China Likely to Meet 2014 Growth Targets

The NY Times says that despite debt problems, The World Bank predicts that China will likely meet its 7.5% economic growth target this year. While The World Bank remains optimistic, saying that China’s growth momentum will accelerate as 2014 moves on, many private economists aren’t so sure. Their worry comes from China’s debt, following the 4 trillion renminbi ($585 billion USD) stimulus the government implemented during the financial crisis in 2008-9; a debt that will require China to rethink fiscal and financial policies and systems. Something everyone is excited about? China, traditionally focusing on export and investment, is also turning toward domestic consumption. 

Central Business District of Beijing

Dining Room Organization

If you’re like me, sometimes staying organized can be difficult. Especially in rooms such as the dining room, where table space tempts us to put miscellaneous items like shopping bags or those books that need to be returned to the library. Luckily, Laura Gaskill over at Houzz has some great tips for organizing a dining room and the best part? First, she says it helps to start on a weekend and then slowly finish throughout the week, keeping the task from becoming overwhelming. 

Photo Courtesy of Houzz

As you move from decluttering to deep cleaning and finally to setting the table and using it, her tips are really helpful. Here are a few that I loved:

Tarnished silver? Line a pan with aluminum foil, add boiling water and baking soda, then soak several pieces at a time.

Make space for your favorite everyday pieces.

Dimmer switches are a “must-have” for dining room lighting.

“Keep a bowl of blessings or inspiring quotes written on slips of paper for reading aloud before dinner."

Photo Courtesy of Houzz

Happy Organizing!

Market Highlights: Growth and Competition in the Seattle Market

The RSIR Blog writes, "when looking at the Seattle real estate market these days, growth continues to emerge as a key factor. Chris Daniels and Jake Whittenberg from King 5 newsreport that Seattle grew 2.8% in the last year alone, citing Leonard Garfield, the Executive Director of the Museum of History and Industry, who told King 5 he attributes growth to Amazon and other tech companies that are looking for “cheaper property outside the Silicon Valley and Bay Areas.” In addition, many neighborhoods have already exceeded their 2024 growth targets. One notable neighborhood is Ballard, which has already soared to 317% of its target.

Growth means home prices have surged, a trend Sanjay Bhatt from The Seattle Times describes. He says that in March, Seattle posted “the biggest gain among all metro areas except San Francisco” and adds that home prices have risen 11.6% in the last year and are expected to rise continue to rise by another 6% in the coming year."

Photo Courtesy of RSIR

"So what does all this mean? For one thing, growth and higher home prices make for a competitive real estate market in Seattle. Sam DeBord from the Seattle Pi describes the difficulty many first-time homebuyers are experiencing in a climate where homes sell for an average of 102% of their list price. DeBord’s solution? He says home buyers must find ways to stand out from the crowd, which may mean having an approval letter from a reputable lender, maintaining availability and flexibility, or including a personalized home buyer’s offer. Extra touches that really do make all the difference and speak to our method here at RSIR as well."

Looking to Invigorate Your Home? Try Red!

Becky Dietrich over at Houzz put together some stunning ideas to incorporate what she calls "the power suit" of color palettes into your home: red. A color that truly pops, red is a versatile color with a number of shades and there are a number of ways to use it. A few of my favorite ideas are using it on the front door...

or encompassing multiple shades in a few accent pieces...

or going bold and putting it right on your walls!

Red is a powerful color that is sure to invigorate any home...so how will you use red?

Dean Jones Appointed As Director of Network Development: United States for Newly Announced Beijing Sotheby's International Realty

May 14, 2014 (BEIJING, CHINA) – Executives of Beijing Sotheby’s International Realty, the first affiliate of the global realty network to open in Mainland China, has appointed Dean Jones of Seattle-based Realogics Sotheby’s International Realty as its Director of Network Development for the United States.  In this capacity Jones will join other Beijing-based international sales team members to cultivate referral networks throughout the US and will operate from the firms new Asia Desk within the Eastside Flagship Branch Office and Connoisseurs of Life Showroom located at 15 Lake Street in downtown Kirkland.

