Perhaps unsurprisingly, it didn’t take long for a castle in Georgia to find a buyer. The fanciful space is currently pending sale.
In fact, the first person who saw the Oakhurst Castle in Decatur, GA, put in an offer on the 116-year-old property. The home—a real standout in its suburban Atlanta neighborhood—is listed for $1,335,000
“It’s in an area that’s full of 1920s bungalows interspersed with new construction, and then you’ve got this castle-looking building on a corner lot that just doesn’t look like anything else,” says listing agent Kathleen Sickeler, with Coldwell Banker Realty. “It’s in an amazing school district and at that price point, we knew we would get offers right away.”
The current owners bought the place in 2012 for $575,000 and, as Sickeler says, did all of the necessary but “unsexy stuff” to the property—updating the electrical, replacing the plumbing, adding insulation, and other essential upkeep.
And all of their work seems to have helped attract a buyer.
“It was very turnkey—nothing needed to be done,” Sickeler says. “The potential buyer really didn’t have to do anything except just walk into this updated, modernized home that is filled with all the integrity and character of a bygone era.”
The castle was built in 1907 and, according to lore, the original owner had an affinity for English castles; so he built one for his family on a piece of property and added a courtyard and many other special touches, Sickeler notes
“His brother is said to have owned a stained-glass factory in California, hence why there’s a lot of stained glass in the property and a lot of original glass windows,” she says, adding that the large stained-glass window in the stairway has mysterious origins. “It was hanging in the home when the sellers purchased it. They made it a permanent fixture and put it in a window. Nobody knows if it came from the brother’s factory. You hear these stories that can’t be validated but seem to have been passed along generation to generation.”
There are four bedrooms and three bathrooms in the 3,318-square-foot house. The turret connects to one of the bedrooms, creating a a cozy spot.
“It’s just a beautiful, round reading nook, and everywhere you look, you see a beautiful view,” Sickeler says.
The ground floor of the turret is an open patio-seating area.
Another of the home’s unique features is the overhead painting in the kitchen. The design features a nod to the iconic “The Joy of Cooking” cookbook.
“In the skylight, you’ve got this huge hand-painted mural,” Sickeler says. “It was painted in 1992 for the previous owners, and you’ll never find anything like that in another house.”
The home also offers a detached garage with a bonus area that Sickeler calls a great hangout space.
The home’s interiors are surprisingly modern but still seem to fit with the character of a castle.
In fact, the listing agent and sellers had discussions about how to emphasize the light and bright interiors to potential buyers, who might have imagined an old castle would be dark and dusty inside.
Sickeler emphasizes that the house definitely speaks for itself.
“Once you walk in, you’ve got a beautiful amount of light coming through that stained-glass window,” she observes. “It’s such a grand foyer. It just opens up and with high ceilings. It’s just beautiful. You walk in you just feel, ahhh.”
Nestled in the heart of Florida’s beautiful Panhandle, Tallahassee offers a captivating blend of Southern charm, vibrant culture, and endless opportunities. This dynamic capital city is more than just a seat of government; it’s a place captivated by enchanting canopy roads, mouthwatering Southern cuisine, and the energy of college football. With its lush green landscapes, rich historical heritage, and thriving arts scene, Tallahassee paints a picture of a city that embraces its residents with open arms. However, living there has its disadvantages, including severe weather, limited public transportation, and a small airport.
So Whether you’re looking for Tallahassee apartments or are searching for homes for sale, this Redfin article is a great resource. It covers ten pros and cons of living in Tallahassee, helping you determine if this city is right for you.
Pros of living in Tallahassee
1. Affordable cost of living
This charming city offers an inviting atmosphere that won’t break the bank. Tallahassee shines as a beacon of affordability, offering a reasonable cost of living, from housing to daily expenses. Imagine a place where your hard-earned dollars stretch further, allowing you to enjoy a comfortable lifestyle; you’ll find that here.
The median sale price in Tallahassee is $250,000, well below the national average of $400,378. You’ll even notice how rent prices are just as affordable. The average rent for a two-bedroom apartment is $1,197, making it an excellent destination for those on a budget. With reasonable housing prices, budget-friendly dining options, and cost-effective entertainment opportunities, Tallahassee invites you to savor life’s pleasures without sacrificing your financial peace of mind.
2. Rich cultural heritage and diverse arts scene
Tallahassee’s historical roots are deeply entwined with Native American, Spanish, and African-American influences, all contributing to a unique cultural blend that’s palpable in its architecture, food, music, and community festivals. Delve into the past as you wander through the historic districts in Tallahassee, such as Frenchtown and Smokey Hollow. There, you’ll notice heritage resonating through art, music, and storytelling. After, immerse yourself in the captivating world of the arts at the vibrant Railroad Square Art Park, where galleries, studios, and creative spaces showcase diverse artistic expressions.
3. Abundance of natural beauty and outdoor recreational opportunities
Tallahassee, a true haven for nature enthusiasts, awaits your arrival with its awe-inspiring natural beauty and thrilling outdoor adventures. Prepare to be enchanted by the city’s picturesque landscapes, where sprawling oak trees create beautiful canopies along scenic roads. Explore the wonders of Maclay Gardens State Park, where vibrant flowers and tranquil lakes beckon you to take strolls or embark on invigorating hikes. And imagine the thrill of kayaking down the pristine waters of Wakulla Springs, encountering graceful manatees and abundant bird species along the way. Tallahassee has something to love, whether you seek serenity in a peaceful park, the thrill of an adrenaline-pumping adventure, or simply the opportunity to connect with nature’s beauty.
4. Plenty of sunshine throughout the year
The Sunshine State’s hidden gem, Tallahassee, basks in the warm embrace of abundant sunshine throughout the year. With its enviable climate, this city radiates a cheerful and uplifting energy that invigorates residents and visitors. Imagine waking up to sunny skies and golden rays, a daily dose of natural positivity that fills your soul. Whether you’re strolling through the picturesque parks, basking in the glow of a vibrant sunset, or engaging in outdoor activities, Tallahassee’s year-round sunshine offers endless opportunities to soak up its invigorating warmth.
