You can now tour short sales with your DC-area Redfin agent in Prince William County. If you find that perfect short sale and you want to make an offer, we’ll connect you to a short sale partner agent who specializes in the short sale process.

We know you want the flexibility to tour short sales with your Redfin agent, and to make offers if you find the right home, short sale or not. It’s true that the process of buying a short sale can be a bit of a grind, but we’re hoping that the federal government’s new program to streamline the short sale process will help speed things along.

To tour a short sale property, just click the “Go See This Home” button in the top right corner of the home’s listing details page.

Thanks everyone! We’re looking forward to helping you find that perfect home, whether it’s a short sale, a bank-owned property, or a traditional home purchase.

Redfin is holding a free home selling seminar in Rockville, MD on Tuesday, June 29^th from 7:45 – 9:30 p.m to answer all your questions.  Our Montgomery County team lead Nick Chaconas and DC area market manager Karen Krupsaw will be discussing the issues every home seller should know about, including:

• Preparing your home for showings
• Tips for effective staging
• Pricing your home effectively
• Negotiation strategies
• Working with inspections & understanding contracts
• Fees and paperwork
• Closing the deal

We have a short presentation prepared, but mostly we want to answer your questions and discuss the home selling topics that interest you.

We’ll also have plenty of free food and drinks.  Hope to see you there!

RSVP for our free home selling seminar on June 29^th.

Unlike the state tax credit being offered in California, the DC home buyer tax credit could not be claimed by anyone going after the national tax credit; you had to choose one or the other. Now that the local credit is the only game in town, it’s worth checking out if you’re planning to buy a home.

Here are the details:

Who qualifies for the DC tax credit?

The tax credit is aimed at people buying their first principle residence in the District of Columbia. This means that owning a previous primary residence outside of DC does not hurt your eligibility. If you haven’t owned a primary residence in DC, you qualify for the local tax credit, even if you’ve previously owned homes in other areas.

Also, you qualify as a first-time DC home buyer as long as you haven’t owned a DC home in the one-year period prior to the purchase of your home. The national tax credit had a stricter requirement; it required buyers to have no primary home ownership for three years prior to home purchase.

How much is the DC tax credit worth?

The credit’s value is the lesser of:

• Up to $5,000, if single, married filing jointly, head-of-household, or qualifying widow(er), or $2,500 if married filing separately
• The purchase price of the home

What types of homes qualify for the DC tax credit?

The home must be your primary residence. It can be a single family home, houseboat, housetrailer, cooperative apartment, condominium, or other type of residence.

Are there any income restrictions for the DC tax credit?

Yes, there are income restrictions, based on your modified adjusted gross income (MAGI):

• If your MAGI is $70,000 or less ($110,000 or less if married filing jointly), you qualify for the full $5000 credit.
• If your MAGI is between $70,000 and $90,000 ($110,000 and $130,000 if married filing jointly), you qualify for a partial credit; the more you make, the less credit you receive.
• If your MAGI is over $90,000 ($130,000 if married filing jointly), you do not qualify for the credit.

Are there any other restrictions?

Yes, there are a few other restrictions. You do not qualify for this tax credit if:

• You acquired your home from certain related persons or by gift or inheritance. Related persons include, but are not limited to, your grandparents, parents, spouse, children, and grandchildren.
• You previously claimed this tax credit on a prior home purchase.
• You qualified for the national home buyer tax credit.

How do I claim the DC tax credit?

You must fill out IRS Form 8859 and submit it with your annual tax returns.

We hope that answers most of your questions about the DC home buyer tax credit. But as always, if you have questions or comments, please leave a note below and we’ll do our best to get you the info you need.

-Fernando Ferrufino, with assistance from field agent Stuart Gavan

For those of you who need a home and have managed to secure a loan, here are a few sweet deals on offer. I only looked at houses because condo fees complicate the matter of value/sqft. My picks are all low in terms of $$/sqft compared to the surrounding neighborhood but they also have other attributes that made them stand out.   

Deal#1: Chevy Chase (DC), where average price is $337/sqft

3205 Beech St NW - $729,000 REDUCED - $189/sqft- 4 beds/3 baths split level house. This house is in a very leafy neighborhood close to Rock Creek Park. It originally listed for $879,000 and has been on the markt for 6 months. Sellers are ready to MOVE IT. 

Deal#2: Georgetown, where average price is $647/sqft

3344 Prospect St NW - $1,350,000 REDUCED – $397/sqft – 4 bed/3 bath historic row house on a famous street in the heart of the west village. The house has been renovated and includes an in-law suite. It has only been on the market 15 days, originally at $1,449,000. It looks like the sellers are reading things correctly and don’t want it to sit for months.

