Last year we posted about Zillow getting into the “instant offers” business where potential sellers submit their property address and get no-obligation offers from “qualified” investors. Their program has been going for about a year in Las Vegas and Orlando but recently they announced that Phoenix was being added to the mix. Now, the Wall Street Journal is reporting (provided by MarketWatch) that Zillow is getting into the home flipping business. According to the report, Zillow will purchase homes in Las Vegas and Phoenix, renovate and flip them within 90 days. There goes the neighborhood….
Click here to read more at MarketWatch.com.
Click here to read the release about their expansion into Phoenix.