The house at 6630 S. Nash Way in Chandler, Ariz., looks at first glance like any other upscale home in the Phoenix area. Built in the early 2000s as part of a master-planned community, it checks the boxes of what most buyers in the region are looking for — a big lot, huge kitchen, sprawling backyard with built-in barbecue and pool, and proximity to good schools.
But one important fact makes this 15-year-old, four-bedroom, two-bath ranch-style home stand out from the rest: it will forever carry the historic designation as the first house purchased directly by Zillow Group, renovated and then listed for sale by the company on its website.
Zillow bought that house for 410K and listed it for 425K. Is Zillow the world’s worst flipper?
Zillow is a Mafia style protection racket run by techies who have never gotten their hands dirty doing physical labor. They will fail miserably in the flipping business.
Looks like they will loose money out the gate…They will run into legal problems in the future if they actually make money…especially if sellers sue.
If a large real estate conglomerate is sued for taking advantage of ill informed sellers without proper real estate advice, my guess is juries will give these hapless sellers substantial reward settlements…