With mortgage rates above 7%, historically low levels of housing inventory, defaults in commercial real estate, and a series of potentially onerous regulations to come, Mortgage Bankers Association President and CEO Bob Broeksmit said the trade group is doing all its can to influence policymakers.
“MBA cannot control macroeconomic forces, but what we can do is make sure the actions of policymakers help our industry instead of hindering it at a crucial time,” Broeksmit said at the organization’s Compliance and Risk Management Conference this week in Washington, D.C.
Broeksmit highlighted the group’s work in helping a bill about remote online notarization get through the divided U.S. House of Representatives. The bill would create federal minimum standards to allow notaries to perform remote online notarization (RON) transactions. The MBA also supported Rep. John Rose (R-TN)’s effort to curb trigger leads, he said.
Broeksmit also touched on agency-focused policy work, citing the cancelation of a controversial Federal Housing Finance Agency (FHFA) policy that would have imposed a controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios.
The trade group has its eyes on other challenges ahead, including a proposal by the Financial Stability Oversight Council (FSOC) at the U.S. Department of the Treasury that would label non-bank financial entities as systemically important financial institutions, which MBA opposes.
“This will be a major regulatory power grab over a part of the housing finance market that is already well-regulated by the states and other federal agencies,” Broeksmit said. “If FSOC is concerned about the core banking activities taking place outside the purview of prudential bank regulation, then it should reconsider the regulatory environment that has caused the exit of so many traditional depository institutions from the marketplace in the first place. If you regulate everyone out of the business, who is left to originate and service these loans?”
MBA is also looking ahead to a U.S. Supreme Court decision expected early next year that will decide the constitutionality of the Consumer Financial Protection Bureau (CFPB), Broeksmit added.
“While the MBA has its disagreements with many of the Bureau’s regulatory actions, we have a strong position on the need for consistency and our opposition to chaos,” he said, noting the MBA has filed an amicus brief saying as much.
MBA is also keeping an eye on a developing case before the U.S. District Court for Maryland where the CFPB and the U.S. Department of Justice (DOJ) are aiming to make lenders liable for actions of third-party appraisers when those actions result in bias or discrimination during the valuation process, which MBA is also against.
“Lenders cannot be held vicariously liable on fair lending grounds for the actions or inputs of an independent third party such as an appraiser or [automated valuation model (AVM)] provider,” Broeksmit said. “AVMs hold great promise as an opportunity to alleviate appraiser shortages, minimize bias and reduce transaction costs. Clear rules of the road are necessary so we will stay engaged with federal policymakers on ways to reduce bias and improve accuracy for AVM users of all sizes and business models.”
Marketing is an expense, but it can also be considered an investment in the success of your small business. When done correctly, it can build your brand, draw prospective customers to your website or store, and ultimately drive revenue.
To make the most of your marketing dollars and successfully promote your small business, you’ll want to avoid the following mistakes.
1. Not making market research a priority
Market research, one of the first stages in the marketing process, is used to confirm demand for your business’s product or service, identify its target market and assess competitors.
“If we think of marketing, it’s not only the promotion of services, the promotion only of products. It’s the creation of products. It’s the creation of services. It’s connecting with people,” says Islam Gouda, a marketing scholar and author. “As a small business, I want to understand how my customers are thinking about different aspects in terms of their wants or their needs.”
When researching your target market, consider the platforms and channels they frequent and market your business there.
”Make sure that you’re really focusing on how people are going to find you,” says Jennifer Fortney, president of Cascade Communication, a PR and marketing communications company based in Chicago. Beyond the largest, most popular platforms, Fortney suggests also looking into niche publications and local magazines.
2. Brand inconsistency
“Always have consistent branding across all your channels: your social media, your LinkedIn profile, your website, your brochures, your fliers, whatever it is,” says Vanessa Castillo Bell, a consultant for the Arizona Minority Business Development Agency. “Once you have consistent branding all across your channels, your customers will recognize your brand.”
Establish brand guidelines for the logos, colors, images and text you’ll use across your marketing materials. Consistent branding creates a brand identity that looks professional and can offer benefits such as increased customer trust and loyalty — which can all lead to higher revenue for your business.
3. Not having a clear website strategy
There are many platforms on which to market your business, but your website is especially important. “Businesses own their website. That’s their online home,” Castillo Bell says. Therefore, you have complete control over what information you provide and how.
Castillo Bell recommends learning search engine optimization (SEO) techniques and identifying keywords that your customers would use to search for your products and business. Including those keywords in blogs, newsletters, white papers, videos and other types of content marketing can help your website appear on search engine results pages and gain traffic. Optimizing your website for mobile — since many consumers search online using their phones — is another key step, Castillo Bell says.
You’ll also want to make important details about your business easily accessible to website visitors. “If you’re a local business, be very specific about your location, what areas you serve, and put all of that information on your website,” Fortney says.
Building an effective marketing strategy requires patience; however, a mistake many businesses make is that “they are looking for a quick process,” Gouda says. “They are looking to generate revenue on the spot. They do not wait for return on investment,” he says. Ultimately, “they confuse marketing and sales.”
In reality, the results from your marketing strategy may not be noticeable for months. Researching your target audience, creating consistent messaging in all your marketing materials and exploring free marketing ideas can all help you stay the course.
From Facebook and YouTube to Instagram, TikTok and many more platforms, social media is a great place to market your business. However, trying to build an online presence on multiple channels doesn’t guarantee success.
“Just because a social media outlet or a social media platform exists doesn’t mean you have to use it. If you stretch yourself too thin, you’ll do none of it well,” Fortney says. “Own one. Pick one that’s the best for your business and your product or service, own it.”
After you’ve become successful in managing one platform, consider whether you want to add another social channel to your marketing strategy.
6. Not utilizing free resources
Before paying consultants to help with your marketing strategy, “one resource you should take advantage of is your free agencies,” Castillo Bell says.
The U.S. Small Business Administration, Small Business Development Centers, Minority Business Development Agencies and community development financial institutions, as well as nonprofit organizations for women, minorities and veteran small-business owners, can all be good options when you need free or low-cost help with your marketing plan.
A new study from credit reporting agency TransUnion revealed some interesting insights about credit card use and mortgage performance.
The report titled, “TransUnion Minimum vs. Actual Payments Study,” found that roughly four in 10 consumers pay off their credit cards in full each month. Of the remaining six, about two will only make the minimum payment due.
Those who pay off their credit cards in full each month are known as “transactors, “ while those who carry debt from month to month are known as “revolvers.”
TransUnion found that the latter group tends to get into trouble on other loans, such as auto loans and mortgages.
To measure just how much worse these revolvers performed, the company came up with two new metrics.
The first, known as “Total Payment Ratio” (TPR), is calculated by dividing a consumer’s aggregate monthly credit card payment by the total minimum due on all their credit cards.
So if a consumer has five credit cards with a combined minimum payment due of $250, but pays a total of $2,500, their TPR would be 10.
Per the study, this would land the consumer in the middle bracket, which has heightened risk of mortgage delinquency, as seen in the chart above.
It is consumers with TPR’s north of 30 that perform best on other loans, with mortgage delinquencies significantly lower than those with much smaller TPRs.
The worst group is those with TPRs below 1.03, otherwise known as those making the minimum payment, or perhaps a tiny bit more.
For these revolvers, the 60-day mortgage loan delinquency rate jumps to 1.98%, compared to fractional rates in other categories.
Then there’s the second metric, known as “Aggregate Excess Payment” (AEP). This is essentially the difference between the total minimum due and the total payments made on all of a consumer’s credit cards.
So for a consumer who owes a minimum of $250, but makes total payments of $2,500, their AEP would be $2,250.
At the same time, if a consumer only has minimum payments that total say $50, and makes a $300 payment, their AEP would be just $250.
Per the second chart, this would make them a greater mortgage default risk, even though they made much more than the minimum payment due, and perhaps the total amount actually due.
[A Mediocre Credit Score Will Cost You Big on Your Mortgage]
Two Important Takeaways
In other words, the best mortgage borrowers are those who pay much more than they owe each month, and at the same time make large payments.
It’s obvious that those who pay much more than what is due are lower credit risks, but the large amount is a more interesting takeaway.
You basically have to make an excess payment of $1,000 or more to wind up in the lowest mortgage default bracket in their study.
So this means the best consumers are those that are capable of carrying large amounts of revolving debt and subsequently paying it all off quickly.
For the record, mortgage underwriters like borrowers who are able to demonstrate history of supporting sizable debt, not simply those with high credit scores.
