E2
A time of ‘opportunity and hope’ in Rosedale
rosedale from E1
er and Langston Golf Course, not to mention using amenities such as the community garden, of which he unofficially serves as overseer. That’s not to say the neighbor- hood doesn’t have its drawbacks. Coomber said that though he hasn’t experienced any violent crime, “there have been [shell] casings found in the past several months.” Longtime residents say it’s a
vast improvement from the state of the neighborhood a decade ago. Then, Rosedale was “a notorious drug area,” said Emory Washing- ton, who moved to the neighbor- hood about 10 years ago and whose family has owned property in the neighborhood for decades. “Rosedale is in a period of tran- sition now, but 10 years ago, it was off the hook — drugs, homicides, you name it,” said Washington, 66, who is retired. “But it’s differ- ent now. We have a great relation- ship with [D.C. Police] Chief [Cathy L.] Lanier, and things are changing.” The crime rate and availability of restaurants aren’t the only things improving. Residents say the civic involvement spurred by the rough times has served the neighborhood well as it moves forward. Residents successfully lobbied for a new community cen- ter to be built on the site of the old Rosedale Recreation Center, and many say they hope the center will provide a central meeting place the neighborhood is lack- ing. “We hope to see even more businesses come into the neigh- borhood as a result of the commu- nity center: a bookstore, a bakery, a coffee shop, or any number of other stores that we had at one point but that have disappeared,” said Brit Wyckoff, a writer who gave his age as “older than I ever expected to be,” and who lives in the neighborhood with his daugh- ter. “Now, you see people really schlepping a long distance to get to a supermarket. It would be su- perb to have amenities like that closer by.” Until then, residents say they will continue to relish the positive attributes that have defined the neighborhood all along, including
annual events, such as the free Stone Soul Picnic music festival at nearby RFK Stadium each Au- gust, and historical resources. Many of Rosedale’s brick row- houses date to the late 1800s, Bowens said, and many residents have lived in the neighborhood for decades. “There are all sorts of hidden treasures in the neighborhood that people are just now rediscov- ering,” Bowens says.
Antonio Roberson, owner of
the Langston Bar and Grille, said he shares his patrons’ hopes that his restaurant and other recent Rosedale additions will lead to “other folks opening cafes, bou- tiques and other businesses that will give the neighborhood a new burst of life.”
But Roberson, who opened the
restaurant about a year ago, said he mostly wants people to know about the “hidden treasures” touted by Bowens, such as the neighborhood’s proximity to the National Arboretum and the Ana- costia River.
“I was intimidated when I first bought the space, because of Ro- sedale’s old reputation as being rough around the edges,” said Ro- berson, who lives in Capitol Hill. “But there’s a lot of opportunity and hope in this corridor. It’s a great neighborhood that I hope people will start to look at in a dif- ferent light.”
realestate@washpost.com
$331,000
Market view for
Zip code 20002
Median sales price
Dec. ’09 - Feb. ’10
$13,000 4.1%
year over year
Nearby neighborhoods
Eastern Market, 20003
Median sales price
$611,000
Deanwood, 20019
Median sales price
$187,500
SOURCE:
See more homes at:
washingtonpost.com/realestate
SOURCES: Freddie Mac, Federal Reserve, Federal Housing Finance Agency
$315,000 3-bedroom 1-bath single-family home
$319,500 4-bedroom 3-bath single-family home
ROSEDALE
0
1/2 MILE
VA.
M ST.
LYMAN PL. LANG PL.
L ST.
FFX.
H PL.
H ST. H ST.
BENNETT PL.
G ST.
ARL. CO.
CO. ALEX.
P.G. CO.
R ST.
MONT. CO.
D.C.
KLMNO
HOUSE LAWYER
MD.
Detail
by Harvey S. Jacobs
In this topsy-turvy world of
F ST. E ST.
ISHERWOOD ST.
D ST. C ST.
C ST.
C ST. CONSTITUTION AVE. A ST.
D.C.
E. CAPITOL ST. A ST. INDEPENDENCE AVE.
INDEPENDENCE AVE.
C ST. D ST. E ST.
STADIUM- ARMORY
E ST.
LARIS KARKLIS/THE WASHINGTON POST
BOUNDARIES: 15th Street NE to the west, Oklahoma Avenue to the east, C Street NE to the south and Benning Road to the north. SCHOOLS: Two Rivers Public Charter School, Eastern High School. HOME SALES: In the past 12 months, 90 houses sold for from $47,500 to $699,900, said Betty Gee of Long & Foster. Recently, 33 houses were on the market, priced from $75,000 to $875,000. Sixteen homes were under contract, from $117,400 to $529,000.
WITHIN WALKING DISTANCE:
Stadium-Armory Metro station, Robert F. Kennedy Stadium, National Arboretum.
WITHIN 10 MINUTES BY CAR:
Interstate 395, Capitol Hill, downtown Washington.
