General Real Estate Investing

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David B.
  • Investor
  • Worcester County, MA
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Opendoor offer just dropped 12%

David B.
  • Investor
  • Worcester County, MA
Posted Jul 12 2022, 12:06

I own an SFR just north of Orlando. In Volusia county.

Opendoor sends me a refreshed offer every month or so.

i just receiced one that is 13% lower than approximately one month ago. $213,000 down from $243,000.  This is after a couple years, where their offers have trended up ( (or maybe just down a little) on a mothly basis, month to month.

So, are prices falling now in central Florida for lower priced single family houses?

Orlando, Florida

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Scott Trench
  • President of BiggerPockets
  • Denver, CO
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Scott Trench
  • President of BiggerPockets
  • Denver, CO
Replied Jul 12 2022, 12:22

It's hard to comprehend how Opendoor will make money in an environment of rising interest rates and flat/falling prices. I wouldn't read too much into this specifically, but I would keep a wary eye on the market. Most investors on BP think prices will be flat or fall slightly over the next 12 months.

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Tyler Gibson
  • Real Estate Agent
  • Orlando, FL
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Tyler Gibson
  • Real Estate Agent
  • Orlando, FL
Replied Jul 12 2022, 12:33
Quote from @David B.:

I own an SFR just north of Orlando. In Volusia county.

Opendoor sends me a refreshed offer every month or so.

i just receiced one that is 13% lower than approximately one month ago. $213,000 down from $243,000.  This is after a couple years, where their offers have trended up ( (or maybe just down a little) on a mothly basis, month to month.

So, are prices falling now in central Florida for lower priced single family houses?


 To answer your direct question of whether or not prices are falling here in Central Florida, no they are not. However, we are no longer seeing multiple offer situations on every single home. We are starting to see some price reductions on listings that we're trying to push the envelope on pricing. We are starting to see the average day on market pick up slightly week over week. We are starting to see inventories rise week over week. That being said, we are still well below the 6th month of inventory mark which would indicate a balanced real estate market. It is still a seller's market, however with rising interest rates there are fewer buyers in the market and we are seeing a shift back towards normalcy. That being said I don't think there is any great risk of a huge falling of prices since there is still a lot of demand and developers are not building new homes fast enough.