Public House restaurant to reopen this month in downtown Ferndale

Public House restaurant to reopen this month in downtown Ferndale

A beloved neighborhood bar and brunch spot, Public House in downtown Ferndale is planning to reopen this month after renovations and a change in ownership.

Returning diners will notice a 1,000-square-foot, 82-seat garden patio designed by Ron & Roman, a new menu with traditional pub fare, plant-based and gluten-free items and a second kitchen solely for vegan cooking. 

Public House restaurant to reopen this month in downtown Ferndale

The revamped Public House and Garden is expected to debut Dec. 21. 

Originally opened in 2013, Public House and its neighboring sister restaurant Antihero were sold earlier this year by Working Class Outlaw Group, which oversees Ferndale’s Imperial, to Brian Kramer’s Hometown Restaurant Group, owners of One-Eyed Betty’s and Pop’s for Italian. 

Kramer has been a restaurateur in this block of downtown Ferndale since the 1990s. He also owned Rosie O’Grady’s, which closed in June.

Big Retailers Cater to Home Improvement Pros

Big Retailers Cater to Home Improvement Pros

In a big year for home remodeling, major retailers in the space are one-upping each other to grab more of the professional market, including building new distribution infrastructure catering to pros and keeping store aisles clear for DIY customers looking for a new faucet.

Accelerated by obstinate supply chain slowdowns, the trend is taking hold among the biggest names in home improvement. As Bloomberg reported on Tuesday (Dec. 2), “Contractors’ needs are very different than the average customer’s, and while they make up only 5{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of The Home Depot’s shoppers, they account for 45{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of its $132 billion in annual sales.”

Keeping DIY shoppers from causing in-store delays for more profitable pro customers, The Home Depot is investing in distribution centers focusing on larger orders placed by contractors.

Spotlighting one such new facility in Georgia, Bloomberg noted, “The hub is the centerpiece of Home Depot’s plan to ease the complexity of direct-to-consumer sales — and win market share from both its main rival, Lowe’s Cos., and independent distributors.”

To better grasp evolving pro needs, rival Lowe’s released its first Pro Pulse Survey in November.

According to that survey of home remodeling pros, “There is an increased demand for professional help with home improvement projects, with 80 percent of survey respondents saying now more than ever there is a need for home improvement professionals.”

Respondents averaged “nearly 11 projects per month in 2021 and expect that to increase by 45 percent in 2022.”

With that kind of activity, large orders are taking up loads of space inside chain locations, leading to the logistical leap of building freestanding distribution centers.

Ace Hardware is in on the action too. As PYMNTS recently reported, “Ace Hardware announced it will open a 1 million-square-foot retail support center in Visalia, Calif.,” with Corporate VP of Marketing Jeff Gooding saying the chain “continuously evaluates distribution capabilities to ensure we meet our growing business demands and offer the best support and service to Ace retailers and our wholesale customers.”

See also: Lowe’s, Home Depot Court Big-Spending Pro Contractors As DIY Takes A Breather

Home Improvements to Hit $400B by Q3 2022

Distribution centers for home contractors look to remain in high demand as the remodeling renaissance kicked off by COVID is expected to keep growing in the foreseeable future.

In a recent blog, Abbe Will, senior research associate and associate project director, remodeling futures at the Joint Center for Housing Studies of Harvard University, said, “annual improvement and repair expenditures by homeowners could reach $400 billion by the third quarter of 2022,” adding that “several headwinds … could still taper the expected growth in remodeling spending including the rising costs of labor and building materials, as well as increasing interest rates.” 

As remodeling retailers reimagine fulfillment for professionals, last-mile logistics will be part of that discussion, because loads of lumber, copper piping and drywall don’t move themselves.

Showing that boom times make strange bedfellows, industry news site Modern Retail reported in October that The Home Depot is the first customer of Walmart GoLocal, a delivery-as-a-service offering that caters to professional customers, wholesalers and other retailers.

Walmart U.S. president and CEO John Furner said, “We’re honored to work with The Home Depot in our shared goal of making fast and reliable local delivery available in every community we serve, including rural and suburban areas, where we both have a strong retail presence.”

See also: AI, Predictive Analytics Allow Contractors to ‘Know Your Home Better Than You’

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NEW PYMNTS DATA: THE 2021 HOLIDAY SHOPPING OUTLOOK

About: It’s almost go time for the holiday shopping season, and nearly 90{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of U.S. consumers plan to make at least some of their purchases online — 13{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} more than did in 2020. The 2021 Holiday Shopping Outlook, PYMNTS surveyed more than 3,600 consumers to learn what is driving online sales this holiday season and the impact of product availability and personalized rewards on merchant preference.

