With mortgage rates currently at 7.04%, many first-time homebuyers – typically millennials – will be forced to continue to rent.
But the U.S. housing market is not a monolith, so today we’re going to look at some markets where affordability is within the normal renter’s reach.
In a study published this week, First American economist Ksenia Potapov analyzed the share of homes that are affordable to the median renter in any given market. She defined an affordable market as one in which the median renter can afford 50% or more of the homes for sale based on the renter’s household income, the prevailing 30-year mortgage rate, and the assumption that one-third of pre-tax income is used for a mortgage with a 5% down payment.
Here’s what she found:
There are only four markets in the U.S. in which the median renter in that market could afford half or more of the homes – Buffalo (59%), Pittsburgh (56%), Detroit (54%) and Cleveland (54%).
Meanwhile, the least affordable markets were Los Angeles (1%), San Diego (2%), San Francisco (2%), Salt Lake City (4%), and San Jose, Calif. (4%). The California cities are stalwarts on lists such as these, but Salt Lake City — which attracted tech workers during the pandemic — is a new entrant.
“Pre-pandemic, Salt Lake City was an affordable market that fell in the middle of the pack out of the top 50 U.S. markets,” Potapov wrote. “However, rapid house price appreciation during the pandemic dragged Salt Lake City near the bottom of the affordability list. In the fourth quarter of 2019, the median renter could afford 69% of the homes for sale in Salt Lake City. Now, the median renter can only afford 4% of homes.”
According to data from Altos Research, the median home price listed in Salt Lake City last week climbed to $785,000, up from about $540,000 in the fourth quarter of 2019.
Jake from State Farm to California: Drop dead!
California markets like the ones listed above already face a number of challenges, but news over the weekend could make it even more challenging for buyers. Last week we talked about the cost of flood insurance going up by over 200% for some homeowners in the Southeast as both the federal government and private insurers determine how to price the soaring cost of climate risk, or abandon insuring them altogether.
Well, State Farm last week announced that it would halt home insurance sales in California. State Farm is the nation’s largest car and home insurer by premium volume. The insurance giant said it “made this decision due to historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market.” Existing home-insurance policyholders won’t be affected, though this is clearly not a positive development for the state.
You might remember that a year ago, AIG notified 9,000 wealthy clients that it wouldn’t renew home insurance policies in California. The change was part of a plan by AIG to stop selling home policies in California through a unit regulated by the state’s insurance department. Policyholders were instead directed to another unit, where policies could cost three-to-five times higher than what clients paid under the old plan, with less-generous coverage to boot.
California has experienced record wildfires in the past six years. The state experienced eight of the largest fires in U.S. history and three of the top five deadliest fires.
I am not sure if we should even get into the reconstruction costs in California, which are so high they are almost beyond belief.
What does this all mean for Californians? For starters, I expect that other insurance companies are going to follow suit and availability is going to be a serious problem for homeowners and prove a problem for buyers and sellers alike. As is true in Florida, California has an insurer of last resort — FAIR Plan — for wildfires, but homeowners will still need significant wrap-around coverage. The premiums are quite high under FAIR, too and they cover the dwelling at actual cash value versus replacement cost value.
Cali LOs and agents: Have you had any deals held up because of home insurance issues? Let me know at [email protected]
In our weeklyDataDigest newsletter, HW Media Managing Editor James Kleimann breaks down the biggest stories in housing through a data lens. Sign up here! Have a subject in mind? Email him at [email protected]
More than one million wineries currently operate worldwide. Each produces at least three different wines, and plenty of them stomp out 20 or more.
That’s a lot of potential hangovers. But if you sip responsibly you can enjoy the taste, the history, and the geography of the grape without any concurrent headaches.
And if you have champagne tastes but a Boones Farm budget? Buy the fruit of the vine online. A discount comes in handy at this time of year, given the expenses associated with the holidays. In the next couple of weeks you might be:
Having people over for your only fancy meal of the year, which surely calls for a grown-up beverage
Making mulled wine or glogg for a holiday open house
Looking for a good deal on bubbly for New Year’s Eve
Or maybe you’re just an everyday wine enthusiast who likes a glass with dinner. No matter what your reason, there’s no need to pay through the nose, so to speak, for a decent bottle. Thanks to increased competition, better technology, and smarter winemaking, there’s never been a better time to be an oenophile, according to wine critic Natalie MacLean.
“I’m a wine cheapskate at heart. Why pay more than you have to for pleasure? These days you can get a wine that tastes twice as expensive as it costs,” says MacLean, author of Unquenchable: A Tipsy Quest for the World’s Best Bargain Wines.
Although talking with an experienced wine seller can be a pleasure, not everyone is lucky enough to live near a wine store, or even a liquor store or a supermarket that sells wine. And let’s face it: Your local booze emporium or grocery store probably doesn’t have the space to devote to a truly huge selection of vino.
Online sites like Wine.com and WineExpress.com have deep cellars, and sell enough of the stuff to offer discounts. Specialty sites exist, too, with somewhat smaller lists but interesting back-stories — and competitive prices.
Kissing vinous frogs It isn’t just the discount that’s attractive, but the chance to try dozens (or hundreds) of vintages you might not find in the local carafe-a-teria.
Don’t know where to start? The online sites make it easy:
You’ll see sections like “90 under $20,” i.e., bottles that have received 90 points or more from wine critics.
You can search by price point, by region, by type of wine — or even by clearance sales.
When you click on a wine title, the next screen may also include suggestions à la Amazon.com, “Customers who bought Mad Dog 20/20 also bought…”
Another way to find new varieties: Natalie MacLean and other wine critics have Facebook pages and Twitter feeds, as well as homepages. There you can learn their hottest (and cheapest!) new discoveries. MacLean tastes at least 30 varieties per day. Nice work if you can get it, huh? Yet as she puts it, “I’m kissing a lot of vinous frogs to find those princes for you.”
Or prospect at a specialty site like People’s Wine Market or the Accidental Wine Company, both of which offer discounted sips with interesting backstories. The former buys overstock vintages from artisan, environmentally-friendly wineries. “Overstock” means that only a few cases are left and a wine distributor won’t bother with such a small order. The producers sell it cheaply just to make back their production costs, according to company spokeswoman Ashley Sytsma.
Three varieties, “usually the last case or two in existence of that vintage,” are featured each week. The lowest price was $7; the most expensive was a 2006 Philippe Delavaux Grains Nobles for $49, which would normally retail for as much as $125 per bottle.
The Accidental Wine Company’s original niche could be described as “oops”: vintages whose labels were applied crookedly or got soaked by a bottle broken in transit. If I were an oenophile I’d be all over the scratch-and-dent stock, i.e., focusing on the inside of the bottle. (Then again, I bought “slightly irregular” cloth diapers for my daughter. True story.)
Accidental Wine still sells irregular vino but also sells end-of-season stock and other special deals. Some of the best prices aren’t advertised prominently on the site due to agreements made with the producers. A couple of recent examples:
2006 Six Sigma cabernet sauvignon for $12 (normally as much as $50)
Reds and whites bought in Spain last summer, $7 to $10 per bottle. “If it was made in America we’d be getting $20 a bottle,” says David Forbes, the “grape wrangler” who did the buying.
How to find non-posted prices? Poke around on the website, or e-mail the company ([email protected]) with the types or varieties you typically drink.
Finding the best prices If you already know which wine you want to buy, use a price comparison site such as PriceGrabber.com or CheapUncle.com. Type in “box of white zin” or whatever you’re looking for, and wait for prices to pop up.
