Connect with us

Real Estate

An exercise in compromise

When buying a home, make a wish list, then edit

Published

on

homeownership, gay news, Washington Blade

You may dream of a giant home in the ‘burbs, but what does your budget allow?

“I can’t afford much. Will you still work with me?”

When I hear this from potential buyer clients it makes me a little bit sad, knowing that they’re usually asking that question because another agent has said no.

Of course, not every agent can be all things to all buyers. Some agents will specialize in a neighborhood and others in a price range, a type of property, or a buyer category such as first-time, move-up, or luxury. There are also agents who choose to list homes and not work with buyers at all – and there’s absolutely nothing wrong with that. You just need to connect with the right one.

The Greater Capital Area Association of Realtors (GCAAR) reports that the median sales price in D.C. in August 2017 was $694,000 for a house and $455,000 for a condominium. If your budget is well below that, then you might believe homeownership is just not for you. But don’t dismiss it without investigating.

Like most urban dwellers of today, you probably want to be in an area where you can walk to shopping, dining and transportation. The reality is that it’s unlikely you will get everything on your wish list, but if you’re willing to compromise on property size, type, location, or amenities, then you may well succeed in securing a home that suits your lifestyle for a purse-pleasing price.

Let’s say, for example, that you’re a single person buying your typical first home in the DMV. In most cases, it will be a one-bedroom condominium of 550-650 square feet.

Based on GCAAR sales statistics from 2017, you can spend as little as $65,000 in Congress Heights, an area in Southeast D.C. that has a Metro stop on the green line. In Dupont Circle’s West End, however, that same condo can cost you as much as $525,000.

Go across the water to the City of Alexandria and you can spend a mere $110,000, but look out for high condo fees that may vastly increase your monthly payments. Farther west in Arlington, that same square footage will cost $115,000 on the south side and as much as $465,000 on the north side.

Prefer Maryland? You can sometimes find an older condo in Silver Spring or Gaithersburg for under $100,000 and if you’re lucky, you may end up with a renovated unit in Bladensburg for less than $50,000. Even in Bethesda on Woodmont Avenue surrounded by restaurants, you can cap your spending at $360,000 with a monthly fee less than $500.

When it’s time to move up to a townhouse (or rowhouse for the DC-ites among us), expect to shell out more for an additional 500-1000 square feet.

In the Randle Heights subdivision of Southeast D.C., a 1,300-square-foot, two-level end unit with two bedrooms and two baths sold this spring for $334,000, whereas a similar home in Georgetown garnered $950,000.

A three-bedroom, 1,200 square foot townhouse near Duke Street in Alexandria may cost as little as $360,000 and on the other side of the Beltway, new construction in Upper Marlboro can start as low as $300,000.

In Greenbelt, Md., you might add builder upgrades to a new townhouse with a garage and still pay less than $475,000, and if you’re OK commuting from Clarksburg or Germantown, you might pay $50,000 less.

And what if price is no object?

Well, for eight figures in Northwest D.C., you just missed a home with nine bedrooms and 11 baths for your live-in housekeeper to clean.

Alexandria offered an estate on two acres with 5 bedrooms, 5 baths and tennis courts for just over $3,000,000 this year and Arlington seemed almost budget-friendly with the sale of 8,000 square feet of splendiferous Craftsman architecture for a mere $2,500,000.

You could also have yodeled to your heart’s content in a 33,000-square-foot grand residence in Potomac, provided you had $6 million to buy it and had at least that much set aside to finish what the builder had failed to complete.

And for the best bang for your megabucks, a Bowie home featuring 15,000 square feet on nearly three acres, with a four-car garage, a pool, theater room, billiard room and every imaginable luxury could have been yours for – drumroll please – $1,325,000.

So, if you have been considering buying a home on a tight budget, go ahead and make your wish list, then choose an agent who can be your Tim Gunn mentor and help you edit it and make it work. Happy house hunting!

 

Valerie M. Blake is a licensed Associate Broker in D.C., Maryland and Virginia and Director of Education & Mentorship at Real Living| At Home. Call or text her at 202-246-8602, email her at [email protected], or follow her on Facebook at TheRealst8ofAffairs. 

Advertisement
FUND LGBTQ JOURNALISM
SIGN UP FOR E-BLAST

Real Estate

Rental housing discrimination and you

There are many ways landlords can disadvantage LGBTQ renters

Published

on

Housing discrimination based on sexual orientation and gender expression is illegal in the District of Columbia. This means that housing providers cannot refuse to rent to someone or treat them differently in their housing-related decisions because of their sexual orientation or gender expression. 

But what might housing discrimination against LGBTQ home seekers look like?

Discriminatory treatment can occur at a number of stages in the home rental or purchase process, including when scheduling rental (or sales) showings, during a tour of the property, or during the application or post-application process. 

But discrimination may also occur while you are living in a rental home. Today’s discrimination may not be as blatant as an outright rejection or a snide remark about a protected category. There have been incidents of discrimination based on sexual orientation and gender expression discrimination cited in rental housing disputes and lawsuits.

