HotPads.com, Fortune Magazine's 'Need to Know' Web site, Launches New Tools for Housing Search

Innovative Features Help Users Navigate the Declining Housing Market to Find the Home of their Dreams WASHINGTON, June 11


WASHINGTON, June 11 /PRNewswire/ -- HotPads.com, (http://hotpads.com), the
leading map-based housing search and listing service, today re-launched to
include exciting new tools for housing and apartment hunters navigating
today's rocky housing market. Fortune Magazine recently listed HotPads.com as
the "Need to Know" Web site for housing and neighborhood information.


"This launch ensures that HotPads will remain 'the place to find your
place' for a long time to come," said HotPads President and CEO Andy Blacker.
"The innovative tools we unveiled today are only the beginning of a series of
improvements and updates we have planned."


The revolutionary new Web site features the very first online Rent Ratio
Heat Maps allowing apartment hunters nationwide to visually see where it makes
sense for them to rent or buy, based on the ratio of rental and for sale
pricing. HotPads.com seeks not only to show housing availability, but also to
educate the consumer on their best option in a sensitive economy.


"We all know that when it comes to renting a house or apartment,
determining the cost of rent for a given area can be like playing a game of
Russian Roulette," said Matt Corgan, co-founder and Director of Technology.
"The Rent Ratio Heat Map takes the guess work out of choosing where to rent or
buy by providing users with information on prices in a given neighborhood or
location."


In addition to this new feature, the HotPads site also includes the first
Buy vs. Rent advisor allowing users to compare homes and apartments for sale
as well as homes and apartments for rent simultaneously on the same map-based
search page. Results for Buy vs. Rent inquiries are calculated using estimated
monthly costs.


According to a report released last week by the Mortgage Bankers
Association, nearly 1 in 10 American homeowners with a mortgage faced
foreclosure or fell behind in their payments in the first three months of this
year. The period from January to March marked the worst quarter for American
homeowners in nearly 25 years, the report states. In the down real estate
market housing shoppers are grappling with the Buy vs. Rent decision. HotPads
makes it possible to assess housing affordability with tools that help
Americans to formulate sound financial decisions.


"Purchasing a home is always an important decision but it can be
particularly nerve-wracking when there are so many market uncertainties," said
Corgan. "HotPads helps housing shoppers decide whether renting or buying is
right for them while assisting their search for the perfect home."


The revamped site also features a dynamic Foreclosure Heat Maps that show
markets hit hardest by the ever-growing housing crisis and increased
foreclosure rate. Foreclosure heat maps are updated on a weekly basis, so
consumers can track trends in the marketplace. Foreclosure information is
provided by RealtyTrac, (http://www.realtytrac.com), the leading online
marketplace for foreclosure properties. Housing shoppers will be able to
investigate all of RealtyTrac's foreclosure information on HotPads' map-based
search engine.



About Hotpads.com


Hotpads.com launched its map-based housing search and listing service in
November 2005. Since its launch, Hotpads.com has become one of the fastest
growing active listing services on the Web. Founded by two Notre Dame
roommates turned entrepreneurs, HotPads' goal is to simplify the process of
housing search through superior technology and services. For more information,
please call Douglas Pope, co-founder of HotPads.com, at 202-333-7474, or email
dpope@hotpads.com, or visit the Web site at http://hotpads.com.



SOURCE  HotPads.com