When insurance industry veteran Eddy Lang secured the Housefax.com domain a decade ago, bidding wars broke out the moment a home hit the market. Buyers closed in before even looking inside, and banks lent money without looking beyond a paystub. “Buyer Beware” wasn’t a concern. But Eddy was looking to the future, and indeed, the market crashed.
A few years later, sensing an opportunity in today’s emerging but cautious housing market, real estate entrepreneur Mike Abdy shared the same vision with his idea for comprehensive and proprietary property reports. The two joined forces last year, built the team and created the company to take advantage of today’s recovering housing market, where careful buyers are starting to buy houses again after five years of devastating market conditions. Bright spots like Las Vegas and San Jose that took some of the nation’s biggest real estate hits are showing dramatic upswings in sales and volume – and individual, private buyers who are looking to find a new home for their families are leading the charge instead of bulk-buying institutions and banks looking for shorter-term investment flips.
Representing a new generation pursuing the American Dream, many of today’s new buyers have never bought a home before, and are approaching their purchases with more care and prudence than ever. Housefax believes that cautious but informed American consumers will continue to drive this resurgence in sales, but only with a heightened level of assurance in their purchasing decisions. The Housefax mission is to provide property history reporting for the millions of homes that will be sold as the market rebounds over the next several years, working with both buyers and sellers to assure that the trend keeps moving in this positive direction with as much personal security and business integrity as possible.