Redfin

Like I've been curious about that, too.

So I called Daryl Fairweather, the chief economist at Redfin.

And you probably remember we spoke to her before.

She's just really good at tying these kinds of threads together.

So it makes sense in the short term, but in the long term, the benefits of homeownership is that you kind of know what your payment's going to be.

But for now, a lot of people are turned off by how high those payments are because of high mortgage rates.

One thing I wanted to ask you about today is there was a recent report that Redfin just put out.

It's called A Tale of Two Tech Cities.

For a half a million dollar home, your monthly payments would be over $1,300 more than five years ago when rates were below 3%.

Redfin says the median home price is up 2% over the last year to nearly $400,000.

The jump in mortgage rates in large part because of the prolonged conflict with Iran, where higher energy costs have raised expectations that the Fed will have to raise rates this week.

Home sales fell 2% last month as realtor Carrie Adams says she's noticed a change in buyers.

With a lot of strategies, you know, buy and hold strategies, that's going to be tough, right? So you got to make sure that you have that laid out first before you actually put together your buy box.

But once you have those things in place, and this is a mistake that I see a lot of rookie investors make, is that they start by going into Zillow or Redfin and seeing what's for sale.

And they just kind of scroll until they find something that kind of like looks nice.

And then they back into, okay, do I think this is actually a good deal or not? But the whole purpose of the buy box is that before you even hunt for anything that's for sale, you're doing very deep and thorough research on the market to understand what is already proven to do well in this market.

So there's other ways to get discounts instead of just getting, you know, a cheap property, a better deal.

Step number two, or strategy number two, is one of the easiest.

And it's just starting with the MLS, Zillow, Redfin, the places that you're probably doom scrolling already.

But this is best for rookies that are looking for just kind of a quick and efficient way to get a

And this is kind of back in the day, but- One of the reasons that they do that is because you can't populate a property map of the entire US with as many properties as is on some of those marketplaces without causing major issues, like major speed issues.

So if you go to Zillow or Redfin, they don't even allow you to see the map until you type in a location.

And that's the reason why.

So the land marketplaces are like that.

She's like, your customer journey has to be very seamless from the time they land on your website.

They've got to know where to go and it's got to be easy to navigate and it's got to be familiar.

Everybody that's out there buying real estate, they're familiar with Zillow and Redfin.

Zillow and Redfin have a property map and they've got filters.

So check this one out.

This one is, this one's on Redfin.

It says, it's now the strongest buyer's market on record, driven by the Sunbelt.

The surplus of sellers over buyers hits record high.

Hopefully they're trying to win in arbitration.

Zillow also is getting sued.

Zillow exec sued over Redfin rental deal and 81 million in stock sales.

Can you say insider trading? A Zillow shareholder has filed a derivative lawsuit against CEO Jeremy Waxman and other current and former company officials, officers, and directors alleging they failed to adequately disclose antitrust risk tied to zillow's 2025 redfin rentals agreement and the certain insiders sold more than 81 million in company stock before those risks became public the september 9th complaint filed in king county superior court in washington accused the defendants of breaches of fiduciary duties unjust enrichment and waste of corporate assets the suit was filed derivatively on behalf of zillow meaning that the shareholder is seeking to recover for alleged harm to the company itself and then so they still sold 81 million dollars in stock and then news broke and the guy is like well y'all knew this news ahead of time Among the complaint's most significant allegations is that Waxman and seven other Zillow executives and directors sold more than $81 million in personally held Zillow stock, while allegedly possessing material non-public information about Redfin agreement and the antitrust risks surrounding it.

This is the kind of, uh, the kind of properties you wanna buy," blah.

And so in those days, there was no, there was no Redfin, there was no Zillow, so it was like, uh, it was MLS on a computer at the office, and the binders of properties, so one sheet per property.

So, and I started looking at all these properties, these listings, and et cetera.

And I probably analyzed, like, 4 or 500 properties-

So but technology changed.

So the iPhone came, happened with cameras, and you're able to send videos to people, and DocuSign happened, where you're able to sign like things electronically.

And Redfin happened and Zillow.

Mm.

Like I said before, the data is there.

If Redfin says 40,000 deals collapse based on structural and foundational issues, it's the data.

It's there.

So buyers are bleeding.