valentinosdcpulse: June 2009

A condominium is a great housing option both for young professionals buying their first home and for more established buyers who like the convenience of condo living.  Some condos are small and compact; others rival homes in the amount of space they offer.  All condos offer private space, freedom from maintenance, and tax advantages - three reasons why they continue to be a popular housing choice.

When you look for a condo, what might appeal to you is the layout.  There are many other things you should watch to assure that you remain a happy owner once the last box is unpacked.  Your Realtor® will be a great help in reminding you of some things to keep in mind.

First thing is, where is the condo located?  Is the neighborhood moving up or down?  Is it convenient to shopping, cultural, and recreational activities, and good schools?  Even if you love the condo, you want to feel safe in the neighborhood.  You want to be able to easily pick up a gallon of milk if you realize you're out on Sunday morning.  Down the road, when you're ready to move on, you want a neighborhood with good resale value.

What do the common areas look like?

•   Is the outside, whether it is a high rise or just a couple stories, in good condition and nicely landscaped?

•   You may not live in the lobby but how the place looks in common areas can tell you a lot about the place.  Are the lobby and community rooms kept up? 

•   Does the building have convenient and discretely placed laundry facilities, community rooms, saunas, locker rooms, game rooms, individual storage spaces, and spots for trash?

•   What about parking?  Is there plenty of parking?  Is it discretely placed in the back or underground?  Even if you ride the bus or Metro to work, you might have a car that you use on weekends that you want to keep safe.

•   Are all public and private entrances equipped with double-lock systems? Electronic surveillance, where possible, is even better.

What about the living units?

•   Are the air-conditioning and heating units well-placed?  You might want to ask the owners about heating costs.

•   Are walls, ceiling and floors soundproofed?  Can you smell someone else's fried perch in the halls?

•   Is the suite covered with well-padded, good-quality carpeting?  If you are aiming for hardwood floors, what kind of condition are they in?

•    Does the place have first-rate kitchen and bathroom appliances and facilities?  Aside from appearance, older appliances are often not energy efficient and can cost you each month in higher utility costs.

•    Is the kitchen equipped with an exhaust fan for cooking fumes?

Maybe some items on this list don't seem like deal breakers.  However, over the long run, a poorly ventilated kitchen, paper thin walls, and a daily hassle over where to park your car can make you very dissatisfied with your home.  What you might have put up with in a rental will grow old quickly when you are writing a big, fat mortgage check.

There's a home for everyone in the greater D.C. area.  Visit Rachel Valentino's Atlantic Coast Connection website for a rundown of available listings and the scoop on D.C. neighborhoods.  Whether your budget dictates your ideal home is in DuPont Circle or an outlying neighborhood, will find you a place you like and then help you evaluate whether the condo will stand the test of time. 

When people think of D.C. neighborhoods, Georgetown is the first one that comes to mind.  Known for its historic row-homes, cobblestone streets, steep inclines, and nearness to the Potomac River, it is a destination for nightlife and shopping.  Though its housing prices may not be for the faint of heart or many young first time buyers, there are many affordable properties in the neighboring vicinities.  Even those who don't live in Georgetown (whose boundaries are Whitehaven Street, Rock Creek Park, Potomac River, and the Georgetown University campus), you can live in a neighboring area (such as Dupont, Palisades, Glover Park & others) and be there in a 10-15 minute walk to enjoy its many attractions.

You can't separate Georgetown from its historic past.  Even in the early days of America, famous men like Thomas Jefferson lived there and George Washington drank in its taverns, including the City Tavern which still exists at the corner of Wisconsin Avenue and M Street. Georgetown was the fashion and cultural center of young Washington, D.C. but eventually lost its luster as wealthy residents moved to new Victorian homes around Dupont Circle.  Known as a shipping center for much of the 19^th century, the city deteriorated until its rediscovery after World WWI.  New apartments were constructed and plans were developed for preserving Georgetown, which still contained many remnants of its waterfront industrial buildings and mix of homes.

Starting in the 1930's, several members of President Roosevelt's cabinet moved to Georgetown and the area started to be a trendy place to live again.  By the 1950's, the Citizens Association of Georgetown was founded to actively preserve historic buildings.  John F Kennedy lived there as a congressman and Senator in a townhouse at 3307 N Street and the area became the scene of many parties that diverted the prominent political nightlife from downtown.  Today, Georgetown is one of the most affluent neighborhoods in D.C. and the home to many politicians, lobbyists, and wealthy citizens.

Property in Georgetown is always in demand, although many of the historic Federal townhouses are small enough that people joke you can stand in the living room and touch both walls with your outstretched arms.  No new building is currently underway but there are several exciting restorations of historic buildings that will create the Wormley School Condos and Townhouses and the Sheridan Garage Condominiums.  It is one of the few areas that was unaffected by the housing slump.  The average price of property in Georgetown is $1,435,180 - double the average listing price of properties elsewhere in D.C.  About 78% of properties in the area are single family homes.  About half the residents are single; only 10% have children. 

You don't have to actually live in Georgetown to enjoy shopping at Georgetown Park at Wisconsin and M Street, where you can visit the stores of designers Betsey Johnson, Hugo Boss, Kate Spade, and Ralph Lauren, and others, then dine at a variety of restaurants to site every taste.  Another interesting area to visit is Washington Harbour complex on K Street, on the waterfront, which features outdoor bars and restaurants where you can eat, drink, and view boat races.  In homage to Georgetown former shipping days, you cruise the Chesapeake and Ohio Canal on a tour boat or walk or jog along the canal ‘s adjacent trails.

If you are interested in Georgetown property or other condos, lots, and single homes in the D.C. area, you need an expert!  Rachel Valentino can help you find the D.C. home that fits your lifestyle and budget in this exciting city.  Check out my Atlantic Coast Connection website today.

