As a recent Realogics Sotheby’s International Realty feature entitled “Seattle’s New Era of Condos” proclaims, the Emerald City is definitively in the midst of a condo comeback; the population is growing, residents are fueling additional in-city attractions, and millennials are transitioning from renting to homeownership. Today, thousands are reading the latest Seattle trends, as the special feature, which was originally included in Portrait of Seattle Magazine, was hand delivered to 1,500 broker mailboxes throughout the Seattle area, and was included in select copies of Puget Sound Business Journal, Wall Street Journal, Madison Park Times, Capitol Hill Times, Queen Anne & Magnolia Times, Magnolia News, City Living Seattle, The Monroe Monitor, Valley News, Eatonville Dispatch and Marketplace.
Wall Street Journal
A recent edition of the Wall Street Journal covered a growing prevalence for homes in hot markets to sell for $500,000 or more above the list price, leveraging Realogics Sotheby’s International Realty broker Tobias Lumpkin for insight on the Seattle market. As outlined in the article, the housing market continues to experience gains around the nation, and fierce competition led to nearly a quarter of the homes sold in the U.S. in 2017 closing above their original asking price. Though most homes average $7,000 above list, some hot markets are seeing escalations of a half a million dollars or more.
A recent Property Report in Wall Street Journal explores the impact that China government-issued capital controls are having on Chinese investors, using insight from Realogics Sotheby’s International Realty broker and Asia Services Group member Dehlan Gwo for his expert insight. As the article reads, “individuals have long faced curbs on overseas investments, but have figured out ways around such limits.” Will the same be said for buyers facing the latest round of controls?
In a recent Mansion Global feature, Liz Lucking shines the spotlight on The Iconic Medina Waterfront Estate, a legacy property that is offered for sale for the first time in fifty years. As Lucking writes, the home quickly “skyrocketed to the top of the area’s real estate market” given its ample lot with 150 feet of coveted Lake Washington waterfront and Mount Rainier views.
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.
VIP Guests, Brokers and Musicians “Playing Music in the Sun”; Tour Rock Legend’s Estate
On July 6th, scores of guests attended a first-of-its-kind rendezvous at the home of Rock & Roll Hall of Fame Steve Miller, of the Steve Miller Band. Mary Norris, a Senior Global Real Estate Advisor with Realogics Sotheby’s International Realty (RSIR) hatched the plan to showcase this unique compound on its namesake in Friday Harbor on San Juan Island, which invited local and Seattle-area brokers as well as VIP guests.
The Wall Street Journal recently announced that beloved stand-up comedian, television show host, bestselling author, and Emmy Award winner Ellen DeGeneres and her wife, Australian–American actress Portia de Rossi, have listed their storied Santa Barbara, California estate for $45 million USD.
“The house is always surprising. It reveals itself to you in new ways every day. It’s not overly manicured or tidy. It’s not overly precious or perfect. And it’s a home that manages to be both spacious and cozy at once.”
– Ellen DeGeneres
Members of RSIR’s Asia Services Group Tapped to Confirm Trend
On February 7th, reporters Laura Kusisto and Kim Mackreal of the Wall Street Journal consulted executives and members of the Asia Services Group of Realogics Sotheby’s International Realty to conclude that the imposition of a 15-percent foreign buyer tax in Vancouver, BC has indeed shifted demand from mainland Chinese investors to Seattle. The rising trend was first noted by RSIR moments after the BC Premier Christy Clark announced the tax, effective August 2, 2016. Just a day later, RSIR predicted the diversion of foreign investment towards Seattle in a blog post and further opined on the topic in a featured article entitled “Seattle: Is it Vancouver Deja-Vu”, which was translated to Mandarin for the Seattle Luxury Living magazine, which was reprinted in September. The news triggered a series of high-profile articles by Bloomberg, The Vancouver Province and Seattle Times, to name a few. Each outlet cited contributions by RSIR, further validating that this trend was, in fact, firmly in place. Even mainland Chinese TV media visited Seattle, including CCTV, which surely highlighted the opportunity within China. By the end of 2016, RSIR was already reporting a “gold rush” of Chinese buyers responsible for many of the firm’s top sales, including several new benchmark prices paid in Eastside neighborhoods.
Sotheby’s International Realty Affiliates LLC today reported that in 2015 its affiliated brokers and sales professionals achieved approximately $80 billion in U.S. home sales volume (transaction sides multiplied by average sale price). Driven largely by a brand record of over 100,000 total transaction sides, this is the highest annual sales volume performance in the history of the brand and marks a 13% increase from the prior year.
Executives of Realogics Sotheby’s International Realty (RSIR) are pleased to announce a new exclusive preferred media partnership with Bloomberg Markets for 2016. The two page insert will be included within the ultra-high income hedge fund circulation and will reach discerning readers within the wealth management and financial industries.