ELGIN, Ill.-HISPANIC PR WIRE– Starting April 23, 2008, thousands of RE/MAX Web sites in Northern Illinois, New Jersey, Kansas, Missouri, Oklahoma, Arkansas, Alabama, Louisiana, Mississippi and Michigan have gone live with a new consumer foreclosure property search feature. The respective RE/MAX Web sites for these states are: http://www.illinoisproperty.com , http://www.remax-nj.com ; http://www.remax-midstates.com (Kansas and Missouri), http://www.remax-oklahoma.com , http://www.remax-arkansas.com , http://www.remax-alabama.com , http://www.remax-louisiana.com , http://www.remax-mississippi.com , http://www.remax-michigan.com . The same search feature is also available through individual agent Web sites in these Regions.
This new feature is the result of a strategic partnership between RealtyTrac ( http://www.realtytrac.com ), the national leading source of foreclosure data; Reliance Network, a leading developer of Web-based applications for real estate companies and four independently owned RE/MAX Regions.
In 2007, more than 2.2 million foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on more than 1.2 million properties nationwide. This represents a 75 percent increase in total filings from 2006. The number of foreclosures continues to increase significantly in 2008 as millions of adjustable rate mortgages with teaser rates are reset.
RealtyTrac’s foreclosure data has been added to the comprehensive property search feature on the RE/MAX Web sites so that consumers can access pre-foreclosure and foreclosure properties (including auctions and bank owned) in the same Web site as MLS listings, recently sold properties and neighborhood valuation tools — thus providing a true 360-degree view of the market.
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