It’s a summertime Friday in the bond market, so anything can happen. Bonds could undertake a huge rally or sell-off without any clear connection to anything in the news or calendar. That said, these are just the sorts of eventualities that we’re less surprised to see on a data-free summertime Friday. We don’t go into the day with an elevated expectation for one outcome or another. More importantly, any outcome would be hard-pressed to change the broader narrative which is that of a generally range-bound bond market that seeks clarity from Fed Chair Powell in next week’s post-rate-hike press conference.
Meanwhile, back on the topic of data-free summertime Fridays, bonds are off to a slightly stronger start with the characteristically overdone movement at the 8:20am CME open (often the morning’s main source of movement/volatility when participation is light and data is absent).
Referred to as Knoll House, the most expensive home listing in Pasadena—a picturesque city 11 miles northeast of downtown L.A.—hopes to attract a lover of art or automobiles eager to showcase a collection.
That’s because the property—two structures totaling 32,644 square feet of living space—includes a 20,000-square-foot art gallery (with enough room to display cars), along with an 11,000-square-foot, 16-room home original to the estate. It sits on a 2.3-acre landscaped and gated lot.
In addition to seven bedrooms and 21 baths, the perk-packed property comes with a Tiki bar, home theater, and wine cellar. Plus, the outdoor area includes a pool, multiple living and dining areas, fireplaces, and a kitchen with a pizza oven and bar.
George Penner with deasypennerpodley real estate is handling the $38.5 million listing.
Historic home
The house was built in 1916 based on designs by architect Myron Hunt. It was initially known as the Samuel C. Fertig House.
Then, in 1973, the home underwent an expansion led by architect Gordon B. Kaufmann and renamed Knoll House by then-owner Virginia Steele Scott.
Art lover’s amenity
Scott left behind a grand statement to the art world.
“Scott [was] a prominent American art collector and donated her collection to the Huntington Library,” Penner says.
Before that, the artwork had its own place on the property.
“She had a gallery space built by Ladd & Kelsey, the same architectural firm that did the Norton Simon Museum in Pasadena.”
The 21,000-square-foot art gallery spans three levels, providing enough room to also showcase a car collection. Elevators and underground access from the main house seamlessly connect the two structures. There’s enough parking for guests thanks to a motor court and a five-car garage.
Another highlight of this property is a Tiki lounge. The sellers added the lounge after they picked up this property in 2013 for $7.5 million. The lounge decor and furnishings are included in the sale.
“Our client utilized the foremost Tiki-bar fabricator and all the furnishings and décor have been sourced from different Tiki bars or museums with artifacts,” Penner says.
From its inception, the building was designed to house more than just art. The art gallery building includes a 46-seat home theater, a poker room, two commercial elevators, and a conference center.
So, who will be in the market for this beautiful property?
“We’re specifically targeting that avid collector. They may be a collector of fine paintings or even a car collector,” Penner says. But someone with deep pockets who loves to entertain may also be tempted.
“The current owner utilizes that space as an event space for philanthropic events,” he adds. “It can host hundreds of people.”
The decline of Fort Morgan didn’t happen suddenly. There wasn’t a giant factory that closed or a natural disaster that devastated the small, farming town on the plains in the northeastern corridor of Colorado.
Instead, Fort Morgan’s story is a familiar one playing out across rural America: children moving away to find better jobs in the cities and big-box stores and online shopping leading to empty storefronts on Main Street. But this isn’t how the story ends for Fort Morgan, about an hour and 15 minutes northeast of Denver.
HGTV is turning its star power on Fort Morgan with the Season 2 premiere of “Home Town Takeover.” The show will feature its biggest name stars, including Ben and Erin Napier of “Home Town” and Dave and Jenny Marrs of “Fixer to Fabulous,” as they take on revitalization projects around town. The six-episode series is to premiere on Sunday.
The popular network has a strong track record of transforming struggling, down-on-their-luck, small towns and cities into popular tourist and real estate destinations. Several of these communities have credited the shows built around them for their turnarounds. Can HGTV and its talent re-create the magic in Fort Morgan—and perhaps inspire other struggling towns to invest in their own revitalizations?
“At the end of the day, millions of people are going to see this show,” Jenny Marrs tells Realtor.com®. “They’re going to be inspired either to go and visit Fort Morgan, which would be amazing and help the town as far as tourism, but also just be inspired to maybe do the same thing in their own town.”
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Watch: Exclusive: Is HGTV’s ‘Renovation 911’ the Most Dramatic Home Improvement Show Yet?
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Over the four months of filming for the show, the teams completed 18 projects. They included fixing up homes of local heroes, businesses such as the town’s bowling alley, and community spaces such as the downtown business district and a local park.
“Our town could use a jump-start,” says local artist Ann Iungerich. “The last 10 to 15 years, it’s gone through a slump. We could use a boost to get us back on track.”
Helping out on the projects were guest stars Jonathan Knight, star of HGTV’s “Farmhouse Fixer” and former vocalist for New Kids on the Block; rapper Lil Jon, who also has a show, “Lil Jon Wants To Do What?”; and Ty Pennington of “Rock the Block,” among others.
“These towns each have a special story,” says Jenny Marrs. She was most impressed by the people she met in Fort Morgan and how they rallied together to improve their community. “People stop, they say hello, they wave at you when you drive by, they know your name at the grocery stores. These sort of simple things can be really powerful.
“Families have lived in these small towns for generations. This is their family legacy and history,” she continues. “They shouldn’t have to move if we can help make the town viable again.”
The HGTV effect on real estate markets
The Texas city of Waco is perhaps the best example of the power of HGTV and its charismatic stars.
“Fixer Upper” premiered in 2013 and launched Chip and Joanna Gaines into the stratosphere. The couple built an empire off of that show, with a furniture line at Target, eight bestselling books between them, and even their own network, called Magnolia. But their greatest accomplishment might have been transforming the public image of Waco.
Before the popularity brought by the Gaineses, the city had been best known for a deadly standoff in 1993 between federal agents and a religious cult run by David Koresh. Now, tourists flock to the city to shop at the Gaineses’ stores and eat at their restaurant, Magnolia Table.
