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Real estate Web sites see growth despite housing slide

January 28, 2008 /

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"For small to medium to national organizations, for events and fundraisers of any size, in any format – live, virtual or hybrid – the platform is built for scale."

Talk about an uh-oh moment.

It was late October, and Redfin, an online real estate brokerage firm based in Seattle, had received just three months earlier a $12 million investment led by the marquee venture capital firm Draper Fisher Jurvetson.

In the interim, the mortgage industry melted down, foreclosures spiked and housing sales slowed to a crawl. Now, one of Redfin’s biggest markets, Los Angeles, was battling a series of wildfires and Redfin’s sales had stopped cold.

By BOB TEDESCHI
THE NEW YORK TIMES

Full Story: http://seattlepi.nwsource.com/business/348961_ecommerce28.html?source=rss

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