Intrinsic value of Redfin - RDFN

Previous Close

$15.16

  Intrinsic Value

$11.27

stock screener

  Rating & Target

sell

-26%

Previous close

$15.16

 
Intrinsic value

$11.27

 
Up/down potential

-26%

 
Rating

sell

We calculate the intrinsic value of RDFN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  35.90
  32.81
  30.03
  27.53
  25.27
  23.25
  21.42
  19.78
  18.30
  16.97
  15.77
  14.70
  13.73
  12.85
  12.07
  11.36
  10.73
  10.15
  9.64
  9.17
  8.76
  8.38
  8.04
  7.74
  7.46
  7.22
  7.00
  6.80
  6.62
  6.46
Revenue, $m
  503
  668
  868
  1,107
  1,387
  1,710
  2,076
  2,487
  2,942
  3,441
  3,984
  4,570
  5,197
  5,865
  6,573
  7,319
  8,105
  8,927
  9,788
  10,686
  11,622
  12,596
  13,609
  14,662
  15,756
  16,894
  18,075
  19,304
  20,581
  21,910
Variable operating expenses, $m
  470
  623
  810
  1,033
  1,294
  1,594
  1,935
  2,318
  2,742
  3,207
  3,712
  4,257
  4,842
  5,464
  6,123
  6,819
  7,550
  8,317
  9,119
  9,955
  10,827
  11,734
  12,678
  13,659
  14,679
  15,738
  16,840
  17,984
  19,174
  20,412
Fixed operating expenses, $m
  42
  43
  44
  45
  46
  47
  48
  49
  50
  51
  52
  53
  54
  56
  57
  58
  59
  61
  62
  63
  65
  66
  68
  69
  71
  72
  74
  75
  77
  79
Total operating expenses, $m
  512
  666
  854
  1,078
  1,340
  1,641
  1,983
  2,367
  2,792
  3,258
  3,764
  4,310
  4,896
  5,520
  6,180
  6,877
  7,609
  8,378
  9,181
  10,018
  10,892
  11,800
  12,746
  13,728
  14,750
  15,810
  16,914
  18,059
  19,251
  20,491
Operating income, $m
  -9
  2
  14
  30
  48
  69
  93
  120
  150
  183
  220
  259
  301
  345
  393
  442
  495
  550
  607
  667
  730
  795
  863
  933
  1,007
  1,083
  1,162
  1,244
  1,330
  1,419
EBITDA, $m
  0
  13
  28
  47
  69
  95
  125
  158
  194
  235
  278
  326
  377
  431
  489
  549
  613
  680
  750
  823
  900
  979
  1,062
  1,147
  1,237
  1,330
  1,426
  1,526
  1,631
  1,739
Interest expense (income), $m
  0
  0
  1
  2
  3
  5
  7
  9
  11
  14
  17
  20
  24
  27
  31
  36
  40
  45
  50
  56
  61
  67
  73
  80
  86
  93
  100
  108
  115
  123
  132
Earnings before tax, $m
  -9
  1
  12
  26
  43
  62
  84
  109
  136
  166
  200
  236
  273
  314
  357
  402
  449
  499
  551
  606
  663
  722
  783
  847
  914
  983
  1,055
  1,129
  1,207
  1,288
Tax expense, $m
  0
  0
  3
  7
  12
  17
  23
  29
  37
  45
  54
  64
  74
  85
  96
  109
  121
  135
  149
  164
  179
  195
  211
  229
  247
  265
  285
  305
  326
  348
Net income, $m
  -9
  0
  9
  19
  31
  45
  61
  79
  99
  121
  146
  172
  200
  229
  260
  293
  328
  365
  403
  442
  484
  527
  572
  618
  667
  717
  770
  824
  881
  940

