I was born and raised in Beijing, but I have traveled all across the world. In my role as a top producing broker at Realogics Sotheby’s International Realty, I specialize in residential and commercial real estate with exceptional experience in navigating international buyers relocating or investing from China. I am a found member of the RSIR Asia Desk in downtown Kirkland and am passionate about sharing my knowledge on Asian cultures with our team. To bridge Chinese and American cultures in business is both challenging and rewarding!
Realogics Sotheby’s International Realty presents a look at the housing market trends for the first quarter of 2018, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
Seattle | Single Family Homes
Seattle home prices remained red hot in the first quarter of 2018, as the median sales price reached $917,000, up over $30K from the final quarter of 2017 and 14.2% year-over-year.
View report here.
Eastside | Residential
A shortage of homes available continues on the Eastside, as the average days on market decreased by 5 days to just under one month with the average sales price up 13.2%.
View report here.
Bainbridge Island | Residential
Bainbridge Island continues to attract buyers, as the number of homes sold was up just over 28% from Q1-2017 despite a sharp 60.7% inventory decrease.
View report here.
Seattle | Condominiums
Condominiums in Seattle continue to attract buyers as the average days on market in Q1-2018 was 15 days, down a staggering 34.8% compared to the first quarter of 2017.
View report here.
Seattle's most trusted EB5 project is looking for great investors!
Click below to read report or go to http://www.seattlefamilyregionalcenter.com/news/ to view all of the updates.
I would love answer any questions you may have about this project. Please contact me. Call Lili Shang +1 206 295 3153 or email me Lili.Shang@RSIR.com or fill out form with questions. I look forward talking to you.
This year, Seattle surpassed San Francisco as the second place in the world where Chinese millionaires most want to live. But critics say the threat of foreign investors could worsen Seattle’s already exclusive market.
If you could pick anywhere in the world to live, where would it be?
For a lot of Chinese millionaires, the answer is: Seattle.
On a wish list of global destinations, Seattle has surged into the No. 2 spot for well-off folks in China who are hoping to relocate, according to a new report.
Each year, Shanghai-based Hurun Research surveys hundreds of Chinese millionaires who are either thinking of leaving, have already begun the emigration process or have recently made the move. About 12 percent picked Seattle over any other place this year. Los Angeles, the top choice for about 18 percent, is No. 1.
Seattle has been steadily rising up the rankings since debuting as the sixth-most-desired immigration destination in 2014. This year, we knocked San Francisco out of the No. 2 spot.
The survey respondents are affluent — they have an average net worth of about $3 million — but not among China’s superrich. So value is a top priority for them, and that helps explain Seattle’s appeal, says Dean Jones, owner of Realogics Sotheby’s International Realty, who estimates that half of his home sales in select Eastside markets are to buyers from China.
Many residents of the United States may not realize just how different the lending process is in other parts of the world. Not to say one process may be better than the other; but it may be in the interest of the Western world to start paying attention to those moving ahead of the status quo. The biggest variation from what those in the States may feel is common practice is the change that has occurred in China, India, and Southeast Asia.
Real estate data suggests that the number of foreign purchases in the Puget Sound region is increasing. An uncertain but growing portion of homebuyers appear to be headed this way from Vancouver, British Columbia, in the wake of a recent —and unfavorable — tax change.
At the end of the year, Realogics Sotheby’s International Realty creates a list of the top 10 buyer sales where an RSIR broker represented the buyers
I was fortunate enough to represent many wonderful clients in 2016, including the buyers of a modern masterpiece in the desirable Clyde Hill area which sold for $2,900,000 and was featured on the RSIR top 10 buyer list.
There’s been a large increase this year in Chinese buyers looking for property in the Seattle area, and a new tax on foreign buyers in Vancouver, B.C., is expected to amplify the trend.
By Mike Rosenberg Seattle Times business reporter
A growing wave of money from China and other foreign countries is pouring into the Seattle-area housing market, helping drive home prices even higher. And since July a new tax on international buyers in Vancouver, B.C., long a popular market for home seekers from China, has focused even more global interest here.
Seattle saw more inquiries from mainland-Chinese homebuyers than any other American city in four of the last seven months, according to Juwai.com, China’s biggest real-estate site for buyers looking in North America.
Historically, Seattle had attracted less real-estate money from China than Los Angeles, New York and San Francisco.
But the region’s upward shift only accelerated after British Columbia enacted a 15 percent tax on foreign buyers in the Vancouver metro area. Searches by Chinese home seekers for Seattle have more than doubled, while they’ve been cut nearly in half in Vancouver, Juwai says.