“We are thrilled to be collaborating with Dean Jones from this strategic US gateway marketplace as we build out our network opportunities in North America,” said Kevin Corbett, CEO of Beijing Sotheby’s International Realty. “We remain grateful for his introduction to Sotheby’s International Realty Affiliates, LLC and we share his vision to build a US referral pipeline into Mainland China.”

Both Corbett and Jones will attend private ceremonies being held in Beijing this week acknowledging the commencement of Beijing Sotheby’s International Realty.  The team is also sponsoring the much-anticipated Beijing Luxury Property Show being held at the Legendale Hotel on May 16-18, of which the Beijing affiliate is a gala host and featured exhibitor.  These events are expected to draw more than 5,000 highly-qualified homebuyers and members of global media whereas only 80 exhibitors will be present.  For more information visit:  http://beijing.lps-china.com/en

“This appointment and our active participation in events like the Beijing Luxury Property Show have been in development since I first visited China two years ago to explore trends with foreign buyer demand,” says Jones. “We are excited to highlight US lifestyle and investment opportunities while showcasing Pacific Northwest  real estate at this pivotal time in the global industry.”

Jones refers to recent decisions by the Canadian government to cancel their popular foreign direct investor program whereas prospective immigrants could secure residency in Canada in exchange for interest-free loans to the government.  That abrupt cancellation effectively returned more than 60,000 applications, mostly from wealthy Chinese nationals, compelling them to seek out alternatives for immigration into North America including the EB-5 program by the USCIS.  Meanwhile pundits suggest a rebounding US housing market is gaining favor over the record-high US stock market as investors seek a higher propensity for capital appreciation in real estate and prefer the political and economic stability of the US. ”

“American real estate has become a new asset class and increasingly, a preferred financial safe harbor with less volatility than stocks and greater returns than bonds,” adds Jones. “Our properties are viewed as a relative bargain compared to domestic China such as Beijing, Shanghai and Hong Kong.  This trend has been prevalent for decades in markets like Vancouver, BC, San Francisco, Los Angeles and New York City.  More recently a spillover effect of demand has arrived to alternative and emerging markets like the Seattle/Bellevue metro area.  It helps too that we now have numerous direct flights into China, an international culture and a rise of foreign direct investment as many overseas interests discover our booming market fundamentals.”

Asian Real Estate Association Global Summit Round Up

Several members of Realogics Sotheby’s International Realty, including owners Dean and Stacy Jones along with Founding Director Scott Wasner and broker Cassie Daughtrey attended the Asian Real Estate Association of America Global Luxury Summit in New York City April 12-15.  Held at the historic Waldorf Astoria Hotel, the event was sponsored by Sotheby’s International Realty and was co-chaired byPhilip White, President & CEO of the global realty network.  More than 700 registered guests traveled from around the world to participate in the much-anticipated conference.

“I was struck by the significance of the event being held at the Waldorf Astoria – one of the first, largest and grandest hotels in New York City of which its original location hosted thousands of wealthy investors from Europe more than a hundred years ago,” said Dean Jones.  “Fast forward to today, the hotel is again host to another wave of foreign interest, albeit it this time investors are from Asia and most dominantly from Mainland China.”

In addition to Dean Jones' participation on two panels during the event, he also offered a publication for attendees in Chinese and English, which may be viewed below:

Wall Street Journal & Realogics Sotheby's International Realty Shed Light on Trend of Wealthy Chinese Buying US Real Estate for Students

Just in time for the AREAA event, the Wall Street Journal reported on the trend of wealthy Chinese nationals purchasing real estate in the US to anticipate school attendance for their children and in some cases, to ensure the American Dream.

Dean Jones contributed to the article, saying, “the real estate axiom overseas isn’t Location, Location, Location,” says Jones.  “It’s Location, Education, Environment.  The Seattle area has it all with the closest mainland port to China, renowned public and private schools and of course, fresh air and a culture of health and wellness, not to mention no state income taxes.  The Chinese know that they can send their kids here for school with confidence that they’ll graduate with honors, secure a job in quick order and can still afford to buy a home and raise a family without restriction.  That’s not all possible in China and increasingly more difficult in other West Coast markets where jobs and homes are just out of reach for many.”

