Financial
Wine selling, story telling
Local Vine Cellar wine and spirits shop is the talk of Penn Quarter
Although a diverse professional journey provided the path, local proprietor David-Michael Shott has never been more at home.
The founder and owner of The Local Vine Cellar fits like a bottle sleeve amid the warm burnt-sienna walls and dark wood shelving that give the well-designed and inviting 1,300 square-foot shop the ambience of a libation collectorās brick-accented repository. Typically outfitted in tweed or textured jacket with pocket square while sporting loosely slicked-back hair and facial stubble, itās easy to imagine the youthful but professorially bespectacled 41-year-old Shott ensconced among a personal reserve of select wines and small-batch liquors.
At the independent enterprise launched two summers ago, he is.
Alongside John Gjika, Shottās partner in business and life, the engaging duo assemble the storeās diverse selections. Stocking more than 500 wines and 150 craft spirits, they carefully curate a dynamic portfolio and extensive inventory of artisanal offerings.
Their focus is on small family-run international and domestic vineyards, producing fewer than 50,000 cases a year, and small-batch liquor distilleries. The shop offers some of the most unique and sought-after products on the market ā within an affordable price range and including bottles of wine under $15. A selection of craft beers and premium cigars are also available.
āCurating acquisitions is like getting postcards from all around the world,ā Shott explains, pointing out that specialized varietals ātake people on a journey of discovery.ā He adds that while avoiding media-driven labels in search of the distinctive, āwe also satisfy customer desire for classic vintages while striving to present hard-to-find, low-yield and exclusive products.ā
The goal is to ādemystify and deconstruct the buying experience for the customer,ā partner Gjika says, with the effervescence of an uncorked bubbly. Guiding customers in an appropriate choice, whether for home or special occasion or gift giving, he delights in assisting the connoisseur and casual shopper alike.
Both operators strive to make the process accessible to all. āThe demographic changes in the city have prompted more openness to unique wines and spirits,ā Shott says. āThe wave of new residents and younger millennialsā in the city āare well-traveled, inquisitive and want something special,ā he observes, āand both of us enjoy introducing them to that.ā
Located in D.C.ās center-city Penn Quarter mixed-use neighborhood, at 425 11th St., N.W., the business has quickly become a favorite among those living, working and visiting in the area. āDestination customersā drawn to the unique selections and personalized service unavailable elsewhere also comprise shop patrons.
Shott and Gjika opened the storefront a year-and-a-half ago, meeting during the build-out. When remodeling the space, only steps from Pennsylvania Avenue and within the shadow of the historic Old Post Office Pavilion clock tower atop the soon-to-be Trump International Hotel, they injected a comfortable Old World dƩcor and charm.
Under a 20-foot ceiling with natural walnut porcelain flooring below, the interior features elevated wooden tables ideal for the sampling events and presentations that have become popular regular functions. A large Tuscan table is a prominent focal point, evoking more the ambience of a Napa Valley winery cellar than a retail environment.
A robust event schedule includes visiting winemakers introducing their products in a relaxed social setting. Tastings, informal seminars, intimate wine dinners and other events are announced on the company website, email newsletter, and social media.
Shott and Gjika note that customers have strong sense-related memories of wine, in particular, prompting storytelling of favorite vintages, past travels and vineyard visits. āEvery winery has a story,ā Shott points out, āand so do our customers and they love to share them with us.ā
These dedicated entrepreneurs are quickly building their own story of success.
Mark Lee is a long-time entrepreneur and community business advocate. Follow on Twitter: @MarkLeeDC. Reach him at [email protected].
Real Estate
What LGBTQ buyers, sellers need to know about new real estate rules
Regulations are reshaping how transactions are conducted
In recent months, the real estate landscape has undergone significant changes, with new rules and regulations reshaping how transactions are conducted. These changes affect buyers and sellers across the board, but LGBTQ individuals and couples navigating the housing market should be particularly aware of how these updates might impact their decisions and opportunities. At GayRealEstate.com, weāre here to keep you informed and empowered.
1. Transparency in Agent Compensation
One of the most notable changes involves how real estate agents are compensated. New rules aim to increase transparency, requiring agents to clearly disclose their commissions and how they are paid. For LGBTQ buyers and sellers, this means youāll have a better understanding of the financial side of your transaction, making it easier to avoid hidden fees or misunderstandings.
