- The New York Times reported that Fremont’s Getty Images is on the market for $1.5 billion! (read more)

- ActiveRain is set to receive $2.75 million in the first round of investment from Kirkland-based HouseValues.  ActiveRain will use the new funding for developing an outside blogging platform which will allow agents to create and operate individual blogs aside from the ActiveRain network. (read more)

- DOMAINfest Global kicked off its first day of events in Hollywood…industry leaders and domainers from all over the world attend this event.  Seattle-based EVOlanding headed down this morning…if you own a portfolio of domains make sure to check out their website so that your parked internet real estate can make you some moola! 

Zillow.com announced partnership with Prudential California/Nevada/Texas Realty and Network Communications Inc. today in hopes to add more than 500,000 for-sale listings to its site daily. 

The Zillow Listings Feed program allows brokerages and publishers to post for-sale listings automatically to the site for FREE- check out the details.  According to Zillow, over 4 million people visit the site every month and 70% of visitors are looking to buy or sell immediately. 

Click here to read more!

It is official- Amazon.com is moving its headquarters to South Lake Union.  The new headquarters will include up to 11 new buildings within the 6-block span along Terry and Boren Ave. between Mercer and John St. The new office space is set for completion in 2010 with full occupancy in 2011 and will total up to 1.6 million square feet!

Following South Lake Union’s trend in sustainable development practices, Amazon.com’s new headquarters will be targeting LEED certification as sustainable, eco-friendly facilities. For those of you who need a refresher, LEED (Leadership in Energy and Environmental Design) is a national industry measurement tool created by the U.S. Green Building Council used to define the industry’s most environmentally-conscious projects.

“Amazon.com is one of those great Seattle success stories and I’m pleased the company has decided to stay right here in its hometown,” said Seattle Mayor Greg Nickels. “The move also highlights the great things happening in South Lake Union, where we are seeing new jobs, homes and parks transforming this area into a dynamic and diverse neighborhood in the heart of our city. My goal is make Seattle a great place to live and work. This move does both by bringing thousands of jobs to the South Lake Union area — with room to grow — and helping to build new affordable homes in our Center City.”

Click here to read the press release and my previous post on zoning challenges.

Last Wednesday, a City Council panel approved Vulcan’s plans to build three 12-story buildings within 6 blocks along Terry and Boren Avenues.  The project will bring at least 4,000 more jobs to the neighborhood and is expected to be the new headquarters for Amazon.com.

In exchange for the zoning change, the panel determined that Vulcan will pay over $6M for affordable housing and public benefits, build environmentally friendly buildings with green landscaping and support commuters who get to work by bus, bicycle or car pool.

“South Lake Union isn’t the redheaded stepchild anymore. It’s not warehouses and broken trolley lines going nowhere. It’s beautiful, and it seems like changing the rules in light of that … seems like common sense.” - Ron Sandahl, Artistic Director of the Open Circle Theater

Click here to read more

According to a press advisory that was issued this morning, it looks like Paul Allen and Bill Gates are meeting tomorrow morning for a news conference in South Lake Union to discuss the possibility/future plans of a Microsoft expansion into the 206. 

Good news for our real estate market and SLU! Click here to read more.

- Thanks Jeff!

The Puget Sound Business Journal reported that Redfin is launching a message board that will allow their customers to converse over topics such as “how much commission local real estate agents are being paid and how to bid lower for housing properties.” 

I am sure at some point this will cause a stir but Redfin’s ultimate goal is to create a new way of communication for those independently buying and listing their homes. 

It sounds as if Redfin is also anticipating a battle as the company spokeswoman stated “it’s almost guaranteed the MLS will come after it (and) this time we will fight.”

More to come…

Just in….

Another online realty company targets Seattle
Puget Sound Business Journal (Seattle) - 2:47 PM PDT Friday, June 15, 2007
by Eric Engleman

BuySide Realty Inc., a Chicago-based online discount real estate brokerage, has begun listing homes in Seattle, the home turf of one of its main rivals, Redfin Corp.

Both BuySide and Redfin give people who buy a home with their services a partial refund on the commission that normally goes to the buyer’s agent. Such online discount brokerages have sparked friction with traditional real estate agents.

BuySide CEO Joseph Fox declined to comment, and Redfin CEO Glenn Kelman could not immediately be reached for comment.

When a home sells, the buyer’s and seller’s agent each earn a percentage of the home price, typically 6 percent, which they divide equally between themselves.

If a person buys a home through BuySide or Redfin, these services will refund part of the commission that go to the buyer’s agent. BuySide refunds 75 percent of that commission; Redfin refunds two-thirds of the commission.

BuySide Realty was founded a year ago. Beyond Washington state, it offers discount brokerage services in California, Florida, Georgia, Illinois and Virginia.

Redfin’s area includes Seattle, the San Francisco Bay Area, Los Angeles, Orange County, San Diego and Boston.

The Redfin website indicates it plans to expand to Washington, D.C., this month and Chicago “soon.” BuySide Realty’s headquarters are in Chicago.

After last month’s drama…Redfin’s Sweet Digs has returned!

The new format or “extreme makeover” will now include information on past sales, price reductions, open house schedules, inventory info, average home prices, seller comments and more.  They will also be identifying neighborhood bargains, fixer-uppers and new listings.

Today, Jessica Swesey with Inman News gave updates on the most recent dispute between the NWMLS & Redfin. 

Puget Sound Business Journal - 6-12

Redfin Blog - 6-12