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The Appraisal

Nima Wedlake

The Appraisal tracks the performance of publicly traded real estate technology companies. You'll also find broader insights across the real estate, mortgage, and venture capital ecosystems.

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Substack
PricingOnly free issuesPublishesInfrequently
Issues20Founded5 years agoLast Issue2 months ago
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Latest Issues

The Appraisal, June 2026 — Breaking down Entrata's S-1

This is a special edition of the newsletter — we’re breaking down Entrata’s recent S-1 filing. Their IPO will be an interesting case study on how public markets value vertical software businesses in the age of AI.

Founded in 2003 in Lehi,...

2 months ago
12

The Appraisal, April 2026 — The State of Data Centers in 10 Charts

This is a special edition of the newsletter on the data center development boom. Data centers are, at their core, a real estate story. They require land, permitting, construction, and long-term leases — and the markets where they concentrat...

3 months ago
14

We Surveyed 150 Real Estate Professionals on AI Adoption. Here's What We Learned.

I’m excited to release the inaugural State of AI Adoption in Real Estate report. You can download the full report here, and I’ve included my highlights below.

The real estate industry has caught AI fever. Over the past year, the universe o...

5 months ago
7

Figure S-1 Breakdown — The HELOC Machine on Crypto Rails

This is a special edition of the newsletter — we’re breaking down Figure’s S-1. It showcases a tech-enabled real-estate lender at real scale and profitability—with a clear, practical crypto layer. Let’s dig in!

Figure filed its S-1 last we...

a year ago
5
1

The Appraisal, August 2025 — Opendoor's Open Questions

Welcome to the August edition of The Appraisal, a newsletter on real estate tech. My writing focuses on the 30+ public companies operating at the intersection of real estate and technology. In this issue, we review Opendoor’s journey as a p...

a year ago
4

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