What’s Next: Your Weekly Event Calendar Update

Realogics Sotheby’s International Realty (RSIR) is thrilled to bring you this week’s event calendar! Your comprehensive guide, take a peek at what’s going on! From the RSIR’s Upcoming Cycle Saloon Tour and the Opera’s Preview of Nabucco, to an exclusive Sotheby’s Jewelry Evaluation Event held at our Kirkland Connoisseurs of Life Showroom, here’s what’s happening around the sound:

Select Links Below to View Full Calendar of Events in Each Community

Seattle Events >>>     ♦     Kirkland Events >>>    ♦    Bainbridge Island Events>>>

Spotlight Events


Kirkland Highlight
Bainbridge Highlight

 

 Here’s to fantastic new experiences and we’ll see you next week!

 

“Home of the Week” Winner | Perfect Seattle Hill Home

Home of the Day is a feature presented by the Puget Sound Business Journal and Realogics Sotheby’s International Realty. This is your invitation to view some of Puget Sound’s most luxurious properties. Come inside and take a look around. Read more below on the “Home of the Week” winner, listed by Bob & Jim Wold!

Perfect Seattle Hill home! Great Room plan with updated open kitchen and 2 sets of French Doors leading to HUGE covered outdoor living area/deck perfect for year round use and entertaining! Enjoy the covered country front porch with peekaboo of Baker or watch the hot air balloons. Gardener’s delight with 6 raised beds, lovely yard. Nice spaces, plenty of storage/shop space with 2-3 car tandem garage. Updated with new roof, Rinnai Tankless H2O, newer carpet and paint, new bamboo flooring on the main level. A true GEM!

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Learn more about our exclusive partnership with the PSBJ here:

Condos Stage a Comeback; First Presales in a New Development Cycle Begin Closing

Following a five year absence of condominium development the first presales at Insignia have begun closing in July 2015. The 700+ unit twin tower was the first large condominium project to break ground and commence presales in 2012 as the in-city housing market signaled a rebound and Bosa Development kick started a new cycle of for-sale development. The last major development was Escala, which broke ground in 2007 and delivered in 2009/10 amidst the Great Recession. Until recently, developers have focused on building apartments, noting that the region’s robust job growth has attracted many new residents that prefer to rent, helping to drive up lease rates despite the fact thousands of new apartments have been delivered and more are in the pipeline.

The Daily Journal of Commerce recently tapped Realogics Sotheby’s International Realty (RSIR) to evaluate the success of Insignia and what this means for the in-city housing market ahead. Reporter Nat Levy noted that the only substantial condominium projects being developed currently are the Insignia in Belltown and LUMA on First Hill.

“About half the condos being developed are already presold,” said Jones. “Values are rising for both new construction and resales alike, which will be needed to pencil new condominium projects ahead. Consumers need to recognize that their purchasing power is dwindling as inventory shrinks and interest rates expand. What we see is what we get for new supply until the market values support new towers. Without this new inventory, the market will only get tighter and more expensive.”

Jones says high rents and low capitalization rates means apartments are selling at similar prices with the typical condominium. So unless a developer is targeting a luxury segment and builds a tower that will command the premium necessary to edge out apartments, consumers will find fewer condos to choose from, especially at more affordable price points. That means higher prices ahead.

Meanwhile, RSIR has suggested that it may actually be less expensive to own than to rent. RSIR has partnered with Caliber Home Loans on an educational platform called #NoPlaceLikeOwn to help renters understand the market fundamentals and explore ownership opportunities. Consumers are encouraged to register for upcoming events and market information.

Download the Article >>>

 

Cassie Daughtrey is a Pacific Northwest Celebrity; Featured on Multiple Media Outlets for her Stunning Eye for Staging

Over the past couple of weeks, Realogics Sotheby’s International Realty (RSIR) broker Cassie Daughtrey has elevated herself to celebrity status in the Pacific Northwest, with features on Kiro TV and The Puget Sound Business Journal‘s  print and online editions.

The buzz revolved around the recent sale of her listing located in Ravenna, which sold digitally for $1.2M. As Monique Ming Laven asked when introducing the story, “would you buy a house you’d never seen in person?” Well, as Daughtrey tells Alison Grande from Kiro, in order to make this type of technological success possible, “you have to present that house perfectly. From the get go.” Thus in the case of the Ravenna home, Daughtrey handled painting and staging, and the result was not only a “Face Time” deal, but an offer that was 20% over the asking price of $975,000.

