realtytrac.com Deal with Primedia

US foreclosure marketplace realtytrac.com has announced that it has expanded its foreclosure data reach through an agreement with Primedia Inc. The deal allows users of Primedia owned websites americanhomeguides.com, rentals.com and rentalhouses.com to search foreclosure properties via a real-time feed from RealtyTrac’s nationwide database.

realtytrac.com revealed a similar deal with Gabriels Technology Solutions just weeks ago.

Primedia Inc. has published its flagship advertising-supported Apartment Guide since 1975, and more recently introduced a host of websites to its offerings.

“Primedia adds vast property rental marketplaces to our growing list of business associates,” said Ari Monkarsh, vice president of business development at RealtyTrac in a statement from the company. “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.”

RealtyTrac says that 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.

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