Category: Uncategorized

Recently Wallethub posted a story on the best and worst cities to be a real estate agent.  Our own Glenn Crellin, retired Associate Director of Research at the Runstad Center, provided his expert opinions on the topic.  Read the full story here

We are happy to announce that Professor Sofia Dermisi has been elected Vice Program Chair of the American Real Estate Society (ARES).  She will shadow the program chair of the annual conference in 2017 and organize the annual conference in 2018.  In the spring of 2018 she will transition to the role of Vice President and President of ARES, becoming the second woman president in the history of the organization.

The American Real Estate Society was founded in 1985 and is an association of real estate thought leaders from both academia and industry. The Society is dedicated to producing and disseminating knowledge related to real estate decision making and the functioning of real estate markets.

 

 

 

 

Is HALA the answer for the affordable housing crisis?

Peter Orser was recently quoted in the Oregonian regarding his thoughts on Seattle’s growth, read the full story here

We are thrilled to announce that with the support of a generous gift from Windermere Real Estate founder John Jacobi, the Runstad Center for Real Estate Studies will be launching an undergraduate minor in real estate in fall 2017, with courses starting winter 2017.  This gift will also fund two new endowed faculty chairs at the Runstad Center.  We are incredibly thankful and excited to broaden the opportunities in real estate education in the College of Built Environments  Read more about this announcement on UW Today

Are you interested in the Master of Science in Real Estate program?  There is still time to apply for autumn 2016!

MSRE Information Session
Tuesday, April 26th
6 pm
520 Pike 12th Floor Auditorium 

Please join us for an informal conversation about the MSRE program and application process.  Current students and alums will be on hand to speak about their experiences in the program as well as Runstad faculty and staff.  This is a great chance to get answers to your questions and learn more about our work compatible graduate program!

Please RSVP: bestm2@uw.edu

Our 2015-16 Runstad Affiliate Fellows are currently in New Zealand, learning how the city of Auckland manages their “right of way”. What is the right of way of your dreams? Follow the Affiliate Fellows on Instagram and learn more about their research topic here

The University of Washington’s Department of Urban Design and Planning and the Runstad Center are seeking applicants for two positions commencing September 2016: Affiliate Instructor and Full Time Lecturer.

Affiliate Instructor  

The individual selected will be teaching the course: “Real Estate Appraisal”
in the autumn quarter of 2016. The course introduces students to the valuation process with a focus on income-producing properties. Initially, students examine real property interests, the economic foundations to value, and the market in which real property interests are traded. Next, students are exposed to the real estate appraisal process and valuation techniques and tools, including highest and best use analysis and the income, sales comparison, and cost approaches to value. The course highlights the function of appraisal within the broader real estate market and emphasizes the behavioral context in which property valuations are embedded.

Full Time Lecturer

The position involves the teaching of two courses in each of three academic quarters – Autumn, Winter, Spring— with opportunities to teach additional courses if desired. The initial appointment will be for two years, with multi-year reappointments available, depending on performance.

Applicants should have primary teaching expertise in Real Estate Finance (with topics spanning from basic financial modeling in real estate, capital markets, project finance and advanced real estate finance) with the ability to teach Real Estate Development and possibly co-teach a Real Estate Development studio. Applicants should have demonstrated evidence of high-level proficiency in teaching at the graduate level.

Applicants for both positions must have at least a Master’s degree in a relevant field. Work experience is required with teaching experience preferred although professional experience will be evaluated
accordingly.

Applications, including a letter of interest, resume, 1-2 page statement of teaching philosophy, and three letters of recommendation, should be emailed to Professor Sofia Dermisi at sdermisi@uw.edu.  Prof. Dermisi can also answer specific questions regarding the appointment and provide a draft course outline.  Deadline to apply for the Affiliate Instructor position is April 22nd, 2016.  Deadline to apply for the Full Time Lecturer position is April 29th, 2016.  Please see below links to both job announcements:

Affiliate Instructor – Appraisal
Full Time Lecturer – Real Estate

On Thursday, March 10, The UW Real Estate Club hosted a fascinating panel, “Chinese Investment in the Puget Sound Real Estate Market”.  MSRE student David Leon shares a recap of this highly attended event.

