Product Overview of RealtyTrac
RealtyTrac is a comprehensive online real estate marketplace and data provider specializing in foreclosure listings, market trends, and detailed property information. Founded in 1996, it has become a leading resource for homebuyers, investors, and real estate professionals looking to navigate the complex landscape of distressed and foreclosure properties.
Key Features
1. Foreclosure Listings
- RealtyTrac offers an extensive database of over 1.5 million default, auction, and bank-owned listings from more than 2,200 U.S. counties. Users can search for foreclosed homes, pre-foreclosures, and bank-owned properties (REOs).
2. Detailed Property Information
- Each property listing includes comprehensive details such as estimated market value, foreclosure status, auction dates, loan information, property characteristics, sales history, and photos. The database also includes owner information, property debt, and tax history.
3. Market Trends and Analysis
- RealtyTrac provides detailed market trends, analytics, and insights through its monthly U.S. Foreclosure Market Report, as well as quarterly and annual recaps. These reports help users make informed decisions about real estate investments and purchases.
4. Advanced Search and Analysis Tools
- Users can search properties based on various criteria, including location, price range, property type, and foreclosure status. The platform also offers geographic search capabilities and tools to estimate a property’s profit potential using estimated property values from ATTOM and Zillow. The “Deal-o-Meter” rating system helps buyers assess the potential gross profitability of each property.
5. Educational Resources
- RealtyTrac provides educational resources, including articles, guides, and tutorials, to help users understand the foreclosure process and real estate market dynamics. It also partners with the Professional Education Institute (PEI) to offer foreclosure education programs for customers interested in purchasing REOs or bank-owned properties.
6. Mobile App
- The RealtyTrac mobile app allows users to view detailed real estate information on residential properties using their Apple iPhone or iPad. The app integrates mobile, social, and location-based technologies, enabling users to find homes via interactive map searches, take photos to view property details, and set up alerts for changes in property status.
7. Subscription Services and Reports
- RealtyTrac offers subscription services that provide access to premium data and reports. These subscriptions are valuable for real estate investors and professionals, offering unlimited access to foreclosure experts and exclusive online content.
8. Partnerships and Data Aggregation
- RealtyTrac partners with major online auction companies such as Auction.com, Hubzu, and others to supplement its proprietary database. This ensures users have access to the largest aggregation of online foreclosure auction properties available.
Functionality
- User-Friendly Interface: The platform is designed to be user-friendly, allowing users to easily refine their searches based on multiple criteria such as price range, square footage, property type, and foreclosure status.
- Real-Time Updates: The database is updated twice daily, ensuring users have access to the most current information on foreclosure properties and market trends.
- Investment Analysis Tools: Advanced tools help users estimate a property’s profit potential and generate a “Deal-o-Meter” rating, facilitating better investment decisions.
- Alerts and Notifications: Users can set up alerts when saved homes change status or when new properties become available in preferred areas, keeping them informed and up-to-date.
In summary, RealtyTrac is an indispensable tool for anyone involved in the real estate market, particularly those interested in distressed and foreclosure properties. Its robust database, insightful market analytics, and user-friendly resources make it a go-to platform for homebuyers, investors, and real estate professionals.