Deal#3: Columbia Heights, where average price is $277/sqft

517 Rock Creek Church Rd NW - $595,000 – $189/sqft – 4 bed/2 bath Spanish-style semi-detached house. This is a very pretty, restored home that was built in 1905. It has lots of wood trim, new appliances and a full in-law suite. The sellers say they will look at all offers. It has been on the market for a month.

>Find open houses in NW DC this weekend 
>Find open condos in NW DC this weekend

Related post:
>Don’t Make an Offer Yet

Cheers,
Allison

Photo: Mad African/Pineappler under Creative Commons license

The latest is this federal-style row house at 2128 Wyoming Avenue NW. It has 4 bedrooms, 3.5 baths, and all-important parking. The interior photos looks okay but the decor does not appear updated. It is listed at $2,150,000 and will be open on Sunday, Oct. 12 from 1-4 pm. 

Best of luck to this seller, who is not the only one to put a house on the market in the last two weeks. Interesting timing. I wonder if any Kalorama mortgages will be bought out and renegotiated under the proposal McCain made in the debate on Tuesday night?

Kalorama Fixer-Upper More Likely To Sell

For buyers with less money but high aspirations to live long-term in this beautiful neighborhood, here is a rare and potential major opportunity: one of the last fixer-uppers in Kalorama. It is a 7 bed/3 bath row house at 2158 California Street NW. It looks like it was abandoned once and has been awaiting renovation for some time. The list price is $850,000, which is what you could pay for a large 2-bedroom condo in this neighborhood! My mouth is watering and my imaginary self is snapping it up.   

Related posts:
>Walk this Way: Kalorama

Cheers,
Allison

The fully renovated, 4-bed/4.5 bath Victorian row house that has been for sale there for many weeks was just reduced for a second time, to $995,000.  The original price was $1,149,000.  

 
Hall Place is parallel to Wisconsin Ave NW, just a block from Whole Foods,  a string of good restaurants, Starbucks, a hardware stor and other shopping, CVS, the Guy Mason Recreation Center/Park, and more. In other words, it is a highly convenient place to live even though it is a quiet street with a very residential feel. And that’s just the beginning. Everything green and park-like about Glover Park can be found starting a couple of blocks the other way. For families, Stoddert Elementary School and Hardy Middle School are also within walking distance. 

Another nearby price reduction that stood out today is a 2 bed/2.5 bath condo in the new-ish luxury residence at 2501 Wisconsin Ave NW, #403. You know the building … it is pictured below. It overlooks the intersection of Wisconsin and Calvert, above Guy Mason park and leading you towards the good old Veep’s house on Observatory Circle.  

The price has now been slashed by $200,000 to $1,049,000. Too bad there are not many interior pictures on the listing. I wonder if they would be as breathtaking as the original price plus the $773/mth condo fee?

In the same zip but moving south-east to more expensive Georgetown, I noticed a sweet red brick house that was just reduced, at 1664 32nd Street NW. Now selling for $799,000, it’s a classic 2 bed/1 bath colonial row house with all the charm, style and small spaces that would satisfy a person craving this kind of home. It oozes that “old Georgetown” feeling. The location is great too - meaning not far from bus transportation and walkable amenities. 

More info:
>Reduced prices  in zip 20007 (Berkeley, Burleith, Glover Park, Georgetown, Obs. Circle, etc.)
>Current listings in zip 20007

Related Posts:
>More for your money in Glover Park

Cheers,
Allison

Check out the “recently reduced” property selling for $15,900,000 on Embassy Row. Yes, that’s right, it’s not a typo. The address is 1714 Massachussets Ave NW. You’ll need more than $2 million for each of the six luxuriously appointed bedrooms. But that’s a bargain compared to the original $17 million price tag. I wonder if the furniture is included?! 

Not Quite as High End:  With neighbors like those on ”Mass” Avenue, it doesn’t seem outrageous to spend $1.55 million on an 8 bed/3.5 bath row house at 1926 17th Street NW. This wonderful Victorian was built in 1907 and has been fully renovated, including the brick patio out back. It has been on the market for 22 days and was reduced in price this week from $1.69 million. My guess is that it will not last long.

Closer to the Median:

You can get a 4-bed/2.5 bath colonial row house at 1313 22nd St NW, south of the Circle. The price was reduced last week by over $100,000, to $1,095,000. It has been renovated. It also has 2 parking spots!!!!  

At the Lower End:

There is a tidy 3 bed/1.5 bath federal row house closer to Adams Morgan at 1650 Florida Ave NW for $649,000. It looks cute. It has been on the market for 19 days with no price reductions yet. Open Sunday, Oct. 5, 1-4 pm.

