Seattle Bubble Forum Archive

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.

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.

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...

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