Wall Street Journal & Realogics Sotheby’s International Realty Shed Light on Trend of Wealthy Chinese Buying US Real Estate for Students

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In the current Mansion section of the Wall Street Journal, reporter Alyssa Abkowitz studies the trend of affluent Chinese buying homes in the US with the anticipation of their children attending school there or in some cases, a reward for graduating with hopes of setting roots and living a more modern version of the American Dream.

The article featured contributions by Dean Jones, Owner of Realogics Sotheby’s International Realty who has been active in cultivating

A rendering of 1321 Seneca, a planned 24-story condo tower in Seattle’s First Hill neighborhood, an area being marketed in Asia as student friendly.

A rendering of 1321 Seneca, a planned 24-story condo tower in Seattle’s First Hill neighborhood, an area being marketed in Asia as student friendly.

relationships in Asia and was recently announced as the Network Director of North America for Beijing Sotheby’s International Realty.  In addition to representing his global realty network at the Asian Real Estate Association of America this weekend at the Global Luxury Summit in New York City, Jones will be representing select markets at the Beijing Luxury Property Show in May.

“The real estate axiom overseas isn’t Location, Location, Location,” says Jones.  “It’s Location, Education, Environment.  The Seattle area has it all with the closest mainland port to China, renowned public and private schools and of course, fresh air and a culture of health and wellness, not to mention no state income taxes.  The Chinese know that they can send their kids here for school with confidence that they’ll graduate with honors, secure a job in quick order and can still afford to buy a home and raise a family without restriction.  That’s not all possible in China and increasingly more difficult in other West Coast markets where jobs and homes are just out of reach for many.”

The WSJ article also featured a new Seattle condominium development on First Hill known only as 1321 Seneca Street but is already being singled out as an attractive proposition for overseas families, in part because of its walkability to Seattle University and a new light rail connection to the University of Washington, says Jones.

“It may surprise some that the University of Washington has 20% of its freshman class attending from other countries and more than half are from China,” adds Jones.  “It ranks #16 on the Shanghai Ranking System for academics among world universities and culturally, the Seattle area is known as being a melting pot of international cultures and opportunities.”

In-city condominiums are of particular attraction because of their proximity, security and investment quality – especially for presale opportunities, says Jones.  The problem however is that among the 20,000 new multifamily units planned or under construction within the urban neighborhoods in Seattle fewer than 1,000 are slated to be condominiums.

According to research by Realogics Sotheby’s International Realty (and others), only Insignia by Bosa, The Residences at Fairview and now 1321 Seneca are announced as being new construction supply in the for-sale segment.

ARTWALK is Back in Belltown and Kirkland Friday, April 11

ARTWALK

Spring is here, the sun is out and so are the connoisseurs of art.  Making its much anticipated comeback in Belltown and Kirkland is Artwalk – a neighborhood partnership of businesses, artists and local residents that gather to enjoy an evening of culture and connection.

“We couldn’t be more proud to be members of the local community and to support Artwalk,” says Stacy Jones, Owner and Vice President of Realogics Sotheby’s International Realty.  “Bringing art and people together is a passion shared by our company, the artists and the patrons alike.”

Don’t miss this community celebration on April 11th as follows:

KIRKLAND ARTWALK – 5-8pm

BELLTOWN ARTWALK – 6-10pm

Belltown Art Walk Map

Belltown Art Walk MAP

Now showing at The Connoisseurs of Life Showroom at 15 Lake Street in Kirkland

 

FEATURED ARTIST:  Lisa Corbett

DSC_0240Lisa Corbett began the initial phase of her creative career as a modern dancer and was co-founder, co-director, choreographer, performer, and instructor for a Northwest modern dance company.  Soon after being awarded The Artist Trust Foundation grant for choreography, Lisa completed her M.S. degree and lived, worked, and traveled in China.  This background and experience provide a framework from and through which her work emerges.  Lisa paints in acrylics and believes the intensity of colors, the modernDSC_0263 context of acrylics, and the immediacy of their nature, coincide with her philosophy of living in, capturing, and expression of moments and impressions.  Concepts derived from dance that are incorporated in her work include breath, movement, energy, flow, composition, dynamics, and balance. As Lisa paints, her interaction with the canvas is reminiscent of dance improvisation, and each work is a unique and vibrant choreography.  In addition, Lisa’s travels in various Asian, and other, countries also provide an influence in her art, as she integrates philosophies of Feng Shui, and cultural concepts into her pieces.

 

FEATURED BAND:  The Boom Booms

Playing at the Belltown Community Center at 415 Bell Street between, The Boom Booms are going to rock Belltown live 8-10pm – join your neighbors from Vancouver, BC as this rising star descends upon Seattle with special thanks to BOSA Development who are building the inspiring Insignia Condominiums in Belltown.

boom boom pic

The Boom Booms began in BC’s glamorous tree-planting camps. Planting trees by day and creating and performing music by night for their tree-planting posse was a typical spring season for the childhood friends. Once the season ended, they kept the momentum going by producing their very own neighborhood block party. The “Boom Boom Block Party” became a summer highlight for East Vancouver residents for four years and raised over $20,000 for organizations such as Environmental Youth Alliance (EYA); Contributing to Lives of Inner City Youth and The Music Tree, a not-for-profit foundation that is dedicated to raising awareness of ecological community projects through fundraising concerts and events. Co-founded by Aaron Ross and supported by The Boom Booms, The Music Tree is committed to “greening” the planet by inspiring people to get involved in community building and self-sustainability.

The Boom Booms have built a loyal fan base that stretches across generations. The video for their feel-good party anthem, “When the Night”, reached #6 on the Much More Music chart in 2008 and was optioned for an episode of 90210. “Delivered”, a surreal banjo ballad that conjures up images of a jungle river baptism, garnered an award for Best Roots Song at the Just Plain Folks Music Awards in Nashville.