Joseph Brazen

It seems that everywhere we look, the US economy has been at the forefront of every news article, press release, and lead story that we encounter. It’s not just a national issue, either; the two month Boeing layoff cost our region dearly, WAMU’s demise closed the local corporate office, and both Starbucks and Costco have suffered significant 3rd Qtr losses.

And yet there’s a beacon of light on the local horizon. I read an interesting article earlier this week on the health of the US Real Estate Market that placed Seattle as the most stable real estate region in the country. I’ll have to confess to not being overly surprised. As with most business owners, I measure economic news in large part against my own company’s circumstance, and at Brazen Sotheby’s International Realty things there are definitely indications of brighter times ahead.

There is definitely a trickle-down relationship between such events as the Boeing layoff and real estate sales in the region; if Boeing employees are facing economic uncertainty, they are far less likely to enter the real estate market either as buyer or sellers. While regionality certainly plays a significant role in the health of the local real estate market, so does the national economic situation. Even if our economy continues to run strong relative to the nation, attracting the best employees is often difficult because of the challenges they face selling their homes and relocating to the Northwest.

While we have certainly seen a slowing in both listings in sales when measured against ’06 and ’07, it’s heartening to know the Seattle area remains the best place to both buy and sell real estate in the nation. In spite of this fact there are still challenges; credit continues to be tight, and lenders are typically requiring more documentation and higher down payments than in the recent past. There also remains uncertainty in our political climate, and speculation as to the effectiveness of the federal bailout of mortgage holders Fannie Mae and Freddie Mac.

There’s a strong climate of “wait and see” with both mortgage lenders and buyers/sellers. The real estate industry is waiting to see how the economic rules will change with the new administration in Washington DC before committing themselves to a new course of action. That said, the new administration takes office January 20, 2009, and we can expect the financial industry to respond favorably to what I’m certain will be quick, decisive action. I am confident we’ll see a sea-change by Spring 2009, with mortgage rates remaining at all time lows, credit flowing once again between banks, and a corresponding uptick in our local and national economies.

Joseph Brazen

Reading or watching the news each day, we are often presented the darkest tales of tragedy and calamity in our community. How many times have we repeated the adages “No news is good news” and “Bad news sells newspapers” in our lives? As we complete the last quarter of 2008, let’s take a moment to reflect on what is good in our lives and our work. As real estate agents, we are a profession of hardworking optimists.

It has been a very good year indeed for Brazen Sotheby’s International Realty. Our office has grown along with our listings, and the Bellevue real estate luxury market continues to show itself reasonably resilient and robust. Remember that we live and work in one of the prettiest areas our country has to offer, and the Eastside is increasingly recognized as the crown jewel of the greater Seattle area. More people recognize this every day, and they still come to live and work here in significant numbers. These numbers may not be as large as they once were, but they still represent growth—not stagnation. Certainly not atrophy or decay.

While a number of Seattle real estate agents may be inclined to pessimism at the volatile nature of the stock market, those of us who have been established long enough in this business know that a free market must go through its ups and downs. Our job is to connect buyers and sellers, and facilitate a smooth transaction that leaves both of them confident that they have made the right choice. Brazen Sotheby’s will stay focused on what counts in the greater Seattle Washington real estate market; providing a premier real estate service to homeowners and buyers from around the world.

Despite the recent economic worries, at Brazen Sotheby’s International Realty we view our commitment to luxury real estate customers and their Bellevue real estate investments without reservation or regret. We will continue to meet the expectations of buyers and sellers wise enough to grant us their patronage.

Bellevue, Wa

It has been a very good year indeed for Brazen Sotheby’s International Realty. Our office has grown along with our listings, and the Bellevue real estate luxury market continues to show itself resilient and robust. While a number of real estate agents may be inclined to pessimism at the volatile nature of the stock market, those of us at Brazen Sotheby’s will stay focused on what counts in the greater Seattle, Washington real estate market; providing a premier real estate service to homeowners and buyers from around the world.

Take a moment to view our World Wide Property Search button. We haven’t found a similar service provided by our competitors, and we hope to keep that edge working to our customers’ advantage. Remember that this world wide search function works the other way as well—buyers from around the world can look up our listings with the simple click of a mouse. Your home will not just be in Seattle real estate listings, it will be actively and aggressively marketed or referred by 10,000 agents working in 500 offices from Bellevue to Vietnam, Venice and Greece.

