a few snapshots of things And some videos on their own time and send sentiment.
WSJ Tech News Briefing
Opendoor, Zillow and Redfin Bank Seek To Flip Houses Virtually
"Home. Prices are rising at a record rate. A lot of the demand is coming from city dwellers who to escape to the country or the suburbs but some of the buyers aren't people at all they're tech companies sometimes called i- buyers that buy and sell homes for profit. These companies have been building up their presence in the real estate market for years. But this may be the moment. They've been waiting for so after years of resistance is tech. Finally taking over real estate. Joining us to discuss is are heard on the street tech columnist. Laura foreman hi. Laura hi thanks for having me you know. I think the term. I buy gets bounced around a little bit when we're talking about this market. Can you start by telling us what that is. Sure a ni- buyer is a company that uses computerized data to buy and sell homes and flip them so a company that will ask you a homeowner for information about your house decide. It's worth x amount of money. Buy it from you fix it up just as a home. Flipper does in real life in other words you know. They put nice hardwood floors in or they'll tear up the carpet and put a new carpet. They'll paint simple renovations like that and then they'll turn around and sell it in a very short time period and hope to make a profit on that and who were in the big eye buyers in the market right now so the market leader is a company called open door and they are very much in the market lead zillow which almost every consumer who's ever wanted to buy or bought a house has looked at has gone big into i buying offerpad and then also red fin which again if you've been in the market for a home or look to sell your home you've used redfin before and they are also involved in. I bang
WSJ Tech News Briefing
South Korea Bans Google, Apple Payment Monopolies
"A new bill that set to become law in south korea could put a dent in google. And apple's dominance over in-app purchases right now app developers who sell through the tech giant's app stores are required to use the company's in house payment systems which gives google and apple a cut of up to thirty percent of the sale but a bill passed yesterday by south korea's parliament would change that by allowing at makers to use other options for getting payments. It would be the first. Such law in the world. Though similar measures have been proposed in the us and europe apple and google have defended requiring the use of their payment systems. Apple says using other systems could increase the risk of fraud and privacy violations. Google says the commission's help keep its android operating system free.
The United States of Anxiety
"zillow" Discussed on The United States of Anxiety
"This school year kicks off with massive anxiety in many parts of the country. Children account for some of the biggest increases in covert infections and hospitalizations. Among kids are rising by. Now i think most of us are at least vaguely aware that safely reopening a school emphasis on the word safely is highly dependent on having a good working relations system and yet according to a report by the government accountability office forty percent of schools in the country for attitude. Just don't have that many don't even have innovation systems at all. It's certainly true of so many of our school buildings here in new york and parts of new jersey. It's an excellent case. Study in a very old problem. A longtime ago we made a choice to fund schools inequitably largely based on local property taxes. Later in the show. We're gonna talk about the history of that decision and how we could design a very different funding structure now but i joined by bracy harris a reporter for nbc news who previously covered education for the new site the hedging report bracy and her colleagues at hatching Reported in an investigation last fall on how inequity in funding for the physical infrastructure of our schools. Determined who could safely return and who could not. We're going talk about that reporting and where things stand this school year. Bracy welcome. thanks for joining us. Thanks for having me so. I'm curious about your own experience in mississippi. You're from there. You did reporting for this piece there. What was your experience like so theme back to growing up in mississippi. I had an interesting k. Twelve experience because it was basically split down the middle From kindergarten to one half one semester rather of sixth grade I grew up attending school in a pretty affluent school district out. And like the tell people when i'm talking about my experience growing up it was almost kind of like the i think you would say like the utopian vision of what public education should look like I grew up in a two bedroom apartment. It was pretty comfortable. Remember having enough room to sort of tumble around But definitely it was eye opening when i would get on the school bus in the mornings and afternoons and we would go through gated neighborhoods. That had multicolored garages. That had swimming. Pools that you could spot but then In my second semester of six grade. I transferred to another school district in mississippi. That was pretty strong academically but did not have the same amount of property wealth. And i can still just remember the first day in the front office. Just kind of looking around taking in my surroundings and filling completely Overwhelmed kind of understanding that my experience was going to be different going forward. And you know i feel like we kinda take that fact for granted a lotta times just people like. Oh yeah you know. Some schools don't have a lot of money and other schools got a lot of money and that's just the way the world But can you give us the school funding one zero one for people who haven't thought this through school infrastructure spending. What a one you've written that. Education is largely local endeavor. How do we pay for education and particularly the physical infrastructure of our school buildings. A thing to keep in mind is just if you want. An idea of how schools are funded or how that funniness going. You could just get on zillow and look at. What are the property lists. Seems like in your area what's The costs associated with real estate Because it's from that property. That's where a lot of school district get the bulk of their funding from local property taxes. And so what. I've seen in my reporting over the years time and time again. Is that if i'm in a area where i'm seeing boarded up storefronts local downtowns. That aren't busy when i go into those schools. That's where i'm seen the most need for repairs. That's where i'm seeing plaques. That might indicate that this was a building built in the fifties In one case. I've been in a building that was from the nineteen twenties but when i'm in a school district Particularly i'm thinking about in central mississippi in some of the most affluent counties. I mean you look around and there are just these beautiful glass windows The buildings just have the sense of freshness from everything ranging from the paint to the outside exterior and you just really get a sort of a sense of the disparities that occur based around property. Wealth as you started reporting on this divide last fall and looking at as people were trying to go back to school and you know as we know it became quite fraught. Many people didn't some somewhere able to. What conditions did you see in the underfunded schools in mississippi as kids. Start trying to go back to school. What what did you see what. I saw in underfunded schools in mississippi particularly in the mississippi. Delta was that many of these school districts weren't physically reopening their buildings at all suits. Were doing remote learning. You have to keep in mind Again i'm taking of one district and in the delta of holmes county. I've been in buildings where there were concerns about Espressos being in the window sills so some of these classrooms may not have opened up their windows from ventilation to begin with so in a lot of these areas they just remain shut whereas in more affluent communities in mississippi some of them are actually uploading facebook videos giving tour giving kind of warehouse tours of all of the supplies that they were going to be rolling out in an effort to do disinfection To keep students safe. I will give a caveat. Here this was still around the time Before the world health organization had recognized the corona viruses airborne. So there were a lot of. I think concentration on disinfecting surfaces but those were definitely some of the differences That set out again on one hand. You had district sort of really walking parents. Through on these sorts of protocols they were going to be putting in place and and other districts in sort of less affluent areas in mississippi. They were just right off the bat. Just saying we're going to plan for a semester of virtual learning. What is the biggest problem. That's the this talking about last fall. What was the thing that would make it impossible in those underfunded schools to come back while facing cove. It was the ventilation. I talked about that earlier. Is it the size of the buildings. What what were the biggest hurdles. So the hurdles. I would hear from superintendents with were getting supplies and time In some cases. I'm thinking that district's again in terms of when you're thinking of ventilation there's eight gene H back systems so upgrading to a certain type of filter to to take an account the virus and keep kids safer in some cases wishes already out of the question To begin with so really. I it was sort of all encompassing like some superintendents. They almost didn't even get to the point. I felt like saying whether or not they would have enough space to space out their children adequately because just from the beginning they just felt so overwhelmed by.
