HomeTrackR Finds A Home In Charleston

Former Charleston resident Rich Estes is tracking his way home with his tech startup HomeTrackR, a home history reporting tool he recently developed. In the Washington, D.C., area since 2011 to pursue an MBA at Johns Hopkins Carey Business School, Estes has chosen Charleston to launch his new business.

"I lived in Charleston from 1999 to 2011 and loved it," Estes said. "It's a creative and energetic place for entrepreneurs, and it's attracting serious technology attention from all around the country." Among the serious technology being attracted is his reporting tool, which provides information about a home in an easy-to-understand report.

"Our tool is meant to give more information than what you've had before," Estes said. "It's designed to take the data and put it into a format that'll help you make one of the most important buying decisions of your life. It can save both buyers and real estate agents thousands by weeding out those homes that have hidden problems."

Estes said he marinated on the idea for four years before it solidified and grew into a solid business concept about a year ago. In the last six months, the project gained traction. "Now things are happening quickly," he said. "We're moving toward building and finalizing the web and mobile apps."

HomeTrackR aggregates digital information from public and private sources -- mostly public, Estes noted -- to provide useful information about the history of a home. "We're trying to capture a new market that hasn't existed before," he said. "After the actual home inspection, a lot of deals fall apart. This report could let people know some information about the house before they get to that point."

Using predictive analytics, the report could point out some red flags."For instance, it'll show if the home was in foreclosure within the past ten years," he said. "That's not necessarily a bad egg, but you might want to look closer because that could indicate the home had been vacant for a while and might have maintenance issues."

Estes pointed out that 40 percent of all homes on the market have at least one serious problem in areas such as HVAC, the roof or structural issues. The report would show whether any work had been done and when. "You can get information about permits, insurance claims, inspections and even contractors who've worked on the property," he said. "That can give you some peace of mind before you buy."

The target market -- besides homebuyers -- includes real estate agents, inspectors and service industry professionals who do maintenance, such as HVAC technicians, electricians and plumbers -- which were all part of the community Estes knew well during his career in residential construction and real estate.

"When I was a builder, I was part of the transaction," he said. "I filed permits and saw all the information that went into buying and selling homes. I knew all that information was valuable, but no one had organized it into a usable format."

It occurred to Estes that with some predictive analytics, he could take the raw information and put it into a usable display, including mobile apps. Although there are some reporting agencies that provide similar information -- and technology has made getting the raw data easier -- Estes said that no one does all of it the way HomeTrackR will.

"Our long-term goal is to be the resource to make the home-buying process easier," he said.

The product is in beta testing now in Charleston and in the Greater Washington area, which includes Northern Virginia. Estes said beta testing is more heavily focused in Charleston, and additional testing will soon ramp up in a few other cities. The projected roll-out is set for this spring, with a new website in the next 30 days that will have more informational tools.

The office will locate in Charleston in the fall. Between now and then, he plans to recruit "about a dozen people" -- consisting of programmers and data analysts, marketing professionals, and sales and marketing teams -- and the staff is expected to triple by 2015.