Winter storm power outage tracker: Check your county’s status
Could you eat for 3 days without cooking? That is the question I want you to ask yourself ahead of this winter storm. Here’s what FEMA says you need to have on hand just in case you lose power. First, always follow guidance from your local officials and emergency management, but generally FEMA recommends having at least *** 3 day supply of food that is safe and easy to eat if the power goes out. So that means shelf stable foods that don’t require. Cooking or *** lot of prep. So think canned items like tuna, chicken, fruits, vegetables, beans, also things like peanut butter, bread, protein bars. Go ahead and check what’s already in your pantry first before you go out and buy anything. And also find your can opener now. Now if you want to cook your food, FEMA says things like candle warmers, chafing dishes, fondue pots, or fireplaces are safe to use during an emergency. But when it comes to Things like *** portable grill, *** camping stove, also your generators, those need to go outside. Carbon monoxide poisoning is extremely dangerous. It can kill you. For water, FEMA recommends 1 gallon per person per day, and that may sound like *** lot, but it’s meant to cover drinking and basic hygiene, so things like brushing your teeth and washing your hands. This is *** basic starting point, and we’re sharing more detailed guidance on our website. So head there for our full checklist.
Winter storm power outage tracker: Check your county’s status
A powerful winter storm is bringing blizzard conditions to the northeastern United States. The Get the Facts Data Team is tracking power outages by county. The data comes from PowerOutage.com and tracks outages for homes and businesses. Data will update throughout the day in the maps below.National MapMassachusettsNew JerseyDelawareMarylandNew York PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiPiFmdW5jdGlvbigpeyJ1c2Ugc3RyaWN0Ijt3aW5kb3cuYWRkRXZlbnRMaXN0ZW5lcigibWVzc2FnZSIsKGZ1bmN0aW9uKGUpe2lmKHZvaWQgMCE9PWUuZGF0YVsiZGF0YXdyYXBwZXItaGVpZ2h0Il0pe3ZhciB0PWRvY3VtZW50LnF1ZXJ5U2VsZWN0b3JBbGwoImlmcmFtZSIpO2Zvcih2YXIgYSBpbiBlLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdKWZvcih2YXIgcj0wO3I8dC5sZW5ndGg7cisrKXtpZih0W3JdLmNvbnRlbnRXaW5kb3c9PT1lLnNvdXJjZSl0W3JdLnN0eWxlLmhlaWdodD1lLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdW2FdKyJweCJ9fX0pKX0oKTs8L3NjcmlwdD4=
WASHINGTON —
A powerful winter storm is bringing blizzard conditions to the northeastern United States.
The Get the Facts Data Team is tracking power outages by county. The data comes from PowerOutage.com and tracks outages for homes and businesses. Data will update throughout the day in the maps below.
After saying goodbye to “The Real Housewives of Beverly Hills,” Garcelle Beauvais is putting all that drama in the rearview and focusing on acting and producing.
She stars as Ava alongside Boris Kodjoe, who plays Ellis, and Vaughn Hebron, who portrays Luke, in “Tempted 2 Love,” a sequel to her Lifetime movie “Tempted by Love.”
Garcelle and her co-stars stopped by “Extra” to chat about the movie, but first we had to ask if she follows the “Real Housewives” drama.
She insisted, “No, I don’t keep up with that. But, you know, I wish everybody well and I hope they do great.”
Would she ever return to the franchise? Beauvais was quick to say, “No,” but added, “Never say never, but I don’t see it in the near future.”
Dishing on “Tempted 2 Love,” she said of her character, “Ava is in Europe,” pointing to Boris, she says, “She is with a new partner who is amazing… and then who comes along? Luke.”
Vaughn quipped, “It’s not hard to throw things off if they weren’t really stable.”
Boris shot back, “If only one party gives 100 percent, it’s really hard to be stable.”
The Duke and Duchess of Sussex have carved out a dream life in the US with their two children, Prince Archie and Princess Lilibet, and there’s nothing more idyllic than their vast $29 million estate in the celebrity hotspot of Montecito. It boasts an array of impressive features, including an outdoor pool, a wine cellar, an over-water spa room and a giant children’s playpark, but it is their toilets that have piqued everyone’s interest.
A video shared by @globalstarhomes outlined their property, revealing that it has nine bedrooms and 16 bathrooms, and fans were astounded. Comments included: “Nine bedrooms and 16 toilets. Really!!!!” and: “Why would they need all that? Living above their means for no purpose. Not like they even have any parties. Scale down and enjoy living.” Another user joked: “They’ve got 16 thrones where they are.”
