THE COLLECTION
For the Connoisseurs of Life in the Pacific Northwest
REALOGICSSOTHEBYSREALTY.COM I 1
a family of world-class performers, on stage at maserati of seattle.
THE MASERATI GRANTURISMO, GRANTURISMO CONVERTIBLE & QUATTROPORTE. The Maserati family of award-winning automobiles has a model tailored to reflect your individuality and to inspire your passion for driving like no other car in the world. Our GranTurismo range of high-performance four-seat, two-door coupés and convertibles includes the limited-production MC and exhilarating Convertible Sport. The Quattroporte range of luxury sport sedans redefines the breed with the Quattroporte S and exclusive Sport GT S. Every Maserati is a masterpiece of design and engineering, and each is powered by a competition-proven V8 engine to remind you— and everyone on the road—that you are driving an automobile like no other. The Maserati family starts at $123,000 *.
Passion runs in the family. lEarn MOrE: www.maseratiofseattle.com SChEdulE yOur TEST driVE: 866.885.3926
Follow us:
maserati Granturismo s base msrP $123,000, not includinG Gas Guzzler tax, dealer PreP and transPortation. dealer Price may vary. taxes, title and reGistration fees not included. ©2012 maserati north america, inc. all riGhts reserved. maserati and the trident loGo are reGistered trademarks of maserati sPa. maserati urGes you to obey all Posted sPeed limits.
THE COLLECTION
ALL SMILES. The Realogics Sotheby’s International Realty Executive Team is pictured with Mike Good (second from left), CEO of Sotheby’s International Realty Affiliates during the Global Leadership Forum in Chicago on September 12, 2012.
FORWARD Can you FEEL it? Real estate has become exciting again…
DOWNTOWN SEATTLE BRANCH 2715 FIRST AVENUE SEATTLE, WA, 98121 + 1 206 448 5752
So much is changing so quickly. Since our spring edition of The Collection magazine, the real estate headlines turned a corner and buyers are back! By most accounts the next several years are going to be fundamentally different than the past few, thank goodness. With corrected home prices and strong job growth, thousands of residents are relocating to our region. In anticipation, dozens of new residential communities have broken ground within the metro area releasing a five year pinch on the production pipeline. Other major developments also on the horizon include the billion-dollar Seattle Waterfront revitalization, a likely rezone of South Lake Union, a new NBA/NHL arena and the rekindled expansion of Lincoln Square in downtown Bellevue. Meanwhile The Fed continues to stimulate the markets and consumer confidence providing a clearer path forward for would-be buyers and would-be sellers. In this current issue we showcase many fine properties and recent sales of significance, a collection of our broker profiles, insightful articles like “Foreign Buyer’s Desires”, to “Great Escapes”, memorable events such as “The Great Gatsby”, trends in micro markets and a glimpse into the people and places behind our Brand. This is our world and we’re pleased to share it with you. VISION. PASSION. MOMENTUM. These words were used to describe our global real estate network during the most recent Leadership Forum held in Chicago, which assembled executives from many of the 44 countries and more than 660 offices worldwide. In the past our CEO and Brand leader, Mike Good would close, “We strive to be the quintessential luxury real estate brand in the world. And if we’re not there yet, we’re certainly on our way.” This year his statement was definitive, “We have arrived.” We are proud to be contributing to this shared mission of excellence as we represent the Pacific Northwest here locally and around the globe. Enjoy!
BAINBRIDGE ISLAND BRANCH 271 MADISON AVE, SOUTH STE 102 BAINBRIDGE ISLAND, WA, 98110 + 1 206 842 0842
Warm regards,
Dean Jones CEO | Owner, Realogics Sotheby’s International Realty
REALOGICSSOTHEBYSREALTY.COM I 1
C O N T E N TS FA L L 2 0 1 2
MARKET WATCH REPORT
28
14
PENTHOUSE A GO-GO
FOREIGN BUYERS’ DESIRES
32
05
STAGING A COMEBACK
22
AWARD-WINNING CONDOMINIUMS
26
START SPREADING THE VIEWS
38
SIGNIFICANT SALES
44
THE EXCHANGE
60
ALASKAN PARADISE FOUND
66
INTELLECTUAL PROPERTIES
72
IN THE SCENE
78
BUILDING BETTER BROKERS
COVER PROPERTY ARCHITECT TOM KUNDIG
48
AN ISLAND CITY ALTERNATIVE
© 2012 Realogics Sotheby’s International Realty. All Rights Reserved. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Each Office is Independently Owned and Operated. The Collection is published on behalf of Realogics Sotheby’s International Realty by Sierra Media Group, Inc. +1 727 741 4141 / realogics@sierramediagroup.com
GREAT ESCAPES
56
Disclaimer: Information contained herein has been obtained from sources deemed reliable but cannot be guaranteed. Viewers are encouraged to perform independent due diligence before relying on any content. Opinions expressed are not necessarily that of the franchisee or franchisor. Sellers reserve the right to change their product offering without notice. PHOTO: AARON LEITZ
THE COLLECTION
SEATTLE, WASHINGTON
WATERFRONT LIVING AT ITS FINEST Lakehaven. One name says it all-privacy, serenity and tranquility at the lake. Situated on over 2.36 acres with 131 waterfront feet, this compelling contemporary 10,000+ square feet residence was rebuilt to commercial standards with state-of-the-art technology, sprawling decks, 15 meter indoor pool and spa, exercise room and sport court. Lush, manicured grounds lead to a glass lakeside cabana, an additional Craftsman home, 3 docks with yacht and float plane moorage and one of the largest boathouses on Lake Washington. The perfect opportunity for privacy in the city. $ 9,880,000
CHRIS DOUCET +1 206 819 4663 CHRIS.DOUCET@SOTHEBYSREALTY.COM SEATTLESGREATESTHOMES.COM
REALOGICSSOTHEBYSREALTY.COM I 3
Gown: Ablaze. Photo: Juan Hernandez. Model: Alayna Brand.
THE COLLECTION
5 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
Staging a
Comeback
In real estate markets around the globe, optimism is returning. Cash-rich buyers who feared investing in a depreciating asset after the financial downturn of 2008 are dropping back in, confident that prices have bottomed out. iYna CaRUSo Existing-home sales are expected to rise 4 to 5% this year, according to projections by the National Association of Realtors. And Philip White, president and COO of Sotheby’s International Realty Affiliates, reports a “steady improvement in the higher end market. The $1 million-plus price market came back in the double-digit range, as did the $10 million-plus price range. Even more encouraging, 2012 has gotten off to a very good start.” The energized stock market “is a harbinger of the future for luxury real estate,” notes White, leading him, along with others, to anticipate accelerated market stabilization. Luxury real estate is outperforming other segments of the market with much of the attention focused on the ultra high end, says Jonathan Miller, president of Miller Samuel Real Estate Appraisers in New York. Markets have been buoyed by the weak dollar against foreign
currency, “so you have an influx of very wealthy individuals buying very high end real estate,” along with well-compensated senior level executives of Fortune 500 companies. uPward trendInG vaLues A number of top tier markets have not only stabilized but are trending upward. New York City is one. A recent New York Times article reports limited inventory caused by a dry spell in new construction over the last three years has fueled demand. Values of ultraluxury properties—$7 million and above—have soared. Fred Williams of Sotheby’s International Realty in Manhattan agrees. The $10-20 millionplus range is the firm’s sweet spot. In addition to new developments, a marquee inventory of pre-war townhouses and small buildings has been attracting international buyers with cash. As Williams tells customers, “They’re not making these buildings anymore. It’s like a colREALOGICSSOTHEBYSREALTY.COM I 5
THE COLLECTION
lectible item. And people perceive it as a good buying opportunity.” Elsewhere in the metropolitan area, homes in Long Island and Connecticut are also fetching strong prices. According to James Retz, of Daniel Gale Sotheby’s International Realty, which covers a region that includes “Gold Coast” properties on Long Island’s North Shore, though the number of transactions declined slightly in 2011, the average and median sales prices increased. Last year, the firm participated in the single highest residential transactions for each of the counties it covers, $15,880,000 and $12,300,000. Connecticut’s prestigious town of Greenwich kicked off the year “busier than normal,” says Joseph Barbieri of Sotheby’s International Realty. “Sellers are acknowledging new prices levels, which historically have been untouchable until the market dropped” and now understand they need to be in the market, not just on the market. The firm had 52 sales over $5 million in 2011—a spike from 36 in 2010—including a waterfront estate that sold for a record $39.5 million.
opposite page: Luberon | Sotheby’s International Realty Provencal, France • Price upon request Property ID:4000029363 • Pascal Danneau +33 (0) 4 90 72 55 00 this page: below left: Downtown Manhattan | Sotheby’s International Realty Manhattan, NY $12,950,000 USD • Property ID:0135807 • John Tenore +1 917.496.3621 below right: Hong Kong | Sotheby’s International Realty Sai Kung, Hong Kong $3,219,782 USD • Property ID:4000026585 • Teresa Chu + 852 3108 2118 bottom: Aspen Snowmass | Sotheby’s International Realty Aspen, Colorado $17,950,000 USD • Property ID:4323355 • Maureen Stapleton +1 970.925.6060
MarKet turnaround In a turnaround that has surprised even some insiders, Miami, Fla., is witnessing a “great recovery in the luxury market,” says Mayi de la Vega, of ONE Sotheby’s International Realty. HousingWire. com reports that transactions in the upper echelons are showing double-digit increases. Especially hot is the section of South Beach known as “South of Fifth,” where some properties have enjoyed a 40% price boost from a year ago and some condominiums are commanding $2,000 a square foot. There’s “excitement” on the west coast of Florida, too. “Our brokers are busier than they’ve been in the last five years,” says Judy Green of Premier Sotheby’s International Realty. Canada is a feeder market and more investors from Toronto are coming to buy. Beyond U.S. borders, the Cayman Islands are experiencing a surge in luxury market activity, according to Sheena Conolly of Cayman Islands Sotheby’s International Realty. The islands are recognized for their quality-of-life conditions and financial incentives and, more recently, as an economic zone for business. There are no income, property, capital gains or inheritance taxes—a draw for high net worth investors. Foreign ownership is encouraged. doubLe-dIGIt Grow th Out West in Aspen, Colo., home sales are trending slightly better than they’ve been for the last few years. Craig Morris of Aspen Snowmass Sotheby’s International Realty said his firm had a 25% increase in the number of transactions and 22 sales above $10 million in 2011, a record. Meanwhile, the luxury market in Hawaii is gaining steam. Mary Worrall of Mary Worrall Sotheby’s International Realty predicts it “will be a transition year from a bad market to a good market. The competitive mortgage interest rates have created such tremendous opportunity.” continued >
strenGth In nuMbers 2011 was a record-setting year for luxury real estate with markets reporting gains in eight-figure sales transactions. The most expensive home sold last year in the U.S. was a California Chateau-style estate that closed for $100 million. A London penthouse set a worldwide record at $221 million.
5 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
Staging a ComebaCk
cont.
Investor rebound In Canada, the country’s three largest luxury markets, Vancouver, Montreal and Toronto are “extremely strong and have been for the past five years,” reports Ross McCredie of Sotheby’s International Realty Canada. At least half of the $4 million-plus homes across Canada are selling to foreign buyers. Canada is easy to navigate in terms of immigration, trade and banking. Homes in Vancouver priced in the $4-5 million range typically sell within a month, McCredie says. Bilingual Montréal offers easy connections to North America and Europe and is low cost compared to other major cities. Buyers in Toronto, like other Canadian cities, are attracted to its stability and solid infrastructure. Overseas in Sweden, the state-run mortgage institute SBAB predicts higher demand based on a survey of 220 real estate agents. “Sweden is one of the countries that has been handling the unstable financial situation the best.” says Johan Lefèvre of Sweden Sotheby’s International Realty. He says the year has gotten off to a good start with a positive trend in foreign investment. The Öresund region that connects Malmö, Sweden, with Copenhagen, Denmark, “could very well be the next place to invest thanks to the strategic location, proximity and easy reach to the rest of Europe.” The French luxury market has largely shown steady growth, developing into a blue chip investment on the international property scene, says Alexander Kraft of Sotheby’s International Realty France–Monaco. “Paris,” says Kraft, “is still less expensive than other global centers such as London, Hong Kong or Manhattan.” Stockmarketreview.com reports wealthy foreigners consider Parisian real estate as the safest of investments. Other red-hot spots are Biarritz, Cannes, Deauville and Aix-en-Provence. Future Grow th Investors in Turkey are being more selective these days, taking their time before making offers, says Arman Özver of Turkey Sotheby’s International Realty, but cities like Istanbul, Ankara, Izmir, Antalya and Bursa have gained value. Waterfront mansions can garner more than $20,000 per square meter, comparable to London, Paris and Milan. Istanbul’s hybrid EuropeanAsian culture appeals to cash-rich investors hailing from the new centers of global wealth in the Middle East, Russia and Asia. Another reason for anticipated growth is a newly enacted reciprocity law enabling investors from Russia, Azerbaijan, Turkic Republics and Middle Eastern
Top left: Daniel Gale | Sotheby’s International Realty Cold Spring Harbor, NY • $6,500,000 USD Property ID:2423249 • Margy Hargraves +1 513.384.4011
countries to buy properties, a right Europeans already enjoy. InHongKong,therealestatemarketslowed down drastically in 2011 due to government intervention, says Samson Law of Hong Kong Sotheby’s International Realty, but land scarcity coupled with a long-term supply shortage bodes well for appreciation. Wealthy Hong Kongers tend to keep multiple apartments as investments, and purchases by wealthy Mainland Chinese, which accounted for 30% of market share for new developments in the last two years, contribute to the inventory shortage. Looking ahead, Hong Kong’s robust economy and low unemployment make Law “cautiously optimistic.” Cautious optimism is how many are viewing the luxury market these days. “Market evidence seems to suggest you are seeing the very high end of these housing markets attracting more interest than they did a few years ago,” says appraisal expert Miller. While some regions are still in wait-and-see recovery mode, others are benefiting from a growing investor belief that prices have hit bottom. For these buyers, signs tell them it’s a pivotal time to get back into the market.
Power oF the overseas buyers The international market for U.S. residential property approaches $82 billion annually, according to the National Association of Realtors’ report, “Profile of International Home Buyer Activity 2011.” Value pricing, long-term appreciation prospects and the opportunity to acquire trophy homes are among the incentives.
Below right: Turkey | Sotheby’s International Realty Tarabya Turkey • $19,320,453 USD Property ID:4000025661 • Edi Turan + 90 (530) 280 99 46
REALOGICSSOTHEBYSREALTY.COM I 7
THE COLLECTION
EVOLVING
to your favorite seattle neighborhoods The Stroupe Group is known for their stellar success in urban communities within the city. They measure success not by another closed transaction, but by helping clients evolve into a new home and neighborhood. A passion to understand client’s needs and a commitment to deliver results beyond expectations motivates the team to be exceptional. They specialize in knowing each market dynamics and offer trusted insights vital for making sound investments in a changing market environment while being sensitive to their evolving lifestyles. The Stroupe Group’s intimate knowledge of Seattle’s neighborhoods coupled with their innovated marketing, research and honest negotiation offer an advantage to matching clients with their best new home solutions.
Lake Washington Queen Anne Downtown Seattle Madison Park Montlake Laurelhurst West Seattle Capitol Hill Magnolia Leschi Ballard Phinney Ridge Fremont Green Lake Wallingford
Buying or selling, the Stroupe Group will unlock opportunities to your next move. Evolve today.
stroupe group’s success
CONCORD | 9 SOLD
ENSO | 8 SOLD
1521 | 7 SOLD
OLIVE 8 | 12 SOLD
NEWMARK | 7 SOLD
THE VINE | 10 SOLD
8 I REALOGICSSOTHEBYSREALTY.COM
A S S O C I AT E P R O F I L E
where do you want to live? unlock the possibilities
The Stroupe Group is the leading downtown real estate team with well over $100,000,000 in sales. Specializing in the in-city marketplace, the group offers the public an extraordinary breadth of knowledge surpassed by none. Led by founder, James H. Stroupe, and partner Julie Roh, this team of dedicated experts with over 20 years of combined residential real estate experience is consistently ranked as downtown Seattle’s Top Producers. The collective team has sold more in-city condominiums than any other resale broker.
MAKING SEATTLE REAL ESTATE OUR BUSINESS SINCE 1994
find your key stroupe.com
JAMES STROUPE +1 206 910 5000 JAMES@STROUPE.COM JULIE ROH +1 206 354 1030 JULIE@STROUPE.COM REALOGICSSOTHEBYSREALTY.COM I 9
listing portfolio moira e. holley
CLASSICISM WITH A MODERN TWIST
ONE PACIFIC TOWER
BROADMOOR ESTATE
Exquisite Denny Blaine residence combines vintage character with crisp modern design. Situated on a half acre in one of Seattle’s most historic neighborhoods.
Penthouse quality with nearly 2,000 sq.ft of opulent living, spectacular Puget Sound, Olympic Mountain, downtown and waterfront views, coupled with exquisite modern design and detail.
1930’s French style estate, renovated in 2008 with the finest materials & craftsmanship. Unique opportunity to own one of Seattle’s landmark estates.
