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.
FutureCast Forum Members Array Top Ten Reasons Why Seattle is So Popular
Ni Hao, Seattle! We’re number one in the eyes of mainland Chinese homebuyers exploring overseas investment in real estate. That’s according to Juwai.com, a popular home search site within China, and this finding is tracking with other data points according to local brokers that specialize in international homebuyers.
Market Experts Array Pent Up Demand for In-City Homeownership; Downtown Seattle Condo Prices Surge 33%
Representatives of Realogics Sotheby’s International Realty and Burrard Group announced a major milestone in the development of the 41-story NEXUS Condominium Tower today as it begins a vertical ascent towards completion in fall 2019. With excavation now complete, SKANSKA, the general contractor for NEXUS, has poured the foundation mat, which comprised of 3,900 cubic yards of concrete and measures up to twelve feet thick.
Local Leaders in Global Real Estate Position for Further Growth; Expand Operations with Downtown Seattle Annex
Representatives of Realogics Sotheby’s International Realty (RSIR) announced today the appointment of Stacia Smith to Director of Sales / Seattle Branch Manager overseeing approximately 85 licensed brokers in Seattle with plans to double in size by 2020.
“We are elated to welcome Stacia to help lead the next generation of real estate professionals in our Seattle-area offices,” said Dean Jones, President and CEO of RSIR. “Our brokers will greatly benefit from her nearly 30-years of experience in all facets of real estate while programming a caring and collaborative corporate culture within our fast-growing firm.”
Market Experts and Brokers Discuss Urbanization Trends and the Condominium Conundrum
Things are looking up, Seattle! That’s the clear consensus of market pundits tracking the extraordinary growth of jobs, population and development into 2020 and beyond. Nowhere is this growth more evident than in downtown Seattle. These were just a few of many findings during the October 23rd meeting of the FutureCast Forum held at the NEXUS Sales Center – a new, 41-story condominium tower that is rising in the northeast corner of city. Members of the FutureCast Forum include industry leaders in design and development, real estate appraisals and economics, wealth management and investment, mortgage lending, retail and lifestyle trends. Each contributor offers a unique perspective on how our city is growing into the next decade and rapid urbanization is the common thread.
A recent Zillow study reveals that millennials are indeed looking to purchase homes.
The Seattle market has made countless headlines recently for seemingly endless home price growth, and in expensive markets such as ours, there’s often a misconception that millennials are giving up on homeownership altogether. In a recent feature covering the 2017 Zillow Group Report on Consumer Housing Trends, Puget Sound Business Journal (PSBJ) debunks the millennial myth, as the survey, which polled a representative group of over 13,000, reveals that “42 percent of all buyers are looking to purchase their first home.”
Over 50 Realogics Sotheby’s International Realty (RSIR) brokers and clients gathered on Monday afternoon for a FutureCast Forum VIP Broker Recap Event, which was held at the NEXUS Sales Center by invitation-only.
As part of their revolving monthly forum, founding members Brian O’Connor (O’Connor Consulting Group), Brian Evans (Madrona Financial Services), and Dean Jones (RSIR) kicked off their inaugural broker panel discussion with a focus on the downtown Seattle housing market, with an emphasis on the effects of job growth, empty nesters downsizing, and the additional draws of downtown living. The conversation was particularly relevant, as the event was hosted in the Sales Center for NEXUS, the only condominium project expected to deliver with occupancy in 2019.
According to a recent Geekwire feature, Baidu, the top search engine in the Chinese language, has opened an office the Seattle area as an effort to expand its reach in Artificial Intelligence and Cloud Computing. Situated in downtown Bellevue, the new office reportedly has space to accommodate upwards of 40 engineers within one year, depending on the rate at which they are able to bring top industry workers to the company. The move comes as Baidu continues to expand beyond the bounds of search, “in areas ranging from financial services to artificial intelligence – seeking breakthroughs in computer vision, speech recognition, deep learning and natural language understanding.”
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.
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.