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  138
  183
  238
  303
  380
  468
  568
  681
  805
  942
  1,090
  1,251
  1,422
  1,605
  1,799
  2,003
  2,218
  2,443
  2,679
  2,924
  3,180
  3,447
  3,724
  4,013
  4,312
  4,623
  4,947
  5,283
  5,633
  5,996
Adjusted assets (=assets-cash), $m
  138
  183
  238
  303
  380
  468
  568
  681
  805
  942
  1,090
  1,251
  1,422
  1,605
  1,799
  2,003
  2,218
  2,443
  2,679
  2,924
  3,180
  3,447
  3,724
  4,013
  4,312
  4,623
  4,947
  5,283
  5,633
  5,996
Revenue / Adjusted assets
  3.645
  3.650
  3.647
  3.653
  3.650
  3.654
  3.655
  3.652
  3.655
  3.653
  3.655
  3.653
  3.655
  3.654
  3.654
  3.654
  3.654
  3.654
  3.654
  3.655
  3.655
  3.654
  3.654
  3.654
  3.654
  3.654
  3.654
  3.654
  3.654
  3.654
Average production assets, $m
  37
  49
  63
  81
  101
  125
  152
  182
  215
  251
  291
  334
  379
  428
  480
  534
  592
  652
  715
  780
  848
  919
  993
  1,070
  1,150
  1,233
  1,320
  1,409
  1,502
  1,599
Working capital, $m
  -11
  -15
  -19
  -24
  -31
  -38
  -46
  -55
  -65
  -76
  -88
  -101
  -114
  -129
  -145
  -161
  -178
  -196
  -215
  -235
  -256
  -277
  -299
  -323
  -347
  -372
  -398
  -425
  -453
  -482
Total debt, $m
  18
  38
  62
  91
  125
  163
  208
  257
  312
  372
  437
  508
  583
  664
  749
  839
  933
  1,033
  1,136
  1,244
  1,357
  1,474
  1,596
  1,723
  1,855
  1,992
  2,134
  2,282
  2,436
  2,596
Total liabilities, $m
  61
  80
  105
  133
  167
  206
  250
  299
  354
  414
  480
  550
  626
  706
  791
  881
  976
  1,075
  1,179
  1,287
  1,399
  1,517
  1,639
  1,766
  1,897
  2,034
  2,177
  2,325
  2,478
  2,638
Total equity, $m
  77
  102
  133
  170
  213
  262
  318
  381
  451
  527
  611
  700
  796
  899
  1,007
  1,122
  1,242
  1,368
  1,500
  1,638
  1,781
  1,930
  2,086
  2,247
  2,415
  2,589
  2,770
  2,958
  3,154
  3,358
Total liabilities and equity, $m
  138
  182
  238
  303
  380
  468
  568
  680
  805
  941
  1,091
  1,250
  1,422
  1,605
  1,798
  2,003
  2,218
  2,443
  2,679
  2,925
  3,180
  3,447
  3,725
  4,013
  4,312
  4,623
  4,947
  5,283
  5,632
  5,996
Debt-to-equity ratio
  0.230
  0.370
  0.470
  0.540
  0.590
  0.620
  0.650
  0.670
  0.690
  0.710
  0.720
  0.730
  0.730
  0.740
  0.740
  0.750
  0.750
  0.750
  0.760
  0.760
  0.760
  0.760
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
Adjusted equity ratio
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -9
  0
  9
  19
  31
  45
  61
  79
  99
  121
  146
  172
  200
  229
  260
  293
  328
  365
  403
  442
  484
  527
  572
  618
  667
  717
  770
  824
  881
  940
Depreciation, amort., depletion, $m
  9
  11
  14
  17
  22
  26
  32
  38
  44
  51
  58
  67
  76
  86
  96
  107
  118
  130
  143
  156
  170
  184
  199
  214
  230
  247
  264
  282
  300
  320
Funds from operations, $m
  0
  11
  23
  37
  53
  72
  93
  117
  144
  173
  204
  239
  276
  315
  356
  400
  446
  495
  545
  598
  653
  711
  770
  832
  897
  964
  1,034
  1,106
  1,182
  1,260
Change in working capital, $m
  -3
  -4
  -4
  -5
  -6
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
Cash from operations, $m
  3
  15
  27
  42
  59
  79
  101
  126
  154
  184
  216
  252
  289
  329
  372
  417
  464
  513
  564
  618
  674
  732
  793
  856
  921
  989
  1,060
  1,133
  1,210
  1,289
Maintenance CAPEX, $m
  -5
  -7
  -10
  -13
  -16
  -20
  -25
  -30
  -36
  -43
  -50
  -58
  -67
  -76
  -86
  -96
  -107
  -118
  -130
  -143
  -156
  -170
  -184
  -199
  -214
  -230
  -247
  -264
  -282
  -300
New CAPEX, $m
  -10
  -12
  -15
  -17
  -20
  -24
  -27
  -30
  -33
  -36
  -40
  -43
  -46
  -49
  -52
  -55
  -57
  -60
  -63
  -66
  -68
  -71
  -74
  -77
  -80
  -83
  -86
  -90
  -93
  -97
Cash from investing activities, $m
  -15
  -19
  -25
  -30
  -36
  -44
  -52
  -60
  -69
  -79
  -90
  -101
  -113
  -125
  -138
  -151
  -164
  -178
  -193
  -209
  -224
  -241
  -258
  -276
  -294
  -313
  -333
  -354
  -375
  -397
Free cash flow, $m
  -12
  -4
  3
  12
  22
  35
  49
  66
  84
  104
  126
  151
  177
  205
  235
  266
  300
  335
  371
  410
  450
  491
  535
  580
  627
  676
  727
  780
  835
  892
Issuance/(repayment) of debt, $m
  16
  20
  24
  29
  34
  39
  44
  49
  55
  60
  65
  71
  76
  80
  85
  90
  95
  99
  104
  108
  113
  117
  122
  127
  132
  137
  142
  148
  154
  160
Issuance/(repurchase) of shares, $m
  29
  25
  22
  17
  12
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  45
  45
  46
  46
  46
  43
  44
  49
  55
  60
  65
  71
  76
  80
  85
  90
  95
  99
  104
  108
  113
  117
  122
  127
  132
  137
  142
  148
  154
  160
Total cash flow (excl. dividends), $m
  33
  40
  49
  58
  68
  78
  93
  115
  139
  165
  192
  221
  252
  285
  320
  356
  394
  434
  475
  518
  562
  609
  657
  707
  759
  813
  869
  928
  988
  1,052
Retained Cash Flow (-), $m
  -29
  -25
  -31
  -37
  -43
  -49
  -56
  -63
  -70
  -77
  -83
  -90
  -96
  -102
  -108
  -114
  -120
  -126
  -132
  -138
  -143
  -149
  -155
  -161
  -168
  -174
  -181
  -188
  -196
  -204
Prev. year cash balance distribution, $m
  179
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  182
  15
  18
  21
  25
  28
  37
  52
  69
  88
  109
  131
  156
  183
  211
  242
  274
  308
  343
  380
  419
  459
  502
  545
  591
  639
  688
  739
  793
  848
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  175
  14
  16
  18
  19
  21
  25
  33
  40
  46
  52
  56
  59
  61
  62
  61
  60
  57
  53
  48
  43
  38
  33
  28
  23
  19
  15
  11
  9
  6
Current shareholders' claim on cash, %
  91.7
  86.8
  83.7
  81.8
  80.9
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6
  80.6

Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool. The customer can search homes for sale in Austin, Atlanta, Baltimore, Boston, Charlotte, Chicago, Dallas, Denver, Fort Lauderdale, Houston, Lake Tahoe, Las Vegas, Los Angeles, Miami, Philadelphia, Phoenix, Portland, OR, Raleigh, San Antonio, San Diego, San Francisco, Sacramento, San Jose, Seattle and Washington. The Company serves over 80 metro areas across the United States.

FINANCIAL RATIOS  of  Redfin (RDFN)

Valuation Ratios
P/E Ratio -52.4
Price to Sales 4.5
Price to Book 13.1
Price to Tangible Book
Price to Cash Flow -134
Price to Free Cash Flow -52.4
Growth Rates
Sales Growth Rate 42.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 180%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0.4
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -17.8%
Ret/ On Assets - 3 Yr. Avg. -21.9%
Return On Total Capital -23.5%
Ret/ On T. Cap. - 3 Yr. Avg. -27.1%
Return On Equity -23.5%
Return On Equity - 3 Yr. Avg. -27.1%
Asset Turnover 2.1
Profitability Ratios
Gross Margin 31.1%
Gross Margin - 3 Yr. Avg. 27.6%
EBITDA Margin -6.4%
EBITDA Margin - 3 Yr. Avg. -12.6%
Operating Margin -8.6%
Oper. Margin - 3 Yr. Avg. -15.1%
Pre-Tax Margin -8.6%
Pre-Tax Margin - 3 Yr. Avg. -14.9%
Net Profit Margin -8.6%
Net Profit Margin - 3 Yr. Avg. -14.9%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

RDFN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RDFN stock intrinsic value calculation we used $370.036 million for the last fiscal year's total revenue generated by Redfin. The default revenue input number comes from 0001 income statement of Redfin. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RDFN stock valuation model: a) initial revenue growth rate of 35.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for RDFN is calculated based on our internal credit rating of Redfin, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Redfin.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RDFN stock the variable cost ratio is equal to 93.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $41 million in the base year in the intrinsic value calculation for RDFN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Redfin.

