SOURCE: RealtyTrac

RealtyTrac

May 24, 2016 11:58 ET

HomeDisclosure.com Now Reports Hundreds of Porter Ranch-Style Underground Storage Facilities Near 4.8 Million Homes

Underground Natural Gas Storage Tanks Are Located in 28 States Across the U.S.

IRVINE, CA--(Marketwired - May 24, 2016) - RealtyTrac® (www.realtytrac.com), the nation's leading source for comprehensive housing data, announced today that its pre-diligence website, www.HomeDisclosure.com, has identified the locations of more than 300 natural gas underground storage facilities across the county.

Consumers can now use HomeDisclosure.com to find out if a home they're interested in buying or renting is near any one of these facilities. One of these facilities -- in Aliso Canyon in Porter Ranch, California -- became national news in October 2015 when it began leaking methane gas into the air, causing over 2,500 families in the Porter Ranch neighborhood of Los Angeles County, California to evacuate their homes. Many residents reported illnesses believed to be caused by the exposure of the excess levels of methane gas in the air, reportedly up to a 10-mile radius of the Aliso Canyon facility.

"There are more than 300 underground storage facilities across the country, many of which are near populated areas," said Michael Sawtell, executive vice president and general manager at RealtyTrac. "Of course most will never suffer a leak or will ever have an issue, but our feedback indicated the home buying public was very interested if a property that they live in or were looking to purchase was located anywhere near such a facility. The HomeDisclosure report will identify all properties within a 10-mile radius of the 300-plus underground storage tanks across the country."

HomeDisclosure.com is a new cutting-edge property pre-diligence website recently launched by RealtyTrac that enables the real estate industry and consumers alike to conduct due diligence on a property early in the process of buying, selling or renting a home. Its popularity has taken off since its Jan. 26 beta launch, generating more than 85,000 reports for 37,000 users across the country.

"Consumers want as much information as possible before buying or renting a home," said Sawtell. "Home buyers are no longer satisfied just getting disclosure information at closing of the property. If consumers want to research the history of a $30,000 car, they will all the more want to research the history of a $300,000 home and the neighborhood where it is located -- opening a niche for a comprehensive property and neighborhood report like HomeDisclosure.com."

In addition to the new underground natural gas storage facilities, the HomeDisclosure.com report also provides over 42 categories of home and neighborhood data -- including addresses of nearby registered offenders and former meth labs, natural hazard risks, environmental hazard risks, crime ratings, school test scores, median income and much more hyper-local data. View sample report

RealtyTrac built Home Disclosure from the ground up using public record real estate data (sales deed, mortgage, tax and foreclosure data), along with neighborhood risk data. The result is a very compelling data set, packaged within a convenient mobile-first user interface specifically designed for real estate professionals or consumers who are performing pro-active, pre-diligence on a home -- whether they are looking at that home for purchase or rental, or whether they already own or rent the home.

About RealtyTrac
RealtyTrac is a leading provider of comprehensive U.S. housing and property data, including nationwide parcel-level records for more than 130 million U.S. properties. Detailed data attributes include property characteristics, tax assessor data, sales and mortgage deed records, distressed data, including default, foreclosure and auctions status, and Automated Valuation Models (AVMs). Sourced from RealtyTrac subsidiary Homefacts.com, the company's proprietary national neighborhood-level database includes more than 50 key local and neighborhood level dynamics for residential properties, providing unrivaled pre-diligence capabilities and a parcel risk database for portfolio analysis. RealtyTrac's data is widely viewed as the industry standard and, as such, is relied upon by real estate professionals and service providers, marketers and financial institutions, as well as the Federal Reserve, U.S. Treasury Department, HUD, state housing and banking departments, investment funds and tens of millions of consumers. In January 2016, RealtyTrac announced the beta launch of its new consumer focused, mobile first, property report website, HomeDisclosure.com, which provides real estate consumers and professionals alike, detailed pre-diligence data for nearly 120 million U.S. homes.

Contact Information