July Laurelhurst Real Estate Summary

Kim Dales has provided this neighborhood real estate activity monthly report:

4318 NE 42nd Street

listed for $1,149,950

July had only 7 new listings and of those 3 went from active to pending just this month.

Perhaps the most interesting sale was the property at 4115 51st Avenue NE, listed at $819,000. Per the request of the owner the home was shown for only 2 hours on a Tuesday afternoon with offers reviewed the following day. The home needed a significant amount of work but even with that it received 7 offers and will close in the $925,000 range.

Another unique property listed at  5009 48th Avenue NE for $800,000, not in the Beach Club boundaries, received 9 offers and will close in the $1,000,000 range. Mid century modern style, level entry, no garage.

And lastly, a new construction home at 5143 47th Ave NE was listed and sold in 2 days.

If you are contemplating buying or selling be aware of wire fraud, which is becoming a growing concern with so much communication and instructions being sent over the internet.

I recently had a client from the east cost purchasing in Seattle who was given instructions to wire his earnest money to an escrow company in Seattle.  The next morning he received new instructions from the "same" escrow company. He didn't call for verification just wired his funds. He was lucky, realized his error, immediately contacted his bank, and was able to recover his $20,000. This is generally not the outcome.

Here are a few tips to protect against wire fraud:

1. Call, don’t email: Confirm all wiring instructions by phone before transferring funds. Use the phone number from the title company’s website or a business card.
2. Be suspicious: It’s not common for title companies to change wiring instructions and payment info,
3. Confirm: Ask your bank to confirm not just the account number but also the name on the account before sending a wire.
4. Verify immediately: You should call the title company or real estate agent to validate that the funds were received. Detecting that you sent the money to the wrong account within 24 hours gives you the best chance of recovering your money.
5. Forward, don’t reply: When responding to an email, hit forward instead of reply and then start typing in the person’s email address. Criminals use email address that are very similar to the real one for a company. By typing in email addresses you will make it easier to discover if a fraudster is after you.

July Summary:

ACTIVE

List Price	Address	Sq.Ft	Price per/sq.ft
*$800,000	5009 48th Ave NE	1,530	$522.88
*$819,800	4115 51st Ave NE	2,420	$338.50
$1,149,950	4318 NE 42nd St	2,500	$459.98
*$1,848,000	5143 47th Ave NE	3,925	$470.83
$2,150,000	3816 49th Ave NE	4,569	$470.56
$2,280,000	3600 W Laurelhurst Dr NE	4,200	$542.86
$2,980,000	4549 55th Ave NE	4,320	$689.81

* Listed and under contract in July

PENDING

List Price	Address	Sq.Ft.	Price per/sq.ft	DOM
*$800,000	5009 48th Ave NE	1,530	$522.88	7
*$819,800	4115 51st Ave NE	2,420	$338.50	5
*$1,848,000	5143 47th Ave NE	3,925	$470.83	2
$1,976,800	4545 55th Ave NE	3,810	$518.85	49

SOLD

List Price	Sold Price	Address	Sq.Ft.	Price p/sq.ft	DOM
$1,050,000	$1,222,000	4815 NE 44th St	2,660	$459.40	7
$1,495,000	$1,450,000	4212 37th Ave NE	3,500	$414.29	44
$1,575,000	$1,575,000	5125 NE 42nd St	2,980	$528.52	8
$1,985,000	$1,875,000	5119 NE 42nd St	3,380	$554.73	28
$6,750,000	$6,585,000	3027 W Laurelhurst Dr NE	5,220	$1,261.49	34