Last year, a Zillow survey showed that 36{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of buyers would even purchase a property sight unseen. But despite all the desperate buyers willing to skip the in-person showing, most people still expect to actually see a home first.
During the height of the pandemic, real estate agents across the country discovered that social media platform TikTok was an ideal way to safely show prospective buyers homes. Now, some are saying the video app has revolutionized the way they sell real estate — and it is here to stay.
Madison Sutton is a 25-year-old agent in New York City. She specializes in off-market deals and what she calls “hidden-treasure apartments.” But during the pandemic, she was scraping the barrel for leads because so many people were moving out of the city.
Sutton created her TikTok account, @TheNYCAgent, in early 2020. She had “no expectations for it whatsoever,” citing the pandemic as the catalyst for starting her account. But as soon as she started posting apartment tours on the app, she said interest in her TikTok and her properties spiked.
“There were days I was getting two or four hundred inquiries for one apartment,” she recalled. “What TikTok did, I couldn’t have expected or planned or calculated in my entire lifetime. It’s completely changed my life.”
Sutton said 100{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of her business now comes from TikTok, and her commissions have almost doubled.
Nearly three-quarters of TikTok users spend more than an hour on the app weekly, according to Statista. The endless scroll and use of algorithms keep users coming back for more. It’s this format that Sutton finds an asset. “Where else in New York City could you see 10 apartments in 10 minutes other than TikTok?,” Sutton said.
And while typical house hunters fret over scheduling in-person tours, online-savvy ones can view in-depth videos that Sutton makes with the flick of a finger.
Part of what makes TikTok so useful for real estate agents is the quick-fire video interface and algorithmically curated For You page. Videos that appear on a user’s For You page are collected according to their unique interests, region, search history, and interactions with advertisers. Because TikTok uses such engagement metrics to determine interest in a video, a new content creator does not need a large following or paid promotion for their video to go viral and reach a broad audience.
It took Fort Worth, Texas, realtor Prince Whiting just a week on the platform to get his first hit. Since creating @TheHouseofWhiting in January 2021, he has amassed 2.2 million likes on his videos. The exposure he gets on his content is virtually free, unlike his previous method of paid print advertising.
“I’d say about 90{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of the views are on the For You page and not the people that follow me,” said Whiting. “Everybody has an opportunity to go viral. It’s not because you have a 100 million or a million followers and that check mark to verify.”
Whiting said that unlike other social media platforms, the popularity and consistency of TikTok hashtags like #homesforsale (24.4 million views) and #luxuryrealestate (556 million views) make it easier for him to reach people who are ready to buy.
As with all new social media, there is of course a learning curve. With six years of experience in real estate and zero knowledge of TikTok, Dallas real estate broker Joseph Felling admits it took him a few tries to find his niche on the platform.
Felling said he’s found the most success by showcasing Dallas’ low home prices relative to other major metropolitan areas in the US. More than any other platform, TikTok has allowed him to reach clientele from outside of Texas.
“I think Covid really made people experience what more there is,” said Felling. “It’s so crazy how many California buyers I have had in the past year because they’re able to sell their million-dollar property in California, move to Texas and get a much larger property for $500,000.”
He said he now gets about 75{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of his leads from TikTok, and his sales have nearly quadrupled. As a result, Felling has stopped marketing his properties in print publications.
The future of real estate
The brokers CNN spoke with all joined TikTok within the past two years, and they all believe the app is the future of real estate.
It has certainly garnered a huge following: in September 2021, TikTok hit 1 billion monthly active users.
“We live in such a visual society,” said Felling. “Video is the wave of the future. That’s how you’re going to get people’s attention.”
Sutton also said that a more visual medium allows possible buyers to imagine themselves living in a particular town or city. She often mixes local video content into her feed, showing her favorite restaurants and markets in nearby neighborhoods.
