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Residents of DC & Arlington now have a great new bicycle sharing program available to them.  Capital Bikeshare offers 1100 bikes, 110 solar-powered stations and three different purchase options for those who would rather forego using motorized vehicles and instead get some exercise and sunshine!  Of course, if you tend to be Eco-minded, you will recognize the immediate benefits less noise and air pollution in the city.

Believe it or not, this actually has a cause/effect relationship with real estate - where many buyers were limited to only Metro-accessible neighborhoods before, non-Metro neighborhoods are now getting 'in the mix' when they introduce a Capitol Bikeshare station. Interest in these neighborhoods is growing with a new option for residents to get around. The convenience of the Bikeshare (you can pick up & drop off at ANY station) sits well with buyers who like being able to switch from Metro, bus & bicycle with ease.

Residents are able to use the bike share for work, errands, visiting family and friends, or catching a ride to the Metro.  Capital Bikeshare does recommend using helmets, but does not provide helmets for rent.  They do  have a link on the website for places where you can buy them all around the city. 

They offer online or phone sign-up by calling the customer service department at 1-877-430-BIKE (2453).  You can choose from 24-hour, 30-day, or 1-year plans.  If you choose the 24-hour plan, you will be required to have a $101 per bike security deposit on your account.  The funds will not be withdrawn, but there will be on hold for up to ten days.  Prices are currently as low as $5 for 24 hours and up to $50 for one year.  The yearly minimum will not stay that low, so act now!  The first 30 minutes of any trip are always free no matter which plan you pick. 

If you own an iPhone, Blackberry or Android smartphone, you can download the Spotcycle application; it is currently free.  Spotcycle shows the locations nearest you, as well as their statuses.  This app will free you up for more cycling time!

What are the nuts and bolts of the process to get your hands on one of these bikes?  After enrolling, you will receive your key in the mail within a week.  You will insert your key into any bike dock, a green light will appear, and then you should pull the handlebars toward you to release the bike.  There is a handy map on each bike rack for your convenience.  After your trip, you will return the bike to any location with an empty dock space.  Push the front wheel into the space, wait for the green light and you will know it is secured.  Careful though, the maximum time to hold any bike is 24 hours.

All Capital Bikeshare bikes come equipped with three speeds, internal hub gears, fenders, chain guards, lights, front racks and adjustable seats.  Remember: BYOH (bring your own helmet)! 

Capital Bikeshare is going to take the Washington, DC and Arlington, VA streets by storm!  Get involved and get some exercise.  Residents and visitors alike will enjoy this fun new way to travel around the city.   

Don't hesitate to call Rachel Valentino, DC's "Best Real Estate Agent" as voted by the Washington City Paper for a no-pressure consultation & discussion about what neighborhoods have been impacted by the introduction of the Capitol Bikeshare revolution. Rachel is on top of DC's real estate scene and is active in all avenues of the market - including private residences, new construction, luxury market and the condo and co-op community.

 
Are you in the market for a historic home with character in the Washington, DC, area?  Does a remodeled Victorian row house located within a few miles of the US capitol, downtown area, and several prestigious and well-known universities sound like your dream home? The Bloomingdale & LeDroit neighborhoods may be just what you're looking for.  

Bloomingdale is located in Ward 5 and lies right in the heart of the Washington, DC area with neighboring LeDroit Park to its west. This revived community is an ideal "suburb" in DC, and is home to older and new younger residents alike.  

Some notable past residents of the Bloomingdale/LeDroit neighborhoods include Samuel Gompers, the founder of the American Federation of Labor in 1886; Chita Rivera, an accomplished Broadway star and recipient of the Kennedy Center honor by the president; and founders of the first privately owned black art gallery, James V. Herring and Alonzo J. Aden.  

