Angelo Mozilo, one of the mortgage industry’s biggest supporters for advancing low and moderate income homeownership – but would become the face of its biggest catastrophe – died on Sunday.
The news was first reported in Rob Chrisman’s daily newsletter and confirmed by his son Mark. Mozilo was 84.
Mozilo co-founded what would become Countrywide Financial Corp. in 1969 with David Loeb, eventually turning the nonbank into the industry’s largest originator and servicer. Later, the pair would found what became known as IndyMac, which met its own fate in 2008 after becoming a bank. At that time, Mozilo was no longer involved in its affairs.
Mozilo was known in the industry for both his perpetual tan as well as his sense of style. Starting in October 1991 and over the following 12 months, Mozilo was the face of the business as president (a position that has since been renamed chairman) of the Mortgage Bankers Association.
Under Mozilo’s stewardship, Countrywide emphasized working with low- and moderate- income communities. In 1999, Mozilo increased Countrywide’s five-year commitment, the We House America campaign to serve these borrowers, to $80 billion.
A 2003 article noted that Countrywide grew the commitment to $100 billion and achieved it three years early. It then increased the goal to $600 billion, to achieve by 2010.
Countrywide would not survive to that target date.
At the start of 2008, weighed down by poorly originated loans, which some said were reportedly done at the direction of Mozilo, Bank of America agreed to buy what it already didn’t own of Countrywide for $4 billion. By then, Countrywide had moved from being an independent mortgage banker to owning a thrift.
Mozilo never faced criminal charges for what happened at Countrywide but did agree, without admitting or denying liability, to a settlement with the Securities and Exchange Commission for $67.5 million.
What particularly aroused ire in some quarters was the so-called “Friends of Angelo” program. Reportedly some 18,000 of these loans were made over a 12-year period that included a 50-basis-point price break along with fee waivers.
Mozilo spent the succeeding years pushing back on the perception he and Countrywide, along with subprime lending, bore responsibility for the Financial Crisis.
In a 2019 Bloomberg Television interview, he said the blame for the turmoil was with everyone from banks to politicians and bond-rating companies.
“Let them believe what they want to believe,” he said. “I never saw it coming. Never.”
Oscar-winning director James Cameron‘s knack for innovation, attention to detail, and sense of responsibility are equally apparent in his films and homes. He is best known for his work on blockbusters “Titanic,” “Avatar,” and “Aliens,” among others.
You might even think of his Hollister Ranch a real estate blockbuster. And he’s looking for a well-drawn ending to his stewardship of the remarkable, 102-acre estate with unrivaled ocean views. It’s where he wrote parts of “Avatar” and its sequel, thanks to those coastal views fueling his imagination, he told the Wall Street Journal.
He recently listed the beautiful, self-sustaining property for $33 million.
Cameron and his wife, Suzy Amis Cameron, purchased the horse property more than 20 years ago for $4,375,000, records show.
Since then, they’ve been beautifying the grounds and structures, reducing the carbon footprint, and upping the style quotient.
The estate runs on a solar-powered system, a wind generator, and storage for the energy they absorb. There are organic gardens for growing food, and water is supplied by two generous wells—one for agricultural use and another for drinking water.
Natural materials such as wood, glass, and stone make up the private living spaces, which include an 8,000-square-foot main house and a 2,000-square-foot guesthouse.
The main residence has five bedrooms and seven bathrooms, two offices, a gym, media room, and game room.
There is a massive great room with vaulted ceilings, highlighted by rustic-wood beams, and stone floors below. The house was designed with abundant glass doors and tall windows for an indoor-outdoor living experience and to fully capture the dramatic ocean views.
The kitchen is another highlight, with custom lighting, cabinetry, and countertops; a large dining island; Wolf range; Sub-Zero refrigerator; and other upscale appliances, plus an impressive hanging pot rack.
For outdoor recreation, there’s a tennis court, lagoon-style pool and spa, plus various trails and seating areas throughout the property. Residents can also pick their own fruit from a variety of trees.
There property comes with a 24,000-square-foot horse barn with nearby paddocks. There’s an adjacent equestrian facility that features ranch offices with a caretaker’s quarters and four apartments, offering six bedrooms and six bathrooms.
The estate is mere steps from the lovely Drake’s Beach, which is part of the pristine “Hollister Ranch Shoreline Preserve.” Surfing, fishing, diving, paddling, beach combing, and many other ocean-related activities are all on the agenda here. You can even ride your horses directly to the beach and up the coastline. How’s that for romantic?
It’s also located close to prestigious Montecito, where you just might run into A-list residents Prince Harry and Megan Markle or Oprah Winfrey, while you’re enjoying local wineries, farmers markets, chic shops, and cultural attractions.
So why would the Camerons ever want to leave this slice of paradise? The director told the Wall Street Journal that they are “scattered around too much,” owning properties in New Zealand, Canada, Manhattan Beach, CA , Crested Butte, CO, and Austin, TX.
Emily Kellenberger, of Village Properties/Forbes Global Properties, and Jeff Kruthers, of Hollister Ranch Realty, hold the listing.
Spokane, WA, is rich in history, natural beauty, and unique attractions. Beyond its well-known features, there are plenty of fascinating and fun facts that make Spokane a great place to explore. From being the birthplace of Father’s Day to hosting the world’s largest 3-on-3 outdoor basketball tournament, Hoopfest, Spokane has a trove of intriguing stories and hidden gems waiting to be discovered.
In this Redfin article, we will delve into some surprising and fun facts about Spokane. So Whether you’re looking to rent an apartment in Spokane or purchase a home in the area, prepare to be entertained and enlightened by what makes this city truly special.
1. The city is named after a Native American Tribe
Spokane derives its name from the Spokane Tribe, an indigenous community that has inhabited the region for centuries. The word “Spokane” comes from the Salish language spoken by the tribe and means “Children of the Sun” or “Sun People.” The Spokane Tribe has a rich cultural heritage and historical significance in the area, and its influence is reflected in the city’s naming. By adopting the name of the tribe, Spokane acknowledges the indigenous roots of the land and pays tribute to the native peoples who have called the region home for generations.