The Puget Sound Business Journal (PSBJ) also highlighted the sale, as RSIR previously reported. Daughtrey told PSBJ that the home had only been on the market a matter of hours when she received an offer that “was ‘significantly over’ the $975,000 asking price.” Unsurprised by the price point, Daughtrey says the digitality did catch her off guard. Comparing the climate buyers currently face to that of 2010 or 2011, Daughtrey says her buyers used to be able to view a property, take a few days to think about it, and come back for a second look, but now with such a hot market, she admits that offers have to be much more timely. View the print article.

The sale is a testament to Daughtrey’s incredible ability to stage a home that tells a story, enticing even buyers from long distances. Take, for instance, photos of her most recent listing, Whiskey Creek Beach, where potential buyers get to know the heart and soul of the home with images of a cute Scrabble scene, bonfire complete with S’Mores fixings and a box of local Rainier beer, and an image of Al Fresco dining…

Click to view slideshow.

Read Daughtrey’s guest blog post regarding  her recent stay at Whiskey Creek Beach >>>

What’s more, Daughtrey has been featured on the lifestyle website Houzz    for her adorable settings, both in and outdoors:

 

With Daughtrey’s creativity, passion, and design aesthetic, making a house a home is made possible, even if the viewing only comes through the lens of a cell phone camera.

 

What’s Next: Your Weekly Event Calendar Update

Realogics Sotheby’s International Realty (RSIR) is thrilled to introduce our NEW event calendars! Each week, we’ll spotlight top upcoming events in Bainbridge Island, Seattle, and the Eastside, to provide your comprehensive guide to what’s going on. So, if you’re wondering how to spend this gorgeous weekend of sunshine, just take a peek at What’s Next — from The Bite of Seattle and Kirkland Uncorked to a Unique Cruise Around the Sound, here’s what’s happening around the sound:

Select Links Below to View Full Calendar of Events in Each Community

Seattle Events >>>     ♦     Kirkland Events >>>    ♦    Bainbridge Island Events>>>

Spotlight Events

Seattle Highlight
Kirkland Highlight
Bainbridge Highlight

 Here’s to fantastic new experiences and we’ll see you next week!

 

Realogics Sotheby’s International Realty Brings Two Properties to Curbed’s Most Expensive Home Sales of the Year List

Sean Keeley from Curbed Seattle did a little digging, when he “decided to round up the region’s most expensive real estate sales of the year so far” and he found that the Eastside was the true “hot spot,” as “only two of the top 15 happened in Seattle” while “the rest were spread out across Bellevue, Mercer Island and Medina.” Realogics Sotheby’s International Realty (RSIR), no stranger to high end property sales, was involved in two of the transactions, one on the buyer’s end, the other on the seller’s.

Image Courtesy of Estately

 

4108 55th Ave NE   |   Seattle, WA 98105

Chris Doucet represented the buyer of “Laurelhurst Colonial Revival,” which sold for $5.22M. One of only two homes on Curbed’s list are located in Seattle, and Keeley notes the significance of this transaction, as the home “was actually ‘only’ listed for $4.65M,” meaning that “one of those bidding wars we keep hearing about must’ve ensued and the three-level Colonial Revival ended up going for almost $600k over ask.”

Above Image Courtesy of RSIR

 

3406 97th Ave SE   |   Mercer Island, WA 98040

Jim Stroupe represented the seller of “New Mercer Island 4-BR,” which sold for $4.1M. Keeley describes that this property was one among a handful of new construction opportunities, adding that “when it’s done, the 8,235 square-foot NW contemporary will sit on two lots touching 101 feet of no-bank waterfront.”

Staying Ahead of the Tech Curve: Savvy RSIR Brokers Explore New Social Real Estate Platform

This past Friday, our recently promoted Vice President of Marketing, Andrea Savage, led an interactive webinar on a new social platform that is going to change the real estate industry. As we love staying ahead of the curve, RSIR brokers are jumping on the opportunity to exclusively test the beta site before its launch this fall.

Stay tuned for updates on this exciting new program in the upcoming months!

