Top Factors to Keep in Mind

Top Factors to Keep in Mind

Top Factors to Keep in Mind

Real estate investing can be a great way to generate income and build wealth. However, as with any type of investment, there are certain factors you should take into consideration before diving in headfirst. From choosing the right location and property type to keeping up with maintenance requests and tenant screening services, there’s a lot to keep in mind when considering real estate investing. In this blog post, we’ll discuss a few of the most important factors.

Rental Income

Investment properties that generate rental income can be a great way to earn passive income. The amount of rental income you can earn will depend on the location and type of property, as well as the rental market in the area. It is important to do your research to ensure that you are charging a competitive rent amount by finding tenants that are looking for apartments for rent. This will give you a good idea of what you can expect to make if you decide to invest in a particular property.

Location

One of the most important factors to consider when investing in real estate is location. When assessing a potential investment property, be sure to consider the surrounding area. The location of a property will determine its value, as well as the demand for it. Properties in prime locations will always be in high demand and will command higher prices.

Is it a desirable neighborhood? Are there good schools in the area? What is the crime rate like? Answers to questions like these will give you a good idea of whether or not a particular property is worth investing in.

Property Type

Another important factor to consider is the type of property you are interested in investing in. There are a variety of different property types, each with its own set of benefits and risks. Some popular types of investment properties include single-family homes, multi-family homes, apartments, office buildings, retail stores, and warehouses.

Condition of the Property

Another important factor to consider is the condition of the property itself. Obviously, you’ll want to steer clear of properties that require significant repairs or renovations. Not only will this eat into your profits, but it could also cause delays in getting the property rented or sold. Before making an offer on a property, be sure to have it inspected by a qualified professional to get an accurate assessment of any necessary repairs or renovations.

Appreciation Potential

Another factor to consider is the appreciation potential of a property. This refers to the likelihood that the value of a property will increase over time. Properties in prime locations with high demand are more likely to appreciate than those in less desirable locations.

Rental Rates

Another factor that should be considered when investing in real estate is the current rental rates in the area. Rental rates can fluctuate depending on a number of factors, including the local economy, job market, and housing market. It is important to research current rental rates before making an investment so you can be sure you are charging a competitive rate.

Expenses

It is also important to be aware of the expenses associated with owning an investment property. These expenses can include mortgage payments, insurance, taxes, and utilities. It is important to have a clear understanding of all of the expenses before making an investment so that you can make an informed decision.

Maintenance Costs

When investing in real estate, it is also important to factor in the costs of maintenance and repairs. Properties will inevitably require some work over time, whether it be painting, repairs, or landscaping. These costs can add up over time, so it is important to factor them into your overall investment strategy.

Financing Options

The financing options available for an investment property will also play a role in your decision-making process. There are a variety of different financing options available, including traditional mortgages, home equity loans, and private loans. It is important to compare interest rates and terms before selecting a loan option.

Tax Benefits

Investing in real estate can also offer some tax benefits. For example, you may be able to deduct mortgage interest payments from your taxable income. Additionally, you may be able to take advantage of depreciation deductions if you own an income-producing property, such as an apartment building or office complex.

Conclusion

These are just a few of the many factors you should take into consideration before investing in real estate. Carefully assess all aspects of any potential investment property before signing on the dotted line. With careful consideration and due diligence, real estate investing can be a great way to generate income and build wealth over time.

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Best of Dayton 2022 winners: Home Improvement

Best of Dayton 2022 winners: Home Improvement

Best Bathroom Remodeler

First place: ImproveIt Home Remodeling

7200 Poe Ave., Suite 102, Dayton

Second place: JEM Designs

3979 Indian Ripple Rd., Dayton

Third place: Zengel Group Building & Remodeling

85 Compark Rd., Dayton

Best Building Contractor

First place: JEM Designs

3979 Indian Ripple Rd., Dayton

Second place: Zengel Group Building & Remodeling

85 Compark Rd., Dayton

Third place: Greater Dayton Construction Group

4197 Research Blvd., Beavercreek

Best Carpet Cleaner

First place: Stanley Steemer

824 Space Dr., Beavercreek

Second place: Triton Steam Cleaning

7942 OH-48, Waynesville

Third place: Transformations Plus

92 Compark Rd., Suite 2, Centerville

Best Commercial/Residential Landscaper

First place: Siebenthaler’s

Multiple area locations

Second place: Grunder Landscaping Co.

1900 Old Byers Rd., Miamisburg

Third place: Berns Garden Center & Landscaping

3776 Indian Ripple Rd., Beavercreek

Best Commercial/Residential Paving Company

First place: Vandalia Blacktop & Sealcoating

6740 Webster St., Dayton

Second place: Houser Asphalt & Concrete

851 S. Patterson Blvd., Dayton

Third place: A to Z Asphalt Contractors

2545 Ashcraft Rd., Dayton

Best Door & Window Replacement

First place: Dayton Door Sales

1112 Springfield St., Dayton

Second place: ImproveIt Home Remodeling

7200 Poe Ave., Suite 102, Dayton

Third place: Affordable Glass & Mirror

7210 Chambersburg Rd., Huber Heights

Best Garage Builder

First place: Greater Dayton Construction Group

4197 Research Blvd., Beavercreek

Second place: Dayton Sheds

7580 Brandt Pike, Huber Heights

Third place: W.E. Bilbrey General Contractor

212 Brandt St., Dayton

Best Garage Door Company

First place: Dayton Door Sales

1112 Springfield St., Dayton

Second place: McLaughlin’s Door Sales

mclaughlinsdoorsales.com

Third place: Kettering Overhead Door

4155 Hempstead Station Dr., Kettering

Best Insulation Services

First place: Liberty Insulation Co.

