The International Real Estate Federation (FIABCI) just held its Fall Business Meetings in Seattle and I attended as San Francisco’s Local Council President. The meeting was well attended with approximately one hundred attendees from across the globe.
FIABCI Fall 2010 Business Meeting
The meeting started with a cocktail party at the Columbia Tower Club atop Seattle’s tallest high-rise with amazing views of the city and surrounding landscape. The weather was great and the sunset dramatic.
Saturday was jam packed with a morning general meeting featuring special guests: Nikolai N. Vinogradov, Deputy Consul General of Russia; Dean LaPointe (Canada), FIABCI President for the Americas; and Bill Stafford, President of the Seattle Trade Development Alliance.
Danielle Grossenbacher, President Elect FIABCI-USA and Lance Fulford
The day continued with special panel sessions dedicated to: Asian Real Estate Markets; International Real Estate Market Risks; and Real Estate Technology. A highlight was the general marketing session where all attendees reported on their local market.
These international subjects and contacts are critical for our market here in San Francisco. We’re such an international city and the trends and impact of decisions and movements in other locations around the world do have a ripple effect here in San Francisco. The Vancouver B.C. market appears to be in much the same condition as our local market with single family homes under $1.5mil very strong and the market over $2mil weak. Fortunately, our $2mil and over market is stable in some specific neighborhoods so there is some difference and stratification.
Andrew Chan, Maria Davies and Dean LaPointe at the FIABCI Seattle Meetings
I also made contact with an international operation that is working with high wealth individuals to spread risk and liability by operating in Monaco, Hong Kong, Dubai and Singapore yet purchasing distressed luxury property for their clients here in the U.S. A very creative concept. There are many more highlights which I’m happy to share. If you have a question about a specific market and how it relates to our local market leave a question for me in the comment section.
Sunset over Seattle
All the Best,
Lance
