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It's exhilarating meeting with new buyer clients. Why you ask? Because their excitement is contagious! At the same time, it can also be a confusing time when you're not sure how to proceed.

As such, I've put together a step-by-step guide for folks to learn how to buy your first home in Washington, DC:

First -- Are you ready to own a home? Truth be told, buying your first home in Washington, DC is a big commitment and responsibility. You need to be psychologically, emotionally, and financially ready for home ownership. Do you want maintenance? If no, look at alternate options such as communities with an HOA (homeowners association) or condominium/co-op.

Probably the first thing you should do after you have determined that you are ready to buy your first home in Washington, DC is obtain a copy of your credit report. Many websites, such as ConsumerInfo.com, offer this service for free, but I actually recommend sitting down with a lender instead so they can help you examine your credit report and correct any errors.

If your credit is not as good as it should be, they will guide you to think about paying off or paying down your debts before buying a home. If you are serious about buying, PLEASE ask me for a recommended lender first before you talk to anyone. Unfortunately, they are a HUGE part of your buying experience, so it's vital to be working with someone local and extremely professional/excellent. 

Once you know where you stand with your credit, you can begin thinking about what kind of house you want and where it should be located. Make a list of must-haves and wants. Really think about different locations and how it will work with your lifestyle and commute. Looking all over the metro area is painful and unnecessary. Narrow it down before you talk with a realtor. This will make it MUCH easier for a realtor to pinpoint DC, MD or VA area homes that would be of interest to you.

Determining how much Washington, DC area home you can afford is another crucial step in buying your first home. The best thing to do is talk to one of our lenders and get prequalified for a mortgage.

Keep in mind that you'll need money for closing costs, inspection, and a down payment. Often you can roll some of these costs into your mortgage or get a seller to pay (except for down payment). Your lender and realtor can help you figure out what the cost of buying your first Washington, DC home will be as well as how you can pay the costs.

Because there are many steps to buying your first Washington, DC home and these steps can sometimes be confusing, consider hiring an experienced realtor to help guide you through the process. Rachel Valentino is a  professional real estate agent in the Washington, DC area. If you are buying or selling a home in the DC area,  Valentino and  her team of DC-area real estate experts is a call you'll be glad you made.

When you are thinking about buying a home in Washington, DC, one of the first decisions you need to make is where the home should be located. DC? MD? Nothern Virginia? Most folks are surprised by how large the DC Metro area really is, so not surprisingly, it can present a real challenge when facing the question of where to look for a home.  

Buying a home isn't just about the house. You are also seeking a place that fits your lifestyle. Some of these lifestyle considerations include price, school system, commute, nearby services, community amenities, atmosphere, etc.

That's not to say that the type of house isn't equally as important. In this part of the country, certain types of houses tend to be located in different neighborhoods, so your personal tastes can also be a big determinant of final destination. If, for example, you're looking for a condo, the downtown DC, Silver Spring, Bethesda, Alexandria & Arlington areas are some of your best bets. But even within those locations, there are HUNDREDS of sub-markets based on your preferences. There are many well-priced options depending on which locale you prefer.

So how do you find the right DC-area location? This is where choosing a realtor is critical. You should develop and share with him/her a list of the ten things you are looking for in a home and neighborhood that you feel you must have. You should also have a realistic price range in mind. With these criteria, your realtor can narrow the search area down to places you can afford and that have the things you want. Trust me -- you don't need 6 months to find a house if you are working with the right agent!

It's possible, however, that you may need to make trade-offs. For example, you may need to decide if you prefer a large home with a longer commute than you want, or can you live with a smaller home and have less of a commute? Space vs. location tends to be the biggest trade-off that I see in my daily interactions with buyers.

So, have I convinced you?? Buying a home is about much more than just the house.  Rachel Valentino is your professional real estate agent in the Washington, DC area. She can help you sort out possible DC-area neighborhoods to find the one that fits you. If you are buying or selling a home in the DC-area, contact Rachel Valentino and her team of DC, MD & VA real estate pros. We have neighborhood experts for each given jurisdiction.

I just had a client tell me over the phone: "I will never again try to buy a home on my own..." While he had used our services to sell his current condo, he and his wife had found their dream home before we had a relationship and thus started a five-month stressful process of trying to negotiate directly with a builder.