There is a new and hip scene happening in the Bloomingdale and LeDroit Park areas. You will find a sense of community and belonging here at Big Bear Cafe, located at 1^st and R St NW, and at Cookie's Corner, located at 2^nd Street & Elm NW. Check out Big Bear Cafe if you enjoy a warm, friendly and interesting atmosphere and great mix of clientele. Their coffee and sandwiches are highly recommended. During the summer and fall months there is also a neighborhood farmers market on R St. immediately in front of Big Bear that was recently rated among the best in DC. Cookie's Corner is a convenience store that offers pizza as well as sandwiches, owned by the same owner as LeDroit Park Market. You will find both of these local establishments a welcome addition to the neighborhood. 

In addition to Big Bear there is a wave of new restaurants coming to the area with the first of these, Rustik, opening just recently in September. Already the reviews are great and Rustik is drawing crowds from outside of the neighborhood as well. Check it out if you are interested in a casual dinner out - Rustik is at 1^st and T St. NW.   

If you are not quite sold on owning a Victorian row house, Parker Flats is a relatively new development in the area and appeals to those in the luxury condominium market. In 2005, Gage School was transformed into Parker Flats, an award-winning three-site housing development. BloomingdaleDC.org notes that "The development of this 90+ residential project has turned a community eyesore into a well-integrated project."  

Already the development has won the 2008 AIA Northern Virginia Chapter, Award of Excellence in Historic Architecture, and the 2008 DC AIA Chapter/Washingtonian Residential Design Awards: Exceptional Design Award. Since these flats are selling quickly with no units remaining in the original Gage School building and only 3 units remaining in the newer buildings, the homes are popular with buyers too. 

Take a closer look at the Bloomingdale/LeDroit neighborhoods. You will find this historic, close-knit community has undergone a revitalization. If ties to the community, a sense of belonging, and beautiful architecture with a past are appealing to you, come for a visit. Prices are still affordable here but on the rise. If you are interested in seeing some of the options that exist, don't hesitate to call Rachel Valentino, DC's "Best Real Estate Agent" as voted by the Washington City Paper for a no-pressure consultation. Rachel is on top of DC's real estate scene and active in all avenues of the market - including private residences, new construction, luxury market and the condo and co-op community. 

In the busy, fast-paced world of Washington, DC, how do you eat right?  A wonderfully colorful variety of fruits and veggies can be had for quite a deal at those quaint little produce stands popping up all over in the summertime. What's great about the DC area is that you can find such healthy alternatives right in the city, as well as in more suburban areas.

Your local farmer's market offers veggies that aren't pre-packaged, stamped, and wearing those small stickers that mean you probably should be looking elsewhere for your nutrition requirements! Irradiated, non-organic produce is just not ideal. If you have access to sun-ripened fruits and veggies, by all means, go for it!

For Eco-minded, health-conscious vegetarians, vegans, and raw vegans, they truly are the equivalent of a quick trip through a fast food drive-thru. If you're pressed for time on a lunch break, or traveling on vacation with the family and need to satisfy a few hungry kids in the backseat, roadside produce stands can really come in handy. Armed with nothing but a knife and some napkins, you can eat a fresh lunch that's healthy, local, and deliciously satisfying.

Those of us aspiring to eat more raw fruits and veggies as well as seasoned raw vegans truly are lucky to happen upon one of these stands not just while meandering down a country back road or lonely highway but near your job, or near your home. Who can resist juicy, red, ripe tomatoes grown the old-fashioned way? Cucumbers and melons are the perfect cool-down foods after a sweltering day in the sun - or a hot and heavy day at work. The snap and crunch of raw okra and sugar snap peas replaces those potato chips you want to avoid. 

The next time you see one of those little stands on the side of the road, don't hesitate! Pull over, check out the selection, and have a quick chat with the grower. It's nice to put a face with your food. Fresh produce is loaded with all the vitamins, nutrients, and minerals your body craves. Sun ripened is supreme. This is fast food the way nature intended!

FRESHFARM Markets is a network of 11 farmers markets scattered throughout the Chesapeake Bay region.  The organization was started in 1997 when the first market at Dupont Circle opened. FRESHFARM Markets incorporated in 2002 as an independent and nonprofit. They are producer-only markets, meaning farmers can sell only what is grown or produced on their own farms, ensuring local, freshly grown fruits, vegetables, meat and dairy products.

