Opportunity Still Knocks for New Homebuyers in Washington, D.C.

Unless you are one of the special classes that may still be able to take advantage of the tax credit (special rules apply to members of the military, the foreign service and the intelligence community), you may be pretty bummed. Like many potential clients I come into contact with, you may have been thinking about buying a new home in the metro D.C. area and now find yourself wondering if it's too late or that you "missed the boat" on the tax credit. Are you one of the millions thinking, "The banks aren't making it easy - I missed the Federal Homebuyers' Tax Credit, can I really still afford to buy a new home in D.C.?" Never fear, opportunity still knocks for new homebuyers in Washington, D.C.

Let's be honest -- the $8,000 first-time homebuyer tax credit was very nice (while it lasted). That said, there's no reason to fret about missing it. If you buy within the District's lines, there is still a $5,000 credit that has been extremely under-publicized. In addition to the $5K credit, D.C. buyers have access to some of the most innovative home-buying programs, bonds and grants available in the entire country.

One thing has remained steady throughout this unpredictable economy - buying a home STILL ranks as the biggest and most important investment one will make. It also remains (by far) the best long-term investment the average American will ever make.

Here in D.C. there are numerous programs all working hard to make sure the homeownership dream stays alive and remains attainable in the city. Programs like the Department of Housing and Community Development are hard at work in D.C. providing a number of opportunities for low-to-moderate income residents seeking to become first-time homeowners in the District.

Another good resource to find available help for funding a new home is The Official D.C. Homebuyers Guide which outlines the various local programs available with descriptions and eligibility requirements.

If your dream is to own your own home, you should believe in your dream and work with a top real estate expert to make it come true. Don't get discouraged or be scared off by someone telling you how much money you lost by missing the tax credit. It's still a great time to buy a home!!

RACHEL VALENTINO -- The Atlantic Coast Connection

www.rachelvalentino.com · (c) 202.270.6972 · (f) 202.290.1204

Long & Foster Real Estate, Inc. · Friendship Heights office: 202-364-5200

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