San Diego Homes For Sale
Welcome to California Lending & Realty, your online source for San Diego homes for sale. Information and services about buying and or selling San Diego real estate can be found here. Whether it’s finding your dream home, or maximizing a gain from a sale, California Lending & Realty is here to help you fulfill all of your real estate needs. Our diverse group of experienced agents cover all of San Diego County. All agents are licensed with the California Department of Real Estate, as well as members of the San Diego Association of Realtors. From the beautiful sandy beaches to the rugged back country of East County, let us work for you ensuring that the transaction runs smoothly and your interests are preserved. If you are interested in buying and/or selling property in San Diego County …Please contact us today for a free consultation. Take a look at our featured homes offered.
San Diego Short Sale
San Diego County has been inundated with people who cannot afford their mortgage payments, cannot refinance because their home value has dropped, and think that foreclosure is the only option. Foreclosure is not your only option. We’ve helped a number of San Diegans just like you. Discuss your situation with a Certified Distressed Property Expert (CDPE) and Short Sale & Foreclosure Resource (SFR) certified by the National Association of Realtors. Please click on the Short Sale tab to learn more.
Real Estate Market Update
ZILLOW LOOKS TO BUY TRULIA FOR $2B
Proposed merger not a done deal, would create dominant real estate search website
Investors are cheering a potential merger of two major real estate websites. Zillow, the largest U.S. real estate website, is seeking to buy No. 2 Trulia for as much as $2 billion in cash and stock, according to people with knowledge of the matter. An agreement may be announced as soon as next week, said one of the people, who asked not to be identified because the information is private. Talks are ongoing and may not lead to a deal.
The move would create a dominant search website for U.S. house hunters, reshaping an online industry the firms helped popularize.
Zillow rose 9 percent to close at $158.86 in New York — a day after rumors of the deal pushed the stock up more than 15 percent — giving the Seattle-based company a market value of $6.3 billion.
An offer for $2 billion would imply about $54 a share for Trulia. The stock surged above that price on Friday to close at $56.35 — implying traders are betting Zillow will have to pay more than that — after a 32 percent climb the previous day, giving the San Francisco-based company a market value of $2.1 billion.
Zillow may pay about two-thirds of the purchase price with its own stock, one of the people familiar with the matter said.
The companies help buyers and renters find information on homes, generating revenue by selling advertising and charging Realtors to place their listings prominently. Together Zillow and Trulia had more than 85 million unique visitors in June, accounting for about 89 percent of all traffic to the 15 most-visited real estate sites tracked by ComScore. A combination would make it hard for rivals to compete, said Steve Murray, president of Real Trends.
“What this says is, Zillow has been and has locked up the absolute dominant position in online real estate in the United States,” said Murray, whose company provides research and consulting for the real estate industry.
This merger would bring together two very similar businesses — and reduce marketing and overhead expenses so significantly that CRT Capital Group sees the combined entity getting close to turning a profit. With Trulia, Zillow would gain the fastest-growing publicly traded Internet-based service in the U.S., with revenue projected to quadruple by the end of 2018, according to analysts’ estimates compiled by Bloomberg.
“You’ve got them duking it out in terms of advertising spending, and it just seems like there are a lot of synergies to combining,” said Tom White, a New York-based analyst at Macquarie Group. “This could pave the way to these companies becoming more profitable more quickly.”
Trulia and Zillow declined to comment on the potential deal. They compete with companies including Move Inc., which is also publicly traded, and Redfin Corp., which is backed by venture capital firms including Greylock Partners.
A Trulia deal would be the biggest acquisition yet for Zillow Chief Executive Officer Spencer Rascoff, according to data compiled by Bloomberg, who bought New York real estate website Streeteasy.com for $50 million last year and apartment-search site HotPads for $16 million in 2012. This month, Zillow purchased Retsly Software, a Vancouver-based real estate software company.
Zillow and Trulia shares have surged in the past two years as the U.S. housing market rebounded from the worst crash since the Great Depression. Home prices have jumped 26 percent from a March 2012 low, according to the S&P/Case-Shiller index of 20 cities. Existing-home sales climbed in June to an eight-month high as listings increased, the National Association of Realtors reported this week.
Trulia’s revenue is expected to rise 76 percent this year to about $253 million, after more than doubling the previous year, estimates compiled by Bloomberg show. Last month, the company, which is led by Chief Executive Officer Pete Flint, said it would cut some jobs and take a charge in its second quarter. Zillow’s annual revenue is expected to reach about $311 million this year, a rise of about 58 percent over last year.
Please feel free to call Michael Thomas (Broker of Record) directly at 619-286-9400 if you have any questions regarding your real estate needs.