Some of these include landlords refusing to rent or renew leases to LGBTQ tenants; harassment of LGBTQ tenants by landlords or from other tenants; imposing different rental terms and conditions; failing to provide necessary repairs or maintenance to a rental unit where LGBTQ individuals reside (while other non-LGBTQ tenants receive prompt service); as well as failing to take action against other parties who engage in discriminatory behavior toward the LGBTQ tenants.

But there is good news.

Housing industry leaders are actively working to eliminate these instances of discrimination in housing. Both at the national level through the National Association of Realtors (NAR) and at the local level through the Greater Capital Area Association of Realtors (GCAAR) association leaders are working with real estate professionals such as licensed sales agents, brokers, and property managers to improve understanding and sensitivity. Their overall promotion of Diversity, Equity and Inclusion (DEI) includes a substantial component surrounding sexual orientation and gender expression.

Christine Barnhart, Vice President of Strategic Communications at GCAAR told us, “We are doing our part to identify opportunities for diversity and inclusion conversation and education, and to promote the practice of inclusion and equity among our leadership, members, staff and within the industry.” GCAAR seeks to drive a larger conversation around DEI In addition to their “DEI Champions” program, providing a summary of their larger DEI initiatives can be found on their website.  

That education of the key industry players is being delivered through a variety of initiatives and updates to codes and policies. Barnhart points out that the programmatic elements of the training being done keep their members up to date, GCCAR’s ‘DEI Champions’ program features three key diversity training elements:

  1. “Completion of the six-hour ‘At Home With Diversity’ (AHWD) certification course
  2. “The National Association of Realtors (NAR) ‘Fairhaven fair housing simulation,’ and
  3. NAR’s Bias Override: Overcoming Barriers to Fair Housing video.”

I took this certification course and found it very helpful. My original inspiration to become a GCAAR DEI Champion was to augment my service to the community. Now having been through the course, I’m better enabled to “put myself into others’ shoes.” I gained a stronger awareness of how each of us possesses inherent biases. And the program made me more authentically aware of the impact of my comments, my decisions, and my actions on others.

Similarly, the District of Columbia provides ethical codes and regulations for housing providers here in the city to address discrimination based on sexual orientation and gender expression. For example, D.C.’s Office of Human Rights (OHR) has implemented guidelines and training programs for landlords and property owners to ensure they are aware of their obligations under anti-discrimination laws.

These regulations, industry guidelines, ethic codes, and best practices all help to make the D.C. rental housing market more inclusive and welcoming than other jurisdictions for all individuals, regardless of their sexual orientation or gender expression,. However, if you feel that you have been a victim of discrimination, there are many agencies to turn to.

  1. Equal Rights Center – a civil rights organization that identifies and seeks to eliminate unlawful and unfair discrimination in housing, employment, and public accommodations in Greater Washington, D.C. and nationwide.
  2. D.C. Office of Human Rights – The District of Columbia Office of Human Rights enforces local and federal human rights laws, including the D.C. Human Rights Act, by providing a legal process to those who believe they have been discriminated against.
  3. Whitman-Walker Health – A non-profit organization that provides legal services, including assistance with housing discrimination cases, to the LGBTQ community in D.C.
  4. National Center for Transgender Equality – A national advocacy organization that works to advance the rights of transgender people, including those experiencing discrimination in housing.
  5. The DC Trans Coalition – A community-based organization that works to advance the rights and well-being of transgender and gender non-conforming individuals in the District of Columbia.
  6. Pride Center of the Capitol Region– A community center that offers a variety of resources and support for the LGBTQ+ community in D.C., including assistance with housing discrimination cases.

As a gay-owned business and long-term member of the Equality Chamber of Commerce, it is important to me that all who interact with me and my companies feel welcomed and taken care of, particularly the LGBTQ community.  Building on the foundation of the DEI courses, our firm will work to educate our staff and reinforce a culture of understanding and acceptance.  How about yours?

Scott Bloom is senior property manager and owner, Columbia Property Management. For more information and resources, go to ColumbiaPM.com.

Continue Reading

Real Estate

The art beneath your feet

Select rugs that reflect your personal style

Published

on

Let the art under your feet reflect your personality and style, and enjoy it for years to come.

Buying art for your new home can be both fun and an investment for the future. You can scour local galleries, visit antique stores, or buy paintings and posters online. Sometimes, you’ll even find local artisans displaying their work on the walls of real estate offices.

When it comes to a budget for art, the sky’s the limit. From original oil or acrylic paintings to clay or marble sculpture, to lighting of Chihuly glass, there is much to choose from. Even street art and painted murals can bring joy to accent walls.

Personally, I have a fondness for contemporary lithographs in primary colors and Blenko glass, but no matter what your taste, you may find art you love right beneath your feet in carpets and rugs that enhance your décor. Before you choose a rug to anchor your furnishings, determine what it’s made of and how it will work in your space.

Near the top of your budget, you’ll find pure wool rugs. They stand up well to high-traffic areas like living rooms and feel cozy beneath your feet. Good at repelling water and dirt, they can be hand-knotted or loomed and may have fringed edges.

Natural fiber rugs made of jute, seagrass, and sisal work well on their own or as an underlayment for other rugs. While inexpensive, you may find that they shed fibers, so using a rug pad under them will keep those fibers from scratching your floor.

