Connect with us

Living

A broker buys his first home

At last, enjoying the benefits of homeownership

Published

on

nice house, real estate, gay news, Washington Blade
house, home, gay news, Washington Blade, real estate

This is an incredible market in which to take an exciting, well-calculated leap. (Photo by iStock)

By SAMMY DWECK 

Your Realtor can tell you all day long about the joys of your impending homeownership – I’ve been telling my clients for years as I’ve watched them relish the benefits of equity, tax deductions and, most importantly, pride in ownership. In a competitive market drought with bidding wars and low inventory, I reassure my clients that real estate is a long-term investment. Advantageous mortgage rates make a desirable housing market substantially more affordable, and given the state of the market, I took my own advice and started searching for a home for myself.

After saving up for my down payment, I purchased my first property in April for the same price the seller paid for it in 2006, toward the height of the market. I paid the list price after a contract for the same property fell through, and the listing agent gave me an opportunity to swoop in as a backup before going back to the open market. Why, you might ask, would someone in the real estate know pay list price for a property? I live in the same reality as all of my clients – I am competing with other motivated people who want to take advantage of low mortgage rates, and I must contend with the same tight inventory. When I saw something very special, I figured that it would be hard to go wrong at an interest rate starting with a three.

While the difference of a percentage point or two in a mortgage rate may seem small, the effect on affordability at a lower interest rate is simply indisputable and significant. For instance, a $500,000 condominium with a 20 percent down payment, D.C. property taxes of 0.85 percent and a $500 per month condo fee results in a monthly payment of about $2,650 at 3.5 percent on a 30-year fixed.

According to Freddie Mac, the average 30-year fixed rate seven years ago, in May 2006, was 6.6 percent. Changing nothing else except the rate, the same property that costs you $2,650 per month today would have cost you $3,409 per month at the prevailing rate of seven years ago.

While prices are comparable, monthly affordability is wildly disparate. In fact, simple math shows that to achieve the same monthly payment at 6.6 percent, you give up $130,000 of purchasing power, resulting in a $370,000 property instead of a $500,000 one in the above scenario. Further, you build about $4,000 more equity in year one alone (the year the most goes to interest) at 3.5 percent than at 6.6 percent, even given the lower monthly payment. Put less money down, and the effect is even more pronounced. This is a really good time to borrow money if you can afford to pay it back.

As you can see, the math made sense and this logic extended to my own purchase. The intangibles of home ownership that I’ve always promised my buyers became my reality. I happily began to make the place my home – I fixed the shower spout my first week in my new property ($125), made the French doors from the foyer to the living room sit flush ($500), installed electrical fixtures (oy vey), painted – I’ll spare you another math lesson, but to me, this was money well spent. It was the kind of thing I always wanted to do in all of the places I rented, but that would have been money out the window. Walking into my foyer after a long day of work, I smile. The fruits of my investment in myself are ones I get to reap every day. I now own something I can take great pride in – and trust me, I do.

So, prospective buyer, I too have now put my money where my mouth is – this is an incredible market in which to take an exciting, well-calculated leap.

Sammy Dweck of The Amber & Sammy Group with Evers & Co. Real Estate, Inc., is a licensed real estate agent specializing in townhouse, condo and co-op sales in the D.C. metro area. Reach him at G[email protected] or 202-716-0400.

Advertisement
FUND LGBTQ JOURNALISM
SIGN UP FOR E-BLAST

Real Estate

Unconventional homes becoming more popular

HGTV show shines spotlight on alternatives to cookie cutter

Published

on

Shipping container homes have gained popularity in recent years. (Photo by Suchat Siriboot/Bigstock)

While stuck in the house surrounded by snow and ice, I developed a new guilty pleasure: watching “Ugliest House in America” on HGTV. For several hours a day, I looked at other people’s unfortunate houses. Some were victims of multiple additions, some took on the worst décor of the ‘70s, and one was even built in the shape of a boat.

In today’s world, the idea of what a house should look like has shifted dramatically. Gone are the days of cookie-cutter suburban homes with white picket fences. Instead, a new wave of architects, designers, and homeowners are pushing the boundaries of traditional housing to create unconventional and innovative spaces that challenge our perceptions of what a home can be.

One of the most popular forms of alternative housing is the tiny house. These pint-sized dwellings are typically fewer than 500 square feet and often are set on trailers to allow for mobility. Vans and buses can also be reconfigured as tiny homes for the vagabonds among us.

These small wonders offer an affordable and sustainable living option for those wishing to downsize and minimize their environmental footprint. With clever storage solutions, multipurpose furniture, and innovative design features, tiny homes have become a creative and functional housing solution for many, although my dogs draw the line at climbing Jacob’s Ladder-type steps.

