Columbia Banking CEO Sells Auburn Residence
Clint Stein sold his 4,420-square-foot Auburn home as the bank moves staff to Arizona.
Updated on Oct. 22, 2026 in Residential
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Columbia Banking System CEO Clint Stein has sold his Auburn home at 412 Hi Crest Drive for $2.45 million. The sale coincides with the company's broader transition to relocate dozens of employees to a new corporate office near Scottsdale.
Why it matters
The relocation efforts follow reports that Washington state tax increases are projected to cost the bank approximately $8 million annually. This shift highlights the financial pressures prompting local corporate leaders and their operations to seek regions with different tax climates.
The 4,420-square-foot home sold for $592 per square foot, significantly higher than its $1.9 million taxable value. Cartus Financial acquired the property from the Steins before reselling it for $2.1 million.
The players
Clint Stein
He serves as the CEO of the Columbia Banking System.
Columbia Banking System
The company is a financial institution based in Tacoma that is currently shifting operations to Arizona.
Cartus Financial
This is a relocation services company that managed the transition of the property.
Gateway Real Estate
The firm acted as the representative for both the buyers and sellers in the residential deal.
The details
Gateway Real Estate facilitated the transaction involving the relocation company Cartus Financial. While Clint and Julie Stein purchased the home in early 2023 for $2.4 million, the property was listed for sale in May 2026 before closing in October.
Timeline
March 2023: Clint and Julie Stein purchased the Auburn home.
May 2026: The home was listed for sale with an asking price of $2.5 million.
October 2026: The sale of the home was finalized.
Culture Shift
This move mirrors the broader trend of corporate relocation driven by regional tax disparities and the push for more favorable business operating costs. As firms move headquarters and satellite offices, housing markets in the departing and destination regions often experience shifts in executive inventory.
The departure of major regional executives can influence high-end home inventory levels and local tax revenue expectations. Residents should monitor how such executive relocations might impact local property values and the overall demand for luxury real estate in the city.
The takeaway
Large-scale corporate relocations often trigger ripple effects that reach executive personal finances and local real estate inventory. Tracking how regional tax policy influences corporate movement provides insight into both business shifts and the changing residential landscape.
Further reading
For more on the local market, visit Auburn Residential.
Source note: This article includes information reported by The Real Deal New York.
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