Connect with us

Real Estate

Year of the Millennial

Young buyers value passion, sharing and discovery

Published

on

millennial, gay news, Washington Blade
millennial, gay news, Washington Blade

Young home buyers are all the rage in 2015, according to the National Association of Realtors.

The National Association of Realtors is telling us that 2015 will be the “Year of the Millennial Homebuyer.”

For some of us Boomers, just the whisper of the word Millennial is enough to have us breaking out in a cold sweat and barricading ourselves inside the nearest assisted living facility. We are often dazed and confused by the very sons and daughters who have set up housekeeping in our basements.

As I read articles about marketing to Millennials, brush up on the latest technology and watch my younger clients in pursuit of home ownership, I am struck by how similar our values really are.

Boomers are said to value justice, integrity, family, practicality and duty. These qualities are honorable and critical for a society to function, but they don’t really make us sound like a bunch of fun-loving, creative, folks who are going to conquer the world, do they?

On the other hand, Millennials, we’re told, value happiness, passion, diversity, sharing and discovery. Are these values really so different from chants of, “If it feels good, do it” and “Make love, not war” or support of civil rights and women’s rights, communal living and the technological advancements of the ‘60s that spawned the Internet and were part of my cultural heritage?

There are plenty of differences, of course.

Where I took on debt as a way of life (“There’s nothing I can’t afford!”), their debt is more likely to be from educational pursuits than from the purchase of expensive toys.

Where I took calculated financial risks (“The greater the risk, the greater the reward!”), they are more conservative and judicious with their funds, preferring not to overspend on a home so they have opportunities to enjoy the things in life that fuel their passions and make them happy.

Where I relied primarily on the counsel of industry professionals for major purchases, they have volumes of information literally at their fingertips through the Internet, social media and web reviews, making them extremely savvy consumers.

In a world where the average real estate agent is 56 years old and Millennial buyers are predominantly in their mid-20s to mid-30s, we can easily fall into a quasi-parental role. (And what Boomer ever wanted to be told anything by their parents back in the day?)

To avoid that, we need to be mindful of three guiding principles.

It’s all about the experience. When I lived overseas I used to travel frequently. Sometimes I had a specific agenda and sometimes I went somewhere just to be able to say I’d been there. My own age group never understood the concept of travel without a purpose, just for the experience.

My Millennial clients are concerned about the overall home buying experience. The right agent can make it efficient, customer-oriented and fun. The wrong one can end up with a horrible Yelp review.

Don’t dictate, educate. Although these clients may be the same age as our own children, we must remember that they are adults, capable of making their own decisions given the appropriate education about the financial, procedural and emotional aspects of buying a home.

They come to us with a pretty clear picture of what they want and why, but I find that we still need to provide additional information to both enhance and counteract what they have learned online, especially if we have to illustrate that HGTV does not mirror real life.

Communication is easier than it seems. I bought my first computer in 1989, a pager in the mid-90s and a cell phone in 1997. Since then, I have eFaxed, DocuSigned, Dotlooped, Facebooked and even Skyped a few times.

I have certainly tried to keep up with the Joneses, or more accurately, the Joneses’ grown offspring, but have found that the simplest way to communicate with Millennial clients is to ask which method they prefer and then use what they suggest. Problem solved – for the most part.

Where I’m still struggling is with voicemail, which seems to be fading from use. The part of my upbringing that says it’s polite to leave a message for someone who is unavailable is hard to shake.

So while we’re waiting to see if the NAR is right about the homebuyers of 2015, I encourage our seasoned agents to learn more about the needs and values of our younger clients. I also invite Millennials to continue to educate us about ways in which we can provide exceptional customer service.

Just leave me a voicemail with your thoughts.

 

Valerie M. Blake can be reached at 202-246-8602 or [email protected]. Each Keller Williams Realty office is independently owned and operated. Equal Housing Opportunity.

Advertisement
FUND LGBTQ JOURNALISM
SIGN UP FOR E-BLAST

Real Estate

Pride, patriotism, and prosperity

Real estate plays role in honoring servicemembers’ legacy

Published

on

(Photo by 1photo/Bigstock)

As the calendar turns to late May and early June, several powerful movements and celebrations converge in a profound and colorful tapestry of remembrance, Pride, and progress. 