BUYER BEWARE: If you are buying a new home in Washington, DC, make sure you have a real estate agent with you from the beginning. If you visit the model home and sign in without a realtor, the builder may not honor the agent afterward. Working with an agent ensures that you have someone looking out for your interests continually throughout the process: before, during, and after build-out is complete. Some builders may offer ready-to-sign contracts and offer to help arrange financing, but no surprise here -- they are not concerned to protect your best interest and ensure your protection! Things to consider when negotiating the build of your DC home are:

• One thing you absolutely must do is get everything in writing. This is where a real estate agent can be especially helpful.
• Put all deposit monies in a secure (non-related) escrow account. If the building company runs into financial problems, your money will be safe.
• Shop around for a mortgage lender. You may not get the best deal from the builder's recommended lender.
• Get at least three inspections: one right after the foundation is in, another before the drywall goes up, and a third when the building is complete. Just because your DC home is brand new, it does not mean that there won't be flaws!

If you have decided to build a home in the Washington, DC area, keep these tips in mind and absolutely consider hiring a real estate agent to help you negotiate with your builder to ensure that your DC home build goes smoothly. In the end, you'll be glad you did. Don't learn the hard way!

Rachel Valentino is your expert real estate agent in the Washington, DC area. If you are buying, selling, or building a home in the DC, MD or VA area, contact Rachel Valentino and her team of local real estate experts.

With bad economic news and a record number of home foreclosures making the headlines recently, there are those who have begun to question the value of owning a home. Owning a home still has economic as well as emotional value. If you would like to learn more about the value of owning a home in DC, MD or No VA , we can answer your questions and help you become a homeowner.

Owning a home should be considered a long term financial investment. During the housing boom, people bought and sold homes in very short time periods and made a handsome profit. When the bubble burst, many found themselves losing money when they had to sell quickly. Despite this, those who stayed in their homes over the long term have seen healthy gains in their property values.

The fact is the longer people own their homes, the more return they will see on their investment. According to a recent article in Realty Times, the typical seller who purchased a home eight years ago saw a median equity gain of $33,000, which is a 24 percent increase. Moreover, sellers who were in their homes for 11 to 15 years saw a median gain of 40 percent.

There is also an emotional value attached to home ownership. People enjoy having a place to call their own. In fact, home ownership is still considered part of the American Dream. A home is thought of as a symbol of success and belonging as well as a nurturing place to raise a family.

Home ownership can be rewarding both financially and emotionally. Invest in your financial future and gain the satisfaction of home ownership in the DC area. Start off on the right foot by contacting real estate expert Rachel Valentino of Valentino & Associates. She'll walk you through the process (all with a friendly attitude) so you can start your journey & start reaping the benefits in the years to come.

The Federal $8000 credit has been gone since April, 2010, but DC residents still have help just when it's needed! Congresswoman Eleanor Norton has won another two-year extension of the $5,000 DC homebuyer tax credit. The incentives are retroactive for 2010 and will continue through 2011. This is in addition to the five-year property tax abatement program currently in effect in DC. Income limits apply for both programs and you will need to complete separate forms for them. If you are considering the purchase of a new home in DC for the first time, contact Rachel Valentino and her team of DC real estate experts to help you determine how the DC homebuyer tax credit can help put you in a new home.

What is the DC homebuyer tax credit? It is a credit against the home purchaser's federal income tax. Homeowners can get a credit of up to $5,000 for their purchase.

Who is eligible for the DC homebuyer tax credit? Anyone who is a first-time buyer in DC is eligible for the tax credit. Persons who have previously owned a home outside of the District are also eligible. Purchasers may not have owned a home in DC for at least one year prior to the new purchase.

Are their other eligibility requirements? There are income restrictions for the tax credit. Married jointly-filing taxpayers with incomes up to $130,000 and individual taxpayers with incomes up to $90,000 qualify for the credit. KEEP IN MIND THOUGH -- this is adjusted gross income, so even if you are over these income brackets, it's possible you may still qualify. Pay for an accountant & find all of your applicable deductions so you can take advantage of this perk too... it will save you tons!

The credit begins to be phased out for married jointly-filing filers with incomes between $110,000 and the $130,000 limit. For individuals, the credit phase-out begins at $70,000. For example, single filers making $70,000 (or joint filers making $120,000) would receive a $2,500 credit; single filers making $90,000 (or joint filers making $130,000) would not receive the credit.

In addition, the dwelling must be residential. This includes houses, house-trailers, houseboats, cooperative apartments, and condominiums. There are no period-of-ownership restrictions or requirements.

