Waiea is a masterpiece created by the world renowned architect, James K. M. Cheng in collaboration with one of America’s iconic interior designers, Tony Ingrao. In his words, James Cheng calls the penthouse “a villa in the sky.” Designed with the connoisseur of life in mind, no detail has been overlooked. This six-bedroom, six-and-one-half-bathroom residence sprawls over 8,532 square-feet and features a spectacular, over 2,000-square-foot rooftop lanai and a private, ocean-facing infinity pool.
$125,000,000 USD | Glen Cove, New York | Daniel Gale Sotheby’s International Realty
Salutation is an exquisite 46-plus-acre island on the North Shore of Long Island. The land was granted by King George I and purchased by Peter Caverly in 1721 for two hundred pounds. More than 10 adjacent acres were granted with “underwater” rights, valuable for fishing, clamming and boating. The tranquil 28-plus-acre pond, which flows into the Long Island Sound, is home to oyster beds and many varieties of wildlife. The fortified 700-foot sea wall, a 250-foot dock that accommodates yachts and seaplanes, and a helicopter landing spot complete this phenomenal property.
36 200 000 $ CAD | North Vancouver, British Columbia, Canada | Canada Sotheby’s International Realty
In total, this property comprises three separate titles, over 14 acres, a 9,000-square-foot custom-built West Coast home, another self-contained Guest House, working 12-stall paddock/barn, and Greenhouse. The main residence melds indigenous materials of stone, fir, and glass, spilling onto the maturely planted grounds of both native and specimen plantings, with natural and man-made water features. The homes are mechanically superior and the seamless marriage of West Coast architecture and Japanese influence create the perfect backdrop for this one and only retreat. Never before offered as one, the possibilities are endless and with RS3 zoning the future potential, this really could be the last of its kind and is truly a Lower Mainland trophy.
$16,000,000 SGD | Singapore | List Sotheby’s International Realty
This minimalistic bungalow-style home in Treasure Island’s Sentosa Cove features captivating, modern amenities such as a floating staircase, infinity edge pool with indoor access, open floorplan, and incredible views. The home also features a rooftop terrace, partially covered and ideal for entertaining.
$58,500,000 USD | Snowmass, Colorado | Aspen Snowmass Sotheby’s International Realty
Taking its name from surrounding Snowmass Mountain, Capitol Peak, Mount Daly and Mount Sopris, Four Peaks Ranch is the consummate mountain sanctuary. Once inside the gate, a world of unique splendor and beauty awaits. An outdoor paradise spreads out amongst the 876 pristine and unspoiled acres with 15 miles of alluring private trails for hiking, biking, horseback riding, four-wheeling, snowmobiling, paintball, and cross-country skiing. Moreover, a stocked pond and private beach with cabana, abundant wildlife for an exceptional private hunting experience, a chipping and putting green, and even a private labyrinth make these outdoor activities unrivaled for a personal residence of this stature.
129,000,000 د.إ AED | Dubai, United Arab Emirates | Gulf Sotheby’s International Realty
With an expansive 26,000-square-foot built-up area, this Emirates Hills villa exhibits the finest in architectural design and materials used to create a serene family home. From the moment you enter this full golf course-facing home, you feel a sense of tranquility. The oversized picture windows that are inserted into the structure, allows every room to enjoy fabulous views.
Original source on RSIR
Seattle has made seemingly endless headlines in recent months for its impressive housing market, and it seems no end is in sight as Seattle Times reports that the Emerald City has now maintained its position as the hottest market in the nation for 12 consecutive months. On top of boasting the largest home price gains of any other city, the Puget Sound also made headlinesfor 2018, as the annual “Emerging Trends in Real Estate” study ranked the city number one on its list, up from a fourth position in 2017.