FRESHFARM Markets features cooking demonstrations through the Chef at Market program, where local chefs, cooks, and home-cooking enthusiasts create freshly prepared dishes with the produce. The Gleaning program distributes surplus produce to local communities who are in need of food. And be sure to check out the wonderful database of recipes on the website!

You can find a FARMFRESH Market in Dupont Circle, on H Street NE, Penn Quarter, at the Health and Human Services Building on Independence Avenue SW, and near the White House on Vermont NW. In addition to these markets, there are others supplied by local producers in Adams Morgan, Columbia Heights, and various locations around the city. (See the Washington Post list for more area markets.) Several of these markets, including the ones at 14^th and U and at Bloomingdales made the list to Top 20 Farmer's Markets.

Needless to say, DC farmer's markets are right in line with the new emphasis on healthy eating promoted by the First Lady, Michelle Obama. She is a major supporter of local farm markets, has planted a garden at the White House, and supports the urban gardening movement in the city.

For a longer introduction to DC farmer's markets, see the 29-minute video.

You can find raw food, fast food right in the city.  Want the home of your dreams, in the neighborhood of your choice, near some of the best-rated farmer's markets in the nation? Don't hesitate to call Rachel Valentino, DC's "Best Real Estate Agent" as voted by the Washington City Paper for a no-pressure consultation. Rachel is on top of DC's real estate scene and active in all avenues of the market - including private residences, new construction, luxury market and the condo and co-op community. 

Once upon a time, the H Street corridor of the Northeast was one of the biggest shopping and entertainment districts in the DC region. The 1968 riots that followed the death of Dr. Martin Luther King disrupted that for a time. As recently as 5 years ago, much of it was still a mix of boarded-up storefronts, Chinese carry-out restaurants and discount beauty salons. The DC Main Streets program helped older businesses expand and undergo facelifts, and promoted new housing and business development in the area. 

For starters, The Atlas Theater reopened, which we were thrilled to see. The Argonaut and other restaurants and bars also began to pop up around the neighborhood. This brought in some trendy hipsters in the mood for late-night fish sandwiches at pubs like Horace & Dickie's. Then, things really started to explode in a way no one could have expected...and restaurants, theaters and neighborhood night spots like the ones just mentioned began attracting extremely large crowds. 

Now, after reading all of that, you may be wondering - what else is so attractive about H Street? 

Well, H Street has become SO MUCH more than a strip of late-night bars. Some have compared it to the old U Street NW, before U Street became more gentrified. For instance, there is dance and cutting-edge art, just to start. If you're a savvy Washingtonian, you probably know all of this, but if you are new to the area, here are some interesting places you should check out - many of which keep us coming back.

• Studio H Gallery: H Street has certainly become the "hot spot" in which to check out new art. Recent solo exhibitions at the Studio H space have included photos and installations by graffiti artist Tim Conlon and marionette-inspired pieces by painter Ellen Cornett.
• The Atlas Performing Arts Center offers music and dance classes, as well as theatrical performances.
• Little Miss Whiskey's Golden Dollar: This dimly lit main bar has quickly become a staple of the H Street scene. Its lush, New Orleans-meets-gilded-bordello decor reinforces the "you're not in Washington, DC anymore" vibe. Here's some more "HAPPY" for this hip little joint: Every other Wednesday, it's dress-up time with something they like to call "Kostume Karaoke" which promises to be a good time.  
• The Rock and Roll Hotel: One of the early pioneers on H Street, the Rock & Roll Hotel plays a key role in the D.C. music scene. The venue has a knack for picking winners to perform there and features a "rock heaven" decor and excellent game nights.
• The Liberty Tree: Fans of New England seafood will love this one-room restaurant & bar. With features such as fresh lobster rolls on a toasted bun, there's no question as to why this place is an absolute hit! They also feature such selections as scallop pot pie & roasted or breaded cod sandwich...YUM! I'm thinking H Street should stand for DC's Happy Street from that description alone!
• Some other mentionable hotspots: Sticky Rice, H Street Country Club, The Red & The Black & Napa 1015
• The H Street-Benning Road streetcar will be a reality as soon as the end of 2012. It will be a streetcar line from 1st Street, NE along H Street and Benning Road to Oklahoma Avenue, including 6 streetcar vehicles and a maintenance facility. The line would go under the H Street "Hopscotch Bridge" north of Union Station, where there is an old ground-level passageway. 

