According to a recent article in Juwai.com, Chinese property investors are still finding the American dream alive and well. Many of these investors are focusing on California, Florida, New York, Texas and Washington state as these are the five favorite US states for Chinese buyers.
Starting mid 2016, a new 16 story Seattle apartment tower will feature the regions first to story Whole Foods Market. The project will feature over 265 apartment units on a half block lot on the border between First Hill and Capitol Hill, at the intersection of Madison and Broadway. This is only one of nearly 12 new apartment projects planned for the neighborhood. Developers plan on capitalizing on rapidly rising rents as more people move into the area due to the increase in the number of jobs and tech industry positions
Washington state may not be the most expensive state in the US but we do have one city that tops the list Of 25 Highest Priced Homes in the US. That city is Mercer Island. Research was collected on the average listing price of a four bedroom and two bath home in more than 2700 markets across the US for six months at the beginning of 2015. The average Washington state home was priced at $404,000, far lower than the average price in many of the states most expensive cities. Even though individual neighborhoods may offer different price points, the research with collective across the entire city for this size home.
For the first time, Amazon reveals the Washington state headcount of those working for the Internet Giant. In an exclusive interview with the Puget Sound Business Journal, Amazon employs 24,000 people in the state of Washington. With over 1,000,000 ft.² of leased space, this actually leaves Amazon enough room to more than double its existing headcount. The worldwide employee count is at 183,100 people up from 154,000 just at the end of 2014.
The Spring District is a 36 acre environmentally sustainable, transit oriented, mixed use urban neighborhood located on the side of the old Safeway distribution center in the Bell-Red Corridor. This small neighborhood has been designed to help tech companies attract and retain the world’s best talent. Future plans to connect the light rail from Microsoft to downtown Seattle may still be in the works and this 16 city block area will feature commercial, educational, residential and retail projects and shops.
The Dexter Horton Building, a landmark icon located in downtown Seattle was recently sold to Great Eagle Holdings Ltd. of Hong Kong for just over $124.4 million. Named for the founder of the first bank in Seattle, this 15-story building located at 710 3rd Avenue was just recently sold less than 2 years ago to Portland based real estate developer Gerding Edlen. At the time, the building was sold for just over $76.4 million.
According to a recent article in the Seattle Times, King County’s median price of a single-family home was $480,000 for October, 2015, which was 7.3% higher than just a year ago. Tight inventory, slow new home construction and demand are all reasons for the increase in price. in the single family homes and condo listing market, there were 31% lower inventory than a year ago, the widest gap this year so far, according to the local Northwest Multiple Listing Service.
With Facebook’s new move to South Lake Union it will more than quadruple its current Seattle office space. Facebook has agreed to rent 8 out of the 10 floors in the new Dexter Station building located at 1101 Dexter Ave. N. With over 280,000 ft.² of space, this new facility is 4 1/2 times what Facebook currently occupies in the Denny Triangle neighborhood. These eight floors can accompany 2000 new employees. Regardless of the new space, Facebook is assuming they will need even more space, signing an option to take over the remaining two floors if necessary, however this is simply speculation as Facebook spokes people and one of the developers of Dexter Station refused to comment on the intended option.
The word is about the same across the country that home prices are increasing but some markets more predominant than others. In the Puget Sound region the median home value is more than $500,000, however, still lower than many tech-centric cities in California where the median home value is nearly $1 million.
Amazon, one of Seattle’s leaders in economic drive, is not just to creating jobs in their own sector but has created over 28,000 additional non-Amazon jobs in Washington state alone. Since the company moved to the South Lake Union neighborhood eight years ago, it has transformed to the community resulting in a $5 billion windfall for the region in 2014 alone. Jeff Wilkey, Amazon senior vice president of consumer business states that “employees and those employed as a result of the company’s urban location contributed over $400 million in tax revenue to Washington state.”
Salesforce.com has recently announced it will be leasing a Bellevue office space and has proposed plans to double its local workforce. The San Francisco-based company will expand to the Seattle area creating one of the largest engineering centers outside of the bay area.
According to the S&P Case Schiller 20 City Index, Seattle home prices rose faster than the national average in August, 2015. The Seattle average increase .7% compared to the national average of just .1% across 20 major cities in the US and .4% nationally. The major Puget Sound counties of King, Snohomish and Pierce all experienced larger increases than all but three cities on the list.