Average home prices in McLennan County, which includes Waco, surged almost 52.1% from 2015 to 2019, according to data previously provided by local real estate broker Camille Johnson. (“Fixer Upper” ran from 2013 to 2018 on HGTV. It was rebooted as “Fixer Upper: Welcome Home” on the Magnolia network in 2021.)
Before “Home Town” began filming in Laurel, MS, Mayor Johnny Magee flew out to Waco. He wanted to see the impact that “Fixer Upper” had on the struggling city.
“What we saw were tourists everywhere, and people were claiming that the same could happen in Laurel. We were doubtful,” says Magee. He didn’t realize how popular the show starring the Napiers would be when it premiered in January 2016.
Today, Laurel is booming. Its hotels and restaurants are full, home sales have risen as more people have moved here, and the town’s tax base has increased.
Home list prices surged in Laurel, shooting up 84.1% from July 2016 through July 2022, according to Realtor.com data. That’s compared with a 71.9% increase nationally and 60.8% in Mississippi over the same period.
“I am a native Laurelite who is amazed about what has happened since Ben and Erin Napier have begun the ‘Home Town’ show in Laurel. When the show began, downtown was like a ghost town,” says Magee. “What we have experienced has blown the minds of everyone who knew Laurel pre-‘Home Town.’”
Bentonville, AR, where “Fixer to Fabulous” is filmed, is a bit of an exception as it’s a city of more than 55,000 residents. It’s also the birthplace and headquarters of Walmart.
However, the Marrses have seen tourism tick up as a result of their show. There are now golf cart tours of the homes that have appeared on “Fixer to Fabulous.”
“It’s a powerful thing,” Dave Marrs says of the HGTV effect on Bentonville.
But there are a few downsides.
Home prices can rise as a result of being in the spotlight, say the Marrses. The number of properties for rent and sale is likely to drop even further as out-of-towners move in. That’s likely to make it harder for locals to find places. And those who grew up in the community might find themselves competing with deep-pocketed investors and retirees.
When home prices increase, property taxes can also rise. That was a substantial problem that homeowners in Waco experienced.
Fort Morgan’s already benefiting from ‘Home Town Takeover’
Since the news broke in July that the new season of “Home Town Takeover” would be filmed in Fort Morgan, commercial properties downtown have been selling quicker, says Brian Urdiales, a Fort Morgan councilman and Compass real estate broker.
“It isn’t typical to see three commercial properties on Main Street go onto the market and then close in a short time,” he says. “It would be great to see all the foot traffic and people on Main Street like when I grew up.”
Tourists have also begun to trickle in, says artist Iungerich, 61, a lifelong resident of the town. She submitted the town’s original application to be on the show when it launched just before the COVID-19 pandemic hit in early 2020. And she created an art installation that will be featured on the show: a 5-foot-tall bowling ball, a 9.5-foot-tall pin, and a crown, all placed in front of the local bowling alley.
The recent trickle of tourists is certainly something new for Fort Morgan, founded after an eponymously named military post opened in the mid-19th century along the South Platte River.
Today, the fort no longer remains and Fort Morgan is primarily a farming and ranching community of about 11,500 residents. There is a large Cargill beef processing plant, a mozzarella cheese processing facility, and a historic sugar factory.
The old railroad depot is boarded up, but folks can still catch an Amtrak train to Denver or into Nebraska. There are some restaurants, and the movie theater has recently been remodeled.
Fort Morgan has “the blue-collar jobs. They have the farming. They just didn’t have the draw to keep people there,” Dave Marrs tells Realtor.com. “So a lot of our focus was ‘Hey, you’re working here, stay here. Spend time here, spend money here so the town can develop even more.’”
Despite the town’s struggles, Fort Morgan’s real estate market has remained appealing to buyers priced out of more expensive parts of the state. During the pandemic, many Denver-area buyers came to Fort Morgan seeking more affordable properties, more space, and a more rural lifestyle. Homes sold briskly in a single weekend, often for over the asking price.
The real estate market has since come back down as higher mortgage interest rates are forcing many would-be buyers to the sidelines. Home list prices are mostly back to pre-pandemic levels, at a median of $330,550 in March, according to Realtor.com data.
Homes in Fort Morgan are still attracting buyers, especially as prices are about half of Denver’s median price tag of $663,000 and roughly $100,000 less than the national median of $424,500 in March.
“Our market’s always been pretty strong,” says Urdiales. He’s still seeing bidding wars, investors making all-cash offers, and first-time buyers jumping into the fray. “People are still buying.”
And the international exposure the town is about to receive is expected to be positive for the real estate market, especially as many viewers are working remotely and can live just about anywhere.
“It brings this aura of glamour to the small-town lifestyle,” says Jeff Engelstad, a real estate professor at the University of Denver. “You get on a million people’s radar, and you’re going to land a few of them.”
Home prices surge in Wetumpka after ‘Home Town Takeover’
Perhaps the best blueprint of what’s in store for Fort Morgan might be what happened in Wetumpka, AL. The small town was featured in the first season of “Home Town Takeover,” which premiered in May 2021.
As HGTV broadcast this small town into living rooms all over the world, the real estate market caught fire. Prices rose and homes flew off the market. Homes for rent or sale were scarce.
Home list prices in Wetumpka grew 42.3% from January 2021 through January 2023, according to Realtor.com data.
While some of that is due to the hot housing market during the pandemic, Wetumpka saw much larger run-ups in prices than the state or rest of the country. Over the same period, prices rose 26% in Alabama and 23.9% nationally.
The market has since slowed along with the rest of the nation, but some homes are still receiving multiple offers, says Wetumpka real estate broker Beverly Wright, of Re/Max Cornerstone Realty.
“It’s pretty crazy,” says Shellie Whitfield, executive director of the Wetumpka Area Chamber of Commerce. “We’re still building housing, and once the shovel’s in the ground, they’re sold.”
When she moved to Wetumpka in summer 2017, about 40% of the stores downtown were boarded up. Now, only two storefronts are empty and busloads of tourists visit the town’s new bookstore, ice cream parlor, pet store, and even a high-end olive oil and vinegar store.
“They sped us up about 15 years. It’s been really great,” says Whitfield. “They just catapulted us just far beyond anything anyone could have imagined.”
Whitfield is confident the show will have a similar effect on Fort Morgan.