The Alexanders Are Now Selling Metaverse Real Estate

The Alexanders Are Now Selling Metaverse Real Estate

Now selling luxury real estate in the metaverse.
Photo: Scott Roth/Invision/AP/Shutterstock

Tal and Oren Alexander, the brothers who became famous for closing megadeals in their early 20s then moved onto the biggest deals ever in their early 30s — they represented Ken Griffin when he bought that record-setting $238 million penthouse at 220 Central Park South in 2019 — recently announced that they’ll be developing and selling luxury real estate in the metaverse. That is, in virtual reality. It’s all imaginary construction; it can’t be lived in but exists only to be bought and sold and conspicuously consumed. Which sounds about right.

Like others in the moneyed Miami set, Oren already invests in crypto, and the brothers and everyone else with money and/or hustle seem to be trying to get rich(er) off NFTs and the metaverse right now. Mark Zuckerberg is falling all over himself to get in on and/or control every piece of metaverse action. And people are spending real money, or at least “real” “money,” to buy virtual yachts. Presumably, they will also spend upward of half a million dollars to own virtual mansions?

The Alexanders certainly seem to think so. The brothers have formed a partnership with Republic Realm, a metaverse developer that recently paid $4.3 million for virtual property in the Sandbox, one of the more popular metaverses. (It also owns a 259-parcel virtual estate in Decentraland that it bought for about $900,000.) “We want to just focus on trophy properties in the various metaverses,” Alexander told the Real Deal. This will take the form, according to Republic Realm, of an “architecturally significant master-planned community.” Which sounds a little (or very?) depressing.

Real estate has always been about status and shelter, skewing increasingly toward the former as one moves up the economic ladder. Speculators like Republic Realm and the Alexanders are banking (literally) on the fact that you can take the shelter piece out of the real-estate equation altogether, leaving just speculation and status. And the brothers, who have always made a point of living as their high-flying clients like Kanye West and Tommy Hilfiger do (a recent Instagram post shows Oren holding up a man-size tuna he spear-hunted in French Polynesia), seem to have a good read on the buzzy elite. “Oren and Tal have a knack for being at the right event during Art Basel, at the right camp at Burning Man, and at the right party at the Oscars,” Jay Parker, chief executive of Douglas Elliman’s Florida brokerage, once told the L.A. Times.

It’s also unclear what, if any, actual money the Alexanders are putting down to develop virtual properties with Republic Realm. So why not? It may all be a bubble of course, but people can make a lot of money off of bubbles before they burst. And while many have looked to the dream of the metaverse for its utopian potential over the years, the way things have gone with the internet has tamped down that idealism in favor of more practical considerations, like not letting Facebook, or Meta as it’s now called, control everything. The rosier visions generally involve people owning their own avatars and content such as, say, NFTs. “The thing I really care about is that you as an individual own objects. Property ownership is a tool. It works. It brings financial incentives,” Kayvon Tehranian, the founder of a marketplace for NFTs, told the New York Times earlier this year. That wasn’t dystopian, he maintained, just realistic. “We’re still talking about human nature, which is greedy and selfish.”

Icebreakers with…Million Dollar Listing’s James Harris

Icebreakers with…Million Dollar Listing’s James Harris

James Harris sells some of Los Angeles’s most expensive homes while starring in the reality TV series, Million Dollar Listing, and prepping for the release of his upcoming real estate newsletter, The Blueprint.

For him, “The real estate comes first, the show comes second,” so we got on the phone and chatted about the real estate market, industry trends, and the bloody (he’s British btw) unbelievable amenities high net worth clients request for their not-so-humble abodes.

How is the real estate market looking?

It is absolutely fantastic. It’s been the strongest year and a half of real estate I’ve ever seen. The market right now is fueled by interest rates being as low as they are—debt is unbelievably cheap to borrow from the bank. On top of that, the home has always been the sanctuary. But when Covid hit, the home really became the sanctuary, creating a bull market. And that’s not just in California. That’s across America and really even across the world.

What are the biggest trends you’re seeing in luxury real estate lately?

Wellness. It used to be, “Oh, we’ll just put in a sauna or a steam room and we’ll be done.” Now it’s like a cold plunge, a sauna, a steam…I saw a house recently that had a bloody surgery room in it.

What’s the most requested amenity among high net worth clients?

I don’t want to repeat myself, but it is wellness right now. People also love the idea of two kitchens: Having your display kitchen that’s galleried in the main living area, and then having a chef’s kitchen, which is separated from the main area of the home so that you don’t have to make a big mess in your house and you can keep it tucked away from everything else.