$7,200,000 | SEATTLE, WA
$1,795,000 | SEATTLE, WA
$4,995,000 | SEATTLE, WA
ARCHITECTURALLY DESIGNED ESTATE
A LIVING WORK OF ART BY TOM KUNDIG
PERCHED ON A PRIVATE POINT
Fronting on 835’ of low-bank waterfront with white sand beaches, this gated estate captures spectacular views of the Seattle skyline, the Cascades, Mt. Baker and the Olympics
Dramatic spaces illuminated by skylights and walls of glass evoke the International Style in this sculptural residence that connects seamlessly with its natural surroundings.
Exceptional attention to detail will inspire the most discriminating buyer. Sited on a private point with over 500 ft of waterfront, this is a rare opportunity to acquire a truly unique haven.
$6,895,000 | BAINBRIDGE ISLAND, WA
$2,000,000 | SEATTLE, WA
$6,500,000 | SAN JUAN ISLAND, WA
MODERN MASTERPIECE IN MAGNOLIA
1521 SECOND AVENUE
POINT WHITE
Meticulous studs out remodel of a classic midcentury home, by Prentiss Architects, compliments its original low-slung modern lines with a postmodern aesthetic. Welcome views of Elliott Bay, Olympic Mountains & surrounding gardens.
Fabulous unit captures floor-to-ceiling views of Elliott Bay, Olympics, and the new Ferris wheel. One-of-a-kind opportunity includes work studio, storage, 3 parking and walk-in wine locker.
This stunning home is expertly sited on 162 ft of South-facing waterfront, designed to hug it’s island terrain, the house exemplifies Northwest Modern style.
$1,750,000 | SEATTLE, WA
$2,500,000 | BAINBRIDGE ISLAND, WA
$1,695,000 | SEATTLE, WA
10 I REALOGICSSOTHEBYSREALTY.COM
MOIRA E. HOLLEY + 1 206 660 4787 MOIRA.HOLLEY@SOTHEBYSREALTY.COM MOIRAONLINE.COM
A S S O C I AT E P R O F I L E
MOIRA E. HOLLEY DISCERNING. DEDICATED. SUCCESSFUL.
R
anked among the top 1% of the Northwest’s most successful luxury real-estate specialists, Moira is a “Top Producer,” within the firm. She is consistently rated #1 by Trendgraphix, the industry’s leading sales tracking authority.
Startup success stories, Fortune 50 executives and discerning city professionals rely on Moira’s knowledge, tenacity and advice when they select the country retreat, waterfront estate, in-city house, condominium or loft providing them with the perfect Northwest abode. Clients frequently ask for Moira’s insights about the challenges and opportunities of investing in today’s dynamic real estate market. Regarded by local and national media as an expert on trends within the luxury real-estate sector, Moira has generated national media coverage for many of her clients in premier luxury lifestyle and real estate publications.
MOIRA E. HOLLEY + 1 206 660 4787 MOIRA.HOLLEY@SOTHEBYSREALTY.COM MOIRAONLINE.COM
Moira’s singular and exceptional knowledge of specialized properties has created thousands of successful outcomes for both buyers and sellers of luxury residences. For Moira and her clients, Northwest Living means having the opportunity to embrace your spontaneity and expressing it—at any moment, any day, anytime.
LD
LD
SO
LD
SO
SO
WEST HIGHLAND DRIVE
MADISON TOWER PENTHOUSE
CAPITOL HILL COLONIAL
SOLD $3,175,000 | SEATTLE, WA
SOLD $4,000,000 | SEATTLE, WA
SOLD $1,980,000 | SEATTLE, WA
REALOGICSSOTHEBYSREALTY.COM I 11
A S S O C I AT E P R O F I L E
SCOTT WASNER
S
PACIFIC NORTHWEST LUXURY DEFINED
cott Wasner is a Residential Real Estate Broker and Founding Director with Realogics Sotheby’s International Realty, based in downtown Seattle. Scott’s real estate career has been founded from 20+ years of exceptional customer service, project management, marketing, and sales negotiation skills. In addition to Scott’s Director role within Realogics Sotheby’s International Realty he also served as the Director of Private Residences at the Four Seasons Hotel Seattle, where he oversaw the $40 million marketing & sales pro forma and the remaining inventory of homes including one of his notable transactions ranked as the largest condominium sale in the Greater Seattle area. Prior to launching his career in real estate, Scott held senior-level positions in sales and marketing management within the high-end sector of the travel industry; which allowed him to travel extensively throughout more than 37 countries. A passion for luxury lifestyle and international business has recently led Scott to launch The Luxury Network Washington; a division of The Luxury Network International an exclusive luxury group of premium world-class brands that represent the “next generation of marketing for luxury brands”.
SCOTT WASNER + 1 206 910 1410 SCOTT.WASNER@SOTHEBYSREALTY.COM LUXELIVINGNW.COM
Scott is an active supporter of various social and business committees and memberships within the Washington Athletic Club, Rainier Club, Museum of Flight, Seattle Art Museum and Evergreen Golden Retriever Rescue. He resides in Seattle with his wife and their two Golden Retrievers.
5 TH AND MADISON, PENTHOUSE SOLD $1,325,000 | SEATTLE, WA
LD
SO
LAKE UNION FLOATING HOME LEASE $7,500 | SEATTLE, WA
D
E AS
LE
FOUR SEASONS RESIDENCES LEASED $8,500 | SEATTLE, WA REALOGICSSOTHEBYSREALTY.COM I 13
M A R K E T WAT C H
Central Puget Sound
market watch report Profiles: SEATTLE METRO
| DOWNTOWN SEATTLE | EASTSIDE | BAINBRIDGE ISLAND | WATERFRONT
W
jhat a difference a year makes. Puget Sound real estate observed a positive shift during the first half of 2012 compared with the same period in 2011. And that momentum is carried into the third quarter 2012. Inventory levels are clearly dwindling and sales volumes are rising in virtually every neighborhood from sea to sky. For the Greater Seattle / Bellevue / Bainbridge Island statistical area, new listings have dropped by an average of 14% year over year while both pending and closed sales have increased by 15% accordingly. The number of homes for sale has declined a third with the total months of supply now hovering around six months (at current supply and absorption rates). Our brokers report this balanced marketplace finds buyers and sellers on an equal footing in most markets albeit at reset prices. This is our “new normal”. But an imbalance of supply and demand tips in favor of sellers within the urban markets close to job centers, along key arterials and within transit-oriented developments. Median home prices in the city are finally beginning to rise and buyers are feeling a greater sense of urgency to own vs. rent. That combined with a dearth of new construction deliveries has sparked the next development cycle, most notably in downtown Seattle. This may be the anatomy of our housing recovery and the trend is expected to radiate outward as the Great Recession recedes. Buyers and sellers have simply learned how to find the market – together. Between 2008 and 2011 our industry was in part affected by emotionally “over-correcting” homebuyers sitting on the fence and “unrealistic” sellers creating a self-fulfilling prophecy about a declining housing market. By 2012 the divide over values narrowed and there was greater accord on the trajectory of the marketplace resulting in sales. It helps too that the shellshock of distressed real estate has diminished considerably. Bank-owned real estate (REO) and short sales were once half of the sales volume in many neighborhoods. Nowadays this segment represents just 8-12% of the marketplace overall so with fewer supply surprises, the market is more logical and can heal. The consensus at Realogics Sotheby’s International Realty is that
14 I REALOGICSSOTHEBYSREALTY.COM
‘‘
After four years of market turbulence we’re glad to see logic has finally replaced fear in most consumers.
‘‘
Realogics Sotheby’s International Realty studies the trends affecting our regional housing market – read the entire report online at RealogicsSothebysRealty.com. we’ve moved past the “must sell” phase of this recovery. In fact, rising demand and the stabilization of home prices has many would-be sellers holding back inventory in anticipation of further price recovery. Other sellers simply price that expectation in and are increasingly finding success. To be sure, the S&P / Case-Shiller Home Price Index suggests median home prices of resale homes in the tri-county area reversed its downward trend rising for the fourth straight month (as of June 2012) after seven months of declines prior. And the Northwest Multiple Listing Service says that King County is experiencing “our best housing market in five years”. In August, median home values increased 8% year over year (the fifth straight month of improvement), according to their latest report, with sales volume up 21% year over year.
M A R K E T WAT C H
YEAR-OVER-YEAR LISTING ACTIVITY IN CENTRAL PUGET SOUND REGION 9000 7673
8000 7000 6000 5000
4960
4000 3000
2264
2621
2000
1764
1604
1547
1357
1000
0 Avg. Total Listings / Mo.
Avg. New Listings / Mo.
2012 Jan. - Aug. Listing Activity
Avg. Pending Sales / Mo.
Avg. Closed Sales / Mo.
2011 Jan. - Aug. Listing Activity
BUYERS RETURN - The greater Seattle statistical area exhibited an 18% improvement in closed sales year-over-year as of August 2012 while the trend for fewer new listings and a third fewer homes to choose from is helping to shore up median home prices. Fewer distressed sales (bank-owned and short sales) is adding much needed confidence back into the marketplace.
DOW JONES INDUSTRIAL AVERAGE VS. CONSUMER CONFIDENCE INDEX 75
14,000 13,600
70
13,200
65
12,800
60
12,400 12,000
55
Dow Jones Average
Consumer Confidence Index
MIXED MESSAGES – There appears to be increasing confidence on Wall Street but increasing concerns on Main Street – perhaps this dynamic will continue until there’s greater alignment between the business leaders and the consumer body (a prime topic in the upcoming Presidential elections).
S&P/CASE-SHILLER HOUSING INDEX
250 200
S
till the question lingers – is this a sustained rally in the making or just a summer sales surge reacting to rather anemic inventory? Much depends on the headlines given that consumer confidence has been so critical to our economic recovery. The Dow Jones Industrial Average and The Conference Board Consumer Confidence Index have been volatile in recent months (thankfully real estate is a local business). Washington State has regained more than half of the 205,000 jobs lost during the recession (in part due to local economic engines like Boeing and Amazon to name just a few expanding companies). The demand pool is also expanding – relocation buyers, property investors and second home ownership are all on the rise. After four years of market turbulence we’re glad to see logic has finally replaced fear in most consumers. Timing the market now may have more to do with securing preferred selection and locking in record low interest rates than assuming home prices will continue to correct. That said a lack of inventory will most likely slow down sales. And all eyes are fixed on the presidential election and potential volatility in the markets to follow.
150 100 50 0
Warm Regards,
Seattle
Composite-10
Composite-20
STABILIZATION NATION – The most recent index results suggest that the US housing market is recovering with rising median home prices in many major metro areas. Seattle comprises King, Pierce and Snohomish Counties and reflects resale activity but doesn’t consider condominiums or new construction of any type.
Dean Jones, Owner & CEO Realogics Sotheby’s International Realty
Information Sources: S&P/Case-Shiller, NWMLS, Trendgraphix, Consumer Confidence Index, Realogics, Inc. While information is believed true, no guarantee is made for accuracy.
REALOGICSSOTHEBYSREALTY.COM I 15
SEAN NIELSEN
A
ECO-LUXURY ON THE FAIRWAYS AND IN THE CITY
passion for people and a commitment to professionalism has earned Sean a high level of respect from clients and peers – he is known for his high standards. His drive for providing top-notch customer service is right in step with his dedicated work ethic which he learned as a golf professional. Sean established a reputation for unparalleled customer service and dedication while working as a golf instructor at some of the Northwest’s premier country clubs. And as one of the only ecoluxury brokers in the Northwest, Sean is passionate about creating a positive, sustainable and ultimately successful result for our global environment, one client at a time.
$1,195,000 | NEWCASTLE, WA
SOLD $725,000 | SEATTLE, WA
LD
SO
SEAN NIELSEN + 1 206 909 0622 SEAN.NIELSEN@SOTHEBYSREALTY.COM URBANSEAN.COM
C
CASSIE DAUGHTREY TREATING EVERY CLIENT LIKE FAMILY
assie is a widely respected real estate residential broker for her reliability, honesty, integrity, and “grace under fire” attitude. She has a passion for in-city real estate that is contagious. Cassie has a broad understanding of the diverse local neighborhoods and of the greater Seattle area. She is dedicated to offering unparalleled customer service and professionalism with a genuine desire to help people find the right home of their dreams. Cassie’s motto in life and real estate is, “do whatever it takes.” Her positive approach generates the “right” results for every transaction.
LD
SO
CASSIE DAUGHTREY + 1 206 403 8548 CASSIE.DAUGHTREY@SOTHEBYSREALTY.COM SAVVYSEATTLE.COM
SOLD $1,825,000 | SEATTLE, WA 16 I REALOGICSSOTHEBYSREALTY.COM
$399,995 | SEATTLE, WA
G
INTERIOR DESIGN
CUSTOM FURNITURE
LIGHTING
GARRET CORD WERNER
ARCHITECTURE
Our design achieves functionality and understated elegance by approaching design through a sophisticated lens of dynamic spatial awareness. An outside-in philosophy, harmonizing the architecture and interior design of a building is what allows our design to become more than superfluous elements within.
www.garretcordwerner.com
3132 Western Ave Seattle, WA 98121
206.749.9019
A S S O C I AT E P R O F I L E
T
CONNIE BLUMENTHAL
HE FINEST IN NORTHWEST LIVING
Connie Blumenthal epitomizes the true Connoisseur of Life. She is passionately involved in the arts, entertainment and social events where she has earned much deserved respect for her generosity and enthusiastic approach to every venture she commits to. Connie combines her passion for living well with her dedication to residential real estate. She is a top performing broker specializing in the luxury real estate market and represents a diverse range of buyers and sellers of waterfront estates, one-of-a-kind homes, and in-city penthouses. She consistently exceeds her client’s expectations with her commitment to creating success and the many unique marketing platforms she has to offer. Connie is often cited by the local media on the luxury real estate market and has been published in the Puget Sound Business Journal and The Seattle Times.
CONNIE BLUMENTHAL + 1 206 579 9739 CONNIE.BLUMENTHAL@SOTHEBYSREALTY.COM SPOTLIGHTSEATTLE.COM
Refined. Cultured. Exclusively Northwest. SPOTLIGHTseattle.com is Seattle’s Premier Luxury Living site showcasing our unique Northwest lifestyle. Our exclusive collection of distinguished contributors allows you inside access to NW living like never before. From Fine Dining, Travel, Luxury Real Estate, Philanthropy, Gala Events – and more, we cover the best our area has to offer. Your resource for premier Northwest news and events.
18 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
FINDING A PERFECT FIT
FOR YOU, YOUR LIFESTYLE OR DESTINATION PROPERTY
NORTHWEST LIFESTYLE
TROPICAL VACATIONS
SECOND HOME SUNSETS
SUNSHINE INVESTMENTS
ARTFULLY UNITING EXTRAORDINARY PROPERTIES WITH EXTRAORDINARY LIVES
RETIREMENT RETREATS
Contact Connie Blumenthal to find your extraordinary home +1 206 579 9739
CONNIE@CONNIEBLUMENTHAL.COM CONNIEBLUMENTHAL.COM
REALOGICSSOTHEBYSREALTY.COM I 19
THE COLLECTION
Meet the Team Geoff Graeff | Shannon Peterson M. Brandon Ehrlich | Nicole Barrat Terri Gatts Dayton
1700 Westlake Ave North, Suite #600 | Seattle, WA 98109 Apply Online at www.BrandoneLoans.com
In the mortgage business for over 90 years, HomeStreet provides its customers with a level of stability and continuity rare in today’s banking world. We’ve always stayed focused on what we believe is most important: building long-term relationships with our customers and providing ongoing support to our communities. HomeStreet has consistently been recognized by the federal government as “Outstanding” under the Community Reinvestment Act. Our customers soon discover that we take the time to get to
know them and their lending needs—and we’ll go the extra mile for them. We offer experience, flexibility and a willingness to be innovative. Our specialties include: •New Construction Financing •Jumbo Loans – available with as little as 10% down •Portfolio financing
Call today to learn how I can help you with your home financing needs. M. Brandon Ehrlich 206 251 5019 | Terri Gatts Dayton 206 372 8537 Brandon.Ehrlich@HomeStreet.com NMLS# 583001
Terri.Dayton@HomeStreet.com NMLS# 582990
All loans subject to approval. ©2012 HomeStreet, Inc. All Rights Reserved. Inc. 20 I REALOGICSSOTHEBYSREALTY.COM
The views will go on forever but this opportunity won’t.
FLOOR 8-29 Scale: 1/4” = 1’-0”
EVENT
TOP
UNIT C
UNIT B
NOW 93% SOLD - JUST TEN HOMES REMAIN
N
High above The Pike Place Market, Fifteen Twenty-One Second Avenue affords residents protected water views and immediate proximity to downtown Seattle’s new waterfront park.
UNIT D
UNIT A UNIT E
Discover gracious living spaces, the epitome of design and established market pricing. PLAN A
SQ.FT. 1,854
PRICED FROM
AVAILABILITY
1521 2ND AVENUE I SEATTLE WA 98101
B
1,968
$1,830,000
One Left
C
1,734
$1,565,000
Now 85% Sold
206.443.1521 I FifteenTwentyOne.com
D
1,644
$1,875,000
Last Opportunity
E
1,723
$1,670,000
Final Home
MODEL HOMES OPEN DAILY (11AM-6PM) BY APPT.
$1,900,000
Two Remain
Glimpse into the future at
WaterfrontSeattle.org
E MOR N THA
9S3OL%D
Seller reserves the right to change the product offering without notice. Each office is independent;ly owned and operated.