The exterior of Harry and Meghan’s property
While 16 bathrooms may seem rather excessive, having written about celebrity homes for more than five years now, I can tell you that it is fairly commonplace, particularly in sprawling US mansions. So why so many lavatories? Here’s the truth…
These vast estates often have an array of features like a home gym, spa room, pool, games room, tennis courts, home cinemas and each of these spaces would come with its own toilet, handy for guests to use when they are enjoying the facilities. Not to mention the extra bathrooms tagged on as en suites to bedrooms and one in the entranceway, making easy access for guests.
As well as being convenient for guests visiting the property, it also adds a level of privacy for the homeowners, as their visitors do not have to use their private bathroom. Plus, most A-listers and royals have their own cleaners, so there’s no worry about the extra spaces they will have to scrub!
The Duchess has revealed that they were taken by the house as soon as they saw it. “We did everything we could to get this house,” Meghan told The Cut. “Because you walk in and go… Joy. And exhale. And calm. It’s healing. You feel free.”
LISTEN: We discuss the latest royal news
She also opened up about their favourite feature in the garden. “One of the first things my husband saw when we walked around the house was those two palm trees,” she told the magazine. “See how they’re connected at the bottom? He goes, ‘My love, it’s us.’ And now every day when Archie goes by us, he says, ‘Hi, Momma. Hi, Papa.’”
Talking about life in the States more generally, Prince Harry spoke at the New York Times 2024 DealBook Summit, and said: “I very much enjoy living here and bringing up my kids here,” he said before explaining that his children have the freedom to do things that they “undoubtedly wouldn’t be able to do in the UK.”
We saw many clips inside their residence during their Netflix docuseries, Harry & Meghan, however, they chose to do the interview filming at a nearby mansion. Then, Meghan chose to shoot her With Love, Meghan show at a rental too, in order to maintain privacy at their family abode.
His Majesty King Charles III started 2026 with a rather difficult decision – to close his beloved Scottish home, Balmoral, albeit temporarily. On Friday 2 January, the monarch shut the gates of the estate due to adverse weather conditions.
An update from the team on Instagram read: “Balmoral is closed to the public today (Friday 2nd January) due to winter weather conditions and an active weather warning. Please follow our Facebook and Instagram pages or visit balmoralcastle.com for the latest opening information. Take care and stay safe.”
How long will Balmoral Castle be closed for?
At present the castle is showing as being open tomorrow but while members of the public await further news from the team, they may also be watching weather reports. According to the Met Office, Aberdeenshire, where Balmoral Castle is located, currently has an amber weather warning in place and it remains in place until Saturday midday. Therefore, it could mean that the royal residence won’t reopen until after this.
The notice on the website says: “Heavy snow showers will become more frequent and may merge to give longer spells of snow at times. The area and period covered by this warning are when the heaviest and most disruptive snow is thought most likely during the current cold spell, with existing yellow warnings covering a wider area and a longer period.”
Balmoral Castle is often exposed to extreme elements
This decision to close the place entirely is never taken lightly; however, it has happened more frequently throughout 2025. As Homes Editor, I’ve covered royal residence closures on multiple occasions and although members of the public may be disappointed, it is good to see public safety being prioritised.
The monarch is thought to be spending time at Sandringham in Norfolk still, where he spent the festive period, celebrating with his family and attending church on Christmas Day. Therefore, he will be thankfully out of the extreme weather area. The King doesn’t have any upcoming engagements listed on the official court circular, but knowing his unwavering work ethic, we’re sure he’ll be renewed, refreshed and ready to get back to it soon.
Charles has sent his prayers to those affected in Switzerland
Despite being on his festive break, he did interrupt it for an important message, sharing a statement about the tragedy in Crans-Montana, Switzerland, where 40 people were killed in a fire.
“My wife and I were appalled, and greatly saddened, to learn of the devastating fire last night in Crans-Montana, in Switzerland,” the King said.
“It is utterly heartbreaking that a night of celebration for young people and families instead turned to such nightmarish tragedy.
“While offering our admiration for the heroic first responders and the selfless emergency services, we wanted, above all, to convey our deepest possible sympathy to all those who have been so dreadfully affected by this horrific disaster.
“Our most heartfelt thoughts and prayers are with the loved ones of all those who have so tragically lost their lives and with those who remain in a critical condition in hospital.”