Tip: Make sure your agent explains their compensation structure up front. Working with an LGBTQ-friendly real estate agent through GayRealEstate.com ensures youāre connected with professionals who prioritize clarity and fairness.
2. Contracts Before Home Tours
In some areas, buyers are now required to sign a representation agreement before touring homes. While this adds a layer of formality, it can also help you establish a stronger relationship with your agent and ensure theyāre working in your best interest.
What It Means for LGBTQ Buyers: Choosing an agent who understands your unique needs is critical. Signing a contract ensures that your agent is committed to helping you find a home in a community where youāll feel safe and welcome.
3. New Protections Against Discrimination
Recent policy changes reinforce anti-discrimination measures in housing, which is particularly relevant for LGBTQ individuals. While federal laws like the Fair Housing Act prohibit discrimination based on sexual orientation and gender identity, some states have gone further by implementing additional protections.
How to Navigate: Familiarize yourself with your stateās specific laws, and rely on LGBTQ-friendly agents who are committed to advocating for your rights throughout the transaction process.
4. Market Conditions: Buyers vs. Sellers
The current housing market is in flux, with inventory levels, interest rates, and demand varying widely by region. Sellers may face longer listing times, while buyers could encounter more competitive environments in desirable areas.
5. Mortgage Updates for LGBTQ Couples
Lenders are becoming more inclusive in recognizing diverse family structures, but disparities still exist. Itās essential to work with lenders who understand your unique situation and ensure fair treatment during the mortgage process.
Advice: An LGBTQ-friendly agent can connect you with lenders who are sensitive to your needs and knowledgeable about programs that support equal access to home financing.
Why These Changes Matter
The new rules emphasize fairness, transparency, and accountability ā values that align closely with the mission of GayRealEstate.com. However, navigating these changes requires expert guidance, especially for LGBTQ buyers and sellers who may face additional challenges in the market.
Take Action Today
Buying or selling a home is one of the most significant decisions youāll make, and having the right support can make all the difference. At GayRealEstate.com, we connect LGBTQ buyers and sellers with experienced, LGBTQ-friendly agents who are committed to protecting your rights and helping you achieve your goals.
Whether youāre just starting your real estate journey or ready to make your next move, weāre here to help. Visit GayRealEstate.com to find your perfect agent and get started today.
This article is brought to you by GayRealEstate.com, the nationās largest network of LGBTQ-friendly real estate agents.
Jeff Hammerberg is founding CEO of Hammerberg & Associates, Inc. Reach him at 303-378-5526.
Real Estate
Your holiday home journey
Real estate decisions often tap into our deeper desires for connection
Thanksgiving and real estate share an essential theme: the importance of home. It is traditionally a time of gratitude, togetherness, and reflection. While its hallmark symbols may include turkey dinners, family gatherings, and autumnal dƩcor, it also invites us to think deeply about our values and who and what we hold dear.
For some people, the family home connotes a place of safety, comfort, and community. For others, visiting with family over the holiday can be a contentious and stressful ordeal best avoided. Countless of my friends have severed toxic relationships that can rival an exploding, deep-fried turkey. They have opted instead for dining out or hosting a gathering of food and football with like-minded people.
During Thanksgiving, the idea of āhomeā becomes particularly poignant. It is more than just a physical structure; itās where people gather, memories are made, and traditions are passed down. For those involved in real estate ā whether as professionals or as individuals embroiled in the market ā this emotional dimension of home is a driving force.
When buying a house, itās not just about square footage or the number of bedrooms. It’s about envisioning a Thanksgiving dinner in the dining room, imagining children playing in the backyard, or hosting friends in the cozy living space. Real estate decisions often tap into our deeper desires for connection, stability, and legacy ā values closely tied to the spirit of Thanksgiving.
Thanksgiving falls in the quieter part of the real estate calendar, with spring and summer being the traditionally hot seasons for buying and selling. Yet, for those who choose to list their homes in November, the holiday offers unique opportunities. Sellers can use Thanksgivingās warm, inviting atmosphere to their advantage, staging homes with seasonal touches like autumn wreaths, a cornucopia of fruits and nuts, the sparkle of a dining room chandelier, and the scent of freshly baked pies.
A well-decorated home during this time can evoke an emotional connection with potential buyers. A cozy environment can help them imagine spending their future holidays in that very space. Additionally, homes listed during the Thanksgiving season often face less competition, as fewer properties are on the market. This can lead to more serious offers from motivated buyers.