These sites have online coupons to make the offers even more attractive. Or look for coupons through aggregators like Savings.com and RetailMeNot.com.
We now pause for a really stupid joke:
Q. What did the grape say when the elephant stepped on it?
A. Nothing — it just let out a little wine.
Before you place an order, check to see if the wineseller is affiliated with a cash-back shopping site such as Extrabux, Mr. Rebates or Fat Wallet. These sites also provide online coupons (including free or nearly free shipping) along with rebates of 3% to 7%.
Note: If shopping through a cash-back site, use only the coupons you find on that site. Any “outside” discount codes will void your rebate.
Aggregators like Cashback Comparison Tool or Cashbackmonitor.com offer side-by-side comparisons from some of the better-known cash-back sites; be sure to double-check the posted rates, which can change without warning.
Wine on wheels About that shipping: An order might be in transit for days. You might wonder whether your order will become a winesicle (North Dakota truck version) or an expensive bottle of vinegar (Florida truck version).
But all wine has to be shipped at some point, or it would never leave the vineyard.
The folks who do this for a living use extreme care, to the point of adding cold packs during certain times of the year.
Some sellers have a “hold until safe” option, i.e., they’ll store your purchase for weeks or months until the weather improves. Or you can opt to pay more for overnight delivery.
Note: Make sure your order will arrive when someone who’s at least 21 years old will be home to sign for it. No, it can’t be left on the back porch.
Obviously shipping adds to the per-bottle cost. But maybe not, thanks to deals and discounts like:
WineExpress.com ships some items free and offers 99-cent shipping for its “wine of the day.”
GetWineOnline.com has a “50/50 Club,” which means you can get half off standard shipping for an annual fee of $48.
Wine.com’s “Wine Steward-Ship” program provides a year’s unlimited shipping for $49.
UltimateWineShop.com has free shipping on some varieties if you buy in multiples of 12 (which could be a deal-breaker for some and an enabler for others).
Another way to keep costs low: Watch for social marketing deals. Recently I’ve seen deals like:
The “Holiday Gift Set” through LivingSocial, with two bottles of wine, two glasses, a gift bag and a “tasty treat” for $34
Four wines (three reds and a white) for $49 through KGB Deals
$70 worth of wine for $35 through Eversave
Watch for these deals, but be sure to do the math.
Tip: Depending on the social buying site you use, you can get credit for the next purchase or even an outright free order if friends buy using your referral code.
Haute sips or house swill? I am not suggesting that you ignore local winesellers. But casting your net a little further than the neighborhood state store or Safeway can improve your enjoyment of wine and stretch your fun budget.
Of course, plenty of people are perfectly happy with Charles Shaw or the super-cheap Aussie vintages to be found at the local liquor locker. A good friend of mine is content with boxed wine, which she cheerfully refers to as “the house swill.”
So if you have a proletarian palate and know that good stuff will be wasted on you, or if you simply can’t afford to dream past three-buck Chuck right now, then continue to do what works for you. But if you want to branch out a little, give the online vintners a try.
Myself, I never drink…wine. (Extra geek points if you got the Bela Lugosi reference before clicking on the link.) I don’t know red from white or white from plaid. I don’t know whether Night Train is an aperitif or a cough syrup. But vinous beverages sure are important to a lot of people. Hey, it’s in the Bible that you should drink a little wine for your stomach’s sake. And did Jesus turn the water into Kool-Aid, or 2% milk? He did not.
A bottle of wine is like any other non-essential treat. No one needs cable TV per se, and few of us would actually die without a piece of chocolate now and then. Knitters probably should consider using up the yarn they currently have, music lovers could back off on completing their Murray Perahia collections, and someone who owns four cats would do well to consider the cost of adding another.
But those small pleasures enhance our lives. That’s why we budget for them. So go ahead: Crank up “The Big Bang Theory.” Enjoy some chocolate and a kitten (not together). Craft a scarf while listening to The Goldberg Variations. And enjoy an affordable chardonnay or merlot whenever you want. Wine: It’s not just for breakfast anymore.
Embarking on a downsizing journey as a senior can be exciting and overwhelming. It’s a time filled with anticipation for a new chapter in life, but it also involves making tough decisions about belongings accumulated over the years. A comprehensive checklist can be an invaluable resource to ensure a smooth and successful downsizing process. Whether you’re considering downsizing for retirement, transitioning to a smaller home or exploring senior living options, this checklist will help simplify the process and pave the way for a stress-free transition. You can also work with a financial advisor to help you with a retirement budget, which can often help you decide what and when to downsize.
Downsizing Checklist for Seniors
When creating a downsizing checklist for seniors, it’s essential to consider specific needs and goals, efficiently declutter and organize belongings and effectively plan for the move. Here are key items to include in the checklist.
1. Gather Important Paperwork
To get started, the first thing you should do is organize your essential documents in a neat and organized way. It’s a good idea to keep important information safe by storing it in a secure place like a safe deposit box or a fireproof safe. That way, you can have peace of mind knowing that your documents are well-protected.
Next, consider making digital copies of all your vital documents. This will provide an extra layer of security in case anything happens to the physical copies. Store these digital copies securely online using a reliable and encrypted storage service. This way, even if something happens to the originals, you’ll still have access to them whenever you need them.
Lastly, remember to let your loved ones know about the whereabouts of these crucial documents. It’s important to share the location with them and provide clear instructions on accessing them. This ensures that your loved ones can easily find and retrieve the necessary information in case of an emergency or when important decisions need to be made.
Remember, taking these steps will give you peace of mind and make it easier for you and your loved ones to access important documents when needed.
Documents to Include
Here are some documents you’ll want to save and organize:
Contact information for professionals like your attorney, doctors, financial advisor and insurance agent
A list of personal assets like property and investments
A list of liabilities and debts like auto loans, mortgages and credit cards
Social Security and Medicare cards
Copies of your federal and state income tax returns for the last five years
List your checking account, savings account and credit card numbers and accounts
Legal documents, including trusts, wills or amendments and necessary directives like the durable power of attorney and advance directives
A letter addressing any personal matters or issues you want to communicate or document
2. Pack and Organize Your Belongings
You can greatly simplify the packing and moving process by organizing and planning ahead. Here are some key tips to make your packing more efficient:
Enlist the help of family members, friends or the moving company to assist with packing tasks. The moving process will be much more straightforward, with everything labeled adequately in advance.
Ensure you have markers and labels available for labeling boxes.
Label each box with its intended destination room or area in the new residence. This will make unpacking and organizing much more efficient.
Consider utilizing specialized containers the moving company provides, such as wardrobe boxes for keeping clothes on hangers or protective boxes for flat-screen TVs.
Prepare an “open first” box or boxes. These should contain essential items for setting up sleeping accommodations and the bathroom. Include fresh bedding, toiletries, nightclothes, towels, utensils, a change of clothes, a flashlight, tape, scissors and cash for ordering dinner since moving often takes longer than expected.
Pack essential items that you’ll need to keep during the move separately. These may include the new lease or residence contract, keys, medications, legal documents, checkbook, cell phone, address book and a first-aid kit. Remember to label this container. Valuables like jewelry should be kept in a safe-deposit box unless regularly worn.
3. Prepare for Moving Day
Preparing for moving day is crucial to ensure a smooth transition to your new home. Some important tasks to complete include:
Organize a moving binder that includes important information like critical contacts, estimates, receipts and an inventory of the items you’ll take.