5. Numerous festivals, events, and entertainment options
Prepare to be swept away by a whirlwind of cultural celebrations that unite the community and ignite the spirit of joy in Tallahassee. Join in the revelry of the Tallahassee Downtown Market, where local artisans showcase their talents and offer a treasure trove of unique crafts and delicious treats. You’ll also find the lively Tallahassee Food Truck Festival, a culinary extravaganza where tantalizing aromas and delectable flavors take center stage. For sports enthusiasts, the Tallahassee Marathon and Springtime Tallahassee Parade offer opportunities to cheer on athletes and revel in the city’s vibrant spirit. No matter the time of year, Tallahassee’s calendar is brimming with festivals, events, and entertainment options.
Cons of living in Tallahassee
1. Limited public transportation options
The city’s public transit system primarily relies on buses, with a network that may not be as extensive as in larger metropolitan areas. The transit score for Tallahassee is 30 which falls into the car-dependent range, and while efforts have been made to improve transportation accessibility, it’s important to note that the system may have limitations in terms of coverage and frequency. This means that owning a car or relying on alternative modes of transportation becomes necessary for many residents to navigate the city efficiently.
2. Occasional impact from hurricanes and tropical storms
Given that Tallahassee is located in the central region of Florida, it occasionally experiences the impact of hurricanes and tropical storms. While the city is well-prepared to handle such weather events, it’s essential to be aware of the potential risks and take necessary precautions. Tallahassee’s location may occasionally face strong winds, heavy rainfall, and temporary disruptions to daily life.
3. Hot and humid summers
During the summer, residents and visitors can expect the temperatures to exceed 90 degrees Fahrenheit. As temperatures rise and humidity levels soar, the summer heat can become intense and uncomfortable. The high levels of humidity can make outdoor activities challenging and can lead to feelings of fatigue and discomfort. Staying hydrated and seeking shade become essential during this time. Additionally, the hot and humid weather may limit particular outdoor pursuits and make it less enjoyable to spend time outdoors.
4. The small airport can be limiting
Tallahassee’s airport facility, while serving the city and its surrounding areas, is relatively small compared to major international airports. This can be seen as a con to living in Tallahassee, particularly for those who frequently travel long distances or require a wide range of flight options. The smaller airport size may result in limited direct flights and fewer airlines operating in the area, leading to higher airfare costs and potential inconveniences when planning trips. Additionally, connecting flights may be necessary for reaching certain destinations, which can add travel time and possible complications.
5. High annual precipitation
Tallahassee experiences relatively high annual precipitation, which can be seen as a con for some individuals considering living in the area. In fact, Tallahassee is ranked position 9 of the rainiest cities based on the average annual precipitation total. The city receives ample rainfall throughout the year, contributing to the lush greenery and vibrant landscapes that characterize the region. However, the higher precipitation levels may present challenges such as increased humidity, occasional flooding in low-lying areas, and the need for adequate drainage systems. Additionally, heavy rainfall can impact outdoor activities and limit the availability of certain recreational opportunities. Though rain enhances the city’s natural beauty and adds to its splendor, it’s crucial to anticipate the potential inconveniences caused by higher annual precipitation.
Is Tallahassee a good place to live? Final thoughts
When deciding whether or not to make Tallahassee your home, it is crucial to approach it with thoughtfulness. Consider your preferences and priorities, while recognizing the benefits and occasional obstacles that come with embracing this remarkable city.
The new home sales report has been the same story for almost 18 months, with home sales stabilizing from a low level.
From Census: New home sales: Sales of new single‐family houses in April 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.1 percent (±11.8 percent)* above the revised March rate of 656,000 and is 11.8 percent (±15.1 percent)* above the April 2022 estimate of 611,000.
Last year, while the Census Bureau was reporting the new home sales numbers and the builders were having high cancellation rates, the monthly sales report didn’t account for the cancellations of contracts. This can make the monthly reports higher than normal, so taking that into consideration, the new home sales numbers were really low last year.
Last year, sale levels were meager and once mortgage rates fell and the builders were buying down rates to get more homes sold, the data stabilized and moved higher slowly. To give you an idea of the percentage of homes where the builders were giving a buy-down, the chief economist of the National Association of Home Builders, Robert Dietz, tweeted out this data line on Tuesday: “21 pct of builders used mortgage rate buy downs in April. It was 33 pct last Fall. More likely big builders.”
Looking at new home sales with an historical context, you can see that we weren’t working from a high bar last year on sales. So, the bar was very low to just have demand stabilize as rates fell, much like the existing home sales market. We also have a lot more workers now than what we did back in 1996 — the level where new home sales were trending last year.
Just like with the existing home sales market, all that is happening is that home sales stabilized from a low level.
This is different from the 2007 housing market when the builders’ sales were still collapsing and monthly supply spiked with rising cancellation rates. The opposite is happening now; cancellation rates have been falling from a high level and monthly supply is falling.
I have a straightforward model for when the homebuilders will start issuing new permits with some kick and duration. My rule of thumb for anticipating builder behavior is based on the three-month supply average. This has nothing to do with the existing home sales market — this monthly supply data only applies to the new home sales market, and the current 7.6 months are too high for the builders to issue new permits with any natural steam.
When supply is 4.3 months and below, this is an excellent market for builders.
When supply is 4.4-6.4 months, this is just an OK market for builders. They will build as long as new home sales are growing.
When supply is 6.5 months and above, the builders will pull back on construction.
From Census: For Sale Inventory and Months’ Supply:The seasonally adjusted estimate of new houses for sale at the end of April was 433,000. This represents a supply of 7.6 months at the current sales rate.
When we talk about the monthly supply data, we need to break it into subcategories because the 7.6 months has confused many people.
The Inventory for homes completed is at 70,000 = 1.23 months of supply.
The Inventory for homes under construction is 263,000 = 4.6 months.
The Inventory for homes that haven’t started yet is at 100,000 = 1.8 months
As you can see, we don’t have a lot of new homes ready to go — we have an abnormally high number of new homes still in construction and the builders don’t just ramp up production until they know they can sell those homes for a profit. I am skeptical of any big pick-up in housing permits until we exceed 6.5 months of supply and new home sales rise.
