News & Notes ~ July 2018

Activity overall is mixed in the Portland area in relation to 2017, and the general consensus is that the market  is leveling out a bit.

Here is your look at the most recent data for the entire Portland area (July) and how Lake Oswego fits in to this picture just below:

  • According to the RMLS Market Action Report for the Portland Metro Area, July, 2018:
    • There were 4,312 New Listings in July 2018 which was up 2.6% from July of 2017’s 4,202, and down 4.5% from the previous month/June of 2018’s total of 4,515.
    • At 2,736, July Closed Sales fell  2.0% from July 2017’s 2,793, and/but were also down 7.1 % from the previous month/June 2018’s total of 2,946.
    • July’s Pending Sales (accepted offers), at 3,071 were up slightly at  1.0% from July of 2017’s 3,040, and were also up 0.4% from the previous month/June 2018’s total of  3,059.
    • The Average Sale Price in July of $455,100 was up $7,700 from July 2017’s $447,400, and down from the previous month/June 2018’s $472,400 by $17,300.   

Neighborhoods: July’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $415,900              6.7%   (June 430,100)
  • NE Portland:  $467,400                   4.8%   (June 490,000  )
  • SE Portland:  $425,400                   6.9%   (June 443,600)
  • Gresham/Troutdale:   $361,500   10.5%   (June 357,900)
  • Milwaukie/Clackamas:  $427,400  5.5%   (June 434,100  )
  • Oregon City/Canby:   $439,400      7.4%   (June 434,100)
  • Lake Oswego/West Linn:$689,700 6.3%   (June 685,700)
  • West Portland:    $591,000             1.4%   (June 635,600)
  • NW Wash County:  $552,500          4.5%   (June 572,200)
  • Beaverton/Aloha:     $383,600        7.9%   (June 400,100 )
  • Tigard/Wilsonville:   $452,700        8.6%   (June 481,500 )
  • Hillsboro/Forest Grove: $403,100  8.5%   (June 409,900)

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of July 2018 reported:

    •  498 Active Listings   (June 341)
    •  269 New Listings     (June 261)
    •  164 Pending Sales  (June 192)
    •  153 Closed Sales      (June 154)
    • Average Sale Price for July: $689,700  (June 685,700)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  53 Average Days on the Market   (June 52)

Market Activity ~ Aug 6-12, 2018

Last week 26 New properties entered the market in Lake Oswego, 32 moved to Pending status, and 19 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Aug 6-12, 2018)

Address List Price # Beds # Baths Total SF Prop Type
100 KERR PKWY #31 $159,000 1 1 618 CONDO
92 GALEN ST / Upper $189,000 1 1 689 CONDO
104 OSWEGO SMT #104 $195,000 1 1 764 CONDO
4 TOUCHSTONE #113 $229,000 2 2 984 CONDO
213 OSWEGO SMT / Upper $245,000 2 2 1383 CONDO
3808 BOTTICELLI ST $274,500 3 2 1224 CONDO
247 CERVANTES / Upper $320,000 2 2 1384 CONDO
104 GREENRIDGE CT $385,000 3 2 1728 ATTACHD
240 GREENRIDGE DR $425,000 3 2 1514 ATTACHD
72 WHEATHERSTONE $439,900 3 3.1 2465 CONDO
7 SUMMIT RIDGE CT $445,000 2 2.1 1704 ATTACHD
110 KINGSGATE RD $499,900 3 2.1 1669 DETACHD
5105 ROSEWOOD ST $549,900 4 2 1848 DETACHD
16942 CANAL CIR $675,000 3 2 1551 DETACHD
2719 GREENTREE RD $689,000 5 3.1 3886 DETACHD
17436 Wren CT $715,000 3 3 2311 DETACHD
1830 CLOVERLEAF RD $729,000 3 2.1 1857 DETACHD
18238 TAMAWAY DR $729,900 5 3 5504 DETACHD
17401 UPPER CHERRY LN $750,000 4 3.1 3791 DETACHD
725 10TH ST $795,000 3 2 2016 DETACHD
17323 LAKE HAVEN DR $799,000 3 2.1 1897 DETACHD
19413 LORNA LN $1,099,000 3 2.1 3838 DETACHD
18650 STAFFORD RD $1,100,000 4 2.1 2840 DETACHD
35 HIDALGO ST $1,100,000 3 3.1 3926 DETACHD
1099 TERRACE DR $1,749,000 5 4.1 4965 DETACHD
17566 BLUE HERON CT AUCTION 4 3 3412 DETACHD

PENDING SALES (Aug 6-12, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #30 $166,500 1 1 617 CONDO 6
92 OSWEGO SMT #92 $175,000 1 1 764 CONDO 2
86 KINGSGATE RD H203 $215,000 2 2 849 CONDO 25
109 OSWEGO SMT / Upper $234,900 2 2 1212 CONDO 4
209 OSWEGO SMT / Upper $250,000 2 2 1383 CONDO 27
203 CERVANTES / Upper $280,000 2 2 1100 CONDO 28
750 1ST ST A-10 $289,900 2 2 1350 CONDO 11
4000 CARMAN DR C-49 $297,500 2 1.1 1004 CONDO 61
5225 JEAN RD #501 $349,900 3 2 1500 CONDO 6
1218 LAUREL ST $419,000 4 2 1485 DETACHD 24
4837 REDWING WAY $429,900 3 1.1 1180 DETACHD 3
4366 WOODSIDE CIR $437,500 3 2.1 1963 ATTACHD 26
1115 OAK TER $498,000 4 2.1 1880 DETACHD 12
4862 INDIAN CREEK CT $499,990 3 2 1390 DETACHD 45
26 PARTRIDGE LN $550,000 4 3 2464 DETACHD 4
775 BOCA RATAN DR $550,000 4 3.1 2710 DETACHD 74
553 6TH ST $579,000 1 1 1876 DETACHD 1
31 WESTRIDGE DR $619,000 5 2.1 3492 DETACHD 5
2401 HILLSIDE DR $649,900 4 3 3342 DETACHD 15
1435 GREENTREE CIR $650,000 4 2.1 2269 DETACHD 2
1445 GREENTREE CIR $675,000 4 3 2842 DETACHD 37
13984 CHELSEA DR $824,900 4 2.1 3216 DETACHD 86
17851 WESTVIEW DR $848,000 4 3.1 3433 DETACHD 146
13188 TWIN CREEK CT $859,000 4 2.1 3480 DETACHD 20
927 OAK ST $875,000 5 3.1 2864 DETACHD 50
16987 ALDER CIR $879,000 2 2.1 1991 DETACHD 274
17660 STAFFORD RD $975,000 5 3.1 3313 DETACHD 0
13857 AMBERWOOD CIR $995,000 4 2.1 3916 DETACHD 7
1563 BAY VIEW LN $1,098,000 5 4.1 5615 DETACHD 396
817 HOODVIEW LN $1,369,000 5 4 4141 DETACHD 1050
1056 BAYBERRY RD $1,549,000 4 4 3805 DETACHD 124
17210 CEDAR RD $2,095,000 4 3 2813 DETACHD 40