Confirm the final details with your mover or moving coordinator.
Arrange utility disconnects according to your moving schedule.
Schedule post-move-out cleaning services to ensure a smooth transition.
Ensure you have a written contract from the moving company that clearly outlines coverage for lost or damaged possessions.
Obtain a specific arrival time from the moving company for your old and new residences.
Verify the available payment options for the moving company, such as credit card or check.
4. Wrap Up the Remaining Moving Day Tasks
When the moving day finally arrives, there are a few last-minute details that can assist you in completing the downsizing process smoothly.
Assign someone to meet the movers at your new residence, ensuring they have a key and that the community manager is aware of your arrival.
Begin by cleaning out the pantry and deep freeze, remembering to reduce your cleaning supplies.
Double-check inventory lists to ensure everything is accounted for.
Properly label all boxes to facilitate organized unpacking.
Ask a neighbor for any mail that might arrive after your move.
If you bring a pet, pack their food and medications to ensure a smooth journey and safe arrival.
Pack a suitcase with your clothes and medicines, so you’re ready for the first day after your first night in the new home.
Personally pack valuables and belongings that you don’t frequently use.
Use the “open first” boxes to set up the bedroom and bathroom immediately.
Be prepared to spend a few days unpacking and organizing. Enlist someone to help you. Work efficiently to make your new home feel comfortable quickly.
Tips for Downsizing Seniors
It’s not always easy to know when or how you should be downsizing. You need to first understand your budget before moving forward with the whole process so you know how much money you want or need to save. Here are six recommendations to make downsizing a smooth transition.
Start Early
Downsizing can be daunting, especially for seniors who have resided in their homes for an extended period. The mere thought of downsizing can easily lead to feeling overwhelmed, causing individuals to become paralyzed and delay the process. Unfortunately, this only adds to the difficulty of the task.
You gain the advantage of time by starting early, even before embarking on the search for a senior living community. This approach reduces stress for everyone involved and provides an opportunity to cherish memories while sorting through old family photographs and keepsakes throughout the house. Taking it slowly ensures a smoother downsizing experience.
Prioritize the Essentials
Take an inventory of the possessions you hold dear and cannot let go of. Consider the limited space you will have in your new home. Additionally, create a separate inventory for belongings that hold significance but may need to be relocated to a friend or family member’s home.
Safeguard Your Valuables
The process of downsizing and relocating can often be chaotic, especially when you’re preparing to sell your home. To simplify matters and mitigate risks, consider renting a storage space or utilizing a family member’s garage or basement to temporarily store your cherished possessions. This precautionary step not only safeguards these items but also creates a more spacious and appealing environment for potential buyers.
Design a Layout
If you have decided on a senior living community or a condominium, obtain the measurements of each room. Next, measure the furniture you intend to bring along. Utilize these dimensions to develop a comprehensive floor plan for your new home. You can use either graph paper or user-friendly online tools like RoomStyler or Homebyme.
This process will visually represent how many of your belongings can be accommodated in the new space. Therefore, helping you determine what will fit and what may need to be left behind.
Develop a Strategy for Discarding Unwanted Stuff
Determining the best action for disposing of unneeded items requires careful consideration. Although your community may have several nonprofit organizations that accept donations, it may take some effort to determine which items they are willing to receive. Disposing of older electronics can also pose additional challenges.
Fortunately, specific charities provide pick-up services, which can be particularly helpful if you have larger furniture pieces or multiple boxes of smaller items to donate. Lastly, remember to request a receipt from each charity, enabling you to claim tax deductions for your donations.
The Bottom Line
Downsizing offers seniors a transformative experience. It enables you to embrace new opportunities and discover a more manageable lifestyle. With a comprehensive checklist, seniors can confidently navigate the process, from assessing needs to organizing belongings. By planning ahead and making informed decisions, you can ensure your new living space is filled with cherished possessions.
Retirement Tips
Retirement brings its own set of challenges, but financial worries shouldn’t be one of them. If you aspire to have a substantial nest egg when you retire, consider seeking guidance from a financial advisor. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
When planning for retirement, it is crucial to accumulate a solid savings portfolio. However, it’s equally important to factor in your Social Security benefits. Utilize SmartAsset’s Social Security calculator to estimate the potential benefits you may receive.
Ashley Kilroy
Ashley Chorpenning is an experienced financial writer currently serving as an investment and insurance expert at SmartAsset. In addition to being a contributing writer at SmartAsset, she writes for solo entrepreneurs as well as for Fortune 500 companies. Ashley is a finance graduate of the University of Cincinnati. When she isn’t helping people understand their finances, you may find Ashley cage diving with great whites or on safari in South Africa.
According to a recent U.S. News & World Report collaboration with HomeLight to list Memphis, Tennessee’s top real estate agents, Crye-Leike’s Danny Freeman eclipsed all other agents in the region.
The listing, an unbiased recommendation created using in-depth key performance indicators, ultimately helps home buyers and sellers with the best-qualified professionals in Memphis. The following is a rundown on each of the top 5 agents listed alongside their recent transaction information. I’ve also included a spot check on each agent’s digital presence on Facebook, which readers may find interesting.
Danny Freeman has been in the real estate business for over 35 years. A top rates agent perenially, Freeman has had 208 recent transactions and is Move Safe™ Certified by HomeLight on account of his COVID-19 strategies for keeping his clients safe. Overall, he’s listed as having created over 600 transactions with an average sale price above 175k. The Freeman Home Team on Facebook shows mediocre engagement, but Freeman’s ratings at Realtor dot com are rock solid.
Second on the U.S. News list is Keeler William’s Chuck House, who is also a Zillow Premier Agent. House, who has been in the business for almost 20 years. He is also Move Safe™ Certified and has had over 160 recent sales. Overall, House has 412 sales with an average selling price in excess of 260k. A Memphis area resident for over 40 years, House is not the supreme ruler of digital real estate, but I did find his personal Facebook page interesting. Web-wide, the Keeler Williams broker has stellar reviews on every major real estate platform.
Next on the list Mark Sallerof Premier Realty Group. This longtime Memphis agent has superhuman sales numbers with over 2,300 sales (HomeLight shows 68 recently) over the last 10 years, averaging 230 sales per year. He specializes in wholesaling, so his transactions are listed at lower sales prices (69k). A public speaker, Saller’s Reedy & Company Facebook profile is a train wreck which reminds me that almost all of Memphis’ property professionals just don’t get it online.
Melinda Crosslin of Crye-Leike is fourth on the list with 134 recent transitions of between $123,000 and $324,400. With over 20 years of experience, Crosslin has sold over 650 properties, most of which were single-family homes. Eddie and Melinda Crosslin Crye-Leike Realtors Facebook presence is not quite as pitiful as most of the others, but its all but useless for sure. Crosslin’s overall digital footprint seems demonstrative of agents stuck in the age of brick and mortar business, but her record on Zillow is fairly impressive.
Rounding out the list is Tyler Tapley, another Zillow Premier Agent affiliated with Crye-Leike Memphis. A buyer’s agent primarily, Tapley has more than a decade of experience in the industry. His accolades include Multi-Million Dollar Club Active Member, PINNACLE PRODUCER AWARD WINNER, and Certified Relocation Specialist. He and his wife Meatha’s Facebook presence is, like all the others, simply a placeholder, but one made a lot more interesting because of Mrs. Tapley’s superstar videos showing the couple are indeed real people.
