RealtyTrac® Acquires Homefacts®, Expanding Its Offering and Enhancing Its Value Proposition for the Real Estate Market
Company Welcomes Seasoned Internet Entrepreneur and Homefacts Founder James Moyle to Its Executive Management Team
IRVINE, CA – April 19, 2012 – (RealEstateRama) — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today announced that it has acquired online data aggregator Homefacts® (www.homefacts.com) in the company’s latest move to grow its market presence and effectively arm consumers with the information they need during the home-buying process. RealtyTrac enters this agreement poised to expand upon its data collection capabilities and broaden its data analytics offering with innovative new products that will further enhance the company’s value proposition.
Homefacts offers homeowners and prospective real estate buyers an online due diligence resource for making informed decisions regarding property-specific characteristics and health, environmental and safety information that are outlined in real estate disclosure documents but are not otherwise easily accessible to homebuyers.
As part of this agreement, Homefacts Founder James Moyle will join RealtyTrac’s executive team as president and chief operating officer. Moyle possesses a proven track record as a forward-thinking Internet entrepreneur, having grown the popularity of Homefacts to garner more than 3 million page views per month in the absence of a marketing budget or external financing, and previously founding and serving as president of the prominent online vacation rental sales retailer SkiWest before selling it to Overstock.com in 2005. In his new role alongside CEO Brandon Moore, Moyle will play an important day-to-day role managing RealtyTrac product development and consumer-facing teams in addition to shaping the strategic direction for the business going forward.
“We are excited about the new opportunities that adding Homefacts’ incremental data sets allow us to explore, from new product offerings and stronger real estate analytics to better data collection methodologies,” said Moore. “RealtyTrac’s trusted leadership position in the marketplace combined with the financial backing of our strong ownership team to make strategic acquisitions such as this puts us in a position of leadership to empower homebuyers, providing them with the important information they need in the home-buying process.”
Homefacts is a pioneer in the pre-diligence process for prospective homeowners, providing them the insights required to make informed decisions regarding cities, neighborhoods and properties before actually investing the time and effort to visit them.
“Our value proposition is simple: it’s about time,” said Moyle.
About RealtyTrac Inc.
RealtyTrac (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, along with detailed property, loan and home sales data. Hosting millions of 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.
About Homefacts
Founded in 2007 to provide home buyers with the environmental data needed to make sound purchasing decisions, Homefacts (www.homefacts.com) offers an online resource addressing the due diligence and housing compliance section of any real estate purchase contract, which suggests that a buyer researches hazardous substances, environmental issues, geological conditions, former drug labs, convicted offenders, local schools, and crime among other factors within a neighborhood. The first single source to effectively address this need, Homefacts aggregates key information to save buyers time and keep them informed when making one of life’s most important decisions. The company is located in Salt Lake City, Utah.
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Media Contacts:
Christine Stricker
949.502.8300, ext. 268
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