Most of all, realtors can use TikTok to engage their buyers in a conversation. Sutton said she’s created lasting relationships with clients over TikTok who often return to her for the next step of their house hunting journey.
“[TikTok] is creating this relationship that’s much more long-term,” she said. “I may not have had access to these clients, or they may not have been exposed to someone like me.”
According to Sutton, there are no downsides to starting an account. “If you’re a realtor, you should be on TikTok. No questions asked,” she said. “Even if a video performs poorly, it’s not about the performance. If one of those people who sees that video finds their home … I’ve done my job.”
ST. LOUIS – Missouri native Brad Pitt has landed on a list of 10 actors with massive real estate portfolios. He and ex-Angelina Jolie have owned homes in several cities across the globe but does he have any in the Show-Me-State?
Stacker.com reports that some actors have prime real estate across the world but for some actors, real estate is about more than an enviable estate or mega-mansion, it is an investment that marries their love for home and their entrepreneurial spirit. These actors have taken their passion for prime properties and turned it into a serious side hustle.
UpNest.com put together a list using various news, entertainment, and real estate sites. The report says whether they flip or renovate, own in the U.S. or overseas, the actors have made an enviable living outside of their given trade by investing in real estate and have portfolios to back it up.
Brad Pitt
Brad Pitt and Angelina Jolie have owned several properties together including a French chateau, a London estate, and a mansion in New Orleans according to Upnest. He also reportedly invested in a Las Vegas casino with George Clooney and Rande Gerber, Cindy Crawford’s husband. The casino never happened but they were able to sell the 25-acre lot to Starwood Hotels for $202 million after purchasing the land for $90 million.
In April of 2021, velvetropes.com reported Pitt has a real estate portfolio of more than $100M. The site reported his primary home is in the Los Feliz neighborhood of Los Angeles. The home is 5,338 square feet and has a giant main house and at least four smaller properties that have been added over the years.
Velvetropes.com also says he has a home in Hollywood Hills. It is more of a contemporary retreat. The home has hidden shelves and niches are built into many of the walls with the intention of keeping each room free of clutter.
Pitt also has a French estate known a “Chateau Miraval”. He and Jolie leased it in 2008 before buying it in 2011. The couple got married at the estate’s chapel in 2014. When the pair split there was apparently a big battle over who would get to keep it. They ended up sharing it.
Pitt and Jolie owned a home in New Orleans together but they sold it after their divorce and were able to make $1.4M off of it. The home was built in the 1830s and featured traditional brick and a balcony that overlooked the city.
LOS ANGELES, CALIFORNIA – JANUARY 19: (EXCLUSIVE COVERAGE) Brad Pitt and Jennifer Aniston attend the 26th Annual Screen Actors Guild Awards at The Shrine Auditorium on January 19, 2020 in Los Angeles, California. 721313 (Photo by Emma McIntyre/Getty Images for Turner)
Pitt and ex-Jennifer Aniston also co-owned a Beverly Hills home from 2001 to 2006 says velvetropes.com. The couple apparently spent three years renovating the property but only lived there for two years before splitting up. The additions they added include a tennis court, guest house, and a dining room for 20.
There is also a rumored house in the Lake of the Ozarks. Velvetropes.com reports he has long been rumored to have built a colossal mansion in the Ozarks but it is not clear who it belongs to. It is known as “Pensmore” and construction began in 2011. It is considered one of the biggest residential homes in the country. It was apparently bought in an extremely rural area between Springfield and Branson. However, public records do not connect Pitt to the home.
There were also rumors of Pitt building a home for Jennifer Aniston in April of 2020. BTonline.com reported Woman’s Day reported that a source says it has been a longtime dream of Brad’s to build a lake house in the Ozarks near his parents’ house. However, the publication reported the source said he is not building a home for Jen in Missouri.