The Knox Crossing mixed-use community would include around 330 apartments and 430 townhomes, according to the developer’s site plan.
Cline Design Associates
A South Carolina developer plans a major mixed-use community at a prime Lake Norman intersection that will include hundreds of apartments and townhomes and a grocery store, public records show.
Knox Crossing by Mount Pleasant developer WLA Enterprises Inc. would cover 44 vacant acres on the northeast corner of Sam Furr Road (N.C. 73) and Old Statesville Road (N.C. 115) in Huntersville, according to the developer’s rezoning application.
Plans call for around 330 apartments and 430 townhomes in four- and five-story buildings, according to the developer’s site plan filed at the Huntersville Planning Department.
The development also would include a gas station and retail shops.
The Knox Crossing mixed-use community would include around 330 apartments and 430 townhomes, according to the developer’s site plan. Cline Design Associates
Timetable for a decision
On Tuesday, the Huntersville Board of Commissioners will consider scheduling a public hearing on the rezoning request at 6 p.m. Feb. 3 at Town Hall, 101 Huntersville-Concord Road.
The Huntersville Planning Board would consider making a recommendation on the rezoning at 6:30 p.m. Feb. 24 at Town Hall. The Planning Board is an advisory panel that makes recommendations to the Town Board, which has final say.
At 6 p.m. March 17, the Town Board is scheduled to vote on the request.
Joe Marusak has been a reporter for The Charlotte Observer since 1989 covering the people, municipalities and major news events of the region, and was a news bureau editor for the paper. He currently reports on breaking news. Support my work with a digital subscription
But the new paradigm for fighting these fires contains an inconvenient truth. Most people don’t live in new houses, and most building codes aren’t as strict as California’s. And so, for the large majority of the approximately fifty million U.S. homes in the WUI, fire prevention falls to individual homeowners—it’s voluntary and ad hoc. “The approach that has been taken for the last quarter century has been one of, ‘Hey, something is better than nothing,’ ” Maranghides told me. “And, from a fire perspective, that is absolutely not true. Fire doesn’t work that way.” A homeowner could complete eighty per cent of fire-protection measures, potentially spending many tens of thousands of dollars on retrofits, and lose their house because of the twenty per cent that remains unfinished—in no small part because of uncontrollable, unpredictable embers.
This reality has led Maranghides to a position so logical that it reminded me of Spock, the ultra-rational character from “Star Trek.” For homes to survive fire disasters on their own, he said, people who live on the boundary with wildlands should not only clear sources of fuel from around their properties but also make a hundred per cent of potential home-hardening improvements. Even these extraordinary measures, he went on, are insufficient. No home is an island, and dense housing developments can protect themselves only if every neighbor does the same work. Such recommendations are so stringent that they may seem impossible; some of Maranghides’s colleagues in the fire-prevention world worry that the message will deter the public from trying. “You cannot pick and choose,” Maranghides told me. “The science tells us you have to do everything.”
For much of the twentieth century, forest fires tended to threaten rural communities. Over time, a particular approach to fire prevention emerged: if your house sat on a spacious parcel in or near the woods, you could work to protect it by creating a buffer around it. In the sixties, a California law supported by the state’s fire agency advanced the foundational concept of defensible space, a zone of up to a hundred feet where fuels such as brush and trees are strategically trimmed back and managed. The U.S. Forest Service eventually recommended the practice. But, throughout the decades, housing developments crept toward wildlands, the climate warmed, and fires increasingly escalated into unstoppable urban conflagrations. In the past decade, California’s most destructive fires incinerated more than fifty-seven thousand homes, commercial properties, and other structures. And, when the nearest source of fuel is not the woods but, rather, the house next door, a broader strategy is needed. Houses had to be hardened to make them less likely to go up in flames.
This past spring, I visited Maranghides at the National Fire Research Laboratory, which studies hardening strategies in a hulking, warehouse-like structure on NIST’s campus in Gaithersburg, Maryland. Enormous ventilation pipes were coiled like snakes on the roof of the building. Maranghides, bespectacled and in jeans, met me in the vestibule, where we grabbed white hard hats. From there, we entered a cavernous room with a reinforced concrete floor. A roughly fifty-square-foot air-exhaust hood—an industrial version of what one finds in home kitchens—hung from the ceiling.
A dozen researchers were gathered around a mockup of a single-story dwelling. A beige façade made from cement fibreboard featured a double-pane slider window, an asphalt-composite shingle roof, and a metal gutter. It was designed to be highly fire-resistant, in keeping with Chapter 7A and the International Wildland-Urban Interface Code. (The house was like a stage set, with scaffolding where the other three walls would have been; sensors tracked metrics such as temperature and heat flux.) But all eyes were focussed on a small shed made from corrugated steel sitting five feet from the house. Its open door, facing the dwelling, revealed stacks of wood inside.
“Stand by for ignition,” a voice announced through a loudspeaker. A man in firefighting gear approached the shed, used a propane torch to set a fire, and walked away. Within minutes, an incandescent blaze was shooting out the door toward the wall. We could hear loud crackling; embers flew about. Soon, orange-red flames began to lick the wall and the roof’s open eaves. Smoke spiralled upward. The window frame, which was made from white vinyl, started melting and then ignited. Around ten minutes into the experiment, the eaves were burning. A glass window pane fell to the ground.
Prince William has given a candid interview to Hollywood actor Eugene Levy for his Apple TV+ series, The Reluctant Traveler. But the in-depth chat happened at Windsor Castle and not Prince William’s home, Adelaide Cottage, despite it being so close. Here’s why the Prince of Wales chose not to invite the Schitt’s Creek actor into his four-bed home…
Privacy for his family
First and foremost, Prince William has always maintained a level of privacy for his children, Prince George, Princess Charlotte and Prince Louis. Their current home, Adelaide Cottage, hasn’t been pictured inside, and he does not conduct official meetings there. It is very much a private family home, and he likes to keep it that way. Instead, William chooses to conduct his royal duties at the nearby Windsor Castle, which is where he hosted Eugene, giving him quite the grand tour!
When someone goes to interview royalty, it seems only fitting that they would get to step inside a special royal residence, so that’s perhaps another reason William chose to have the conversation at the castle. It’s the oldest and largest inhabited castle in the world, featuring over 1,000 rooms – so it’s safe to say, it’s rather impressive!
As he and Eugene walked through St George’s Hall inside the castle, William recounted his childhood memories there. He admitted that he and his cousins would end up with “massive splinters” from running up and down the old oak floor, which has since been carpeted. “My children don’t realise how lucky they are, they’ve got a big old carpet they can run down and there’s no splinters,” he says. “We come in after hours and chase each other around sometimes.”
WATCH: What we know about Prince William’s private home
He also touched on the fact that he would spend time with his grandparents Queen Elizabeth II and Prince Philip at Windsor Castle, where he would visit them for “the best tea ever”. The late Queen was a great hostess, and Prince Edward’s wife, Sophie, has admitted that she would also often visit for tea.
Prince William and his family are set to relocate from Adelaide Cottage to a much bigger property, Forest Lodge. While this will give them more space, it is believed they will still keep the property largely under wraps and not allow members of the public to see too much inside. The house is undergoing renovations ahead of the big move, to bring the interiors up to date and also secure the perimeter for maximum safety.
Neighbours have been put out by the changes in the area, when a car park with gate access to Windsor Great Park shut for good. According to The Sun, an order read: “Due to the pending designation of part of the Great Park as an exclusion area, access via Cranbourne Gate will permanently cease.”
Yolanda Hadid, the former model and star on “The Real Housewives of Beverly Hills,” has put her 32-acre New Hope farm on the market for $10.88 million.
Hadid, the mother of supermodels Gigi and Bella, has owned the Bucks County property since 2017. She bought the lavender farm, which has a 19th-century stone home and two cottages, for $4 million following her divorce with ex-husband David Foster.
Hadid, 61, was living in Los Angeles at the time and said she fell in love with the property during a visit to Bucks County. New Hope, an artsy and bucolic town with a thriving Main Street, has increasingly become a preferred market for celebrities seeking havens outside New York. Hadid, who grew up in the Netherlands, was battling yearslong health problems stemming from Lyme disease and wanted to find a place reminiscent of her rural European childhood.
Keith Conrey/Tohickon Media
A courtyard area is surrounded by the stone home and cottages on the 32-acre New Hope farm.
Keith Conrey/Tohickon Media
The New Hope property has three renovated cottages.
Keith Conrey/Tohickon Media
The home at the 32-acre property in New Hope contains acres farmland and pasture for horses.
“I longed for a sanctuary where I could heal and reconnect with Mother Earth,” Hadid said in a statement sent by her publicist.
Daughters Gigi, 30, and Bella, 28, from Yolanda’s first marriage to real estate developer Mohamed Hadid, were fast-rising stars in New York City. Yolanda said she bought the farm to give her family a refuge from “the enormous pressure of being in the global spotlight.”