F E AT U R E D P R O P E R T I E S
FIFTEEN TWENTY-ONE SECOND AVENUE
AWARD-WINNING CONDOMINIUMS NEARLY SOLD
O
ne of the most successful condominium developments to grace the West Coast is quickly approaching its latest (and perhaps its greatest) accomplishment yet – selling out. Fifteen Twenty-One Second Avenue, an awardwinning, 143-unit high-rise community adjacent to The Pike Place Market has fewer than ten new homes remaining for sale. “I suppose all good things must come to an end,” said Sandy Justen, a Community Sales Representative with Realogics Sotheby’s International Realty and a homeowner in the tower. “But for those that are ready to make a move we still offer a select number of homes plans to choose from.” With half of the floor plans already sold out, just one home remains in the popular B and D plans, which are 1,968-sq. ft. and 1,644-sq. ft., respectively. These homes range in price from $1,670,000 to $1,830,000. And there are several A and C plans remaining, which are 1,824-sq. ft. and 1,734-sq. ft., respectively and are offered from $1,565,000 to nearly $2,000,000. The average purchase price in the building is approximately $1,800,000, according to public records, which is remarkable for a building with a 143 residences. Beyond pricing, Sandy highlights several other attributes that separates this first-of-its-kind tower from its peers. Firstly, the building was designed so that every residence was of penthouse scale and quality. Every home is at least a two bedroom and boasts an average square footage of nearly 2,000 square feet with unparalleled interior design specifications. Secondly, residents enjoy a perpetual view easement to the west ensuring that vistas of Elliott Bay are preserved forever. In fact with just three to five
22 I REALOGICSSOTHEBYSREALTY.COM
OUT
homes per floor and by virtue of a creatively faceted floor plate, this tower affords every owner a water view – even from the east side of the building. Thirdly, the community is enviably located between Pike and Pine streets on 2nd Avenue just a few steps from the Pike Place Market and countless urban amenities. There are still more physical attributes that define Fifteen Twenty-One Second Avenue but other, less tangible considerations may offer even greater value. “The sense of community here is palpable – I can’t tell you how many new friendships have flourished in this building”, adds Sandy. “It’s amazing what happens when you assemble several hundred likeminded people together.” Savvy homebuyers aren’t the only ones drawn to Fifteen Twenty-One Second Avenue. Industry peers and national judges have also recognized its excellence in design, development and sales performance. Accordingly, the community was voted the “West Coast’s Outstanding High-Rise” at the Gold Nugget Awards during the Pacific Coast Builder’s Conference in 2009. And that same year it was also the “Project of the Year”
All homes offer expansive floor-to-ceiling walls of glass revealing protected views of Elliott Bay.
F E AT U R E D P R O P E R T I E S
MOST NOTABLE MARKET FINDINGS
CHANGES IN THE NEIGHBORHOOD
10.
10.
Next Development Cycle is Mostly Rental
9. 8.
Downtown Real Estate is a Microclimate
7. 6. 5. 4. 3. 2. 1.
Renting is Not Always Cheaper than Owning
High Job Growth & Expanding Housing Demand
Condominium Demographics are Diversifying New Listings / Active Listings in Steep Decline Indicators Suggest the Market Bottom Passed Median Home Prices are Rising Again 5 Year Supply Dearth will Cause Seller’s Market “Flight to Quality” Occurring at Preferred Properties
according to the Multifamily Executive Awards, the “Multifamily High-Rise of the Year” per NAIOP the was even awarded the regional winner of the “Attached Community of the Year” at The Nationals – a competition of high profile developments sponsored by the National Association of Home Builders. Beyond awards, Fifteen Twenty-One Second Avenue is significant because it is the archetype of the City of Seattle’s new “tall and skinny” building code and it’s the first residential high-rise in Seattle to receive a LEED™ (Leadership in Energy and Environmental Design) “Silver” certification for its sustainable development practices.
Seattle’s Great Wheel
9. 8.
New Retailers (i.e. City Target)
7. 6. 5. 4. 3. 2. 1.
$80M Rehab of Pike Place Market
New Historic Theater District
DSA Focus on Pike/Pine Corridor New Apartment Towers (Rental) Improved Streetscape on 2nd Avenue Proposal for Eitel Building (2nd & Pike) Amazon.com Downtown Campus Seattle Central Waterfront Park
facing and penthouse properties throughout downtown Seattle,” said Dean Jones, the President and CEO of the real estate firm. “A lack of supply for preferred properties is pushing the market pendulum in favor of sellers and is nudging buyers off the fence.” Since January 2012, there have been nearly two dozen sales (both closed and pending) at Fifteen Twenty-One Second Avenue representing in excess of $40 million in recent real estate transactions.
Existing and prospective homeowners convened recently to celebrate the success of Fifteen Twenty-One Second Avenue during the aptly named “Top 10 Event”. In addition to home tours of the ten remaining residences the hosts presented a countdown of the top ten most exciting changes taking place in the immediate neighborhood and the top ten most notable market findings concerning in-city condominiums. Photos and a slide show of the presentations can be found on the Market Watch blog at RealogicsSothebysRealty.com. Among the most exciting changes to the neighborhood is the new waterfront park being planned in the place of the Alaskan Way Viaduct. Presenter William Justen outlined the activities taking shape to bring a world-class waterfront to Seattle, which will rival that of Vancouver, B.C., San Francisco and San Diego. “The new waterfront is a game changer for downtown Seattle,” said William. “Having lived in downtown Seattle for more than three decades I can say with confidence that the next five years will be the most transformative ever. And we enjoy a front row seat here at Fifteen Twenty-One Second Avenue.” The number one most notable finding about the in-city housing market is the fact there’s effectively no supply to address the rising demand. According to recent research by Realogics Sotheby’s International Realty there are fewer than 120 new construction homes remaining in the center city and given the dearth of new construction since the global credit crunch, there are no new prospects for condominium deliveries until at least 2015. “The flight to quality is clearly evidenced by a recent run on west
SEATTLE’S NEW WATERFRONT - Fifteen Twenty-One Second Avenue stands front and center of the world-class transformation of the Seattle waterfront. Visit www.SeattleWaterfront.org
REALOGICSSOTHEBYSREALTY.COM I 23
THE COLLECTION
62 I REALOGICSSOTHEBYSREALTY.COM
YES, tHE GRASS IS GREENER.
PINE ST
3rd Ave
PIKE ST
UNION ST
Seattle’s First LEED™ Silver Certified Hotel/Condominium Seattle’s First LEED™ Silver Certified Hotel/Condominium
Only Olive 8 offers an enviable in-city location, inspired northwest
Ydesigns, E S , a comprehensive T H E G Ramenities A S S package I S GandRexpansive E E N Eviews R .all within a sustainably—built community. Better yet market prices, Only Oliveand 8 offers an enviable in-cityon location, designs, a HOA preferred pricing hotel inspired servicesnorthwest means that your alifestyle comprehensive amenities package and expansive views all within a investment is as good for you as it is for the environment. sustainable—built community. Better yet validated market prices, an established HOA and preferred pricing on hotel services means that your lifestyle investment is as good for you as it is for the environment.
THE PENTHOuSES Level 39
SOLD OUT! THE PENTHOUSES Level 39
To Belltown
ART STEW
MACY’S
ST
SOLD OUT!
4th Ave
5th Ave
PINE ST
WESTLAKE CENTER PIKE ST
UNION ST
4th Ave
SHOPS & RESTAURANTS 5th Ave
r
rail to
Mono
M
To
To S
outh
CITY CENTRE SHOPS & RESTAURANTS
ke Un
SHOPS & RESTAURANTS
OLIVE WAY
PINE ST
PIKE ST
6th Ave
PACIFIC PLACE
ST
7th Ave
Sea
h La
WE ion STL Lak AK eU EA nio VE nS tree tC ar
ART STEW
UNION ST
6th Ave
Sout
nte ttle Ce
7th Ave
WA STATE CONVENTION & TRADE CENTER
ell ST How
i-5
9th Ave
TRANSIT CENTER
MODEL MODEL 12-5 12-5 PM PM
SELLING FAST! THE SKY COLLECTION 1 BD /27-38 1 BA from $455,000 Levels 2 BD / 2 BA from $835,000 SELLING FAST! 1 BD / 1 BA from $455,000 2 BD / 2 BA from $835,000
8th Ave OLIVE WAY
8th Ave
Freeway Park
THE SKY COLLECTION Levels 27-38
hole
To W
s Food NORTH
Light Rail To Seatac Airport
HOMES HOMES OPEN OPEN DAILY DAILY OR BY APPOINTMENT OR BY APPOINTMENT
737 737 Olive Olive Way Way II Seattle, Seattle, WA WA
THE CITY HOMES Levels 18-27
SOLD OUT! THE CITY HOMES Levels 18-27 SOLD OUT!
OWNER’S LOuNGE Level 18 Media Room, Billiards Room, OWNER’S LOUNGE Catering Level 18 Kitchen, BBQ Terrace, Dog Run Media Room, Billiards Room, Catering Kitchen, BBQ Terrace, Dog Run
SEEING MORE GREEN In 2012 Building Efficiencies Resulted SEEING MORE GREEN a 15% Reduction of HOA Dues!! InIn2012 Building Efficiencies Resulted In a 15% Reduction of HOA Dues!!
THE HYATT AT OLIVE 8 Levels 1-17 Valet, LobbyAT BarOLIVE & Restaurant, THE HYATT 8 Fitness1-17 Center, Levels Lap Pool & Day Valet, Lobby Bar Spa & Restaurant, Fitness Center, Lap Pool & Day Spa
Residential sales Office : 206.382.4820 | Olive8.com HOtel ReseRvatiOns: 206.695.1234 | Olive8.Hyatt.com Residential Sales Office : 206.382.4820 | Olive8.com and related logo is a trademark owned by the U.S. Green BuildingCouncil and is used by permission. Hotel Reservations: 206.695.1234 |‘USGBC’ Olive8.Hyatt.com
Seller reserves the right to change product offering without notice. Each office is independently owned and operated.
Seller reserves the right to change product offering without notice. Each office is independently owned and operated. ‘USGBC’ and related logo is a trademark owned by the U.S. Green Building Council and is used by permission.
F E AT U R E D P R O P E R T I E S
START SPREADING
THE VIEWS
OLIVE 8 HOTEL/CONDOMINIUMS OFFERS MANHATTAN-STYLE LIVING
R
obert Roblin, an entrepreneur from New York City relocated recently to Seattle to launch his latest hightech startup. Having lived in Manhattan apartment buildings for more than 20 years he understands high-rise living and the many benefits that city life brings. But while his move to Seattle would be good for business Robert worried he’d miss the big city vibrancy, access to services and conveniences and his complete independence from his automobile. As it turns out, Robert isn’t homesick at all. “We’ve found a slice of Manhattan right here at Olive 8,” said Robert, who recently purchased a 1,586-sq. ft. two bedroom home at on the 33rd floor with his partner Nikhil Abbot. “It’s a perfect fit – no other buildings compared.” Olive 8 is ideally located in the heart of the Retail and Entertainment District at 8th and Olive Way – just steps away from world-class shopping, numerous live theaters and countless eateries and cultural venues. The tower is ideally positioned at the hub of public transportation allowing residents to walk to Central Link light rail line, the Metro Bus Tunnel, the South Lake Union Street Car and even the historic Monorail with service to Seattle Center attractions. “I do a lot of travelling so being able to get from my home to SeaTac Airport in less than 40 minutes without ever having to worry about traffic or parking is bliss,” said Robert. “And I actually prefer to ride the Metro bus to my office in downtown Bellevue. Why fret the commute? I arrive on time every day and I read a book instead getting stressed out – it works!” Robert said he discovered Olive 8 when he was out for dinner one night and was first struck by the gleaming architecture. He wasn’t surprised to learn the tower’s exterior was designed by Richard Gluckman of NYC-based Gluckman Mayner Architects (best known for his work on the Andy Warhol Museum in Pittsburgh and the Mori Museum in Tokyo).
26 I REALOGICSSOTHEBYSREALTY.COM
“I really admire his work – this landmark is authentic and stands proudly with iconic personality”, said Robert. “It’s obvious that Olive 8 was planned inside and out by those who know best. The floor plans are all so livable. Our Manhattan condo is in a converted 1907 office building with 12 feet ceilings and huge windows, so I really appreciate the 10-foot floor-to-ceiling glass walls here at Olive 8. And with refined finishes and ample storage – there are no compromises. Not to mention the hotel room service at preferred pricing – that’s the icing on the cake.” Soaring 455 feet above the city streets below, Olive 8 is comprised of 229 condominium residences atop the full service, Hyatt at Olive 8 hotel. An “in-city resort”, Olive 8 boasts luxurious amenities such as a 65-foot saline lap pool, a complete fitness center and Pilates room, a restaurant and bar (Urbane), a full service day spa (Elaia), meeting rooms and a private 18th floor amenity level for the exclusive use of residents in the building. This facility features a catering kitchen, media room, billiards room and an outdoor BBQ terrace with a dog run. Meanwhile, homeowners at Olive 8 enjoy a plethora of hotel benefits including valet parking, in-room dining, housekeeping and concierge services to name a few. “In Manhattan these types of amenities are expected but they’re really hard to find on the West Coast – perhaps it’s cost-cutting because the home values are much less expensive in Seattle,” questioned
Recently relocated from NYC, Robert Roblin and his partner Nikhil Abbot say they’ve found a slice of Manhattan in Olive 8.
F E AT U R E D P R O P E R T I E S
Robert. “But there are no cut corners at Olive 8 – the investment in design and quality materials is evident at every turn. From a New York perspective this lifestyle is a bargain.” The Hyatt at Olive 8 Hotel helps with operational efficiencies and offers a higher level of service for less cost. And the LEED™ (Leadership in Energy and Environmental Design) “Silver” certification has resulted in even lower
‘‘
It was clear that we’d arrive to this point where the inventory in downtown Seattle would run low, prices
‘‘
would stabilize and buyers step off the sidelines.
The Hyatt at Olive 8 provides services such as valet parking, housekeeping and in-room dining. At preferred rates.
DAVID THYER, PRESIDENT RC Hedreen Company and Developer of Olive 8
utility costs. As such, the 2012 budget actually reflects a 15% reduction for the HOA dues, which are now just $0.47 per foot per month and remains unmatched in the city for a building of this caliber. “We bought with confidence feeling our investment was a sure thing,” said Robert. “We’ve watched the recent sales at Olive 8 and feel that these prices are well established. And interest rates are at historic lows. I also believe in downtown Seattle. In my industry there are thousands of new jobs coming to town and that means more people to support even more retail, culture, restaurants and so on. This city will expand exponentially and I’ll watch the growth from my window perched high above it all.”
Only Olive 8 features a 65-foot saline lap pool and a complete health club with a full service day spa.
That was pretty much the same sentiment expressed by David Thyer back in early 2011. As President of RC Hedreen Company (the developer of Olive 8) he reset building prices to reflect the corrected market conditions and since then has sold more than ninety homes with just a few dozen to go. “It was clear that we’d arrive at this point where the inventory in downtown Seattle would run low, prices would stabilize and buyers would step off the sidelines,” said David. “That’s precisely what happened and we’re now experiencing an increased sense of urgency to buy while preferred pricing and selection remains available. Olive 8 is now more than 85% sold with half of the floor plans either sold out or offering just one or two homes available. One bedrooms start from the mid-$400,000s and two bedrooms are offered from the low $800,000s.
The Urbane Restaurant & Bar is open daily for breakfast, lunch and dinner plus late night socializing.
Unlike the vast difference on home prices, Robert and Nikhil point to similarities between their lifestyle in Manhattan and their new life at Olive 8. But Robert notes several unique attributes about living in downtown Seattle that he feels locals may take for granted. “I love the direct sunlight that floods our home and all the trees and green spaces in downtown Seattle,” said Robert. “If we want to go for a bike ride, hike in the mountains or float on the lake we can do that all in the same day but in Manhattan that would be a tall order. And we’re already spoiled by how nice Seattle residents are to each other!”
The Sky Collection Residences at Olive 8 feature 10’ ceilings, gracious floor plans and dramatic views.
REALOGICSSOTHEBYSREALTY.COM I 27
THE COLLECTION
PENTHOUSES
A GO-GO
A FLIGHT TO QUALITY In yet another demonstration that the in-city housing market is quickly recovering, Realogics Sotheby’s International Realty posted twenty condominium penthouses sales and luxury town homes valued above $1 million that sold since March 2012 representing more than $40 million in real estate. This spike in demand is notable because many of these multimillion dollar homes sat on the market for much of the recession but brokers suggest this luxury market segment has clearly rebounded. “Living above it all never lost its appeal but buyers were cautioned not to buy at the top of a building at the top of the market,” said Moira Holley, a Co-Founding Director with the firm and a top producing broker within the luxury condo marketplace. “Once the market stabilized savvy buyers acted like first responders resuscitating high-end condo sales and then other buyers followed suit. Now the problem is a lack of inventory – I’m working with at least two buyers right now that are prepared to make a move but there’s only a handful of finished and shell penthouses left on the marketplace.”
‘‘
Once the market stabilized savvy buyers acted like first responders resuscitating luxury condo sales and then other buyers followed suit.
‘‘
- Moira E. Holley, Co-Founding Director and Broker
Sold: Olive 8 Penthouse.