So, if you’re confused about housing still being in a recession while were supposed to have been in a bubble crash last year — only to see the builders doing OK with the data above, I don’t blame you. Traditionally, with a housing bubble crash, you don’t have new home sales stabilizing, cancellation rates falling, monthly supply falling and rising builders’ confidence. These economic data lines don’t happen when we are in a housing bubble crash year.
The real story is that active listings are still very low historically, the builders had and still have a significant backlog of homes to finish and get sold, and they’re working through that backlog. They can do this by cutting prices and buying down rates, as I believe they are efficient sellers.
Now that mortgage rates have hit 7%, the question is whether the builders can continue to keep this slow uptrend in sales going. The housing market has not responded well with 7% plus mortgage rates and this is now the third time this has happened since the big run-up in mortgage rates in 2022.
As landlords struggle to get people back into office buildings that emptied during the pandemic, some are turning to entertainment and other enticements such as yoga classes to woo wary workers.
At the Water Garden office complex in Santa Monica, a dance troupe has taken up residence and puts on free performances and classes for kids. Flower arranging classes are packed and the weekly tenants-only comedy show after work is a hot ticket. Musical performances by local artists are a lunchtime draw.
Farmers markets, concerts, art shows and other attractions for office tenants aren’t completely new, but they have taken on urgency as landlords and executives of companies occupying their buildings strive to get workers enthused about showing up.Some property owners are hiring “tenant experience managers.”
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In most commercial buildings, only about half the workers show up at their offices on weekdays, key-card swipes reveal. Office leasing is also weak: Space rentals declined again last quarter to bring the overall total of unleased space in Los Angeles County to nearly 20%, well above the 12% rate before the pandemic.
To get workers in the office, “you need to find new ways to engage people,” said Bess Wyrick, head of programming at the Water Garden for property manager CBRE.
With daily office attendance not mandatory at many companies, “It’s no longer about trying to create a work-lifestyle balance,” she said. “It’s about creating a hybrid workplace where people are excited to come.”
Hybrid work patterns have spread widely since the pandemic shutdown of 2020. As companies bring workers back together, many have reduced the number of days their employees are required to be in the office, creating flexible combinations of office days and remote work days.
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Cosmetic company L’Oréal Group demands that employees work in the office at least three times a week, on days of their choosing. L’Oréal sweetens the office experience with such comforts as a fitness center, restaurant, juice cafe and a cabana-like bar that serves coffee drinks and, depending on the occasion, alcohol.
Disney Chief Executive Bob Iger recently announced that employees working from home must return to the office Monday through Thursday starting March 1. Fridays are typically the least populated days for offices, research shows, and while most employees toil at home that day, a few companies are taking them off the business calendar altogether and working 32 hours a week.
Landlords are also keen to make offices appealing so tenants will keep renting space in their buildings.
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The campus-like Water Garden was a dreary place after being devoid of occupants during the worst of the pandemic, Wyrick said. While they were gone, nearby businesses and restaurants nearby failed or left for other reasons.
“The area was a ghost town,” she said.
Wyrick’s first move was to arrange live performances by local musicians and dancers in the courtyard. Among the complex’s biggest tenants are retailer Amazon and technology firm Oracle.
One of Wyrick’s goals was to make the Water Garden a place people wanted to visit, including neighbors who could walk over to take in a mid-day concert or see pieces by local artists displayed and for sale in the lobbies of the four office buildings. Getting a buzz of life into the campus could help address a common chicken-and-egg complaint about going back to the office — people don’t want to go there if other people aren’t around.
Paying performers to appear, serving free food to tenants at holiday soirees and other planned events are part of a marketing strategy to get the property occupied, she said.
“We will lose money in the beginning,” she said, “but it drives people to put roots in the space.”
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The key measure of success is leasing, and Water Garden has added tenants over the past 12 months. Its 1.4 million square feet of rental space is 86% leased, up from 72% leased a year ago, Wyrick said.
One of her leaps to enliven the place was to agree to an unusually short lease with a well-known dance company for an expansive first-floor space last occupied by a furniture showroom. In exchange, Jacob Jonas The Company agreed to engage with other tenants through free classes, performances and other events.
The nonprofit dance company has performed at Lincoln Center, the Kennedy Center and the Hollywood Bowl, as well as with such musical artists as Rosalia, Sia, Elton John and Britney Spears.
For years, the company was based in the Wallace Annenberg Center for the Performing Arts in Beverly Hills. The chance to dance in a working office complex built to the buttoned-down tastes of 1990s business executives holds special appeal to company founder Jacob Jonas, a Santa Monica native who got his start as a street performer on the Venice boardwalk at age 13.
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“Our neighbors are some of the leading corporations in our country. There’s something really validating about that and sharing our work,” he said. “When you have people working behind a desk from 9 to 5 and then being able to expose them to creativity and expose them to art in such a unique setting, that crossover is rather beautiful.”
Workers and visitors at the Water Garden can take workshops in floral design, see weekly comedy shows and attend movie nights.
Nearly a fifth of the L.A. County’s office space was unleased at the end of last year, according to CBRE, and more empty space may hit the market soon as tenants hoping to save money try to sublease unwanted space due to concerns of a constricting economy and potential layoffs. Some are reducing their space because their employees are working remotely.
“The general consensus among most economists is we’re heading into a recession,” said Bradford Ortlund, a research manager at CBRE. Many companies are declining to expand their offices or reducing space as they wait for the economic picture to come into focus.
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The nature of upmarket offices was already shifting before the pandemic as many landlords toned down the dramatic formality of their entrances originally intended to confer status and trustworthiness on the companies inside. As aloofness fell out of favor, owners set out to make their lobbies and courtyards places to linger and enjoy rather than simply pass through in awe.
Their desire to get people working remotely back into offices makes hotel-like hospitality freshly valuable, said the owners of U.S. Bank Tower, the tallest office building in Los Angeles at 72 stories.
It was built to be an imposing corporate cathedral in 1989, but landlord Silverstein Properties is close to completing a $60-million makeover intended to make it feel more like a laid-back hotel where tenants and visitors are invited to kick back. The lobby will include a cocktail and juice bar, a coffee bar, a grab-and-go market of packaged foods, communal tables, a large lounge with plush seating and cabanas to add a resort flair.