Patti Payne’s Cool Pads: High-profile bio-techie selling $8.9M Bainbridge Island waterfront estate
Thirteen acres of peaceful perfection – that could be description of this $8.9 million Bainbridge Island estate belong to a very private, high-profile, bio-tech mogul, who has moved with his family to Seattle for his children’s schooling. – READ MORE:
– Staff Puget Sound Business Journal
The term “affordable” is really all relative. When we talk about affordable housing it means that no more than 30% of a person’s income can go towards housing including homeowners insurance, principal and interest and taxes. However, we like to throw around the word “affordable” to appeal to a wide range of potential homeowners. In a recent article by Seattle Magazine, they narrowed down some of the most affordable neighborhoods in Seattle. I’d like to touch on a few of those today.
In a recent article by geekwire.com, Seattle’s hot job market is making Seattle one of the best places to live in the entire US. This hot job market is fueled by Amazon’s record job growth, Expedia’s move to Seattle and our hot real estate market. This means that a lot of tech companies and tech employees are moving to the Seattle area and according to WalletHubs latest survey, Seattle is hot when it comes to being one of the best US cities to live in.
The Bothell based biotech company Seattle Genetics is increasing its $480 million public stock offering to 552 million, exercising its largest ever financing round.
Seattle is Booming! That’s no secret, and with the recent visit from Chinese President Xi Jinping Seattle will even more be the forefront of business and growth. If you’re considering moving to the Seattle area or relocating within Seattle, a recent article by the Seattle Magazine state of the 15 best neighborhoods in Seattle for playing, living, shopping and working. Here are the top 15 best neighborhoods throughout Seattle.
Many real estate agents feel that “now”, whenever that actually is, is always the best time to buy a house. But in a recent article by Realtor.com, there are seasonal patterns for supply and demand. September and October may be some of the best month of the year to purchase a home.
Multiple factors make this time of year optimal when buying property. Here are just some of the reasons September and October are great months for buying real estate.
This week’s visit by Chinese President Xi Jinping has done more for our business in the Northwest than block the traffic. His visit will show a state that is hungry for foreign direct investment business.
Russell Wilson, Quarterback for the Seattle Seahawks, has recently purchased a $6.7 million mansion in the Meydenbauer Bay area of Bellevue. Located along Shoreline Drive, this beautiful estate was previously owned by former Microsoft manager Harish Naidu. Naidu left of the company in 2011 to run a Bellevue campus for Scantron called GlobalScholar. He began working at Microsoft in 1988 and slowly rose through the ranks to become Microsoft manager
Chinese president Xi Jinping will be coming to Seattle on September 23 to meet with business leaders according to the New York Times. Certain representatives from Seattle-based companies such as Facebook, Google, IBM Uber and Apple have been invited to attend the meeting hosted by Microsoft. President Xi Jinping will also meet privately with Microsoft cofounder Bill Gates at his Medina home. After this visit, the president will head to Eastern Washington to meet with Pres. Barack Obama.
Buying and selling a home is arguably one of the biggest decisions you’ll ever make. Find the right home then sell and hope you gain more at the sale than you paid initially. Most of the time homeowners do a little research on their own to get an idea of what their home could be worth. The problem comes when many of these online websites inaccurately estimate the value. This can create quite a conflict when the listing agent proposes a different amount, usually when it’s far below the online estimate.
Little ol’ Kenmore, about 14 miles north of Seattle, plans on resurrecting the old Saint Edwards Seminary into a $50 million national park-style lodge. This 86 year old structure has been a projected site for multiple options over the years but the Daniels Real Estate group plans on spending the next year devising a plan to turn the building into a national park lodge.
A recent article in biz journals states that the average price for a home in Seattle is currently $595,000 less than in Silicon Valley. It’s no surprise that many tech workers are flocking to the Seattle area and this could be one of the main reasons.
Expedia, the Internet travel giant, has recently purchased the existing Amgen campus for $228.9 million with plans to move the headquarters from Bellevue to Seattle in the next two years. Located next to Terminal 91, the Port of Seattle’s cruise ship terminal, the 40-acre, 671,000 square foot campus should be plenty enough space for the growing company but is Seattle ready for the extra traffic?
The newest assisted living retirement facility in the Seattle and Eastside is Aegis Gardens, a 110-unit complex in Newcastle ready to serve Chinese-Americans in a caring and traditional way. This will be Aegis Living’s 38th project with 7 more being planned and constructed in the Greater Seattle area. Over 300 people attended the groundbreaking event this week celebrating the new community designed specifically for the Chinese-American elderly.
