boston

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If you prefer to get around on two wheels instead of four, check out Walk Score’s list of the top 10 bikeable cities in the United States.

Here is a countdown of the top bikeable cities and a look at why they made the list.

If you’re in the market for an apartment, knowing their Bike Score might help you pick the city where you can live on wheels!

For the avid cyclist, having a safe city to bike around in is a high priority. According to the website, the Bike Score of a city is determined based on factors including the bike-friendliness of the terrain, how many bike lanes have been established, and how many people commute via bike there. Basically, the higher the number, the better the biking!

10. Chicago, IL: 61.5 (out of 100)
Chicago, IL, comes in at number 10 in the country on the most bikeable cities list. This is in large part to the city’s “Bike 2015” plan, a city government initiative to increase bicycle use and safety in Chicago. The program is implementing many measures to make the streets of Chicago more bikeable, like adding bike parking across the city.

9. New York, NY: 62.3
New York, NY, has long had an active and vocal cycling community, with nonprofit organizations such as Bike New York working to keep the city bikeable. New York has now launched Citibike, an affordable bike sharing system where bikes are placed in the city at predetermined spots. You can rent a bike for a day or a week, and return it at any Citibike rack in the city.

8. Tucson, AZ: 64.1
The mild climate in Tucson, AZ, makes for perfect biking weather nearly year-round. Add to that the multitude of bike-friendly streets and the no-cars-allowed Urban Loop, and you’ve got a cycler’s paradise.

7. Seattle, WA: 64.1
In 2007, Seattle, WA, introduced its Bicycle Master Plan, a city-wide plan to make Seattle streets more bikeable and safer for cyclists by 2017. The Seattle Department of Transportation also offers a popular free biking map of the city that is available in paper form or online in an interactive trip-planning version.

6. Washington, D.C.: 65.3
The nation’s capital is full of bike paths and flat terrain, making Washington, D.C., easy to get around by bike. The Capital Bikeshare program lets you try out biking the city from 58 locations. You can test the waters before buying a bike of your own!

5. Boston, MA: 67.8
Boston, MA, has long been known for being friendly to alternative forms of transportation, so it’s no surprise that it is a top bikeable city. The city even offers awards to businesses that make it easier for employees and customers to ride instead of drive.

4. Philadelphia, PA: 68.4
Philadelphia, PA, is already a top bikeable city, but the city is raising the bar even further with its Pedestrian and Bicycle Plan. Dedicated to safety and encouragement, the plan aims at prioritizing pedestrian and bicycle improvements to city streets, policies and programs.

3. Denver, CO: 69.5
Denver, CO, boasts 300 days of annual sunshine, the largest city park system in the country, 650 miles of paved off-road bike trails and many bikeable city streets. It’s no wonder that cyclists are thrilled to live in the Mile High City.

2. San Francisco, CA: 70.0
San Francisco, CA, has a temperate climate, making it an ideal bikeable city. Though tourists might be turned off by the city’s famous hills, residents know that the lack of cheap parking make cycling a wonderful alternative to driving.

1. Portland, OR: 70.3
Topping the list of top bikeable cities is Portland, OR. This beautiful city offers a fabulous backdrop for cyclists commuting to work or just out for a leisurely ride. The Portland Bureau of Transportation is dedicated to making the city a safe and friendly place for cyclists to ride, with plenty of programs and resources in place to support cyclists of all ages and skill sets.

Photo credit: Shutterstock / Mel-nik

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Save more, spend smarter, and make your money go further

There’s not much that can make the pain of tax season less taxing, but restaurants sure try.

Come April 15 (tomorrow!), once your return is filed and the check in the mail to Uncle Sam, be on the lookout for tax-themed freebies and deals.

Be on the lookout for more offers from both national chains and local spots as tax day approaches—many restaurants announce their deals at the last-minute.

For now, add these to your list of possibilities:

Boston Market

The “Tax Day Chicken Meal Deal” offers two half-chicken individual meals for $10.40, no coupon required.

Each meal comes with half a rotisserie chicken, two sides and fresh cornbread. Available at all locations.

Bruegger’s Bagels

Sign up through the eClub or Facebook page by April 10 to get a coupon for a $3.50 “deduction” on the chain’s Big Bagel Bundles.

That brings the price to just $10.40.

Cactus Jack’s

Tax-day diners can redeem a special “1040 dining certificate” for $10.40 off the purchase of two entrees.

Good at any of the company’s Great New Hampshire Restaurants.

California Tortilla

Make a purchase on April 15 and say the code word “taxes shmaxes.”

You’ll be rewarded with a free order of chips and queso or salsa with your meal. Available at all locations.

Cohen Restaurant Group

On April 14 and 15, the California-based restaurant group has a coupon for $10.40 off the purchase of two meals and two drinks at participating locations.

Great American Cookie

Through the “Incomes the Sweetness” promo, tax-day visitors will receive a free original chocolate chip cookie.

Participating locations only, and only while supplies last.

Per the company’s announcement, “No purchase or proof of completed taxes is necessary.”

Hard Rock Cafe

Diners can sing for their supper on April 15.

After 5 p.m., pick a song and sing it in its entirety on the restaurant’s live stage, to earn a free entrée.

Participating locations only.

Muckleshoot Casino

The Auburn, Wash., casino’s Spice Bay Buffet will offer a special lunch and dinner buffet for $10.40 per person.

Available 11 a.m. until 11 p.m.

Orange Leaf Frozen Yogurt

Print out a coupon from the chain’s Facebook page to get a cup full of frozen yogurt and toppings for just $4.15, about 50 percent off the usual price.

Participating locations only.

Frugal Foodie is a journalist based in New York City who spends her days writing about personal finance and obsessing about what she’ll have for dinner. Chat with her on Twitter through @MintFoodie.

Save more, spend smarter, and make your money go further

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Source: mint.intuit.com

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If you never watch PBS’ “Frontline,” you’re missing out on some of the best journalism on TV. I don’t agree with every viewpoint they advocate, but each episode is thought-provoking and well done.

Recently, “Frontline” focused on “The Retirement Gamble,” as they titled the piece. It can be summed up by this quote by Zvi Bodie, a professor of management at Boston University: “401(k) plans really place the burden on the individual participant to have an adequate retirement. And the vast majority of ordinary people don’t know how to do that.”

It’s true. As if you don’t have enough going on in your life, you have to become a part-time financial planner and investment manager. You need to figure out how much to save, how to invest your savings, and how to withdraw it in a way that makes it last forever or until you die, whichever comes first.

Of course, you can always get help from the financial-services industry — in particular, the mutual fund providers, since those are the type of investments in most workers’ retirement plans. However, many of these folks are padding their own retirement accounts at the expense of yours. Here’s how economist Teresa Ghilarducci explained it to “Frontline”: “The 401(k) is one of the only products that Americans buy that they don’t know the price of it. It’s also one of the products that Americans buy that they don’t even know its quality. It’s one of the products that Americans buy that they don’t know its danger. And it’s because the industry — the mutual fund industry — has been able to protect themselves against regulation that would expose the danger and price of their products.”

