RealtyTrac has a new product, currently in beta, which provides information on more than 42 factors involving homeownership that are not available anywhere else all in one place, according to the announcement. A quick video overview is available at https://youtu.be/mILwn3pwZHQ.
The report includes critical information such as nearby registered sex offenders, nearby former drug labs as well as detailed real estate information, such as sales and loan history, building permits and much more. The report also highlights the benefits of a home such as excellent schools and a clean environment free of hazards.
The report was designed “to empower real estate consumers with critical information they can’t find anywhere else all in one place, and some of which is only disclosed to buyers at the last minute at the closing table – if it’s disclosed at all,” the announcement stated. “RealtyTrac knew there was a consumer need and want for this product based on skyrocketing traffic to our neighborhood research website Homefacts.com (up 130 percent from a year ago) and surprisingly strong traffic of off-market properties on our foreclosure search site, RealtyTrac. Two of the most-viewed pages on Homefacts are hyperlocal factors affecting a home’s value that would be least likely to be displayed on an airbrushed listing site: sex offenders and environmental hazards.”
The product was built from the ground up on mobile-first technology, pulling in public record real estate data (sales deed, mortgage, tax, foreclosure) and neighborhood amenities and risks data, then packaging that data in a user interface designed carefully for a very specific real estate consumer: one performing pro-active due diligence on a home—whether they are looking at that home for purchase or rental, or whether they already own or rent the home.
RealtyTrac intends to launch the full report in early 2016.