CW Title and Escrow Newsletter | 7.2018

the

Volume 9 | Issue 7

EYE ON THE

JULY 2018

market

Summer 2018 in the Pacific Northwest is heating up with an increase in inventory from the previous spring season. While new inventory has been added, overall supply remains tight, fueling home price increases in the King County area.

According to recent figures published by the Northwest MLS for the month of May, an impressive 14,524 new listings were added. This many new listings have not been added since May 2008. This is good news for buyers looking in the King County area, as inventory has now topped a one-month supply. Despite these recent gains in supply, however, overall inventory is still low, sitting at 1.44 months of supply.

JULY happenings Northwest MLS stats also show that home prices are still climbing at doubledigit rates in most counties. Within the four Puget Sound county areas, King County achieved one of the largest gains, at 16 percent. Industry experts don’t expect the price increases to slow, and citing planned expansions by Amazon, Alaska Airlines and other companies as contributing factors.

Steadily rising home prices are causing more buyers to look towards Pierce County and other areas in the South Sound - even as far out as Thurston and Kitsap counties. Northwest MLS sources also point out that multiple offers on new listings are becoming common practice in Kitsap County, with homes often selling significantly above the list price.

With no end in sight for the current market trends, buyers can look forward to plentiful summer opportunities in our beautiful region.

If you suspect that you are a victim of wire fraud, it’s important to act quickly.

Take these steps immediately:

2) Request that your financial institution contact the corresponding financial institution where the fraudulent wire transfer was sent.

4 Tacoma Freedom Fair & Air Show freedomfair.com

6-8 Arlington Fly-In arlingtonflyin.org 13-14 Redmond Derby Days redmondderbydays.com 13-15 Ballard SeafoodFest seafoodfest.org 13-15 Kent Cornucopia Days kcdays.com 13-15 Kirkland Uncorked kirklanduncorked.com 13-15 West Seattle Summer Fest wsjunction.org

WIRE FRAUD damage control

1) Contact your financial institution immediately upon discovering the fraudulent wire transfer and request that they make attempts to stop it.

4 Seafair Summer 4th in Seattle seafair.com

3) Notify your local Federal Bureau of Investigation (FBI) office as soon as you suspect a fraudulent wire transfer. The FBI, working with the U.S. Department of the Treasury Financial Crimes Enforcement Network, might be able to help return or freeze the funds. (continued on next page)

14 Queen Anne Day queenannedays.com 18-22 Kla Ha Ya Days in Snohomish klahayadays.com 20-22 Bite of Seattle biteofseattle.com 20-22 Capitol Hill Block Party capitolhillblockparty.com 27-29 BAM ARTSfair bellevuearts.org/artsfair 27-29 Renton River Days rentonriverdays.org 27-29 Gig Harbor Wine & Food Experience harborwineandfoodfest.com 28 Seafair Torchlight Parade seafair.com

July calendar

WIRE FRAUD DAMAGE CONTROL

Wednesday, July 4 CW Title and Escrow and all counties are closed in observance of the Fourth of July holiday.

(continued)

Wishing You a Safe and Happy Independence Day!

GOLF TIPS FOR THE SUMMER

heat

With summer fun comes summer heat. Use these golf tips to stay cool on the course all summer long:

Wear sunscreen: Use at least SPF 30.

Even if there is cloud cover the sun's rays are still working.

Play early: Many courses open earlier in summer. Book a tee time before 11 to avoid the hottest part of the day.

Avoid sugary drinks: Drinks loaded with sugar will cause you to feel more dehydrated.

Stay hydrated: Drink ample amounts of water to stay cool. The summer sun can quickly dehydrate you before you even realize it.

Have a towel: Bring a towel to keep sweat at bay. Many companies now carry cooling towels to help you escape the heat.

Gear up: Wear visors, breathable fabrics and light colors to stay cool.

*For more tips, visit: aussiekids.com/tipsfor-playing-golf-in-the-summer-heat/.

REFRESH YOUR CHILD’S Summer is a great time to refresh a child’s room, especially if they are making the jump from elementary to middle school or from middle to high school. Here are a few tips to help you create a space your child will enjoy for years to come.

living space

Use your child’s own artwork and photography instead of purchasing art for the room. Get enlargements made in standard sizes which will make it easy to find frames to fit. Place art, photos and other wall accessories at a height that works from their perspective.

7) Change all of your passwords.

If possible, change usernames as well.

8) Whether the scammer contacted you via email or phone, report the incident to the Federal Trade Commission (FTC) at 1.877.382.4357 or online at www.ftc.gov/complaint.

What law enforcement needs to know: When contacting law enforcement or filing a complaint with the Internet Crime Complaint Center, identify your incident as “BEC/EAC.” Then provide the following helpful information to investigators:  Date and time of incident  Amount transferred  Originating business name  Originating financial institution name

and address  Originating account number  Beneficiary name

Choose a few durable, high-quality items that will grow with your child. Many furniture items are designed to adapt to a growing child with just a few adjustments.

The simpler it is, the more flexible it is.

Think out of the box for storage options.

Kids of all ages need lots of storage for their toys, clothes, shoes, sports equipment and school-related items. A hanging shoe organizer will serve nicely to organize toys for a toddler but then can later be used for shoes when the child is older. Labels will help your child know where to put things when it’s time to straighten his or her room.

4) Be sure to file a complaint with the FBI, regardless of dollar loss, here: www.ic3.gov.

5) For business email compromise/email account compromise (BEC/EAC), file a complaint here: www.bec.ic3.gov.

6) Notify all affected or potentially affected parties.

 Beneficiary financial institution name

and address  Beneficiary account number

Use space based on the age of the child.

A toddler will need more floor space to play, while an older child may want a table and chairs to sit and do homework with friends.

Removable wall decals allow you to change out the theme of a room without having to plan and budget for a major project.

And finally (or perhaps the first thing you should do), let your child have a say in how their space is decorated.

Help them search for items that express their interests and their personality.

Volume 9 | Issue 7

 Correspondent bank if known  IP, email address and/or phone

number of fraudulent contacts  Incorrectly formatted letterhead or

email signature  Description of contact with the

scammer, including frequency and timing of calls and emails  Describe if something just seemed

“off,” such as timing, requests for secrecy or immediacy, and/or unusual wording in the fraudulent phone calls or emails.