VISTA Information Solutions Inc. Launches Free Preliminary Natural Hazard Report Service in California Home Disclosure Market.SAN DIEGO--(BUSINESS WIRE)--Feb. 9, 1999-- VISTA Vista (vĭs`tə), uninc. city (1990 pop. 71,872), San Diego co., SW Calif., near the Pacific coast, in an agricultural and resort area; inc. 1963. Redefines "Best Practices" for Real Estate Professionals With a Unique eCommerce Solution That Leverages Its Proprietary Databases and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Capabilities VISTA Information Solutions Inc. (Nasdaq:VINF) (VISTA) Tuesday announced that it is now distributing its preliminary natural hazard disclosure report, known as a "VISTA Prelim," free of charge to real estate agents listing properties in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). . The company estimates that approximately 50,000 homes are listed for sale each month in California and plans to distribute "VISTA Prelims" to the agents who hold these listings. "VISTA's mission is to help improve the efficiency and productivity of residential real estate brokers. Using our proprietary databases and newly automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. report generation process, `VISTA Prelim' makes the escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. process easier by alerting the listing agent to natural hazard or environmental surprises as soon as a property is listed," said Tom Gay, president and chief executive officer. "This state-mandated information has never before been so conveniently available. Similar in concept to a preliminary title report, `VISTA Prelim' redefines the concept of `best practices' in the residential real estate industry. "Then, to meet the new AB6 mandatory disclosure requirement, all the agent has to do is use the pre-filled order form provided with `VISTA Prelim' to receive the full protection of our Total DiscloSure! Package from VISTA prior to closing. "The final report includes full-color maps showing the location of the property and all relevant hazard zones, flood certification when needed, and the official mandatory Natural Hazard Disclosure Statement. The Total DiscloSure! Package is backed by VISTA's full errors and omissions errors and omissions n. short-hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence. insurance coverage, eliminating disclosure risk for the broker -- another way we help realtors improve their businesses. "Ultimately, these home disclosure products will be available over the Internet through VISTA's alliance with HomeSeekers.com (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :HMSK). This unique eCommerce solution is an outstanding growth opportunity for VISTA. The potential market for home disclosure information is estimated to exceed $50 million in California alone. "We also expect the market to expand substantially as consumers around the country become aware that natural hazard and environmental information are both readily and inexpensively in·ex·pen·sive adj. Not high in price; cheap. in  ex·pen sive·ly adv. available online." Gay continued: "We have built VISTA by steadily lowering the cost and facilitating access to environmental and risk assessment data through Internet and related eCommerce technology. Now we have created an eCommerce solution that leverages our investments in database and Internet technology development to reach out electronically to a large pool of potential new customers, including consumers, who need our data to complete a home real estate transaction. "This is why we are so excited about the potential for `VISTA Prelim' to expand the market for VISTA products and services. It also will help us to achieve our goal of becoming the primary source of environmental and home disclosure data for the real estate industry. We expect the `VISTA Prelim' to be a model for similar programs in the future." VISTA Information Solutions, based in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. with offices nationwide, is an Internet risk management information provider to consumers and the real estate, environmental engineering, insurance, financial and legal industries. VISTA maintains and enhances the largest database of location-specific real estate, environmental and insurance underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. information in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . VISTA's databases and technology are used to evaluate property risk and underwriting conditions at more than 1 million properties every month. For information about VISTA, call 800/733-7606 or visit other VISTA Web Sites at www.vistainfo.com, www.vistadisclosure.com, www.vistabanking.com or www.vistacheck.com. |
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