If you know what you want, ask for it. That’s the lesson to be learned from the recent sale of a preconstruction home on Providenciales, an island in the Atlantic Ocean’s tropical Turks and Caicos archipelago.

Originally marketed for $7.75 million as a five-bedroom, 5.5-bathroom villa with close to 8,000 square feet of living space, it didn’t exactly fill all the requirements of her eager buyers, according to sales agent Latoya Jones of Grace Bay Realty.

Since it wasn’t built yet, however, a deal was struck for an expanded plan to accommodate six bedrooms and 6.5 bathrooms in more than 9,700 square feet. The sale closed at $8.65 million or nearly a million dollars above the asking price.

Such customization is not the only benefit of buying before construction—at least in Turks and Caicos.

“Preconstruction is attractive because buyers only pay the stamp duty fee of the raw land transaction,” Jones says, “as opposed to the stamp duty fee for the actual cost of the finished villa.” That one-time fee, paid by the buyer to the government, would be 10% for Providenciales transactions in this price range.

Adding to the attraction of the oceanfront villa as an investment opportunity, it will consist of a main house and guest cottage, each with a private swimming pool to allow greater flexibility as a rental. “It can accommodate two different sets of guests if need be,” Jones says.

The villa is entered through a courtyard with a pool and covered lounge that accesses an open-plan great room through floor-to-ceiling glass doors. The opposite end of the great room opens to an ocean-facing terrace with infinity-edged pool and sundeck. From there, steps lead to a sunken fire pit and an ocean swim deck with direct water access.

The three-story home, set on nearly a half-acre, captures the scenic panorama of the shallow-water Caicos Banks.The 15-acre gated Wymara community, set atop the coastline in the Turtle Tail neighborhood, is within a half-hour drive of Providenciales International Airport.

Amenities at the Wymara Villas + Beach Club include a tennis court, gym, game room, sauna, steam room, hot tub and bar. There are both freshwater and ocean water lap pools. Wymara Resort’s Villa Rental Program offers homeowners professional management.

MORE FROM FORBES GLOBAL PROPERTIES

The post A Custom Fit Along The Oceanfront In Turks And Caicos appeared first on Financial Level.

If you had your eye on a house or neighborhood in a certain price point but weren’t able to borrow enough for a loan, your luck may change in 2024. Last week the Federal Housing Finance Agency and Federal Housing Administration announced the increases to how much buyers can borrow for loans backed by the federal government, as part of their annual requirement to keep pace with the change in house prices.

For FHFA loans the limit will increase to $766,550, a $40,350 jump over the 2023 threshold of $726,200. In areas with a higher cost of living, such as California, New York and Hawaii, the limit is set to be 150% of the baseline limit which equals $1,149,825.

Ken Fears, Director of Conventional Housing Finance and Valuation Policy, at the National Association of REALTORS, said “NAR is encouraged by the FHFA’s continuing efforts to provide liquidity in all markets. Homebuyers in high-cost markets are not immune to the affordability challenges presented by the surge in mortgage rates over the last year. Allowing Fannie Mae and Freddie Mac to support the broader market provides much needed and affordable financing for those who do not qualify for purely private options.”

For FHA loans, which often appeal to buyers with smaller downpayments or lower credit scores, the limit will rise to $498,257 up from this year’s limit of $472,030. FHA loans often require only a 3% minimum downpayment, but come with required private mortgage insurance as part of the loan.

“The higher conforming loan limits will help more people, especially those who live in high-cost areas to be able to purchase a new home. especially now when rates are still so high, but dropping. Conforming loans allow for lower credit scores, debt-to-income ratios up to 50%, smaller down payments, renovation loans and more,” said Melissa Cohn, Regional Vice President at William Raveis Mortgage.

Home prices have climbed steadily, with this fall’s median house prices up between 3.4% and 3.5% compared to last year, according to both NAR and Redfin data. The increase in mortgage interest rates has softened price growth, but demand continues to remain high which means any potential decreases in median prices in the coming year will likely be minimal and confined to less competitive markets.

To see a full map of where the different loan limits apply, head to this site by the FHFA.

The post Looking To Borrow Even More For A House? Mortgage Loan Limits Are About To Increase In 2024 appeared first on Financial Level.

The 1930s house I grew up in had its laundry machines in a dark, unwelcoming basement area, two flights down from our bedroom closets. Today’s laundry rooms tend to be brighter, more welcoming, more functional and usually better located! That’s a huge benefit for both young families and older homeowners who may have a hard time lugging loaded laundry baskets up and down stairs. It’s also a huge boost for a home’s functionality, one of the five facets of wellness design.

Home improvement platform Houzz predicts that enhanced laundry spaces with mud room features will be a strong trend for 2024. I agree. So do the many home improvement pros I surveyed by email and through social media groups.

Smart Siting

“Combining a laundry room with a mudroom is a natural step for homes that see a lot of mess at an entry,” observed Mitchell Parker, senior editor for Houzz. “This increasingly popular setup lets homeowners place grimy sports uniforms, muddy winter jackets and sandy beach towels directly into the wash before they track dirt further into the home,” he adds.

“The popularity of the combined laundry-mudroom trend is no coincidence,” comments San Antonio area custom home builder Tommy Lipe. “By seamlessly merging two rooms with similar material needs, we not only streamline construction but also reduce square footage, simplifying the often hectic nature of our lives.”