Looking at data from August 2017, Mike Rosenberg says Seattle’s 12-month reign is “the fifth-longest streak in the country since 2000, and the longest since Phoenix led the nation in home value increases for 13 months in a row from 2012 to 2013.” In looking to the rest of the nation, “home costs here [in Seattle] are growing at more than double the national rate of 6.1 percent.” What’s more, the second-place market, Las Vegas, saw an 8.6 percent growth, “nearly five percentage points less than Seattle.” In looking to Seattle’s West Coast peer markets such as San Francisco, the growth is almost astronomical, as home values are now growing twice as fast as those in the Bay Area, according to a recent Puget Sound Business Journal article.
Rosenberg attributes the region’s growth to high paying tech jobs, competition amidst anemic inventory, the impact of foreign investment, and soaring rents, sentiments which echo the findings of the recently released “Emerging Trends in Real Estate” report and those previously noted by Realogics Sotheby’s International Realty and experts of The FutureCast Forum.
Regarded as “an important measure of economic conditions,” Seattle Times reporter Jon Talton shared key findings from the report, which include a positive housing outlook, strong population growth and a well-diversified economy. He adds that “we benefit from having twice the U.S. average – 12 percent – working on STEM occupations.” Looking to the future, he says “overall costs, housing affordability and availability of construction labor” will be important considerations, in addition to “infrastructure improvements.”
Want to know more about the latest housing market trends in the greater Seattle region? Read Realogics Sotheby’s International Realty’s latest insights on the S&P Case-Shiller report, dive into the third quarter market reports, or explore The FutureCast Forum, a collaborative of opinion leaders that explores the current and projected market fundamentals and trends influencing the Seattle/Bellevue metro area by 2020 and beyond.
Original source on RSIR
Following a recent report by Forbes and Bert Sperling which ranked the “coolness” of the 100 largest metro cities in the country, Seattle Magazine says that having taken the second spot, “you might even say we’re the municipal equivalent of Beyoncé, expensive denim jackets and cigarettes in the ‘70s.” As the article outlines, after looking at a number of factors including “entertainment and recreation options, the food and drink scene, transit choices, population growth and where young people are living,” Forbes crowned the Emerald City the second coolest city in the nation, behind only San Francisco.
Among the factors helping Seattle’s cool factor are “recreation and the jointly weighted coffee shops and breweries.” And as Sperling observes, “a city’s desirability (or coolness, if you will) drives the housing demand up.” “It would be an anomaly if you found a place that was really really cool but was really really cheap,” he says.
To be sure, Seattle’s housing market is on fire, as the latest CoreLogic Case Shiller index reveals that over the past 12 months, home prices in Seattle have increased 13.2 percent, far outpacing those in major U.S. cities across the country. Recent analysis by William Hillis, Research Editor with Realogics Sotheby’s International Realty, reveals that despite the run-up in Seattle home prices, the city is still more affordable relative to local incomes than any of its peer metro markets. Real estate analyst Mark Hanson observed that in Seattle, the difference between household income and income needed to buy a median-priced house is about 18 percent, where a city such as San Francisco is currently at 52 percent.
Dozens of Prospective Buyers Formed a Line Prior to Opening of NEXUS Sales Center; Some Camped Out OvernightRead More
Following the launch of an exclusive Luxury & Lifestyle Division this past spring, Sotheby’s New York will be hosting an inaugural week of sales and events to launch Life of Luxury from 30 November to 7 December. During this time, Sotheby’s will offer the very best in a variety of lifestyle categories, from Jewels, Watches and Fashion to Wine and Automobiles.Read More
As one of the leading companies in tech news, GeekWire has been tracking the number of out-of-town tech companies that have opened engineering centers in the Seattle area for the past few years, and as they recently reported, “the list has doubled in size.” The addition of Baidu’s new Bellevue office brought their list to over 100, and GeekWire admits that “despite our diligence in documenting this trend, we’ve probably missed one or two along the way.”
With engineering outposts for larger companies such as Apple, Google, Facebook and Alibaba plus local tech giants including Microsoft and Amazon, there are now a staggering “136,910 tech jobs in Seattle,” which represents “a 33 percent increase since 2011.” What’s more, is these employment opportunities are lucrative, with “an average wage of $113,906.”
