Opendoor Currently Holds 17,733 properties across the US

[Tim G.]

I've been watching Opendoor since almost selling a home to them last year, they backed out at the last minute from an offer so crazy I felt certain their future was already written. I ended up selling the deal to Redfin instead (netting $160k in two months of ownership but $60k below Opendoors offer). Since then I've been tracking their inventory, while they are down from 19k homes over the summer... they look to be in deep trouble. 

Please keep in mind when you see a sold number on public records, Opendoor likely paid 6-10% below that number after they deduct various fees from the transaction. This point seems to be missed in most cases when referencing the prices paid for homes by Zillow, Redfin and Opendoor. 

Here are some details on the markets with large holdings.

Arizona (2,331) 

Texas (4,355)

Florida (2,404)

California (1,578)

Several of these markets have strong new construction inventory coming to market... this looks dangerous. Please be careful out there friends. 

Source: Property Radar