Resilience Imperative

Resilience is key for Scott Tjaden’s St. Louis area laundry-mud room projects, the designer says. “You use it frequently and that’s where your money should be spent in terms of quality machines, workspace flooring and any sort of paint or wall covering. Paint should be wipeable and of high quality and so should wall covering.”

Resilience is a criterion for New York-based architect Havard Cooper too. ”I use stainless steel, tile or concrete for sinks and countertops due to their durability and ease of cleaning. The appliances selected are aesthetically pleasing but also robust, energy-efficient, and capable of handling high-volume laundry tasks. To combat moisture, materials like waterproof paints and backsplashes are used to protect walls from water damage,” he adds.

Tjaden additionally suggests a large curved spigot for the water. “Some people prefer a hose attachment,” he notes, “if the laundry is near a back door, sometimes people will use that for cleaning and repotting.”

Resilience is mandatory for Central California-based interior designer Wendy Glaister’s agricultural clientele. Their homes are “surrounded by orchards, farms and lots of dirt,” she muses. She also favors durable materials like antimicrobial stainless steel for sinks, especially when you need to use stronger stain removers that might hurt other materials. Glaister specifies vinyl planks and porcelain flooring for resilience and cleanability, she says.

Pet-Friendly Multi-Tasking

Flex spaces like combined laundry-mud room areas are ideal for busy households. “Having everything in one spot makes multitasking easier,” Parker comments, that can include chores, hobbies and pets. “Mudrooms can be a convenient spot for a doggie stop, whether they include a space for your pet to dine or a storage area for walk-related items to grab on your way out the door; many homeowners on Houzz also incorporate a pet shower in their mud-laundry room to ensure that muddy paw prints don’t make it into the main house.”

Ottawa-based cabinetmaker Deborah Gervais is definitely seeing more pet features in her area, including “dedicated washing machines for animal blankets, clothing (for folks who have cattle and/or horses) so they don’t mix with everything else.”

A ‘slop sink’ can double as a pet washing station for smaller dogs, suggests New York-based remodeling company owner Jean Brownhill. Atlanta-based designer Stephanie Ives likes to see a pet door, litter box space with exhaust fan, and built-in kennels and feeding areas. She also likes to include space for recycling management and robot vacuum charging stations.

Mud rooms can also be the perfect place in which to store outdoor sports gear, like wall-mounted ski racks, cubbies for hats and helmets, and spots beneath benches for boots and shoes, Parker shares.

Must-Haves

If this is a trend you’ve been considering for your own home, there are some elements you’re definitely going to want to include. Parker cites a utility sink with pulldown faucet for easy handwashing and rinsing muddy gear. Hooks, sorting space, cabinets for supplies and storage is also a boon for these utility spaces.

Las Vegas-based interior designer Patricia Gaylor incorporates a bench in drop zone areas located close to a home’s family entrance. “Built in low seating with open cubbies to remove shoes before entering main part of house” help these spaces keep a home cleaner. A small shower area can also be helpful in this regard.

Nice-To-Haves

“Radiant heating under the flooring is a benefit, especially in colder climates,” the Houzz editor comments, noting that they not only keep feet warm but help dry boots.

Parker also suggests incorporating a workstation if there’s room. This can be used for folding laundry, wrapping gifts, handling package shipping and hobbies. “Having everything in one spot makes multitasking easier,” Parker notes. Glaister likes to have an area for hanging and drying hand-washables and Gervais suggest a built-in ironing board, extra pantry storage .

Cooper suggests integrating a home automation panel. “This feature allows homeowners to control laundry appliances, lighting, and security systems from the laundry room.” Laundry sorting bins are also helpful, he notes. “Tech enthusiasts appreciate integrated phone charging centers and robot vacuum bases,” he adds. Several designers include device charging stations and family calendars in their projects.

New York designer Isfira Jensen cites “beautiful, multi-layered lighting” in her nice-to-haves. “This means having the nice central light fixture to provide ambient lighting and layering it with task lighting in forms of wall sconces or LED strip lights.” She also recommends ventilated drawers for shoe storage.

Boulder-based interior designer Megan B. Daughtry suggests having “a designated basket and large wardrobe cabinets for each family member to store their gear.”

Personalization

One trend we’ve been seeing for quite a while throughout the house is personalization. The fact that it’s showing up in these utilitarian areas speaks to their growing importance to homeowners and their families. “Photos of popular mudrooms on Houzz showcase inviting styles, smart built-in cabinetry, attractive furniture and decor, and bold colors,” Parker shares.

Brownhill is seeing “Fun tiles and printed wallpaper.” These high traffic areas benefit from busy patterns hiding scuffs and wear, she points out. Daughtry creates custom calendar and boards for tracking family activities and kids’ growth. Ives is starting to get requests for digital family calendars, she says.

Style enhancements certainly make doing laundry a more enjoyable chore. I think my late mother would have enjoyed many of these features, but a luxe laundry hadn’t occurred to her back then. Right now, my townhouse has a compact laundry closet, but a laundry-mud room flex space is definitely on my next home wish list.

The post Wellness-Friendly Laundry-Mud Rooms 2024 Home Trend Prediction appeared first on Financial Level.

Are you planning to renovate your home or give it a refresh in 2024? You probably want your space to look and feel new. Trends have been interesting for the past few years. There’s been a lot of quick cycling through TikTok microtrends for the home such as Barbiecore while many major trends have been sticking around far past their prime.

Whether you’re investing money in a major renovation or doing a simple refresh, it’s crucial to go with something current so the space isn’t both brand new and dated at the same time. Here are eight interior design trends going away in 2024 according to interior designers.

Grey Accents

From walls to sofas and tile, grey was considered stylish for years. But now that time is up explains Dianne O’Connor, Founder and CEO of Weston Table. “Grey is out. The world is too upside down to consider any color that could be interpreted as somber and serious.”

On the other hand, Isy Runsewe of Isy’s Interiors calls this look a “flipper fiasco,” because it was so popular during the house-flipping craze of the past decade. “With excessive use of grey, there’s an inevitable reliance and overuse on balancing the cool grey and whites—leading to everything looking like a dolphin. Or, arguably worse— impersonal and outright sterile.”

It also seems as if many people are shying away from overly neutral spaces. “Right now everywhere I look I’m seeing bold pattern, texture, and color,” says interior designer Kate Dawson. “Since Covid, I’ve noticed my clients all wanting more personality in their homes. They want to make a statement with bright colors, bold murals, and colorful textiles.”

Sliding Barn Doors

While most of us have finally bid farewell to the live, laugh, love sign—sliding barn doors are also sliding out of style in 2024, according to Runesewe. “Barn doors are impractical and fail to perform any of the necessary functions of a door. They do a poor job of blocking light, sounds, and smells. Most rooms have doors for privacy. It’s best to avoid them in bathrooms, laundry rooms, and closets.”

He also notes that barn doors rarely complement the overall design scheme of a home. “Unless it’s already leaning into a farmhouse look, which has been a long-gone trend.”

Ultra Modern Minimalism

Less will no longer be more in the coming year. “Ultra-modern minimalism is out for 2024! We’re seeing a push towards more layered spaces full of color and pattern. Gone are the days of white walls and cookie-cutter layouts as unique configurations and ornate architectural details are having a comeback,” says Samantha Stathis-Lynch of Samantha Ware Design.

More will finally be more in 2024, with unique features and details becoming coveted design features. “Expect to see more curves, but not necessarily in your bubble sofa or swivel chair. Clients are asking for barrel-vaulted ceilings, arched doorways, and rounded windows, all of which create character and add softness to a space. To round out the lived-in feel, all things vintage are a must as they add patina and depth to your space.”

The Grand Millennial Aesthetic

Grand Millennial has been hanging on for quite a while, but Susan Klimala of TKS Design Group tells me this look will evolve in 2024. “Instead of grand millennial, let’s talk about grown-up maximalism, where color, texture, and geometric shapes can now participate.”

Dining Benches

Dining rooms tend to fall victim to the “matchy-matchy” look. So many people opt to mix up seating by using dining benches and chairs. But Runsewe tells me this look has reached its peak. “Don’t get me wrong, I love a well-designed built-in banquette, but long freestanding bench seating in lieu of dining chairs is impractical and uncomfortable. Sure, they seat at least three people, but when put to use, they’re problematic,” he says. “Everyone’s experienced it when multiple people have to get up and move themselves, and oftentimes the bench itself allows people to excuse themselves from the table.”

White Everything

From white walls to white sofas and window treatments, white was the “it” neutral for so many years. But now tastes are skewing towards warmer neutral hues. “We are definitely going away from flat white walls and in a direction incorporating walls with movement and texture as it gives a warmer feel,” says Lindye Galloway, Founder and Chief Creative Officer of Lindye Galloway Studio + Shop.

This also means those white kitchens with marble countertops and cabinets are starting to look dated “White kitchens are on their way out. While they had a strong moment, there’s a heavy pull away from this towards stain grade cabinets and warmer vs. cooler tones that make a room feel warmer.”

Pale Green

Along the same lines, pale green is also going away in 2024. Mary Alice Palmer, Global Creative Director and Founding Principal, and Olga Acosta, Global Practice Director and principal of ROAM Interior Design call this hue, “Ready for retirement.”

They aren’t incorrect. “Once known as ‘Hospital Green,’ the color resurfaced in the 80’s as ‘Seafoam,’ and no one mourned its departure in the 90’s. It may be soothing, but it is certainly not lovably rich, warm, or inviting.”

If you love green, opt for richer, darker hues including huter and olive shades, especially for kitchen cabinetry.

Curved Sofas

Palmer also tells me curved sofas will be far less ubiquitous in 2024. “Enough already! Once evocative of mid-century design, they have cropped up in everything to the exclusion of all else.”

While curved sofas have a gorgeous aesthetic, people are finally starting to realize they are impractical pieces of furniture that can be uncomfortable to sit on.

The post 8 Interior Design Trends Going Away In 2024 appeared first on Financial Level.

If you buy a house now, it can take up to 13.5 years to make a profit on your purchase, according to new data from Zillow. “The combination of rising home prices and high mortgage rates is leading to a longer period between purchase and sale before a profit can be made,” says Nicole Bachaud, senior economist at Zillow. And she tells us that the high upfront costs of a home purchase might also be driving buyers to opt for a lower down payment — which extends the time it takes for buyers to make a profit on their home.

According to Bachaud, these are estimates on how percentages (and maintenance costs) can affects the profit timeline:

· A 3% down payment would require 13 years and six months to make a profit

· A 5% down payment would require 13 years and three months to make a profit

· A 10% down payment would require 12 years and seven months to make a profit

· A 20% down payment would require 11 years and three months to make a profit

However, it’s possible to break even much sooner.

