As the real estate market softens, Opendoor’s bottom line appears to be following suit. The iBuying giant is for the first time selling homes at a loss. Analyst Mike DelPrete said in a research note it’s the result of a fast-changing market, cooled by rising mortgage rates and stock market uncertainty. Those factors have combined to hurt home values at a time when Opendoor is on the hook for properties it picked up in a
Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Cross Post, Home Page, Residential Real Estate, opendoor The Real Deal New York Read More