Before you make an offer, learn about price reduction trends in your target neighborhood.

More info:
> All houses for sale in Dupont Circle
> Recent sales in Dupont Circle (condos and houses) 

Cheers,
Allison

Photo: NCinDC under Creative Commons license

Chosen for Style:

- A very nice 2-bed/2 bath condo at 1735 New Hampshire St NW, just reduced to $585,000, from an original of $635,000. Sellers are willing to offer closing help. It is an older building that has been renovated. The unit has high ceilings, hardwood floors, fireplace, clean decor, S/S appliances, shared patio, and more. The lobby and hallways have some grace – not like living in a Ramada Inn. The price puts it at only $488/sqft, which is lower than average (see below.) The condo fee is $387/month. 

Chosen for Space and Light:

- A 2 bed/2 bath condo at 1280 21st St NW, #207,  with a new price tag of $524,900 after only a few days on the market (down from $549,000.) I usually go for the older buildings but the spaciousness and huge windows of this 1967 corner unit would make me think twice. It has 1,200 sqft, putting it at $437/sqft. Ooops – the condo fee is $837/month, so it’s not such a bargain after all. Maybe the roof deck is lined with precious metal.

- Note, there is another, smaller 2 bed/2 bath unit for sale in this building for $475,000. It was reduced in price from the original $550,000 a couple of weeks ago. The condo fee for that one is $699/month. 

By the way …

Median Condo Values Based on Last 6 Months (source: Redfin.com) 

Word of caution: Remember to check the financial situation of any building you are buying into (especially these days!!!)  If your building gets into financial difficulty and needs more capital for maintenance, it is YOU who will pay.  

More info:
> All condos for sale in Dupont Circle
> Dupont Circle Stats & Trends

Related posts:
> Dupont Sells Bloomingdale Swells?
> $50,000 Parking Spot

Cheers,
Allison

Photo by Voteprime, Creative Commons License

Maybe they say it because they never leave their living rooms. Or maybe they are still thinking of the DC of twenty years ago. So, today I am ripping off an idea from WAMU’s Kojo Naamdi show to tell you about a new Web site — www.culturecapital.com. It is great for anyone who is interested in discovering DC and its surroundings (p.s. I also think Kojo is a great resource for learning about all aspects of this city.)

If you come from anywhere other than NY, then you should know that we are very lucky here. There is SO MUCH going on but it is often under the radar and not in your face. We have local, national and international offerings, and plenty of these things are for free. Cultural outings are fun, but they also a great way to discover new places and new faces, right in your home town. You may be suprised at what you find.

The new site is sponsored by the Cultural Alliance of Greater Washington. This is how they describe it: 

“Introduced in June 2008, CultureCapital.com connects people to the heart of the thriving arts and culture community in the Greater Washington, D.C. region. This virtual arts marketplace provides comprehensive information and reliable ticket-purchase options for shows, performances, classes and exhibitions offered by more than 300 regional arts organizations and cultural institutions, making it the region’s richest and most diverse collection of arts and culture activities. CultureCapital.com strives to be inclusive and includes big names and small groups alike, giving users access to all the hot hits and hidden jewels the D.C. region has to offer.”

So, check it out and try something new. Drive through a few unfamiliar neighborhoods on your way. If you’re reading Sweet Digs, then I know you’ll probably get a kick out of that like I do. 

Cheers,
Allison

Photo: Takomabibelot

You can see a full list of recent sales in AU Park, or any other neighborhood, using Redfin’s neighborhood pages. This kind of comparative info is great for both buyers and sellers. Pick your market and track it over several months so that you’re well informed when it comes to laying money on the table.  

4240 Alton Pl NW – 3 bed/2 bath – 1,294 sqft.
Sold for $735,000 on Sept. 8/08.

4615 Ellicott St NW – 4 bed/3 bath - 2,061 sqft.
Sold for $835,000 on Sept 8/08.
 

4401 Windom Pl NW – 3 bed/3 bath – 1,337 sqft.
Sold for $868,999 on Sept 5/08.

4535 47th St NW – 3 bed/3 bath – 1,844 sqft.
Sold for $865,000 on Sept. 3/08.

4922 Albemarle St NW – 3 bed/3 bath – 1,700 sqft.
Sold for $626,000  on Sept. 3/08.

>See all recent sales in AU Park.
>See all listed properties in AU Park/Tenleytown/Friendship.
>ind open houses scheduled in this area.

Related Posts:
No Arsenic in Turtle Park
Suprising Huge Yard (by the way, this sold for $1,099,999, lower than asking price by $50k) 

Cheers,
Allison