Bi-Weekly Payments

One way to pay off your mortgage faster is by making bi-weekly payments. Brandon Snow, executive director of mortgage strategy at Ally Home, points to a recent TikTok video went viral explaining a “mortgage payoff hack” for homeowners. “According to the video, if you set up bi-weekly mortgage payments instead of monthly payments, you will save about 5 years off the top of your loan on average,” Snow tells us.

According to Matt Vernon, head of consumer lending at Bank of America, “Making bimonthly payments on your mortgage can expedite payoff, potentially saving on interest and shortening the loan term.” If you make half of your monthly payment every two weeks, he tells us that you’ll end up making one extra payment each year. “Over time, this extra payment can significantly reduce the total interest paid and shorten the loan term.”

However, the actual impact may depend on other factors, like your interest rate. “If you have a higher interest rate, the savings from making bimonthly payments will likely be more significant,” Vernon explains. “Additionally, if your mortgage has a fixed interest rate, the impact is more predictable compared to variable-rate mortgages.”

So, how does this strategy play out in real-world dollar amounts? Snow gave me two different scenarios using a $332,800 mortgage (based on Federal Reserve home price estimates for the second quarter of 2023), assuming a 20% down payment.

“At a 3.5% interest rate over a 30-year mortgage term, a homeowner’s monthly payment stands at $1,494 in principal and interest (escrow not included),” Snow says. “So, if the homebuyer shifts to an accelerated bi-weekly payment plan, they would pay off their mortgage in 26.2 years at $747 per payment — saving them approximately $30K in interest over the life of the loan.”

However, since current interest rates are higher, here’s another scenario:

“With a 7% interest rate over a 30-year mortgage term, a homeowner’s monthly payment stands at $2,214 in principal and interest (escrow not included),” Snow explains. And by shifting to an accelerated bi-weekly payment plan, he says the homeowner would pay off their mortgage in 23.7 years at $1,107 per payment — saving them approximately $115k in interest over the life of the loan.

Not Always The Best Strategy

But whether this is a good strategy or not depends on several factors. If your mortgage rate is less than your savings account rate (and he says this is the situation for many people who purchased their home before 2022), Snow says you may want to maintain the usual monthly mortgage payment schedule. “With a bi-weekly payment schedule, you end up making a couple of extra payments a year, but consider investing the funds that would go towards these additional payments in a high-yield savings account,” he advises.

On the other hand, if your mortgage rate is higher than your savings account rate, Snow admits that making bimonthly mortgage payments can help to pay down the principal faster and accrue less in interest payments. “However, not all lenders offer this option, and some may charge fees to get the new payment schedule set up, so be sure to research your lender’s policies before switching your payment schedule,” he says.

Vernon agrees that you need to check to see if the bank will impose prepayment penalties. “It’s important to check with your mortgage lender to ensure they accept partial payments, and to confirm how they apply them.” Also, before changing your payment schedule, Vernon recommends that you consider your overall financial situation and determine if this new payment strategy aligns with your goals and budget.

Other Ways To Pay Down Your Mortgage Quicker

In lieu of making biweekly mortgage payments, Melissa Cohn, regional vice president at William Raveis Mortgage, tells us that you can simply make one extra payment each year, since it will have the same effect. “With any mortgage, if you make payments that are larger than the required payment, the additional amount will go to reducing principal,” she explains. “As the principal amount is reduced, each future monthly payment further accelerates the amortization of the principal amount.” And this creates a snowball effect that allows you to pay off the home a few years earlier. For some people, it may be easier to make that extra yearly payment when their income tax check arrives.

Rounding up payments is another way to pay down your mortgage faster. For example, if your monthly payment is $2,500, consider paying $2,700. “Also, explore refinancing options, allocate bonuses to your mortgage, and automate payments while reviewing and trimming expenses to redirect savings toward repayment,” Vernon says. However, he reiterates the importance of checking with your lender to understand terms and potential penalties before implementing new mortgage payment strategies.

One Homeowner’s Strategy

I also spoke with Stephanie Mickelson, a freelance writer in Eau Claire, Wisconsin. She and her husband bought their first home in June, 2023, after saving and planning for about 10 years. Their goal is to pay off their house within 5 years. Michelson recommends having the largest down payment possible. “We put down 30% on our home, which greatly reduced our monthly payments,” she says. “So instead of making larger payments on a big loan, we were able to get a smaller mortgage, which allows us to pay more on the principal.”

To save for the down payment — and pay the home off as quickly as possible — Mickelson’s husband went from working part-time to full-time to management. And since Michelson is a stay-at-home mom, she writes early in the morning before the kids get up. “I pick up as many jobs and clients as possible, and my husband has been focused on earning more as well.”

They’re also making extra payments to pay down the mortgage. However, Mickelson says it’s not coming from savings. “When we got out of debt in 2015, we set aside a six-month emergency fund, and we don’t touch it unless there’s an emergency we can’t cover from our normal budget.” The family also has another savings account for home maintenance, unexpected expenses, etc. “This means we can put as much as possible towards the loan without putting ourselves at risk financially,” she explains.

Mickelson also avoided a common first-time home buyer mistake. “When we were deciding whether or not to take out a mortgage, I sat down and looked at the actual interest we’d pay over the course of a 15-year mortgage,” she says. If the mortgage is paid off in 15 years, it will include approximately $111,000 in interest. “Our plan is to pay it off in under 5 years, and in that scenario, we’ll be paying just under $40,000 in interest, and saving $71,000.”

The post It Takes 13.5 Years To Break Even On Your Mortgage. You Can Do It Faster appeared first on Financial Level.

How do you classify a company that’s not just in the luxury hospitality game, but setting out to change its rules? As a sector shaker-upper? A pathfinder? Putting labels aside, Boston’s own Blue Flag Capital is truly proving its mettle. In under a decade, the firm has rapidly climbed the ranks in the realms of real estate private equity and development. It’s carved out a corner for itself as a creator of unrivaled boutique hotel experiences in some of the most sought-after urban vacation spots in the U.S. At the forefront of their portfolio is the acclaimed Faraway Hotels, boasting two fanciful locations with more in the pipeline, along with a selection of restaurant ventures. These establishments stand as a testament to Blue Flag’s skill in crafting havens of luxury, individuality, and strong community ties. To truly appreciate Blue Flag’s expertise, one can visit the Faraway Hotels in Nantucket and Martha’s Vineyard—and soon, also. be able to witness Blue Flag take on the wild allure of Jackson Hole with a high-profile project set to further illustrate their innovative impact on the landscape of upscale boutique hospitality.

Switching gears to a not-so-distant past, Blue Flag was just budding in influence within niche market sectors. Fast forward to today, and it stands as a frontrunner in modern hospitality. At the wheel of this evolution is CEO Jason Brown, who’s navigated Blue Flag down the road less beaten, infusing each venture with stories that echo the local essence. Brown explains, “Ultimately, this balance is something we have prioritized in the past and will continue to do so going forward as we expand to new markets. It is one centered on stewardship, with a long-term view whereby we are focused on both the asset itself as well as the market that we are in.” This mindset underscores Blue Flag’s pledge to create properties that are not just spaces, but experiences in harmony with their environment.

Blue Flag’s upcoming overhaul of Snake River Lodge in Jackson Hole, Wyoming, stands as a testament to its core principles. “Jackson Hole was a no-brainer for us,” Brown points out. “It’s right in our sweet spot: secluded, upscale resorts that are already favorites for locals and tourists alike.” Over the next few months, Brown and his crew plan to dive deep into collaboration with local experts and the Teton Village community. This move marks a departure from typical quick-fix renovations. Their aim? To inject fresh ideas into upscale hospitality, lining up with Jackson Hole and Teton Village’s forward-thinking outlook. Blue Flag is all about creating experiences that are both groundbreaking and in perfect sync with their settings.

The success of Blue Flag Capital in redefining the hospitality experience is largely due to the design prowess of Chief Design Officer Brad Guidi, whose approach is deeply intertwined with each location’s unique narrative and emotional essence. Guidi remarks, “Inspiration at first sight is crucial for any property we consider. We seek a certain indescribable spark in each location.”

This approach honors the historical essence of properties while steering them towards a new trajectory. Take, for example, Blue Flag’s debut with the Faraway property in Nantucket. Here, they breathed new life into not one, but four historic downtown buildings in 2021. This success was followed by their 2023 launch in Martha’s Vineyard, revamping The Kelley House, a legendary tavern dating back to 1742. Guidi adds, “Most of the properties we buy have been owned by the same family for generations and over the years there has been inconsistent renovations to upkeep the properties. Our process involves stripping back to basics and letting the property’s true character lead the way. I like to think we are creators of experiences. Long after you check out of our hotels you should remember it for how it made you feel. If it does, we did our job.”

The ideal has become more commonplace. Industry veterans have spotted a major shift in the boutique hotel sector in the decades following the 1990s, with more big players and new banking views marked by shorter investment periods—as a result, encouraging Blue Flag to dig deeper into characterful, individual properties and their ties with the local area. To those in the know, these principles are similar to those enshrined by Soho House, which is celebrated for its skillful blending of properties into the heart of communities and cultures. Guidi elaborates, “For example, Soho House goes deep into the building and the surrounding community when thinking through design, experiences, and what the best mix of their overall brand and the local touches should be. As do we.” This profound attention to detail and dedication to local authenticity distinguishes Blue Flag in the fiercely competitive urban vacation market. The philosophy transcends mere space creation; it’s about weaving an experience that is intrinsically interlaced with the local environment, ensuring each property is not just a place to stay but a destination that resonates with its setting. “We often say, ‘the experience is the souvenir’—and we mean it.”

Stepping up its game, Blue Flag Capital is set to expand its market reach with a hefty $450 million joint venture with Bain Capital Real Estate, announced in November 2023. They’re targeting top-notch resort markets with strong growth and demand for cutting-edge luxury boutique brands. Jared Melnik, Managing Director at Bain Capital Real Estate highlights the synergy of this partnership: “This is a compelling opportunity to invest and develop high-quality hospitality properties in some of the most in-demand destinations across the country.” This alliance is rooted in a deep understanding of hospitality and consumer real estate, focusing on markets with solid basics and high entry barriers. This move marks a strategic leap for Blue Flag, blending their creative vision with Bain Capital’s financial expertise to redefine luxury hospitality, setting new standards in guest experience.

Looking ahead, Brown envisions Blue Flag as a key player in rejuvenating complex properties in standout markets, bringing fresh innovation. “We’re pushing the envelope, always aiming to offer something new to our guests,” he states. “We want to be known as reliable partners, exceptional people, and responsible investors in our communities and properties.” For Brown, this is the essence of heartfelt hospitality.

The post Blue Flag Capital On Designing The Future Of Soulful Hospitality appeared first on Financial Level.

