Living
10 rules of real estate for new buyers
If something looks too good to be true, it is
By TED SMITH
Presumably, all first-time homebuyers have heard the advice about speaking to a lender to get pre-approved before you start looking. This is good advice for several reasons:
- It sets your expectations about what you can afford.
- It allows you to move quickly to find a home you’d like to buy.
- Sellers will require such a letter along with your contract offer.
In this column, I want to add some other guidelines based on my work with many first-time buyers. In no particular order of importance, here they are:
In a seller’s market like today’s, there are very few (if any) bargains for buyers.
If something sounds too good to be true, it probably is.
Similarly, if something looks too good to be true for the price, it probably is. A picture is worth a thousand lies; that’s why God invented wide-angle lenses.
However, it’s also a bad sign if there are no pictures in the listing — or only a picture of the outside—especially if the home has been on the market for a while.
If a home has been on the market for more than 90 days, there’s probably something wrong with it, or it’s overpriced.
The amount of drama in a real estate transaction increases exponentially as you approach the settlement date.
Something will always go wrong the day before settlement.
Buying and selling a home is like a simultaneous marriage (for the buyer) and divorce (for the seller). In the same way that you wouldn’t want to use the same lawyer for that, you don’t want to have the same real estate agent try to represent both sides of a transaction.
Loan officers get paid to make loans; underwriters get paid to prevent bad loans from being made. Sometimes loan officers and underwriters at the same lending company appear to be working at cross-purposes.
Appraisers and inspectors are just doing their jobs, though it often seems they are working against you. Since you’re paying for them as the buyer, they’re actually working for you to make sure you don’t buy an overpriced lemon.
The most important guideline is this: Keep your sense of humor throughout the home-buying process. It will reduce your stress through one of the most potentially stressful (and largest) financial transactions of your life. And it will keep you from getting too attached to a property in case it doesn’t work out. As we say in our office when a deal falls through, “NEXT!”
Ted Smith is a licensed Realtor with STAGES Premier Realtors specializing in mid-city D.C. Reach him at [email protected] or follow him on Facebook.com/MidCityDCLife, Youtube.com/TedSmithSellsDC or @TedSmithSellsDC. You can also join him on weekly tours of open houses specifically geared toward first-time buyers. Sign up at meetup.com/DCMidCity1stTimeHomeBuyers/.
Real Estate
Transform your home with energy-efficient LED lighting
Add sconces, lamps, outdoor accents, and more
The light-emitting diode (LED) is today’s most energy-efficient and rapidly developing lighting technology. Quality LED light bulbs not only last longer but are more durable and provide comparable or better light quality than other types of lighting. In fact, the inventors of the LED were awarded the Nobel Prize in Physics in 2014 for their groundbreaking invention. This simple bulb has transformed how we light our homes, significantly reducing energy usage and reshaping the future of home lighting.
When incorporated effectively, LED lights into your home can create a visually appealing as well as an energy-efficient environment. Let’s both save on electricity bills and also do this aesthetically well.
As the real estate market in Washington, D.C., continues to evolve, landlords are constantly looking for ways to make their properties more appealing to tenants. One of the simplest yet most impactful upgrades a property owner can make is improving the lighting in their rental units, particularly by using LED lighting. LED technology offers a range of benefits that can transform spaces, improve energy efficiency, and enhance tenant satisfaction.
Incorporating Downlighting with LED Technology
LED downlights are a popular choice for those looking to add modern, subtle lighting to their homes. According to a post on Quora by contributor Nick Chris, “LED downlights can be installed in ceilings to provide direct and focused lighting, perfect for task-oriented areas like kitchens or bathrooms.” The post also highlights that downlights can be used in living rooms to create ambient lighting, adding that “LED downlights are a great option for areas where you want to minimize the visibility of the light fixture itself while maximizing the impact of the light.”
By using LED downlights strategically, you can direct light exactly where you need it, providing both functional and aesthetic benefits.
