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Apache is functioning normally

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Interior announced this week its plans to arrange the sale of federal land to the State of Nevada in an effort to spur construction of affordable housing units in the Las Vegas metropolitan area.

The arrangement, codified in a memorandum of understanding (MOU) signed by both departments, establishes an arrangement to sell federal lands to the state at a rate of $100 an acre, far below the land’s market value. The sold land will be used for “the construction of critically needed affordable housing projects in Southern Nevada,” according to an announcement from HUD.

“We are proud of the partnership with the Department of the Interior to help families in Nevada get access to homes they can afford,” said HUD Deputy Secretary Adrianne Todman. “This builds on the Biden-Harris Administration’s efforts announced last week to ensure an increase in housing supply to lower costs across the country.”

Sen. Catherine Cortez Masto (D-Nev.) was a key player in the development of the arrangement, according to local reporting by the Las Vegas Review-Journal.

“Nevada is facing an affordable housing crisis and we need to be doing more to ensure we can build more homes for working families,” Cortez Masto said in a statement. “For too long developing affordable housing on public lands in Nevada has been bogged down by an inefficient process, and I pushed for these vital improvements that will make it easier to build more homes for Nevada’s working families.”

The arrangement and inter-departmental collaboration is made possible by the Southern Nevada Public Land Management Act (SNPLMA) of 1998, which “allows the Department of the Interior’s Bureau of Land Management (BLM) to sell public lands within a specific boundary around Las Vegas, Nevada, for development,” HUD detailed.

Additional authority is established in a specific section of the law since the land is being sold well below fair market value.

“Although SNPLMA requires parcels to be sold for fair market value to fund education, water and public lands projects in Nevada, Section 7(b) of the Act allows state and local governments to purchase land for a nominal cost to support affordable housing,” HUD said.

Within Clark County – the area that contains the Las Vegas metro area – officials say that there is a shortage of approximately 85,000 housing units, echoing issues being faced across the country.

“Clark County has long advocated for more land to alleviate affordable housing challenges and recently worked with the BLM to negotiate the process reflected in the MOU,” a county spokesperson told the Review-Journal. “While this took some time to be formalized, we are happy this is moving forward now to benefit our community in the long-term.”

Source: housingwire.com

Apache is functioning normally

Just down the street from my family’s Venice home, workers are smoothing plaster inside a 6,000-square-foot new house whose owners, a young couple from the Bay Area, will soon have a property worth $7 million.

Across from that mansion-to-be is an 11-unit apartment building whose cracked stucco could use a new coat of its mustard-colored paint. The families that live there come mostly from Oaxaca, Mexico, and many of the adults work as employees at restaurants in Venice and Marina del Rey.

Los Angeles is a city historically segregated by race and class. But in our slice of the city, multimillionaires in newly built villas live side by side with the affordable apartments of the people who clean their pools, watch their children and cook their El Pollo Loco orders.

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My family’s neighborhood may be an outlier — or moving inexorably toward full gentrification — but at least for the last three decades, it has also served as vibrant proof that the notion that affordable housing lowers property values is overblown, if not flat-out wrong.

That enduring belief has contributed to widespread not-in-my-backyard opposition that makes building affordable housing in higher-income areas so difficult.

“It is total NIMBYism,” said Adlai Wertman of USC’s Marshall School of Business. “It’s ‘I want to help poor people, just not in my neighborhood.’”

Our neighborhood provides plenty of anecdotal evidence that mixing housing and income levels doesn’t sink property values. In a four-block area, low- and moderate-income apartment buildings and multifamily units are sprinkled among six mega-mansions and older, middle-class single-family homes like ours, which was built in 1924. The lower-income units are not government-subsidized.

In the mustard-colored building, Marin Ceja, a self-employed pool technician, pays $2,000 per month for his two-bedroom apartment, more than $3,000 less than the average for a two-bedroom rental in Venice. Assuming Ceja’s across-the-street new neighbors financed their home with 20% down, they’ll be paying $20,000 per month.

The presence of lower-cost multiunit buildings hasn’t driven down the resale value of homes. The average sale price of homes in Venice has increased by a million dollars in the last 10 years. In the last year, while home prices have declined by 7% countywide, in our neighborhood they rose over 4%.

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Numerous studies show our corner of Venice, east of Lincoln Boulevard and north of Venice Boulevard, is not unique. Low-income housing has a positive impact, or no impact, on neighborhood house values, according to a majority of studies reviewed by A-Mark Foundation, the research and policy nonprofit I lead. Two studies concluded that low-income housing had negative effects on property values in some specific cases.

One 10-year study that looked at property values in the least affordable housing markets in the U.S. — 45% of which were in California — found that newly built low-income housing had no effect on state property values.

That’s been the experience of affordable housing builders too. Loren Bloch, who spent decades developing affordable housing in Southern California, told me that when he insisted on building 22 low-income housing units along with 37 market-rate units in Oxnard in 2001, other developers thought he was crazy.

“But people sucked them up,” he said, “and they lived side by side together.”

Oxnard real estate prices around Bloch’s development have risen by double digits since then.

Tom Safran spent four decades convincing wary, lawyered-up residents that mixed neighborhoods work for everyone, so long as the building quality is high.

After finally winning city approval for 154 affordable units in Del Rey on Culver Boulevard, Safran faced off against a handful of neighbors whose lawsuits delayed construction two and a half years, before they settled on 124 units — which more than 1,800 people applied for in 2013.

His company faced similar opposition to his Thatcher Yard development in Venice, despite bringing in Steve Giannetti, who designed Lady Gaga’s Malibu spread, as architect. Residents fought to scale back the project from 160 units to 98, overruling Safran’s contention that as long as valuable Venice land was available, it should house the most diverse kinds of units, and the largest number of them, that was reasonable.

“Communities work best when they have a range of incomes,” Safran told me. “When people who teach school or do policing or work behind the counter in the dry cleaners don’t have to drive an hour and a half, it creates a more successful society.”

