selling

Apache is functioning normally

A new report from Black Knight Financial Services revealed that monthly mortgage origination volume fell to its lowest point on record in February.

And recent prepay speeds signal even more declines in refinance volume in the near future.

The company said mortgage originations hit at least a 14-year low during the second month of the year, thanks in part to an elevated share of all-cash transactions.

The government share of originations has also taken a hit, with HARP refinancing continuing to slow as the pool of eligible borrowers shrinks.

Homes Are Still Selling, Even If Mortgages Aren’t Being Originated

Despite the mortgage slowdown, traditional home sales (non-distressed) were up nearly 15% from a year earlier.

At the same time, distressed transactions continue to dwindle as short sales and foreclosures become less and less common.

Overall, residential real estate sales remained close to flat year-over-year, again because of the all-cash buyers, many of which were assumed to be investors.

Black Knight’s Data and Analytics division SVP Herb Blecher noted in a press release that cash sales accounted for nearly half of all transactions.

Mortgage Delinquencies Fall Below 6%

The good news is that mortgage delinquencies fell below six percent (5.97%) for the first time since 2008, and foreclosures were down 34% from a year ago to their lowest level since 2007.

Unfortunately, this means the foreclosure pipeline is steadily growing, with the average loan in foreclosure now 2.6 years past due, compared to 0.7 years in 2008.

The new CFPB rules don’t allow foreclosure proceedings to begin until after 120 days of delinquency, and data has revealed that foreclosure starts at the 90-day mark have pretty much come to a halt.

Florida, New Jersey, and New York have the highest level of seriously delinquent loans (90+ days late or in foreclosure), but foreclosure backlogs have grown the most in non-judicial states like California and Nevada thanks to newly imposed legislation.

Loan modification volume has also taken a hit, with activity ending the year around post-crisis lows. The only bright spot is the FHA-HAMP program, which has gotten a boost thanks to some recent program changes.

Those include eliminating the maximum back-end DTI ratio requirement of 55%, and allowing FHA borrowers to be more than 12 full payments past due.

Speaking of modifications, borrower equity continues to dictate re-default rates, with borrowers falling behind a second time 30% more when underwater.

Loose Mortgage Lending Hasn’t Arrived Yet

Black Knight also noted that only about 30% of mortgages last year went to borrowers with credit scores below 720, so it’s still very much about the most creditworthy individuals.

And though some lenders have announced pretty aggressive offerings of late, such as Carrington’s 550 minimum FICO score for an FHA loan, that type of subprime lending is still few and far between.

In fact, originations in the sub-620 bracket still account for less than five percent of residential mortgage lending volume, despite ticking up in recent years.

Many expect volume in this higher-risk band to increase as banks continue to grapple with flagging volume.

And the trend is already apparent in the FHA realm, where lending to borrowers with scores between 620-719 increased year-over-year after steadily declining.

However, the sub-620 category is still pretty flat and that doesn’t appear to be changing anytime soon.

Source: thetruthaboutmortgage.com

Apache is functioning normally

Wisconsin’s landscape is dotted with small towns that are more than just places to call home; they’re communities with stories, character, and a unique way of life. In this article, we’ll take a journey through 13 small towns in Wisconsin, uncovering the local treasures, attractions, and the fun things to do that sets each town apart. From historic downtowns to natural beauty, these towns offer a lifestyle that captures the essence of the Badger State.

1. Plover, WI

Median sale price: $345,000

Walk Score: 60

Plover is a town where nature and community thrive in harmony. The town’s local parks, like Iverson Park and Schmeeckle Reserve, provide spaces for outdoor activities and relaxation. Plover regularly hosts local events, farmers’ markets, and gatherings that bring residents together. With the Wisconsin River nearby, Plover offers opportunities for boating, fishing, and enjoying the environment that surrounds the town.

Homes for sale in Plover, WI

Apartments for rent in Plover, WI

2. Marshfield, WI

Median sale price: $220,00

Walk Score: 88

Marshfield is a hub of health and heritage, where the town’s local attractions celebrate its unique identity. The town is home to the Marshfield Clinic Health System, a leading medical center. Marshfield’s historic downtown, cultural events, and the Central Wisconsin State Fair showcase its distinct spirit.

Homes for sale in Marshfield, WI

Apartments for rent in Marshfield, WI

3. Wausau, WI

Median sale price: $205,000 

Walk Score: 85

With its proximity to Rib Mountain State Park and the Wisconsin River, Wausau provides one-of-a-kind experiences for outdoor lovers. The town’s public events, including the Wausau Festival of Arts, celebrate its artistic and cultural scene. Wausau’s blend of outdoor beauty and vibrant arts create an environment where residents can explore nature’s wonders and indulge in creative pursuits.

Homes for sale in Wausau, WI

Apartments for rent in Wausau, WI

4. Waunakee, WI

Median sale price: $550,000

Walk Score: 82

Waunakee exudes a distinct elegance that’s reflected in its well-manicured streets and local attractions. The town’s specialty shops, eateries, and golf courses add a touch of luxury to its character. Waunakee’s popular events, like the WaunaFest, showcase its strong sense of unity and celebration. With its beautiful surroundings and sophisticated charm, Waunakee offers residents a lifestyle that blends refined living with a warm community spirit.

Homes for sale in Waunakee, WI

Apartments for rent in Waunakee, WI

5. Verona, WI

Median sale price: $480,000

Walk Score: 78

Embracing both the scenic environment and innovation, Verona is a place where people enjoy the best of both worlds. The town’s proximity to Epic Systems Corporation, a leading healthcare software company, adds a layer of modernity to its personality. With its beautiful parks, rolling hills, and a blend of progress and tradition, Verona offers a lifestyle that’s as exciting as it is dynamic.

Homes for sale in Verona, WI

Apartments for rent in Verona, WI

6. Baraboo, WI

Median sale price: $265,000

Walk Score: 88

Baraboo celebrates history and natural beauty in every corner, where the town’s historic downtown and the Circus World Museum capture its unique heritage. Events like the Big Top Parade bring residents and visitors together in festive celebration. Baraboo’s proximity to Devil’s Lake State Park and the Baraboo River offers opportunities for outdoor recreation and exploration.

Homes for sale in Baraboo, WI

Apartments for rent in Baraboo, WI

7. Hudson, WI

Median sale price: $457,000

Walk Score: 76

This small town in Wisconsin is described as a cozy hideaway with a cool twist. Hudson sits right by the St. Croix River, providing locals the freedom to go boating, fishing, and enjoy stunning views. You can wander through downtown to visit quirky shops and cafes, or dive into the memorable arts scene. When you’re feeling outdoorsy, hit up the parks, join in the fun at their festivals, and just soak in the laid-back, friendly feel of Hudson.

Homes for sale in Hudson, WI

Apartments for rent in Hudson, WI

8. Chippewa Falls, WI

Median sale price: $245,000 

Walk Score: 85

Chippewa Falls is a town of craftsmanship and nature, where local breweries, artisan shops, and the Leinenkugel’s Brewery celebrate its rich brewing heritage. The town’s proximity to Lake Wissota and the Chippewa River offers opportunities for water-based activities and outdoor adventures. Additionally, Chippewa Falls’ community events, like the Pure Water Days Festival, showcase its spirited atmosphere. 

Homes for sale in Chippewa Falls, WI

Apartments for rent in Chippewa Falls, WI

9. Holmen, WI

Median sale price: $410,000

Walk Score: 61

This town might not be on everyone’s radar, but it’s a hidden gem with a relaxed atmosphere.. Holmen is all about that small-town friendliness – you’ll feel like you’re among friends from the moment you arrive. 

Holmen’s closeness to the Mississippi River and the Upper Mississippi River National Wildlife and Fish Refuge adds an element of serenity to daily life. If you’re into the great outdoors, Holmen’s got your back with nearby hiking trails and parks that make you want to grab your sneakers and go explore. 

Homes for sale in Holmen, WI

Apartments for rent in Holmen, WI

10. Sparta, WI

Median sale price: $223,00

Walk Score: 74

With the nickname,  the “Bicycling Capital of America,” it’s not a surprise that Sparta has a deep-rooted cycling culture. The Elroy-Sparta State Trail and the La Crosse River State Trail offer opportunities for scenic biking adventures. Sparta’s public events, like Butterfest, provide locals the ability to make strong connections with their neighbors. With its commitment to healthy living and a close relationship with nature, Sparta offers a lifestyle that’s active, engaging, and invigorating.

Homes for sale in Sparta, WI

Apartments for rent in Sparta, WI

11. Tomahawk, WI

Median sale price: $183,000 

Walk Score: 68

Tomahawk is a town of lakeside charm, where the town’s proximity to Lake Mohawksin and the Wisconsin River provides the public the chance to try their hand at sports like water skiing, kayaking, and fishing. The town’s popular events, like the Harley-Davidson Tomahawk Fall Ride, celebrate its unique identity. Tomahawk’s scenic surroundings and friendly atmosphere create a haven where residents enjoy the simple pleasures of lakeside living.

Homes for sale in Tomahawk, WI

Apartments for rent in Tomahawk, WI

12. Spooner, WI

Median sale price: $255,000

Walk Score: 60

Offering people a retreat amidst the beauty of the Northwoods, Spooner is perfect for those seeking a slower pace of life. The town’s local parks, like Railroad Park, provide spaces for outdoor activities and reflection. There’s always something to do in Spooner, like visiting its many farmers’ markets, and cozy cafes. With its access to Spooner Lake and the nearby Namekagon River, it’s no wonder why this town is so loved by its residents. 

Homes for sale in Spooner, WI

Apartments for rent in Spooner, WI

13. De Pere, WI

Median sale price: $360,000 

Walk Score: 84

De Pere is a town that bridges the past and the present, with its historic downtown and modern amenities. The town offers an array of engaging activities, including walks along the Fox River, visits to local cafes, and the chance to indulge in live musical performances at the esteemed Cup O Joy. Moreover, De Pere’s extensive network of nature trails and well-maintained parks provides an inviting setting for picnics and leisurely afternoons.

Homes for sale in De Pere, WI

Apartments for rent in De Pere, WI

Wrapping up small towns in Wisconsin

Wisconsin’s small towns are a treasure trove of character and charm. From scenic riverfronts to historic downtowns, each town offers a unique glimpse into the heart and soul of the Badger State. Whether it’s the tranquility of nature, or the blend of history and innovation, these towns paint a vivid picture of life in Wisconsin, where every corner holds a story waiting to be discovered.

Source: redfin.com

Apache is functioning normally

Bonds Came Here to Chew Gum and Sell Off, And They’re All Out of Gum

By:
Matthew Graham

Thu, Aug 17 2023, 3:37 PM

Bonds Came Here to Chew Gum and Sell Off, And They’re All Out of Gum

There comes a time in protracted bond market selling sprees where the momentum takes on a glacial quality.  Intraday volatility may pay some heed to discrete big-ticket events, but the rest of the day is spent moving steadily toward higher yields in a mindless and disconnected way.  The past week and a half is a perfect example and today was no exception.  Yields were actually at their lows of the day an hour after the AM data, so we can’t really blame it for the sell off that took 10s to the brink of their highest levels since 2007 (or mortgage rates to their highest levels in more than 20 years).

    • Jobless Claims
      • 239k vs 240k f’cast, 248k prev
    • Philly Fed
      • 12 vs -10 f’cast, -13.5 prev
      • prices paid 20.8 vs 10.1 f’cast, 9.5 prev

08:51 AM

10s up to 4.312 in Asia, but back under 4.3 in early US trading.  MBS unchanged in 6.0 coupons, but illiquid at times (recently down 6 tick or 0.19).

10:07 AM

Weakest levels now.  MBS down a quarter point and 10yr up 4.4bps at 4.302.

02:38 PM

Losses may be leveling off now after a bit more selling earlier.  10yr up 5.4bps at 4.312.  MBS down 7 ticks (.22).

 Download our mobile app to get alerts for MBS Commentary and streaming MBS and Treasury prices.

Source: mortgagenewsdaily.com

Apache is functioning normally

The Dividend Discount Model (DDM) is a fundamental quantitative valuation tool used to help determine the intrinsic value of a stock. There are several variations of the model based on future cash flow assumptions of owning a stock.

The goal is to determine a stock’s fair value, then compare it to the market price. If a stock is found to be undervalued via the DDM, then an investor might buy shares. If the formula finds a stock is overvalued compared to the market price, it could be a candidate for a short sale.

The DDM has some shortcomings, and other valuation tools can be used in conjunction with it to help improve the accuracy of your fundamental analysis.

Additionally, traders can combine this fundamental analysis with technical analysis tools to determine optimal entry and exit points when buying and selling shares.

What Is the Dividend Discount Model (DDM)

The DDM uses a discounted cash flow approach to valuing a stock. The idea is that a stock’s value is simply the present value of future dividends when discounted back to the present. This equity valuation technique looks closely at the cash flows of a stock including future dividend payments and the sale of the stock itself at some future date.

You can think of it as a bottom-up investing approach. The dividend discount model is used to find stocks that are either under- or overvalued compared to the market price. Thus, it is used to find long and short ideas using fundamental analysis and equity valuation.

To better understand the DDM, it’s helpful to know how business fundamentals, and fundamental stock analysis, works.

When a firm earns profits, it can either retain those earnings or pay them out as dividends. The DDM can work best with companies that pay out a large proportion of its profits as dividends. The DDM does not work as well on firms that do not distribute dividends or on companies that pay very little out to shareholders.

The dividend discount model formula is also based on the notion of the time value of money, which says that a dollar today is worth more than a dollar in the future. For this reason, firms that have big dividends today are generally thought to be worth more than those that defer them to the future (per the calculation).

💡 Quick Tip: All investments come with some degree of risk — and some are riskier than others. Before investing online, decide on your investment goals and how much risk you want to take.

Dividend Discount Model vs Discounted Cash Flow Model

The Dividend Discount Model (DDM) is closely related to the Discounted Cash Flow Model (DCF) but has distinct differences.

The DDM focuses on the cash flows associated with holding a stock, including dividends and cash received upon a stock sale.

The DCF model examines the cash flows in a company and determines the overall market value of the company. Cash flows include profits, depreciation, changes in accounts receivable, changes in accounts payable, etc. As you might imagine a DCF calculation is extremely detailed and requires some financial and accounting acumen to perform accurately.

Both models require determining future cash flows and forecasting the future requires a mix of art and science to develop accurate valuations.

Dividend Discount Model Formulas

There are several dividend discount model formulas. Each is based on the nature of future dividend distributions from the company to shareholders.

Gordon Growth Model

The Gordon Growth Model (GGM) is one of the most popular versions of the DDM. It is named after American economist Myron Gordon, who first developed the valuation technique. The GGM is also a rather straightforward spin on the DDM since it assumes a stock will pay dividends at a constant rate into perpetuity.

You might use the GGM when analyzing very stable businesses that have steady cash flows and a track record of consistent dividend payouts. Big, blue-chip companies and utility stocks are good examples. The GGM is expressed as:

Where:

•   V0 = The current stock price

•   D1 = The dividend payment one period from now

•   r = The required rate of return on the stock

•   g = The constant growth rate of the company’s dividends into perpetuity

Be aware that the model is extraordinarily sensitive to the dividend growth rate used.

One-Period Dividend Discount Model

The one-period DDM is used less frequently than the popular Gordon Growth Model. It is useful when an investor wants to calculate a stock’s fair value in order to trade it after one period (often one year). Since it is a one-period look, a single dividend is used along with the proceeds of the sale of the stock. Those are the only two cash inflows.

Where:

•   V0 = The current stock price

•   D1 = The dividend payment one period from now

•   P1 = The stock price one period from now

•   r = The required rate of return on the stock

Multi-Period Dividend Discount Model

In contrast to the one-period DDM, the multi-period formula assumes that an investor plans to hold a stock over a period that features many dividend payments.

What makes this variation of the DDM tough is that you forecast several future dividends. There is no guarantee that a firm’s payout policy will match your forecast. Like other DDM models, a final return of capital is assumed — the sale price of the stock at the end of the holding period.

Each future dividend is discounted back to the present using a discount rate that is typically the firm’s estimated cost of equity.

Variable Growth DDM or Non-Constant Growth

You can get even more complex with the variable growth version of the dividend discount model formula. With this approach, you can divide growth into several stages.

Perhaps a firm will grow rapidly over the first year, slow down in year two, then finally transition into a steady grower into perpetuity. Some argue this is a more realistic way to value a stock versus other models. The variable growth DDM assumes non-constant growth by commonly using a two-stage or three-stage approach. Of course, even more stages can be applied.

Zero Growth DDM

A final approach is the zero growth dividend discount model. This is actually the simplest of all DDM variations. It is the same calculation you would use when valuing a perpetuity or preferred stock. It’s simply:

Get up to $1,000 in stock when you fund a new Active Invest account.**

Access stock trading, options, auto investing, IRAs, and more. Get started in just a few minutes.

**Customer must fund their Active Invest account with at least $10 within 30 days of opening the account.
Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.

Dividend Discount Model Example

Let’s perform an example using the most common DDM method: the Gordon Growth Model.

Suppose a company pays a current annual dividend of $5 (D0) and will grow it at a steady rate of 3% per year into perpetuity. Shares currently trade at $60. We will also assume we used the Capital Asset Pricing Model to find the firm’s 10% estimated cost of equity. Here’s how the DDM would look:

Since we found the stock’s intrinsic value to be significantly higher than the market price, we might buy shares with the thought that eventually the market will realize how valuable the stock is and the price will move towards our valuation.

Interpreting DDM Results

Interpreting the results from the dividend discount model is straightforward, but it is getting to the output that can be tricky. The inputs to the calculation are often subjective and can change over time, so any interpretation should be taken with a grain of salt.

Dividends can be hard to forecast accurately, and valuations are sensitive to the growth and discount rates chosen. The analyst must also be open to the possibility that market forces can cause an over- or under-valued stock to further drift from intrinsic value.

How Investors Can Use DDM

The dividend discount model, and all its variations, can be used to calculate a stock’s fair value. In practice, that fair value is then compared to the market price.

Investors can choose to go long shares when they determine that a company’s intrinsic value is above the market price. They can also short shares if the DDM valuation method determines that a stock is overvalued compared to the market price.

The dividend discount model can be used to value stocks in different sectors to see which might be the best investment.

The use of the DDM is based on fundamental analysis and the notion that stock values ultimately revert to their intrinsic worth based on the present value of future cash flows.

Investors can use the DDM along with other valuation techniques to help form a better mosaic of a company’s value. Moreover, technical analysis indicators could be used for more precise buy and sell price points.

The Takeaway

The dividend discount model formula is one of the most widely used equity valuation techniques. Its premise is that firms pay out a large proportion of their profits as dividends to equity holders, thus an intrinsic value can be calculated using those predictable future cash flows.

There are several variations of the DDM based on the profile of a firm’s future dividends. There are drawbacks to the DDM, and using other valuation methods can help an analyst determine if a stock is over- or under-valued.

Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).

For a limited time, opening and funding an Active Invest account gives you the opportunity to get up to $1,000 in the stock of your choice.

Photo credit: iStock/svetikd

SoFi Invest®
The information provided is not meant to provide investment or financial advice. Also, past performance is no guarantee of future results.
Investment decisions should be based on an individual’s specific financial needs, goals, and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC registered investment advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).

2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.

3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.

For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or prequalification for any loan product offered by SoFi Bank, N.A.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Claw Promotion: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.

SOIN0221052

Source: sofi.com

full disclaimer and complete list of partners.

Table of Contents

Source: goodfinancialcents.com

Apache is functioning normally

Zillow is getting into the mortgage game as it bids to own more of the home buying process. The company has just acquired Mortgage Lenders of America to fuel its new bid, it said in an announcement timed to coincide with its second-quarter earnings report.

The company reported total revenue of $325.2 million for the second quarter, up 22 percent compared to one year ago. Profits came in at 13 cents per share, excluding certain costs, above Wall Street’s estimates of profits of 10 cents a share.

Mortgage Lenders of America is a national brokerage headquartered in Overland Park, Kansas. With the acquisition, Mortgage Lenders’ 300-odd employees will now become a part of the Zillow Group.

Terms of the acquisition were not disclosed.

Zillows move into mortgage lending doesn’t come as a surprise, as the company recently kicked off a new line of business this year that involves buying up homes, doing them up and selling them on. Zillow’s Instant Offers service was first made available in Phoenix, Arizona, and has already been expanded to Las Vegas and Atlanta since then. Now, by acquiring a lender, Zillow can serve its customers during more steps of the home buying process.

“We’re taking our huge advantages, which are our audience and our brand and our resources, and expanding into other business vertically,” Zillow CEO Spencer Rascoff said on the company’s second-quarter earnings call.

Zillow’s audience is certainly big enough, as it reported 186 average monthly users during its most recent quarter, up 4 percent year-over-year. This figure includes all of Zillow’s brands, including Trulia, RealEstate.com and StreetEasy.

“This quarter also marked a major milestone in Zillow Group’s history, as we launched our Homes business and began buying houses directly from homeowners in two cities through Zillow Offers,” Rascoff said in a statement. “At this exciting time in the real estate industry, Zillow Group is committed to developing innovative technology and services, like Zillow Offers and, with today’s announcement, potential for mortgage originations, that help our partners meet evolving consumer expectations, while generating more revenue opportunities.”

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected].
Latest posts by Mike Wheatley (see all)

Source: realtybiznews.com

Apache is functioning normally

Portrait of Charlie Ferrer in a client’s home by Tim Lenz. From left:
Various work on paper and Thomas Barger’s Gingham Passion Chair, 2020. All images courtesy of Ferrer.

At what point after graduating college do we let go of collapsible dinner tables and high-end knock-offs? For interior designer Charlie Ferrer, the answer is ASAP. The Chelsea-based creative founded his own interior design studio and  gallery in 2012, offering a plethora of furniture, lighting, and art by both notable and emerging designers. The joint practice has been the go-to agency for fellow creatives and private collectors who appreciate his eclectic eye. Here, Ferrer discusses his personal favorite artists, the importance of supporting smaller talent, and the secret to putting together a tasteful interior.  

CULTURED: What do you think makes the New York art scene distinct?

Charlie Ferrer: The density of resources. New York has the highest concentration of galleries, dealers, institutions, working artists, curators, advisors, conservators, and, not least, collectors. This proximity of people and talent, money and ideas, breeds a highly productive atmosphere. 

​​​​​From left: Andrew Hughes, Gemini Table Lamp, 2018; Camilla Reyman, Guilty Pleasure #18, 2015; Wolfgang Tillmans, Peach alive, 2016; Joe Zorrilla, Cartographies (Sheet), 2013. All photography of Ferrer’s home by William Jess Laird.

CULTURED: You’ve been billed as a “millennial designer.” What do you think this generation is doing right and wrong in their homes?

Ferrer: There are plenty of young collectors participating in the art and design markets at advanced levels, and that’s great. I wish for more participation at the emerging level. There is a vast world of young people making art. Where are their collector counterparts? I would love to see the coalescence of a larger community of “emerging collectors,” a group that supports their artist contemporaries, choosing art and design purchases as frequently as other discretionary categories like fashion and travel. The spend can be modest—it’s less about money and more about curiosity, education, a shift in focus. I rarely walk into the home of a 30-year-old or even a 38-year-old to find a handful of thoughtfully collected pictures or objects. I find this reality disappointing.

This same wish extends to interiors and collectible design. Millennials tend to consume commodified retail products. Why choose formless sectionals, poorly knocked-off Scandinavian design and Pierre Jeanneret reproductions when there are so many opportunities for an individualized expression of taste? Historical design and specialty goods for the home are more accessible now than ever. 

From left: Jacques Quinet, Dining Table, 1950s; Mark Steinmetz, 
Knoxville, TN (teenage boy looking out window), 1989; Daniel Turner, Untitled 5150 3.5.13, 2013; 
César, Autoportrait quadrillé, 1984/96; Jacques Adnet, Pair of Leather Dining Chairs, 1960.

CULTURED: How does a client’s art collection impact your vision for their interiors? How did you build your space around your own?

Ferrer: I am selling collected environments. When a client comes to me with an existing collection of art and/or design, we make space for it. I prefer that every room I touch contains art and objects, but I do not necessarily design rooms for art or the inverse—select art for specific rooms. I suppose large-scale works are one exception. If a work requires a massive wall, a special path of access into the space, etc, we plan for that early on in our process.

Philosophically, I believe in collecting for the sake of a collection and creating interiors that support and dialogue with that collection. I build spaces through an iterative process of layering in which every object is something of meaning on its own. As a project evolves, an assemblage of cool things grows. The vision for the project as a whole eventually takes form. The sum of its parts feels eclectic and organically collected because it is. The best projects are never really finished, they keep evolving, even if just in small ways. 

When it comes time to install art, I do like to hang densely, often asymmetrically and sometimes unconventionally, so long as the client is on board. 

David Morehouse worked at the Hammer during our years there. Through David, I enjoyed a lot of exposure to artists and collectors and dealers—artists like Mark Bradford, Mark Hagen, Elliott Hundley; collectors Eugenio López, Beth Rudin DeWoody, Bill Bell, Alan Hergott and Curt Shepard; dealers Shaun Regen, Hannah Hoffman, Nino Mier, David Kordansky. The art world in LA 10 plus years ago felt like a small club. That period in my life was vastly eye-opening. It clued me into a world I did not know. Though I had a gallery for a year where we showed furniture and art (featured in CULTURED‘s Spring 2013 issue), I don’t think I actually acquired any art for myself until I left for New York. 

CULTURED: What is the first piece you ever bought?

Ferrer: An abstract painting by Shinpei Kageshima from Take Ninagawa at NADA, Miami Basel in 2011. That was an exciting moment for me—being at a busy fair, finding a work by a young artist that spoke to me, shown by a dealer who had come from so far away, offered at a price I could conceivably afford. 

From left: Deborah Remington, Icar, 1983; Jed Ochmanek, Untitled, 2010; Émile-Jacques Ruhlmann, Desk, 1930s; Patrick Dupré, Sculpture Cinétique, 1977; Thomas Beale, Silence, 2004; Maynard Monroe, Never Underestimate the Power of Babel, 2012; Raphaël Décorateur, Smoked Acrylic Lounge Chair, 1960s.

CULTURED: Which work provokes the most conversation from visitors?

Ferrer: A mixed media piece composed of used socks, silicon, and pigment on canvas called A Rag of Sorts by Jesse James Thompson. It is appealingly tactile and fetishistic. The colors are beautiful and so is the bronze frame I had made for it. I bought the work out of a group show of MFA candidates put on by Edsel Williams at The Fireplace Project in East Hampton.

CULTURED: Which artist are you currently most excited about and why?

Ferrer: Kevin Beasley, in particular his figurative sculptures, for their rich materiality and the palpable emotion they embody for me. Pretty much anything is shown by Gordon Veneklasen at Michael Werner. The quality of their program is impeccable. On the design side, I am impressed by what Alex May is doing with SIZED out of Los Angeles. The shows are broad and ambitious. They inspire me.

César, Autoportrait quadrillé, 1984/96.

 CULTURED: What was the most challenging piece in your personal collection to acquire?

Ferrer: For lovers, maybe, but for art I’m not one to play the hard-to-get game. I just don’t have the bandwidth to get involved at that level personally. I suppose for me the toughest acquisition was my César sculpture because it was a matter of finding the funds when I found the piece. Sometimes, I stretch my limits to get a work I know I want. There is a distinctive gut feeling, a reflex. I imagine others can relate… The timing was right enough for the César. Thankfully, the gallery was patient, and it worked out. I am very fond of that piece. 

CULTURED: Is there one piece that got away, or that you still think about?

Ferrer: One of Christopher Wilmarth’s ethereal glasswork sculptures at Craig Starr Gallery. Craig put on a show in 2020 that I continue to daydream about. 

Sign Up for the Cultured Newsletter

Sure, we can be close friends. Unfiltered access awaits.

Source: culturedmag.com

Apache is functioning normally

Amid the picturesque landscapes of Tennessee, a collection of captivating small towns beckons with their unique stories, warm hospitality, and vibrant community spirit. These towns offer more than just houses; they offer a glimpse into the heart of the Volunteer State’s culture, traditions, and way of life. In this article, we’ll embark on a journey through the 11 small towns in Tennessee, uncovering the experiences, attractions, and the genuine Southern charm that make each town a welcoming haven.

1. Paris, TN

Median sale price: $235,000 

Walk Score: 68

Nestled along the Tennessee River, this town’s historic downtown boasts well-preserved architecture, specialty boutiques, and local cafes that tell tales of bygone eras. Paris is also home to the iconic Eiffel Tower replica, a testament to its French heritage.

Homes for sale in Paris, TN

Apartments for rent in Paris, TN

2. Brownsville, TN

Median sale price: $200,000 

Walk Score: 66

Brownsville invites residents to experience a blend of culture and community that defines its character. If you’re a music lover, swing by the West Tennessee Delta Heritage Center, where you can learn all about the birthplace of blues music. And for a bit of history, the Tina Turner Museum at Flagg Grove School is a must-see – it’s where the Queen of Rock ‘n’ Roll herself went to school. 

Homes for sale in Brownsville, TN

Apartments for rent in Brownsville, TN

3. Lexington, TN

Median sale price: $270,000 

Walk Score: 61

Located amidst rolling hills, Lexington offers a sanctuary where nature and nostalgia thrive. The town’s historic architecture and tree-lined streets create a picturesque backdrop, while local parks provide opportunities for outdoor activities and relaxation.

Homes for sale in Lexington, TN

Apartments for rent in Lexington, TN

4. Humboldt, TN

Median sale price: $232,750 

Walk Score: 61

Humboldt is a small town in Tennessee with some big surprises. If you’re a vintage collector, their Main Street is like a treasure trove of antique shops that are just begging to be explored. And if you’re a bit of a history buff, the West Tennessee Regional Art Center is housed in a former railroad depot. Fun fact: Humboldt proudly claims to be the “Tomato Capital of the World,” and they even throw a big Tomato Festival every year.