If your credit history only includes a few low-limit credit cards, you’ll have a harder time qualifying for a mortgage than if you have other installment loans, like auto loans/leases, and prior mortgages.
These big loans prove that you are/were able to manage large amounts of debt, which is exactly what a mortgage is, a giant chunk of debt.
So while making on-time payments in full is great, it seems you’re still missing something if you aren’t actively spending on your revolving credit lines.
All of this is important, as it could change the way mortgage lenders look at prospective borrowers in the future.
It doesn’t mean you have to go out and spend like crazy on your credit cards, but big spenders who pay off their bills in full appear to be the best mortgage borrowers.
Read more: How your credit score affects your mortgage.
Asset turnover ratio is a calculation used to measure the value of a company’s assets relative to its sales or revenue. It’s used to evaluate how well a company is doing at using its assets to generate revenue.
Similar to cash flow, the asset turnover ratio compares the company’s total assets over the course of a year to its sales. In simpler terms, it shows the dollar amount the company is earning in sales compared to the dollar amount of its assets. It can be calculated annually or over a shorter or longer period of time.
Why Is Asset Turnover Ratio Important?
Although having cash on hand is important for growing and maintaining a business, other types of business assets are also important, as is how a company chooses to use them. Liquid assets can include cash, stock, and anything else the company owns that could be easily liquidated into cash. Fixed assets are things the company owns that are not as easily turned into cash. This could include real estate, copyrights, equipment, etc.
For business owners, asset turnover ratio can be important when applying for loans and learning about their company’s cash flow. A higher asset turnover ratio indicates that a company is efficiently generating sales from its assets, while a low ratio indicates that it isn’t. A higher asset turnover ratio also shows that a company’s assets don’t need to be replaced or discarded, that they are still in good condition.
A higher ratio is preferable for investors, as well. Investors can look at the asset turnover ratio when evaluating the risk of investing in a company, or when comparing similar companies to one another. Each industry has different norms for asset turnover ratios, so it’s best to only compare companies within the same sector. For instance, a utility company or construction company is more likely to have a higher number of assets than a retail company.
Know, too, that asset turnover ratio is only one of many calculations that comprise the list of financial ratios that investors can employ. 💡 Quick Tip: How do you decide if a certain trading platform or app is right for you? Ideally, the investment platform you choose offers the features that you need for your investment goals or strategy, e.g., an easy-to-use interface, data analysis, educational tools.
Formula for Calculating Asset Turnover Ratio
It’s fairly simple to calculate asset turnover ratio, which is one reason it’s such a useful tool for investors. Asset turnover ratio can be calculated using the following formula, which divides total (net) sales or revenue by average total assets:
Net Sales = Gross annual sales minus returns, allowances, and discounts. Total sales can be found on a company’s income statement (typically part of an earnings report).
Beginning Assets = Assets at the beginning of the year
Ending Assets = Assets at the end of the year
Total Assets = Generally a company will include calculated average total assets on their balance sheet. However, sometimes additional calculations will need to be made.
Calculating Total Assets
The value of a company’s total assets includes the value of its fixed assets, current assets, accounts receivable, and liquid assets (cash).
• Accounts receivable are accounts that hold expected revenues that come from when customers use credit to buy goods and services.
• Fixed assets are generally physical items such as equipment or real estate.
• Current assets are things that the company predicts will be converted into cash within the next year, such as inventory or accounts receivable that will be liquidated.
The formula for calculating total assets is:
Total Assets = Cash + Accounts Receivable + Fixed Assets + Current Assets
Example of Calculating Asset Turnover Ratio
To give an example of the ratio calculation, if a company has $2,000,000 in average assets and $500,000 in sales over the course of a year, the calculation of its asset turnover would be:
500,000 / 2,000,000 = 0.25 = 25% asset turnover ratio
Interpreting Asset Turnover
Sticking with the example above, we’ve calculated a 25% asset turnover ratio. What that means, exactly, is that the company’s assets generated 25% of net sales over the course of the year. In other words, every $1 in assets that the company owns generated $0.25 in net sales revenue. Again, this can be helpful when using various business valuation methods and trying to determine whether an investment fits your overall strategy.
Factors that can Cause Low Asset Turnover
There are several reasons why a company might have a low asset turnover. These include:
• More production capacity than is needed
• Inadequate inventory management
• Poor methods of customer money transaction
• Poor use of fixed assets
The ratio can also change significantly from year to year, so just because it’s low one year doesn’t mean it will remain low over time.
What Is a Good Asset Turnover Ratio?
Investors can use the asset turnover ratio as part of comparing and evaluating stocks. But what is considered a good number for asset turnover?
In general, the higher the number the better — and a number higher than 1 is ideal. This is because a value greater than 1 means the dollar value generated by assets is greater than the dollar amount that the assets cost. A higher number means a company is generating sales efficiently and not wasting assets.
Conversely, a number less than 1 means that assets are generating less than the amount of their dollar value. If a company isn’t effective at generating sales with its assets, it most likely wouldn’t be a great investment — which, again, is important to know if you’re building an investment portfolio.
Since each industry has its own standards for a “good” asset turnover ratio, there isn’t one specific number to look for. For companies in the utilities industry, ratios are generally lower than companies in retail.
Companies can work on improving their asset turnover ratio by increasing sales, decreasing manufacturing costs, and improving their inventory management. Other ways they can improve include adding new products and services that don’t require the use of assets, and selling any unsold inventory still on hand.
What Does a High Ratio Imply About a Company?
If you’re using technical analysis techniques to get some clarity around a company as a possible investment target, you’ll want to get down to brass tacks: What, exactly, is a high ratio telling you?
The answer is that a high ratio implies that a company is in good standing. It’s generating value with its assets, which can signal that it may be a solid investment. But, again, there are no guarantees.
Limitations of Using Asset Turnover Ratio
While asset turnover ratio is a useful tool for evaluating companies, like any calculation, it has its limitations. It is useful for comparing similar companies, but isn’t a sufficient tool for doing a complete stock analysis of any particular company.
Also, a company’s asset turnover ratio could vary widely from year to year, making it an unreliable measure for potential long-term investments. Even if the ratio has been similar in years past, this doesn’t mean it will continue to remain consistent. However, investors can look at the long term trendline of the ratio to get a general indication of whether it’s improving or not.
Since asset turnover is typically calculated once a year, if a company made even a few large purchases this could skew their ratio. This is fairly common, as companies might have certain monthly expenses but occasionally need to invest large sums of money into equipment, office renovations, or other common business needs. 💡 Quick Tip: The best stock trading app? That’s a personal preference, of course. Generally speaking, though, a great app is one with an intuitive interface and powerful features to help make trades quickly and easily.
Drawbacks of Asset Turnover Ratio in Stock Analysis
The limitations outlined above play into some of the potential drawbacks of the asset turnover ratio when analyzing stocks, too. Mostly, it comes down to the fact that as a single ratio, which doesn’t reveal the total health or financial picture for a single company. For that reason, it’s probably a good idea to use the ratio in tandem with other analysis tools and methods.
For instance, other ratios that can be used to gain an understanding of a company’s financials are the debt-to-equity ratio, its P/E ratio, and even looking at its net asset value.
The Difference Between Asset Turnover and Fixed Asset Turnover
Fixed asset turnover and asset turnover are two different ratios that can tell you about a company, and for investors, it’s important to understand the difference between the two.
In short, and to recap, asset turnover ratio looks at average total assets of a company — “total,” in this case, being the important qualifier. On the other hand, fixed asset turnover ratio looks at a company’s fixed assets to measure performance.
Investing With SoFi
Knowing how to calculate asset turnover ratio can be useful for investors who are evaluating companies as they start building an investment portfolio. While the formula is simple — Asset turnover = Net Sales / Average Total Assets — it’s important to remember that the calculations work best when comparing companies within one industry, rather than across various industries.
Additionally, there are other metrics by which to evaluate a company or value its stock. The asset turnover ratio can be helpful, but it has its limitations. As always, speak with a financial professional if you feel like you’d benefit from more guidance.
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FAQ
How can you improve asset turnover ratio?
Some ways that a company can improve its asset turnover ratio include increasing its revenues, selling some of its assets, renting or leasing assets rather than purchasing them, and optimizing its inventory and ordering systems.
Is an asset turnover of 1.5 good?
Yes, an asset turnover ratio of 1.5 is a sign that a company is on solid financial footing. It indicates that a company’s total assets are generating enough revenue from its current assets.