So, what are you waiting for? Come visit H Street - but let me warn you: It has a great scene, neighborhood vibe & the prices are still ‘affordable' for single family homes & for new construction condos. If you are interested in seeing some of the options that exist, don't hesitate to call Rachel Valentino, DC's "Best Real Estate Agent" as voted by the Washington City Paper for a no-pressure consultation.  Rachel is on top of DC's real estate scene and active in all avenues of the market - including private residences, new construction, luxury market and the condo and co-op community. 

P.S. On September 18, H Street is having its annual festival.  This will be a great time to sample what H Street has to offer. 

When you are preparing to sell your DC home, some of the top staging tips include improving the curb appeal of your property. Plant some colorful flowers, the experts say, or at least put out a few pots of plants or flowers. This approach may save the day for a property that is basically well-groomed, but it begs the question of how to best show off a yard.  

It comes down to a basic question: Should you "plant" or should you "landscape"? Planting implies a certain amount of impulsiveness; landscaping requires planning.  

A landscape is a planned artistic design that considers the size and shape of your yard and lifestyle. You start with a concept (rustic, formal, or Japanese, for example) and outline the large areas as if you were sketching the basic design of a house. Include any plantings or structures that you intend to keep in the new design. If you want terraces or decorative pools, these should be the first new items added to the design.

Plan for new trees and shrubs in appropriate places that will not impede how you plan to use the yard.  Finish up with the plans for lawns, flower beds and vegetable gardens. Then fill in the all-important details: terrace planters, birdhouses and baths, seating, whimsical touches, and outdoor lighting (in the ground and under the eaves).  

The words "landscape design" can start the mental cash register ringing, but planning can be simple. A good plan will be long term, so even if you are moving into your first home and have little to spend outside, you can add plantings in increments. Most people love nice yards, but not all homeowners enjoy yard work or have the time or money to maintain it. Landscaping should be a manageable part of your life. The plan need not be oppressive.  

Ideally, plants and shrubs will be selected for their size, height, zone, and growth season. The idea is to have taller plants in the back and have a variety of species that bloom at different times in the growing season so that your home always looks nice.  

Most people landscape their homes for their own enjoyment. Beautiful front yard landscaping is attractive to both you and visitors. Flowers and plants can provide all season color and interest. If you plan right, you can be as whimsical and creative as you please without creating havoc. If you love climbing roses, great. They can be added to your yard as part of your design - not because the garden center was selling them out or you fell in love with them when you were shopping.  

Aside from improving the aesthetics of your home, landscaping adds value. Money Magazine determined that landscaping offers an excellent return on investment and ranks this type of home improvement spending highly in a study done by the American Society of Landscape Architects. Sellers can recover 100% to 200% of landscaping costs. The Society of Real Estate Appraisers also feels a landscaped home adds value, 99% agree that it actually causes homes to sell faster.  

Some people feel that simply planting beautiful flowers, trees, and gardens adds just as much value as professional landscaping--and it can if done right. Trees make a home more comfortable with shade, break the cold winds to lower heating costs, and provide food for wildlife. However, misplaced trees or ones that have sprouted up too close to the house can be viewed as trouble by the next buyer. As for gardens and flowers - those too can increase curb appeal and attract more potential buyers to your home when you are ready to sell - but unruly, mismatched, overgrown plantings are a turnoff. Regardless of your budget, planning is key.  Landscape, don't just plant!  

If you're new to the area or thinking about "planting" yourself here, call Rachel Valentino, DC's "Best Real Estate Agent", as voted by Washington City Paper, for a no-pressure consultation. Rachel is on top of DC's real estate scene and active in all avenues of the market - including private residences, new construction, the luxury market, and the condo and co-op community.

