President Obama is expected to sign the revised home buyer credit some time tomorrow. And, at the risk of looking a gift horse in the mouth, I'm not sure how I really feel about the whole thing.
With the increased income caps of $125,000 ($225,000 for married couples), more people in the DC area will be able to take advantage of it. But think about it a minute. Is the idea to help first time buyers? Or is it to help sellers? And who are the sellers? A lot of them are banks selling foreclosed properties.
Um. Is this one more bank subsidy?
The subsidy is providing an incentive for buyers to go into the market. With more buyers in the market, home prices are increasing in some areas, and here in Washington, we are starting to see multiple offers in the double digits for well-priced homes. So the buyer's tax credit may be offset by higher home prices, at least at the lower end of the price spectrum.
I have to keep in mind that the lower end of our price range in Upper Northwest DC is upper brackets in other parts of the area. Many neighborhoods east of Rock Creek Park and in other quadrants will benefit. And the credit will likely benefit condo sellers.
While this isn't a bad thing for sellers and the buyers who will get the tax credit, remember that a tax credit is $8,000 per transaction being subtracted from the plus side of the
national budget, which is already bursting at the seams.
In the meantime, I will try to do my part to make hay while the credit is in effect. Hopefully, the credit will benefit Realtors® around the country, and we will pay more in income taxes, unless of course, we make less than the income cap and buy a place.
This mural is on the side of my favorite bookstore, Politics and Prose on Connecticut Avenue. They have a large collection of both fiction and non-fiction, as well as great historical stuff about Washington, DC's rich history.
© 2009 Patricia Kennedy. Unless otherwise noted, the content, both written and in pictures, is the property of Patricia Kennedy . If you would like to use this image, please email me (housepat@mac.com) with your request. I'll almost certianly say yes, and ask only that you provide a link back to my original content as well as an acknowledgment. The same thing applies to any other material you see posted here on Active Rain or on any of my other blogs.
I first freaked out when I found out that Willie the Labradoodle's premium dog food was made by the same company in China whose canned pet food was tainted and killing family pets. Then A couple of weeks ago, Katerina Gasset wrote a post about Chinese drywall that got me to thinking. Why do we buy their stuff? Well, for one thing, it's pretty hard to avoid, whether you're shopping in Target, Whole Foods or Bloomingdales.
So this year, I am looking for shopping venues where I can find Christmas gifts that were made, well, not in China.
I'm starting off at my friend, Annie Groer's, holiday sale. She is clearing out a bunch of stuff. And a lot of it is pretty amazing.
Need some high quality designer costume jewelry? This is a great place to start. I walked out with some Chanel earrings on my lobes. But wait! This is supposed to be Christmas shopping for the people I love - not accumulating more stuff for me!
And if you're into poodles, there are some of those. But no Labradoodles. Oh well!
If you are in the market for pins or earrings with this little beast, there is a lot to choose from.
If you're shopping for your guy, there are some great cuff links,at least if he has any shirts that need cuff links.
Moving on from jewelry -
There are also fashion items that might fit someone smaller than I am. Especially in the feet department.
And for that person who has everything? The item to the left is probably not something they already own.
Nor this highly sophisticated collector's item - a set of rare vases!
How about some JFK memorabilia for your favorite political junkie?
Now, I am just scratching the surface here. Items include an alligator, mink jacket, some amazing articles of clothing, and much more.
To view these items, you need an appointment. Please email me at housepat@mac.com, and I will help you set one up. Now I'm off to check out a cute place in Georgetown! More later.
On my first date with my sweetie, he suggested that we go out to dinner somewhere. I immediately thought of Yanni's Greek Taverna in Cleveland Park. It's that kind of a place.
OK, Yanni's isn't really a dive. It's a no-frills Greek restaurant with tasty food, great Greek wine (at least the white wine) and an owner who looks a bit like a Greek Gerard Depardieu.
And the food is fun.
They have all the usual appetizers, hummus, tzatziki, taramosalata, grape leaves, or just get the sampler.
