The Capital Park Team Blog

Pros and Cons of FHA Loans

The pros and cons of the Federal Housing Administration (FHA) loan.

At times homebuying can get overwhelming, especially when it comes to loans. We’re here to make things easier for you by sharing the pros and cons of FHA loans.

FHA loans are government insured loans from the Federal Housing Administration. This means FHA guarantees your loan but doesn’t actually lend out the money. When you take out loans, they need to be with FHA approved lenders. Some benefits of FHA loans include less down payment required, more forgiving debt to income ratio and less restrictions on bankruptcy and foreclosure.

One of the main advantages of an FHA loan is that a very large down payment is unnecessary. Loans can be as low as 3.5 percent, which is great for…

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Most Expensive Homes Sold | June 2017

A compilation of the most expensive homes sold in June 2017 in key D.C. neighborhoods.

The month of June was a wildly successful month as far as home sales. The most expensive homes sold in some key areas are all unique and different and boasting their own spectacular amenities.

16th Street Heights

In 16th St. Heights, 1626 Nicholson St. NW sold for $850,000. It includes a whopping FIVE bedrooms, three full baths and one half bath. The Colonial style home was built in 1928 and is just steps to Rock Creek Park. The large deck is beautifully serene and the two-car garage is perfect for busy families.

Chevy Chase

Moving on to Chevy Chase, 3718 Ingomar St. NW sold for $1.38 million. The truly gorgeous Dutch Colonial is close to Military Rd. and…

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First-Time Homebuyer Tax Benefit in DC

The District of Columbia Association of REALTORS®(DCAR) announced the First-Time Homebuyer Tax Benefit has been passed and funded by the DC Council. The First-Time Homebuyer Tax Benefit allows first time home buyers in DC to pay a .725% recordation tax on homes no more than $625,000 that earn less that 180% AMI beginning this October.

So what exactly does that mean?

First let’s talk about the recordation tax. Recordation tax is part of various closing costs and based on the purchase price. If the sale price is $399,999 or less than the DC transfer and recordation tax rate is 1.1%. Sales of $400,000 and above are taxed at the rate of 1.45%. For example, if you bought a $250,000 home in DC, the buyer and seller would each pay $2,750 in DC transfer…

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Condominium Warranty Bonds for New Construction

Condominium Warranty Regulations is a program in DC that helps protect buyers of newly constructed condominiums.

Condominium Warranty Regulations, a program launched a few years ago in D.C. aims to protect buyers of newly constructed condominiums. It stays in effect for two years after the settlement date of the first condo in the new building. What happens is 10 percent of the total cost of construction is put aside as a condo warranty bond. The Department of Consumer and Regulatory Affairs (DCRA) and your respective condo association can ask for money from it to aid in structural issues to your unit that may come up.

It is important to remember a couple key pointers, when buying a brand new condo, especially given the amount of real estate that…

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Bill Proposed to DC's TOPA Act

DC Council introduced a bill that will exempt owner-occupied, single family homes from TOPA laws with certain parameters.

The 1980 Tenant Opportunity to Purchase Act (TOPA) was created out of the Rental Housing Conversation and Sale Act. It is designed to restrict owner rights and provide benefits to tenants.  The benefits for tenants include the option to purchase as well as the ability to assign their right to purchase to a third party.

If you are considering buying a property that is tenant occupied or if you are thinking about renting your property out, you need to familiarize yourself with the Washington DC Tenant Opportunity to Purchase Act.  The process can be a challenge to navigate, so it is strongly recommended that you hire an agent or an…

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Best Neighborhoods to Buy in DC 2017

BEST NEIGHBORHOODS TO BUY IN DC 2018

Capitol Riverfront | A walk through the Capitol Riverfront (aka Navy Yard) is an experience straddling Washington DC's future and past simultaneously. As with so many urban ports that have long served as industrial and business centers, the Capitol Riverfront is in the midst of mindset-shifting revitalization. Anchored by Nationals Park, Capitol Riverfront is home to a myriad of eateries such as Cornercopia, Sweetgreen, Bluejacket Brewery, and Takorean. Yards Park is the culmination of the beautiful and thoughtful conversion of a huge stretch of the Anacostia Riverfront, which features elements similar to those found in New York's High Line and Hudson River Park.

Shaw | The recent renaissance of Shaw has only…

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Capital Park Realty to Sponsor DC Metro Games

Capital Park Realty is very excited to be the main sponsor for the second annual CrossFit Metro Games! at CrossFit Petworth on Saturday, September 17 from 9am-5pm. 

Over 60 athletes in the DC Metro Area will be competing in an individual CrossFit competition. Several other fantastic local businesses will have representatives at the games to support their local athletes. The Pitch Tavern will be there serving some of their most tasty treats! Finally, So Others Might Eat (S.O.M.E.) will be collecting gently used shorts, shirts, and shoes of any type to help those in need! Find out more about the competition here. We can't wait to see you a the games!

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2 Bedroom Apartment for Rent in Shepherd Park

7304 Georgia Ave NW Unit #3 is a top floor space in a two-story building in the Takoma Park/Shepherd Park neighborhoods. The 2 bedroom, 1 bathroom unit is available for either residential or office space. It has a kitchen and dining room. The apartment is located in the heart of lots of dining and shopping on Georgia Ave NW. 7304 Georgia Ave NW is just five blocks from the Takoma Metro stop and five blocks from Silver Spring and all it has to offer. There is at least one parking space available in the back of the unit and central air conditioning. This is a great deal that won't last long and is available immediately. The monthly rent for 7304 Georgia Ave NW #4 is $1,600 per month. Please contact John Crisafulli at john@cparkre.com or 202-258-7036 for…

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2 Bedroom Apartment for Rent Near Takoma Metro

7304 Georgia Ave NW Unit #4 is a top floor space in a two-story building in the Takoma Park/Shepherd Park neighborhoods. The 2 bedroom, 1 bathroom unit is available for either residential or office space. It has a kitchen and dining room. The apartment is located in the heart of lots of dining and shopping on Georgia Ave NW. 7304 Georgia Ave NW is just five blocks from the Takoma Metro stop and five blocks from Silver Spring and all it has to offer. There is at least one parking space available in the back of the unit and central air conditioning. This is a great deal that won't last long and is available immediately. Unit #3 will be available soon as well. The monthly rent for 7304 Georgia Ave NW #4 is $1,600 per month. Please contact John Crisafulli at…

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Rare SW Waterfront Condo Hits The Market

800 4th St. SW #S-815 is a beautiful studio condo with an open floor plan and nine-foot ceilings. It is on the top floor of Potomac Place Tower with a sliding glass door balcony and a great view of U.S. Capitol building and Nationals Park. This unit has a recently remodeled kitchen and bathroom, plus new hardwood floors and an AC unit. It comes with extra storage space in the building, as well as a pool, fitness center, and 24-hour concierge. 800 4th St. SW is in the heart of the Southwest Waterfront neighborhood and is one block from the Waterfront Metro, close to the Wharf development, and soon-to-be-built soccer stadium. You can walk to Safeway, CVS, Starbucks, Nationals Park, the Capitol, and much more soon! 800 4th St. SW #S-815 is listed at…

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