HomeGain Press Release

April 11, 2000

Selling A Home Starts With Assessment Of Value

HomeGain Valuation Tool Helps Homeowners Pinpoint Price Tag For Their Most-Important Asset

Emeryville, CA - It's springtime and you're considering the sale of your home. It's been a while since you bought it, so how much is it worth today?

At its site, www.homegain.com, HomeGain offers homeowners a free, easy to use home valuation tool. It takes just seconds to register and enter the property's street address, city, state and zip code.

In less than 10 seconds, HomeGain generates an online valuation estimate for the subject property in a range, usually varying 10 percent from low to high -- for example, $200,000 - $220,000. "Reported characteristics" include the year the home was built, living area in square feet, lot area in square feet, bedrooms, baths, and both the home's assessed value and the latest date that valuation was set.

HomeGain also offers prices and dates comparable homes sold for recently in the neighborhood. For easier comparison, HomeGain provides the year the comparable home was built, lot area size, living area size, and total rooms/bedrooms/bathrooms.

HomeGain provides registered users with as many as five free valuation reports.

Jack and Lorrie McCreary, homeowners in St. Petersburg, Fla., were looking to sell their home but didn't know what price to ask. An article in the St. Petersburg Times directed them to HomeGain.

"We weren't sure about the value of our home," Lorrie said. "HomeGain gave us valuable statistics about neighborhood sales completed within the past few months, and we were able to find the right value range of our home." After choosing a HomeGain agent, the McCreary's home sold in four days.

George O'Keefe, a homeowner in Novato, Calif., called HomeGain's valuation tool, "The most valuable HomeGain feature for me."

"It gave me a good idea what houses like mine were selling for in my neighborhood," O'Keefe said. He successfully sold his home with the help of a HomeGain real estate agent.

Each month, HomeGain conducts a survey of registered home sellers to measure their expectations and tendencies. The average expected home sale price reported by HomeGain sellers nationwide is approximately $40,000 higher than the actual sales price achieved by their offline counterparts. That "aggressive expectation", according to HomeGain CEO Bradley Inman, is a direct result of consumers doing their homework and assessing the value of their home.

"Securing a solid estimation of the value of your house is an absolutely critical first step in the home selling process," Inman said. "Consumers gain a level of confidence when they've had a hand in determining the value of their most important asset. With resources from HomeGain, homeowners can actively participate with their agent and set the stage for the successful sale of their property."

Armed with a valuation tool result, a homeowner can then submit a seller's profile online with HomeGain and begin the search for a qualified, high-producing agent in their area. HomeGain provides details about the home, plus the street name and zip code to agents, who then submit proposals to the homeowner via computer. The seller remains anonymous throughout the matching process. A home seller can then choose the HomeGain agent with whom they wish to work.

NOTE: The HomeGain valuation tool is not an appraisal. The Valuation Tool result is a possible value range. The result cannot replace an appraisal or similar report rendered by a licensed, professional appraiser or a Comparative Market Analysis (CMA) conducted by a real estate agent selected through HomeGain. HomeGain encourages users to always consult a licensed appraisal professional or experienced, local real estate agent before contemplating any real estate transaction.

About HomeGain

HomeGain® is a leading provider of online marketing solutions that connect real estate agents and brokers with home buyers and sellers. HomeGain offers free services to find and compare real estate agents, research home values, and view homes for sale. Since 1999 REALTORS® have used HomeGain's real estate marketing programs to connect with consumers, promote their services and grow their business. HomeGain.com has been a top visited real estate website since 1999. HomeGain is your real estate connection.

About Classified Ventures

Classified Ventures™ is a strategic joint venture among six media companies whose objectives are to collectively capitalize on the revenue growth in the online advertising categories of real estate, automotive and rentals. To execute on its objectives, Classified Ventures has created three leading businesses - Homescape, Cars.com and Apartments.com. Homescape delivers online real estate solutions to a network of over 150 newspapers. Visit www.classifiedventures.com.

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