I shared a list of my favorite books about money once before, but that was over two years ago. I’ve read dozens of books since then (and thumbed through dozens more). Here is a revised list of 25 great books about money.
These are all books that I found entertaining or influential. There are still many “big name” books that I haven’t read, such as “A Random Walk Down Wall Street” and “The Intelligent Investor,” and I’ve left off some perennial favorites such as “The Richest Man in Babylon” and “The Wealthy Barber.”
These books are grouped into sections, roughly following the financial progression of the average person (from debt to financial independence). I’ve linked to the Amazon page for each book, but, as always, I encourage you to borrow the titles that interest you from your public library. If you prefer to read on a device, get to know Overdrive, which allows you to borrow e-books for free.
Debt Reduction
For those in the first stage of personal finance, debt reduction is the most important task. I know from experience that this can seem like a long, lonely battle. But others have fought it before, and have lived to document the process. Here are three books that describe different approaches to winning the fight:
The Total Money Makeover by Dave Ramsey — Ramsey is an anti-credit zealot. He made a $4 million fortune by his mid-twenties, and then lost it to bankruptcy. Now he runs a personal-finance empire. He takes a lot of criticism for his support of the debt snowball, which he describes in detail here, but the thing is, his methods work. If you’re struggling with debt, there’s no better starting place than this book. Ramsey’s advice is permeated with his Christianity, but you can get a lot out of this book even if you’re not religious. [My review.]
Debt is Slavery by Michael Mihalik — Debt is Slavery is a deceptively simple book. It’s short. Its advice seems basic. And it’s self-published, so how good can it be? Well, I think it’s great. In fact, I found myself wishing that I had written it. Mihalik’s advice is spot-on, and he covers a lot of topics that other authors shy away from, such as the effects of advertising, the weight of possessions, and the soul-sucking misery that comes from a bad job. This book may be short, but it’s sweet. Especially great for recent graduates, I think.
How to Get Out of Debt, Stay Out of Debt, and Live Prosperously by Jerrold Mundis — How to Get Out of Debt is built on the principles of Debtors Anonymous, a twelve-step program founded in 1971 to help those who struggle with compulsive debt. Mundis was himself a debtor, and he based this book on his own experience. This isn’t purely theoretical information from the mind of some Wall Street finance whiz who has never struggled; this book contains real tips and real stories from real people. If you’ve tried Dave Ramsey without success, read this. It’s 20 years old, but the information is timeless. [My review.]
Everyday Personal Finance
After you’ve defeated debt, you enter the second stage of personal finance, mastering the everyday habits that allow you to build wealth. The books listed here offer a wide view, discussing many aspects of money. They offer advice about saving, investing, and frugality. They don’t go into much detail about any one subject, but they provide motivation to get started. And that’s what’s most important.
Your Money or Your Life by Dominguez, Robin, and Tilford — A classic, and one of the foundation books for the simplicity movement. The authors play off the concept “time is money” in a very literal sense. They encourage readers to sort out priorities, to cut expenses, and then to seek passive income in pursuit of financial independence. A little New Age-y in spots. An excellent book, and a huge influence on many prominent personal-finance bloggers. I hope to review the new, revised edition of YMoYL soon.
All Your Worth: The Ultimate Lifetime Money Plan by Elizabeth Warren and Amelia Warren Tyagi — I didn’t like All Your Worth when I first read it. The book takes a dim view of frugality and thrift, and it contains some wild assumptions (like 12% stock market returns). But with time, I’ve come to appreciate the strength of All Your Worth, not just for those struggling to shake off debt, but also for those of us who are beginning to build wealth. This book’s balanced money formula is probably the single most important part of my current financial plan. There’s good stuff here, though you may need to filter some of the authors’ rhetoric. [My review.]
I Will Teach You to Be Rich by Ramit Sethi — This book is great, but it’s not for everyone. It’s targeted almost exclusively at young adults. If you’re under 30 and single, and if you make a decent living, this book is perfect. But if you’re 45 and married with two children, and if you struggle to make ends meet, this book is less useful. Plus, Ramit has a strong authorial voice. He’s bold, sarcastic, and even a little sassy. Not everyone likes this. If you’re turned off by his blog (or by his guest posts at Get Rich Slowly), you’ll be turned off by his tone in this book. These caveats aside, I Will Teach You to Be Rich is packed with solid advice, cites its sources, and provides scores of tactical tips for managing money. [My review.]
The Complete Tightwad Gazette by Amy Dacyczyn — “The Tightwad Gazette” was a newsletter published during the early 1990s by Amy Dacyczyn (pronounced “decision”). Eventually the back issues were collected into a series of books, which were in turn collected as The Complete Tightwad Gazette. Dacyczyn wrote articles like: “Used Shoes: Are they Good or Bad?”, “Budget Bug-Busting”, “Tightwad Toys”, and “Saving Money on Your Mortgage”. Sounds just like a personal finance blog, doesn’t it? This book has thousands of tips, many of which were contributed by readers of the newsletter. (You won’t find any info on investing here. This book is about frugality!)
Investing
Learning to invest your money wisely is one important aspect of the middle stages of financial development. Wall Street is not friendly to the small investor. It’s designed to part you from your hard-earned dollars. These books can help you develop an investment philosophy that will let you improve your odds of retiring wealthy.
The Four Pillars of Investing by William Bernstein — I’ve read dozens of books about investing. Of these, The Four Pillars of Investing is probably my favorite. Most investing manuals espouse one sure-fire method or another. Four Pillars does that to an extent, but the author provides a great deal of depth and color to support his argument. I love that Bernstein takes a comprehensive, holistic approach to the subject, not just looking at the theory and business of investing, but also looking at the history and psychology of investing. This is a great book. [My review.]
The Random Walk Guide to Investing by Burton Malkiel — Malkiel is best known for his classic A Random Walk Down Wall Street. This book is shorter, written in plain English (there’s no investing jargon), and easy to understand. But that doesn’t mean it’s simplistic. This is an excellent book, filled with advice based on sound financial principles. It covers risk tolerance, asset allocation, diversification, and even a little behavioral finance. An excellent guide for beginners. [My review.]
The Only Investment Guide You’ll Ever Need by Andrew Tobias — Andrew Tobias is an entertaining writer. His jocular, conversational tone will keep you interested as he describes mutual funds, bonds, and treasury bills. There’s a good section on how to handle a windfall (lottery, inheritance). My favorite bit from Tobias is his three-step budget: destroy your credit cards, invest 20% of everything you earn (and never touch it), and live on the remaining 80% no matter what. Awesome. This is a classic introduction to the subject of investing, though at times it seems a little dated. (You can read Andrew Tobias every day at his blog.
The Bogleheads’ Guide to Investing by Larimore, Lindauer, and LeBoeuf — You want expert investment advice? You can’t beat the info found here. These devotees of Vanugard founder John Bogle are big on slow, sure investments like indexed mutual funds. They tap their decades of experience to teach about diversification, inflation, and asset allocation. It’s not nearly as boring as it sounds. This book covers a broad range of topics, though its primary focus is investing. Highly recommended.
The Automatic Millionaire by David Bach — There’s more to David Bach than just “the latté factor”. The system he recommends here is excellent — an automated approach to managing your personal finances. If you’ve been meaning to open a Roth IRA, but have never actually done so, then read this book! He’ll explain how to set it up so that it’s painless. The only caveat I’d note is that this book is several years old now, and because it contains specific recommendations for financial companies, it may be be in need of an update.
Financial Independence
This next group of books may be my favorite. These volumes cover topics related to Financial Independence — that magical point where you no longer have to work. This is the final stage of money management. For many people, this means retirement. But it doesn’t have to be that way. These books offer solid advice for how to create a future that matches your dreams.
The Millionaire Next Door by Stanley and Danko — The authors interviewed and surveyed a pool of millionaires, attempting to find common connections among them. They discovered that millionaires live below their means. They budget. They let their adult children make it on their own. This book introduces several key concepts, including degrees of wealth accumulation. It’s a bit tedious in spots, at least in the audio version. This is one of just a few books to cover both sides of the wealth equation: saving money and earning money. [My review.]
Yes, You Can…Achieve Financial Independence by James Stowers — Yes, You Can…Achieve Financial Independence is informative without being dense. It’s accessible without being condescending. Its advice is solid. The book is filled with investment advice, but it gives equal time to thrift and savings. Best of all, it asks as many questions as it provides answers. It prompts the reader to think, to evaluate her priorities. Its message is that yes, you can achieve Financial Independence, but you can’t get there overnight, and you can’t get there without setting goals and making sacrifices. [My review.]
The Incredible Secret Money Machine by Don Lancaster — This hard-to-find volume from 1978 looks like a get-rich-quick book. It’s not. It’s all about starting and running small businesses, especially craft businesses. To Lancaster, a “money machine” is any venture that generates “nickels”. Nickels are small streams of revenue from individual customers. If your goal is simply to earn a comfortable income for yourself by doing something you love, then this book can help you explore the idea of business ownership. One of my Dad’s favorites, and one of my favorites, too. [My review.]
The 4-Hour Workweek by Tim Ferriss — The 4-Hour Workweek is a frustrating book. A lot of the advice seems impractical and out-of-reach for the average person. But on the other hand, it’s filled with inspirational anecdotes and provocative ideas about how you can make the leap from desk jockey to the pursuit of your dreams. In my review, I wrote that this book “is like a kick in the head”, and it’s true. The flow of ideas is relentless. Despite its flaws, I think this is a great book. [My review.]
Work Less, Live More: The Way to Semi-Retirement by Bob Clyatt — While Financial Independence is my long-term dream, semi-retirement is my more immediate goal. Clyatt describes techniques for leaving the workaday world years (or decades) before the traditional retirement age of 65. Work Less, Live More includes sections on defining your goals, learning to live on less, putting your investments on autopilot, and more. This book is like a toned-down, practical version of The 4-Hour Workweek. I like it. A lot.
The Psychology of Money
I firmly believe that success with money is more about mind than it is about math. We all understand the arithmetic behind personal finance — to build wealth, you must spend less than you earn — it’s mastering the emotions and habits that causes us trouble. These books explore your money and your brain.
Why Smart People Make Big Money Mistakes (and How to Correct Them) by Gary Belsky and Thomas Gilovich — In this short book, Belsky and Gilovich catalog a menagerie of mental mistakes that cause people to spend more than they should. What might have been a boring topic becomes fascinating thanks to an engaging style and plenty of anecdotes and examples. This book covers more than a dozen psychological barriers to wealth and explains how to prevent them from sabotaging you. [My review.]
The Paradox of Choice by Barry Schwartz — I just finished this book the other night, and hope to provide a full review in the next week. It’s fascinating. Schwartz argues that the vast array of choices available to us in the marketplace actually make us less happy. We’d be better off with two options for a wide-screen plasma television instead of twenty. Too much choice doesn’t just make us unhappy — it prevents us from making smart decisions. Fascinating stuff.
Kids and Money
Many parents are unprepared to teach their children about money. You needn’t be one of them. These books suggest methods for getting kids to understand how money works.
Living Simply with Children by Marie Sherlock — Sherlock offers tips for how to raise children that aren’t part of the consumerist culture. She encourages strong family ties as a counter to the relentless purchase to acquire “stuff”. Sherlock is also a proponent of using family rituals to replace consumer-oriented cultural activities. There’s some great advice here (the book is strongly influenced by Your Money or Your Life), but some readers may be put off by the author’s philosophy.
Growing Money: A Complete Investing Guide for Kids by Gail Karlitz — Growing Money has good chapters on banks and bonds, but most of the book is devoted to stocks. The book also contains chapters on the history of the stock market, how investors make money, and how to buy and sell stocks. This is probably my favorite book for children, but it does have some weak spots. Only one page out of 120 is devoted to mutual funds. Because the book is aimed at children, taxes are barely considered. Still, its strengths outweigh its weaknesses. It’s the sort of book to buy for your nephew, but read yourself before you pass it on. [My review.]
What Color is Your Piggy Bank? by Adelia Cellini Linecker — This slim volume is a great choice for kids from 10-14 who are beginning to show an interest in entrepreneurship. Linecker covers the world of jobs, setting up shop, and how to manage money.
Financial Journalism
This final trio of books won’t help you get rich — at least not directly. These don’t contain overt stock tips or advice for frugal living. Instead, they tell real-life stories about certain aspects of finance.
Den of Thieves by James B. Stewart — It’s not just Bernie Madoff. Wall Street has fallen prey to all sorts of unscrupulous men over the course of its history. In Den of Thieves, Stewart takes us inside the high-finance worlds of Michael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine. These men were embroiled in the insider trading scandals that shook the market during the 1980s, and through their stories were able to see just how corrupting the influence of money can be. A little dense at times, but a great way to learn about the market.