RSIR Mentioned in March 2014 Editorial in Alaska Airlines Magazine

Realogics Sotheby’s International Realty was featured in the March edition of the Alaska Airlines Magazine, thanks to the professional insight offered by Owner and President Dean Jones. He said, “Millenials are time sensitive and really prefer to walk to work,” and describes that we’re seeing condo-high rises in the city because they accommodate employees who’d prefer to live near their workplace but aren’t ready for a single-family home yet. A home the article says will likely be desired in the future and means the move may be, “just four blocks” away.

Sotheby’s International Realty Reports Gains in Key Performance Metrics for 2013

As Realogics Sotheby’s International Realty has experienced growth this year with the opening of our new Kirkland Showroom, Sotheby’s International Realty Affiliates LLC is also reporting continued growth. In 2013, its U.S.-affiliated brokers and sales professionals handled 24% more transaction sides compared to 2012, a number nearly 3 times higher than the National Association of Realtors.® reported 9.2% gain. Sales volume also rose to 29%, a full 10% higher than the overall market numbers, according to the National Association of Realtors.

Sotheby’s International Realty network only promises continued global growth in 2014, with the opening Beijing Sotheby’s International Realty, which Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC says, “is slated for the first quarter of 2014.”

The Eastside Brokers Become "Connoisseurs of Wine"

On Thursday, March 13th a collective of brokers from Realogics Sotheby’s International Realty’s ”Connoisseurs of Life” Showroom gathered at the new branch office for an evening of wine education courtesy of the Maison DeLille Wine Bar. Guests sipped on four exclusive wines while enjoying a bite and one another’s company. The delicious Wine Tasting Menu ranged from an aromatic Doyenne 2012 Roussanne to a vintage DeLille Cellars 2011.

Sotheby’s International Realty Network Launches 2014 Marketing Program

As the first quarter of 2014 comes to a close and we enter the spring season, Sotheby’s International Realty Affiliates LLC launched its marketing program for 2014. As always, strong relationships with prominent media outlets are key but a noteworthy goal involves the enhancement to new media processes. I’ve made a commitment to a more comprehensive online presence as of late and am thrilled to see our brand focus on things such as the iPad App, “Anthology, the Collection of an Extraordinary Brand,” which will continue to see enhancements as the year progresses. From the opening of our new Kirkland branch office to these wonderful technological marketing goals for our brand, spring looks bright over at Realogics Sotheby's International Realty.

KOMO TV Says Downtown Seattle is Moving North

In an article outlining the recent increase in residential construction just north of Downtown Seattle in communities such as northern Belltown and the Seattle Center, Lindsay Cohen from KOMO TV turned to Realogics Sotheby’s International Realty’s Owner and President Dean Jones for insight.

“I think we’re seeing this neighborhood being targeted by developers because the CBD has become so expensive to develop and arriving later in this current development cycle suggests building within smaller building envelopes,” said Jones.  “The zoning in this neighborhood surrounding Seattle Center is much lower so we’re talking about more boutique communities where the developer can get into the city, get vertical quickly and be out to market in some cases before other high-rise projects are completed, even if they are under construction today.”

Realogics Sotheby’s International Realty Further Establishes its Global Connections

Big news for Sotheby’s International Realty Affiliates, LLC as they revealed that Beijing will soon see a Sotheby’s International Realty Office in their city. Dean Jones, Owner and President of Realogics Sotheby’s International Realty, who introduced Plus Investment to the global network nearly two years ago, told the RSIR Blog, “in many ways this timing for Beijing and our own Eastside expansion is very serendipitous . . . we look forward to exploring all these opportunities for the benefit of our brokers and our clients alike. This brand is all about exposure and relationships. This direct conduit to the Capital City of China is a very significant accomplishment for our network.”