Belltown Real Estate Profile in Seattle PI Showcases One Pacific Tower Condominium, Offered by Founding Director Moira Holley

What better way to complement a real estate profile on Belltown’s storied past and recent changes than by showcasing a stunning condominium located in the heart of the area? Kirsten O’Brien from the Seattle PI did just that, featuring Realogics Sotheby’s International Realty’s Founding Director Moira Holley’s listing at One Pacific Tower. Offered at $649,000, Unit 604 provides space, location and light, from the edge of Seattle’s iconic Pike Place Market. With a layout that lives like a house, protected urban and water views, and a building terrace and private garden, it embodies the historicity O’Brien speaks to when she describes Belltown.

Click to view slideshow.

Writing about the city’s history, O’Brien says it “was named by William Nathaniel Bell, an Illinois native and member of the first group of white settlers in Seattle,” and that his legacy permeates the city, as “main thoroughfares in downtown, including Bell Street, Virginia and Olive Streets and Olive Way, were all named after his daughters.” Regarded as a low-income neighborhood in the past, O’Brien now says that “Belltown is often thought of as the hip, swanky part of downtown because of its bustling nightlife scene; it has no shortage of cocktail bars and restaurants.” O’Brien also notes that new development has closed down some favorite local spots, but “the area is still a hub for local artists and is home to the Art Institute of Seattle; it also borders the Cornish College of the Arts,” and puts on a popular art walk each month. Further, “Belltown is also the third most walkable neighborhood in Seattle,” which gives us all the more reasons to love the neighborhood and Holley’s coveted One Pacific Tower listing.

More information about One Pacific Tower #604 >>>

Unique Somerset Custom Home, Listed by Lili Shang & Lisa Woolverton, Winds its Way onto Curbed Seattle

According to Sean Keeley from Curbed Seattle, “Unique Custom Somerset Home,” listed by Lili Shang and Lisa Woolverton, “Has Curves In All The Right Places.” Beginning with the wrap-around windows boasting “clear views from the hilltop out to Lake Washington where the Seattle skyline looms in the distance,” Keeley notes a number of “curves” throughout the home; from the “coved stain glass window in the bathroom” and “curled shower class” to the “custom counter that practically loops around the entire kitchen” and “spiral cherry & maple staircase leading up into a central atrium full of indoor trees,” the home is truly impressive.

Click to view slideshow.

Keeley makes an excellent point, as the home flawlessly fuses indoor and outdoor spaces, offering spectacular views and abundant natural light, using exotic woods and natural materials, and featuring a waterfall and indoor trees. So we can definitely see why Keeley says that “this 5,200 sf home doesn’t corner the market, it curves, meanders and weaves through it.”

More Information About Unique Custom Somerset Home >>>

Carrie DeBuys Featured in The Wall Street Journal; Describes the Art of Competitive Offers in a Tech-Infused Seattle Market

Given the trend of technology giants to relocate to, or open offices in, the Seattle area, it is no surprise that, as Alina Dizik from The Wall Street Journal (WSJ) reports, “real-estate prices for luxury properties close to downtown are up.” The article, “Seattle’s Luxury Homes Get a Tech Boom Boost,” cites Realogics Sotheby’s International Realty broker Carrie DeBuys, and describes that in especially sought-after neighborhoods, such as “Queen Anne, Madison Park, Washington Park and Capitol Hill,” increased demand and zoning requirements mean mostly single-family residential homes are available; and with low inventory, competitive offers are a requirement. DeBuys told WSJ  that because homes are going so quickly, “to make offers more competitive, many buyers are adding escalation clauses to their bids, which allows real-estate agents to automatically renegotiate to a higher price on their behalf if the bidding escalates,” a tactic DeBuys has found quite successful in Seattle’s current market.

 

The article also outlines a trend for wealthy buyers to purchase a larger piece of property, demolish the current home, and rebuild not only a home to live in, but other homes to sell. For instance, Ken Woolcott, “spent $2.3 million on a property in the leafy Queen Anne neighborhood and tore down its Frank Lloyd Wright-influenced home,” building a residence for himself in addition to two townhouses “to sell for investment purposes.” Investments that will likely garner high returns, given the anemic single-family residential inventory in these highly desirable neighborhoods.