David Sundquist

If you click on the link below you can access the finest real estate search engine for finding the best available properties in the Seattle metropolitan and greater Puget Sound area. Just go to the map and zoom in on the city of interest and you will be shown all available listings in that area. If you find a listing you desire to tour just click the e-mail link and you will be contacted to view the property.

Also, if you are not currently under contract to buy from another real estate agent you might want to consider making your purchase through David's team. All clients who purchase through David receive the following benefits:

• If David does not get the seller to contribute at least $1200 toward your closing costs, then David will contribute the $1200 toward your closing costs.
• All clients of David's receive a "Standard One Year Home Owner Warranty" at closing. This policy pays for repairs for the systems and appliances in the house that may need repairs during the first year you own the property.

These bonuses apply ONLY to clients who purchase their property through David's team. To begin your search click on the following link: www.homes2profit.com

The Northwest Multiple Listing Service reported that in October 2009, the number of pending sales increased 63 percent as compared to the same month in 2008. At the end of October 2009, there were 38,159 active listings, a drop of 17.4 percent as compared to the same month one year ago.

In King County, closed sales were up 33 percent as compared to closed sales in October 2008. The median price of sold properties in King County in October 2009 was $377,5000, which was down from the $392,000 median price from October 2008. In Snohomish County the median prices of sold homes was $292,725, which was 12.2 percent lower than the median price from October 2008.

The sales of higher priced homes are increasing as buyers are taking advantage of soft prices. Higher end properties are selling for a substantial discount when compared to 2005 prices. As an example, a home in downtown Edmonds, that sold for $800,000 in 2005, can now be purchased in the range of $580,000.

To search for properties in the Seattle metropolitan area, go to my website www.davidsundquist.com

If you live in the Seattle metropolitan area and you have owned your home for 5 of the last 8 years, than you can receive a tax credit, if you move up. Check the details below. Pay attention to the deadlines. You have to be under contract by April 30, 2010 and close by the end of June 2010

The $8,000 homebuyer tax credit for first-time buyers, will be extended through April 30 of next year and buyers will have an additional two months, until the end of June, to close. First-time buyers who are in the process of making a purchase will no longer need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline. The new legislation increases the income limit for couples with income up to $225,000, a nearly $55,000 increase above the level in existing law.

For the first time, the new legislation makes buyers who already own a home eligible for a credit. A $6,500 maximum credit will be available to existing homeowners who have lived in their current residence for five of the prior eight years. The legislation limits eligibility for the existing homeowner credit to homes worth $800,000 or less.

The legislation takes effect December 1 and is not retroactive. Both credits are available only for primary residences, not second homes or investment properties.

Point Wells is a 61 acre site bordering the Puget Sound on the south corner of Snohomish county in the town of Woodway. The property has been used as an asphalt plant and a petroleum tank farm. The owner of the property is proposing cleaning up the site and turning it into a large, upscale development of condominiums, shops and restaurants. The only access to the site is through the Richmond Beach neighborhood in the city of Shoreline. This could be a huge development in the Seattle metro area, and there are passionate support and passionate resistance to this proposal. What do you think of this potential development? The Seattle Times does not allow me to link to this interesting article. To read the article you will have to copy the URL below and put it into the address bar above and then press enter to access.

http://seattletimes.nwsource.com/html/outdoors/2009543348_pointwells27m.html

Yesterday I viewed the 24 hour sales figures as reported by the Nortwest Multiple Listing Service and it demonstrated a trend that started one year ago and continues. Here are the sales figures from yesterday (includes all of western Washington)

Sales--595 new listings. 367 pending sales. But the amazing stat is that 124 properties came back on the market.

What this report says is that 34% of pending sales do not close. The sales failed, That is a staggering figure. In most markets maybe 5% of sales will fail. But in this market we have over 1/3 of sales failing to close escrow. What causes this phenomenon? Some of the sales fail because the buyer does not get approved for the loan due to tough lending standard. Another reason for sales failing to close is low appraisals due to tough appraisal standards. However, the biggest reason for sale failures is the lenders not agreeing to short sales. The underlying lender on short sale properties has to agree to sell for a loss and in many sales the listing agent and the seller do not provide the correct package to the lender to convince them to allow the sale. That is why-in my opinion- it is so important to list your property with a "Certified Distressed Property Expert". I have earned the designation of CDPE (Certified Distressed Property Expert)

To search all short sales and REO properties in the Seattle metropolitan area visit my website at www.seattle2edmonds.com Just set up your search parameters and you will be notified when new properties come on the market. You can also check my website www.davidsundquist.com to see the buyer bonuses my clients receive. There has never been a better time to buy residential real estate in the Seattle metropolitan area.