Can asset turnover ratio be negative?
Yes, and a negative asset turnover ratio would be a signal that a company lost money during the year, rather than earned it. A negative number represents that its liabilities or expenditures exceeded its assets.
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This state has it all, from bustling cities to cozy small towns, from beaches to mountains.
Looking for the best place to live in Maryland? You’re in luck. With its close proximity to Washington, D.C., and an ample coastline, Maryland offers something for everyone. Stick around as we dive into the best places to call home in this diverse state.
Population: 65,092
Average age: 42.8
Median household income: $178,370
Average commute time: 29.3 minutes
Walk score: 45
Studio average rent: $1,889
One-bedroom average rent: $2,631
Two-bedroom average rent: $3,501
In Bethesda, sleek office buildings stand like polite giants nodding at the encircling trees, while award-winning public schools promise futures written in Pulitzer ink. Within close proximity of the nation’s political pulse, jobs in consulting, biotechnology and the not-so-small universe of NGOs flourish like dandelions after a spring rain. This is a town where lab coats and pant suits sip fair-trade coffee side-by-side, leafing through the latest policy white papers or engrossed in a new bestseller.
Dine globally without a passport; sushi bars and tapas joints are almost as commonplace as the strip of art galleries flaunting color like defiant peacocks. Walk the Capital Crescent Trail where nature seems to wink, uninterrupted, at the hurried lives just a few miles away. It’s a place for the young, the seasoned and the young-at-heart — because a social calendar here is as likely to brim with farmers markets and antique fairs as with indie film festivals. An orchestra of lives harmonizing in pursuit of personal crescendos, Bethesda stands as one of the best places to live in Maryland.
Population: 105,412
Average age: 38.7
Median household income: $111,278
Average commute time: 30.6 minutes
Walk score: 33
Studio average rent: $1,800
One-bedroom average rent: $1,691
Two-bedroom average rent: $1,947
In Columbia, winding pathways connecting neighborhoods feel like arteries of communal ambition. The schools are fortresses of academia, where young minds are not so much filled as they are ignited. The economy? It has enough horsepower to make a muscle car purr, driven by a gamut of industries from healthcare to cybersecurity.
Juxtapositions flourish in Columbia. Lakes and parks are as abundant as shopping centers and eateries, each offering solace or spectacle, depending on your mood. It’s where people kayak under the same sky that office buildings stretch toward. Cultural festivals mingle with farmers markets—life here is a curated menu of perpetual discovery.
Population: 67,139
Average age: 39.5
Median household income: $111,797
Average commute time: 30.3 minutes
Walk score: 56
Rockville residents understand the beauty of balance. The red and yellow lines of the Metro whisk them into the heart of D.C. in minutes, while the corridors of Rock Creek Park offer an immediate escape from the 9-to-5 grind. The job market isn’t just robust; it’s a kaleidoscope of potential, with opportunities ranging from biotech and software development to healthcare and federal services.
Rockville is a place where international grocery stores and boutiques stand unassumingly next to American big-box retailers. The town puts on cultural events that range from summer concerts to holiday parades, each inviting every strata of the community to mingle in shared celebration. In Rockville, you’ll find a gathering of people who aren’t just living but composing a narrative where ambition and relaxation co-author every chapter.
Population: 73,272
Average age: 41.5
Median household income: $136,234
Average commute time: 29.4 minutes
Walk score: 23
Studio average rent: $1,588
One-bedroom average rent: $2,207
Two-bedroom average rent: $2,545
In Ellicott City, historic landmarks sit comfortably beside modern retail spaces, like a multigenerational family enjoying a holiday feast. Consistently considered one of the best places to live in Maryland, Ellicott City offers not just exceptional quality of life but also an array of job opportunities in industries like information technology, healthcare and education, just to name a few.
Now, let’s talk nature. Patapsco Valley State Park is more than a lungful of fresh air; it’s an entire respiratory system of scenic trails, waterfalls and wildlife. But Ellicott City isn’t just a looker; it’s a doer. Community events like art festivals and outdoor concerts fill the calendar, drawing together a diverse and open-minded populace. Here, camaraderie doesn’t take a backseat: It rides shotgun, guiding both newcomers and long-time locals through a life that’s as rich in opportunity as it is in character.
Population: 40,687
Average age: 38.3
Median household income: $92,026
Average commute time: 29.7 minutes
Walk score: 48
Studio average rent: $1,698
One-bedroom average rent: $2,432
Two-bedroom average rent: $2,670
Annapolis is a unique city in that maritime culture and political pomp walk hand in hand to the beat of their own marching drum. This Maryland gem packs a punch with its waterfront ambiance, captivating history and modern-day amenities, making it one of the best places to live in Maryland. A haven for both boat enthusiasts and power-suit-wearing policymakers, the employment landscape is a diverse mix of opportunities in government, education, healthcare and maritime industries.
Life in Annapolis is scenic and social. It seems pulled from the pages of a well-written novel. You can enjoy a day by the Chesapeake Bay and then head downtown to meet friends at a café or catch live music at a local venue. From the red-bricked charm of its historic district to the energetic buzz of its contemporary lifestyle, Annapolis is both a tribute to its rich past and a living testament to the concept of one of the best places to live in Maryland.
Population: 57,542
Average age: 32.8
Median household income: $90,951
Average commute time: 26.3 minutes
Walk score: 50
Studio average rent: $1,599
One-bedroom average rent: $1,765
Two-bedroom average rent: $2,053
Think of Towson as the cosmopolitan cousin to Baltimore that’s carved its own distinct identity on Maryland’s cultural map. It’s like a dynamic, multifaceted character in a compelling novel, always ready for the next twist in the plot. A haven for students and seasoned professionals, this community stands tall as one of the best places to live in Maryland. Renowned educational institutions, including Towson University, provide a young, energetic vibe, while a robust job market in healthcare, law and information technology makes the town a magnet for qualified job seekers.
Life in Towson isn’t just about achieving, it’s also about relishing. Let’s talk natural beauty; think Loch Raven Reservoir and Cromwell Valley Park, where you can experience the great outdoors with the same convenience as grabbing a latte from the corner café. Speaking of which, Towson’s dining scene offers an international smorgasbord, from sushi spots to Italian bistros. The community pulse here is dynamic, too, defined by seasonal events like the Towson Farmers Market and the Festival of Trees.
Population: 79,588
Average age: 36.4
Median household income: $78,400
Average commute time: 31.9 minutes
Walk score: 47
Studio average rent: $1,800
One-bedroom average rent: $1,882
Two-bedroom average rent: $2,062
Acting as a savvy entrepreneur and a seasoned historian, Frederick emerges as one of the best places to live in Maryland. Job opportunities abound across sectors like healthcare, biotech and logistics. Meanwhile, education is equally ambitious, with schools that inspire students to look beyond the textbook, offering programs that harness creativity and analytical thinking alike.
But there’s more to Frederick than a well-rounded resume; this city knows how to kick back and enjoy the scenery. The great outdoors is right at Frederick’s doorstep, with the Catoctin Mountains offering a green expanse for hiking, picnicking and some good old-fashioned reflection.
Downtown Frederick is perfect for a leisurely Saturday stroll or a culinary journey through global cuisines. Throw in a dash of arts and culture and you’ve got a city that provides the best of what Maryland has to offer.
Population: 81,069
Average age: 34.6
Median household income: $91,970
Average commute time: 34.9 minutes
Walk score: 63
Studio average rent: $1,790
One-bedroom average rent: $1,963
Two-bedroom average rent: $2,248
Silver Spring is situated just a stone’s throw from D.C. This coveted enclave is on everybody’s lips when discussing the best places to live in Maryland or in the greater DMV area. A robust job market fueled by healthcare, media and technology provides plentiful opportunities for professionals of every stripe. Add to that a parade of excellent schools, where innovative teaching styles are the norm, and you’ve got an environment that molds future leaders as easily as it crafts neighborhood potlucks.
Silver Spring knows the art of balancing work and play like a tightrope walker knows the thrill of the high wire. The great outdoors beckon, whether it’s the nearby Rock Creek Park or the various local trails and green spaces perfect for a weekend jaunt.
And let’s not overlook the town’s eclectic palate; from food trucks to high-end dining, it’s a culinary carnival that tempts taste buds in all the right ways. Festivals, farmers markets and live performances add layers to the local color, making Silver Spring not just a place to live, but a place to live life to the fullest.