In Los Angeles County, home prices have risen twice as much as wages in the last decade, and the lack of affordable housing drives homelessness, poverty, population loss and glaring income inequality. That’s why Gov. Gavin Newsom and L.A. Mayor Karen Bass have both called for every neighborhood, rich, poor or in-between, to accept affordable housing.

But the more upscale the neighborhood, the more resistance there is. Upper-income residents who stand in opposition wield a variety of excuses — increased traffic (Manhattan Beach), overcrowding (Redondo Beach), or potential harm to migrating mountain lions (Woodside, really?).

“We’ll never get affordable housing in the Palisades,” Wertman said of the upscale Democratic-voting neighborhood. “The world will end first.”

Former President Trump, as he often does, said the quiet part out loud in 2020 when he blocked an Obama-era rule intended to reduce racial segregation in communities. “I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood,” Trump tweeted at the time.

But even studies looking specifically at “more affluent” neighborhoods have found the fears of affordable housing tanking housing prices and increasing crime are unfounded. A 2022 UC Irvine study found that on average in such areas in Orange County, home values increased following the opening of affordable housing.

“Overall, the data on actual home sales do not support the claim that affordable housing depresses local home values,” the authors concluded.

A 2019 Stanford University study showed that housing built using low-income housing tax credits led to a decrease in crime in lower-income neighborhoods and “does not increase crime in high-income areas.”

The Stanford study, unlike several others, did find that low-income housing built in higher-income neighborhoods decreased property values by 2.5%. That could be a result of increased housing supply, said Gary Painter, professor of social innovation at USC, or of residents preferring not to live near multifamily buildings. No studies have disentangled the impact of these two possibilities, he said.

Back to my neighborhood, where below-market rents mix with high-dollar mortgages and taqueros live beside techies. The diversity is not the product of planning so much as timing and evolution. It would be hard to replicate now, not least because land costs combined with beachside NIMBYism have made Venice a notoriously difficult place to build new housing of any kind. (The total number of housing units permitted now in Venice is half the number permitted in the late 1950s, according to an analysis by Dario Alvarez, president of community planning firm Pacific Urbanism.)

When I described the neighborhood to Painter, he said there’s a term for the older multiunit buildings around single-family homes like mine: naturally occurring affordable housing. As a building reaches the end of its useful life, it has fewer amenities and is less valued in the marketplace and therefore is more affordable.

But the result, at least for as long as we’ve been living here, is a vision of what L.A. neighborhoods could and should be: economically and racially mixed.

Painter said that to get that ideal citywide, “we need to build units in all areas of the city.” And not just more affordable housing, but more housing of all kinds.

“The reason that’s fair is that if we have more units, they are a lot easier to be made affordable. We need housing everywhere,” he said.

The more we build in every neighborhood, the more we’ll open up opportunities for people of all incomes to live together. Contrary to popular belief, if we do that, the world won’t end — your property values won’t even go down.

Rob Eshman is chief executive of the A-Mark Foundation.

Source: latimes.com

Apache is functioning normally

First Federal Bank will acquire the mortgage division of BNC National Bank, which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform.

The two banks announced they have signed a definitive agreement for First Federal to acquire certain assets and liabilities of BNC National Bank’s mortgage division on Wednesday. The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023. 

The BNC platform is expected to transition to the First Federal branch within a few months of closing. Terms of the transaction were not disclosed.

Headquartered in Bismarck, North Dakota, BNC National Bank is a registered bank holding company focused on providing banking and wealth management services to businesses and consumers in its local markets. 

“The Board of Directors made the decision to exit our nationwide residential mortgage origination business after extensive deliberations and concluding that this change in strategy is in the best long-term interests of the BNC, its shareholders and the communities we serve,” Michael Vekich, BNC National Bank’s chairman, said in a statement. 

As with the entire mortgage industry, BNC National Bank was heavily impacted by rising interest rates last year. The bank’s production volume more than halved to $1.04 billion in 2022 from the previous year’s $2.37 billion, according to data from Modex. NMLS showed the bank has 63 registered loan officers.

First Federal expects to retain substantially all employees to its residential lending team, Paul Ottendorf, division president of First Federal, said.

First Federal Bank, a community-based mutual institution headquartered in Lake City, Florida, has assets of more than $3.6 billion, according to its website. The bank, consisting of 25 branches in the Southeast and operations in the Midwest, serves mortgage, small business administration (SBA) and USDA customers.

First Federal will serve BNC National Bank’s mortgage customers from its existing locations in Overland Park, Kansas; Moline, Illinois and Bismarck, North Dakota locations and in the Phoenix, Arizona market upon completion of the transaction.

Source: housingwire.com

Apache is functioning normally

Kate Mazariegos has spent most of her life thrifting and antiquing. Using her talents to find unique pieces to work in clients’ spaces, Mazariegos is opening a brick-and-mortar location this weekend.

Located at 318 St. Elizabeth Street, Kate & Waverly Home will include second-hand items that Mazariegos has curated for those who might feel overwhelmed in a “typical” thrift store.

“When I walk into a typical thrift or second-hand store, I get excited. It is like a treasure trove of possibilities,” she said. “But several friends have let me know, over the years, that not everyone feels that way.

Using her design eye, Mazariegos will have products styled on shelves and furniture in a more minimal way so shoppers can see how it might look in their homes.

Her passion for thrifting began with her mother, who she said had an eye for spotting beautiful and unique items that could be used in the decor. Often these items were found in local thrift stores and at garage sales.

“I learned a lot during those years spent with her going from place to place and finding ‘treasures,’” Mazariegos said. “Even before I believed in it, people would tell me I should open up a place to sell antiques and other unique items that I find.”

Mazariegos has studied famous designers but is largely self-taught. She learned not only by accompanying her mother but also through her father, who is a carpenter.

“From birth, I was surrounded by major home remodel projects and helping my mom pick out wallpaper, paint colors, and tiles,” she said. “And I’ll admit, I poked fun at her constant rearranging of furniture and styling of shelves and end tables.”

She also helped her dad when he needed another hand.

“I loved it all, and I still do,” she said.