“They definitely will see some impact because there is such a strong following for the show,” says Whitfield.
The Marrses want viewers to be inspired to take action to turn their own towns around.
“I hope that people watch this show and say we can do that,” Jenny Marrs says. “It’s a spark that gets the fire started.”
Airline credit cards typically offer standard benefits, like bonus miles on airfare purchases, free checked bags and priority boarding. But one of the most valuable perks any airline credit card can offer is a companion ticket that can cut your cost of travel in half.
Thanks to its high welcome bonuses, earning structure and airfare discounts, the British Airways Visa Signature Card has long been considered one of the best credit cards from a foreign airline offered in the U.S., especially when you consider British Airways’ extensive U.S. route network. But it also comes with one of the most interesting companion travel benefits: the Travel Together Ticket.
The rules around redeeming this perk have recently been improved, and it is now easier to use and more valuable than ever.
Here are the details on this companion deal and how to maximize it.
How to earn the British Airways Travel Together Ticket
U.S.-based British Airways Visa Signature Card cardholders who spend $30,000 on their card in a calendar year can earn a Travel Together Ticket (posted within 4-6 weeks). The voucher is valid for outbound travel up to 24 months from the issue date (the return flight can be after that).
The British Airways Visa Signature Card offers 75,000 Avios after spending $5,000 in the first three months and exclusive offers when flying the carrier, such as a 10% discount on British Airways flights originating in the U.S., up to $600 in statement credits for award flight taxes and fees every year and earns 3 Avios per $1 spent with British Airways, Aer Lingus, Iberia and Level. The annual fee is $95.
Only the main cardholder with a registered address in the U.S. is eligible to earn the Travel Together Ticket; additional cardholers are not. Only one voucher can be earned each calendar year, even if the cardholder spends more than $30,000 on the card.
Rules for redeeming The Travel Together Ticket
The Travel Together Ticket comes with several conditions worth considering when it comes time to redeem it, some of which are positive and some negative.
Previously, these vouchers could only be applied to award bookings using British Airways Avios and on British Airways-operated flights. However, this rule has recently been relaxed, so they can now be redeemed on flights operated by Aer Lingus and Iberia, though note you must still book your flight(s) through British Airways Executive Club.
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The Travel Together Ticket differs from other companion tickets, which are more like a two-for-one paid deal. In this case, you’re getting a two-for-one award redemption but are still responsible for the taxes and other carrier-imposed charges on your ticket (which can be substantial). This also means you’ve got to find two awards open on the same itinerary in the same cabin. If you wish to travel in first class, two award seats on the same flight can be tough to come by.
For solo travel, you can redeem it for 50% of the Avios required for one passenger, which is a handy perk if you would rather travel alone and save Avios.
Previously, the voucher could only be used on round-trip itineraries originating in the United States. However, this rule has also recently been relaxed, so voucher holders can now commence their itinerary anywhere in the world that British Airways, Iberia or Aer Lingus operates from (provided there is Avios availability).
Your companion must be booked in the same cabin on your itinerary (unless you redeem it for solo travel). So if you book a business-class award for yourself, you must find a second one for your companion on the same itinerary. Stopovers are allowed.
Though the terms are not explicit, you should plan to have your card open and in good standing at the time your want to use your Travel Together Ticket.
Related: How to avoid fuel surcharges on award travel
When it makes sense to redeem the Travel Together Ticket
Now we come to the real question: Is it worth using the Travel Together Ticket? The answer depends on how you plan to redeem it.
British Airways awards are notorious for high taxes and surcharges on flights through London. While this generally makes economy awards a bad value, it can still be worth paying less than $2,000 per person to fly in business or first class as part of an award ticket compared to shelling out the cash fare, which will be many thousands of dollars, especially with premium fares across the Atlantic as high as they currently are.
BA introduced a new option in 2022 called Reward Flight Saver to use more Avios to reduce the cost of the taxes and surcharges on Avios redemptions.
British Airways award availability between the U.S. and Europe tends to be much better than what U.S. and other European carriers make available. So if you want to book an award, your chances of finding it are good.
The other key benefit is that British Airways has retained an award chart, so you can be confident of how many Avios you will need on any day — no 400,000 points per flight pricing with this program.
Related: Dynamic pricing vs. fuel surcharges — which is the lesser of two evils for your next redemption?
Now, let’s take four scenarios and compare the cost of using the Travel Together Ticket compared to purchasing airfare to determine whether this is a good deal.
To make things simpler, we’ll look at a single route from Atlanta (ATL) to London Heathrow (LHR) over a single set of dates in November since award availability was open across all four cabins offered by BA on these flights (these are off-peak dates). The taxes and fees are typical examples of what you would expect to pay, both for two people traveling together and solo travelers, given the ticket can also be redeemed for solo travel.
First up, economy. A round-trip award on this itinerary for two people using the lowest surcharge Reward Flight Saver option would cost 120,000 Avios plus 300 British pounds ($393) in taxes/fees.
If you were using this as a Travel Together Ticket, you’d still be paying 60,000 Avios plus $393 for two tickets. This is because you would only be charged the Avios for one passenger but the fees, taxes and surcharges for both. Compare that to the regular economy fare on the same dates of around $1,000 per person for non-stop flights and this would be a great way to use Avios to save hundreds of dollars.
If you are a solo traveler, you can redeem the Travel Together Ticket for 30,000 Avios plus $196 in fees, taxes and surcharges, saving over $800 on the cash fares for the same flight.
Related: A review of British Airways’ A350 in economy from London to Dubai
Now for premium economy. Here’s a sample award from the same week that would cost 190,000 Avios plus 660 British pounds ($864) for two passengers.
A paid fare on the same dates would be $1,813 per person, so $3,626 for two passengers. With a Travel Together Ticket for two passengers, you would be charged 95,000 Avios plus $864, saving you thousands off the cash ticket.
Solo travelers could redeem 45,000 Avios plus pay $432 in taxes and surcharges, another excellent way to save big on the $1,813 cash fare.
Related: Is British Airways premium economy worth it on the Boeing 777-300ER?
In business class, British Airways will charge 360,000 Avios plus 900 British pounds ($1,179) in taxes and surcharges for two passengers at the Reward Flight Saver rate.
