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OPENDOOR TECHNOLOGIES INC.

(OPEN)
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Opendoor Technologies : Expands to D.C., Cleveland & Columbus Areas

09/14/2021 | 09:12am EST

We're facing one of the most competitive real estate markets in decades, and people across the country are looking for every advantage when it comes to buying or selling a home. At Opendoor, we've reached more than 100,000 transactions, making moving for our customers simple, certain, and fast. We're proud to bring the Opendoor experience to even more people as we launch in three new markets and double our market footprint in less than a year.

Beginning today, residents in the Washington, D.C., area (starting with Northern Virginia) and in Columbus and Cleveland, Ohio, have a simpler way to sell their homes using Opendoor. With Opendoor, homeowners can get an offer on their home in minutes and sell in a matter of days. From initial home assessments which you can now do virtually, to timing your final closing, Opendoor's on-demand, fully-digital service can help you eliminate the stress of moving and enjoy the next step of your life.

We're proud to continue our mission of empowering everyone with the freedom to move. With these new markets, Opendoor is now servicing customers in 44 markets across the U.S. We look forward to meeting and helping homeowners in D.C., Columbus and Cleveland!

Check out below why our local teams are so excited about our latest moves.

Washington D.C. Metro Area

Northern Virginia has always been a go-to for D.C.-area employees looking for more housing options. With a dynamic local economy bringing a wealth of job opportunities, investment in commuting infrastructure, and consistently top ranked schools, the region is attractive to homeowners across generations.

According to Patrick Halligan, General Manager of the Washington, D.C., area, Northern Virginia's robust housing market has reached a 16 year high in terms of sales. 'We're likely to continue seeing a sellers market, which is expected to push home prices up, and Opendoor is ready to give competitive offers to sellers,' said Halligan. 'The local Opendoor team in D.C. is excited for the opportunity to simplify the real estate transaction process and meet the needs of our customers in the robust and thriving real estate market surrounding our Nation's Capital.'

Cleveland

Cleveland is known for passionate sports fans, the renowned Playhouse Square theater district, the Cleveland Clinic and University Hospitals. For those who value an active lifestyle, new bike trails are popping up and one of the most popular theme parks, Cedar Point, is just a stone's throw away.

Cleveland is one of the most affordable housing markets in the country with a median sale price under $200,000. Investment is ongoing in lakefront developments including a reinvigorated Flats district, Edgewater park, and concert venues. 'Home ownership in this dynamic market is within reach for first time buyers, unlocking access to a culture that values equality, safety and inclusivity,' said Regional General Manager, Jim Lesinski. 'Opendoor is humbled to extend its services to another great city in the Midwest, making it easier than ever for the people of Cleveland to buy and sell a home.'

Columbus

Ohio's capital city is a popular location for startups and young professionals with its innovative art scene and booming tech industry. The city is among the fastest growing metropolitan areas in the country, with the population increasing 12% since 2010. According to Jim Lesinski, 'Many come for the amenities and opportunities, but stay for the highly rated school districts and family friendly community.'

From the trendy Short North Arts District and the German Village to the beautiful riverfront along the Scioto Mile, Columbus has something to offer everyone. 'It's no surprise more people are moving to Columbus every year,' adds Lesinski. 'Opendoor introduces a new, simpler way to buy and sell a home, something that has proven to be highly valued in other growing cities across the country.'

Interested in selling your home? Get started and request an offer on your home today with Opendoor.

Rob Reiling is the Head of City Operations at Opendoor.

Disclaimer

Opendoor Technologies Inc. published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 13:11:01 UTC.


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Financials (USD)
Sales 2021 7 353 M - -
Net income 2021 -603 M - -
Net Debt 2021 4 407 M - -
P/E ratio 2021 -8,32x
Yield 2021 -
Capitalization 5 207 M 5 207 M -
EV / Sales 2021 1,31x
EV / Sales 2022 0,77x
Nbr of Employees 1 048
Free-Float 83,9%
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Number of Analysts 8
Last Close Price 8,50 $
Average target price 23,00 $
Spread / Average Target 171%
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Managers and Directors
Eric Wu Chairman & Chief Executive Officer
Andrew Low Ah Kee President
Carrie Ann Wheeler Chief Financial Officer
Ian Wong Chief Technology Officer
Daniel Morillo Chief Investment Officer