28 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
DID YOU KNOW? In January 2012 the Puget Sound Business Journal reported that their most popular online feature of 2011 was a slideshow of $1 million+ penthouses provided by Realogics Sotheby’s International Realty. All have since sold or were taken off the marketplace in anticipation of higher values ahead. COMING SOON: The Residences at Fairview.
Penthouse living has become a lot like urban waterfront – there is only so much of it. With a lack of construction in recent years it could be several more years before any new high-rise condominium towers are delivered. And while new towers may add hundreds of residences it will only add a handful of penthouses. At least one local developer sees this as an opportunity for a new product category, which unlike a high-rise can be built in phases and within a much shorter timeframe.
BOTTOM’S
2012 has proven to be pivotal for condo sales in downtown Seattle. Here’s a look at two key indicators comparing the summer 2012 (June, July & August) to the market peak during the same period in 2007.
“We’re effectively building a row of penthouses along Lake Union,” said Mike Yukevich, a partner with Seattle-based Trinity Development. “And in addition to offering a greater level of interior personalization homebuyers at The Residences at Fairview will also enjoy access to the Wards Cove Marina Club, which includes immediate access to Lake Union and moorage options for residents.”
95%
When complete The Residences at Fairview will introduce 21 fee simple attached homes ranging in size from 2,500 square feet to more than 5,100 square feet and are now being presold from $1.3 million. To learn more visit FairviewLakeUnion.com.
ADDRESS 2607 Western Ave. -#1203 1425 Western Avenue. -PH#410 506 Lakeside Ave. S. -#W2 2201 3rd Ave. -#2704 1845 16th Ave. 1519 E. Denny Way 1841 16th Ave. 2021 1st Ave. -#E18 1950 Alaskan Way -#524 1168 Harvard Ave. E -PH#8 909 5th Ave. -#2402 1185 Broadway Ave. E. - PH#7 1175 Broadway Ave. E. - PH#8 737 Olive Way -PH#3 737 Olive Way -PH#2 1521 2nd Ave. -#3802 1000 1st Ave. -#PH 737 Olive Way -PH#1 1521 2nd Ave. -#3800 1920 4th Ave -#PH3104
BUILDING The Vine Hillclimb Court The Lakeside Condominiums The Grandview The Sanctuary The Sanctuary The Sanctuary Marketplace North Waterfront Landing Harvard & Highland 5th & Madison Harvard & Highland Harvard & Highland Olive 8 Olive 8 Fifteen Twenty-One Second Avenue Madison Tower Olive 8 Fifteen Twenty-One Second Avenue Escala
AVERAGES / TOTALS
SIZE 1,354 1,285 1,950 2,812 2,946 3,463 3,515 1,919 1,888 1,790 1,950 2,363 2,363 2,317 2,224 2,778 2,850 4,315 3,000 5,100
2,609
SALES VOLUMES – 149 UNITS CLOSED IN 2012 COMPARED WITH 154 IN 2007 (THE HIGHEST SINCE THE RECESSION)
MEDIAN HOME PRICES – AT $400,000 CONDO VALUES IN 2012 RECOVERED MORE THAN HALF OF THE TOTAL MARKET CORRECTION.
SOLD PRICE $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
UP
$/SF
685,000 900,000 950,000 1,000,000 1,049,950 1,070,000 1,075,000 1,195,000 1,150,000 1,220,000 1,325,000 1,625,000 1,890,000 2,045,000 2,250,000 3,600,000 4,000,000 4,150,000 4,250,000 6,795,000
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
506 700 487 356 356 309 306 623 609 682 679 688 800 883 1,012 1,296 1,404 962 1,417 1,332
$ 42,224,950
$
770
57%
CLOSING
BROKER
REP
6/30/2012 Pending* 5/11/2012 6/29/2012 8/1/2012 8/1/2012 3/24/2012 Pending* 5/25/2012 5/9/2012 8/7/2012 3/30/2012 Pending* 6/27/2012 3/7/2012 4/27/2012 5/30/2012 5/21/2012 3/14/2012 Pending*
Chris Doucet Moira Holley Ric Dieu Moira Holley Carrie DeBuys Carrie DeBuys Carrie DeBuys Moira Holley Connie Blumenthal Melissa Camp Scott Wasner Melissa Camp Melissa Camp Julie McAvoy Julie McAvoy / Sam Cunningham Chris Rossman Moira Holley Julie McAvoy / Sam Cunningham Sandy Justen / Julie Biniasz / Chris Rossman Moira Holley
Seller Buyer Seller Seller Seller Seller Seller Seller Seller Seller / Buyer Buyer Seller Seller Seller Seller / Buyer Buyer Buyer Seller / Buyer Seller / Buyer Buyer
TOP OF THE TURN AROUND: Since the spring 2012 virtually all of the RSIR penthouse listings and several others on the market have sold representing more than $40 million in recent activity at the top of the condominium marketplace. Pending sales are recorded at their listed price, which may vary from the purchase price paid at closing. REALOGICSSOTHEBYSREALTY.COM I 29
A S S O C I AT E P R O F I L E
A DEDICATED TEAM SPECIALIZING IN NEW CONDOMINIUMS AND DISTINCTIVE HOMES
CARRIE DEBUYS CARRIE DEBUYS +1 206 551 0555 CARRIE.DEBUYS@SOTHEBYSREALTY.COM LIVEURBANSEATTLE.COM
A
RIC DIEU
RIC DIEU +1 206 618 3883 RIC.DIEU@SOTHEBYSREALTY.COM REALOGICSSOTHEBYSREALTY.COM
s a broker team we are proud to offer over 45 years of combined residential real estate experience and a truly distinctive level of service and experience for our diverse clientele. Carrie and Ric have a proven track record of success for both new construction communities and distinctive single family residences. We specialize in servicing buyers and sellers in distinctive in-city neighborhoods such as The Highlands, Madison Park, Leschi, Capitol Hill, and the Harvard-Belmont district. Throughout our career we have proudly represented some of the area’s most exceptional multi-family communities including The Sanctuary, Harvard & Highland, The Lakeside, Four Seasons Private Residences, The Bravern Residences and One Lincoln Tower. Our local experience, combined with an award-winning marketing firm and an international leading luxury brand, offers an unparalleled access to a breadth of services for our clients of all price points.
$1,890,000 | MUKILTEO, WA
$1,699,000 | MEDINA, WA
$1,295,000 | SEATTLE, WA
SOLD OUT The Sanctuary was sold out in just six short months. Since the official sales debut in January 2012, the 12-unit residential conversion of a landmark church-turned-town-home community that sits atop Capitol Hill drew hundreds of visitors and this summer sold it’s remaining home. The Sanctuary was one of Seattle’s most unique residential offerings ever to have been on the market. A once in a lifetime opportunity. LiveAtSanctuary.com
A S S O C I AT E P R O F I L E
ANTON KRIVENYSHEV
A
ANTON KRIVENYSHEV + 1 206 412 3143 ANTON.KRIVENYSHEV@SOTHEBYSREALTY.COM MOIRAONLINE.COM
Fluent in Russian
AN INTELLIGENT APPROACH TO THE NEXT GENERATION OF REAL ESTATE
nton’s passion for financial markets and real estate trends has distinguished him amongst his peers and clientele as a sought-after authority for intelligent property investments. He is an experienced negotiator and well-versed in keeping the transaction process simple for both buyers and sellers - a win / win for all. Anton prides himself on his analytical thinking with the goal of generating successful transactions for every client. Anton is a team member of top producing broker, Moira Holley who consistently ranks among the top 1% of brokers in the entire Puget Sound.
CE
EW
I PR
LD
SO
N
$549,000 | ARLINGTON, WA
SOLD : $360,000 | SEATTLE, WA
ON THE WATER
Discover The Lakeside - a boutique collection of six condominium and townhome residences perfectly positioned on the western shore of Lake Washington in the coveted lakeside neighborhood of Leschi. Enjoy inspired design, uncompromising quality and a prized waterfront lifestyle now available for immediate occupancy.
OWNERSHIP BEGINS AT $995,000 Open Daily by Appointment. Model Home Tours Available. THELAKESIDECONDOS.COM
JUST 2
HOMES REMAIN
RIC DIEU +1 206 618 3883 RIC.DIEU@SOTHEBYSREALTY.COM CARRIE DEBUYS +1 206 551 0555 CARRIE.DEBUYS@SOTHEBYSREALTY.COM REALOGICSSOTHEBYSREALTY.COM I 31
THE COLLECTION
‘‘
It may start as a trickle now but once there’s a critical mass of immigration and return on investment, the demand will become self-generating.
‘‘
TREVOR JONES, T. JONES ENTERPRISES Luxury Home Builder in Vancouver, B.C.
FOREIGN BUYERS’ DESIRES SEATTLE IS KNOWN FOR ITS CULTURAL DIVERSITY AND GLOBAL ECONOMIC STATUS BUT WILL DEMAND FROM ASIAN HOMEBUYERS – PREDOMINATELY CHINESE – EVER MATCH THE DRAW OF VANCOUVER, B.C., JUST 150 MILES NORTH?
S
eattle and its neighbor Vancouver, B.C. may well be siblings – they are similar in terms of geography, natural environment, cultural diversity, renowned universities and a reputation for healthy, high-quality lifestyles. Still, the historic preference of foreign buyers – particularly from China – is for Vancouver for investment and immigration. Following a 25-year run-up in property values, Vancouver prices now compare more closely to Manhattan, London or Hong Kong than to Seattle. But, that may be changing as Vancouver’s super-heated housing market, like China’s, exhibits signs of cooling. Meanwhile, Seattle real estate is warming up – in part because of foreign buyers that are eyeing bargains south of the border. “The relative affordability of Seattle compared to Vancouver is drawing greater interest from abroad,” says Jessica Xu, a Beijing-born broker with Realogics Sotheby’s International Realty and a specialist on foreign investments. “Seattle home prices corrected since the U.S. housing crisis began in 2008 while property values in Vancouver continued to inflate to new heights. At some point, it’s not just a concern about future capital appreciation, but what your money can buy – a reality that’s exacerbated at the top end of the market.” Trevor Jones of Vancouver-based T. Jones Enterprises agrees. As a prominent homebuilder throughout the affluent west side of Vancouver, he says demand for new, luxury homes in prestigious neighborhoods like Shaughnessy has come exclusively from Chinese buyers. And the lofty home prices, which can fetch more than $15 million, are equally dependent on immigrants from the Far East. “We build a home and it sells, and before long we’re building another one for a friend, a business associate or a family member who is also relocating from China,” said Jones. “Canada’s favorable immigration
32 I REALOGICSSOTHEBYSREALTY.COM
WELL POSITIONED - Luxury homebuilders like Trevor Jones in Vancouver, B.C. have enjoyed a meteoric rise in demand for high-end homes – primarily from immigrating Chinese buyers – since the 1990’s.
policies are certainly the catalyst, but so too are the personal endorsements of those who already live here. These are largely discretional investments – so it’s natural if some buyers develop a wandering eye. Vancouver isn’t the only gateway.” Foreign investors have focused on high-profile, international markets like New York City, Miami and Los Angeles for years. And despite the global economic concerns, a herd of recent sales have set new price records, spilling excess demand into secondary markets.
FOREIGN INVESTMENT
Royce Pinkwater, Founder and Chair of the Global Partnership, and a broker at Sotheby’s International Realty in Manhattan states, “I observed that global streams of wealth from countries like China, were recognizing prime property in key markets was a new asset class and a safe harbor for investment. So, I formed a team of the finest real estate professionals in select global markets who work together to source and transact the best opportunities for investment in these markets. Seattle is becoming an increasingly important market for Chinese buyers and as our Global Partner; Realogics Sotheby’s International Realty is well positioned to benefit from an upswing in international referrals.” For its part, the Seattle metro area exhibited four consecutive monthly increases of median home prices as of June 2012 according to the S&P/Case-Shiller Home Price Index – a reversal of declines that shaved a third of the region’s home values since peaking in July 2007. The Office of Financial Management says there was a net migration increase of 14,000 residents to Washington state year-over-year in 2012 after five years of dwindling gains. Xu isn’t surprised as local employment drivers like Microsoft, Boeing and Amazon continue to attract interstate and international talent to the area. “Some foreigners will relocate to Seattle on the EB-5 investment visa and many others are on L-1A and H1-B employment visas” adds Xu. “But perhaps the most influential trend will be the students because those visas are in high demand and they are more easily attained. The University of Washington states about twenty percent of their freshman class is from a foreign country, half from China.” The Hurun Research Institute (the Chinese Forbes) reports 85 percent of mainland Chinese millionaires plan to send their kids overseas before or during high school. That bodes well for the U.S. considering 36 of the top 50 universities in the world are in the U.S. (the University of Washington is ranked 16th). The same report also states China now has more than one million multi-millionaires and 60 percent of them also plan to emigrate abroad. So where their kids choose to go to school (and ultimately nest) may also influence where their wealthy parents plant their own roots in the U.S. The influence of foreign (primarily Asian) residents in the Seattle region is palpable. Most public schools offer ESL (English as a Second Language) and many businesses cater to Asian consumers already with Mandarin-speaking representatives. That makes sense in many communities. According to 2010 Census research, the City of Bellevue (just east of Seattle) has the highest percentage of Asian residents in the region increasing 77.1% from 2000. Today this represents 27.5% of the population base (the fastest growing ethnic group in Washington State). Other Eastside neighborhoods already exhibit a majority of Asian residents and brokers say the majority of multi-million home sales (especially waterfront homes) are being purchased by Asians. Perhaps a sign of the times, China-based Hainan Airlines, which commenced its first intercontinental flights between Seattle and Beijing in 2008, increased its service in June 2012 to accommodate 1,500 seats per week. Jones observes the Asian buying trends in Seattle as being similar to what occurred in Vancouver during the 1990’s before the emigration floodgates opened. So will history repeat itself south of the border? “Perhaps,” said Jones. “It may start as trickle now but once there’s a critical mass of immigration and return on investment, the demand becomes self-generating.”
RELATIVE VALUES: Two homes of similar age, scale, quality, and locale (prestigious in-city neighborhoods) are compared in Seattle, WA and Vancouver, B.C.
DENNY BLAINE ESTATE City:
Seattle
House Age:
2001 YBT
House Size:
8,270 SF
Lot Size:
23,066 SF
Recent Sale:
$6,250,000 in 2010
Current Value:
On Market for $7,200,000
SHAUGHNESSY ESTATE City:
Vancouver
House Age:
2002 YBT
House Size:
13,300 SF
Lot Size:
28,500 SF
Recent Sale:
$11,500,000 in 2008
Current Value:
$19,800,000* estimated
Summary: The Vancouver home today is likely worth $1,488/SF whereas the Seattle home is valued at $870/SF – about half the price. *Estimated value of home is based on unsolicited offers on similar homes in the area, according to Trevor Jones.
REALOGICSSOTHEBYSREALTY.COM I 33
THE COLLECTION
THE GLOBAL PARTNERSHIP Owners Dean and Stacy Jones of Realogics Sotheby’s International Realty are pleased to accept an invitation to The Global Partnership, representing the Pacific Northwest region to many of the top real estate markets around the world. Now, where would you like to go?
IT TURNS OUT THE WORLD IS FLAT AFTER ALL ...if you know who to ask in real estate
NORTH AMERICA AND ISLANDS Aspen, CO – Craig Morris Bermuda – Buddy Rego Bermuda – Penny MacIntyre Big Island, HI – Dodie MacArthur Boston, MA – Beth Dickerson Chicago, IL – Chris Feurer Dallas, TX – Robbie Briggs Greenwich, CT – Shelly Tretter The Hamptons, NY – Dana Trotter Jackson Hole, WY – The Spackman Team Los Angeles, CA – Barry Peele Miami, FL – Mayi de la Vega New York, NY – Royce Pinkwater Oahu, HI – Mary Worrall Newport | Laguna Beach, CA – Rob Giem Palm Beach, FL – Cristina Condon Naples, FL – Karen Van Arsdale San Francisco, CA – Gloria Smith Santa Barbara, CA – Suzanne Perkins Seattle, WA – Dean and Stacy Jones Silicon Valley, CA – Arthur Sharif Telluride, CO – Bill Fandel Toronto, Canada – The Trilogy Team Washington, DC – Michael Rankin
EUROPE Germany – Team London, United Kingdom – Team Moscow, Russia – Team Paris, France – Team Rome, Italy – Angelo Savioli South of France – Cyrille Jalon Sweden – Johan Lefevre Switzerland – Natalie Mik MIDDLE EAST Middle East – Team ASIA PACIFIC Hong Kong – Team
Pacific Northwest I 206.448.5752 Dean.Jones@SothebysRealty.com Stacy.Jones@SothebysRealty.com
In response to the globalization of client lifestyles and business, Royce Pinkwater of Sotheby’s International Realty in Manhattan founded this ground breaking partnership comprised of the finest Sotheby’s real-estate professionals in key markets worldwide. Our clients will enjoy preferred access and the immediate pulse of the worldwide real-estate market. Whether it is a residential, commercial or an investment acquisition — anywhere in the world — we can help.
