Connie Blumenthal

The Most Seasoned Real Estate Connoisseur in Greater Seattle and Mercer Island Luxury Real Estate Markets

Luxury Real Estate Headlines: Third Week in November 2016

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

4.600.000€ EUR | Uusimaa, Finland |  Snellman Sotheby’s International Realty

“This two-level home on the Gulf of Finland’s shore in Soukanniemi shines with a white rock stone exterior and simple columns near the entrance.”

Spa Luxuries in Home a Stone’s Throw from Helsinki – Mansion Global

Three Homes for Sale Near Ski Areas – Wall Street Journal

Sotheby’s International Realty Announces Apple TV App – Inman News

Five Homes for Sale Near LGBT Venues or Landmarks – Financial Times

10 Modern Homes That Get Luxe Mountain Living Right – Elle Decor

As Markets Waver, the Rich Park Money in Luxury Homes – The New York Times

French Polynesia: Homebuying from Private Islands to Entire Atolls – Financial Times

Wilson, Wyo.: A Low-Key Ski Town for America’s Wealthy – Wall Street Journal

JK Rowling’s Hand-Drawn Tales of Beedle the Bard Go Up for Auction – The Guardian

Edvard Munch Painting Fetches $54 Million at Sotheby’s Sale in NYC – Chicago Tribune

RSIR Annual Sales Production Exceeds the $1 Billion Mark!

Realogics Sotheby’s International Realty (RSIR) announced a pivotal sales milestone of surpassing $1 billion in residential sales volume over a trailing 12 month period as of October 2016, according to Trendgraphixresearch.  Since commencing operations with the Sotheby’s International Realty network in February 2010, the new Seattle-based brokerage firm has quickly expanded to five regional offices including Downtown Seattle, Bainbridge Island, Kirkland, Issaquah and Madison Park, with more than 200 brokers and employees that proudly serve all property types and price points.

“Today we recognize the collective accomplishments of our entire team and the power of this extraordinary brand by reaching this significant sales marker,” said Dean Jones, President and CEO. “We are truly honored to represent Sotheby’s International Realty and the thousands of clients that have chosen to work with us over the years.  This milestone is a testament to the company we keep and the results we create – one sale at a time.”

Perhaps best known for selling priceless works of art at the auction house and noted estates worldwide, the Sotheby’s® brand is synonymous with luxury. RSIR has participated in 31-percent of all the sales valued above $5 million in the region during the trailing 12 months and it’s brokers currently represents 30-percent of the most valuable listings in the Northwest Multiple Listing Service.  However, the firm also applies its unique platform to deliver unparalleled service at all market segments.  Over the past year, home sales priced below $500,000 and between $500,000 and $1 million were equally balanced – each segment comprising 37-percent of the 1,171 residential sales while 26-percent of sales closed above $1 million.

“To us, luxury is an experience and not just a price point,” said Jennifer Johnsen Cameron, Vice President of Brand Development for RSIR.  “Our commitment is to deliver an exceptional level of service and matchless visibility for all our properties, whether that’s a $400,000 starter home or a $40 million estate.”

Johnsen Cameron credits RSIR’s ability to innovate and provide unique marketing solutions as essential for the company’s success; “We offer our robust Asia Services Group, we benefit from exclusive partnerships with Puget Sound Business Journal and Geekwire, and we represent some of the most important high-rise and mixed-use developments in the region,” adds Johnsen Cameron. “These platforms have been a catalyst to our growth because our company has developed programs that are only available at RSIR.  Ultimately, our objective is to provide every available advantage in the industry to our brokers and to our clients.  As the market evolves, so do we.”

Despite being the newest brokerage to join an established peer group of the largest residential real estate brands in Washington State, RSIR consistently ranks among the highest average selling prices, maintains the greatest percentage of producing brokers, and the highest listing sales production on a per broker basis.  The firm has also been recognized among the fastest growing, with a 43-percent growth in sales volume year-to-date in 2016 and represents 73-percent of the sales for the Sotheby’s International Realty Brand in Washington State.

Worldwide Sotheby’s International Realty has grown to include more than 800 offices with 19,000+ sales professionals representing 47,850 exclusive listings.

Luxury Real Estate Headlines Around the Globe

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home, courtesy of Sotheby's International Realty.

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10 800 000$ CAD | Ontario, Canada | Sotheby’s International Realty Canada

“Even the most die-hard city slicker might have a hard time resisting the urge to hightail it to Canada’s 11-acre Bass Island after seeing this architecturally impressive waterfront home located on Ontario’s peaceful Lake Muskoka.”