Another unusual type of housing gaining popularity is the shipping container home. Made from repurposed shipping containers, these homes offer a cost-effective and environmentally friendly way to create modern and sleek living spaces. With their industrial aesthetic and modular design, shipping container homes are a versatile option for those contemplating building a unique and often multi-level home.

For those looking to connect with nature, treehouses are a whimsical and eccentric housing option. Nestled high up in the trees, these homes offer a sense of seclusion and tranquility that is hard to find in traditional housing. With their distinctive architecture and stunning views, treehouses can be a magical retreat for those seeking a closer connection to the natural world.

For a truly off-the-grid living experience, consider an Earthship home. These self-sustaining homes use recycled construction materials and rely on renewable energy sources like solar power and rainwater harvesting. With their passive solar design and natural ventilation systems, Earthship homes are a model of environmentally friendly living.

For those with a taste for the bizarre, consider a converted silo home. These cylindrical structures provide an atypical canvas for architects and designers to create modern and minimalist living spaces. With curved walls and soaring ceilings, silo homes offer a one-of-a-kind living experience that is sure to leave an impression.

Barn homes have gained popularity in recent years. These dwellings take the rustic charm of a traditional barn and transform it into a modern and stylish living space. With their open, flexible floor plans, lofty ceilings, and exposed wooden beams, barn homes offer a blend of traditional and contemporary design elements that create a warm and inviting atmosphere, while being tailored to the needs and preferences of the homeowner.

In addition to their unique character, barn homes also offer a sense of history and charm that is hard to find in traditional housing. Many of them have a rich and storied past, with some dating back decades or even centuries.

If you relish life on the high seas (or at a marina on the bay), consider a floating home. These aquatic abodes differ from houseboats in that they remain on the dock rather than traverse the waterways. While most popular on the West Coast (remember “Sleepless in Seattle”?), you sometimes see them in Florida, with a few rentals available in Baltimore’s Inner Harbor and infrequent sales at our own D.C. Wharf. Along with the sense of community found in marinas, floating homes offer a peaceful retreat from the hustle and bustle of city life.

From tiny homes on wheels to treehouses in the sky or homes that float, these distinctive dwellings offer a fresh perspective on how we live and modify traditional thoughts on what a house should be. Sadly, most of these homes rely on appropriate zoning for building and placement, which can limit their use in urban or suburban areas. 

Nonetheless, whether you’re looking for a sustainable and eco-friendly living option or a whimsical retreat, there is sure to be an unconventional housing option that speaks to your sense of adventure and creativity. So, why settle for a run-of-the-mill ranch or a typical townhouse when you can live in a unique and intriguing space that reflects your personality and lifestyle?


Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her at [email protected] or follow her on Facebook at TheRealst8ofAffairs.

Continue Reading

Real Estate

Convert rent check into an automatic investment, Marjorie!

Basic math shows benefits of owning vs. renting

Published

on

Knowledgeable lenders can discuss useful down payment assistance programs to help a buyer ‘find the money.’ (

Suppose people go out for dinner and everyone is talking about how they are investing their money. Some are having fun with a few new apps they downloaded – where one can round up purchases and then bundle that money into a weekly or monthly investment that grows over time, which is a smart thing to do. The more automatic one can make the investments, the less is required to “think about it” and the more it just happens. It becomes a habit and a habit becomes a reward over time.  

Another habit one can get into is just making that rent check an investment. One must live somewhere, correct? And in many larger U.S. cities like New York, Chicago, D.C., Los Angeles, Miami, Charlotte, Atlanta, Dallas, Nashville, Austin, or even most mid-market cities, rents can creep up towards $2,000 a month (or more) with ease.  

Well, do the math. At $2,000 per month over one year, that’s $24,000. If someone stays in that apartment (with no rent increases) for even three years, that amount triples to $72,000.  According to Rentcafe.com, the average rent in the United States at the end of 2025 was around $1,700 a month. Even that amount of rent can total between $60,000 and $80,000 over 3-4 years.  

What if that money was going into an investment each month? Now, yes, the argument is that most mortgage payments, in the early years, are more toward the interest than the principal.  However, at least a portion of each payment is going toward the principal.  

What about closing costs and then selling costs? If a home is owned for three years, and then one pays out of pocket to close on that home (usually around 2-3% of the sales price), does owning it for even three years make it worth it? It could be argued that owning that home for only three years is not enough time to recoup the costs of mostly paying the interest plus paying the closing costs.

Let’s look at some math:

A $300,000 condo – at 3% is $9,000 for closing costs.

One can also put as little as 3 or 3.5% down on a home – so that is also around $9,000. 

If a buyer uses D.C. Opens Doors or a similar program – a down payment can be provided and paid back later when the property is sold so that takes care of some of the upfront costs. Knowledgeable lenders can often discuss other useful down payment assistance programs to help a buyer “find the money.”  

