Real Estate

Move/News Corp legal battle drags down Zillow Group earnings in 2015

Posts net loss of $91.1 million; sees traffic decline in 4th quarter
The Zillow Group family of websites, which includes Zillow and Trulia, announced its 2015 financial results on Thursday, with the company reporting a pro forma net loss of $91.1 million in 2015. According to Zillow, a large portion of the net loss was driven by the legal fees associated with Zillow’s legal battle with Move, which is now owned by News Corp, over claims of allegations of trade secret theft involving Errol Samuelson, who was once Move's chief strategy officer. Click the headline to read more.
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Realtors: Florida housing set to get 2016 boost

The numbers from 2015 showed home sales and listings healthy
The Florida housing market for 2015 increased by 12.4% from 2014 in single-family home sales. Year-over-year growth in 2015's final quarter was more subdued, signaling a possible return in 2016 to more stable rates of sales growth.
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MBA: New home purchases soared in January

Estimate surpassed expectations
Even though new home purchases dropped 6% in December, for the month of January the Mortgage Bankers Association’s Builder Application Survey shows mortgage applications for new home purchases, increased by 14%.
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These are the top 5 most vacant cities in the U.S.

Not quite ghost towns, yet
The housing market continues to recover from the recent financial crisis. For the month of February, a recent RealtyTrac report shows that vacancy and “zombie foreclosures” are down 4% from a year ago nationwide. However, there are still some minority markets where its increasing.
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Manager of 'predatory' loan modification law firm sent to jail

Michael Nazarinia gets 9 months for role in mortgage fraud scheme
A San Diego businessman will spend the next nine months in prison after being convicted for his role in a fraudulent mortgage loan modification business that presented itself as a “law firm” in order to con more than 1,000 struggling homeowners out of more than $3 million total.
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