Comments on: Too Much Housing Inventory, Call In Overstock.com http://www.therealestatebloggers.com/2008/08/22/too-much-housing-inventory-call-in-overstockcom/ Real Estate Blog, Mortgage, and Development News Fri, 20 Nov 2009 23:48:48 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: Hitting the Links | Redfin Boston Sweet Digs http://www.therealestatebloggers.com/2008/08/22/too-much-housing-inventory-call-in-overstockcom/comment-page-1/#comment-249654 Hitting the Links | Redfin Boston Sweet Digs Mon, 25 Aug 2008 07:24:19 +0000 http://www.therealestatebloggers.com/2008/08/22/too-much-inventory-call-in-overstockcom/#comment-249654 [...] No joke: Overstock.com sells houses. [The Real Estate Bloggers] [...] [...] No joke: Overstock.com sells houses. [The Real Estate Bloggers] [...]

]]> By: indaknow http://www.therealestatebloggers.com/2008/08/22/too-much-housing-inventory-call-in-overstockcom/comment-page-1/#comment-248513 indaknow Fri, 22 Aug 2008 23:17:31 +0000 http://www.therealestatebloggers.com/2008/08/22/too-much-inventory-call-in-overstockcom/#comment-248513 If Overstock.com weren't completely inept, this might be a good idea. It makes sense to alleviate over-saturated housing markets via online aggregation - its using one of the most powerful marketing mediums available to alleviate a huge economic concern. However, Overstock.com, Patrick Byrne, and his legions of 'yes men' can't get out of their own way - instead of turning their 'blender' business into a profitable one, they seem to have thought that venturing into the auctions, cars, social media, travel, and now real estate businesses would be a good idea. Case in point - Overstock bought a travel company called Mountain Reservations for $30m in 2005. They sold that same company 2 years later for $17m and in the process of losing $13m, turned a once profitable company into a loss leader. Byrne and his minions don't know their asses from their elbows, and will eventually turn this promising idea into another blunder. If Overstock.com weren’t completely inept, this might be a good idea. It makes sense to alleviate over-saturated housing markets via online aggregation – its using one of the most powerful marketing mediums available to alleviate a huge economic concern.

However, Overstock.com, Patrick Byrne, and his legions of ‘yes men’ can’t get out of their own way – instead of turning their ‘blender’ business into a profitable one, they seem to have thought that venturing into the auctions, cars, social media, travel, and now real estate businesses would be a good idea. Case in point – Overstock bought a travel company called Mountain Reservations for $30m in 2005. They sold that same company 2 years later for $17m and in the process of losing $13m, turned a once profitable company into a loss leader. Byrne and his minions don’t know their asses from their elbows, and will eventually turn this promising idea into another blunder.

]]> By: California Movers http://www.therealestatebloggers.com/2008/08/22/too-much-housing-inventory-call-in-overstockcom/comment-page-1/#comment-248460 California Movers Fri, 22 Aug 2008 20:50:24 +0000 http://www.therealestatebloggers.com/2008/08/22/too-much-inventory-call-in-overstockcom/#comment-248460 Overstock.com is a great site, i love it. Overstock.com is a great site, i love it.

]]> By: Mortgage Samson http://www.therealestatebloggers.com/2008/08/22/too-much-housing-inventory-call-in-overstockcom/comment-page-1/#comment-248441 Mortgage Samson Fri, 22 Aug 2008 20:09:49 +0000 http://www.therealestatebloggers.com/2008/08/22/too-much-inventory-call-in-overstockcom/#comment-248441 Personally, I don't see a big difference between blenders and real estate. I say let Overstock get in there and mix it up! Personally, I don’t see a big difference between blenders and real estate.

I say let Overstock get in there and mix it up!

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