Electronic Appraiser to Offer Full 1004 Reports Direct to the Consumer Through Partnership with eAppraiseIT

Nationwide Appraiser Network Provides Consumers with Access to Full Appraisal in Just Five Days (BUSINESS WIRE)--April 5, 2006-- Electronic Appraiser (EA), the industry-leading provider of online home valuations direct to the consumer, announced today that the company is set to offer access to eAppraiseIT's nationwide appraiser network to provide full 1004 appraisals, positioning EA as the only one-stop-shop for all home valuation and appraisal needs. The full 1004 appraisal will aid transactions in a fast-growing segment of residential real estate: do-it-yourself homeowners in the For Sale By Owner (FSBO) market. The 1004 appraisals will be made available through EA's site and will be seamlessly integrated into EA's FSBO partner sites through the use of the company's private label solution. "eAppraiseIT is encouraged by Electronic Appraiser's ability to reach the consumer directly," said Anthony Merlo, president of eAppraiseIT. "EA is an excellent distribution channel for our services, due to their great success in identifying with consumer's needs and delivering products and services in new and innovative ways." EA identified a significant need for homeowner's to have both a fast and affordable option to value their home in the case where a full appraisal is necessary. Some such situations are if public record is not available for the automated valuation model (AVM) or if the subject property's value is expected to exceed $750K. In any case, an accurate value is fundamental in the successful pricing and eventual sale of a home. "Our Private Label partners and direct customers have been asking for a traditional 1004 appraisal product for a while. With eAppraiseIT's nationwide network of appraisers, EA will offer the final appraisal option for any homeowner," said Greg Sullivan, president and CEO for Electronic Appraiser. "Additionally, the nationwide flat-rate pricing that we are offering for a 1004 appraisal will fit perfectly in the For Sale By Owner consumer market." Homeowner's will find value in this new offering, which is normally priced at $375.00, and in the speedy results. The 1004 appraisal report, performed by a local and licensed appraiser in their specific neighborhood, is typically delivered electronically within five days of submitting the order - excluding any unusual circumstances. Each stage of the process can be viewed online by the end-user. This will be a major improvement from the weeks it can take to locate and retain an appraiser, saving both time and dollars for the homeowner. Slated to launch later this month, EA expects to see immediate orders from its 70K plus unique visitors each month. Appraisal , Real Estate , Appraiser , Technology