Artist Elizabeth Sutton is a true trailblazer. While many new artists struggle to support themselves entirely through art, Sutton’s approach and unique aesthetic have made her truly shine. While her heart has always been in painting, she’s also made a name for herself through licensing with everything from kitchen and bathroom tiles in collaboration with TileBar, rugs with Rugs America, to office chairs with The Raynor Group. So, it’s not a surprise that she’s recently opened a solo artist pop-up gallery, studio, and retail experience in West Chelsea. Sutton believes she is the first female artist to do this.

Located at 550 West 29th Street between Tenth and Eleventh avenues, it’s just a few blocks south of Hudson Yards, and just north of the famed Gagosian Gallery. Measuring approximately 5,200 square feet, it’s just as expansive as it is chic.

A Hybrid Workspace

While walking into an art gallery can feel very intimidating, Sutton’s space was created to feel the exact opposite of that. “My goal is to set myself apart from the other boring and traditional galleries in the Chelsea neighborhood, as I am the artist and not just a gallery operator,” explains the artist.

While she designed the raw space to feel happy and cheerful—it’s also intentionally accessible. “You can touch, feel, and shop my various collections including fashion accessories, tabletop, tiles, rugs, prints, wallpaper and fine art, among other things all while watching me in action. You get a behind the scenes glimpse into both the creative and business elements of my work.”

While Sutton’s original work doesn’t come cheap (her original paintings start at approximately $5000)—her other offerings are more accessibly priced. The space also allows her to show one-of-a-kind works such as a Blatt Billiards table, the first time the artist has showcased this work to the public.

Artist in Residence

Sutton is incredibly enthusiastic not only to use the space for work, but also to connect with her community. “You can expect me to be in the studio almost every Monday through Friday, painting live while also working in real-time with my team, whether doing photoshoots, art, or even just general administrative aspects of the business. I’m also hosting lots of events and fundraisers,” she says.

The large square footage (especially for New York City) gives her the flexibility to do whatever she wants with the space fully integrating every aspect of her business. “This is a fully operational working art studio that needs to function and operate in alignment with my needs to create. That is a priority, but it’s also what makes the space dynamic and interesting, beyond your average retail shop or gallery experience,” says Sutton. “Imagine you got to see Coco Chanel sewing a dress when you walked into a Chanel store?”

This is also a full-circle moment for the entrepreneur. In 2020, Sutton staged the four luxury penthouses for the residential space above the gallery. “The retail space is the last square footage still available for purchase. However, it is unfortunately beyond my budget. But, it is truly my happy place and I am deeply grateful for the opportunity to be here for the time being. It marks a sense of accomplishment and achievement that is something beyond my wildest imagination coming from where I was a mere eight years ago when I started.”

What’s Next

Sutton recently launched her first tabletop collection, which includes melamine dishes, faux-linen napkins, and vinyl placemats. While not a bad thing, it sold out faster than she anticipated. However, she is trying to make these products available again soon.

The artist also recently launched another tile collection with TileBar called the Meta Collection, which is currently showing at the gallery, and has a new collection launching in 2024, along with her first vanity collection.

2024 will surely be a major year for Sutton. Her tile collections are set to be installed in major hospitality projects, including the new Fairmont Hotel in Long Beach, Essex House New York, CapitalOne Cafe, El Conquistador in Puerto Rico, and Kissaki Miami.

In addition to all of this, the iconic Malliouhana Resort in Anguilla which recently transferred management to the Storey Hotel Group, will be collaborating with Sutton to create unique artwork, products, and art programming for the hotel’s guests this coming spring in honor of their 40th anniversary.

The post Elizabeth Sutton Opens A Gallery And Retail Experience appeared first on Financial Level.

Whether you’re starting out in real estate, or have been involved in your profession for decades, the reality is that errors will happen. Part of growing both personally and in your line of work involves making mistakes. It’s often what happens after a misstep that is most important. If you can reflect on the event and learn from it, you’ll gain valuable insight that will help you as you move forward.

Use these guidelines to learn from your mistakes and get back into the game as a better player.

1. Recognize What The Mistake Was

A couple of years into my career in brokerage, I came across what I thought was an incredible opportunity. One of my existing clients was ready to put up the family jewel. It was a larger property, and if I could help them to sell it, the transaction would become my largest to date by far.

I was invited to meet with the client and talk to them about the opportunity. I had already carried out work for them—in fact, I had just sold a smaller property of theirs and knew I had done an exceptional job. I was sure I would get this next deal, and so I walked into the meeting overly confident and assuming they were going to take me on as the broker in the sale.

Later I learned that I was only one of several professionals the client had met with to discuss the sale of the family jewel. What’s more, I realized I hadn’t done nearly as much research as the others who interviewed for it. I was less prepared and as such, I didn’t get the deal. It went to someone else who had come in with stronger information and selling points.

2. Find the Lesson in the Misstep

It was a massive disappointment to get passed over and lose out on the largest sale of my career up to that point. However, it did teach me an incredibly valuable lesson that has stuck with me ever since. I learned the importance of always bringing you’re A game to every situation. You don’t know when it will count, so it’s best to always be prepared.

I also learned to not assume that past experiences will be enough. Just because you’ve done an outstanding job in the past doesn’t mean that you can ride that wave into the next opportunity or project. This can help you avoid being overconfident and missing details that could be essential to win the business or get the next contract.

3. Look to Move Up

While it’s natural to want to avoid mistakes, they are often part of reaching toward the next level or branching into new territories. To grow in your career, it’s good to push yourself to positions that are outside of your comfort level. You can apply the lessons you learn along the way to avoid the same mistake twice.