Lighting Dark Spaces: Transforming Basements and Beyond
One of the biggest challenges landlords face is making dark or poorly lit areas more inviting, especially in basements. LED lighting, particularly flat ceiling spots, can dramatically change the ambience of these spaces. Many basements in older homes or rental units can feel dark and uninviting, but by installing LED ceiling fixtures, landlords can make these areas bright, warm, and attractive. Tenants often respond positively to these improvements, as a well-lit basement can shift the overall perception of a property from gloomy to welcoming.
The key benefit of these LED fixtures is that they don’t require much ceiling space, making them easy to install in areas with lower ceilings. This is particularly useful in basements, where ceiling height is often limited. Additionally, these lights can be strategically placed to maximize illumination without overcrowding the room, allowing for better use of the space.
Customizing the Mood
LED lighting provides not only brightness but also versatility. One of the standout features is the ability to adjust both the color temperature and the brightness level. This allows for light customization, from bright, crisp white to a softer, more soothing yellow. For landlords, this flexibility helps in creating comfortable and appealing environments that can suit a wide range of tenant preferences, whether in living rooms, bedrooms, or basements.
Many LED fixtures also come with dimmable options, giving both landlords and tenants more control over the lighting. In practice, this means the lighting can be adapted for different times of the day or for various activities, making it a versatile choice for rental properties.
Energy Efficiency
Another major advantage of LED lighting is its cost-saving potential. LEDs consume only a fraction of the energy required by traditional incandescent or CFL bulbs, leading to significantly lower electricity bills. This is beneficial for landlords in common areas or in rental units where utilities are included in the rent, as well as for tenants who are responsible for their own utility payments.
With LEDs, landlords can also reduce maintenance costs, as these bulbs last much longer than traditional ones and do not need to be replaced as frequently. This durability is a major asset, particularly in rental properties where long-term reliability is essential.
Enhancing Curb Appeal
Lighting improvements aren’t limited to interiors. LED bulbs can also be used effectively in exterior fixtures to enhance curb appeal. Bright, efficient lighting in entryways, pathways, and parking areas not only makes properties more attractive, but also improves safety for tenants returning home after dark.
By installing LED lighting outdoors, landlords can create a welcoming and secure environment for tenants, further increasing the value and desirability of their rental properties. Additionally, the long-lasting nature of LED bulbs means exterior lighting can remain functional for extended periods without the need for frequent replacements.
Tailoring LED Lighting to Each Property
When it comes to lighting solutions, one size does not fit all. LED lighting offers the flexibility to tailor lighting solutions based on the specific needs of each property. Whether upgrading overhead fixtures in living spaces or installing adjustable LED spots in dim basements, landlords can use LED lighting to enhance their properties’ function and appeal. By investing in high-quality fixtures and leveraging the energy efficiency, versatility, and brightness of LEDs, landlords can improve tenant satisfaction and retention, making their properties more competitive in the rental market.
Practical and Decorative Uses for LED Lights
LEDs aren’t just for basic lighting needs; they can be used to enhance the aesthetic appeal of your living spaces. Here are some creative ways to incorporate LED lighting into your home:
Accent Lighting: Under-Cabinet Lighting: LED strips installed under kitchen cabinets not only illuminate your countertops but also add a sleek, modern touch.
Bookshelves and Display Cases: Showcase your favorite books or collectibles by integrating LEDs into your shelves.
Toe-Kick Lighting: Installing LED strips along baseboards or under bathroom and kitchen cabinets adds a subtle and modern glow.
Task Lighting
Desk Lamps: For workspaces, LED desk lamps provide focused, bright light, which can reduce eye strain.
Reading Nooks: Place LED floor or table lamps in cozy corners to create well-lit spaces perfect for reading.
Ambient Lighting
Cove Lighting: Install LED strips in ceiling recesses or coves to create indirect lighting that adds depth and softness to any room.
Wall Sconces: Use LED sconces in hallways or living rooms for soft, ambient lighting.
Decorative Lighting
Fairy Lights: String LED fairy lights over headboards, furniture, or windows to create a whimsical and cozy atmosphere.
LED Candles: Opt for LED candles that offer a flickering effect without the fire risk, perfect for creating a warm ambiance.
Outdoor Lighting
Pathway Lights: Enhance safety and beauty by lining your walkways with LED pathway lights.