I’ll add another shortfall of the 401(k) industrial complex: You don’t have a choice. The 401(k) is chosen by your employer, who might be keeping costs low by passing the costs along to you. I’m on the 401(k) committee at The Motley Fool, and I can tell you that it does indeed cost an employer money and time to provide a retirement plan; it’s not as easy as opening an IRA with a discount broker. The plan has to meet all kinds of government-mandated tests to make sure that the plan doesn’t disproportionately benefit higher-income employers and owners. So companies that offer a retirement plan deserve some level of gratitude, especially if they match employee contributions. But that doesn’t mean these companies spend the time and money necessary to make it the best plan possible.

Then there are the funds themselves. The “Frontline” episode included an interview with one of my heroes, Vanguard founder John Bogle. His best quote: “Do you really want to invest in a system where you put up 100 percent of the capital … you take 100 percent of the risk, and you get 30 percent of the return?”

Where did the other 70 percent of return go? To the fund companies, due to high fees and low performance — in Bogle’s words, “The magic of compound returns is overwhelmed by the tyranny of compounding costs. It’s a mathematical fact. There’s no getting around it.”

My picking of bones

While I generally agree with “Frontline’s” call to arms regarding the malfeasance of the mutual fund industry, there are a couple of counter-points I would have liked to see them address. First off, the episode recommends index funds over actively managed funds, featuring more footage of John Bogle, one of the main figures in the birth of index funds. However, it would be interesting to ask him why Vanguard itself has had actively managed funds for decades. Perhaps even the most famous advocate for index investing sees some value in paying a fund manager to pick the investments. And, to Vanguard’s credit, the expenses on their actively managed funds are very low. I know because I own a few of them, including a few of their index funds.

The “Frontline” episode also had its nostalgia for the good, old days of defined-benefit pensions, when an employer would reward an employee after decades of service with a monthly check in retirement for life. Like many shows that bemoan the state of retirement in America, they clearly argue that those are better than 401(k)s. However, the truth is that these pensions have their own issues. First off, even at their peak, most Americans didn’t have a pension. At least with a 401(k), workers can save for retirement in a tax-advantaged account, something they didn’t have before these accounts became prevalent in the ’80s. Also, a traditional pension mainly benefited employees who worked for the same company for decades. If you left within, say, five years (as was the case when I was a teacher), you got nothing. The money in a 401(k), however, can be taken with you.

Plus, many pensions don’t have enough money to pay future benefits and are assuming (nay, praying) that unrealistically high investment returns will bail them out. Private pensions are backstopped by the Pension Benefit Guaranty Corporation, but that “safety net” itself is underfunded by more than $20 billion. Government pensions are backed by taxes, and they’re going to hit hard as more and more Boomers retire. So defined-benefit pensions are not the panacea as they’re often portrayed, often using film footage from the ’50s (as “Frontline” did).

Finally, the episode featured interviews with everyday Americans who have little in the way of retirement savings, portraying them as victims of the mutual fund companies. In many ways, they most definitely were. Yet, as these people sit in their kitchens and living rooms, explaining their predicaments to the camera, I can’t help but notice that they have nice furniture, large-screen TVs and cable. I admit that this is a bit callous of me, but I do have a little less sympathy for people with little in savings but plenty of luxuries. (Yes, cable TV is a luxury.)

Carpe 401(k)-em

The good news for you is that you’re taking control; you’re reading this blog and probably other sources of financial education. Hopefully you’re learning how to save for, and spend in, retirement, and how to evaluate mutual funds along the way. Planning your retirement is up to you; no one is doing it for you. Financial advisers have their place, as long as they’re fee-only and fiduciaries (i.e., legally obligated to put your interests first — a standard that doesn’t apply to the large majority of financial advisers). But however you manage your finances, ensure that it’s doing more for your retirement than someone else’s.

Source: getrichslowly.org

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The summer harvest season has finally begun here in Boston. Near my house, Farmers’ markets are popping up, brimming with fresh greens, ripe strawberries, and luscious radishes. Our first CSA share delivery of the season arrived last week. And my garden has started to cough up a few plump berries and herbs.

Make friends with the farmers
My family loves vegetables. The kids love kale chips and fresh strawberries. We all eat sugar snap peas by the fistful. Later in the summer, my husband and I will haul in the tomatoes that are just starting to grow in our yard and make as much salsa as we can.

Since we love vegetables so much, every summer I look for ways to economize on our fresh vegetables. There are two main aspects to this project: getting a good deal on the veggies, and making good use of them.

To get your veggies, you have several options:

Grow Your Own
J.D. has written extensively about the benefits, financial and otherwise, of growing a vegetable garden. Growing your own veggies is awesome. The more DIY you can be about it, the better deal you’ll get. For example, I paid about twenty-five cents for a packet of tomato seeds this spring that I grew half a dozen tomato plants from. When a few of them failed to thrive, I bought seedlings from my local garden shop. They cost $4 for a flat of six. Still a lot cheaper than buying fresh tomatoes, but much, much more expensive than starting from seed.

I find that growing your own vegetables is the most economical way to enjoy fresh summer produce, once you have a garden in place. Setting up your garden beds, buying tools and learning the ropes can be pricey the first year. After that, you’re looking at relatively small expenses for a lot of very high-quality produce.

If you have the time to invest in gardening. As one of my gardening guru friends likes to say, you can’t do half the work and get half the benefit. I’m a bit of a slacker gardener, and I still grow great veggies. But I don’t get nearly the haul my friend gets from the same amount of space, because I don’t put as much work into it as she does. I just plant some stuff and let it grow.

Not everyone can maintain a vegetable garden. Some people don’t have the space. Some don’t have the time. Some just really don’t enjoy gardening. If you’re not going to grow your own garden, you may want to get creative about how you buy your veggies.

Sign Up For A CSA
A CSA, or community-supported agriculture, is a program where a local farm sells shares of its summer produce directly to consumers. You buy a share for the season, paying up front. Then you get a weekly delivery of vegetables straight from the farm. You’re participating in the fortunes of the farm. If they have a great harvest, you get an abundance of produce at a great price. If it’s a lean growing season, you’ll get less.

It’s a great way to get fresh, local produce, but there are a few caveats.

For one thing, you need to be adventurous in your love of vegetables. You’ll get not only fresh heads of lettuce and juicy tomatoes, but a little of everything your farm grows. Kohlrabi. Brussels sprouts. Garlic. Sometimes we get vegetables in our share that I can’t even identify. This works for me because no one in my house is a particularly picky eater. We like trying new foods, and find a wide variety of vegetables exciting. But if you’d prefer to stick with your two or three favorites, a farm share might not be for you.