The Greek salad is huge, and my favorite, the Taverna salad (chopped lettuce with lots of fresh dill, feta cheese and dressed with tzatziki) is also big enough to share.
My favorite entrees are the charbroiled squid or octopus, and you're not into eating sea creatures, they have all of the standards as well.
In warm weather, their outdoor cafe is a place where you are sure to see someone you know, either at the next table or walking down Connecticut Avenue.
Now, the service is a little bit on the flaky side. A couple of the waiters are known to be occasionally grumpy - no one is going to fawn all over you. But they do get the food to the table in a reasonable amount of time, and they'll get the order right. And when it does arrive, I've found it to taste quite wonderful.
And that's the most important thing, after all.
There will be a neighborhood Halloween party for Crestwood children of all ages this afternoon at "The Point", located at 18th and Shepherd Streets NW.
It starts at 3 and ends at 4:30.
There will be treats, and contributions of anything with sugar (well, not coffee) from grown neighbors are welcomed.
It could get scary as our little goblins and gouls collect their first candy of the day and check out the woods, that I'm sure will be appropriately decorated for the festivities! So grab your costume and, if possible, find a child to bring with you.
It should be fun!
Pat Kennedy, author of "The Irreverent Guide to Real Estate", has been selling homes in the Washington, DC area for over 25 years. She's licensed in DC, Maryland & Virginia
Washington, DC is the seat of government for the United States, and most visitors see the White House, the Supreme Court and the Capitol. But in these days with heightened security, it's usually just the outsides of these buildings from a tour bus!
They may also see a lot of the monuments, those to Washington, Lincoln, and Jefferson.
And they often miss my Washington and that of the half-million people who make our nation's capital their homes.
Some of us work for the government, some for law firms that practice before various federal agencies, others are teachers, fire fighters and real estate agents!
Our neighborhoods are full of history! There are houses where presidents slept or died. Sometimes a tour of a newly listed home will include the rooms that were used to hide escaping slaves along the Underground Railroad.
Like visitors to Washington, the locals visit the fabulous museums and galleries. We also know where to find the work of talented local artists.
Visitors often enjoy productions at the National Theater and Kennedy Center. We also support local groups, including Wooley Mammoth, Arena Stage, The Studio Theater, and other theaters that have made Washington second only to New York as a provider of paying jobs to stage actors!
And the by-product of any serious unrest anywhere in the world is often a group of immigrants who come to open fabulous restaurants serving their local cuisine!
On the Washington, DC "Home Page" for Active Rain, I have begun a series I'm calling My Secret Washington. I've also posted photos and information about our neighborhoods, restaurants, the Zoo, and other things I hope you will find useful.
And, here is Washington, they throw a huge fireworks demonstration on the Mall at the drop of a hat - not just the 4th of July!
With our energetic new mayor, Adrian Fenty, the city is becoming more that a fun place to visit - it's becoming a wonderful place to live!
Whether your thing is a luxury condo overlooking the Potomac River or a house in horse country in Virginia or Maryland, you'll be able to find the perfect place!
In Washington, DC and its close-in suburbs, we have gone from a white-hot real estate market to one that is balanced. It's a great time to buy - there are fewer bidding wars, and you don't have to offer sellers your first-born child to have your offer accepted. And, it's a good time to sell, because while the market has slowed, prices in most neighborhoods have not substantially fallen.
As you head out into some of the suburban markets, prices have softened, and there are some wonderful opportunities for buyers. Not only are bidding wars extremely rare, but the sellers will usually be really glad to see someone interested in their property, and there is a lot of negotiating going on.
People relocating to the nation's capital are often floored by housing prices - yes, I do carry smelling salts in my glove compartment! The prices are balanced out by great employment opportunities and by the fun factor of life in Washington.
Pat Kennedy wrote the book on real estate, The Irreverent Guide to Real Estate.
And she gives a copy to her buyers so they'll know what to expect during the transactions.
Pat gives great advice and makes her points with stories that are often hilarious or occasionally pathetic. And she works to make the process fun - for herself and for her clients.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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