Deck Lighting: Embed LEDs into decks or stairs to illuminate your outdoor spaces for nighttime gatherings.
Holiday Decorations
Christmas Lights: LED lights are perfect for decorating your Christmas tree or mantels, providing a festive and energy-efficient glow.
Functional Lighting
Closets: Brighten up closets by installing small LED fixtures for better visibility.
Garages and Basements: Use powerful LED lights in garages and basements for well-lit, functional spaces.
Tips for Effective LED Lighting
Plan Your Design: Thoughtfully plan your LED lighting layout to enhance both functionality and design.
Choose the Right Color Temperature: Warm white (2700K-3000K) is perfect for cozy spaces like bedrooms, while neutral white (3500K-4100K) works well in kitchens and workspaces. For bright areas, opt for daylight (5000K-6500K).
Ensure Dimmer Compatibility: If you plan to use dimmable LED lights, check that they are compatible with your dimmer switches.
Energy Efficiency: Always look for LED lights with high energy ratings to maximize your savings.
Whether you’re upgrading your home’s lighting or planning for a renovation, LED lights offer a versatile and energy-efficient solution that can significantly reduce your electricity costs. By incorporating LED technology into your lighting design, you’re not only creating a more comfortable and appealing living space but also contributing to a more sustainable future.
Scott Bloom is owner and senior property manager at Columbia Property Management. For more information and resources, go to ColumbiaPM.com.
Business
Small businesses and a big plan
Kamala Harris’s plan could impact D.C. small LGBTQ-owned establishments
One of the unique aspects of living and working in Washington is that residents constantly witness how presidential elections shape policy and, in turn, how those policies directly impact daily life.
For some people, policy changes seem irrelevant, but for a growing number of Americans working in small businesses, presidential policy is crucial. These policy shifts that change with the sitting president can often mean the difference between having a thriving business, or no job at all.
In September, Vice President Kamala Harris announced her economic plan to help small businesses grow. This plan, which she has called her “Entrepreneurs and Innovators Policy Plan,” attempts to address some of the biggest issues that small business owners face when starting and growing their businesses.
The Washington Blade sat down with several LGBTQ business owners in Washington to discuss how they feel the vice president’s plan could impact them if she gets elected.
David Burton, the owner of the Capital Candy Jar, a candy maker and shop, was excited to hear about the policy’s goal to increase access to capital for underserved communities, especially within the LGBTQ community.
When he began his candy business 10 years ago, Burton lacked the large access to capital he needed to get things started, so he relied on generous hello from family and friends.
“This is going to be a game changer for a lot of startups,” Burton said. “When I was first starting out I was calling friends and family and maxing out every credit card I had, begging people to loan me money for three or four months until I could get through the holiday season and pay them. Luckily, I had some very generous and really kind people in my life that were able to help me.”
This issue of high startup costs is not unusual for small businesses. These high initial costs can act as a barrier for potential entrepreneurs.
Jimmy Hopper, owner of Three Fifty Bakery in Dupont Circle, says he experienced these issues when he opened the bakery 10 years ago.
“For new business, it’s really tough,” Hopper said. “You can either use your own money or you get loans from friends because banks will not give you a loan unless you have collateral. When I opened the bakery, I pretty much spent all of my savings, my retirement, everything to open the bakery, because there was nothing available for me.”
One of the ways the vice president is attempting to alleviate this stress of high startup costs is by launching the largest-ever direct federal investment in small business incubators and accelerators. This program would provide small businesses with resources, mentorship, and networks during the first few years of the company to encourage growth.
In her policy, Harris wants to change the startup expense deduction of $5,000 to $50,000, which is 10 times bigger than it stands now.
Joshua Hill, the co-founder and principal at Hill & Hurtt Architects and president of the Equality Chamber of Commerce, Washington’s nonprofit LGBTQ business organization, feels this policy could especially help LGBTQ business owners when starting up.
“I think so many LGBTQ businesses, and potential future business owners are starting at a disadvantage, potentially, right?” Hill said. “They have been discriminated against in their workplace. So they launch their own business. And in the D.C. area, it’s a lot better than it is in other parts of the country, for sure, or other parts of the world, but they’re still starting at a disadvantage.”
