Rachel Valentino - Atlantic Coast Connection in DC,VA,& MD

Looking for the perfect historical home in Washington DC? With 46 designated historic districts, this is like going on a treasure hunt in the DC area. Hunting for, caring for, living in, and just enjoying old homes can be a very rewarding experience. The surreal lifestyle offered within the charming historic districts continue to make the older historic homes very attractive and always in demand.

Many think that one has to be rich to own a historic home but that really is not true. Contrary to popular belief, within the DC area, most historic districts are home to average middle class people of modest means. The District of Columbia, has been a forerunner in working with the National Trust for Historic Preservation and along with 37 other states, DC has enacted laws enabling individuals with incentives for owning historic properties that meet specific criteria.

The Historic Preservation move is aimed at keeping the history and urban districts alive. DC continues to be a forerunner in rebuilding communities while preserving historic buildings. Much of the money is directed towards the housing stock in deteriorating neighborhoods. The various federal and state programs are making home ownership easier for those who may need a boost to finance a new home. So now is a perfect time to reap the rewarding benefits of owning and restoring a historical home here in the DC area.

If you are looking to purchase a home with the charm of history, Rachel Valentino wants to make sure that you know about several great historic preservations and rehabilitation programs.

Current Federal, State and Local Programs:

In general, the federal government directs its efforts towards revitalizing the nations cities while providing affordable living, housing and jobs. Currently, the federal tax credits are for the larger income, housing and job producing projects - not for rehabilitating your personal home.

Keep in touch with your Rachel, a top DC area Realtor^® who can let you know if legislation changes offering federal incentives for refurbishing or buying a historic home. There are currently a couple of bills on the floor supporting individual homeowners having access to the monies for restoration.

Here are some tips on locating Federal Grant money for renovating your historic home:

1. You can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide information on grants. Browse through the listings and see if you can find any grant that would support home repairs.

2. There is a grant from US Department of Agriculture called Section 504 that helps very Low-Income individuals receive Housing Repair Loans and Grants. Section 504 assistance helps very- low-income homeowners repair, modernize, or modify their homes. Loans may also be used to make homes more accessible for household members with disabilities.

•Ø Program Details: www.rurdev.usda.gov/ny/504brochure.pdf

Check out the great options available from state and local agencies

There are some great incentives to make your dream renovation come true here in the District of Columbia. Since initiating the Historic Homeowner Grant Program, the DC government has funded over $1.5 million in rehabilitation in our historic districts. There are 12 eligible districts and the agency received over 250 grant applications. The HPO hopes to impact at least another 30 projects in 2010.

Look at the actual results of how this money can be used to recreate the original beauty and richness of these old homes. If you want to see the dramatic changes made possible through this program, you can view before and after photographs of recently completed projects at

HPO Gallery of Homes.

Residential properties located outside of these historic districts may be eligible for the Single Family Residential Rehabilitation Program offered by the Department of Housing and Community Development.

If all else fails, a 203K loan may provide the needed funds.

Can you imagine yourself living in a home with lots of history, unique detailing, and rare craftsmanship? DC property offerings are a wealth of historical properties and historic districts.

So if you really want to make owning a historic home a reality 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. Be a part of the Urban Renaissance by helping preserving the past.

Washington, DC has not only weathered the volatile and stormy economy of the past few years, but is now emerging as a top contender for having the strongest and most resilient economy in the country. Washington, DC is now ranked as the #1 national and #1 international investment market among foreign investors (AFIRE)

Today, it is being said that Washington DC has gone through an "Urban Renaissance", a rebirthing of sorts, transforming Washington, DC into a "world class city" within the global business world. In turn, many are discovering the special appeal of the District's distinctive neighborhoods each with art, local culture and local events reflecting the past and the future.

Residential investors, along with homeowners and potential homeowners, are seeing the opportunities of investing in the city through residential home ownership. There are currently thousands of new housing units under construction within the DC Metro area.

But certainly what stands out when looking at the Urban Renaissance of the DC area is the rebirthing of the old historical districts throughout the metro area. With each neighborhood reflecting its own unique history and local culture - many are currently being restored to the original grandiose statute.

Advantages and government incentives are not only for investors. Average homeowners are also taking advantage of the many government programs created to further stimulate the economy. Here are a couple of current examples and you can always contact Rachel Valentino if you have further questions or want to learn more:

Single-Family Residential Rehabilitation Program Provides low-cost financing for the rehabilitation of 1 - 4 unit residential housing. Provides low-interest amortizing loans for up to 20 years, depending on the financial circumstances of the borrower and the amount of rehab required to correct code deficiencies.

Special monies set-aside for handicapped access and senior living improvements.Who to Contact: Department of Housing and Community Development (DHCD) dhcd.dc.gov

Residential property must be owner-occupied or investor-owned and located in Community Development Area or Enterprise Community.

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Housing Purchase Assistance Program (HPAP) Provides interest-free or low-interest loans for down payments, closing costs, or other expenses associated with buying a house, condominium or cooperative in the District. Amount of loan is adjusted to reduce the total monthly payment to 28% of household's monthly gross income. For very low income family, repayment of loan is deferred until house is sold. This program is temporarily out of money, but additional funding should be available soon.

