Real Estate
What property should I purchase if I’m not sure how long I’ll be in D.C.?
Row homes, English basements and more options abound
Great question! If you are looking at real estate as an investment – two great property types to look at would be a smaller row home and also a row home that has an English basement. Some property types that you might want to stay away from would be a condo or a co-op unit. Let’s take a look at why these properties would be good and bad:
Smaller Row Home
Row homes are a great investment for many reasons. You can often find smaller two-bedroom row homes in the same price point as those of a two-bedroom condo, which might be seen as a “condo alternative” and afford you much more freedom. There are no condo associations or home owner associations that you must belong to so this keeps your monthly carrying costs on the lower end and you are allowed to make more independent decisions. For example, if you wanted to paint the house purple – in most cases you would be allowed to. If you wanted to change the color of the front door or put shutters on the windows – you would be allowed to. This is usually not the case with condo or co-ops.
When it comes to the rental market – similarly renters like the independence of privacy in a home and not being among many other people. The luxury of perhaps direct off-street parking, outdoor space or even just more space at the same rental amount that a two bedroom condo rent would be – this is more appealing for a renter and would likely rent faster than that of a condo or co-op. For this model – you would obviously need to move out before you could take advantage of the investment of this type of real estate.
A row home with an English basement
With this type of real estate you can immediately begin receiving income after your purchase. You can occupy the upstairs of the row home, which is usually the larger portion of the home, or you could even occupy the basement, which is usually the 1-2 bedroom smaller portion of the home and receive rental income for the other half of the home. This can be in the way of a yearly traditional tenant or in the manner of short-term rentals (check with the most recent STR policies within the District). With this model, you stand to make even more of a return on your investment upon your move out of the home as you can rent the entire home or you can rent the top unit and basement unit independently to gross a larger amount of income. It is important to note that it is never advised to purchase a row home unless you can fully afford it WITHOUT the idea of accepting additional rental income to offset the mortgage cost.
These two options listed above are the most typical found within the District because they are fee simple, standalone pieces of real estate and are not within a condo association, HOA, or a co-op with governing documents that tell you what you can and cannot do which makes row homes an attractive type of real estate for a long-term hold.
When looking at types of properties that you might want to stay away from – condos and co-ops come to mind and I say this with a caveat. You can surely purchase these types of real estate but must first understand the in’s and out’s of their governing documents. Condos are bound by the governing condominium documents which will tell you for how long your lease must be, a minimum of lease days, you can only rent after you have lived in the residence for a number of years, likely will stipulate no transient housing – which means no short term rentals. It could also quite possibly say that you can only rent for a specific amount of time and lastly it will also stipulate that only a specific amount of people can rent at one time in order to stay below the regulated lending requirements set forth by Fannie and Freddie Mac. Similarly, Co-ops are even more strict – they can tell you that you are just not able to rent at all or if you can you can only do so for a specific number of years and then you are required to sell or return back to the unit as your primary residence.
As you can see, when it comes to condos and co-ops there are more specific and stringent bylaws that owners must agree to and follow that limit or even outlaw your ability to rent your piece of real estate. When you purchase a row home – there are no regulations on what you can and cannot do regarding rentals (outside of the short-term regulations within the District).
When looking for a piece of real estate in the District it is important to think through how long you could possibly wish to hold onto this property and what the future holds. If you think this is a long-term hold then you might consider a row home option – again, you can find a smaller two-bedroom row home that amounts to that price similar to a two-bedroom condo and would afford you a more flexible lifestyle. It’s important to work with a real estate agent to ensure that they guide you in this process and help answer any questions you might have. It’s also always advised to speak directly to a short-term rental specialist should you wish to go down that route as they will truly understand the in’s and out’s of that marketplace.
All in all, there are specific property types that work for everyone and within the District we have a plethora of options for everyone.
Justin Noble is a Realtor with Sotheby’s International Realty licensed in D.C., Maryland, and Delaware for your DMV and Delaware beach needs. Specializing in first-time homebuyers, development and new construction as well as estate sales, Justin provides white glove service at every price point. Reach him at 202-503-4243, [email protected] or BurnsandNoble.com.
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, we’re 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 you’ll 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 you’re 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 they’re 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 you’ll 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 state’s 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. It’s 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 — 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 you’ll 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 you’re just starting your real estate journey or ready to make your next move, we’re 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 nation’s 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 décor, 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 “home” becomes particularly poignant. It is more than just a physical structure; it’s where people gather, memories are made, and traditions are passed down. For those involved in real estate — whether as professionals or as individuals embroiled in the market — this emotional dimension of home is a driving force.
When buying a house, it’s 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 — 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 Thanksgiving’s 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. It’s a time to focus on gratitude for what is within reach — whether it’s 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, it’s about being thankful for the chance to find a home that meets their needs, even if the journey is challenging. For sellers, it’s 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 it’s the home you currently have, the one you’re 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 – stuff that “vision boards” are made of.
Real estate can be sexy. There is also the experience of what I call, “the everyday transaction.” 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 “forced savings plan.” 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:
• The buyer agent and the seller’s agent (if the house is for sale by owner, then no seller agent)
• The lender (mortgage officer) and their team
• 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.)
• Any employees of a city or county that might be brought in (e.g. a down payment assistance loan funded by a municipality)
• A home inspector (if an inspection is requested by a buyer)
• 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.
Joseph Hudson is a referral agent with Metro Referrals. Reach him at [email protected] or 703-587-0597.
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