Startup Stories by Mixergy
"zillow" Discussed on Startup Stories by Mixergy
"Kind of like the wild west so we want to consolidate industry wanna bring everyone involved in acquisitions. Together including emanate visors. We wanna work a business. Broker original messaging was like no brokers but We actually hired a broker in house. to lead Vp marketplace So that's been interesting Also hired an attorney in house to help build out the emmy attorney side of the marketplace. So we wanna consolidate shree everyone from again attorneys advisors business brokers bankers doodo doj decks birds accountants probably forgetting if you wealth managers razzle business. The first thing i needed but it was just a reference like you know there's so much trust but And i joke around jeremy about this. I was like what if we did that. But like have you heard about yell. Play would add like reviews like yelp. And he's just like damn andrew. I i do that multi-mm` but like we're an entrepreneur can go in like if i was selling business apps. I find a guy that you know what i would i. We had close. Go daddy or bill to sow wicks like i i. It's been really good about helping some of those businesses organized. What do you think of that. I don't know what that's called. But that kind of consultant seems really helpful for businesses. Getting ready to go Yeah that's another thing they were looking at it. Just yeah and you can hire those individuals within the marketplace and that's probably entity our roadmap a little bit like we see a lot of opportunity to improve things like escrow or streamlining legal creation even just transferring assets right now. People are degrading ruled chaired sheets. A hundred different ways to do it. Y combinator standardized Investment agreement like we feel we can standardize the l. y. potentially nda Not the purchase agreement. Because that's where it gets really crazy minors like a hundred and fifty pages long but Yeah that's that's kind of a red we wanna be. Zillow emanate we wanna be Essentially the place that helps brokers find more clients service because after research broker spent half of their time on sales marketing trying to find a business just like any business like they find new clients..
AP News Radio
Many Americans Moved to Less Pricey Housing Markets in 2020
"It seems among the lifestyle changes prompted by the pandemic is a trend of Americans moving into larger homes in less expensive communities relocation data finds people who moved to a different city in twenty twenty on average ended up in the zip code where home values were nearly twenty seven thousand dollars below the area they left and studying tens of thousands of moves tracked by Zillow and north American van lines the average home purchased was thirty three square feet larger than the previous residence it suggests that many Americans used the pandemic and the broader acceptance of working from home as an opportunity to flee higher cost metropolitan areas hi Jackie Quinn
AP News Radio
Jackie Quinn discussed on AP News Radio
"It seems among the lifestyle changes prompted by the pandemic is a trend of Americans moving into larger homes in less expensive communities relocation data finds people who moved to a different city in twenty twenty on average ended up in the zip code where home values were nearly twenty seven thousand dollars below the area they left and studying tens of thousands of moves tracked by Zillow and north American van lines the average home purchased was thirty three square feet larger than the previous residence it suggests that many Americans used the pandemic and the broader acceptance of working from home as an opportunity to flee higher cost metropolitan areas hi Jackie Quinn
Money For the Rest of Us
Inflation, National Debt and the U.S. Dollar - What Could Go Wrong?
"Prices are up double digits yet. Inflation and us as measured by the consumer price index is still less than three percent that the federal government is issuing trillions and trillions of dollars of new government debt. It interest rates are rock bottom that the money supply has increased over twenty five percent in the past year as money flowing everywhere yet. It's not showing up in inflation measures such as the consumer price index in this episode. We're going to connect those things together and consider what is it. That could go wrong where we could see inflation. Spike and the return on treasury securities be negative. Last october i released an episode titled how to buy and hot housing market i described lapel and is quest to sell our house in phoenix and by one in tucson since then the housing market has gotten even hotter than median existing home price in the. Us is up over sixteen percent year over year. The house we sold in phoenix. Zillow estimates is now. We're ten percent more than what we sold it for. This past november houses around the us are getting multiple offers. Many above the listing price and often the buyer is paying cash one reason the housing market is so hot is individuals want to move. They have been working at home through the pandemic realize the either one a bigger house or they're not going back to the office and so they wanna live in a less expensive locale. People are leaving. High cost states like california new york and new jersey and moving to less expensive states or states with better weather arizona. South carolina florida and idaho at the same time. There's been a limited supply of houses.
