Author Archive
Is the Tax Credit Turning D.C. Into a Seller’s Market?
I’ve spent a lot of time blogging about the first-time homebuyer tax credit recently, and last week, even devoted an entire column to the subject. My feeling is, it’s out there—I might as well inform people how to take advantage. I don’t know if the posts came off sounding too cheerleader-ish. But, in case they did, here’s the flip side of the credit: A lot of people consider it unnecessary, believing the recent drop in home values would have pushed many buyers back out into the market without the extra tax incentive. The credit, essentially, was an extra dollop of whipped cream on top of the cocoa. Lovely. But not necessary.
In Sunday’s Washington Post, professor Joseph Gyourko of University of Pennsylvania’s Wharton School, made another valuable point about the ill effects of the credit in his piece “5 myths about home sweet homeownership.” He argues that the credit is creating competition in areas where the market should still be settling—like here:
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Capitol Hill Bikes Closing, Selling Everything
At a time when many of us recreational, not diehard cyclists are storing away our bikes and helmets, one D.C. bike store is in serious need of attention. DCist circulated the bad news this morning, Capitol Hill Bikes has lost its lease. There are more details on the store’s website:
Everything must go! Save up to 75 % off! Everything is on sale! Come early for best selection. When it’s gone, it’s gone. All sales are final.
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Councilmembers Dig in Heels on Catholic Threat
Council Chair Vincent Gray, and Council Members Mendelson and Evans
It doesn’t look like the Catholic Archdiocese is going to be winning this battle.
Yesterday, the Washington Post reported that the Catholic Archdiocese had issued an ultimatum to the D.C. Council: If you require us to extend same-sex marriage benefits to gay couples, we’ll stop running city-contracted social service programs. These programs include many homeless shelters, in addition to adoption and health care support. (This entire issue is, of course, contingent on the District’s same-sex marriage bill passing, which it is expected to next month.)
In the last two days (day 1, day 2), the Post has gathered a number of reactions from D.C. Councilmembers suggesting they’re not ready to give in and allow city money to be used to discriminate against gay couples.
- Ward 1 Councilmember Jim Graham had originally hoped to reach a compromise with the church, but has since altered his stance after “reviewing same-sex marriage laws in New Hampshire, Connecticut and Vermont,” where the Church has not abandoned social services.
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Groundbreaking for CVS in Petworth
The transformation of the intersection of Georgia Ave. and New Hampshire Ave. is almost complete.
On the northeast corner sits the Petworth Metro Station, opened in 1999. The well-regarded Sweet Mango Cafe is directly south (”I want to bathe in this chicken” is a direct quote from Yelp.) Directly to the west, there are the fancy Park Place apartments, which opened this Spring.
And then just below that, there is, well, a long-empty lot—apparently the former site of a gas station, which closed up in the early 1990s, according to DCmud.
The View From Inside View 14
So View14, the long-awaited apartment building at the corner of 14th St. and Florida Ave., is finally open for leasing. The first move-ins will be occurring before the end of the month, according to developer David Franco of Level 2 Development. There are still construction workers bustling around throughout the building, but Franco insists the units will all be ready by mid December.
“My unit will be the last one under construction,” he says. (And with a terrific, spacious outdoor patio, it seems well worth the wait.)
Pictures below the jump.
Catholic Church Threatens to Withhold Social Services if City Passes Same-Sex Marriage Law
Well, this is really shameful.
For most of the Fall, we’ve been reporting on the latest strains on homeless services around the city: First, it was Central Union Mission struggling to find space for a new shelter; Next, we focused on budgetary concerns crippling shelters around the city.
Well, forget all that. Now, we have a new reason to worry key social services will soon evaporate: The Catholic Archdiocese of Washington claims that it will discontinue contracts with the city if it is forced to extend employee benefits to same-sex married couples if the D.C. Council’s gay marriage bill passes into law.
Letter to the Editor: Treating the Homeless Outside of Shelters
Oh lookie, an old-fashioned, carefully-crafted letter to the editor. Yes, some people still provide their full name when commenting on a news story. Shockingly, I got two this week. Here’s one about treating homeless patients into need of mental health services once they’ve been forced out of the shelter system:
Letter to the Editor
Washington City Paper
Washington, D.C.Re: Beyond the Franklin School Shelter
So far, the lawsuit brought by advocates for the homeless to reverse the District’s decision to close the Franklin School Shelter isn’t faring well. The federal court recently refused to take up the issue until the D.C. Court of Appeals decides whether the D.C. Superior Court ruling in the District’s favor was correct .
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MoCo. Promotes Smart Growth, No-Car-Necessary Development Policy
A few weeks back, I blogged about car-free visions taking over suburbia: reduced parking requirements in Tyson’s Corner; Parking meters that could suddenly be adjusted up to exorbitant rates in Arlington and D.C. to discourage driving in the area. And today, the Washington Post reports on the latest move that smart growth proponents are likely cheering.
Rather than promote construction in less developed areas, the Montgomery County Council just approved a plan that will provide discounts to developers building dense projects near Metro stations “as long as they also construct bike paths and walkways, put shops and other amenities nearby, and use environmentally friendly construction methods.”
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Zoning Commission Gives Thumbs Up to Huge Projects in Brookland and Fort Totten
One view of the Brookland project by Abdo Development
The gentrification wave’s moving up and over to Northeast.
Earlier this week, the Zoning Commission granted preliminary approval to two huge projects that will transform Brookland and Fort Totten, the Washington Post reports. “To receive final approval, the groups behind the projects, the Morris & Gwendolyn Cafritz Foundation and Abdo Development, must submit information to the commission about the community benefits they plan to provide, zoning officials said. Final action is scheduled for Dec. 14,” according to the Post.
I’ve written extensively about both these projects. So if you’re just hearing about them now, here is some more information:
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Second Chance for First-Time Buyers, Part 2
More tips for homebuyers interested in using the government’s $8,000 tax credit, continued from this earlier post.
• It’s not just for first-timers anymore. The tax credit needs a new name to do it justice. The National Association of Realtors is calling the newly passed version the “Extended Home Buyer Tax Credit 2009/2010.” But neither the media nor the IRS has figured out a replacement for the old terminology. Whatever they settle on, the credit now applies not just to first-time homebuyers but to a narrow group of existing homeowners who’ve lived in their current houses for five consecutive years (within the last eight). If you fall into this category and are looking for a replacement principal residence, a credit of up to $6,500 is available (up to $3,250 for a married individual filing separately).