6350 Shull Road, Dayton

Second place: Chuck’s Handyman & Insulation Services

Third place: Pro-Safe Insulation

3876 Indian Ripple Rd., Beavercreek

Best Interior Designer

First place: Centerville Design Associates

205 N. Main St., Centerville

Second place: Tiffany Chambers Design

tiffanychambersdesign.com

Third place: Roseberry Allen

5573 Far Hills Avenue., Washington Twp.

Best Landscaper/Nursery/Garden Center

First place: Knollwood Garden Center and Landscaping

3766 Dayton Xenia Rd., Beavercreek

Second place: North Dayton Garden Center & Nursery

1309 Brandt Pike, Dayton

Third place: Siebenthaler’s Garden Center

Multiple area locations

Best Pest Control

First place: A-1 Able Pest Doctors

1320 N. Keowee St., Dayton

Second place: Buckeye EcoCare

Multiple area locations

Third place: Brown Pest Control

4012 N. Main St., Dayton

Best Place to Buy Cabinets

First place: JEM Designs

3979 Indian Ripple Rd., Dayton

Second place: Requarth Co.

447 E. Monument Ave., Dayton

Third place: Menards

Multiple area locations

Best Place to Buy Fireplace & Accessories

First place: Dayton Fireplace Systems

1700 Yanks Court, Centerville

Second place: Watson’s of Dayton

2590 E. Whipp Rd., Washington Twp.

Third place: Buck Stove & Fireplace

buckstove.com

Best Place to Buy Flooring

First place: Bockrath Flooring & Rugs

5557 Far Hills Ave., Centerville

Second place: Menards

Multiple area locations

Third place: Johnson’s Flooring Center

6875 Salem Ave., Clayton

Best Place to Buy Heating & Air Conditioning

First place: Logan A/C & Heat Services

9181A N. Dixie Dr., Dayton

Second place: McAfee Heating & Air Conditioning Co.

4750 Hempstead Station Dr., Kettering

Third place: Deer Heating and Cooling

351 N. Broad St., Fairborn

Best Place to Buy Lawn & Garden Equipment

First place: Lowe’s Home Improvement

Multiple area locations

Second place: Heil Brothers

2218 Wilmington Pike, Kettering

Third place: Doug’s Lawnmowers

4066 Farrington Rd., Covington

Best Place to Buy Paint

First place: Sherwin-Williams Paint Store

Multiple area locations

Second place: Lowe’s Home Improvement

Multiple area locations

Third place: The Home Depot

Multiple area locations

Best Place to Buy Pools & Spas

First place: Knickerbocker Pools & Spas

Multiple area locations

Second place: Watson’s of Dayton

2590 E. Whipp Rd., Centerville

Third place: Buckeye Pools

671 Miamisburg Centerville Rd., Centerville

Best Place to Buy Windows

First place: ImproveIt Home Remodeling

7200 Poe Ave., Suite 102, Dayton

Second place: Affordable Glass & Mirror

7210 Chambersburg Rd., Huber Heights

Third place: Requarth Co.

447 E. Monument Ave., Dayton

Best Plumber

First place: Korrect Plumbing, Heating & Air Conditioning

7967 W. Third St., Dayton

Second place: Stebbins Plumbing & Heating

621 E. Dixie Dr., West Carrollton

Third place: A-Abel Family of Companies

440 Congress Park Dr., Washington Twp.

Best Roofing Company

First place: DryTech Exteriors

3036 Far Hills Ave., Kettering

Second place: Castle Roofing

5005 Nebraska Ave., Dayton

Third place: Scott Bauer Roofing & Siding

3044 Wilmington Pike, Kettering

Joan Didion’s Estate Sale Items Paint a Picture of Her Life

Joan Didion’s Estate Sale Items Paint a Picture of Her Life

Joan Didion, who died last year at 87, famously never used a decorator. The only interior design advice she admitted to taking came from her daughter, Quintana Roo Dunne.

“I hope you California it up,” Quintana told her parents when she saw the New York City apartment they bought in 1988, after 24 years in Los Angeles.

The move happened fast: The West Coast home Ms. Didion shared with her husband, the writer John Gregory Dunne, sold the same day it was listed, and the Upper East Side apartment they bought was the first one they saw. “We felt stale, settled, restless,” the couple said, explaining their move in a 1992 article they co-wrote for HG magazine, once known as House and Garden.

Over the years, they filled their new apartment with furniture, art and other things that had “meaning only for us,” as they put it in that article. Now, hundreds of those items will be available to buy.

On Nov. 16, Stair Galleries in Hudson, N.Y., will host Ms. Didion’s estate sale auction, and an exhibition of selected items will be on display there from Oct. 31 to Nov. 15.

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Quintana Roo Dunne with John Gregory Dunne and Joan Didion in 1976.

“Everything in the sale helps to paint the picture of how she lived in her private space,” said Lisa Thomas, the director of the auction house’s fine arts department.

One of the least expensive lots, Ms. Thomas said, will likely be a collection of blank notebooks estimated to sell for between $100 and $200. The most expensive may be a Richard Diebenkorn lithograph that could go for as much as $70,000. Proceeds from the sale will go toward the Sacramento Historical Society and Parkinson’s research and patient care at Columbia University. (Ms. Didion’s death was the result of complications from Parkinson’s disease.)