Monocle 24: The Entrepreneurs
Interview with Airbnb CEO Brian Chesky
"Talk to me about going forward and connecting people and the focus. You're putting on experiences but also on the lives you can create for your host. Who in part. I think are taking equity and becoming quite important for the brand. We've just heard in london here this week. That uber has said its drivers will become workers with benefits and minimum wage. So they're getting brought into the companies. So how do you sort of to advance the experience of your host but also the people that are using the platform to rent yet to great questions. Maybe i'll start with the second question host. And then i'll go to the first one the different like let's just take us versus uber. One difference in us an uber is the founders of uber created uber because they wanted to be writers another words they said it would be awesome if i could summon a black car so they started on the buyer side. We were totally opposite. My roommate and i weren't desiring to have a service like airbnb to travel because we were too broke to even want such a service. I mean we would have loved it but we were so broke. We just wanted to way to make money so we really started as host. So in that sense. I think this is a company of hosts by host for host and even if we have veered from that in the past. We're back there. And so i'm very proud of the fact that number one host have made one hundred and ten billion dollars on our platform since we started. That's pretty cool. The next thing. I'm saying i think it's cooler. Fifty five percent of that income has gone to women most ecommerce platforms. The vast majority economics. They're not evenly distributed on airbnb. The vast majority of income is outside the united states and more than half of it goes to women. it's a pretty diverse audience. We have four million host on airbnb. Ninety percent of our hosts are individual people so there is a question. How many of these are professionals. The answer is ten percent ninety percent of individuals. The most common careers are healthcare workers schoolteachers. In students these are the three most common professions that we've seen so these are truly everyday people like my parents. My parents are social workers. And it would make sense that people who need supplemental income would be everyday people for the most part one of the things we did before it went public. Is i got a piece of advice from somebody. They said. institutionalize your intentions. So that even as a public company you can minimize conflicts. Your vision and what they really meant was wants to go public. The cement of your company gets a little harden. What do you want to bake into the company before you go public. And i said one of the things i want to bake in is to create a host endowment. I want to set aside equity for host and so one of the things we did is we took nine point. Two million shares of airbnb equity and we put it into is essentially a airbnb host endowment kind of like a college endowment where it would grow every year but then some of the appreciation would get distributed into the host each year. So that was the idea that endowment is nearly two billion dollars today and growing. I hope it's one day. Larger than most college endowments and we created a host advisory board of seventeen host from fourteen countries to advise us on how to spend that money and reinvest it back to the host community. We also allowed host to invest in our ipo. And we had. I think it was fifteen thousand host. If i'm not mistaken who invested. They bought stock at sixty eight dollars. A share as you know the stock prices at the time of this recording around triple so those hosts have done really well and if i could allowed winning more host to invest in the whatever but we had some sec regulations that limited us and so these are just some of the many things we tried to do. But i just want to say like our commitment to host just beginning. Because i've committed to putting more than one hundred million dollars in my own equity into the host endowment and we're gonna continue to invest in our host because we are nothing without our host and in the end the day everybody's more of a community anything else i mean. Yeah we are a technology company in a sense but with people are buying isn't technology and they're not buying real estate we're not like zillow wh- senator of our company our host and our people and so that leads to the second question. What is airbnb about in. Where's it going when we started airbnb. Our first tagline was travel like a human. The idea was that you were like kind of treated for who you are. And you're seen for who you are valued for who you are and that was kind of the idea. I mean it was idealistic. But i can tell you. We definitely believed it in the early days and we realized that i had these two crazy ideas when we start airbnb. These crazy beliefs and people thought i was absurd. The first idea was we thought people were fundamentally good. That sounds kind of crazy because if you open any newspaper you wouldn't think they're good. People are good wise every headline about the worst of humanity. I think there was a famous quote by a former chief justice. The united states. You said i don't read the front page of the newspaper. I read the sports section. The front pages filled the man's failures. The sports pages. Filled man successes. I kind of feel like despite what we read in the news. People are funny. Good and i can tell you that we have the data to prove it. We probably more than anyone to prove what happens. When a hundred million people live together. Mostly good things sometimes bad things but statistically people are good and the second thing is true is that people are ninety nine point nine percent the same and you would never think that today given that we are so divided and yeah we spent a lot of time energy celebrating that point one percent. That makes us different. We call that culture in other things but let's not forget that we're mostly the same deep down and if you think people are good and their most the same then you'd believe that it's better to bring them together than divide them in separate them. That was the idea behind airbnb and so real estate and housing is just the beginning. We launched a few years ago. Airbnb experiences air experiences are essentially just three hour activities where you can have a host host. One other passions. You can go to tuscany. And make pasta with grandma grandma. Non an arena. Who's like an eighty plus year old grandmother who grew up during world war. Two and tells you about living in italy during the rise of fascism and then kind of what happened after and she tells you about her famous recipe and you make pasta in her house with and then you eat around the table this alternative to going to restaurants a pretty cool alternative so we have these like really interesting experiences and i think experiences is going to be a really really big product. I thought last year was going to break out year. But of course social distancing met we put on pause but we're looking at many new ways to try just connect people again. I think this is one of the loneliest times in human history right now. I think most people listening would probably say they felt some type of loneliness in the last year. We've been so separated. And i think in life we sometimes appreciate things when they're taken away from us and human connection and travels been taken away from us and i hope that makes us value at more than ever before and i'm pretty concerned about the amount of isolation happening and i don't think that social media and digital connections are fully nourishing. We actually do need real connection with real people. And i actually think it's good. Connect people are different than you. If you wanna like bridge the divide in any country. The best answer. I've heard is to just walk in other people's shoes don't argue over the internet. No one's ever changed. Someone's mind on a youtube comment section to my knowledge. But how could you not change your mind when you walk in someone. Just home live in their home walk. In their shoes do their activities. You may not agree with them but you will find that. Most of them are good and they're mostly just like you deep
Mo Egger
Gophers bring back Johnson as new head coach
"Jeff. Poor zillow zillow of espn reporting xavier. Assistant ben johnson to be named the next head coach at the university of minnesota. Johnson played for minnesota travis. Steel hired him from minnesota as an assistant. The gophers are bringing him back home to be their head coach. So an opening on travis steel staff.