In addition to the adventuresome nature of a CSA, you want to be sure a farm share is a good value for you. I’ve experimented with several CSAs over the years. I found that they vary widely in value. They all cost different amounts, and you get different quantities of vegetables. Find out what the rough size of your share will be each week and do some math to compare those prices to your local farmer’s market or grocery store. Are you really getting the better deal?

The answer seems to be “usually”. Organic CSAs tend to be more expensive than conventional ones, but also a better bargain: you pay less for your organic produce getting it from a CSA than you would buying it at Whole Foods. At least in my neighborhood. Again, each farm share varies. The important thing is to do the math. Don’t assume it’s a good deal just because you’re getting it in bulk.

For a farm share to be a really good deal, you have to be sure you’ll use your full share of veggies each week. It’s like buying anything in bulk: it’s only a bargain if you use it. Seriously consider how many vegetables your family will eat, and how much time you’re willing to spend preparing and preserving your goodies. A farm share is a big commitment. If you let the produce go to waste, you’re wasting your grocery money as well.

Shop Farmers’ Markets
Farmers’ markets aren’t exactly a cheap source of summer produce, but they’re still often a great value. You may pay a little more for your food at a farmers’ market than you would at the local supermarket, but you’re getting much fresher, higher-quality produce. Often you’ll get things you just can’t find in the store.

To get the best deals at your farmers’ market, get to know the farmers who sell there each week. Ask about buying seconds quality produce, like bruised peaches or tomatoes. They’re not as pretty as the premium stuff, but they make great jams and sauces.

However you decide to get your summer produce, you’ll want to take care with how you use it. Getting a good deal on fruit and vegetables is just the first part of the equation. Next week I’ll talk about money-saving strategies for using and preserving your summer bounty so you can enjoy it all year long.

Source: getrichslowly.org

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Discover your artistic, academic side in Boston.

Boston is a vibrant and historic city that offers a great quality of life for apartment renters. The city is known for its rich culture, world-class universities and thriving economy, making it an attractive destination for students and young professionals. The city is home to a diverse population, and its neighborhoods offer a variety of housing options, ranging from modern apartments to historic brownstones.

One of the advantages of living in Boston as an apartment renter is the city’s excellent public transportation system, which includes subway trains, buses and commuter rail lines. This makes it easy to get around the city and explore all that Boston has to offer, including its famous landmarks, museums and cultural events.

Additionally, Boston is a walkable city, with many neighborhoods offering easy access to shops, restaurants and other amenities. While Boston is an expensive place to live, there are many reasonably priced apartment options available, and the city offers a high quality of life for those who choose to call it home.

What is the average price of rent in Boston?

The average rent for a one-bedroom apartment in Boston is around $2,500 per month, while the average rent for a two-bedroom apartment is around $3,200 per month. It’s worth noting that these prices can vary depending on the location and the amenities of the apartment, and they can change over time due to market conditions and other factors.

Top places to live in Boston for $3,000

Between the access to public transportation, the city vibe and the perfect blend of sports and academia, renters of all interests can expect to make a home out of Boston. We’ve rounded up our top picks for Boston apartments at or under the $3,000 price tag, without sacrificing any amenities.

this centrally located residential area gives you access to tourist attractions

Source: Rent. / The Parkside Luxury Apartments

For $2,275, you can get a 310-square-foot studio at The Parkside Luxury Apartments. You have two layouts to choose from for this price but the apartment certainly doesn’t lack the luxury details. Each apartment has hardwood floors, crown molding and granite countertop finishes.

The Parkside Luxury Apartments sits in the popular neighborhood of Fenway, known for hosting the baseball team the Red Sox. This well-known neighborhood adds curb appeal to the apartment and promises luxury inside as well as outside on the block.

Source: Rent. / The Residences at Rivers Edge

Your social life will flourish in the community-building-centric apartment. The Residences at Rivers Edge offer studio apartments for $2,982 which feature dark hardwood finishes and luxurious balconies for outdoor entertaining. Beyond the apartment, residents are assured plenty of common areas to utilize for work and play.

Nestled in the vibrant neighborhood of Wellington, this 222-unit community offers an ideal location for Bostonians of all ages to enjoy a diverse range of amenities and convenient access to the city’s attractions. With its modern design and welcoming atmosphere, residents can experience the perfect blend of comfort and urban living here.

Source: Rent. / The Towers at Longfellow

Soak in the stunning sights and sounds of Boston on the apartment balconies at The Towers at Longfellow where residents can enjoy breathtaking views of the city skyline and the Charles River. Whether it’s sipping morning coffee or unwinding with an evening cocktail, these balconies provide an oasis to truly experience relaxation.

This West End property is perfect for residents trying to stay under the $3,000 price tag, with studios starting at $2,735, allowing renters to find affordable luxury in the heart of Boston. Alongside the affordable pricing, the unique amenities offered by this property, such as a rooftop pool and fitness center elevate the renting experience.

Source: Rent. / The Emery at Overlook Ridge

Host your next book club or wine night around the communal firepit at The Emery at Overlook Ridge. One-bedroom apartments start at $2,479 for 711 square feet, top-of-the-line appliances, hardwood finishes and smart-lock technology. Whether it’s through the in-apartment design or building amenities, residents enjoy both indoor and outdoor spaces designed for comfort and entertainment.

Sat in West Revere, this complex is ideal for any renter no matter their preferences, offering a diverse range of studio and one-bedroom floor plans to cater to individual needs, whether one seeks a spacious apartment with scenic views or a cozy unit with a luxury feel. With its prime location and versatile options, this complex provides a welcoming community that suits the diverse tastes and lifestyles of its residents.

Source: Rent. / One Canal Apartment Homes

Waking up every day to the luxurious view of the West End neighborhood is a deluxe amenity in itself. For the price of $2,917, renters can live in a cozy studio apartment surrounded by amenities such as a state-of-the-art fitness center and a rooftop terrace and pool ensuring that the investment is worthwhile and provides an ideal city lifestyle.

One Canal Apartment Homes, which holds 320 units, is a renovated and modern apartment complex with a mix of traditional amenities and unique apartment features, such as spacious walk-in closets and gourmet kitchens. With a blend of crisp white and dark hardwood finishes, the apartments create a stylish and comfortable living environment for its residents.

Source: Rent. / Avalon Brighton

If clean and modern is your desired apartment aesthetic, look no further than Avalon Brighton. With its prime location in the neighborhood of St. Elizabeth’s, near bustling shopping centers and convenient access to public transportation, Avalon Brighton offers both style and convenience for those seeking a contemporary urban living experience.

Studio apartments, starting at $2,930, feature top-of-the-line appliances, quartz countertops and stylish finishes, creating a chic and sophisticated atmosphere under the $3,000 price tag. The worthwhile experience extends beyond the apartment through the unique amenities like an on-site dog park and indoor firepit.