Population: 29,490
Average age: 36.0
Median household income: $80,255
Average commute time: 35.9 minutes
Walk score: 53
Studio average rent: $1,651
One-bedroom average rent: $1,817
Two-bedroom average rent: $2,112
Midway between Washington, D.C., and Baltimore, Laurel unfurls a red carpet of opportunities in fields like healthcare, government and education. A cluster of top-notch schools underscores the community’s commitment to academic excellence, cultivating young minds with both rigor and compassion.
Yet Laurel isn’t merely a grindstone against which to sharpen one’s professional and educational blades; it’s a banquet hall of experiences. Eateries and cafes serve a cornucopia of flavors, drawing inspiration from around the globe, while local shops sprinkle personality into every purchase.
Population: 9,801
Average age: 48.3
Median household income: $228,986
Average commute time: 30.0 minutes
Walk score: 62
Studio average rent: $1,550
One-bedroom average rent: $2,758
Two-bedroom average rent: $3,666
Chevy Chase is a destination worth your real estate dreams and categorically one of the best places to live in Maryland. On the edge of Washington, D.C., this suburban jewel attracts a cadre of professionals from industries as varied as law, healthcare and government. Educational aspirations are met with schools that not only excel in academia but also emphasize well-rounded growth, thereby churning out young minds equipped for the complexities of the modern world.
But life in Chevy Chase is not all spreadsheets and lesson plans. Think of it as a well-curated gallery of experiences. Tree-lined streets pave the way to an array of recreation options, from meticulously maintained parks to high-end shopping destinations. Imagine dining in restaurants where each dish seems to be plucked from a culinary magazine, or attending cultural events that resonate with intellect and soul.
Make your way to Maryland
So there you have it — a list of some of the top places to live in Maryland. Whether you’re a career-driven professional, actively raising a young family or just looking for a place that has a good mix of everything, Maryland has a spot for you.
The towns featured above aren’t just places to live; they’re communities where anyone can thrive. Now the ball’s in your court. Maryland’s got options; it’s up to you to choose your perfect fit. Find your Maryland apartment today.
Nevada is known for its dry climate, untouched natural wonders, and tall, forested mountains. The majority of the state is a plateau, with deep valleys and tall peaks. It has many climate zones, ranging from warm mediterranean in the western part of the state, to vast desert in the south, to high desert in the north.
Weather patterns generally range from dry and hot in metros like Las Vegas,to dry and cooler in areas such as Elko and Genoa. However, throughout the state, weather can often turn into natural disasters, like flooding, wildfires, and heat waves.When these happen, it’s essential to be prepared.
So what are the most common natural disasters in Nevada, how are they changing, and what can you do to prepare? Whether you’re planning a move to Las Vegas or are looking at apartments in Reno, read on for everything you need to know.
1. Nevada drought
Drought is a serious issue in Nevada, which is already the driest state in the US, receiving an average of 9 inches of precipitation per year. The state is one of many in the Colorado River Basin that has been dealing with a long-term “megadrought.” This drought hit a peak in spring 2022, when100% of Nevada’s population was experiencing severe to exceptional drought. This prompted the federal government to enact a tier two water shortage for the state, which is still in place.
The state’s water supply primarily comes from the Colorado River at Lake Mead, which has been shrinking due to chronic overuse and reduced precipitation. To help, Nevada has been working with the other six “basin” states who rely on the Colorado River to reduce water use and prevent an emergency that would require dramatic Federal action. Recently, the Lower Basin States of California, Arizona, and Nevada pledged to save around 1 billion gallons of water by 2026.
Southern Nevada has already adopted extremely strict water conservation measures, reducing water usage by 26 billion gallons compared to 2002, even though its population increased by over 750,000.
Droughts are exacerbated by warmer average temperatures, and can also increase the frequency and severity of other disasters, such as forest fires, dust storms, and heat waves.
How to prepare for drought in Nevada
Because Nevada has been experiencing drought for decades, it’s important to adapt your lifestyle to accommodate lower water use and prepare for future restrictions. For example:
2. Nevada wildfires
Wildfires are a major disaster in Nevada. In fact, from 2000-2018, wildfires burned more than double the number of acres compared to 1980-1999. Recently in 2018, the Martin and Sugarloaf Fires burned nearly 1 million acres. While most wildfires occur in the northern parts of the state, they can happen anywhere.
Most people don’t live within 20 miles of a recent active wildfire, excluding the mountainous cities of Reno and Carson City. However, according to data from First Street Foundation, 60% (733,893) of properties in Nevada are at risk of being affected by a wildfire in the next 30 years. Importantly, only 27% of properties in Las Vegas are at risk of being impacted by a wildfire, with most risk confined to Summerlin South, Enterprise, and nearby areas.
The state’s dry season from May through September (excluding monsoons), combined with parched forests, sets the stage for devastating fires that can spread rapidly. Prolonged drought and heat waves exacerbate the severity of wildfires. The primary causes of wildfires in Nevada are human activity and monsoon lightning. And in southern Nevada, where there are fewer trees, most wildfires are caused by target shooting and fireworks.
Wildfires can also devastate the landscapes and hillsides of northern Nevada, making them more susceptible to flooding, landslides, and mudslides, especially during intense rainfall.
How to prepare for wildfires in Nevada
If you intend to move to Nevada or already live in the Golden State, preparing for wildfires is essential. Here are some tips to help:
Create a defensible space around your property by removing flammable materials and trimming or removing dry vegetation.
Install interior and exterior sprinkler systems, if you have access to enough water and drought restrictions don’t prohibit it.
Install a generator to keep the power running in case of power outages.
Stay updated on fire weather forecasts and follow all fire restrictions.
Prepare for poor air quality by purchasing an air purifier and installing HEPA air filters on air conditioning units.
Build an emergency kit with essentials and valuable documents.
Ensure your insurance adequately covers fire damage, or, if the rising premiums are too high, understand the risks of going uninsured.
Work with your community. This is the most successful way to mitigate fire risk in your neighborhood.
3. Nevada heat waves
Hot, dry weather is common throughout Nevada, especially in the Southern parts of the state, where most of the population lives. Summer temperatures can reach over 100 degrees Fahrenheit throughout the state, especially in July and August. Most recently, during a heatwave in 2023, Las Vegas recorded temperatures above 100 degrees every day in July, with two weeks hitting a daily average temperature of 100.7. The city also hit 110 ten days in a row.
According to First Street Foundation, 66% (1.2 million) of homes in Nevada currently have a Severe Heat Factor, meaning the average daily temperature is at least 95 degrees Fahrenheit for the hottest month of the year. The overwhelming majority of homes at risk are in Clark County, which is home to Las Vegas.
Cities often feel the heat worse than rural areas due to the urban heat island effect. Las Vegas is the worst heat island in the country, experiencing a 5.76 degree difference between urban and rural temperatures. Las Vegas is also the fastest warming city in the US, with average temperatures increasing nearly 6 degrees since 1970.
How to prepare for heat waves in Nevada
Heat waves can be intense and cause health issues, including heat stroke and dehydration. As such, it’s essential to be prepared when they arrive. Here are a few ways to stay cool in extreme heat:
Stay updated on forecasts and advisories.
Prepare a meal plan that doesn’t involve cooking indoors.
Stay hydrated before, during, and after a heat event.
Make sure your air conditioning is functioning properly.
Install a generator in case the power goes out due to strained utility systems.
Limit outdoor activities to the early morning and late evening.
Switch from incandescent to LED light bulbs.
Stock up on lightweight, protective clothing.
Close blinds, shades, and curtains.
4. Nevada flooding
Nevada is known for its dry climate, but it’s actually very prone to flooding. 11% of properties in Nevada have a chance of being severely affected by flooding in the next 30 years, with most located in the mountains and highlands.
Nevada’s flood risk profile is marked by its dry climate, which makes it particularly susceptible to regional and flash floods year-round. Some cities also have a risk of riverine flooding. Recently, in February and March 2023, the winter storms that hit the Sierra Nevadas prompted a disaster declaration in Nevada for flooding, landslides, and mudslides. And, later in the year, an intense late summer monsoon caused flash flooding throughout Clark County.
Nevada is also prone to snowmelt flooding. The Carson Range and nearby peaks in Northwestern Nevada can receive substantial snowfall in the winter, often through winter storms and blizzards. And as temperatures rise in the spring and summer, this snow can melt rapidly, especially during an early heat wave.
