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Zillow has officially announced the end of it’s iBuying program, Zillow Offers. The announcement comes just a few weeks after the company said it wouldn’t be buying any more homes this year. And then there were reports that Zillow would be offloading thousands of homes at a discount. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. The iBuying frenzy has been growing among several competitors including Zillow, Redfin, Opendoor, Offerpad and others. There was a pause in those programs during the pandemic, but the iBuyers were back in full swing this year. And Zillow was one of the more exuberant ones. Home Price Forecasting But Zillow apparently miscalculated the value of the homes it was buying. The company’s financial results show a $304 million write-down for the homes that were purchased for more than it can sell them for. It expects to lose another $240 to $265 million for homes that it is contracted to purchase in the next q