Buffett: The Making of an American Capitalist by Roger Lowenstein — It’s no secret that Warren Buffett is one of my financial heroes. In this biography of Buffett, Roger Lowenstein describes the events that shaped his life, starting as a boy in the early 1930s. As we follow Buffett’s growth, we learn about the development of investment theory. There’s plenty of information here about Buffett’s investment philosophy. Entertaining and educational.
Hard Times: An Oral History of the Great Depression by Studs Terkel — Writer Studs Terkel published Hard Times in 1970. It features excerpts from over 100 interviews he conducted with those who lived through the 1930s. Terkel spoke with all sorts of people: old and young, rich and poor, famous and not-so-famous, liberal and conservative. By including the perspectives of so many different people, Terkel is able to paint a richer picture of what things were like. [My review.]
Bonus! The Worst Book About Money
Over the past few years, I’ve read many bad books about money. But none can compare to to the idiocy contained in The Secret by Rhonda Byrne. This book promotes all of the wrong messages, and encourages readers to believe that if they simply wish for something, it will come true.
The Secret contains tips like:
“It is helpful to use your imagination and make-believe you already have the money you want. Play games of having wealth and you will feel better about money; as you feel better about it, more will flow into your life.”
“The only reason any person does not have enough money is because they are blocking money from coming to them with their thoughts.”
“Visualize checks in the mail.”
“This kind of crap is dangerous,” I wrote in my original review. “It’s get-rich-quick drivel of the worst sort. It doesn’t help people address their money issues. It puts them into a pattern of wishful thinking.”
This book is awful.
Final Thoughts
Few personal finance books are perfect. For most, you need to employ personal filters. Dave Ramsey’s The Total Money Makeover is a fantastic book on debt reduction, but if you’re not Christian, you’ll have to tune out the Bible verses. All Your Worth contains a great plan for achieving financial balance, but you may need to ignore its constant disparaging of frugality and thrift.
Because I’ve limited myself to 25 books, I’ve had to leave a lot of great titles off the list. Please feel to share your favorite books about money and explain why others should read them.
In response to a wave of scam calls plaguing WhatsApp users, the popular messaging company has issued a statement outlining its efforts to combat the fraudulent activities. The scams involve individuals receiving calls from fake international numbers, causing concern and confusion among users.
WhatsApp has implemented spam detection technology to identify and take action against accounts engaging in suspicious behavior related to spamming activities. In a statement provided to CNBC TV 18, WhatsApp emphasized its commitment to user safety and revealed the presence of a grievance officer based in India. This officer serves as a contact point for users who have concerns about their experiences on the platform and are unable to report them through other channels.
The reports received by the grievance officer provide valuable insights into user complaints, enabling WhatsApp to take appropriate action against offenders. Additionally, WhatsApp has taken proactive measures to prevent abuse on its platform.
[embedded content]
Recognizing the urgency to protect its user base, WhatsApp has launched a marketing campaign titled “Stay Safe with WhatsApp.” The campaign aims to educate users about the platform’s built-in safety features and tools, including Two-Step Verification, Block and Report, and Privacy controls. By leveraging these safeguards, users can fortify their defenses against online scams, fraud, and threats compromising their accounts.
Reports of unsolicited WhatsApp calls and messages from purported international numbers have inundated social media platforms, particularly Twitter. These calls often originate from phone numbers starting with country codes such as +251 (Ethiopia), +60 (Malaysia), +62 (Indonesia), +254 (Kenya), and +84 (Vietnam).
Despite the country codes indicating specific origins, it is essential to note that WhatsApp calls are internet-based, allowing scammers to operate from any part of the world. Certain agencies even facilitate the sale of international numbers for WhatsApp calls across various cities.
WhatsApp’s proactive stance, coupled with user awareness and the utilization of the platform’s security tools, can significantly reduce the risks associated with these scams. By remaining vigilant and informed, users can protect themselves and their personal information from falling victim to such fraudulent schemes.
Introduction to WhatsApp scams
In today’s digital age, scammers are constantly adapting to new technologies and platforms to carry out their deceptive practices. WhatsApp, being one of the most widely used messaging apps globally with over 2000 million users (as of 2021), has become an attractive target for scammers. These scams range from phishing attempts to lottery frauds and everything in between. It is crucial to stay informed and vigilant to safeguard your personal information and financial well-being.
Common types of WhatsApp scams
Phishing scams
Phishing scams are one of the most prevalent types of online fraud, and WhatsApp is not exempt from their reach. In these scams, scammers impersonate legitimate organizations or contacts and try to trick users into revealing sensitive information like passwords, credit card details, or social security numbers. They often send messages containing malicious links or attachments, which, when clicked, can lead to the installation of malware or the redirection to fake websites.
WhatsApp verification code scams
WhatsApp verification code scams are designed to exploit the app’s verification process. Scammers pose as friends or contacts and request the verification code sent to the victim’s phone number, claiming they mistakenly entered the wrong number. @media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-banner-1-0-asloadedmax-width:580px!important;max-height:400px!important
By providing the verification code, unsuspecting users unwittingly grant scammers access to their WhatsApp account, potentially compromising their personal data and even using their account to carry out further scams.
WhatsApp lottery and gift scams
These scams play on people’s desire for easy money or extravagant gifts. Scammers send messages claiming that the recipient has won a lottery or is eligible for a lucrative prize. To claim the winnings, victims are asked to provide personal information or make a payment for processing fees or taxes.
Once the scammers receive the requested information or money, the promised prize never materializes, and the victims are left empty-handed.@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-large-leaderboard-2-0-asloadedmax-width:300px!important;max-height:250px!important
WhatsApp subscription scams
In WhatsApp subscription scams, fraudsters target users by posing as official WhatsApp representatives. They send messages warning users that their subscription is about to expire and prompt them to renew it by clicking on a provided link.
However, the link leads to a fake payment page where scammers attempt to collect users’ payment details. Unsuspecting individuals who fall for this ruse end up compromising their financial information.
How scammers operate on WhatsApp
[embedded content]
Scammers employ various tactics to carry out their malicious activities on WhatsApp. They create fake profiles, often using stolen or impersonated identities, to establish trust and credibility. These profiles may appear authentic, complete with profile pictures and personal information, making it harder to distinguish them from genuine contacts.
By exploiting the trust between friends and acquaintances, scammers can effectively deceive unsuspecting victims.
Warning signs of WhatsApp scams
It is important to be able to recognize the warning signs of WhatsApp scams to protect yourself. Here are some red flags to watch out for:
Unsolicited messages: Be cautious of receiving messages from unknown contacts or individuals you haven’t interacted with before. Scammers often target random users to initiate their fraudulent schemes.
Grammatical errors and typos: Pay attention to the language and grammar used in the messages you receive. Scammers may not have a strong command of the language and their messages might contain obvious errors or inconsistencies.
Urgency and pressure: Scammers often create a sense of urgency to manipulate their victims into making hasty decisions. They may claim that immediate action is required to prevent a negative consequence or to secure a supposed prize.
Requests for personal information: Legitimate organizations and service providers rarely ask for sensitive personal information through WhatsApp messages. If you receive messages asking for passwords, bank account details, or social security numbers, be skeptical and avoid sharing such information.
Unusual requests for money: Be wary of messages requesting money transfers or payments for unexpected fees, taxes, or processing charges. Verify the legitimacy of such requests independently before taking any action.
Unverified sources: Verify the authenticity of any links, attachments, or requests you receive via WhatsApp. Scammers often use enticing offers or malicious links to trick users into divulging personal information or installing malware.
Unfamiliar URLs or domains: If you are directed to a website through a WhatsApp message, double-check the URL and ensure it matches the official website of the organization or service it claims to be associated with. Scammers often create fake websites that closely resemble legitimate ones to deceive users.
Unusual or unexpected messages from known contacts: If you receive messages from friends or acquaintances that seem out of character or suspicious, reach out to them through a different communication channel to confirm their authenticity. Their WhatsApp account might have been compromised by scammers.
Steps to protect yourself from WhatsApp scams
Now that you are aware of the common types of scams and the warning signs to look out for, let’s explore some essential steps to safeguard yourself against WhatsApp scams:
Verify messages and links: Before clicking on any link or sharing sensitive information, independently verify the authenticity of the message or link by contacting the person or organization through a trusted source.
Enable two-step verification: Protect your WhatsApp account by enabling two-step verification. This adds an extra layer of security by requiring a PIN code whenever you register your phone number with WhatsApp.
Be cautious of suspicious requests: Exercise caution when asked to provide personal information or make payments. Verify the legitimacy of such requests independently and only proceed if you are confident in their authenticity.
Block and report suspicious contacts: If you encounter suspicious activity or receive scam messages, block the contact immediately and report them to WhatsApp. This helps prevent further communication and protects others from falling victim to the same scam.
Educate yourself and others: Stay informed about the latest scams and educate yourself about best practices for online security. Share this knowledge with friends, family, and colleagues to create a network of vigilant users.
Reporting WhatsApp scams
If you encounter a scam or suspect fraudulent activity on WhatsApp, it is important to report it to the appropriate authorities. WhatsApp provides a simple and effective way to report scams directly from within the app. By reporting scams, you contribute to the collective effort of combating online fraud and protecting others from falling victim to similar schemes.
The Bottom Line – WhatsApp Scams
In conclusion, the rise of WhatsApp scams serves as a stark reminder of the ever-present threats lurking in the digital realm. As scammers adapt their tactics to exploit unsuspecting users, it becomes crucial for individuals to arm themselves with knowledge and take proactive measures to safeguard their personal information and financial well-being.
While specific statistics on WhatsApp scams may be elusive, the broader landscape of online scams paints a concerning picture. According to various reports, the global cost of cybercrime is estimated to reach trillions of dollars by the year 2025. Scams, including those targeting messaging platforms like WhatsApp, contribute significantly to this alarming figure. From phishing attempts and lottery frauds to subscription scams, the tactics employed by scammers continue to evolve, making it imperative for users to stay informed and vigilant.
@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-leader-1-0-asloadedmax-width:728px!important;max-height:90px!importantTo combat this growing menace, WhatsApp has taken steps to enhance security measures, such as implementing spam detection technology and promoting user education through campaigns like “Stay Safe with WhatsApp.” By leveraging the platform’s built-in safety features and exercising caution when interacting with unknown contacts or suspicious messages, users can mitigate the risks posed by scammers.
Remember, your safety on WhatsApp and other digital platforms depends on a combination of user awareness, utilizing security tools, and reporting any suspicious activities. By staying informed, adopting best practices, and being proactive, you can navigate the digital landscape with confidence, protect yourself from scams, and contribute to a safer online community.
In this age of connectivity, where communication transcends borders, it is crucial to remain vigilant and empower ourselves against the ever-evolving threats of online scams. By working together and taking a stand against scammers, we can create a safer and more secure digital environment for all.
The Lone Star State is known for its towering cities, Tex-Mex cuisine, live music, and stunning Gulf Coast beaches. With magnificent waves and sandy coves, boating and kayaking, sightseeing and fishing, the scenic Texas beach towns are some of the best you’ll find. Whether you’re looking to relocate to Texas or are one of the many Texans looking for a beachside property, you have lots of towns to choose from.
But if you’re not sure where to start on your hunt for the best Texas beach town, we’re here to help. From Corpus Christi to Galveston, Redfin has put together a list of 9 amazing Texas beach towns. Let’s dive into some of Texas’s top beach cities, listed in alphabetical order, so you can find the right place for you.
#1: Bolivar Peninsula
Median home price: $449,500 Bolivar Peninsula, TX homes for sale Bolivar Peninsula, TX apartments for rent
Starting off our list is Bolivar Peninsula, home to roughly 2,600 people. There are plenty of beaches to explore living in the Bolivar Peninsula such as Bolivar Beach, Bolivar Flats, Crystal Beach, Ramada Beach, and Rollover Island. After moving to Bolivar Peninsula, you can stop by Horseshoe Lake and hike the Horseshoe Marsh Nature Trail, or take a fishing charter boat if you’re looking for adventure.
#2: Corpus Christi
Median home price: $261,000 Average rent for a one-bedroom apartment: $972 Corpus Christi, TX homes for sale Corpus Christi, TX apartments for rent
Another one of Texas’s great coastal towns to consider buying a home in is Corpus Christi, which has about 317,800 residents. There are plenty of beaches to visit throughout the area like JP Luby Beach, McGee Beach, Mustang Island State Park, North Beach, and Whitecap Beach. You can also explore downtown Corpus Christi, visit one of the many museums, and take a tour of the USS Lexington.
#3: Freeport
Median home price: $223,450 Freeport, TX homes for sale Freeport, TX apartments for rent
Freeport is home to about 10,600 residents and is about an hour and 15 minutes south of Houston. There are lots of beaches to explore on a sunny Texas day like Bryan Beach and Freeport Beach. If you find yourself moving to Freeport, check out downtown Freeport and explore the many museums, stores, and restaurants.