Staff will focus on hospitality, said tenant experience manager Melanie Navas. People’s names and birthdays are to be remembered. The 54th floor is a tenants-only lounge with a coffee bar and weekly breakfast spreads to help inspire a sense of community. There are yoga classes at the gym on the 57th floor with views of the city.
“The goal is to get people to feel like they want to come back to work and come back to the building,” she and, “and having them leave happy.”
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Art is a top priority for Brookfield Properties, the largest owner of office space in downtown Los Angeles, which has a longstanding program of engagement with tenants. Permanent and rotating art displays are pleasant — and good for occupancy, said Bert Dezzutti, head of the western region for Brookfield.
“Younger workers are more likely to return to the office if they are around art,” he said, citing a survey Brookfield commissioned in the United Kingdom last year that also found that art and cultural activities improve people’s sense of wellbeing and makes them more productive at the office.
“One positive that has emerged from the tragedy of the COVID-19 pandemic is a new focus on what makes a ‘happy’ workplace,” the survey report said. Findings suggest that workers want to work in spaces enriched by art, culture and wellness, which they believe promote creativity and contentment.
“The offices of the future must be more than machines for working in,” the report said, “they must cater to the rich inner life that we all possess.”
One youth-friendly program Brookfield puts on in L.A. is an annual music festival that follows the Coachella Valley Music and Arts Festival. Acts from the popular desert concert series appear after work on four August nights at a Brookfield office and retail complex near Crypto.com Arena.
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Musicians from the Colburn School perform acoustic sets at another Brookfield property. There are DJ concerts open to all and wellness events for tenants that include skin care classes and meditative sound baths.
“We’re creating opportunities for people to interact,” Dezzutti said. “It’s all about engagement.”
In the scenic seaside neighborhood of Corona del Mar in Newport Beach, a newly listed coastal home will make you rethink your house goals.
Dubbed ‘The Island House’, the dreamy property sits on three homesites that have been combined to create what is now one of the most expensive homes in the already-exclusive community.
Properties in the Orange County riviera are notoriously expensive, with the median listing price in the area averaging $4.8 million, according to Realtor.com.
Even so, the 7-bedroom Island House gives the rest of Corona del Mar’s pricy listings a run for their money – pun intended.
Priced at $29.5 million, the property is one of the most expensive homes for sale in the area. A Brighton Road home that’s set about 2 miles away currently claims the #1 spot with a $35 million price tag.
On a county level, the property ranks in the top 12 most expensive homes in Orange County, with a newly built Newport Coast mansion (known as Palais du Cristal) leading the rankings with its whopping $69.8 million ask.
But there are a few aspects that are completely unique to the Island House — from its past presidential ties to the three lots it sits on.
The previous owners bought the property back in 1999 with plans to rebuild it into their dream home. To do that, they also purchased two adjacent lots and combined them into one homesite that has no direct neighbors.
According to our sources, back in the day, Ronald Reagan and his family used to frequent the original residence that stood on the property.
But there’s not much left of the presidential favorite. The previous owners embarked on an extensive renovation (carried on by the current seller), which transformed it into a magnificent residence that combines traditional and contemporary design.
With sweeping ocean views from nearly every room — directly overlooking Newport Harbor, the Balboa Peninsula, Catalina Island, Palos Verdes and popular surf spot, The Wedge — the exclusive home offers seven bedrooms and ten bathrooms, spread across 7,168 square feet of living space.
Designed for entertaining, working and relaxing at home, The Island House features a long list of private amenities.
An elegant office with glass and steel-framed walls opens to a patio and three-hole putting green. The lower entertainer’s level boasts a 650-bottle wine room with a tasting area and a 15-seat home theater with a 120” screen and surround sound.
On its own level at the third floor is an additional game room with a full bath, 32-bottle wine fridge, Fleetwood doors, patio and sunbathing area.
While it’s hard to pin down all the noteworthy features of the $29.5 million home, some of its standout features include Fleetwood windows and doors, an open-plan great room, expansive pool and spa, BBQ kitchen/bar, and outdoor entertaining area that can fit roughly 100 guests.
Outside, the three- to six-foot deep pool, heated spa and multi-colored ambient lighting, and pool terrace with ample space provide the perfect spot for shaded or sun-drenched lounging.
Dancing water features add a picture-worthy setting with the ocean as a backdrop.
The Island House is listed with Mauricio Umansky, Phillip Caruso, Michael Caruso, Roxy Gonzalez of The Agency.
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Options sweeps are large options trades executed by well-capitalized, typically institutional investors, quickly and across the best available order prices. When an option sweep is placed, the executing broker will hit all available counterparties, by order of best outstanding prices, until the investor-specified order size is filled.
The typical retail investor typically will not execute options sweep trades, given the massive amount of funding and leverage they entail. Instead, options sweep trades can serve as an indicator of underlying interest around a certain security. As they typically reflect institutional investor actions, option sweep trades are indicators of what the “smart money” is doing.
What an options sweep implies is up to interpretation and depends on the order size, type of option, and average price at which the options sweep was executed. We cover how options sweeps work and how retail investors should interpret them.
How Do Options Sweeps Work?
When options sweeps are executed, the trade will be visible to market participants. The details around the trade, namely its size, the type of option traded, and the approximate price of the trade, are viewable by traders with the capability to scan for them. However, the specific entity entering the trade and the order type (whether it’s a buy or sell) will not be disclosed.
Option sweeps aren’t really considered one of the strategies for trading options. But given the massive amount of capital needed to properly transact an options sweep, and the fact that these are typically entered as block trades, entities that use option sweeps are likely to be well-capitalized institutional investors.
Consequently, options sweeps are viewed as indicators of aggressive bets made by “smart money,” and can stir up investor interest due to the perceived informational advantage that professional money managers have over retail investors learning to trade options.
Under the right circumstances, they can provide useful insight into implied short-term price swings that large institutional investors might be hedging against. This makes it a popular tool for short-term traders.
How to Interpret Options Sweeps
Options sweeps serve as indicators of unusual options activity surrounding the underlying investment.
