On February 5th a delegation of more than two dozen prospective investors from Vancouver, BC joined members of Visas Consulting Group and Realogics Sotheby’s International Realty for a whirlwind, one-day tour of condominiums, investment properties and schools in Seattle and Bellevue.
This event marks a third in an ongoing series of international marketing events promoting Seattle real estate. This includes the Tale of Two Cities event in Vancouver on and the Dragon and The Pearls event in Shanghai on November 5th, 2013.
Representatives of Insignia Condominiums captivated the audience (Mandarin translation by Mina Zhang) with an overview of the development and history of Nat Bosa. Sales Manager Brett Schaffter stated that Insignia will represent more than 10,000 condominiums developed over the past 40 years by this iconic developer. Mr. Bosa has been noted as the “early bird” to each housing cycle in Vancouver, San Diego, San Francisco and now Seattle. Mr. Schaffter proclaimed that he has purchased homes in many of Bosa Development’s properties and benefited from his “first buyer’s” status realizing preferred selection
and pricing. He reported that more than 75 presales have been accepted with select homes ranging from the low $400,000s to more than $1.5 million in the south tower with delivery scheduled for summer of 2015. The north tower should deliver homes approximately a year later in fall 2016.
Dean Jones, Principal of Realogics Sotheby’s International Realty was introduced and briefly shared his view of the opportunity to buy condominiums during presale and consider leasing them out for several years – most likely to an abundance of demand given job growth. His view is many relocating professionals will opt to rent for a few terms before deciding to buy and receive tax benefits while securing housing costs (assuming interest rates remain attractive).
Two homes were toured at Fifteen Twenty-One Second Avenue including #1701 – a two bedroom plus den of 1,968 square feet offered at $1.7 million and #1800 – a convertible two bedroom of 1,824 square feet, which is currently pending.
Just around the corner the delegation was greeted at Four Seasons Private Residences by Moira Holley and Scott Wasner of Realogics Sotheby’s International Realty to provide a personal tour of two residences for sale and the bounty of amenities that are synonymous with this luxury hotel and condominium.
Two select homes were toured including a two bedroom, two bathroom condominium estate priced at $3.4 million for 2,082 square feet featuring broad views of Elliott Bay and Pike Place Market. The other home is a Terry Hunziker-designed two bedroom priced at $2.5 million for 2,168 square feet featuring a generously-scaled view terrace. Incidentally, Wasner holds the record for the highest-priced condominium sale per square foot in Seattle since in the past five years – a one bedroom, one and half bathroom that closed at $2.1 million or $1,617 per square foot.
Following the tour of in-city condominiums the delegation commuted to the Eastside to learn about the renowned schools and other real estate opportunities.