SOLD (Aug 6-12, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
86 KINGSGATE RD D103 $222,900 $223,000 2 2 924 CONDO 4
5064 FOOTHILLS DR F $359,900 $335,000 2 2 1252 CONDO 61
5751 WASHINGTON CT $500,000 $409,500 5 2 2120 DETACHD 4
55 NORTHSHORE RD #9 $450,000 $440,000 2 1.1 2025 CONDO 385
668 MCVEY AVE #54 $499,000 $490,000 3 1.1 992 CONDO 48
28 NORTHVIEW CT $500,000 $500,000 3 3 2092 ATTACHD 63
622 CLARA CT $552,000 $552,000 4 2 2236 DETACHD 75
1179 LARCH ST $609,900 $605,000 3 2 3206 DETACHD 6
5117 GREENSBOROUGH CT $650,000 $623,290 3 2.1 1560 DETACHD 30
5540 BAY CREEK DR $675,000 $632,000 3 3 2130 DETACHD 46
17020 CHAPIN WAY $684,900 $663,000 4 3 3258 DETACHD 9
5685 CHARLES CIR $700,000 $692,500 4 2 2542 DETACHD 5
2251 SUMMIT DR $769,000 $737,000 4 3 2874 DETACHD 56
5853 SOUTHWOOD DR $849,000 $805,000 5 2.1 3707 DETACHD 48
3155 UPPER DR $1,175,000 $1,100,000 4 3 3016 DETACHD 39
3540 RED CEDAR WAY $1,150,000 $1,125,000 5 3.1 4023 DETACHD 15
18296 MEADOWLARK LN $1,698,000 $1,660,000 5 3.1 5770 DETACHD 84
1093 CHANDLER RD $2,200,000 $2,000,000 5 4.1 5331 DETACHD 176
340 RIDGEWAY RD $2,230,000 $2,230,000 4 4 4411 DETACHD 2

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

Market Activity ~ July 23-29, 2018

Last week 16 New properties entered the market in Lake Oswego, 19 moved to Pending status, and 17 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 23-29, 2018)

Address List Price # Beds # Baths Total SF Prop Type
47 EAGLE CREST DR #15 $185,000 2 1 1009 CONDO
1115 OAK TER $498,000 4 2.1 1880 DETACHD
1698 ASPEN ST $549,000 3 3 2668 DETACHD
5885 DOVE CT $559,000 3 3 1800 DETACHD
2401 HILLSIDE DR $649,900 4 3 3342 DETACHD
12 DA VINCI ST $785,000 4 3 2959 DETACHD
5561 KILCHURN AVE $799,888 4 2.1 2803 DETACHD
2051 WEMBLEY PARK RD $849,000 2 2 1196 DETACHD
5064 HASTINGS DR $879,000 4 2.1 3739 DETACHD
15545 VILLAGE PARK CT $895,500 4 2.1 2745 DETACHD
17596 GREEN BLUFF DR $989,500 4 2.1 3039 DETACHD
851 9TH ST $1,250,000 4 2.1 2753 DETACHD
3210 CHILDS RD $1,270,000 3 2.2 2936 DETACHD
2445 GLENMORRIE DR $1,525,000 5 4.2 5168 DETACHD
310 CHANDLER PL $2,150,000 4 3.1 4200 DETACHD
3072 LAKEVIEW BLVD $3,988,000 4 5 4500 DETACHD

PENDING SALES (July 23-29, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #99 $210,000 2 2 984 CONDO 25
4095 JEFFERSON PKWY $379,500 2 2.1 1710 CONDO 26
16060 BONAIRE AVE $389,000 3 1 960 DETACHD 3
12868 BOONES FERRY RD $389,900 2 2.1 1136 CONDO 63
45 GREENRIDGE CT $394,900 3 2.1 1645 TOWNHSE 36
6137 Childs RD $421,000 3 1 946 DETACHD 6
17268 FERNWOOD DR $525,000 3 2 2086 DETACHD 73
3585 LAKE GROVE AVE $550,000 4 2 1575 DETACHD 46
50 AQUINAS ST $585,000 4 2.1 2415 DETACHD 9
5835 RIDGETOP CT $598,000 4 2.1 2375 DETACHD 118
17020 CHAPIN WAY $684,900 4 3 3258 DETACHD 9
4804 HERITAGE LN $739,000 4 2.1 2458 DETACHD 6
17453 OAK MEADOW LN $799,990 4 2.1 3294 DETACHD 8
2107 GOODALL CT $1,059,000 4 3 3029 DETACHD 82
4450 UPPER DR $1,100,000 3 1 2580 DETACHD 12
13348 LESLIE CT $1,200,000 4 2.1 3863 DETACHD 40
17432 KELOK RD $1,249,000 4 2.1 3023 DETACHD 68
17108 CHAPIN WAY $1,395,000 4 4 4474 DETACHD 89
1093 CHANDLER RD $2,095,000 5 4.1 5331 DETACHD 176