Source: Rent. / Troy Boston

Natural light is the star of the show in the apartments at Troy Boston, where residents are immersed in the sights and sounds of the vibrant South End neighborhood through the expansive windows and balconies. Residents also enjoy a range of amenities including a rooftop pool, fitness center and communal spaces which further enhance their living experience.

Studios, which start at $2,950, span over a 425 square-foot space that while small, maximizes functionality and provides residents with a comfortable living environment, making efficient use of every square foot. They are worthy of a spot on our list due to their modern finishes, including sleek appliances, high-quality fixtures and ample storage solutions, making the small space feel larger.

Source: Rent. / Hub 25

Joining a community when you rent an apartment is important and the amenities at Hub 25 offer that. From the social lounge and outdoor grilling areas to the fitness center and dedicated co-working spaces, residents have ample opportunities to socialize, unwind and engage in activities that create an inclusive living environment.

This Columbia Point property has studios starting at $2,457 and one bedroom starting at $2,712, offering residents a range of affordable options under the $3,000 budget. This ensures any resident can find their ideal living space without compromising on quality or location.

best places to live in boston - piano craft guild apartments

Source: Rent. / Piano Craft Guild

Renter creativity has the perfect canvas in the apartments at Piano Craft Guild. The stunning lofted apartments, which start at $2,900, have a mix of rustic brick and modern wood finishes that provide a unique backdrop for residents to personalize their living spaces and express their individual style. The floor-to-ceiling window details overlook the neighborhood of South End, adding to the overall apartment value.

The unique vibe of these lofts continues into the common spaces through the amenities like the outdoor bocce ball area, indoor bike storage rack and communal garden. These areas foster a sense of community and provide residents with opportunities to relax, socialize and engage with fellow renters.

Source: Rent. / Emerson Place

At first glance, the outdoor pool area at Emerson Place mimics a luxury hotel or outdoor spa, creating an oasis where residents can unwind and soak up the sun. For the starting price of $2,860 for a studio apartment, renters not only get a luxury apartment but also gain access to stunning communal amenities, making this complex an easy pick for our best places to live in Boston list.

Emerson Place, which sits in the neighborhood of West End, offers residents the perfect balance of savvy spending and convenience, with its close proximity to restaurants, shopping destinations and cultural attractions. Emerson Place provides a sophisticated and welcoming home for those seeking a vibrant urban lifestyle in the heart of Boston for under the price of $3,000.

downtown boston and the charles river from a waterfront neighborhood

Find your perfect apartment for around $3,000

Boston offers a variety of exceptional apartments for those seeking stylish and comfortable living spaces without breaking the bank. These apartments not only provide affordable luxury but also have desirable amenities, such as rooftop pools, fitness centers and communal spaces, fostering a strong sense of community and enhancing the overall living experience.

With their prime locations and modern designs, these apartments present the perfect opportunity to enjoy the vibrant and enriching lifestyle that Boston has to offer, all within a reasonable budget. Start your apartment journey today!

Methodology

Rent prices are based on an average from Rent.’s available rental property inventory as of April 2023. The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

Featured Image Source: Rent. / One Canal Apartment Homes

Source: rent.com

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It’s getting tougher for house hunters to find a home to buy, particularly in large cities, as the housing industry faces a dearth of inventory.

The number of homes for sale in 2023 decreased in 21 of the 50 largest metropolitan areas compared to this time last year, according to a new report from Realtor.com. San Jose, California, saw the steepest decline, with 35% fewer homes listed for sale this year. Sacramento, California, ranked second highest, with a decline of 27%; followed by Hartford, Connecticut, where listings were down 26%.

Real estate agents in those cities told CBS MoneyWatch that in addition to inventory declines, elevated home prices and mortgage rates have changed the way buyers shop and quelled sellers’ eagerness to sell.

“In Sacramento, homes under $500,000 are moving very quickly because buyers in that price range don’t have a lot of options,” said David Orr, an agent for Redfin in Sacramento. “The inventory is really tight because sellers are hesitant to list their current home when they have such a low interest rate.”

according to Realtor.com. 

4 cities where it’s cheaper to buy a home than rent

03:21

While competition for houses is intense in California’s capital city, Orr said buyers are being cautious about their bids and asking sellers to help with closing costs or to pay for a lowered interest rate.

“I am seeing multiple offers, but it’s not like last year, when everyone was like ‘Hey I’m going to give you a first-born child along with this offer,'” he said “Now, people are making offers a bit above or below the asking price.” 

Bidding wars are new norm

Braxton Warren, a real estate agent at Compass, said Sacramento homes are priced lower than nearby Seattle and San Francisco, which is also fueling hot competition there.  

“House hunters have acknowledged the shortage of options but have come to accept the reality of the situation,” Warren told CBS MoneyWatch. “Homes are under a bidding war with 20-30 buyers all in line for the same home.”

Meanwhile, in Connecticut, the Hartford area “has witnessed a significant decrease in inventory, resulting in a transformative market shift,” said David Krasnoff, a realtor at Compass. 

“Bidding wars have become the norm as every reasonably priced home brings in multiple offers, often exceeding the listing price,” Krasnoff said. 

Other cities that saw year-over-year inventory declines are:

  • San Diego (26%)
  • Milwaukee (23%)
  • Cincinnati (23%)
  • San Francisco (20%)
  • Chicago (18%)
  • Washington, D.C. (16%)
  • Rochester, New York (13%)
  • Seattle (11%)
  • Providence, Rhode Island (11%)
  • New York City (10%)
  • Los Angeles (10%)
  • Baltimore (8%)
  • Philadelphia (6%)
  • Detroit (5%)
  • Boston (4%)
  • Virginia Beach, Virginia (2.5%)
  • Minneapolis (2%)
  • Riverside, California (1%)
  • Cleveland (.5%)

Cities where the number of homes for sale increased were mainly in the South, including Austin, Texas; Birmingham, Alabama; Jacksonville, Florida; Nashville; and San Antonio. 

More women join construction industry as worker shortage keeps home prices high

03:01

A nationwide lack of inventory has become a major headline in the housing market with homebuyers now facing a triple whammy of higher mortgage rates, elevated asking prices and few options from which to choose.  

Inventory overall grew in May when compared to a year ago but the rate of growth has slowed over the past three months, according to Realtor.com. A shortage of skilled workers in the construction industry is partly to blame for the decline in new homes for sale, the National Association of Home Builders has said.

Despite higher prices, more than 4.2 million people bought houses in April, according to the National Association of Realtors. 

“The good news for sellers is that buyers are still out there and this month’s slower growth in the active inventory of homes for sale indicates that shoppers are in the market and actively searching for homes that fit their needs and budget,” Danielle Hale, Realtor.com’s chief economist, said in a statement. 

Khristopher J. Brooks

Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports.

