Buying luxury waterfront real estate is a significant investment, especially here in the Pacific Northwest While price is a crucial consideration, there are other factors that should be taken into account. Here are some essential factors to keep in mind when buying luxury real estate.

Favorable tax laws, a high quality of life, and diversified economies are providing a buffer against economic uncertainty in 2023. Moreover, a lack of housing inventory, persistent supply-chain disruptions, and the increasing cost of materials are helping to maintain home prices, even in markets where sales activity is returning to pre-pandemic levels. This is creating a stable environment for buyers and sellers alike, allowing them to navigate the real estate market confidently.

What a difference a few months can make! We began the year in one of the most competitive real estate markets in recent history, bolstered by low interest rates and low inventory which led to escalating competition and over-list-price offers. Then everything changed in the Spring as the Feds began to raise interest rates faster than ever to combat inflation. Below are some stats and my thoughts on some of the questions my clients most frequently ask.

After the initial quarantine of the pandemic, many analysts commented on the outlier trend of residential housing sales. An examination of the data from the Eastside to Bainbridge Island and other areas by Realogics Sotheby's International Realty one year later shows that the lack of inventory and the flood of purchasers was not an isolated incident.

Sotheby's International Realty is thrilled to announce that at the 2021 Inman Luxury Connect conference, Sotheby's International Realty was selected Top Luxury Brokerage by Inman. This distinguished honor is a monument to the brokerage and real estate professionals that have helped to make Sotheby's International Realty a force in the luxury real estate market.

Reside Realty Ltd. has joined the network and will now be known as Jamaica Sotheby's International Realty, according to Sotheby's International Realty. The move signals the brand's continuous expansion in the Caribbean, and it comes at a time when secondary and resort markets are seeing growing interest.

This month, leaders from Realogics Sotheby's International Realty (RSIR), Sotheby's International Realty® (SIR), and Ste. Michelle Wine Estates (SMWE) gathered at Chateau Ste. Michelle in Woodinville to celebrate partnerships, support, and an incredible team responsible for extending connections across the Sotheby's network and our Puget Sound community.

The real estate market had a great start this year. Low inventory, rising median home sales prices, and short time on the market continued these patterns in the second quarter of 2021, putting sellers in the driver's seat. Each quarter, Realogics Sotheby's International Realty analyses five significant areas to see where the market has been and where the trends are leading us.

Realogics Sotheby's International Realty (RSIR) and famous Washington winemaker Ste. Michelle Wine Estates recently unveiled the Blend by Ste. Michelle, a new showroom and immersive wine tasting experience area. This is the second social gathering venue built by the innovative real estate brokerage on Seattle's fast-growing Eastside in the last year, following the launch of B•Bar, an all-day coffee bar, restaurant, and piano bar that fronts Realogics Sotheby's International Realty's branch office on Old Main Street in Bellevue.

Buyers are repopulating urban areas. After the COVID-era slowdown, there is a surge in demand for resale, new construction condominiums, and waterfront homes. Realogics Sotheby's International Realty (RSIR) executives saw a sharp increase in buyer demand as inventory fell dramatically in the first half of 2021 compared to the previous year.

Welcome St. Kitts & Nevis Sotheby’s International Realty! With the inauguration of Sotheby's International Realty in St. Kitts and Nevis, Sotheby's International Realty is increasing its footprint in the Caribbean. The acquisition marks the brand's continuous expansion in the Caribbean, bringing the total number of offices in the region to roughly 30. The announcement comes at a time when the Caribbean market is booming, thanks to rising interest in second homes and investment properties fueled by the ability to work remotely.

S&P Dow Jones issued their April 2021 CoreLogic Case-Shiller Home Price Index as Seattle sweltered under the heat dome in late June. The index revealed historic residential price increases across the board, with just Chicago falling short of a 10% year-over-year increase. Seattle and San Diego, with gains of 20.2 percent and 21.6 percent, respectively, continued to outperform their West Coast counterparts.

These are the days that keep us going in the Pacific Northwest amid the darkest days of January and the persistent drizzle of March: summertime. It's finally that time of year, with the bluest hues across the sky and the shimmering sea of the Puget Sound, Lake Washington, and beyond.
Our real estate market, too, is feeling the heat. Buyers looking to take advantage of record low borrowing rates have descended upon the market, and a scarcity of inventory has favored sellers who are frequently faced with several offers.

The brand continues to have more sales associates than any other real estate company in the rankings year after year, accounting for 20% of the category in 2021. The Annual Report rates the top 1 000 residential property agents and teams in the USA on the basis of their annual sales and transaction volume in 2020. In the REAL Trends individual sales volume category, Sotheby's International Realty claimed 50 of the top 250 sales associates.

Sotheby's International Realty announced that their website, sothebysrealty.com, was selected Best Real Estate Website in the People's Choice Category of the 25th Annual Webby Awards.The Webby Awards, presented by the Worldwide Academy of Digital Arts and Sciences (IADAS), are the main international awards organization honoring achievement on the Internet and have been dubbed the "Internet's highest honor" by The New York Times.

For Tax Day, executives from Realogics Sotheby’s International Realty (RSIR), Caliber Home Loans, and O’Connor Consulting Group released research demonstrating that new tenants who chose to live in brand-new, luxury apartments rather than purchasing a similar condominium had paid more than $50 million in unrecoverable lease payments (or $218,983 individually) over the last decade. Meanwhile, the average renter lost out on an estimated $288,934 in average capital appreciation over the same time period, as well as $9,228 in income tax deductions in 2020.

Realogics Sotheby's International Realty is releasing two reports this year to help buyers and sellers in the Puget Sound real estate market make informed decisions. To begin, the 2021 Exclusive Report examines how Seattle's burgeoning and diverse economy has fueled unprecedented development and population growth, indicating a clear urbanization trend.

In February 2021, after five months of close calls, San Diego's residential prices finally surpassed those of Seattle on the Case-Shiller Home Price Index. Despite this, prices in the Central Puget Sound region rose by more than 15%, and all but two cities on the index (Chicago and Las Vegas) experienced double-digit year-over-year increases

As home prices in the Seattle metro area continue to rise, affordability has become an increasingly elusive goal, as has timed the market for developer incentives and today's historically low, but rising, interest rates. According to The Seattle Times, condominium sales in Seattle increased 121.2 percent year over year, while median prices increased 4.5 percent compared to April 2020.

Good morning, RSIR Nation! I'm curious to see if history will repeat itself. A century ago, America rolled into one of the most transformative eras of economic growth and lifestyle pursuits with the first world war over, a booming stock market, integration of consumer debt products (leverage) and new innovations. This was the birthplace of many personal liberties, good times and prosperity. A lot of the convenience was brought by the mechanical devices that made life better. American cities flourished.