2. Its nickname is the Lilac City
Affectionately known as the “Lilac City,” Spokane’s nickname stems from its long-standing association with the beautiful and fragrant lilac flower. The origin of this nickname can be traced back to the early 20th century when the Spokane Garden Expo showcased an abundance of lilac blooms. Inspired by the sight and aroma of the flowers, locals embraced the nickname “Lilac City” as a symbol of civic pride. Since then, Spokane has continued cultivating its reputation as a city of lilacs, hosting an annual Lilac Festival and Parade, where the community celebrates the blossoming of these vibrant flowers.
3. Spokane Falls is one of the largest urban waterfalls in the US
Spokane Falls holds the distinction of being one of the largest urban waterfalls in the United States. The Spokane River forms the falls as it cascades through large basalt rock formations. The main drop, known as the Upper Falls, measures around 100 feet in height and spans a width of over 500 feet.
4. The city is home to Hoopfest
Spokane is widely recognized as the home of Hoopfest, the largest 3-on-3 outdoor basketball tournament in the world. Every year, the streets of downtown Spokane are transformed into a basketball mecca as thousands of teams gather to participate. Hoopfest attracts players of all ages and skill levels, from amateurs to seasoned veterans. With over 450 courts spread across several city blocks, the tournament spans an impressive distance and showcases the love and passion for basketball that permeates the Spokane community.
5. It is the smallest city to host the World’s Fair
The city holds the distinction of being the smallest city to host a World’s Fair. In 1974, Spokane hosted Expo ’74, a prestigious international exposition recognized by the Bureau International des Expositions (BIE). The fair centered around the theme of environmental preservation and sustainability, focusing on the importance of clean water. The Expo ’74 site, situated along the banks of the Spokane River, was transformed into a sprawling fairground featuring numerous pavilions, exhibits, and attractions. The event not only showcased the natural beauty of the region but also highlighted Spokane’s commitment to environmental awareness and stewardship.
6. Spokane is the birthplace of Father’s Day
Spokane is the birthplace of Father’s Day. Father’s Day was first proposed by Sonora Smart Dodd, a Spokane native, in 1909. Inspired by the newly established Mother’s Day, Sonora sought to honor and recognize the significant role that fathers play in their children’s lives. With the support of local organizations and community leaders, Spokane celebrated the first official Father’s Day on June 19, 1910. The event gained popularity and gradually spread across the country, eventually becoming a nationally recognized holiday in 1972 when President Richard Nixon signed it into law.
7. The city is home to Bing Crosby
Spokane proudly claims Bing Crosby as one of its most famous native sons. Born as Harry Lillis Crosby Jr. in Tacoma, Washington, Crosby grew up in Spokane, where he discovered his passion for music and entertainment. Rising to international stardom, Crosby became one of the most iconic and influential entertainers of the 20th century, with a career that spanned over six decades. Renowned for his smooth baritone voice and charismatic stage presence, Crosby succeeded as a singer, actor, and radio personality. He recorded numerous hit songs, including the timeless holiday classic “White Christmas,” which remains one of the best-selling singles ever.
8. Spokane is home to Gonzaga University
Spokane is home to Gonzaga University, known for its academic excellence and basketball program. Founded in 1887 by Father Joseph Cataldo, an Italian-born Jesuit priest, the university offers various undergraduate and graduate programs. The campus is characterized by its beautiful architecture, blending historic buildings with modern facilities. Gonzaga University’s athletic program, the Gonzaga Bulldogs, has gained prominence in NCAA Division I sports, particularly basketball, where the team has consistently achieved national rankings and made numerous appearances in the NCAA tournament.
There has been a growing trend in recent years towards eco-friendly decor. The rising awareness of the environmental impact of our homes and the increasing availability of sustainable materials and products is driving this demand.
Rising awareness of our home’s impact on the environment and the growing availability of sustainable materials are driving this demand.
There’s also the rising popularity of minimalist and Scandinavian design styles that emphasize simplicity.
You can do numerous things to make your home more eco-friendly, from choosing sustainable materials for your furniture and flooring to using recycled materials in renovations.
Here are some of the latest trends in eco-friendly home decor for 2023.
Sustainable furniture
Sustainable furniture is made from materials harvested or manufactured in environmentally-friendly ways. This can include furniture made from reclaimed wood, bamboo, or other natural materials.
So, how do you recognize this type of furniture?
There are several certifications for sustainable furniture, including the Forest Stewardship Council (FSC) and the Sustainable Furnishings Council (SFC). Here’s what those certifications mean:
Forest Stewardship Council (FSC): The FSC is a non-profit organization that sets standards for sustainable forest management. FSC-certified furniture is made from wood harvested from forests that are managed in a way that protects the environment and workers’ rights.
Sustainable Furnishings Council (SFC): The SFC is a non-profit organization that sets standards for sustainable furniture manufacturing. SFC-certified furniture is made in a way that minimizes the environmental impact of the manufacturing process.
Greenguard Gold: Greenguard Gold is a certification awarded to products that meet strict emissions standards for indoor air quality. Greenguard Gold-certified furniture is made with materials that are low in volatile organic compounds (VOCs), which can harm human health.
These certifications ensure that the furniture was made from sustainably-managed forests and that the manufacturing process was environmentally friendly.
There are several sustainable furniture options available on the market today. These include furniture made from reclaimed wood, bamboo, and other natural materials. Many furniture brands like West Elm and IKEA are also committed to sustainability.
Natural textiles
Natural textiles are another great way to add a touch of sustainability to your home décor.
These textiles are made from fibers that are found in nature. These fibers can be obtained from plants, animals, or minerals. Some common examples of natural fabrics include:
Plant-based fibers: Cotton, linen, hemp, bamboo, jute, and sisal are all plant-based fibers.
Animal-based fibers: Wool, silk, cashmere, and mohair are all animal-based fibers.
Natural textiles are often considered more sustainable than synthetic textiles, as they can be produced without harmful chemicals. They are also usually more biodegradable, meaning they will break down more quickly in the environment.
But their benefits do not stop there for your home and the environment:
Comfort: They are often very comfortable to wear, as they are breathable and absorbent.