A Luxurious Waterfront Retreat on Ontario’s Peaceful Lake Muskoka – Mansion Global

Watefront Home on Miami’s Star Island Asks $65 Million – Wall Street Journal

Five Properties for Mountain Living – Financial Times

Sotheby’s International Realty Brand Expands Presence in Washington State – Sotheby’s International Realty

Tinder CEO Sean Rad Sells Wilshire Corridor Penthouse for $7.75 Million – Los Angeles Times

Island Fantasies Heat Up Among Luxury Property Buyers – Mansion Global

An Artist’s Studio Grows into a House – Wall Street Journal

House Hunting in… the United States Virgin Islands – The New York Times

Sotheby’s International Realty Brand Enters St. Vincent & the Grenadines – Sotheby’s International Realty

The Place Capote, Carson and Cronkite Called Home – Wall Street Journal

Bronxville: Picture-Perfect Homes, Hard-to-Beat Commute to Manhattan – Mansion Global

For Sale: 7 Beautiful Waterfront Homes in Virginia – The Week

Home of the Day: Classic Curb Appeal in Silver Lake – Los Angeles Times

Six Courtyards with Classic Appeal – Architectural Digest

10 Modern Homes that Get Luxe Mountain Living Right – Elle Decor

Toronto’s Home Sales and Prices Soared Double Digits in October – Mansion Global

Sotheby’s Plans Auction of Alexander Hamilton Memorabilia – Playbill

2017 REAL ESTATE MARKET: WHAT MILLENNIALS NEED TO KNOW

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.

The Suburbs

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

Realogics Sotheby's International Realty Honored Among Top 100 Fastest Growing Private Companies in the Puget Sound

Realogics Sotheby’s International Realty (RSIR) was recognized by The Puget Sound Business Journal (PSBJ) 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 from 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.

Jennifer Johnsen Cameron is particularly struck by RSIR’s ability to remain on the Fastest-Growing Private Companies List given that annual growth rates of at least 26-percent is required,  which is based on the tremendous growth of companies throughout Washington State.  According PSBJ’s research, 59-percent of the companies on the List are located in Seattle or Bellevue and King County is home to 86 of the 100 companies ranked in 2016.  The 100 fastest-growing companies more than doubled their collective workforce since 2013, with total employment now exceeding 10,000 jobs for 2015 and revenues that increased 146-percent from $1.3 Billion in 2013 to $3.2 Billion in 2015.  The fourth and fifth most significant industries represented were Construction and Real Estate – both directly related to RSIR’s business model.

Earlier in June 2016, PSBJ recognized RSIR as the 7th largest Residential Real Estate Firm in Puget Sound for 2015 on $800 million in residential sales.  RSIR consistently produces the highest average selling prices amongst its peers and generates the greatest listing sales production on a per-broker basis when compared with the top ten largest brands. In 2016 the company launched a campaign entitled “We Are | Change Agents” and describes the firm’s commitment to industry innovation, extraordinary marketing prowess and broker servicing that befits a global company. It also makes note of the new and improved rsir.com, RSIR’s Asia Services Group, and the firm’s over $2 billion in marketing sales experience for new construction.

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.

#InTheNews: Luxury Real Estate Headlines: October 2016

Highlights from this month's top news stories on luxury and global real estate, art, collectibles and home.

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CHF 10’400’000 CHF | St Moritz, Switzerland | St. Moritz Sotheby’s International Realty

“This 300 year-old house, designed in the traditional style of the Engadine region in the Swiss Alps, has just undergone a three-year-long renovation and is now equipped with a Balthaupt kitchen full of Gaggenau and Siemens appliances.”

-What a $10 Million Ski Chalet Looks Like at Three Major Global Resorts – Bloomberg

Tuscany’s Vineyard Homes – Wall Street Journal

This Legendary Lakefront Tahoe Estate Once Belonged to Howard Hughes – Mansion Global

Sotheby’s International Realty Beats Zillow and Realtor.com to 3D – Inman News

East of Geneva, a Chateau with an Aristocratic Past – The New York Times

Five Properties for Sale with Extraordinary Pools – Financial Times

The Key from Ben Franklin’s Kite Experiment Opened this Front Door – New York Post