How is it different from the DC Tax Abatement Program? The DC Tax Abatement Program is a property tax abatement. New homebuyers can exempt their home from property taxes for 5 years. The DC homebuyer tax credit is a credit against homebuyers' federal income taxes.

Are there any exclusions from the homebuyer tax credit? Homes purchased from related persons, by gift or inheritance, are not eligible. Related persons may include, but are not limited to, spouses, children, grandchildren, and grandparents. The credit can only be claimed once. If you have previously taken the credit on another DC home you are not eligible to claim it a second time. Homes that are not your main residence are not included in the tax credit program.

The DC Homebuyer Tax Credit is one of the ways to help you purchase a new home in the District of Columbia. To determine your eligibility for the tax credit as well as other homebuyer incentives, contact DC's real estate expert Rachel Valentino of Valentino & Associates. She can show you how the DC homebuyer tax credit can help put you in a new home.

P.S.  Feeling left out because you want to buy in Maryland? If you are a first-time homebuyer, you can qualify for an exemption from paying your portion of the State Transfer Tax (.25% of the Sales Price). This only applies as long as all buyers in the transaction have never owned a Maryland home before. Ask Rachel for the details.

As a famous sage (actually a Realtor in North Carolina) once said, the media has made it sound as if in the current buyer's market, homes are almost free.  While it is true that home values have dropped and made it possible for buyers to buy a lot more home for their money, this does not mean sellers are willing (or able) to give their home away.  The media hype has made first time buyers unrealistic and unprepared make a successful bid on a home. 

It is also true that prices are down from a year or two ago, that homes are plentiful, that interest rates (though rising a bit) are still historically low, and government incentives to buy are enticing.  However, in some markets (such as DC) homes in the price ranges most attractive to first time buyers have been snapped up by investors.  There is often a bidding war on lower priced homes.  Often times, the best deals are on homes that are owned by banks, which have intentionally been put on market at prices so low that they invite competitive bidding.

If you are a first time buyer who hopes to walk away with one of these homes, you need to be realistic and prepared.  Engaging the services of a competent Realtor with insight into the local market is essential.  Being flexible about the house is crucial.  It is highly unlikely that you are buying your dream home, so be willing to bid on an acceptable, affordable home.  This increases the likelihood that your bid will be accepted.  Once you have your first home, you are building your future for your next home.

Sellers in the current market may have to accept far less than they hoped, so the buyer is likely to win over other bids (if it comes to that) will have a better chance if he make the transactions trouble free for the seller.  Here are few things you can do if you are ready to buy and want your offer to win out:

• Complete a loan application so your financing is ready to go.
• Have a complete pre-approval letter signed by a person (not a form letter).
• Be willing to pay more than the asking price.
• Come equipped with a large downpayment.
• Be willing to buy the home as is and avoid haggling over small repair issues with the seller and put this in the contact.
• Still insist on a home inspection but within 5-7 days.
• Aim for a quick escrow.

You don't want to make an impulse decision when buying a home, but time is of the essence these days.  Coming to property showings ready to buy will serve you well!

Rachel Valentino can help you prepare to become a homeowner. She is very familiar with the DC metro area, so she can direct you to appropriate and affordable properties in the District, northern Virginia, or eastern Maryland.

It is a known fact that many people buy their first home with at least some help from the bank of Mom and Dad.  Like prudent loan officers everywhere, Mom and Dad may need some convincing that the kids are ready to buy and won't require monthly help to make the payment.   Especially if they are homeowners themselves, they need little convincing though, that homeownership is good deal, especially when the numbers show that there is little difference in the mortgage payment vs. their current rent in DC.

With the Home Buyer's Tax Credit in play, there are a couple of exciting ways for parents to help their children buy now.  While you can't sell your kids the family home and get the credit, you can help them buy another place.

If they are already credit worthy, you can help them with the downpayment, especially if they are going FHA.  IRS rules allow gifts of up to $10,000 per person per year.  When they go the $8,000 back, you can your money back - or consider that you are virtually "giving" an extra $8,000 to apply toward their payments or to furnish the new place.

If they aren't ready to get a loan on their own, you can also co-sign an FHA loan with them, maybe even help them with the 3.5% downpayment, and let them amend their taxes to get the credit now.  As noted above, this approach could help them buy the things they needed for the home when the credit came back. (This could prevent near future withdrawals from the bank of Mom and Dad to buy the carpeting or fix the garage!)