Hill continued, saying that providing this access to capital is one clear way to alleviate these disadvantages.
“Most people don’t have the opportunity to sock away 50K for living expenses while they’re making nothing and building their business,” he said. “I think that, certainly for me, would have helped just move things along more quickly.”
Another large aspect of Harris’s Entrepreneurs and Innovators Policy Plan is to simplify tax filing for small businesses.
The way that taxes are collected for small businesses in the U.S. is very complex and requires lots of information from the business owner. A very simplified view of this process includes finding the right tax form (singular owners use one tax form whereas corporations and partnerships each have their own different set of forms), report on the income and payroll of the business, calculate their sales tax, claim deductions and credits for various business expenses, calculate state tax, and then pay off the taxes.
This complex taxing process has lots of places where one error in reporting could cost a business time, money, or possibly jail time.
Harris’s plan advocates for the development of a standard deduction in the tax code, like how individual people file taxes that Harris argues can save small businesses time and money by simplifying filing.
Every person the Blade interviewed did say they hire a tax expert, either an accountant or a tax attorney, to help them keep their taxes in line. Collectively, the business owners felt that by simplifying how the business taxing process goes, their businesses could save time and money.
“Once you get into business, unless you’re an accountant, you probably have to pay someone to do your business taxes,” Burton explained. “The problem is, the bigger you get, the more they charge you. And that can add up very quickly, the bigger you get in the more complex it gets.”
Another concern raised by some LGBTQ business owners is the lack of a unified system for filing different levels of taxes, which makes the process more challenging.
“I think that’s where the most challenges were because you have the state, the local, federal, and it’s a lot of filings to keep track of, especially someone who doesn’t have a huge tax background,” said Hopper. “And a lot of the forms, in my opinion, are unnecessary but you still have to file them- even if they’re [the tax] $0, or you get assessed with a penalty.”
Hill, whose architecture firm works in Maryland, Virginia, and D.C., felt that he was having difficulty making sure that he complied for every state he worked in.
“As an architect where our business is in D.C. but we do work in Maryland, the income that we make from clients in Maryland has to be reported differently, and it’s taxed differently,” Hill said. “That goes for any companies that are a service based company. So it can get complicated pretty quickly. The more simple it can be, that’s another win on the financials, with time and money savings. Wouldn’t you rather be spending that time building your business or marketing or doing the things you love, instead of filling out tax forms or paying someone to do that?”
Harris’s plan also calls for 25 million new small business applications by the end of her first term. The plan explains this can be achieved by reducing excessive occupational licensing requirements, encouraging states and local governments to cut red tape, expanding capital to underserved communities — including the LGBTQ community, and by expanding the rural partners network nationwide to all states and territories.
The business owners also mentioned this ambitious goal, which reflected many of the points they had made earlier — specifically by supporting small businesses and simplifying red tape.
“I think you have to make it easy for people to start businesses, because there are a lot of regulations and roadblocks,” Burton said. “It seems that it’s very challenging to learn all the regulations as you start a business. So you might have a great idea, but then all of a sudden, you go to get your business license and find out ‘Oh, there’s all these other things you have to do.’
I think anything that can be done to remove regulatory roadblocks to starting businesses is going to help, because it’s not just LGBT ones. And then the second one, I, as I said before, I think is access to capital. I was super fortunate that I had savings and things that I could live on for the first year and even partially for the second and third years. But most people don’t have that, and so you might have the greatest idea in the world, but if you can’t afford to feed yourself, then you’re not going to start a business.”
Hill was surprised to read that during the Biden presidency a record 19 million new business applications were filled and felt if the focus stays on nourishing the small business that make up America, Harris can do it.
“I was pretty impressed by that stat, because the 19 million in new recorded business applications was from the start of the Biden-Harris administration, so three and a half-ish years, and now our goal is 25 million in the first year,” Hill said. “It’s a huge jump. I kind of see this as two, as two parts.
“One is the investment in the main streets and even the bids, would be really important. It’s interesting, because you can walk down the street and you can, like, all over the city, and there’s lots of missing teeth. There’s lots of shops that closed after COVID or shops that have closed because the COVID impact was just too much for them. And it seems like it’s taking a long time to get new folks to move in and start up. I feel like that, as a broad generalization, is happening all over the country. We live in D.C., where I think things are generally more stable than most parts of the country.”