This year I was just selected as Greater Capital Area Association of REALTORS® (GCAAR) 2008 Rookie of the Year!  This is a very exciting accomplishment for me....especially considering it is an award given by my fellow peers in the industry.

The Rookie of the Year is presented to a REALTOR® who has been licensed for five years or less and has shown outstanding dedication to the real estate industry and the local community. GCAAR (made up of more than 11,000 real estate professionals in the greater capital area) is the organization for REALTORS^® in Washington, DC and Montgomery County, Maryland.

I am not the type of person who gets into things just to be there.  When I chose to get into real estate, I turned down other opportunities because I saw real estate as a great career track, a perfect blend of my marketing and entrepreneurship.  I hoped and counted on being a leader and making a difference!

I am extremely fortunate -- my running start has brought me early success.  I was the Rookie for the Year for the Friendship Heights office of Long & Foster (2007).   I am currently the #1 Individual Producer at Long & Foster's Friendship Heights office which ranks me among the top of Realtors® nationwide.   I was also just honored to be on the cover of REALTOR® Magazine's "30 Under 30" issue this June.  And a month before that, it was 2009 Washington Life Magazine's "The Young & the Guest List" and Washington City Paper  naming me "Best Real Estate Agent" for 2009. It's been an unbelievable start to 2009, but I never forget my unassuming first priority - working with my clients.

My focus has been on the Generation X and Y buyers who are often seeking their first home.  I understand the complexity and the psychology of the purchasing cycle, especially for this age group.  Younger buyers often like to start their home search on the web and come to the buying process very well informed about their options.  Once they are ready to jump into the fray, they want quick response time to their questions and someone that can listen, know their needs ,and lead them through the jungle of buying or selling a home.  That's why I have worked to develop a website with lots of depth.  I am on all the major social networking sites.  If you type my name into Google, you are likely to have me come up with all things D.C., such as restaurants.  I make myself available.  I believe in real estate at the speed of life!

So far, my approach has been successful for my clients too.  I have helped many people purchase homes who initially were on the sideline or didn't think they could afford their own home. I put them in touch with great professionals and educate my clients that home ownership is about things far deeper than dollars and cents.

If you are looking to buy in the D.C. area, check out my Atlantic Coast Connection website, which features testimonials from many satisfied clients.

Just the other day, I got this nice reminder from my accountant at Finesse Tax Accounting LLC about the $8,000 tax credit.  Those of us in real estate assume everyone knows all about it, but many potential homebuyers are unsure of the details.

Are you a first time homebuyer?  Are you thinking of buying your first home? Exciting times call for exciting tax credits. 2008 and 2009 have seen the IRS institute two large tax credits for those who decide now is the time to get into their first home 

Don't miss out on either of these credits. There are deadlines, income limitations, and some other factors that may impact which credit you can take and how much you will receive. See the list below for more details and please call or email our offices to take advantage of the credit that is right for you.

As you may have heard, there are some ways you can get the credit now to help with your downpayment and closing costs.  Please contact me or Finesse for details.

• You can not have owned a qualified personal residence in the last 3 years.

• The $7500 credit applies to homes purchased 4/8/08 thru 12/31/08 and must be repaid ($500/year for 15 years). NO INTEREST

•  If you purchased a home in 2008 and you qualify for the DC First Time Homebuyer Credit you must take that instead.  Contact our office at (240) 417-7234 for the details.

• The $8000 credit applies to a home purchased 1/1/09 thru 12/1/09 and there is no repayment requirement on this credit.

• Already filed your 2008 returns and bought a house after your 2008 returns were done? Amend those returns to collect the $8000 credit if you went to closing after you filed. We can help get you amend to claim the credit NOW.

•  Income limitations do exist and the credit begins to "phase out" if your income falls between $75,000-$95,000 (Single) or $150,000-$170,000 (Married Filing Jointly)

•  If you wish you do not have to amend your 2008 returns. You can wait and claim a credit for 2009 home purchases on your 2009 returns.

 Though it's not even the Fourth of July, the time clock is winding down on the credit.  Now is the time to get serious about buying your first home in the D.C area.  I will help you find the ideal Washington condo, loft, or single family home - that's my job and my passion!  Check out my Atlantic Coast Connection website today!

This month, I have the rare honor being on the front cover of Realtor Magazine, as part of Class of 2009 30 under 30.  For several years, the National Association of Realtors (NAR) has selected a group of young professional with promising careers from among hundreds of applicants.  I am privileged to be among this group this year.

Each of us in this top 30 group has our own challenges in the markets where we work, but what binds us is our willingness to try innovative new ways of serving our customers.  We see the real estate profession as not just way to sell houses but as helping customers make the most important purchase of their life.  The old days (where a buyer first saw a property at an open house he saw in the paper) are long gone; today's buyer may still visit an open house but he/she has already done a web search of properties in the area and has more sophisticated understanding of the market.

As a young Realtor, I have found my niche working with 20- and 30- buyers who are web-savvy and who contact me on Facebook almost as much as by phone.  I have built up my website so that visitors can get a thorough understanding of the vibrant D.C. area.  Every client is treated like a VIP client & a friend.

"Rachel always treated us like V.I.P. clients, which we greatly appreciated. If people can be judged by the company they keep, then it speaks very highly of Rachel that all the professionals she has referred us to have been top-notch. From our mortgage broker to the locksmith, even right down to the neighborhood pizza joint, Rachel's referrals have made moving into our first home a smooth transition." - AnnMarie & Brian Frere

Check out the video for 30 under 30 at http://link.brightcove.com/services/player/bcpid23776578001?bctid=23847369001.

If you are looking to buy in the D.C. area, check out my Atlantic Coast Connection website, which features testimonials from many satisfied clients.