Luxury segment will depend on whether and when the stock market rebounds.  

The segment between US1 and 95 is quite nice and you should be able to get a pool or 4BR (or both) - that might be your winning location.Tchaka   

There will be a decent amount of losses in the STR segment.

Yeah, those producing, net-exporting, thriving while net-importers living off borrowed $ and time, heavily segmented between the haves and have not's, mass poverty.... 

Its one of the many ways to segment the risk profiles since the landlord on the lease is the mgt LLC. 

Instead, the most likely reason why Zillow is pulling back from robo-flipping is that the housing market is starting to crack and this particular segment is no longer profitable.

They are serving a segment of sellers.

Some segments stay longer than others on average.In 2005, when I selected Las Vegas to set up my business, I did extensive tenant segment research.

Spend some time learning and listening, so you can identify a segment of real estate that really lights you up. 

The real question is how much this would skew the plotted data.Currently, I do split the market into the avg high, mid, and low $/sf segments over time, you can see the high-end (renovated/new) product shifts with the most magnitude (across almost every market not just 91324), but this does not represent absorption like you desire, only $/sf:To research your hypothesis, I would have to:1) Select a year's worth of transactions (ideally across a 10k+ transaction/year market to be representative, say Los Angeles)2) Manually review every transaction's photos, marking them 'Renovated/New' if it is, to segment this transaction data from the rest of the transactions3) Calculate & plot absorption of the 'Renovated/New', and compare it to the absorption of the rest of the transactions4) When overlaid atop one another, their slopes would reveal the impact you mention in your hypothesis #1     -If you are right, we would see the cheap houses slope increase heavily Q1-Q4, with the expensive houses slope decreasing Q1-Q4, and vice-versa.I've run comps thousands of times when underwriting (looking for high-end renovated homes to use as comps) and I have yet to detect such a phenomenon.