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Optimism prevails among minority business owners: survey

Entrepreneurs faced a Goliath during pandemic and won

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(Photo by treeratw/Bigstock)

(StatePoint) ā€” Even as minority business owners face new economic challenges, including supply chain disruptions and inflation, results from PNCā€™s recent Economic Outlook survey show an impressive resiliency and positive mindset among these business leaders, according to Marshalyn Odneal, national sales executive for Minority Business at PNC Bank.

According to PNCā€™s survey, more than two-thirds (68%) of minority business owners feel highly optimistic about the prospects of their own company in the next six months, compared to just 60% of non-minority-owned businesses.

While business owners as a whole remain cautious about the national economy, the gap between optimism among minority business owners for their own company versus the broader U.S. economy is 40 percentage points, significantly higher than the 31-point difference among non-minority owners.

ā€œI have no doubt that minority business owners who were able to manage through the pandemic had to make unprecedented decisions related to staffing, business models and pricing. In doing so, they faced a Goliath ā€“ and won. Itā€™s unsurprising that their mindset about the future of their businesses, despite current economic challenges, is optimistic,ā€ Odneal said.

According to PNCā€™s survey, 65% of Black- and Hispanic-owned business owners stated they have a business plan suited to the current direction of the economy, significantly more than non-minority owned businesses (55%). This highlights the importance of access to crucial resources for these business owners. The survey reinforces this point, showing that 86% of Black- and Hispanic-owned businesses interacted with or leveraged resources from the Small Business Association (SBA), a local chamber of commerce or a community economic development organization. Only 69% of non-minority business owners reported doing the same.

ā€œThe truth is that the unique financial challenges minority-owned businesses have long faced were amplified during the pandemic. As a result, more minority business owners are now seeking Minority Business Enterprise (MBE) certification, which is also an important and needed resource,ā€ Odneal said.

Businesses that become MBE-certified gain exclusive access to premium networking events, affordable consulting services and technology programs, among other benefits, according to the National Minority Supplier Development Council.

ā€œOur survey revealed that 87% of Black-owned businesses are now MBE-certified, up from 69% last year. Three-quarters of Hispanic-owned business are MBE-certified, compared to 67% last year. Of MBE-certified businesses, 80% of Black- and 84% of Hispanic-owned businesses said that certification has been a helpful business development tool,ā€ Odneal said.

PNC has taken significant steps in doing more for minority-owned businesses and providing necessary resources to help them overcome roadblocks.

As a part of its Small Business organization, PNCā€™s Minority Business Development Groupā€™s mission is to deliver solutions and resources that foster financial wellness for small businesses within diverse communities. Theyā€™ve been able to do this, in part, through the PNC-Certified Minority Business Advocate initiative, a voluntary advocacy program that helps PNC employees understand the challenges facing minority-owned business owners.

ā€œIf the optimism of these entrepreneurs is realized and the U.S. business landscape prospers further down the road, minority business supporters must continue to execute against their mission and accelerate their efforts. The outlook is bright, but we must continue to do our part to advocate for these entrepreneurs and help their communities thrive,ā€ Odneal said.

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Real Estate

It’s not right, but it’s okay, I’m gonna spring clean this house anyway!

New season a perfect time to create a serene, inviting home environment

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(Photo by oocoskun/Bigstock)

Spring is right around the corner. During this season, spring represents a time for renewal, a fresh start, new beginnings, along with a sense of energy and optimism for the future.  One of the best ways to get this feeling going is also inside and around the home. Now that the temps are a bit warmer, and the sun sets a little later, give yourself the gift of a spring refresh.  Here are some tips to re-energize, declutter, ā€œmove the energyā€ in the room, and create a serene and inviting home environment. If that alone isnā€™t reason enough, some people in the area may be deciding to put their homes on the market this year too.

Enhance Curb Appeal: There is never a second chance to make a first impression!  Does the yard need tidying up? Does the front door need a fresh new coat of paint? Want to make it pop? Plant some shrubs or put some new flowers in the windowsills? Clean those windows.  Tidy up the entryway, buy a new credenza for catching mail, keys, gloves, hats, etc. Mop the floors, get all that road salt off the tiles.

Deep Clean the Kitchen and Bathrooms: These rooms are key selling points. Clean the oven, refrigerator, and stove in the kitchen. In bathrooms, clean grout lines, remove soap scum, and make sure faucets and showerheads are free from water stains.

Neutralize the Space: This is more for those who want to sell their home. It becomes easier for a potential buyer to ā€œsee themselvesā€ in a property the less they see YOU in the property. Put some photos away, declutter, take down anything that is very specific to you for any showings or open houses. I used to tell my clients, ā€œMake it look like a Hampton Inn!ā€ (clean, organized, presentable, not exactly shouting political affiliations and humor that may or may not play well to all audiences.) Just think, ā€œNEUTRAL!ā€

Fix Minor Repairs: Take care of any small repairs such as leaky faucets, broken door handles, or cracked tiles. These little fixes show that the home has been well-maintained. They also help build that ā€œcan doā€ muscle! If you donā€™t know a handyman/person you can always find how to videos on YouTube.

