Be Jane acquired by… Builder Homesite [4realz Exclusive]

be janeA few days ago, Be Jane announced they were bought, but hadn’t said by whom, which led a few to speculate who the buyer might be.   I’m happy to say that has the scoop that the new buyer is Builder Homesite.

Here’s the story.

A little while ago I was introduced to Chief Jane and we had some great conversations about what online real estate companies would be a good fit for acquiring Be Jane.   We talked through all the big online search sites (and I even introduced her to a few people I knew), but I got the feeling that the “right” home for Be Jane wasn’t with any of my contacts.

Fast forward a few months…

bhi_2007_logoBuilder Homesite is on a rampage. Last week,  they announced that they are running Move’s New Home channels:

“Through this new strategic partnership [with Move, Inc], Builders Digital Experience (BDX) will operate the New Homes Channel and, the country’s two most visited new homes websites”

And then this week, I’m told that they bought Be Jane.

The idea behind buying Be Jane has to be that Builder Homesite is looking to quickly build out a portal geared toward woman… and why not.  Be Jane has a library of DIY articles and videos as well as a large female community interested in the topic.

In terms of Builder Homesite, I know almost nothing about the company except what I’ve read over the past week or so and what little I can gleam from their website.  Nonetheless, their flurry of recent activity tells me they’ll likely be a great partner with Move, where the discussion of acquisitions, partnerships, lawsuits, etc. was so common it felt like background noise after a while.

With these additional resources (Move’s New Home connections and Be Jane’s content/community), Builder Homesite is a really interesting player to watch in the home building space and potentially a great home for the Be Jane team.

Phil is right that dumping 11,000 homes…

…previously valued at $1.3B for $525M is a huge deal for people who bought “Lennar” homes recently:

“For example, what happens to homeowners in a Lennar subdivision when their builder suddenly bails out at 40% of what they just paid for their identical home?

“Think of it this way: if you paid $250,000 for your Lennar home, it instantly become worth $150,000.”

I remember earlier this summer hearing an economist with CAR talk about how areas with lots of new home construction were inevitably being hit the hardest because new home builders were much quicker than home owners to reduce price based on market conditions.

Interestingly, it sounds like there could be more of these big deals in the near future:

“But the deal also suggests that bargain hunters on Wall Street might be willing to step in and try to grab some prime properties at a fraction of their previous value. “