Interestingly, I ran across a few other top Memphis agents via Top Agents Ranked. The funny thing being, not one of the HomeLight agents was on the email list sent me when I engaged the service that is supposed to connect the best agents with clients. Tops on the list sent me was Michele Johnston – Dream Maker Realty, followed by Verna Littleton of KAIZEN Realty.
I’m sure the rating criteria is to blame for the discrepancy here, but in fairness, I thought mentioning these other Memphis professionals appropriate here. Also, none of the agents in either list seem to put much stock in social media, or even their websites. The lone exception being Kaizen Realty. More on this in another report. And as a parting note, it seems like a lot has not changed in Memphis, except that previously profiled area agents don’t seem to have made either one of the lists mentioned in the current story. This seems like another prompt for a follow-up, don’t you think?
To be continued…
Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
Walt Disney once famously said “I dream, I test my dreams against my beliefs, I dare to take risks, and I execute my vision to make those dreams come true.”
And while he may have stayed true to these words in all aspects of his life, today we’d like to turn an eye to the homes he imagined into reality. More specifically, the whimsical storybook mansion he built for his family as his animation studio was gaining ground.
Especially since avid Disney fans can now celebrate 100 Years of Disney — the company’s year-long centennial celebration — in the Mickey Mouse creator’s own home.
Walt Disney’s house in Los Feliz, where he lived for almost 20 years and where he and his wife Lillian raised their two children, is currently available to lease.
It doesn’t come cheap though: the storybook mansion is being rented out for $40,000/month. Chase Campen with Compass is in charge of the listing.
“This property was chosen by Walt Disney as the place to raise his family, and also coincided with a transition of Disney Studios from fledgling enterprise toward entertainment giant,” Campen says. “It sits on an acre of land with incredible outdoor space and city views. Its historical pedigree only adds to the magical mystique.”
Speaking of magical mystique, the storybook mansion draws visitors in with its unique architecture from the second they lay eyes on it.
Mixing French Provincial, French Country Tudor, and Neo Gothic styles, the property located on Woking Way in Los Feliz, Los Angeles is a beautiful example of storybook architecture.
Related: Wonderfully Witchy: The Storybook Spadena House in Beverly Hills
The owner of the former Walt Disney house is Timur Bekmambetov, a Kazakhstan-born film director who purchased the home in 2011. And it would seem that creativity flows freely through the 1932-built house, as our sources tell us that the director has been inspired by the home to create a graphic novel and a movie script he is working on about fictional Disney characters who never made it to the big screen.
The storybook mansion has 4 bedrooms, 3 full baths, and 2 half baths across 6,388 square feet of living space, and beautifully appointed interiors that match the whimsical exterior.
The majestic home sits atop a gated drive with parking for 10. A rotunda entrance welcomes residents and guests alike into this magical place, from where they are ushered into the dramatic two-story living room that features vaulted wood beamed ceilings, wood-paneled walls, a brick fireplace, and original windows that look out over the backyard, pool, and downtown Los Angeles.
From there, one wing of the house offers an elegant dining room with French doors to the outside and an artisanally painted ceiling set amidst interlaced beams.
This leads to a gorgeous eat-in kitchen with a center island, marble counters, custom cabinets, a walk-in pantry, and stained glass windows — a perfect mix of modern convenience and old warm charm.
Opposite the living room on the other wing is the still-intact home theater where Walt watched dailies of his productions; the original elements have been preserved, and enhanced with a touch of modern technology.
Upstairs, the spacious primary suite rests above the theater, with city views, ample closets, and a bathroom with dual vanities, a large dual head shower, a centerpiece tub, and period tile.
The other wing features two generous guest bedrooms with a well-appointed bathroom between them. Completing the upstairs is a sunlit family room with vaulted ceilings and access to a former sleeping porch, ideal for an office space or gym.
As is to be expected, the outdoor grounds are incredible, featuring well-landscaped walkways, lush grass lawn, an inviting pool, trellis covered outdoor dining area, and an entire separate area that resembles a private park.
Walt Disney lived in this home longer than any other home from 1932 to 1950.
While his Holmby Hills mansion is most often associated with his persona, Disney’s house on Woking Way is where he raised his daughters and where got the inspiration for Snow White. Diane and Sharon Disney’s original playhouse still sits on the property.
Disney’s Storybook Mansion — also known as the Storybook Cottage — can now be rented for $40,000/month.
Snow White’s cottage in Los Angeles is every Disney lover’s dream
Bacardi heiress lists rare Disney World estate with themed ‘Star Wars’, ‘Frozen’ rooms
Timeless Elegance Meets Whimsical Charm in this $6M Storybook Castle in Los Angeles
A two-story gem designed in 1921 by renowned architect William Lee Woollett, laden with L.A. art and architecture history, has recently been hit the market in Outpost Estates.
The home was owned for 30 years by Walter C. and Louise Arensberg, renowned collectors and patrons of modern art. The couple were visionaries of their time, passionate about the avant-garde movement and constantly pushing boundaries in the art world.
When they acquired this Mediterranean Revival-style residence in 1927, they saw beyond its mere structure.
To them, it was a colossal canvas waiting to be filled, with its walls, floors, outdoor structures, and L-shaped layout offering endless creative possibilities.
The Los Angeles home that defined modern art
Paintings and sculptures adorned every wall, nook and cranny, and even graced the porch, doors and bathrooms. The property also hosted 4,000 rare books and manuscripts.
Louise died in late 1953 and Walter a few months later. They left their home an absolute treasure trove of art, filled to bursting with nearly 1,000 pieces.
After their passing, the couple’s art found a new home at the Philadelphia Museum of Art, while their impressive book collection was donated to California’s Huntington Library.
But the house will forever be associated with the timeless works of art that once adorned its walls.
The home and the collections it housed were even the subject of a 2020 book, “Hollywood Arensberg,” published by the Getty Museum. Following the book’s release, Architectural Digest ran a feature on the historic property, calling it “The Los Angeles Home That Defined Modern Art”.
Its architectural journey, with additions by Richard Neutra, John Lautner, culminated in an extensive $5 million renovation
The Arensbergs also had a deep love for modern architecture and had commissioned various additions to the home over the years, some of them to accommodate their remarkable collection.
Their roster of architects reads like a who’s who of cutting-edge designers from the era: Henry Palmer Sabin, Richard Neutra, Gregory Ain, John Lautner, and Henry Eggers.
Some of the home’s special features include a movie theater by Gregory Ain, an office by Richard Neutra, and a carport by John Lautner with a turntable for easy entry and exit to the estate.
Earl Stendahl, a close friend and neighbor, acquired 7065 Hillside Avenue and turned it into an extension of his Wilshire Boulevard gallery. Following his death in 1966, his family kept running the gallery for many years but eventually fell hopelessly behind on property maintenance.
Related: Richard Neutra-designed stilt house looms over the San Fernando Valley in Los Angeles
When Heithaus and Browning bought the residence, it had no running water or toilets, and the kitchen had been destroyed by fire. Parts of the second floor were rotting.
The two spent $5 million and five years on renovations, bringing the property back to near-original condition. They restored walls, installed new plumbing and electrical systems, and added a stunning fountain and white concrete table with seating for 12 to the front garden, greatly enhancing its charm.
The Arensberg house is now on the market for $8.5 million
Now, Browning and Heithaus are ready to sell. While their profit may not be enormous given the $5 million investment, they take pride in having restored a cultural landmark (as designated by the City of Los Angeles) back to its former glory.