Reorganize Rooms: Consider rearranging furniture to create an open, welcoming flow. If needed, remove oversized pieces to make rooms feel larger. This can also help the ā€œvibeā€ in any home. I used show homes to clients that were smaller, but smartly furnished, and they could really feel the difference. An extra 150 square feet in an empty hallway isnā€™t doing anyone much good, but if you put some nice artwork up, and tone down the size of bulky furniture in the main living areas, it can begin to look like a crisp $100 bill.

Stage the Home: If youā€™re selling, consider staging the home, either with your own furniture or with rented pieces. Well-placed furniture and decor can highlight your home’s best features.

Freshen Up with Scents: Letā€™s be honest. Open those windows and air that bit*h out! Find your favorite candle company and invest in a few nice smells. I always wanted a nice candle burning during an open house. It helped the vibe! 

Whether you are staying put or planning on making moves, a spring re-fresh, clean up, maintenance moment, or general tidy up/tidy down is going to make YOU feel, in the words of Whitney Houston, ā€œlike a million-dollar bill! (OH OH OH OH!).ā€ 

Editorā€™s note: Playing anything by our beloved Whitney Houston is guaranteed to get any person, place, or home out of whatever current funk state it is in! If your house isnā€™t singing, ā€œYou Give Good Love to Meā€ … now you know what to do!

Joseph Hudson is a referral agent with Metro Referrals.Ā  He can be reached at (703) 587-0597 orĀ [email protected].

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Real Estate

The digital-first revolution in home buying

How technology is transforming real estate

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Technology has transformed the home buying process. (Photo by AndreyPopov/Bigstock)

The real estate industry is undergoing a seismic shift, mirroring the rapid digitization happening across all sectors. From shopping to banking to healthcare, consumers now expect seamless online experiences – and home buying is no exception. 

Todayā€™s buyers demand instant access, immersive digital experiences, and data-driven insights before ever setting foot inside a property.

Rise of the Digital-First Home Buyer

Gone are the days when buyers had to physically visit dozens of homes to narrow down their options. Thanks to cutting-edge technology, prospective homeowners can now tour properties from anywhere in the world, analyze market data in real time, and make more informed decisions – all with just a few clicks.

ā€¢ Key innovations fueling the digital home-buying experience include:

3D Virtual Tours ā€“ High-resolution, interactive walkthroughs allow buyers to experience a property as if they were there in person.

ā€¢ Drone Videos ā€“ Aerial footage provides a comprehensive view of a homeā€™s location, neighborhood, and surrounding environment.

  • Virtual Staging ā€“ AI-powered tools showcase how a vacant space could look with furniture, helping buyers visualize its potential.
  • AI-Powered Market Insights ā€“ Smart analytics help buyers compare property values, neighborhood trends, and future appreciation potential.

An example of real estateā€™s digital transformation is GayRealEstate.com, a platform dedicated to connecting LGBTQ+ buyers and sellers with trusted, equality-focused real estate professionals. Recognizing the demand for more inclusive, data-driven, and digital-first real estate solutions, the platform has introduced a groundbreaking tool:

Destination Comparison Tool at GayRelocation.com

For LGBTQ+ buyers, relocating isnā€™t just about affordability – itā€™s about finding a safe, welcoming community with the right balance of quality of life, job opportunities, and LGBTQ+ resources. Thatā€™s why GayRealEstate.com developed GayRelocation.com, an innovative tool that allows users to compare multiple cities based on:

  • Affordability ā€“ Housing costs, rent, and cost of living comparisons.
  • LGBTQ+ Resources ā€“ LGBTQ+ community centers, pride events, & inclusivity scores.
  • Job Market ā€“ Employment opportunities and industry growth trends.
  • Quality of Life ā€“ Healthcare access, schools, crime rates, and entertainment options.

This tool removes uncertainty and streamlines the relocation process, ensuring buyers can find a city where theyā€™ll thrive before they even begin their home search.

Future of Digital-First Home Buying

As technology continues to evolve, expect even more innovations in real estate, such as AI-driven property recommendations, blockchain-powered transactions, and even virtual reality (VR) home tours that replicate a real-world experience. 

Just as color TVs became a household staple in the 1960s, personal robots will soon be as common as a refrigerator or a smartphone. These AI-driven assistants will manage everything from security and home automation to grocery shopping and even providing companionship. 

