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HomeSpace and Domania Enter Partnership
ENGLEWOOD, Colo., Feb. 23 - Expanding its consumer advocacy tools
and services, HomeSpace(tm), Inc. today announced it will offer Internet users access
to home price data, under a strategic partnership with domania.com, formerly INPHO, Inc.
The HomeSpace Web site (http://www.homespace.com) will feature Domania's Home Price Check,
a unique searchable database of 21 million home purchase prices across the United States,
plus selling dates and addresses of homes and condominiums sold over the past seven years.
This service will be available through HomeSpace by April.
HomeSpace's full range of real estate and mortgage services also will
be featured on Domania's new independent consumer-orientated Web site, which was
previewed today at the Inman Real Estate Connect 2000 trade show in San Francisco. The
site is scheduled to launch next month.
"Access to home pricing information is valuable to consumers to assist
them in making a good offer when buying a home, estimating the value of their property
when contemplating a home sale, challenging a property tax assessment or estimating home
equity for refinancing or estate planning purposes," said Henry DeNero, Chairman and
Chief Executive Officer of HomeSpace. "This is another advocacy service we can offer our
customers to give them greater information and empower them even more."
As the "premier sponsor" of real estate and mortgage services, HomeSpace
will offer its consumer-friendly service line to users [JM1]on the Domania Web site through
search engines, links, and alerts and other messages to consumers.
"This is a partnership about giving consumers a more complete offering
of the service and information they need throughout the home ownership process," said Steven
Kropper, President of Domania. "More importantly, HomeSpace has a proven track record as a
strong consumer advocate, providing low prices, high service levels and consumer protections
on a variety of important home-related services. We are thrilled to be able to offer their
services."
Domania visitors also will have access to personalized services of trained
HomeSpace AdvocatesSM, unbiased representatives who serve as the customer's single point of
contact and personal troubleshooter throughout the transaction process.
In addition, HomeSpace will provide a number of tools, related services
and vital information designed to support consumers through every stage in the home ownership
process.
HomeSpace (http://www.homespace.com) serves as the consumer's advocate for the residential
experience, providing a full range of real estate, mortgage and home services, all accessible
through the Internet or a toll-free call to 1-877-HOMESPACE.
Under the advocacy concept, the company provides value-pricing, superior hands- on service,
information to educate the consumer, and intervention to ensure that its service partners
perform to HomeSpace's rigorous customer service standards.
Established in 1997 as the exclusive provider of mortgage and real estate services to Costco
Wholesale, HomeSpace has originated over 5,000 mortgages and completed more than 3,500 real estate
transactions.
HomeSpace's Realtor(r) network is the first and only national service that includes brokers
representing the nation's top franchises such as Better Homes and Gardens, Century 21, Coldwell
Banker, ERA, Prudential, RE/Max and Realty Executives, as well as many leading independents.
This nationwide network comprises brokers in 350 major markets in all 50 states, representing
70,000 agents.
The company gives consumers cash savings for using real estate brokers that are part of its
network. It also helps manage the real estate transaction and provides contractual protections
to consumers that are typically not available through a direct relationship with a real estate
professional.
HomeSpace is the fastest-growing mortgage broker in the United States, according to the 2000
edition of the Faulkner and Gray Mortgage Broker Directory. The company offers competitively
priced home loans from more than 60 national and regional lenders, including such leading
financial institutions as Bank America, Chase Manhattan, and Interfirst (a division of ABN Amro).
HomeSpace also provides home services from nationally branded companies for moving, home
warranties, home inspection, home security, long-distance telephone, insurance, home improvement,
home/carpet cleaning, lawn care and pest control, among many other services.
Major investors in HomeSpace include: Global Retail Partners (a fund managed by Donaldson,
Lufkin & Jenrette); Oak Investment Partners; Moore Capital Management; Pequot Capital Management;
and Robert Zangrillo, former chairman, CEO and co-founder of Interworld. Other investors are
Bluewater Capital; T. Rowe Price; and Weiss, Peck & Greer.
Boston, MA-based domania.com, an investment of CMGI @Ventures, was founded as INPHO, Inc. in
1989. Domania provides personalized tools and services that educate, empower and embolden
consumers to optimize a lifetime of real estate transactions and decisions.
Domania operates Home Price CheckSM , a unique database of over 21 million U.S home purchase
prices, and is the pre-eminent provider of free consumer access to home price data. At
www.homepricecheck.com, consumers can instantly find the purchase prices, selling dates and
addresses of homes and condominiums sold since 1993. In addition to Home Price Check, Domania
also provides free of charge a suite of personalized tools for consumers to assess home equity,
monitor neighborhood comparables and protest tax assessments.
Domania aggregates deed and tax data from a network of the country's premier regional data
compilers. The Home Price Check service can also be accessed through portals such as
http://realestate.yahoo.com/realestate/homevalues and http://aol.homepricecheck.com.
Realtor® is a registered trademark of the National Association of Realtors.
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