|Bid||16.90 x 900|
|Ask||17.10 x 1000|
|Day's Range||16.83 - 18.08|
|52 Week Range||13.50 - 23.47|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Zillow Offers is live in 16 metropolitan areas across the country with 10 more planned by mid-2020, and RedfinNow is live in seven cities. Neither company has plans to offer home-buying services in Seattle.
Technology is starting to upend the staid real-estate market and Craig-Hallum analyst Brad Berning thinks that Redfin and RE/MAX “are positioned to be winners.”
(Bloomberg) -- Even before Amazon.com Inc. completes its northern Virginia office hub, the e-commerce giant has helped make the area the most competitive housing market in the U.S.It’s hardest for buyers to win a home in Alexandria and Arlington, cities near Washington’s Reagan National Airport and close to where Amazon is building its East Coast headquarters, according to a study by Redfin Corp. The brokerage’s analysis factored in bidding wars, waived contingencies, above-list-price offers and how fast properties went under contract.Homes that sold last month were on the market for a median 11 days in Arlington and 14 days in Alexandria, about a week less than in the previous July for both locations. That compares with 27 days in the Washington, D.C., metropolitan area and 38 days nationally. About 57% of homes near Amazon’s northern Virginia site were snapped up by buyers in two weeks or less.In Seattle, where Amazon is based, locals blamed the company’s rapid growth and big paychecks for helping to fuel a housing affordability crisis. In the area around the nation’s capital, investors are bidding up prices, anticipating that they’ll be rewarded over the next decade with the arrival of tens of thousands of workers earning an average of $150,000 each.“The Amazon HQ2 effect has become a permanent factor in the Arlington and Alexandria housing markets,” local Redfin listing agent Marcia Burgos-Stone said in the report. “Some sellers are still opting to hold on to their homes and wait until it becomes a more concrete reality in the hopes that they’ll get more money. This has led to a shortage of homes for sale, which puts pressure on buyers who are concerned that they’ll be left behind if they can’t find a home before things get too heated up.”In both Arlington and Alexandria, the number of homes for sale fell by about 50% in July from a year earlier, Redfin said.The brokerage’s analysis assessed a “compete score” on a scale of 0 to 100. In markets that score above 90, most listings get multiple offers, and contingencies -- such as appraisals or inspections -- are often waived. Arlington and Alexandria each scored 96, along with Grand Rapids, Michigan, a city with a strong economy, growing job market and relatively affordable prices, Redfin said. Following were Tacoma, Washington, with 95, and Oakland, California, with 93.To contact the reporter on this story: Prashant Gopal in Boston at email@example.comTo contact the editors responsible for this story: Debarati Roy at firstname.lastname@example.org, Christine MaurusFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
As Redfin expands its direct homebuying and mortgage businesses, the Seattle-based brokerage is growing its footprint outside the city. The RedfinNow team is equally split between Seattle and Dallas, but team lead Quinn Hawkins said the Dallas base will ultimately grow faster than Seattle. RedfinNow’s Dallas employees do estimation, vendor management and payment planning, though the company also established Dallas as its first engineering hub outside Seattle and San Francisco.
If you own shares in Redfin Corporation (NASDAQ:RDFN) then it's worth thinking about how it contributes to the...
Redfin (RDFN) delivered earnings and revenue surprises of 6.67% and 3.88%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Shares of Redfin Corp. rallied in the extended session Thursday after the real estate company reported a second-quarter loss in line with expectations and sales came in above forecasts. Redfin said it lost $12.6 million, or 14 cents a share, in the quarter, versus a profit of $3.2 million, or 4 cents a share, in the second quarter of 2018. Revenue increased 39% year-over-year to $197.8 million. Analysts polled by FactSet had expected a loss of 14 cents a share on sales of $191 million. "The second quarter is a turning point for our company," Redfin Chief Executive Glenn Kelman said in a statement. "Year-over-year growth in website traffic, brokerage sales, and revenues overall accelerated for the second straight quarter. Our new businesses have built the infrastructure and delivered the results needed for more rapid expansion," he said.
Redfin (NASDAQ: RDFN ) announces its next round of earnings this Thursday, August 1. Here's Benzinga's look at Redfin's Q2 earnings report. Earnings and Revenue Analysts are expecting Redfin to report ...
Redfin (RDFN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
By buying a home through TurnKey, Amazon will offer smart-home products like Echo and Ring, plus moving services.
A new partnership between a traditional real estate brokerage and a new tech-enabled disruptor points to a real estate market in the middle of immense flux, trying to offer all things to all consumers.
Redfin’s site traffic provides a cost advantage in customer acquisition, enabling the company to offer lower-cost services, Hargreaves said in a Thursday initiation note. Passing along these costs savings adversely impacts Redfin’s profit outlook, the analyst said, adding that the company has not demonstrated an ability to simultaneously gain market share and drive margin expansion.
How much information do Realtors keep among themselves, and what should be made transparent to housing market buyers and sellers?
Henry Ellenbogen, a Barron’s Roundtable panelist and former T. Rowe Price fund manager, says investors will “worry more about the presidential election and question what will drive economic growth.”
On Thursday, Redfin announced a partnership with Opendoor, allowing home sellers in Phoenix and Atlanta to request an Opendoor iBuyer offer directly through Redfin’s website, where homeowners can request an instant offer as part of their home sale process, Arounian said. “The partnership will begin in Phoenix and Atlanta initially, where it is already live, and likely expand to more markets if successful,” the analyst wrote in the note. “Redfin will also market Openhdoor’s homes on Redfin.com which should help increase the amount of inventory and traffic coming to the site,” he said.
Redfin and Opendoor team up in Phoenix and Atlanta. Here's what that means, and how it's a win for you as a homebuyer or seller.
The Fed doesn’t need to cut rates to prevent a recession, but it does have the opportunity to cut rates to help more people find jobs and get higher wages, writes Tim Mullaney.