Clark Howard Show
Walmart+ tweaks to compete with Amazon Prime
"So walmart has been for the last two years trying to figure out its competitive response to the enormous success of amazon prime and walmart has walmart plus which they keep tweaking. And now i think it's tweak worthy of mentioning and considering signing up for walmart charges ninety eight dollars a year for plus and what you get. Is you get unlimited free delivery of groceries in a hurry and you get free delivery of non food items in the store or many that are available at walmart dot com. They can't be from third party. Sellers walmart would you get those delivered. Free no minimum order in one to two days although you know. I told the story recently about placing an order and i was so embarrassed because as a special toothpaste my hygienist wants me to us and it showed up two hours later at the house i thought. How much money did. I cost walmart for two tubes toothpaste that they delivered in two hours. But that's not the design. The design is really for the non-food to come in one to two days. The advantage of walmart over amazon is the prices are generally a lot cheaper from walmart than they are from amazon. But what you don't get well. Let's talk about what you do. Get you get the groceries. You know amazon's grocery thing is not robust. it's a very limited selection and generally very high prices just think of the whole paycheck influence on that. And that's why amazon is trying to morph their groceries into amazon's own grocery brand separate from whole paycheck with more competitive prices. But it's a work in progress. Where with walmart being pretty much in close proximity to ninety something percent of americans. I guess it is. The grocery prices are much cheaper than you're gonna have amazon and much cheaper from the local traditional supermarkets figure unit. Save about twenty percent on your grocery bill ordering through walmart plus you with the walmart grocery delivery tipping is expected with walmart nonfood items tipping is not part of the system so there there are nuances with it the big advantage of walmart plus over shipped and what's the other Something instacart and the other grocery delivery things is generally with those. You pay an above market price for the groceries. You're getting when you order them through one of those apps one of the participating grocery stores you're paying a different price a higher price than somebody walks in the door. The store at those grocery stores plus the delivery fees. Now you can join a membership with those but you're still paying the higher prices for the groceries then the gap between getting groceries from walmart plus and getting groceries through instacart or any of its competitors like shipped which is actually owned by target. The price gap is even larger in that case As far as what amazon offers that walmart plus does not have is the great amazon prime video streaming service the amazon music service. There's a basic music service that's included in your prime and then there's a fancy music service you have to pay for a lot of people who are Just casual music. Listeners are thrilled and happy with the amazon music service. That comes with prime. So those are achilles heels for walmart that even though it's cheaper than prime you're not getting the video or audio content. But i can't emphasize enough that day. In and day out amazon can be from moderately too much more expensive than buying from walmart. So if you are both convenience oriented and price oriented that's where walmart plus really can shine
Real Estate Coaching Radio
"zillow" Discussed on Real Estate Coaching Radio
"Basically you're asking me what they can culturally expect so culturally if you think you're just going to go up there and sped off your Dogma you're not going to because that's not the expected behavior and that and those types of environments and it's fascinating for me to watch some of these, you know people that are only used to basically doing stage presentation types having to interact with their audience and listening to them. Well because they cannot have conversations very interesting. It is interesting. So like you'll ask somebody who supposedly a resident expert on something on a particular topic. It's like talking to a politician. They're very slippery. It's like wet. Soapy. They can't answer all these phrases that don't mean any right because they can't answer the question. Yeah, cuz it's outside of their normal scope of conversation. So they're they're stage performers. They're fakers. I mean, I can't get out of my head. So I'm just going to say it. So this is a little thing that happened, you know, what them buying showing time and all these other things. I remember there was another there was a guy that we had on our podcast. I remember his name and in fact probably wouldn't mention it. But he was a broker nice guy. I don't dislike him at all. He's with the XP royalty as as are we and anyway so he he ended up working. He was a broker in Arizona you had him on our podcast really liked O J Thompson. Okay, and then he ended up working for E X or for Zillow. Okay. And again, I thought I know you're talking about right and so the job J took on at Zillow was like God. I think probably the hardest job than any human could have signed up for so his job was essentially like an every single day. It was like a suicide mission. He was supposed to go out and social networks and he did this and he was supposed to basically stamp down on the mistruths that were that he perceived were being out there about zil. I'm not sure what his real job was whereas title was but that's where he spent a lot of his time. So he would be you know, essentially not just answering but he would be confronting misinformation about Zilla quality control kind of job in essence and he did he was like you you know, the old month old days where Glenn Beck was on Fox News and he had his 13,000 dry erase boards. And there's the joke that I have lived a good life..
Bloomberg Businessweek
Bumble stock rockets 80% in first trading after IPO
"Pellet, bumble surges and its first day of trading Pot. Stocks Plunge, Stocks are trading mixed S and P fluctuating between gains and losses. Let's head right over to the first word breaking news test for today's afternoon call Here he is Bill Moloney and Good afternoon, Charlie. That's right. U S stocks trading Mixed Right now Down Strictly down, 48 Point says, impedes our little change. NASDAQ is still higher by 25. He was 10 years old at 1.16% Gold is down 18 and transports fall 29 points among the main 11 SP sectors, only tech healthcare and materials were in the green, and she was under pressure and leaders to the upside. The Dow were intel and polka Pola Well, Walgreens led to the downside. After earnings Zillow sort as much as 21% and in other news game stops. Trading is the focus of a federal probe by the team is working aggressively on the ship shortage. And like you said to Ray plunged as much as 50%. The I P o front, bumble opened at 76 was priced at 43 wrapping things up Disney report after the
MarketFoolery
High-Velocity Market Propels Zillow
"Shares of zillow are up sixteen percent this morning. Sixteen percent on the back of what has been a really good year for zillow stock zillow and red fin which isn't exactly in the same business but it's definitely in the same neighborhood. They have had spectacular spectacular years. And i have to go back. And i hate doing this because i hate giving tom gardner credit. Tom gardner was so early on zillow as being a business. That is that that is well suited to how we're going to be shopping in the future. And they are spot on and you know. They came in with revenues of seven hundred. Eighty nine million dollars. A great geographic dispersion. They've obviously benefited from the in migration. They've obviously benefited from the fact that people are making have really gotten to the point now where they're moving out of cities your they're moving to places more out of desire rather than economic necessity but yeah in always are really really great quarter for them and i think that this is just the beginning for zillow. Certainly the indicated as much in terms of their guidance because their revenue guidance for twenty twenty one was definitely upbeat and that was hot. It was hot and you know the housing market. I mean rich barton was talking about what he referred to as the high velocity market and just one set of numbers around that this past december on average existing home sold in seventeen days and a year prior the average was forty two days da even though huckabee houses in our area getting sold well. And it's you know. I think that this is one more economic data point. That is grist for the mill for people who are banging the drum of the stock market. Being overheated yeah and you know obviously the housing market is not the stock market and vice versa. And yet i can understand particularly for people who are involved in it yeah. I'm sure you know at least a couple of people. We work with a couple of people who are in the process of trying to buy a home and some of the stories. I'm hearing are borderline crazy.