Nestled just North-West of Georgetown and West of Observatory Circle is a quaint neighborhood called Glover Park. Home to the US Navy Observatory, the Vice-Presidential Mansion, and several embassies, Glover Park is a tight-knit residential community and a "destination" for those in search of vibrant nightlife options. Over the years, the neighborhood has continued to attract new residents - even though they may not know how to pronounce the name. Named after a 19th century philanthropist Charles Glover (which rhymes with "cover,") a strong contingent of residents and outsiders say it to rhyme with "clover."

Regardless of the name debate, a couple of years ago, the neighborhood's popularity spread like wildfire and quickly became home to many young professionals. Many of these new residents (also known as "DINK's"- double-income-no-kids) were in search of some good places to blow off steam and a wide variety of trendy eateries as well. Catering to this need were various new and hip restaurants and nightclubs, many of which featured shuffleboard and pool tables to break up the monotony and keep things interesting.

However, Glover Park has always been known to cater to residents of all ages. The popularity of Glover Park really stems from the surrounding parks, which are so appealing to many residents. The community has a very green, suburban feel - with smaller residential streets and a number of shady trees. Many residents enjoy that this community is surprisingly quiet, especially considering its close proximity to the rest of the city. There is Farmer's Market and a Whole Foods in town, plus a hardware store that is a member of "A Few Cool Hardware Stores" co-operative that offers residents nearby options for home repair supplies.


Housing in Glover Park is a mix of apartment buildings and porch-front row houses built in the 1930s, and housing is actually very affordable. The neighborhood's elementary school, Benjamin Stoddert Elementary, is one of the most highly-rated schools in the District; its athletic field is home to the Glover Park Co-ed Softball League, and DC Stoddert Soccer. Even though Glover Park does not have a Metro station, several bus routes run through the area and provide access to Georgetown, DuPont and downtown, as well as several subway stations.

There are lots of good reasons you should consider moving to Glover Park:

• It's fun. There are many restaurants and shops within walking distance. Need more shopping or food options? Georgetown is only a short distance away. (See our blog Restaurant Week, Part II: Eating Your Way through DC Neighborhoods  to get the "flavor" of the area.)
• It's convenient - just minutes from National Airport, subway, and train stations.
• It's beautiful. Situated along Glover-Archibald Park, it has its own Public Garden
• It's historic. You are within walking distance of Georgetown University, and many of the Foreign Embassies.
• It's timely. Every morning and evening, the naval observatory has the sounding of colors in synchronization with the national Master Clock.
• It has many housing choices, which include row houses, condos, and apartments.

No matter how you say it, you can call Glover Park "home." If you're ready to make the move to this wonderfully quaint neighborhood, call Rachel Valentino, DC's "Best Real Estate Agent", as voted by Washington City Paper, for a no-pressure consultation. Rachel is on top of DC's real estate scene and active in all avenues of the market - including private residences, new construction, the luxury market, and the condo and co-op community.

In our last article, we suggested that you Ditch Your Grocery List as you satiate your palate and explore some of the more than 200 restaurants participating in Washington DC's Restaurant Week August 16-22^nd. Eating your way through DC neighborhoods is a fun way to explore DC and try some great new restaurants. 

Here are few interesting places to explore: 

A nice starting point is Glover Park, a neighborhood in Northwest Washington, DC just steps away from Georgetown and cradled by the serene forested parklands of Glover-Archbold Park and Whitehaven Park. Home to embassies and a closely knit body of residents, Glover Park also features Guy Mason Park nearby, just south of Calvert Street. Hungry? Try Rockland's (BBQ), Heritage India and Blue Ridge Restaurant. If you like BLT's you might be glad to know that the ones the Blue Ridge serves up come with Fried Green Tomatoes - can you say "yum"? 