SOLD (July 23-29, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
65 GALEN ST / Grnd $169,900 $172,500 1 1 690 CONDO 26
16250 PACIFIC HWY #51 $192,500 $187,500 1 1 841 CONDO 44
4000 CARMAN DR E82 $199,023 $195,000 2 1 827 CONDO 7
153 OSWEGO SMT / Grnd $224,153 $210,000 2 2 1383 CONDO 57
16250 PACIFIC HWY #76 $325,000 $325,000 3 2 1745 CONDO 117
1120 BOCA RATAN DR $360,000 $366,000 3 2 1611 ATTACHD 6
18821 LONGFELLOW AVE $389,000 $389,000 3 1 946 DETACHD 17
84 GREENRIDGE CT $459,900 $435,000 4 2.1 2868 ATTACHD 158
49 TANGLEWOOD DR $595,000 $570,000 4 2.1 2491 DETACHD 24
710 BRIERCLIFF LN $585,000 $590,000 3 2.1 1906 DETACHD 4
14636 DORIS AVE $725,000 $760,000 3 2 2451 DETACHD 2
2398 PALISADES CREST DR $829,900 $786,000 4 2.1 3362 DETACHD 18
154 BERWICK RD $839,000 $839,000 5 3.1 3020 DETACHD 5
1565 PINE ST $950,000 $950,000 4 2 2830 DETACHD 32
4749 UPPER DR $1,199,000 $1,140,000 4 2.1 3285 DETACHD 171
1620 FERNWOOD DR $1,199,900 $1,280,530 3 3.1 3371 DETACHD 47
400 IRON MOUNTAIN BLVD $1,799,000 $1,675,000 4 3.1 4258 DETACHD 105

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

News & Notes ~ June 2018

Here’s your look at the latest numbers in for the entire Portland area (June).

What a difference a month makes! Overall we’ve seen a little slowing from last year, but a bit mixed with New Listings up 2.7%, Pending Sales down 1.7%, and Closed Sales down 2.2%.

Here is your look at the most recent data for the entire Portland area (June) and how Lake Oswego fits in to this picture just below:

  • According to the RMLS Market Action Report for the Portland Metro Area, June, 2018:
    • There were 4,515 New Listings in June 2018 which was down 4.7% from June of 2017’s 4,739, and down 3.2% from the previous month/May of 2018’s total of 4,665.
    • At 2,946, June Closed Sales fell  7.6% from June 2017’s 3,187, and/but were up 5.1 % from the previous month/May 2018’s total of 2,803.
    • June’s Pending Sales (accepted offers), at 3,059 dropped 6.0% from June of 2017’s 3,254, and were also down 4.4% from the previous month/May 2018’s total of  3,201.
    • The Average Sale Price in June of $472,400 was up $31,800 from June 2017’s $440,600, and also up from May 2018’s $460,700 by $11,700.   

Neighborhoods: June’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $430,100              6.7%   (May 418,700)
  • NE Portland:  $490,000                   7.0%   (May 504,700  )
  • SE Portland:  $443,600                   6.7%   (May 404,900)
  • Gresham/Troutdale:   $357,900   10.4%   (May 346,000)
  • Milwaukie/Clackamas:  $434,100  6.6%   (May 427,900  )
  • Oregon City/Canby:   $434,100      7.1%   (May 435,800)
  • Lake Oswego/West Linn:$685,700 8.8%   (May 718,200)
  • West Portland:    $635,600             1.7%   (May 603,300)
  • NW Wash County:  $572,200          5.2%   (May 564,500)
  • Beaverton/Aloha:     $400,100        8.8%   (May 388,700 )
  • Tigard/Wilsonville:   $481,500        9.1%   (May 471,700 )
  • Hillsboro/Forest Grove: $409,900  9.1%   (May 397,400)

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of June 2018 reported:

    •  341 Active Listings   (May 422)
    •  261 New Listings     (May 306)
    •  192 Pending Sales  (May 191)
    •  154 Closed Sales      (May 175)
    • Average Sale Price for June: $685,700  (May 718,200)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  52 Average Days on the Market   (May 63)

Market Activity ~ July 9-15, 2018

Last week 27 New properties entered the market in Lake Oswego, 24 moved to Pending status, and 23 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 9-15, 2018)

Address List Price # Beds # Baths Total SF Prop Type
56 CERVANTES CIR $210,000 2 1.1 912 CONDO
4652 LOWER DR / Upper $210,000 2 1.1 1170 CONDO
86 KINGSGATE RD H203 $215,000 2 2 849 CONDO
44 EAGLE CREST DR #22 $227,999 3 2 1085 CONDO
209 OSWEGO SMT / Upper $250,000 2 2 1383 CONDO
203 CERVANTES / Upper $280,000 2 2 1100 CONDO
17 SUMMIT RIDGE CT $365,000 2 2.1 1558 ATTACHD
9 JUAREZ ST $479,900 4 3.1 2570 DETACHD
5316 LOWER DR $575,000 3 2.1 2016 DETACHD
18761 INDIAN CREEK WAY $585,000 4 2.1 2005 DETACHD
50 AQUINAS ST $585,000 4 2.1 2415 DETACHD
17411 TREE TOP LN $649,000 4 3 3382 DETACHD
6419 SW DAWN ST $649,900 4 2.1 2016 DETACHD
5555 FIELDSTONE CT $785,000 4 2.1 2712 DETACHD
5670 CHARLES CIR $859,000 4 2.1 2968 DETACHD
19505 OLSON AVE $925,000 5 2.1 3022 DETACHD
13822 MELROSE PL $1,050,000 4 3.1 3529 DETACHD
14117 BARRINGTON CT $1,095,000 4 3 3503 DETACHD
4450 UPPER DR $1,100,000 3 1 2580 DETACHD
18953 PILKINGTON RD $1,115,000 4 3 3420 DETACHD
452 7TH ST $1,150,000 4 2.1 2600 DETACHD
18989 PILKINGTON RD $1,219,000 4 3 3640 DETACHD
2277 SUMMIT DR $1,288,000 4 3.1 4659 DETACHD
18977 PILKINGTON RD $1,289,000 4 3 3590 DETACHD
401 9TH ST $1,348,000 4 3.1 4288 DETACHD
4287 HAVEN ST $1,349,950 4 3.1 4007 DETACHD
17036 Canal CIR $1,485,000 4 3 3931 DETACHD