This approach can even work if your child is in school.  With the high cost of college room and board, you might come out ahead if you bought a $100,000 condo for 3.5% ($3,599 ) down.  Your child could claim the credit to offset the cost of other school expenses.  As long as they lived in the place for three years, they would not have to pay anything back.  Assuming the kid doesn't change his major to some esoteric specialty only available across the country, this would serve him well during his college years.  He could sell the place when he graduated, and use the proceeds to finance his new home or other life adventure. Or you and your child could become landlords and rent out the place to future students.

Rachel Valentino can help you figure out how to make the tax credit work for you. She is very familiar with the DC metro area, so she can direct you to appropriate and affordable properties in the District, northern Virginia, or eastern Maryland.

If you are looking for a contemporary hometown that is chock full of cultural heritage and charm, then Alexandria VA may be just the place for you. Alexandria, VA boasts an abundance of Colonial architecture, chic boutiques, a wide array of national retail stores, fine art and antiques galleries, historic attractions and award winning restaurants. This beautiful historic community is located along the Western bank of the Potomac River across from National Harbor and approximately only 6 miles south of downtown Washington DC.

With a population of approximately 140,000 residents, this diverse historic community has a lot to offer with an excellent public school system, abundant job opportunities, and beautiful waterfront views. In 2010, The USNews.com listed Alexandria as one of the Editors Picks for "Best Places". You can also read about Alexandra on Sterlings "Best Places".

Well known for its colonial architecture, here in the 3^rd oldest historic districts in the nation, you will find an abundance of 18^th and 19^th century buildings and homes situated along cobblestone walks. This is a beautiful city in all seasons and with Old Town there is never a lack of things to see and do such as Market Square, the oldest continuously operating marketplace in the United States. Old Town is also well known for its historic town houses, art galleries, antique shops, and restaurants.

Love your dog? Then Alexandria may be just the hometown you're looking for. About.com lists Alexandria as a ‘Top Dog Friendly" Destination. They list a number of fun activities for family and their furry friends to do together in Alexandria such as:

• Dog Friendly Dining and Happy Hours
• Pet Friendly Shopping and Snacks
• Top Dog Friendly Attractions and Things to Do
• About the Potomac Riverboat Company and Canine Cruises

 One of the biggest and most fun dog events in the entire Washington, D.C. area is the annual Alexandria St Patrick's Day Parade. Every year activities always begin with the Fun Dog Show. For year-round activities, the local Dept of Recreation also provides 17 designated Dog Exercise Areas and Fenced Parks for resident dog owners to enjoy.

Looking for an easy get a way to Washington DC or other nearby metro areas? Then look no further as Alexandria boasts four convenient Metro stops. Alexandria also offers bus service, Water Taxi, Free King Street Trolley and easy access to major interstate highways.

Prominent employers such as Time Warner and The Salvation Army call Alexandria home. In addition, there are many government organizations such as the US Patent and Trademark Office, which also supply numerous jobs to local residents allowing many to work and live right within Alexandria.

So if you're ready to look at real estate in an area rich with cultural history yet one that can offer contemporary charm, the consider talking to Rachel Valentino about Old Alexandria VA. With median home prices about $375,000, Alexandria offers varied housing options, including some high-end suburban estates, which provides an exceptional urban living lifestyle. Contact Rachel Valentino today or visit her Atlantic Coast Connection website today to get started.

If you are looking for a new home in an up and coming neighborhood, then H Street Corridor may be just the place for you. But you may want to move quickly, as this is a neighborhood that's making a comeback to its memorable status. History tells us that some of Martin Luther King's fondest family moments were spent participating in the H Street Halloween Day parades in the late 40s. After years of decline, H Street is making its comeback to sidewalks full of people and smiling merchants.

So far, recent years have seen new small businesses, bars, restaurants, art galleries, and home renovations up and down the corridor. The District is committed to investing in small businesses in the area and it shows. H Street is transforming into a unique neighborhood that blends the historic DC with the new. The wide array of new small businesses is impressive. Here you will find unique bars and restaurants housed in historic buildings along with eclectic shops and family owned businesses. In addition, there is currently more than a billion dollars in new development on the way on H Street. Download Brochure. People are visiting again and noting that H Street is a place that's changing.

Every day, new businesses move in, new construction begins, and new neighbors move in. If timing is everything, then the time to get into this neighborhood is now. This is still considered an area where young families can buy a new home. Currently, parts of H Street are being considered for historic district status, but prices are still reasonable, and one can still find vintage homes, especially rowhomes, in need of rehab for sale. There are also new additions to H Street like the Renee; if you are in the market for a reasonably priced condo, this may be for you.