Source: cbsnews.com

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Warehouse, Appraisal, Non-QM, RON Products; Reverse Mortgages: Catch the Wave; Mortgage Apps Continue Decline

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Warehouse, Appraisal, Non-QM, RON Products; Reverse Mortgages: Catch the Wave; Mortgage Apps Continue Decline

By:
Rob Chrisman

3 Hours, 24 Min ago

A biologist, a chemist, and a statistician are out hunting. The biologist shoots at a deer and misses five feet to the left. The chemist takes a shot and misses five feet to the right. The statistician yells, “We got ’em!” Are you selling your house? Me neither. Few people are: there are only about 564,000 active listings. That’s about 11,000 per state. In California, where there are 58 counties, that is an average of less than 200 per county. In Wyoming, the least populated state, there are 58 counties so that’s 190 listings per county. Of course, averages don’t apply like that, but it is important to keep things in perspective, and the overarching issue is a continued lack of supply and a strong demand impacting prices, affordability, and sales numbers. Can lighthouses help? Since 2000 about 150 lighthouses have been transferred to new owners, about 80 given away at no cost to agencies, nonprofits or educational organizations willing to maintain them, and about 70 auctioned off for a total $10 million so far. This year, six lighthouses are up for offer. (Today’s podcast can be found here and this week’s is sponsored by Lenders One, one of the largest mortgage co-ops in the country with a diverse mix of 250+ member companies and providers of an end-to-end solution independent mortgage professionals trust to drive profitability and growth. Listen to an interview with Verisk’s Kingsley Greenland on climate risk, stress testing, catastrophe modeling, and macroeconomic policy.)

Lender and Broker Products, Software, and Services

“Have you found yourself digging through loan files to find price concession records while an auditor awaits? Have you ever wondered if your margin is better or worse than your peers? Have you been looking for a way to track how competitive your pricing is, in real time? Optimal Blue, a division of Black Knight, offers data and analytics tools that provide this actionable business intelligence, and more! Our granular rate lock data provides key insights into your business, as well as benchmarking against 42% of all rate lock activity. Reach out to Optimal Blue now to learn how our data and analytics platform can help you develop smarter, more profitable pricing strategies!”

Beer – it’s not just for drinking anymore. In fact, beer is just one of many everyday items with multiple uses that would surprise you. Want another? Remote online notarization (RON) isn’t just for originations anymore. Recently, servicers have discovered the benefits of using RON for loan modifications, partial claims and even assumptions. On average, servicers reduced the average cycle time from 21 days down to 7 days. While we all know that time is money, the reduction in cycle time and carry costs resulted in a savings of about $500 per loan. In today’s environment where we all need to find savings to help improve our margins this is an easy way to get there. Email Suzanne Singer or stop by NotaryCam’s booth 22 at NS3 in St. Louis next week to learn more about the many uses of RON.

“No one does Non-QM like Newfi Wholesale! Our newly expanded Non-QM product suite offers 90% LTV up to $1.5M, loan amounts up to $4M, 2-1 buydowns, DSCR (no minimum ratio) 1-8 units, and alt-doc solutions that make sense for your borrowers. Most of all, we have a passion to close deals and about 1/3 of all of our funded Non-QM deals have common-sense exceptions! In the words of one of the brokers who work with us: “Looking for an amazing Non-QM lender? Newfi is your go-to lender.” We offer industry-leading Non-QM pricing, technology, and product innovation. For more information contact SVP, Non-QM Development & Strategy Dan Bayer or 925-584-0579.”

Tired of slow, low-quality appraisals? Try The Appraisal Marketplace. The Marketplace allows you to fulfill appraisal orders directly from your LOS, without relying on an AMC or managing a panel. Even better, by leveraging real-time appraiser performance data, its “Uber-style” algorithm matches every order with the appraiser that’s truly right for the job. This gives you the fastest turn times, lowest revision rates & lowest fee escalation rates in the industry. Seriously. Learn more.

“CWDL is committed to empowering our clients and friends with mortgage industry-specific education and insights, even when it’s outside of our core focus on audit, accounting, and tax. So, when our clients mentioned they’d like to better understand the perspectives of warehouse bankers and how they evaluate lenders, we organized a panel of industry veterans to share their insights. Join us for our webinar on June 15 to “Meet the Warehouse Bankers,” as we discuss such topics as when and how to best communicate with your warehouse partners; how warehouse banks evaluate counterparty risk in their clients; what lenders should consider or plan for regarding M&A, a winddown or facility consolidation; and much more. This webinar is free and open to all lenders who are looking for more insight into their warehouse relationships. To register, contact Kasey English.”

Agencies, Investors, Lenders, and Reverse Mortgage Biz

The last time I saw a stat, 10,000 people a day were turning 62. And a lot of them have equity in their houses. The National Reverse Mortgage Lenders Association points out that, “Homeowners 62 and older saw their housing wealth grow by 1.95 percent or $226 billion in the third quarter to a record $11.81 trillion from Q2 2022, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index… The increase in older homeowners’ wealth was mainly driven by an estimated 1.95 percent or $268 billion increase in home values, offset by a 1.93 percent or $42 billion increase in senior-held mortgage debt.” So, if you’re looking for a growth business…

Need a Pre-Qual? Plaza’s Reverse Mortgage staff will run a complete analysis of your submitted information and send the findings back to you via e-mail, typically within a few hours. The analysis details available funds, interest rates, fees, and other loan information.

Plaza Home Mortgage posted Video Marketing to Seniors. And brokers can use Plaza’s Reverse Calculator to run scenarios and you’ll quickly and easily see how much borrowers could receive, no personal information required.

Fairway Independent Mortgage Corporation has had a reverse division for many years and has seen continued growth.

CrossCountry Mortgage (CCM) announced that it is expanding its reverse mortgage division by making additional investments, resulting in what it calls “enhancements.” “Borrowers heading into retirement are seeking solutions that will benefit their future. CCM’s newly established Reverse One Team offers a specialized network of advisors and tools for loan officers to become certified specialists in originating reverse mortgage loans.”

Reverse training and certification programs among “forward” lenders are increasing. Fairway Independent Mortgage Corp. and Guaranteed Rate, for example, offer pathways within their organizations for forward professionals to become certified in reverse mortgages. Broker shops including C2 Financial also maintain a reverse training and certification program.

PHH Mortgage delivers for the entire mortgage lifecycle: non-delegated, best efforts, mandatory, bulk MSR, and reverse.

While bringing more forward specialists up-to-speed with reverse origination practices can certainly help to expand an LOs or lender’s business, it is well known that anyone interested in the business must be aware of some of the specific differences inherent in originating the product when compared with more traditional, forward mortgage options. And a solid month, volume-wise, might only be one or two loans.

