The King of Social Networking, Facebook, heads to Central Oregon

In 2008, a client brought us 124 acres of dry sagebrush and juniper outside of  Prineville, Oregon. Even at that time, the effects of what would be the current recession were  being felt.  Prices were plummeting, buyers were evaporating, and companies were beginning to announce lay-offs and closures. In particular, land prices were proving to be extremely susceptible to the snowballing decline. Kerry O’Neal, principal broker of Strategic Realty,  studied the situation, stomped around the sagebrush, and informed the seller that we would do whatever it took to find a buyer for his property.

Fast-forward to the present, and you can now see the results of those efforts. Facebook, the largest social networking site in the world,  is building its first data center ever outside of Prineville, Oregon, on that same 124 acres of sagebrush.  This data center will house the webpages where people reconnect friends, colleagues, and family.  Strategic Realty is proud to have played our role in moving this giant to the region.

Data centers are state-of-the-art, climate controlled facilities which house the thousands of computers needed to run international websites like Facebook.  They can require immense amounts of electricity, communications connectivity, and water. The availability of these resources determine the most economical location for investment.

The impact on the local economy will be significant.   Facebook is constructing a $188.2 million dollar, 117,000 square foot asset in the community, and, in the process, are employing over 200 construction workers for the next one to three years.  When finished the facility will provide over 35 high-salary jobs for people living in Central Oregon.

Click here to see what else we’re working on…

Freddie covering its Fanny: Real Estate Agents Beware

During an ongoing battle with B of A over a short sale, I got a call from a gentleman interested in homes  in NW Bend.  I pulled the search and noticed one of my listings…listed with another broker!  After staring at the pictures for a few minutes, I called the other real estate agent.  After a very short conversation, she told me that she had a listing agreement with Freddie Mac, the locks had been changed, and I needed to just move on.  I kindly explained the home had not been sold or given back to Freddie and I personally verified the information with both B of A (they were actually right for once) and the trustee who did NOT sell the asset.  I then called the agent again and asked if she could fax or email me a deed, document, anything showing title to the home had been transferred.  The email response I received was something to the effect of “Go fly a kite. I know all you want is a commission check, but accept defeat, sorry about your luck, and don’t call me again.” Freddie Mac was wrong and I knew it. No offers in, no foul.  2 offers on her listing and 1 on mine… hot subject with major ramifications.  I ran my phone dead calling Freddie Mac, B of A, ReconTrust, and my seller.  After 2 weeks, the local mls kindly suggested I remove the listing from the mls or…not fun.  1 week later, I received an email from Freddie Mac.  Guess what? They were wrong, the other agent didn’t have the right to sell the property.  If there was any point in my life when I wanted to be a fly on the wall, this was it.  Oh how I wanted to hear the conversations the other agent had with the buyers and their agents about not being able to sell the property.  I am sure it was as entertaining as it sounds.  Moral: Don’t list properties you don’t have the right to sell and if you do, at least have the professional courtesy to help get to the bottom of the issue.  Because even trusty old Freddie Mac has to cover its fanny like everyone else.