This week, more than 100 Windermere brokers from all over the Puget Sound area came together to discuss the local luxury real estate market, premier their newest luxury listings, and hear from featured speaker, Matthew Gardner, Chief Economist for Windermere Real Estate.
Matthew Gardner gave a lively and engaging presentation on the regional economy and housing market, and how they compare nationally. He spoke of the impact that the technology sector is having on Seattle area housing, as well as King County’s population, which has grown by more than 50,000 since 2011. He said that more and more Silicon Valley-based tech companies are looking at Seattle in order to keep their employees happy, including Apple, Facebook, Google, and others. For some, the lifestyle and relative affordability is seen as a much better choice than cities like San Francisco where even the highest paid employees simply cannot afford to buy a home.
Matthew also discussed the Millennials who he says are incorrectly described as being the “renter generation”. Instead, he said that many of them are delaying their home purchases because of student debt and lack of choice in the current market. But 2016 saw a significant increase in the number of Millennial buyers in Seattle, and he expects to see even more in 2017.
In terms of what to expect in the luxury housing market in the coming year, Matthew says it will generally parallel what we’re seeing in the rest of the market. Competition from Seattle’s growing wealthy population is causing homes to sell quickly and driving up prices. Furthermore, interest rates for jumbo loans remain historically low, making it more accessible for buyers to access large sums of money to purchase higher end homes.
This week, more than 100 Windermere brokers from all over the Puget Sound area met at Broadmoor Golf and Country Club to discuss the local luxury real estate market, premier their newest luxury listings, and hear from the featured speaker, Stephanie Pfeffer Anton, Executive Vice President of Luxury Portfolio International. Stephanie discussed a number of things related to luxury consumer trends, but her insights into the younger generation of luxury homeowners were especially interesting.
Wealthy Millennials have predominantly grown up in affluent homes. They know luxury brands very well and, for the most part, are not enamored by them. For them, money buys more than a luxury home or luxury car: It buys time with friends and family, and having amazing experiences that they can share with each other. This behavior is likely even more commonplace in an area like Seattle where understated affluence is the status quo amongst the area’s wealthiest residents.
The top three priorities of young luxury homeowners are travel, dining, and real estate – in that order. Their desires for a luxury home are somewhat different than their Baby Boomer parents before them. For instance, in a world of social media, reality television, and constant internet access – and the attention that it brings – their number one priority in a home is privacy. But that’s not all. According to a study by Luxury Portfolio International, these are the top five amenities that younger generations look for in a luxury home:
- Large Master Suite with amazing bathroom
- Energy Efficient/Smart Homes
- Sustainable Living (convenience without wastefulness + social good)
- High-end kitchen appliances
Windermere is a proud member of Luxury Portfolio International, an exclusive affilition that enables us to market our $1 million+ listings to the largest network of independent real estate firms in the world. For more information about Luxury Portfolio please visit LuxuryPortfolio.com.
On Wednesday, October 5, more than 150 brokers from all over Western Washington gathered at Broadmoor Golf and Country Club for Windermere’s monthly Premier networking breakfast.
The breakfast opened with brokers presenting the newest luxury homes throughout the Puget Sound area. Following that, Windermere President, OB Jacobi, and Vice President of Windermere Luxury Division, Leigh Canlis, presented a sneak peek of a new ultra-luxury brand, which will be unveiled to the public on November 1, 2016.
The introduction to the new brand was met with excitement among the brokers, as it will give Windermere a continued edge in the elite world of luxury home real estate. With a dedicated website and customized marketing materials, the new brand will further enhance the ability for Windermere brokers to showcase their top-tier listings in an elevated manner, while leveraging the successful partnerships Windermere enjoys with Luxury Portfolio, Leading Real Estate Companies of the World, and Juwaii. Additional marketing and advertising initiatives were detailed and the response from brokers was overwhelmingly positive.
