“AFFORDABLE AND ACCESSIBLE WATERFRONT”- NORMANDY PARK LISTING ARRAYED AS KING COUNTY’S BEST VALUE IN THE ACTIVE PRICE SEGMENT BELOW $2 MILLION
Open House on May 19 to Draw Brokers and Homebuyers with Creative Luxury Car Show and Market Research
SEATTLE, WA. (May 16, 2012) – Broker representatives at Realogics Sotheby’s International Realty are hosting a unique open house event at 17845 Normandy Terrace SW in Normandy Park, WA on May 19 (2-6pm) to attract brokers and prospective homebuyers. And in a unique twist, the event hosts have partnered with Ferrari of Seattle and Maserati of Seattle to bring attention to “sexy commute” times to downtown Seattle compared with other waterfront homes in this price point. A public open house event will follow on Sunday (1-4pm)
“Most consumers look to the Eastside for waterfront under $2 million and it’s my job to make Normandy Park top of mind with this fun and informative event,” says Irene Pappas, a Managing Broker with Realogics Sotheby’s International Realty. “Our research helps to illustrate the comparative values in this popular price point and also brings into question commute times to downtown Seattle. With recent tolling on the Eastside, rising fuel costs and traffic back-ups homebuyers must consider the impact to their schedule, lifestyle and pocketbook. Normandy Park is a hidden gem for waterfront and it’s less than 15 minutes to downtown Seattle without tolls.”
In a significant move, Pappas recently dropped the asking price by $500,000 to get below the $2 million price point and highlights the relative value at just $19,398 per linear foot and includes the 4,660 square foot home, which was awarded the MAME by Architectural Digest in 1994. According to her research, the average asking price of listed waterfront in Normandy Park is just $22,745 per linear foot compared with Mercer Island, Lake Sammamish, West Bellevue, and Kirkland, which are currently $29,145, $33,042, $35,960 and $38,075 per linear foot, respectively. Overall in King County, there have been 22 waterfront home sales priced between $1.5 million and $2.5 million. The average price per linear foot in this price segment has been $33,000.
“I love the creative thinking and networking opportunities presented by this targeted open house event,” says Roberto Perrina, the Director of Sales and Marketing for Ferrari and Maserati of Seattle. “We both recognize that Italian sports cars and luxury waterfront are discretional purchases but fortunately, sales on both fronts have been rising in 2012. More and more consumers are seeing the enduring value in luxury products and many are now moving forward with the lifestyle they’ve been putting off since the recession.”
To view this home link here: Normandy Park Listing
About Realogics Sotheby’s International Realty: Representing the greatest number of new construction and resale property closings by total dollar volume among brokerage offices in the Seattle metro markets according to Trendgraphix for Q1-2012, Realogics Brokerage, LLC (DBA Realogics Sotheby's International Realty) has emerged as a leading sales and marketing company in the Seattle area. Visit www.RealogicsSothebysRealty.com.
About Ferrari of Seattle & Maserati of Seattle: Ferrari and Maserati of Seattle are Washington State’s only Factory Authorized Ferrari and Maserati dealerships and recipient of Top Ferrari Dealer for North America 2011. Located on Capitol Hill, Ferrari and Maserati of Seattle has always made sure to diligently serve clients and the community. Founded in August of 1999, Ferrari & Maserati of Seattle remains family owned and operated and the only multi-generational Italian-American Ferrari and Maserati dealership in North America. Visit www.FerrariofSeattle.com and www.maseratiofseattle.com.
EDITORS NOTE: Color photography of referenced principals, real estate and automobiles are available upon request - contact Andrea Savage at 206.448.5782 or email Andrea.Savage@