With the 50% reduction in Avios with the Travel Together Ticker, you would still be charged a huge 180,000 Avios plus the full $1,179 co-payment. However, with cash fares on these dates close to $4,000 each roundtrip in business class, you would still save thousands of dollars using the voucher.
For solo travelers, just 90,000 Avios plus under $600 in taxes and fees saves versus $4,000 for a cash ticket is a great deal.
Related: British Airways’ Club Suites don’t disappoint: On board a retrofitted 777 from London to New York
Reward Flight Savers are not offered in first class, so while you’ll only need marginally more Avios than the business class rates above, you must pay the full fees, taxes and surcharges. For two passengers using a Travel Together Ticket this would be 170,000 Avios roundtrip plus an eye-watering 3,263 British pounds ($4,279).
While this would represent a decent saving on the cash fares of almost $6,000 per person, given the thousands of dollars of surcharges you must pay for a first class redemption, using the voucher for business class instead would be a much better deal.
How to earn Avios
If you want to use a Travel Together Ticket but don’t have enough British Airways Avios in your Executive Club account, British Airways is 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 Chase, Bilt and Amex at a 1:1 ratio (in addition to occasional transfer bonuses of up to 40%), while Marriott 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.
The following cards all currently offer strong welcome bonuses that you could easily convert to Avios:
American Express® Gold Card: Earn 60,000 Membership Rewards points after you spend $4,000 on purchases in the first six months of account opening. Terms apply.
The Platinum Card® from American Express: Earn 80,000 Membership Rewards points after you spend $6,000 on purchases within the first six months of card membership. Check to see if you’re targeted for a 125,000-point welcome offer through CardMatch (offer subject to change at any time). Terms apply.
Capital One Venture Rewards Credit Card: (see rates and fees) Earn 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening.
Capital One Venture X Rewards Credit Card: (see rates and fees) Earn 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening.
Chase Sapphire Preferred Card: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
Chase Sapphire Reserve: Earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
Ink Business Preferred Credit Card: Earn 100,000 bonus points after you spend $8,000 on purchases in the first three months from account opening.
Bottom line
The British Airways Visa Signature Card’s Travel Together Ticket can save you thousands of dollars on British Airways, Iberia or Aer Lingus flights from anywhere in the world by allowing two passengers to travel together, in any cabin with award availability and only pay the Avios required for one passenger. The spending requirement to earn the perk is high, though.
Following last years Reward Flight Saver rollout to allow passengers to reduce the notorious BA carrier-imposed surcharges by paying more Avios, this voucher is a valuable credit card perk for economy, premium economy and business class flights. However, the savings are less in first class as the Reward Flight Saver option is not available.
Rodrick Wayne Moore Jr., the famed rapper who goes by the stage name Roddy Ricch, is stepping back into the real estate market with his Beverly Hills home.
This time, the four-bedroom, five-bath property is available with a leaner price tag of $5.75 million—reduced from the original ask of $5.9 million in October 2022.
The musician picked up the home in 2021 for $5.6 million.
Cool crib
With more than 3,400 square feet, the private abode is tucked away among stately palms and lush lawns.
The verdant views outside pop against the interior’s soft, white color scheme. There’s a fireplace in the living room— which flows to the outside—along with the kitchen and dining area in the open floor plan.
The cook space offers luxe, stainless steel appliances and an island with seating for three.
Pretty wood floors, recessed lighting, and glass doors are among the home’s many enticing features.
One of the dwelling’s four bedroom suites is on the first floor and another larger space is situated upstairs. A private deck (and lounge for morning coffee or an aperitif in the evening) is right off the main bedroom. The primary bathroom boasts a very long tub and separate shower with a massive window in the center.
The requisite pool, spa, and grilling area are situated behind the home. There’s also another large, outdoor living room one level down from the swimming spot, with a big piece of lawn and a basketball hoop.
Ricch hit the charts with his single “Die Young” in 2018. He’s been nominated for nine Grammys, winning one in 2020 for Best Rap Performance. Next up for Ricch—a 2023 tour of 33 cities, as the opening act for Post Malone.
A message from our partner: The new Delta Vacations is even more rewarding than before. Click here to learn more and start planning your next trip.
Using Delta SkyMiles can be complex and frustrating due to frequent changes and a lack of award charts. However, once you accumulate enough miles and gain the necessary knowledge to navigate the program, you can extract significant value from them.
Historically, Delta has offered flash sales where round-trip tickets cost as little as 5,000 SkyMiles. They’ve also run flash sales for flights to Europe, including economy round-trip flights for 32,000 SkyMiles.
While it requires effort to understand and utilize SkyMiles effectively, many consider Delta’s inflight experience to be the best among domestic carriers — as does the data powering TPG’s own annual report on the best U.S. airlines (Delta took the top spot for the fifth straight year in 2023).
Today, we will explore five key things you need to know about Delta SkyMiles to maximize their value.
There’s no published award chart
Delta removed award charts from its website in 2015. If you want to save miles for a future award flight, you must search for your desired route on different dates to get an idea of the approximate number of miles required. However, it’s important to note that this range can change unexpectedly.
Another aspect to consider is the wide range of SkyMiles needed for the same route. For example, a domestic flight that costs 10,000 miles one day could be half that price just a few days later. To illustrate this, let’s look at the varying prices over one week for a short flight from New York’s John F. Kennedy International Airport (JFK) to Chicago’s O’Hare International Airport (ORD).
The variance can be even more significant when it comes to international routes, especially in premium cabins. Within a week one-way, business-class flights from JFK to Tel Aviv’s Ben Gurion Airport (TLV) range between 237,500 and 480,000 SkyMiles.
Availability with award programs is always a challenge. Still, without set prices, these significant variances force you to plan your trip schedule around availability rather than SkyMiles rewarding you with your desired schedule.
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Finally, with no fixed prices, last-minute SkyMiles award tickets function like revenue tickets: They tend to be significantly more expensive.
This is a major drawback to collecting SkyMiles compared to other legacy carrier miles. In this Hartsfield-Jackson Atlanta International Airport (ATL) to Cancun International Airport (CUN) example, close-in award tickets are roughly double than tickets a week or more out:
That said, it’s worth noting that you can reticket most Delta award flights (excluding basic economy) when the price drops. Many times, this can be accomplished right in the Delta app.