Memorial Day in the United States honors the sacrifices of military personnel who gave their lives in service. Simultaneously, WorldPride and Black Pride commemorate both the historical struggles and enduring strength of LGBTQ+ communities worldwide. 

Though these observances may seem distinct, they share powerful commonalities — solemnity, resilience, and the pursuit of equity. When viewed through the lens of real estate and community development, their intersection reveals the critical importance of space, ownership, and inclusion.

Memorial Day is more than a barbecue, a long weekend, or the unofficial start of summer. It is a solemn remembrance of those who laid down their lives for the ideals of freedom and democracy. Many of these fallen heroes came from marginalized backgrounds, including a rainbow of LGBTQ+ Americans who served valiantly, often without recognition or equal rights at home.

LGBTQ+ service members have fought in silence for decades, only gaining the right to serve openly in recent years and then having that opportunity for some individuals snatched back simply because of who they are. Memorial Day is a chance not only to honor their service but also as a reminder of the injustices they endured.

Real estate plays a role in their legacy. For decades, returning veterans used the GI Bill to buy homes and build generational wealth; however, discriminatory practices like redlining and restrictive covenants denied Black veterans the same opportunities, contributing to the racial wealth gap that persists today. Similarly, LGBTQ+ veterans and their partners often faced housing discrimination with little legal recourse. These systemic barriers underscore how access to safe and equitable housing is part of the fight for justice.

Black Pride events emerged in response to racism within the broader LGBTQ+ movement, asserting that Black queer lives matter and deserve visibility. Held in cities across the globe, Black Pride is not just a festival — it is a political and cultural declaration. It amplifies voices at the intersection of race and sexuality, advocating for people who are disproportionately impacted by housing insecurity and gentrification. 

Many urban neighborhoods that were once cultural havens for queer communities are being transformed by rising rents and redevelopment. While revitalization can bring economic opportunity, it must be done equitably, with safeguards in place to ensure that long-standing residents are not displaced. Real estate, in this context, becomes a tool for resistance and renewal.

WorldPride, a global event celebrating LGBTQ+ rights and visibility, is hosted by a different city every few years. It draws millions of participants, shines an international spotlight on LGBTQ+ issues, and highlights disparities in rights and protections worldwide. In countries where queer identities are criminalized, safe housing can be a matter of life and death. 

Even in more progressive regions, LGBTQ+ individuals often face subtle yet persistent discrimination from landlords, real estate agents, and lending institutions. In the real estate industry, advocacy groups are working to increase representation, offer training, define ethical responsibilities, and advocate for inclusive policies to ensure housing is truly accessible to all.

The convergence of WorldPride with Memorial Day and Black Pride invites deeper reflection: What kind of world are we building in memory of those who came before? How can we ensure that freedom, the very principle so many fought and died for, includes the right to live openly and securely, regardless of race, gender, or sexuality?

The real estate industry has a unique role in shaping the future. From urban planning to homeownership policy, to income-based downpayment grants, it directly influences who has access to stability and opportunity. 

Developers, policymakers, and community leaders must work together to address housing disparities. This includes funding affordable housing, protecting tenants from discrimination, and investing in communities that have been historically excluded. It also means respecting cultural legacies and ensuring that neighborhoods reflect the diversity of the people who live in them.

Memorial Day reminds us of the cost of freedom. International Pride events remind us that the fight for freedom is ongoing. As we honor the fallen, let us also honor the living – those who continue to fight for their right to exist, to love, and to call a place home. Whether waving a flag at a Pride parade, laying a wreath at a soldier’s grave, or signing a first-time homebuyer agreement, these moments are connected by the enduring belief that everyone deserves dignity, safety, and a place to belong.