Options trades may imply aggressive actions by institutional investors, and traders who detect options sweeps may use them to inform their actions.
How an options sweep should be interpreted depends on the type of option being traded, its expiration date (American- and European-style options are different), and the price near where the options sweep was executed.
Regardless of what an options sweep may suggest, investors should bear in mind that institutional investors are fallible like retail investors. In other words, sometimes the “smart money” isn’t so smart. Despite the informational asymmetry, option sweeps should be interpreted with a grain of salt. Make sure to conduct your own due diligence before trading, looking at bearish or bullish stock indicators and so on.
Option Type
When a trader buys to open a call option, this generally implies a bullish bet on the price of a security, as call options offer upside potential beyond the stated strike price.
Conversely, when a trader buys to open a put option, this implies a bearish bet on the direction of the underlying security, as put options offer downside protection beyond the stated strike price.
Price
While it’s evident that a trade was made when an options sweep occurs, the trade won’t explicitly disclose whether the options were bought or sold by the institutional investor.
To gauge whether or not an options sweep was a buy or sell order, and to better understand options pricing, traders can contextualize based on whether the average execution price was traded “near the bid,” or “near the ask.”
Trades made near the bid are typically sell orders, while near the ask trades are typically buy orders. This follows the traditional trading logic of “sell at the bid” and “buy at the ask.”
Combination Trades
Not all option trades are simply buy calls or buy puts. Combination trade strategies using multiple options are very common. It might be very difficult to interpret the strategy of the option sweep investor, and even more difficult to determine if your own investing strategy aligns.
Finally, user-friendly options trading is here.*
Trade options with SoFi Invest on an easy-to-use, intuitively designed online platform.
How to Detect Options Sweeps
Options sweeps are difficult to detect without the aid of dedicated trade scanners that monitor options flow activity.
Many third-parties and brokerage accounts that offer advanced trading capabilities may include this as part of a subscription fee, or as a part of their trading suite.
If you don’t have access to these paid programs, there are still ways to detect unusual options activity on stocks you follow.
First, options are useful hedging tools for institutional investors and are therefore typically used during times of heightened market volatility.
You can watch for open options interest on calls and puts, expiring close to earnings reports or dividend announcements. Beyond company-specific announcements, traders can often gauge options interest close to market-moving events, economic reports, or even Federal Reserve statements.
While this won’t necessarily inform the direction of an upcoming trade, it will certainly shed some light on where volatility is likely to occur as the expiration date on the options approach.
Who Uses Options Sweeps
Options sweeps are used almost exclusively by large well-capitalized institutional traders.
Due to the large amount of capital needed to execute an options sweep, and the massive risk profile that this entails, it’s unlikely that anyone without a substantially large bankroll would be able to conduct an options sweep trade.
Virtually all retail investors would be excluded from the list of candidates capable of executing options sweeps.
The Takeaway
While options sweeps are not usually executable by everyday investors, their existence still serves as a useful indicator of institutional activity.
Unusual options activity has historically been a popular short-term metric for gauging the direction of stocks. While there’s no guarantee as to the accuracy of the implied price moves, they’re nonetheless another useful tool in the arsenal for short-term options traders.
If you’re ready to try your hand at options trading, You can set up an Active Invest account and trade options online from the SoFi mobile app or through the web platform.
And if you have any questions, SoFi offers educational resources about options to learn more. SoFi doesn’t charge commissions, and members have access to complimentary financial advice from a professional.
With SoFi, user-friendly options trading is finally here.
FAQ
Are call sweeps considered bullish?
Call option sweeps are large purchases or sales of call options that can be considered either bullish or bearish, depending on the price where the trade completes.
All options trades have both a bid and an ask price; the bid price indicates the price you’d receive for selling to open the option while the ask price indicates the price you’d pay to buy to open the option.
If a call sweep is shown executing near the bid price, that means that an institutional trader likely sold a large number of call options at the bid price, which may imply a bearish signal.
Conversely, if a call sweep is shown executing near the ask price, that indicates that an institutional trader likely purchased a large number of call options at the ask price, which could imply a bullish signal.
How can you find options sweeps?
Finding options sweeps isn’t as simple as searching for trade ideas. Detecting option sweeps requires scanning software that can sleuth through public trade data for unusual options activity.
There are a number of options activity scanners available on the web and through third-party information services; in most cases, these require paid subscriptions.
Many popular online brokerage accounts also sometimes offer their own activity scanners as part of their suite of advanced trading platforms.
What does it mean for a sweep to be near the ask?
If a sweep is near the ask, this means a large sweep order was made to trade securities near the ask price.
This may be interpreted as a “bullish” signal that the stock price may rise in the short term.
Photo credit: iStock/Drazen Zigic
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Swiping your magnetic-stripe credit card will soon become a thing of the past.
In the wake of widespread consumer data breaches like those at Target and Home Depot – plus increasing rates of counterfeit fraud – credit card companies nationwide are issuing new smart chip-enabled cards to improve payment security and provide consumers with greater protection against fraud.
Have you received your new chip-equipped credit cards in the mail yet? If not, you will soon: October 2015 is the “liability shift” deadline between banks and merchants. If a business doesn’t offer chip-enabled transactions after October, the liability for any resulting credit card fraud will fall to the business-owner and no longer the bank.
Here’s the scoop on what you need to know about chip-enabled cards, or as they are more formally known, EMV cards:
What’s EMV?
EMV cards – named after its original developers Europay, MasterCard, and Visa – are nearly identical to the typical American credit card, but they are encrypted with a small computer chip rather than a magnetic stripe. You will notice a small gold or silver metallic square on the front of your card. While this square contains the same information as magnetic stripe cards, such as name, card number, and expiration date, each transaction generates unique, dynamic data. This is the game changing technology that makes it difficult for anyone but the rightful owner to use the card, and it protects against the creation of counterfeit cards.
EMV cards have been the standard around the world for decades, but America is finally catching up: half of the world’s credit card fraud occurs in the US!
How Do EMV Cards Work?
