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Home » Realtors say instant offers, flipping are inflating Triangle home prices
Real Estate

Realtors say instant offers, flipping are inflating Triangle home prices

Press RoomBy Press RoomNovember 3, 2021No Comments2 Mins Read0 Views
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Zillow is trying to sell hundreds of homes it owns across the Triangle as the company gets out of the instant home buying, or iBuying, business.

COVERING A VIDEO OR HOME VISIT THE SAME AS VISITING A DOCTOR IN PERSON. >>> ZILLOW IS TRYING TO SELL HUNDREDS OF TRIANGLE HOMES AS THE COMPANY GETS OUT OF THE INSTANT HOME BUYING BUSINESS. WE REPORTED RECENTLY HOW BUYERS ARE FLIPPING HOMES DAYS AFTER BUYING THEM, SOMETIMES FOR TENS OF THOUSANDS OF DOLLARS PROFIT. NOW BUYERS COULD BE IN FOR A REAL DEAL. >> Reporter: THE SILL LOWE’S HOME FOR SALE SIGN IS UP. >> EVERYBODY LOOKED AT ME FUNNY WHEN I SAID I SOLD THE HOUSE TO ZILLOW. >> Reporter: ZILLOW MADE A CASH OFFER $37,000 OVER ASKING PRICE. >> I WOULD HAVE MOVED DOWN THE STREET TO SELL FOR WHAT THEY WERE OFFERING US. >> Reporter: BUT DAYS LATER, THEY LISTED THE HOUSE FOR $16,000 MORE. >> HOW DO THE INFLATED PRICES AFFECT THE ENTIRE MARKET? >> THERE IS STARTING TO BE INFLATION IN THE MARKET, NO DOUBT. >> Reporter: ZILLOW WAS LISTED AS THE OWNER OF 211 HOMES IN THE STATE. >> WE NEED TO BE VERY CAREFUL ABOUT HOW MANY HOMES THEY ARE BUYING PER MONTH AND WHERE THEY ARE SELLING THOSE HOMES FROM A PRICE STANDPOINT. >> Reporter: THEY COULD GET A DEAL AS ZILLOW WINDS DOWN. HE’S GLAD HE CLOSED ON THE SALE WHEN HE DID. >> IF THEY BUY IT INFLATED IN THE FIRST PLACE, THOUGH, THEY WILL DROP IT. >> ZILLOW TELLS WRAL THE HOMES

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Previous ArticleZillow may have helped drive up Triangle real estate prices, but its decision to exit could lead to deals
Next Article ‘Luxury’ farm in White Oak expected to sell for millions

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