Ms. Didion left an impressive legacy that includes dozens of essays, books and screenplays, as well as an instantly recognizable and voguish silhouette: sunglasses on, cigarette in hand. Given the number of people she influenced, both personally and professionally, it is no wonder that the gallery has been inundated with emails and phone calls since the sale was announced last summer.



Blank notebooks. Estimate: $100 – $200



IBM Wheelwriter 5 typewriter. Estimate: $800 – $1,200



Desk articles. Estimate: $500 – $700



Writing ephemera from Ms. Didion’s desk. Estimate: $200 – $400

Some Didion enthusiasts were desperate to acquire even the smallest mementos of her personal life — including a single paper clip, said Ms. Thomas, who offered an explanation: “People feel that they can be close to an icon by owning something that that person lived with.”

For many fans, it seems, buying something — anything — from Ms. Didion’s estate amounts to owning a piece of her life, whether that takes the form of a paperweight, a typewriter, a chair or some other quotidian object. Here are a few of the things that will be up for sale.

‘Wearing Dark Glasses and Avoiding Paparazzi’

In 2015, Ms. Didion modeled for a Celine ad shot by Juergen Teller, much of her face obscured by large, dark sunglasses. Decades earlier, she appeared in a Gap ad with her daughter. While Ms. Didion insisted, not long before she died, that she wasn’t a style icon, many believed otherwise — and the contents of her estate confirm that.

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Joan Didion in sunglasses in 1987.

She sold two pairs of her sunglasses for $2,500 each in 2014, to help finance a documentary about her life directed by her nephew, Griffin Dunne. And yes, those sunglasses were iconic enough that people were willing pay.

The documentary, “Joan Didion: The Center Will Not Hold,” was released by Netflix in 2017. It featured an appearance by Anna Wintour, the editor in chief of Vogue, where Ms. Didion worked early in her career, after winning an essay contest in college. Having recently graduated from the University of California at Berkeley, she moved to New York to take a job at the magazine, which published her influential essay “Self-Respect: Its Source, Its Power.” Later, she revealed in a 2011 essay in the magazine that her affinity for dark glasses could be traced to childhood, when she used to imagine herself as a would-be divorcée in Argentina, “wearing dark glasses and avoiding paparazzi.”



Pair of Celine faux-tortoiseshell sunglasses. Estimate: $400 – $800

Several pairs of her sunglasses will be included in the sale, although only one of them is from Celine.

Ms. Didion’s stylish Corvette Stingray isn’t in the sale, but the photos that made it famous are. Two gelatin silver prints of Julian Wasser’s portraits of the writer posing with her car — effortlessly chic in a long dress and sandals, holding a cigarette — are estimated to sell for $1,500 to $3,000 each.



Julian Wasser’s “Joan Didion with Her Stingray Corvette.” Estimate: $1,500 – $3,000

The portraits were commissioned by Time magazine in 1968, during what Ms. Didion called “kind of a wonderful period of my life actually,” in a 2014 interview about the photo shoot. She didn’t remember much else about the day the photos were taken.

“I don’t know how we decided to include the Corvette,” she said. “It must have been some whim of Julian’s.”

‘Fragments’ of a Domestic Life

Following Christmas in 2003, Mr. Dunne passed away unexpectedly while the couple’s daughter was in a coma. Quintana eventually pulled through, but died in 2005 at 39, a few months before Ms. Didion’s 2005 book, “The Year of Magical Thinking,” was published.

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Ms. Didion reading to Quintana Roo in 1968.

In the book, Ms. Didion wrote about the heartbreak and challenges of that era of her life: “I learned to find equal meaning in the repeated rituals of domestic life. Setting the table. Lighting the candles. Building the fire. Cooking. All those soufflés, all that crème caramel, all those daubes and albóndigas and gumbos. Clean sheets, stacks of clean towels, hurricane lamps for storms, enough water and food to see us through whatever geological event came our way. These fragments I have shored against my ruins, were the words that came to mind then. These fragments mattered to me. I believed in them.”

The hurricane lamps that Ms. Didion wrote about — part of the couple’s effort to “California it up” in their New York apartment — will be included in the sale,as a set of three, a pair and a standalone. They owned dozens of those lamps in Southern California, where they would use them during the frequent power outages caused by Santa Ana winds.



Hurricane lamps. Estimate: $300 – $500 a pair

Mr. Dunne’s death was sudden. As Ms. Didion explains in “The Year of Magical Thinking,” the night before New Year’s Eve, the couple came home from the intensive care unit at Beth Israel Medical Center where they had visited Quintana, who was unconscious after a severe case of pneumonia and septic shock. Ms. Didion built a fire, the couple sat down for dinner, and then Mr. Dunne suffered a fatal coronary attack. (He was sitting at their drop-leaf dining table, which is included in the sale.)



Late Regency ebony inlaid mahogany Pembroke table. Estimate: $1,000 – $1,500

“Life changes fast. Life changes in the instant. You sit down to dinner and life as you know it ends.” These were the first words she wrote after it happened, and the only ones she would write for months.



Chinese export bamboo-and-lacquer side table. Estimate: $200 – $300



American black-painted and gilt-stenciled side chairs. Estimate: $1,200 – $1,800 for eight.



American oak library table. Estimate: $300 – $500



George III-style inlaid mahogany cylinder writing desk. Estimate: $300 – $600

The partners’ desk they owned, estimated to sell for $8,000 to $12,000, was a favorite piece, bought by Ms. Didion’s father at an auction in 1934, for $30. It was in bad shape after surviving a fire, but he refinished it and gave it to the couple when they married. They had the desk refinished again after moving to New York. “It has history and it has attitude, and we like to think the same of the apartment,” they wrote in the HG article.