TPG director of content Nick Ewen did this twice on a one-way award ticket from Orlando International Airport (MCO) to Salt Lake City International Airport (SLC) for him and his family earlier this year. He initially booked three tickets at 25,000 miles apiece, but the price dropped to 20,500 miles and then 19,500 miles. Both times he was able to rebook his flight, ultimately putting 16,500 miles back in his SkyMiles account.
Related: Complete guide to changing and canceling award tickets
Adding segments can lower your award ticket price
Surprisingly, longer flights can sometimes result in lower award rates for a Delta award ticket. Delta tends to have limited competition on routes originating from its main hubs.
As an example, here’s a search from Detroit Metropolitan Wayne County Airport (DTW) to San Francisco International Airport (SFO) in economy class:
When you shift your origin to JFK, which is served by more carriers, the prices drop significantly — with many itineraries on these days connecting in Detroit:
Related: How to redeem Delta SkyMiles for maximum value
Partner award prices are now higher
In late 2022, award rates skyrocketed on partner flights booked through SkyMiles, as pricing was largely brought in line with itineraries entirely operated by Delta.
In short, it now costs a lot more to fly with partner airlines on flights to and from the U.S. — especially for business-class awards.
For example, Virgin Atlantic flights to and from the U.S. now cost around 210,000 miles when there’s award space — instead of the previous 86,000-mile price.
For reference, you can typically book this same business-class award for 47,500 Virgin Atlantic Flying Club points plus $926.70 — though it’s even cheaper (33,200 points) through Sept. 30 thanks to Virgin’s 30% discount on award redemptions this summer.
You’ll see similar increases on Aerolineas Argentinas, Aeromexico, China Airlines, China Eastern and Korean Airlines flights originating from the U.S.
Related: Leisurely luxury: A review of Virgin Atlantic’s A350 leisure configuration in Upper Class from Manchester to Orlando
Keep an eye on SkyMiles sales
Delta routinely offers SkyMiles sales. One of its most recent was round-trip airfare to Auckland Airport (AKL) from most major U.S. airports for just 37,400 SkyMiles round-trip. Last year, the airline offered round-trip awards from JFK to various gateways in the Caribbean and the Bahamas for just 8,000 miles round-trip.
We even saw select flights from Seattle-Tacoma International Airport (SEA) to beach destinations at just 2,500 miles each way back in Feb. 2021.
Keep an eye on Delta’s SkyMiles sales page to find these deals.
Related: The ultimate guide to Delta One Suites
You can earn elite status without ever flying
Delta SkyMiles lets you earn Medallion status without flying.
If you have both of the Delta cobranded cards issued by American Express that earn Medallion Qualification Miles (either the consumer or business versions of each card), you could spend your way to upper-level Platinum Medallion status without ever setting foot on a Delta plane.
Here are the four cards and the Medallion Qualification Miles (MQMs) they allow you to earn:
Delta SkyMiles® Platinum American Express Card: Earn 10,000 MQMs after you spend $25,000 in purchases on your Card in a calendar year, up to two times. Thus, you can earn a total of 20,000 MQMs by spending $50,000 in a year. The card’s annual fee is $250 (see rates and fees).
Delta SkyMiles® Platinum Business American Express Card: Earn 10,000 MQMs after you spend $25,000 in purchases on your Card in a calendar year, up to two times. Thus, you can earn a total of 20,000 MQMs by spending $50,000 in a year. The card’s annual fee is $250 (see rates and fees).
Delta SkyMiles® Reserve American Express Card: Earn 15,000 MQMs after you spend $30,000 in purchases on your Card in a calendar year, up to four times. Thus, you can earn a total of 60,000 MQMs by spending $120,000 in a year. The card’s annual fee is $550 (see rates and fees).
Delta SkyMiles® Reserve Business American Express Card: Earn 15,000 MQMs after you spend $30,000 in purchases on your Card in a calendar year, up to four times. Thus, you can earn a total of 60,000 MQMs by spending $120,000 in a year. The card’s annual fee is $550 (see rates and fees).
If you hold the Delta Platinum Amex and the Delta Reserve Amex and can put $50,000 and $120,000 in spend on them (respectively), you’ll reach Platinum status. That’s because you’ll have 80,000 MQMs (just ahead of the required threshold of 75,000) and will waive the Medallion Qualification Dollar (MQD) requirement for Silver, Gold and Platinum Medallion status.
While not Delta’s top tier, Platinum Medallion still comes with unlimited upgrades and a selection of Choice Benefits that can improve your flying experience.
For reference, the Diamond MQD waiver only kicks in once you’ve spent $250,000 on eligible purchases across your Delta cobranded American Express credit cards.
Note that all four of these cards also include a 15% discount on Delta-operated award flights when you redeem your SkyMiles and pay the taxes and fees with the card. This doesn’t apply to partner tickets.
Related: Best Delta credit cards
Bottom line
Delta SkyMiles remains a solid choice for Delta travelers. I continue to find great value in using SkyMiles for domestic flights for me and my family, and I find equal value in holding Delta Platinum Medallion status. However, SkyMiles isn’t the currency to hold if you’re looking for aspirational or long-haul premium cabin awards.
For rates and fees of the Delta SkyMiles Platinum Amex Card, please click here. For rates and fees of the Delta SkyMiles Platinum Business Amex Card, please click here. For rates and fees of the Delta SkyMiles Reserve Amex Card, please click here. For rates and fees of the Delta SkyMiles Reserve Business Amex Card, please click here.
Additional reporting by Ryan Smith, Nick Ellis and Richard Kerr.
Chicago Bulls star Zach LaVine has purchased a Southern California beachfront mansion for $34 million, according to The Real Deal.
The 11,200-square-foot, six-bedroom, seven-bathroom, Tuscan-style villa is in a gated community in Newport Coast, CA.
Views from all angles
Built in 2010, the mansion offers panoramic Pacific Ocean views, while its manicured lawns and meticulously placed shrubbery create a resortlike feel.
A stone walkway at the home’s entrance leads to an oversized, arched doorway.
It’s all in the details
Inside, a dramatic staircase with marble steps, a rustic chandelier, and small sitting area make for a high-impact entry.
