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TRC Newsletter - 2015 #10


Real estate professionals looking to build a global clientele are typically most successful when they draw on a personal attribute or interest to help them make a connection with prospective buyers and investors in another market. That's exactly what this month's featured TRC did, drawing on his Ukrainian roots to attract Russian investors to his southern California market. Learn more and meet Eugene Solonin>
  los-angelesIs L.A. headed towards a new housing bubble? The September UCLA Anderson Forecast says Los Angeles is only three years (beginning 2012) into a rebound and home prices are up 27%. History suggests there will be four more years of price increases and home values will rise another 35% before a correction. The price increase is attributed to a fundamental imbalance: lots of job growth, but very little increase in the housing supply due to strict building and environmental regulations. But does this mean a housing bubble? UCLA economist William Yu says no. "The current rise in home prices seems to be driven by rising effective demand and limited supply, not by speculation. Therefore, the housing bubble burst we experienced several years ago is unlikely to haunt us this year or next, and the smart money will continue to invest here." Download the full report>
Kiev Ukraine troubles create investor opportunities. Since Russia’s annexation of Crimea, Ukraine’s currency, the hryvnia, has undergone a series of devaluations, reaching an all-time low against the US dollar in February 2015, and is down about 61% compared to the beginning of 2014. The currency has stabilized, however, and in late September the National Bank of Ukraine trimmed its benchmark to 22% from 27%, citing “a gradual decline in risks to price stability." The Ukraine government is taking steps to make foreign investment easier. Read more>
Chinese Investment ReportL.A. attracts significant Chinese investment dollars. The recent chaos of the Chinese stock market is prompting some wealthy Chinese to move their money into real estate, including in the Los Angeles market—widely viewed as offering moderate risk, but high return. Wealthy Chinese are already the largest group of foreign real estate buyers in the US, according to the US National Association of  Homebuyers. Chinese investments in US businesses total nearly $50 billion and could reach $200 billion by 2020, according to a new study tracking the trend. California was the top destination as Chinese investors put $5.9 billion into almost 370 businesses that provide some 8,300 jobs, mostly in the Los Angeles and San Francisco metro areas. Get more details from Chinese Investment in the United States by Congressional District>
Moscow Property ShowMoscow International Property Show. Wealthy Russians have long poured money into properties in Europe, North America and parts of Asia. Selling to Russians can take time to gain investors' trust. Many developers and real estate professionals look to international property exhibitions as a way to get a foot in the door. Russia's longest overseas property exhibition, the Moscow International Property Show, attracted some 6,000 attendees at its April 2015 show to view investment opportunities in more than 35 countries. The upcoming show in November 2015 is expected to attract more than 7,000 visitors to meet with 200+ exhibitors. Learn more about the Nov. 13-14 show>
TRC Profile: Eugene Solonin
Eugene headshotReal estate was likely the farthest career from Eugene Solonin’s mind growing up in Kiev, Ukraine. After earning a BS form Ukrainian University Eugene worked in Greece for about 18 months before returning to Kiev to open his own advertising/marketing firm where he served international clients such as Coca Cola and Davidoff.

Shy of his 30th birthday, Eugene immigrated to southern California with his wife’s family where he began working for AIG Financial, earning the industry’s highest underwriting designation, LUTC. In 2004, feeling it was time to create something that was his own and that would give him access to the global marketplace, Eugene obtained his real estate broker’s license and launched, Elite Realty Services Group, where he remains as owner/broker. Based in the Los Angeles area, Eugene specializes in residential and real estate business opportunities, and has some experience in the commercial market.

Attending the REALTOR® Expo in 2013 in San Francisco, Eugene met with delegations from the Russian Guild of Realtors (RGR) and the Ukrainian Realtors Association (URA). “After talking to them, I realized they needed more information and a better understanding of the American real estate market,” says Eugene. “I obtained my Certified International Property Specialist (CIPS) and Transnational Referral, Certified (TRC) designations to get more involved in international real estate transactions. The TRC has given me the opportunity to work with real estate agents from all around the world.”

Eugene at boothEugene quickly jumped into the global market. In March 2014, he represented California at the Moscow Overseas Property & Investment show (pictured right), which featured 120+ companies from around the globe. “It was a great experience and I obtained a lot of prospects and investors,” says Eugene. “I had a chance to talk to Russian people about investments in the US and to provide information about L-1 and EB-5 visas. I am hoping to return to one of the exhibitions in the future.”

“In recent years the real estate market has become more transparent. Global real estate agents have a chance to cooperate and learn from each other and to help their clients have the best deal possible in purchasing properties and making smart investments,” says Eugene, who is currently pursuing appointment as NAR’s liaison to the Russian Guild of Realtors (RGR). (Eugene is pictured, left, with
Anna Lupashko, a past president of RGR.)

Eugene with Anna LupashkoSome 25 to 35 percent of Eugene’s business is from outside the US, mostly from Russia, but also from Ukraine and Poland. These investors are drawn to the Southern Californian market due to its economy, business and investment opportunities, the quality of its universities and, of course, the climate which offers much milder winters than in Moscow, Kiev or Warsaw. Eugene is looking to grow this aspect of his business.

On the domestic front, Eugene serves both the local market and those looking to invest aboard. He recently assisted clients in California purchase a property in Valencia, Spain. Some 25 percent of his domestic clients are outside the Los Angeles market. Recent transactions include those in La Quinta, Costa Mesa and Temecula.

Regardless of where clients currently live, Eugene is a booster for California. “California is a great place to live, work and raise a family. It is very diverse and everyone feels comfortable and supported.”

Contact Eugene at

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