American oak, walnut and bird’s-eye maple partners’ desk. Estimate: $8,000 – $12,000

An ornate rattan chair that Ms. Didion frequently posed in for photos — and where she used to hold the young Quintana in her lap and read to her — will also be sold at auction.



Victorian-style woven rattan armchair. Estimate: $500 – $700

‘We Tell Ourselves Stories in Order to Live’

Ms. Didion and Mr. Dunne had an extensive personal library — which isn’t surprising given that, as she wrote in her 1979 book “The White Album,” “We tell ourselves stories in order to live.” To hold all those books, they built floor-to-ceiling shelves in the living room, dining room, guest room and offices of their New York apartment. When that wasn’t enough, they built more shelves in their own bedroom.



Ms. Didion’s favorite books. Estimate: $800 – $1,200



Random House unabridged dictionary (lot includes a laminate-veneered faux-wood stand). Estimate: $500 – $700



“Mastering the Art of French Cooking.” Estimate: $200 – $400 for six cookbooks



Books about the Kennedys and Lyndon B. Johnson from Ms. Didion’s Library. Estimate: $200 – $300

While he was making his documentary, Griffin Dunne shared a handwritten list that Ms. Didion had made of 19 books that changed her life. Fifteen of them, from her personal library — including V.S. Naipaul’s “Guerrillas,” Joyce Carol Oates’s “Wonderland” and James Baldwin’s “Notes of a Native Son” — will be included in the auction and are expected to sell, as a set, for $800 to $1,200.

In 1978, when asked which writer had influenced her the most, Ms. Didion told the Paris Review, “I always say Hemingway, because he taught me how sentences worked. When I was fifteen or sixteen I would type out his stories to learn how the sentences worked. I taught myself to type at the same time. A few years ago when I was teaching a course at Berkeley I reread ‘A Farewell to Arms’ and fell right back into those sentences. I mean they’re perfect sentences. Very direct sentences, smooth rivers, clear water over granite, no sinkholes.”

A set of 14 Hemingway books from her collection will be included in the sale.



Ernest Hemingway books from Ms. Didion’s library. Estimate: $400 – $800

George Orwell’s work was also a big influence. In 1946, he wrote an essay called “Why I Write.” Almost three decades later, Ms. Didion gave a lecture at her alma mater, Berkeley, with the same title. “Of course I stole the title for this talk, from George Orwell. One reason I stole it was that I like the sound of the words,” she begins the speech. A lot of seven of his books from her personal collection will be up for sale.

A number of cookbooks will also be sold at auction, including Ms. Didion’s copy of “Mastering the Art of French Cooking” by Julia Child, Louisette Bertholle and Simone Beck.

‘Novels Are Like Paintings, Specifically Watercolors’

Ms. Didion’s fine art collection included works by several blue-chip names — among them Richard Serra, Robert Rauschenberg and Annie Leibovitz — and she clearly felt a kinship with many of the artists whose works she owned. As she told the Paris Review in 2006, “Novels are like paintings, specifically watercolors. Every stroke you put down you have to go with.”

One relationship that stands out was with Ed Ruscha, who has three works included in the sale: two etchings, “Library” and “Book Return,” and a lithograph.

Like Ms. Didion, he is known for capturing the Great American West, and many see their works as intertwined. Some of his pieces are currently on display in “Joan Didion: What She Means,” an exhibition at the Hammer Museum in Los Angeles.

The lithograph up for sale in the auction, “Course of Empire,” depicts 10 of his paintings of industrial Los Angeles, half in black-and-white and half in color. Those paintings were on display at the 2005 Venice Biennale, where Mr. Ruscha represented the United States. Ms. Didion wrote an essay for the catalog, describing his art as “distillations, the thing compressed to its pure essence,” and he gave her the print as a thank you.



Ed Ruscha’s “Course of Empire” and thank-you note addressed to Ms. Didion. Estimate: $6,000 – $9,000



Ms. Didion’s art collection sometimes grew haphazardly, as she and her husband would make decisions on a whim. Once, they went out with the intention of buying a winter coat. Instead, they came back with a Cy Twombly lithograph, which is included in the sale.



Cy Twombly’s “Untitled.” Estimate: $5,000 – $7,000

Billy Al Bengston, who described his relationship with Ms. Didion as “kissin’ cousins,” has two watercolors in the sale, both titled “Honolulu Watercolor.”

Mr. Bengston, 88, recently told The New York Times that he couldn’t remember the objective or the story behind those paintings, but he had no trouble recalling Ms. Didion’s lasting influence on him: “She was so good — about as simple as that. When someone is as good as her, you can’t tell what makes them good.”



Billy Al Bengston’s “Honolulu Watercolor.” Estimate: $5,000 – $7,000

The significance of Hawaii to Ms. Didion, however, isn’t hard to fathom, as she traveled there several times, staying at the Royal Hawaiian Hotel in Honolulu and documenting her experiences in her essay “In the Islands,” included in “The White Album”: “I was not going to Honolulu because I wanted to see life reduced to a short story,” she wrote. “I was going to Honolulu because I wanted to see life expanded to a novel, and I still do.”

A number of the artworks that will be sold have personal inscriptions from the artists, making them all the more covetable.

“To Joan with love,” reads the bottom of a Patti Smith photograph of chocolate bunnies. Another inscription by Ms. Smith reads: “Hermann Hesse Typewriter, for you.”



