The Silver Line - 50 years in the making - is now becoming a reality for the Washington DC area. Finally a rail system that can provide an efficient and speedy means of public transportation not only to the region's largest airport will also connect the IT heart of Northern VA to the DC metro area. Ultimately, the Dulles Corridor Metrorail Project will provide high-quality, high-capacity rail service in the Dulles Corridor - a one-seat ride from stops all along the corridor to downtown Washington, DC to points as far as Route 772 in Virginia.
Officially called the Dulles Corridor Extension or the Dulles Corridor Metrorail Project, the Silver Line, informally dubbed the Silver Line after its color on planning maps, is now officially under construction. The completed project will include 11 new stations and will share some existing stations with the Orange Line, and Blue Line of the Metro as it extends from Stadium-Armory to Washington, D.C. Route 772 in Loudoun County, Virginia. The project will be built in two phases.
Phase 1 will run from East Falls Church to Wiehle Avenue on the eastern edge of Reston. It will include four stations in Tysons Corner-Tysons east, Tysons Central 123, Tysons Central 7 and Tysons West. Construction began in March of 2009 will be completed in 2013.
Phase 2 will run from Wiehle Avenue to Ashburn in eastern Loudoun County. A construction date has not been set for the extension that will serve Reston Town Center, Herndon, Dulles Airport, Route 606 and Ashburn but the project is expected to be complete in 2016..
Currently, Tysons Corner is the Commonwealth's largest employment center. With Dulles Corridor's employment expected to increase by 47-63% over the next 20 years, this metrorail extension will be enormously beneficial to the entire region. What a great development for the many commuters along its route who have been waiting for a way to break free of the daily traffic jams they've been dealing with in recent years.
From Ashburn Village, commuters can walk to the Ryan Road Station. For those in Leesburg, a quick drive to the station will make their daily commute much faster and easier. By the end of Phase I scheduled to be completed by 2013, there will be a total of 5 new stations. Four will be in Tysons Corner and the fifth one will be at Wiehle Ave on the eastern edge of Reston. You can learn more about the details of what is being done by clicking here.
In addition to the benefits for those commuters who have been part of the sometimes dreadful traffic jams there is another major benefit those living in the Suburbs along the route. The most obvious is the decrease in both vehicle emissions and greenhouse gases. This is expected to make these already desirable suburban areas even more incising for those looking for a new home in the Washington DC suburbs.
Imagine living in such a vibrant area where commuting to the hottest jobs in the country will be so easy. These developing urban areas have so much to offer residents with a vast array of "top of the line" shopping and entertainment venues so close and accessible. The planned land use in these areas promotes healthy living with lots of green space, where walking and biking is encouraged. And soon you won't have to depend on automobiles as your main source of transportation allowing you to leave your mark on the future carbon footprint.
Now is a great time to start shopping for your new home, condo or townhouse along this route before everyone else jumps on the bandwagon. The best place to start is by having a Top Notch Realtor on your side looking out for your best interests. Chosen by Washington City Paper as the "Best Real Estate Agent 2009" Rachel Valentino is just such a Realtor®..
Rachel Valentino is on top of the new construction and all the real estate offerings along the corridor in the Dulles and Reston areas. With such a wide array of urban living choices for the future, she would be happy to help you find the perfect living solution for your needs. Contact her today or visit her site at The Atlantic Coast Connection to start your search by browsing through the featured properties for your dream home.
For more information about the Dulles Rail Project and the Dulles Toll Road, visit www.mwaa.com or http://www.vamegaprojects.com/about-megaprojects/dulles-metrorail/
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.
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
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.
-----------------------------------------------------------------------
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.
-----------------------------------------------------------------------
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!
 |
|
|
Rachel Valentino, professional real estate agent in the Washington DC Metro, MD, & VA area, is on top of DC's real estate scene.She knows the area condo, coop, & single family housing market.
Accommodating, Creative, Charismatic - that's what clients want in a real estate agent.
Buying or selling real estate is an emotionally charged time. The variables in the local market are numerous. The end result is unknown. This is a time when an agent with solid skills, who operates swiftly, and who is 100% determined to achieve client goals becomes a necessity.