Homes for sale nearby
$349,900 2-bedroom 1-bath single-family home
Stadium RFK
S 295
295
D S
Rosedale
B
E. CAPITOL ST.
mortgage financings, refinancings, bank failures, short sales and multiple mortgage assignments, borrowers often overlook the last step in these transactions, which could come back to haunt them. That last step is getting the prior, paid-in-full mortgage released “of record” in the land records office. Many people fail to understand that merely paying off their previous
For borrowers, last step can be a doozy
mortgage is not sufficient. One more step is required to complete the process. Under the laws of most states, including Maryland and Virginia, and of the District, a release must be recorded in the land records office to clear title to the property. Lenders often, but do not
always, send the release to the land records office for recording. Sometimes the lender mails the release back to the settlement lawyer,who is then responsible
REAL ESTATE NOTES
Mortgage rates rise to highest level in months
Mortgage rates climbed to the highest level in almost three months as the Federal Reserve ended a program that helped cut borrowing costs for homebuyers. Rates for 30-year fixed loans rose to 5.08 percent for the week that ended Thursday, from 4.99 percent the week before, mort- gage finance company Freddie Mac said. That’s the highest rate since the first week of January. The average 15-year rate was 4.39 percent, up from 4.34 percent, ac-
cording to Freddie Mac. Five-year Treasury-indexed hy- brid adjustable-rate mortgages averaged 4.1 percent, down from 4.14 percent. One-year Treasury- indexed ARMs were 4.05 percent, down from 4.2 percent. To get the rates, the mortgages required payment of an average 0.6 point, with the exception of the 30-year fixed, which carried an average 0.7 point. A point is 1 percent of the mortgage amount, charged as prepaid interest.
This chart is designed to show trends of some of the more common indexes used to set the rates on adjustable mortgages. Borrowers facing adjustments can use the numbers below to figure their new rate, assuming no caps or other special limitations. Data on 30-year, fixed-rate loans are included for reference.
Adjustable-rate-mortgage indexes
%
0 1 2 3 4 5 6 7 8
Fed purchases of $1.24 trillion
in securities backed by residen- tial mortgages helped reduce rates during the past year, push- ing them to a record low of 4.71 percent in December. The pro- gram concluded Wednesday. Fixed mortgage rates will prob- ably rise less than a quarter of a percentage point in the next three months, according to esti- mates by Fannie Mae and Freddie Mac.
— From News Services
for getting it recorded. But in other cases, the lender mails the release directly to the borrower along with the borrower’s original promissory note and mortgage marked “PAID IN FULL.” The borrower is often so happy just to see the original note and mortgage marked “paid in full” that he stores those documents along with the original release in a safe-deposit box and never realizes that a title
jacobscontinued on E4
M1 M2 M3 M4 V1 V2 V3 V4
SATURDAY, APRIL 3, 2010
MONTHLY AVERAGES
FHFA mortgage rate
30-year, fixed- rate mortgages
5-year Treasury issues 3-year Treasury issues
1-year Treasury issues
J J A S O N D J F M A M J J A S O N D J F M
2008
2009 2010
THE WASHINGTON POST
PenFed Realty is a member of the Pentagon Federal Credit Union family.
Membership not required.
1
BUYER'S REBATE
Arlington, VA
MLS# AR7257055
Beautiful 2BR/1BA patio condo in sought after Cleveland House! New carpet & paint, assigned prkng & storage. Steps to bus or walk to Courthouse Metro!
Deliea Roebuck, 703-505-5252
Silver Spring, MD
MLS# MC7270737
4BR/2BA SF home w/ Farmhouse appeal. Refin red oak Fl’s, flagstne patio, grnhouse, shed & front porch! Easy access to Metro and bus. 9130 Walden Rd.
Gregory Gray, 240-482-7349
HOME BUYERS
%
HOME SELLERSList with PenFed Realty and get full-service marketing.
You can get a 1% rebate* when you buy a home with PenFed Realty. On a $400,000 home, that’s $4,000 back!
COMMISSION
5
SELLER'S
$299,000
Clinton, MD
MLS# PG7285558
Beautiful brick home w/ 4BR 2.5BA featuring new flooring, fresh paint, screened-in patio, pool & garage! Conveniently located to Andrews AFB & Rt. 5.
Maurice Jackson, 240-893-2288
$240,900
Front Royal, VA
MLS# FV7289848
Gorgeous former model TH on corner lot. 3BR/3.5BA, 2-story FP in FR, finished L/L, media room, & wet bar! Gated community w/ clubhouse, pool & lake.
John Church, 703-927-3152
Washington, DC
$348,000
$450,000
Upper Marlboro, MD
MLS# PG7287409
Beautiful end-unit condo in 55+ community w/ 2BR/2BA. Largest model w/ sunny solrium, HW & tile flrs, marble counter, & crwn mo'ding in all rooms!