Patti Smith’s “Hermann Hesse’s Typewriter.” Estimate: $2,000 – $4,000

The two were close friends, and admired each other’s work. Following Ms. Didion’s passing, Ms. Smith, an artist and singer known as the “godmother of punk,” posted a tribute on Instagram, articulating what many felt.

“This is a true writer. Joan Didion. Sunglasses, cigarettes, and a Stingray,” she wrote. “Farewell brave sister, master of pain and ink.”

The Home Depot werewolf is getting howls of approval

The Home Depot werewolf is getting howls of approval

Move over, Tall Bones, and make room for an animatronic, subliminally sexy, 9-foot-tall howler who has marked his territory on America’s front lawns.

Jill Houser’s Halloween display in Pittsburgh features a giant animatronic werewolf.
Jill Houser’s Halloween display in Pittsburgh features a giant animatronic werewolf. (Jeff Swensen for The Washington Post)

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Angela Rush already has the 12-foot Home Depot skeleton, and a whole bunch of regular-size ones, too. She has a nearly full-size hearse carriage drawn by skeleton horses, a massive tarantula, a 12-foot pumpkin-headed “inferno” skeleton, a dragon and numerous light up pumpkins. She has so many Halloween decorations that she has to rent a storage unit, and each year she must hire a moving truck to bring them all to her home. She didn’t need anything else.

“My Halloween decorating has gotten so kind of out of hand that I’m like, I’m not doing it anymore,” says Rush, 51, who lives in Augusta, Ga. She resolved not to be tempted by any other plastic ghouls or goblins. Even if they were on sale.

That was until she found out about the Home Depot’s new 9½-foot animatronic werewolf. “I was like, ‘Hold on. Halloween’s back on.’”

She saw him and she had to buy him: A beefy, sinewy wolfman with massive hands (paws?), glowing eyes and, under his shredded buffalo-check shirt, six-pack abs. Best of all, and unlike his skeletal brethren, he talks and moves: With a growl, he opens his mouth to reveal a row of sharp fangs, tilts his head back and … aroooooooooo!

Rush bought the $399 werewolf on “Orange Friday,” which is what the most dedicated of Halloween decorators call the day Home Depot makes its Halloween decorations available online for purchase. This year, that day was July 15, when normal people are, well, what’s normal anymore?

“I was so excited when I got him that I set him up in my house,” says Rush, which was almost a problem when the werewolf couldn’t fit through the door, and had to be disassembled again. But she loves him. Her teenage son loves him. Everybody loves him, except her two huskies, who regard him with suspicion.

“They just stare at it,” says Rush. “And it’s funny, ’cause they howl like he does.”

Two years ago, Home Depot made a skeleton taller than God and changed Halloween forever. How do you follow that up? Not with a talking skeleton (too predictable) or a taller skeleton (may topple in high winds), but by expanding into an entire multiverse of giant spooky creatures: There is now a witch who appears to fly on a 12-foot broomstick, and a 15-foot phantom. But it’s the werewolf who seems to have become the breakout hit.

“People are used to the skeletons now. They’ve seen all of that. And this is something different,” says Jill Houser, 48, who has an elaborate werewolf campsite complete with a tent and body parts set up in her Pittsburgh front yard.

Jennifer Corcoran, 44, of Nashville, is the moderator of several Facebook groups dedicated to large-scale holiday decorating, including a 50,000-member, 12-foot skeleton group. Rumors began bubbling up that the werewolf would be part of the store’s Halloween lineup, but it was a tightly guarded secret.

Until some photos from a Home Depot conference leaked last spring. Right as Corcoran was at the hospital being prepped to go under anesthesia for back surgery.

“I sent it over to Lance” — that would be Lance Allen, the director at Home Depot responsible for the brand’s pantheon of giants, with who she is now on a first-name basis — “and was like, is this legit?” says Corcoran. It was, he confirmed. A nurse came to take her phone and wheel her into surgery.

“I remember the nurse’s face,” says Corcoran. “I was like, ‘No there’s a werewolf coming! I have to post this.’ ”

“We all were like rabid fiends trying to get it,” says Holly Agouridis, 50, of her fellow Facebook group haunters. “I do kind of a cornfield-type scene on one of my [yard] sections, and I was like, ‘He’s definitely going to go there.’ ” The kids in her Silver Spring neighborhood have named him “Howie the Howler.”

Gregory McAdams, 48, is a big werewolf guy — “I actually just had a werewolf tattoo put on my arm Wednesday” — who counts “The Wolfman” among his favorite movies. So the prospect of a werewolf joining his 12-foot skeleton was pretty thrilling. He posed his in front of his Nashua, N.H., home holding two halves of a (normal-size) skeleton — the head in torso in one paw, the pelvis and legs in another — as if to denote the new hierarchy of Halloween. The werewolf had surpassed what was formerly his favorite decoration. “He’s my number one now,” says McAdams.

Over in Waltham, Mass., Billy Gridley, 47, ordered one online, and then ordered a backup wolf to be shipped to the store, just in case something went wrong.

“It was such a big deal that I was kind of nervous that I wasn’t going to be able to get ahold of one,” he says. But the first one arrived safe and sound, so he canceled his second order.

“We got it all set up and everything worked great, except it had two left hands, he says. “I was like, you have to be kidding me.”

So he made a trek to another Home Depot to pick up what would be his third wolf order, “And lo and behold, that one had two right hands,” says Gridley, now the owner of a complete werewolf (he swapped the hands and returned one).

Other werewolf mishaps did not end quite as harmoniously. Unfortunately for Jim Nelson and his 6-year-old-daughter Evelyn, the werewolf (named “Mr. Howly”) arrived broken, with his jaw detached from his head. Not to worry: “I made a muzzle for him,” says Nelson, 41, of Erie, Pa. “I cut up an old leather belt and then just kind of glued it on his head.”