Instead of swiping your card, you’ll insert your card into a terminal slot. This action is called “dipping”! The data then flows between the card chip and the issuing financial institution to verify the card’s legitimacy. Because these cards are read in this new, different way, you should know that the transaction is not as quick as a basic swipe; expect a slightly longer time at the point of sale. Though most of the world operates on a “chip and pin” system, Americans will still sign credit card receipts for the time being.
Keep in mind, your card will still have an magnetic stripe, too. Not all businesses will support “dipping” by October. In fact, a recent Intuit survey found that 42% of small businesses haven’t heard about the deadline yet!
Can I Still be a Victim of Fraud?
Though this new technology should give you greater peace of mind, smart-chips do not entirely eliminate credit card fraud. You will still need to monitor your credit card accounts and credit score diligently – at least once a month. That’s the best way to detect fraud in the early stages and keep your identify safe.
– Vera Gibbons,Mint Contributor and Personal Finance expert
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This is another guest post from JoeTaxpayer. On my blog, I’ve shared several articles that discussed the Roth IRA conversion event of 2010 in great length and detail. While this is can be a great opportunity for many, there are several instances that a conversion does not. I looked to JoeTaxpayer to share some pros and cons of the Roth IRA conversion and for unforeseen consequences that could result.
There’s been much hype regarding the ability for anyone to convert their retire money to Roth regardless of their income. Many professional planners and writers of financial blogs have offered compelling reasons why one should convert. Today, I’d like to share some scenarios where you might regret that decision.
You don’t have a crystal ball
All signs point to higher marginal rates, this is one factor that prompts the advice to convert, but who exactly would that impact, and by how much? Let’s look at the first risk of regret. You are single, and an above average wage earner, just barely in the 28% bracket. (This simply means your taxable income is above $82,400 but less than $171,850, quite a range). Any conversion you make now is taxed at 28%, by definition. You get married, and start a family quickly, your spouse staying home. That same income can easily drop you into the 15% bracket as you now have three exemptions, and instead of a standard deduction, you have a mortgage, property tax and state tax which all put you into Schedule A territory and a taxable income of less than $68,000. Now is when you should use the conversion or Roth deposits to take advantage of that 15% bracket, before your spouse returns to work and you find yourself in the 25 or 28% bracket again. It’s then that you should convert enough (or use Roth in lieu of traditional IRA) to ‘top off’ your current bracket.
Life isn’t linear
It’s human nature to expect the next years to be very similar to the past few. Yet, life doesn’t work quite that way. The person who makes more money year on year, from their first job right through retirement is the exception. For more people, there are layoffs, company closings, major changes in family status, disability, and even death. Except for permanent disability or death, the other situations can be considered opportunities to take advantage of a full or partial Roth conversion. If one should become disabled, the ability to withdraw that pretax money at the lowest rates is certainly preferable to having paid tax on it all at your marginal rate.
Transferring your 401(k)
The Roth conversion is available for holders of 401(k) (and other) retirement accounts as well as holders of traditional IRA accounts. Back in October 07, I cautioned my readers on a somewhat obscure topic they need to be aware of when considering a transfer from the 401(k) to their IRA and the same caution exists for conversion to a Roth. Net Unrealized Appreciation refers to the gains on company stock held within your 401(k). The rules surrounding this allow you to take the stock from the 401(k) and transfer it to a regular brokerage account. Taxes are due only on the cost of that stock, not the current market value. The difference up to the market value at time of sale (thus the term Net Unrealized Appreciation) is treated as a long term capital gain. Current tax law offers a top LT Cap Gain rate of 15%. A loss of 10% or more if you are in the 25% bracket or higher and convert that company stock to a Roth.
Taking Money At Retirement
Given the low saving rate of the past decades, all projections point to fewer than the top 10% of retirees coming close to ‘retiring in a higher bracket.’ Consider how much taxable income it would take to be at the top of the 15% bracket in 2010. For a couple, the taxable income needs to exceed $68,000. Add to this two exemptions, $3,650 ea, and an $11,400 standard deduction. This totals $86,700. Using a 4% withdrawal rate, it would take $2,167,500 in pretax money to generate this annual withdrawal. What a shame it would be to pay tax at 25% to convert only to find yourself with a mix of pre and post-tax money that puts you toward the bottom of that bracket. Whose marginal rates do you believe will rise? Couples making less than $70,000? I doubt it. What’s the risk? That you should be in the 25% bracket at retirement? That’s still break even in the worst scenario.
What About Your Beneficiaries
While a tax-free inheritance might be great for the kids, a properly inherited, properly titled Beneficiary IRA can provide them a lifetime of income. Consider, if you leave a portion of your traditional IRA to your grandchild, a 13 year old, his first year RMD (required minimum distribution) will only be about 1.43% of the account balance. For a $100,000 account left to him, this RMD falls shy of the current $1900/yr limit before he is subject to the kiddie tax. To insure that he doesn’t withdraw the full remaining amount at 18 or 21, consult a trust attorney to set up the right account for this purpose. If left to your own adult children, the advantage can go either way depending on their income and savings level.
Are You a Philanthropist?
If you don’t have individual heirs you wish to leave your assets to, the ultimate poke at Uncle Sam is to leave your money to charity. No taxes at all are due. Leaving Roth money to charity just means that our government already got its piece of the pie.
Avoiding Roth IRA Conversion Regrets
Today, I’ve shared with you some scenarios that are cause for regretting a conversion. As I always caution my readers, your situation may differ from anything I addressed here, and your unique needs are all that matters. If you have any questions on when or if a conversion makes sense for you, post a comment and we’ll be happy to discuss.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Please see a tax professional before implementing any sort of IRA conversion. Joe TaxPayer is not affiliate or endorse by LPL Financial.
More than 30% of the food supply in the United States ends up as waste, according to the U.S. Department of Agriculture. The value of that wasted food was around $161 billion in 2010 and has surely risen since then.
Did your grocery budget just curl up and scream? Mine did. It pains me to think of the loss of all that food, not to mention the resources needed to produce it: tractor fuel, fertilizer, pesticide, packaging, gasoline for transport.
Time to think outside the box — or, rather, outside the garbage can — and get creative about food so we waste less of it.
At least some of the following ideas should work for almost everyone. You’ll offset your carbon footprint and stretch food dollars to boot.
