Opendoor Update

Opendoor has changed!  They are now offering very low prices for homes.  I’ve talked about Opendoor a few times before so let me give you an update.  In 2021, the company was overpaying for many homes.  When Zillow stopped competing with them in late 21, Opendoor began to moderate what they would pay.  Then market prices started dropping in the spring all across the country.  Opendoor was left holding over 25,000 homes that they had bought at higher prices.  They’ve lost a lot of money as they’ve sold them for less than they paid.  Their stock has been hammered.  Now, they are offering sellers very low amounts to buy their home.  A recent example – I listed a home for $385,000.  We put it under contract without having to move much.  I asked Opendoor to give us an offer on that property – their price was $282,000.  Please, if you are thinking of selling to Opendoor, contact me because you can do better!