And not everyone has been so keen. Melissa Hayden, 52, of Pittsboro, N.C., has a neighbor who complained to her homeowners association about her werewolf, whom she loves.

“They said it was too scary” for their grandchildren,” says Nelson, who was flummoxed. She’s one of those people who keep their 12-foot skeleton up all year round, dressing him up in costumes for every holiday, “in my yard 24/7, 365 days a year.” The neighbors had never complained about that.

Werewolves occupy a particular place in the horror genre, says Bryan Fuller, writer and executive producer of numerous television shows, including “Hannibal” and “Pushing Daisies,” and also a proud Home Depot werewolf owner. They’re a metaphor for there being “something inside of me that I can’t control, i.e. my sexuality. If I let it out, bad things will happen,” says Fuller, whose werewolf was a birthday gift from his partner.

Werewolves “can hide who they are, until they can’t. And so the idea of having this giant werewolf in the middle of a queer person’s yard means a little bit more than just a fuzzy monster from a horror movie,” says Fuller, who is also the producer of the documentary series “Queer for Fear: The History of Queer Horror.” “It has all of this kind of sociopolitical resonance that is important to me.”

Part of the reason the werewolf is a hit also may be that it’s an underrated monster. There aren’t that many werewolf movies — “The Wolfman,” “An American Werewolf in Paris” and “Werewolf of London” — and werewolves are often relegated to supporting characters, as in the “Twilight” movies. Or, they’re written for laughs, like the werewolves of “What We Do in the Shadows” (“We’re werewolves, not swearwolves!”), especially when the werewolf’s transformation is a metaphor for puberty: Think “Teen Wolf,” or “Werewolf Bar Mitzvah,” one of the greatest bits in “30 Rock.”

“The horror of losing control of your body and having it be taken over by your bestial self is something so terrifying,” says Fuller, “It comes full circle around to humor.”

But, well, while we’re on the topic of sexuality: The werewolves seem to have attracted an audience beyond Halloween decorators. You know who else loves the werewolf? Furries. For the uninitiated, furries are a subculture of people who are interested in anthropomorphic animal characters, conceptually and, for some, romantically.

When she saw the 9½-foot werewolf, “I was like, wow, this is really hot,” says a 29-year-old who asked to go by the name of her vTube persona, which is Buffpup, a buxom werewolf. The Home Depot wolf has “a nice butt,” she says, and strong, muscular arms. She jokingly calls him her boyfriend, though she does have a real, human boyfriend. Even though Buffpup knows Home Depot would never admit it, she suspects the werewolf may have been designed with furries in mind.

“I think people realize how much money they can make off of furries because they’re a big-spending type of group,” she says.

And it’s not just the furries! Corcoran, the leader of the Halloween Facebook groups, found herself moderating a discussion about the werewolf’s, ahem, physique, under those shredded pants. Turns out, a lot of people wanted to know what he looked like naked. “We talkin’ Ken doll?” asked one group member. “Would it be inappropriate for me to ask if you can send me some nudes of the werewolf?” another asked Corcoran. (For the record: Ken Doll. With plastic bas-relief hair.)

This summer, Troy Sager found himself “really drooling over that werewolf,” but listen, not in that way. Sager, 54, of Arthur, N.D., wanted to add to his collection of spooky decor, which he enhances with a few DIY elements. Sager took a mannequin half-torso, dressed it with pants, used spray foam to simulate entrails, and covered the whole thing in splattered blood, splaying it out at the wolf’s feet.

“It looks like the werewolf kind of had a little meal,” he says. A day-care center down the street allegedly brought the kids by to check out his display, which also includes a 12-foot skeleton and an Inferno, and he didn’t hear any screaming. “I’m sure a lot of them enjoyed it,” he says.

Houser employed similar techniques for her elaborate werewolf campsite. Branded “Camp Carnage,” her talking wolf holds a battered body and a fistful of foam guts. He’s joined by another, smaller, stationary werewolf and a zombie mannequin that Houser covered in fur, emerging from a tent: “He’s transitioning. He’s still a person but turning into a werewolf,” she says.

Meanwhile, in Rantoul, Ill., Nikia Hults, who had gone to every Home Depot within a 2½-hour radius of her home and crossed state lines to get her wolf (“We just call him Wolfie”), enlisted her mother-in-law to sew him a new outfit. She picked out some neon green fabric — “I thought green would kind of set him off and kind of make everything cohesive” — and Wolfie got a brand-new size XXXL shirt.

Other werewolf parents have done creative displays with Three Little Pigs or Little Red Riding Hood themes. Next year, Corcoran thinks even more people will branch out into elaborate werewolf displays: Expect “Thriller” werewolves, Teen Wolves, and, from “30 Rock” fans who want to play to a niche audience, wolves wearing yarmulkes.

Over at Fuller’s house in the Silver Lake neighborhood of Los Angeles, the werewolf is situated in a graveyard scene beyond his driveway. He struggled putting his wolf together. For a while, it was just a pair of disembodied legs, which was both spooky and funny in its own way.

But once he was assembled, Fuller has enjoyed returning home from late nights at work to be greeted by the blinking eyes of Kevin. That’s his werewolf’s name. Most of the time, he’s just a regular dude, says Fuller, except when the moon is full. “There’s something funny about calling a werewolf Kevin.”

Why real estate is plummeting, but not everywhere.

Why real estate is plummeting, but not everywhere.

