Happy New Year everyone! Another new year for great things. 2011 should be a great year for DC First time home buyers who are looking to buy a Petworth DC House for sale,Anacostia DC house for sale,Congress Heights DC house for sale,Columbia Heights DC house for sale,Deanwood DC house for sale or other Metropolitian Washington DC Areas. The most recent S&P / Case-Shiller home index (released at the end of December 2010) showed that home prices fell in all 20 of the monitored metro areas. But out of all 20 metropolitan areas, the Washington, D.C. real estate market fared the best. In both the monthly and yearly categories, home prices in Washington D.C. were the most stable. Look for more Washington DC first time home buyers to take advantage of programs such as
• DC First-Time Homebuyer Credit - $5,000 federal income tax credit is available to first time home buyers in the District of Columbia.
Learn more: http://otr.cfo.dc.gov/otr/cwp/view,a,1330,q,594156.asp
• DC Employer Assisted Housing Program – This program provides grants and deferred loans up to $11,500 to employees of the District of Columbia government who are first-time home buyers in Washington,DC.
Learn more: http://www.dhcd.dc.gov/dhcd/fr
Learn more: http://otr.cfo.dc.gov/otr/cwp/view,a,1330,q,594156.asp ames.asp?doc=/dhcd/lib/dhcd/in…
• Housing Purchase Assistance Program (HPAP) - HPAP provides interest-free or low-interest loans for down payments, closing costs, or other expenses associated with buying a house, a condominium or a cooperative in the District. Amount of loan is adjusted to reduce the total monthly mortgage payment to 28% of household's monthly gross income. For very low income families, repayment of loans is deferred until house is sold.
Learn more: http://www.gwul.org/programs/housing/hpap
• DC Tax Abatement Program - Eligible homeowners may receive a 5-year tax abatement and be exempt from paying recordation and transfer taxes. The 5-year period for the Lower Income Home Ownership Tax Abatement begins on October 1, after your deed has been recorded and you have previously applied for the abatement.
Learn more: http://otr.cfo.dc.gov/otr/cwp/view,a,1330,q,594233.asp
Please watch this "Washington DC Real Estate Market Report Video for Home Buying and Selling.