According to GeekWire, these new engineering facilities are changing the Emerald City’s tech community, because they are “adding more competition for Seattle’s tech talent all the time.” In addition, the influx of new arrivals “is also diversifying the tech landscape of Seattle, creating a more vibrant tech ecosystem that goes beyond the historical roots” of locally based companies.
Given GeekWire’s latest stats, it comes as no surprise that Seattle was recently ranked the second coolest city in the U.S. by Forbes, with the strong economy and tech industry helping bolster the Emerald City’s “coolness” factor.
Original source on RSIR
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.
“The entire development and construction team is excited to shift the focus from digging down to building upward and constructing this iconic tower,” said Chad Mathis, Senior Development Manager with Burrard.
After analyzing market demand, Burrard also announced a change in the final product offering. The final construction documents include a revision to the floor plates in the “third cube” between levels 28 and 35 where a larger one bedroom and den floor plan will now be built as two independent and efficiently-scaled residences called City Suites – a 484-sq. ft. studio and a 503-sq. ft. urban one bedroom. Conversely, a penthouse home assembled two units to create a 4 bedroom plus den offering nearly 3,200-sq. ft. These revisions increased NEXUS Condominiums by 8 residences to 389 units.
“We took this opportunity to optimize the product offering based on market demands,” added Mathis, who acknowledged the flexibility to assemble and disassemble floor plans.
“This design update presents an encore sales release of new homes priced from the mid-$500,000s to mid-$600,000s, a price range that was previously sold out at NEXUS,” said Dean Jones, President and CEO of Realogics Sotheby’s International Realty. “There’s a lack of attainably priced homes in downtown Seattle. Consumers can afford to live in less space but they can’t always afford the cost of new condominiums. We’re facing a condo crunch as more and more apartment dwellers desire homeownership but there are few options available in the market.”
Jones points to RSIR research showing that 78-percent of the 496 new condominiums being built in downtown Seattle are currently presold with virtually all remaining homes priced above $700,000. Consumers will find little relief in the resale marketplace as according to the NWMLS, there are only 11 homes listed for sale priced below $700,000. Meanwhile, RSIR reports the median price of resale condominiums sold in October 2017 was $649,500, an increase of 33-percent over the prior year. A preference for newer condominiums was also noted at the recently completed Insignia Condominiums. This presale development was delivered in 2015 and 2016 and experienced four resales last month – all within days of hitting the market, several escalating above asking price and exhibiting an average of 25-percent increases from presale to resale values. Market wide, S&P/Case-Shiller tracked 13.2-percent median home price increases making the Seattle metro area the fastest-rising housing market in the US for the past 12 months.
Citing pent up demand, market pundits anticipate the latest sales release at NEXUS will sell out quickly upon listing on November 18th. Recently, the Urban Land Institute heralded Seattle as the #1 investment market in the US as part of their “2018 Emerging Trends in Real Estate” report. However, the opportunity for individual home ownership has been challenging given the dearth of for-sale housing being built. Research by RSIR and O’Connor Consulting Group confirms that no new condominiums will be delivered in 2017 and it’s estimated that 94-percent of the 27,000+ new multifamily housing units to be built in downtown Seattle’s urban center for the current decade will be for rent and not for sale.
Mathis says more new condominiums are on the horizon but suspects most developers will want to retain their inventory as income property because the market is appreciating.
“Land and construction costs are rising rapidly,” claims Mathis. “The reality is future deliveries will cost more to build and developers will need to charge more to make new developments pencil.”
