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Move Inc. losses grow in 2008

By Inman News, Tuesday, March 3, 2009.

Realtor.com operator Move Inc. says losses ballooned from $4 million in 2007 to $32.7 million in 2008, despite having slashed $20 million in annual operating expenses by year's end.

At $242 million, revenue for the year was down 3 percent from 2007, although the company saw a sharper 8.2 percent year-over-year drop in revenue during the last three months of 2008, to $57.5 million that was driven by fewer new home listings and fewer display ads.  more...

Citi cuts unemployed homeowners slack

By Inman News, Tuesday, March 3, 2009.

CitiMortgage announced today it will reduce the monthly payments of homeowners who lose their jobs are behind on their mortgages to an average of $500 a month for three months.

The new Homeowner Unemployment Assist initiative is only available for first mortgage loans on a principal residence that conformed to Fannie Mae and Freddie Mac's limits at the time of origination.  more...

NAR: Sales of pre-owned homes to rise in '09

By Inman News, Tuesday, March 3, 2009.

Sales of resale homes are expected to remain roughly flat this year, with the median resale home price falling for the third straight year, according to the latest National Association of Realtors forecast.

The Realtor group expects annual sales of resale homes to rise 0.3 percent this year, to 4.93 million, and to rise 5.8 percent in 2010.  more...