Market Update | Scammers Posing as Your Real Estate Agent

posted on July 26th, 2016 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

trends-at-a-glance-sep-2016Scammers Posing as Your Real Estate Agent

Wanted to share with you this great article from Money Magazine.

There’s a scam afoot, or, shall we say, a-wire that prospective homebuyers may want to be on the lookout for, and it happens like this: You’re nosing around the real estate market — maybe even close to buying a house or piece of property. And then you get a message from your real estate agent urging you to wire money to secure the deal.

As you might have guessed, a scammer is spoofing your real estate agent’s account and is waiting for your money.

How a Scammer Finds Their Target

Hackers snatch passwords when people log into free Wi-Fi networks or click on things like those cute-puppy emails. They search your inbox or your real estate agent’s inbox for any messages related to real estate transactions. Once they find you’re in the process of buying a home, they’ll send a fake message from your agent or attorney, title representative (or other trusted source), alerting you to new money wiring instructions to a fraudulent account. Once your money is wired, it’s likely gone for good.

To read the full article, click on this link:

http://time.com/money/4481906/real-estate-scam/

AUGUST SALES STATISTICS SINGLE-FAMILY HOMES

Year-Over-Year

  • Median home prices increased by 4.8% year-over-year to $550,000 from $525,000.
  • The average home sales price rose by 3.7% year-over-year to $689,770 from $665,092.
  • Home sales rose by 8.7% year-over-year to 2,353 from 2,165.
  • Total inventory fell 0.7% year-over-year to 8,899 from 8,964.
  • Sales price vs. list price ratio rose by 0.0% year-over-year to 98.1% from 98.1%.
  • The average days on market fell by 6.9% year-over-year to 36 from 39.

Month-Over-Month

  • Median home prices improved by 0.4% to $550,000 from $548,000.
  • The average home sales price rose by 3.9% to $689,770 from $664,172.
  • Home sales up by 4.3% to 2,353 from 2,255.
  • Total inventory dropped 1.7% to 8,899 from 9,050.
  • Sales price vs. list price ratio dropped by 0.2% to 98.1% from 98.3%.
  • The average days on market dropped by 1.2% to 36 from 37.

CONDOMINIUMS

Year-Over-Year

  • Median condo prices increased by 8.8% year-over-year to $387,500 from $356,000.
  • The average condo sales price rose by 5.7% year-over-year to $454,206 from $429,625
  • Condo sales rose by 7.0% year-over-year to 1,009 from 943.
  • Total inventory fell 11.1% year-over-year to 2,853 from 3,211.
  • Sales price vs. list price ratio rose by 0.5% year-over-year to 98.5% from 98.0%.
  • The average days on market fell by 18.5% year-over-year to 31 from 37.

Month-Over-Month

  • Median condo prices increased by 8.8% year-over-year to $387,500 from $356,000.
  • The average condo sales price rose by 5.7% year-over-year to $454,206 from $429,625.
  • Condo sales rose by 7.0% year-over-year to 1,009 from 943.
  • Total inventory fell 11.1% year-over-year to 2,853 from 3,211.
  • Sales price vs. list price ratio rose by 0.5% year-over-year to 98.5% from 98.0%.
  • The average days on market fell by 18.5% year-over-year to 31 from 37.

posted by Jeff DeChamplain

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Jeff DeChamplain