#4: Galveston
Median home price: $437,500 Galveston, TX homes for sale Galveston, TX apartments for rent
With beautiful beaches like Babe’s Beach, East Beach, Jamaica Beach, Porretto Beach, San Luis Beach, Sea Life Beach, Sea Shell Beach, Stewart Beach, Sunny Beach, and Terramar Beach, there are countless places to spend a beach day. There are several other top attractions you may want to check out in Galveston. Make sure to explore Galveston Island State Park, spend the day at Moody Gardens, and check out the historic piers overlooking the water.
#5: Kemah
Median home price: $353,750 Average rent for a one-bedroom apartment: $1,029 Kemah, TX homes for sale Kemah, TX apartments for rent
The quaint coastal town of Kemah has about 1,800 residents, making it another great option to consider buying or renting in. You’ll find stunning beaches such as El Jardin Beach where you can enjoy the views or have a picnic at. In Kemah, you can explore Kemah Boardwalk, home to roller coasters, ferris wheels, and other boardwalk attractions.
#6: Port Aransas
Median home price: $905,000 Port Aransas, TX homes for sale Port Aransas, TX apartments for rent
Port Aransas has about 3,100 residents and is a great beach town to consider living in. Some beaches you can visit are Holiday Beach, Port Aransas Beach, and I. B. Magee Beach Park. There’s lots of activities to do in this coastal city. You can visit the Port Aransas Nature Preserve and check out one of the great local restaurants by the water, among many other local favorites.
#7: Port Arthur
Median home price: $139,000 Average rent for a one-bedroom apartment: $771 Port Arthur, TX homes for sale Port Arthur, TX apartments for rent
With a population of about 55,700, Port Arthur is a scenic beach area to live in, located along Sabine Lake and the Gulf of Mexico. There are plenty of beaches to explore in Port Arthur such as McFadden Beach and Pell’s Beach. If you find yourself moving to this coastal town, make sure to explore the Texas Point National Wildlife Refuge and check out the museums and historic spots.
#8: Rockport
Median home price: $305,500 Average rent for a one-bedroom apartment: $930 Rockport, TX homes for sale Rockport, TX apartments for rent
Rockport has stunning beaches such as Rockport Beach, great for taking in the water views. Be sure to fish at Rockport Pier, check out museums like Bay Education Center and Texas Maritime Museum, and explore the local restaurants once you move to Rockport.
#9: South Padre Island
Median home price: $385,000 South Padre Island, TX homes for sale South Padre Island, TX apartments for rent
Just about 2,100 people live in this area where you’ll find beaches like Isla Blanca Beach and South Padre Island Beach. Some other fun activities to do in South Padre Island include exploring Gravity Park, hiking the Laguna Madre Nature Trail, and stopping by one of the local restaurants for a meal.
Note, this list is not comprehensive of all the beach towns in Texas. Median home sale price data from the Redfin Data Center during June 2023. Average rental data from Rent.com June 2023. Population data sourced from the United States Census Bureau.
Buying a house in Michigan can be an exciting and fulfilling experience. Known for its diverse landscapes, vibrant cities, and affordable housing options, Michigan offers prospective homebuyers a range of opportunities. Whether you’re looking for charming suburban homes in Grand Rapids, a bustling urban condo in Ann Arbor, or a serene rural retreat, Michigan has something to offer. However, navigating the homebuying process in Michigan requires careful consideration of factors such as location, market conditions, financing options, and legal requirements. Understanding the local real estate market, working with knowledgeable professionals, and conducting thorough research is vital to making informed decisions and finding the perfect home in Michigan.
If you’re a first-time homebuyer and want to know more about the market, Redfin has your back. From market insights to the homebuying process, read on to get started.
What’s it like to live in Michigan?
Michigan is known for its breathtaking natural beauty, including the Great Lakes, stunning forests, and picturesque landscapes. Residents can enjoy various outdoor activities like hiking, camping, boating, and skiing. Furthermore, Michigan boasts excellent educational institutions, including renowned universities like the University of Michigan and Michigan State University. The cost of living in many areas of Michigan is relatively affordable compared to other states, allowing residents to enjoy a comfortable lifestyle. Check out this article to learn more about the pros and cons of living in Michigan.
Michigan housing market insights
The housing market in Michigan continues to show increased median sale prices. As of recent data, the median sale price stands at $252,200, reflecting a 1.6% year-over-year increase. However, Due to the growth in prices, certain metros within the state are experiencing high levels of competition. Areas such as Fraser, Walker, and Clawson have become particularly competitive for homebuyers. Additionally, the number of homes available for sale has declined, down 8.3% year-over-year. This reduced inventory can contribute to a more competitive market and potentially drive up prices further. These insights indicate a dynamic housing market in Michigan, with rising costs, pockets of intense competition, and limited inventory, making it essential for prospective buyers to stay informed and be prepared for the market’s challenges and opportunities.
Finding your perfect location in Michigan
Finding the perfect location in Michigan is crucial when buying a house in the state. Michigan offers a diverse range of communities, each with its unique characteristics and amenities. Factors such as proximity to schools, job opportunities, recreational activities, and community services play a significant role in determining the suitability of a location.
If you’re between two cities you love, don’t fret; using tools like a cost of living calculator will provide insight into which city aligns with your budget. And to help you get started, we’ve compiled a list of five sought-after Michigan cities, highlighting market insights and their unique offerings.
#1: Detroit, MI
Median home price: $75,000 Detroit, MI homes for sale
As the largest city in Michigan, moving to Detroit offers a unique experience that is shaped by its rich history, cultural diversity, and ongoing revitalization efforts. Detroit’s sports culture runs deep, with passionate fan bases for teams like the Detroit Tigers, Pistons, and Red Wings. Additionally, Detroit’s revitalization efforts have led to the revitalization of neighborhoods such as Midtown and Corktown, where new businesses, art galleries, and entertainment venues have emerged.
#2: Kalamazoo, MI
Median home price: $190,500 Kalamazoo, MI homes for sale
The cost of living in Kalamazoo, MI is 21% lower than the national average, perfect for those on a budget. The city is known for its lively arts scene, with the Kalamazoo Institute of Arts, the Kalamazoo Symphony Orchestra, and numerous theater companies providing a rich cultural experience. Residents can explore the vibrant downtown area, filled with local shops, restaurants, and breweries, including the popular Bell’s Brewery. Kalamazoo offers a range of outdoor recreational activities, with parks, hiking trails, and proximity to scenic areas such as the Kalamazoo River Valley Trail and the Kal-Haven Trail. So if you’re looking for a small town with a low cost of living, moving to Kalamazoo could be for you.
#3: Grand Rapids, MI
Median home price: $290,000 Grand Rapids, MI homes for sale
Moving to Grand Rapids offers a rich and fulfilling experience with a unique blend of urban amenities and natural beauty. Grand Rapids is known for its thriving craft beer scene with numerous breweries and festivals. It was even named Beer City, USA. The city boasts a rich cultural landscape, including the renowned Frederik Meijer Gardens and Sculpture Park, the Grand Rapids Art Museum, and the Gerald R. Ford Presidential Museum. With a strong emphasis on the arts, Grand Rapids hosts ArtPrize, one of the world’s largest art competitions.
#4: Novi, MI
Median home price: $390,000 Novi, MI homes for sale
Moving to Novi offers a delightful experience with its upscale shopping destinations. You’ll find the Twelve Oaks Mall and the luxurious Novi Town Center, providing residents with a wide range of shopping and dining options. The city also boasts several parks and recreational areas, including the picturesque Lakeshore Park, which offers trails, picnic spots, and beautiful views of Walled Lake. Moreover, Novi is renowned for hosting the annual Michigan State Fair, a lively event showcasing agricultural exhibits, captivating entertainment, and exhilarating rides.
#5: Ann Arbor, MI
Median home price: $496,250 Ann Arbor, MI homes for sale
As the home of the University of Michigan, Ann Arbor has a lively and intellectual atmosphere. The city is renowned for its top-tier education, world-class research facilities, and a strong emphasis on innovation and entrepreneurship. Residents can take advantage of various cultural events, including the Ann Arbor Film Festival, the Ann Arbor Art Fair, and the renowned University Musical Society, which brings diverse performing arts to the community. The vibrant downtown area is filled with local shops, restaurants, and cafes, creating a lively and welcoming environment for anyone moving to Ann Arbor.
The homebuying process in Michigan
Let’s explore the homebuying process if you’re ready to put down roots in Michigan.
1. Prioritize your finances
Prioritizing your finances when buying a home in Michigan is crucial for several reasons. First and foremost, it ensures that you can comfortably afford the financial obligations associated with homeownership. By assessing your income, expenses, and budget, you can determine a realistic price range and avoid overextending yourself financially. Along with prioritizing your finances to help secure a favorable mortgage loan with competitive interest rates and terms. If you’re not sure where to start, using tools like an affordability calculator will point you in the right direction.
Various programs are available for first-time homebuyers in Michigan, including the MI Home Loan, which can assist with up to $7,500 in down payment assistance.
2. Get pre-approved from a lender
Getting pre-approved from a lender is an essential first step when starting the homebuying journey. By seeking pre-approval, you gain a clear understanding of your budget and financial limitations, which allows you to search for homes within your price range. Pre-approval involves a lender evaluating your financial situation, credit history, and income to determine the loan amount you qualify for.
3. Connect with a local agent in Michigan
When buying a house, connecting with a local real estate agent in Michigan is essential, as they bring valuable expertise, guidance, and local market knowledge. A local agent understands the nuances of the Michigan real estate market, including neighborhood trends, property values, and inventory availability. They can help you identify suitable neighborhoods that align with your preferences and budget. So whether you’re looking for real estate agents in Grand Rapids or agents in Detroit, they’re here to help.
4. Start touring homes
Touring homes is a crucial step in the homebuying process, as it allows you to experience and evaluate properties first hand physically. It provides an opportunity to assess a home’s condition, layout, and overall appeal before making a purchasing decision. During home tours, paying attention to several key factors is essential. First, consider the home’s structural integrity and potential maintenance issues. Look for signs of water damage, cracks in the foundation, or any other red flags that could indicate significant repairs or maintenance expenses down the line.
5. Make the offer
Making an offer signifies the buyer’s serious intent to acquire the home and initiates the negotiation phase. When crafting an offer, prospective buyers must consider the property’s market value, comparable sales in the area, the seller’s asking price, and their budget and preferences. The offer should be presented in writing and include essential details such as the proposed purchase price, desired contingencies, and the seller’s response deadline.
6. Close on the house
The closing process is the final stage, where all the necessary legal and financial transactions are completed, and property ownership is officially transferred from the seller to the buyer. During the close, various important tasks take place, including reviewing and signing the final purchase agreement, verifying the title and property records, completing the mortgage paperwork, and paying closing costs and fees. Additionally, the close allows the buyer to conduct a final walkthrough of the property to ensure its condition is as expected.
If you’re new to the process, Redfin has insights for you. The First-Time Homebuyer Guide has everything you need to know about each step of the process.
Factors to consider when buying a house in Michigan
When going through the homebuying process, you’ll want to understand the unique considerations of buying a home in Michigan.
Water rights
Michigan has strict regulations regarding water rights, particularly in properties with access to lakes, rivers, or streams. When purchasing a house, understand the extent of your water rights, restrictions, and availability for everyday use or irrigation.
Flood risks
Michigan faces significant flood risks due to its unique geographical features and weather patterns. The presence of the Great Lakes exposes many areas to potential flooding. Additionally, Michigan has numerous rivers, streams, and inland lakes, which can contribute to the likelihood of flooding during heavy rainfall or snowmelt events. The state’s climate, characterized by cold winters and frequent precipitation, can lead to rapid snow accumulation and subsequent spring thaws, increasing the risk of flooding. Knowing if your house is in a flood zone is essential, so you can be prepared.
Dual agency
A dual agency is permitted when buying a house in Michigan. A dual agency is when a real estate agent or broker represents the buyer and seller in the same transaction. In Michigan, this practice is allowed as long as it is disclosed and agreed upon by all parties involved. However, it is advisable for buyers to carefully consider the implications of dual agency, as the agent’s loyalty and fiduciary duty may become divided between the buyer and the seller.
High closing costs
Michigan is known for having relatively high closing costs when buying a home. On average, homeowners will spend around $5,714. Closing costs encompass various fees and expenses that buyers incur during the final stages of a real estate transaction. In Michigan, these costs typically include property taxes, title insurance, attorney fees, appraisal fees, loan origination fees, and recording fees.
Buying a house in Michigan: Bottom line
Michigan’s real estate market provides a diverse selection of housing options, encompassing both affordable areas and higher-priced cities. The affordability and availability of homes depend on factors such as location, market conditions, and individual budgets. To navigate this market successfully, it is crucial to conduct thorough research on the desired area, track market trends, and assess personal financial readiness, including credit score and down payment savings. By gaining a comprehensive understanding of the homebuying process, you can embark on your journey towards homeownership in Michigan with confidence.
