New Tool Helps Consumers Evaluate a Property’s Potential for Appreciation
IRVINE, Calif. – May 5, 2011 – RealtyTrac® (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, and SmartZip Analytics (www.smartzip.com), a leader in real estate analytics, today announced that SmartZip’s HomeScore™ has been integrated on nearly 2 million foreclosure and for-sale properties posted on the RealtyTrac website, allowing users to instantly locate properties that have the best potential for appreciation over time.
“This partnership offers great value to RealtyTrac users, giving homebuyers and investors the ability to easily find foreclosures and for-sale properties that represent the best buys,” said James J. Saccacio, chief executive officer of RealtyTrac. “Backed by SmartZip’s robust property and neighborhood analytics, the HomeScore ratings are displayed on RealtyTrac’s search results pages, allowing users to sort and filter properties by their scores, and in-depth property reports with historical charts and the data behind the ratings are available on the property details pages.”
“Today’s real estate market is characterized by unprecedented uncertainty and opportunity,” said Tom Glassanos, president and CEO of SmartZip Analytics. “RealtyTrac’s adoption of SmartZip’s Homescore ratings addresses each of these head on, giving homebuyers the means to easily tap the foreclosure market while ensuring purchases are financially sound.”
Visitors to http://www.realtytrac.com/ who perform a property search will find a HomeScore rating for properties in their area of interest. The HomeScore rating is a measure of a property’s potential to have above-average appreciation and below-average costs. HomeScore indicates a home’s relative investment quality on a scale of 1 to 100, with 50 being the national average, rating properties whether they are a poor, fair, good, very good or excellent investment opportunity.
The higher the HomeScore rating, the greater is the home’s investment potential. Properties that score above 50 are expected to outperform the market while those that score below 50 are expected to underperform. In general, a HomeScore between 35 and 65 is considered a “good” investment. A score above 65 is “very good” to “excellent;” and below 35, the rate scale trends from “fair” to “poor.”
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About RealtyTrac, Inc.
RealtyTrac (http://www.realtytrac.com/) is the leading online marketplace of foreclosure properties, with more than 2 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate. RealtyTrac’s foreclosure data has also been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures. RealtyTrac publishes a blog with daily updates on the foreclosure market (www.foreclosurepulse.com) and a monthly print newsletter covering the foreclosure market in depth.
About SmartZip Analytics, Inc.
SmartZip Analytics is a leader in real estate analytics, helping banks, real estate professionals and consumers make smart decisions about real estate. Backed by Intel Capital and adopted by leading real estate websites and businesses, SmartZip’s products offer valuable insight about pricing, investment quality, risk, desirability and likelihood to sell. SmartZip home values, ratings and analysis are available for over 75 million homes in 56,000 U.S. neighborhoods. SmartZip is a privately held corporation headquartered in Pleasanton, California, and can be found on the web at www.smartzip.com.
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