PENDING SALES (July 9-15, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #6 $164,900 1 1 617 CONDO 54
74 OSWEGO SMT / Upper $225,000 2 2 1140 CONDO 3
100 GREENRIDGE CT $365,000 3 2.1 2004 TOWNHSE 2
5110 CARMAN DR $423,900 3 1 1407 DETACHD 4
4366 WOODSIDE CIR $437,500 3 2.1 1963 ATTACHD 3
18609 KRISTI WAY $439,999 3 1 1154 DETACHD 15
19071 LONGFELLOW AVE $465,000 3 1 1152 DETACHD 40
1318 LAUREL ST $574,900 4 2.1 1645 DETACHD 4
4693 LAKEVIEW BLVD $624,990 3 2 2021 DETACHD 2
161 C AVE $625,000 2 2.1 1719 ATTACHD 2
1871 KILKENNY DR $649,000 5 2.1 3086 DETACHD 11
4801 JEAN RD $650,000 6 6.1 3400 DETACHD 177
5117 GREENSBOROUGH CT $650,000 3 2.1 1560 DETACHD 30
5937 BAY POINT DR $764,000 4 2.1 3402 DETACHD 33
3056 WEMBLEY PARK RD $950,000 4 2.1 2611 DETACHD 4
2949 WESTVIEW CIR $989,900 4 3 3326 DETACHD 35
19320 LORNA LN $1,100,000 4 3.1 4192 DETACHD 134
3540 RED CEDAR WAY $1,150,000 5 3.1 4023 DETACHD 15
795 6TH ST $1,200,000 3 2 2655 DETACHD 11
1925 CHILDS RD $1,290,000 5 4.1 5207 DETACHD 238
17455 Ridgeview LN $1,328,000 4 3.1 4561 DETACHD 121
18262 MEADOWLARK LN $1,398,800 5 3.1 4757 DETACHD 67
2090 CREST DR $1,695,000 3 2.1 3258 DETACHD 0
13910 STAMPHER RD $1,950,000 4 3.1 4488 DETACHD 35

SOLD (July 9-15, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
26 CERVANTES CIR / Grnd $215,000 $215,000 2 1.1 912 CONDO 25
86 KINGSGATE RD / G101 $219,000 $220,000 2 2 840 CONDO 6
3433 MCNARY PKWY #501 $225,000 $225,000 2 2 1136 CONDO 8
5225 JEAN RD #107 $279,900 $285,000 2 2 1200 CONDO 18
1408 LAUREL ST $300,000 $300,000 3 1 850 DETACHD 0
21 SUMMIT RIDGE CT $419,000 $415,000 2 2.1 1654 ATTACHD 60
19200 REDWING CT $499,900 $475,000 4 3 2128 DETACHD 41
16053 LAKE FOREST BLVD $494,950 $500,000 4 2 2100 DETACHD 174
14332 SHERBROOK PL $524,900 $507,000 3 2.1 1770 DETACHD 35
18679 INDIAN CREEK DR $600,000 $575,000 4 2.1 2276 DETACHD 48
328 4TH ST $624,900 $595,000 2 2.1 1731 TOWNHSE 17
2765 GLEN HAVEN RD $695,000 $650,000 4 2.1 2277 DETACHD 27
1250 HEMLOCK ST $649,900 $650,000 5 2 2465 DETACHD 13
1422 ASH ST $665,000 $659,000 4 3 2997 DETACHD 327
412 LIVINGOOD LN $725,000 $672,000 5 2.1 3928 DETACHD 39
75 TOUCHSTONE $700,000 $675,000 4 2.1 2373 DETACHD 49
19 JUAREZ ST $739,900 $750,000 3 2.1 3584 DETACHD 1
3766 RIVERS EDGE DR $799,000 $803,000 5 3.1 3428 DETACHD 3
3240 WESTVIEW CT $874,900 $850,000 4 3.1 3121 DETACHD 46
4635 DOGWOOD DR $895,000 $875,000 3 3 4584 DETACHD 612
19626 PERCH CT $1,099,000 $1,050,000 4 2.1 3494 DETACHD 4
950 OAK TER $1,150,000 $1,150,000 4 2.1 3787 DETACHD 7
15495 VILLAGE DR $1,545,000 $1,471,496 5 4.1 5401 DETACHD 24

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

Market Activity ~ June 25-July 1, 2018

Last week 35 New properties entered the market in Lake Oswego, 25 moved to Pending status, and 25 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (June 25-July 1, 2018)

