PRIMEDIA Websites Saw Increased Views of RealtyTrac Foreclosure Data as U.S.
Foreclosures Experienced Record Rate in April
IRVINE, Calif. – May 26, 2009 – RealtyTrac™, the leading online marketplace for foreclosure properties, announced today that it has expanded its foreclosure data reach through its agreement with PRIMEDIA Inc. that allows website users of www.americanhomeguides.com, www.rentals.com and www.rentalhouses.com to search foreclosure properties via a real-time feed from RealtyTrac’s nationwide database of default, auction and bank-owned homes. PRIMEDIA, a leading provider of print, Internet and mobile solutions to help consumers find a place to live, also announced that its Websites saw increased views to its foreclosures sections in first quarter 2009 when compared to fourth quarter 2008.
“PRIMEDIA adds vast property rental marketplaces to our growing list of business associates,” said Ari Monkarsh, vice president of business development at RealtyTrac. “We are excited that this opportunity to provide PRIMEDIA’s online visitors with access to the most comprehensive and up-to-date list of foreclosure properties nationwide has been realized so successfully over the last several months. This is indicative of consumer interest in researching foreclosed properties.”
“Interest in foreclosure properties is on the rise as consumers continue to consider and evaluate them as potential investment opportunities,” said Arlene Mayfield, senior vice president and president of PRIMEDIA’s Apartments and Homes divisions. “RealtyTrac has allowed us to meet that consumer demand, while expanding our housing options and listings on AmericanHomeGuides.com, Rentals.com and RentalHouses.com. For example, in the first quarter of 2009, AmericanHomeGuides.com has nearly tripled visits to its foreclosure section and Rentals.com has seen a 72% increase in visits to its foreclosure section since fourth quarter 2008.”
In 2008, more than 3.1 million foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on more than 2.3 million properties nationwide, an 85 percent increase in total filings from 2007 and a 225 percent increase from 2006. About 50 percent of the 4.57 million homes sold in March 2009 were bank-owned foreclosures and short sales, according to the National Association of Realtors.
About RealtyTrac Inc.
RealtyTrac (http://www.realtytrac.com/) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, and detailed property, loan and sales data appended to its foreclosure records. 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.
Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, USA TODAY, and many others, 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.
About PRIMEDIA Inc.
PRIMEDIA Inc. helps millions of consumers nationwide find a place to live through its innovative print, Internet and mobile solutions. From publishing its flagship advertising-supported Apartment Guide since 1975 to launching industry-leading online real estate destinations such as ApartmentGuide.com, Rentals.com and NewHomeGuide.com, PRIMEDIA continues to simplify the consumer home search and drive leads that result in occupancy for property managers, landlords, new home builders and real estate professionals. For more information, visit www.primedia.com.
PRIMEDIA, Apartment Guide, ApartmentGuide.com, My.ApartmentGuide.com, Rentals.com, RentalHouses.com and NewHomeGuide.com are trademarks and/or registered trademarks of PRIMEDIA Inc. All rights reserved.
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