How to prepare for flooding in Nevada
In Nevada, preparing for a flood is essential, particularly during sudden intense rain and snowmelt events. Because a large portion of the state is prone to flash flooding, you may not have much time to prepare, so it’s critical to practice and have supplies ready during the spring and summer. Here are a few tips to help:
Familiarize yourself with flood risk maps for your area to see your potential risks.
Consider flood insurance if you’re in a high-risk zone.
Keep emergency supplies on hand, including non-perishable food, water, medications, and important documents.
Elevate valuable items in flood-prone areas of your home, and install sandbags or barriers if necessary.
Invest in flood sensors.
Stay tuned to weather forecasts and alerts, and have a communication plan in place with your family.
5. Nevada earthquakes
Earthquakes are a major risk in Nevada. The state is home to thousands of fault lines, and many regions experience dozens of tiny earthquakes every day. The most notable region is the Walker Lane, which is a trough consisting of thousands of fault lines that pass through most of the Western border of Nevada and into southern California. This is where most geologic activity occurs, although there are notable major faults in the Las Vegas Valley. Reno and Carson City, located along the Walker Lane, are at a particularly high risk, although Las Vegas would suffer far more damage.
There have been 23 earthquakes with a magnitude 6 or greater since the 1840s, with the most recent being the Ridgequest quakes in 2019.
While earthquakes are infrequent, they are by far the most destructive type of disaster in Nevada when they hit. Additionally, Nevada can also be affected by earthquakes with epicenters in California, such as the recent quake in the Sierra Nevadas that was felt in Reno.
How to prepare for earthquakes in Nevada
Earthquakes are irregular but destructive and can cause significant damage to structures, utilities, and water systems. Main shocks can last for minutes, while aftershocks can last for years. They can also strike suddenly, at any time, with only seconds of warning. As such, preparing your home is critical. Here are a few tips to help:
Practice drop, cover, and hold on, so you’re ready when a quake hits.
Purchase earthquake insurance to cover some losses in the event of a quake. This is a separate policy that you purchase in addition to regular homeowners’ insurance. It’s also available to renters.
Make sure you have a durable, charged communication device in case of an emergency.
If you rent, ask your landlord about the building’s seismic history.
Keep your emergency kit stocked, updated, and accessible.
Anchor heavy items to the wall, strap down expensive electronics, and secure small valuables.
Brace your water heater according to state law.
Ensure your gas lines have flexible connections.
If you live in a house built before 1980, it will likely need to be retrofitted. Don’t do this yourself; hire a seismic retrofitting professional.
Final thoughts on natural disasters in Nevada
Nevada’s climate is diverse, dry, and pleasant. Drought, fire, heat, flooding, and earthquakes make it a varied and unpredictable place to live.Many cities in Nevada, especially Las Vegas, continue to be the most popular migration destinations, primarily due to people’s desire for sun. Because of this, the state’s population has increased by over 70,000 since 2020.
If you’re considering moving to Nevada or already call The Silver State home, make sure you’re prepared for natural disasters and long-term weather events. Understanding your risks and adequately preparing are helpful to make the most out of living in Nevada. The National Weather Service and University of Nevada, Reno offer experimental maps that show forecasted and past risks in any given area, which can help you prepare.
Lastly, many natural disasters are worsened by climate change.So no matter how you prepare, reducing your carbon footprint and pushing for systemic change are the best long-term solutions.
This article is for informational purposes only. Individual results may vary. This is not intended as a substitute for the services of a licensed and bonded home services or disaster prevention professional. Always seek expert advice and follow all official guidance before, during, and after a disaster.
In recent years, the modern farmhouse design style has taken the interior design world by storm, becoming one of the most sought-after and beloved trends. This aesthetic combines the warmth and charm of traditional farmhouses with the clean lines and simplicity of contemporary design, resulting in a timeless and inviting atmosphere.
Looking to transform your home into a modern farmhouse haven? This Redfin article offers essential elements and home improvement tips for achieving this style, whether you’re buying a house in Austin, TX or remodeling a home in Nashville, TN.
The key elements of Modern Farmhouse design
Neutral color palette: Modern farmhouse interiors often feature a neutral color scheme as the foundation. Whites, creams, soft grays, and muted earth tones set the stage for a calming and cohesive atmosphere. These colors create a backdrop that allows other design elements to shine.
Natural materials: Incorporating natural materials is a hallmark of the modern farmhouse style. Exposed wood beams, reclaimed wood flooring, and stone accents add warmth and character to your home. Opt for furniture and decor made from materials like reclaimed wood, metal, and stone to enhance the rustic appeal.
Open floor plans: Modern farmhouse homes typically embrace open floor plans, promoting a sense of spaciousness and connectivity. Removing walls and barriers between the kitchen, dining, and living areas allows for a seamless flow and encourages family and friend interaction.
Farmhouse sink: A classic farmhouse sink is a focal point in the kitchen. These deep, apron-front sinks are not only practical, but also add a touch of nostalgia and charm to the space. Pair it with a stylish and functional bridge faucet for an authentic farmhouse look.
Shaker cabinets: Shaker-style cabinets are a popular choice in modern farmhouse kitchens. Their simple, clean lines and recessed panel doors offer a timeless aesthetic. You can paint them in soft, neutral colors or go for a more rustic finish for added character.
Barn doors: Barn doors have become a symbol of modern farmhouse design. These sliding doors save space and contribute to the rustic ambiance. They can be used to separate rooms or conceal storage areas.
Industrial lighting: Incorporate industrial-style lighting fixtures, such as pendant lights with metal or glass shades, to add a touch of contemporary flair to your farmhouse decor. Edison bulbs and fixtures with matte black or aged brass finishes work well in this context.
13 expert tips for achieving the Modern Farmhouse Style
Achieving the modern farmhouse style is an art, and it often requires attention to detail and a keen eye for design. Here are some expert tips to help you master this popular aesthetic:
1. Mix old and new
“Modern farmhouse design combines the warmth of tradition with the sleekness of modern design,” says Small House Solutions, a custom design build firm. “It’s characterized by open spaces and a balance between old and new. To give it a fresh twist, consider using shiplap on unexpected surfaces, like ceilings or islands, embodying the fusion of textures that defines the style.”
2. Texture matters
According to Newberry Architecture, an architecture company, “The importance of texture in modern farmhouse design cannot be overstated. It’s about taking the traditional concepts of a farmhouse – natural elements, craftsmanship, and simplicity in construction, and using textured materials, wood, streams of natural light, and earth tones to reimagine them in an innovative way. This could involve a creative take on paneling, or a fresh finish on a classic material, all while blending in the use of modern hardware, fixtures, or furniture. It’s a surprising view of traditional architecture that makes a space feel pioneering.”
3. Simplicity is key
“One effective way to bring modern farmhouse design to life is focusing on simplicity,” suggests Indie Farmer, a farming magazine. “This entails using a neutral color palette and incorporating rustic materials and textures. In our own modern farmhouse self-build, we opted for white walls, large windows, and a polished concrete floor with exposed aggregate. We kept the external design of the house simple, using black corrugated metal for the walls and roof, with contrasting wooden cladding in the recessed areas around the large sliders. The interior was finished with a mixture of mid-century furnishings, modern artwork, and some rustic antiques to create a cozy and inviting atmosphere.”
4. Incorporate statement pieces
According to Casy Honeycutt, Vice President of Quicksilver Custom Builders located in North Carolina, “When it comes to statement pieces in your modern farmhouse design, choose farmhouse-inspired fixtures and furnishings. This could include shaker-style cabinets, barn doors, farmhouse sinks, industrial lighting fixtures, and exposed wooden beams. To further elevate your space, add personal touches by customizing it with vintage or family heirloom pieces, family photos, and unique decor items that make the space feel warm and welcoming.”
5. Quality over quantity
McAllen Interior Designer emphasizes that, “Modern Farmhouse Design represents the sleekest and cleanest version of the Farmhouse Style. When working on a Modern Farmhouse project, it’s crucial to avoid using fake or look-alike materials. Instead, opt for natural stone, wood, brass, leather, and objects that have aged beautifully with patina. Choose furniture with clean lines, create textile layers, and resist the urge to go overboard with farmhouse decor. Avoid placing chicken figurines in your kitchen or hanging farmhouse signs. Instead, embrace muted and neutral colors, keeping in mind that less is more in achieving the desired aesthetic.”
