Home › Forums › Housing › Zillow bought a house in a neighborhood where I’m active › sdrealtor wrote:Zillow just
[quote=sdrealtor]Zillow just bought this one in MM for $787,500. That is full retail on it. It may even be a touch high for this one in that condition. They put it back on at a price that is no better than breakeven if they get that price.
https://www.zillow.com/homes/10842-Whitehall-Rd-San-Diego,-CA-92126_rb/16788569_zpid/%5B/quote%5D
So looks like flipping in a hot market isn’t so easy if one isn’t nimble:
https://www.bloomberg.com/news/articles/2021-10-26/zillow-s-zeal-to-outbid-for-homes-backfires-in-flipping-fumble?sref=AtMgUiWa
Part of me wants them to succeed but not sure this is the model. In fact, I’m fairly certain Zillow flipping is not the way to go.