The large kitchen has a spacious center island, wooden cabinetry, and beamed ceilings. Marble countertops provide plenty of space for meal prep, and the bar seating is perfect for guests.
A separate dining area with a fireplace and hardwood floors is the ideal backdrop for holiday dinners and formal gatherings.
The abundant arched doorways throughout the home are a delightful design detail.
Luxurious yet relaxed
The estate also has plenty of luxe sitting and lounge areas. Some of these spaces boast marble fireplaces, while others feature beamed ceilings. One sitting area even opens to a pool room outfitted with a modern chandelier.
Royal treatment
The bedrooms are fit for royalty. Between spacious balconies, private patios, and, yes, more fireplaces, you might never want to leave these sleeping quarters.
And with six bedrooms, there’s more than enough room here for overnight guests.
Spa-inspired amenities
You’ll feel as if you’re at a five-star spa when you use any of this home’s bathrooms
Breathtaking and massive, these incredible washrooms have multiple vanities, carved wood doors, and cavernous tubs.
But wait, there’s more
And that’s not all. Additional amenities include a home theater, gym, golf simulator, and built-in whirlpool.
The main bedroom suite’s heated floors and retractable television round out the extravagance.
LaVine, 28, has starred as a shooting guard for the Chicago Bulls since 2017. The high-scoring shooter has made two All-Star teams but has yet to lead the Bulls on a deep playoff run.
Prudential Financial, Inc, or Pru, has been in the financial services and insurance business for almost 140 years. The company has been helping both individual and business clients to both grow and protect their wealth throughout that time. Pru is considered to be one of the largest financial services institutions in the world, with operations in the U.S., as well as in Europe, Asia, and Latin America.
The company has for many years had one of the most recognized brand symbols across the globe, as “The Rock” – its icon of strength, stability, expertise, and innovation – is known by both investors and non-investors worldwide, as is the company’s long-running corporate slogan, “Get a piece of the rock.”
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The Company and Its History
Prudential was founded in 1875 in Newark, New Jersey, by insurance agent John Fairfield Dryden. The company began in a basement office as “The Prudential Friendly Society.” The goal of Dryden was to make insurance coverage available to the working-class people, and it sold primarily industrial insurance – a type of coverage that provides burial and funeral coverage for low-income families. At that time, some of the policy premiums were as low as three cents per week.
Within just a few years, The Prudential Friendly Society expanded into Philadelphia and New York City, and its assets had reached $1 million. By 1885, the company had even sold its one-millionth policy. That year, the company’s name was also officially changed to The Prudential Insurance Company of America. It also adopted The Rock of Gibraltar as its company symbol.
Today, Prudential serves customers in 41 countries and territories, and it has roughly 47,000 employees around the world. The company holds approximately $1.176 trillion in assets under management.
Products Offered By Prudential
Prudential offers a variety of insurance and annuity products to both consumers and the business market. For consumers, the following insurance products can be found:
Term Life Insurance – Term policies provide “temporary” protection for a set period of time, such as for 10 years, 15 years, 20 years, or 30 years. This type of coverage can be quite affordable – especially if the applicant is young and in good health at the time that he or she is applying for coverage. If you are not in the best health and you feel a policy for life insurance with no exam is the best way to go for you, we can help find the best carrier for your needs. This is because term life provides only pure death benefit protection, without any type of cash value or investment build-up. Term life can be a good choice for those who are seeking to pay off the balance of a mortgage or other temporary needs, as well as for those who are looking for a large amount of death benefit protection but who do not have a large premium budget.
Universal Life Insurance – Universal coverage provides both death benefit protection, as well as a cash value component. The cash value is allowed to grow on a tax-deferred basis, meaning that no tax is due on the gain of the cash value until the time it is withdrawn. This means that the cash can essentially grow and compound exponentially over time. Universal life insurance offers policyholders a great deal of flexibility in that they can choose – within certain parameters – when they make their premium payment, as well as how much of that payment is allocated to the death benefit and how much of it is allocated to the cash value component.
Variable Universal Life Insurance – Similar to regular universal life, variable universal policies provide a death benefit and a cash value component, along with tax-deferred growth. However, the cash value component is tied to underlying market performance. This provides the policyholder with the ability to grow their cash even more – provided that the market performs favorably. Conversely, these policies can also be riskier if the market has poor performance.
In addition to life insurance, Prudential provides fixed and variable annuities. These products can help those who are either already retired, or those who are approaching retirement, to meet various goals. For example, those who are saving for retirement can participate in tax-deferred savings. Those who are seeking income can choose from a variety of different income options – including a lifetime option where they may receive income for the remainder of their life, regardless of how long that may be.
Prudential also offers additional types of insurance coverage products such as auto, home, RV, watercraft, and personal liability insurance, as well as retirement planning products and investment services to its customers in order to help them meet both their short- and long-term financial needs and goals.
Additional services that are offered by the company include the firm’s “Special Needs Solutions,” which address the unique concerns of parents who have children with special needs, as these families may require specialized life insurance and financial planning advice.
Financial Strength Ratings
Prudential holds strong ratings from the ratings agencies. These include the following:
A.M. Best
Standard & Poor’s
Moody’s Investor Services
Fitch Ratings
A+
AA-
A1
A+
Advantages and Drawbacks
While Prudential is a strong contender in the insurance and financial services industry, the company has both advantages and drawbacks. With that in mind, it is important to consider all of these prior to moving forward with the purchase of a policy with the company in order to ensure that the policy that you choose meets all of your particular coverage needs and goals.
On the plus side, Prudential provides a nice selection of term and universal life insurance products. These particular plans all have strong features – and because they are backed by Prudential, policyholders can be assured that they have coverage that is backed by an extremely strong life insurer.
In addition to providing very good policy rates to those who are in good health, Prudential may also offer favorable rates to those who are tobacco chewers, as well as to those who are cigar users.
In addition to the product positives, Prudential also has high rankings for its customer service. Representatives can be reached in several ways, including via phone or through live website chat. Reps can also be reached through Twitter, Facebook, and Google+. This makes it extremely easy for policyholders who need answers to their questions, or even for those who are researching whether or not to purchase new or additional coverage. Additional information can be found on Prudential’s customer service FAQ page on the company’s main website.
