Realogics Acquires OnSite Assets

President and CEO of Realogics, Dean Jones, is announcing their recent acquisition of Windermere “OnSite” brokerage assets, which has been responsible for over 1,000 presales during the condo boom in downtown Seattle and Bellevue.

“An independent brokerage provides us flexibility to explore all opportunities while ensuring both continuity and the highest level of professionalism for our developer clients, the real estate community and the homebuyers for which we serve,” said Dean Jones, President and CEO of Realogics, Inc.  “Realogics will now expand its offering beyond new construction to provide a broader spectrum of marketing and real estate services under one roof.”

Jones also announced that Sam Cunningham, prior Vice President of Windermere Builder Services, will be appointed as Designated Broker.

“We recognize the approaching dearth of new construction projects in the supply pipeline – so this acquisition is well timed for us”, said Pat Grimm, a co-owner of Windermere OnSite and the designated broker (and sole owner) of Windermere Real Estate / Capitol Hill, Inc. “Realogics is an exceptional marketing and sales enterprise and they are well positioned to manage their brokerage operations moving forward.”

Through personal experience with our clients, Jones and Cunningham have done a superior job in handling our clients’ needs throughout the transaction process, and we are excited to see a company like Realogics joining the team of boutique brokers in Downtown Seattle.  In the meantime, OnSite will retain their builder-oriented franchise agreement with Windermere Real Estate. Realogics has listed both Fifteen Twenty-One Second and The Parc, and helped Windermere Onsite assign agents to seller’s in-house sales teams at Escala, Gallery, Equinox and Bravern Signature Residences.  Realogics will also continue its relationship as a marketing partner with both Escala and The Bravern. The firm also launched an updated website.

Big Week for Downtown Real Estate – Buyer’s Moving Off the Sideline

Dean Jones with Realogics (award-winning marketing catalyst for residential and mixed-use real estate) informed us of some great news regarding new construction sales. News and media headlines have sidelined buyers this season and new construction sales are generally not accounted for in Seattle’s NWMLS pending and sold statistics. So here’s the inside scoop:

• 3 homes have already sold at 1521 for an approximate $3 $9 million.
• There has also been a number of sales made for GALLERY.
• Equinox chalks a sale.
• Escala still consistent in sales.
• Bravern in Bellevue has also made an approximate dozen sales just over the weekend and they’re booked with appointments all month.

However, Dean also informed us that credit and construction costs require new construction high-rises to be priced in the $850 to $900 per square foot to pencil. Hint: an exception may be AVA.