Who to Contact: Department of Housing and Community Development (DHCD) dhcd.dc.gov

Eligible families must meet income restrictions. Maximum loan amount and income guidelines are subject to change.

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Single-Family Mortgage Revenue Bonds HFA finances below-market rate loans to low- and moderate-income residents using proceeds from the sale of Single Family Mortgage Revenue Bonds.

Who to Contact: DC Housing Finance Agency (HFA) dchfa.org

Application approval through HFA

Become apart of this exciting time of rebirth by exploring all of your available home ownership options and incentives by working with an experienced REALTOR^® who you can trust and has a proven track record. Rachel Valentino is a top specialist in the D.C. area. Contact her today to talk about your current options and available buying incentives. Or check out her Atlantic Coast Connection website to look for your next dream home.

I was recently interviewed by John Wordock of MarketWatch Radio Network regarding the first time homebuyer tax credit. As I mention in the interview, about 90% of my recent business had been as a result of the credit, so I am definitely in favor of an extension. At this point, there is no firm word on an extension, so buyers can't plan on it. Do I tell buyers to snap up any house to take advantage of the credit? No Way! Having the $8,000 is a great gift but the house will be with you for years to come! If buyer have house in mind, this is the time to act.

Here's the full interview, with the high points below.

http://www.marketwatch.com/podcast/Recession%20and%20Recovery

John: What advice do you have for first time homebuyer who want to get in on the tax credit?

Rachel: I'm so glad you asked John... this is such an important topic.

My advice would be that IF a buyer is on the fence with their final home choice, they REALLY need to get their offer in this week. Most individuals are blissfully uninformed when it comes to understanding how long it takes to close a loan in today's market - you know what they think? They can go to closing a week after putting in a bid! It's just not going to happen, trust me!

This is especially true for those who are hoping to do a low downpayment of 3.5% and go the FHA route. With FHA or conventional even, it is quite EASILY a 30-45 day process -- minimum! I foresee November will one of the busiest months in recent national history, lenders & settlement attorneys across the nation are going to be swamped and you can't rely on your lender to work wonders.

Buyers need to understand that if it is their wish to take advantage of this awesome $8000 gift from the federal government, they SHOULD NOT rely on what (at this point) is a very rocky extension from those on Capitol Hill or put themselves in a bind by not allowing reasonable time to close.

In my recent experiences, underwriters are more scrupulous and critical than ever - EVEN for individuals with the best credit scores and income. There's no need to add another layer of complexity by waiting until the last minute. Believe me, buying your first home is stressful enough. If you want to close mid-November and give yourself some breathing room for unexpected surprises (which always happen), you need to be under contract today....no, actually let me re-phrase that, it should have been YESTERDAY! I'll tell you what I tell my clients, the old saying holds true, "To be forewarned is to be forearmed!" Long story short, if you want the $8000 credit, get under contract!

Arlington, VA is home to some of the hottest and most sought after "urban villages" in the entire DC metro area. Young professionals are crazy about the area as it continues to attract more and more young people seeking a hip living area. This urban county covers 26 square miles, directly across the Potomac River from Washington, DC.

This is a Smart Growth area teaming public transportation systems with planned economic development, which has led to booming business districts and quaint residential neighborhoods, each with a small-town feel. There is a strip of 5 major neighborhoods, each with a distinct personality. Two of the most desired of the "urban villages" in this exiting area are Ballston and Clarendon.

Some of the drawing points for the area include:

• In 2002, the area won a national award for Smart Growth Achievement

• In 2005, the area was ranked #1 among "walkable cities in the US" by the American Podiatric Medical Association and currently scores 95% on Walk Score (2009).

• In 2006, CNN Money ranked the areas as the most educated with 37.7% of the residents holding graduated degrees

• In 2008, BusinessWeek ranked it as the safest community to weather a recession.

• Home to Wilson Boulevard-Clarendon Boulevard corridor. In 2008, this street was named one of 10 "Great Streets" in the U.S. by the American Planning Association.

Because of the commitment to transit-oriented development, residents can enjoy the convenient shops, services and transit options. Residents continue to support and participate in both political and economic development of the area. In turn because of the strong commercial tax base, the area residents here pay relatively low taxes.

Ballston, VA

Downtown Ballston is centered around Ballston-MU Metrorail station which is a major transportation hub, connecting Metrobus and ART buses with Metrorail's Orange Line. Here you can't help but feel the "bit-city downtown" atmosphere. Here you'll find taller buildings than the rest of the Arlington area. Among the busy office buildings there are numerous designer coffee shops and delicatessens that cater to the 9-5 crowds.

Just a few blocks away the busy atmosphere tapers off into residential neighborhoods with parks, schools, and single family homes. You'll also find real estate offerings including numerous apartment and condominiums that complement the skyline and offer simple studios to elegant penthouse suites with panoramic views.

