December 2018 Update from Summit Sotheby’s International Realty
Announcing the 10-Year Anniversary Edition of Collections Magazine
Ten years. It is amazing what can happen in ten years, isn’t it? We age, our children become adults, we move, we grow, we change. Similar things could be said in business and watching Summit Sotheby’s International Realty over the last ten years has been nothing short of awe-inspiring. For us, these past ten years represent a commitment to redefining an industry, to being different and expecting more.
We really have to thank the clients and communities that have embraced us throughout Utah. Each property, each contract and each transaction have enabled us to grow and to reinforce our company culture, a culture that demands a luxury experience for all, regardless of price point. With growth comes opportunity, and for us, our opportunity is to strengthen the fabric of our neighborhoods and communities. We do this through giving back, through nurturing and supporting our staff and embodying the change want to see in this world.
The past ten years have shaped and molded Summit Sotheby’s International Realty into a brand that believe goes beyond the purchasing and selling of property. We’re passionate about providing value and being pillars and supporters of our communities. The future for us is all about gratitude and continuing to make our mark in an industry that is all about the foundation of life: a sense of inclusion and a place to call home.
Thomas Wright, President and Principal Broker
Summit Sotheby’s International Realty
Collections Magazine: The Stats
115,000 Copies Showcasing Utah’s Most Distinctive Properties
70,000+ Copies Delivered to the Subscribers of Salt Lake Tribune, Utah Business Magazine, Zion’s Bank Community Magazine, The St. George Spectrum
465 Hand-Selected Distribution Locations across the State of Utah
6 Month Shelf Life
Like No Other: Announcing Our Two Newest Offices – Draper & Heber City
Vetted and approved by the Sotheby’s Auction House, our locations across Utah are more than just an office – they are settings in which innovation and collaboration meet.
Coalition Management is now Property Management by Summit Sotheby’s International Realty
As Seen in the Park Record and Who’s Who in Luxury Real Estate: Summit Sotheby’s International Realty has announced the addition of a long-term property management division to their full-service real estate firm. This announcement comes on the heels of Summit Sotheby’s International Realty’s acquisition of Coalition Management, the Park City leader in long-term rental and property management services.
“Providing property management services to the Park City community since 1986 has been an incredible opportunity to connect with people from around the world,” said Annette Sneed, Owner and Principal Broker of Coalition Management. “Joining forces with Summit Sotheby’s International Realty signifies the continuation of the service and commitment to quality they have come to expect. We look forward to the combined value of our organizations and are excited to see what the future brings.”
“We could not be more honored to have the opportunity to provide luxury real estate experiences to our clients,” said Thomas Wright, President and Principal Broker of Summit Sotheby’s International Realty. “We felt that offering our clients access to professional long-term management services was a natural next step for Summit Sotheby’s International Realty. Combining forces with Coalition Management, backed by the power of the Sotheby’s International Realty brand, will provide Park City the best in long-term property management.”
Summit Sotheby’s International Realty’s property management division will be based in their Park City flagship location, 1750 Park Avenue. This new division compliments the brokerage’s comprehensive client services touching real estate sales, relocation and developments. For more information on Summit Sotheby’s International Realty’s Property Management services visit: https://www.summitsothebysrealty.com/eng/pm
Affiliate Highlight: Realogics Sotheby’s International Realty
This month, we partnered with Realogics Sotheby’s International Realty (RSIR) in Seattle, Washington for Distinctive Destinations, a series that highlights a selection of properties from our global affiliate partners in the Sotheby’s International Realty network. The team at RSIR shared a collection of fabulous homes from around the Pacific Northwest that bring a whole new meaning to the word luxury.
Immerse yourself in a relaxed and fulfilling lifestyle in a luxurious Northwest Contemporary waterfront home perfectly perched above Washington Park on Puget Sound. As the “Gateway to the San Juans,” Anacortes is a beautiful waterfront town consistently regarded for its stellar businesses, schools, parks and recreation. A mild temperature meets lush forests with a quaint downtown area adorned by fabulous showing and restaurants. Visitors and residents enjoy kayaking, hiking, biking and whale watching at Deception Pass State Park, with fun annual events including the waterfront festival and farmers market.