Then there's Georgetown. Take a tour of Georgetown University located just west of Wisconsin Avenue. Founded in 1789 on 106 beautiful acres, Georgetown University is one of the country's oldest universities. Centered on Wisconsin and M Streets, this charming historic neighborhood was once a thriving colonial port. Dumbarton House, Tudor Place, the C&O Canal, and Old Stone House represent the rich history of this unique community. These days, however, it's widely known for its specialty stores, nightclubs, and intriguing restaurants. The Melting Pot, 1789 Restaurant and Morton's, The Steakhouse are just a few of my personal favorites that are definitely worth checking out during restaurant week. 

If you are ready for a change in scenery, just south of the National Mall is a neighborhood that's home to the Tony Award-winning Arena Stage, Benjamin Banneker Circle and Fountain, the Titanic Memorial and L'Enfant Plaza. The scenic waterfront area features a shimmering array of piers, sailboats, yachts, fishing boats, seafood markets, and of course, restaurants. A few in this neighborhood that may merit your "taste-testing" skills during Restaurant Week include McCormick & Schmick's Seafood Restaurant, Zola, and Oyamel. 

Regardless of where you decide to visit or dine during Restaurant Week, you won't be disappointed with your selections! You might fall in love with a few restaurants and with some neighborhoods.  I'm planning on checking out a few myself and will be sure to let you know my thoughts. Stay tuned! 

As you eat your way through DC neighborhoods, you might finds somewhere you want to live. If you are new to the area or thinking about moving here, call Rachel Valentino, DC's "Best Real Estate Agent", as voted by Washington City Paper, for a no-pressure consultation. Rachel is on top of DC's real estate scene and active in all avenues of the market - including private residences, new construction, the luxury market, and the condo and co-op community.

Have you been salivating for some exciting new restaurants, but tend to stick to your old favorites? If so, ditch that grocery list during Washington DC's Restaurant Week and head for the city! Destination DC and the Restaurant Association Metropolitan Washington are proudly presenting the 16th bi-annual Washington, DC Restaurant Week from August 16-22nd. You can try some interesting food at neighborhood restaurants around the area and, in the process, add some new favorites to your list. 

Restaurant Week occurs twice a year during the winter and summer - during the slower seasons. During these weeks, many of D.C.'s finest restaurants are offering awe-inspiring, multi-course meals prepared especially for this gourmet event, at drastically reduced prices. Lunch is just $20.10 for a three-course meal, while dinner is $30.10. This price enables you to get hooked on a pricey Ruth's Chris steak in Fairfax, Tysons, or one of two DC locations at a bargain price. 

Even in our challenged economy, the list of restaurants has grown again. This August, 30 more restaurants are participating, bringing the total number to just over 200. This means you'll have more places to take your palate to visit. Since choosing restaurants to visit can be a difficult decision - you're probably wondering where you're going to get the most bang for your buck. 

So here's a plan. Washington is a city of neighborhoods and cultures. Restaurant Week offers a great opportunity to try the ethnic restaurants tucked away in the various neighborhoods of DC. Even if you are a "steak and potatoes" type of diner, you can find a place that pleases your palate in a new location. You can mesh your food quest with finding new neighborhoods. I'm betting that if you eat at a place once and love it, the next time you'll be back to see what else is in the neighborhood. 

In our next blog, we'll go into more detail about some interesting neighborhood spots you might find, but for now, consider this. Plan your outing with a meal in mind. Suppose you are bound for a sporting event, festival, or concert in Penn Quarter and plan to start or finish the day with a meal at a new resturant. You'll have dozens of choices but here are a few alternatives: 

Hungry for seafood?  Try Legal Seafood in 7^th or go beyond the pasta and sample D'Acqua at 801 Pennsylvania for Italian seafood.

Hungry for Continental?  Go Spanish at La Tasca or Jaleo on 7^th.  Go French at Bistro d"OC on 10^th or Ova on 7^th for French with an Asian flair. Or sample the world at IndeBlue on G St. NW.

Hungry for Mexican or Latin? Rosa Mexicano at 7^th at F, Café Atlantico on 8^th, or Ovamel on 7^th should fill the bill.