Leonardo DiCaprio
(Photo by Gisela Schober/Getty Images)
The Oscar-winning actor is also a real estate giant with a diversified portfolio. DiCaprio purchased his first home in the late ’90s in the Los Angeles suburb of Silver Lake for $769,500, which he went on to list in 2018 for $1.7 million. The decorated performer also owns properties in New York, California, and abroad in Belize. A landlord of sorts, DiCaprio’s rental, 432 Hermosa located in Palm Springs, is a mid-century modern home previously owned by singer and actress Dinah Shore, with daily rates starting at $3,750 per night with a two-night minimum. One of DiCaprio’s most ambitious real estate endeavors, Blackadore Caye, an island in Belize, was purchased with business partner Jeff Gram in 2005, and the actor plans to turn it into an eco-resort.
Oprah Winfrey
(AP Photo/Michel Euler, File)
The multi-talented actress and media mogul is also a real estate tycoon who owns several homes. Her main residence, located in Montecito, California, is worth more than $100 million and features several properties on 70 acres. In 2019, Winfrey purchased actor Jeff Bridges’ property, which neighbors her own in Montecito. She owns homes in Maui, Colorado, and Washington state. According to Celebrity Net Worth, Winfrey’s real estate holdings are worth an estimated $200 million.
Arnold Schwarzenegger
The “Terminator” star made a bold real estate investment early on in his career when he purchased a multi-unit apartment building. Turning to real estate in the ’70s allowed Schwarzenegger to focus on his acting career and brought him his first million. The former governor of California still owns many of the commercial real estate properties that he purchased on Main Street in Santa Monica just after heavyweight real estate investor Albert Ehringer showed him the ropes. Today, he owns retail space, apartments, and office buildings. He has an estimated net worth of $400 million.
David Charvet
(Photo by Michael Loccisano/Getty Images)
The actor had success in the ’90s with roles on “Baywatch” and “Melrose Place.” Charvet continued his acting career but became interested in real estate while having a home built in Malibu for his family. In 2007, Charvet co-founded Jones Builders Group, a Los Angeles-based, full-service developer and builder of luxury homes with business partner Nathan Jones. Charvet also purchased several investment properties. The company allowed him the opportunity to develop his own line of homes, known as Charvet Estates.
Ellen DeGeneres
(AP Photo/John Locher, File)
Actor, comedian, and talk show host Ellen DeGeneres flips luxury properties and has acquired quite the real estate portfolio. Some of her most profitable flips include a Montecito, California, an estate she purchased in 2017 for over $7 million and sold for $11 million dollars less than a year later, and a 2014 flip that brought in $15 million. She and her wife, Portia de Rossi, have bought, flipped, and sold more than 20 properties since 2003. DeGeneres’ first flip was a West Hollywood Spanish bungalow. “The first thing I did when I made money was buy a house,” DeGeneres told Architectural Digest. She often buys other celebs’ homes, as she did in 2011 when she purchased Brad Pitt’s Malibu home for $11 million and sold it a year later for a cool $1 million profit.
Jennifer Aniston
FILE: Jennifer Aniston accepts The People’s Icon of 2019 award on stage during the 2019 E! People’s Choice Awards held at the Barker Hangar on November 10, 2019. (Photo by: Alberto Rodriguez/E! Entertainment/NBCU Photo Bank)
In 2018, Jennifer Aniston told Architectural Digest, “If I wasn’t an actress, I’d want to be a designer.” The “Friends” star doesn’t just purchase properties, she leaves her own mark on each one. Her marital home with Brad Pitt in Beverly Hills was purchased for $13.1 million and sold for $28 million with multiple additions to the property, including a screening room, tennis court, and a guest house. Ohana, another one of her Beverly Hills properties, was sold for $36 million, netting the actor a small fortune. Its original purchase price was $13.5 million. Aniston also owns properties in New York City, though she did sell two Manhattan condos for a loss in 2012, proving that real estate definitely has its highs and lows.
