All Blog Entries by Nate Ward

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…

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…

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…

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…

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…

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!

Are you in the market to buy a home in Washington, DC? You may have heard of some of the many programs, lending options, and tax benefits that exist in the market today. To name a few: DC Opens Doors, Loan Programs for Teachers, and the Down Payment Assistance Program. You may have even heard of first-time home buyer tax benefits in the past, but they have not been renewed or implemented for years.

As recently as 2011, there was a DC first-time home buyer tax credit in place that reduced the buyer's recordation tax by 50 percent. This credit saved many first-time home buyers thousands of dollars. There may be good news on the horizon for first-time buyers in DC. On October 6th, a few DC council members proposed a new first-time home buyer tax…

I was walking to a listing this afternoon on Capitol Hill when I crossed paths with an unusual creature! I had to look twice, and was surprised to confirm that an albino squirrel was hopping along in the garden next to me.The squirrel perched in a tree long enough for me to snap a photo. I have to say that albino squirrels don't add much to real estate values, but they sure are cool! If you're looking to make a purchase on Capitol Hill, here is one more reason the neighborhood is really unique!

The Federal Housing Administration Announced today that it will reduce annual premiums by 500 basis points (half a percent). This means real savings for buyers using an FHA loan to finance their home. On a $500k home purchase using an FHA loan, the drop in mortgage insurance rates work out to about $2412.50/year in insurance savings. That's over $300/month! This is great news for first time buyers in particular. The FHA loan is a great program for any buyer with less than perfect credit or a high debt-to-income ratio.  Find more information for buyers, including a list of VA approved buildings, or contact us directly through the website.

We made some significant changes recently and wanted to make sure that you were the first to know! The biggest news is that Rock Creek Realty is now Capital Park Realty. In August we changed the name of the brokerage as part of our plans to provide the best real estate services in the area. Along with the name change, we also updated our website and added a number of mobile-friendly features. Finally, the format of the monthly newsletter has been modified to provide you with the most interesting and up to date information about the DC area real estate market. 

Neighborhood Spotlight - Petworth

Until recently Petworth was considered too far out for buyers looking for a walkable lifestyle. The “walkability” of Petworth has improved substantial in the…