Dozens of Prospective Buyers Formed a Line Prior to Opening of NEXUS Sales Center; Some Camped Out Overnight
Representatives of Burrard Group and Realogics Sotheby’s International Realty (RSIR) confirmed today that they have sold all 28 City Suites released at NEXUS Condominiums during the Encore Sales Event held on November 18th. Prospective buyers began forming a line at the NEXUS Sales Center at 4:30pm on Friday, November 18th – more than 18 hours prior to the doors opening at 11am the next morning. Initially, Burrard Group said it would offer 16 newly released homes located on floors 28 through 35, however prospective buyers that were patiently waiting in line learned of a special surprise release – an additional 12 City Suites on floors 3 through 6 were also made available. Overall, the 28 homes ranged in price from $340,950 to $667,950 and comprised of a mix of studios and urban one-bedroom floor plans varied from 354 sq. ft. to 498 sq. ft. The new offering was a result of disassembling a larger floor on the higher floors and making available studio units located in the above grade parking structure of the building, which will be accessed across the drive isle. Optional parking was sold for $75,000.
In a recent Curbed Seattle feature, Sarah Anne Lloyd stepped back in time and into an historic home once owned by John Wallingford and currently listed with Realogics Sotheby’s International Realty (RSIR) broker Eleanor Heyrich. As the article describes, the Wallingford neighborhood is “home to many adorable, century-old craftsmans,” and this one stands out for its historic heritage. Built in 1907, Lloyd gushes over period details, from “a dormer and diamond-shaped window” to a “covered porch . . . bounded by square columns.”
The autumnal season is in full swing, from the chill in the air and the vibrant changing leaves to our crisp Washington apples and the warmth of a pumpkin spice latte. In celebration of the season dedicated to the harvest, Realogics Sotheby’s International Realty has curated a collection of homes you will surely “fall” for.
Realogics Sotheby’s International Realty (RSIR) presents a look at the housing market trends for the third quarter of 2017, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
Representatives of Realogics Sotheby’s International Realty (RSIR), ReMax Northwest Realty and Attollo Development jointly announce the commencement of construction and home reservations for The Pinnacle at Alki – an eleven-unit, luxury condominium development located at 1118 Alki Avenue SW in West Seattle. Representatives confirm the boutique community, offered by The 11 @ Alki, LLC, has secured reservations on six of eleven homes and one home received a back-up reservation during a Design Preview Event held on Saturday, October 14th. Several dozen prospective buyers and brokers attended the reception to view floor plans, renderings, preliminary specifications and introductory pricing that ranged from a single one-bedroom plan of 885-sq. ft. and offered from below $800,000 to three-bedroom plans (1,723-sq. ft. to 2,043-sq. ft.) ranging in price from $1,500,000 to more than $2,350,000. Five homes remain for reservation, with presales commencing in November 2017. An Encore Preview Event is scheduled for October 21st (1-4pm) at 2715 1st Avenue in downtown Seattle.
The Pinnacle at Alki Announces Priority Presales Event on October 14th
The meteoric rise in local property prices and the stresses associated with buying in today’s real estate market have been well articulated by the Seattle Times, which followed a home in West Seattle through listing to close, and proclaimed that millennials and some first-time buyers are “coming to grips with the reality that they simply can’t save up quickly enough to match the rise in home costs.” Though the market conditions may seem daunting to potential buyers, brokers say unit reservations and presales offer a much needed relief for those that can plan ahead.
Marc Stiles of Puget Sound Business Journal reached out to Dean Jones, president and chief executive officer of Realogics Sotheby’s International Realty, recently for his insight on the markets in Vancouver, BC and Seattle, and the influence of the foreign buyer tax on the former’s overseas buyers. “Brokers at Realogics Sotheby’s International Realty in Seattle are seeing more inquiries from Asia, but the number of transactions are either holding steady or dropping some,” Stiles writes.
This year, Mainland Chinese citizens and residents have been enjoying a double holiday: the Moon Festival was immediately followed by China’s National Day holiday this year, making it an eight-day Golden Week for this fall. The last incidence of an eight-day Golden Week was in 2009; the next will be in 2020.
According to NWMLS data for September, downtown Seattle values are skyrocketing as the median home price for in-city resale condominiums increased a staggering 35-percent year-over-year. The sharp increase in value is indicative of Seattle’s continued struggle with population growth, rising real estate prices for both renters and buyers, and a supply and demand imbalance with little relief in sight.
Thousands of affiliates from the Sotheby’s International Realty network ascended upon Las Vegas September 25th to 27th for the brand’s Global Networking Event, which brings brokers, owners, managers and sales associates together for exclusive networking and learning opportunities with keynote speeches, breakout panels and cocktail receptions. The event, which was held at the Wynn Las Vegas, was attended by a staggering 2,400 members of the Sotheby’s International Realty network, with more than 155 of the brand’s companies represented from 34 countries and territories worldwide.