Mazariegos enjoys this community and wants to develop and move forward small businesses. She has created coworking spaces in the two back rooms of Kate & Waverly Home, where people who work from home or creative people who need space can work when needed – either collaboratively or alone to focus.

“I have several other ideas on how to utilize the space in a way that brings in and builds up a community that I am excited to implement in the next year,” she said.

Kate & Waveryly Home will have unique offerings in terms of style and format, even though she knows there are other thrift stores in the area.

“I also think of the world, as a whole, is in desperate need of more stores that spotlight second-hand items,” she said. 

While the focus is on second-hand, antique, and vintage home decor, she also has racks of curated second-hand clothing and accessories. She has collaborated with Madison Jones of Blue House Fragrances and created a custom fragrance for the shop, which will be available as a candle and linen and room spray.

“The candle is made of a glass that can be recycled, reused as a drinking glass, or returned to the store and cleaned and used for another candle,” she said. “The lid is made of cork, which is compostable. And the linen spray bottles are also glass that can be recycled, or can be returned to the store and reused as well.”

Mazariegos is also working with local craftsmen and artists creating pieces she will share on social media.

Kate & Waverly Home opens Saturday. To honor the family dog they recently lost, 10% of sales on Saturday will go to The Humane Society where they adopted Maggie. Drawings and giveaways will also happen throughout the day.

Mazariegos is active on social media and tries to share information daily. The design business is @kateandwaverly and the storefront is @kateandwaverlyhome. The website is kateandwaverlyinteriors.com. Products in the store will not be available online, but Mazariegos said that could change. 

Store hours will be 11 a.m. to 5 p.m. Thursday through Saturday, but appointments can also be made. She will be in her office at the store daily.

Source: owensborotimes.com

Apache is functioning normally

Some good news finally came out of Las Vegas today, and I’m not talking about someone winning a mega jackpot on an oversized one-armed bandit.

During the Mortgage Bankers Association’s Annual Convention in Sin City, it was revealed that Fannie Mae and Freddie Mac will again accept mortgages with as little as three percent down.

This is a reversal to an earlier policy change whereby the pair stopped buying loans with down payments of less than five percent.

In fact, about a year ago Fannie Mae reduced its max loan-to-value ratio (LTV) from 97% to 95%, forcing those with little in assets to consider the FHA.

Mel Watt Finally Comes Through

Earlier today, FHFA chairman Mel Watt told conference attendees in prepared remarks that the agency is working with Fannie and Freddie “to develop sensible and responsible guidelines for mortgages with loan-to-value ratios between 95 and 97 percent.”

This is after months of him doing absolutely nothing since taking the job, at least as far as the public could see.

While the specifics are unclear, he did say such lower-down payment mortgages would take into account “compensating factors,” which are generally things like a good credit score, solid job history, low DTI ratio, and so on.

So you’ll actually have to be a good borrower to get a conventional loan with just three percent down, unlike the FHA, which allows 3.5% down with really low credit scores.

The change comes at a time when “access to credit remains tight for many borrowers,” per Watt, though that issue is certainly debatable.

However, it is intended to allow lenders to “more aggressively make responsible loans available to creditworthy borrowers.”

Less Liability for Mortgage Lenders

He also told the crowd that the FHFA was actively working to refine the Representation and Warranty Framework to ensure lenders know the loans they sell to Fannie and Freddie won’t face costly repurchase risk.

Because of the continued uncertainty regarding buybacks, banks and lenders have instituted overlays as a buffer above what the pair allows to avoid any unintended costs.

Unfortunately, it is consumers who pay for this in the way of higher mortgage rates, or worse, flat out denial.

This area of mortgage reform has been a work in progress with more and more refinements being released to provide better clarity. Watt hopes to make things very clear so lenders can offer seemingly higher-risk loan products with a lower level of liability.

While this will be welcome news for borrowers struggling to come up with the necessary funds to buy a home, there are lenders already offering conventional loans with 3% down.

For example, TD Bank offers LTVs up to 97% without private mortgage insurance. Some community banks and credit unions also offer similar low-down payment loans.

Of course, the interest rates are probably higher on such specialty offerings, and likely more restrictive than what Fannie and Freddie will soon allow.

So borrowers should be able to get low-down payment loans at a reasonable price once again, which should boost lending and overall homeownership.

The worry is whether we’re wading back into the deadly waters that created the housing crisis to begin with. But affordable housing goals call for such loosening, whether well intentioned or not.

Perhaps the move will force the FHA to lower mortgage insurance premiums, which are now sky-high and highly unattractive to just about everyone.

Source: thetruthaboutmortgage.com

Apache is functioning normally

Last weekend, I played paintball for the second time in my life. I had great fun charging through undergrowth, hiding behind logs, and shooting my friends at close range. Paintball is a blast, but I’m amazed at how much it costs to play. We each paid $25 to use the field and an additional $25 for paint. The total cost was $50 for about five hours of playtime — roughly $10 an hour.

On the drive home, we compared the cost of paintball to the cost of laser tag. Last fall, we spent $7 per person for each twenty minute game of laser tag. That’s $21/hour — twice the cost of paintball. Some of our group felt the higher cost was worth it; others thought paintball was a much better deal.

This made me wonder: What are the hourly costs for other recreational activities? How much do we spend to have fun? Do people consider how much pastimes cost, and which would they continue to pursue if they realized how much they were spending?

I do this sort of geeky number-crunching all the time. In March, I broke down the numbers to discover how much Kris and I were spending on television. I learned that it cost us $3.16/hour for digital cable, but only $0.90/hour for Netflix. We cut back to basic cable.

Ten years ago, I paid $700 for a new bicycle, on which I’ve since logged about 3,000 miles. At roughly 15 miles per hour, that’s 200 hours of use, or $3.50/hour. That seems moderately expensive until I factor in the health benefits. But these are difficult to quantify — what do the benefits of biking save me in the long run? Calculations like this can become needlessly complex.