34 I REALOGICSSOTHEBYSREALTY.COM
A S S O C I AT E P R O F I L E
JESSICA XU
J
INTERNATIONAL INVESTMENT SPECIALIST
essica Xu comes from a truly international background with specialization and years of experiences dealing with high-end and high-profile Asian clients, in the areas of private equity, luxury products marketing, and luxury real-estate. She’s cheerful with an electrifying personality, but possesses dedication to details and seamless execution. Jessica Xu is a residential real estate broker licensed with Realogics Sotheby’s International Realty in Washington State, US. She specializes in representing buyers and sellers interested in investing in real estate and is fluent in Mandarin Chinese. A savvy businesswoman, Jessica was born in Beijing and educated and lived on three different continents. She comes from an influential political family that still resides in Beijing today. Jessica uniquely understands the needs of international clients and can assist them in the immigration and transition process to a new community. She is committed to building long-term relationships with her clients. 杰西卡·徐 (Jessica Xu) 凭借她真正的国际背景和工作经验，常年与亚洲高端客户合作，协助客户投 资私募股本，奢侈商品以及豪华地产等多种领域。她不仅拥有开朗阳光的性格，她更注重细节， 追求完美。 JESSICA XU + 1 626 354 8771 JESSICA.XU@SOTHEBYSREALTY.COM
杰西卡是美国华盛顿州苏富比国际地产的房地产专业人员, 她精通英语和普通话。她为客户提供最 优质的美国房产项目和最新的市场动向，协助客户投资于房地产领域。作为一个对投资市场具有 敏锐观察力的人，杰西卡出生在北京一个有影响力的家庭，她曾在世界三个不同的国家生活多年 并受到良好的教育。杰西卡对于国际客户的需求具有独到的见解，她协助客户解决投资移民，并 帮助客户很好的过渡到一个新的生活环境。杰西卡竭诚为客户提供良好的投资方案，致力于与客 户建立长期稳定的合作关系。
REPRESENTING THE GATEWAY INTO WORLD-CLASS PROPERTIES.
REALOGICSSOTHEBYSREALTY.COM I 35
Sea to Sky... We have you covered.
Dedicated local experts. Worldwide reach.
Representing properties of significant & distinctive character in all price ranges. Let us help you take advantage of today’s marketplace. In five years, you’ll look back and feel like a genius.
RealogicsSothebysRealty.com | 206.448.5752
and • seattle • Mercer Island • Bellevue • Yarrow PoInt • clYde HIll • MedIna • MeYdenBauer • overlake Helan • kIrkland • juanIta • woodInvIle • saMMaMIsH • redMond • newcastle • renton • IssaquaH • gIg arBor • BaInBrIdge Island • PoulsBo • Port orcHard • norMandY Park • san juan Island • loPez Island uaH • caMano Island • wHIdBeY Island • lake cHelan • wIntHroP • leavenwortH • lakewood • snoqualMIe MuklIteo • wenatcHee • edMonds • sHorelIne • BellIngHaM • kIngston • alaska • seattle • Mercer Island • llevue • Yarrow PoInt • clYde HIll • MedIna • MeYdenBauer • overlake • kIrkland • juanIta • woodInvIle le • saMMaMIsH • redMond • newcastle • renton • IssaquaH • gIg HarBor • BaInBrIdge Island • PoulsBo nd • Port orcHard • norMandY Park • san juan Island • loPez Island • caMano Island • wHIdBeY Island an • lake cHelan • wIntHroP • leavenwortH • lakewood • snoqualMIe • MuklIteo • wenatcHee • edMonds sHorelIne • seattle • Mercer Island • Bellevue • Yarrow PoInt • clYde HIll • MedIna • MeYdenBauer • verlake • kIrkland • juanIta • woodInvIle • saMMaMIsH • redMond • newcastle • renton • IssaquaH • gIg
e g d e • e o d s • g
designer spotlight
THE COLLECTION
Polina Zaika is a celebrated designer and tastemaker known for her captivating take on interiors. Over the better part of the last decade, “M/USADesign” company has primed the lifestyle and design experiences for clients throughout the United States and abroad.
+ 1 425 246 3063 WWW.MUSADESIGN.NET M/ USADESIGN 234 DEXTER AVE N. SEATTLE 98109
ARCHITECTURE INTERIOR DESIGN LANDSCAPE ARCHITECTURE URBAN/COMMUNITY DESIGN 225 TERRY AVENUE NORTH • SUITE 200 SEATTLE, WA 98109 206.344.5700 • weberthompson.com CARRIE A. SMITH IIDA LEED® ID+C I N T E R I O R D E S I G N P R I N C I PA L
csmith@weberthompson.com
REALOGICSSOTHEBYSREALTY.COM I 37
THE COLLECTION
significant sales Represented by Realogics Sotheby’s International Realty
38 I REALOGICSSOTHEBYSREALTY.COM
$1,950,000 - SEATTLE | SAM CUNNINGHAM
$2,400,000 - RENTON | MELANIE MCCARTHY
$4,700,000 - SEATTLE | MOIRA E. HOLLEY
$1,799,000 - BELLEVUE | MICHAEL K. WALKER
$4,250,000 - SEATTLE | JULIE BINIASZ
FIFTEEN TWENTY-ONE SECOND AVE
$4,150,000 - SEATTLE | JULIE MCAVOY
OLIVE 8
$1,625,000 - SEATTLE | MELISSA CAMP
HARVARD & HIGHLAND
2012
$1,075,000 - SEATTLE | CARRIE DEBUYS
THE SANCTUARY
exceptional properties
THE COLLECTION
THE COLLECTION
$1,215,000 - BELLEVUE | CONNIE BLUMENTHAL $1,280,000 - BAINBRIDGE ISLAND | GIGI NORWINE
$975,000 - SEATTLE | STROUPE GROUP
$1,062,720 - SEATTLE CHRIS DOUCET
enduring
$775,000 - SEATTLE CASSIE DAUGHTREY
$3,300,000 - SEATTLE | SANDY JUSTEN 40 I REALOGICSSOTHEBYSREALTY.COM
$950,000 - SEATTLE | RIC DIEU
THE LAKESIDE
$875,000 - DES MOINES SEAN NIELSEN
$1,350,000 - POULSBO | KRISTI NELSON
$1,150,000 - SEATTLE | CONNIE BLUMENTHAL
THE COLLECTION
$2,200,000 - BAINBRIDGE ISLAND | DENNIS PAIGE
$1,400,000 - BAINBRIDGE ISLAND | SONJA JONES $3,175,000 - SEATTLE | MOIRA E. HOLLEY
$2,300,000 - SEATTLE | SCOTT WASNER
artfully uniting extraordinary
properties with extraordinary lives.
A S S O C I AT E P R O F I L E
C
CHRIS DOUCET EXCEPTIONAL PROFESSIONALISM WITH MARKET SAVVY BEYOND COMPARE
hris Doucet is a passionate residential real estate professional with more than 20 years of experience in connecting people with distinctive properties. Experience, knowledge, and commitment are just three of the qualifications Chris brings to a transaction. Her concierge style of service includes staging, reimaging and renovating providing a seamless listing advantage. Chris and her team provide intuitive listening with an intimate knowledge of the local market. Chris is well respected amongst her peers with strength in negotiation. It’s an extraordinary broker who knows how to market, stage, present, listen and negotiate - a combination of qualities that had made Chris Doucet the right choice for hundreds of clients.
CE
EW
I PR
N CHRIS DOUCET + 1 206 819 4663 CHRIS.DOUCET@SOTHEBYSREALTY.COM SEATTLESGREATESTHOMES.COM
$1,050,000 | SEATTLE, WA
$1,590,000 | SEATTLE, WA
RICK MAYNARD + 1 206 399 9911 RICK.MAYNARD@SOTHEBYSREALTY.COM REALOGICSSOTHEBYSREALTY.COM
RICK MAYNARD
A
TRUSTED EXPERIENCE IN THE NORTHWEST
s a lifelong resident of the Northwest, and a 2nd generation broker who has grown up in the real estate industry, Rick has a keen understanding of the greater Seattle area and the local real estate market. With over twelve years of residential real estate experience Rick is uniquely positioned to understand the dynamics of the local market place for savvy investments. Rick is a strong negotiator, anticipating his client’s needs and is committed to creating positive results for each of his buyers and sellers. Rick specializes in representing distinctive properties of all price points and property types; from in-city condos to floating homes, to bungalows, waterfront estates and destination retreats; Rick is the consummate professional dedicated to his client’s needs. 42 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
SEATTLE, WASHINGTON
A NOSTALGIC GATED VIEW ESTATE Remodeled historic Elizabeth Ayer estate in Mt. Baker, offers sweeping views of Lake Washington, Mt. Rainier and Cascades on over an acre of private grounds with expansive terraces and gated entry. Timeless elegance abounds in stunning formal rooms with original period details. 7 bedroom suites in this 9,500 sq ft manse with new gourmet kitchen and systems. Investment includes flexibility to develop 2 large homes on adjacent parcels, short plat entitlement & development plans near permit issuance. $2,888,000 l Lease $6,950 /month
CHRIS DOUCET +1 206 819 4663 CHRIS.DOUCET@SOTHEBYSREALTY.COM SEATTLESGREATESTHOMES.COM
REALOGICSSOTHEBYSREALTY.COM I 43
THE COLLECTION
THE EXCHANGE IYNA CARUSO
What’s New in the World of Travel, Style, Art & Design, Wine and Leisure JEWELRY The newest collection from Australian jewelry designer John Calleija was inspired by a supercar, the Aston Martin One-77. The collection was six years in the making. Calleija’s new gemstone is reminiscent of the Aston Martin’s sexy front grille. Like each piece in the collection, the platinum Astar Morganite and Pink and White Diamond pendant is limited to only 77 pieces. $470,000 calleija.com.au
EXPERIENCES Create your own private label Cabernet Sauvignon at the Mount Veeder Magic Vineyards in Napa Valley. Wannabe vintners can experience the process from harvest to barrel sampling to custom label creation. Under the expertise of winemaker Jeff Fontanella, the final product is ultra premium wine aged in French oak and unavailable to the public. $20,000 for a barrel’s worth, equal to 24 cases mountveedermagic.com
RECREATION Randy Pew heads a third-generation family business building canoes from scratch, much the way his grandfather did. As master canoe builder and owner of Merrimack Canoes, Pew’s output is less than 100 a year with a waiting list that often tops 10 weeks. Each limited edition boat is signed and numbered—and designed to be passed down like an heirloom. Starting at $3,100 merrimackcanoes.com 44 I REALOGICSSOTHEBYSREALTY.COM
A S S O C I AT E P R O F I L E
$2,888,000 | SEATTLE, WA
ALEX HAYES
A
ALEX HAYES + 1 206 605 1601 ALEX.HAYES@SOTHEBYSREALTY.COM ALEXHAYESHOMES.COM
Buyer’s Representative
MATCHING DISCERNING BUYERS WITH EXTRAORDINARY PROPERTIES
lex Hayes provides her clients with over 15 years of impeccable customer service, project management, marketing, and sales negotiation skills. Alex understands the challenges, emotions and successes involved in finding her clients’ dream homes. She is dedicated to bringing positive results by creatively collaborating with her clients to achieve their goals. A resourceful visionary, Alex always anticipates the small details and her clients’ needs with her tenacious personality. Alex is extremely well traveled both within the United States, Europe and Northern Africa and truly understands the discerning international buyer’s needs.
IRENE PAPPAS DELIVERING EXCEPTIONAL RESULTS
IRENE PAPPAS + 1 206 818 8477 MANAGING BROKER IRENE.PAPPAS@SOTHEBYSREALTY.COM IRENEPAPPAS.COM
I
rene is a top performing certified real estate professional serving buyers, sellers and developers in the Seattle area with over 13 years of award-winning experience. With over $300 million in personal career sales, she has proven to be an expert in her field, as well as a skilled negotiator delivering exceptional sales results. Irene has built a stellar reputation among clients and real estate professionals with her vast experience and passion for service and integrity. Irene is dedicated to providing exceptional service for all property types; so whether it’s a waterfront estate, a luxurious downtown condo or a modest suburban bungalow, Irene is committed to offering the very best solution for each client. Designations include: New Home Specialist in New Construction, Certified Negotiation Expert, Marketing Specialist and Designated CSP, Certified Residential Investment Property Analysis. $1,998,000 | NORMANDY PARK, WA
REALOGICSSOTHEBYSREALTY.COM I 45
THE COLLECTION
SEATTLE, WASHINGTON
NEVER BEFORE. NEVER AGAIN. The Residences at Fairview’s clean and modern architecture is designed to blend with the environment, maximize water views and incorporate an urban feel reflective of city life. It’s an exceptionally rare opportunity that is quite simply – Seattle. Perfectly positioned on the water’s edge of Lake Union, swimming, boating and kayaking are available immediately outside your door, and with close proximity to downtown Seattle. The Residences at Fairview offers balance for those that seek an everyday retreat from the city but desire the best of both worlds. The attached residences feature light-filled interiors, flexible living spaces and private outdoor terraces with breathtaking views of Lake Union, the Olympic Mountains and downtown Seattle. Enjoy refined finishes, thoughtful amenities and an expansive rooftop deck with an integrated fireplace, built-in BBQ options and provisions for an optional outdoor spa, wet bar and green roof system. LIMITED COLLECTION OF 21 WATERFRONT RESIDENCES | PRE-SALE PRICING FROM $1.295 MILLION | OCCUPANCY 2013 THE RESIDENCES AT FAIRVIEW | CARRIE DEBUYS 206.551.0555 | FAIRVIEWLAKEUNION.COM 46 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
Woodinville, WA
www.delillecellars.com
THE COLLECTION
BAINBRIDGE ISLAND AN ISLAND CITY ALTERNATIVE
T
here’s no question that heated markets like West Bellevue, Medina and Mercer Island are a popular choice for new residents arriving to the region. With miles of gorgeous waterfront homes, renowned school districts, ample recreation, retail, dining and residential services – the Eastside has led King County out of a real estate tailspin. But such popularity comes with a price, especially for waterfront. Perhaps that’s why more and more buyers have been eyeing Bainbridge Island as an alternative, which boasts many similar attributes but at half the price, according to local brokers.
“Bainbridge Island has long been an alternative real estate market for mainlanders but for families that know this community– it’s the preferred alternative,” adds Sonja Jones, Managing Broker and Founding Member of the Bainbridge Island branch office. “Our public schools consistently rank at the highest levels for state and national statistics. And as our storybook, seaside lifestyle becomes better known we’ll continue to see increases in real estate activity and property values.”
“Like those that live on the Eastside, we enjoy independence from downtown Seattle given all the amenities found here on Bainbridge Island – this is a place where you feel like you get away to it all,” said Dennis Paige, Founding Director of the Bainbridge Island branch for Realogics Sotheby’s International Realty. “Sure, there’s the occasional business meeting, cultural happening or sporting event in the city but commuting downtown is only a half hour ferry ride away. And there are plenty days when that the commute is longer (and more stressful) between Seattle and Bellevue. It’s only getting more challenging with the tolling of major routes and planned light rail initiatives.” Comparing the trends on the Northwest Multiple Listing Service, there have been 32 waterfront home sales in 2012 within the Eastside region (areas #510 & #520) with the median home price of $2,342,000 or an average price of $656 per square foot. Over the same period there have been 52 such waterfront home sales on Bainbridge Island but the median home price was just $950,000 for an average price of just $349 per square foot.
48 I REALOGICSSOTHEBYSREALTY.COM
Bainbridge Island residents are just a 30-minute ferry ride from downtown Seattle.
THE COLLECTION
Q &A MARILYN TURNER BAINBRIDGE ISLAND OFFICE MANAGER | REALOGICS SOTHEBY’S INTERNATIONAL REALTY
Recently Chad Zinda, Designated Broker and Director of Sales for Realogics Sotheby’s International Realty sat down with Marilyn Turner to ask a few questions: CZ – How did you come to find your way to managing the Bainbridge Island Branch of this global real estate network? MT – I’ve been in the industry for many years and watched with great interest as the Brand made its way onto the Island. I jumped at the chance to be part of the expansion team. CZ – So this isn’t your first experience with the Brand? MT – I was exposed to the Sotheby’s Auction House in 1991 representing my employer, Norman Lear who purchased the first printing of the 1776 Declaration of Independence for $2.42 million – it was thrilling. Interestingly, Brooke Astor’s estate is now being auctioned by Sotheby’s and I had the opportunity to meet her during a private reception with President Clinton – she currently graces the cover of Sotheby’s At Auction magazine. CZ – How do you feel your experiences and the Brand relate to real estate on Bainbridge Island?
CZ – So how is the market doing? MT – We’re very busy so that’s a good sign. The market fundamentals are strong regionally and we’re enjoying an increase of inquiries about life on Bainbridge Island in part due to the economy but also because our marketing team works hard to share our story. CZ – What else would you like people to know about you or the office? MT – That we built a retail showroom and we love visitors. Whether you’re in the market or just want to learn what we’re all about – stop by and say hello! Our decision to locate near Winslow Way and the marina was to be accessible and open to our community. Many have come to learn that we don’t just represent buyers and sellers on Bainbridge Island but in Seattle and around the world.
MT – This is an exceptional community. I feel this Brand is about uniting extraordinary properties with extraordinary lives. We enjoy being local experts while having a global context. Being an island it serves our clients to expose their properties to a bevy of potential buyers that are relocating to the area and may not otherwise discover Bainbridge Island. CZ – In just over a year you’ve climbed into a top-three position for office production by total dollar volume in sales. Congratulations – that’s remarkable considering your office is comprised of only six active brokers. MT – We’re proud of our accomplishments and of our brokers. We don’t seek to be the largest brokerage but we hope to earn our reputation for being distinctive in the brokers we employ, the properties we represent and most importantly, the results that we generate. We’re excited by our growth.