Robert De Niro
TODAY — Pictured: Robert De Niro on Wednesday, April 24, 2019 — (Photo by: Nathan Congleton/NBCU Photo Bank/NBCUniversal via Getty Images via Getty Images)
Not only does Robert De Niro own residential properties in New York and London, but the accomplished actor has also invested in commercial properties as well. The industrious businessman is a co-owner of Nobu restaurant, which has locations in Dubai, Los Angeles, New York, Moscow, Monte Carlo, and London. Nobu is not De Niro’s only restaurant venture, as he also owns Tribeca Grill in New York City. De Niro is currently working on the Nobu Beach Inn on the small Caribbean island of Barbuda, which is expected to open in 2023 and feature one- to four-bedroom villas.
Diane Keaton
JIMMY KIMMEL LIVE – “Jimmy Kimmel Live” airs every weeknight at 11:35 p.m. EST and features a diverse lineup of guests that includes celebrities, athletes, musical acts, comedians and human-interest subjects, along with comedy bits and a house band. The guests for Monday, June 12 included Diane Keaton (“AFI Life Achievement Award: A Tribute to Diane Keaton”), Lonzo and LaVar Ball and musical guest Phoenix. (Randy Holmes/Disney General Entertainment Content via Getty Images)
DIANE KEATON
Oscar-winning actress Diane Keaton has an acting career that spans many decades, but she’s also a serious real estate flipper who buys, renovates, and sells homes. Her father, a real estate broker and engineer, was also interested in home renovation, and she may have learned a thing or two from him. Keaton’s homes have often been featured in Architectural Digest, and the actor is known for selling homes to fellow celebrities. Among them being Ryan Murphy, who purchased a Beverly Hills Spanish-Colonial revival from Keaton, and actor Christina Ricci, who purchased the Samuel-Novarro House, a Los Feliz landmark.
Rupert Grint
LONDON, ENGLAND – SEPTEMBER 28: Rupert Grint attends the “Snatch” TV show premiere at BT Tower on September 28, 2017 in London, England. (Photo by Jeff Spicer/Getty Images)
No longer just Harry Potter’s sidekick and best friend Ron Weasley, Rupert Grint is worth millions. The actor has a real estate portfolio worth over $30 million, which can be accredited to his three properties in Hitchin, Luton, and others around England. Following his beloved role in the “Harry Potter” films, the actor hadn’t had the same level of success in the industry, but he’s since developed a knack for purchasing properties in the U.K.
Parts of this story originally appeared on UpNest and was produced and distributed in partnership with Stacker Studio.
As an example, if you have $10,000 in rental income and you’re in the 22{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} tax bracket, you will owe $2,200 in taxes on that rental income.
How to Calculate Rental Income
The IRS describes rental income as “any payment you receive for the use or occupation of the property.” In addition to regular rent payments, rental income includes:
Advance rent payments. This is any amount you receive before the period it covers. For example, if you collect a tenant’s first and last month’s rent upfront, both payments count as income when you receive the money.
Security deposits. If you plan to return a tenant’s security deposit at the end of the lease, it does not count as rental income. However, if you keep some of the deposit to cover damages, for example, that portion is considered income. Security deposits used as a final rent payment are regarded as advance rent.
Lease cancelation payments. If a tenant pays you to cancel a lease, the amount you receive is considered rent and counts as income.
Tenant-paid owner expenses. If a tenant pays any of your expenses, the amount is included in your rental income. Say, for example, that a tenant pays the water and sewage bill for the rental property and deducts the amount from their rent payment. If the tenant isn’t obligated to pay that bill, the amount paid by the tenant counts as rental income.
Property or services received instead of rent. Say your tenant is a painter and offers to paint the property in exchange for two months’ rent. The amount the tenant would have paid for those two months counts as rental income.
Lease with an option to buy. If the rental agreement gives your tenant the option to buy the property, the payments you receive are considered rental income.
Partial interest. If you own part of a rental property, you must report your share of the rental income.
Rental Property Tax Deductions
While rental income is taxed as ordinary income, you can reduce that income—and lower your tax bill—by deducting allowable expenses. As a rental property owner, you can generally deduct your expenses for managing and maintaining the property, including payments you make related to the property for:
Advertising
Auto and travel expenses
Cleaning and maintenance
Homeowners Association (HOA) dues
Insurance
Legal and professional fees
Mortgage interest
Property management
Property taxes
Utilities, pest control, and other services
These deductions are generally taken the same year you spend the money. You can also deduct the cost of buying and improving your rental property, but that works differently. Instead of claiming one big deduction all at once, you recover these costs over time through depreciation.
Rental Property Depreciation
Depreciation is one of the biggest tax perks rental property owners get. It allows you to deduct the costs of buying and improving a rental over its useful life, lowering your taxable income in the process.
Residential rental property placed in service after 1986 is depreciated using the Modified Accelerated Cost Recovery System (MACRS). This accounting method spreads costs over 27.5 years—the length of time the IRS considers the “useful life” of a residential rental property. Commercial properties are depreciated over 39 years.
Which Property Is Depreciable?
Not surprisingly, the IRS has specific rules regarding depreciation. You can depreciate a rental property only if all of the following statements are true:
You own the property. As far as the IRS is concerned, you are the owner even if the property is subject to a debt.
You use the property in your business or as an income-producing activity (e.g., as a rental).
The property has a determinable useful life, meaning it’s something that wears out, decays, gets used up, becomes obsolete, or loses its value from natural causes.
The property is expected to last at least one year.
You can’t depreciate a rental property if you placed it in service and disposed of it (or no longer used it for business) in the same year.
Land is not depreciable because it never gets “used up.” Similarly, you can’t depreciate the costs of clearing, planting, and landscaping as these costs are tied to land, not to buildings.
How to Calculate Depreciation on a Rental Property
Determining how much to depreciate each year isn’t as easy as dividing your purchase price by 27.5. Instead, there are a few basic steps to follow:
Determine the basis of the property. This is the amount you paid (in cash, with a mortgage, or in some other manner) to acquire the property. You can include certain settlement fees and closing costs in the basis.
Separate the cost of land and buildings. Land isn’t depreciable (as noted, it never gets used up), so you can only depreciate the cost of buildings. To determine the value, use either the fair market value of the building and the land when you bought the property or base the number on assessed real estate tax values. For example, assume you buy a rental property for $300,000. The most recent real estate tax assessment values the property at $280,000, of which $252,000 is for the home, and $28,000 is for the land. Therefore, you can allocate 90{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} ($252,000 ÷ $280,000) of the purchase price to the house. The remaining 10{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} ($28,000 ÷ $280,000) represents the land.
Determine your basis in the home. Now that you know the basis in the property (house plus land) and the value of the buildings, you can calculate your basis in the home. Using the above example, your basis would be $270,000 (90{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of $300,000). That’s the amount you can depreciate.
Qualified Business Income Deduction
Property owners can deduct expenses and depreciation, but the tax breaks don’t end there.
Section 199A of the Internal Revenue Code (IRC) provides another tax break called the QBI deduction, which allows pass-through entities to reduce their qualified business income (QBI). While there are income thresholds, eligible taxpayers can deduct up to 20{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of their pass-through business income—including rental income from an investment property. However, keep in mind that QBI only qualifies if you are actively managing your property.
The 14-Day or 10{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} Rule
The tax benefits you’re entitled to depend on how many days the property is rented out each year and how much time you spend in the home. Here are the three main categories:
Rented for 14 days or fewer each year. In this case, you don’t have to report the rental income. The house is considered a personal residence, and you can deduct mortgage interest and property taxes—but you can’t deduct any expenses as rental expenses. When you sell the property, it’s treated as a personal residence, not an investment property.