Still, it’s easy to estimate how much most activities cost. Here’s what I spend on various pastimes:

  • Laser tag: $20/hour
  • Paintball: $10/hour
  • Biking: $3.50/hour, but less every time I ride
  • Bowling: $5/hour
  • Neighborhood walk with Kris: free
  • Seattle Mariners game: $10/hour, plus food, plus 300+ mile round-trip
  • Portland Beavers game: $5/hour, plus food, plus short travel
  • My nephew’s t-ball game: free
  • Movie theater: $5/hour
  • Cable TV: $3/hour
  • Shows from iTunes: $2/hour
  • Netflix: $1/hour
  • Nintendo Wii: About $10/hour so far, but decreasing with time
  • Board games: $3/hour (on average)
  • Contract bridge: virtually free ($1 for a pack of cards)
  • The opera: $25/hour, plus dinner plus parking
  • Community theater: $2.50/hour

Neither laser tag nor the opera seem that appealing after running the numbers. Don’t get me wrong: I’m not saying that you should base your recreational choices solely on their hourly cost, but I do think you should keep money in mind. Try to discover inexpensive (or free!) sources of entertainment.

For example, reading library books is pretty cheap. A new $25 hardback might take five hours to read, for a cost of $5/hour. If you buy the book used, you might only spend $1/hour. But if you borrow the book from the library, you get to read it for free.

The most expensive recreational activity I ever participated in was a season of city league soccer. It cost me $100 for ten games, or about $5/hour. That’s not so bad. But then I tore out my ACL, which required expensive surgery. Even with insurance, I was out $2,000. Ultimately my season of soccer cost me over $100/hour!

How much do your favorite activities cost? Which are worth it? Which are not?

This article originated with a discussion in the forums.

Source: getrichslowly.org

Apache is functioning normally

Are you looking to create a tranquil escape right in your own backyard? In this Redfin article, we will explore the world of privacy fences and offer expert tips to help you build the perfect enclosure for your outdoor sanctuary. Whether you’re in Raleigh, NC, or Sarasota, Florida, we’ve got privacy fence ideas that can suit no matter where you live. Building a privacy fence can be the perfect solution to achieve serenity and seclusion. 

Let’s explore the world of privacy fences, from the practicalities of cost and construction to the creative ideas that will turn your backyard into a personal sanctuary. 

Is building a fence for privacy a good idea?

Building a fence for privacy can be a great idea, depending on your specific needs and preferences. Privacy fences offer numerous benefits, such as creating a secluded outdoor space where you can relax, entertain, or engage in activities without feeling exposed to neighbors or passersby. They also enhance security, providing a physical barrier and helps keep pets and loved ones safely contained within your property. Additionally, privacy fences can add value to your home and improve curb appeal, making it an appealing option for potential buyers.

How much does it cost to build a privacy fence?

Building a privacy fence cost can vary based on several factors, including the fence’s material, height, length, and labor costs. On average, the cost of building a privacy fence can range from $15 to $30 per linear foot. For instance, a standard wood privacy fence typically costs around $20 to $30 per linear foot, while vinyl or composite privacy fences can range from $25 to $50 per linear foot. Additionally, factors like the terrain, site accessibility, and any extra features, such as gates or decorative elements, can influence the total cost.

For example, let’s consider a 100 linear feet privacy fence made of wood. If the average cost is around $25 per linear foot, the total cost would be approximately $2,500 (100 ft x $25/ft). However, if you opt for a more durable material like vinyl, which costs around $40 per linear foot, the same 100 linear feet fence would cost $4,000 (100 ft x $40/ft). 

These figures exclude any additional expenses like permits, removal of existing fences, or landscaping adjustments. Keep in mind that the labor costs for fence installation can also vary depending on your location and the complexity of the project. It’s essential to obtain detailed quotes from reputable contractors to get a more accurate estimation for your specific privacy fence project.

Privacy fence ideas

You might be wondering what type of fence you should get to add privacy and beauty to your outdoor space. We’ve compiled a variety of privacy fence ideas to suit your preferences, whether you’re aiming for a classic look, a modern design, or a touch of greenery. 

1. Board-on-board wood fence

A classic and popular choice for privacy, the board-on-board wood fence features overlapping vertical boards on both sides of the fence, creating a seamless look with no gaps between the boards. This design provides maximum privacy and a clean, attractive appearance.

2. Vinyl privacy fence with lattice top

Vinyl fences offer low maintenance and durability. Adding a lattice top to a vinyl privacy fence not only increases height and privacy but also adds an elegant touch. The lattice allows some sunlight and air to pass through while maintaining a sense of seclusion.

3. Bamboo privacy fence

For a natural and eco-friendly option, consider a bamboo privacy fence. Bamboo panels are sustainable, aesthetically pleasing, and provide an exotic touch to your outdoor space. They can be installed as standalone panels or attached to an existing fence structure.

4. Metal privacy screens

Metal privacy screens are a modern and stylish alternative to traditional fences. Available in various patterns and designs, metal screens can add a contemporary touch to your outdoor area while still providing privacy.

5. Living green privacy wall

Create a living privacy fence with lush greenery by using climbing plants or creating a green wall. Options like ivy, climbing roses, or tall shrubs can soften the appearance of your fence and add a natural, inviting ambiance to your yard.

How to build a privacy fence

1. Check local regulations

Before starting on your privacy fence project, it’s crucial to research and understand the local regulations, building codes, zoning ordinances, and any guidelines set forth by your homeowner association. These rules can vary significantly from one area to another and may dictate the maximum height, setback requirements, permitted materials, and other restrictions related to fence installation. Ignoring these regulations could lead to costly fines or having to tear down non-compliant fences. You can contact your local building department or visit their website to obtain the necessary information.

2. Determine the fence’s location and layout

Careful planning of the fence’s location and layout is essential to ensure you get the most out of your privacy fence. Start by marking the fence line using stakes and strings. Double-check the measurements to avoid any encroachment onto neighboring properties. Consider factors such as property lines, existing structures, trees, and landscaping that may influence the fence’s placement. Think about how the fence will affect the flow of your outdoor space, where the main entrances will be, and how it will provide the desired privacy. Taking time to plan the layout will save you from potential complications during the construction phase.

