OPEN stock- Any Opinions?

[UnrealizedPotential]

So I took a small position in Open stock. Opendoor technologies, which is an ibuyer, instant buyer . A company which buys and sells homes online. Does anyone else have a position in this stock? Does anyone have an opinion whether ibuying will be a good investment or not very good at all?

I am kind of lukewarm on the idea. I have a position, but a small one. I am just not sure what to make of it. Anyone have any insight whether positive or negative or maybe somewhere in between on OPEN stock.

 

[Aerides]

Hmm, given how Zillow just shuttered this line of business, what makes you think Opendoor is going to do it better?

Interesting timing, this piece on CNN today.

"you can have a real estate agent look at a house and in one second pick out one critical factor of the valuation that just doesn't exist as ones and zeroes in any database"

https://www.cnn.com/2021/11/09/tech/zillow-ibuying-home-zestimate/index.html

 

[UnrealizedPotential]

Hmm, given how Zillow just shuttered this line of business, what makes you think Opendoor is going to do it better?

Interesting timing, this piece on CNN today.

"you can have a real estate agent look at a house and in one second pick out one critical factor of the valuation that just doesn't exist as ones and zeroes in any database"

https://www.cnn.com/2021/11/09/tech/zillow-ibuying-home-zestimate/index.html

I am not sure at all, that's the thing. However, one reason that Opendoor could do better is its algorithms are better at pricing homes than Zillow had, at least that is what some say. Tomorrow is the earnings report and as far as I am concerned will go a long ways in determining whether I keep what little I have in it or sell out.

Another reason Opendoor could do better than Zillow is Zillow started out as showcasing homes online and then tried to transition to becoming an online buyer of homes. That is a vastly different business. Opendoor has been an ibuyer since inception in 2014 and ibuying is its lifeblood. But again, I am not sure of anything and thus my small position as I am still learning, I just wanted to see if anyone had any thoughts.

 

[aja8888]

Zillow overpaid using an AI algo to price the thousands of houses it bought last Spring/Summer/Fall. Now it has 9,000+ houses on sale at less than they paid for them and housing, in general, is taking a pricing breather, which may lead to lower prices overall.

I'm not so sure I would buy into any of these online housing schemes as things may get soft as we go into the holiday season and beyond.