Acquired for $2.34 million in 2017 by owners Marco Heithaus and Jonathan Browning, it’s now proudly presented by The Agency’s James Harris and David Parnes.
The two-story residential building offers 4 bedrooms and 6 baths across 5,612 square feet of living space. The living room, dining room, and owner’s suite all have large fireplaces.
Outdoor amenities include a saltwater swimming pool with a spa, an outdoor kitchen, jaw-dropping fountains, and a sunken garden with a stone dining table that easily accommodates 12.
The $8.499,000 asking price stands out in Outpost Estates, a community where the Spanish-Revival style dominates. Yet, the home’s pedigree is like no other.
Original masterpieces by Pablo Picasso, Salvador Dalí, Paul Klee, and the ever-scandalous Marcel Duchamp have all adorned the walls, creating irresistible allure. It probably won’t be long before some art- or history-loving buyer answers the call of this remarkable property.
More stories you might like
A music producer’s $15M home, beautifully redone by architects behind Nobu Hotels & Soho House
The Remarkable Sheats-Goldstein Residence in LA: Past, Present and Future
Historic $25M townhouse with ties to Andy Warhol was once the epicenter of New York City’s art scene
We never tire of looking at magnificent midcentury modern homes—and we’re not alone. They’ve been favored on architectural popularity lists for well over 75 years!
Midcentury modern design began in the mid-1940s, right after World War II. Soldiers were coming home, starting families, and setting off the baby boom—and they needed new homes quickly and inexpensively.
The experimental technologies and materials—steel, aluminum, tempered glass, stucco, and plywood—developed during the war and beyond were quickly applied to residential structures to meet the needs of the growing U.S. population.
The style had staying power—and spread across the U.S. You might think the epicenter of the midcentury modern movement would be in swanky Palm Springs, CA, where the design was energetically embraced. Or perhaps in the Midwest, where architectural icon Frank Lloyd Wright helped originate the movement.
But a simple search on Realtor.com® reveals that original midcentury modern homes can be found throughout the country.
The prices are as varied as the locations. We found prime and well-preserved examples ranging from $2.6 million to $249,500.
If open floor plans, floor-to-ceiling windows, sleek spaces, and a cool-cat vibe are on your list of must-haves, take a look.
Price: $1,995,000 Handsome in Hollywood: Brimming with original features, this 1960-built home is nestled in the hills of Beachwood Canyon, close to the Hollywood sign and the Lake Hollywood Reservoir. Celebrity-filled hiking trails await right outside the door.
This one is a three-bedroom, two-bath, 1,502-square-foot beauty with walls of glass, transom and picture windows, sliding glass doors, and balconies.
Original features include glass-block walls, a concrete-block fireplace, beamed ceilings, and brick planters. This hillside home is already pending sale.
———
Price: $2,600,000 Pretty and petite: Beautifully restored and located in the popular Sun Terrace neighborhood, this two-bedroom, two-bath, 1,338-square-foot home proves that good things really do come in small packages.
Every square inch of this “atomic ranch” has been stylishly renovated. For example, custom floors were poured to match the original terrazzo. We’re also crazy about those primary-colored floor tiles.
Other exquisitely updated features include a sparkling kitchen with high-end appliances, and a high-impact roof and windows. The house is further equipped with smart technology.
———
Price: $535,000 Boise beauty: Built in 1961, the two-story home has been updated with modern features like a state-of-the-art kitchen.
The three-bedroom, two-bath abode, with 2,028 square feet of interior space, has been updated from floor to ceiling. Plus, the home’s 9,583-square-foot lot includes a hot tub, storage shed, and chicken coop.
The home is located in a quiet neighborhood near downtown Boise, so there are plenty of shops and restaurants nearby. It’s also close to the interstate and the airport, just in case you ever need to get away from this pretty little piece of paradise.
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Price: $335,000 Kansas cocoon: If you’re the type who likes to keep the neighbors guessing—this could be the time capsule for you! All the big windows are in the back, and that 1966-era, stone-front exterior allows for plenty of privacy.
The interior space measures 1,949 square feet, and there are three bedrooms and two baths. Downstairs, you’ll find a playroom and storage area, a two-car garage, and an additional storage shed.
The listing indicates that “lots of possibilities await,” so it may need a little work.
The 0.42-acre lot is located on a cul-de-sac, not far from Garden City shopping. The nearest big city is Wichita. You’d have all the advantages of small-town living while enjoying a big-time, sophisticated home.
———
Price: $1,900,000 Old yet new: While the architecture was inspired by seminal home designers Frank Lloyd Wright and Richard Neutra, this spacious home has had all of its mechanical systems updated. It’s a miraculous feat of blending midcentury modern style with 21st-century convenience.
This five-bedroom, seven-bath, 6,716-square-foot home sits on a 2.7-acre hilltop lot. It features sweeping views of the the surrounding countryside via floor-to-ceiling windows. Its finer features include all walls with cross-bracing to hold firm in a storm, exterior fir wood siding, and marble walls and chimneys.
Built in 1960, and fabulously maintained and updated, the property comes with additional living quarters that could be used as a short-term rental, according to the listing.
And there’s more good news: Most of the midcentury modern furniture can stay in the home, for the right price.
———
Price: $1,725,000 Perfection in Princeton: This immaculately restored and updated home features a garage that has been converted into a light-filled office space. The property also comes with a beautiful apartment with a separate driveway and patio.
The five-bedroom, 4.5-bath dwelling sits on a leafy, 3-acre lot close to downtown Princeton. Originally built in 1955, it has period features like an open floor plan, beamed ceilings, large expanses of glass windows and doors, and a fireplace.
Bonus: Your kids can walk to an excellent school via a footpath from the backyard.
———
Price: $249,500 Well-rounded: The least expensive home on our list, this circular brick house has four bedrooms, 2.5 baths, and tons of style.
That sturdy construction could be responsible for its holding strong since it was built in 1964, since hurricanes have been known to pummel the region. Residents stay toasty and safe in its curvaceous sunken living room with a full masonry fireplace. The open kitchen with a spacious dining nook is another of the 3,046-square-foot residence’s highlights.
Louisiana might not be the first place you’d think to look for such a Space Age abode, yet here it sits, right in the middle of Louisiana’s fifth largest city. The low price and retro style attracted a buyer, and the property is now pending sale.
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Price: $2,200,000 Unquestionably unique: This midcentury modern design will absolutely take your breath away with its soaring ceilings, redwood-and-stone finishes, and towering windows overlooking picturesque Margaret’s Falls.
Built in 1961 by award-winning architect John Michael, who was inspired by Frank Lloyd Wright, it has six bedrooms and five baths in a roomy 5,453 square feet of space. The fenced, hilltop lot is spacious as well, measuring almost 5 acres of landscaping near the house, as well as private woods.
Highlights include a stacked-stone, double-sided fireplace, original stone floors, and clever built-ins.
If it’s March, it must be time to talk about cars. The annual auto issue of Consumer Reports landed in my mailbox this week, and I spent some time skimming the pages.
I’m not nearly as interested in car info as I used to be, but I know that many folks are in the market for a new car, and I think Consumer Reports is a great source for info. Plus, it’s fun to review their findings to see what (if anything) has changed.
This year, the Consumer Reports website — even the part that’s not behind a paywall — has plenty of useful info. There are video reviews of top cars again in 2012, although external embedding has been disabled (meaning I can’t share a video with you here — you have to go to the CR website to see them yourself). You can access all of the free, public content from the site’s April 2012 issue homepage. But let’s review some of the major news.