3. Gather the required materials and tools

Once you have the fence layout planned out, it’s time to gather all the necessary materials and tools. Start by choosing the right fence materials that align with your budget and aesthetic preferences. Popular privacy fence options include wood, vinyl, aluminum, and composite materials. Depending on your choice, purchase fence panels, posts, gate hardware, screws, and other required accessories. 

Additionally, ensure you have the appropriate tools to complete the project efficiently and accurately. Common tools for building a privacy fence include a post hole digger, shovel, level, tape measure, saw, drill, and a hammer. Quality materials and proper tools will ensure a sturdy and long-lasting privacy fence that withstands the elements and provides the desired level of privacy.

4. Prepare the ground

Before commencing the actual fence installation, you must prepare the ground along the fence line. Clear the area of any vegetation, debris, or obstacles that could hinder the fence’s construction. If your area experiences heavy rain or has poor yard drainage, consider grading the ground to ensure proper water runoff. Once the area is clear, begin digging the post holes. The depth of the holes should be at least one-third of the length of the fence posts to provide stability. 

Use a post hole digger or an auger to dig the holes uniformly, and ensure they are straight and level. Installing the fence on uneven ground can lead to an uneven appearance and structural issues, so take your time to achieve a level and solid foundation.

5. Install fence posts

After digging the post holes, it’s time to install the fence posts. Place the posts into the holes and fill the bottom with a few inches of gravel. The gravel helps with drainage and prevents water from pooling around the base of the posts, which can lead to rot over time. Use a level to ensure each post is plumb and straight before proceeding. Once the posts are correctly positioned, it’s time to set them in concrete. 

Follow the manufacturer’s instructions for mixing and pouring the concrete, making sure it reaches the desired strength. Allow the concrete to cure completely before moving on to the next steps. Properly installed and secured posts are the backbone of a sturdy privacy fence, providing stability and support for the entire structure.

6. Attach fence panels

With the fence posts set in concrete, it’s time to attach the fence panels to complete your privacy fence. Begin by aligning the first fence panel with the first two posts and attach it using screws or brackets. Ensure the panel is level and plumb before moving on to the next section. Repeat this process for each panel, ensuring uniform spacing between them for a consistent and professional appearance. 

If you have chosen pre-built fence panels, it will make the installation process smoother. However, if you are using individual pickets, take extra care to align and attach them evenly. Additionally, if you have any gates in your fence design, make sure to follow the manufacturer’s instructions to install them securely and smoothly.

Remember to follow safety precautions while digging and working with heavy materials and tools. Double-check all measurements and levels throughout the process to ensure accuracy and alignment. 

7. Add finishing touches

After the fence panels are securely attached, it’s time to add some finishing touches to enhance the overall appearance and functionality of your privacy fence. If you opted for wooden fencing, consider trimming the tops of the fence posts for a more polished and cohesive look. You can choose from various decorative post cap designs that complement your property’s style. Post caps not only add an aesthetic appeal but also protect the fence posts from moisture and potential rot. 

Additionally, if your fence design includes a gate, install latches and handles that match the overall style of the fence. Ensure the gate operates smoothly and securely, and consider adding a self-closing mechanism for added convenience and safety.

8. Double-check stability

Before completing the fence installation, thoroughly inspect the entire fence for stability and structural integrity. Ensure that all fence panels are securely attached to the posts and that the posts are firmly set in the concrete footings. Wiggle the fence panels and gates to check for any loose connections. Use a level to ensure the fence panels are still straight and aligned correctly. Address any issues you find promptly to avoid future problems. 

9. Test the privacy

After completing the fence installation, take the time to test the privacy it provides. Stand at various points around your property to assess if the fence effectively shields your outdoor space from eyes. Make any necessary adjustments, such as adding more privacy-enhancing elements like lattice panels or planters with climbing vines. Depending on your property’s layout and the surrounding environment, you may discover specific areas where additional privacy measures are needed. 

10. Maintain your fence

To prolong the life and appearance of your privacy fence, regular maintenance is essential. Perform routine inspections to check for any loose screws, damaged panels, or signs of wear. Clean the fence periodically to remove dirt, debris, and mold growth, especially in damp environments. Depending on the fence material, you may need to apply protective coatings or treatments to shield it from the elements. Wooden fences may require staining or sealing every few years to prevent rot and decay. 

The dos and don’ts to building privacy fences

To ensure a successful and satisfying project, it’s essential to consider both the dos and don’ts of fence construction. 

Do’s for building a privacy fence

1. Do consult your neighbors

Before starting your privacy fence project, communicate with your neighbors about your plans. Inform them about the fence’s design, height, and location to avoid any potential disputes or surprises. While you might have the legal right to build the fence within your property boundaries, maintaining a good relationship with your neighbors fosters a sense of community and reduces the likelihood of conflicts arising in the future.

2. Do consider wind resistance

If you live in an area prone to strong winds or storms, consider the wind resistance of your privacy fence. Tall and solid fences can act as a wind barrier and create pressure on the fence panels and posts. To mitigate this, opt for fence designs that allow wind to pass through, such as lattice or picket fences. Alternatively, create small gaps between the panels or use fence materials with spaces, which reduces the wind load and minimizes the risk of damage during storms.

3. Do call utility companies before digging

Before digging the fence post holes, call your local utility companies to mark any buried utility lines on your property. Striking underground utilities can lead to dangerous situations and costly repairs. Utility companies usually offer this service for free, and marking the lines will ensure you avoid any accidental damage during the fence installation process.

Don’ts for building a pivacy fence

1. Don’t forget about gate access

When designing your privacy fence, don’t overlook the importance of gate access. Ensure your fence has appropriately sized gates to accommodate easy movement of people, equipment, and furniture in and out of your property. Consider installing a wider gate for vehicle access if required. Choose gate hardware, such as hinges and latches, that are durable and designed to support the weight of the gates to prevent sagging or misalignment.

2. Don’t ignore the quality of materials

While budget considerations are essential, don’t compromise on the quality of materials for your privacy fence. Choosing durable and weather-resistant materials will ensure your fence stands the test of time and requires less maintenance. Investing in high-quality materials upfront can save you money on frequent repairs and replacements in the long run.