Although currently H Street is an area in transition, within 5 years  H Street's official renovation/ beautification plan will be complete and the streetcars will be up and running. Also currently underway is the new 8th and H Street NE development with mixed use and ground level retail that will run from 8^th-10^th Street. This certainly is an area to keep your eye on!

More new developments in the area include:

Washington Real Estate Partners Project (600 blk of H St - South side)
Mixed-use project that includes 234 residential units, 500 parking spaces and ground-floor retail.

Capitol Place (200 blk of H St - South side)
Dreyfus Development's mixed use project with over 400,000 sq ft of retail, 300 condos, 380 parking spaces

Union Place - Loree Grand (200 blk of K St - North side)
Will house 30 artists in residence at 3rd & K Sts NE and will include over 200 residential units, a roof garden, a courtyard, a gym and ground floor retail with occupancy in March or April.

Near H Street: Capitol Hill Condos: The Station (old police station) (525 9th Street)
Design approved by ANC6A in September, targeted completion by end of 2010 with construction starting in February.

If you want to be part of this now trendy neighborhood, don't dally! Contact Rachel Valentino today. You will want to be in your new home when this area really takes off. Whether you are interested in condo living or a vintage historic home - DC expert Rachel Valentino can help you find the right home for you in one of DC's most exciting, dynamic, yet still affordable areas - H Street.

HOT NEWS: Believe in the unexpected. The Floridian, 118-unit luxury condominium located right in the middle of vibrant U Street Corridor just announced a spectacular Grand Opening Sales Event soon. Contact Rachel Valentino  today to register or learn more. With spectacular sweeping views, flawless finishes and lowered prices you won't believe, you won't want to miss this event. 1 bedrooms are starting at a remarkably low $333,000 or from $392,000 for a 2 Bedroom so expect them to go fast. Timing is everything, don't miss out! Contact Rachel for more details before it's too late. 

While the rest of Washington DC sleeps, there are a couple of notable neighborhoods that come alive at night. U Street is one such neighborhood where you can actually feel its history and the diverse beat of the music as this neighborhood shines each night in the cultural spotlight. "Funky", "Cool", "Ultra Urban" - these are just a few of the terms being used to describe one of DC's hottest condo markets well known for Ben's Chili Bowl and the Lincoln Theatre - U Street.

U Street has been praised in the New York Times, The Boston Globe, and Marie Claire to name only a few. Clearly, U Street is one of the hottest addresses in DC. Other metropolitan areas around the country are modeling U Street as a pure and simple example of Urban Renaissance. Steeped with history this beautiful neighborhood offers a rocking nightlife, the best in art galleries, the ultimate in restaurants and shopping, and is still known as one of the elite spots for jazz and blues music in the country.

U Street is no longer set apart from the rest of DC; today the green and yellow metro stops right in the middle of the neighborhood. And this Urban Renaissance beginning in the 90s after decades of neglect shows no signs of slowing down as it gathers speed. Rising from the ashes of the riots following Martin Luther King's assassination, the boarded up buildings and community neglect have been transformed into one of the most glorious of the DC Historic Districts. U Street Corridor has blossomed into a growing community of artists, boutiques, chic urbanites and nightlife seekers.

As is true of any great Urban Renaissance, here history, art, and architecture has been preserved and blended with the new. The greater U Street Historic District extends roughly from 16^th Street on the west to 7^th street on the east and from S Street on the south to Florida Ave on the north and includes over 1500 historic buildings. Year round both visitors and residents enjoy the fascinating history of the U Street area by walking City Within a City: Greater U Street Heritage Trail. There is also the African American Heritage Trail to explore and enjoy.

On all sides of U Street, the grid of streets is defined by a preserved collection of 19^th century residential row houses along with churches and corner stores. Then, during the recent transformation starting in the 90's, numerous luxury condominiums were built like Union Row and the Ellington giving fresh life to the neglected area. Today, nearly 10,000 new condos and apartments have been added to the U Street real estate landscape in the past decade. Hold on as the Floridian opens condo sales Feb 25 2010 and new life continues in U Street.

Rachel Valentino is on top of the best deals in the U Street area. Contact her now to get registered for the Floridian's Spectacular Grand Opening Event. Whether you are interested in a newer condo or a vintage row house, Rachel is standing by ready to help you achieve your homeownership goals. Be a part of this exciting neighborhood, put U into U Street!