This article is from Full Stack Economics, a newsletter about the economy, technology, and public policy.

In March 2021, a woman in the D.C. area put her house on the market and got 88 bids—including 76 all-cash offers and 15 from people who hadn’t bothered to visit the property in person.

“The offers just kept coming,” she told CNN at the time. “I’m thinking, ‘This is just out of control.’ ”

That frothy, oozing-over-the-top market has been over for a few months now, and new data suggest that we might be entering a very different type of housing market.

Home prices in the United States fell by 1.1 percent between July and August, according to new data from the Case-Shiller index. That’s by far the biggest monthly decline since the last housing crash hit bottom in 2012.

Another widely used index of housing prices, the Zillow Home Value Index, doesn’t yet show an outright decline. But it shows that home prices have been flat in recent months after two years of strong price appreciation.

A chart showing rising home values since January 2020. They've been declining since this summer.
Full Stack Economics

Experts are becoming increasingly worried that we’re heading for a major housing correction.
A modest decline in home prices would be benign—even welcome, given how expensive housing has gotten in recent years. But a sharp decline in home prices could have some negative effects on the broader economy. Homebuilders might react by dramatically cutting back new home construction, which would not only throw thousands of people out of work but would worsen our long-term housing shortage.

A sharp decline in home prices could also trigger a wave of destabilizing defaults and foreclosures. And some experts think a big decline like that is a real possibility.

“My base case is something like a 10 percent drop in home prices relative to the peak,” said Arpit Gupta, a finance professor at New York University. But he said things could get much worse than that.

“A 30 percent drop in prices would not be super out of the ordinary if you take the level of volatility we’ve had for the last 20 years,” Gupta added. That would put the current housing bust on par with the crash that began in 2006 and triggered the Great Recession. Many experts blame rising mortgage rates. The average rate on a 30-year mortgage soared from 3.5 percent in January to around 7 percent today. These increases have dramatically raised the cost to buy a home.

On one level, the cooling housing market is an intended result of the interest rate hikes the Federal Reserve began back in March. Higher interest rates put downward pressure on the value of all assets, which is supposed to discourage spending and thereby reduce inflation.
What makes things especially tricky for the Fed is that the housing market is much less liquid than other major assets like stocks or bonds. It takes a couple of months for someone to sell their home, and then another month or two for sales to be reflected in national statistics. As a result, home prices tend to have more momentum than other assets. Once prices start to fall, they tend to keep going in the same direction.

This is arguably what happened during the Great Recession: The Fed’s effort to cool the booming housing market with rate hikes between 2004 and 2006 worked a little too well, ultimately producing a housing crash that lasted until 2012.

Most experts don’t think the U.S. financial system is as vulnerable as it was in 2008. But it’s very possible for declining home values to trigger a garden-variety recession.

East vs. West

National averages mask significant variation at the metropolitan level.

Every one of California’s major cities—including Los Angeles, San Diego, and the Bay Area, some of the most expensive real estate markets in the country—has seen dramatic price declines over the last four months. Other Western and Southwestern cities, including Austin, Phoenix, Las Vegas, Portland, and Seattle, have also seen big drops.

At the other extreme, a number of Southern cities—especially in Florida—continued to enjoy substantial home price gains over the last four months. The Northeast and Midwest were somewhere in the middle, with Chicagoland homes losing 0.5 percent over the last four months and homes in the New York area gaining 0.7 percent.

Two lists of the places seeing prices declines and rises. San Jose tops the former list with a drop of 10.6 percent. Miami tops the latter list with a rise of 4.7 percent.
Full Stack Economics

While the regional pattern is clear, it’s not obvious why things are breaking down this way. Experts I talked to offered several possible explanations, but I didn’t find any of them fully convincing.

NYU’s Gupta argued that cities west of the Rockies have a history of housing volatility. The Phoenix and Las Vegas housing markets were famously rocky during the 2008 housing crash, for example. He blames this on a less flexible housing supply in these cities.

Two factors are significant here. First, Eastern cities tend to have older housing stock, which means more opportunity to expand the supply of housing by renovating or replacing older homes. Western cities lack this safety valve, and as a result they tend to see bigger booms when demand is strong, followed by sharper price declines when demand weakens.

The federal government also owns a ton of land in Western states, which limits how far cities can expand outward. Some Western cities also have urban growth boundaries. Again, a rigid housing supply can contribute to greater volatility on both the upside and the downside.
Falling home prices could also be connected to the pandemic and the resulting work-from-home trend. It may not be a coincidence that the three cities with the largest price declines—San Francisco, San Jose, and Austin—are all major centers for the tech industry. Seattle, another tech hub, has also seen a significant decline in home values.

Tech workers seem to have been particularly successful at resisting employer pressure to return to a physical office. Perhaps as tech workers realized they could work remotely indefinitely, they began to doubt whether it made sense to pay a big premium to live physically close to their employers.

Fortune housing reporter Lance Lambert suggested to me another possible tech connection: The falling values of many tech stocks could be reducing the amount of cash sloshing around West Coast housing markets.

There’s an obvious partisan ax someone could grind here: Most of the biggest losers are blue cities in blue states, while the winners are mostly smaller cities in red states. Maybe blue-state policies on COVID, crime, or something else are making those states less attractive places to live.

But I don’t think this withstands close scrutiny. Most obviously, Salt Lake City has seen faster home price declines than most other cities, and Utah isn’t a blue state. Las Vegas and Phoenix are located in swing states. On the flip side, home prices in New York City have held up better than those in Dallas, Houston, or Atlanta.