3. Don’t disregard drainage considerations

When installing your fence, don’t overlook the importance of proper drainage. Improperly planned fences can impede water flow, leading to water pooling around the fence posts or panels. Over time, this can cause rot and weaken the fence’s foundation. To avoid this issue, ensure the ground slopes away from the fence or incorporate drainage solutions like French drains to divert water away from the fence line.

Source: redfin.com

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Two Orange County, California, individuals face charges of conspiracy, bank fraud and identity theft, accused of targeting elderly members of the local Vietnamese community and duping banks into distributing $2.2 million of their accrued home equity.  

Thao Thi Kim Nguyen and Nghiep Chinh Nguyen were arraigned in United States District Court in Santa Ana, California, on Monday. Both entered not guilty pleas to the charges against them and were granted bond. They each face a single count of conspiracy to commit bank and wire fraud. 

Thao Nguyen was also charged with multiple other counts of both bank fraud and aggravated identity theft. Nghiep Nguyen, meanwhile, faces an additional two counts of bank fraud and another of aggravated identity theft.

The purported violations occurred over a four-month period in 2018 after Thao Nguyen opened accounts in her name at two banks, who were not identified in the court indictment. Later, she would return to the banks accompanied by Ngiep Nguyen and other participants involved in the fraud, who posed as homeowners. 

Using stolen identities and phony documents, including California driver’s licenses and Social Security cards, Ngiep Nguyen and the other alleged fraudsters would typically impersonate elderly Vietnamese homeowners to take out mortgages. This gave them access to the victim’s accrued equity, through obtaining reverse liens after forging signatures on banking documents and grant deeds. Thao Nguyen also added the victims’ names to the accounts she had previously opened at the banks, claiming, in at least one case, they belonged to her parents.

She then reportedly received wire transfers of the withdrawals made by the other parties from the fraudulent mortgage accounts. Thao Nguyen subsequently moved those funds to different bank accounts she owned. 

The scheme netted almost $2.2 million, according to the indictment, with Thao Nguyen taking in approximately $1 million while distributing the remaining amount to her cohorts.

A trial date for the two defendants is scheduled to begin on Sept. 26. If convicted, both face a maximum sentence of 30 years in federal prison for each conspiracy and fraud charge. They would also be required to serve two years for each count of aggravated identity theft if found guilty. 

Neither the identities of others participating in the scheme, who were not part of this indictment, nor of the victims were reported.

The charges against Thao Nguyen and Ngiep Nguyen follow another recent trial involving elderly homeowners in California. In that case, the head of an investment company promised homeowners he could help distressed borrowers avoid foreclosure through transfer of their deed title to his business. After losses totaling more than $7 million and the eventual seizure of all homes belonging to the victims between 2015 and 2019, Robert Sedlar was found guilty on more than 100 felony counts earlier this year, including conspiracy, grand theft and elder abuse.     

Source: nationalmortgagenews.com

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When deciding which applicants to accept, colleges and universities typically look for the best of the best. But, that doesn’t always mean the “best” is the person with the highest grades in high school.

Yes, a student’s grade point average, or GPA, is a good metric for measuring just what and how successfully they completed their high school course, but how much does a student’s GPA really matter for college admission? It depends.

Keep reading to find out when it matters, when it doesn’t, and all the other factors college admissions take into account beyond a student’s GPA.

Weighted vs Unweighted GPA

Traditionally, high schools measure a student’s academic performance on an unweighted GPA scale, meaning the number only goes up to a 4.0 for an A in a class. This measurement method does not take into account the difficulty level of classes, so an honors English class will be measured in the same way as a non-honors class.

On the other hand, weighted GPAs do take into account the difficulty level of a student’s coursework. Most weighted GPA scales measure from a 0 to a 5.0. This means, an AP-level or honors level class could earn a student a 5.0, while a lower-level class will only reward A work with a 4.0.

A weighted scale can offer students a little more flexibility when it comes to their overall GPA. Say a student is taking four classes, one is an honors level course and the three others are typical classes. The student receives an A in the honors class, which accounts for a 5.0; an A in two other courses, denoting a 4.0 and a 4.0, and a B in the last, at a 3.0. Despite receiving a B in a course, that would still end up with a weighted 4.0 GPA.
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Do Colleges Look at Weighted vs. Unweighted?

For the sake of looking at all applicants equally, colleges generally look at unweighted GPAs. They will typically separately consider how rigorous the coursework was. So, for example, if you took all AP classes and have an unweighted 4.0 GPA, you would be seen as a stronger applicant than someone who took less challenging courses and also got an unweighted 4.0, even though your GPAs are the same.

Colleges also look at unweighted GPAs (as well as standardized test scores and other factors) for merit-based scholarships. The more successful students are more likely to receive tuition funding.

College admissions staff may also look into other things when it comes to a student’s GPA, including grade trends. If a student didn’t start out high school on the best note, but performed well during their junior and senior year with a strong GPA, admissions may see that as excellent growth and perseverance in a student’s academic career.

Recommended: How Do Grades Affect Your Student Loans?

A “Good” GPA

Again, it’s important to remember that your GPA isn’t everything and that college admissions staff will likely look at much more than just your grades. However, it’s also always nice to know where you stand amongst the pack.

The average high school GPA is around 3.0 (or a B), including students who do and don’t apply to college. However, the average GPA for students applying to college is closer to 3.5 to 4.0, and the average for students applying to Ivy League schools can be even higher – 4.00 or close to it.

The average weighted GPA is 4.15 at Harvard and MIT.

While GPA isn’t everything, it’s a good idea to keep it in mind when deciding which schools, or how many, to apply to.

Recommended: How to Get Into College With a GED

What Else Do Colleges Look At?

Yes, colleges will take into account a student’s GPA. However, colleges and universities also take into account a complete picture of who a student is. That means they look into trends in a student’s grades throughout their education and likely look at a student’s test scores on the SAT or ACT.

College admissions officers also look at a student’s involvement in extracurriculars, sports teams, their involvement in their community through organizations and volunteer work, and any relevant work experience.