Buying a house in Michigan FAQ
What credit score is needed to buy a home in Michigan?
The credit score needed to buy a home in Michigan, as in any other state, can vary depending on the lender and the type of mortgage loan. However, generally speaking, a higher credit score is advantageous when applying for a mortgage. Most conventional lenders prefer borrowers to have a credit score of 620 or higher. This shows a strong credit history and a lower loan default risk. Additionally, loan programs are available that cater to borrowers with lower credit scores, such as FHA loans, which typically require a credit score of 500 or higher.
What is the required down payment for buying a house in Michigan?
The down payment required to buy a house in Michigan, as in other parts of the United States, can vary depending on several factors, including the type of mortgage loan you’re using and the lender’s requirements. Typically, conventional mortgage lenders may require a down payment of 3% to 20% of the home’s purchase price. For example, if you’re buying a $200,000 home, a 3% down payment would amount to $6,000, while a 20% down payment would be $40,000. However, it’s important to note that there are loan programs available that may require lower down payments. For instance, FHA loans often require a down payment of 3.5% of the purchase price, while VA loans and USDA loans offer the option of zero down payment for eligible borrowers.
Are home prices affordable in Michigan?
Whether buying a house in Michigan is considered cheap depends on various factors, including the specific location within the state, the local real estate market conditions, and individual budget constraints. For example, in Kalamazoo, housing costs 47% less than the national average, whereas housing in Ann Arbor is 16% more than the national average. As a whole, Michigan has been known to offer more affordable housing options compared to some other states in the United States. However, prices can still vary significantly depending on the city or region. Consulting with a local real estate agent or professional can provide valuable insights into the desired area’s current market conditions and pricing trends.
It’s the summer of Barbie. The movie release date is set for July 21, but the celebration of the iconic doll is going all season with pop-up exhibitions and hotel promotions.
If you want to travel to your own Barbie dream world, here are the best Barbie-inspired trips you can take this summer:
1. World of Barbie: Santa Monica, California
(Photo by Meghan Coyle)
The World of Barbie in Santa Monica, California, is a temporary exhibition that takes people into Barbie’s world, including a real-life version of her Dreamhouse, camper van, space shuttle and TV studio. There’s also a gallery portion with vintage Barbie dolls and cars on display.
The exhibit is mainly a giant photo opportunity, with some interactive activities for kids, like a ball pit, and even a salon with real stylists on certain days. If you want a unique souvenir, consider building your own custom Barbie set from scratch for an additional fee.
Ticket prices run from $35 to $50 per adult and $25 to $32 per child. The exhibit is open through early September.
2. Malibu Barbie Cafe: Chicago and New York
(Photo courtesy of Bucket Listers)
Barbie apparently eats rainbow pancakes, beach burgers and candied bacon at the Malibu Barbie Cafe. The Barbie-inspired restaurant is operating in Chicago and New York with a menu by Chef Becky Brown, who was a semifinalist on MasterChef.
And there’s more to do at the Barbie restaurant than just eat. At the Chicago location, there’s a roller skating rink. Both sites have a gift shop, plus plenty of Instagram-worthy sets designed for you to have your own Barbie-inspired photo shoot.
Both restaurant locations are temporary, with tickets available through mid-September.
3. The Barbie room at The Curtis Hotel: Denver
(Photo courtesy of Hilton)
You can book a Barbie-themed hotel room at The Curtis Hotel in downtown Denver. Though the hotel has a boutique feel, it’s actually part of the DoubleTree by Hilton brand.
This hotel has standard rooms as well as themed rooms, including one dedicated to Barbie. The themed rooms typically cost about $50 to $60 more per night than standard rooms, according to hotel spokesperson Tamara Atkin.
The Barbie room is decorated with images of the iconic dolls and has a salon chair inside. And unlike the other temporary offerings, The Curtis Hotel’s Barbie room is a permanent fixture. Though, for a limited time, guests also receive a complimentary makeup case and a voucher for a martini from the hotel bar when they book.
4. The Don CeSar: St. Pete Beach, Florida
(Photo courtesy of The Don CeSar)
This beachfront resort isn’t officially considered a Barbie hotel, but the Don CeSar is known as the “Pink Palace.” It exudes historical charm with a famous pink exterior.
Ron Sandel, general manager of HotelTonight, said in an email that the hotel has seen a 30% increase in bookings this year versus last.
“With Barbie mania in full effect this summer, we’re not surprised to see HotelTonight users book the pink-walled hotel,” he said. “In addition to being steps away from one of the best beaches in the country, we love Don CeSar for its 1950s-style ice cream parlor.”
5. The Ken Dreamhouse on Airbnb: Malibu, California
(Image courtesy of Airbnb)
Only a handful of lucky people will get a chance to stay in what might be the ultimate Airbnb: Barbie’s Malibu Dreamhouse. The oceanfront mansion includes a disco dance floor and infinity pool.
Airbnb has run promotions for the glitzy house before, and this time, the vacation rental is decked out in honor of Barbie’s beau, Ken. It’s available to book for just two nights this summer, July 21 and July 22.
Anyone can request to book the Malibu Dreamhouse for a one-night stay for up to two guests each. While Airbnb says the bookings aren’t a contest, stays are free of charge, aside from taxes and fees. The booking window opens Monday, July 17, at 10 a.m. PT, so be ready to click.
(Top photo courtesy of World of Barbie)
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
Open a BMO Harris Premier™ Account online and get a $500 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days of account opening. Expires 9/15. Conditions Apply.
If you’re a seasoned trader who spends hours watching the markets every weekday and relies on your portfolio to supplement or even provide the bulk of your income, low-cost robo-advisors and most mass-market DIY brokerages don’t cut it for you. You need a powerful trading platform that lets you execute at a level commensurate with your skill.
Tastytrade is just such a trading platform. It’s designed for experienced, confident traders who actively play the markets and, in many cases, trade in riskier asset types like options, futures, and cryptocurrencies.
Tastytrade has a lot of benefits for market participants who know what they’re doing. It also has some important gaps and drawbacks, so don’t automatically assume it’s ideal for you. Learn more about how it works and what to expect from it first.
What Is Tastytrade?
Tastytrade is an online trading platform for experienced, active traders. It has a broad lineup of available asset types, including stocks, exchange-traded funds, options, futures, and cryptocurrencies. Stock and ETF trades are free, with variable commissions and fees for other asset types.
Tastytrade’s core features enable quick construction and execution of simple or complex trades. Unlike more beginner-friendly brokerages, Tastytrade is designed for traders deeply familiar with the markets and confident in their trading strategies. Though it does have social features that allow regular users to follow experts as they play the markets, it lacks extensive educational resources.
What Sets Tastytrade Apart?
Tastytrade stands out from many other online brokerages in ways both positive and negative:
Excellent account opening bonus. Tastytrade offers an account opening bonus worth up to $3,000 for new users. You can get the maximum bonus amount with a new money deposit of just $250,000, lower than comparable thresholds for similar bonus amounts elsewhere.
Sophisticated features for active traders. Tastytrade is designed for active traders in scenarios where seconds (or even milliseconds) count. Its ordering interface prioritizes speed and accuracy.
Access to advanced asset types like futures and futures options. Tastytrade allows stock and ETF trading, but so do most online brokerages. Its futures, futures options, and cryptocurrency offerings are less common in this market, and quite welcome for serious traders looking to diversify.
Limited trader education resources. The other side of Tastytrade’s appeal to experienced traders is its relative lack of trader education resources. It’s not the best place to learn investing basics.
Key Features of Tastytrade
Before opening a Tastytrade account, understand how its platforms work and what to expect from its trading features. Familiarize yourself with its pricing and account opening bonus opportunity too.
Account Opening Bonus
For a limited time, Tastytrade has an exciting account opening promotion* for new customers. To earn it, complete the following qualifying activities:
Open and fund your account by the stated offer end date, currently September 30, 2023
Make a qualifying new money deposit of at least $5,000 — but you must deposit at least $250,000 to earn the full $3,000 bonus
Meet other bonus requirements as spelled out in Tastytrade’s offer terms
Bonus tiers are as follows:
Deposit
Cash Bonus
$5,000 to $24,999
$100
$25,000 to $99,999
$500
$100,000 to $249,999
$2,000
$250,000 or more
$3,000
Your deposit can be cash, securities, or some combination of the two, but all of it must be new to Tastytrade. Funds transferred from another Tastytrade account don’t count toward the bonus amount.
Account Types
Tastytrade offers two taxable account types: individual and joint. You hold an individual account in your name only and a joint account with one other individual.
Tastytrade offers several types of tax-advantaged accounts as well, including traditional, Roth, and SEP IRAs.
Products Available to Trade
Tastytrade offers a comprehensive lineup of asset types to trade:
Stocks (including fractional shares)
ETFs
Options contracts
Futures contracts
Options contracts for futures
Cryptocurrencies
Commodities
Note that you can only trade stocks and ETFs in a basic account. You need to complete separate applications to get permission to trade other asset types, like options and futures. Standards vary by asset type, but you generally need to have a minimum amount of cash in your account at all times to trade more advanced asset types.
Commissions & Fees
Tastytrade charges no commissions at all on stock and ETF trades and no direct commissions on most other trades.
However, options and futures trades carry variable per-contract fees that are a few ticks above the industry average. These range from $0.25 to $2.50 per contract, depending on the contract type and underlying asset.
Cryptocurrency trades carry a flat 1% commission. It’s capped at $10 per transaction, regardless of the size of the trade. Cryptocurrency trades may involve other fees that Tastytrade can’t control.
Trading Platforms & Tools
Tastytrade has three distinct platforms: a desktop platform that you download once and run on your computer, a web browser that you can use on any machine as long as you have your login credentials, and a mobile app for on-the-go trading from your phone.
All three platforms have a comprehensive array of features and capabilities for serious traders:
Percent-of-profit orders, which allow you to set a strike price with a higher probability of occurring (and thus locking in your profits)
A rapid order adjustment feature that allows you to change pricing and trade structure on open orders without placing the order again
Curve analysis, a visual representation of expected profit or loss for a given trade based on the strike price
Quick roll, a fast way to roll open options orders into the next expiration month without reopening the trade
Social features like the Follow Feed, where you can follow expert traders’ moves in real time, and an in-platform video feed where expert traders narrate their trades
The mobile trading app has separate versions for Android and iOS. It’s essentially the desktop and browser trading platforms in miniature, with all the same features and capabilities. The user experience is excellent and execution speed (which is critical for serious traders) is on par with the other platforms as long as you have a strong Wi-Fi or LTE signal. Both versions have high marks from thousands of verified users.
Pros & Cons
Tastytrade has some key pros and cons to understand before opening your account.
No trading commissions on stocks and ETFs
Access to less common asset types
Excellent account opening promotion
Not ideal for beginners or hands-off investors
Some missing asset types
Above-average pricing on certain assets
Pros
Tastytrade is a comprehensive, social, and overall well-designed online brokerage for experienced traders.
No trading commissions on stocks and ETFs. Tastytrade charges no commissions on stock or ETF trades. If these are the only assets you buy and sell on Tastytrade, you’ll pay almost nothing (other than unavoidable regulatory fees) to use it.
Access to some less common asset types. Tastytrade’s less common asset types include futures, futures options, cryptocurrencies, and commodities that you can buy and sell directly. Many competing brokerages offer only stocks, funds, and options.
Potentially generous account opening promotion. Tastytrade’s account opening promotion is worth up to $3,000 with a qualifying new money deposit. You can earn the full amount with as little as $250,000 in new money, compared with $1 million or more for similar bonuses elsewhere.
Powerful order construction and execution tools. Tastytrade is built for sophisticated order construction and rapid execution. If your income depends on getting in and out of trading positions quickly, this is a key advantage.
Available anywhere with an Internet connection. Tastytrade’s three trading platforms are available anywhere with an Internet connection. The mobile apps offer Tastytrade’s full capabilities on the go.
Cons
Tastytrade isn’t appropriate for beginner and intermediate investors, which means it’s not appropriate for most market participants. It also has some gaps in asset availability and higher-than-average pricing in some asset types.
Not ideal for beginners. Tastytrade isn’t designed for beginners or even intermediate investors. It’s meant for active traders who know what they’re doing. If that’s not you, consider another online brokerage.
Not designed for passive investors. You can use Tastytrade to build a long-term stock and ETF portfolio that you occasionally write options against. But you can do that with dozens of other online brokerages as well. And Tastytrade lacks basic research and education features that long-term investors need.
Some missing asset types. Though Tastytrade has some bond ETFs, you can’t buy or sell government or corporate bonds directly on Tastytrade. The platform also lacks mutual funds. Truly comprehensive brokerages have both asset types.
Above-average pricing on certain assets. Tastytrade’s options and futures pricing is a bit higher than average in some cases. Futures option pricing ranges up to $2.50 per contract, nearly double what more reasonable brokerages charge.
