Dean Jones

What Do You Think of the Zillow-Trulia Merger?

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You've probably heard by now that Zillow purchased Trulia in a $3.5 billion deal, and it's left many wondering what the effect on the real estate market will be. The Puget Sound Business Journal reports that real estate agencies in the Pacific Northwest agree that it won't be bad for business. The article reads, "[t]here are literally hundreds of real estate aggregating websites out there, said Dean Jones, owner and CEO of Realogics Sotheby's International Realty. Because there are so many places for people to find listings, he expects the expanded Zillow to take a cautious approach to raising its prices because agents could easily advertise elsewhere."

Image Courtesy of RSIR

With the Zillow/Trulia company set to control up to 70% of online real estate listings, it will be interesting to see how this merger plays out in the coming months.

Destination Victoria: Seaplanes, Tenders & Golf Carts, Oh My!

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Recently, Dean Jones of Realogics Sotheby’s International Realty, George Liu and Kevin Corbett of Beijing Sotheby’s International Realty toured the Greater Victoria area in British Columbia. Just moments from departing aboard their Kenmore Air seaplane flight, the trio caught a glimpse of VAVA II – a 315-foot super yacht moored in South Lake Union, which may be a harbinger to the global wealth that is descending upon the Pacific Northwest of late.

PICTURED ABOVE: The 315-foot VAVA II dwarfs the other boats in Lake Union while an inspiring view of downtown Seattle is afforded from the Kenmore Air floatplane.

First stop was James Island, BC, a matchless 780-acre private island in the Gulf Islands and just a quick tender ride across from the Port of Sydney north of Victoria.  Listed by James LeBlanc and Scott Piercy of Sotheby’s International Realty Canada, the $75 million resort-like enclave has too many lifestyle features to list, but is known globally as the only Jack Nicklaus “Signature” golf course in the world.

PICTURED ABOVE: James Island is a 780-acre private island located in the British Columbia island chain known as the Gulf Islands just north of the San Juan Islands in Washington.

PICTURED ABOVE AND BELOW: A “signature” golf course designed by Jack Nicklaus is the only one in the world that exists on a private island – the cost of a round could be $75 million unless you’re an invited guest.

The group also met Dan Matthews, President & CEO of EcoasisDevelopments LLC and toured the office of Scott Piercy, a top-selling broker in the Victoria marketplace, located in the famous Empress Hotel. They also visited a record-setting penthouse sale overlooking the beautiful Victoria Harbor.

For more information see the full RSIR Blog Post Here

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

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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

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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

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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 →

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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.

KOMO TV Says Downtown Seattle is Moving North →

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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 →

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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.”