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Real Estate

Seattle office market continues to struggle as vacancy rates rise for ninth consecutive quarter

by Taylor Soper on April 4, 2024April 4, 2024 at 1:22 pm

A new Q1 report from Kidder Mathews shows regional vacancy rates in the Seattle area rising to 15.1%, up from 13.9% at the end of 2023, the ninth consecutive quarterly… Read More

Office-to-residential conversion is a trendy idea for downtown resurgence — but has big challenges

by Chuck Wolfe on March 24, 2024March 23, 2024 at 10:31 pm

Office-to-residential conversions are frequent fodder in discussions of the post-pandemic city, downtown regeneration, and hopes to contain rising housing costs. Remote work is here to stay, especially in hybrid form… Read More

Seattle real estate startup Flyhomes conducts more layoffs amid ‘worsening industry headwinds’

by Kurt Schlosser on December 15, 2023December 15, 2023 at 12:59 pm

Seattle real estate startup Flyhomes has conducted another round of layoffs as the company faces what it calls “persistent and worsening industry headwinds.” Flyhomes shared the news in a post… Read More

Zillow Group acquiring Follow Up Boss for up to $500M in quest for ‘housing super app’

by AJ LaTrace on November 1, 2023November 2, 2023 at 7:31 am

[This story originally appeared on Real Estate News.] Zillow Group is adding to its arsenal of agent tools with the acquisition of Follow Up Boss, a popular customer relationship management system for… Read More

Jeff Bezos buys $79M mansion in Florida’s exclusive ‘Billionaire Bunker’

by Kurt Schlosser on October 13, 2023October 13, 2023 at 9:01 am

Amazon founder Jeff Bezos is expanding his real estate portfolio with the purchase of a $79 million mansion in South Florida. And it’s next door to a home he paid… Read More

How Zillow Group is thinking about AI and the future of real estate

by Taylor Soper on August 7, 2023August 7, 2023 at 9:02 am

More and more companies are using AI and machine learning to boost their businesses. Zillow Group is no exception. “We want to make it easy for people to find homes… Read More

Zillow Group tops expectations but feels ongoing headwinds from tough housing market

by Todd Bishop on August 2, 2023August 2, 2023 at 10:23 pm

Zillow Group revenue rose slightly to $506 million in the second quarter, well ahead of its prior guidance of $451 million to $479 million for the three months ended June… Read More

Amazon officially opens first phase of HQ2 in Virginia with room for 14k employees

by Kurt Schlosser on June 15, 2023June 15, 2023 at 3:49 pm

Free bananas and dogs at the office — Amazon is officially open for business at its HQ2 in Arlington, Va. The Seattle-based tech giant cut the ribbon Thursday on Metropolitan… Read More

What Redfin and Zillow earnings say about the state of the housing market

by Nate Bek on May 8, 2023May 9, 2023 at 2:09 pm

Last week’s earnings announcements from Redfin and Zillow Group suggest a prolonged slowdown in housing market activity. Revenue from Redfin’s real estate services division dropped nearly 30% in the first… Read More

How SVB’s collapse could impact housing markets, according to a Zillow economist

by Nate Bek on March 14, 2023March 15, 2023 at 10:36 am

Silicon Valley Bank’s swift downward spiral could ease mortgage rates and push property prices downward in tech-heavy metros including San Francisco and Seattle. Those are key takeaways from Zillow Chief… Read More

Zillow, Redfin, and the real estate market: 5 trends to watch in 2023

by Nate Bek on January 13, 2023January 13, 2023 at 10:55 am

The once high-flying real estate market sputtered in 2022, dragging many real estate tech companies down with it. The sudden swing pushed companies to cut costs, which included layoffs and… Read More

Is the tech industry impacting Seattle’s cooling real estate market?

by Nate Bek on December 20, 2022January 4, 2023 at 1:57 pm

Seattle’s booming tech economy has altered the regional real estate market over the last decade, with home prices moving steadily upward in the face of low inventory and high demand.… Read More

Microsoft delays timeframe for 9 office buildings in massive HQ redevelopment

by Todd Bishop on December 15, 2022December 15, 2022 at 12:20 pm

Microsoft is pushing back the timeframe for nine of the 17 buildings in the redevelopment of its original Redmond headquarters campus, delaying their completion while saying it is still committed… Read More

How technology is helping remove racist language in Washington state property deeds

by Lisa Stiffler on November 28, 2022November 28, 2022 at 11:10 am

If you live in a home built before the 1950s, there’s a chance that lurking in its property records is racist language. For decades in the first half of the… Read More

Zillow Group beats Q3 expectations but cautions that real estate outlook remains ‘challenged’

by Nate Bek on November 2, 2022November 3, 2022 at 9:39 am

Zillow Group beat its third quarter earnings expectations amid a slowdown in the overall housing market and rising interest rates brought on by inflation. Revenue fell year-over-year in the company’s… Read More

Blue Origin office building
Video

Real estate report points to Blue Origin’s rapid expansion near HQ in Seattle area

by Alan Boyle on October 12, 2022October 12, 2022 at 5:05 pm

The workforce at Blue Origin, Amazon founder Jeff Bezos’ space venture, has been growing by leaps and bounds — and so has the need for office and lab space. A… Read More

Redfin CEO, DoorDash co-founder invest in new startup building portal for Mexico real estate

by Nate Bek on September 13, 2022September 13, 2022 at 12:34 pm

Seattle startup Far Homes aims to simplify transacting real estate in foreign markets. The company says it looks to take advantage of remote workers interested in living in tropical locations.… Read More

Amazon will pause Bellevue towers to study impact of hybrid work on its offices, still plans 25k jobs

by Todd Bishop on July 14, 2022October 5, 2023 at 12:11 pm

Citing ongoing uncertainty about the impact of hybrid work on its office designs, Amazon says it will pause construction on five towers in downtown Bellevue, Wash., and hold off, for… Read More

No going back: Anticipated return to office ‘has failed to materialize’ in Seattle, report says

by Nate Bek on July 9, 2022July 9, 2022 at 12:25 pm

Offices in Seattle will remain partly empty until 2024.  At least, that’s what commercial real estate company Broderick Group predicts in a market report for the second quarter of 2022,… Read More

Rental property investment startup Arrived Homes raises $25M to fund further expansion

by Kurt Schlosser on May 17, 2022May 17, 2022 at 9:34 am

Arrived Homes, the Seattle startup that helps people invest in single-family rental properties, has raised $25 million in new funding to continue its expansion into new markets. The cash will… Read More

As Sounders FC plant flag at Longacres, real estate developer sees big opportunity to attract tech companies to historic site south of Seattle

by John Cook on February 16, 2022February 16, 2022 at 4:26 pm

RENTON, Wash. — Longacres, the storied property that once boasted a famous horse racing track and the former headquarters of Boeing’s Commercial Airplanes group, now is home to the Seattle… Read More

Real estate startup Showdigs raises $7.4M as it looks to grow team and expand across U.S.

by Kurt Schlosser on February 15, 2022February 15, 2022 at 3:02 pm

Showdigs, a Seattle real estate technology startup, has raised $7.4 million in new funding. Founded in 2018, the company makes it easier for property managers to schedule and show rental… Read More

Will hybrid and remote work tank Seattle’s once red-hot office market? Not so fast, studies say

by John Cook on January 26, 2022January 26, 2022 at 1:50 pm

Fewer people working in the office, less need for office space? That seems like a logical conclusion to draw. But a recent survey of 446 U.S. businesses by the Harvard… Read More

The risk-taking mentality of Zillow’s Rich Barton: ‘It takes just as much energy to swing for the fences as it does to bunt’

by John Cook on November 4, 2021November 4, 2021 at 1:38 pm

Editor’s note: This is a column written by GeekWire co-founder John Cook. “Why bunt?” That was the rhetorical question Zillow Group CEO and co-founder Rich Barton asked a packed crowd… Read More

Porch Group makes unusual promise in latest acquisition — guaranteeing its stock will double

by Todd Bishop on October 28, 2021October 28, 2021 at 12:48 pm

Big deals have become almost run-of-the-mill for Seattle-based home services tech company Porch Group, which has been acquiring an array of companies in areas such as home inspections, moving, real… Read More

Ex-Zillow CEO Spencer Rascoff on the need for new social media, iBuying, remote work, and more

by Kurt Schlosser on October 4, 2021October 6, 2021 at 4:03 pm

On a day when the biggest social media company on the planet went offline for several hours, Spencer Rascoff talked about why he’s been building a small social newcomer around… Read More

Podcast

The new realities of real estate: Redfin CEO on tech, climate, housing, and the era of ‘a thousand HQs’

by Todd Bishop on August 7, 2021August 7, 2021 at 9:16 am

Redfin CEO Glenn Kelman joins us on this episode of the GeekWire Podcast to discuss the latest twists in the housing market; delays in returning to the office; the role… Read More

Redfin revenue soars 121% in second quarter as net loss grows on RentPath acquisition

by John Cook on August 5, 2021August 5, 2021 at 2:11 pm

Seattle real estate brokerage Redfin on Thursday posted second quarter revenue of $471 million, a jump of 121 percent over the same period last year. The surge in revenues also… Read More

Video

Topgolf is officially bringing one of its high-tech sports and entertainment venues to Seattle area

by Kurt Schlosser on August 2, 2021August 2, 2021 at 8:52 pm

Sports and entertainment company Topgolf is officially bringing a full-scale, high-tech golf and gaming complex to the Seattle area, with plans to break ground on Tuesday in Renton, Wash., at… Read More

Opportunity zones are the tax shield tech wanted — but is it living up to expectations?

by Monica Nickelsburg on June 3, 2021June 4, 2021 at 3:05 pm

It’s been more than three years since a concept to encourage high-net worth Americans to invest in economically distressed areas was introduced and later passed with bipartisan support as part… Read More

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