Roost and First American to Offer National Foreclosure Listings to Investors

San Francisco-based ""Roost Inc."":http://www.roost.com - a national real estate property search engine - announced yesterday that it has partnered with ""First American CoreLogic"":http://www.facorelogic.com - a ""First American Corporation"":http://www.firstam.com company and a provider of advanced property and ownership information, analytics and services - to add foreclosure listings from First American CoreLogic to ""Roost.com's"":http://www.roost.com database of homes for sale.
The partnership will offer real estate investors fast and easy access to information on more than 1.5 million foreclosed homes nationwide, the company's explained in a press statement.
""We are excited to have Roost.com become one of our national data syndication distributors,"" said Michael Maron, SVP of First American CoreLogic. ""Roost.com offers a high quality consumer experience for home sale listings and a commitment to quality that is a core value of both of our companies. Roost's superior search technology enables real estate investors and home buyers to act on great property opportunities quickly and thoughtfully, especially during the current downturn in the real estate market,"" added Maron.
Roost.com has combined its search technology and navigational design to show foreclosures in an easy-to-understand, color-coded format, the company said. Through Roost.com, users can access shorthand information on each foreclosure property - street, size, bedrooms, etc. - as well as its foreclosure status, from just-announced foreclosure to auction, bank sale, or reintroduction to the general real estate market. With the new partnership, investors will now be able to view summary property-level foreclosure data with instant access to RealQuest, First American CoreLogic's online property record Web site, where detailed property-level reporting is available on 97 percent of all U.S. properties.
""The upside of these challenging economic times is that real estate investors can help reinvigorate some markets, especially those hardest hit by the mortgage meltdown,"" said Alex Chang, Roost CEO. ""Because we offer listings at every stage of the foreclosure process, real estate investors can jump on immediate opportunities, while homes that don't sell right away or at auction will be reintroduced to the traditional market, giving everyday home buyers a chance to purchase their dream home.""
According to Roost, most popular real estate search sites are listing aggregates, and unlike Roost.com's Internet Data Exchange (IDX) network, these sites get their property listings from a variety of sources including brokers, magazine publishers, newspapers, other software companies, and sometimes, even each other. The result is often inaccurate and incomplete data, leading to frustration for home buyers, Roost said.
Additionally, Roost says its online platform helps real estate professionals form new connections with new potential clients, serving as an important ally for real estate agents struggling to stay afloat in one of the most difficult housing markets in history.