Redmond Washington is a city in King County located on the Eastsideof Lake Washington about 20 minutes or 15 miles from downtown Seattle. Is surrounded by Kirkland on the west, Bellevue and Lake Sammamish to the south, Woodinville to the north and Union Hill or Novelty Hill to the east. Its home to about 60,000 residents is one of the fastest growing communities in the state. It is affectionately known as the “Bicycle Capital of the Northwest”.
The millennial generation makes up most of the buyers in the real estate market currently. Knowing what appeals to the millennial generation where home buying is concerned is a very smart move for anyone looking to sell or even to rent a home in the current real estate market. If you want your home to sell you need to have a product the buyer is looking for.
In December the Bellevue City Council unanimously passed a new two year budget of $1.46 Billion. This budget is planned to finance a large list of ambitious improvement projects. This list of projects may be the biggest list of capital projects the city has funded in a number of years.
Home prices in America rose 5.5 percent over last November which was up slightly from the October year-over-year numbers of 5.4 percent. In 2013 home prices rose by double digit percentages rising over wage growth by 2 percent causing for home sales to slow down slightly in 2014 accounting for a slower price growth increase in 2014.
Buying a home was a little more difficult for the average buyer in 2014. There was a tight inventory of home for sale on the market and a large number of all cash buyers but 2015 is looking to be different.
Generally when oil prices go down the price of homes also go down, especially in states with oil producing markets such as Texas, Louisiana, Oklahoma and a few others. Though a decrease in oil prices brings a decrease in home list or asking prices it usually take around two years after oil prices have dropped to see a reduction in home prices in oil producing markets while areas like the Midwest and Northeast may see an increase in home prices.
Just like any other investment opportunity if you are looking to be successful in real estate investing you need to study the current real estate market trends. This means looking at statistics like unemployment, job creation, population migrations, stability of the economy, housing inventory, home prices and rental yields in an area. The most successful real estate investors are the ones who own properties the consumer wants because they know their investment market.
Recently residents from China have topped the list of foreign property buyers in America. In the months of March 2013 to March 2014 Chinese buyers spent $22 billion on American real estate up from $12.8 billion in the previous year. Washington State ranked number two in sales to Chinese buyers behind California.
A property survey gives home owners official answers to the legal boundaries of the property they purchased with their home as well as any easements and other items on the property. Unless you purchased a brand new home with a complete fence along the property line by the builders who divided up the lots and built the home, it is very difficult to tell on your own where your property ends and begins. Even with the fencing there still may be easements or other items that you may not be fully aware of.
If you were to stick the term townhome into a search engine for Seattle real estate chances are you will find two different types of home ownership opportunity. These two different types are known as condominium style townhomes and zero-lot line townhomes.
Last week the Puget Sound Business Journal reported that Chinese builder TeamRise purchased a building site in Seattle’sBelltown neighborhood for just over $20 million. The property is located on the northeast corner of Bell Street and Fourth Avenue. Currently there are two low rise buildings and the historic Franklin Apartments built in 1918 on the property. Randy Lim a representative from TeamRise USA in Pasadena confirmed that the site will be built into condominiums.
Kirkland Named #5 of the Best Place to Live in the US by Money Magazine
Every year Money Magazine comes out with a new list of Best Places to Live in America alternating between small towns and small cities. This year the list is of America’s best small cities to live in. To qualify as a small city on the Money Magazine list the population of a city needed to be between 50,000 and 300,000. To no surprise Kirkland is number five on the list .. Read more why Kirkland is the best!
Bellevue Named #2 in the 50 Best Cities to Live in America
24/7 Wall St. has just confirmed what many residents of Western Washington have known for years, that Bellevue is one of the best cities in America to live in. 24/7 Wall St. concluded its data about the best cities in America to live in by reviewing data gathered by the U.S. Census Bureau of 550 areas with populations of 65,000 or more. Read more…
The Accuracy of Zillow’s Zestimate
Zillow is a very popular website in the real estate world. One of the most popular in fact it is probably safe to say that the Zillow site receives most of online real estate use. Zillow is a good website and there are many useful tools to help buyers and sellers here, but there is one feature on Zillow that buyers and sellers need to be cautious and aware of and that is the” Zestimate”.
Seattle Home Prices Expected to Rise Over the Coming Years
The outlook for housing markets and home prices drastically varies all across the nation. Some markets are still struggling to come back after the great housing crash while others are doing quite well. The Demand Institute recently conducted a study looking into home prices and made their forecasts for the coming years and the Seattle market is looking favorable over the next few years. Read more about Seattle home prices…
What the Term “Eastside” Means in Seattle
If you have been around Seattle long enough or are searching for homes in the area you probably have heard the term “Eastside” also referred to as “THE Eastside” or sometimes “Seattle’s Eastside.” What does this mean? If you were to guess you might come to the conclusion that it could have something to do with a location. Read more about Seattle’s Eastside
Whats the Real Difference between Traditional and Discount Brokers?