Address List Price # Beds # Baths Total SF Prop Type
47 EAGLE CREST DR #52 $149,900 1 1 666 CONDO
4 TOUCHSTONE #99 $210,000 2 2 984 CONDO
4000 CARMAN DR #E74 $210,000 2 2 836 CONDO
3954 CARMAN DR $340,000 2 2.1 1132 CONDO
4095 JEFFERSON PKWY $379,500 2 2.1 1710 CONDO
18609 KRISTI WAY $439,999 3 1 1154 DETACHD
4862 INDIAN CREEK CT $524,500 3 2 1390 DETACHD
1841 CLOVERLEAF RD $525,000 5 3 2190 DETACHD
17797 OVERLOOK CIR $574,900 4 2.1 2908 DETACHD
13413 VERMEER DR $629,900 4 3.1 2529 DETACHD
1871 KILKENNY DR $649,000 5 2.1 3086 DETACHD
4848 LOWER DR $699,000 4 3 2548 DETACHD
1445 GREENTREE CIR $749,000 4 3 2662 DETACHD
2972 VALE CT $750,000 4 2.2 3120 DETACHD
934 ASH ST $794,900 4 2.1 1982 DETACHD
17435 UPPER CHERRY LN $799,000 3 2.1 3384 DETACHD
13947 MAJESTIC CT $835,000 3 3 2822 DETACHD
5099 LAKEVIEW BLVD $849,000 3 3.1 2747 DETACHD
1159 BAYBERRY RD $949,000 4 2.1 2508 DETACHD
6335 Burma RD $989,900 4 4 3508 DETACHD
3710 MARQUIS CT $998,000 4 3.1 3827 DETACHD
19463 LORNA LN $999,500 4 3.1 4055 DETACHD
17808 HILLSIDE WAY $1,100,000 4 3.1 3045 DETACHD
418 NORTHSHORE RD $1,129,000 3 2 2838 DETACHD
3540 RED CEDAR WAY $1,150,000 5 3.1 4023 DETACHD
12975 SW ELK ROCK RD $1,199,000 5 3.1 4579 DETACHD
820 FAIRWAY RD $1,298,000 4 3.1 3758 DETACHD
19125 35TH PL $1,349,900 4 4.1 5153 DETACHD
817 HOODVIEW LN $1,369,000 5 4 4141 DETACHD
4212 SOUTHSHORE BLVD $1,398,000 4 4 3129 DETACHD
13010 KNAUS RD $1,435,000 4 3.1 4470 DETACHD
1277 CHANDLER RD $1,998,000 4 3.1 4500 DETACHD
4011 WESTBAY RD $2,100,000 5 3.1 4518 DETACHD
14335 FOSBERG RD $2,250,000 5 3.2 6526 DETACHD
1075 CHANDLER RD $2,300,000 5 4.1 5710 DETACHD

PENDING SALES (June 25-July 1, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
65 GALEN ST / Grnd $169,900 1 1 690 CONDO 26
16250 PACIFIC HWY #51 $189,900 1 1 841 CONDO 44
532 S STATE ST / Grnd $215,000 1 1 829 CONDO 48
18821 LONGFELLOW AVE $389,000 3 1 946 DETACHD 17
45 GREENRIDGE CT $394,900 3 2.1 1645 TOWNHSE 7
1731 ASPEN CT $419,500 3 2 1440 DETACHD 10
668 MCVEY AVE #54 $499,000 3 1.1 992 CONDO 48
5751 WASHINGTON CT $500,000 5 2 2120 DETACHD 4
710 BRIERCLIFF LN $585,000 3 2.1 1906 DETACHD 4
1179 LARCH ST $609,900 3 2 3206 DETACHD 6
5564 BONITA RD $619,000 3 2.1 2435 DETACHD 40
760 TIMBERLINE DR $639,900 4 3 3058 DETACHD 5
5685 CHARLES CIR $700,000 4 2 2542 DETACHD 5
15 DEL PRADO ST $725,000 4 2.1 2185 DETACHD 8
15818 SPRINGBROOK CT $849,500 3 3 2538 DETACHD 77
1828 PALISADES TERRACE DR $880,000 4 2.1 3264 DETACHD 33
18265 RIVER EDGE CT $1,020,000 3 3.1 3464 DETACHD 56
740 7TH ST $1,195,000 7 7 5431 DETACHD 410
721 7TH ST $1,249,000 4 3.1 4544 DETACHD 58
140 BERWICK RD $1,295,000 4 2.1 3114 DETACHD 43
1903 EGAN WAY $1,448,000 3 2.1 2795 DETACHD 5
635 IRON MOUNTAIN BLVD $1,589,000 5 3.1 4736 DETACHD 64
18296 MEADOWLARK LN $1,698,000 5 3.1 5770 DETACHD 84
1460 SKYLAND DR $1,795,000 4 4.1 4760 DETACHD 23
14390 UPLANDS DR $3,888,000 4 4.1 7656 DETACHD 0

SOLD (June 25-July 1, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #4 $205,900 $210,900 2 2 823 CONDO 2
40 OSWEGO SMT / Upper $215,000 $223,000 2 2 1140 CONDO 4
3852 BOTTICELLI ST $279,000 $301,000 3 2 1224 CONDO 2
5055 FOOTHILLS DR B $339,000 $314,500 3 2 1252 CONDO 252
8 BRITTEN CT $399,900 $390,000 2 2 1175 ATTACHD 36
16141 PARKER RD $435,000 $415,000 3 1 1008 DETACHD 24
14796 DAVIS LN $459,900 $455,000 3 2.1 1964 ATTACHD 212
10 CHURCHILL DOWNS $515,000 $497,000 4 3 2080 DETACHD 36
6123 FROST LN $510,000 $500,000 3 2.1 2214 DETACHD 0
14555 SHERBROOK PL $549,900 $550,000 4 2.1 2942 DETACHD 8
4746 AMHERST CT $610,000 $595,000 3 2.1 2985 ATTACHD 310
4007 BRIAN CT $650,000 $638,500 4 2.1 2282 DETACHD 5
1458 GREENTREE CIR $680,000 $650,000 4 2.1 2156 DETACHD 17
17986 SAINT CLAIR DR $725,000 $685,000 4 3 2750 DETACHD 19
5747 VICTORIA CT $694,000 $694,000 4 2.1 2432 DETACHD 28
303 LAKE BAY CT $700,000 $700,000 3 2.1 1563 DETACHD 0
6073 CARMAN DR $729,900 $712,500 3 2.1 2751 DETACHD 210
5676 SUNCREEK DR $919,000 $865,000 4 3.1 3312 DETACHD 32
475 IRON MOUNTAIN BLVD $899,900 $889,900 5 3.1 3254 DETACHD 23
4190 CHAD DR $925,000 $905,000 4 3.1 3818 DETACHD 40
5047 WOODCREST LN $925,000 $931,500 4 3.1 3713 DETACHD 12
4250 LORDS LN $1,278,000 $1,245,000 4 3.1 3516 DETACHD 299
689 G AVE $1,275,000 $1,275,000 4 2.1 3422 DETACHD 3
13740 FIELDING RD $1,495,000 $1,495,000 4 3.1 4471 DETACHD 12
2236 SUMMIT CT $2,200,000 $2,050,000 3 2.1 4066 DETACHD 243

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

News & Notes ~ May 2018

Happy Summertime!