Realogics Sotheby’s International Realty Bainbridge Island Branch office located at 271 Madison Avenue, Suite 102 just off of Winslow Way.
REALOGICSSOTHEBYSREALTY.COM I 49
business spotlight bainbridge island
THE ISLAND GALLERY MAGNOLIAS SHOES & MORE Everything to make a girl’s heart go pitter-patter – from shoes to clothes, jewelry to scarves, hats to perfume. Come in and experience More.
Fine wood furniture and sculpture, woodfired ceramics, paintings and textiles for the home. We show cutting edge NW and international artists and pride ourselves in meeting the special needs of our clients.
123 WINSLOW WAY EAST
400 WINSLOW WAY E, S #120
BAINBRIDGE ISLAND, WA
BAINBRIDGE ISLAND, WA
+1 206 842 8333 MAGNOLIASSHOES.COM
VINTAGE HOME AND GARDEN Reclaimed, repurposed, vintage and vintage-inspired furniture and accessories for the home and garden. We think of ourselves as a design business with a Vintage Vibe. 4688 LYNWOOD CENTER ROAD BAINBRIDGE ISLAND, WA
+1 206 780 1778 VINTAGEHOMEANDGARDEN.COM
+ 1 206 780 9500 THEISLANDGALLERY.NET
SUBI JAPANESE RESTAURANT Enjoy fresh gourmet sushi rolls and fine Japanese dining in a stylish setting. Located at the Pavilion near downtown Winslow in Bainbridge Island. 403 MADISON AVENUE NORTH, S #150 BAINBRIDGE ISLAND, WA
+1 206 855 7882 SUSHIBI.COM
A S S O C I AT E P R O F I L E
LOCAL EXPERT. GLOBAL REACH. 100% CLIENT COMMITMENT.
S
onja Jones is a Founding Member and Managing Broker at Realogics Sotheby’s International Realty on Bainbridge Island. Sonja attributes her high client satisfaction to over eighteen years of residential real estate expertise. Sonja has a passion for finding the unique and extraordinary island property to enhance each client’s lifestyle and needs. Whether a waterfront retreat with Puget Sound views or a private estate perfect for equestrian living, Sonja has the commitment and expertise to smoothly guide you to your perfect island dream. Sonja is deeply committed to her client relationships and is dedicated to delivering enduring results for buyers and sellers of distinctive properties throughout the Puget Sound. “My commitment to you as the client will be to build a relationship that achieves your goals, thereby earning your respect, trust and friendship for a lifetime.”
SONJA JONES + 1 206 769 0669 SONJA.JONES@SOTHEBYSREALTY.COM SONJAJONES.COM
showcase
GRACEFUL, PRIVATE COMPOUND
PANORAMIC VIEWS - ALL DAY SUN
SUNNY SOUTH BEACH
Retreat to a private 5.72 acre compound & 275’ of no-bank waterfront on the sunny westfacing shore of Vashon’s Quartermaster Harbor. Golf and tennis club nearby.
Perfect Nantucket Style home with warm welcome entry, expansive covered decks and 180+ degree views from the Cascades to the Olympics with Mt. Rainier front and center!
Extraordinary Northwest style. Custom designed with an open expansive layout that takes advantage of all day sun and panoramic views from Mt. Rainier to the Olympics.
$3,950,000 | VASHON ISLAND, WA
$1,695,000 | BAINBRIDGE ISLAND, WA
$2,099,999 | BAINBRIDGE ISLAND, WA
lovingisland
life
A S S O C I AT E P R O F I L E
DENNIS PAIGE
REPRESENTING THE BEST OF BAINBRIDGE ISLAND
A
Founding Director of Bainbridge Island office, Dennis is long respected by both clients and colleagues for his professionalism, discretion and ability to accurately read the market. Dennis is one of the most successful brokers in the Bainbridge Island luxury market and offers over 23 years of experience. He has established a well-earned reputation for marketing and selling some of the Island’s most unique and extraordinary residences. Dennis goes to extraordinary lengths to provide exceptional client service and makes the business of selling or buying a home as straightforward, stress-free and rewarding as possible. DENNIS PAIGE + 1 206 920 3824 DENNIS.PAIGE@SOTHEBYSREALTY.COM DENNISPAIGE.COM
ISLAND LIVING
CHARMING COTTAGE ON ROCKAWAY BEACH
ELEGANT STYLE ON SUNNY SOUTH BEACH
ALL DAY SUN JUST STEPS FROM THE BEACH
One of the last original cottages on coveted Rockaway Beach. Enjoy breathtaking views of ferries, downtown Seattle and Mt Rainier, along with the rare luxury of privacy.
All day sun and spectacular Mt Rainier and Puget Sound views - that’s South Beach. A contemporary twist on traditional style, this beautifully updated home is ideal for entertaining.
Sun filled days and views are yours in this custombuilt one level home. Steps from water’s edge, with straight-on views of Mt Rainier and a panorama that stretches from West Seattle to the Olympics
$1,658,000 | BAINBRIDGE ISLAND, WA
$1,395,000 | BAINBRIDGE ISLAND, WA
$1,347,000 | BAINBRIDGE ISLAND, WA
LD
SO
SOLD $670,500 | BAINBRIDGE ISLAND, WA
52 I REALOGICSSOTHEBYSREALTY.COM
AN ARTISTIC RETREAT LIKE NO OTHER
EXTRAORDINARY NORTHWEST STYLE
Secluded above Port Blakely in the Blakely Hill neighborhood, this custom home offers nearly 5 acres of privacy and a wonderfully unique contemporary style.
Extraordinary Northwest style, custom designed with an open expansive layout that takes full advantage of all day sun and panoramic views from Mt Rainier to the Olympics.
$809,000 | BAINBRIDGE ISLAND, WA
$2,099,999 BAINBRIDGE ISLAND, WA
A S S O C I AT E P R O F I L E
dennis paige - island living
TRADITIONAL NEW ENGLAND STYLE
EASY IN-TOWN LIVING
SERENE MANZANITA VIEWS & PRIVATE DOCK
Old-fashioned charm is abundant both inside and out in this traditional New England style home. The look is classic, hidden at the end of a private lane on 1.5 sunny acres.
Easy in-town living at its carefree best! Delightfully convenient neighborhood of 21 cottages, all just minutes to shops, restaurants and the ferry.
Waterfront home with spectacular marine, mountain and sunset views from every room. Great for entertaining with stairs that lead to 150’ of bulk headed waterfront with private 144’ floating dock.
$739,000 | BAINBRIDGE ISLAND, WA
$319,000 | BAINBRIDGE ISLAND, WA
$1,095,000 | BAINBRIDGE ISLAND, WA
LD
LD
SO
LD
SO
SOLD $619,000 | BAINBRIDGE ISLAND, WA
SO
SOLD $789,000 | BAINBRIDGE ISLAND, WA
SOLD $942,500 | BAINBRIDGE ISLAND, WA
GIGI NORWINE
G
A COMMITMENT TO EXCELLENCE
igi specializes in representing exceptional properties throughout Bainbridge Island and Kitsap County. While representing a diverse clientele, she is dedicated to offering the highest level of customer service. Attention to details, keen understanding of clients’ needs and negotiating skills are crucial to creating successful real estate transactions in today’s dynamic marketplace. Gigi’s vast professional experience, positive attitude and education have led to successful outcomes for her clients throughout her estate career. She is deeply committed to the local community and giving back is at the forefront of her priorities.
LD
SO
GIGI NORWINE + 1 206 427 6492 GIGI.NORWINE@SOTHEBYSREALTY.COM
Accredited Buyer’s Representative Certified Short Sale Negotiator $649,000 | PORT LUDLOW, WA
$315,000 | BAINBRIDGE ISLAND, WA REALOGICSSOTHEBYSREALTY.COM I 53
$1,145,000 | BAINBRIDGE ISLAND, WA
KRISTI NELSON
R
KRISTI NELSON +1 206 391 1718 KRISTI.NELSON@SOTHEBYSREALTY.COM LIVINGONBAINBRIDGEISLAND.COM
AWARD-WINNING BROKER SPECIALIZING IN EXCELLENCE ON BAINBRIDGE ISLAND
ecognized by the Kitsap Business Journal as one of the “40 Under 40 Outstanding Businesspersons”, and voted by The Bainbridge Review readers as one of the “Best of Bainbridge” Real Estate Agents, Kristi Nelson is a dedicated residential real estate agent specializing on Bainbridge Island. Throughout her eighteen years of experience, her career has been led by a commitment to excellence in customer service and marketing. Her years of experience as a builder, real estate investor, and business owner offer a tremendous benefit to both buyers and sellers through her unique perspective on the real estate transaction. A Bainbridge Island resident and mother of two school age children, Kristi fully appreciates the extraordinary lifestyle that island living affords and is dedicated to helping her long-standing clientele achieve their lifestyle goals.
DON ROOKS A RELOCATION SPECIALIST WITH TRUSTED ISLAND KNOWLEDGE
O
ver twenty-five years of business experience and eight years as a residential real estate broker, Don has honed his skills and expertise to provide outstanding service for his clientele on Bainbridge Island and North Kitsap County. Don understands the local real estate market fundamentals and uses his keen analytical insights to assist in navigating his clients through the dynamic marketplace with savvy investment strategies. Whether in-state, out-of-state or international, Don is a sought-after relocation specialist and offers buyers and sellers a trusted perspective on island living. SOLD $500,000 | B AINBRIDGE ISLAND, WA
$878,000 | POULSBO, WA DON ROOKS + 1 206 948 9483 MANAGING BROKER DON.ROOKS@SOTHEBYSREALTY.COM DONROOKS.COM
LD
SO
THE COLLECTION
$1,195,000 | BAINBRIDGE ISLAND, WA
LAURIE TEDDY
P
LAURIE TEDDY + 1 206 794 1000 LAURIE.TEDDY@SOTHEBYSREALTY.COM REALOGICSSOTHEBYSREALTY.COM
A COMMITMENT TO ISLAND LIVING
assion” defines Laurie’s approach to her real estate career. As a resident of Bainbridge Island for fourteen years, Laurie has lived, worked and enjoyed every corner of the Island and she has a deep understanding for the uniqueness the island has to offer. Whether buying or selling, her goal is to share the treasures of the island and help her clients find the right property for their needs. Laurie has a proven track record of exceptional customer service throughout her career. She is committed to building her clientele relationships on trust, mutual respect and sincerity which endures long after a sale is complete.
DIRECTOR’S GALLERY The Island’s destination for original contemporary and fine art. Our roster includes acclaimed international, national and regional artists who have shown a capacity for comprehensive and focused bodies of work. The Gallery’s mission is to help cultivate the careers of these artists and to assist new clients and collectors in acquiring works of art which are as distinguished as they are beautiful. Open daily. Domestic and international shipping available. Primary and secondary market brokerage services. + 206 842 6000
THEDIRECTORSGALLERY.COM BAINBRIDGE ISLAND AND SEATTLE | WA
REALOGICSSOTHEBYSREALTY.COM I 55
F E AT U R E D D E S T I N AT I O N S
GREAT
ESCAPES Our Puget Sound region is unquestionably a spectacular place to live but as winter gloom looms it’s also a great place to leave. So for those in search of sun, snow or surf, I asked several Sotheby’s International Realty affiliates to shed light on what’s driving the market behind the most popular wintertime destinations. By Stacy Jones
To inquire about preferred resort properties around the world contact Stacy Jones at 206.448.5752 or email: Stacy.Jones@RealogicsSothebysRealty.com
HAWAII By Mary Worrall, President Mary Worrall Associates, Sotheby’s International Realty
Hawaii is the country’s tropical paradise. We have wonderful weather year round and some of the world’s most scenic landscape in the world. The turquoise Pacific is a magnificent backdrop to our glorious beaches and lush mountains. Honolulu and the island of Oahu offers the perfect blend of urban conveniences and relaxed island-style living. No other place offers the same level of shopping and dining with “barefoot elegance”. Perhaps the most remarkable quality of Hawaii is its culture and people — a true melting pot of cultures that is home to the “Aloha Spirit”. Broadly viewed as a safe haven for international interests, Hawaii is an ideal place to own real estate for investment and for lifestyle. The local economy remains strong and market indicators show consistent and positive signs in both the single-family and condominium home segments. Since correcting, median home prices have rebounded. And as more and more US consumers reach retirement, we expect that demand for this enviable lifestyle will continue to grow.
56 I REALOGICSSOTHEBYSREALTY.COM
HE CT IO F E AT U R ETD D ECSOTLI L NEAT IO NN S
SUN VALLEY
alpin PHOTOGRAPHY
By Darlene Young, Designated Broker Sun Valley Sotheby’s International Realty
Sun Valley enjoys its image as being the “ultimate vacationers’ destination” but increasingly buyers are calling it home. Why not? Sun Valley has it all from golfing, hiking, mountain biking and fly-fishing during the long days of summer to skiing, snowshoeing, and snowmobiling in the winter. Meanwhile, the vibrant town of Ketchum features world-class cuisine, an eclectic nightlife, and a variety of cultural events including gallery walks, ice shows and worldclass musical performances. Our resort town is completely livable year round. It helps that Sun Valley is easier to get to than ever. Horizon Air has been offering very inexpensive flights, during peak season, direct to Sun Valley from SeaTac Airport making it the perfect weekend getaway. In just a couple of hours, one can leave the bustling city behind and enjoy Sun Valley’s eternal sunshine and the majesty of the mountains.
alpin PHOTOGRAPHY
SUN VALLEY FAIRWAYS | $7,200,000 Sue Engelmann +1 208 720 0680 Caron Oclassen +1 208 720 1196
We have every reason to be optimistic about the Sun Valley real estate market. Our current MLS data reveals the number of homes sold during the first three-quarters of 2012 has increased a whopping 49% over the same time period last year. And the number of active listings on the market is down 12%. As a result we have begun to experience multiple offers on lower priced properties as the supply is absorbed – a trend we anticipate will rise through the higher price segments. Fall is our busiest selling season because buyers tend to explore their options during the summer and purchase in time to enjoy our enviable ski season. While prices have not yet begun to rise, preferred selection is being cherry-picked. A golden opportunity remains in Sun Valley to purchase property at significant discounts from our market highs.
Photo: Fred Lindholm
SUN VALLEY PANORAMA | $4,195,000 Sue Engelmann +1 208 720 0680
REALOGICSSOTHEBYSREALTY.COM I 57
F E AT U R E D D E S T I N AT I O N S
Arizona By Todd Gillenwater, Owner & Associate Broker Russ Lyon, Sotheby’s International Realty
Arizona remains a top destination because of our predictable weather, lifestyle variety and convenience (numerous direct flights to and from most major metro areas). Sky Harbor, Arizona’s international airport, is an important hub and route- connector to numerous large airlines, making access to the Grand Canyon state convenient from almost anywhere in the US and abroad.
TEMPE WATERFRONT
58 I REALOGICSSOTHEBYSREALTY.COM
TALKING STICK | SCOTTSDALE
Arizona experienced unprecedented residential growth and construction from the late 1990’s through 2008. The global economic crisis and housing correction hit Arizona early on and forced a significant reset of home and land values over the last several years. While clearly recovering, many opportunities still exist within our housing market with beautiful homes available for purchase at or even below replacement cost. This opportunity coupled with incredibly low interest rates and yes, that still ever present sunshine, make this an ideal time to own a piece of the treasure that we call Arizona.
PHOENIX CITY SKYLINE
Most notably, Arizona enjoys an amazingly temperate climate with abundant year around sunshine – ideally suited for Seattleites seeking a charge of Vitamin D. From the desert epicenter of Scottsdale/Phoenix, residents have numerous active, outdoor lifestyle opportunities in all seasons at their disposal. Golf, of course, is a great attraction across the state and provides a perfect winter and shoulder season haven for those from wetter, colder climates. But it’s not all desert. Almost half of the state is over 5,000 feet elevation and we have mountains that soar over 12,000 feet! This varied terrain is perfect for snow skiing, climbing, hiking, biking, camping and generally all outdoor activities – all within a two hour drive from the desert. And indoors Arizona’s cultural offerings include world-class arts, dining, shopping and entertainment venues.
F E AT U R E D D E S T I N AT I O N S
VICTORIA BC By Scott Piercy, Broker Sotheby’s International Realty Canada
Victoria is well known as a great escape for Seattleites, evident by the thriving tourism industry. Millions of visitors yearly flock to experience the heritage buildings, exceptional beauty of the natural landscape, and countless cultural events that add to Victoria’s charm. Be it full time or as a second home, residents enjoy a temperate climate and year round activities that include kayaking, biking, beachcombing, hiking, fishing and world-class whale watching. Other cultural attractions include high tea at the famed Empress Hotel, a tour through the renowned Butchart Gardens and the Royal BC Museum. Victoria is also home to unique shops and boutiques as well as fine dining along Fisherman’s Wharf and within Cook Street Village. According to Scott Piercy, a Broker with Sotheby’s International Realty Canada it’s an excellent time to buy in Victoria. “The market has corrected since 2007 and property values have clearly stabilized,” said Piercy. “Victoria is a highly sought after retirement and relocation city due to a high quality of life, low unemployment and relative affordability compared with Vancouver, B.C.”