How Tastytrade Stacks Up
Tastytrade is one of several high-quality online brokerages serving experienced, active traders. One of its closest competitors is TradeStation, which has a similar breadth of assets. Before opening an account with either, see how they compare.
Tastytrade
TradeStation
Account Opening Promo
Yes
Yes
Stock Commissions
$0
$0
Options Contracts
$1 per contract
$0.50 per contract
Futures Contracts
$0.25 to $1.50 per contract
$0.50 to $1.50 per contract
Cryptocurrency Available
Yes
Yes
Bonds Available
No
No
Tastytrade is roughly equivalent to TradeStation on stock, ETF, and cryptocurrency trading. Both lack direct bond access as well. But TradeStation is superior overall thanks to more competitive pricing on certain asset types.
Final Word
Tastytrade has a powerful trading interface built for experienced, active market participants. It’s fast, intuitive, and effective.
If that sounds like everything you need in an online brokerage, Tastytrade could be the right platform for you. Unfortunately, most investors aren’t super-experienced or particularly active. Tastytrade isn’t designed with them in mind.
On the bright side, there’s an abundance of beginner-friendly online brokerages for DIYers, plus even more low-cost, easy-to-use robo-advisors built for passive investors. You don’t have to use Tastytrade just because it’s a well-designed product. In fact, if you have to stop and think about whether it makes sense for you, it probably doesn’t.
*This offer is valid for legal residents of the 50 U.S. states and D.C. It’s not valid for IRA or trust accounts. You must be 18 or older to qualify. For complete rules and additional eligibility requirements, see the Official Terms and Conditions.
tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Money Crashers (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website.
Editorial Note:
The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
The Verdict
Our rating
Tastytrade
Tastytrade is an excellent online brokerage for experienced, active traders who don’t need much support or education. It offers access to less-common asset types like futures and futures options and boasts one of the best, most accessible account opening bonuses in the industry. However, its lack of beginner- and intermediate-friendly resources mean it’s not appropriate for most traders, and its pricing is a bit high on some asset types.
@media (max-width: 1200px)
body .ns-buttons.ns-inline .ns-button-icon width: 100%; .ns-inline .ns-button –ns-button-color: #000000;
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he’s not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.
Inside: Are you looking for a remote job? This guide will help you find the best remote jobs for college students, with information on industries, pay, hours, and more.
The internet has made it possible to work from anywhere in the world.
This is great news for college students who want to earn some money while they study.
Back when I was in college, working remotely wasn’t even considered a possibility. But, now, there are a number of online jobs available that are perfect for college students.
In addition, remote jobs are one of the best ways for college students to make money and gain experience.
With a remote job, you can work from anywhere in the world, which is perfect for students who want to travel or live at home with their parents while transitioning to and from a college campus.
There are many different types of remote jobs available, so there is sure to be something that suits your skillset and interests.
In this article, we will explore the best remote jobs for college students.
How can a college student make money remotely?
Remote work has become increasingly popular among college students and for good reason.
Many students today have grown up with technology and possess the skills necessary to excel in remote jobs.
Not only does remote work provide a flexible schedule that can be easily adjusted to accommodate class schedules, but it also offers numerous benefits such as the ability to work from anywhere, reduced transportation costs, and the opportunity to contribute to environmental sustainability by reducing carbon emissions.
Additionally, remote work allows students to earn extra income, potentially reducing their reliance on student loans and minimizing post-graduation debt.
Can I work remotely in college?
Yes! Working remotely in college can be a great way to earn some extra money and gain some work experience.
Remote work has gained immense popularity across the globe, with its adoption nearly doubling since the pandemic.
As college students, you often possess the necessary tools for remote work, such as a laptop, making it a convenient option for them.
This is a great idea if you are looking at how to pay for college without loans.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
The 15 best remote jobs for college students
Working remotely is a great way for college students to earn money and gain experience in their chosen field.
Whether you are looking for a way to make some extra money, or maybe you need a flexible job that will fit around your studies. Whatever the reason, there are plenty of remote jobs out there that could be perfect for you.
Also, you can review these non phone work from home jobs for more ideas.
Here are 15 of the best remote jobs for college students.
1. Virtual Assistant
A virtual assistant is one of the best remote jobs for college students due to its versatility and learning opportunities. Plus there are plenty of virtual assistant jobs with no experience out there.
As the demand for remote administrative support services continues to grow, virtual assistants play a crucial role in helping companies and individuals with various tasks. Working from a remote location, virtual assistants provide administrative assistance by handling phone calls, scheduling appointments, managing emails, and more.
By finding a position as a virtual assistant in their desired industry or with a respected professional, students can make their side hustle more beneficial to their future.
Benefits:
Provides an opportunity to gain professional experience and develop essential skills such as communication, time management, and resourcefulness.
Requires quick thinking and the ability to switch between diverse tasks, which enhances cognitive flexibility and adaptability.
Allows students to learn about different industries and gain insights into their chosen career paths.
Pay: Most virtual assistants average about $20 an hour.
2. Online Tutor
Online tutoring is widely regarded as one of the best remote jobs for college students. With its flexibility and convenience, it offers students the opportunity to work from anywhere at their own pace.
Whether they excel in a specific subject or want to gain teaching experience, online tutoring provides a platform for college students to share their knowledge and help others succeed academically.
Benefits:
A high degree of flexibility it offers.
Freedom to choose their own hours, instruction topics, and the number of students they want to work with.
Balance their tutoring responsibilities with their academic commitments, ensuring they can effectively manage their time.
Pay: Although the reported median hourly wage for tutors was $17 an hour. The actual pay can vary depending on factors such as the subject being taught, the level of expertise required, and the platform through which tutoring is conducted.
3. Proofreader
Proofreading is a crucial role in the final stages of the written content production process, making it one of the best remote jobs for college students. A proofreader possesses a keen eye for detail and a strong command of the language, allowing them to identify and rectify errors that may have eluded the writer or editor.
They play a vital role in ensuring the accuracy, clarity, and coherence of written materials across various industries.
Benefits:
Offer the flexibility to work from anywhere, making it ideal for college students who need to balance their studies with work.
Enhances skill development such as language skills, attention to detail, and critical thinking abilities, which are valuable in various fields.
Networking opportunities to build professional connections and expand one’s network.
Pay: The average pay for proofreading jobs is $22 per hour, providing college students with a valuable source of income.
4. Social Media Manager
In today’s digital world, social media has become an essential tool for businesses to connect with their target audience, build brand awareness, and drive engagement. With the increasing importance of social media, businesses are in need of skilled professionals who can effectively manage their social media presence.
This makes the role of a social media manager one of the best remote jobs for college students, providing them with the opportunity to earn money while gaining practical experience in online promotion.
Benefits:
Enjoy being paid to be on your favorite social media apps.
Ideal remote job for college students due to its flexibility.
Gain practical experience in online promotion, which can be valuable for those studying marketing, journalism, or communications. Benefits:
Pay: The pay for social media management can vary significantly, but you can expect $15 an hour to $25 an hour.
5. Freelance Writer
Remote writing jobs are an excellent option for college students looking to earn extra income while honing their writing skills.
As writers, college students have the opportunity to create a wide range of written materials that can be distributed through various channels, such as articles, blogs, website copy, and more.
The demand for remote freelance writers is high, making it a popular choice among college students seeking flexible work options.
Benefits:
Freelancers can work on short and long-term projects.
As long as you have a computer and internet connection, you can work from anywhere.
Showcase writing skills and earn income.
Pay: The pay for freelance writers is by the word (.01-$1.50 per word). With most freelance writers averaging about $29 an hour.
6. Social media influencer
Social media influencers have become a prominent and lucrative career option in today’s digital age.
For college students, becoming a social media influencer can be an excellent remote job opportunity that allows them to leverage their online presence and pursue their passions while earning money.
To stand out as a social media influencer, it’s essential to create content that is visually appealing and captures the attention of your audience. Experiment with different types of content, such as photos, videos, stories, and live streams, to keep your followers engaged.
Benefits:
Be creative, and authentic, and share valuable information or entertainment that aligns with your niche.
Foster a sense of community.
Monetize your social media presence with sponsored posts, brand partnerships, and affiliate marketing.
Offers flexible working hours, allowing you to manage your studies and other commitments effectively.
Provides opportunities for personal branding and networking, which can open doors to other remote job opportunities in the future.
Pay: Potential for high earnings. This is more passive income than an hourly job.
7. Website or App Tester
Website and app testing is a highly sought-after remote job option for college students due to its flexibility and the opportunity to gain valuable experience in the tech industry.
As designers and developers strive to create the best user experience possible, they often hire individuals to find bugs and issues in their websites and apps. The role of a website or app tester is crucial in ensuring the functionality and usability of these digital platforms.
This feedback is invaluable for designers and developers as it allows them to make necessary improvements and optimize the performance of their websites and apps.
Benefits:
Excellent opportunity for college students to develop and showcase their skills in a professional setting.
Gain practical experience in the tech industry while balancing their academic commitments.
The flexible hours offered by these remote positions allow students to work at their own pace and manage their time effectively.
Pay: Platforms like UserTesting offer a payment of $10 per website tested. You can also find remote hourly wages ranging from $12 an hour to $16 an hour, with potential bonuses based on quality and productivity goals.
8. Video Editing
With the increasing demand for video content across various platforms, video editors play a crucial role in creating engaging and impactful visuals. This profession offers the opportunity to work from anywhere, making it ideal for college students who may have limited availability or prefer a flexible work schedule.
By adhering to the overall video brand messaging strategy, you can shape the final product and captivate the audience. This creative aspect of video editing allows college students to explore their artistic talents and develop their skills in storytelling and visual communication.
Benefits:
One of the key advantages of video editing as a remote job is the ability to work from any location.
Provides a platform for creative expression.
Video editing is a profession that is in high demand.
This high demand translates to a wide range of job opportunities and the potential for steady work, even for college students.
Pay: When it comes to money, beginner video editors can typically charge up to $45 an hour. However, it’s worth noting that rates can vary depending on factors such as experience, the complexity of the project, and client’s budget.
As college students gain more experience and build a strong portfolio, they can potentially increase their rates and earn a higher income from video editing projects.
9. Remote Research Assistant:
Many professors and researchers hire remote research assistants to help with data collection, literature reviews, and other research tasks. This type of job requires strong research and analytical skills, as well as the ability to work independently.
As a research assistant, you will have the opportunity to delve deeper into a specific subject or area of interest.
This can be particularly beneficial if you are considering pursuing further education or a career in that field. By immersing yourself in research projects, you will gain a comprehensive understanding of the topic and develop expertise that can set you apart from others.
Benefits:
Opportunity to work closely with experienced researchers and professionals in your field of interest.
Gain valuable insights, knowledge, and skills that can enhance your academic and professional development.
Learn research methodologies, data analysis techniques, and critical thinking skills that are highly transferable to future career opportunities.
Hands-on experience in conducting research projects.
Build a network of professional contacts in your field.
Depending on the nature of the research projects you are involved in, there may be opportunities to contribute to academic publications or presentations. This can be a significant achievement that adds to your academic portfolio and demonstrates your research skills to potential employers or graduate school admissions committees.
Pay: Compensation for remote research assistant positions varies depending on the project and the level of responsibility. This is a great way to be paid to go to school.
10. Audio Transcription
Audio transcription is a popular remote job for college students that involves listening to audio files and accurately transcribing the spoken content into written form. Additionally, it provides an opportunity to develop valuable skills such as speed and accuracy in typing, excellent listening skills, and efficient time management.
Determine the type of transcription work you want to specialize in, such as technical legal transcription or educational podcast transcription. This will help you target specific clients and tailor your skills accordingly.
Benefits:
Offers flexibility in terms of scheduling, allowing students to work around their classes and other commitments.
Opportunity to develop valuable skills such as listening, typing, and time management, which can be beneficial in various professional settings.
Create a portfolio showcasing your transcription skills and experiences.
Pay: Transcription can be a well-paying job, with freelancing gigs offering up to $0.36 per minute of transcribed audio.
11. Data Entry
Data entry is a popular remote job option for college students due to its flexibility and convenience.
This role involves managing electronic data by entering and updating information in computer systems. It is a job that can easily be done remotely, allowing students to work from the comfort of their own homes or dorm rooms.
However, it is important to be cautious when seeking data entry jobs online to avoid scams.
Benefits:
Minimal specialized skills are required.
Data entry skills can also be beneficial for future career opportunities.
Employers often value individuals with data entry skills, as it showcases their ability to handle and organize large amounts of information accurately and efficiently.
Valuable experience in working with digital documents and databases.
Pay: The average pay for data entry is $18 an hour.
12. Virtual Recruiter
A virtual recruiter is a professional who is responsible for posting online job advertisements and searching for potential candidates to fill various positions.