As you move up and take on more responsibilities, you may find yourself in the role of a manager who oversees several others or a team. When this happens, you’ll want to support those at the junior level to learn from their mistakes. It can be easy for those you are supervising to look to you to have the final say in everything. If you give them a certain amount of autonomy, you’ll be giving them the chance to make their own decisions. This will give them a chance to grow as well.

Missteps are an inevitable part of any career path, and they tend to show up as we branch into new endeavors. Rather than the mistakes made, it’s the lessons learned that will help propel you toward success. Having an attitude that looks to continually improve can help you move along the journey—and encourage others to build their own careers too.

The post How To Learn From Mistakes appeared first on Financial Level.

Los Angeles is a favored offseason destination for many NBA players, making it little surprise when Trey Lyles purchased a new construction home there in 2021 despite playing for the San Antonio Spurs at the time. Now a member of the Sacramento Kings, the multi-talented forward has put his getaway in the Encino neighborhood of Los Angeles on the market for $5.9 million.

Located at 4778 Zelzah Avenue, the nearly half-acre property sits south of Ventura Boulevard on the western end of Encino. Listing agent Kate Newton of Beverly Hills-based Hilton & Hyland says that Valley neighborhoods like Sherman Oaks, Studio City and Encino have become hot spots for high-profile buyers in recent years thanks to “larger lots, which gives those who are looking for it some much-needed privacy.”

The contemporary five-bedroom residence was completed in 2020, showcasing the area’s growing number of sought-after new builds. The bold exterior marries wood, metal and stone for a facade at once natural yet refined.

Evidence of the home’s modern construction is on full display throughout the two-story structure. A sleek interior is accented by warm wood accents. An open-floor plan complemented by high ceilings and ample windows makes for light, airy living spaces. Life is simplified with a Control 4 smart home automation system.

Modern, however, does not mean that the home lacks comfort, says Newton. “The house is certainly chic but it also has a warm feeling. It’s got beautiful woodwork throughout. There are fireplaces all over.

A grand, two-story foyer welcomes you into the main house. On the first floor, multiple seating areas blend into the open dining room and kitchen. A retractable glass door leads effortlessly into the lush backyard.

“It’s Southern California, so a lot of living takes place outside,” says Newton. “The backyard has an open, heated cabana, a fire pit and a summer kitchen and then a beautiful infinity pool with a large Baja shelf.”

Fitting of its pro athlete owner, the property also encompasses a putting green, basketball half-court and an accessory dwelling quarter currently set up as a gym.

Upstairs, the primary suite features a fireplace, sizable walk-in closet and accordion doors opening to a spacious balcony. The three remaining en suite bedrooms all offer generous closets.

Other highlights include a screening room, wine display and second-story deck positioned in the front of the house.

At the time of the home’s purchase, Lyles was signed with the San Antonio Spurs before a brief stint with the Detroit Pistons. After missing a handful of games at the beginning of the season due to a calf injury, the Canadian-born player returned in November.

MORE FROM FORBES GLOBAL PROPERTIES

The post Sacramento Kings’ Trey Lyles Posts His Los Angeles Retreat For $5.9 Million appeared first on Financial Level.

—

New homeowners (and renters) will appreciate new TV, audio, and home theatre items to upgrade their entertainment space. As with choosing tech gifts and gadgets, new products in these areas are released on a routine basis, and when you’re gifting items, you’re balancing what you think they want, with what will be a practical and useful item that can be enjoyed for years – or until the next great technology is released.

We’ve got some expert tips to help you choose, along with some suggestions.

Soundbars

People moving to a larger space will want to get something more powerful, and with a wireless subwoofer to add bass, says Carl Prouty, a technologist at Abt Electronics in Glenview, IL. “If they’re moving into a smaller space, consider something that doesn’t include a separate subwoofer, as that may take up floor space they don’t have available,” he tells us.

With people moving into a condo or apartment, Prouty says you may also want to consider something without a subwoofer since some of them are powerful enough to shake the ceiling of a downstairs neighbor, or the floor of an upstairs neighbor. “A key feature to look for would be an HDMI connection, as that is currently the most popular way to connect a TV to a soundbar.”

Bluetooth and WiFi are also useful as they allow users to stream music from a phone, tablet, or computer to the speaker. “Some brands, like Bose, offer soundbars that you can integrate into a full home audio system through Wi-Fi so you don’t need to run wires all over the place if you want sound throughout the home,” Prouty says.

TVs

Space is again a major factor to consider as you’re pondering what screen size to get as a gift. Prouty says you’ll also want to keep in mind how it’s being installed. “If the TV is going on the wall, then size tends to be less of a factor; however, if it’s going on an entertainment stand, you’ll need to make sure the pedestal of the TV will fit on top of the stand.”

Home Theaters

You can get a home theater with a speaker only, or with an A/V receiver. “The safer bet is to purchase a system that comes with a receiver, as those will have the essential main components,” Prouty says. If the new homeowner already has a receiver, he notes that a speaker package can be a nice way to upgrade their sound, but warns they’re not always a universal fit. “You’ll also want to consider the additional work involved in setting up a home theater system,” Prouty says. “Most will require wires, which aren’t typically included with the set, to be run from the receiver to the speakers, which can make the install quite a bit trickier. “It’s far easier to install a soundbar than a full set of speakers in most cases.”

