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BUSINESS
April 1, 2012 | By Kenneth R. Harney
WASHINGTON — What's behind the unusually high rate of contract cancellations and settlement delays in the real estate market? With signs of recovery emerging in many parts of the country, shouldn't deals be zipping along with minimal complications? Apparently not. Nearly one-third of realty agents in a new national survey reported experiencing contract cancellations — purchases crumbling before closing — in February. That's up dramatically from a similar poll 12 months earlier, when just 9% of agents reported cancellations.
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BUSINESS
August 17, 2012 | By Tiffany Hsu
Trulia Inc., which runs real estate website Trulia.com, filed for an initial public offering Friday that could help the San Francisco company raise up to $75 million. In its filing with the Securities and Exchange Commission, Trulia did not say how many shares it planned to sell or how they would be priced. The company, which noted in its filing that it could raise up to $75 million, said it plans to list under the ticker TRLA on the New York Stock Exchange. Trulia offers services on the Web and mobile applications aimed at prospective home buyers, sellers or renters as well as the real estate professionals trying to attract them as clients.
BUSINESS
September 30, 2010 | By Lauren Beale, Los Angeles Times
The face. The hair. The voice. Why does that real estate agent seem so familiar? Because, in that only-in-L.A. kind of way, there's a good chance the agent is also an actor, reality show personality or has had some other brush with fame. The last decade's real estate bubble and bust spawned more than 20 reality cable television shows devoted to home buying, selling and flipping, so the odds are that some of those agents will end up at an open house near you. Broaden the spotlight to music and acting, and the recognition factor climbs even higher.
BUSINESS
September 23, 2010 | By Stuart Pfeifer and Robert Faturechi, Los Angeles Times
Los Angeles real estate mogul Ezri Namvar, an Iranian immigrant who amassed and then lost billions of dollars of commercial real estate holdings, has been indicted on wire fraud charges, his attorney said. Namvar, former owner of such high-profile properties as the Marriott hotel in downtown Los Angeles and the Cal Neva resort in Lake Tahoe, was accused of five counts of wire fraud related to a company, Namco Financial Exchange Corp., that sheltered proceeds from real estate transactions, said defense attorney Marc Harris.
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