RealtyTrac is hoping to help homebuyers ensure they're moving into a desirable area with a new and fully comprehensive home report too that offers insights into more than 115 million homes across the U.S.
The new report provides critical information on more than 42 factors, many of which are unavailable or extremely difficult to obtain elsewhere that can impact resident's health, safety and financial security. Also included in the report is 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 benefits of a home such as excellent schools and a clean environment free of hazards.
Available in beta now ahead of its full launch early next year, RealtyTrac's Home Disclosure report is 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.
In a statement, RealtyTrac said it knew there was a consumer need and want for this product based on skyrocketing traffic to its neighborhood research website Homefacts.com (130 percent increase from a year ago and accelerating) and surprisingly strong traffic to off-market properties on its foreclosure search site RealtyTrac. Two of the most-viewed pages on Homefacts were 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.
RealtyTrac built its Home Disclosure report from the ground up using mobile-first technology, pulling in both public record real estate data (sales deed, mortgage, tax, foreclosure) along with neighborhood amenities and risks data, and 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.