Here is your look at the most recent data for the entire Portland area (May) and how Lake Oswego fits in to this picture just below:

  • According to the RMLS Market Action Report for the Portland Metro Area, May, 2018:
    • There were 4,665 New Listings in May 2018 which was up 6.3% from May of 2017’s 4,388, and up 16.9% from the previous month/April of 2018’s total of 3,990. ***This was the strongest may for New Listings since 2008 when the number was 5,182.
    • At 2,803, May Closed Sales fell  3.2% from May 2017’s 2,896, and/but were up 11.1% from the previous month/April 2018’s total of 2,523.
    • May’s Pending Sales (accepted offers), at 3,201 dropped 6.8% from May of 2017’s 3,435, but were up 6.4% from the previous month/April 2018’s total of 3,008
    • The Average Sale Price in May of $460,700 was up $20,500 from May 2017’s $440,200, and also up from April 2018’s $452,000 by $8,700.   

Neighborhoods: May’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $418,700              5.7%   (Apr 428,500)
  • NE Portland:  $504,700                   7.0%   (Apr 491,000 )
  • SE Portland:  $404,900                   7.3%   (Apr 422,400)
  • Gresham/Troutdale:   $346,000   10.9%   (Apr 348,400)
  • Milwaukie/Clackamas:  $427,900  8.3%   (Apr 430,200 )
  • Oregon City/Canby:   $435,800      7.4%   (Apr 419,300)
  • Lake Oswego/West Linn:$718,200 7.5%   (Apr 630,500)
  • West Portland:    $603,300             1.2%   (Apr 598,800)
  • NW Wash County:  $564,500          5.0%   (Apr 525,700)
  • Beaverton/Aloha:     $388,700        8.9%   (Apr 394,600)
  • Tigard/Wilsonville:   $471,700        8.8%   (Apr 491,900)
  • Hillsboro/Forest Grove: $397,400  8.4%   (Apr 389,700)

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for the month of May 2018 reported:

    •  341 Active Listings   (Apr 341)
    •  261 New Listings     (Apr 261)
    •  192 Pending Sales  (Apr 192)
    •  154 Closed Sales      (Apr 154)
    • Average Sale Price for May: $718,200  (Apr 630,500)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  63 Average Days on the Market   (Apr 63)

Market Activity ~ June 11-17, 2018

Last week 21 New properties entered the market in Lake Oswego, 23 moved to Pending status, and 26 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (June 11-17, 2018)

Address List Price # Bedrs # Baths Total SF Prop Type
47 EAGLE CREST DR #21 $199,000 2 1 932 CONDO
39 OSWEGO SMT / Grnd $225,000 2 2 1212 CONDO
12 OSWEGO SMT $249,000 2 2 1140 CONDO
4000 CARMAN DR #C49 $349,500 2 1.1 1004 CONDO
6321 ALYSSA TER $379,000 3 2.1 1546 TOWNHSE
34 WHEATHERSTONE #17 $410,000 3 2.1 1692 CONDO
1731 ASPEN CT $419,500 3 2 1440 DETACHD
49 TANGLEWOOD DR $595,000 4 0.3 2491 DETACHD
1878 SOUTHSHORE BLVD $595,000 4 2.1 2594 DETACHD
5117 GREENSBOROUGH CT $650,000 3 2.1 1560 DETACHD
17036 CRESTVIEW DR $675,000 4 3 2768 DETACHD
15368 WALUGA DR $675,000 3 2 1876 DETACHD
19233 INDIAN SPRINGS RD $745,000 4 4.1 3485 DETACHD
18028 GIMLEY CT $774,900 4 2.1 3454 DETACHD
14322 EDENBERRY DR $799,990 4 2.1 2806 DETACHD
17144 WARREN CT $850,000 4 2.1 2778 DETACHD
5726 CHARLES CIR $869,500 4 3.1 3196 DETACHD
17600 UPPER CHERRY LN $1,168,000 4 3.1 3900 DETACHD
17661 WOODHURST PL $1,170,000 4 3.5 4840 DETACHD
140 BERWICK RD $1,295,000 4 2.1 3114 DETACHD
13047 KNAUS RD $1,295,000 4 3.2 4176 DETACHD

