Opendoor Technologies Inc (OPEN) is currently facing discussions on Reddit about its recent pullback on making offers in certain markets. Users have reported receiving messages from Opendoor indicating that the company is either not operating in their area or is unable to provide an acceptable offer based on property details. This has led to speculation among users about the company's strategy, with some noting that Opendoor is still active in other regions, such as Northern Utah. The discussions highlight a shift in Opendoor's market presence, which could be a response to changing real estate conditions.
In another thread, users are debating the challenges of selling properties in the current market, particularly in areas like metro Atlanta. One user shared their experience of receiving a significantly lower offer from Opendoor compared to the peak of the pandemic, reflecting the broader cooling of the real estate market. The conversation also touched on the difficulties posed by homeowners associations (HOAs) and financing challenges, with some users advising to sell properties while others suggest holding onto them if the long-term math is favorable.
As of the latest update, Opendoor Technologies Inc (OPEN) is trading at $2.15, reflecting a slight decrease of 0.46% from the previous close.