Websites such as DC Foodies.com offer reviews of many places you might want to try, while many places make their Restaurant Week menu online to help you plan your culinary destination. Additionally, here are some brief pointers to use as a guide when choosing restaurants:

• Avoid "special" menus unless you know exactly what the restaurant is offering (and it actually sounds interesting to you). Otherwise, go for restaurants offering most - or ideally all - of their normal menu for the best deals.
• Confirm with the restaurant when making a reservation that they are in fact participating in D.C. Restaurant Week.
• When choosing a restaurant, consider whether or not they always have a deal similar to the Restaurant Week offer.
• Some restaurants participate in DC Restaurant Week for extended periods - sometimes as long as the entire month! You might consider booking reservations at these restaurants outside of the Restaurant Week period.

Here's something else to keep in mind - although Restaurant Week occurs during the slow restaurant season, due to reduced prices, participating restaurants are extremely busy and tend to get very crowded, very quickly. To avoid disappointment or a wait, you can make online reservations through OpenTable.com, where your reservations are FREE and confirmed instantly 24 hours a day. No matter where you choose to dine, chances are that if you visit any one of them during this week, you won't be sorry!  

If you're new to the area or thinking about moving here, one of the first calls you should make for a no-pressure consultation is to Rachel Valentino, DC's "Best Real Estate Agent" as voted by Washington City Paper. Rachel is on top of DC's real estate scene and active in all avenues of the market - including private residences, new construction, luxury markets and the condo and co-op community.

A couple weeks ago, the government turned the First Time Home Buyer Tax Credit into a new and improved credit for first timers and repeat buyers alike. The way the new law was crafted is especially helpful to buyers in the DC area.

Now first time buyers can qualify for up to $8,000 off the price of a home, while repeat  buyer who own and resided in a home for at least five of the last eight years can qualify for $6,500. What is especially applicable to the DC area where salaries are higher is that the income levels have been raised to $125,000 for single taxpayers and $225,000 for married couples, with a phase out of the credit if your income is up to $20,000 higher. (The higher income limits provision takes effect November 6, 2009.)

The credit, previously on life support till November 30, 2009, now runs through April 30, 2010. You need a signed contract by this date, but you have until June 30 to close. This is particularly beneficial if you are buying a newly built home or even if you want to time your move to when your kids get out of school. For the first time credit, the new dates apply to anyone, even if you had aimed for the November date with a home purchase that is underway but will miss it due to a hold up with the  lender or the appraisal.  However, if you are applying for the repeat buyer credit, the deal only applies to homes closed on November 6 or later; this credit is not retroactive. 

Since homes in the District average nearly $500,000, the credit assures that both groups of homebuyers should have an ample supply of homes.   The effect of the previous credit was to decrease the inventory of lower priced homes homes that appeal to first time buyers to just over five month worth.  Now, sellers can put their homes on the market with more confidence that they will sell quickly so the seller can buy another home, often at a higher price point.  The expected effect is that first time buyers will have more homes to choose from while stimulating  the housing market at most levels.  The credit does cut off at $800,000: previously, there was no price limit. (The thinking here is that people who buy homes in this price range probably exceed the income limits.)

Members of the military serving on extended official duty away from home for more than 90 days have an extra year to qualify for the credit and are not subject to the repayment clause if they have to move in less than three years.  These terms apply to all members of the uniformed services of the U.S military, members of the Foreign Service of the U.S., or employees of the intelligence community, so are big boost to DC's military community.

While the new credit does offer new opportunities to DC home buyers to get the home they want with some help from the government, homes at lower price points are expected to continue to move swiftly.  Lenders expect to be busy, so mortgage processing times may be lengthy.  The time to get the home buying process started is now! Don't put it off till after the holidays.  Call Rachel Valentino today to discuss current residential options. Rachel Valentino is a top specialist in the D.C. area no matter what your needs are. You can go to Atlantic Coast Connection website to look for that perfect older home in one of DC's many charming historic areas, a beautiful condo convenient to work, or a more suburban place in northern Virginia or Maryland.