Corporate tax rate of 27% is the nominal tax rate for Redfin. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RDFN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RDFN are equal to 7.3%.

Life of production assets of 4.7 years is the average useful life of capital assets used in Redfin operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RDFN is equal to -2.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $235.43 million for Redfin - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 88.704 million for Redfin is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Redfin at the current share price and the inputted number of shares is $1.3 billion.

COMPANY NEWS

▶ Housing searches spike near Amazon HQ2 sites on Zillow and Redfin   [Nov-13-18 01:12PM  American City Business Journals]
▶ Redfin Revenue Rises 28%   [Nov-12-18 03:04PM  Motley Fool]
▶ Redfin: 3Q Earnings Snapshot   [04:25PM  Associated Press]
▶ Redfin Is Not Appealing From the Long Side   [Oct-30-18 02:07PM  TheStreet.com]
▶ 3 Top Stocks Under $20   [Oct-25-18 04:18PM  Motley Fool]
▶ Is Redfin Corporation (NASDAQ:RDFN) Cheap And High Growth?   [Oct-09-18 03:35PM  Simply Wall St.]
▶ Redfin Mortgage Launches in Colorado   [Oct-04-18 12:07PM  PR Newswire]
▶ Bullish on Amazon? You'll Love These 3 Stocks   [Sep-16-18 09:33AM  Motley Fool]
▶ Seattle's home-equity gap between white and minority communities widens, data shows   [Sep-11-18 05:14PM  American City Business Journals]
▶ Redfin to Present at Deutsche Bank Technology Conference   [Aug-29-18 04:01PM  GlobeNewswire]
▶ Dollar-Cost Averaging in Redfin   [Aug-27-18 03:22PM  GuruFocus.com]
▶ 3 Top Small-Cap Stocks to Buy Right Now   [Aug-23-18 03:21PM  Motley Fool]
▶ Tesla Loses Popularity With Its Suppliers   [Aug-22-18 04:16PM  Motley Fool]
▶ Redfin (RDFN) in Focus: Stock Moves 5.1% Higher   [Aug-21-18 08:35AM  Zacks]
▶ An Opportunity for Homebuilders   [Aug-17-18 03:38PM  GuruFocus.com]
▶ Redfin Reports Housing Market Troubles   [Aug-15-18 12:38PM  Motley Fool]
▶ Company News For Aug 13, 2018   [Aug-13-18 10:22AM  Zacks]
▶ What Happened in the Stock Market Today   [Aug-10-18 05:08PM  Motley Fool]
▶ Redfin: 2Q Earnings Snapshot   [04:13PM  Associated Press]
▶ Redfin filing suggests the Seattle company is planning acquisitions   [02:49PM  American City Business Journals]
▶ Greater Cincinnati has one of least competitive housing markets   [Jul-25-18 05:18AM  American City Business Journals]
▶ Redfin shares fall 4% after share, debt offerings news   [Jul-16-18 04:25PM  MarketWatch]
▶ 9 High-Octane Stocks Poised to Rise Higher   [Jul-10-18 06:00AM  Investopedia]
▶ The neighborhoods where San Francisco home sellers make the most money   [Jun-26-18 04:59PM  American City Business Journals]
▶ Redfin Housing Demand Index Up 7% in May   [08:00AM  PR Newswire]
▶ 3 Risky Real Estate Stocks You Really Should Avoid   [Jun-21-18 10:07AM  InvestorPlace]
▶ Time to Take Profits in Zillow Stock   [Jun-20-18 04:18PM  InvestorPlace]
▶ Redfin Mortgage Launches in Georgia   [Jun-08-18 10:00AM  PR Newswire]
▶ Best High Growth NasdaqGS Stocks This Week   [Jun-02-18 12:02PM  Simply Wall St.]

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