Note: Because I continue to love my 2004 Mini Cooper (which I bought used), I’ll throw in random Mini stats throughout this article, as I do every year. Humor me.
Here are the Consumer Reports top-rated vehicles in ten categories (with previous years’ top cars in parentheses).
Affordable family sedan (formerly budget car): Hyundai Sonata (2011: Honda Fit)
Family hauler: Toyota Sienna V6 (2011: Toyota Sienna, 2010: Mazda5, 2007-2009: Toyota Sienna)
Family sedan: Toyota Camry Hybrid (2010-2011: Nissan Altima, 2007-2009: Honda Accord)
Family SUV: Toyota Highlander (2011: Kia Sorento, 2010: Chevrolet Traverse, 2009: Toyota Highlander, 2008: Hyundai Santa Fe, 2007: Toyota Highlander Hybrid)
Green car: Toyota Prius (2007-2011: Toyota Prius)
Pickup Truck: Chevrolet Avalanche (2011: Chevrolet Avalanche, 2010: Chevrolet Silverado 1500, 2009: Chevrolet Avalanche, 2008: Chevrolet Silverado 1500)
Small car: Subaru Impreza (2011: Hyundai Elantra, 2008-2010: Hyundai Elantra SE, 2007: Honda Civic)
Small SUV: Toyota RAV4 (2011: Toyota RAV4, 2010: Subaru Forester, 2007-2009: Toyota RAV4)
Sports sedan: Infiniti G (2009-2011: Infiniti G37, 2007-2008: Infiniti G35)
Sporty Car: Ford Mustang (2011: Ford Mustang, 2010: Volkswagen GTI, 2007-2009: Mazda MX-5 Miata)
The magazine no longer picks a “best car overall”, but if it did, that honor would probably go once again to the Lexus LS 460L, which used to claim the top spot every year, and which continues to have the top road score for all vehicles (with 99 our of 100 possible points). (As in previous years, the Mini Cooper scored an 81 on the road test for 2012.)
To me, the big shocker was the rating of top automakers. For years, Honda has ruled the roost in the Consumer Reports‘ annual round-up. Not this year. This year, Honda fell to fourth place. Who’s number one? Subaru. (Although, to be fair, Subaru, Mazda, Toyota, and Honda are all bunched close together at the top of the chart.) Lowly Chrysler brings up the rear.
This year, there’s a clear winner in fuel economy. The Nissan Leaf gets an astounding 106 miles per gallon. (In reality, as a couple of readers have noted, as an electric car, the Leaf doesn’t actually use any gasoline.) The Chevrolet Volt gets 61 mpg to take second place. Then there are a bunch of hybrids at about 38-44 mpg. Consumer Reports says that the Mini Cooper gets 30 mpg, and that’s exactly what mine has averaged over the past six months (and it’s eight years old!). The worst fuel economy? There’s a four-way tie at 13 mpg: Cadillac Escalade, Dodge Ram 2500 (diesel), Ford Expedition EL, and Lincoln Navigator.
In addition to ratings of 276 vehicles, the 2012 auto issue also includes a round-up of top tires, info on individual model reliability, a summary of safety statistics, and a guide to buying used cars.
For a second year, the magazine has done away with some useful info for finding inexpensive gems. I miss the “most overlooked cars” list, for instance. I’m not sure there’s much use to the “top driving gripes” and the “features we love and loathe” lists that take up and entire page. This is USA Today level fluff; I’d rather see some sort of useful data.
Some of the material from the Consumer Reports 2012 Auto Issue is freely available on their website. For instance, check out these useful pages about used cars:
The best used vehicles for under $20,000
Best used cars for fuel economy
Other information, however, is locked behind a paywall. And don’t forget that you can always find great info on the Consumer Reports car blog.
From the Archives
Don’t forget that Get Rich Slowly features car-buying tips from time-to-time. Notable articles include:
I also recommend two older AskMetafilter threads:
The Consumer Reports car issue is an excellent resource. If you think you might purchase a vehicle soon, I recommend it. But I think it’s a little dangerous to pick up just for the sake of browsing. You may find yourself moved from merely curious to “itching to buy”!
Based in Virginia, Navy Federal Credit Union serves all 50 states and the District of Columbia with 344 branches worldwide. Navy Federal’s field of membership goes beyond current and retired members of the armed forces to include their families and household members, as well as certain government contractors. In addition to a full suite of banking services for its members, Navy Federal offers conventional, jumbo and VA loans. It doesn’t offer FHA loans, USDA loans, renovation loans, reverse mortgages and other niche products.
Navy Federal advertises daily purchase and refinance rates for each type of loan it offers in 15-year and 30-year terms, though you won’t find customized rates based on credit score or other factors before you apply.
The lender offers no-down payment and flexible credit requirements on most mortgage products to qualified military service members and their families. Navy Federal Credit Union also doesn’t charge private mortgage insurance. The credit union also has a rate lock option: You can lock in your interest rate for up to 60 days before closing, free of charge.
Navy Federal doesn’t charge prepayment penalties, but the lender may charge origination fees and other closing costs that can be wrapped into your loan principal. Closing costs will vary by location and typically run from 2% to 4% of the home’s purchase price.
Navy Federal’s website is easy to use and offers an array of guides that explain the homebuying process and different types of mortgage loans. The lender lists the types of mortgages it offers, but doesn’t advertise minimum credit score and DTI ratio requirements. It does, however, flag minimum down payment requirements, which vary from 0% to 15% depending on the type of home loan you get.
To get a mortgage, you can apply online, over the phone or in person. Navy Federal has streamlined its online process with a digital application called HomeSquad. Applicants can, for example, set up a personalized portal where they can get preapproved, upload documents, connect their bank accounts to verify assets and receive notifications on the status of their loan. According to Navy Federal’s website, it takes 30 days to close on a mortgage loan, and 45 days for a refinance.
Montana is a beautiful place to live, with its waterways and mountainous terrain. If you live and work in the state, you likely need a great place to park your money. The best banks in Montana give you everything you need to pay your bills and manage your money while also keeping fees to a minimum.
The banking industry in Montana is thriving, with a wide range of brick-and-mortar banks that include local, national, and regional banks. Online banking can be a great option, as well, offering reduced fees and savings interest rates that are above the national average.
14 Best Banks in Montana
This list offers a combination of different bank accounts to help you find the right combination of features to fit your needs.
1. First Interstate Bank
With branches in Montana, Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming, First Interstate Bank has a fairly large footprint.
You’ll also get fee-free access to ATM withdrawals nationwide through the MoneyPass network. First Interstate’s free checking account waives monthly maintenance fees with direct deposit or at least a $250 daily balance. Account holders under the age of 24 also pay no service fees.
Fees:
$5 monthly service fee (waived with requirements)
$10 overdraft fee
Balance requirements:
$100 minimum deposit to open
No minimum balance requirements
ATMs:
Fee-free at First Interstate Bank ATMs
Fee-free at 37,000+ MoneyPass ATMs nationwide
$2.50 out-of-network ATM fee
Interest on balance:
Up to 0.25% APY on savings accounts
Up to 0.25% APY on money market accounts
Up to 4.29% APY on CDs
Additional perks:
Open a FirstRewards World Mastercard along with a checking account and get 5,000 bonus points
Wealth management services available
2. GO2bank
GO2bank is an online-only bank that integrates all your banking functions into its app. You’ll get most of the features you need to manage your bank account in the app, including mobile check deposit and the ability to transfer money from checking to your savings account.