Rented for more than 15 days and used for fewer than 14 days. Under these conditions, the property is considered a rental property. You report the rental income and deduct certain rental expenses based on the percentage of days the home was rented out.
Used for more than 14 days or 10{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of the total days the home was rented. The property is considered a personal residence in this instance, and you can deduct mortgage interest and property taxes. You can also deduct rental expenses, but only up to the level of rental income.
Taxes When Selling a Rental Property
When you sell a rental property, you may be on the hook for two type of taxes: capital gains and depreciation recapture.
Capital Gains Tax
If you hold a property for more than a year, any profits from the sale are taxed at the long-term capital gains rate. Here’s a look at the capital gains tax brackets for 2022:
Conversely, if you sell after owning for less than a year, the profit is a short-term capital gain, taxed as ordinary income at your marginal tax rate.
Depreciation Recapture Tax
When you sell your rental property, the IRS will remember the depreciation deductions you took—and it will want some of that money back. This is known as depreciation recapture, and it can come as a financial shock to unprepared property owners.
Depreciation recapture applies to the portion of the gain attributable to the depreciation deductions you have already taken. So, for example, if you depreciated $6,000 a year for 10 years, you would owe depreciation recapture tax on $60,000 when you sell.
If you think you can avoid the depreciation recapture tax by not depreciating your rental property, think again. The IRS calculates depreciation recapture based on what you should have depreciated—whether or not you actually did.
The tax is based on your ordinary income tax rate and is capped at 25{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}. You report it on Form 4797, Sale of Business Property.
What is a 1031 Exchange?
A 1031 exchange lets you swap one investment property for another, deferring capital gains and depreciation recapture taxes in the process. The properties being exchanged must be “like-kind,” though that doesn’t mean the properties need to be identical. Instead, properties are like-kind “if they’re of the same nature or character, even if they differ in grade or quality,” according to the IRS. In general, real properties are considered like-kind, whether they’re improved or unimproved.
What Deductions Can I Claim for a Rental Property?
If you own rental property, you can take advantage of several deductions to offset rental income and lower taxes. Broadly, you can deduct qualified rental expenses (e.g., mortgage interest, property taxes, interest, and utilities), operating expenses, repair costs, and depreciation. You may also be able to deduct an additional 20{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of your qualified business income (QBI).
How Do You Report Rental Income?
You report rental property income and expenses on Form 1040, U.S. Individual Income Tax Return or Form 1040-SR, U.S. Tax Return for Seniors, and on Schedule E (Form 1040), Supplemental Income and Loss.
The Bottom Line
Real estate rentals are a popular way for investors to tap the real estate market. As a rental property owner, you have the potential to earn money by collecting rents and through appreciation. While you will owe taxes on the income your rental property generates, you can reduce your income—and therefore your tax burden—by claiming various deductions.
Taxes can have a significant impact on your bottom line. It’s a good idea to work with a qualified tax specialist who can help ensure you understand the rules—and apply them in the most favorable way possible for your situation.
Scott Buchanan is setting up an artificial tree in his home this year, for the first time. He expects it will be safer.
“The fake ones have to go through certain testing,” he said last week. “All lights and electrical stuff are all tested and up to the standard.”
In previous years, Buchanan, a Cortland Fire Department captain, used a potted, living tree for Christmas as a safer alternative.
“But they dry out no matter how much you water,” he said. “Look at forest fires: They’re still alive and they burn.”
Decking the halls and lighting the Christmas tree brightens up homes for the holidays, but also leads to hundreds of house fires every year in the United States, National Fire Protection Association data show.
“Fires involving natural trees outnumber fires involving artificial trees by roughly two to one,” states a 2020 report by the National Fire Protection Association.
But a little precaution — watering trees, monitoring holiday candles, inspecting lights — can prevent many of the fires.
Fresh cut trees
“The fresher cut they are, the more moisture there is and the safer they are,” Buchanan said.
Before you put the tree up, make a fresh cut at the base of a Christmas tree’s trunk so it can stay watered, said Mike Steigerwalt, owner of Balsam Ridge Tree Farm in Cortlandville. Trees use sap to cover any cut, and if not kept in water, the sap will prevent moisture from getting inside the tree.
“Before placing the tree in the stand, cut 2 inches from the base of the trunk,” the National Fire Protection Association recommends. “Make sure the tree is at least three feet away from any heat source, like fireplaces, radiators, candles, heat vents or lights.”
Trees should be watered daily, according to the association.
Keep trees watered and in a cool place away from direct heat, Steigerwalt said. “It should last several weeks through the holiday.”
Candles
“There’s a lot of candles this time of year,” Buchanan said; don’t forget them. Buchanan uses an alarm to remind himself. “Every time I light a candle, I set a timer.”
About 7,400 home fires started with candles every year from 2015 to 2019, reports the fire association.
“These fires caused an average of 90 civilian deaths, 670 civilian injuries and $291 million in direct property damage,” it reports. “Candle fires peak in December and January with 11{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of candle fires in each of these months. Christmas is the peak day for candle fires, with roughly 2.5 times the daily average.”
Lights
Inspect the holiday lights, the fire association suggests.
Lights can wear out over years of use, Buchanan said. Cords shouldn’t run under rugs, where they can wear and fray. Don’t plug too many strings into each other and use a surge protector, especially in older homes with few outlets. Be sure not to use indoor lights outside. Don’t use staples to hang lights, as the metal staple can damage the cord.
“Then they can short circuit or create an arc or spark,” Buchanan said.
“Replace any string of lights with worn or broken cords or loose bulb connections,” the fire association recommends. “Read the manufacturer’s instructions for number of light strands to connect.”
“One in five home decoration fires occurred in December,” the association reports. “The decoration was too close to a heat source such as a candle or equipment in more than two of every five incidents.”
What: The annual legislative breakfast hosted by the Greenville Chamber, featuring an introduction and overview of the legislative agenda for 2022. Program to feature former Congressmen Bob Inglis of South Carolina and Heath Shuler of North Carolina in a discussion about a business leader’s role in political debate.
When: Dec. 10, 7:30-9:30 a.m.
Where: The Westin Poinsett, 120 South Main St., Greenville
Price: $45 for Chamber investors, $65 general admission
What: Event teaching participants about credit, financial management, down payment assistance, home ownership programs and other areas. Lunch is included. Hosted by TRC Housing and Financial Empowerment and Upstate Circle of Friends, which enhances opportunities for at-risk children and their families.
What: A workshop for those interested in buying a home or refinancing that will offer guidance and strategies for navigating the process. Refreshments provided, and attendees will be entered for a raffle valued at $150.
When: Dec. 11, noon
Where: 307 Fairview St., Fountain Inn
Price: Free
More info: Contact hosts Shatoya Cobb and Deanna Surgick on Facebook
Flex Greenville
What: Seminar that helps entrepreneurs learn to gain more clients and scale their businesses to the next level. Part of the Flex Your City business empowerment tour.
What: Holiday celebration to coincide with the monthly meeting of the Upstate Carolina Real Estate Investors Association. Volunteers will be recognized and Golden Ladder Awards will be handed out. Attendees must pre-register to participate. Networking hour with cash bar begins at 6 p.m., with food service starting at 7.
What: Event hosted by One Spartanburg featuring legislative, economic and community forecasts at the local, regional, national and global level to enable attendees to make informed decisions in 2022. Includes a legislative panel, economic outlook and trends impacting Spartanburg into the new year.
When: Jan. 7, 8 a.m.-Noon
Where: Spartanburg Marriott, 299 North Church St.
Price: Check for rates
More info: cteaster@onespartanburg.com
Greenville Remodeling Expo
What: A comprehensive home remodeling expo that can help make your dream home a reality. Experts will be on hand showcasing such areas as cabinetry and countertops, flooring, sunrooms and additions, basement finishing, waterproofing, smart home automation, and energy-efficient windows and exterior products.