525 TOWNER PARK ‘MILLE FLEURS’ | $18,000,000 Scott Piercy +1 250 686 7789 Jim LeBlanc +1 250 812 7212
Ready to visit Victoria, B.C.? Clipper Vacations offers daily return transportation from downtown Seattle to downtown Victoria in under three hours. For more information visit www.ClipperVacations.com.
REALOGICSSOTHEBYSREALTY.COM I 59
F E AT U R E D D E S T I N AT I O N S
alaskan paradise DI S C OVE RE D. . . Dean Jones, President & CEO of Realogics Sotheby’s International Realty recounts his recent journey into the Alaskan wilderness to preview a super-prime trophy property hidden in the final frontier.
< Approaching Hood Bay on Admiralty Island by sea plane with the Coast Mountain range on the horizon.
A
direct referral from the Sotheby’s Auction House is always a good thing. “Dean, I have something very special for you,” said Beth Laffey, the Director of Liaisons at the Sotheby’s Auction House in Manhattan. She told me about an extraordinary global citizen, who upon sailing much of the world discovered an indescribably beautiful and exotic assemblage of properties in Southeastern Alaska. This fee-simple land on Admiralty Island is not part of any municipality – in fact it is quite literally surrounded by a US National Monument (it’s like owning your own state within the State of Alaska). Yet despite the challenging building logistics (not to mention the millions of dollars required), Hidden Bay Retreat, a personal sanctuary of unparalleled specifications, was constructed. And following years of enjoyment and countless memories that it created for the family, the property would soon be made the available for purchase. I was allured. In less than two hours from Seattle I flew direct to Juneau. And after a brief 45 minute sea plane ride (which are like taxis in Alaska), I touched down in Hood Bay. My first reaction was, “Seattle’s landscape is so small compared to the enormity of Alaska – this must be what the Pacific Northwest looked like 500 years ago.” My second reaction was, “That house is an architectural marvel – it’s still going to be here in another 500 years.” Coming from a family of homebuilders, I’ve grown to appreciate design, engineering and utility. I was in awe of the European standards and flawless execution. I discovered the German owner had exacting preferences. For instance he had acquired the remaining timber rights to a stand of old growth cedar, which was harvested and custom-milled to build the stacked log home (there are no knots, no nails and or drywall in this house). Other than a
60 I REALOGICSSOTHEBYSREALTY.COM
few man-made conveniences for modern living, the residence is completely natural – even the pure wool carpet that was loomed from Black Sheep in Germany contains no dye. And a look under the hood reveals top-of-the-line generators, a water purification system, and even a commercial-grade fuel dock for both aviation gas and boat diesel to service a fleet of vehicles. The infrastructure on this property could operate a small village for up to six months at a time … and perhaps it will one day, considering there is ample opportunity to expand the family compound or sell the adjacent lots for others to build their destination dream home. “Tempting,” I thought to myself as I watched a bald eagle pluck a fish from the water’s surface. Seattle was already a distant memory, and it was at that moment when I began to understand the lure of Alaska’s beauty. To the owner I stated (respectfully), “You know, it’s not so much what you desired that makes you unique, but rather what you have accomplished here. This is a trophy.” The Hidden Bay Retreat remains a paradise found in Alaska – reserved for those who know where to find it.
PROMISE DELIVERED - Dean Jones and noted photographer Michael Walmsley added salmon fishing to their itinerary and returned to Seattle with a bounty of fresh seafood.
THE COLLECTION
The journey transcended only by arrival.
ADMIRALTY ISLAND, SOUTHEASTERN ALASKA
HIDDEN BAY RETREAT Discover your own private sanctuary unlike any other place on earth. A destination so remarkable – hummingbirds migrate thousands of miles each year to nest upon this natural haven. Perfectly centered between the conveniences of Sitka and Juneau in Southeastern Alaska, Hidden Bay awaits your discovery just three hours from major West Coast cities. A personal retreat gently sited upon more than 45 acres (9 fee-simple lots) behold nearly 3,000 linear feet of private shorelines protected by a National Monument that surrounds you. Enjoy majestic peaks, old growth forests and a leeward, deep water bay boasting a bounty of marine life within a temperate microclimate in the rain shadow of the Coast Mountain range. Outside, broad summer seasons and long days beget endless activity for family and friends: world-class yachting, sport fishing, hunting, hiking, sea kayaking and whale watching – each is just moments from your doorstep. Inside, retreat each day to the epitome of comfort framed by knotfree, heartwood cedar, walls of glass and enduring materials – reliably engineered for long term residential independence off the grid. A calling to the restless adventurer seeking the ultimate in remote accommodation, Hidden Bay Retreat is an irreplaceable opportunity to own the crowning jewel of the last frontier. Price Upon Request
DEAN JONES +1 206 3990 1826 JASON SHAFFER +1 907 738 7387 HIDDENBAYALASKA.COM
REALOGICSSOTHEBYSREALTY.COM I 61
sun valley property showcase
LOG HOME ON WARM SPRINGS CREEK
MAGICAL BIGWOOD RIVER COMPOUND
SOPHISTICATED MOUNTAIN CRAFTSMAN
Live your dream in this charming waterfront log home. This 4 br, four and one-half bath residence is perfect for a vacation retreat or family home.
A magnificent log complex that aspires to Mountain living is only five minutes from the Sun Valley ski lifts and the center of town, yet it is very private.
Superior quality finishes throughout, this spacious home features a great room, a main floor master suite, and only minutes to skiing, hiking, and town.
$1,595,000 | Ketchum, ID Katherine Wessel | 208.720.4728 Katherine.wessel@sunvalleysir.com Sunvalleysir.com | Property ID#: 4361770
$4,950,000 | Ketchum, ID Tom Heinrich | 208.720.0919 Tom.heinrich@sunvalleysir.com Sunvalleysir.com | Property ID#: 4353452
$2,195,000 | Ketchum, ID Mary Stratton | 208.720.0370 Mary.stratton@sunvalleysir.com Sunvalleysir.com | Property ID#: 4247879
MORNING SUNSHINE, VIEWS AND GARDENS
MOUNTAIN CONTEMPORARY
LOG HOME ESTATE
Located a few blocks from the Ketchum core, this garden home boasts 2nd floor living, outdoor deck, upgrades and luxury finishes, 2-car garage.
This 4 bdr home represents a blend of contemporary & rustic finishes - stainless, concrete, barnwood for a modern approach to mountain design.
$624,800 | Ketchum, ID Suzanne Walsh | 208.481.0553 Suzanne.Walsh@sunvalleysir.com Sunvalleysir.com | Property ID#: 4423250
$2,750,000 | Ketchum, ID Sue Engelmann | 208.720.0680 Sue.engelmann@sunvalleysir.com Sueengelmann.com | Property ID: 4416669
The main house and guest apartment total 4,400 SF, with 5 bedrooms, 4.5 baths on 2.69 acres, including a large trout-filled pond and immaculate estate grounds. Ketchum, ID
VIEWS AND PRIVACY
EXQUISITE DOWNTOWN PENTHOUSE
CLOSE TO SKIING WITH BALDY VIEWS
Strategically located on the property, the home takes advantage of the expansive canyon views, while the decks and patio offer options for relaxing in the sun or shade depending on the season.
A cosmopolitan view of Penthouse living with sophisticated barrel ceiling, artistic detailing, superior finishes, on-site property management, unparalleled security & technology, downtown Ketchum.
Ski, ski, ski! Located minutes from Dollar and both Baldy lifts, this private five bedroom â&#x20AC;&#x201C; five bathroom home has a direct view of Baldy runs.
$1,999,000 | Ketchum, ID (Mid-Valley) Eeva Pregitzer | 208.720.6909 Eeva.pregitzer@sunvalleysir.com svproperty.com | Property ID: 4313113
$1,925,000 | Ketchum, ID Karin Horvath | 208.720.6820 Karin.horvath@sunvalleysir.com Sunvalleysir.com | Property ID: 4248429
62 I REALOGICSSOTHEBYSREALTY.COM
$2,350,000 | Bob Dittmer | 208.720.0822 Bob.dittmer@sunvalleysir.com Sunvalleysir.com | Property ID: 4294547
$1,775,000 | Ketchum, ID Anne Zauner | 208.720.0721 Anne.zauner@sunvalleysir.com Sunvalleyre.com | Property ID: 4248233
THE COLLECTION
FIND YOUR PLACE IN THE SUN Exquisite, thickly wooded 20 acre estate has the ultimate privacy. The home is situated on the Flying Heart Lake, has multiple ponds, flowing streams & custom pool with waterfalls. 8,403 square feet, six bedrooms, six and one-half bath home, with a 1600 square foot guest house and gym. $13,000,000 Janine Bear | 208.720.1254 Janine@JanineBear.com Property ID: 4356429
COMPLETE PRIVACY IN THE MIDDLE OF TOWN Located on an estate-sized lot in between the Warm Springs Ski lifts and downtown Ketchum, this lodge-style home offers inviting living spaces for a large group of people. 6,000 sf, including 4 bedrooms in the main house plus a separate guest house. $2,200,000 Stephanie Bourgette | 208.720.2803 Stephanie.Bourgette@SunValleySIR.com Sunvalleysir.com | Property ID: 4323338
21 ACRES ON THE BIGWOOD RIVER On golden ponds and one-half mile of river frontage, this 21 acre wooded estate property is subdivided into two stunning home sites including a cottage/carriage house accessed by a private lane. Fabulous water rights, privacy, and priced to sell. $1,495,000 Bill Norris | 208.720.0724 Bill.Norris@SunValleySIR.com Sunvalleysir.com | Property ID: 4258818
SOPHISTICATED STYLE This rarely available Arrowwood Condominium is on the open space, has outstanding mountain views, three bedrooms, and three and one-half baths plus bonus room. There are two fireplaces plus a two-car heated garage for the winter season. Close to all that Elkhorn has to offer. $725,000 Catherine Carley | 208.481.2221 Catherine.Carley@SunValleySIR.com Sunvalleysir.com | Property ID: 4262520 REALOGICSSOTHEBYSREALTY.COM I 63
THE COLLECTION
Great golf is just the beginning…
OCT 31 - NOV 4, 2012 www.schwabcup.com
6 CHAMPIONSHIP JACK NICKLAUS SIGNATURE COURSES 9-COURT TENNIS COMPLEX 6 AWARD-WINNING CLUBHOUSES EXQUISITE DINING SPA/FITNESS MILES OF PRIVATE HIKING & BIKING TRAIL SYSTEM YOUTH ACTIVITY CENTER STATE-OF-THE-ART GOLF PERFORMANCE CENTER
Don Breidenbach don.breidenbach@russlyon.com
480.488.2998 800.941.3874 desertmountain.com
Scottsdale Arizona 800.941.3874
Each Office is Independently
Owned & Operated 5 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
INTELLECTUAL
PROPERTIES A showcase of innovative ways our brokers are finding success in marketing their unique real estate properties.
1 1
2
1
MOV’IN ON UP The sales teams at both Fifteen Twenty-One Second Avenue and Olive 8 assisted several buyers in selling their lower floor homes to acquire another home in the building while there was still availability.
2
SHE SELLS SANCTUARY The Cult classic hit is ringing loud and clear for broker Carrie DeBuys. She and Dean Jones flawlessly managed the firm’s first receiver sale at The Sanctuary – a former church turned town home development – exceeding lender expectations with multiple offers on the final homes. Talk about real estate redemption! Learn more: LiveatSanctuary.com
66 I REALOGICSSOTHEBYSREALTY.COM
3
3
LIGHTS.CAMERA.EXPOSURE. After some “Sotheby’s Stalking” producers of The Travel Channel, House Hunters and HGTV’s “Million Dollar Room” have identified our unique listings and recently filmed episodes with brokers Cassie Daughtrey, Jason Shaffer, Jamie Michaud and Carrie DeBuys.
HGTV
million dollar rooms
house hunters TRAVEL
channel
WORKING (QUIETLY) BEHIND THE SCENE Broker Chris Doucet sold her client’s West Seattle property in one day prompting an aggressive search for their “perfect house.” After negotiating a required leaseback to bide time, Chris quietly networked until she found several options offmarket. It worked. Chris found an ideal home on one of the most beautiful streets in Seattle – and negotiated a win-win sale of a $2 million home.
BUYING IN BULK
THE COLLECTION
WHAT’S
TRENDING CONTINGENCY THEORY Those that need to sell a home in order to buy a home may want to talk to a broker at Realogics Sotheby’s International Realty. Numerous recent sales have occurred when a client contracts on a targeted home (before it sells to someone else) but the sale remains subject to the successful sale of an existing home. Terms are negotiated to lock in the opportunity and when the primary home sells, the new home closes shortly thereafter.
“After several years of playing wait-and-see, clients are increasingly testing the waters and finding success - nothing ventured, nothing gained.”
The Stroupe Group assisted an international investor to purchase 11 units at Olive 8 and quickly leased up the homes offering an impressive return on investment.
Melanie McCarthy, Broker
HOUSE SWAP Broker Jamie Michaud facilitated a successful house swap between two independent sellers that were tired of waiting using traditional listing methods. She matched their desired lifestyles and swapped titles.
OUT OF SIGHT Broker Cybele Walsh recently made a referral of a gorgeous $19+ million listing to an affiliate in California and managed the sale from Seattle – the manse closed this September at $18 million.
SLEEPING ON IT Qualified buyers at Fifteen Twenty-One Second Avenue are now being offered overnight stays in a fully-furnished home to experience and value “city life” before making an offer!
PENTHOUSE DOUBLE DOWN Brokers Chris Rossman and Moira Holley recently helped their separate clients acquire the adjacent penthouse property for potential assemblage and adding value to these super prime properties.
3
OVERSEAS LEASE TO OWN Broker Anton Krivenyshev, who is fluent in Russian, was approached online by a Russian couple interested in buying on the Eastside. He negotiated a long-term lease on a luxury home in Bellevue with an option to buy and with a full rental payment applicability against the purchase price.
REALOGICSSOTHEBYSREALTY.COM I 67
VANCE A. HILL VANCE HILL + 1 425 583 0310 VANCE.HILL@SOTHEBYSREALTY.COM SEATTLELUXURYGROUP.COM
KATHIE PRICE KATHIE PRICE + 1 206 999 4901 KATHIE.PRICE@SOTHEBYSREALTY.COM SEATTLELUXURYGROUP.COM
$1,600,000 | SNOQUALMIE PASS, WA
L
A NEW PARADIGM OF RESIDENTIAL MARKETING EXPERTISE
eading the way for the next generation of luxury Real Estate marketing, Vance Hill and Kathie Price founded Seattle Luxury Group; a new paradigm for representing unique homes throughout the Pacific Northwest. Established as an innovative marketing and sales team, The Seattle Luxury Group was instrumental in securing Josh Altman of BRAVO’s hit show “Million Dollar Listing – LA” for the premier LUXE real estate symposium. As a team they have built their relationships based on trust, knowledge and expertise earning them a stellar reputation amongst their clientele.
SUZANNE SINGLETON
S
SPECIALIZING IN EXCELLENCE THROUGHOUT THE EASTSIDE
uzanne prides herself on offering clients incomparable service, exceptional professional expertise and real estate experience that exceeds their expectations – every time. She loves the fine art of real estate. Suzanne has earned an impeccable reputation with a loyal following. Her commitment to excellence, attention to detail, outstanding marketing campaigns, strong negotiations skills and above all else - putting her clients’ satisfaction first have earned her the trust of her clientele. “Being a real estate professional means more than selling homes. It’s my clients, their hopes and dreams, with the goal of finding a home that enhances their lifestyle.” And as a lifelong resident of the Seattle/Bellevue area, Suzanne has a keen understanding of the beautiful Pacific Northwest and the local real estate market. She specializes in assisting discerning buyers and sellers in Medina, Clyde Hill, West Bellevue, Mercer Island and other Eastside communities.