Hypoallergenic: Some natural textiles, such as wool and silk, are hypoallergenic, meaning they are less likely to cause allergic reactions.
Luxury: Natural textiles are often associated with luxury and quality.
Reclaimed materials
Reclaimed materials add character and history to your home décor. Look for furniture, flooring, and other home décor items made from reclaimed wood, metal, or other materials.
These items have a unique story to tell and will help make your home feel more special. We’ve compiled a guide below to help you incorporate more reclaimed and recycled materials into your home.
Volatile organic compounds (VOCs) are chemicals that can off-gas from paints and other building materials. These chemicals can be harmful to human health and the environment.
They can cause:
Eye, nose, and throat irritation: VOCs can irritate the eyes, nose, and throat, causing symptoms such as burning, stinging, and coughing.
Headaches and nausea: VOCs can also cause headaches and nausea.
Damage to the liver, kidneys, and central nervous system: Long-term exposure to VOCs can damage the liver, kidneys, and central nervous system.
Increased risk of cancer: Some VOCs are known to cause cancer.
On the environmental front, VOCs can decrease air quality by reducing visibility and increasing the amount of pollutants in the air. They also contribute to climate change by trapping heat in the atmosphere.
When choosing paints for your home, look for low-VOC or zero-VOC paints. These paints will emit fewer VOCs, which will help improve your home’s air quality.
Sustainable lighting
There are many sustainable lighting options available today. These include:
LED lights: Light-emitting diodes (LEDs) are the most energy-efficient type of light bulb available. They use up to 90% less energy than traditional incandescent bulbs and last up to 25 times longer.
CFL lights: Compact fluorescent lights (CFLs) are another energy-efficient option. They use about 75% less energy than incandescent bulbs and last about ten times longer.
Solar lights: Solar lights are powered by the sun, so they don’t require any electricity. They are an excellent option for outdoor lighting, such as pathways and patios.
Choosing sustainable lighting for your eco-friendly decor in 2023 helps reduce your overall energy consumption and environmental impact.
Indoor plants
Indoor plants are a great way to add a touch of nature to your home décor. They can also help to improve the air quality in your home. When choosing indoor plants, look for plants native to your climate. These plants will be more likely to thrive in your home.
Here are a few pointers to get you started on your plant-parenthood journey:
Conclusion
Embracing eco-friendly home decor not only allows us to create stylish and trendy living spaces but also enables us to make a positive impact on the environment.
By incorporating sustainable materials, repurposing and upcycling, and choosing energy-efficient options, we can transform our homes into havens of style and sustainability.
Welcome to the vibrant city of Lincoln, NE. Nestled in the heart of the Midwest, this charming city has so much to offer. From its rich history to its thriving cultural scene, Lincoln is a treasure trove of fascinating discoveries. In this Redfin article, we invite you to test your knowledge as we uncover 9 fun facts about Lincoln, NE. Whether you’re a long-time resident or you’re considering buying a house in Lincoln, prepare to be amazed by the hidden gems and lesser-known tidbits that make this city truly unique. So, buckle up and join us on this exploration of Lincoln’s captivating past, present, and maybe even uncover a few surprises along the way.
1. Named after a presidential legacy
Lincoln, NE, takes its name from none other than Abraham Lincoln, the 16th President of the United States. The city was named in honor of this iconic leader in 1867, and its strong ties to American history lend it a sense of pride and heritage.
2. The city offers an affordable cost of living
Living in Lincoln offers the attractive benefit of an affordable cost of living. As of June 1, 2023, the cost of living in Lincoln is approximately 8% lower than the national average. This translates to significant savings for residents across various aspects of their daily lives. Utility costs, everyday expenses, and housing prices in Lincoln are also notably lower compared to national averages. For instance, the median sale price of a home in Lincoln was just $285,000 in April 2023, nearly $125,000 less than the national median sale price.
3. Lincoln embraces the spirit of conservation and environmental stewardship
The city’s association with Arbor Day, which originated in Nebraska, showcases its commitment to tree planting and preserving green spaces. This dedication to nature is evident throughout Lincoln, with beautiful parks, gardens, and recreational areas to explore. In fact, there are over 136 parks in the city, spanning over 6,000 acres.
4. Star City is the capital of Nebraska
As the capital of Nebraska, Lincoln offers a central location within the state. This geographical advantage ensures easy access to all parts of Nebraska, making it convenient for exploring the state’s natural wonders and attractions.
5. Home to the University of Nebraska
Lincoln is home to the prestigious University of Nebraska, an academic powerhouse renowned for its research and educational programs. The university’s presence contributes to the city’s intellectual atmosphere, offers cultural and sporting events, and provides employment opportunities.
6. Lincoln boasts a vibrant downtown
The historic Haymarket District in downtown Lincoln is a hub of activity, featuring unique shops, trendy restaurants, art galleries, and live music venues. It’s the perfect place to unwind, socialize, and experience the city’s lively atmosphere.
7. It’s a gateway to adventure
Nestled in the heart of the Midwest, the city enjoys a central position that provides unparalleled convenience when it comes to reaching other major destinations. Thanks to its proximity to Interstate 80, traveling to nearby cities and states becomes a breeze. Whether you’re planning a quick weekend getaway, visiting loved ones, or embarking on a business trip, Lincoln’s location serves as a convenient launching pad. The city also boasts a well-connected transportation infrastructure, including a regional airport with direct flights to major hubs.
8. Lincoln, NE is a city that knows how to celebrate
Throughout the year, the city plays host to a diverse range of annual events that bring the community together. One such event is the Lancaster County Fair, a beloved tradition featuring thrilling rides, live entertainment, agricultural exhibits, and delicious food. Another highlight is the Abraham Lincoln Birthday Celebration, which honors the city’s namesake with historical reenactments, educational activities, and engaging presentations. Music enthusiasts eagerly anticipate Lincoln Calling, a multi-day music festival that showcases both local talent and nationally acclaimed artists across various genres.
9. The community engagement is unmatched
Lincoln’s residents take pride in their city and actively participate in local events and initiatives. The annual Lincoln Marathon showcases the community’s enthusiasm for sports and fitness, as participants from around the world join in to experience the city’s vibrant neighborhoods and receive a warm reception from the supportive locals.
Lincoln’s rich history, natural beauty, thriving cultural scene, and welcoming community make it an ideal place to call home. Whether you’re exploring the city’s parks, embracing its arts and entertainment offerings, or engaging with friendly locals, Lincoln is a good place to live.
Replacing worn or outdated furniture and household items can be fun and uplifting. But many new mass-produced items, sometimes referred to as “fast furniture” sold at big-box chain stores, are usually made with cheaper composite materials or chemical stain repellants that will off-gas once they are in the home. Off-gassing is the airborne release of chemicals and volatile organic compounds, or VOCs (architecturaldigest.com/story/what-is-off-gassing).
Much like trendy “fast fashion” clothing, fast furniture isn’t made for durability. Once worn or broken, these items are typically destined for the landfills. The Environmental Protection Agency estimates that in 2018, the most recent data available, 9,680 tons of furniture was landfilled, up from 2.2 tons in 1960 (tinyurl.com/5xhk999p). Because new furniture is often manufactured overseas, it generates carbon emissions from being shipped across the globe.
For those that want to circumvent mass-produced furniture, home décor and kitchen items, buying used items from local thrift and resale stores is a good place to start. Habitat for Humanity ReStore, with locations in Franklin, Wauwatosa and Greenfield (milwaukeerestore.org), offers used furniture, lighting, building materials, home accessories and more. Proceeds from ReStore sales go toward Habitat for Humanity’s affordable home ownership programs.
Thrift stores such as Value Village, Goodwill and St. Vincent de Paul, each with multiple locations through Milwaukee, carry furniture and home décor. Milwaukee’s Bay View neighborhood is a haven for shops selling used furniture and home décor: Spectre Vintage (437 E. Stewart St.), Tip Top Atomic Shop (2343 S. Kinnickinnic Ave.), R Vintage N More (2653 S. Kinnickinnic Ave.), Ormson Supply (2866 S. Kinnickinnic Ave.), BC Modern (3116 S. Chase Ave.) and Good Land Antiques (3391 S. Kinnickinnic Ave.).
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Also on the South Side, Dupree’s Vintage (915 Milwaukee Ave., South Milwaukee) has furniture and home decor. Walker’s Point is home to several antique sellers such as Dime A Dance (1134 S. First St.) and Farm Girl Art & Antiques (803 S. Fifth St.). On the north and west sides of town, Dandy (5020 W. Vliet St.), D&R Affordable Used Furniture (5718 W. Center St.) and A-1 Furniture & Appliance (5601 W. National Ave.) offer used furniture. Out in the suburbs, there’s Antique 2 Modern Used Furniture (13819 W. National Ave., New Berlin).
Some resale stores are only open during select hours, so call ahead.
New Wares Made Sustainably
Sometimes resale and thrift stores don’t always have what we’re looking for. When seeking sustainably made new items, The Sustainable Furnishing Council recommends looking for seals of third-party certifiers, such as Forest Stewardship Council, to be sure wood used to produce the items is sourced in an environmentally sound manner. Look for furniture with little to no VOC finishes, and textiles made from natural fibers (sustainablefurnishings.org/content/questions-to-ask-answers-to-look-for).
Sustainably minded stores in the Milwaukee area that sell new furniture and home décor include La Lune Collection (930 E. Burleigh St.), founded by interior designer Mario Costantini. His collection of rustic wood seating, cabinetry, beds and more are crafted by hand in Wisconsin by skilled artisans. La Lune harvests only fast-growing and invasive wood species, and products are made as ordered.
Il Bosco (225 S. Second St.) offers environmentally conscious furniture and home goods, and repurposed or upcycled handmade stools, tables and shelves. Olsen House (4326 N. Oakland Ave.) features a curated collection of blankets and pillows, kitchenware, holiday items, vases and planters by artisans, and furniture designers with a focus on Scandinavian aesthetics.
For kitchenware and household décor, Ursa Milwaukee (2534 S. Kinnickinnic Ave.) and Sparrow Collective (2224 S. Kinnickinnic Ave.) has glassware, art, mugs and tea towels made by eco-conscious artists and small producers. Murray Hill Pottery Works (2458 N. Murray Ave.), a pottery studio with classes and workshops, has a small retail space with artists’ products like plates, mugs and home décor.
Green Life Trading Co. (1039 S. Fifth St., in the former Glass Pantry space), and natural foods grocers Beans & Barley (1901 E. North Ave.) and Outpost Natural Foods (multiple locations) carry kitchen items and gadgets made from recycled or responsibly sourced materials, and fairly traded items. Plowshare Fair Trade Marketplace & Education for Peace (219 W. Main St., Waukesha offers fair trade dish cloths and gifts.
While on the West Coast, homes in the $20 million range compete in cutting-edge amenities and intricate home design, heading to the Rocky Mountains introduces us to a whole new type of ultra-luxury: the type that comes with massive acreage and tons of history.
That’s the case with Colorado’s iconic Redstone Castle — a 153-acre property known as one of the state’s most storied monuments — which was listed for sale back in 2020 with a $19.75 million price tag and sold in April 2022 for $11,975,000.
Set in the town that inspired its name, Redstone Castle (also known as the Ruby of the Rockies, Cleveholm, or Osgood Castle), the massive estate is 48 miles away from Aspen.
The property includes a carriage house, garages, and horse arena, plus early water rights and the right to build 20,000 square feet of additional cabins or cottages in private, wooded areas on the estate’s grounds.
“Redstone Castle is one of the most regal and oldest mansions in the Colorado Rockies,” said Chris Souki with Coldwell Banker Mason Morse, who represented the property when it came to market.
“It’s a true piece of history. The irreplaceability of the castle, combined with the acreage, pristine setting and value created through the mindful stewardship of the current owners, make this property an incredible opportunity.”
Built in 1902, the historic property was brought to modern standards by its former owners, identified by The Denver Post as April and Steven Carver.
With visions of returning the castle to its original glory, they took meticulous care to preserve the 42-room, 24,000 square-foot home, bringing it into the modern era with all-new bathrooms, updated kitchen and infrastructure.
The renovated interiors today reflect the same air of European opulence from a century ago: leather embossed walls, Tiffany-designed chandeliers, aluminum leaf ceilings and frieze, linen-lined walls by Italian artists, and 14 fireplaces with imported marble and tile.
The history of Redstone Castle, Colorado
Perched on the edge of the Crystal River and surrounded by dramatic red cliffs, cascading waterfalls and 100-year-old pine trees, Redstone Castle (also known as Cleveholm or Osgood Castle) has maintained a towering presence in Colorado history — and is listed on the National Register of Historic Places.
The iconic Tudor-style mansion was built by coal magnate John Cleveland Osgood in 1902 and became a beloved hunting and gaming destination for America’s most powerful dignitaries of the day, including Teddy Roosevelt, J.P. Morgan and the Rockefellers.
Osgood, at the time one of the country’s richest men, based the castle’s design on the ancestral home of his wife, Alma, and fitted its lush interiors with antique European furniture and work by Gustav Stickley and Louis Comfort Tiffany.
When John Cleveland Osgood’s prosperity ended, the coal magnate moved away from the area, only to return to Redstone Castle in the late 1920s, to spend his remaining years there.
After Osgood’s passing, his wife tried to convert the house into a resort, but the Great Depression made that economically unviable; however, later owners were able to run it as a hotel into the 1990s.
By 2003, the property ended up in the possession of the state, and the IRS auctioned it off online in March 2005.
Locals feared that a developer might buy the property and demolish the existing structure, but the winning bidder, Ralli Dimitrius, restored it and reopened it for tours, bringing much-needed tourist traffic to Redstone.
More palatial properties
Redstone Castle on the big screen: the house in ‘The Prestige’
Now, if you’ve never even been to Colorado, but the house still seems oddly familiar, there’s a good reason for that.
Redstone Castle has had quite a memorable big screen presence, as the home was used in Christopher Nolan’s 2006 movie, The Prestige.
The $40-million movie about turn-of-the-century rival magicians starred a stellar cast that included the likes of Hugh Jackman, Christian Bale, Michael Caine, Scarlett Johansson, and David Bowie.
According to the Post Independent, the Colorado scenes were filmed mostly at the Redstone Castle and along the road toward Marble, bringing together a 110-people crew to the area to shoot the scenes on location.
The Colorado castle’s future as a wellness center
In April 2022, Redstone Castle finally found its buyer — after nearly two years on the market.
Stephane De Baets of RC Ownership LLC bought the property for Elevated Returns and announced plans to open a wellness resort at the 25,127-square-foot property, according to The Aspen Times.
The $11.9 million sale ushers in a new chapter for the 120-year-old property, which will live on as a hideaway wellness retreat.
According to Redstone Castle’s new owner, an agreement has been reached with Thailand-based RAKxa Wellness, and the hospitality company will be opening an upscale spa retreat on the property known as the Ruby of the Rockies.
*Note: This article was originally published in September 2020, when the Colorado castle was first listed for sale. It was later updated to reflect the recent sale and to include information on the new owner’s plans for the property.
More iconic properties
Everything You Need to Know about Gracie Mansion, the Official Residence of the Mayor of NYC The Three (Tragic) Lives of Frank Lloyd Wright’s Taliesin House The History of The Breakers, the Vanderbilts’ Iconic Summer Estate in Newport The Remarkable Sheats-Goldstein Residence: Past, Present and Future
Faith-based investing! What does it mean? Is it a worthy investing route to follow?
In this article, we’ll take an in-depth look at this type of investing and explore how you can make it work for you. Read on to learn about how this way of investing strategy allows you to reinforce your values.
Nowadays, investors are not putting their money just anywhere. Investors have realized the benefit of investing in things that matter. These include things like caring for the environment, wildlife, society, and minority groups. They want to make a difference with their investments.
Investors are now looking for investment options, which offer good returns and align with their beliefs and values. This way, even as they make more money, they do it with a clean conscience.
Faith-based investing is an investment philosophy that many investors are now embracing. And, like impact investing or socially responsible investing, it promises to do more than multiply your money.
So, what exactly is faith-based investing, and how does it work? Is it worth your money and time? And, how do you get started with faith-based investing?
Let’s dive in and find out.
What is Faith-Based Investing?
When we see the term faith-based, most of us instantly think of “religious investments.” Well, while it’s connected to religion, it’s definitely not in the way most of us might think.
Firstly, faith-based investing has nothing to do with religious organizations’ stocks. In fact, as you might already know, religious organizations are non-profits, thus, don’t issue public shares.
For instance, you’ll never see churches, mosques, or temples, offering shares to the public.
So, if not investing in religious organizations, what does faith-based investing mean?
Your next guess might be correct.
Faith-based investing is not too different from other investment philosophies. All aim at maximizing investors’ returns.
But, investors here don’t choose just any investment. They focus on investments whose strategies align with their religious values.
This way, the investor’s faith, values, and beliefs determine where they invest their money. As you can notice, while this type of investing doesn’t mean investing in shares from places of worship, it’s still tied to religion and values. And that’s why faith-based investing can also be referred to as values-based investing.
Interestingly, every faith has its opinions and perspectives on how to invest money to support certain causes. Also, the same applies to causes that contradict the faith’s beliefs and values.
For this reason, we will dissect faith-based investing based on some of the main religions around the globe. This will help us understand the concept better.
Top Faith-Based Investing Options
If you want to start your faith-based investing journey, here are some of the main options you can choose from.
Christian Investors
Christianity is the world’s largest religion, with around 2.5 billion followers. And, all these people lead their lives based on certain beliefs and values – investing is part of this life.
If you are Christian or wish to invest based on Christianity values, there are two main investment styles you can opt for:
Catholic Faith-Based Investing
The Catholic faith has its own framework on how believers should lead their economic life. The framework outlines ten faith-based principles and guidelines. This outlines how Catholic Christians should engage in finances and the economy.
Generally, they emphasize investing in companies or funds that support various positive issues. For instance, environmental conservation, human rights, fair employment practices, etc.
Also, Catholic investors will avoid investments that support certain things. These include abortion, weapons, adult entertainment, embryonic stem-cells research, etc.
Their investing principles revolve around moral law and human dignity.
Currently, we have many companies, investment firms, and funds you can pick from. These are companies where such values form part of their investing philosophy.
This means that as a Catholic value investor, you can invest freely in these companies or entities. And, you won’t have to worry about contradicting your faith.
Some excellent examples of Catholic faith-based investment entities include:
Catholic Investment Services
This is a not-for-profit investment management firm designed to deliver high returns on investment. And, it keeps Catholic faith principles at heart. It aims at pursuing investment excellence based on Catholic faith values.
Currently, the firm manages assets worth over $1 billion and serves around 45 Catholic institutions. Also, its restricted companies’ list stands at 700.
Catholic Investment Strategies
This is another great way to invest in Catholic faith-based investments. Here, the platform allows you to invest your money in a way that aligns with your faith and church values.
And as they put it on their website, they will never invest your money in companies whose values contradict the Catholic faith.
Generally, the platform invests in institutions like hospitals, universities, etc.
Also, they offer a portfolio that fits your needs. The portfolio excludes investments that support abortion, contraception, racial and gender discrimination, etc.
The LKCM Aquinas Funds
With the LKCM Aquinas Funds, the main investment strategy is guided by social responsibility (SRI). This Equity Fund offers Catholic faith investors an investment option that promises high ROI.
Its choice of securities and companies to invest in depends on the principles and guidelines formulated by the US Conference of Catholic Bishops. The fund has been operational since 2005 and continues to grow with a 9.83% growth rate since it began.
Protestant Investing
Unlike the Catholic faith that shares common beliefs across the entire faith, Protestants are somewhat different. While some denominations are quite liberal in their beliefs, others are more conservative. But, their principles tend to be similar.
Generally, the Protestant faith encourages work ethics and hard work. It urges its followers to invest in entities that support general Christian values. This mainly involves social consciousness. This means that this type of faith-based investing might not be as strict and specific as its Catholic counterpart.
Also, even as they promote social consciousness, they exclude some investments. These include stocks that support:
Adult entertainment
Weaponry
Embryonic cloning
Addictive behavior (drugs, gambling, etc.)
High-interest loans (shylocks and payday loans)
Some excellent examples of companies and funds that support Protestant faith-based investing include:
GuideStone Funds
For over 20 years, GuideStone has faithfully served faith-based investors and advisors. The platform seeks to offer strong-performance investments guided by various Christian values.
GuideStone provides Protestant faith-based investors an excellent opportunity to invest in mutual funds. And, it offers a diversified portfolio across various asset classes. It does all this with Christian values in mind.
The platform seeks to offer socially screened investments that are well managed. These ones guarantee great returns for the investors.
In essence, they use biblical teachings and values to ensure that investors get good returns. Also, their money is also invested in investments that make the world a better place.
The fund’s main values revolve around family, health, stewardship, life, and safety. So, if this sounds like you, you certainly need to start your investing journey here.
New Covenant Funds
This is a faith-based investment fund by the Presbyterian Church. It seeks to offer Protestants the best investing style based on their values.
Basically, the fund’s investment strategies depend on socially responsible investing. Here, the slogan, “you can do well while doing good,” guides them. It gives diversity in investment options, as well as charitable giving.
The platform makes investment decisions based on social consciousness principles. It supports doing good to help nature and society.
Additionally, it avoids investments that promote negative issues. This includes things like gambling, alcohol and other addictive drugs, pornography, etc.
As a Christian, New Covenant Funds offers something for everyone. Whatever your investment mission is they have something for you.
Jewish Faith-Based Investing
Giving and diversification are the key principles that guide Jewish faith-based investing. Jews follow investment strategies that adhere to these two principles, among other values in their faith.
In the Jewish religion, there are many teachings about giving and diversification, as seen in the Talmud. These teachings subsequently act as guidelines when it comes to investing.
Jewish investing doctrines and beliefs resemble socially responsible investing. Here, society and the environment are major pillars in investment decisions.
Different faith-based investments embrace socially responsible investing. This is because it fits into the guidelines and principles of different religions.
Some of the main issues addressed in this type of investing option include:
Social justice
Climate change
Region’s specific issues
Various mutual funds offering Jewish faith-based investments focus on various crucial issues. Some of the best investment platforms here include:
Jewish Values Investment Funds
Investing in Jewish faith-based mutual funds has been made easier. JVIF, LLC, offers an excellent way for Jews to invest in companies and funds that align with the Jewish faith and beliefs.
This investment advisor recognizes the importance of tzedakah (charitable giving). It allows the Jewish community to invest in things that matter to them.
The Bend the Arc
This is another great fund, offering Jewish investors a chance to grow their money. An, it allows them to take part in charitable giving.
The fund aims to encourage community development by supporting initiatives as follows.
Small businesses,
Affordable housing, etc.
With as little as $20, anyone can invest and make a change. The fund’s Community Investment Note finances various organizations. These are organizations that bring positive change to various communities globally.
If you want to invest in something that makes the world a better place, this might be the way to go.
Islamic Investing
Just like Christianity and Jewish faiths, the Islamic religion has values and beliefs. These guide its followers on the way to lead their lives, including financial matters. This way, when it comes to investing, Muslims have specific guidelines or principles to follow.
Generally, Muslim investors will adhere to halal or permitted values while investing. This set of rules allows investors to undertake a disciplined type of investing. They make investments that are ethically, socially, and environmentally responsible.
Islamic investing principles discourage investing in areas such as:
Pork related businesses
Companies that invest in gambling, drugs, and adult entertainment
Short-term speculation (the faith considers this as gambling).
Companies with huge debts since they are paying interest for the loans.
Any investment that pays interest (money markets, savings account, etc.)
In other words, any company or fund that wants to qualify for Islamic investing must adhere to Sharia law. It must follow the teaching from the Quran, Qiyas, Ijma, and the Sunnah.
If you’ve been looking for a way to make Islamic faith-based investments, here are some excellent options for you.
Amana Mutual Funds
These are Islam faith-based mutual funds offered by Saturna Capital. The funds’ investment strategies are guided by the Islamic faith. And, they embrace social, ethical, and environmentally-friendly practices.
However, they prohibit investing in interest-bearing securities and bonds. They’ll usually try to guard their investments against inflation through long-term equity investments.
Saturna follows investment principles that avoid interest or companies engaging in prohibited issues. These include the sale of alcohol, pornography materials, gambling activities, etc.
Allied Asset Advisors, Inc.
Allied Asset Advisors operates like any other investment management company. It offers portfolio management, financial planning, mutual funds, and retirement plans for investors.
The company is Islam faith-based and offers investment opportunities supporting the Islamic faith.
It introduced the Iman Fund, which is tailored to fit the needs of Muslim investors. It adheres to Sharia law and principles.
Is Faith-Based Investing Worth It?
Absolutely yes! If you find the right investing platforms, you can easily make money. Also, you’ll feel proud of how your money is being invested.
But, you should note that faith-based investing faces the same risks as other investments. So, ensure that you’ve not settled for just any company or fund.
Choose companies that can prove strong financial standings, charge reasonable fees, and that show growth potential. This way, you don’t end up investing your money in companies that will never offer value for your investment.
Generally, faith-based mutual funds and ETFs offer better long-term returns.
This is according to research published by John C. Adams and Parvez Ahmed from the University of Texas and the University of North Florida.
So, if you feel that faith-based investing ought to be your next investment move, it can certainly be a good move. But as mentioned, do thorough research on the best faith-based investments depending on your values and beliefs.
Author Bio:Kyle is the founder of The Impact Investor, a website focused on helping others invest sustainably without sacrificing financial returns. We all want products sourced by sustainable and ethical means, why should investing be any different? Follow my investing journey on my Facebook, YouTube, or Twitter accounts.
How are you doing on your New Year’s resolutions and goals? Are you still on track? Many take no action and expect different results. Why do we keep doing the same things over and over and “hope” things will mysteriously “change”? Hope and change are more than words. They can win elections, but the proof is in the results. Are you getting the financial results you desire?
As finances affect almost every area of our lives, stewardship should be one of the areas that capture our greatest attention in the New Year. Yet as a portfolio manager and financial advisor for the past 16 years, I am finding this is the area most people neglect. They get “too busy” or “uninterested” or even “unsure” how to plan ahead.
With the troubled economy, many financial problems that were covered over during the prosperous times have now been exposed. It’s not difficult to survive when jobs are plentiful and credit is easy! However in today’s economy smart money moves are a hot commodity!
Now as important as it is to make wise decisions with your money, it is just as important to avoid the bad money mistakes. These money mistakes are what cause people to go deeper in debt, not save enough for retirement, and lose money in the stock market to name a few.
In 2011, this is your year to make things right! Out with the old and in with the new. If you’ve already started saving for your future, this is the year to supercharge your savings. If you haven’t started, well this is the year to start! In order to plan ahead, we have to make sure we have a plan to combat the four deadly forces that wreak havoc in our finances.
To Win The Battle, We Need A Game Plan!
To win at the money game, you will need to be aware of the dangers that lie ahead. You can never be bullet proof, but having plans in place can soften the blows that are sure to come. Let’s look at four problem areas that have the potential to blow up a financial plan.
Problem Area # 1: Ignoring Inflation
Inflation erodes your future purchasing power over time. $100,000 in 2011 will not buy less products and services in 2012, never mind twenty years from now Are equities the best investment choice during inflationary periods of the market? Quite often, the answer is “no.”
What about bonds? Think again! These usually do not do well either. So what’s the magic answer? When inflation appears, the assets that tend to perform the best are alternative investments such as private equity funds, real estate investment trusts and commodities. These may not only help you diversify your portfolio, but also help you fight the effects of inflation on your invested assets.
Interest rates are starting to rise and I believe hyper-inflation (high inflation) is right around the corner. As you invest, you’ve got to recognize the impact that inflation can have on your investments and plan accordingly.
We Are Planning Ahead Right Now!
At FaithBasedInvestor.com, we are loading up on investments that do well during inflationary periods:
• Precious metals: We will continue to hold investments that have inflation protection. Gold and silver should continue to be hot commodities. • Agriculture: We will continue holding companies and investments that have exposure to the food industries. • Energy: We will continue to hold and look for opportunities in the energy sector: coal, oil, and alternative energy solutions. • Foreign Currencies: We will diversify our domestic exposure (US Dollars) by using foreign currencies like the Yen, Swiss Franc, and Aussie Dollar. • Dividend Stocks: We will look to hold and seek out companies paying dividends. This will help us with cash flow and outpacing inflation. • Inflation-Protected Bonds: We will continue to hold U.S. and foreign bonds that have inflation protection.
Problem Area # 2: Ignoring Investment Fees
Investment fees represent the second wealth killer. These fees can add up to thousands or even millions of dollars over decades of compounding. 401(k) management and administration fees, mutual fund fees, and annuity expenses wipe out investor’s wealth each and every year. The Department of Labor recently showed that even a 1% increase in your fees can wipe out as much as 28% of the value of your 401(k) over time. Also look at your mutual funds. The average cost of most funds is north of 3% annually! (1.6% average expense ratio and 1.4% SAI Fees) For more on fees check out this article on 4 reasons why mutual funds are lousy investments.
Problem Area #3: Ignoring Taxes
The big appeal of 401(k)’s and IRAs is the ability to defer taxes, right? However, with the United States’ $14 trillion worth of debt, which likely direction do you anticipate future tax rates will go? 401(k)s, IRAs, and annuities are ticking tax bombs! The biggest problem with deferring taxes is this:
Let’s say you are successful managing your investments and grow a HUGE nest egg. Congratulations, right? Yes, it’s great to have more money! However, at retirement age when you pull this money out, all that growth and your tax deferred contributions now become fully taxable ordinary income when withdrawn. Say you save $5,000 and it grows to $100,000. The entire $100,000 is fully taxable. At a 40% tax rate, that’s $40,000 in taxes! The government allowed you the initial tax deduction of $5,000 for $40,000 or more in the future. Not a bad deal FOR THEM!