Brenda Black, 202-256-7285
$237,900
MLS# DC7202361 PRICE REDUCED! Great location! 3BR/2BA brick end-unit w/ detached 1-car garage. Beautifully remodeled w/ newHWs, kit, baths, windows, boiler, roof, central air & furnace.
Bly Davis, 202-374-1236
%
Washington Post full-color listing ad to entire circulation of 647,647 Enhanced listings with extra photos on Realtor.com and Trulia
Listings advertised in PenFed branches including The Pentagon, Fort Myer, Fort Meade, Bolling AFB
Internet listing syndication to all major real estate portals including Craigs List, Zillow, Google, MSN, and 28 others Multiple military relocation sites, PenFed.org & PenFedRealty.com Real Estate Book & Home Buyers Journal Regional and community newspapers Realtor MLS
Contact one of our agents today.
703-716-2900 www.PenFedRealty.com
Indian Head , MD
$175,000
$349,900
MLS# CH7124720 4BR/2.5BA townhome. Three finished levels, deck, hardwood floors, fenced yard. Close to Naval Support facility.
Rita Stevens Carre, 240-432-5037
Washington, DC
$295,000
MLS# DC7264918 Right across from Eastern Market.Walk to everything! 1BR/1BA street level unit w/580
sq. ft. Lots of windows, hardwood floors,wood blinds. New heating & air conditioning.
Sally Barnes, 571-239-5202
La Plata, MD
MLS# CH7266133
Lg all brick 3BR/2.5BA rambler on 1.25 acre lot. No HOA. HWs throughout, lg remodeled kit w/updated appls, deck & lg FR w/ wood stove. Great location!
Jack Cianciotto, 301-651-1772
Woodbridge, VA
$129,950
MLS# PW7291573 Brick front 3BR/1.5BA TH w/ new stainless steel appliances, newer roof, windows, and hot water heater. Minutes to I-95 and Potomac Mills.
Carlo Washington, 703-229-2842
DC Metro Area HQ: 11864 Sunrise Valley Drive, Suite 101, Reston, VA 20191 • Please visit our web site for offices in your area.
*Certain restrictions may apply.
If you can find a better deal, take it.
4.0% RATE 4.166% APR
5/5 ARM
Jumbo & Conforming—Same Rate
Adjusts only once every 5 years
We pay most lender’s fees†
No Origination Fee
For purchases & refinancing
Apply today at Pentagon Federal Credit Union
PenFed.org/MortgageDC
800.970.7766 ~ Se habla español.
Allrates andoffersare as of April1,2010, offeredfor a limited time,and subjecttochangewithout notice.Ata4.000%initial interest rate,the APRfor this loan type is 4.166%, and can increase. Based on current market conditions, the monthly payment schedule for a $600,000 loan would be 60 payments of $2,865 at an interest rate of 4.000%, then 299 payments of $2,940 at 4.250% followed by 1 payment of $2,941 at 4.250%. (Principal and interest only. Payment will be higher with taxes and insurance.) The initial rate can change every 5 years by no more than 2% up or down, never to exceed 5% above the initial rate. The adjusted rate will be the lower of the then current index andmargin or then current 5-yr ARMrate. †Investment properties are not eligible for this rate or lender fee offer. Existing PenFed mortgage is not eligible for lender fee offer. PenFed pays credit report, flood search, tax set up and appraisal fees. We pay settlement attorney fees if one of our preferred settlement providers is used.Ifaloaniswithdrawn,doesnot close, or thepurchasecontractisterminated, allthird-party fees andcosts incurredwillbecome theresponsibility of the applicant. Other terms and conditions for lender’s fees may apply; please contact a mortgage representative for details. Different terms and conditions may apply in Puerto Rico.
$279,900
Alexandria, VA
MLS# AX7293297
Commuters dream & move-in ready! Spacious condo in Hillwood community. Beautiful HWs in foyer & dining area. FP, patio, W/D, lrg pantry & assignd prkg!
Deliea Roebuck, 703-505-5252
$259,900
Arlington, VA
MLS# AR7255368
Beautifully updated 3BR/3BA home near Crystal City Metro! New granite, maple cabs, SS appls, HWs, paint. Gas FP, deck, fenced bckyrd, & prvt drive.
Dean Self, 571-228-0239
Reston, VA
$489,900
MLS# FX7282218 Gorgeous 4-level TH. HWs on 3 lvls, 42”cabs, brkfast bar, MBR w/remodeled BA. Enormous bonus rm in walk-out basement. Close to future Metro, Reston Town Ctr & Dulles Airport.
The Wiles Group, 703-868-1571
Motivated Agents Wanted!
PenFed Realty is now interviewing top agents — call today!!
John Sabo, 703-716-2900
$774,900
SIMMS PL. RAUM ST. MEIGS PL. MEIGS PL. TERR. CHILDRESS ST.
QUEEN ST.
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