In a recent feature on Seattle PI, Kirsten O’Brien calls to “city-slickin’ would-be ranchers, farmers and cowhands,” saying “we found your dream home.” The place? Majestic Joy Ranch, a 20-acre natural horsemanship property listed by Realogics Sotheby’s International Realty brokers Chris Doucet and Vicki Jackson. A retreat close to urban amenities, the resort-like facility boasts guest quarters, a 5-car garage, hay storage, a beaver pond, no-chemical input pastures and landscapes, natural horsemanship paddocks with a run-in shed for horses, and a round pen and trail with obstacle training.Read More
On June 12th, I joined my fellow Realogics Sotheby’s International Realty brokers Anastasia Miles, Cindy Paur, Maja Butler, Nancy Klinck, Rosemary West and vice president Stacy Jones at the 15th Annual Ladies on the Links Golf Tournament & Luncheon, a fundraising event to benefit The First Tee of Greater Seattle. The successful day included a 9-hole game and scramble with gifts at each hole, and a live and silent auction at the Broadmoor Golf Club as guests gathered for an incredible lunch.Read More
The June 9th print edition of the Puget Sound Business Journal revealed the list of Largest Residential Real Estate Firms in Washington, ranking Realogics Sotheby’s International Realty sixth overall, an apropos position given that it is the firm’s sixth consecutive year on the list. Ranked by 2016 residential home sales in the Puget Sound region, RSIR reported $1.07 billion in local residential sales last year. Most notably, despite being smaller than any of the brokerages in the top 5 spots at 195 agents, the boutique brokerage reported an average sales price of $767,000, higher than the average of each of the top 5 firm’s by at least $225,000.Read More
Following a record apartment construction surge that delivered more than 12,000 new rental housing units in downtown Seattle, it’s curious that, since 2011, only 866 condominiums were added. What’s more extraordinary is that so few of those new condominiums remain available to purchase today. Simply put, 99-percent of what was built for sale in the last five years has been sold and more than two-thirds of what’s planned for delivery by 2019 is already reserved through priority pre-sale.
Among the few planned condominium buildings in the downtown area is NEXUS – a 41-story, 382-unit high-rise, located at 1200 Howell Street, is slated to break ground in January 2017 with occupancy by mid-2019. Its developer, Vancouver-based Burrard Group, took a unique stance on the market by choosing to build for sale, while 94-percent of the historic supply was built for rent. A demand to own was clearly underscored by hundreds of pre-sale buyers lining up on June 4th, some of which slept overnight, in order to secure a reservation for priority pre-sales. Reservations are offered for a $5,000 refundable deposit and provide prospective home buyers with a unit specific and first right of opportunity to purchase when the homes are officially released for sale in the New Year.
NEXUS reservation holders are savvy and now enjoy a preferred position in the next development cycle, according to Michael Cannon, Sales Director for the development.
“Our buyers realize the market is rising and see the value of securing an option to purchase without fear of multiple offers, price escalation or worse – missing out on the opportunity to purchase a home in one of the few developments likely to deliver before 2020,” said Cannon. “NEXUS isn’t quite like anything that has been offered before in downtown Seattle – progressive architecture, flexible floor plans, robust amenities, and high-tech features – NEXUS has become an exclamation point on the buy vs. rent debate.”
Cannon believes an unprecedented number of apartment dwellers are considering their options with ownership, especially at more attainable price points below $600,000, as down payments require are set at 5-percent of the purchase price and mortgage payments are typically the same as prevailing rents in comparable apartments.
The app allows users to fully immerse themselves in a luxury real estate experience and explore the world’s most extraordinary properties with a expertly curated selection of high resolution photography and high definition video.
Using Siri voice dictation, users can browse properties by city, state, or country or explore the lifestyle categories; whether you are interested in a metropolitan experience or you are a wine connoisseur interested in vineyards and wineries.
Find a property that sparks your interest? You will be able to contact a sales associate directly through the app.
Download the app today on the Apple TV app store. Search for “Sotheby’s International Realty”
To learn more please visit: Sotheby’s International Realty | Apple TV App
A new report by Cicely Wedgeworth for realtor.com has shown that the 2017 housing market is going to be shaken up by an influx of prospective first-time millennial home buyers. Here is what you need to know:
The Great Real Estate Revolution Of 2017
According to a recent survey by realtor.com, in 2016, only 33% of people planning on purchasing a home were first-time buyers. This upcoming year, however, is slated to see a dramatic increase in this demographic, which is expected to jump to 52%, of which, a staggering 61% of perspective buyers are under the age of 35. This means that the 2017 real estate market will subsequently see an increase in competition for housing amongst first time home buyers.