3 Extraordinary Eco-Friendly Homes for Sale Right Now – Architectural Digest

For Sale: 7 Beautiful Homes in Delaware – The Week

A Montana Ranch with the Rustic Appeal of an Elevated Cabin in the Woods – Mansion Global

Five Wine Estates or Properties with Vineyards – Financial Times

Modern Farmhouses: California Wine Country’s New Must-Have Homes – Wall Street Journal

Beautiful Victorian Mansions for Sale Around the World – Architectural Digest

Flocking to the San Juan Islands – Mansion Global

House Hunting in… Spain – The New York Times

Wealthy Chinese Buyers are a Growing Force in U.S. Real Estate Markets – The Washington Post

It’s in the Numbers: Luck and Superstition Sell Luxury Real Estate – Mansion Global

Cartier ‘Sky Blue Diamond’ Ring Could Fetch $25 Million – Forbes

Realogics Sotheby's International Realty Makes the Puget Sound Business Journal's List of 100 Fastest-Growing Private Companies for the Fifth Consecutive Year

Realogics Sotheby’s International Realty is 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.”

Read Last Year’s Event Coverage >>

Realogics SIR Announces Exclusive Real Estate Portal on Geekwire and Launches "Geek Home of the Week"

Dynamic Voting Tool Targets Second Fastest-Growing Tech Community in US; Attracts Preferred Sponsors

Realogics Sotheby’s International Realty (RSIR) announced today an exclusive media partnership with GeekWire, a fast-growing and broadly followed website that has become a daily news source and events podium for the high-tech industry in the Pacific Northwest and beyond. The dynamic platform will showcase properties, highlight market trends and feature real estate sponsors. A real time voting tool puts consumers in the driver’s seat to select the currentGeek Home of the Week” as more than 1 million unique visitors per month visit the website and 25,000 active subscribers digest the daily newsletter and are presented with the region’s most extraordinary properties.

The tech community is clearly an economic driver and GeekWire is an industry leader to reach this consumer,” said Dean Jones, President and CEO of RSIR. “Our platform is fun, informative and a functional way to see what’s trending in real estate. We’re just getting started.”

Recently, GeekWire reported that the Seattle/Bellevue region is the second hottest tech office market in the US behind the Bay Area, which Jones says is attracting thousands of jobs and an equal number of inbound residents to fuel the local housing market. He also believes the record number of apartment deliveries over the past development cycle is incubating future homebuyers because interest rates are low, and both rents and median home prices are escalating. These market dynamics are encouraging increasing numbers of relocating residents to consider homeownership at all property types and price points.

“We’re thrilled to partner with Realogics Sotheby’s International Realty on the new Geek Home of the Week feature, displaying some of the coolest real estate and luxury homes for sale in the region,” saidJohn Cook, Co-Founder of GeekWire. “Our viewers geek-out about a lot of things — software, aerospace, science, startups — and now we’re excited to feature an amazing home each week and distribute timely real estate news on GeekWire.”

The real estate portal quickly attracted industry sponsors such as Burrard Group, developer ofNEXUS Condominiums – Seattle’s much-anticipated high-tech, high rise and Caliber Home Loans– the #1 purchase lender in King and Snohomish County. Periodic guest authors will offer editorial content on trends in design, lifestyles, home technology and mortgage lending. The platform will also introduce educational events and promote campaigns such as the#NoPlaceLikeOwn initiative that helps consumers contrast buy vs. rent data and highlight the purchasing power of the region’s tech workers.

“Most prospective homebuyers in the tech industry don’t realize that mortgage underwriting will now consider restricted stock units when qualifying and presale opportunities in future condominium buildings can be secured with as little as 5-percent down payment,” adds Jones. “Our partnership with GeekWire will provide a timely resource center for this target audience.”

Jones thinks the region’s tech workers and Millennials will be the greatest demographic profile driving the local housing market for the foreseeable future. A recent report by economist Brian O’Connor of O’Connor Consulting Group confirms that Millennials are the largest population cohort in the Seattle/Bellevue Metro Area and comprise a massive consumer influence.

Nelson Yong is a Millennial and a marketing strategist, entrepreneur and community builder that specializes in the tech industry.

“Leave it to innovative industry leaders like GeekWire and Realogics Sotheby’s International Realty to come together,” said Yong. “Many of us are in the market or thinking about it. A real estate portal on the preeminent industry news source is both smart and well timed.”

For more information, visit a newly launched website at www.GeekWire.com/home-of-the-week

Sotheby's International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned And Operated. Seller reserves the right to change product offering without notice.