But what sets GO2bank apart from other online and mobile banking options is its cash accessibility. Not only can you withdraw funds at any Allpoint ATM, but you can also deposit cash at more than 90,000 retail locations nationwide.
Fees:
$5 monthly fee
$15 overdraft fee
Balance requirements:
No minimum deposit to open
No minimum daily balance requirement
ATMs:
Fee-free at Allpoint ATMs nationwide
$3 out-of-network ATM fee
Interest on balance:
4.50% APY on savings accounts
Additional perks:
Deposit cash at 90,000+ retail locations nationwide
Secured credit card helps you boost your credit score with no credit check required
3. U.S. Bank
Multiple national banks have branches in Montana, including U.S. Bank, which operates 21 branches across 14 towns. You’ll find ATMs across Montana, but the bank doesn’t operate in every state. You will, however, enjoy fee-free access to cash while you’re traveling through the MoneyPass network, which currently operates about 40,000 ATMs nationwide.
The U.S. Bank Smartly checking account is an interest-earning account that doesn’t charge fees, provided certain conditions are met. These conditions include having monthly electronic deposits of $1,000 or more, maintaining a minimum average balance of at least $1,500, or possessing an eligible U.S. Bank credit card. Alternatively, you can also qualify for fee-free status if you reach one of the bank’s rewards tiers.
In addition, for a limited time, you can earn a $400 sign-up bonus with qualifying activities.
Fees:
$6.95 monthly maintenance fee (waived with requirements)
$35 overdraft fee (waived up to $50)
Balance requirements:
$25 minimum opening deposit
No minimum daily balance requirement
ATMs:
Fee-free at U.S. Bank ATMs
Fee-free at MoneyPass ATMs nationwide
$2.50 fee per out-of-network ATM transaction
Interest on balance:
Up to 0.05% APY on checking accounts
0.01% APY on savings accounts
Up to 4.75% APY on CDs
Up to 4.00% APY on money market accounts
Additional perks:
Smart Rewards program helps you earn rewards for purchases
Up to $750 bonus for business checking accounts
4. Stockman Bank of Montana
Those who prefer brick-and-mortar banks should take a look at Stockman Bank of Montana. As Montana’s largest family-owned bank, Stockman Bank offers branches and ATMs throughout the state. It might not be the best option if you regularly leave Montana, though, as you’ll pay an out-of-network ATM fee of $1 per transaction in addition to third-party ATM fees.
Fees:
No monthly maintenance fees
$15 overdraft fee
Balance requirements:
$100 minimum deposit to open
No minimum balance requirements
ATMs:
Fee-free at Stockman ATMs
$1 out-of-network ATM fee
Interest on balance:
Up to 0.60% APY on savings accounts
Up to 4.39% APY on CDs
Additional perks:
High ratings for customer service
Enhanced debit card security features in mobile banking app
5. Opportunity Bank of Montana
Based in Helena, Opportunity Bank of Montana is another community bank with access to a nationwide ATM network. There are two free checking account options.
Opportunity Checking has all the basics, but Opportunity Reward Checking issues 1% unlimited cash back on qualifying purchases. To qualify for reward checking, you’ll need to receive at least $1,000 in monthly direct deposits and have at least 10 qualifying purchase transactions on your debit card.
Fees:
No monthly service fees
$30 overdraft fee
Balance requirements:
$100 minimum deposit to open
No minimum daily balance requirement
ATMs:
Fee-free at Opportunity Bank ATMs
Fee-free at MoneyPass ATMs nationwide
$2 fee for ATMs outside the Opportunity and MoneyPass networks
Interest on balance:
Rates not publicly disclosed
Additional perks:
6. Glacier Bank
It might be a regional bank, but Glacier Bank has a heavy presence in its service area. You’ll find 222 branches in Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and Nevada, and you can use your ATM card at any Allpoint ATM across the globe. In addition to local bank branches, you’ll also get great deals on checking accounts, as well as savings and business banking options.
Fees:
No monthly fees
$30 overdraft fee
Balance requirements:
No minimum deposit to open
No minimum balance requirement
ATMs:
Fee-free at Glacier Bank ATMs
Fee-free at 55,000 Allpoint ATMs worldwide
$2 fee for ATMs outside of Glacier Bank and Allpoint networks
Interest on balance:
Rates not publicly disclosed
Additional perks:
New checking account comes with a thank-you gift
Robust business banking services
7. Chime
If you have direct deposit, Chime is an online banking option that’s worth considering. Chime doesn’t charge monthly service fees on its checking account, and automatic savings features can help move money from your checking account to your savings account regularly. There is no cash deposit option with Chime, but you can withdraw cash from any Allpoint ATM.
Fees:
No monthly service fees
No overdraft fees
Balance requirements:
No minimum deposit to open
No minimum daily balance requirement
ATMs:
Fee-free at 60,000+ ATMs nationwide
$2.50 outside ATM fee
Interest on balance:
2.00% APY on savings accounts
Additional perks:
8. Chase
Chase Bank is another national bank with branches and ATMs in Montana. You’ll find branches in Helena and Billings. One of the best things about Chase is its nationwide presence. Chase has 4,800 branches and 16,000 ATMs spread across 48 states and the District of Columbia.
The most popular account is Chase Total Checking, which is fee-free if you receive at least $500 in electronic deposits monthly, have a daily balance of at least $1,500, or maintain an average combined balance of $5,000 across all your Chase Bank accounts.
Fees:
$12 monthly service fee (waived with requirements)
$34 overdraft fee
Balance requirements:
No minimum opening deposit
No minimum daily balance required
ATMs:
Fee-free at 15,000+ Chase ATMs
$3-$5 non-Chase ATM fee
Interest on balance:
0.01% APY on savings accounts
Up to 3.75% APY on CDs
Additional perks:
$300 bonus for new checking accounts
Autosave makes it easy to transfer funds to your savings account
9. Farmers State Bank
Another community bank is Farmers State Bank, which has locations across Montana. Farmers State Bank offers both e-banking and traditional banking services to meet all your needs. Although their checking accounts require an opening balance, you can find a fee-free option with no minimum balance requirements or fees.
Fees:
No monthly fees
Balance requirements:
$25 minimum deposit to open
No minimum balance requirement
ATMs:
Fee-free at Farmers State Bank locations
$1 non-Farmers State ATM fee
Interest on balance:
Up to 0.03% APY on savings accounts
Up to 2.27% APY on money market accounts
Up to 4.59% APY on CDs
Additional perks:
Consumer and business loans available
Scholarship program available for students
10. Trailwest Bank
Serving Ravalli, Missoula, Mineral, and Flathead Counties, Trailwest Bank is a locally owned bank with checking and savings options. One feature that sets Trailwest Bank apart is its rewards checking account. Your account comes with a debit card that issues unlimited $.10 rewards per purchase with no fees or minimum balance required.
Fees:
No monthly fees
$30 overdraft fee
Balance requirements:
$25 minimum deposit to open
No minimum daily balance requirement
ATMs:
Fee-free at Trailwest Bank locations
Fee-free at Allpoint ATMs nationwide
$2 ATM fee for transactions outside the Trailwest and Allpoint networks
Interest on balance:
Rates not publicly disclosed
Additional perks:
Wide range of personal loans available
Business checking and savings account options
11. Ally
Another online banking option is Ally, which stands apart from other online banks due to its competitive interest rates on checking accounts, savings accounts, CDs, and money market accounts.