Rachel Valentino, professional real estate agent in the Washington, DC metro area, is on top of DC's real estate scene. Active in all avenues of the market, Rachel hooks up clients with the perfect property, whether it is a condo, co-op, single family residence, existing home, or new construction. Licensed in DC, Maryland, and Virginia, Rachel Valentino is the Atlantic Coast Connection.
An entrepreneur at heart, with a robust business sense and keen marketing savvy, Rachel provides clients with unique residential and/or commercial investment opportunities. She does her homework to match up her clients (especially ACC alumnae, her valuable returning clients) with the properties of their dreams and then presents them with the best information to help them make an informed decision. She communicates throughout the process and is always available. Her execution is impeccable down to the last detail as noted in her many testimonials.
The ability to discern what the client wants and then work diligently to find it has made Rachel popular among first-time homebuyers as well as seasoned home buyers. She is quick to point out that homeownership is within the reach of young professionals new to DC and is very helpful in making that happen. Well versed in the area condo market, she can direct clients to existing and newly built units in Washington's historic neighborhoods.
Because Rachel is licensed in Maryland and Virginia, she is equipped to help those who want the peace and beauty of a more suburban setting within a short drive from the Capitol.
Rachel Valentino came to real estate after a whirlwind career as an analyst with Lehman Brothers in New York and with GEICO in Chevy Chase, MD. She further honed her business skills by earning her MBA from American University. Since joining Long & Foster in 2006, she has earned several professional designations including the GRI (Graduate, Real Estate Institute), ESRES (Energy Smart Real Estate Specialist), and SRES (Seniors Real Estate Specialist.) Her diligence has earned her several awards and commendations within the company and the region.
Her other professional designations include:
Click on the links to read all that these satisfied customers had to say about Rachel!
I came to Rachel looking to become a first time home buyer, and although I had attended a home buyer education class I still felt ignorant to the whole home buying process and a little nervous about it. Every step of the way Rachel did a perfect job, so much so that I was left confused by the horror stories I had heard from so many other people when buying a home. I almost couldn't figure out why I didn't have any of these problems, but I know it was because Rachel did an excellent job.
I have been in my townhouse for only two months now, but I know that it is the perfect place for me at this stage in my life, and I have Rachel to thank for that. I know when my life situation changes down the road, and the time comes to move I will be going back to Rachel to buy my next home and sell my current home. Thank you, Rachel.
" ....we could not have bought our condo without Rachel... she was amazingly informative and patient with us... a testament to Rachel's skill at not only listening to her client's needs, but correctly extrapolating the feelings behind what we were saying... Rachel was just a pleasure to be around... Her enthusiasm was contagious and we always looked forward to seeing her and talking to her...without Rachel, we could not have done it."
"Rachel was extremely responsive to all our emails and phone calls, emphatic to the emotional whirlwind we were experiencing... To all first-time home buyers, Rachel makes a stressful, but extremely rewarding experience, a little bit easier to handle."
Kristofer Dodge and Kelly Rain
"From my first contact with Rachel she was extremely professional and very eager to help . . . I had many questions about the whole process and her patience, diligence, knowledge, and timeliness in responding to my questions and requests made my whole home buying process much easier... I have repeatedly recommended Rachel to friends and family who are interested in purchasing a home in the DC area, and will continue to do so. She is excellent at what she does!"
"The only reason that I'm in my home today is due to the dedication, willingness, devotion, eagerness, diligence and perseverance of Ms. Rachel Valentino. She took the time to research and send properties that were in my price range and desirable neighborhoods, listened to my complaints and frustrations, was organized and made every appointment, all the while demonstrating exceptional professionalism.... I was very pleasantly surprised to witness her vast knowledge of the Washington, DC area and her willingness to visit all of my interested properties."
"It was your superb business connections that put me in touch with a mortgage lender who was able to provide information on tax breaks and other first time buyer incentive programs that allowed me to not only buy the property but completely renovate it all while staying well within my budget."
"Rachel Valentino is the consummate professional; from the very start of my home purchasing process to the very end, Rachel was responsive, informative, and continually had my best interests in mind...I would recommend Rachel Valentino to my friends, family, and peers alike. I will certainly utilize her expertise and high energy level in my next sale or purchase and anybody else who does will immediately have a leg up on the competition."
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.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
