realestate.com owner tree.com, Inc. has released its revenue and earnings predictions for 2010, saying it expects to see growth in its real estate portfolio as well as in education and home services.
tree.com says that as long as US interest rates remain low and there is no further disruption to the housing market, the company should see a 3.5 to 7 percent increase in revenue from 2009 levels to between US$227 million and $237 million.
With continued stability or even slow recovery in housing prices, tree.com says its real estate businesses should also grow by 5 to 10 percent.
tree.com chairman and CEO Doug Lebda is confident the new year will bring solid financial results:
“We are pleased to see signs of stability in the real estate and mortgage markets and continue to be encouraged by our new verticals. We expect to see a decline in refinance originations in 2010, particularly after the record setting first half of 2009.
However, improving demand from our network lenders, continued agent growth in real estate and a full year of results from our recently acquired education and home services businesses should enable us to grow our top-line revenue if the mortgage market remains stable.”
tree.com's financial results for the third quarter of 2009 were up slightly from the third quarter of 2008 to a revenue total of US$50.7 million. However, revenue was down from the previous quarter’s total by 17 percent.
Along with realestate.com, tree.com runs lendingtree.com, getsmart.com, homeloancenter.com, inest.com and domania.com.