1. Boil down leavings
My partner and I keep a bag in the freezer for vegetable and fruit scraps — such as carrot and radish tops, pea pods, onion skins, apple cores, sweet-potato peelings — plus chicken and pork chop bones.
Next to it is a container that holds the liquid used to boil potatoes or other vegetables.
When the bag is full, we throw its contents plus the veggie cooking water and some salt into the slow cooker and leave it on low overnight. The next morning we strain the liquid and use it as a soup base.
The stock tastes different every time because what went into it varies so widely. But it always makes a great pot of soup.
2. Cook up some garbage soup
Do tonight’s leftovers consist of just a spoonful or two of mashed potatoes, a quarter-cup of gravy and a few shreds of chicken or roast beef?
Don’t send it down the garbage disposal! Instead, store it in a bag or container in the freezer. Once the bag is full, you have the makings of a fast dinner.
Put some stock — from your own boiling bag or from a can or carton — into a big pan with seasonings plus a can of tomatoes, if you like. Simmer for at least 20 minutes, then add the contents of the freezer bag.
Stir now and then as it thaws and adjust the seasoning if necessary. You can add more vegetables if you like, or rice or pasta, or maybe nothing at all — maybe your potage de garbage will taste perfect the first time.
3. Get free tops at the farmers market
Look at all those lovely fresh turnips and beets for sale at your local farmers market. If you don’t see the tops elsewhere on the table, politely ask the farmer what happened to them. Could be they were lopped off five minutes ago.
If so, you can walk away with a nice batch of healthy, delicious greens for free. Try sauteing them in olive oil with garlic or adding them to a stir-fry. If they’re really young and tender, make them part of a salad. Freeze or dehydrate what you can’t use right away for soups or quiche later on.
Return to the market 15 minutes before closing and check to see if the vendors are packing up most of their wares but setting aside nearly overripe tomatoes, misshapen root vegetables or slightly wilted spinach. Ask politely if you can have them.
The tomatoes will make fine salsa or spaghetti sauce, the oddball veggies just need a little persistence in peeling and cutting, and the greens can go into soup (or the boiling bag).
Some of the vendors would rather give this stuff away than dispose of it. Even if they ask for some money, it could be less than you’d pay in the supermarket.
4. When dairy goes bad
Milk a few days past its sell-by date isn’t automatically bad. And even if it is, don’t throw it out! Sour milk makes great pancakes and waffles and can also be used in cake, cookie or quick bread recipes that call for milk. Or do a search for “sour milk recipes,” and you’ll get an eyeful.
I make my own yogurt, saving a cup of each batch as starter for the next one. Every few months, those active cultures will be colonized by wild yeasts, and the yogurt starts to smell a little beer-y. Time for a new starter. Meanwhile, I use the weird yogurt in two ways:
Smoothies. All the fruit that I add drowns out the weird yogurt flavor.
Baked goods. I freeze any weird yogurt until I want to bake my mom’s famous Sour Cream Chocolate Cake. (Well, it was famous in our family, anyway.) Remember, back in the day, “sour cream” was cream that had gone bad rather than the cultured sour cream variety we buy now. The effect is the same though.
5. Grab leftovers after the potluck
If your workplace pitch-ins are anything like the ones I used to attend, there’s always uneaten food at the end. Often the folks who brought it don’t want to take it home.
Leverage those leftovers! First, offer to help clean up. Then, state matter-of-factly that it bugs you to see food being thrown out so you plan to take some of it home.
Remember to share. If you take what’s left of the turkey, leave the ham bone. Don’t hog all the freshly cut pineapple or the best cakes and pies.
When you get home, cut any remaining meat off the turkey for a second-day dinner. Chop up odd bits for turkey salad, turkey tetrazzini, turkey a la king or any other dish that stretches small amounts of meat. Finally, boil the bones for soup stock.
Ditto with a ham bone: Dice up any remaining meat for a Western omelet or make a cream gravy and some biscuits for a hammy version of “‘stuff’ on a shingle.” The bone makes a great pot of bean soup.
Freeze leftover rolls and cookies. Load up on fruits and veggies if no one else wants them.
6. Liquid assets
Our fridge and freezer are full of odds and ends of liquids that still have some work to do. For example, once we finish a jar of pickles, we save the brine until we have a nearly empty bottle of mustard. Shaken together, the two become a tangy condiment that’s delicious on cooked lentils or in any soup that needs a bit of zing.
The liquid from pickled jalapenos is a great marinade for sliced carrots or fresh green beans. An “empty” salsa jar or ketchup bottle gets shaken with a bit of water, then poured into the veggie cooking water mentioned in the “Boil down leavings” tip.
No doubt you can find your own ways to avoid throwing out these frugal liquid assets.
7. Look for ‘manager’s specials’
Supermarkets regularly discount meats, breads, fruits, dairy and deli items with short shelf lives. If they aren’t sold quickly, they’ll turn into garbage. But not if you get there first! You can save 50% or more by buying from the “manager’s special” sections or other clearance-food areas of your store.
Obviously, these items should be used promptly or put into the freezer. Half-price ground beef is not a bargain if it makes you sick because you neglected to cook it quickly enough.
Nearly overripe fruit is good for smoothies and quick breads; just freeze it for later use. Cook up ground beef or turkey and freeze it for quick meals later on. Milk approaching its use-by date can be frozen or used right away to make frugal puddings or homemade yogurt.
8. Make friends with the butcher
If your grocery store or meat market sells boneless chicken breasts, where did the bones and skin go? Ask if you can have them, then turn them into soup stock.
A blogger named Penny collects these chicken bits in order to render her own chicken fat for cooking. If the butcher isn’t sure that’s OK, Penny suggests asking the store manager. “Doing that afforded me an easy, ‘Sure, no problem,’” she writes.
Don’t want to do it? Try this instead: When you cook chicken or turkey, don’t skim off the fat and throw it into the garbage can. Freeze it and use it later to saute vegetables.
9. Check the Freecycle Network/Buy Nothing Facebook groups
But aren’t those groups for things like bikes and couches? Sure, but I’ve seen food products on there as well, including canned goods, frozen dinners, garden surplus, and tree fruit. If no one takes it, what do you want to bet it gets thrown into the garbage?