When: Jan. 14-16, 2022
Where: Greenville Convention Center, 1 Exposition Drive
What: The largest and most popular home and garden event in South Carolina, with thousands of square feet of exhibits featuring landscape design, lawn and garden equipment, interior design, windows and window treatments, flooring, decking, outdoor living, home entertainment and automation and more.
When: Feb. 18-20, 2022
Where: Greenville Convention Center, 1 Exposition Drive
Price: Adults $8, seniors $6, children 12-under free
What: Speaker and entrepreneur Rene Rodriguez breaks down the science of influence and guides attendees through a three-step process toward becoming a more powerful presenter, communicator and influencer.
When: March 15, 2022
Where: Greenville Country Club, 239 Byrd Blvd., Greenville
If holiday shopping or worrying about the omicron variant kept you distracted this week, you may not have noticed some of the biggest real estate stories in Dallas-Fort Worth.
Developers disclosed their plans for the $750 million Four Seasons Hotel and condominium tower on Dallas’ Turtle Creek.
Designed by award-winning architect Pelli Clarke Pelli, the more than 30-story high-rise will include a glass-lined circular entry court architect Fred Clarke describes as “one of the most spectacular, Instagrammable places anywhere in the world.”
The lecture hall in the new 19-story Granite Park Six office tower under construction on S.H. 121 in Plano.
Up in Plano, developers are dusting off the groundbreaking hard hats and gold shovels to start work on new office projects.
Granite Properties has broken ground on the tallest building yet in its 90-acre, more than 20-year-old Granite Park campus at the southeast corner of the Dallas North Tollway and State Highway 121.
The 19-story Granite Park Six office tower will contain 420,000 square feet of first-class office space and will be ready for occupancy in mid-2023.
The Legacy Union Two office building planned next to Plano’s Shops at Legacy will be 13 stories and is planned by developers Cousins Properties and Lincoln Property Co.
In nearby Legacy business park, Cousins Properties of Atlanta and Dallas’ Lincoln Property Co. are teaming up to build two office towers in their Legacy Union project near the northeast corner of the Dallas North Tollway and Legacy Drive.
The two 13-story buildings will contain about 650,000 square feet of offices and will join an existing building Cousins Properties has on the site.
“We have what is really the last building site in the Shops of Legacy area,” said Lincoln Properties’ Matt Craft.
Not all the office action is in the ‘burbs.
Galderma’s U.S. headquarters is moving to the Trammell Crow Center on Ross Avenue in downtown Dallas.(Stream Realty Partners )
In downtown Dallas, the just-refurbished Trammell Crow Center office tower on Ross Avenue has landed a corporate move.
International dermatology company and skin care products firm Galderma is relocating its U.S. headquarters.
The consumer products and pharmaceutical firm best known for its Cetaphil brand now has its U.S. base in the AllianceTexas development in North Fort Worth.
But Galderma U.S. CEO Diane Gomez-Thinnes said the company wanted a more urban office setting for its 400 headquarters workers. “What better location than a downtown location that allows our people to be inspired by not just the building they are in but their surroundings,” Gomez-Thinnes said.
Vancouver-based City Office REIT Inc. paid $133.5 million — or $773 per square foot — for the Terraces office building in Preston Center. That s one of the highest prices ever paid for a Dallas office building.
Finally, a just-completed office building sale in North Dallas rang the bell for record pricing.
Vancouver-based City Office REIT Inc. paid $133.5 million — or $773 per square foot — for the 12-story Terraces office building in Preston Center.
Less than a handful of Dallas-area office buildings have sold for more than $700 a foot.
“The fully leased building provides cash flow stability with future growth in the center of one of Texas’ wealthiest neighborhoods,” James Farrar, City Office REIT CEO, said in a statement.
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