Over the last decade the way people buy a new home has changed. With so many websites listing homes for sale online, a whopping 90 percent of home buyers look to the internet first when searching for a new home. With so much of the real estate world available right where your fingertips meet the keyboard one thing has remained unchanged and that is the traditional use ofreal estate agents to negotiate the sale of homes. Read more on the differences…
Newcastle and Kennydale – on the verge of development
Newcastle and the Kennydale area of Seattle’s Eastside are really within the city limits of Renton (Kennydale) and Bellevue (Newcastle), but do share some borders and are essentially their own communities. Nestled along the 405 Corridor just south of Bellevue and north of Renton, These two communities are poised on the verge of several large developments. Read more about Newcastle…
Handy Skills for Homeowners
You did it! You have searched high and low and signed endless pages of contracts and now you are a homeowner. There are so many exciting things that come with home ownership and some not so exciting like the inevitable household fixes that even a brand new home at some point will incur. Too bad there was no manual included with your copy of the paperwork. Lucky for you we have put together a list of handy fix it tips that every homeowner should find useful. Read more on home improvement…
2014 Trends for Outdoor Living Spaces
The outside of your home gives people their first impression of your living space and style. Homes that are tired and worn down generally give a vibe that the owners inside may not have their home on the top of their priority list and that the inside of the home must match the outside. There is a reason curb appeal is a number one factor in homes that sell. If you are looking to spruce up your outdoor spaces here are a few ideas that are gaining popularity this year they might even help you sell faster if you are thinking of moving in the near future –Read more about the latest outdoor living area trends….
Canada’s Immigration Laws Change Shifting interest to Seattle Real Estate
Many immigrants have invested abroad in Vancouver B.C. Canada real estate. Previously the Canadian government allowed for immigrants to obtain a green card granted they invested in the Vancouver economy. With Canada changing its immigration laws this year foreign investors have shifted their interest to Seattle and the Eastside. Read more on immigration…
Many Financial Benefits to Homeownership
There are many benefits to home ownership. Many of the benefits of home ownership are tied into finances even benefitting owners at tax time. Here are some of the financial benefits home ownership can bring. Read about all the benefits to homeownership…
How to determine fair market value
One of the key questions that potential sellers typically ask an agent is, “What is the market value of my home?” Determining fair market value requires experience, knowledge and honesty in finding accurate comparable sales. Fair Market Value…
Moss Bay Neighborhood
Kirkland a town on the Eastside is known for its Lake Washington downtown waterfront location. Kirkland has more lakeside parks and attractions than any other city along the lake. Double the amount of Seattle on the opposite side in fact. Most of these hot spots are inKirkland’s Moss Bay neighborhood.
Seattle’s Backyard Cottages
Homes with small detached living spaces or potential to build an additional living space on the property are growing in popularity in Seattle. Since the city has changed the zoning laws to allow property owners to build Accessory Dwelling Units or ADUs in 2009 there has been a higher demand for homes with smaller cottages in the backyard. These ADU dwellings are known by many different names: backyard cottages, mother-in-law home, guest house, granny flat, pool house, etc – Read more…
Hunts Points and Yarrow Point
Hunts Points and Yarrow Point, known to locals as “The Points”, are two of Washington State’s smallest towns. Even though they are tiny in comparison to Seattle or nearby Bellevue these towns are not the stereotypical American small town. Here you will find some of the most luxurious homes surrounded by the most beautiful views of Lake Washington .. Read more about Hunts and Yarrow Points…
Mercer Island Luxury Homes
Mercer Island is located in the middle of Lake Washington in between Seattle and Bellevue. Mercer Island began as a resort villa for wealthy families with summer homes. The Island was discovered by the Mercer brothers and originally known as “East Seattle” with access only by ferry. The island’s population did not begin to grow until the building of the famous I-90 floating bridges giving easier access to the beautiful lake oasis. Today Mercer Island is a thriving city all it’s own with many affluent community members. Read more about Mercer Island Luxury…
Washington State’s Largest Employers
Washington State is home to many large companies’ headquarters and biggest operations. Most of Washington’s largest employers are on the western side of the state in the Puget Sound and Seattle Area. In 2005 Forbes magazine named Seattle the most expansive city for buying a house and recently in 2013 Seattle is still in the top ten on that same list. Seattle was also among the top ten cities with favorable climates for business expansion. It is no surprise that amongst the list of biggest employers there are many Fortune 500 companies. Read more about the largest employers in Washington State…
Fannie Mae Home Buyer Incentives
Fannie Mae has just released an announcement that they will help buyers with closing costs when they purchase a Homepath property. This incentive is valid when homeowners purchase a Homepath property during what is called the First Look Period. Fannie Mae will offer up to 3.5% in closing cost assistance. Read more about this incentive..
