The market went south, but consumers' appetite for power buying didn't, according to a new report from real estate marketplace zavvie
Homebuyers can use the Knock Home Swap Equity Advance in conjunction with a purchase loan from any lender to make a non-contingent offer when buying their next home
The 6-month loan is a component of Home Swap that allows clients to prepare a home for market through basic repairs, small finish upgrades, painting and other items buyers look for in a home
The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to 'right size' and helped crown a new leader in mortgage lending
Heyl said his company is built to handle down markets. He spoke with Inman ahead of Inman Connect New York, where he’ll be talking about tech, data and the biggest trends in 2023
One-time Inman New Kid on the Block, Zoodealio's updates adjust to new purchasing models created by the mortgage-hybrids, and introduce another way to sell: Cash+
In an email on Monday, a spokesperson for the power buyer confirmed to Inman that the company had laid off workers and would now 'be a company of less than 30 people'
The cuts are the second time the power buyer has reduced its workforce as the market has rapidly deteriorated this year
At Connect Now on Thursday, moderator Clelia Peters was joined by Eddie Lim who founded Point after he found himself rattled by the traditional process of trying to access home equity
The power buyer previously cut 20% of its staff in August. The cuts come as the broader real estate industry grapples with soaring mortgage rates and slowing sales
Knox Certainty is a program in which the company becomes the lessee to its homeowner client to augment their ability to qualify for the mortgage on the next home
Opinion
Billions of dollars have been invested to disrupt the mortgage process — which is the path to profitability for many real estate tech companies
Less than 2 months after layoffs, the power buyer is now in 17 states and says it's still on track to meet a goal of being operational in half of the US by the end of the year
At Inman Connect Las Vegas, John Paasonen of Maxwell and Robert Foos of Knock said agents and buyers have an opportunity to be selective in the current market when it comes to financing
Knock and HomeLight CEOs are witnessing a sea change as the market shifts, but they said that doesn't necessarily mean buyer and seller appetites for cash offers will change anytime soon