Clarendon, VA

Clarendon is located between the Rosslyn area and the Ballston area. The two main road are Wilson Boulevard (one-way westbound) and Clarendon Boulevard (one-way eastbound). This neighborhood offers mid-sized office buildings near the Clarendon Metro station and safe, stable neighborhoods full of single-family homes and tree-lined streets, offering great opportunities to live, work, and play.

Clarendon is known more as the young, vibrant, and eccentric of the Arlington area urban villages. This neighborhood considered is the heart of Arlington's nightlife and dining scene.

It is often cited as an example for smart growth and transit-oriented development , the model for the term "urban village". In addition to the national chain shopping and retail scene, Clarendon is well known for its local businesses which are varied and unique.

With the laid back, safe, walkable living area so close to the Metrorail and the big city amenities, you can see why this area is so desirable. Among the real estate offerings in Clarendon and Ballston, you can find numerous townhouses, luxury apartments, and condominiums in addition to single-family homes from which to chose. Rachel Valentino is a top specialist in the Arlington, VA area. Contact her today or check out her Atlantic Coast Connection website to look for your dream home.

One of America's greatest monuments ,"The Congress House." sits proudly on the crest of the hill overlooking the city of Washington, DC. Nestled in next to the US Capitol grounds, you'll find the charming 19^th century neighborhood of Capitol Hill. It is a district where you'll find diverse residents and an architectural style captivating and enchanting.

One of the oldest historical neighborhoods in the entire DC area, Capital Hill is - remarkably - also one of the most densely populated areas. Roughly 35,000 people live in Capital Hill which spans just short of two miles. Those who live in here are often touted as the true "movers and shakers" of America.

Capitol Hill, of course, is home to some of the nations most famous landmarks: the United States Capitol and the Senate and House office buildings. It's also home to the Supreme Court building, the Library of Congress, the Marine Barracks, the Washington Navy Yard, and Congressional Cemetery.

But, for the most part, it's largely a residential neighborhood composed predominantly of late 19th century press brick rowhouses. Existing side by side and steeped full of history, you'll find 19th century manor houses, Federal townhouses, small frame dwellings, and ornate Italianate bracketed houses.

Today, East Capitol Street runs through the center of this most sought after part of the neighborhood. It's an easy way to spend an afternoon strolling down the brick sidewalks soaking in the diverse architectural style. Each year the Capitol Hill Restoration Society holds a popular house and garden tour. Residents and visitors alike enjoy taking part in this yearly event. Another exciting tidbit of news is that an Art on Call program is underway in this neighborhood. Stay tuned for upcoming details on this creative endeavor.

Pennsylvania Avenue, which runs in another direction, creates the eclectic commercial sector of the neighborhood. It's here you'll find the lively shops, restaurants, and bars. Recently renovated, Eastern Market is an 1873 public market on 7th Street SE, where vendors sell fresh meat and produce in indoor stalls and at outdoor farmers' stands. It is also the site of an outdoor flea market every weekend where locals love to convene. Music, another popular venue can be found on H Street NE where nearby condos are beginning to fill up.

In addition to the diverse areas within Capital Hill, there are many top restaurants found in the nation's capitol located right in the heart of Capitol Hill. This is where on any day you may rub elbows with a Senator or Member of Congress at any one of them. One of the most frequently suggested for spotting politicians is Bistro Bis. It is a cozy contemporary French bistro that is also a favorite of the locals. Another local favorite is the popular The Dubliner Restaurant & Pub. Here you'll find a great selection of beers and authentic fare such as "Irish Beef Stew," shepherds pie, fish and chips, and a variety of daily specials. Live music is offered nightly and attracts a lively crowd.

For those a little more laid back, Capital Hill also provides plenty of green space (National Mall, Capitol Hill Parks, etc.) Although Capital Hill's parks are not considered big, they do provide peaceful green space amidst the urban environment giving residents and visitors a nice place to relax and enjoy the beauty of the outdoors. Folger Park is one of the largest parks in the area. While here, you can take in the city's rich architectural history. Come and enjoy the 1,000 ornamental trees planted in the 1800's and enjoy lunch on one of the unique "fountain benches" fashioned after the 1935 "Drinking Fountain and Bench" plan. Read more about the other 58 parks in Capitol Hill area.

This area is also known for its schools. One of the most sought after schools is what is known as the Capital Hill Cluster. Recently many of the older less advantaged schools were recipients of new libraries thanks to neighborly efforts.

With such diversity, history and beauty, you can see why Capitol Hill real estate is becoming an ever more popular choice for those looking to buy in the Washington, DC area. You can find historical homes as well as newly build condos. Can you imagine living where every day is just a walk to the White House? Then you'll definitely want a real estate pro on your side.

In the complex market of Washington, D.C., you want a REALTOR^® who you can trust, one who knows the area and has a proven track record. Rachel Valentino is a top specialist in the D.C. area no matter what your needs are. Contact her today or check out her Atlantic Coast Connection website to look for your dream home. Put her expertise to work for you.

P.S. - It's not too late to use the $8,000 First Time Homebuyers Tax Credit, but time is running out!