Downtown Condo Tower Sellout - the First of Its Kind Since 2007

Need for More Accelerated Sales at Projects Prompts New 'Bulk Buy' Solution
for Savvy Buyers

SEATTLE, Aug. 28 /PRNewswire/ -- Representatives at Realogics, Inc. confirm a
mutually accepted purchase contract on the last available home at The Parc, a
185-unit condominium in downtown Seattle's popular Belltown neighborhood.
When closed, this sale will represent the first time a new construction
condominium community has been completely sold out in downtown Seattle since
2007. The last successful project sellout was the 2200 development in South
Lake Union, which was also marketed by Realogics. The Parc began occupancy in
late 2008.

"The sellout of any tower is always a milestone but it's far more significant
today because it means that we're finally digesting the standing inventory,"
says Sam Cunningham, Managing Broker for Realogics Brokerage, LLC. who is the
listing broker at The Parc. "We're especially proud to have sold out using
traditional sales and marketing efforts - it's a win-win for buyer and seller
in what has been a challenging marketplace for many, but not all projects
downtown."

Cunningham credits his seller, Western & Clay, LLC (a development entity
managed by Intracorp Real Estate), for responding to market pressures and
meeting buyer expectations with sharper pricing, financing incentives and
other buyer perks. He acknowledged that demand is never evenly distributed
about town because product offerings vary significantly throughout the city
and buyer preferences focus on select developments that are better positioned.

Several other new construction condo developments in downtown Seattle are near
sellout but they still have unsold inventory to absorb. Some developers are
holding real estate auctions to close out remaining inventory or to engineer
sufficient sales (51%) to comply with strict mortgage guidelines and/or pay
down the construction debt.

Still, no new supply of inventory has been added to the market since the rise
of the credit crunch in 2007. As for demand, Realogics' research suggests
that hundreds of buyers may be sitting on the fence in an attempt to time the
market. Some are waiting for further price drops and others want to see more
sales in a project before they buy in.

"We know that many buyers are eyeing their options from the sidelines - we
want to build their confidence and make deals with new construction
inventory," says Dean Jones, President and CEO of Realogics. "Our goal is to
assemble buyers together and bring offers to projects in bulk. The concept is
simple - the more we sell, the more they save."

The firms latest venture; known as "Condo Bulk Buy" aggregates buyers and
negotiates with developers for a volume discount - provided they close as a
group. Like a real estate auction, the potential to sell a significant block
of units at one time provides efficiencies to the seller so consumers can
drive a better deal than when buying alone. However, unlike real estate
auctions the bulk buy process is completely controlled by the buyer and not by
the seller.

"We don't need to wait for sellers to find the market because we'll bring the
deal to them," says Cunningham. "We know where the opportunities are and work
directly with buyers or with the buyer's agent at no cost to the buyer."

Realogics' agents are currently accepting registrations of interest at
www.CondoBulkBuy.com to start the process.

About Realogics, Inc.
Realogics, Inc. is a Seattle-based real estate consultancy and the managing
member of Realogics Brokerage, LLC. The group collectively specializes in
market research, product development, marketing and sales brokerage solutions
for in-city condominiums and mixed-use properties. Realogics also established
a realty division recently to represent buyers and sellers of resale
inventory.

For more information, please visit www.realogics.com.

SOURCE Realogics, Inc.

Michelle Poitevin, +1-206-448-5752, for Realogics, Inc.