6. Functionality matters
HomeDesigns AI, an AI platform for redesign ideas, underscores the importance of functionality in Modern farmhouse design. “It’s not merely a passing trend, but rather a lifestyle choice that resonates with many,” they say. “This style seamlessly blends traditional elements like exposed wooden beams and neutral color palettes with modern amenities and smart home technology, resulting in a unique fusion of rustic charm and contemporary sophistication. For enthusiasts of farmhouse design, the essence lies in creating a warm, inviting space that strikes a harmonious balance between the old and the new, and between functionality and aesthetics. It’s about crafting homes that are not only visually appealing, but also comfortable and practical to live in.”
7. Find harmony between rustic and modern
Nikki’s Plate, a lifestyle blog, points out, “The modern farmhouse design style is a perfect blend of traditional rustic charm and modern functionality. What sets modern farmhouse design apart is its innovative integration of technology and eco-friendly systems for energy efficiency. The mix of materials like reclaimed wood with sleek surfaces such as concrete or metal adds a contemporary edge, while clever storage solutions maximize space and functionality. Overall, modern farmhouse design embodies the ideal combination of classic and contemporary elements, resulting in a warm and inviting space that exudes charm and character.”
8. Add natural accents
“This interior style employs bright, light, and airy colors, such as white, muted grey, or earthy browns, paired with natural and organic textures like wood, rattan, metal, stone, and brick,” says Fresh Design Blog, a source of modern and contemporary interior design. “It also embraces the infusion of natural accents like potted plants, fresh flowers, to bring the outdoors in. In addition, it promotes the use of fresh, woven fabrics and prints that foster comfort and relaxation, a refreshing departure from the fussy vintage fabrics of traditional farmhouse interiors.”
9. Contemporary elegance
Endemic Architecture, a contemporary architecture company, advises, “When considering the design of a modern farmhouse, it’s essential to celebrate the simple forms, materials, and neutral colors associated with a farmhouse. Equally important is to avoid pastiche. One effective way to achieve this is by emphasizing key elements like chimneys, roofs, or porches, even to the point of exaggeration or manipulation. This fosters renewed architectural expressions that are both familiar yet slightly strange, or what we call ‘almost familiar’.”
10. Seamless integrate the indoor and outdoor spaces
“A distinct characteristic that makes these designs stand out is the thoughtful integration of indoor and outdoor spaces,” says Architecture Collection, an architecture and design community. “This is often achieved through large windows or even entire glass walls that let in an abundance of natural light, creating a harmonious connection between the interior and exterior living areas.”
11. Avoid unnecessary extravagance
Purcell Timber Frame Homes, experts in custom home design and prefabricated luxury homes claims, “The modern farmhouse embodies timeless simplicity. It’s characterized by clean gable rooflines, typically in white or soft gray board and batten cladding, and a focus on functionality over ornate details. Tall vaulted gable ceilings, a straightforward color palette, and the balance of core living areas define this enduring style. It champions simple, efficient, and sustainable design, avoiding unnecessary extravagance – a true ode to timeless simplicity.”
12. Use an efficient layout
Boutique Home Plans, a custom home plans company, offers insights into creating a timeless modern farmhouse through thoughtful layout design. “The key is to start with a traditional farmhouse massing and footprint, and then open up the living space into a more contemporary layout and flow. Traditionally, farmhouses were simple rectangular structures, organically tacked on to each other as the family’s needs evolved.”
13.Focus on exterior elements
According to DJK Homes Eco-Smart Home, a green custom homebuilder, “When working on your Modern Farmhouse exterior, consider layering white lap siding and board and batten to create texture at the front elevation. Incorporating a standing seam metal roof over the porch or accenting a row of windows adds a contemporary touch. To infuse natural elements, use stained cedar accents at the front columns or add gable details for a sophisticated yet rustic look.”
Modern Farmhouse – The bottom line
Modern farmhouse design effortlessly blends the charm of traditional farmhouses with contemporary elegance, creating a timeless and inviting atmosphere. Whether you’re drawn to its neutral color palette, use of natural materials, or open floor plans, there are many ways to infuse this style into your home.
Expert tips, such as mixing old and new elements and prioritizing functionality, can guide you in achieving the perfect modern farmhouse look. With its harmonious combination of rustic and modern elements, this design style offers a warm and welcoming aesthetic that stands the test of time.
Another independent brokerage has chosen to align with RE/MAX. Yakima Valley, Washington-based The Real Estate Collective, is RE/MAX’s latest franchise, according to an announcement on Tuesday. The brokerage will now operate under the name RE/MAX The Collective.
The new firm is owned by Haley Larson, who joined RE/MAX with her 17 agents. In 2022, Larson’s agents achieved $55 million in sales volume, according to the release.
“The education, the systems and the years of tried and true behind the RE/MAX brand is nothing short of excellent,” Larson said in a statement. “I love the RE/MAX values and the company’s emphasis on technology while not replacing the agent.”
Larson started her career in real estate as an agent at a large national franchise in 2014. After building her own team at the franchise, she set out to open a boutique firm in 2022, before ultimately deciding to align with the RE/MAX brand.
“I know this decision will fast track the growth of the office and fill a national voice here in Yakima,” Larson said.
RE/MAX The Collective will serve buyers and sellers throughout Yakima, Ellensburg and Cle Elum and it will specialize in rural and residential properties as well as large agricultural farms.
Larson said she is currently looking to grow the firm by bringing in more real estate agents.
Last week, California-based RE/MAX Proper, another RE/MAX franchise affiliate, announced that it had acquired All Nations Realty and Investments, an independent brokerage in Rancho Cucamonga.
There is a tremendous fascination with mysteries. Many cannot get enough of these types of stories, whether it be mysterious deaths, disappearances, or unexplained happenings. Anyone who listens to murder podcasts or watches Dateline understands.
That interest can also be in fictional mysteries, a genre that is one of my favorites. There is a multitude of tremendous mystery films to discover. An online forum discusses these types of movies and some of their fine qualities, such as an intelligent (and often attractive) main character and the compelling nature of solving the case or problem in the story.
1. Murder on the Orient Express (2017)
One of Agatha Christie’s greatest stories featuring the brilliant and intrepid detective Hercule Poirot gets the remake treatment in this 2017 film from star/director Kenneth Branagh. Aboard the glamorous Orient Express, which travels through the snowy mountains of Europe, a man is murdered in his cabin during the night.
1. Murder on the Orient Express (2017)
Poirot takes it upon himself to solve the crime with challenging clues, suspects, and misdirection at every turn. This film is well-acted and directed, with a genuinely surprising and unexpected resolution to the mystery.
2. Clue (1985)
The family board game featuring characters Colonel Mustard and Professor Plum seems like something other than apt source material for a cla-ic movie. And yet Clue works so well because it features the game’s basic mystery tropes and elements and adds a healthy dose of zaniness.
2. Clue (1985)
In this story, a group of individuals receives invitations to a grand mansion on a stormy evening, utterly unaware that their host, Mr. Body, holds incriminating secrets over each of them. When Mr. Body meets an untimely demise, they find themselves entangled in a comical quest to unravel the mystery of his death. This hilarious film promises plenty of laughs along the way.
Clue is unique in that, much like the game, there are many possible suspects, murder weapons, and locations in the house. Multiple endings were filmed, and you can choose to watch a single conclusion or all the various ones. It’s raucous fun.
3. Rear Window (1954)
Alfred Hitchcock’s Rear Window, which stars James Stewart and Grace Kelly, is one of the most unique and riveting mysteries ever. And that is because it takes place in one small location with the mystery playing out right in front of the characters.
3. Rear Window (1954)
The movie follows a photographer named Jeff, who has a broken leg and uses a wheelchair until it heals. With little to do to pa- the time, Jeff spends his days looking out his rear window at the courtyard and apartments across from his.
Upon witnessing his neighbor’s peculiar behavior, he begins to suspect that the man may have killed his wife. Before long, Jeff’s girlfriend, Lisa, and housekeeper, Stella, also become convinced of this unsettling possibility. As they unite to uncover the truth, the unfolding events on-screen deliver some of the most heart-pounding and suspenseful moments ever captured.
4. Knives Out: A Gla- Onion Mystery (2022)
The sequel to the original Knives Out movie by writer/director Rian Johnson once again features detective Benoit Blanc and his unique demeanor and deductive skills on full display. Blanc is invited to join in a weekend at the private estate of a tech billionaire, along with a group of their steadfast friends.
4. Knives Out: A Gla- Onion Mystery (2022)
They may or may not all be terrible people, as multiple crimes must be solved, and the truth is very complicated. This film’s plot is even more mysterious than the first, with surprising twists and an exceptionally entertaining cast.