Odd Lots
Cathie Wood Making Stock Picking Popular
"So tracy here's something that i never thought i would see again so i i started following markets in the late nineties The dot com era and something that i never thought i would see again in my career after that ended was the superstar fund manager. Okay why is that. Well the actually totally true. What i mean is more the superstar stock picker because of course back. In the old days there are a lot of like star stock stock pickers fund managers. You know Peter lynch comes to mind some of the other tech investors back then but these days with et fs with online brokerages that make it really easy for individuals to buy stocks on their own. It really sort of seemed to me like that era had gone bright so i suppose there was this idea that the time of stock picking has come and gone and that if you want to make returns in the market you should just poor all your money into something like an s. and p. five hundred. Etf like a vs tax or something like that and just stick with it and don't bother trying to outperform the market because over a longer period of time. Even the best stock pickers had eventually underperformed. Right i think this mantra of don't try to pick stocks. A if you try to pick stocks. You're probably going to underperform the index and be if you come across a mutual fund or a fund manager. Who's good at picking stocks. Oh it's probably just luck it's not going to last too. You know even if even if there is someone who can beat the market. How are you going to know whether it's actually worth putting your money with them until like this idea that everyone should just index Trying to beat the market is kind of a lose lose proposition. It's really been drilled into people's heads. And i think like you know for years. They're really we just haven't had a sort of another new peter lynch or buffet. There's star quantum maybe some bond fund managers who are known but the idea of like someone who is just really associated with a great track record of picking individual stocks. Hasn't been a thing for a while and yet and yet a star stock picker emerges over the horizon. Yeah executive obviously that really That for the first time in a long time there is currently a fund manager a stock picker who is a mess and incredible track record an incredible following. And of course. We're talking about kathy. Would she is the ceo and chief. Investment officer of arc invest and there is a total fascination with our and this family of actively traded. Etf a phenomenally well in terms of returns but also ex Attracted an extraordinary amount of investor cash in the last couple of years right so the arche t fs. I mean i'm looking at their performance. They have five different semantic portfolios alone. Ch- that have basically doubled over the past year. Which is pretty amazing if you think about it. It's amazing enough for just one stock to double in price like that in just the space of twelve months but to do it across multiple is really remarkable and i think within their actual portfolio. There's a tiny tiny number of stocks that haven't risen recently. And i'm not even sure there are any actually. It's a really amazing. Performance is really sure to actually. I'm looking at the end of twenty twenty for twenty twenty their performance of a r k. Which is the sort of flagship innovation. Etf that arc has was up one hundred fifty two percent for the year Extraordinary returns and if you look at the holdings they're just all of the companies that have absolutely killed it in the real environment. Tesla is the biggest one but other names square. The payments company phenomenal roku huge winner. Zillow spotify tele doc. Which of course had an incredible year. Thanks to the rise of rome medicine and so forth so it is a Just extraordinary number of winners that this There's a fund and the related funds. There's a related fund for finance and Medicine that have That they've brought it. Just the triggers incredible. If anyone follows. Eric balchunas who's sort of bloomberg intelligence is etf analyst. I feel like three quarters of his tweets. These days are just about. How extraordinary this Family of funds and the performance of arc invest has been lately.
The Smoking Tire
Interview With Racing Driver Alexander Rossi
"Okay folks. This should be fun. We've got a famous racing driver on the show alexander rossi's in the house. This dude races indycar. He races prototypes. He's had a hand in bathurst sat. Hand formula one. He sat a hand off road. And he's telling us stories about all of it. Alexander rossi is on the smug tire podcast. It's from indiana alexander. Rossi is in the house or virtually. What's up man not much. Thanks for having me your welcome. Thank you for dive bombing in zach. Let's get him back. Because i don't wanna look at me. The audience wants to see alex and yet there is with a beautifully soft zoom background approp- appropriate for working from home. Welcome thank you. I'm i'm happy to be here. Happy that in this day and age we can still at face to face contact. Bertish again which i would have bought zoom stock Year ago a year ago the were skype was verb skype. Nothing anymore but that was like skype was the was kleenex a year ago. Where do they go. I mean has anyone dropped the ball harder than skype zooms product. Really that much better though. I think i think we'll we're not we don't use zoom we're using switzer cast but zoom. I think zack zoom the first one to do the the multiple boxes. Zillow allow you to do group chatting. Can you do that on skype Skype followed zoom and skype is far worse. It's quite bad okay. I guess that's that's be it was all about all about the group chat presume I just want to start with like what the hell is it. Like to be a racing driver in the last twelve months like is it. Weird is it. It's less cool than it was fourteen months ago. Just it's it's amazing. How much the fans. I mean to any sport but yeah to racing. You know there's because we don't really see them in the middle of race because you're in a car and it's not a stadium type sport so much of the pre event build up. An energy is all fan related. So that goes away. You're kind of like on the grid about to do this race when it's kind of like cool. This is weird. I feel your practice or something's a practice race. Shouldn't something like that. Because you're right. Show the driver introductions and the fireworks and the parade lap and all that sort of thing and when that goes away. You're just getting in your car and driving around in circles to people have they done. Did they have they tried to do. I mean look. Obviously everyone's doing doing their best to make make it work and keep keep people employed and keep people entertained and you know from drivers to crew people to whoever tv people and whatnot. Have they tried to do anything. That was really a good faith effort to take something that was formerly in person and and make it virtual where you're just like. Oh god this does not work. Yeah kind of and like it's a good segue like. I'm so thankful that we're able to get a season in the first place right. That was always a big concern. When this when this all kind of kicked off on march like are we going to raise his racing exists and all this stuff so it was a huge effort from the promoters in the series teams. All kind of finagle. Their way and make make a season happen but yeah the series tried a lot of different virtual kind of fan meet and greets in sponsor appearances. And it was. It was a necessary evil. Sure but i about the fact that. I just cannot wait for the day that you were back to in person attendance. Just because it's so it's so strange because sometimes like you have these these meet and greets but like people don't really wanna talk to you so you're just sitting there trying to engage audience. That doesn't have anything to ask. And you're like well. I have this for launch. Today i grew up in california. And it's just it's very strange. You lose that human to human interaction but nonetheless we're all adapting. It's all good. It's a it's a very much a first world problem and on unhappy to to start the season here next weekend.
