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The King County Sheriff's Office is looking for Michael "Chad" Boysen, 26, who had just served a nine-month sentence for a burglary conviction.
Local media identified the victims as Robert and Norma Taylor, both in their 80s.
Their car, a red Chrysler, was missing after their bodies were discovered at their Renton home on Saturday, and Boysen, who had been released from prison on Friday, was identified as the prime suspect.
Officials said that Boysen had searched the Web for gun shows across the Northwest and Nevada around the time of the killings, according to local news reports.
"He is considered armed and dangerous, threatened suicide by cop, spoke of obtaining firearms and planning an armed confrontation with police," a law-enforcement official said in scanner traffic that was reportedly overheard and posted to YouTube.
Those details could not be immediately confirmed; a sheriff's spokeswoman did not respond to a request for comment on Monday.
Boysen had an extensive criminal history over the past decade, which included robberies, burglary and an addiction to the prescription painkiller OxyContin, according to the Seattle Times.
"What could be the motive in this one? That's the puzzling thing to me," Patty Laronde, a friend of the victims, told KOMO-TV. "Just truly kind people."
The TV station reported that the couple were members of the local Church of Jesus Christ of Latter-day Saints.