Another useful tactic many agents use is to ask for a credit from the seller. If a property has sat on the market for weeks, the seller may be willing to give a closing cost credit. That amount can vary. New construction sellers may also offer these closing cost credits as well.  

And that, Marjorie, just so you will know, and your children will someday know, is THE NIGHT THE RENT CHECK WENT INTO AN INVESTMENT ACCOUNT ON GEORGIA AVENUE!


Joseph Hudson is a referral agent with Metro Referrals. Reach him at 703-587-0597 or [email protected].

Continue Reading

Autos

Hot rod heaven: Chevy Corvette, Dodge Charger

Two muscle cars strut their stuff

Published

on

Chevrolet Corvette

Some vehicles age quietly — but not muscle cars. 

For 2026, the Chevrolet Corvette tightens its focus, fixes one glaring flaw (the previously dowdy interior) and flaunts a futuristic design. The Dodge Charger, on the other hand, is loud and proud, daring you to ignore its presence at your peril. 

CHEVROLET CORVETTE

$73,000-$92,000

MPG: 16 city/25 highway

0 to 60 mph: 2.8 seconds

Cargo space: 13 cu. ft.

PROS: Awesome acceleration. Race-car feel. Snazzy cabin. 

CONS: No manual transmission. No rear seat. Tight storage. 

Finally, the Chevrolet Corvette feels as good inside as it looks flying past you on the freeway. That’s thanks to the classy, completely redesigned cabin. Gone is the old, polarizing wall of buttons in favor of a sleeker, three-screen cockpit. There’s a large digital gauge cluster, a wide infotainment screen angled toward the driver, and a marvy new auxiliary display. Everything is modern and a bit glitzy — but in a good way.  

Fit and finish are higher quality than before, and the controls are more intuitive. Chevy’s Performance App is now standard across trims, offering real-time data for drivers who enjoy metrics as much as momentum. And the new interior color schemes, including slick asymmetrical options, let you express yourself without screaming for attention—confidence, not obnoxious bluster. 

As for handling, the steering is quick and sure, body control is exceptional, and acceleration is blazingly fast. A mid-engine layout also delivers sublime balance. 

Three trim options, including the V8-powered Stingray, the E-Ray (also with a V8 but paired with electric all-wheel drive), and the Z06 and ZR1 variants for racing devotees. 

(Note to self: For a truly mind-blowing experience, there’s the new 1,250-horsepower ZR1X all-electric supercar that goes from 0 to 60 mph in less that 2 seconds and is priced starting at $208,000.)

Yes, the ride in any of these Corvettes can be firm. And visibility is, well, rather compromised. But this supercar is a total Dom, not a timid sub. Think Alexander Skarsgard in “Pillion,” and you get the picture. 

DODGE CHARGER

$52,000-$65,000

MPG: 16 city/26 highway

0 to 60 mph: 3.9 seconds

Cargo capacity: 22.75 cu. ft.

PROS: Choice of gas or EV power. Modern tech. Spacious cabin. 

CONS: No V8 engine (yet). Soft steering. Less-than-lithe cornering.

Everything old is new again for the Dodge Charger. The automaker initially was phasing out gas-powered models in a shift to electric vehicles but then quickly pivoted back to include gas engines after yo-yo regulatory changes this year from, well, the yo-yos in the White House. 

Powerful twin-turbo engines in the R/T and Scat Pack trims produce up to 550 horsepower. These models come standard with all-wheel drive but can be switched to rear-wheel drive for classic muscle-car antics when the mood strikes you.

At the same time, Dodge still offers the electric Charger Daytona, delivering up to 670 horsepower and ferocious straight-line acceleration. 

The Charger’s aggressive design, massive digital displays and practical hatchback layout carry over, reinforcing its ability to be both a performance diva and everyday companion. With the larger-than-expected storage space, I appreciated being able to fit a boatload of groceries in the trunk during a Costco run. 

New wheel designs, paint choices and trim variations help you visually distinguish between gas and electric Chargers. But no matter the model, each one feels decisive and deliberate on the road. Commuting in stop-and-go traffic during rush hour is fine, but this street machine excels at high-speed cruising on the freeway. 

The turbo six-cylinder engine delivers muscular torque with less drama than the old V8s, but still with plenty of urgency. The electric Daytona version is a different kind of thrill, with its instant, silent thrust that feels like it could almost launch you to the moon. 

Steering is stable but not exactly crisp, and the Charger’s weight makes it less lithe—and lively—than other muscle cars, especially when navigating tight corners. 

But that’s just fine with me. Like Bea Arthur as Dorothy in “The Golden Girls,” this no-nonsense muscle car is proud to be big, bold and brassy. 

Continue Reading

Popular