For buyers, Thanksgiving can function as a reminder of why they are on the hunt for a new home in the first place. Perhaps they are looking for a bigger space for a growing family. They may be downsizing to retire or to simplify life. They might be looking for home to accommodate both children and aging parents simultaneously. The holiday season underscores the importance of finding a home that aligns with lifestyle needs and future goals.
In our tight real estate market, buyers still face challenges such as limited inventory and higher interest rates; however, Thanksgiving encourages a shift in perspective. Itās a time to focus on gratitude for what is within reach ā whether itās finding a starter home, securing a dream property, or taking incremental steps toward long-term, financial goals.
Interestingly, Thanksgiving weekend has become an increasingly popular time for real estate research. Families can gather around the table and begin discussing the future, including moving to a new city, upgrading their home, or purchasing an investment property. Digital tools like web searches and virtual tours can help buyers and sellers stay connected to the real estate market without disrupting their Thanksgiving traditions.
Whether you are buying or selling, Thanksgiving offers an opportunity to reflect on the role of gratitude in real estate. For buyers, itās about being thankful for the chance to find a home that meets their needs, even if the journey is challenging. For sellers, itās a moment to appreciate the memories made in a home while looking forward to new opportunities.
For real estate agents and other industry professionals, Thanksgiving is a time to express gratitude to clients and colleagues, build stronger relationships, and highlight the human aspect of a business often driven by transactions alone.
If you are staying put this Thanksgiving, you have a chance to celebrate your current home, no matter its size or condition. Simple gestures like decorating with fall colors, rearranging furniture for a cozy feel, or preparing a special meal can deepen your connection to your space. Inviting neighbors, friends, or family to share in the festivities can reinforce the sense of community that makes a house a home.
Whether itās the home you currently have, the one youāre searching for, or the one you are leaving behind, each holds a unique place in your life story. Take stock of the journey so far, recognize the progress made, and look forward to the possibilities ahead.
Real Estate
Who are the people involved in a real estate transaction?
Lenders, agents, inspectors, and more play a role
When buying a house for the first time, people may wonder if their life is going to be like what you see on HGTV or another TV show. Yes, some real estate agents drive nice cars, put photos on social media of beautiful countertops, luscious landscaping, stunning backsplashes, high-end appliances with bespoke details, and price tags that seem like they belong on a television show ā stuff that āvision boardsā are made of.
Real estate can be sexy. There is also the experience of what I call, āthe everyday transaction.ā This is the situation where someone may be the first in their family or friend group to buy a property. Or maybe this is the last one of their friends to buy a home. It could be the person that just got a notice from their apartment community that their rent was going up by $500 a month next year, and they decided it was time to start putting this inevitable amount of money into an investment each month. As my previous broker calls it, homeownership is a āforced savings plan.ā It can be hard to force oneself to save at times, but your rent payment is going into equity. At some point, you can sell the investment and get back the money you put into it. Rent that is $2,400 a month can easily turn into over $115,000 during one presidential term.
The cast of characters in a real estate transaction includes:
ā¢ The buyer agent and the sellerās agent (if the house is for sale by owner, then no seller agent)
ā¢ The lender (mortgage officer) and their team
ā¢ The title company (a company of attorneys and staff to help with the legal aspects of transferring ownership, recording the deed with the municipality or state and transferring water utilities, paying off the old mortgage with the proceeds from the sale, etc.)
ā¢ Any employees of a city or county that might be brought in (e.g. a down payment assistance loan funded by a municipality)
ā¢ A home inspector (if an inspection is requested by a buyer)
ā¢ Any contractors that are brought in for estimates for repairs or work projects.
These are the people that are brought into the transaction to help bring it to completion. A good agent usually has recommendations on title companies and attorneys, home inspectors, lenders, may have contacts with city or county departments for processing permits, etc. and will utilize the network they have built over the years to help coordinate a smooth transaction (as smooth as possible) and result in a happy seller and a happy buyer.
Who you work with matters. If you have more questions about this, please do not hesitate to ask. Yes, real estate CAN be sexy, but you also want competent people working on your behalf, who know how to navigate the process smoothly.
JosephĀ HudsonĀ is a referral agent with Metro Referrals. Reach him atĀ [email protected]Ā or 703-587-0597.