Real Estate Coaching Radio
"zillow" Discussed on Real Estate Coaching Radio
"Three to one. And we're actually. It is january the twenty ninth and we have a podcast today which is discussing bombo bump ball so all the changes that they're doing a lot of chatter online about this. There is a lot of chatter online and We're going to do our best to clarify and go through the specifics of what is happening. Now with zillow and essentially then becoming a national real estate brokerage and being your primary competitor and a lot of your markets and all the little things are going to be a essentially. Try to get in between you and your customers. We've been warning you guys about this forever and here's really the bottom line. If you're one of the agents that's been feeding your competitor is zillow as they've been essentially spending up to become a you know a broker down the street. That's going to try to take your business well in you didn't listen. You kept on spending money with them. Because you were didn't know how to generate your own byerly it's while you're gonna unfortunately probably suffered the worst because what we're saying this again. What we've been telling you guys about for years now is zo. Inevitably was going to get in the brokerage business. They had to continue just show value to their shareholders. There's only so many different parallels they could be getting into in the selling agent space selling agent leads space and of course they're going to get to the brokerage business and when they pivoted aggressively towards the buyer space jillian. I said straight up you past. Podcast there is zero chance. They're not gonna be getting into the real estate brokerage business because we knew and you guys should hopefully know by now that one of the primary benefits of the airspace as it turns off a lot of it creates a lot of Seller leads in those seller leads. Then you run an ad for an eye buyer type situation where seller can wholesaler house or sell it at a discount convenience fee as jillian coined it to sell the house without the normal. You know. let's be honest. Hassles of retailing. A house unless sellers are gonna be willing to do that. They had the cash flow and they can maybe leave a couple twenty grand or thirty grand on the table and not have to deal with all the you know the showings and the conditioning of the house. And all that. Yeah a lot of people are gonna be willing to pay that and you should not be surprised because very rarely despite what you might think very rarely is the most important thing to the seller. The price mo- sellers most everyone you included. Listeners are more focused on essentially stress-free convenience hassle free. And you're gonna be more than willing to pay for that. And that's what these i- buyers represent to consumers but our focus has always been agents brokerage the actual real estate industry boots on the ground entrepreneurs of you folks so we've been warning you that it's inevitable that zillow was going to get into the brokerage business and of course they are now in the brokerage business and they're going to be coming to a hypothetical street corner either real or virtual near you sometime soon. It's going to be called zillow homes. This is not made up. This is not speculative it will be zillow homes right and so what is the advantage that zola has in the marketplace huge advantage. Many places in the country people were often refer to searching for a house on line. they don't even say searching their replaced it with the words zillow ing going to zillow zillow has created a really relatively short period of time a stellar brand and from a consumer perspective their interface. And let's give credit where credit is due. They have become a very very effective company. That's servicing consumers right so the consumer interface on their app and their phone is vastly superior to anything else. That's out there including realtor dot com. And you know we can bemoan history. Oh we want to but the reality of it is that is what it is so now that zillow is officially in the brokerage business. And they're going to be competing with you. I want to be very clear case. We have not been clear about this before one of the main benefits of running an eye by our program from a lead generation perspective is. You're going to get a lot of sellers that would consider the buyer be willing to pay the convenience fee then decide not to decide to retail the house. Now a lot of you are aware again. Hopefully you are aware because you've been listening to us. That zillow is then going to be feeding those resale leads to their in-house agents and then they're going to be listing those resales in some markets. They're still selling those leads to agents at like a ridiculous referral th-they but that's going to be ending soon. So what you're going to be looking at is the sea change in the way essentially zillow interacts with you. Because they're taking the gloves off and you're going to see they've had dig gnarly fists hiding underneath those nice little velvet gloves for over fourteen years now and you've just not even wanted to realize it. Now why did you have realized that you just didn't care because you didn't know of any other way to generate your own business because you didn't know how to generate listing leads zillow's achilles heel has always been that they have to essentially piece the real estate industry because at the time they weren't a real estate brokerage and they had then they had like i think was julie fiber hundred or thousand remember individual relationships with individual brokerages to get their individual listings fees. So zora had to go out to the marketplace and go directly to brokers and sort of bypass the whole system so they can have listings on their site but that was a competitive disadvantage them because realtor dot com always had the newest listings. 'cause realtor dot com obviously was plugged into all the molasses. Guys understand
Real Estate Coaching Radio
Is Zillow About The Be YOUR Biggest Competitor
"Three to one. And we're actually. It is january the twenty ninth and we have a podcast today which is discussing bombo bump ball so all the changes that they're doing a lot of chatter online about this. There is a lot of chatter online and We're going to do our best to clarify and go through the specifics of what is happening. Now with zillow and essentially then becoming a national real estate brokerage and being your primary competitor and a lot of your markets and all the little things are going to be a essentially. Try to get in between you and your customers. We've been warning you guys about this forever and here's really the bottom line. If you're one of the agents that's been feeding your competitor is zillow as they've been essentially spending up to become a you know a broker down the street. That's going to try to take your business well in you didn't listen. You kept on spending money with them. Because you were didn't know how to generate your own byerly it's while you're gonna unfortunately probably suffered the worst because what we're saying this again. What we've been telling you guys about for years now is zo. Inevitably was going to get in the brokerage business. They had to continue just show value to their shareholders. There's only so many different parallels they could be getting into in the selling agent space selling agent leads space and of course they're going to get to the brokerage business and when they pivoted aggressively towards the buyer space jillian. I said straight up you past. Podcast there is zero chance. They're not gonna be getting into the real estate brokerage business because we knew and you