A YIMBY Housing Correction?

Another intriguing theory comes from the Mercatus Center’s Kevin Erdmann. In a recent post, he described declining property values in California as a “YIMBY housing correction.”

What he means is that the state has become increasingly aggressive about forcing cities to permit housing construction. For example, state law may soon force the wealthy beach town of Santa Monica to accept construction of thousands of new homes over the objections of local elected officials. California has also recently lifted restrictions on accessory dwelling units, eliminated parking mandates near transit stops, allowed duplexes to be built across the state, and much more.

If this blizzard of pro-housing legislation works as intended, California might finally start to address its severe housing shortage by building a bunch of new homes. And Erdmann argues that home prices in California are declining in anticipation of that new supply coming online in the coming months.

While this is a California-specific theory, it could also explain falling prices in neighboring states. For decades, home prices in cities like Phoenix, Las Vegas, and Portland have been buoyed by Californians fleeing that state’s high home prices. If California’s housing situation improves, the flow of housing refugees to neighboring states should slow, reducing upward pressure on home values across the region.

As a fan of pro-housing legislation, I would love for this to be true. But I’m skeptical on two levels. First, I’m still not sure that California has enacted strong enough policies to truly address its massive housing shortage. Second, I’m skeptical that the prospect of future home construction would have such a big impact on today’s home prices—some of these policies were only enacted in the last few months. But I’ll be keeping an eye out for further evidence—and, hopefully, much more housing coming online.

Most likely, a combination of factors explain the different home-price trajectories of West Coast, Northeastern, and Southern metropolitan areas. Patterns will hopefully become more clear as experts get more months of data to work with.

Unfortunately, the Federal Reserve doesn’t have the luxury of waiting for all the data to come in before making decisions, and one of its main jobs is crushing inflation that’s still way too high. The Fed’s Open Market Committee will meet next week to decide how much to raise short-term interest rates to try to fulfill that duty. Their decision could matter a lot for the home you’re trying to sell, the one you’re trying to buy, and the economy no one wants to see careen into the dumps.

Young Buyers Focus on Investment Properties to Build Wealth

Young Buyers Focus on Investment Properties to Build Wealth

A growing amount of youthful grown ups are charting a unique path toward making prosperity as a result of homeownership, prioritizing getting an expenditure house before a major home, in accordance to a new survey by Mynd, a firm that leverages technologies instruments to assist traders acquire, finance and regulate one-family rental qualities.

Forty-a few p.c of people younger than 40 say they are thinking about becoming “rentvestors,” who continue to rent their have home even though shoring up income from an financial investment residence, Mynd’s 2022 Buyer Insights Report exhibits. That compares to just 9{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of toddler boomers and 27{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of Gen Xers who are utilizing the exact same prosperity-setting up technique. Some to start with-time buyers see this as an prospect to make more money and much better afford a life-style in larger sized, extra high-priced markets, the report notes.

“Young folks are discovering that shopping for an financial investment house offers them the best of equally worlds: They can live where ever they want, which includes towns the place they can not yet afford to pay for to obtain, and continue to turn into home owners, which, as we realized in our survey, is still viewed as an significant portion of their American desire,” states Mynd founder and CEO Doug Brien. “Buying an financial commitment assets usually means they can go in which their everyday living, their work and their feeling of purpose usually takes them without the need of getting tied down, and they can even now profit from the diversification, appreciation and tax benefits of authentic estate investing.”

As the economic climate teeters on the brink of economic downturn, diversifying a portfolio might become a bigger priority for future consumers. Brien notes that numerous millennials, who came of age for the duration of the Wonderful Recession in 2008, viewed their moms and dads and other folks confront wonderful economic loss simply because they were overleveraged on their home loans. “This cohort is also extra skeptical of the stock and bonds market place,” Brien states.

But young grown ups look optimistic about real estate’s long-time period likely. Brien suggests he thinks quite a few of the younger folks getting financial commitment houses do not necessarily see it as a move toward buying a key home but as an investment decision that will dwell alongside their home one day.

The Distant Investor

Distant investing is one more pattern aiding far more very first-time investors get the leap. A lot more than 50 {d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of the qualities Mynd manages are owned by out-of-state traders. The business has predicted that number to mature as technologies makes it less difficult to get and manage financial investment homes from afar. That doesn’t seem to be a frightening considered to people: Seventy-two per cent of the extra than 1,000 survey respondents say they’d take into consideration shopping for an investment residence in a distinctive town or state than wherever they live.

“For many years, the serious estate expenditure course was seen as way too complicated and scary for quite a few consumers,” Brien claims. “Fast forward to currently: Individuals now have entry to a slew of applications and platforms that demystify the real estate financial commitment system.” He included that Mynd’s mission has been to support encourage a new crop of investors “who have been formerly as well intimidated by serious estate or had been constrained to investments inside commuting distance.”

Tech residence administration firms have been introducing applications to assistance amateur and skilled traders alike locate, finance, buy and handle properties remotely.

As recession fears mount, solitary-loved ones rental investments could increase into an even far more interesting asset course, Brien says. “As inflation rises, rents are certain to increase, which increases possible cashflow for residence owners.”

20-8 {d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of study respondents say they’re taking into consideration buying an financial investment property now, regardless of the present financial weather. “As the Federal Reserve increases curiosity prices in an effort and hard work to tamp down inflation, that can impression demand for rental houses, as well,” Brien suggests. “If it becomes extra pricey for possible consumers to finance a buy, less will be in a position to afford to pay for it. This will maximize need for single-family members residences and develop additional upward stress on rental price ranges.”

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