IRVINE, Calif. – Sept. 6, 2006 – RealtyTrac™ (www.realtytrac.com), the leading online marketplace for foreclosure properties, today announced that it has been listed in the 2006 Inc. 500 — an annual report published by Inc. magazine honoring the 500 fastest-growing private companies based on revenue growth. Irvine-based RealtyTrac was number 53 on the list with a three-year growth rate of 1,158 percent.
“We’re excited to be included in this year’s Inc. 500, and very proud of our high ranking in the report,” said James J. Saccacio, chief executive officer of RealtyTrac. “This honor really belongs to our employees, who have taken our vision of becoming a leading online real estate portal and turned it into a reality by listening to what our customers want and acting on that.”
“We are pleased to be the only real estate website of its kind selected by Inc. magazine. Our customers have spoken, voting with their wallets to make RealtyTrac the leading provider of foreclosure data on the Internet.”
The 2006 Inc. 500 list measures revenue growth from 2002 through 2005. To qualify, companies had to be U.S.-based, privately held, independent – not subsidiaries or divisions of other companies – as of December 31, 2005, and have at least $600,000 in net sales in the base year.
RealtyTrac publishes the largest and most comprehensive national database of foreclosure, auction and bank-owned homes, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.
“If you want to find out which companies are going to change the world, look at the Inc. 500,” said Inc. Editor Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can’t live without. The Inc. 500 list is Inc. magazine’s tribute to American business ingenuity and ambition.”
The Inc. 500 list was announced in the midst of a cooling housing market. “If people are looking to invest in real estate, we believe there will be increased opportunities to invest in foreclosures in 2006 and in 2007, when over a trillion dollars in adjustable-rate mortgages are expected to reset,” Saccacio said. “These adjustments will increase monthly mortgage payments by up to 50 percent for some homeowners. The RealtyTrac marketplace provides a way for those homeowners to avoid foreclosure while also benefiting buyers, investors looking to purchase property and financial institutions who would prefer to avoid the lengthy and costly foreclosure process.”
RealtyTrac, which was founded in
Saccacio noted that none of RealtyTrac’s competitors have appeared in this or prior years’ Inc. 500. “When our current management team took over control of the business in 2001, there were already a number of companies selling foreclosure lists, but most of the lists were, at best, of questionable value. We decided to focus on building the most comprehensive, accurate database of foreclosure properties, and have continually added features and tools that help our customers successfully find and purchase bargain properties.” Prior Inc. 500 honorees include Microsoft, Oracle, Google, eBay and Yahoo!.
The 2006 Inc. 500, as revealed in the September issue of Inc., reported the most robust bunch of companies the magazine has ever compiled, with aggregate revenue of $19.7 billion, up from $16.5 billion last year and $12.9 billion in 2000. Most important, the 2006 Inc. 500 companies were engines of job growth, having created more than 90,000 jobs since those companies were founded.
About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value. Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate,and The Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.
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