 

 

 

 

 

 

The UW Real Estate Club recently hosted an evening panel event addressing Chinese investment in the Puget Sound real estate market. The event gave students and professionals a chance to network, learn, and explore opportunities.

Panelists included:

• Kelly Chiou, VP & Deputy Head of Seattle Office, ICBC USA

• Dean Jones, Principal/Owner, Realogics Sotheby’s International Realty

• Reid Rader, VP, Eastdil Secured

• Allen Zeng, CEO, AUG

After some food, drinks and networking, the panelists each gave a short presentation, followed by a group question and answer session. Dean Jones showed a brief video, and explained that the Chinese interest in the Seattle area residential real estate market has to do with more than Chinese President Xi Jinping’s recent visit to the area, or the famous Chinese movie, “Finding Mr. Right”. The Puget Sound presents the opportunity to invest in an American city with beautiful natural surroundings, excellent educational and healthcare institutions, a strong and well-diversified economy, and only a short flight to mainland China. In addition, although much has been made about affordability concerns locally, Washington has lower taxes than either California or British Columbia, and Seattle real estate is still much cheaper than other West-Coast cities like Vancouver, San Francisco, and Los Angeles. The panelists also noted that the U.S. EB-5 program is cheaper to buy into than most other Commonwealth countries.

Kelly Chiou discussed rules around moving money from China to the United States, and the importance of having a wrap-around set of services for incoming Chinese buyers. Reid Rader gave an overview of the recent sale of the Columbia Tower — Seattle’s tallest downtown office building — to an investor group from Hong Kong. And Alan Zheng of AUG gave his perspective on why he chose to build a residential development near University Village. He made the point that whether the Chinese economy rises or falls, Seattle is a market that Chinese investors want to enter on a long-term basis.

Realogics Sotheby’s International Realty produced its own feature film documentary entitled “East Meets West” to help explain the boom in foreign direct investment and immigration in the Puget Sound region.

David Leon
MSRE Candidate 2017

We want to sincerely thank all of the panelists for contributing their expertise and time. This event was generously sponsored by U Place, a new housing development planned for the University Village. Catering was graciously provided by Panda Express.

#4 Peer to Peer Engagement

Whether participating in the Real Estate Club, engaging in a national competition or partnering on a class project the value of a cohort of talented professionals eager to learn, grow and make a contribution should be a consideration for every applicant.  The design of the curriculum itself is attractive to a highly motivated student with a diverse set of experiences. We encourage international applicants for the perspective they can bring, a third of our applicants this year were women a trend the industry has begun to appreciate.  It is  clear that diversity of all kinds bring with it extraordinary synergies from the diversity of thought within a culture that values engagement.

Read all 10 reasons here.

Victory!  The Runstad Center’s student team took home the trophy winning first place in the annual NAIOP Real Estate Challenge, held March 10th at the Hyatt Regency in Bellevue.  This event features teams from the University of Washington, the University of British Columbia, and Portland State University.  Students from each university’s real estate program compete from January through March to create and present a development proposal for a mixed-use community project.  This year’s site was TOD in the Bel-Red corridor. The 2016 Real Estate Challenge focused on three parcels to develop active TOD adjacent to the transit station, including 300 parking spaces and bike facilities, to be developed before the start of light rail service in 2023.

The Runstad Center’s team presented “Moment130”, a proposal that consisted of three mixed use residential buildings with affordable apartments, unique retail and underground shared parking.

If you weren’t able to attend the NAIOP breakfast, the team’s executive summary from the report is available online.

Congratulations to our hardworking students, and the tireless support and mentorship of our faculty sponsors, Chris Bitter and Al Levine!

 

 

 

 

 

 

Here are some renderings from the winning proposal