Real Estate
Coldwell Banker to open new Logan Circle office
Flagship location at 14th & Corcoran offers greater visibility
In the coming days, Coldwell Banker Residential Brokerage will open its doors to our new flagship office, located at the corner of 14th and Corcoran. Previously located three blocks to the east, this new location was selected for the greater visibility and connectivity it provides between the office and the community.
Coldwell Banker Residential Brokerage has been a long-standing, contributing member of the Dupont/Logan area. Thirteen years ago, we were pioneers on 17thĀ Street, and weāre once again on the leading edge with our new location on 14thĀ Street. We saw the enormous potential of the area back when we first made the commitment to move more than a year ago. Now, just as we knew it would, the 14thĀ Street corridor is booming.
Shops, restaurants and other service providers have flocked to 14thĀ Street. Our new location is in the heart of it all ā between Le Diplomate and Shinola ā providing ideal convenience for our affiliated agents and their clients. Itās an exciting and thriving place to be, attracting all demographics and creating a wonderfully diverse area in which to live and work.
The location is not the only notable advantage, though. The office space itself has been designed by award-winning architecture firm Clark Nexsen to maximize both aesthetics and functionality. With just over 4,100 square feet, the new space features an āAgent Studioā with communal workspaces, hoteling desks and state-of-the-art technology. This is not an old-school real estate office, but more like what youād expect for the headquarters of a tech start-up.
This modern, open design is possible in large part because Coldwell Banker Residential Brokerage is paperless. Thereās no need for file cabinets and locked offices, because all transaction documents are stored securely online via our HomeBaseĀ® transaction management system. Weāre a tech-driven company, and this new office clearly reflects that.
Perhaps the most important feature of the new space, however, is that it better enables us to give back to this vibrant community. Coldwell Banker Residential Brokerage has always been a committed supporter of local arts and charitable organizations, and the Dupont/Logan office has been specifically designed to enhance that commitment. Three conjoined conference rooms are separated by continuous glass accordion wall partitions that can open completely, creating one dynamic education/event space that flows to a large outdoor patio. With monthly events already on the calendar, Coldwell Banker Residential Brokerage wonāt just be present in the neighborhood ā weāll be part of it.
Additional highlights of the new office include polished concrete floors, 14-foot ceilings, a custom marble reception desk and built-in video wall monitor, designer lighting and furnishings by Steelcase.
The DuPont/Logan office currently has approximately 65 associates, 6 of which were named in The Washingtonian’s Top Realtors for 2015. The office is located at 1617 14th Street NW, and can be reached at 202.387.6180. If you are interested in a career in real estate and would like to be part of this exciting, state-of-the-art work environment, give me a call today.
Kevin McDuffie is branch vice president of Coldwell Banker Residential Brokerageās Dupont/Logan office.
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 itās 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, itās 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 itās important to verify that youāll 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, weāre 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 youāre 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 HammerbergĀ is founding CEO of Hammerberg & Associates, Inc.Ā Reach him at 303-378-5526 orĀ [email protected].
Real Estate
Uncertainty everywhere: the ups and downs of real estate
With rates declining, weāre ready to get off this roller coaster once and for all
Itās an election year, after a once-in-a-century pandemic, and the country has an uncertain future; for many of us, it feels like its own existence is hanging in the balance. With so much uncertainty in the air, few people would think of real estate at this moment, right?
Perhaps. But for a large group of buyers and sellers actually entering the market now, after waiting years for rates to fall, it seems as good a time as any to join the froth of a bubbling market. To be clear, the frothiness is not felt everywhere, nor for every type of home, so once again, uncertainty seems to be the word of the day and the overall mood in the air.
Sept. 19, 2024 was a date that sellers, buyers and most of all Realtors had circled on their calendars, waiting with breathless anticipation as the promise of a Federal Reserve cut in the overnight lending rate (the āprimeā rate) was all but promised by chairman Jerome Powell in the preceding weeks and months. Speculation abounded as to whether it would actually happen though, since Powell had previously promised rate cuts throughout 2022 and āat least threeā in 2023āonly to play the Lucy role with her proverbial football over and over again, never actually reducing rates by even a skosh.
Those in the know would barely venture an optimistic guess as to whether it would truly happen, and the optimistic few that said āthis time, this time it has to happenā would only commit to the cut being a quarter point.
In the weeks before the meeting, mortgage lenders saw that interest rates offered in the open market to consumers actually did fall, which was an indication that market players themselves were more optimistic than the pundits, and had ābaked inā the portended rate cut already.
But when Powell made the announcement, he didnāt just give us the football, he gave us a touchdown ā with a half-point reduction. Realtors rejoiced; sellers said āsell,ā buyers got pre-approved and homeowners considered refinancing, all at the same time.
But when lenders answered calls from would be buyers and refinancers, they had to give the grim news: apparently, the market had baked in too high a rate cut alreadyāand rates actually went UP instead.
So, Lucy turned out to be there all along, not pulling the football back with the hands of Powell, but with the so-called āinvisible handā of market dynamics. Sellers, buyers, and Realtors alike sighed with disappointment, as we then anticipated a season with less froth after all.
