Fake "Sold" signs

[Courtney]

Every morning on my bus ride to work, I see that Eastlake condo complex called Ruby ("Life Sparkles Here"). It's snuggled up all cozy against the I-5 southbound express lanes. Recently I noticed several of the units have "SOLD" signs in the windows facing the freeway.

A quick look at the assessor's site confirmed my suspicions that exactly zero have sold (parcel 7459970000). As a bonus, King County has assessed about 80% of the condos under $50k.

Is this a strategy used by agents generally? ..or just by desperate ones trying to sell condos under the expressway? That's gotta be a rough gig.

[jjl]

The nwmls show 7 Pendings and 4 sold. The 4 sold just closed this week. The county records can take 30 days or so to update their records with the sales.

There are no "fake" sold signs.

[Everett_Tom]

Courtney,

Some agents put up "Sold" signs when a home goes pending. These could be considered fake sold signs if the deal falls though... There was a long discussion of this either on Rain City Guide or the P.I. Real Estate blog some time back..(e.g. is it dishonest to put up a sold sign before the house closes? How about when it's pending and the contingencies haven't been removed?, etc..). I seem to remember the opinions being mixed...

[wreckingbull]

At that rate pendings are failing these days, I find the idea of a 'sold' sign pretty laughable. Courtney has a point.