This remote job opportunity can be particularly beneficial for college students as it offers flexibility in terms of working hours and allows them to gain valuable experience in the field of recruitment while still pursuing their education.
Benefits:
Collaborating with hiring managers and clients to understand their specific requirements and preferences for potential candidates.
This role provides hands-on experience in recruitment, which can be beneficial for your future career in HR or related fields.
Building relationships with candidates, hiring managers, and clients can expand your professional network and open doors for future opportunities.
Pay: The average pay for virtual recruiters is around $20 to $30 per hour, providing the potential for a lucrative income.
13. Blogger
College students can create their own blogs and build an audience by regularly posting content in a unique niche.
While this may not be the easiest route to make money fast, it provides an opportunity to showcase writing skills and develop a cohesive writing style. Once a blog gains a solid stream of visitors, it can be monetized through ads and affiliate links.
However, you will be starting a small online business which has its perks.
Benefits:
This is 100% passive income.
Works as much as you want or as little as you want on your site.
A simple way to help your readers while making money.
Your site can grow as you graduate college until you decide to sell it.
Pay: Various based on traffic and monetization. But it is an easy way to invest $100 to make $1000.
14. Course Creator
As a course creator, you have the chance to teach others about a topic or course that you are passionate about while earning a steady passive income. This job allows you to create online tutorials or how-to videos to educate and engage students from all over the world.
You will be responsible for creating and managing the content on your website and other online platforms. This includes developing blog posts, videos, podcasts, and other educational materials to enhance the learning experience for your students.
Make use of hosting platforms like Thinkific, Teachable, or Kajabi to facilitate easy access to course-related information for your students. These platforms offer features such as course management, student progress tracking, and payment processing, making it convenient for both you and your students.
Benefits:
Opportunity to earn a steady income while pursuing your passion and sharing your knowledge with others.
Working remotely offers flexibility in terms of working hours, allowing students to manage their time effectively and balance their studies with their job.
Gain valuable experience in content creation, marketing, and online teaching, which can greatly enhance their resume for future career opportunities.
Pay: This is a passive income job where you will put the work in upfront and have less ongoing maintenance to run your course.
15. Stock Trader
Stock trading is a lucrative and dynamic field that offers college students the opportunity to work remotely and earn a substantial income. With the rise of online trading platforms and the increasing popularity of investing, stock trading has become a highly sought-after skill in today’s market.
Honestly, I know more and more high school students waiting to turn 18, so they can start life as a stock traders.
As a stock trader, you will be responsible for buying and selling stocks, bonds, and other financial instruments for your own portfolio. This role requires a combination of analytical skills, market knowledge, and the ability to make quick decisions under pressure.
Continuous learning and staying updated on market trends and strategies are crucial to staying competitive in this field. I highly recommend taking the Trade and Travel course to learn the basics of stock market investing.
Successful traders can earn substantial profits, but it is important to note that trading also involves the risk of financial losses.
Benefits:
Stock traders have the potential to earn significant income through their trading activities. Learn how fast you can make money in stocks.
Flexibility to trade before class and work from anywhere with an internet connection.
Opportunity to work independently and be your own boss, setting your own schedule and goals.
However, it is important to acknowledge the challenges that come with being a stock trader. The stock market is highly volatile and unpredictable, requiring constant monitoring and adaptation to changing market conditions.
Pay: Various significantly with your profit /loss ratio. But, a great way to make $1000 a day.
16. Customer Service Agents
Customer service agent remote jobs are a great option for college students looking to gain work experience while studying. These jobs allow students to provide excellent customer service from the comfort of their own homes, offering flexibility and convenience.
Remote customer service agents interact with customers through various communication methods such as phone, chat, and email. They answer customer questions, solve problems, and direct customers to the appropriate resources when needed. These jobs can be done part-time, making them ideal for students with busy schedules.
Benefits:
Require little experience or education.
Develop valuable skills such as communication, problem-solving, and time management.
Showcase their communication skills to future employers, which is a highly desirable quality in any job.
Pay: Earnings can range from $10 to $25 per hour, depending on the role and experience.
17. Photography
Photography is a form of artistic expression that allows college students to showcase their creativity.
You can experiment with different styles, compositions, and subjects to capture unique and visually appealing images. This creative aspect of photography can be fulfilling and enjoyable for college students who have a passion for visual arts.
Benefits:
Choose when and where to take photos, giving them the freedom to balance their academic and personal lives effectively.
Build a portfolio of their best work. A strong portfolio can open doors to more significant opportunities in the future, such as exhibitions, collaborations, or even full-time photography careers.
Earn income while honing their skills in product, stock, or event photography.
When stock images are licensed, earn passive income from the sales.
Pay: When it comes to pay, the average rate for a photographer is $24 per hour. However, it’s important to note that pay can vary depending on factors such as experience, location, and the type of photography gig.
18. Virtual Internships
Virtual internships provide valuable work experience and allow you to gain industry-specific skills while working remotely. Many companies offer virtual internships in fields like marketing, finance, and technology.
Having an internship in the field you want to pursue is an invaluable opportunity to gain practical experience and enhance your career prospects.
Additionally, virtual internships can provide you with a unique perspective on the field you want to pursue (and if you still want to pursue it).
Benefits:
Gain relevant work experience in your desired career field.
Practical experience will not only enhance your understanding of the industry but also demonstrate your competence and dedication to potential employers.
Greatly strengthen your resume.
Build a network of contacts in your desired field.
Pay: These internships may be paid or unpaid, but the experience and connections you gain can be invaluable for your future career.
Looking for Online Summer Job?
There are a plethora of online summer temporary jobs available for college students. You just have to decide what is interesting for you to do.
Also, think about ways you can build your resume for future employment after graduation.
If I could go back to college, I would focus on learning how to make your money work for you. That is one of the best life skills you can truly understand.
This list above has plenty of options for you to consider.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
FAQ
Many colleges and universities have career centers or job boards that specifically cater to remote job opportunities for college students.
Networking is crucial for college students when it comes to finding remote job opportunities. Reach out to your professors, classmates, and alumni who may have connections or knowledge of job opportunities.
This is smart if you want to know how to move out at 18.
Remote work requires a unique set of skills that allow individuals to effectively perform their job duties from a distance. In order to succeed in a remote job, college students should possess the following skills:
Time management: Remote work often provides flexibility in terms of scheduling, but it also requires individuals to manage their time effectively. College students need to be able to prioritize tasks, set deadlines, and stay organized to ensure they meet their work obligations.
Communication skills: Since remote work involves limited face-to-face interaction, strong communication skills are essential. College students should be able to effectively communicate through various channels such as email, instant messaging, and video conferencing.
Self-motivation: Working remotely requires a high level of self-discipline and motivation. College students need to be able to stay focused and productive without direct supervision. They should have the ability to set goals, stay on track, and meet deadlines without constant oversight.
Adaptability: Remote work often involves working with different tools, technologies, and platforms. College students should be adaptable and willing to learn new software or applications that are necessary for their role.
Problem-solving: Remote work may present unique challenges and obstacles that require critical thinking and problem-solving skills. College students should be able to analyze situations, identify potential issues, and come up with innovative solutions. This skill is particularly important when faced with technical difficulties or communication issues.
By honing these skills, college students can position themselves as valuable assets to remote employers and increase their chances of securing remote job opportunities.
When you’re applying for remote jobs, most of the time your potential employer will want to see some kind of portfolio that showcases your skills and experience.
You can create a portfolio by using a free online portfolio builder or by creating your own website.
With a visually appealing and user-friendly portfolio, you can make a lasting impression and increase your chances of landing your dream remote job.
Which Online Jobs for College Students Are Interesting To You?
There are a lot of great remote jobs for college students out there!
With a little bit of research, you can find the perfect job for your skills and interests.
Be sure to consider the pay, hours, and industry when you are looking for a remote job as well as career advancement.
For many students, working in college is a must! Because you know how to pay for college without parents is hard.
So, use these ideas to find the right job for you whether it is part-time or full-time.
And if all else fails, check out this list of low-stress jobs that pay well without a degree.
Know someone else that needs this, too? Then, please share!!
One of the first things that comes to mind about the state of California is its Pacific Ocean views and sunny beaches. With magnificent waves and sandy coves, boating and surfing, sightseeing and fishing, the picturesque California beach towns are top-tier. Whether you’re looking to move to California or want to relocate to a quaint coastal city, there are plenty of options to check out in the state.
But if you’re not sure where to start on your hunt for your favorite California beach town, we’re here to help. Redfin has put together a list of the 21 beach towns in California, from Mendocino to Long Beach. Let’s dive into some of California’s top beach cities, listed from north to south, so you can find the right place for you.
Northern California beach towns
#1: Crescent City
Median home price: $315,000 Crescent City, CA homes for sale Crescent City, CA apartments for rent
Starting off our list in Northern California is Crescent City, located just north of Del Norte Coast Redwoods State Park. You’ll find there are plenty of beaches to explore while living in Crescent City, such as Battery Point Beach and Pebble Beach. About 6,700 people live in this coastal California town. In Crescent City, you can walk along the B-Street Pier and the Point St. George Beach Trails, check out Beachfront Park, and explore the downtown area.
#2: Shelter Cove
Median home price: $425,000 Shelter Cove, CA homes for sale Shelter Cove, CA apartments for rent
Another one of Northern California’s great coastal towns to consider buying a home in is Shelter Cove. Home to just 860 people, there are plenty of beaches to visit like Black Sands Beach, Cove Beach, and Little Black Sands Beach. Some popular things to explore in Shelter Cove include hiking the Black Sands Beach Trail, stopping by the Cape Mendocino Lighthouse, and exploring the downtown area.
#3: Mendocino
Median home price: $958,000 Mendocino, CA homes for sale Mendocino, CA apartments for rent
Mendocino has just about 700 residents – and amazing views of the Pacific Ocean. There are lots of beaches to explore on a warm California day, like Agate Beach and Big River Beach. Make sure to hike along the Point Mendocino Trail, explore the Mendocino Headlands State Park, and check out cafes and markets downtown if you move to Mendocino.
#4: Half Moon Bay
Median home price: $1,665,000 Half Moon Bay, CA homes for sale Half Moon Bay, CA apartments for rent
Home to beautiful beaches like Dunes Beach, Francis Beach, Half Moon Bay Beach, Miramar Beach, Poplar Beach, Roosevelt Beach, Surfer’s Beach, Vallejo Beach, Venice Beach, and Wavecrest Beach, there are countless places to spend a beach day. With roughly 11,400 residents in Half Moon Bay, make sure to also hike the California Coast Trail, camp at one of the beachside campgrounds, or stroll through downtown and grab some fresh seafood.
#5: Santa Cruz
Median home price: $1,607,500 Average rent for a one-bedroom apartment: $3,951 Santa Cruz, CA homes for sale Santa Cruz, CA apartments for rent
The iconic coastal town of Santa Cruz has about 61,900 residents, making it another great place to add to your list. You’ll find stunning beaches such as Cowell Beach, Lighthouse Field State Beach, Mitchell’s Cove Beach, Natural Bridges State Beach, Santa Cruz Beach, and Seabright Beach. After moving to Santa Cruz, you can spend the day at Santa Cruz Beach Boardwalk, enjoy nature at the Natural Bridges Monarch Trail, and check out downtown Santa Cruz where you’ll find farm-to-table restaurants and local surf shops.
#6: Monterey
Median home price: $958,750 Monterey, CA homes for sale Monterey, CA apartments for rent
Home to roughly 29,900 people, Monterey is a great beach town to consider renting or buying a home in. Some beaches you can visit include Del Monte Beach, Monterey State Beach, and San Carlos Beach. In addition to their beaches, there are plenty of activities to do in this coastal city. You can explore the famous Monterey Bay Aquarium, check out the shops and fish restaurants along Fisherman’s Wharf, and explore the historic spots in Cannery Row, among many other local favorites.
Central California beach towns
#7: Cambria
Median home price: $769,000 Cambria, CA homes for sale Cambria, CA apartments for rent
With a population of about 5,600, Cambria is a charming coastal area to live in, located in the heart of the central California coast. There are plenty of beaches to explore as well, specifically Moonstone Beach. Make sure to take a tour of the expansive Hearst Castle, enjoy one of the amazing restaurants in Downtown, or hike the Bluff Trail or Santa Rosa Creek Trail once moving here.
#8: Morro Bay
Median home price: $1,007,500 Morro Bay, CA homes for sale Morro Bay, CA apartments for rent
Morro Bay has stunning beaches such as Morro Rock Beach and Morro Strand State Beach, perfect for soaking up the sun or venturing out into the surf. Make sure to explore Morro Rock and see the otters playing in the water, grab some fresh seafood for lunch or dinner in downtown Morro Bay, and check out Morro Bay State Park if you decide this beach town is right for you.