Valerie M. Blake is a licensed Associate Broker in DC, MD & VA with RLAH @properties. Call or text her at (202) 246-8602, email her at DCHomeQuest.com, or follow her on Facebook at TheRealst8ofAffairs

Continue Reading

Real Estate

Tips for buying a house in Rehoboth Beach

And why it’s a great fit for the LGBTQ community

Published

on

Rehoboth Beach, Del. (Washington Blade photo by Daniel Truitt)

If you’ve ever dreamed of owning a charming beach house where flip-flops are considered formalwear and sunsets are your daily entertainment, Rehoboth Beach, Del., might just be your dream come true. It’s not just a beautiful coastal town—it’s also a long celebrated safe haven and vibrant hub for the LGBTQ community. Let’s dive into why Rehoboth Beach is a fabulous choice and how to make a savvy beach house purchase.

Why Rehoboth Is a Vibe (especially for the LGBTQ community)

1. A Welcoming, Inclusive Community

Rehoboth Beach has been lovingly nicknamed the “Nation’s Summer Capital,” and it’s not just because of its proximity to D.C. For decades, Rehoboth has built a reputation as a warm, inclusive, and LGBTQ-friendly destination. From gay-owned businesses to LGBTQ events and nightlife, this is a town where you can truly be yourself.

2. Packed Social Calendar

Poodle Beach, the LGBTQ beach hangout just south of the boardwalk, is always buzzing in the summer. Events like Rehoboth Beach Bear Weekend, Women’s FEST, and CAMP Rehoboth’s myriad of social and wellness events bring people together all year round. That’s right—you’ll never be bored here unless you want to be.

3. Small Town Charm Meets Big City Culture

You get art galleries, drag brunches, live theater, eclectic cuisine, and adorable boutiques—basically everything your soul craves—without the chaos and crowds of major cities. It’s quaint but never boring. Think: Key West vibes with a Delaware zip code.

Tips for Buying Your Dream Beach House 

1. Know Your Budget and Think Long Term. Beachfront and near-beach properties come at a premium. Expect to pay a bit more for proximity to the sand and ocean views. 

2. Choose Your Neighborhood Wisely. Do you want to be walking distance from the action on the boardwalk? Or do you prefer something more secluded in areas like North Shores or Henlopen Acres?

3. Rental Potential. If you’re not living there full time, your beach house could work overtime as a vacation rental. Rehoboth Beach has a healthy short-term rental market, especially in peak summer. Often times LGBTQ travelers actively seek inclusive, affirming places to stay.

4. Weather the Weather. Like all coastal areas, Rehoboth comes with a side of salt air and occasional storms. Invest in a good home inspection, especially for older homes, and be prepared for the maintenance that comes with beachfront living (yes, that includes sand everywhere).

5. Work With a Local Real Estate Agent. Look for an agent who knows Rehoboth inside and out and understands the unique needs of LGBTQ buyers. This isn’t just a house — it’s your happy place. You want someone who sees that and says, “Let’s find your sanctuary.”

Buying a beach house in Rehoboth Beach isn’t just about real estate — it’s about finding a space that reflects your lifestyle, values, and need for both community and calm. Whether it becomes your full-time home, your weekend escape, or your Airbnb side hustle, Rehoboth welcomes you with open arms (and maybe a mimosa).

Want personalized tips on navigating the Rehoboth Beach real estate market? Let’s chat! I’ll bring the listings if you bring the sunscreen. 


Justin Noble is a Realtor with The Burns & Noble Group with Sotheby’s International Realty, licensed in D.C., Maryland, and Delaware. Reach him at [email protected] or 202-234-3344.

Continue Reading

Real Estate

Impact of federal gov’t RIF on D.C.’s rental market

A seismic economic change for local property owners

Published

on

President Trump’s plan to cut the federal workforce presents challenges to local landlords. (Washington Blade file photo by Michael Key)

In a move that could redefine the federal government workforce and reshape the economic fabric of Washington, D.C., President Donald Trump has announced his intentions to significantly reduce federal government spending as well as the number of people the federal government employs.

Calling the federal bureaucracy “bloated” and “out of control,” Trump has repeatedly expressed his desire to cut thousands of federal jobs. While these cuts align with his long-standing push to “drain the swamp,” they come with potential and real collateral damage, especially for landlords in the D.C. area who have relied on government employees as some of their most reliable and long-term tenants.