PENDING SALES (June 11-17, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4615 LAKEVIEW BLVD / Grnd $199,900 1 1 753 CONDO 31
26 CERVANTES CIR / Grnd $215,000 2 1.1 912 CONDO 25
572 S STATE ST / Uppeer $250,000 2 1 914 CONDO 6
48 EAGLE CREST DR #1C $285,000 2 2 1370 CONDO 25
28 NORTHVIEW CT $500,000 3 3 2092 ATTACHD 63
10 CHURCHILL DOWNS $520,000 4 3 2080 DETACHD 36
15115 TWIN FIR RD $549,000 3 2 1400 DETACHD 5
14273 AMBERWOOD CIR $549,000 3 2.1 2350 DETACHD 4
19350 MARLIN AVE $549,000 4 2 1820 DETACHD 56
1129 CHERRY LN $579,950 3 2.1 2196 DETACHD 5
18679 INDIAN CREEK DR $600,000 4 2.1 2276 DETACHD 48
4220 ALBERT CIR $615,000 4 3 2405 DETACHD 20
2660 LOOKOUT CT $624,500 3 3 2565 DETACHD 43
17226 TUALATIN ST $649,000 4 2.1 1984 DETACHD 16
6072 CLAIRMONT CT $700,000 4 3 2653 DETACHD 45
630 9TH ST $849,000 4 3 2576 DETACHD 19
3144 GLENMORRIE DR $880,000 3 2.1 2582 DETACHD 162
5416 SOUTHWOOD DR $899,000 4 2.1 3340 DETACHD 3
2949 WESTVIEW CIR $989,900 4 3 3326 DETACHD 3
19626 PERCH CT $1,099,000 4 2.1 3494 DETACHD 4
441 8TH ST $1,179,900 4 3 2748 DETACHD 169
13348 LESLIE CT $1,200,000 4 2.1 3863 DETACHD 1
936 EVERGREEN RD $1,975,000 3 2.1 3772 DETACHD 6

SOLD (June 11-17, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE $239,000 $231,500 3 4.1 1351 CONDO 27
750 1ST ST $297,000 $305,000 2 2 1350 CONDO 5
3986 CARMAN DR $317,500 $325,000 2 2.1 1107 CONDO 55
4442 THUNDER VISTA LN $335,000 $332,000 2 2.1 1829 CONDO 29
1857 BOCA RATAN DR $388,000 $388,000 3 2 1611 TOWNHSE 3
99 KINGSGATE RD $449,950 $425,000 2 2 1224 DETACHD 23
18963 LONGFELLOW AVE $449,750 $449,750 3 1.1 1239 DETACHD 228
15370 QUARRY RD $489,900 $480,900 3 1.1 1540 DETACHD 7
106 KINGSGATE RD $489,900 $500,000 3 2.1 1669 DETACHD 5
1605 MEADOWS DR $570,000 $575,000 3 2 2186 DETACHD 7
1483 WOODLAND TER $769,900 $575,100 4 2.1 2861 DETACHD 147
1991 GREENTREE RD $625,000 $611,500 4 3 2655 DETACHD 89
377 LIVINGOOD LN $624,000 $629,000 3 2.1 2409 DETACHD 2
2814 VALE CT $700,000 $685,000 4 3 3192 DETACHD 21
97 GARIBALDI ST $749,000 $800,000 3 2.1 3559 DETACHD 4
9 BUCKINGHAM TER $798,000 $843,000 4 3 2766 DETACHD 5
14041 EDENBERRY CT $775,000 $860,000 4 2.1 3077 DETACHD 8
19158 MEGAN PL $900,000 $880,000 4 3.1 4910 DETACHD 50
5566 LUCE LN $990,000 $950,000 5 3 3088 DETACHD 39
1299 COUNTRY CMNS $1,229,000 $1,150,000 4 4.1 3710 DETACHD 13
888 FAIRWAY RD $1,360,000 $1,210,000 4 2.2 5788 DETACHD 192
13615 WESTLAKE DR $1,350,000 $1,275,000 4 4.1 4050 DETACHD 130
18040 SKYLAND CIR $1,345,000 $1,345,000 4 2.2 4140 DETACHD 2
3914 EDENS EDGE DR $1,548,000 $1,548,000 5 5.2 6635 DETACHD 11
1655 LESLIE LN $1,725,000 $1,665,000 4 3.1 4805 DETACHD 341
1500 RIDGECREST DR $1,797,000 $1,675,000 5 5 4817 DETACHD 307

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

Market Activity ~ May 29-June 3, 2018

Last week 19 New properties entered the market in Lake Oswego, 14 moved to Pending status, and 29 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 29-June 3, 2018)

Address List Price # Beds # Baths Total SF Prop Type
1120 BOCA RATAN DR $360,000 3 2 1611 ATTACHD
4308 BOTTICELLI ST $424,950 3 3.1 2098 TOWNHSE
668 MCVEY AVE #12 $435,000 3 1.1 992 CONDO
31 PARTRIDGE LN $610,000 4 3 3125 DETACHD
17310 CANYON DR $649,000 5 3 2716 DETACHD
17976 CARDINAL DR $665,000 4 2.1 2936 DETACHD
5687 LA MESA CT $704,999 4 3 2458 DETACHD
17640 TREE TOP WAY $739,000 4 3 2718 DETACHD
17965 LAKE HAVEN DR $749,000 4 3.1 2764 DETACHD
5027 ROSEWOOD ST $874,950 4 3.1 3188 DETACHD
5853 SOUTHWOOD DR $875,000 5 2.1 3707 DETACHD
30 HILLSHIRE DR $949,950 4 2.1 3725 DETACHD
950 OAK TER $1,150,000 4 2.1 3787 DETACHD
125 MIDDLECREST RD $1,479,000 4 3.1 3242 DETACHD
19376 RIVERWOOD LN $1,600,000 4 3.1 4762 DETACHD
1099 TERRACE DR $1,799,950 5 4.1 4965 DETACHD
1810 NORTHSHORE RD $1,850,000 5 3 3553 DETACHD
1101 FOREST MEADOWS WAY $2,295,000 4 3.1 5001 DETACHD
320 CHANDLER PL $2,895,000 5 3.1 4675 DETACHD

PENDING SALES (May 29-June 3, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
86 KINGSGATE RD G101 $219,000 2 2 840 CONDO 6
48 EAGLE CREST DR #4E $299,000 2 2 1489 CONDO 48
1381 BONNIEBRAE DR $305,000 3 1.1 1303 TOWNHSE 3
8 BRITTEN CT $389,900 2 2 1175 ATTACHD 36
6123 FROST LN $510,000 3 2.1 2214 DETACHD 0
5153 JEAN RD $570,000 8 3 2400 DETACHD 15
18 JUAREZ ST $595,000 3 2.1 2521 DETACHD 10
4746 AMHERST CT $599,000 3 2.1 2985 ATTACHD 310
75 TOUCHSTONE $685,000 4 2.1 2373 DETACHD 49
5747 VICTORIA CT $694,000 4 2.1 2432 DETACHD 28
18462 ANDUIN TER $699,000 4 2.1 2982 DETACHD 109
17986 SAINT CLAIR DR $699,500 4 3 2750 DETACHD 19
630 9TH ST $849,000 4 3 2576 DETACHD 5
4635 DOGWOOD DR $895,000 3 3 4584 DETACHD 612