Homes for sale in Humboldt, TN

Apartments for rent in Humboldt, TN

5. Arlington, TN

Median sale price: $431,397

Walk Score: 55

Arlington seamlessly blends suburban comforts with the tranquility of rural living. The town’s well-planned neighborhoods and parks create a friendly and fun atmosphere, while its local amenities and shops offer convenience. Arlington’s close proximity to Memphis allows residents to enjoy city attractions while coming home to the serenity of the suburbs.

Homes for sale in Arlington, TN

Apartments for rent in Arlington, TN

6. Martin, TN

Median sale price: $243,250 

Walk Score: 59

Home to the University of Tennessee at Martin, this town provides learning not just in the classroom, but in every corner. The university’s events, cultural offerings, and sports games contribute to the town’s lively environment. Martin’s local shops, eateries, and coffeehouses provide spaces for connection and relaxation.

Homes for sale in Martin, TN

Apartments for rent in Martin, TN

7. Bolivar, TN

Median sale price: $120,000 

Walk Score: 60

Bolivar offers people an escape from the hustle and bustle, where life moves at a pace that embraces simplicity. If you’re up for a bit of adventure, visit the Hatchie River for kayaking and fishing – perfect for a lazy day on the water. For a slice of history, check out The Pillars, a historic mansion that’s been around since the 1820s.

Homes for sale in Bolivar, TN

Apartments for rent in Bolivar, TN

8. Henderson, TN

Median sale price: $145,000 

Walk Score: 59

Located less than 2 hours from Memphis lies the small town of Henderson. Its proximity to Chickasaw State Park provides both natural respite and opportunities to explore its historical facets. For architect enthusiasts, the Chester County Courthouse clock tower presents an intriguing subject. 

Homes for sale in Henderson, TN

Apartments for rent in Henderson, TN

9. Dyersburg, TN

Median sale price: $215,900 

Walk Score: 47

In Dyersburg, life is a harmonious blend of city comforts and the serenity of the countryside. The town’s local shops, eateries, and events cater to a variety of tastes, while its nearby natural attractions offer outdoor explorations. Dyersburg’s strong sense of unity is reflected in its gatherings and local initiatives that bring residents together.

Homes for sale in Dyersburg, TN

Apartments for rent in Dyersburg, TN

10. Mount Carmel, TN

Median sale price: $320,000 

Walk Score: 14

Mount Carmel offers a quiet corner where small-town charm prevails. For a taste of adventure, take a hike along the serene trails of Bays Mountain Park, where you might spot elusive wildlife and catch stunning panoramic views. The town is also home to Long Hollow Canopy Tours, where you can zip line through lush forests for an exhilarating experience.

Homes for sale in Mount Carmel, TN 

Apartments for rent in Mount Carmel, TN

11. Dayton, TN

Median sale price: $397,000 

Walk Score: 49

Sitting along the banks of the Tennessee River, Dayton offers a riverside retreat and a glimpse into history. The town’s historic district showcases well-preserved architecture, while local shops and cafes bring a modern touch. Dayton’s outdoor activities, waterfront parks, and nearby attractions offer opportunities for adventure and relaxation.

Homes for sale in Dayton, TN

Apartments for rent in Dayton, TN

12. Manchester, TN

Median sale price: $290,000 

Walk Score: 64

In Manchester, past and present intertwine to create a lifestyle that’s rich in community and comfort. The iconic Bonnaroo Music and Arts Festival that takes over the town annually brings an electric buzz and a flood of music enthusiasts from all corners of the country. With its friendly neighbors and events like the annual Moon Pie Festival, life in Manchester offers a warm, welcoming atmosphere that’s hard to resist.

Homes for sale in Manchester, TN

Apartments for rent in Manchester, TN

13. Smithville, TN

Median sale price: $250,000 

Walk Score: 56

Smithville’s lakeside views and quaint delights offer a pleasant escape from the ordinary. The town’s closeness to Center Hill Lake allows residents to enjoy boating, fishing, and lakeside picnics. Residents come together during the Fiddler’s Jamboree, celebrating local talent in music and crafts and showcasing the heartwarming spirit that defines Smithville.

Homes for sale in Smithville, TN

Apartments for rent in Smithville, TN

Wrapping up small towns in Tennessee

In these 13 small towns in Tennessee, residents discover not just houses, but homes, and not just neighbors, but an extended family that shares stories, experiences, and the simple joys of life. These towns are a testament to the enduring beauty of the Volunteer State, where every corner is filled with the magic of hospitality, history, and heartfelt connections.

Source: redfin.com