“I think the other thing would be to not just focus on those main streets and bids in general, but also specifically in areas that need more money,” Hill added. “Places that have been either devastated by natural disasters that are low income, the places where parts of the infrastructure that need to be updated, that are that are falling apart. I feel like we really need to focus on those parts of our cities and do it in a way that, I mean, this is me getting on my soapbox a little, but do it in a way that really is about lifting up the people in the communities that are there, and the cultural heritage of those communities, and not just tearing things down and moving people out and gentrifying the area.
I think that if you’re really serious about this 25 million new business applications in the first year then I think that those are places where you can do a lot.”
Hopper, on the other hand, felt the focus should not be on getting a goal of applications in, but rather on supporting the small businesses currently struggling.
“So what gets me there a little bit, is applications,” Hopper said. “It’s easy to get applications, but how hard is it going to be for those applications to get any kind of funding? It is kind of everything we’ve talked about with helping a small business. If you don’t do that, you can have all those applications, but none of them turn out to be a business that’s actually opened unless you really back it up.”
Then, Michael Graham, Hopper’s partner, chimed in and explained he felt this could be achieved if more support was provided as the business grows through a sort of government assisted networking or mentorship program.
“I drive by coffee shops in areas, and I’m like ‘I know what it takes to run that here,” Graham said. “‘We’re in Dupont, I know how many cups of coffee you have to sell, how many people you have to have come in to make it.’ So when you see a business that opens and you’re like ‘Okay they just, if they did this, and if they did this it would make them successful.’ So I think maybe if the government had a better understanding, or putting that information out there through all of the agencies that you have to deal with, with opening a business, if you knew your LGBTQ contact for that department that would be super helpful, at least.”
One thing not mentioned in Harris’s plan that these business owners felt would greatly help improve the growth of LGBTQ businesses is to get a designated protected class status for the LGBTQ community. This status would safeguard LGBTQ people against discrimination from businesses and government entities.
This, although it would greatly help all aspects of being a member of the LGBTQ community, is difficult to achieve. This would require congress to pass legislation codifying the group as a protected class into law.
Burton believes that gaining this protected status and securing access to the 5 percent minimum of jobs reserved for minority-owned businesses within government contracts would strengthen the LGBTQ business community.
“The full 10 years we have been as an LGBT owned business, and every year, especially during pride month, I get a lot of business from people wanting to support LGBT owned businesses. There is nothing in the federal government right now that requires the federal government to support specifically LGBT owned businesses. Putting that in, I think that it would benefit all LGBT owned businesses.”
Hopper and Graham agreed, but felt the status impact on directly protecting discrimination lies at the heart of it.
“Let’s be real,” Graham said. “We are a minority, and we’re still fighting for our rights every single day.”
“If we were both straight white guys and we were opening a business anywhere, we’re not going to ever be discriminated against,” Hopper added. “A building owner isn’t going to be like, ‘Oh, you’re two straight white guys. I don’t want to lease to you.’ But I could see some businesses where you could go to the landlord and be like, ‘We want to lease your space for a kitchen,’ only to find out that they are not going to lease to you because they don’t agree with you being gay. I think being a protected class, a protected minority, would help keep you from being discriminated against, and that affects you opening your business, running your business, or any of that.”
Hill read through the policies and noticed LGBTQ businesses weren’t highlighted like other minority groups were. That caused him to start thinking as both a business owner and as president of the Equality Chamber of Commerce, where he felt this protected status would allow for a broader sense of community within the LGBTQ business community.
“One thing that definitely made sense to me was this connection to organizations like the National LGBT Chamber of Commerce and if there is a way to encourage more of LGBTQ owned businesses to join groups,” Hill said. “There’s so many people who don’t even know that this group exists, but that that is a key to giving those groups access to broader contracts. You know a lot more in terms of supplier diversity and really bringing money directly into the LGBTQ community.”
When asked if they believe Harris’s “Entrepreneurs and Innovators Policy Plan” would directly help them as an LGBTQ-owned business, each person emphatically said yes.
