Industry News

HouseValues announces layoffs, exits mortgage lead-generation

Company will focus on its real estate agent customers

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HouseValues Inc. officials (NASDAQ: SOLD) on Wednesday announced that they are cutting 60 employees, or about 12 percent of the overall workforce, as the company exits the mortgage lead-generation business and pulls back in other areas. In addition to leaving the mortgage lead-generation business, the company "is scaling back or eliminating initiatives that are not critical to its real estate agent customers. These reductions only affect the company's Kirkland headquarters," according to the announcement. HouseValues offers marketing services and tools for real estate professionals and also operates a property-search Web site at HomePages.com. The company has added Barry Allen as chief financial officer and executive vice president of operations, according to the announcement. Clayton Lewis, HouseValues chief operating officer, has reportedly left the company to pursue other interests. "HouseValues will work with strategic and advertising partners to monetize organic mortgage de...