Arno de Vos, a real estate industry expert hailing from Miami Beach who’s known for his sharp understanding of markets, gives his recap of last week’s top stories.
Summary: Recent Google Trends data indicate that the popularity of “Zillow” as a search term surpassed the popularity of the term “real estate” in March and April of this year. Why?
Summary: Last week, a litigation analyst predicted that it was likely that a judge would sanction Zillow and two of its executives for destroying evidence that litigant Move, Inc., alleges contains trade secrets. The executives, former Move employees Errol Samuelson and Curt Beardsley, are accused of taking those trade secrets to Zillow when they both left Move for the portal. Move is asking for almost $2 billion in damages.
Summary: Home prices in New York, Tennessee and Texas all hit new peaks in February 2016, according to data from Black Knight Financial Services.