Homeward launches in Oregon, empowering homeowners to buy before they sell
PORTLAND, Ore., June 28, 2022 — Homeward, a modern home finance company that partners with real estate agents to give every buyer the power to buy with cash before they sell a home, announced it has expanded to serve Oregon. This expansion, partnered with Homeward's launch in Washington also announced today, marks a significant milestone for the business as it enters the West Coast markets.
Founded by Tim Heyl, an agent himself, Homeward offers the broadest set of solutions for both homebuyers and sellers."Homeward is helping real estate agents and their clients win in real estate — whether that's simply negotiating the best terms, or buying before listing and selling," says Tim Heyl, Homeward's CEO and Founder. "We want to streamline the entire transaction and make homeownership universally achievable, making it more economical and taking the stress away from the process. We look forward to partnering with agents and their clients in Portland and beyond to achieve this."
By partnering with real estate agents, Homeward will make a cash offer on behalf of the agent's client, eliminating the finance, home sale, and appraisal contingencies. This helps a home buyer's offer stand out and, when necessary, buy their new home before selling their old one. Clients then obtain a mortgage from Homeward or the client's preferred lender and buy the home back from Homeward.
Homeward's suite of innovative home finance products will be available across Oregon, with initial growth efforts focused on the Portland metro area, including Vancouver. Sometimes called the Silicon Forest thanks to its recent influx of tech jobs, Portland has been a fast-growing housing market, with a median home price of $625,000 — a 10% increase year over year.
Cash offers are four times more likely to drive better terms because sellers prefer contingency-free contracts, and they know the transaction will close on time without any surprises. For clients that need to sell their current house before purchasing a new one, Homeward's Buy Before You Sell solution makes that a reality, while helping them save money on transaction fees and closing costs and getting them in their new home faster.
"In this market, sellers who need to sell their current home before moving are scrambling to get the house they want due to the fast-changing market. Our Buy Before You Sell product helps homebuyers make a stress-free, convenient transition on their own timeline — not someone else's," says Brian Gubernick, Homeward's Chief Real Estate Officer. "This means less time transitioning between houses, more time for clients to settle into their new home, and an easier pathway to selling their old house if needed. It's a win-win for everyone."
Homeward has continued to build on last year's success. With expansions into Florida, Washington, and Oregon regions this year, Homeward plans to be in 20 markets by the end of 2022. Through February 2022, the company recorded a revenue increase of around 5x year over year while launching partnerships with over 50 brokerages across the country.
About Homeward
Homeward is a modern home finance company that helps real estate agents and their clients overcome the limitations of traditional mortgages. The Homeward Cash Offer eliminates finance, home sale, and appraisal contingencies, enabling homebuyers to win with cash and, when necessary, to buy their new home before they sell their old one. Homeward has an office in Austin, TX, but operates with a fully remote workforce. If you're an agent, please visit homeward.com/oregon to learn how to make every client a cash buyer.