Sawbuck Expands to Phoenix

WASHINGTON, July 9 /PRNewswire/ -- Online real estate broker Sawbuck Realty (www.sawbuck.com) today expanded into the Phoenix metropolitan area and partnered with Arizona residential real estate company Russ Lyon Sotheby's International Realty, bringing Sawbuck customers local expertise and unmatched customer service. Phoenix-area homebuyers now can use Sawbuck.com to search for homes for sale and research recent sales; and the company's mobile site (m.sawbuck.com) from any web-enabled smartphone when on the go.

"Sawbuck delivers exactly what Phoenix real estate consumers need. Today's consumer starts their real estate search online, but the nuts and bolts of the transaction still must be done offline," said John Vatistas, co-owner of Russ Lyon Sotheby's International Realty. "Sawbuck recognizes this reality by giving consumers unfettered access to housing data on their website, and then connecting them with our leading, full-service agents when they are ready to start touring homes."

Sawbuck simplifies the home buying and selling process, without asking customers to compromise on either service or cost. Consumers start their home search on Sawbuck.com, where they can search by property type, neighborhood or address to find homes for sale, local market stats and recently sold properties. In Phoenix, a Sawbuck advisor then connects buyers with experienced, local real estate agents at Russ Lyon Sotheby's, and streamlines their transactions.

"We've been told we are crazy to continue to expand in this volatile real estate market. However, like any industry, the successful companies have the infrastructure in place to deliver in the interim and when demand heats up. With Russ Lyon Sotheby's we are confident we have the best partner for now and in the future," said Sawbuck CEO Guy Wolcott.

Also today, Sawbuck launched a new version of its home page that highlights daily real estate changes for each metro area it covers, including:

• What Can You Buy for the Money: View a slide show of 15 similarly priced homes from around the city, with a different price point every day. Consumers easily can switch between cities to see what they can get for their money across the country.
• Top Five Lists: Check out a different list every day such as top five local markets with the lowest inventory, highest prices or fewest days on market.
• Most Popular Listings: Be in the know and find out which homes get the most daily views.

How Sawbuck Works

Sawbuck connects buyers and sellers with top local real estate agents, streamlines their transactions, and saves them thousands of dollars up front and hundreds more every year. Buyers who work with Sawbuck get a below-market mortgage from reputable lenders such as Bank of America.

Sawbuck is the first real estate broker to establish mortgage alliances not to profit, but to save buyers money. The company subsidizes every mortgage, driving down the interest rate, and offers a $1,000 guarantee if a customer finds a better mortgage deal.

Phoenix Buyers Save $14,870 with Sawbuck

Throughout June 2010, Sawbuck compared the 30-year fixed mortgage rate available to its customers with the national average rate as reported in Bankrate.com's weekly survey of lenders, a reliable indicator of mortgage rates for the last 20 years. The average Sawbuck rate was 0.37 percent better. On a $400,000 mortgage, that's a savings of $91 per month, or $32,843 over the life of the loan.

In June 2010, 9,063 Phoenix-area homes sold with an average sales price of $181,105. If those buyers used Sawbuck, they would have saved $41 a month, totaling $14,870 over the life of the loan.

Sawbuck sellers receive a 20 percent refund of the listing commission at closing; for a $500,000 house that would normally pay a seller's agent commission of three percent, the savings would be $3,000.

Since launching in January 2008, Sawbuck has completed more than $50 million in real estate transactions in the eight markets it serves.

About Sawbuck

Sawbuck Realty (www.sawbuck.com) is an online real estate broker that combines an industry-leading website with an award-winning, consumer-friendly business model. The company connects buyers and sellers with top local real estate agents, streamlines their transactions, and saves them money at every turn. Buyers who work with Sawbuck's agent partners get a below-market mortgage, saving thousands up front and hundreds every year. Sellers receive a 20 percent refund of the listing commission at closing. Sawbuck's site, service and model provide radical transparency and consumer value that is unique in the world of real estate. Headquartered in Washington, D.C., Sawbuck currently serves the Boston, Chicago, Dallas-Fort Worth, Phoenix, Providence, R.I., San Francisco Bay Area, Southern California and Washington, D.C. areas. The company will expand into Philadelphia and Houston in the coming months. To stay up to date on Sawbuck, visit our blog, http://www.sawbuck.com/blog, or follow us on Twitter, @sawbuck.

SOURCE Sawbuck Realty