“I think so many people would benefit from this, and the people that we care so much about,” Hill finished. “It’s the American dream, Right? Finding something that you’re excited or passionate about and starting your own business. Everyone should have that opportunity.”
Real Estate
Migration trends: LGBTQ buyers moving to suburbs, small cities
Finding welcoming communities beyond traditional urban strongholds
Over the past few years, a significant migration trend has emerged: many buyers are leaving urban areas in favor of suburban or smaller city life. This shift is largely driven by the rise of remote work, lower cost of living, and the appeal of a quieter, more spacious environment. For LGBTQ buyers, this trend offers unique opportunities and challenges as we seek welcoming, affirming communities beyond the big cities.
Why LGBTQ Buyers Are Considering Small City Living
Historically, LGBTQ individuals have flocked to larger cities known for their vibrant queer communities, social support, and acceptance. Cities like San Francisco, Chicago, New York, Miami and Los Angeles have long been hubs for LGBTQ life. However, recent trends show a shift in priorities:
- Remote Work Flexibility: The pandemic accelerated the adoption of remote work, giving many the flexibility to live outside urban centers. LGBTQ individuals can now prioritize factors like home space, affordability, and lifestyle without being tied to a city office. This newfound freedom allows us to consider locations that may offer a more balanced quality of life.
- Affordability and Space: Urban centers have high costs of living, making homeownership a challenge. Many LGBTQ buyers are looking to build families and settle down, which often requires more space than city living affords. Suburbs and smaller cities typically offer larger properties and single-family homes at a more affordable price, making them appealing options for those seeking more space and financial savings.
- Emerging LGBTQ-Friendly Communities: While cities have traditionally been safe havens for LGBTQ individuals, many suburbs and smaller cities are becoming increasingly inclusive. With Pride festivals, community centers, and local businesses openly supporting LGBTQ causes, these areas are actively working to attract and retain LGBTQ+ residents
Considerations for LGBTQ Buyers in the Suburbs
Moving to a less densely populated area may offer financial and lifestyle benefits, but it’s essential for LGBTQ buyers to research and ensure they are moving into a supportive environment. Here are some factors to consider:
- Assessing Inclusivity and Safety: Before moving, it’s wise to visit potential neighborhoods to get a feel for the local culture. Researching online forums, LGBTQ community groups, and checking local nondiscrimination laws can also provide insight into a location’s inclusivity.
- Access to LGBTQ Services and Community: Many LGBTQ individuals value access to queer-friendly healthcare providers, legal support, and social networks. Some smaller communities may lack these resources, so it’s important to verify that you’ll have access to the necessary support services.
- Finding Local LGBTQ Groups: Community connection is crucial for LGBTQ individuals. Many suburbs have smaller but growing LGBTQ groups, often organized through social media or apps like Meetup. These groups can help you form connections, find local allies, and establish a sense of belonging in your new area.
Suburban Growth and Its Impact on LGBTQ Buyers
The migration to suburban areas has led to increased demand for single-family homes, which can lead to supply shortages and higher competition. In some LGBTQ-friendly suburbs, this demand has driven property values up as more people seek out homes that provide both the physical and emotional space they need to thrive.
Some suburban areas are responding to this demand by creating or improving amenities such as public transportation, dining, and cultural attractions, all of which contribute to a vibrant community. For LGBTQ buyers, this trend could mean greater access to the cultural and social opportunities they may miss from city life, alongside the benefits of suburban living.
The migration of LGBTQ individuals to suburbs and smaller cities highlights an exciting shift in lifestyle and priorities. As more suburban areas embrace diversity and inclusivity, LGBTQ buyers have the opportunity to find welcoming communities beyond traditional urban strongholds.
At GayRealEstate.com, we’re here to help you find LGBTQ-friendly real estate agents who understand your unique needs and can guide you through the process of finding your perfect home, wherever that may be. Whether you’re looking in a bustling city, a tranquil suburb, or a charming small town, our network is here to support you every step of the way.
Jeff Hammerberg is founding CEO of Hammerberg & Associates, Inc. Reach him at 303-378-5526 or [email protected].
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