BELLEVUE, WA—Executives of Realogics Sotheby’s International Realty recently revealed that Tammy Gwinn and Lindsey Bundy of Gwinn / Bundy Group were both appointed to Senior Global Real Estate Advisors at the new Bellevue branch office. RSIR, a leading project marketing specialist currently representing and advising on more than $1.5 billion in new condominium developments planned throughout the Puget Sound region, is bringing on this team “as a great move on many fronts,” according to the firm.

“We are elated to be working alongside the Gwinn / Bundy Group,” said Stacy Jones, Vice President & Chief People Officer of RSIR. “I’ve admired their growth and success for years, and now we’ve officially aligned our brands to further our collective market share on Mercer Island and well beyond.”

Like Jones, Gwinn has been a longtime resident on Mercer Island, and each remains active members of the community. The Mercer Island submarket has been highly popular for in-bound executives given its renowned school district, an abundance of waterfront properties, and proximity to job centers on both sides of Lake Washington. The LINK Light Rail station on Mercer Island will further add desirability and convenience by 2023 when residents will connect to the $54 billion Sound Transit 3 regional expansion.

“We know the marketing prowess and global reach of Realogics Sotheby’s International Realty – the corporate resources are truly matchless in the industry,” said Bundy. “We will better serve our clients, expand our service area across the region, and engage referrals throughout the US and internationally.”

Gwinn / Bundy Group has timed its move to address the anticipated demand for relocation services amidst the substantial growth of local companies, including Amazon, Google, Microsoft, and T-Mobile, which recently merged with Sprint. The strength of tech employment in the region, coupled with redevelopment opportunities for aging properties on Mercer Island and new multi-family projects, have both RSIR and Gwinn / Bundy Group well-aligned in their vision forward. RSIR is currently advising on several for-sale condominium projects in the pipeline.

“We see an understated but exciting evolution in our town center on Mercer Island. Downsize empty-nesters and retirees looking to divest from larger single-family homes and acquire a right size lifestyle with equity to explore a second home elsewhere and travel with a lock-and-leave lifestyle,” said Bundy. “At the same time, we have demand with first-time buyers and young families that seek Mercer Island’s amenities and school district but may not be able to afford the cost a single-family residence.”

With a business driven primarily by referrals, Gwinn / Bundy Group serves clients in Mercer Island and across Seattle and the Eastside. In addition to serving their local market, the Gwinn / Bundy Team networks with more than 22,700 agents representing nearly 46,000 exclusive listings in 1,000 real estate offices across 70 countries and territories around the world. In 2019, the Sotheby’s International Realty network reported a record $114 billion in global sales volume, $102 billion of which was achieved within the US.

“We have no doubt that the Gwinn / Bundy Group will take full advantage of our many exclusive marketing platforms and robust referral network,” adds Jones. “We will partner with them to broaden their service area, whether that next home is around the corner or around the globe.”

GlobeSt.com also learned more about the current state of the luxury market from Ed Kaminsky, a licensed real estate agent at Strand Hill. According to Kaminsky, the volume of sales are down, but an even pace on new inventory and new sales are constant. Kaminsky said that he was recently on a call with agents from Oklahoma and Florida who said that the lighter shelter in place orders created an instant jump in sales. “It gives us an idea of what’s to come for those markets still on full lock down.”

When asked if we are headed towards a real estate crash, he said it is important to remember that the cause of the last real estate crash was a complete lack of equity in homes. “It was easy for homeowners to walk away from homes or sell them cheap because the bank took the hit, not the homeowner.”

Today, he says, anyone who decides to sell would be losing their own money, not the bank’s. “Banks have required 20% down in most cases in our market and we’ve also had a high percentage of all-cash transactions over the past 10 years. Today’s homeowners have personal equity in their homes which they aren’t going to walk away from. It is highly unlikely that we will see the devastation of real estate values that we saw in 2008-2011.”