Competition Will Be Intense
With this influx of first time millennial home buyers, the competition for housing within the real estate market will be more substantial than 2016. Jonathan Smoke, chief economist for realtor.com, recommends trying to “’avoid bidding wars and higher prices spurred by a potential increase in millennial buyers’” by considering a winter home purchase. When examining the 2017 real estate market, it is also important to investigate which types of properties will be the most sought after.
In 2017, more millennials will be moving away from renting and towards first time home ownership. With this trend, we see a migration of this demographic away from urban areas and towards the suburbs. According to the recent realtor.com survey, both 50% of millennials and baby-boomers report interest in living either in the suburbs or outlying suburbs. This trend will create increased competition within the market for properties located in these areas.
Baby-Boomers And Millennials Competing Within The Real Estate Market
It seems that the suburbs are not the only thing that baby-boomers and millennials can agree on. With millennials prioritizing a sound financial investment, there will be a focus on “safety, privacy and more space” according to realtor.com. There is expected to be an increase in this demographic seeking single-family homes and townhomes. Babyboomers have a similar focus within their demographic, with 71% of perspective buyers seeking single-family homes.
With both demographics seeking these types properties, it can be expected that these single-family homes will be in high demands, driving costs upwards and availability down.
To read more, please visit: Realtor.com | First-Time Millennial Buyers Poised to Revolutionize the Real Estate Market in 2017
I am thrilled to bring you this month’s event calendar! Your comprehensive guide, take a peek at what’s going on! From Kids Night at Museo Art Academy in Issaquah and brilliantly lit botanical gardens in Bellevue, to the Kirkland Wine Walk, here’s what’s happening around the sound.
Select Links Below to View Full Calendar of Events in Each Community
Bainbridge Island Events >> ♦ Seattle Events >> ♦ Eastside Events >>
Washington’s Largest Affiliate Makes “Hall of Fame” for Fifth Year; Cites “Change Agent” Status for Growth
Realogics Sotheby’s International Realty was recognized by The Puget Sound Business Journal among the top 100 “Fastest Growing Private Companies” in Washington State, according to their 2016 Book of Lists. RSIR is ranked 46th on revenues of $20.66 million in 2015 posting an increase of 125.62-percent compared with 2013. The firm was previously ranked 71st in 2015, 91st in 2014, 24th in 2013, and 2nd in 2012. The list was compiled by companies headquartered in Washington State that posted corporate revenues of ate least $500,000 in 2013 compared with 2015. The sold out event was held at Century Link Field on October 21st complete with photo opportunities on the play field, an inspirational speech by former Seahawks Quarterback Jim Zorn and a performance by the Seahawks “Blue Thunder” drum team.
“We are challenging the status-quo in our industry and this is best demonstrated by the company we keep, the properties we represent and the results we create,” said Stacy Jones, Owner and Vice President of RSIR. “Since we first launched with Sotheby’s International Realty in 2010, it’s been a meteoric rise for our company and for our brokers. There’s plenty more growth ahead with new branch offices and our ever expanding roster of leading sales associates.”
Jones points to a similar growth rate for the global network that now boasts nearly 19,000 real estate professionals and 800+ branch offices in 63 countries and territories. In addition to its global footprint, Sotheby’s International Realty Affiliates’ new SIR.com website now garners more than 1.25 million unique visitors per month and half of this traffic is now being derived outside the US. Worldwide, the SIR network exclusively represents approximately 50,000 of the world’s most significant properties for sale.
Sothebysrealty.com Adds 3D Tours with Virtual Reality Capability for Property Detail Pages
Sotheby’s International Realty Affiliates LLC today announced that its global website, sothebysrealty.com, now supports 3D Tours on its property detail pages allowing real estate consumers the opportunity to fully immerse themselves in homes listed by the Sotheby’s International Realty® brand. The 3D Tours will also feature a Virtual Reality Tour (VR) experience that can be viewed through a compatible device such as an Android phone or VR headset.