Admissions staff will also likely weigh a student’s application using their recommendation letters, which speak to a student’s merit far beyond their grades. Admissions will also read a student’s complete application and read any required essays.

Again, a lot goes into the admissions process, and grades aren’t the end all be all. This all means when you are preparing for college, even in your early high school years, you may want to prepare by diversifying your interests and pursuits to ensure they can tell a larger story in their application.

Colleges That Don’t Take GPA Into Account

There are schools out there with low or no minimum GPA requirements for applicants. These include many for-profit schools, as well as community colleges. In fact, if your GPA is on the lower end, you might consider attending a community college for a year or two and then transferring to a four-year university or college.

For example, California Community Colleges do not have a minimum GPA or testing requirements for incoming students. Attending a community college could be a great way for students to learn and grow personally and academically, and to increase their academic performance before transferring.

No Matter a Student’s GPA, It’s Good to Have a Plan

Being financially prepared for college can help take some of the stress away from worrying about how your GPA will affect your chances of admission.

While filling out applications, you may want to also look into all your financial options as well. This begins with filling out the Free Application for Federal Student Aid (FAFSA) to see if you are eligible for federal student aid, which include grants, scholarships, work-study, and federal loans.

If you still have gaps to fill, you may also want to consider a private student loan via a bank, credit union, or private lender. Unlike federal student loans, this involves a credit check. Students who have strong finances (or have a cosigner who does) stand to get lower interest rates and more favorable loan terms. Keep in mind that private student loans don’t come with government protections such as forbearance and forgiveness programs.
💡 Quick Tip: It’s a good idea to understand the pros and cons of private student loans and federal student loans before committing to them.

The Takeaway

GPA is one factor in the college admissions process. How heavily GPA is weighted as a factor in admissions decisions will vary from school to school. Many schools will list the average GPA of admitted students, which can help give you an idea of how your GPA stacks up to students at that school. Other factors for admission might include a student’s transcript, letters of recommendation, and personal essay.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.


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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Source: sofi.com

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Are you ready to create your very own DIY shed without breaking the bank? Whether you’re in sunny Orlando, FL, dealing with the winds in Oklahoma City, OK, or facing the seasons in Rochester, NY, this step-by-step guide is here to help you construct a shed that perfectly suits your needs and location. We’ve got you covered with various shed models, ensuring your build is a success, no matter where you are, while fitting your lifestyle. 

How to build a DIY shed on a budget

From planning and design to installing doors and windows, here are the essential elements to ensure a successful and cost-effective shed-building journey.

1. Planning and design

Proper planning and design are crucial when building a DIY shed on a budget. Start by assessing your specific needs for the shed, whether it’s extra storage space, a workshop, or a place to pursue hobbies. By clearly defining its purpose, you can determine the ideal size and layout to minimize unnecessary expenses. Sketch out the shed’s design, considering practical aspects like door and window placements to ensure adequate light and ventilation. It’s essential to plan for cost-effective construction methods, such as simple roof designs and standard dimensions, to reduce material waste and expenses.

When planning cost-effective construction, opt for straightforward shed designs that don’t require complex angles or special tools. A rectangular or square shape with a single-pitched roof is not only easier to build but also more budget-friendly. Moreover, think about incorporating salvaged materials like old doors, windows, or reclaimed lumber into your design. Reusing materials can significantly cut costs while adding a unique touch to your shed.

For those looking for an even simpler and more budget-conscious option, DIY shed kits are worth considering. Shed kits typically include pre-cut and pre-measured materials, along with detailed instructions, making the construction process more accessible for beginners. These kits often come in various sizes and styles, allowing you to choose one that fits your needs and budget. While DIY shed kits may have a slightly higher upfront cost, they can save you time and labor, ultimately translating into potential cost savings.

Additional Tip: Before purchasing any materials or starting construction, check with local authorities about building permits and regulations. Compliance with local codes is essential to avoid potential fines or setbacks during the construction process. 

2. Acquiring materials

Consider using pressure-treated lumber, which is durable and resistant to decay, at a lower price point than premium lumber. Reclaimed or salvaged materials can be excellent options for siding, roofing, and finishing touches, adding character to your shed while reducing expenses. Explore local classifieds, online marketplaces, or salvage yards to find discounted or secondhand building supplies. Additionally, reaching out to friends, family, or local community groups might lead you to unused materials they’re willing to part with. Being resourceful in sourcing materials can significantly contribute to cost savings.

Here is a checklist of basic tools needed for shed construction:

  • Measuring tape and level for precise measurements
  • Circular saw or hand saw for cutting lumber
  • Power drill with various bits for drilling holes and driving screws
  • Hammer and nails for traditional fastening
  • Screwdriver for assembling components
  • Safety equipment (gloves, safety glasses, ear protection) for protection during construction
  • Ladder for reaching higher areas during the build
  • Carpenter’s square for ensuring accurate angles

By having these essential tools on hand, you’ll be well-equipped to handle the construction efficiently and avoid costly delays or trips to the hardware store for missing items.

3. Preparing the site

Begin by selecting a level area with good drainage to prevent water accumulation around the shed. Clear the site of any debris, rocks, or vegetation that may interfere with construction. If the ground is uneven, consider using a shovel or a rented plate compactor to level the surface. Installing a base or foundation is essential for elevating the shed above the ground to protect it from moisture. For budget-friendly options, consider using a gravel or concrete block base, which requires less material and labor compared to a full concrete slab. Make sure to follow local building codes and regulations regarding setbacks and property lines.

Before construction, it’s a good idea to check the local utility lines and mark their location to avoid accidental damage during digging. Additionally, consider adding a layer of landscaping fabric beneath the foundation to prevent weed growth and improve drainage. If the site is susceptible to heavy rainfall or flooding, you might also consider building a raised platform or using pressure-treated lumber for the foundation to protect the shed from moisture. Proper site preparation will not only provide a stable base for the shed, but also prevent potential problems and costly repairs in the future.