And as I noted in “Need Something? Buy Nothing,” we’ve gotten lots of food from our local Buy Nothing Facebook group. Some of it was unopened, but not all; for example, we scored a nearly full 50-pound bag of Costco bread flour.
Other things we’ve gotten include baking powder, dough enhancer, powdered milk, salt, dried beans, yeast, canned soup, lentils, pasta, split peas, Spam, canned vegetables, fruits, fish and an institutional-sized box of parchment paper for baking.
10. Glean from gardens and nature
Gardeners and homeowners who find themselves with too much of a good thing usually love to give some of it away. Help them out! A handful of websites maintain databases of free produce. Read more about this in “Stop Paying for Your Food!”
Keep your eyes peeled, too. Frugality blogger and writer Erin Huffstetler regularly harvests weeds that are edible and healthy, including dandelions, red clover, purslane and cattails. She and her family also collect wild-growing pecans, chestnuts, blackberries, mulberries and black walnuts.
11. Try some dumpster diving
You just knew I’d bring that up, didn’t you? “Freeganism” is potentially illegal, depending on where you live and maybe even dangerous. Do it right, however, and you may wind up with food that’s perfectly safe to consume.
When I managed an apartment building in Seattle, I noticed that a departing tenant had placed a box of canned goods in the recycle bin. I pulled the box out because unopened cans can’t be recycled — and, yes, I kept them, because they were undented and nowhere close to their sell-by dates.
So while I can’t in good conscience recommend that everyone run to the nearest dumpster with a shopping bag, I suggest being alert to your surroundings.
One of the most exquisite private homes in the entire San Diego area is now up for grabs.
Those of you who have a passion for architecture will have probably heard the name Richard Requa before. His firm, Requa and Jackson, was arguably the busiest architecture company in the 1920s in San Diego.
Whenever you see a charming, classic Spanish Revival property as you’re driving or walking around the city, chances are it was designed by Requa.
The architect was heavily influenced and inspired by the Andalusia area of Spain, and his works tend to reflect this. Requa even developed a signature style, known today as ‘Southern California Architecture.
The Old Globe Theater in Balboa Park, the D. E. Mann House at 1045 Loma Avenue in Coronado, the Del Mar Castle – these are some of Requa’s most well-known works, and they all showcase his unique, laid-back, Spanish-inspired Californian style.
Another one of Richard Requa’s iconic projects is the William A. Gunn House, located at 1127 F Avenue in Coronado.
It was designed by Requa and Jackson, with Milton P. Sessions serving as landscape architect, and completed in 1925 for Michigan furniture maker W.A. Gunn.
It’s one of the most beautiful examples of Requa’s Southern California Architecture, and it’s now looking for a new owner whose pockets run $39 million deep.
How Coronado Castle’s current owner Brian Mariotti took Requa’s design into the 21st Century
The jaw dropping mansion at 1127 F Avenue is also known as the Coronado Castle, and for good reason.
The property is reportedly roughly four times the size of an average Coronado lot, totaling 26,000 square feet and offering a lot of privacy and outdoor space.
Coronado Castle is an architectural gem protected by the Mills Act — a status that serves to significantly lower property taxes for the property. While lower property taxes are definitely nice to have, this property offers a lot – and we mean A LOT – more than that.
The current owner of the Requa-designed Coronado mansion is Brian Mariotti, the CEO of Funko, the toy company best known for its licensed vinyl figurines and bobbleheads.
Marriotti bought the 6,000-square foot property in 2017 for $12.2 million, and then purchased the lot right next to it, thus significantly expanding the site at 1127 F Ave.
The owner also invested heavily in upgrades at the Gunn house, but was careful to also preserve the building’s historical heritage.
The result is a stunning mix of 1920s Spanish Revival architecture and modern, laid-back California touches. Everything that was added to the home had to blend in with Requa’s original vision.
Paul Schatz, the owner of Interior Design Imports, who worked on the house with the Mariottis, told the Wall Street Journal that ‘the goal was to make everything new look as old as possible.’
Mixing business with pleasure – from home office to Star Wars-themed home theater, this property has it all
There are many highlights to this incredible property, but this is definitely our favorite: a 26-seat home theater featuring life-size Star Wars memorabilia, such as statues, weapons, and helmets.
Just imagine hosting a Star Wars movie marathon with family and friends, watching the original trilogy on a 20-foot screen powered by state-of-the-art 4k Max laser projector. Not too shabby, right?
The 7,000-square-foot Star Wars-themed basement also features an indoor golf room with a simulator, a tennis area, and it houses Mariotti’s impressive collection of toy figurines.
But the most impressive feat is the basement itself, which was not part of Requa’s original design.
The 15-foot-deep basement took six months to complete and required a 4-foot concrete foundation; the entire thing had to basically be ‘shoved underneath the existing house,’ as Jim Papenhausen of Papenhausen Construction told the WSJ.
In the end, Mariotti and his team were able to complete the project without damaging the historic structure in any way.
While a Star Wars-themed home theater and a massive toy collection exhibit area might not sound like the most practical amenities, the house does not disappoint when it comes to functionality, either.
The Mariottis understood the requirements of modern life, and turned the house next door into a four-car garage, and used the extra land to build a new family room wing and expand the outdoor area.
New owners will be able to enjoy a six-hole putting green, an outdoor living room area, a swimming pool, an outdoor kitchen, all bounded by century-old trees.
The house also incorporates four bedrooms, six full bathrooms, three-and-a-half bathrooms, a 14,142-square-foot guest house, a 1,300-square-foot home gym, and a spa with a massage table and a sauna.
For digital nomads, there is also a home office situated on the third floor at the top of the mansion’s castle-like tower. This area offers stunning views of San Diego and also includes an outdoor patio with a bar and a fireplace.
If you’re still not convinced that this is a one-of-a-kind property, a Spanish-influenced castle in the heart of California, then feel free to take a virtual home tour below, and find more details about this architecturally distinct house here.
Chris Clements, Jan Clements, and Lennie Clements of Compass are handling the listing.
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