LD
SUZANNE SINGLETON + 1 425 761 7007 SUZANNE.SINGLETON@SOTHEBYSREALTY.COM SUZANNESINGLETON.COM
68 I REALOGICSSOTHEBYSREALTY.COM
SO
SOLD: $1,375,000 | MERCER ISLAND, WA
LD
SO
SOLD: $529,000 | NEWCASTLE, WA
TH C OcLoLlElCeTcIt OiN tE he on
TruE WAShINgToN ChArACTEr winE EntHuSiaSt MagazinE 2009 Cuve´e arlette - 95 points 2009 Cuve´e Mirabelle - 94 points 2009 proprietor’s Cuve´e - 94 points 2009 Syrah - 93 points 2011 Roussanne - 92 points 2011 Cuve´e Meline - 92 points 2011 Rose´ of Sangiovese - 92 points 2011 Chardonnay - 91 points
Lauren ashton Cellars creates exceptional, food-friendly fine wines meticulously handcrafted in a purist French Style. our portfolio of limitedproduction wines are as distinctive as they are delicious and celebrate the fruit and uniqueness of washington’s terroir. Each lot is crushed, fermented, and aged separately through the final blending stage to achieve complexity and honest character that is true to the vineyards ensuring the finished wine is worthy of the Lauren ashton Cellars label. +1 206 504 8554 laurenashtoncellars.com 19510 144th ave ne, suite d-12 Woodinville, Wa
Vida Spa Revitalizes your external sense of well-being while restoring your internal sense of vitality and energy. Each treatment is as unique as your needs so your body, mind and spirit can all be brought into perfect harmony. LiVE wELL. LiVE Long. Vida SpaS. “A session in one of Vida’s cedar steam cabinets, is like a mini-vacation.“ - by NW Source 2200 Westlake avenue, seattle, Wa 206 264 8432 | vidaspas.com
PINK DETAILS MEDIA & EVENTS Showcasing Chic Lifestyles, designer Homes, Swanky Events, Businesses, weddings & Charities. MVp parties & Real Estate Concierge Shop n’Spa Bliss parties personal & professional Lifestyle Services. info@bvizionary.com | b-vizionary.com marlena rose/oWner |gmarlena@gmail.com p.o. box 233, renton, Wa | 425-279-3906 REALOGICSSOTHEBYSREALTY.COM realogicssoTHeBYsrealTY.coMI 69 i 69
A S S O C I AT E P R O F I L E
ALEX THOMAS A PASSION FOR REAL ESTATE AND CREATING RESULTS
O ALEX THOMAS + 1 425 422 8942 ALEX.THOMAS@SOTHEBYSREALTY.COM ALEXTHOMASWAHOMES.COM
ver two decades of sales experience, Alex has built a stellar reputation for amongst her clients and real estate professionals for creating positive results. Alex offers a concierge style of service; a skill she earned through her years at Thompson Reuters a Fortune 500 company selling to top executives in the legal community, and with Nordstrom where she was consecutively a “Top Producer”. She uniquely understands the home building industry and is dedicated to working with buyers and sellers to assist them in navigating a dynamic real estate landscape. She is committed to offering her clients a smooth transaction whether it is an exceptional waterfront home, an urban condo or an island retreat. Alex specializes in the Bellingham, Camano Island, Mukilteo areas.
100 feet of prime westerly waterfront on a shy acre! Spanning across to Penn Cove where you will enjoy sailboat races, deep water boat traffic, and where the eagles soar above.
Rare 309 feet of 180 degree waterfront living at its finest! Stunning home is perched above water’s edge with an ACRE of pristine privacy and organic gardens.
100 feet of Waterfront. Featured in two of Seattle’s Premiere Magazines for its unsurpassed landscaped grounds, includes two custom rock fire pits & hot tub at waters edge.
$699,000 | CAMANO ISLAND, WA
$998,000 | CAMANO ISLAND, WA
$975,000 | CAMANO ISLAND, WA
AT
70 I REALOGICSSOTHEBYSREALTY.COM
A S S O C I AT E P R O F I L E
BRINGING YOU THE LATEST IN TECHNOLOGY simple. reliable. performance.
425.702.8600 | www.wipliance.com AUDIO/VIDEO • COMMUNICATIONS • INTEGRATION • LIGHTING CONTROL • SECURITY • WINDOW TREATMENTS
THE COLLECTION
IN THE
SCENE
O
n March 31 and April 1, two dozen brokers and executives from Realogics Sotheby’s International Realty hosted an estimated 500 guests within the LUXURY LOUNGE during the 2012 TASTE WASHINGTON! Event at the CenturyLink Field Event Center. Realogics Sotheby’s International Realty was proud to be the invited real estate partner for this festive celebration of food and wine that drew more than 4,000 patrons over the weekend.
TASTE OF Washington
Taste of Washington • The Great Gatsby • Bainbridge In Bloom • Barkitecture • A • Top Ten Event • Art Walk • Taste of Washington • The Great Gatsby • Bainbridge Rendezvous Broker Opens • Top Ten Event • Art Walk • Taste of Washington • The 72 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
The Great Gatsby Celebrating the “Connoisseurs of Life” more than 200 guests attended The Great Gatsby on July 26 the event was held at one of Mt. Baker’s most noted historical estates designed by Elizabeth Ayer and listed by Realogics Sotheby’s International Realty. Hosted by LUXE Magazine, guests arrived in Gatsby inspired style from the roaring 20’s and were treated to private test drives of the new lines by Ferrari and Maserati, a garden party complete with glass art installation by Canlis Glass, interior furnishings by Masins Fine Furnishings, a new kitchen vision by Cutting Edge Design and bites and libations from John Howie, DeLille Cellars, O Wines and Glass Distillery / Vodka.
For the Connoisseurs of Life. The
G
rea For T the “I bel ieve con aTs th who noi had a at on the by first ctuall s n seur y bee ight I n inv Luxe s of ited.. went to G In .” F. S atsby’ event teriors + l cott F s hou Desig i featu f it e se zgeral n and ring listed I wa s d, pri F
Test
G
on er b The G style y Realogi vate Ferra rari of Sea reat G e of the fe by M cs So ri test ttle in w gu atsby asins theby’ ests vite yo drive Fine u to an Furn s Internat s from Priva an ishin exclu ional te gs & sive Realt exclusive instal test drive Interi y and Mt. B “Great G lation s foll o r at D aker artist ow s by JP sby” esign ~ mu ga ically . si Canli ed by a staged ted estate Gatsb Efaw c by Cutt s~ w ing ~ even y in G in atsby t serv Edge Des es by DeL themed ga ices b ille C ign ~ rden el y Ari p a la arty kitch rs ~ aStyle ~ un ~ cate en makeo ginger m ique ar red b ve Wh Gat ites an r by Inte tinis by G glass art ere: sby lass V ri d refr Grand attir od eshm or Design View ents. e en er, Lam ka 1908 Estate cou ar Seat 34th Ave r
Driv e
tle, W A
1 PM
-5
9814
4
South
age d Wh en:
s: Contact PM By July 26 *Test Appoi th 20 drives RPerr : Rober Gar ntmen and 12 to ina@ com de Bu t* Ferrar Perrina appo tler Valet mence at iofSea Part n intm 1908 will ttle.c ent is y 34 pa : om th rk absolu 5:30 tely ne your vehi Avenue So P M - 8:30 cl cessar ut RSV y to pa e. Note: h PM P: Deb Priz A rticip by es: Gra ate! n DStei Steiner | nd Lu ner@ Luxe xe PNW One-o prize for Space Par Magaz Pu be is Lim k valued f-a-kind gl st Gatsb ine.co blisher in ited y at g: Fr as m at up to $4 s art piece tire. om 5 -Don ,000 ated Benz PM - 8:30 by C sh anlis Val et uttles pr PM Mer Glass ce ov roun will be m ided by desaking d-trip B ut le r Scho s from contin ol Boule , 3013 So Franklin uous ut va parkin rd, whe h Mount High B re Mou g is availa ample aker nt Bak street ble al er Bou on levard g South .
Asian Art Sweep • Broker Appreciation • Hainan Rendezvous • Broker Opens e In Bloom • Barkitecture • Asian Art Sweep • Broker Appreciation • Hainan e Great Gatsby • Bainbridge In Bloom • Barkitecture • Top Ten Event • Broker REALOGICSSOTHEBYSREALTY.COM I 73
THE COLLECTION
INTERNATIONAL HAINAN RENDEZVOUS
D
ean Jones, Owner and Scott Wasner, Co-Founding Director represented Realogics Sotheby’s International Realty at the 2012 Hainan Rendezvous in the City of Sanya on Hainan Island in China on April 5 - 8. Celebrating its fourth year, this major lifestyle exposition is comprised of a yacht show, business jet exhibit, luxury property showcase and displays of various high-end brands. The Hainan Rendezvous is famous for drawing some of the wealthiest individuals from the greater China region, many dozen of whom are flown to and from the island on private jets.
Hong Kong On April 4, Realogics Sotheby’s International Realty represented Olive 8 at the International Real Estate Showcase in Hong Kong.
B R O K E R S
74 I REALOGICSSOTHEBYSREALTY.COM
THE COLLECTION
O
n May 2, Realogics Sotheby’s International Realty hosted a private event with Henry Howard Snyed, Vice Chairman, Asian Art and Howard Yeo, Art Appraiser from Sotheby’s Art Auction in New York. The duo were visiting in search of local Asian works of art to be consigned at an upcoming art auction.
ART Barkitecture On May 24, 2012 LUXE Magazine, Realogics Sotheby’s International Realty and a host of other partners and sponsors joined several hundred guests at the Seattle Design Center for the first annual LUXE Barkitecture! Design competition and puppy fashion show in support of The Seattle Humane Society and Seattle Children’s Playgarden charities. A total of ten unique dog houses were on display with a special presale auction selling five raising thousands of dollars. The remaining dog houses are being bid on EBay.
Bainbridge in Bloom On July 15, 2012 the entire Bainbridge branch office at Realogics Sotheby’s International Realty turned out to join the Arts & Humanities Council at the Evening in Bloom Art Auction & Gala at the Manor House at Pleasant Beach. Guests enjoyed beautiful gardens, fine wines and some remarkable works of art, which was auctioned off for charity.
REALOGICSSOTHEBYSREALTY.COM I 75
listing portfolio jamie michaud
HGTV “MILLION DOLLAR ROOMS” OLYMPIA, WASHINGTON
JOHNSON POINT BEACH HOUSE Undoubtedly the most prestigious South Sound Waterfront location at Johnson’s Point. Upon entry you will marvel at the grand vaulted ceilings, beaming hardwood floors, and custom finish work. Enjoy breathtaking views of the beautiful Puget Sound, Olympic Mountains, and the natural beauty of the wildlife. This property encompasses 13,335 sq ft, 4 bedrooms, 5.5 baths, all perched upon a 1.89 acre lot. All with private low bank waterfront access, this exquisite property is not to be overlooked. Price $6,088,800
LD
JAMIE MICHAUD + 1 253 686 0806 JAMIE.MICHAUD@SOTHEBYSREALTY.COM JAMIEMICHAUD.COM
LD
SO
LD
SO
SOLD $1,023,800 | TACOMA, WA 76 I REALOGICSSOTHEBYSREALTY.COM
SO
SOLD $825,000 | GIG HARBOR, WA
SOLD $610,000 | UNIVERSITY PLACE, WA
A S S O C I AT E P R O F I L E
JAMIE MICHAUD
REPRESENTING DISTINCTIVE PROPERTIES THROUGHOUT SOUTH SOUND FEATURED ON HGTV “MILLION DOLLAR THE ROOMS”
J
JAMIE MICHAUD + 1 253 686 0806 JAMIE.MICHAUD@SOTHEBYSREALTY.COM JAMIEMICHAUD.COM
amie Michaud specializes in representing distinctive residences throughout the greater South Sound area. She has been a residential real estate broker since 2006 and offers a diverse range of experience from raw land, to exquisite waterfront estates, in-city condominiums, breathtaking golf communities to exceptional horse ranches. Jamie understands that success is a combination of hard work, drive, determination, and the creativity to make things happen and she has a passion for creating results. A consistent sales achiever in the Northwest Multiple Listing award categories, and a 5-time President’s awardwinner, Jamie encompasses the experience and access to market a property with world-class capabilities and to close a deal. Her experience combined with the power of an international brand, make Jamie the ultimate choice in the South Sound for buyers and sellers of exceptional properties.
POWERFUL MARKETING. EXCEPTIONAL EXPERIENCE. UNPARALLELED RESULTS.
HGTV
million dollar rooms
$1,188,000 | LAKEWOOD, WA
Host of HGTV’s Million Dollar Rooms, Carter Oosterhouse interviewing Jamie Michaud, Broker of Realogics Sotheby’s International Realty. HGTV will be airing the $6,088,800 waterfront estate listed by Jamie Michaud in early 2013. Million Dollar Rooms features high-end design and luxury living around the globe.
$1,099,000 | LAKEWOOD, WA
$699,000 | TACOMA, WA REALOGICSSOTHEBYSREALTY.COM I 77
THE COLLECTION
ChadZinda building better brokers
I
f there’s an art to becoming a top-producing broker then Chad Zinda, Designated Broker at Realogics Sotheby’s International Realty, has created a gallery of masterpieces. Since joining Realogics Sotheby’s International Realty earlier this year, he has helped the firm become a top-selling brokerage office in the Seattle metro area year-todate 2012 for total dollar volume, according to Trendgraphix.
“Our growth is the result of great brokers leveraging the depth of marketing resources and global exposure that has defined our Brand,” said Zinda. “It helps too that our impressive collection of listings is aligned with a rebounding housing market – sales are up locally and by virtue of those relocating to and from the area. All said this is a business you have to be passionate about and when you love what you do it shows in your accomplishments.” Drawing on more than 15 years in real estate as a successful broker and having spent the past 10 years in brokerage management, Chad oversees all corporate operations for the realty as well as broker and Brand development. As a certified sales trainer (recognized by Washington State Department of Licensing) Chad is celebrated for “building better brokers” by meeting both licensing requirements and providing skill building and education within a dynamic real estate marketplace. His balance of creative and strategic talents and highly collaborative style has created a welcomed voice within the local real estate community.
Realogics Sotheby’s International brokers Sean Nielsen and Melanie McCarthy take the spotlight with Designated Broker Chad Zinda in the Luxury Living Lounge at the Taste of Washington. Also shown: Carrie DeBuys and Melissa Camp
‘‘
We credit Chad for our culture of kindness and collaboration while at the same time expanding our Brand within a highly competitive marketplace.
‘‘
STACY JONES, VICE PRESIDENT & OWNER Realogics Sothebys International Realty
“We are service providers that strive for excellence in the brokers that we employ and in the results that we produce – that’s the 268 year old legacy of Sotheby’s,” adds Zinda. “We’re proud to be building upon this heritage one sale at a time.”
TRAINING FOR EXCELLENCE - Chad is known for bringing inspiring props to his sales meetings to reinforce his messages.
Designated Broker & Director of Sales Realogics Sotheby’s International Realty
Contact Chad: (O) 206.448.5752 / (C) 206.579.4939 78 I REALOGICSSOTHEBYSREALTY.COM
a timeless destination,
to make your dream home a reality, contact jay for home-financing tailored to you.
Fredric "Jay" Crowell II Vice President, Certified Mortgage Planner | NMLS 246676 Office: 206.682.6400 | Cell: 206.795.9268 | jay@teamcrowell.com
www.TeamCrowell.com 600 University St., Ste. 2828 | Seattle, Washington 98101 | CL-247244 (NMLS 247244) Not a commitment to lend. Borrower must meet qualification criteria.
ALL NEW:
UNMATCHED GLOBAL EXPOSURE & REACH
RealogicsSothebysRealty.com
SIGN UP AND JOIN THE PASSPORT REGISTRY Members receive newsletters, market updates, exclusive event invitations and The Collection magazines. ONTACT INFORMATION WILL ONLY BE USED FOR * CAPPROPRIATE COMMUNICATIONS AND WILL NOT BE SOLD TO THIRD PARTIES ( OPT OUT AT ANY TIME ).
ON SCHEDULE TO DELIVER MORE THAN 506 MILLION ONLINE IMPRESSIONS IN 2012
Take a closer look... • Powerful property search ( local & global ) • Interactive data on neighborhoods and schools • Informative market research and live blog roll • Dynamic video, broker profiles, and helpful links • Search engine optimized for maximum exposure • Listings syndicated on dozens of partner sites
#1
LUX U RY H O M E SEARCH
sothebysrealty . com luxuryrealestate . com christiesgreatestates . com luxuryportfolio . com
0.01 0.008 0.006 0.004 0.002 0 JUL
AUG
SEP
DAILY REACH (%) - DATA OBTAINED FROM ALEXA.COM 9.14.12
80 I REALOGICSSOTHEBYSREALTY.COM
You found your dream home. Choose a mortgage to match. Experience a world of choice with Jumbo Loans from Union Bank®. When it comes to larger loans, your options can be limited. At Union Bank, we broaden your choices and offer our most competitive rates on larger home loans.1 Whether you’re buying or refinancing, we make our best options available to you: Variety of Loan Programs—have more choices with an assortment of fixedor fixed/adjustable-rate jumbo loan programs up to $5 million. Zero Point Options—reduce your out-of-pocket expenses at closing, and still get a great rate on your mortgage. Interest-Only Payment Option—make lower monthly payments and maximize your potential tax deduction. (Consult a professional tax advisor.) 2 Portfolio Lender—receive specialized underwriting on the most complex mortgages and consideration of loan amounts above $5 million, case by case.
Get personalized service and great rates with a Jumbo Loan. Diane Haag Jumbo Mortgage Specialist Greater Seattle & Eastside 425-444-8484 Cell, 425-828-8771 Direct diane.haag@unionbank.com, unionbank.com/dhaag NMLS ID #502199
1 2
Loans subject to credit and collateral approval. Financing available for collateral located in CA, OR, or WA. Restrictions may apply. Terms and conditions subject to change. With an interest-only mortgage payment, you will not pay down the loan’s principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your mortgage consultant to determine what your payments might be once the interest-only period ends. ©2012 Union Bank, N.A.
THE COLLECTION
tran�uil A home of tranquility. One that allows you to relax, that whispers soothing harmonies and presents serene vistas. It is a peaceful setting where contemplation occurs and uncertainty disappears.
Whether your search is around the corner or around the globe – we are local experts, worldwide. Find your “tran�uil ” at
realogicssothebysrealty.com
Kamala, Thailand Property ID 4000027557 | sir.com
® MMXIII Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliate LLC.
REALOGICSSOTHEBYSREALTY.COM I 5