guys should hopefully know by now that one of the primary benefits of the airspace as it turns off a lot of it creates a lot of Seller leads in those seller leads. Then you run an ad for an eye buyer type situation where seller can wholesaler house or sell it at a discount convenience fee as jillian coined it to sell the house without the normal. You know. let's be honest. Hassles of retailing. A house unless sellers are gonna be willing to do that. They had the cash flow and they can maybe leave a couple twenty grand or thirty grand on the table and not have to deal with all the you know the showings and the conditioning of the house. And all that. Yeah a lot of people are gonna be willing to pay that and you should not be surprised because very rarely despite what you might think very rarely is the most important thing to the seller. The price mo- sellers most everyone you included. Listeners are more focused on essentially stress-free convenience hassle free. And you're gonna be more than willing to pay for that. And that's what these i- buyers represent to consumers but our focus has always been agents brokerage the actual real estate industry boots on the ground entrepreneurs of you folks so we've been warning you that it's inevitable that zillow was going to get into the brokerage business and of course they are now in the brokerage business and they're going to be coming to a hypothetical street corner either real or virtual near you sometime soon. It's going to be called zillow homes. This is not made up. This is not speculative it will be zillow homes right and so what is the advantage that zola has in the marketplace huge advantage. Many places in the country people were often refer to searching for a house on line. they don't even say searching their replaced it with the words zillow ing going to zillow zillow has created a really relatively short period of time a stellar brand and from a consumer perspective their interface. And let's give credit where credit is due. They have become a very very effective company. That's servicing consumers right so the consumer interface on their app and their phone is vastly superior to anything else. That's out there including realtor dot com. And you know we can bemoan history. Oh we want to but the reality of it is that is what it is so now that zillow is officially in the brokerage business. And they're going to be competing with you. I want to be very clear case. We have not been clear about this before one of the main benefits of running an eye by our program from a lead generation perspective is. You're going to get a lot of sellers that would consider the buyer be willing to pay the convenience fee then decide not to decide to retail the house. Now a lot of you are aware again. Hopefully you are aware because you've been listening to us. That zillow is then going to be feeding those resale leads to their in-house agents and then they're going to be listing those resales in some markets. They're still selling those leads to agents at like a ridiculous referral th-they but that's going to be ending soon. So what you're going to be looking at is the sea change in the way essentially zillow interacts with you. Because they're taking the gloves off and you're going to see they've had dig gnarly fists hiding underneath those nice little velvet gloves for over fourteen years now and you've just not even wanted to realize it. Now why did you have realized that you just didn't care because you didn't know of any other way to generate your own business because you didn't know how to generate listing leads zillow's achilles heel has always been that they have to essentially piece the real estate industry because at the time they weren't a real estate brokerage and they had then they had like i think was julie fiber hundred or thousand remember individual relationships with individual brokerages to get their individual listings fees. So zora had to go out to the marketplace and go directly to brokers and sort of bypass the whole system so they can have listings on their site but that was a competitive disadvantage them because realtor dot com always had the newest listings. 'cause realtor dot com obviously was plugged into all the molasses. Guys understand
Real Estate Coaching Radio
New Agent (or Returning Agent) Immediate Action Plan
"Three to one and we're back. It is january the twentieth. It is inauguration day. I understand our new president will be standing in front of a bunch of lights and flags as he takes the oath of office. Not quite the same as a normal inauguration but a historic day nonetheless. And that's the end of our political banter for today's podcast actual factual okay. So we meant to talk about this topic yesterday and frankly we got hooked into talking about zillow which was something that. I'm glad we talked about because many of you reacted very positively as we were. I think confirming a lot of your suspicions. About the fact that zillow is definitely not your business partner in the sense that You know a business partner abnormal normally be helping you and your business lewis definitely been waiting in the tall grass for over a decade Essentially to displace you to disinter mediate you and clearly. That is what they're doing so we talked about that yesterday. Make sure you listen to yesterday's podcast the day before that we were talking about this very topic in this topic is something that is near and dear to our hearts because of the fact that we have so many people joining our coaching business You know coaching business focuses primarily on teaching agents that complete system a system. That's designed to get them into taking listing so our businesses primarily focused on agents. Who will learn how to be listing agents. Because frankly we know. Obviously we touch on the buyer side. We touch on building team writing staff. We do all that stuff. But we want your focus on being powerful listing agent. Because that is where you ultimately get the most leverage that is regenerate the most profits. Frankly and that's how you create a real business Focusing on buyers as we discussed yesterday a bit of a perilous path going forward. If you have not listened to that podcast please listen. Because i think you'll be very very clear that the buyer agent business as it's been really i think prevalent since the ninety s when buyer agents became a thing. I think you really gonna discovered that might not be the future you over invest in giving what zillow and so many other companies are doing so. Please go back and listen to a podcast from yesterday. But today's podcast is a continuation. It's a focus on what action steps. You should be taking now. If you're a new aged or really. I returning agent and my by returning. I mean getting back in the business but maybe returning emotionally to recommitting to your real estate career. Is that about right julie. That's right. So i think a lot of these points. Apply to everyone as a revisit to your education. You can take any one of these points even if you are a fairly grizzled veterans. You know what. I need to brush up on that. I find that you know embracing the fact that knowledge equals. Confidence in ignorance equals fear. That's one of the core things here right. So i find a lot of returning agents new agents newer agents. They have kind of like an education deficit and experienced deficit. And that's really hard to just like give someone but these points are designed to shorten that learning curve. You have to acknowledge the fact. And i don't want to. We won't drill down on this too far. But it's really important that you acknowledge the fact that You're probably in a there's what four distinct arguably