HouseValues Inc. laid off 45 employees Wednesday, and Chief Financial Officer R. Barry Allen will resign, the online real estate marketing and lead-generation company said.

The announcement comes on the heels of HouseValues’ decision to invest $2.75 million in the real estate social networking site AcitveRain (see Inman News story).

Last fall, Kirkland, Wash.-based HouseValues laid off 100 workers — or about 30 percent of its workforce — after announcing a $900,000 third-quarter loss.

In a regulatory filing, HouseValues said it expects to post a net loss for the fourth quarter and year, but will save about $5 million a year from the latest layoffs. The layoffs, approved Jan. 22 by the company’s board of directors, “are in recognition of real estate market trends and the effect they are having on the company’s business,” officials said.

The company said its recent acquisition of Realty Generator LLC, a technology company that offers lead-generation services to real estate brokerage companies, will speed innovation and allow the company to lower ongoing technology operating and maintenance costs.

Jacqueline Davidson, who has served as the company’s vice president of finance since 2004, will take over as chief financial officer when Allen’s resignation becomes effective when HouseValues files its fourth-quarter results.

***

Send tips or a Letter to the Editor to matt@inman.com, or call (510) 658-9252, ext. 150.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Will you attend ICLV virtually or in-person? The agenda is packed with stellar speakers and sessions.Learn More×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription