Industry NewsMarkets & Economy

Estately CEO: REOs, mushrooms and bad cheese

Real Estate Connect Speaker Profile: Galen Ward

Galen Ward, co-founder and chief executive officer for Estately.com, will speak at the upcoming Real Estate Connect conference in San Francisco, which runs Aug. 5-7. Estately.com, a real estate brokerage company (see story) formerly known as ShackPrices.com that has offices in Washington state and California, offers a property-search site and works on a referral basis to link prospective homebuyers and sellers with agents at other firms. Estately won an Inman Innovator Award in 2008 in the "Web Service" category. Ward responded to a set of questions posed by Inman News: What do you see happening in the real estate market in 2009? I'm a pessimist. In the hardest-hit markets, I see sales picking up relative to last year (they already are in California), and prices continuing to drop. The rate at which prices are dropping will slow down, though. I expect sales to slow again in 2010 in the hardest-hit markets. REOs are the market in many areas. Once they move throug...