5. Sherlock Holmes (2009)
One of the best depictions of Sir Arthur Conan Doyle’s cla-ic detective Sherlock Holmes is this Guy Richie-directed gem that stars Robert Downey Jr. and Jude Law. The movie has a gorgeous moody atmosphere and stylish direction, with Downey and Law proving formidable on-screen.
5. Sherlock Holmes (2009)
The film’s riveting mystery involves a sadistic man named Lord Blackwood, his unexplained return from the grave, and a plot against the British parliament. Holmes and Watson are thrust into this dark plot, and it plays out with fun, tension, and excitement.
6. Death on the Nile (2022)
Kenneth Branagh’s second turn at the Hercule Poirot character is just as entertaining and captivating. This story follows a group of friends and family aboard a small steamboat to celebrate a wedding. The awkward moment is when the groom’s former love arrives with the intent to spoil the fun.
6. Death on the Nile (2022)
When the bride ends up murdered, the suspect feels obvious. But things are not what they seem, making this one of the most mind-boggling cases for Poirot. Chances are, the audience will also be guessing until the end.
7. The Fugitive (1993)
The Fugitive may not be the most obvious choice when considering mystery films, but it certainly counts. Harrison Ford stars as Dr. Richard Kimble, a man falsely accused and convicted of murdering his wife. When an accident allows him to escape, Kimble goes on the run, determined to find the real culprit, while a curt U.S. Marshall relentlessly pursues him.
7. The Fugitive (1993)
The Fugitive is a fantastic thriller, but the mystery of who killed Kimble’s wife is just as compelling. Led by Ford’s exceptional performance, the audience is rooting for him as the truth unfolds.
8. Enola Holmes (2020)
The Sherlock Holmes story gets a fresh new take on the characters with Enola Holmes, Sherlock’s feisty and equally brilliant younger sister. Enola is reaching the age where society, and her brothers, expect her to “act like a proper young lady.” But Enola has no desire to do so, having been raised by her mother, who taught fencing and martial arts alongside literature and history.
8. Enola Holmes (2020)
Enola sets out to find her when her mother mysteriously disappears and stumbles upon an a-a-ination plot targeting a young Duke. This film is fantastic, especially the fun, tongue-in-cheek way Enola breaks the fourth wall and talks directly to the audience. And it’s great fun watching the two mysteries unfold and begin to intertwine.
9. The Forgotten (2004)
The mystery of The Forgotten is a chilling one. The film’s protagonist, played by Julianne Moore, is a mother grieving the loss of her son, who, along with a group of other children, inexplicably vanished on a flight. She is not giving up hope. But one day, her world changes when everyone around her denies her son exists.
9. The Forgotten (2004)
Her tireless effort to discover the truth and find her son makes for a thrilling but poignant film showcasing the depth of a mother’s love. The ending is wild but wholly satisfying.
10. Unknown (2011)
If you are looking for a different kind of mystery with an exceptional leading man, Unknown is the way to go. Liam Neeson had carved out a niche in the film industry with action thrillers. Unknown is one of the greatest because it offers not just action but also entirely unexpected twists.
10. Unknown (2011)
The mystery laid before Neeson is one of identity. After a car accident leaves him in a coma, he wakes to find another man claiming to be him. However, his wife, nor anyone else, seems to know him. As he attempts to regain his identity, the race is on to thwart an even more sinister plot. This layered and engrossing film is a must-see for mystery fans.
Source: Reddit.
25 Extraordinary Sequels and Remakes That Outshine the Originals
Every once in a while, a movie sequel or remake surpa-es the original film. After polling the internet, “Name a single movie where the sequel or remake was better than the original?” Here are the top-voted responses.
25 Extraordinary Sequels and Remakes That Outshine the Originals
25 Blockbuster Films With Behind-The-Scenes Turmoil Unknown to the Public
Several big movies with significant nightmare productions have some seriously delicious tea. After a recent poll on the internet, here are twenty-five films with disasters that made filming difficult.
25 Blockbuster Films With Behind-The-Scenes Turmoil Unknown to the Public
These 7 Celebrities are Genuinely Good People
We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble?
These 7 Celebrities are Genuinely Good People
Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.
These 10 Activities Are an Immediate Red Flag
We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
These 10 Terrible Movies Are Still People’s Favorites
Want to learn how to invest in self-storage? I have stored boxes of my stuff plenty of times over the years and there’s a good chance that you have as well (or perhaps you know someone who has). Investing in self-storage facilities can be a relatively low-risk asset for people looking to diversify their income…
Want to learn how to invest in self-storage?
I have stored boxes of my stuff plenty of times over the years and there’s a good chance that you have as well (or perhaps you know someone who has).
Investing in self-storage facilities can be a relatively low-risk asset for people looking to diversify their income streams. Or, perhaps you’re looking for a full-time income and are looking for your own business to start!
So, what exactly is investing in self-storage?
It is when you put your money into self-storage facilities and rent out units to renters.
I have personally used self-storage facilities for many reasons over the years for a short-term period, and nearly every single time I think about the profitability of it all and how passive it seems to be a self-storage owner or self-storage investor.
There are usually no customers at the facility (I’ve almost always been the only one there when dropping off or picking up), but every unit is being rented. Seems like an interesting way to make money with not too much work!
Plus, over 9% of households pay for self-storage units, and there is a lot of demand for new facilities.
Quick Summary
Self-storage investing can be a way to make money and run a business with low expenses
There is a lot of demand for storage units, with many businesses having a very long waitlist
If you don’t want to run a business, you can also buy shares in an REIT or even just rent out your garage or basement
What is Self-Storage Investing?
To put it simply, self-storage investing is when you invest in storage facilities.
More and more people need storage units for many different reasons such as moving, downsizing a home, needing a place to store something that a person doesn’t have room for (such as an RV or boat), or even businesses that are storing extra inventory.
For example, someone might need a short-term lease to store their belongings due to being in between homes (like if they are moving but their next home isn’t ready yet). Or a person on a long trip may decide to sell their home, but they need a place to store their important items.
If you decide to invest in self-storage, you have a couple of options. You can start by purchasing and owning a facility yourself or passively invest by buying shares in a self-storage REIT (Real Estate Investment Trust). I will be going over each of the options further below.
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Is Self-Storage a Good Investment?
Yes, deciding to invest in storage units can be a good idea.
According to Neighbor, the average profit margin on a self-storage unit is around 41%, and they typically have high occupancy levels of around 92%.
One of the main positives of investing in self-storage is being able to earn income with less work (you’re not dealing with customers all day long – people tend to store their stuff and not visit it often).
Self-storage facilities usually have low expenses compared to other types of commercial real estate investments. Also, self-storage is usually recession-resistant as people still need to store their stuff.
Another benefit of investing in self-storage is the flexibility it offers because you don’t need very many employees to run a storage lot. Some lots that I’ve been to don’t even have any employees – instead, you call the owner when you want to get your stuff and they then send someone down. People tend to store their stuff and not touch it for a while.
Related: 18 Passive Income Ideas To Earn $1,000+ Each Month
Types of Self-Storage Facility for Investment
When investing in self-storage facilities, you may not know that there are a few different types.
This section will discuss the different self-storage facilities you can invest in.
1. Climate-Controlled Storage
Climate-controlled storage is something that more and more people want these days because it can protect their belongings from temperature changes and humidity.
After all, many places get very hot weather, and storage units can get quite hot inside. You don’t want your things to melt into each other.
These types of units are good for storing items like electronics, artwork, or documents.
Now, your location is important in deciding if you need climate-controlled self-storage, as areas with extreme temperatures or humidity obviously will need AC more. For example, a storage facility in Florida may be more likely to have air conditioning than a facility in Alaska. And, a facility in Alaska is more likely to have heat than a storage unit in Florida.
2. Mixed-Use Storage
Mixed-use storage facilities combine multiple types of storage units in one location.
For example, these types of facilities may have climate-controlled, drive-up, boat, and RV storage all in one place. Many storage facilities are like this. They cater to different customer needs and tend to have a broader target market due to being able to store so many different types of items.
People tend to like these forms of storage as they can store all of their belongings in one place, instead of having their stuff scattered across town.
3. RV and Vehicle Storage
With so many people owning RVs and extra vehicles, the demand for storage has increased over the years.
Also, many neighborhoods simply do not allow for RVs or extra vehicles to be parked in front of their home (or even in their driveway, backyard, etc.), so a storage lot is needed.