In the LA luxury market, what are the biggest deal breakers for your clients?

If you can believe it, no elevator. Also, not having privacy. Everybody wants privacy.

What is the next up-and-coming real estate market besides Austin?

Well, everyone’s saying Austin right now. But also, all the secondary markets have gone through the roof: Nantucket, Palm Springs, Santa Barbara, any secondary market right now is booming.

Do you have a go-to celebration when you close a big deal?

I don’t have a go-to celebration, but I do love to go away for the weekend with my family. And I love to just enjoy time by the beach and actually enjoy the win because a lot of people don’t actually enjoy the win. They just go, go, go. And that’s what I did for many, many years.

This interview has been edited and condensed for clarity.

Five Questions To Ask Before Committing To An Investment Property

Five Questions To Ask Before Committing To An Investment Property

Dave Friedman is Co-Founder and CEO of Knox Financial, the smart and frictionless way to turn a home into an investment property. 

When people think about personal finance, topics related to spending, saving and investing often come to mind. A less-considered topic is how personal finances come into play when you’re considering buying an investment property. 

Whether you’re moving and plan to turn your old house into an investment property or you’re about to purchase your first investment property, here are five personal finance questions you should ask yourself:

1. What personal financial goals are tied to this property?

If you’re about to commit to an investment property, it’s critical to ask yourself what personal finance goal you hope the property will help you achieve. Your answer to this question will determine what type of property you should buy.

For instance, let’s say you have a short-term personal finance goal, like saving for a big expense that’s coming up in a year or two. In this case, you should do a back-of-hand calculation to make sure any property you purchase will help you generate the revenue you’re seeking. You’ll likely want to carry a lower mortgage and choose a property in an area where the rental market is strong enough to get a tenant within a few months of purchasing.

In contrast, if you’re looking at your property as a long-term investment that you don’t plan to touch for 15 or more years, you could consider buying a more expensive property with a bigger mortgage, confident that the value of the property will appreciate significantly in the decades to come.

2. How will I pay for the down payment? 

Once you decide on the personal finance goals related to your investment property and find a property that matches these goals, the next step is coming up with the funds for a down payment. Here, you’ll have a few options:

• You can use money you already have that’s liquid, like cash or stocks.

• If you’re a homeowner, you can consider doing a cash-out refinance of your home or taking out a home equity loan.

• If you’re turning the home you’re moving out of into an investment property, you can consider a refinance that helps you afford the down payment on your new home while holding on to your old home as an investment.

3. How much should I pay for the down payment?

If you want to start generating cash flow from your property as quickly as possible, you’ll want to lower your mortgage as much as possible. In this scenario, consider making a bigger down payment.

However, it’s important to keep in mind that mortgage interest rates remain near record lows. So if your personal finance goal is to build as much wealth as possible through your investment property in the long term, you could consider a minimum down payment. If you have a fixed amount of money saved for the down payment, you could use part of that money for the down payment and put the remainder into assets that have the potential to generate more interest.

4. Will I have a big enough emergency fund after buying the investment property?

Whatever you do, don’t completely deplete your savings to buy an investment property. I strongly recommend having three to six months’ worth of expenses on hand in case of an emergency. However, if you have more than six months’ worth of emergency funds already saved, you could responsibly use a portion of those emergency funds for the down payment of your new home.

5. How will I pay for everything that comes with owning an investment property?

When you become an investment property owner, do you plan to do all the work associated with the property or will you get help with some of it? 

Here are a few considerations when making this decision:

First, make a list of everything that has to be done for an investment property — marketing the property, communicating with tenants, maintenance, insurance and accounting, to name a few. Then estimate how much each of these items will cost you per year. 

Second, determine the opportunity cost of you spending time on your investment property. For instance, if you have to spend a day dealing with maintenance or showing the unit to a new tenant, does that mean you won’t get paid for that day?

Third, compare how much it will cost you to hire help with how much it could potentially make you. For instance, if you work with an experienced realtor to price and lease your property, they will charge you for their services, but they might lease the property for more money than you would have been able to get.

If you consider these five questions as you debate becoming an investment property owner, you’ll be well on your way to ensuring that your investment aligns with your personal finance goals.

The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

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Inspired by family, Costa Mesa Realtor re-creates citywide holiday contest from 1960s

Inspired by family, Costa Mesa Realtor re-creates citywide holiday contest from 1960s

Kendra Fisher was clearing out the garage of her grandparents’ Costa Mesa home during the pandemic, when she discovered a box of trophies and Daily Pilot newspaper clippings that shed light on a lesser-known part of her family history.