Ally pays up to 0.25% APY on checking account balances, as well as 3.85% APY on savings accounts. One perk included with your Ally checking account is spending buckets, a tool that helps you better balance your budget.
Fees:
No monthly fees
No overdraft fees
Balance requirements:
No minimum opening deposit
No minimum daily balance requirement
ATMs:
Fee-free at 53,000+ Allpoint ATMs nationwide
Up to $10 in third-party ATM fees reimbursed monthly
Interest on balance:
0.25% APY on checking accounts
3.85% APY on savings accounts
Up to 4.80% APY on CDs
4.15% APY on money market accounts
Additional perks:
Robo Portfolios available to help you build wealth
CoverDraft helps you avoid overdrafts
12. Independence Bank
When it comes to local Montana banks, Independence Bank is a great option. You’ll find physical branch locations across Montana, each offering the in-person customer service you can only get from a brick-and-mortar bank. Independence Bank offers two checking accounts, including one fee-free option.
Fees:
No monthly maintenance fees
Balance requirements:
No minimum daily balance required
ATMs:
Fee-free at Independence Bank ATMs
Interest on balance:
Rates not publicly disclosed
Additional perks:
Robust business checking options
Special perks for account holders aged 60 and over
13. Valley Bank of Kalispell
Valley Bank of Kalispell is a community bank with more than a century of experience in the area. The bank’s main office is in downtown Kalispell, with an additional loan office in Eureka. You’ll find multiple basic checking accounts with no monthly maintenance fees, each with its own requirements and features.
Fees:
No monthly maintenance fees
Balance requirements:
$50 minimum opening deposit
No minimum balance requirements
ATMs:
Fee-free at Valley Bank ATMs
Fee-free at MoneyPass ATMs nationwide
Interest on balance:
Rates not publicly disclosed
Additional perks:
Easy check ordering
Wide variety of auto and recreational vehicle loan options
14. Wells Fargo
Wells Fargo is a national bank with branches in 4,900 branches in 37 states. You’ll get fee-free ATM use while traveling at 12,000 ATMs, but if you travel to one of the states without a Wells Fargo presence, Wells Fargo will charge a $2.50 fee for each non-Wells Fargo network ATM withdrawal.
This is in addition to the fee charged by third-party ATM providers. Currently, you can earn a $300 bonus by opening an Everyday Checking Account with a $25 deposit and receiving at least $1,000 in direct deposits within the first 90 days.
Fees:
$10 monthly fee (waived with requirements)
$35 overdraft fee
Balance requirements:
$25 minimum opening deposit
No minimum daily balance requirement
ATMs:
Fee-free at Wells Fargo ATMs nationwide
$2.50 fee for non-Wells Fargo ATM transactions
Interest on balance:
Up to 2.51% APY on savings
Up to 4.51% APY on CDs
Additional perks:
$300 bonus on new checking accounts
FICO score available in mobile banking app
How We Picked These Accounts
Banking needs vary from one person to another, so it can be tough to say what the best banks are. First, there’s the national vs. local debate. Someone who travels often might prefer a bank with branches everywhere, while others might prefer the sense of community you get with a local bank.
This list of best banks also takes into account the different banking services available. You might prioritize a free checking account over a high-yield savings account, for instance. In case you’re looking for a checking or savings account that earns money, we also included banks that pay interest on your savings account, CD, or money market account.
Frequently Asked Questions
What national banks are in Montana?
There are several national banks that have branches within the state of Montana, including U.S. Bank, Chase Bank, and Wells Fargo. If you live in Billings or Helena, Chase might work well for you, but otherwise, U.S. Bank and Wells Fargo will have the statewide coverage you need.
What is the most reliable bank?
Nothing’s guaranteed, but if you go with an FDIC-insured bank, you should be covered, even if you choose an online banking or extremely local bank. Large, corporate banks have a bigger asset base, so if stability is your biggest concern, that might be the way to go. However, there are plenty of FDIC-insured regional banks and small, local banks that are well-established and unlikely to go anywhere.
What Montana bank is ranked the best?
Opinions can vary from one source to another, so it’s important to look across multiple rankings to pull out some trends. When it comes to national banks with a large number of bank branches in Montana, U.S. Bank tops a lot of lists.
As for local banks, two banks receive quite a few mentions. Both Glacier Bank and Stockman Bank of Montana get high marks for their customer service and community focus. Since both of these options are among the best banks for keeping fees low, they’re worth considering.
What should I look for in a Montana bank?
With so many Montana banks, it can be tough to narrow it down to just one. Once you’ve ensured a bank is FDIC insured, it’s a matter of weighing the cost against the rewards. That includes perks like rewards for debit card transactions and checking accounts that pay interest. Here are some factors to consider as you’re researching the best banks.
Overall Better Fee Structure
You’ll see plenty of banks that offer free checking account options, but it’s important to look at the big picture. You’ll see account fees charged for the following:
In most cases, you won’t be penalized for not using an account as long as it doesn’t sit dormant for a while, but it’s essential to look at that. Also consider ATM availability. If you think you’ll regularly need to withdraw cash, the best checking accounts will give you fee-free access whether you’re at home or traveling.
Easy-to-Achieve Fee Waivers
Most online banks and community banks have free checking. But many national and regional banks have strings attached to their free accounts. The best checking accounts have attainable fee waivers, if any at all. Pay close attention to banks that require a lot of debit card purchases every month if you tend to spend more using cash or a credit card.
Some fee waivers will also require a minimum daily balance. This goes for both checking and savings accounts. Before choosing an account, make sure you can maintain that balance, day after day, or be prepared to pay the fee.
Low (or No) Minimum Deposits
Banks often require a small deposit on the account holder’s part to establish checking and savings. But you’ll find plenty of free online banking and smaller local banks that waive the minimum deposit to let you get started with no money whatsoever.
Among the banks that require an opening deposit, though, you’ll find options with small requirements. You might find a bank that lets you open a savings account with just $25 or $50 with a free or low deposit to establish checking. If it’s lower than what you’d put into savings with a different bank, that small checking deposit might be worth it.
Competitive Interest Rates
In addition to fees, you’ll also need to look at the return you’ll get on your savings. The best savings accounts offer a high yield without requiring a ridiculously high balance. Take a look at the interest rate and compare it to other banks to make sure you’re getting the best deal.
Variety of Accounts and Loans
Whether the account pays a higher interest rate is a great consideration, but there’s a benefit to having a one-stop shop. You might find community banks and credit unions offer highly competitive interest rate options on personal loans.
Being an account holder might even get you a discount on auto loans and mortgages. Although you can always shop for loans with other banks, some people prefer to have everything in one place.
Digital banking
Over the years, banking has moved to mobile devices and websites. Whether you go with a large or small bank, take a quick look at the digital offerings. The app should make it easy to pay bills, transfer funds, and keep an eye on your accounts. You might find an online bank gives you better options in this area, particularly if you don’t need to visit a local branch and you rarely deposit cash.
Most importantly, make sure the bank’s mobile app works with your particular mobile device. The app can’t help you at all if you can’t access it. Even if you rarely use the app, it’s a handy tool to have if you suddenly need to take a look at your account when you’re away from your computer.
The best savings accounts and checking accounts offer all the amenities you need while also keeping your balances strong. With so many banks and credit unions in Montana, it’s fairly easy to find a solution that will meet your own needs.