Imagine touring a home and asking the built-in AI assistant about energy efficiency, property history, or neighborhood details – all in real time. As smart home technology advances, homebuyers will prioritize properties that seamlessly integrate AI, automation, and digital-first conveniences, making the home-buying process more intuitive than ever. The future isnā€™t just about finding a home – itā€™s about finding a smarter way to live.

The trend is clear: home buying is becoming faster, more accessible, and more informed than ever before. For buyers, this means greater convenience, less guesswork, and smarter decisions. For real estate professionals, embracing digital-first solutions isnā€™t optionalā€”itā€™s the future of the industry.

Are you ready to find your dream home the digital way? Explore GayRealEstate.com and use the Destination Comparison tool at GayRelocation.com to make your next move with confidence.


Jeff Hammerberg is founding CEO of Hammerberg & Associates, Inc. Reach him at 303-378-5526 or [email protected].Ā 

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Real Estate

Surprising parallels between dating and house hunting

Both require patience, effort, and a clear idea of what you want

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Valentineā€™s Day is often associated with romance, but it can also be the perfect time to invest in real estate.

Valentineā€™s Day is often associated with romance, chocolates, and candlelit dinners. However, for eligible singles, this holiday can be about more than just relationshipsā€”it can also be the perfect time to invest in real estate. 

Anyone who has been in the dating scene long knows that finding ā€œthe oneā€ can be challenging. Whether youā€™re searching for love or the perfect home, there are surprising parallels between dating and house hunting. Both require patience, time, effort, and a clear idea of what you want.

Just like dating, home buying requires a well-thought-out list of must-haves and deal-breakers. Understanding your needs will help you find the perfect match, whether in love or real estate.

Are you looking for a cozy condo in the city, or do you prefer a suburban single-family home with a yard? Perhaps a renovated kitchen will spur you into cooking up the perfect recipe for love. 

Do you want a fixer-upper to mold into your own vision? (Note: Molding to your idea of perfection works better with houses than with potential life mates.) What about being a landlord with a rental unit that can help with mortgage payments? Or, if you prefer, keep it empty to house your beloved on the days you argue.

Does your taste run toward the bearded, Paul Bunyan look of a cabin in the woods surrounded by bears? Is the sleek, sophisticated high-rise more your style? And what about the Dad-bod style of a ā€™70s split level in the suburbs?

When dating, first impressions can be powerful, and so can the first look at a home. Curb appeal and initial feelings about a property are just as important as charm and chemistry in a relationship, but flaws may not be immediately noticeable.

Buying a home, like committing to a partner, is a long-term investment. Both require financial and emotional readiness. No one is perfect, and neither is any home. While you should aim for a place (or person) that meets most of your needs, be prepared to compromise.

Working with experts helps. Whether youā€™re seeking relationship advice from Patty Stanger or guidance from your favorite real estate agent or mortgage lender, professionals can make the process smoother and more successful.

Many people donā€™t realize that Valentineā€™s Day and the mid-winter in general can be an advantageous time to shop for real estate. Since many couples are preoccupied with romantic plans or skiing vacations, there are often fewer buyers in the market around this time. Less competition for buyers and higher motivation of sellers could give singles an edge in negotiations. You may find better prices or flexible terms.

Consider the value of financial and personal independence. Instead of waiting to be swept off your feet by Prince Charming, singles can take control of their future by investing in property independently and finding Home Charming instead. 

If youā€™re ready to take the plunge, here are some key steps to ensure you find the right home:

  • Work with a Real Estate Agent ā€“ Interview agents. Ask friends for recommendations. Find someone you like and trust. An experienced agent can help you navigate the market, negotiate offers, and find a home that matches your needs.
  • Get Pre-Approved for a Mortgage ā€“ Knowing how much home you can afford is crucial. Talk to a lender and secure a pre-approval before you start your search.
  • Narrow Down Your Location ā€“ Choose an area that fits your wallet and your lifestyle. Drive around. Get to know the area at night and on weekends. Check out nearby public transit and parking options. Try out your commute. Locate shopping areas, dining establishments, and other services you use regularly.
  • Consider Future Needs ā€“ You may be single now but think about the future. If you plan to start a family or need a yard for a pet, factor that into your home-buying decision.
  • Donā€™t Rush the Process ā€“ Just like finding the right partner, finding the right home takes time. Be patient and donā€™t settle for something that doesnā€™t feel right. Itā€™s better to take your time than to end up with buyerā€™s remorse or, in the case of a rushed romantic decision, divorce.

So, instead of focusing on flowers that wilt and chocolates that donā€™t last this Valentineā€™s Day, why not fall in love with a home? Diving into the real estate market is a smart, long-term decision that offers stability, financial security, and a place you can truly call your own, making it one of the best gifts you can give yourself and the start of an exciting new chapter in your life. 

You never know who youā€™ll meet at an open house.


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

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