Anyone interested should check out Reverse Mortgage Daily, and think about the use of video in their marketing and consulting with client’s families. “Homeowners aged 55 and over increasingly embrace online video as one of their preferred ways to research and discover information…68% of Baby Boomers use YouTube to watch videos. Half of them watch videos more than once per week, and they’re watching news, educational content, and DIY tutorials.”

Capital Markets: Housing Prices Ramping Up

The bad news is that mortgage applications continue to falter. The good news is that we finally had a little rally yesterday as bond markets responded to weekend news that President Biden and House Speaker McCarthy reached an agreement to raise the debt ceiling. Rates had risen of late as fears of a U.S. default gained momentum. A default would force the Treasury Department to pay higher interest on its bonds to convince investors to stick around, with mortgage rates and other borrowing costs tending to follow Treasury rates.

In Federal Reserve news, New York Fed President Williams discussed inflation, the labor market, and the importance of price stability yesterday by saying, “Inflation remains too high, and high inflation is hardest on those who can least afford to pay higher prices for food, shelter, and transportation.” He explained that the U.S. is seeing signs of a gradual cooling in the labor market, along with a rebound in labor force participation. Still, unemployment nationally remains historically low, at 3.4 percent.

The first trading day of a shortened week was headlined by house price indexes. The FHFA Housing Price Index was up 0.6 percent in March after increasing a revised 0.7 percent in February. The index was up 4.3 percent year-over-year, with prices in many western states starting to decline for the first time in over ten years. The fastest growing states were South Carolina, North Carolina, Maine, Vermont, and Arkansas. The declining states included Utah, Nevada, California, Washington, and D.C. Separately, the Case-Shiller home price index rose 0.7 percent in March, suggesting that the decline in home prices that began in June 2022 may have come to an end. The S&P Case-Shiller 20-city Home Price Index was down 1.1 percent in March with big declines out West, and the Southeast remaining the country’s strongest region.

Today’s calendar kicked off with the usual mortgage applications from the MBA for the week ending May 26. Mortgage applications decreased 3.7 percent from one week earlier, with activity expected to decline again following last week’s increase in yields amid increasing odds of a 25 basis points hike at the June FOMC meeting. During the reporting period, 30-year mortgage rates hit new highs for the year and their highest since last November.

Later this morning brings Chicago PMI for May, Job openings from JOLTS for April, and Dallas Fed Texas services for May. Four Fed speakers are scheduled: Boston President Collins, Governor Bowman, Governor Jefferson, and Philadelphia President Harker. The latest Beige Book will be released in the afternoon ahead of the June 13/14 FOMC meeting. The rest of the week will be dominated by the jobs report on Friday, the last jobs report before the mid-June FOMC meeting. Fed funds futures currently see a 60 percent chance for another 25-basis point hike. We begin the day with Agency MBS prices better by .125-.250 and the 10-year yielding 3.65 after closing yesterday at 3.70 percent; 4.40 percent on the 2-year.

Employment and Transitions

“Are you an account executive looking to change it up!? Why not Kind Lending!? At Kind, our family of diverse and talented Kind Ambassadors are the driving force behind our new approach to the mortgage experience. We are focused on serving the broker community and their borrowers by providing an array of products, top-notch service by experienced and friendly professionals and superior resources to support their business model. Founded by Glenn Stearns in 2020, Kind Lending is one of the fastest growing mortgage lenders in the country, building partnerships with our customers, who ultimately become family and our reason why. At the heart of it all, our people believe kindness matters and a client’s positive experience is everything. Come grow with us! Contact Delfino Aguilar, SVP TPO Production (619.726.0377).”

Earlier this month Freddie Mac (OTCQB: FMCC) announced the winners of its Home Possible RISE Awards®. The annual program, RISE (Recognizing Individuals for Sustained Excellence), salutes Freddie Mac’s top clients across multiple categories for excellence with the Home Possible® mortgage, Freddie Mac’s affordable lending solution for very low- to low-income homebuyers. Hallmark Home Mortgage earned the Home Possible RISE Award for Greatest Volume. “I’m thrilled and honored that Hallmark Home Mortgage has been recognized with the Freddie Mac Home Possible Rise Award for the Greatest Volume in the Corporate Segment. This award is a testament to the hard work and dedication of our entire team, and we are incredibly proud of this achievement,” noted Deborah Sturges, CEO & Founder Hallmark Home Mortgage.

Evergreen Home Loans™ adds to its awards line up. This year, the company placed on the Puget Sound Business Journal Corporate Philanthropy List for the third year in a row. It honors the region’s corporate philanthropists and companies who have made significant contributions to the community through philanthropic work. “We are committed to making a meaningful impact in our local communities,” said Don Burton, Founder and CEO of Evergreen Home Loans. “And we are humbled by the recognition for this award.” As loan officers, you already positively impact lives and communities… Continue to do so with a company that helps associates give back, provides paid hours for volunteer work, celebrates individual growth, and truly lives its unique and award-winning culture. Visit the Evergreen careers page to explore current opportunities.

Are you a loan officer or mortgage banker frustrated with the constraints of retail lending? Tired of competing against lower rates, fees and closing costs? Then now’s the time to take control of your pipeline and career by making the switch to wholesale lending as an independent mortgage broker. Whether you’re looking to open your own brokerage or join a team as a loan officer, you can get up and running without missing a beat with support from the team at BeAMortgageBroker.com. You have nothing to lose and only clients, greater flexibility and compensation to gain.

loanDepot, Inc. has promoted Alec Hanson to serve as its chief marketing officer (CMO). Hanson will “lead a consolidated marketing team, overseeing the development of brand, digital marketing, and organic and digital lead generation campaigns that drive awareness and revenue growth while differentiating loanDepot’s marketing engine as a competitive advantage for loan originators. Hanson will also be responsible for the company’s originator-led field-level marketing capabilities.”

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Source: mortgagenewsdaily.com

Apache is functioning normally

One important distinction between advanced award travelers and those newer to the world of points and miles is how each group searches for award space.

Those with experience earning and burning points and miles will carefully study various partner award charts, looking at where to transfer their flexible points and what sweet spots they can utilize. Meanwhile, beginners may log into their United MileagePlus or American Airlines AAdvantage account, search for the destination they want to visit and book the first award they see regardless of price or convenience.

While anyone can accrue a good amount of points by earning welcome bonuses on top travel credit cards, this difference in redemption strategies is huge. Using the right partner program to book your award could save you as much as 50%, depending on the carrier and route.

With major programs switching to dynamic pricing and 500,000 miles for one-way business-class flights to Europe becoming increasingly common, it’s more important than ever to know the best ways to maximize your points and miles.

Today, we’ll look at some of the best value sweet spot award redemptions. While this list is not exhaustive, if you plan to travel to one of these destinations and have points at your disposal, these are surefire ways to get an excellent redemption value every time. If you’re new to the world of points and miles and any of these destinations interest you, you can use this as a road map to instant success.