Ashford Mansion is a stately 1903 residence on the national register for historic places. Live in a park-like setting, with wraparound porches set among a background of old-growth Evergreens. Built in the Colonial Revival style, no detail is spared, from coffered ceilings and medallions to 15 crystal chandeliers and sconces. The property is located just six miles from the only year-round entrance to Mount Rainier. As the nation’s fifth established National Park, recreation abounds year-round.
Wondrous and iconic, this beachfront retreat is the perfect place for those who want to play and relax alike. Enjoy the serenity of living surrounded by water. From sunrises over the city to sunsets over the mountains, this waterfront home is unlike anything else on Bainbridge Island. Just a 35-minute ferry ride away from downtown Seattle, the Bainbridge Island community wows residents and visitors with its stunning mountain views, gentle rolling hills and small-town American feel.
Pathways enveloped in greenery and an authentic heritage hearken one into Towering Trees at Beaux Arts Village, as majestic open spaces afford an understated elegance that pulls nature into focus. The creative vision of renowned architect James Cutler, no expense was spared in this 2014 custom design as organic materials and high-quality craftsmanship meet superb finishes. Located down a quiet lane, enjoy a position within the stellar Beaux Arts Village community, where residents often hop on golf carts to transport themselves to life at the water’s edge, with 1,000 feet of waterfront, a lakeside park, dock, boat moorage, tennis courts and picnic areas.
Modern View Home in the heart of Kirkland’s popular Houghton neighborhood with privacy, style, spectacular construction and stellar views of Lake Washington, the city skyline, mountains and more. This spectacular new construction home by Meridian is a 21st century masterpiece with the latest in home technology. Kirkland is simply an incredible place to live, with a vibrant downtown core and easily accessible lakeside parks. There are activities from sunup to sundown for those who want to be active, and coffee, ice cream, and even a gourmet meal are only a few steps from the water. Because of its local accessibility and proximity to Interstate 405, Kirkland is a wonderful jumping off point for adventures around the Greater Seattle Area.
This stunning Lochwood Lozier Estate in The Reserve at Newcastle is the epitome of Northwest living. Perched above the fifth hole of the China Creek Golf Course, this home captures the best views around. Northwest-inspired architecture includes rich wood moldings, teak hardwoods and custom finishes throughout. Having been named one of the Top 25 Best Places to Live by Money Magazine, Newcastle has grabbed the attention of executives of major corporations headquartered in the Pacific Northwest. Not only does Newcastle offer award-winning schools, it boasts wonderful outdoor amenities including integrated trail systems into its newer housing developments and parks, Cougar Mountain and The Golf Club at Newcastle.
Breathtaking, custom-built modern oasis in the heart of West Seattle complete with a 1,787 square foot rooftop deck with expansive mountain and city views. West Seattle has increased in popularity as a preferred target for homebuyers relocating from California’s Bay Area and the creative class. The area’s attractions include sandy, saltwater beaches along Elliott Bay and Puget Sound shoreline and a boardwalk where rollerbladers and bicyclists cruise by pop-up eateries and quirky, chic shops at West Seattle Junction. Residents frequent the Water Taxi, whether they’re relaxing on their commute into the downtown core or watching the sun slip beneath the city and Puget Sound.
From the Video Services Team… A New Film: LIVE UTAH
What a privilege it is to live and work in Utah. Diverse climates, five national parks, limitless recreation and unbeatable state pride make Utah a place I feel honored to share with all of you. Enjoy the newest film, just released from the Summit Sotheby’s International Realty creative services team: LIVE UTAH.
Intercap Lending Update: Conforming Loan Limits Increase for 2019
After not increasing the maximum conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for 10 years, the Federal Housing Finance Agency (FHFA) has now increased the conforming loan limit for the third straight year.
The FHFA’s third quarter 2018 House Price Index report, which includes an estimate of the average increase for U.S. home values over the last four quarters, showed that home prices increased 6.9% between the third quarters of 2017 and 2018. Therefore, the maximum conforming loan limit in 2019 will increase by the same percentage to $484,350.
This increase is great news for homebuyers, ultimately giving them more purchasing power. Whether building, buying or refinancing we would love to assist you with any of your mortgage needs. Please give us a call today for a free loan estimate. 801.347.5071