Kirkland New Construction Homes
Kirkland is a town on the east side of King County north of Clyde Hill Founded by Peter Kirk for which Kirkland got its name. Peter had a vision that Kirkland would be the “Pittsburg of the West” a town centered around a steal mill where executives and steal workers lived alongside each other in the same neighborhood. Despite the mill only running a short time the city began to grow. Today Kirkland is home to high tech companies such as Google. Costco got its start in Kirkland after which they named their store brand products “Kirkland Signature”. Some popular neighborhoods are East of Market, West of Market, and downtown near the waterfront. Read more on Kirkland new construction…
New construction in West Bellevue
Bellevue is a city just east of Seattle on the opposite side of Lake Washington. Bellevue once a suburb of Seattle has grown significantly to become its own thriving city. Bellevue lives up to the meaning of its name “beautiful view”. There is so much this beautiful city has to offer, the most popular and prestigious area of Bellevue is West Bellevue here you will find the Medina, Clyde Hill, West Bellevue, and Enatai neighborhoods. Read more about new construction…
Seattle Seahawks are the Champions!
This year’s Super Bowl was a matchup of the two best teams in football. The Denver Broncos and the Seattle Seahawks. Most of the nation believed the Broncos would pull off the win, however Seattle has the best fans in the nation known as the 12th man and they never doubted the Seahawks could pull out a victory. Read more about how Seattle is now even more on the map…
Green Home Building and Green Built Homes in the Puget Sound
The Puget Sound area is one of the most beautiful places on the planet. Tall evergreen trees everywhere, clear blue water, and gorgeous snow capped mountains. Residents of western Washington love the nature they live in and it is beginning to reflect in the homes being built. Read more on Green Building…
There are many great festivities in the Puget Sound area that celebrate Chinese New Year
It is that wonderful time of year again, time for Chinese New Year or Spring Festival. 2014 is the year of the horse. The horse is a wonderful animal symbolizing speedy success and travel. The most admirable and striking trait of people born in the year of the horse is their self-confidence and as such the year of the horse is a time for all people to go into the new year confidently pursuing their goals and dreams just as the horse gallops strongly at top speed to its destination. Read more about the Chinese New Year in Seattle…
The Bellevue Towers – Experience Luxury
Bellevue Towers is a premier luxury condo building in the heart of downtown Bellevue. The building is made up of two high-rise towers and is the largest LEED Gold certified residential building in the Northwest. Bellevue Towers offers luxury living close to all the amenities of downtown Bellevue. Read more about the Bellevue Towers…
Win for Seattle! Seahawks go to Superbowl
Last night the Seattle Seahawks faced off against their “cross-town rival” the San Francisco 49er’s for the National Football Conference championship title and a spot in this year’s Super Bowl. Both teams played hard and it was a nail biter to the finish for both teams and their fans but in the end the Seahawks came out victorious.
Chinese Overseas Real Estate Investments
Hong Kong has tightened the laws on real estate making it more difficult for Mainland Chinese to invest. With these tougher laws in place many Chinese investors have become more interested in investing overseas. One recent hotspot among Chinese investors is Bellevue, Washington USA. Read more on investments overseas…
Chinese Buying Homes Abroad
Many Chinese have seen the benefits of buying homes abroad. Among some of the most alluring cities are the ones welcoming Chinese into the community. Bellevue Washington USA is one of those cities. Read more…
Mayor Conrad Lee welcomes Chinese to come and see what Bellevue has to offer. With an EB-5 visa investors are able to take up residence in America. Bellevue is quickly becoming a hub for Asian fashion and investors. Bellevue has two branches of EastWest Bank and great real estate agents affluent in Chinese to help make buying abroad as easy as possible. Read more about buying abroad…
Chinese-American Bellevue Home Buyers
Belleuve is a wonderful city full of culture, job opportunity, and some of the most beautiful scenery in the Pacific Northwest. Bellevue has a wide selection of neighborhoods and home types to offer every buyer. With so many different options it is beneficial to have a buyer’s agent that is experienced with the local market and can relate to what you value and find important. Read more about Bellevue Buyers Agent…