All that said, the numbers are actually pretty good in local real estate. While days on market for closed single family homes, condos, and co-ops is up to an average of 23 in Washington, D.C., from their lows of 11 in 2020, median prices this year are actually hovering right near their all-time highs in 2021 of $671,000, down just 0.9% to $664,500.
The resilience of the housing market is buoyed by strong single-family home sales in upper Northwest D.C. which seems to have bidding wars for almost every property; those in the business will certify that condos, especially in more transitional areas, are suffering in the meantime.
Many of our clients with the slower-moving properties are turning to renting them instead, which has caused a higher inventory of rental properties, in turn resulting in some softening in rental prices from their peaks in 2022. So for many sellers, landlords, and agents, this year has felt like a slow one no matter which way we turn.
To navigate these twists and turns of an ever-surprising real estate landscape, it helps to turn to experienced advocates, especially those that have weathered a similar storm before. Our team, for example, has helped our clients through the relatively painless market slowdowns in 2005 and 2007, and of course through the world-changing market crash of 2008, and then the drastically uncertain times during COVID.
From my perspective though, it has been the post-COVID time of high interest rates that is the most challenging of my whole career, and the most frustrating for some of our clients. I think we can all agree that we are ready to get off this roller coaster once and for allāand to not ever want to ride it again.
David Bediz is team leader and a 20-year veteran agent at the Bediz Group, LLC. Reach him via bediz.com or 202-642-1616.
Real Estate
Spooky Pride: Thrifty LGBTQ Halloween decor tips for your rental
Halloween is the perfect time to show off your creativity and embrace both the spooky and fabulous. For LGBTQ renters, itās an opportunity to infuse your space with festive flair that reflects both pride and personality ā without breaking the bank. Whether you’re hosting friends for a ghoulish gathering or simply decking out your apartment for some solo seasonal fun, we’ve got you covered with budget-friendly, LGBTQ-inspired decorating tips that bring glam, style, and inclusivity to your haunted home.
1. LGBTQ Symbols and Colors. Rainbow-Inspired Decorations: Incorporate rainbow-colored string lights, garlands, and flags into the Halloween decor. This can be paired with classic black and orange Halloween colors to create a unique, inclusive aesthetic.
Pride Pumpkins: Paint pumpkins in rainbow or trans Pride flag colors or carve designs like hearts or symbols of equality to mix Halloween with LGBTQ pride.
2. Drag Queen-Inspired Glam. Glitter and Glam: Draw inspiration from drag queens by adding glamor to Halloween decor. Use metallic streamers, sparkling skulls, and shimmery fabrics for a fabulous touch.
DIY Drag Masks: Create or purchase affordable masks with feathers, sequins, and bold colors for a decorative wall or window display, which can also double as party favors.
3. Inclusive Horror Icons. Iconic Figures: Use LGBTQ-friendly horror icons like Elvira, Divine (from āPink Flamingosā), or characters from āRocky Horror Picture Showā in posters or costumes. They add a campy, queer edge to Halloween dĆ©cor.
DIY Posters or Cutouts: Print out photos or posters of these characters and frame them inexpensively to give your apartment a bold statement piece.
4. Thrifty Decorating Tips. Up-cycled Decor: Thrift stores are a great resource for inexpensive Halloween props ā like old frames, candle holders, and vasesāspray paint them black or gold for a spooky and chic feel.
DIY Spooky Lanterns: Repurpose mason jars or old glass containers by placing battery-operated LED lights or tea lights inside. Decorate the outside with stickers or painted-on spooky designs like bats, pumpkins, or cobwebs.
Black Lace on a Budget: Drape black lace or fishnet fabric (found cheaply at fabric stores) over tables or lampshades for an eerie, gothic vibe.
5. Queer-Friendly, Sustainable Alternatives. Eco-Friendly LED Lighting: Encourage the use of LED lights in purple, orange, or green. Not only are they energy-efficient, but theyāre safer for apartments that may have limitations on open flames or outlets.
Plant-Based, Vegan Candles: For a spooky, cozy vibe, suggest plant-based, cruelty-free candles. Opt for scents like pumpkin spice or cinnamon for a seasonal touch without compromising on values.
6. Community Engagement. Collaborative Building Decor: Suggest organizing a building-wide LGBTQ-friendly Halloween decorating contest where neighbors can share resources and collaborate. This fosters community spirit and makes decorating more fun and budget friendly.
Host a Pumpkin-Carving Party: Recommend throwing a pumpkin-carving event, allowing friends and neighbors to come together for a fun, budget-friendly activity.
Halloween is a time to unleash your creativity, and with these thrifty LGBTQ decorating tips, you can transform your rental apartment into a spooky, Pride-filled haven. From rainbow pumpkins to drag queen glam and up-cycled decor, these ideas prove that you donāt need a huge budget to make a big impact.
So, whether youāre hosting a Halloween party or just want to embrace the spooky season with a queer twist, these decorating tips will help you celebrate with flair and Pride. And remember, Halloween is about having fun, being unapologetically yourself, and expressing your unique identityābecause in the end, thereās nothing scarier than not being true to who you are.
Scott Bloom is owner and Senior Property Manager, Columbia Property Management. For more information and resources, visit ColumbiaPM.com.
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