California-based ""RealtyTrac"":http://www.realtytrac.com, an online marketplace for foreclosure properties, recently integrated the property-rating system HomeScore on nearly 2 million foreclosure and for-sale properties on its Web site.
[IMAGE] Created by ""SmartZip Analytics"":http://www.smartzip.com, a real estate analytics company that is also headquartered in California, HomeScore is designed to allow users to pinpoint properties with the best potential for appreciation over time.
""This partnership offers great value to RealtyTrac users, giving homebuyers and investors the ability to easily find foreclosures and for-sale properties that represent the best buys,"" said James J. Saccacio, CEO of RealtyTrac.
""Backed by SmartZip's robust property and neighborhood analytics, the HomeScore ratings are displayed on RealtyTrac's search results pages, allowing users to sort[COLUMN_BREAK]
and filter properties by their scores, and in-depth property reports with historical charts and the data behind the ratings are available on the property details pages,"" Saccacio explained.
Visitors to the site who perform a property search will find a HomeScore rating for properties in their area of interest. The rating, which indicates a home's investment quality on a scale of one to 100 (50 being the national average), measures a property's potential to have above-average appreciation and below-average costs.
The higher the HomeScore rating, the greater the home's investment potential. While properties scored above 50 are expected to outperform the market, those scored below 50 are expected to underperform.
A HomeScore between 35 and 65 is considered a ""good"" investment. A score above 65 is ""very good"" to ""excellent,"" and below 35 ranges from ""fair"" to ""poor.""
""Today's real estate market is characterized by unprecedented uncertainty and opportunity,"" said Tom Glassanos, president and CEO of SmartZip Analytics. ""RealtyTrac's adoption of SmartZip's HomeScore ratings addresses each of these head on, giving homebuyers the means to easily tap the foreclosure market while ensuring purchases are financially sound.""
RealtyTrac has put together a brief video explaining how SmartZip HomeScore works on its site, which can be ""accessed via YouTube"":http://www.youtube.com/watch?v=qC0oQRJrR0s&feature=youtu.be&hd=1.