The Company has created an online service that enables consumers to find real estate listings and other content related to residential real estate, moving and relocation.
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Very simple, Move has executed above expectations for almost 8 quarters now. They have called for 15 - 20% growth in 2007 and there is no reason to doubt it.
In a slowing real estate market companies like Move actually do better than in a hot market where realtors may not even need to advertise Homes as they sell within days. And it is hard to convince a Realtor that they need technology solutions when they are making 300,000 grand a year with only their cell phone.
In a down market the agents and brokers have the same bills but now need to get serious about ad spend and technology solutions to increase their market share.
As the number one player in their space Move is going to seriously prosper at this point and time. Only the uneducated do not understand the true fundamentals of the Real Estate industry will call this the wrong way.
I cannot wait until the Q1 2007 earnings announcement next month. They are going to surprise a lot of unstudied investors and analysts.
Of note I am personally disappointed by the serious lack of understaning and/or research surrounding the business fundamentals of the Real Estate industry. Analysts are making backwards calls based on broad macro economics of the business without understand the micro economics of it. Shameful.