Sotheby’s International Realty also connects Brazen to the customers of Sotheby’s auction houses. A more discriminating and demanding clientele could not be found, yet Sotheby’s International Realty has demonstrated its ability to provide the highest quality service and make its customers feel special. In 2008 both the Franchise Business Review and the Luxury Institute recognized our exacting standards and the high customer satisfaction ratings offered by our clients. We were awarded Best in Category for Real Estate Franchise Satisfaction, and high net-worth consumers rated Sotheby’s International Realty the most prestigious real estate company in the high-end market.

Despite the recent economic worries, at Brazen Sotheby’s International Realty we view our commitment to luxury real estate customers and their real estate investments without reservation or regret. The Sotheby’s brand will stand us in good stead, and we will continue to meet the expectations of buyers and sellers who grant us their patronage.

Brazen Sotheby’s International Realty just gained a new associate in Limassol, Cyprus! In a move that shows continued confidence in the real estate market, Terra Sotheby’s International Realty committed to an exclusive 25-year licensing agreement with the Sotheby’s brand to cover this ancient island kingdom in the Mediterranean. Sotheby’s International Realty now has more than 500 affiliate offices worldwide, with more than 10,000 sales associates covering 36 countries and territories.

While the success and growth of the Sotheby’s International Realty continues to impress the most prestigious clientele in the world, its powerful marketing and referral program allows Brazen Sotheby’s International Realty to bring these services to the luxury Seattle real estate market and the east side. Bellevue real estate investments, which still benefit from one of the strongest growth rates in the country, will continue to attract customers from all over the world, and Brazen Sotheby’s International Realty will be there to welcome them.

Brazen Participates in Luxury Real Estate Conference

I recently had an opportunity to meet many of the worlds finest international realtors at a very special gathering of Sotheby’s networked affiliates in New York. Representing the Northwest US at this meeting, I was warmly embraced by Sotheby’s brokers from many of the worlds most prestigious markets, and networked with affiliates working in 36 different countries and territories worldwide. This event signals a sea-change for the high end Seattle real estate market in general and the Bellevue/Eastside real estate luxury market in particular.

Bellevue real estate properties will now be visible and actively marketed in a luxury network that includes the finest independent real estate companies and well-qualified buyers the world over. Brazen Sotheby’s International Realty is already bringing international customers to the Bellevue real estate market, and looks forward to further successes with every new international affiliate.

Welcome to Brazen Sotheby’s International Realty’s blog. Since this is our first entry, I want to spend some time telling you about all of the exciting changes our real estate brokerage has been a part of this year.

Joseph Brazen

In June, Sothebys International Realty announced our inclusion into the worlds premier luxury real estate network and Brazen Sotheby’s International Realty was born. Our affiliation with Sotheby’s only reinforces Brazen’s reputation as the premier real estate office in the Northwest. Sotheby’s recognizes that our commitment to our clients, our passion for the real estate profession, and our honest approach to negotiation mirrors the qualities they embody. We are thrilled to be part of the Sotheby’s brand.

Since this announcement our office has worked hard to incorporate Sotheby’s marketing initiatives into our own (including this new website and blog), and our clients are already benefiting from this effort. At a time when both the local and national real estate industries are feeling the pain of the weakening economy, our hard work at leveraging the Sotheby’s advantage has kept our listings growing and our clients receiving above-average returns on their real estate sales.

One indication of our continued success is the growth of our office since joining with Sotheby’s International Realty. Our office staff has grown. We have just hired 5 new highly qualified real estate professionals since June; Skip Hughes, Jennifer Helliker, Sophia McDonald, Mela Mamallo, and Jade Attar. Our company now totals 15. Each of these realtors brings industry-leading qualifications and experience to our office, giving us the strongest team of professionals in the Northwest. Please take a moment to browse our agent profiles on this website; I’m certain you’ll find a perfect fit for your next real estate purchase or sale.

This website also offers fantastic tools for people looking to buy or sell a home. The Real Estate Search page is an easy to use, intuitive interface bringing the Multiple Listing Service to your fingertips. We also provide a wealth of information about local schools, arts and entertainment, and commuting, as well as real estate specific resources for both buyers and sellers. You can learn more about our company, our agents, and what sets us apart from the myriad of other real estate offices in the region.

Thank you for reading my first entry! I will be adding to this blog often, drawing on my 30 years of real estate sales experience as I offer my thoughts on the local market, real estate issues, and life in the beautiful Northwest. If you have a real estate question you’d like answered or a comment you’d like to share please take a moment and to send it along.

Sincerely,

Joseph Brazen
President/ Broker