SOLD (May 29-June 3, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
354 CERVANTES CIR #1C $205,000 $198,500 2 1.1 912 CONDO 18
4000 CARMAN DR #A7 $214,900 $214,900 2 2 866 CONDO 6
200 BURNHAM RD #203 $222,000 $220,000 2 1 1160 CONDO 18
805 MAPLE ST $419,900 $447,000 3 2 2344 DETACHD 3
1137 SPRUCE ST $479,900 $484,900 3 2 1214 DETACHD 3
668 MCVEY AVE / Grnd $500,000 $500,000 3 1.1 992 CONDO 27
17132 REBECCA LN $505,505 $505,505 3 2.1 1763 DETACHD 7
4391 UPPER DR $549,000 $510,000 4 2.1 1740 DETACHD 22
5071 W SUNSET DR $529,900 $515,000 2 2.1 1734 TOWNHSE 34
4555 WILDWOOD ST $499,000 $527,600 3 2 1565 DETACHD 6
17288 TUALATIN ST $598,800 $621,000 3 2.1 1820 DETACHD 3
14145 REDWOOD CT $675,000 $642,000 4 3 2558 DETACHD 71
4 BERNINI CT $665,000 $665,000 4 3 3028 DETACHD 10
4051 VIRGINIA WAY $679,333 $703,333 3 2 1750 DETACHD 2
1235 ANDREWS RD $775,000 $776,500 3 2 2506 DETACHD 3
19240 BRYANT RD $799,000 $805,000 4 3 3452 DETACHD 3
754 OAK MEADOW CT $839,900 $851,000 4 2.1 3283 DETACHD 4
13864 AMBERWOOD CIR $900,000 $892,500 4 2.1 3115 DETACHD 4
2715 GLEN EAGLES RD $950,000 $900,000 4 2 2500 DETACHD 130
64 BERWICK RD $949,000 $915,000 4 3.1 3740 DETACHD 23
18151 WESTVIEW DR $895,000 $925,000 5 3.1 3827 DETACHD 3
4305 UPPER DR $950,000 $940,000 5 2.1 3483 DETACHD 191
13507 STREAMSIDE DR $999,000 $1,004,000 4 3.1 3716 DETACHD 2
2643 RIVENDELL RD $1,100,000 $1,020,000 5 3.1 3466 DETACHD 47
1619 BAY VIEW LN $1,224,000 $1,060,000 5 3.1 4922 DETACHD 237
4643 FIRWOOD RD $1,099,000 $1,075,000 3 2.1 2790 DETACHD 25
16206 REESE RD $1,449,900 $1,433,250 4 3.1 3631 DETACHD 0
15567 VILLAGE DR $1,695,000 $1,680,000 5 4 4934 DETACHD 2
16828 ALDER CIR $1,795,000 $1,738,030 3 3 2363 DETACHD 99

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

Be Careful When Wiring Funds

One of the urgent issues that has developed in real estate, and in pretty much any area where large amounts of money are being transferred via wire, is wire fraud. We are all learning to be defensive in what we open that comes into our email in boxes. Never open a link from someone you don’t know, that sort of thing. But the wire fraud scam is very clever. Here is how it works. Thieves hack into email accounts and look for activity that could be a good target. Things like emails from Realtors and Title Companies. They then do an outstanding job of duplicating the official look of the people involved and they watch and wait for when it looks like the sale is coming to the point of money exchanging hands. Then they strike by sending out an official-looking email that tells the recipient to wire their funds needed to close to an account that they have set up. Being a good party to the transaction, the victim wires the requested funds. Boom. They’ve just been ripped off.

The biggest victim I’ve heard of using this technique was Southern Oregon State University. In the course of building a new building on campus they fell victim to someone claiming to be a contractor who needed to be paid. The loss was over a million dollars.

So beware. Realtors and Title companies know this is going on and are taking strong measures to protect clients. I personally have set up a double layer password system that requires a code sent to my cell phone to access my email account. From my end I am working very hard to not be hacked. But there are a few things that you can do as well.

1. Protect email accounts: Perpetrators of wire fraud often carry out their crimes after having hacked an email account. Use a strong password, change it periodically and use two factor authentication on any accounts used in connection with real estate closings. Customers should be strongly encouraged to do the same.

2. Call, don’t email: Customers should confirm all wiring instructions verbally before transferring funds. They should independently verify the phone number of the settlement agent or closing attorney (e.g. website, purchase contract, business card, etc.).

3. Be suspicious: It’s not common for wiring instructions and payment info to change. It’s also not common for the lender to provide wire instructions. A good mortgage company will never provide wire instructions to its homebuyers.

4. Confirm it all: Customers should ask their bank to confirm not only the account number but also the ABA routing number and the name on the account before sending a wire.

5. Verify immediately: Customers should contact the settlement agent or closing attorney to validate that the funds were received. Detecting that funds were sent to the wrong account within 24 hours offers the best chance of recovering the money.

6. Forward, don’t reply: When responding to an email, click on forward instead of reply and then start typing in the person’s email address. Criminals use email addresses that are very similar to the real one for a company. By typing the email addresses, it’s easier to identify if you’re a target of fraud.

7. Use a cashier’s check instead: Customers should consider not wiring funds at all. They should speak with the settlement agent or closing attorney about the procedures for using a cashier’s check instead of sending their funds by wire.

Be smart and be safe out there.