Some storage facilities may even just be massive warehouses where people can store their RVs, valuable cars, and boats inside.
We have stored an RV in a place like this many times. We have found the typical rent to be around $5 to $10 per foot for our RV in an indoor parking lot, so you can see how quickly storage revenue can add up! Some businesses even have private RV units, and those fetch a much higher rate, such as $400-$600+ per month.
4. Boat Storage
Boat storage facilities specialize in safe storage for boat owners during the off-season or when not in use. These types of facilities typically have long waitlists too.
Boat storage businesses sometimes have both indoor and outdoor options (or they may focus on one or the other), as well as extra services like boat maintenance, hauling, launching, and more.
Coastal regions or areas with nearby water access (such as Florida) are usually good locations for investing in boat storage facilities as there are more boats, of course.
We have used boat storage facilities many times over the years to store our own boat. The amount you can make per boat can be anywhere from a couple hundred to a couple thousand dollars each month, depending on the location and the type of boat (catamaran vs. small fishing boat, for example) you can store. We have paid anywhere from around $1,200 to over $2,000 a month in the past for boat storage.
5. Drive-Up and Outdoor Storage
This is the type of storage that pretty much everyone has seen, as they are very common.
With this type, customers can drive directly to their storage unit, making loading and unloading much easier. These types of facilities are usually single-story buildings. Many times they do not have AC or heat.
Drive-up and outdoor storage facilities give renters an easily accessible storage solution.
How to Invest in Self-Storage
If you want to invest in self-storage, there are a few different ways to do so.
1. Buy an Existing Self-Storage Facility
One of the easiest ways to enter the self-storage market is by purchasing an existing business, such as those for sale by mom-and-pop operations.
This can save you time as everything is in place and you already have customers with rented units. Yes, you can improve some of their processes, but a lot of the hard work is already done for you.
But, purchasing a facility can be expensive upfront, though, because you will be buying a business with land, a building, and an existing customer base.
Just as an FYI – As you’re looking for storage facilities that are for sale, you may come across different classes. Class A facilities usually are higher-quality climate-controlled storage units, whereas Class B and Class C facilities may be lower-quality.
Buying an existing storage lot can possibly make you more money than investing in REITs (discussed further below), but it also means more hands-on management and responsibility because you will be actively running a business and managing employees.
2. Build a New Self-Storage Facility
There are around 2 billion square feet of storage space in the U.S. alone, but there is a high demand for more. Many self-storage facilities have long waitlists even!
I have called many storage lots only to find out that they had waitlists that were years long. I have even several times called every single lot within a few state radius, and found that every single one had a waitlist.
Yes, the storage business is really in that much demand!
As a self-storage investor, you can take advantage of this high demand and build your own storage facility.
To create a self-storage facility from the ground up, you will need to do the following:
Find land to buy – Once you know that an area needs a storage facility, you will need to find land to buy to build on. You will also want to make sure that it is easy to drive to (for example, if you are building an RV storage lot, you don’t want low bridges as the only way to get to your lot because no one will be able to get there then).
Build – After you buy the land, you will need to think about what you want your facility to look like, then hire a construction company to build your plan.
Open up for business– Once the facility is built, you will need to market it and get customers. You will also want to set up the systems to manage daily operations effectively and as passively as possible.
Self-storage is in demand, so building a new storage business can be a way to get started and make money.
3. Buy Shares in a Real Estate Investment Trust (REIT) That Focuses on Self-Storage
If you want to invest in self-storage without actually owning and managing a business, one way is to invest in an REIT.
REITs are a type of investment that allows you to buy shares in a company that owns self-storage facilities. Think of it like shares of stock in a company that you can buy.
With REITs, you can invest in a portfolio of self-storage properties without physically owning or managing the facilities yourself.
This is more passive because you don’t need to hire employees or do maintenance checks.
4. Rent Your Space on Neighbor.com
If you have extra space in your own home such as a garage, closet, driveway, or spare room, you can rent it out as storage space through a platform like Neighbor.
With this site, you can earn $100 to $400+ each month (the rate you can get depends on demand in your area and the type of storage you are renting out).
Here’s how Neighbor works:
Sign up for a free account – Create an account on Neighbor by clicking here.
Describe your space – Write a detailed description of your space, including the dimensions, location, and any features (such as air conditioning or heat). Add pictures of the space as well so that potential renters can see what you are renting out.
Set your price – Choose how much you want to charge for renting your space.
Manage rentals – Connect with interested renters, agree on terms, and manage ongoing rental contracts, all through the Neighbor platform.
You can learn more at Neighbor Review: Make Money Renting Your Storage Space.
Advice for managing a self-storage facility
If you decide to run your own storage facility, then here are my tips for new self-storage operators.
Making money from self-storage
To make money from your self-storage facility, you need to think about what your customers want. So, you may sell amenities to your renters, such as vehicle washing, starting up their vehicle or checking on it, electrical plugins to charge vehicles or RVs, and so on.
You’ll also want to think about how much money it will cost you to actually run the business. Will you need to hire workers? How much will maintenance cost you so that you can keep the facility in good condition?
Security in self-storage facilities
Security is very important for customers when choosing a self-storage facility. Customers care about their stuff and they don’t want anything happening to it, such as it being stolen.
So, you will want to make sure that your facility has a lot of light (especially at night time), security cameras aimed at different angles, and gates with codes. This helps your customers feel safer about leaving their stuff at your storage facility, and also helps to protect your business from liability issues and bad reviews (for example, if a person has their stuff stolen from your facility, they are likely to leave a bad review and this can cause others to not use your storage units as well).
Frequently Asked Questions About How To Invest In Self-Storage
Here are answers to common questions about investing in self-storage.
How can I find a self-storage business for sale?
To find a self-storage business for sale, you can start by searching on websites like LoopNet and BizBuySell. I took a quick look at both of these sites and found many for sale quite easily from anywhere in the hundreds of thousands to in the millions of dollars price range.
What are the best self-storage stocks to invest in?
The best self-storage stocks for you to invest in will depend on your own money goals and the amount of risk you want to take on. Unfortunately, I cannot tell you which is the best self-storage stock, as I am not your financial advisor and I do not know your specific situation. But, I can tell you which ones are popular.
Some of the most popular and best self-storage stocks include Public Storage (PSA), Extra Space Storage (EXR), and CubeSmart (CUBE).
Which self-storage REITs have the best returns?
Real estate investment trusts (REITs) are a popular way to passively invest in self-storage facilities. Several well-known self-storage REITs include Life Storage (LSI), National Storage Affiliates (NSA), and Simply Self Storage (SSS).
Keep in mind that past performance and dividends do not mean that the same will be true in the future, so it’s important to do your own research.
What risks are there with investing in self-storage?
Like with all businesses, there are risks when it comes to self-storage. Some risks include competition, changes in demand, and possible natural disasters that could hurt the facility (such as a severe storm or a flood).
Also, managing a self-storage facility will, of course, require at least some time from you and may even require employees, so you should also think about operational costs and business management.
How profitable can a self-storage business be?
The amount of money that a self-storage business can make depends on many things such as location, demand, and operating costs.
Can owning a self-storage unit generate passive income?
Having a self-storage facility can earn you passive income through rental fees. But, managing a self-storage facility also requires that someone works at the business, to check people in, show units, and check on the property. You could hire employees so that it is more passive for yourself.
You can also earn passive income by investing in self-storage REITs or stocks instead of owning and running a storage facility.
Does self-storage do well in a recession?
Self-storage in the past has performed relatively well during recessions, as people often downsize their homes or need temporary storage. Of course, though, the past doesn’t mean that it will always do well. So, it is always best to do your research and prepare as best as you can.
What is the future outlook for self-storage?
The future for self-storage looks to be positive, as there is a lot of demand for storage units and I’m still constantly seeing waitlists everywhere. In fact, whenever I need to store something even for just a few months, I’m always being told that I need to call a year in advance for a spot.
Many storage facilities have a high occupancy rate, long waitlists, and cannot keep up with demand.
How To Invest In Self-Storage – Summary
I hope you enjoyed today’s article on how to invest in self-storage.
If you are looking to add a new asset class to invest in, becoming a self-storage investor can be an interesting way to bring in a stable cash flow and make more money.
Self-storage is in high demand too, with many businesses currently having a long waitlist.
Factors such as location, demand, the quality of facilities (Class A, Class B, and Class C), and the type of storage lot all can change the success of a self-storage investment.
Are you interested in learning how to invest in self-storage?