An animal hide rug often serves as a statement piece, with each being as unique as the animal from which it came. Thankfully, you can now obtain the same look with synthetic hides with natural coloring or even dyed in bright hues.

Cotton rugs, braided or hooked, provide a more casual look for less. Many are machine washable, but they fade easily, especially if used in areas of direct sunlight or high traffic. They are also slippery when used on hard floors, so be sure to place a rug pad beneath them.

Most wall-to-wall carpet and bound area rugs today are made of synthetic fibers such as polyester and nylon. Since these machine-woven beauties often mimic real wool and there are plenty to choose from, they are generally the most affordable.

Silk rugs are best in low traffic areas where there is little chance of pet accidents or spills. You may also see them hung on walls in lieu of paintings. These rugs will require professional cleaning and are among the most expensive offerings. In addition to the Persian and Oriental styles, you can now find more modern designs made of silk.

Another thing to consider is whether you want an eco-friendly or non-toxic rug. Determining which is which can sometimes be confusing. While eco-friendly refers to a product that is healthy for the environment, a non-toxic rug made without potentially harmful chemicals focuses on the health of people.

Always read the label of a rug that you are considering purchasing. Rugs made of olefin, polyester and nylon are created through chemical processes. Flame retardant and water repellant coatings can be toxic. Natural materials may have been sprayed with pesticides. Even dyes and rubber backings may contribute to an unhealthy home.

Several rug manufacturers advertise their products as non-toxic, including FLOR, Safavieh, Lorena Canals, and Hook & Loom. If you can’t find a non-toxic rug you like, you can minimize the effect of chemical treatments and odors by allowing your rug to off-gas outside or by leaving a light coating of baking soda on it overnight before vacuuming.

Next, think about the size and shape of your new rug. Will there be at least 3 inches of rug behind the front legs of your furniture as suggested by Martha Stewart? Do you have an apartment or condominium that requires a certain percentage of hard flooring be covered? Do you want to soften the edges of a room by using a round or oval rug or will you need a runner for hall or stairs?

The style, pattern, and texture of your rug will determine whether it simply muffles noise or becomes a favorite piece of art. Try a modern shag or an antique dhurrie. Layer several silk rugs on top of each other. Select a bold chevron, an Ikat pattern, or a mid-century Mondrian vibe.

Embrace color with an abstract Bohemian or choose a floral, stripe, or sculptured, tone-on-tone rug. You can also let your creative juices flow by designing a custom piece.
Whatever you choose, let the art under your feet reflect your personality and style, and enjoy it for years to come.

Valerie M. Blake is a licensed associate broker in D.C., Maryland, and Virginia with RLAH Real Estate / @properties. Call or text her at 202-246-8602, email her via DCHomeQuest.com, or follow her on Facebook at TheRealst8ofAffairs.

Continue Reading

Real Estate

How does offer strength factor into a real estate transaction?

Buyers consider price, contingencies, timeline

Published

on

As we enter the spring market, it might be a good time to review what makes someone’s offer to buy another’s home competitive or not.

At various times in the housing market, we have seen where the need for a buyer to write a very competitive offer has been crucial to “win” the offer and to purchase the desired home. If a seller receives six offers for their home, they will usually pick one that makes it easier for themselves in the transaction. At other times, and in other scenarios, a buyer can ask for more agreeable terms from their perspective.

Usually there are about three categories that buyers and sellers focus on when they are crafting and reviewing an offer. These categories are PRICE, CONTINGENCIES, and TIMELINE. There are various ways to address each of these factors:

PRICE
Above the asking price
At the full asking price
Below the asking price

CONTINGENCIES
NO financing contingency vs. Conventional or FHA financing contingency
NO inspection contingency vs. home inspection and seller credits or repairs
NO appraisal contingency vs a home appraisal contingency

TIMELINE
2-3 week closing period
4 week or 30-day closing period
45-60-day closing period

There are ways to structure your offer where you may have a combination of the three factors above. I have written offers where the buyer waives the home inspection contingency, but keeps the financing contingency, and agrees to close in 21 days or 30 days. Some offers have been written with the most competitive of all three terms, and some offers for less competitive terms in all three categories.

How does one decide how to structure their offer? Well, that’s where the agents come into play, and find out from each other what the seller and buyer are both aiming to gain out of the situation. Does the seller want the full price, but doesn’t mind if the closing happens in 45-60 days? Does the seller want a quick close but doesn’t necessarily need the full asking price? Maybe the seller is under contract to buy another home and needs to access their equity in a few weeks. Maybe the buyer wants some repairs done but will just take a credit from the seller or a reduction in sales price.

It’s usually a good rule of thumb to work toward a “win-win” situation for the buyer and the seller, to keep things moving smoothly. Have more questions? Shoot me an email and let’s talk.

Joseph Hudson is a Realtor with the Rutstein Group of Compass. Reach him at 703-587-0597 or [email protected].

Continue Reading
Advertisement
Advertisement

Sign Up for Weekly E-Blast

Follow Us @washblade

Advertisement

Popular