The firm is independently owned by Aroza Sanjana and Jose F. Nunez and serves the Brooklyn, N.Y. market from two locations.  This marks our brand’s first Brooklyn locations.  Under separate ownership, Sotheby’s International Realty, Inc. has two offices in Manhattan.

Please see the press release for more information and join us in welcoming Warren Lewis Sotheby’s International Realty to our network!

Welcome to the first edition of Perspectives, a quarterly newsletter on the global luxury real estate industry straight from the source: Sotheby’s International Realty® professionals from more than 600 offices located in 45 countries and territories worldwide.

This issue takes you around the globe, with key insights on markets from the United States’ east and west coasts to France and the United Kingdom. Also showcased is our network’s recent significant sales and extraordinary listings from Rome and Canada to Hawaii. For those on the sidelines, now is the time to consider investing in the future. There is perhaps no better time than the present to search for your ideal first, second or third home. The reason? In many real estate markets around the world, a palpable optimism is returning. The combination of attractive pricing and a strengthening economy have laid the foundation for making valuable investments. As you will see in this issue of Perspectives, many of our firms are proudly marketing homes that are unique and significant in their respective markets. And we are observing that to be the case in many areas across the globe.

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This achievement demonstrates why we’re part of the Sotheby’s Real Estate Network — we’re associated with a brand dedicated to successfully marketing some of the world’s most significant and treasured possessions.

Watch the specially produced Auction House Video.

“We’ve seen appreciation three months in a row, signaling a definitive turnaround in the market,” remarked Northwest MLS board member OB Jacobi. “Due to the shortcomings in the Case-Shiller index, I think it will take them until November to report year-over-year appreciation,” he added.

“As is fairly typical of a recovering market, the activity first heats up in the urban centers, and then spreads to the surrounding suburbs and outlying areas. We are now seeing this trend,” noted Jacobi.

Tight inventory has created sellers’ markets in some areas, according to reports. Inventory is down 27% overall, and most notably down 46.2% in Snohomish county, down 39.4% in King and Pierce is down 28.6%. As demand outweighs supply competition may even intensify, especially for those homes well priced and in good condition or desirable locations.

Low inventory and favorable interest rates are being credited for current activity. Joe Spencer, MLS director, said “As Yogi Berra said, ‘It’s like deja vu all over again’ as the Puget Sounds real estate market continues trending in the same positive direction for the fourth month in a row.” With new and available inventory in a diminished state, he said there’s been a strong in crease in buyer activity. “Low interest rates continue to energize buyers, while for sellers, prices in the Puget Sound are stable and up in areas close to job centers,” according to Spencer.

Darin Stenvers believes the housing industry is recovering on its own, citing double-digit decreases in inventory for the past several months and a corresponding rise in pending sales as key indicators.

“It’s a slow process, but I expect it will continue for the balance of 2012 and through 2013,” Stenvers said, noting he anticipates a return to home value appreciations in most markets by mid-2013. He also predicts consumer confidence will hold interest rates down through the fall elections and into 2013.

• consumer confidence is on the upswing
• unemployment is decreasing
• interest rates are low
• the economic news is mild
• there are more buyers than sellers – a high-demand, low-inventory market

Lynn Franco, director of The Conference Board Consumer Research Center, attributed the improvement in consumer confidence in February to less pessimism about current business and employment conditions and more optimism about the short-term outlook for the economy and job prospects despite a rise in gas prices. Franco said the moderate decline seen in March was “due solely to a less favorable short-term outlook.”

Interest rates are currently at historic lows and are expected to stay low for the rest of the year. Even with low rates, buyers have had difficulty qualifying due to rigid mortgage approval underwriting.

Analytics firm Capital Economics expects the housing crisis to end this year partially due to lenders loosening credit. According to Capital Economics, one indicator of loosening is that banks are now lending 82 percent of loan-to-value (LTV), compared with a low of 74 percent LTV reached in mid-2010. This means qualified buyers need less cash to buy, which should lead to more sales this year.

These positive indicators combined with a drop in homes for sale at the end of 2011 and a decrease in unemployment  provides a great opportunity for sellers in spring 2012.

Price: $6,950,000
City: Seattle
State: WA
MLS #: 173831
Square Feet: 10,095
Bedrooms: 6
Bathrooms: 7

Additional Features: All concrete self-contained vault room with biological and nuclear filtration, home automation system, generator, security cameras, many more.

One of a Kind Mansion — no comparisons in the greater Seattle area! A magnificent estate spread across six city lots that cover over an acre of perfectly manicured grounds. The property is surrounded by hedges and secured by a sophisticated, multifaceted state of the art security system. Insured for more than 11 million dollars not including the 21,425 square feet of land. Stunning craftsmanship and the finest luxury materials. All new systems are commercial grade quality systems throughout. All in grand European style.

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Download the latest issue of Significant Sales, showcasing the more recent top 30 sales in the Sotheby’s International Realty® Network.

Noteworthy sales for the month include a stunning mansion in San Francisco, a spectacular property in Aspen as well as Blue Heron Farm on Martha’s Vineyard. In addition, top sales were recorded in Bermuda, Naples, Westchester County, the Hamptons, England and Quebec. We congratulate both the sales associate and affiliates for their success.

Congratulations to all the extraordinary firms represented in the January issue!

Significant Sales Past Issues Archive

We are pleased to announce the opening of Israel Sotheby’s International Realty. The firm’s owners, Tomer and Isidora Fridman and Orna Gotslak, will first serve the Tel Aviv market from their existing office in Givatayim.  They plan to open a second location in Tel Aviv later this year that will serve as their main office.  The team has an exclusive 25-year master franchise agreement with our brand for Israel and plans to also open additional offices in key markets across the country over the next several years!

Please see the attached press release for more information, and join us in welcoming Israel Sotheby’s International Realty to our network.

We are pleased to announce Williams Trew, a leading residential real estate firm in Fort Worth, Texas, has officially opened and is now doing business as Williams Trew Sotheby’s International Realty.

The firm is owned by Martha Williams, Joan Trew and Marshall Boyd, and serves the greater Fort Worth market and surrounding areas.

Please join us in welcoming Williams Trew Sotheby’s International Realty to our network!

The December issue features the record sale of the spectacular St. Regis penthouse in San Francisco, as well as a stunning penthouse in Miami.  The Most Exceptional Sales of 2011 highlights Point of View in Greenwich, Conn., as well as extraordinary properties in London, San Francisco, Palm Beach, Hawaii, Aspen, Martha’s Vineyard, Bermuda, New York and the Bahamas.  These top sales underscore the vitality of the luxury real estate market on a global basis and are a tribute to the quality of the fine companies that represented them.  It also is important to note that there were many high-priced, significant sales last year that due to confidentiality agreements could not be included.

Congratulations to all the extraordinary firms represented in the December and 2011 issues!

Significant Sales Past Issues Archive