Home Buyers Tax Credit: Extended, Expanded
In an effort to continue pushing the nation’s economy along the road to recovery, President Obama recently signed a bill that extends the first-time home buyer tax credit and expands the credit to include more buyers. Previously, the $8,000 first time home buyers tax credit was set to expire on November 30, 2009 but has now been extended, uninterrupted through April 30, 2010. A second credit of up to $6,500 has been added allowing existing homeowners to “move-up” and take advantage of the incentive. EXTENDED: First-time buyers who have not owned a home in the past three years are eligible for up to an $8,000 tax credit. Tax c

Weekly wrap-up
Heron and Pagoda Towers The Seattle Times reports that Heron/Pagoda Towers developer Multi Capital Group has lost part of the property through foreclosure. A developer who had proposed a $900-million, twin-tower development across Fifth Avenue from the Westin Hotel in downtown Seattle has lost part of the property to foreclosure. New York lender G4 Capital Partners took title to about half the site of the proposed Heron and Pagoda towers this week, according

October 2009 Seattle condo market update
The Seattle condo market rebounded in October with increases in sales, number of closings and median price, likely fueled by the rush to qualify for the first time home buyers tax credit that was set to expire at the end of this month. The median condo price rose to $300,000 last month, reflecting a 4.37% increase over last October and a one-month rise of 15.7% from September. That also reversed an 8-month slide in the year-over-year median price figures. In theory, the actual median price was higher than $300,000 as sales resulting from non-traditional means are not attributed in the NWMLS statistics. While I don’t have up-to-date closing numbers from the Brix and Galler

Queen’s Court reduces prices, again
Queen’s Court, a 34-unit development converted in early 2007, is looking to close out the remaining 16 homes. Queen’s Court just adjusted prices again, reflecting an additional 5.4% to 13.7% discount since their last reduction in September. Compared to prices from a year ago, the current prices reflect a reduction ranging from 19% up to 27%. Click for larger image:

More Seattle condos to be auctioned
TeamBuilder JLS has just announced the auction of 36 Seattle area condo properties, located in North Seattle and Capitol Hill, on December 5, 2009. The auction includes studio, one-bedroom and two-bedroom units at Avaview Condominium, Sunrise on the Lake and The Summit. All three properties are conversions. Avaview Condominium - 9056 Mary Avenue NW Six of the 11 homes at Avaview will be sold at the auction. Located in Seattle’s Crown Hill neighborhood, Avaview offers one and two-bedroom homes ranging in size from 646 to 738 square feet. Interiors feature stainless steel appliances, granite countertops and breakfast bars, frieze carpeting, private decks o