The potential reduction of thousands of jobs in a city built around government work is not just a political shift—it’s a seismic economic change for the city government as well as for local property owners who have invested in the predictability of a near-constant demand for workers in the federal government agencies, government contractors and the economic ecosystem they sustain. 

For landlords, government workers have represented ideal tenants: strong income, long-term leases, and responsible rental histories. Now, that foundation is being shaken in a battle by the Administration against a workforce which is the backbone of the Washington area’s overall economy, and especially its rental market.

With uncertainty looming, landlords are left in a difficult position. If widespread layoffs come to fruition, rental vacancies could spike, rental prices would drop, and previously secure investment properties might become financial liabilities. The sudden shift forces landlords to consider their next moves: how to support tenants facing job losses, how to adapt to a changing market, and how to ensure their own financial stability amid the uncertainty.

For D.C. landlords, this isn’t just about policy shifts or budget cuts, it’s about economic livelihood. The challenge ahead isn’t about just reacting to change, but proactively preparing for it, ensuring they can weather the storm of political maneuvering.

Potential Consequences for D.C. Landlords

  1. 1. Increased Risk of Non-Payment of Rent
    • Job losses may lead to late or missed rent payments
    • As affected tenants struggle financially, they may ask to break their lease to live elsewhere or even move out of the region
    • Eviction lawsuits may rise, leading to a long and expensive process for landlords, all while not being able to rent their property to paying tenants.
  1. 2. Higher Vacancy Rates
  1. If many government employees leave the D.C. region in search of work elsewhere, the rental demand could decline significantly
  2. Rental properties may sit empty longer, requiring landlords to lower rents to attract new tenants and creating even more financial loss

3. More Competition from Other Landlords

  1. As many more units are vacant on the market, all competing for the same pool of potential tenants, older and smaller rentals, and those located further out from the core of the city will all struggle to find quality renters.
  2. Landlords will need to offer other ways to attract and retain tenants, such as incentives, which could quickly overwhelm the finances of smaller landlords who cannot keep up.

Proactive Strategies for Landlords

To mitigate risks and ensure future rental success, landlords should consider these defensive measures:

1. Strengthen Tenant Relationships and Communication

  • Encourage tenants to communicate if they anticipate financial hardship due to job loss.
  • Work out temporary payment plans or partial payments to prevent full non-payment or eviction.
  • Provide guidance on rental assistance programs available in D.C.

2. Offer Flexible Lease Terms

  • Consider shorter-term leases than a full 12-month term to accommodate the needs of tenants who may be uncertain about their long-term employment status.
  • Offer lease renewals at the same rent amount to keep stable tenants and avoid turnover

3. Diversify Tenant Base

  • If a large portion of tenants are government workers, a landlord may want to market to a broader audience or professionals in private industries.
  • Advertise on platforms that cater to diverse tenant pools, including students and international workers.

4. Adjust Screening Criteria Thoughtfully

  • While it’s important to ensure financial stability, consider creditworthiness, assets, and rental history rather than just employment status.
  • Consider alternative income sources, like family members assisting, part-time work or freelance gigs.

5. Protect Cash Flow with Rent Guarantee Options

  • Explore rental insurance policies or rent guarantee services to cover losses in case of non-payment.
  • Consider co-signers or guarantors on leases for new tenants in vulnerable industries, just in case.

6. Adjust Rental Pricing to Stay Competitive

  • Monitor the D.C. rental market and adjust pricing accordingly to attract new tenants.
  • Consider offering move-in incentives as a way to stand out.  Be creative!  Sometimes things you can offer are different and may catch someone’s eye

Long-Term Planning for Rental Success

  • Build reserves to cover expenses during potential vacancies or rent shortfalls.
  • Invest in property upgrades to make rentals more attractive to a broader audience, such as young professionals or remote workers.
  • Consider diversifying property holdings to include areas that are less reliant on government employment.

By taking proactive steps, landlords can safeguard their investments while supporting tenants through economic uncertainty, ultimately leading to a more stable and resilient rental business.


Scott Bloom is owner and senior property manager at Columbia Property Management. For more information, visit ColumbiaPM.com.

Continue Reading

Popular