#9: Pismo Beach
Median home price: $960,000 Pismo Beach, CA homes for sale Pismo Beach, CA apartments for rent
Roughly 8,000 people live in this town where you’ll find beaches like Pismo Beach and Spyglass Beach Tide Pools. It’s also conveniently located near San Luis Obispo, where you’ll find farm-fresh produce and local shops. Some other fun activities to do in Pismo Beach include exploring downtown Pismo Beach and getting a cup of clam chowder, hiking the Meadow Creek Trail, and checking out one of the waterfront parks like Dinosaur Caves Park.
Southern California beach towns
#10: Santa Barbara
Median home price: $1,785,500 Average rent for a one-bedroom apartment: $3,495 Santa Barbara, CA homes for sale Santa Barbara, CA apartments for rent
This seaside town has a population of 88,300 and there are many beaches to spend the day at. In Santa Barbara, you can visit 1000 Steps Beach, Arroyo Burro Beach County Park, East Beach, Leadbetter Beach, Mesa Lane Park, Santa Barbara Beach, and West Beach. You’ll also have plenty of activities to explore during your free time, like checking out the historic buildings in Lower State, strolling along Stearns Wharf, and visiting the Santa Barbara Zoo.
#11: Carpinteria
Median home price: $1,086,000 Carpinteria, CA homes for sale Carpinteria, CA apartments for rent
In Carpinteria there are numerous beaches to explore if you decide to move to this cozy oceanfront town. Some of these beaches include Carpinteria City Beach, Carpinteria State Beach, and Rincon Beach. This town is home to 13,100 inhabitants and you’ll find a variety of other activities like hiking along the Carpinteria Bluffs, visiting the California Avocado Festival in October, and exploring the Tar Pits Park.
#12: Ventura
Median home price: $799,500 Ventura, CA homes for sale Ventura, CA apartments for rent
Ventura has plenty of beaches to choose from, great for a sunny Southern California day. Some well-known spots are Harbor Cove Beach, Mother’s Beach, Seaside Park, and Ventura Beach. If you’re looking for a day spent in town, you can have some fresh seafood at one of the restaurants in downtown Ventura, explore the Ventura Boardwalk, and hike the Emma Wood River Trail.
#13: Malibu
Median home price: $3,695,000 Malibu, CA homes for sale Malibu, CA apartments for rent
There are plenty of beaches to visit if you decide that Malibu is the right beach town for you – El Matador State Beach, El Pescador State Beach, El Sol Canyon Beach, Malibu Beach, Malibu Lagoon State Beach, La Piedra Beach, Las Tunas Beach, Lechuza State Beach, Paradise Cove Beach, Playa San Juan Leighton, Point Dume State Beach, Nicholas Canyon Beach, and Zuma Beach. In this town of 10,400 residents, you can also hike at Coral Canyon Park or Solstice Canyon, check out the Malibu Bluffs, and grab some fresh beachfront eats.
#14: Santa Monica
Median home price: $799,500 Average rent for a one-bedroom apartment: $3,295 Santa Monica, CA homes for sale Santa Monica, CA apartments for rent
Santa Monica has about 91,100 residents and is one of the many famous Southern California beach towns you’re likely to recognize on this list. You can take in the waterfront views at Palisades Beach, Santa Monica State Beach, and Sorrento Beach. If you’re looking to check out Santa Monica, you can also spend the afternoon exploring the Santa Monica Pier, visit Palisades Park, and stop by one of the many amazing local restaurants.
#15: Long Beach
Median home price: $790,000 Average rent for a one-bedroom apartment: $3,155 Long Beach, CA homes for sale Long Beach, CA apartments for rent
Another coastal Southern California city to check out is none other than Long Beach. There are a few quintessential beaches to spend the day at, like Alamitos Beach, Bayshore Beach, Long Beach City Beach, Junipero Beach, and Mother’s Beach. Other activities in Long Beach include taking a tour of the Queen Mary or the Aquarium of the Pacific, exploring downtown Long Beach, or learning to surf.
#16: Huntington Beach
Median home price: $1,150,000 Average rent for a one-bedroom apartment: $2,420 Huntington Beach, CA homes for sale Huntington Beach, CA apartments for rent
You’ll find a plethora of beaches in Huntington Beach – Bolsa Chica State Beach, Huntington State Beach, and Sunset County Beach. With a population of 13,100, this mid-sized beach town is a great option if you’re looking for a slightly busier atmosphere. If you want options other than a beach day you can tour the Huntington Beach International Surfing Museum, check out the shops and restaurants along the beachfront streets, and stroll along the Huntington Beach Santa Ana River Trail.
#17: Newport Beach
Median home price: $2,750,000 Newport Beach, CA homes for sale Newport Beach, CA apartments for rent
Of course, the oceanfront town of Newport Beach had to be included on our list. With beaches like Balboa Beach, Crystal Cove State Beach, Little Corona Del Mar Beach, Little Treasure Cove, and Newport Beach, there are countless options to choose from. If you’re looking to move to Newport Beach, there are about 84,800 people living in the city. Newport Beach has plenty of other activities including exploring Newport Beach Pier and Balboa Pier, hiking the Crystal Cove Trail, and checking out Balboa Island.
#18: Laguna Beach
Median home price: $2,743,250 Average rent for a one-bedroom apartment: $3,000 Laguna Beach, CA homes for sale Laguna Beach, CA apartments for rent
Another classic Southern California beach town is Laguna Beach, home to about 22,800 residents. With beaches like Aliso Beach, Crescent Bay Beach, Cress Street Beach, Diver’s Cove, Laguna Beach, Table Rock Beach, Thalia Street Beach, Treasure Island Beach, Victoria Beach, West Street Beach, and Woods Cove, there’s always a new place to see the coastline. In addition to these beautiful beaches, make sure to visit the Top of the World, check out Main Beach Park, and explore all the local restaurants, cafes, and shops by the beach.
#19: Dana Point
Median home price: $1,602,500 Average rent for a one-bedroom apartment: $3,768 Dana Point, CA homes for sale Dana Point, CA apartments for rent
With beaches like Capistrano Beach Park, Dana Strands Beach, Doheny State Beach, Laguna Niguel Beach, and Salt Creek Beach, it’s no surprise that Dana Point also made our list. Home to 32,800, there is plenty to do in this awesome coastal city. For example, you can explore the Dana Point Caves, grab a meal at the Dana Point Harbor, or camp at Doheny State Beach if you decide to move to Dana Point.
#20: San Clemente
Median home price: $1,788,500 Average rent for a one-bedroom apartment: $2,750 San Clemente, CA homes for sale San Clemente, CA apartments for rent
San Clemente is home to 63,900 people and has countless beaches to visit. Some of the many beaches include North Beach, San Clemente City Beach, San Clemente State Beach, and T-Street Beach. Or if you’re looking for something a little different, you can stroll along the Sea Summit Trail, stop by the Casa Romantica Cultural Center and Gardens, and check out the San Clemente Pier.
#21: La Jolla
Median home price: $2,002,500 La Jolla, CA homes for sale La Jolla, CA apartments for rent
La Jolla, a neighborhood of San Diego, is the last beach town in California on our list. Home to beaches like Black’s Beach. Jolla Cove, La Jolla Shores Beach, Marine Street Beach, Shell Beach, Torrey Pines State Beach, Whispering Seas Beach, and Windansea Beach, there are a variety of options whether you’re looking for a quiet beach day or a morning spent out on the waves. You can also spend the day at Cuvier Park, explore museums like the Museum of Contemporary Art and the Birch Aquarium, and visit the Sea Cave Lookout Point.
Note, this list is not comprehensive of all the beach towns in California. Median home sale price data from the Redfin Data Center during June 2023. Average rental data from Rent.com June 2023. Population data sourced from the United States Census Bureau.
Tampa, Florida, known as “The Big Guava” to locals, is a historic city in the greater Tampa Bay Metropolitan area, which consists of Tampa, St. Petersburg, and Clearwater. Originally a small town, the cigar industry helped put Tampa on the map. In the past few decades, the area has seen significant growth and has become known for its lovely beaches, rich history, and lively sports scenes. But is Tampa a good place to live? Luckily, we’ve got you covered.
If you’re looking at homes for sale in Tampa or apartments for rent and are considering making the move, this Redfin article is for you. We’ll dive into 10 pros and cons of living in Tampa to help you decide if the city is right for you.
5 pros of living in Tampa, FL
There’s a lot to love about living in Tampa, from pristine beaches to lively sporting events. Here are five of the best reasons to make the move.
1. Affordable cost of living
The cost of living in Tampa is relatively affordable,especially compared to other cities in Florida. Tampa’s housing costs, in particular, are cheaper than nearby cities and on par with the national average. For example, the median sale price of a house in Tampa is $425,900, compared to $560,000 in Miami and $550,000 in Fort Lauderdale. This helps make Tampa an attractive option for those looking for an affordable place to live in Florida near the coast.
If you’re looking to rent an apartment in Tampa, the average rent is $1,543 – which is just slightly above the national average.
2. Weather
Tampa’s climate is subtropical, which means mild, dry winters and hot, humid summers. Daily high temperatures rarely drop below 70 degrees Fahrenheit in the winter or rise above 100 degrees in the summer. If you prefer warm weather and year-round sun, Tampa’s climate will be perfect for you. This is especially true for those seeking refuge from colder northern climates.
3. Outdoor activities
Tampa’s location on the Gulf Coast of Florida means it has numerous beautiful beaches and coastal trails, including Clearwater Beach, Fort de Soto Park, and Archibald Beach Park. It also boasts many state parks and nature reserves, and is only a few hours from Everglades National Park. The bay and nearby rivers also provide ample opportunity for water sports such as boating, kayaking, and fishing.
4. Sports
Tampa is a sports lover’s paradise. It’s home to three major professional sports teams: the Buccaneers in the NFL, the Rays in MLB, and the Lightning in the NHL. Tampa also hosts the Outback Bowl for college football, has numerous golf courses and fishing spots, and is a haven for cyclists and runners looking for flat training days.
5. Community events
Tampa has a rich culture, making for a wide array of celebrations, events, and community get-togethers. There are dozens of popular annual events, many of which take place in the pleasant winter months. Some notable examples include the Gasparilla Pirate Fest, the Florida State Fair, Tampa Pride, and Winter Village.
5 cons of living in Tampa, FL
Like with any city, there are downsides of living in Tampa. Here are five to keep in mind.
1. Hurricanes
As a part of Florida, Tampa is susceptible to hurricanes, which are possible from June through November every year. These natural disasters can cause significant damage to property and disrupt daily life when they hit. If you do move to Tampa, make sure you prepare your home for a hurricane and understand your local building codes, evacuation routes, and emergency procedures.
2. Heat and humidity
While the warm weather is appealing to many, the intense heat and humidity of the summer months can be a drawback. It’s not uncommon for temperatures to reach into the high 90s with high humidity levels from June through August, with plenty of rainfall as well.
3. Traffic
As Tampa continues to grow, traffic congestion has become a more significant problem. In fact, it has some of the worst traffic in the US, and in 2022 was the 201st most congested metropolitan area. This is most notable during the morning and evening rush hours, and can add considerable time to commutes.
4. Bugs and wildlife
Florida’s warm and subtropical climate makes it home to a variety of bugs, including mosquitoes, palmetto bugs, and termites, which can wreak havoc on buildings and be an annoyance from day to day. Additionally, Florida is home to numerous unique animals, including the American alligator, Florida panther, and dozens of dangerous aquatic species.
5. Flat landscape
Tampa, like much of Florida, is very flat. In fact, Florida is the flattest state in the US, with the highest point sitting at just 345 feet above sea level. While this may not be an issue for some, if you enjoy hiking, mountain biking, and other mountainous outdoor activities, you will likely be disappointed.
The bottom line: Is Tampa a good place to live?
Living in Tampa has its share of pros and cons. The city offers an affordable cost of living, a vibrant cultural scene, along with pleasant weather and more. However, take into account factors like high humidity, hurricanes, flooding, and traffic congestion. In the end, the decision to call Tampa home depends on what matters to you.
Servicing, Lead Source, AI, MERS Review Products; Cybersecurity News; STRATMOR on Artificial Intelligence
<meta name="smartbanner:author" content="We now have a native iPhone and Android app. Download the NEW APP”>
This website requires Javascrip to run properly.
Servicing, Lead Source, AI, MERS Review Products; Cybersecurity News; STRATMOR on Artificial Intelligence
By: Rob Chrisman
8 Hours, 47 Min ago
As the U.S. faces nationwide flight delays, one must ask if there are processes in place for the FAA to deal with them. “Trust the process” is a common thing to hear, but attorney Brian Levy reminds us of why process is important in the actions of government in light of the FHFA’s rescinded DTI pricing. The CFPB knows a thing or two about the process, and the Consumer Financial Protection Bureau issued an order against Nebraska’s ACI Worldwide and one of its subsidiaries, ACI Payments, for improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions. ACI’s data handling practices negatively impacted nearly 500,000 homeowners with mortgages serviced by Mr. Cooper (formerly known as Nationstar). “By unlawfully processing erroneous and unauthorized transactions, ACI opened homeowners to overdraft and insufficient funds fees from their financial institutions. Today’s order requires ACI, among other things, to pay a $25 million civil money penalty.” (Today’s podcast can be found here and is sponsored by Visio Lending. Visio is the nation’s premier lender for buy and hold investors with over 2.5 billion closed loans for single-family rental properties, including vacation rentals. Through its top-rated Broker Program, Visio brokers can earn up to 5 percent. Hear an interview with Visio Lending’s Jeff Ball on all things rental lending and debt service coverage ratio – DSCR – lending.)