ANA premium cabins to Japan with Virgin Atlantic points

Virgin Atlantic’s partner award chart for ANA is one of the best sweet spots out there. While availability can be hard to come by, and the first-class rates recently increased, this remains an incredible use of Virgin points.

ERIC ROSEN/THE POINTS GUY

The sweet spot

For this sweet spot, it’s important to know that the prices differ if you’re flying from the West Coast versus the central and eastern U.S. You can also book one-way flights for half the round-trip prices noted below.

VIRGIN FLYING CLUB

ANA’s new business class is called “The Room,” and its new first class is referred to as “The Suite.” Both are excellent products that we are big fans of here at TPG — and flying in either means you can visit the always-popular Japan.

You’re allowed an open-jaw routing as long as you stay within the same region of the U.S. (West or Central/East). This means you can mix and match airports wherever you find award space.

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For example, flying from Washington, D.C.’s Dulles International Airport (IAD) to Tokyo’s Narita International Airport (NRT) and then returning from Tokyo’s Haneda Airport (HND) to New York’s John F. Kennedy International Airport (JFK) would be a valid itinerary, costing only 95,000 points in business or 170,000 points in first class.

Availability can be scarce — you will have the best luck booking 12 months in advance (as soon as the seats are loaded) or last minute (less than 14 days before departure when unsold seats are often loaded for awards). Your best bet for finding availability is to search for it using the United MileagePlus website and call Virgin’s Flying Club to book.

Related: Feels like first class: Flying ANA The Room business class from LA-Tokyo

Earning Virgin Atlantic miles

Virgin Atlantic miles are among the easiest to earn. You can transfer points from Chase Ultimate Rewards, American Express Membership Rewards, Citi ThankYou Rewards, Capital One, Bilt Rewards and Marriott Bonvoy to Flying Club. Keep an eye out for transfer bonuses from Amex or Citi that could drop your costs even further.

Related: How to redeem Chase Ultimate Rewards points for maximum value

Iberia business class to Spain with Avios

Iberia Avios can unlock one of the cheapest ways to fly to Europe in business class.

CHRISTIAN KRAMER/THE POINTS GUY

The sweet spot

The key to this sweet spot is to fly a nonstop, Iberia-operated flight of 3,001 to 4,000 miles on off-peak dates (check Iberia’s peak and off-peak calendar). This is because Iberia uses a distance-based award chart for its flights.

IBERIA.COM

Iberia operates several transatlantic flights that fall into the 3,001- to 4,000-mile distance band. As such, you can book Iberia flights between the following city pairs for just 34,000 Avios, plus modest taxes and fees:

  • Boston Logan International Airport (BOS) to Adolfo Suárez Madrid-Barajas Airport (MAD).
  • BOS to Josep Tarradellas Barcelona-El Prat Airport (BCN).
  • JFK to MAD.
  • JFK to BCN.
  • IAD to MAD.

While flights from Chicago’s O’Hare International Airport (ORD) to MAD are slightly outside this range, they also price at 34,000 Avios one-way in business class.

Earning Avios

There are three primary ways for U.S.-based travelers to earn Iberia Avios:

Related: 4 versions of Avios: When to use Aer Lingus, Qatar Airways, Iberia and British Airways

Qatar Airways Qsuite business class to the Middle East or Africa with AAdvantage miles

Qatar Airways has won numerous awards for its innovative Qsuite business-class product, regarded as one of the world’s best business-class experiences.

KATIE GENTER/THE POINTS GUY

The sweet spot

If you don’t live near a Qatar Airways gateway, you may be able to find an itinerary that allows you to connect domestically in the U.S. for the same cost.

You can search for award availability online, even if you don’t have the necessary miles. Just note that award space may be difficult to come by, so check back regularly if you can’t find flights on your desired route.

Earning AAdvantage miles

There are a few American Airlines cobranded cards you can use to quickly accrue AAdvantage miles.

The information for the CitiBusiness AAdvantage Platinum Select Mastercard and AAdvantage® Aviator® Red World Elite Mastercard® has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

You can also transfer Marriott Bonvoy points to American Airlines AAdvantage at a 3:1 transfer ratio. Additionally, if you pay your rent with Bilt Rewards or spend on the Bilt Mastercard® (see rates and fees), you can transfer your points 1:1 to AAdvantage. Points transfer from Bilt to AAdvantage instantly.

Related: Best uses of American Airlines miles

Cathay Pacific business class to Asia or Africa with Alaska miles

The Alaska Airlines Mileage Plan used to be one of our favorite airline programs, as the program once offered some incredible award flight sweet spots. Sadly, Alaska has removed many of its award deals, but Cathay Pacific is one of the remaining Mileage Plan sweet spots that you should book before it disappears.

CATHAY PACIFIC

The sweet spot

Flying with Cathay Pacific from the West Coast to its Hong Kong International Airport (HKG) hub will cost 30,000 miles each way in economy. If you can find available seats in premium cabins (which is difficult), you’ll pay 50,000 miles per person in business class and 70,000 miles per person in first class.

You can also continue on to several points in Asia, such as various destinations in India and Dubai International Airport (DXB), paying just 50,000 miles per person for a one-way flight in economy. Expect to pay 62,500 miles for a one-way business-class ticket and 70,000 miles for a first-class ticket.

Unfortunately, Cathay Pacific’s premium cabin seats are extremely tough to find. If you find availability, we recommend booking immediately. If you need to cancel your ticket later, Alaska will redeposit the miles and refund the taxes and fees without penalty.

Earning Alaska miles

Alaska miles aren’t the easiest to earn, as they are not linked to any major transferable program. Thankfully, Alaska’s broad list of airline partners means you can earn when flying with many different airlines.

Alaska Airlines also has two cobranded credit cards with Bank of America.

  • Alaska Airlines Visa® credit card: Get a $100 statement credit, 50,000 bonus miles and Alaska’s Famous Companion Fare from $122 ($99 fare, plus taxes and fees from $23) with this offer. To qualify, make $2,000 or more in purchases within the first 90 days of opening your account.
  • Alaska Airlines Visa® Business card: Get 50,000 bonus miles, a $100 statement credit and Alaska’s Famous Companion Fare from $122 ($99 fare, plus taxes and fees from $23) with this offer. To qualify, make $3,000 or more in purchases within the first 90 days of opening your account.

Related: Which credit card should you use for Alaska Airlines flights?

Short-haul flights on British Airways with Avios

With dynamic pricing in some programs showing up to 100,000 miles for a single flight in economy, British Airways is a good alternative. The Executive Club program offers low prices on short flights.

The sweet spot

British Airways only charges 4,750 Avios each way for off-peak flights it operates from London to destinations up to 600 miles away. This includes destinations in Ireland, Scotland, Denmark, France, Germany, Austria and Italy. Taxes will set you back just $31 (this can vary depending on current exchange rates), though you also have the option to reduce this to $1 by redeeming 9,250 Avios.