five distinct phases of learning phases of mastery. There's a incompetence conscious competence. There's there's what's the next one. Let's say you start out unconsciously incompetent. These views means. You don't know what you don't know literally what they mean unconscious incompetent. You don't even know that their stuff you don't know until usually something kicks your butt and then you move into the next stage which is consciously incompetent now. You have an awareness of your incompetence. This is usually when people invest in coaching Then you start to have conscious competence. You are working on your skills but you still have to be conscious of the competency. You're working on like getting your relisting package in gear and having a really great predictable listing presentation but you having to make the efforts. You're consciously competent. It takes mental and emotional effort. Because it's not you're not on autopilot in the last basis unconscious competence. That's where you don't have to think about it anymore. And then some people would argue that. There's a face beyond that but just for the sake of expediency and explaining what we want you guys to understand is chances are if you're new. Well not chances are if you're new in the business you're unconsciously incompetent in other words you don't know what you don't know if you're a returning in the business maybe you've had a bunch of false starts. You're in that same face to and that phase is not something to be ashamed of. That phase is something to be embraced because it means that you're basically a blank slate. Now this is also the most vulnerable phase that you can be and because you're gonna be susceptible to charlatans you're gonna be susceptible to snake oil salesman you're gonna be susceptible to people selling your shiny objects
Real Estate Coaching Radio
"zillow" Discussed on Real Estate Coaching Radio
"They don't have to the sellers nephew anything to fix up the house. The seller doesn't have to even worry about showings and so You guys will not realize that the fact that the seller is taking less money means less to them than the convenience of basically having to sell the house with no hassle so what we ask you guys to consider is these. What they're doing is they are offering less to the seller. Your assuming and you're making a mistake doing this the seller the most important thing to the sellers their net. It's usually not. It's the convenience and so the reason that they've been willing to pay us commissions. All these years is because we offer more convenience than them trying to sell it without us right and so these i- buyers are doing is. They're basically charging a liar a larger convenience fee. Let's say that in the form of a discounted purchase price but they're giving more convenience and they're giving more convenience exactly they're taking the hassle. they're making a sellers. Sell of the house virtually hassle free. And that's something that most traditional real estate brokers aren't understanding and again so let's say they call a zillow agent out besides what we're going to be competing against listeners. In however many of you are still spending money with zillow and you don't realize that they're going to eat. Your lunch is just mind. Boggling zillow homes and read up by the way guys what happened all your zillow reviews our competitors were telling you to invest hours and hours and trying to get what happened all those. Have you looked at your zillow reviews. They're all gone your home. Sales data is gone. If you if you want any clear evidence that zoe's your competitor and they're not going to be very nice competitor or you know a collaborative competitor just looked to see how they're positioning themselves. They're being smart. Business people are you. I mean that's really the question so if somebody in your marketplace starts advertising someone in your marketplace is zillow realtor and they go out there and they present the there i by our offer to the seller the seller is going to say no. That's too low and you guys think that's the end of the conversation was though it's not now they're going to say well. Okay let's do this. Let's just go ahead and get the house listed for sale retail and after we after doesn't sell after certain amount of time mr seller then we can maybe look back at the buyer offer and we can sell the house and make it more convenient for you. Do you see. And so what. The industry our industry is doing..
Cyber Security Headlines
Cyber Security Headlines 15th January 2021
"Packers waltzed past mfa used by seesaw. On cloud. Accounts multi factor. Authentication is one of the strongest security protocols. We have but it's not infallible on wednesday. The us cyber security infrastructure security agency revealed that malicious actors bypassed mfa to get into its cloud service accounts cease said that the threat actors had tried multiple times to breaches systems by various tactics including fishing brute force logging attempts and possibly a pass the cookie attack which involves the theft of authentication cookies from browsers and related processes. That's how the attackers were able to hijack an authenticated session by using stolen session cookies to access ceases online services social media convulses after capital attack. A widespread shakeup is underway facebook's yanking posts of flyers promoting events leading up to biden's inauguration as terrorism and cyber experts helped the platform to ferret out images calling for harm the walkie talkie app zillow which hasn't proactively moderated content has deleted over two thousand militia related channels after finding it was used by insurrectionists and parlor the social media app favored by trump supporters. May never come back for having been scraped off the app. Stores kicked out by slack and cut by amazon. Ceo john matzec told reuters parlor filed charges on wednesday asking for amazon to be forced to restore its service. Google fixes bug that delayed kovic contact tracing apps. The api bug affected contact. Tracing apps worldwide delaying notifications sent to android users. The apps are built on top of the exposure notification system an api that google released jointly with apple to help health services develop contact tracing apps it looks like the problem only manifested on android devices. Not on ios the api. Let's developers create contact tracing tools that protect privacy by relying on bluetooth to exchange anonymous keys between smartphones an easy way to warn users if they've been in contact with someone who later tested positive apple yanks feature that lets apps bypass mac. Os firewalls and vpn's has removed the content filter exclusion list from mac. Os eleven point. Two beta to k known as big sur. The controversial feature had allowed fifty three of apple's own apps to bypass third party firewalls security tools and vpn apps that users themselves had installed for their own protection. The list included some of apple's biggest apps such as the app store maps and i cloud security researchers had discovered the problem this past october and had called it a security nightmare waiting to happen
WTOP 24 Hour News
Million-dollar homes: There are now 8 cities in Washington DC area where median home price is $1M
"Incorporated cities in the U. S metro areas with typical home value of at least a million dollars, and that's 45 more than a year ago. The Washington Metro, there are now eight incorporated cities with a median home value of Maura than $1 million, up from four a year ago. Chevy Chase. Maryland tops Zillow's local list with the median price of $1.3 million Other million dollar cities include Great Falls, Chevy Chase