Video of the Week: Majestic Waiea Grand Penthouse in Kakaako, Honolulu, Hawaii

 
 
$35,000,000 USD | Honolulu, Hawaii | List Sotheby’s International Realty 

 
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. 

Discover luxury home tours around the world 

New & Notable Luxury Properties for Sale

From a vast historic island estate in New York to a modern masterpiece in Dubai, this month’s collection of exceptional properties for sale feature homes from some of the world’s finest locales. 

$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

FOLLOWING RECORD GAINS FOR THE PAST 12 MONTHS, SEATTLE IS POISED TO CONTINUE ITS REIGN AS THE HOTTEST HOUSING MARKET IN THE U.S. IN 2018

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

FORBES CROWNS SEATTLE THE SECOND COOLEST CITY IN THE NATION

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. 

Original source on RSIR

REALOGICS SOTHEBY’S INTERNATIONAL REALTY & BURRARD GROUP ANNOUNCE A MAJOR MILESTONE IN THE DEVELOPMENT OF NEXUS CONDOMINIUM TOWER; ENCORE RELEASE OF 16 CITY SUITES ON 11/18

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.” 

Original source on RSIR

Vicki Jackson Attends Sotheby's International Realty Global Networking Event in Las Vegas

For the past few days, I have been in Las Vegas for the Sotheby’s International Realty Affiliates Global Networking Event! Monday’s Welcome Reception was followed by numerous breakout sessions covering topics from Brand Conversation and Negotiation to Leveraging Media and New Developments. To cap off an excellent week of learning, we made sure to embrace the moment by taking a family photo poolside at the Wynn.

I am leaving tomorrow and look forward to sharing all I've learned and the new roll outs Sotheby’s International Realty is introducing in the coming year. It’s always a pleasure to reconnect and make new friends within the Sotheby’s family!! 

Sotheby's International Realty® Brand Welcomes Napa Valley Firm

On May 3rd, Sotheby’s International Realty Affiliates LLC announced that Gates Estates in Yountville, California is the newest member of its real estate network and will now operate as Gates Estates Sotheby’s International Realty.

The firm is owned and operated by Cyndi Gates, a seasoned Napa Valley real estate professional who has been in the business since 1979.  Gates Estates Sotheby’s International Realty will serve the northern Napa Valley region including Napa, Yountville, Oakville, Rutherford, St. Helena and Calistoga, California.  With this addition, the Sotheby’s International Realty® network now has 115 branded offices throughout the state of California.

“Yountville is a quintessential Napa Valley town with wine country charm and gourmet dining,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “The area is a blossoming luxury residential real estate market, and we are proud to welcome Gates Estates Sotheby’s International Realty to our network.”

“Having worked in Napa Valley real estate for over 35 years, I have seen the region flourish into the wine country and vacation destination it is today,” said Gates.  “I established my own firm in 2009 to better serve the community I have come to know and love. As a boutique residential real estate brokerage with a concierge-style approach, our goal is to smoothly guide our clients through their real estate transactions, making their experience effortless yet memorable to develop long-term relationships.  Affiliating with theSotheby’s International Realty brand will elevate our already successful business and broaden our marketing horizons, allowing us to strengthen the level of service we provide to our clients.”

Gates Estates Sotheby’s International Realty is located at 6550 Washington Street in Yountville.

The Sotheby’s International Realty network currently has more than 18,800 affiliated independent sales associates located in approximately 835 offices in 63 countries and territories worldwide.  Gates Estates Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website.  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 Realty marketing programs.  Each office is independently owned and operated.

Realogics Sotheby's International Realty's Newest Branch Office at "The Park House" Receives Media Attention

As Patti Payne of the Puget Sound Business Journal announced on March 28th, “Realogics Sotheby’s International Realty is expanding into Seattle’s Madison Park” with its fifth branch office location. The latest addition to the growing global real estate brand “will consist of two sites across from each other: The Park House, a boutique real estate store front at 4031 Madison St.; and administrative offices in the building across the street.”

“Jones sees growing and sustained demand in the Madison Park area because of local job growth and traffic congestions. ‘I believe this is a point of inflection,’ he said, ‘and the Park House and our new brokers will be timely additions to our regional network as these trends play out.” Jones also alluded to future office locations in Seattle and the Eastside in areas “to be determined.”

For more information on “The Park House” branch office, Read the Press Release >>

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.

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“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.”

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.”

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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.

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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.”

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