BRITISHAIRWAYS.COM

Award flights include full-size cabin baggage and checked baggage.

Earning British Airways Avios

The easiest way to earn a meaningful number of Avios for everyday spending is by applying for the British Airways Visa Signature Card. You’ll earn 75,000 Avios after you spend $5,000 on purchases within the first three months of account opening. TPG values Avios at 1.5 cents each, making the full bonus worth $1,125.

The British Airways Visa Signature has a $95 annual fee and earns 3 Avios per dollar spent on purchases with British Airways, Aer Lingus, Iberia, and Level. Plus, you can earn 2 Avios per dollar spent on hotel accommodations when purchased directly with the hotel. All other purchases earn 1 Avios per dollar spent.

British Airways is also a transfer partner of Capital One, Chase Ultimate Rewards, American Express Membership Rewards, Bilt Rewards and Marriott Bonvoy, making Avios one of the easiest currencies to earn.

Points transfer from Capital One, Chase, Bilt and Amex at a 1:1 ratio (in addition to occasional transfer bonuses of up to 40%), while Marriott Bonvoy points transfer to Avios at a 3:1 ratio. Plus, you’ll get a 5,000-Avios bonus for every 60,000 Marriott points transferred.

Related: 5 reasons why you should care about British Airways Avios

Air France-KLM Flying Blue promo awards

From paid ticket sales to redemption promotions, there are endless opportunities to book travel at a discount. However, few sales are as reliable as the Promo Rewards we see each month from Air France-KLM Flying Blue.

With Flying Blue adopting dynamic pricing with highly variable rates in all classes, this monthly offer is an excellent way to save on award travel.

ZACH GRIFF/THE POINTS GUY

The sweet spot

These monthly Promo Rewards regularly appear on the Flying Blue website and offer discounts on flights to and from select cities or region pairs. All discounts are only bookable through the end of the month, and there’s a set travel window.

Each month, the destinations, discounts and classes change, so keep an eye out for what is currently available. In the past, we have seen deals like:

  • 39,000 miles in business class from Miami International Airport (MIA) to London’s Heathrow Airport (LHR), flying KLM.
  • 22,500 miles in premium economy class from IAD to Munich Airport (MUC), flying Air France.
  • 11,250 miles in economy from ORD to Stockholm Arlanda Airport (ARN), flying Air France.

Earning Flying Blue miles

Boosting your Flying Blue balance is easy since the program partners with all major transferable points currencies.

You can transfer points at a 1:1 ratio from American Express Membership Rewards, Bilt Rewards, Capital One, Chase Ultimate Rewards and Citi ThankYou Rewards. You can also transfer Marriott points at a 3:1 ratio, with a 5,000-mile bonus for every 60,000 points you transfer.

Based on our tests, Amex, Bilt, Capital One, Chase and Citi transfers should post almost instantly. However, that wasn’t the case with our test transfer from Marriott, which took three days to arrive in our Flying Blue account.

Related: Is KLM premium economy worth it on the 787 Dreamliner?

Domestic United flights with Turkish Airlines’ Miles&Smiles

United’s dynamic pricing means you won’t find a set price for flights booked via the MileagePlus program. However, when there is saver-level inventory (the X fare class for economy or the I fare class for business), Turkish Airlines’ Miles&Smiles becomes one of the best options available.

DAVID SLOTNICK/THE POINTS GUY

The sweet spot

For any domestic flight in the U.S., including to or from Hawaii, Turkish requires just 7,500 miles each way in economy. If you’re lucky enough to find domestic first class, those award tickets only cost 12,500 miles each way.

For example, we found a round-trip ticket in economy from San Francisco International Airport (SFO) to Hawaii’s Ellison Onizuka Kona International Airport at Keahole (KOA) that only requires 15,000 Turkish miles plus $11.20 in taxes and fees.

TURKISHAIRLINES.COM

This exact same flight would be 25,800 United miles.

The key to this sweet spot is finding saver-level inventory. You can search for these fares on United.com, though note that award tickets in any fare class other than X for economy and I for business class are not bookable through partner programs.

Earning Turkish miles

Miles&Smiles partners with a trio of programs: Capital One, Citi ThankYou Rewards and Bilt Rewards. You can transfer rewards from any of these programs at a 1:1 ratio, and our tests indicate that transfers should process instantly.

Related: The ultimate guide to Citi ThankYou Rewards

Bottom line

When it comes to making award reservations, you need certain stars to align. A little bit of flexibility is required to make the process run smoothly, and that might mean changing the dates of your trip a bit or opting for a destination with more plentiful award space. If these three things fall into place, you’ll have a solid award flight.

However, there’s a fourth element to the equation: value. If you can score one of the above sweet spots, you’re essentially guaranteed to get incredible value from your redemption.

Additional reporting by Andrew Kunesh and Ethan Steinberg.

See Bilt Mastercard rates and fees here.

See Bilt Mastercard rewards and benefits here.

Source: thepointsguy.com

Apache is functioning normally

Dennis Lehane, whose dark and twisty novels have won him accolades, is looking for a buyer to write him an offer on his lovely Los Angeles home. The asking price is $3,295,000.

Lehane penned “Gone, Baby, Gone” and “Mystic River,” among other titles. He purchased the property in 2020 for $2,395,000 and could make a bundle, if he lands anywhere near a full-price deal.

The almost 4,700-square-foot, five-bedroom, six-bath, Mediterranean-style dwelling is situated in the sought-after Kentwood neighborhood.

Built in 2006

(Realtor.com)

Living room

(Realtor.com)

Kitchen

(Realtor.com)

The home sports a traditional interior design, with some strong California-casual vibes. Light and airy rooms, large windows, a white palette, and soft textures give the space a sleek, upscale aesthetic.

A fireplace and elegant mantle grace the living room, while the kitchen is well-outfitted with a huge island, wine fridge, and seating for five. There are also double sinks, quartz countertops, and stainless steel appliances.

The main bedroom is a serene retreat with a large walk-in closet, marble bathroom, and a soaking tub beneath an opaque window.

The home is made for entertaining, thanks to a personal screening room, flex room with yoga-studio potential, and a wet bar on the lower level.

A courtyard behind the home offers a lagoon-style pool, spa, and patio with stone detailing, all flanked by swaying palm trees. Massive hedges cocoon the rear area, smartly hiding it from prying eyes.

Primary bedroom

(Realtor.com)

Main bathroom

(Realtor.com)

Pool and backyard

(Realtor.com)

With more than a dozen novels to his name, Lehane has also put his talents to work on the small screen. He was a staff writer on the hit series “The Wire” and a writer-producer for “Boardwalk Empire.”

Lehane has even helped fellow writers with their television adaptations, including one for Stephen King’s “Mr. Mercedes.” His latest novel, “Small Mercies,” is out now.

Source: realtor.com