We appreciate all the Windermere brokers who attended this month’s Premier Breakfast, sharing both their listings and extensive knowledge of luxury markets throughout Western Washington.
Today, the Puget Sound Business Journal exclusively announced the launch of Windermere’s new ultra-luxury brand, W Collection. Spearheading the W Collection is Leigh Canlis, Vice President, Luxury Division of Windermere, who joined the company in February.
Canlis said, “W Collection is much more than a luxury marketing program, it is like the American Express Black Card of real estate. “W” is a high-touch concierge service that not only markets luxury listings, but connects Windermere brokers and their clients to every aspect of the luxury industry.”
The new division will focus on homes priced at $2.5 million and above in Seattle and $3 million and above on the Eastside, and the top tier brokers who work in this arena.
Read Patti Payne’s entire story in the Puget Sound Business Journal.
On Friday, June 24, Seattle Art Museum (SAM) hosted its annual fundraiser, Party in the Park, at the Olympic Sculpture Park. This much-anticipated dining event is a chance to take part in one of their largest fundraisers to benefit exhibitions and public programs. Windermere Real Estate was proud to sponsor an Artist’s Table at this year’s event. Our agents in attendance were treated to a table that was decorated by renowned jewelry artist Rachel Ravitch, as well as a delicious meal prepared by Daisley Gordon, Owner and Executive Chef of Café’ Campagne.
Barbara Cahill, Jan Selvar and Ty Evans
Hot off the presses – the new issue of Windermere Living is available today at your nearby Windermere Real Estate office or read it online HERE.
On June 9, more than 100 Windermere agents set sail on an Argosy cruise for a guided tour of luxury waterfront homes around Lake Washington.
With food, libations and conversations flowing, Windermere agents from all over Western Washington were given a unique preview and perspective of some of the remarkable homes on last weekend’s 2016 Waterfront Home Tour.
Listing agents were able to share key information regarding the space, amenities and lifestyle offered by each home, making it an educational tour as well as a boat load of fun.
2428 Montavista Place W
$3,200,000 | 4 Bed | 3.5 Bath | 4,021 SQFT
This epic Magnolia home is nothing short of amazing. With breathtaking views everywhere you look, it’s like sitting on a perch happily taking it all in; from downtown to Bainbridge Island. The attention to detail in this home starts at the front door and never seems to end. Not only is it landscaped beautifully, but it is also low maintenance. With a wine cellar, gourmet kitchen, and fabulous entertaining spaces, the only problem you’ll have at this residence is trying to get your guests to leave it.
See more of this majestic home on Windermere.com.
17765 Beach Dr NE
Lake Forest Park
$3,875,000 | 5 Bed | 4.25 Bath | 5,030 SQFT
This Mediterranean inspired estate is the definition of a “jaw-dropper”. If you were to grab a dictionary right now and look it up, you’d find a picture of this home. Tucked away on a private waterfront lot on the north end of Lake Washington, everything about this home screams luxury. The European influence drips from floor to ceiling, and the spacious floor plan is clearly designed to allow for grand scale entertaining, which explains the Chef’s kitchen packed with Wolf appliances, granite counters, and custom cabinetry. We’re thinking the parties here would give Gatsby a run for his money.
See more of this beautiful home at Windermere.com.
2642 W Viewmont Wy W
$2,208,000 | 4 Bed | 4.25 Bath | 3,880 SQFT
Summer is now in full-swing and it’s the time of year when many of us wish we had a bigger backyard and outdoor living space. Well, we’ve found the perfect solution in Magnolia. Can’t you picture your kids running around on that grass while you’re lounging in the sun with a good book? With both covered and open spaces, it’s also great for outdoor entertaining. This charming home just hit the market with a completely redone modern interior that still has a warm feel to it. And don’t even get us started on the master suite – it’s absolutely decadent. It’s a hot market out there, so get your hands on this place while you still can!
You can check out photos and learn more about this home on Windermere.com.