Unfortunately, even with all of the good, there are a few drawbacks to Prudential. First, those who are seeking whole life coverage are out of luck, as the company does not offer this type of policy. So, while universal life policies provide individuals with flexibility, not offering whole life to those seeking guarantees leaves out a potentially huge area of the marketplace.
In addition, those who may have adverse health conditions could have a difficult time finding coverage directly from Prudential’s online quote page. Therefore, in these instances, it is likely best to work with an agency or company that specializes more in higher-risk cases and who can provide more of a comparison shopping experience.
Annuities Offered by Prudential
Another product that is offered by Prudential is its retirement investments. One way that they do that is through annuities. Annuities are contracts that you hold with an insurance company (in this case, Prudential), and it’s a safe way to invest your money. Annuities are one of the most popular investments for people as they start planning for their retirement. The money is invested in a professionally managed portfolio, where it grows money tax-deferred. Once you retire, you can start receiving a paycheck to fund your retirement dreams.
If you’re going to purchase an annuity from Prudential, then you’ll be buying a variable annuity. Unlike a fixed annuity, the variable annuity could fluctuate depending on the investments inside of the annuity.
When you want to access your money, there are some restrictions on getting your hands on your investment money. If you want to start making withdrawals before you are 59 and ½, then you’re going to be subject to an additional 10% federal income penalty on top of the income taxes that you’ll already be paying.
How and Where to Buy the Best Life Insurance Coverage
To get the very best life insurance for your specific needs and goals – regardless of your particular health condition at the time of application – it is always a good idea to first make comparisons.
Just like the purchase of any other key product or service, you will want to make sure that you are obtaining the very best deal possible. This is a product that you are purchasing to protect the people who are most important in your life. With that in mind, you should expect it to be the very best – and that it be there for the long haul.
If you are ready to begin making life insurance policy and premium quote comparisons, my preferred partner is here to help. They work with many of the best life insurance companies in the industry today – and can help to provide you with all of the information that you need. They are also available to answer any of the additional questions or concerns that you may have.
When you’re ready to begin the process of locating the life insurance policy and premium that is best for you and those you love, use the form on the side of this page to run your own quotes and work with our preferred life insurance partner.
I understand that purchasing any type of insurance, such as life or health insurance, is a big decision, and we want to ensure that you have all of the information that you need before moving forward. So, feel free to contact us now – we are here to help.
From its variety of parks and bike trails to its fresh produce and amazing restaurants, Minneapolis is the place to be. Locals will quickly rattle off important facts about the town in which there’s always something new to discover. This includes places to eat and shop along with outdoor areas to explore.
Whether you need a new coffee shop, a new pub or a new place to take a walk, our expert locals have dished out their favorite spots. Where will you try first?
1. Harriet Island
There are plenty of outdoor spots to spend the day in Minneapolis. With the largest parks system in the country, there’s never a shortage of options for outdoor fun. But, with so many options, where to go can leave some locals unsure.
An outdoor spot big with locals for its picturesque views is Harriet Island. “It has amazing views of the river and the St. Paul skyline. The paddle boats along the river are fun to see, and you can make reservations to go out on them for dinner or lunch,” shares Jeannine Marie from Jeannine Marie Photography.
2. Lyndale Park Rose Garden
For a walk among the flowers, check out the Lyndale Park Rose Garden. This local gem is the second oldest public rose garden in the country. Jessica Strobel from Jessica Strobel Photography says the more than 3,000 plants make the garden feel “magical.” Plus, the spot is near the Harriet Lake bandshell, “where there is always something going on.”
3. Mill City Museum
“I enjoy St. Anthony Main and Mill City Museum for walking around in Minneapolis,” says Erin Johnson from Erin Johnson Photography.
The museum is a great spot, alongside Mill Ruins Park in Downton East. It sits right on the banks of the Mississippi River as well, so you’ve got plenty to see all around the area.
4. Greenway Bike Trail
When it comes to the best biking trail, the team from City Paws Pet Club suggests the Greenway Bike Trail. Stretching through Longfellow, and running parallel to Lake Street, this particular trail follows along a former railroad track.
5. Any local lake
Even with these specific spots, you can’t talk about the outdoors in Minneapolis without discussing the city’s lakes. Walking around any of them is a favorite pastime of Amy Lamphere, Founder of Storyline Collection. Walking lakeside is her favorite because she, “thrives on people-watching, and listening…and I get my steps in!”
6. Mr. Paul’s Supper Club
You’ll find fantastic food in every part of Minneapolis thanks to the foodie-friendly vibe throughout the city. But, locals will always have their favorites.
For those in Linden Hills, Ashley Becerra from Everyday Ejiji suggests grabbing a bite at Mr. Paul’s Supper Club. It has an, “absolutely amazing menu, unique NOLA eats and a killer cocktail list.” If you visit, she suggests you try the frozen French 75.
7. Sociable Cider Werks
When you’re craving a refreshing drink that’s crisp and clean, check out Sociable Cider Werks. This hot spot located, in Northeast Park, is a favorite of Devin Abraham from Once Upon a Crime Bookstore. It’s where you’ll find, “great drinks and atmosphere, and they have a delicious food truck on site.”
8. A day of dining in Minneapolis
Planning a whole day around food is certainly possible as well. For Julie Thornburg, Corporate General Manager at The Buttered Tin NE, finding the right is the key to a great day in Minneapolis.
“We would start the day at The Buttered Tin NE for a delicious breakfast, of course!” says Thornburg, “Then we would venture over to the Minneapolis Farmers Market to pick up some fresh goods. Throughout the day we would visit some of our local favorites: Kieran’s Food Building and Centro. For spirits, later on, we love Tattersall Distilling.”
This tour of hidden gems takes you through Northeast Minneapolis and will keep your belly full all day long.
9. Spyhouse Coffee
Josh Olson from J. Olson Weddings believes that every great day begins with Spyhouse Coffee. “My ideal day starts in the morning, spent with a friend, reading a book at Spyhouse Coffee on Nicollet.” This is a perfect stop for those in or near the Whittier neighborhood of Minneapolis, although the coffee shop does have other locations throughout the city.