4. Building the foundation

Depending on your budget and site conditions, there are several cost-effective options available. One of the simplest and budget-friendly choices is using concrete blocks or pressure-treated lumber as piers, which elevate the shed off the ground and prevent direct contact with soil and moisture. Another budget-friendly option is a gravel foundation, consisting of compacted gravel or crushed stone, which provides good drainage and stability. Follow the shed’s design and local building codes to determine the number and placement of piers or gravel pads. Once the foundation is in place, double-check its levelness and stability before proceeding to the next steps.

Consider adding cross-bracing or additional support beams to enhance the stability of the foundation, especially if your area experiences high winds or seismic activity. When using concrete blocks as piers, ensure they are level and evenly spaced to evenly distribute the shed’s weight. For gravel foundations, it’s crucial to create a stable and well-compacted base to prevent sinking or shifting over time. 

5. Constructing the frame

The frame is the backbone of your shed, providing structural support and determining the shed’s overall strength. Use pressure-treated lumber or other cost-effective materials for framing components, such as joists, studs, and beams. The frame should follow the shed’s design and dimensions accurately, and all connections must be secure. Precisely cut the lumber according to your measurements and join the components using nails, screws, or appropriate hardware. Ensure the frame is square and level to avoid any structural issues down the line.

If you’re new to carpentry, take extra care when measuring and cutting the lumber to ensure accurate dimensions. Utilize a carpenter’s square to check for right angles, and consider using diagonal measurements to verify the frame’s squareness. Additionally, using galvanized or weather-resistant fasteners will enhance the frame’s durability and protect it from rust or corrosion.

6. Installing roofing and siding

When it comes to roofing and siding options for a budget-friendly shed, consider materials that offer durability without breaking the bank. Asphalt shingles are a cost-effective roofing choice, providing adequate protection against the elements. Metal roofing is another affordable option that offers longevity and easy installation. For siding, T1-11 plywood or oriented strand board (OSB) are economical choices that can be painted or stained for added protection and aesthetics. Alternatively, consider using salvaged materials or repurposed wood to create a rustic and budget-friendly exterior. Properly install the roofing and siding, paying attention to weather-proofing and sealing to ensure the shed remains dry and resistant to moisture.

To maximize cost savings, consider using a combination of new and salvaged materials for roofing and siding. Check local salvage yards or building material recycling centers for discounted or reclaimed materials that can be suitable for your shed. Additionally, apply weather-resistant barriers like roofing felt or house wrap beneath the roofing and siding to further protect the shed from moisture and drafts.

7. Adding doors and windows

Consider cost-effective options for doors, such as pre-hung exterior doors or repurposed doors from other projects. For windows, single-pane or salvaged windows can be more budget-friendly than high-end, energy-efficient models. Install weather stripping and proper sealing around doors and windows to minimize air leakage and improve energy efficiency. Additionally, consider positioning the doors and windows strategically to maximize natural light and ventilation within the shed.

If using salvaged doors or windows, ensure they are in good condition and provide adequate security and insulation for the shed. Applying a fresh coat of paint or stain can revitalize their appearance and extend their lifespan. For added security, consider installing simple and budget-friendly locking mechanisms or latches on doors and windows.

8. Finishing touches and interior

Install trim and moldings to cover any exposed edges and add a polished look. Apply a weather-resistant paint or stain to protect the exterior from the elements and prevent premature deterioration. Consider using leftover or salvaged materials for interior finishes, such as reclaimed wood for shelving or repurposed cabinets for storage. Organize the interior to maximize space and functionality, adding hooks, pegboards, or wall-mounted racks to keep tools and equipment neatly stored. Adding proper lighting, either through natural light from windows or affordable LED lighting fixtures, ensures a well-lit and functional workspace.

To further save on costs, explore creative DIY solutions for shelving and storage. Utilize old crates, pallets, or cinder blocks to create custom storage units. Additionally, consider using recycled materials or inexpensive alternatives for flooring, such as gravel or rubber mats, to create a comfortable and budget-friendly surface. 

9. Safety and security 

Regularly inspect the shed for any structural issues, such as loose nails or rotting wood, and address them promptly to prevent further damage. If your area experiences extreme weather, consider adding hurricane straps or anchors to reinforce the shed’s stability. Install a budget-friendly lock or latch on doors and windows to deter potential intruders and safeguard your belongings. In regions prone to pests, use weather stripping and sealant to close any gaps and prevent entry.

Incorporate additional safety measures such as smoke alarms or fire extinguishers, especially if you plan to use the shed for activities involving heat or flammable materials. If you have electrical outlets or wiring in the shed, ensure they are installed correctly and up to code to prevent potential fire hazards. 

Types of sheds

Here are a few examples of the different types of sheds and their purposes. 

1. Storage shed

The primary function of a storage shed is to provide ample space for storing various items, such as gardening tools, lawn equipment, bicycles, and seasonal decorations. Storage sheds typically have a simple design with single or double doors for easy access. They may include shelving, hooks, or pegboards for organizing and maximizing storage capacity.

2. Garden shed

A garden shed serves as a dedicated space for gardening activities, such as potting plants, storing gardening tools, and housing supplies like soil and fertilizers. Garden sheds often have workbenches or planting tables to facilitate potting and transplanting. They may also include windows or skylights to provide natural light for gardening tasks.

3. Workshop shed

Workshop sheds are designed as functional spaces for DIY projects, woodworking, or hobbies that require a dedicated workspace. Workshop sheds have sturdy workbenches or workstations with ample storage for tools and materials. They may have multiple electrical outlets and good lighting to support various projects.

4. Home office shed

Home office sheds provide a quiet and separate workspace away from the distractions of the main house, making them ideal for remote work or personal projects. Home office sheds are insulated and climate-controlled, with windows for natural light and ventilation. They often have space for a desk, chair, storage, and electrical outlets for electronic devices.

5. She shed

A she shed is a retreat space designed for relaxation, hobbies, or personal escape, providing a peaceful and private environment. She sheds are customizable and can include cozy seating, bookshelves, art supplies, or a mini-fridge for refreshments. The decor and furnishings are tailored to the owner’s preferences and interests.

Source: redfin.com