Lender and Broker Services, Products, and Software
“Need a third-party reviewer for your 2023 MERS® Annual Report? Look no further than Falcon Capital Advisors. Only our review team consists of former members of the MERS legal, operations, membership, and compliance departments, who have first-hand experience developing, reviewing, and enforcing the requirements of the Annual Report. The MERS® Annual Report is not due until 12/31, but the submission window has already opened. Don’t delay. Contact Tim Renner today to learn more about how Falcon can put our unmatched experience and expertise to work for you. Discounted pricing available to those who sign up by September 1.”
Hey there, mortgage industry movers and shakers! Let’s talk tech, baby! Technology has been revolutionizing the mortgage industry, from LOS systems and underwriting systems to cloud-based credit reports. But wait, there’s more! Artificial Intelligence (AI) is on the horizon, and we’re here to explore how it’s going to shake things up. Love it or hate it, understanding its potential is crucial to staying relevant in the industry. Our free eBook is your ticket to discovering how AI can take your customer experience to the next level, boost productivity, slash costs, keep you compliant, streamline workflows, and give you a crystal ball into your borrowers’ future. Don’t miss out! Download Artificial Intelligence: 7 Ways AI is Transforming the Mortgage Industry today. Follow Birchwood Credit Services to gain access to a plethora of industry-related news and informative content that will aid you in closing more loans at lightning speed!
Own Up is the nation’s only mortgage concierge marketplace enabling mortgage companies, banks, credit unions and brokers to access exclusive, high intent and highly qualified borrowers. A recipient of numerous accolades, including Fintech Breakthrough’s “Best Digital Mortgage Platform,” Own Up is currently onboarding select lenders to further its national expansion. Own Up seamlessly integrates into all major lender CRMs, lead management systems and pricing engines. Lenders interested in acquiring qualified leads with industry-leading conversion should reach out to [email protected] to learn more.
Servicing Products and Tools
It’s time for a quick riddle! Every company wants this, but few achieve it. And when you have it, it speaks for itself. The answer? CREDIBILITY. Mortgage servicers of all sizes trust their portfolios to MSP®, Black Knight’s loan servicing system – and for good reason. MSP has consistently set the industry standard for delivering best-in-class functionality and fully integrated solutions that support every servicer’s unique needs. No need to take our word for it, though, just check out what MSP clients are saying. Credibility speaks for itself. If you want to learn more about the proven system capabilities to transform your servicing operations, contact our team today.
Top mortgage subservicer PHH is asking “what if?” What if you could reduce your servicing complaints by 75%? What if you could save more than $1 million per year just by switching subservicers? What if your subservicer could help reduce defaults and increase recapture? What if your customers loved your servicing technology, including mobile apps, videos, and online chat capability? No other servicer has been more highly decorated for servicing excellence over the past two years than PHH with top awards from Fannie Mae STARTM and Freddie Mac SHARPSM. Clients like Curtis Dair, CFO of Sierra Pacific Mortgage Company, said “PHH has shown an unwavering commitment to providing the highest levels of customer service.” In 90-120 days, PHH can help you make the jump to the next generation of subservicing: cost savings, customer-centric tech, and award-winning service. Find out how to join the PHH Mortgage family, starting with a call or email to Chris Sabbe at 415-828-1222.
Prepare to act on your servicing portfolio when delinquencies increase! Do you have the right team in place to help manage your servicing portfolio when borrowers become delinquent? When it comes to mortgage delinquencies, getting in front of distressed borrowers is important. Velocity Servicing™, a LoanCare® division focused on specialty servicing and investor ROI, can provide you with critical and specialized support for your distressed loan portfolio. Within 12 months, Velocity achieved a 36% lift in loan resolution compared with traditional servicing models for their specialty servicing clients. We accomplish return on investment earlier through an intelligent network of triggers, exceptions, and loan-level conditions to keep your most distressed customers’ loans on their pathway to performance. Velocity’s team prioritizes maximizing opportunities to return your distressed loans to performing portfolios faster by using an award-winning data analytics platform to drive payment success. Click to learn more or call today: 646-361-6808.
STRATMOR on Artificial Intelligence
Let’s face it: AI is part of our industry’s future, and we’d all like to have insight into its potential impact. In the June issue of STRATMOR Group’s Insights Report, STRATMOR experts including Senior Partner Garth Graham, Senior Advisor Brett McCracken and Principals Jennifer Fortier, Jennifer Smith and Kris van Beever answer questions about artificial intelligence and its future in our industry. For the AI perspective, STRATMOR went to ChatGPT, the current poster child for AI, and asked it the same questions posed to STRATMOR’s team. On some questions STRATMOR and ChatGPT agree; on others, the experts with decades of mortgage experience show why AI isn’t the be all, end all answer. Read, “The Rise of AI: STRATMOR Experts and ChatGPT on Artificial Intelligence in the Mortgage Industry,” for a glimpse into what may be a best-case scenario for how we share the future with these powerful new technologies in the June Insights Report.
Cybersecurity and Protection
Kris Van Beever with STRATMOR observes, “Everyone needs to be ultra-diligent in watching out for fraudulent texts and emails. With the availability of highly functional AI, perpetrators of fraud are now able to leverage this new tech to eliminate many of the things that used to give them away. All employees should be trained in looking for misspellings, poor grammar, and otherwise inappropriate tone. ChatGPT and similar tools now eliminate all the obvious telltale signs of fraudulent messages. They can even mimic the style and tone of humans with references that are near impossible for us to decipher. We may be heading into an electronic world where we have to use complicated multi-factor authentication for all interactions. I am not claiming the sky is falling… It has fallen.”
Along these lines, FundingShield announced a partnership with Mastercard. “As payment related fraud spikes, we are addressing the cybersecurity-based challenges with solutions that deepen our ability to serve the mortgage and real estate sector but provide industry agnostic payment verification tools. FundingShield entered a partnership with Mastercard to leverage its open banking platform delivered by Finicity, a Mastercard company. FundingShield provides live, source data-based technology products and SaaS solutions that have been used to secure the funds of over $2.5 trillion in mortgage closings.”
FundingShield CEO Ike Suri shared, “FundingShield has over 95% coverage of licensed service providers in the real estate, mortgage, closing and settlement space in our live repository. This partnership with Mastercard allows us to leverage its open banking connectivity of over 95% of U.S. based deposit accounts for consumer-permissioned access to real-time, bank-sourced data to expand our B2B and B2B2C payment verification solutions for clients.”
“FundingShield’s solutions manage risk for B2B and B2B2C firms facing a surge of cybersecurity threats like hacking and fraud. FundingShield’s payment verification solutions support bank account ownership that is confirmed with consumer-permissioned data from the banking institution where the account is held, using Mastercard’s open banking platform. This source data is then used to help approve payments ahead of a FundingShield client initiating a wire, ACH, or other payment method from the customer’s banking institution.”
Capital Markets
Economies have so far proved more resilient to rate hikes than most had expected, with the Fed’s benchmark rate now north of 5%. There are several explanations for the phenomenon, ranging from pandemic-era forces and tight labor markets to wage gains and consumer spending. It also takes time for higher rates to filter through the economy, with many economists still anticipating a recession over the next six to 18 months if central banks extend their hiking cycles. The yield curve between the 2-Year Treasury (US2Y) and 10-Year (US10Y) has even widened by more than 100 basis points, marking the greatest disparity between the two instruments since late 1981. But…
Looking forward, expectations stubbornly call for a recession starting in a few months, but various economic data are telling a far different story. Stronger than expected durable goods orders data and an above-consensus and highest year-to-date Consumer Confidence report for June released yesterday morning helped harden sentiment that the Fed will remain hawkish, with rates subsequently rising as a result. It was a busy day for data, most of which depicted continued strength and resilience in several corners of the U.S. economy, including the May New Home Sales report that came in at 763k, easily beating 665k estimates. That was the fastest annual rate of new home purchases in more than a year, and up 15.5 percent compared to May of last year. Markets also responded to the day’s $43 billion 5-year note auction, which met weaker demand than Monday’s stellar 2-year note sale.
The May New Home Sales figures are consistent with the recent firming in home price growth and homebuilder optimism over the past few months. Steady buyer demand and low existing home supply continue to bolster the new home market across all regions. May saw the second largest increase on record for sales of new homes that have not yet been started, which surged to an annual rate of 195k, the highest level since January 2022. Also aiding homebuyers is stalling home price growth: the Case-Shiller Home Price Index reported an annual overall decrease of 0.2 percent in April. The median new home price fell 7.6 percent on a year-over-year basis to just over $416k. The average sales price fell 6.6 percent to $487k. Separately, FHFA reported that home prices rose 0.7 percent month-over-month in April and 3.1 percent on a year-over-year basis, though there were declines in the West and the Mountain states.
On the central bank front, ECB President Christine Lagarde indicated yesterday that the European Central Bank will likely hike rates in July and that additional rate hikes may be required to thwart inflation. That largely echoes the Fed’s message that rates are likely to remain elevated throughout 2024. However, there have been some Fed members that think the Fed should stand pat, such as Atlanta Fed President Raphael Bostic. “My baseline is that we should stay at this level for the rest of the year (to assess the impacts of the Federal Reserve’s rate-hiking cycle on the real economy),” he said. Market participants are slowly capitulating to the Fed’s “higher rates for longer” theme, as pricing in fed funds futures have largely priced in another 25-basis points rate hike at the upcoming July FOMC meeting. That said, markets continue to price in a nearly one-in-three chance that the Fed pulls an about-face and cuts rates by a quarter percentage point by December.
Mortgage applications from MBA kicked off today’s economic calendar, increasing 3.0 percent from one week earlier. The week’s results included an adjustment for the Juneteenth holiday. We’ve also received Advanced indicators for May with the goods trade deficit (down to $91.1 billion which could add to GDP), wholesale inventories (+.8 percent), and retail inventories (+.8 percent, strong). Later today brings remarks from Fed Chair Powell in Portugal and Treasury auctions of $22 billion reopened 2-year FRNs and $35 billion 7-year notes. We begin the day with Agency MBS prices a few ticks (32nds) better, the 10-year yielding 3.73 after closing yesterday at 3.77 percent, and the 2-year’s at 4.74.
Employment and Transitions
“Homestead Funding’s commitment to community service is evident through the involvement of our Loan Originators in various volunteer activities. By living in the same areas they serve, our LOs are deeply connected to their communities and actively contribute to their betterment. Debb, for instance, selflessly volunteers her time as a driver for Disabled American Veterans, supporting veterans in need. Joel’s annual golf game raises funds for the local Boys & Girls Club, showcasing his commitment to empowering youth. Phil’s involvement in National EMT Day demonstrates his recognition of the vital role emergency medical technicians play in saving lives. Mark’s hockey team raises funds for Make-a-Wish, supporting critically ill children. We not only recognize the efforts of our LOs, but we provide corporate, marketing, and financial support, which helps amplify their impact and enables them to contribute more effectively. Interested in pursuing a career with Homestead Funding? Call Michele Teague (518)-368-1494.”
Agile, the industry’s first MBS fintech, has appointed a new company president, Greg Vacura, former SVP of Correspondent Pricing at Wells Fargo Funding. “He’s now been tasked with applying that deep industry expertise towards achieving Agile’s mission of creating a better MBS market… to fulfill Agile’s mission to create a better mortgage-backed securities (MBS) market through increasing liquidity and automation in TBAs, MBS pools, and AOTs.
And there was this news recently out of St. Louis: Employee-owned USA Mortgage, announced new leadership roles for three senior executives. Announcing the transition was Doug Schukar, who formed DAS Acquisition Company, LLC, (marketed as USA Mortgage nationwide) in 2001. Schukar handed off his duties as DAS Acquisition’s Chief Executive Officer to current President and Chief Operating Officer Linda Pring. (Schukar retains his role as Chairman of the Board.) Ron Mueller assumed the role of President of DAS Acquisition. And Dani Ploch, Chief Administrative Officer, succeeds Pring as the company’s Chief Operating Officer. The company has offices in 34 states and licensed in 49 plus the District of Columbia. Currently, it employs nearly 800 people at 142 locations nationwide.
Download our mobile app to get alerts for Rob Chrisman’s Commentary.
Share via Social Media:
All social media shares will include the image and link to this page.