10. Penny’s Coffee
A great spot for morning commuters trekking through downtown is Penny’s Coffee. Just ask Rachel, the Shop Manager at Anna Bé Bridal Boutique. “I have been obsessed with Penny’s Coffee lately. They have a great outdoor + indoor space with the best coffee, crepes and pastries.”
11. Hunt and Gather
There’s no shortage of hidden gems in Minneapolis when it comes to shopping, and locals all have different favorites. According to Max Zdon, from Corazon, the best thrift shop in town is Hunt and Gather in the Fulton neighborhood.
12. Southside vintage shops
Meghan Kujawa-Smith from Fox & Loon Photography prefers to hit up the vintage shops. They include Carousel and Folk and Southside Vintage in Standish and Tandem Vintage just a little to the south.
Discovering the hidden gems in Minneapolis
Seeking out those small, locally-owned spots throughout Minneapolis is a worthwhile endeavor. Make the effort to find these hidden gems and reap the rewards. Where you call home will impact what hidden gems you adopt as your own, but from outdoor fun to fine dining and stellar shopping, you won’t have any shortage of options in Minneapolis as you explore.
Lesly Gregory has over 15 years of marketing experience, ranging from community management to blogging to creating marketing collateral for a variety of industries. A graduate of Boston University, Lesly holds a B.S. in Journalism. She currently lives in Atlanta with her husband, two young children, three cats and assorted fish.
[Note from the editor: Originally published on Thomvest’s Blog]
Today we’re releasing an updated version of our commercial real estate technology market map. The full list of companies is available here, and a high-resolution version of the map can be accessed here. This market map includes more than 220 technology companies operating across every aspect of commercial real estate, and range from seed stage businesses to public companies. If you’d like to suggest a company to be added to this market map, please submit them using this form.
Broadly defined, commercial real estate (CRE) includes any property owned to produce income. In total, more than 100 billion square feet of space in the United States is devoted to commercial use. Because commercial property is acquired for investment purposes, it differs from its residential counterpart in several important ways:
Commercial real estate is a diverse asset class that can take on many forms: office buildings, retail stores, malls, apartment complexes, homes, hotels and more.
Every property is analyzed for its ability to generate income. In most cases, there is a leasing component to commercial property ownership (which is the main revenue-generating activity), whereas in residential real estate properties are often owner-occupied.
Commercial properties are actively managed by teams responsible for leasing, routine maintenance, improvements and amenities to ensure that the building is suitable for occupants.
As the map above indicates, there are hundreds of technology companies across every aspect of the commercial real estate lifecycle, from property search and financing, to leasing and ongoing management. You’ll notice that several companies are included in more than one section — this is due to the fact that many of these businesses have expanded their product areas to capture multiple phases of the CRE lifecycle. For example, VTS recently launched a listings marketplace offering to compliment its suite of leasing and asset management tools. As such, we’ve included VTS in both the “Find Property” and “Manage Property” sections.
Assessing the Impact of COVID-19 on Commercial Real Estate
It’s no secret that the pandemic has dramatically altered our ability to utilize commercial real estate. The pandemic has impacted every CRE segment (office, hospitality, retail, etc.) and every phase of the asset ownership lifecycle (leasing, financing, utilization, etc.). The pandemic will likely continue to influence occupiers and end users of real estate in unprecedented and unique ways, which will have implications for the entire CRE industry.
This is particularly true in the office segment, as the abrupt change in the way we work has required mass remote working. Interestingly, as companies have transitioned from office work to remote work, many employees are reporting no meaningful impact on productivity. Even as lockdowns are slowly eased, as many as 75% of employees prefer to work from home out of caution or convenience. This has caused many in the industry to ask: Is the office as we know it dead?
Given these lingering existential questions, we’re witnessing the reimagining of office environments designed to anticipate what the “next normal” will look like. Tenants and landlords are working hard to determine an approach for re-entering the office, and the impact of remote work on future space needs. While there are many questions we’ve yet to answer, we anticipate the office category evolving in several important ways, and expect technology companies to play a central role in that evolution:
Emphasis on Safety:As new case volume persists, businesses have been cautious to re-open offices. In an August survey of 15 employers that collectively employ about 2.6 million people, 57% said they had decided to postpone their back-to-work plans because of recent increases case volume, according to the Wall Street Journal. Employers are also developing safety measures to facilitate a smooth re-opening, including redesigned workspaces and temperature checks. We expect additional safety standards to be developed, including staggered employee schedules, space plans to promote social distancing, safe hygiene practices, cleaning protocols, and guidance on using elevators. Technology is a key component of ensuring that both tenants and landlords abide by these emerging safety protocols.
Flexible Work Arrangements:The pandemic catalyzed a massive work-from-home experiment. In many cases, employees actually prefer remote work as it provides flexibility, reduces (or eliminates) commute times and enhances productivity. More than 75 percent indicate they would like to continue to work remotely at least occasionally, while more than half — 54 percent — would like this to be their primary way of working, according to IBM. The forced shift to operating remotely has led to nearly 40 percent of employees indicating they feel strongly that their employer should provide opt-in remote work options when returning to normal operations.
Flexible Space Needs: As offices reopen after COVID-19 shutdowns, we will likely see a mix of new use cases. Some companies will require more office space to further space out employees and reduce potential transmission, while others will move to permanent work-from-home arrangements or a hybrid of home, co-working, and office spaces to minimize commutes and maximize social distance. This will create more demand for flexible office space, including co-working space offered by companies like WeWork and Industrious. According to JLL, 67 percent of corporate real estate decision-makers are increasing workplace mobility programs and are incorporating flex space as a central element of their agile work strategies. JLL “expects 30 percent of all office space globally to be flexible in some form by 2030” (up from about 3% today).
In every industry, technology is an important enabler of not only process efficiency, but also of customer satisfaction and growth, and real estate is no exception (particularly during this pandemic). We’ve already seen technology companies step up to offer useful solutions for landlords and tenants. For instance, companies like Envoy are offering safety-focused tools including employee registration, touchless sign-in, wellness checks and capacity management to employers preparing to re-open their offices. We also expect accelerated adoption of digital solutions related to property and building management, leasing and transaction management. Working on furthering the adoption of technology in real estate? We’d love to talk.