Now don’t hear we wrong. I’m not saving you shouldn’t have any tax-deferred investments. I just wouldn’t put all your savings here. I would have a combination of tax-deferred, tax-free, and taxable savings. It’s simply hedging your tax exposure.
Problem Area #4: Taking Far Too Much Risk For Too Little Of A Return
Many people tell you to buy an index fund and hold it forever… Or take a look at mutual funds with good five and ten year track records and you will do great! Good in theory, bad in practice for most investors. If you put $100,000 into an S&P 500 index back in 2000, that would be worth about $114,000 – a gain of nearly 14% in the S&P 500 fund from January, 2000 to January of 2011. Wow! 14% for 11 years worth of a roller coaster! Was this little return worth all of those sleepless nights?
Instead choose investments that are in line with your faith and values and you know inside and out. Most investors hand off their money to “someone else”, be it a mutual fund, advisor, broker, or money manager, without understanding what they are investing in, how much risk they are taking, what values they are supporting, and how liquid or illiquid the investment is.
Make This The Year To Get Educated
Don’t just take my word for it. Do the research, do your homework! Make this the year you will read up on finance and start making wiser decisions. What are your thoughts?
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There’s more to Nevada than neon lights and slot machines.
Home to some of the most picturesque landscapes, vibrant communities and rich cultural histories, Nevada has a lot to offer students looking for the ideal place to pursue their higher education. In this article, we will explore the top college towns in Nevada, focusing on Las Vegas, Reno, Henderson and Incline Village, with a couple of honorable mentions to boot.
Las Vegas is not just about luxurious hotels and world-class entertainment. This famous city is also home to a thriving academic community, making it one of the best college towns in Nevada. The University of Nevada, Las Vegas, Nevada State College and the College of Southern Nevada all have campuses here, creating a diverse and dynamic student population.
Living in Las Vegas provides students with a unique blend of excitement and academic opportunity. The city is home to some of the best libraries, research centers and museums in the country, providing a rich learning environment for those who are passionate about their studies and willing to seek knowledge outside of the classroom. Furthermore, the city is also host to numerous events and conferences, allowing students to network and learn from professionals in their chosen fields.
Las Vegas is not all about work, though. Students can take advantage of the city’s world-famous entertainment scene, with concerts, shows and sporting events taking place almost every night. If you need a break from the glitz and glamour, the city is surrounded by natural beauty, with Red Rock Canyon and the Valley of Fire State Park just a short drive away.
Reno has a lot to offer students who call it their college home. This college town in Nevada is home to the University of Nevada, Reno, Truckee Meadows Community College and several other institutions of higher education. With a population of over 250,000, Reno provides an urban experience while still maintaining a small-town feel.
Reno is not just a great place to study, it’s also a hub for culture and entertainment. The city boasts an impressive arts scene, with numerous galleries, museums and theaters providing ample opportunity for students to immerse themselves in the creative side of life. The annual Artown Festival, held every July, is a month-long celebration of the arts, featuring hundreds of events showcasing local and international talent.
Outdoor enthusiasts will be in their element in Reno. Lake Tahoe, located just a short drive away, offers a range of recreational activities, from hiking and mountain biking in the summer to skiing and snowboarding in the winter. The Truckee River, which flows through the heart of Reno, provides opportunities for kayaking, fishing and riverside picnics.
Henderson is another fantastic option for students seeking an authentic college town experience. Home to Nevada State College, Touro University Nevada and the College of Southern Nevada’s Henderson campus, this suburban oasis provides a peaceful and supportive environment for academic pursuits.
Situated just 16 miles southeast of Las Vegas, Henderson provides students with easy access to the excitement and opportunities of the big city, while also offering a more relaxed and community-focused lifestyle. The city is known for its beautiful parks, excellent schools and family-friendly atmosphere.
Henderson has a thriving arts and culture scene, with several theaters and galleries hosting events and exhibitions throughout the year. The city’s many recreational facilities, like the Whitney Mesa Recreation Area, provide students with plenty of opportunities to unwind and connect with nature.
Outdoor enthusiasts will appreciate the close proximity to both Lake Mead and the Sloan Canyon National Conservation Area, both offering a wealth of recreational activities like hiking, biking, boating and reconnecting with Mother Nature. Additionally, Henderson is home to numerous golf courses, catering to golfers of all skill levels.
Incline Village, nestled along the picturesque shores of Lake Tahoe, is a hidden gem among college towns in Nevada. This idyllic mountain community is home to University of Nevada, Reno at Lake Tahoe, a private liberal arts college known for its focus on entrepreneurship, environmental science and fine arts.
Incline Village offers a unique college experience, combining rigorous academic programs with a strong emphasis on outdoor adventure and environmental stewardship. Students at University of Nevada, Reno at Lake Tahoe can immerse themselves in their studies while also enjoying the breathtaking natural beauty that surrounds them.
Lake Tahoe is the main attraction in Incline Village, offering a wide variety of water sports, hiking trails and winter sports opportunities. The nearby Diamond Peak Ski Resort is a favorite among locals and visitors alike for skiing and snowboarding during the winter months.
Located in northeastern Nevada, Elko is home to Great Basin College, a comprehensive institution offering a range of associate and baccalaureate degree programs. This college town is known for its strong sense of community and rich Western heritage, with the annual National Cowboy Poetry Gathering being a particularly unique highlight.
North Las Vegas, a separate city from its more famous southern neighbor, is home to the College of Southern Nevada’s North Las Vegas campus. This growing college town offers a more manageable and laid-back alternative to living in the heart of Las Vegas, while still affording students easy access to the city’s many amenities and attractions.
Find your next apartment in a Nevada college town
Nevada’s diverse and vibrant college towns provide students with a range of experiences and opportunities that go beyond the classroom. Whether you’re seeking the excitement of Las Vegas, the outdoor adventures of Reno and Incline Village or the suburban tranquility of Henderson, there is a college town in Nevada that is perfect for you.