Just a few days after Vancouver announced a tax on foreign property investors, Seattle real estate broker Lili Shang received a WeChat message from a wealthy Chinese businessman who wanted to sell a home in Canada and buy in her area.
After a week of showings, he purchased a $1 million property in Bellevue, across Lake Washington from Seattle. He soon returned to buy two more, including a $2.2 million house in Clyde Hill paid for with a single cashier’s check.
Shang says she’s been inundated with similar requests from China and Hong Kong after Vancouver’s provincial government enacted a 15 percent tax on foreign homebuyers in August to help cool soaring real estate values. With Chinese investors -- the largest pool of foreign capital -- looking for a place to put their cash, the unintended consequence of the fee has been to push demand to cities such as Seattle and Toronto.
“The tax was the trigger of this new wave of investment now coming to Seattle," Shang said. “Why pay more for the same thing?"
For Vancouver investors, Seattle is a lure because it’s a waterfront city just a few hours away by car. It’s also more affordable than other West Coast destinations. Toronto, as one of the world’s financial capitals, already has an established base of foreign investment in condominiums and a large Asian population.
“Chinese money isn’t going to sit and wait," said David Ley, a Vancouver-based professor at the University of British Columbia’s Department of Geography, who focuses on housing. “Investors are going to find another city," and Toronto and Seattle are the top two contenders, he said.
Unique Somerset Custom Home, Listed by Lili Shang & Lisa Woolverton, Winds its Way onto Curbed Seattle
According to Sean Keeley from Curbed Seattle, “Unique Custom Somerset Home,” listed by Lili Shang and Lisa Woolverton, “Has Curves In All The Right Places.” Beginning with the wrap-around windows boasting “clear views from the hilltop out to Lake Washington where the Seattle skyline looms in the distance,” Keeley notes a number of “curves” throughout the home; from the “coved stain glass window in the bathroom” and “curled shower class” to the “custom counter that practically loops around the entire kitchen” and “spiral cherry & maple staircase leading up into a central atrium full of indoor trees,” the home is truly impressive.
Keeley makes an excellent point, as the home flawlessly fuses indoor and outdoor spaces, offering spectacular views and abundant natural light, using exotic woods and natural materials, and featuring a waterfall and indoor trees. So we can definitely see why Keeley says that “this 5,200 sf home doesn’t corner the market, it curves, meanders and weaves through it.”
In a recent article on Think Advisor, "Global Wealthy Want More Real Estate," Michael S. Fischer breaks down the latest Savills/Wealth Briefing survey, which reveals that "private bankers and wealth managers found that 91% of global high-net-worth [HNW] investors were looking to increase or maintain the real estate holdings they own directly, and 87% intended to increase or maintain indirect holdings."
Some key statistics, indicated by the chart below, show that 72% of wealth managers' clients plan to purchase residential properties in the next five years and that "North America was the choice investment destination of investors."
Harriet Davies, who wrote a statement for the survey, said "demand for property is not only being driven by low interest rates," which are bound to increase in the current climate, but "structural shifts mean that real estate is likely to grow in importance for HNW investors." Thus "it is crucial that advisors understand the evolving role of real estate in portfolios," and for the real estate industry to embrace these market trends.
Park Lane is officially open again and brings one thing with it: the promise of a bright future for summer events in the city of Kirkland!
Back in November, we highlighted the renovations that were ahead, and recognized that “this development promises to bring greater economic vibrancy and diversity by providing open spaces,” envisioning a place where “families, couples, tourists, and professionals” would “be able to gather.”
Now, that dream has become a reality, as months of construction were completed and last weekend introduced the new Park Lane. On Friday night, those at the grand opening were treated to a performance by Geoffrey Castle, a speech by Kirkland's Mayor Walen, and an official ribbon cutting ceremony to commemorate the occasion. Then on Saturday, a number of people took to the streets to dine up and down the lane and enjoy the open-air market, and have been doing so ever since.
This landmark locale means much fun lies ahead for the city of Kirkland, particularly as the following events, which will take place on or around Park Lane, are set to benefit from this much improved location:
The Kirkland Wednesday Market, a weekly farmers market held from 2-7p at Marina Park through September.
The Art Walk, which takes place every second Friday of the month from 5-8p at various participating local businesses.
Summer Concerts, that will bring music to Kirkland all summer long at both Marina Park and Juanita Beach Park.
The Kirkland Wine Walk on June 26th and August 28th, when local vintners bring premium wines to the downtown area.
A Classic Car Show, which parks unique automobiles, all over the downtown area on July 25th.
And Summerfest 2015, held August 7th and 9th, which brings vendors, activities, music, dancing, and more to the streets.