The 3D and VR Tours are produced by strategically placing specialized cameras throughout a home to create a result that transforms the traditional way people view homes online. The 3D and VR Tours add an additional layer of content to the existing property detail pages on sothebysrealty.com which also provide a written description, high-resolution photographs and high-definition videos. At launch, the Sotheby’s International Realty brand will have 3D Tours available on over 1,000 properties that are viewable on desktop, tablet or smartphone.
“Introducing 3D and VR Tours on sothebysrealty.com is just another example of how we are keeping theSotheby’s International Realty brand on the cutting edge while creating an immersive experience for consumers,” said John Passerini, global vice president, interactive marketing at Sotheby’s International Realty Affiliates LLC. “Distance can present a challenge when looking to buy a home and virtual reality has provided a provocative solution. This technology is allowing buyers to purchase homes without having to physically travel to view them, which is especially relevant to the global clientele we serve.”
The sothebysrealty.com site experienced 16 million user sessions in Q1-Q3 of 2016, a 60% increase year-over-year. Property detail pages on the brand site support Matterport, a past winner of the 2014 Realogy FWD innovation summit, and additional compatible 3D Tours.
In coordination with this announcement, Sotheby’s International Realty is also a real estate launch partner forMatterport’s CoreVR release— the largest collection of virtual reality content across multiple disciplines. With the adoption of CoreVR, Sotheby’s International Realty will be able to offer both a 3D and VR experience. Additionally, Sotheby’s International Realty property listings on Mansion Global, the digital luxury real estate destination from Dow Jones, will also be equipped with the 3D Tour feature.
Click here for an example of a 3D Tour as shown on a current luxury property listing on theSotheby’s International Realty website.
The Sotheby’s International Realty network currently has more than 19,000 affiliated independent sales associates located in approximately 850 offices in 65 countries and territories worldwide. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realtymarketing programs. Each office is independently owned and operated.
I am thrilled to bring you this week’s event calendar! Your comprehensive guide, take a peek at what’s going on! From “Foodie Friday” at Columbia Winery in Woodinville and the Leavenworth Oktoberfest, to Nightmare at Beaver lake, here’s what’s happening around the sound.
Select Links Below to View Full Calendar of Events in Each Community
Seattle Events >>> ♦ Eastside Events >>>
A tree lined drive welcomes you to this sprawling yet private 6,990 square foot, 5.2 acre estate. This floor plan was meant for entertaining as one room flows seamlessly into the next. The beautiful finishes and grand scale of the house are complemented by the outdoor area where your own private resort awaits you. With a heated salt water pool, lighted tennis court and terrace with fireplace, activities abound in your own paradise.
18025 NE 136th Street | Redmond, Washington
Offered at $2,988,000
I am thrilled to share that the firm made the annual Puget Sound Business Journal list of Fastest-Growing Private Companies for the fifth year in a row! In a recent article entitled “100 Fastest-Growing Private Companies pack economic wallop,” Becky Monk reveals that “the 100 companies that made the Business Journal’s 2016 list collectively had revenue of nearly $3.17 billion in 2015, an increase of 137.26 percent over their total revenue in 2013.”
“We are so proud of the hard work of our brokers, staff and executive team,” said Dean Jones, President & CEO of RSIR. “It is an honor to make the list for the fifth year in a row and we look forward to celebrating at the upcoming ‘Blue Friday Bash’ at CenturyLink Field.”
The Puget Sound Business Journal will reveal where each company ranks on their list during the celebration, which will include a welcome by the Blue Thunder drum corps followed by a tour of the field, photos in the end zone, and end with a beer and wine reception.
Monk adds that “making Washington’s Fastest-Growing Private Companies list isn’t easy. To make the list, companies must be headquartered in Washington state and be privately held between 2013 and 2015. They must have revenue of at least $500,000 in 2012 and report a revenue increase in 2015. The CEOs and CFOs or accountants have to personally vouch for the revenue reported to the Business Journal. Only those with the largest increases made the list.”