These are some of the TV/audio/home theatre items to consider for housewarming gifts:

TCL 55” Q Class 4K QLED HDR Smart TV

Not too big, not to small, the TCL 55” Q-Class 4K QLED HDR Smart TV is the perfect size for most people — and it also comes in 65-inch, 75-inch, and 85-inch versions as well. Quantum dot technology and 4K UHD resolution produce bright, vivid, lifelike images with over 200 local dimming zones. The TV has Dolby Vision IQ and Dolby Atmos, along with a 120Hz fresh rate. It also has a voice remote and works with Alexa.

Polk Audio Magnifi Mini AX Sound Bar

A powerful sound bar that doesn’t take up much space, the Polk Audio Magnifi Mini AX also has a subwoofer, and provides Dolby Atmos and DTS:X cinematic surround sound. The 3D soundstage, clear dialogue, and deep bass make the soundbar great for music streaming as well. The subwoofer can be set up 30 feet away from the soundbar, and has a bass adjust setting. The sound bar includes HDMI, eARC, optical, and 3.5mm inputs.

Victrola Hi-Res Carbon Turntable

Vinyl records are making a comeback — in fact, according to the Recording Industry Association of America, vinyl sales have grown for the past straight 16 years. The user-friendly Victrola Hi-Res Carbon Turntable connects wirelessly (to speakers or headphones) using built-in aptX Adaptive Bluetooth connectivity, but it can also provide a wired connection using the switchable preamp and RCA outputs. The quality materials, including the carbon fiber tonearm, adjustable counterweight, and cartridge combine to produce a sound that’s quite impressive.

Bose Smart Ultra Soundbar

The Bose Smart Ultra Soundbar can connect with other Bose speakers and headphones, and it connect vis WiFi, Bluetooth, Spotify Connect, and Apple Airplay. The surround sound system includes both Dolby Atmos and Bose True Space (which can separate sounds), as well as AI dialogue mode, for immersive experiences. The soundbar is also easy to set up: just plug and play. The Bose Music App can be used to set up the soundbar, choose a voice assistant, and also control the TV instead of using the included remote. Bose also makes a Steal the Thunder Home Theater Sound System, which includes a soundboard, bass module, and a pair of surround speakers.

XGIMI Horizon Pro 4K Projector

An alternative to a TV is to watch movies on the XGIMI Horizon Pro 4K Projector, which provides 4K resolution for stunningly clear images in sizes ranging from 40 inches to 200 inches. The projector is bright (with 1500 ISO lumens), and has auto focus and auto keystone correction. Built-in speakers with DTS HD and Dolby Audio result in home theatre surround sound. The projector has an Android TV 10. 0 operating system, and Google Play Store is integrated for access to over 5,000 apps, including Showtime, HBO, and YouTube. In addition, Google Assistant provides voice control.

U-Turn Audio Orbit Basic Turntable

A great entry-level record player is the U-Turn Audio Orbit Basic Turntable, which is easy to set up and play. It has a seamless silicon drive belt with a low-noise AC synchronous motor, and manual speed control (from 33 to 45 RPM). The turntable has a one-piece magnesium armtube and uses an Audio-Technica cartridge. It’s available with or without a built-in preamp. Color choices are plentiful and include Black, White, Red, Blue, Green, Oak, and Walnut.

Klipsch R-50M Bookshelf Speakers

For space-challenged gift recipients, the Klipsch R-50M Bookshelf Speakers don’t take up much space, but look and sound good wherever they’re placed. And the outer horn dimensions have been increased to provide even more immersive sound, whether watching movies or listening to music. In addition, the linear travel suspension in the aluminum tweeters provide detailed, clear audio and eliminates distortion. The housing is also quite durable: the MDF cabinets are made of textured wood grain vinyl that resists scratches.

VMP (Vinyl Me, Please)

Vinyl lovers will also appreciate new music, and VMP (Vinyl Me, Please) has a record of the month club and also an online record store. The company sells music to anyone, but club members get discounts and early access. Music ranges from rock and country to soul and hip-hop. Some of the available artists available on the website include Aretha Franklin, Whitney Houston, Fiona Apple, Dolly Parton, Stone Temple Pilots, and Fleetwood Mac.

OnePlus Open Smartphone

To stream from the smartphone to speakers and the TV, your new homeowner or renter may need a new, powerful phone. The OnePlus Open Smartphone uses Snapdragon 8 Gen 2, has 16GB of RAM, and 512GB of read-only memory. It supports Wi-Fi-7 and dual 5G for fast and stable connections. The smartphone also has a 48MP Sony Lytia pixel-stacked primary camera and a 48MP ultra-wide angle camera that includes auto focus. There are also two self cameras (20MP and 32MP) on the cover screen. This fun flip phone is available in Voyager Black and Emerald Dush.

Bowers & Wilkins Px7 S2e Headphones

If you’re not sure which would item would make a suitable homewarming gift, you can’t go wrong with the Bowers & Wilkins Px7 S2e Headphones (or another type of noise-cancelling headphones). With a 30-hour battery life, the headphones provide over a day’s worth of listening time, and can also be used to accept phone calls. They’re comfortable, with foam earpads that are luxurious and cushy, and an adjustable headband makes it easy to find the best fit. The active noise cancelling feature blocks unwanted sounds, and the Bowers & Wilkins Music App can be used for voice assistant support and direct streaming.

The post Best Housewarming Gifts: TV/Audio/Home Theatre Items For The Home appeared first on Financial Level.