From 1959 well into the ’60s, John and Rosalie O’Brien were recognized as the winners of a citywide holiday decoration competition, even nabbing top prizes in an “Inter-city Yule Contest,” for large-scale displays that would have families lining up around the block just to get a glimpse.

“My grandpa was super creative — they built a train set and a huge rocket — people knew he was going to do something special, so they looked forward to going to their house,” Fisher said.

The O'Brien family at their Molokai Place home in Costa Mesa, known for larger-than-life holiday displays in the 1960s.

The O’Brien family at their Molokai Place home in Costa Mesa, known for larger-than-life holiday displays in the 1960s.

(Courtesy of Kendra Fisher)

“I knew about it vaguely but didn’t realize the extent of it until I was cleaning out their garage,” she continued. “Then, I was like, wait, why don’t we do that now?”

A new member of the Torelli Realty team, Fisher decided to try and resurrect the contest by creating a brand-new holiday decoration competition in Costa Mesa.

“I feel like there’s this sense of tradition behind it, and tradition is so important in cities, neighborhoods and towns,” she said of her inspiration. “It’s an easy way to bring the community together.”

To help pull off the feat, Fisher enlisted the help from local business owners, including Ally Garvin, who owns Neat Coffee on Pomona Avenue. Together, the pair have been passing out fliers to let people know about the contest.

Kendra Fisher, right, with grandparents John and Rosalie O'Brien, of Costa Mesa.

Kendra Fisher, right, with grandparents John and Rosalie O’Brien, of Costa Mesa. Fisher was inspired to host a holiday home decoration contest after finding old trophies in the O’Brien’s garage from a similar competition in the ’60s.

(Courtesy of Kendra Fisher)

Families and individuals, or even entire streets, can enter the competition. But to cast an even wider net, judges have committed to driving through the streets of Costa Mesa on Friday, Dec. 10, in search of stunning holiday displays.

Individual trophies for Best Theme, Most Creative and Best Overall displays will be handed out Dec. 11 in a special ceremony and movie night with hot cocoa and refreshments at Neat Coffee. Winners will be announced at 6 p.m., and the movie will start at 7 p.m.

Garvin said she hopes to help Fisher create a new way for people from the local community to come together and celebrate.

“It sounded like a real fun to create a new tradition and make it feel a little bit more like a hometown,” she added. “A lot of people already decorate their homes for Christmas, and it brings so much joy to the neighborhood.”

In an interview Thursday, John O’Brien said he had no doubts his granddaughter would be successful in her attempt to resurrect, in some manner, the competitions of yore.

“She’s unique — she goes full speed ahead in everything she does,” he said.

A Daily Pilot clipping shows the O'Brien family of Costa Mesa receiving an award in an Inter-City Yule Contest in 1961.

A Daily Pilot clipping shows the O’Brien family of Costa Mesa receiving an award in an Inter-City Yule Contest in 1961 for the best holiday home display.

(Courtesy of Kendra Fisher)

He recalled the very first year he and his wife entered the citywide contest in 1959, having moved to a house on Costa Mesa’s Molokai Place from Glendale. He worked on the yard while Rosalie decorated the door and sewed clothes for the elves in the display.

Little did they know that decision would snowball into local fame.

“We saw an advertisement for it in the paper, so we got going on it and had really good success with it for a few years. It became like a tradition to enter,” O’Brien said, recalling the time he built a huge train in the yard.

“It had an engine and an open boxcar that had presents and toys coming out of it,” he said. “The locomotive had a smokestack with steam coming out of it and wheels turning. It brought joy to a lot of people.”

As for Costa Mesa homeowner Alli Talley, she, her husband, Bobby, and 1-year-old son, Jude, are all in. They’ve decorated their 19th Street home with lights and inflatables — all the things as a young married couple they sweared they’d never do.

“We’re just embracing it all. It’s so fun,” she said Friday. “I don’t think we’ll win any awards with what we have, but we’ll totally be in it.”

Those interested in entering the holiday decoration competition can call Fisher directly at (714) 606-3376 or email Kendra@torellirealty.com. Participants can also sign up at Neat Coffee, 1922 Pomona Ave., in Costa Mesa, from 7 a.m. to 4 p.m.

Bobby Talley, and his son, Jude, with an inflatable Frosty the Snowman at their house in Costa Mesa on Friday, Dec. 3.

Bobby Talley, and his son, Jude, with an inflatable Frosty the Snowman at their house in Costa Mesa on Friday, Dec. 3.

(Scott Smeltzer / Staff Photographer)

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