Photos of the property show a luxurious retreat that underwent extensive renovations in the years since Hadid bought the farm. The property has a barn that Yolanda’s son Anwar, of the band HowVanish, converted into a music recording studio. The three-bedroom stone home was remodeled with a European aesthetic. Three other buildings on the property, including a corn crib, have a combined four additional bedrooms.
Keith Conrey/Tohickon Media
The living room at the New Hope property is shown above.
Keith Conrey/Tohickon Media
The kitchen in the 19th century stone home on the New Hope property is shown above.
Keith Conrey/Tohickon Media
A bedroom with a fireplace at the New Hope property is shown above.
Hadid said her daughters rode horses on the property during their visits — which increased during the COVID-19 pandemic — and the family put about 3,000 lavender plants on the farm with help from friends. The lavender inspired Bella Hadid to develop her Orebella fragrance line, which debuted last year.
The New Hope property garnered attention in 2021 when former One Direction singer Zayn Malik was charged with harassment following an argument with the Hadid family at the farm. Gigi has a 5-year-old daughter with Malik, who pleaded no contest to the charges and served about a year of probation. The couple are no longer together, but Malik also owns a home in New Hope.
Keith Conrey/Tohickon Media
Supermodels Gigi and Bella Hadid spent years riding horses at the New Hope property after their mother, Yolanda, purchased the farm in 2017.
Provided Image/Yolanda Hadid
Yolanda Hadid planted lavender on the New Hope farm.
Keith Conrey/Tohickon Media
The property in New Hope has an in-ground swimming pool.
Gigi, one of the world’s highest-paid fashion models, has been in a new relationship with star actor and Jenkintown native Bradley Cooper since 2023. Last year, Cooper purchased a 33-acre New Hope farm with a seven-bedroom home and a private lake on the property for a reported $6.5 million.
The sale of Hadid’s farm is being handled by Carl Gambino of Compass Real Estate and Revi Haviv of Addison Wolfe Real Estate. The agents told the Wall Street Journal another property in Bucks County sold for $12.98 million last year. Yolanda Hadid has already purchased another home in Bucks County and plans to stay in the area.
Keith Conrey/Tohickon Media
Above, an aerial view of the farm property in New Hope.
Gambino said Monday he expects Bucks County to attract more big names in the coming years.
“We expanded to Bucks County to service our existing client base along with the influx of high net worth and entertainment clients who have been purchasing there,” he said. “I believe (this) will continue on because of its close proximity to NYC and exceptional rural living. It’s truly a magical place.”
While we’d all love an outdoor space that rivaled that of Kew Gardens, creating a stunning garden can often seem like an arduous task – not to mention one that breaks the bank. But an expensive-looking garden can be achieved without the likes of pricey plants or professional landscaping.
With some thoughtful planning and simple tricks, you can create your dream outdoor space that suits both your style and budget – even if you’re not particularly green-thumbed. From creating a stylish statement piece to picking the right colours for your space, these seven expert-approved tips will help you transform your garden into a sleek, sophisticated retreat
“For a simple, low-cost garden idea with instant impact, adding a splash of colour is a guaranteed way to completely transform your garden,” says Molly Woodward-Moor, interior designer and creative director at Stone Superstore. “With the right type of paint, you can refresh furniture, fencing, planter boxes, or even your old paving slabs.”
Molly suggests going for darker colours, like black or muted navy, for your wooden fencing, to provide a contrast against the lighter greens of planting while also hiding dirt and moss more effectively. “Black stained fencing is a popular garden trend that is set to stay, providing a chic focal point that stylish furniture and vibrant planting really stands out against.”
“Outdoor lighting is an impactful addition for any patio space that is low cost and high reward,” says Molly. “Floor lanterns or stake lamps dispersed along a path or throughout a planting bed will create pockets of warm glowing light.”
To further illuminate your space, she suggests incorporating string lights between fence posts or pergola structures, or wrapping them around a tree.
Painting old furniture is an easy way to revamp your garden
“Upcycling or DIY-ing your own furniture is a budget-friendly way to refresh your garden,” says Molly. “You can use paints, wood-stains, waterproof upholstery, or even decorative tiles to get creative with.”
You can also source second-hand furniture on local marketplaces to give some TLC, and most likely score a bargain. “Make sure you properly prepare any surfaces, and use paints and adhesives designed for outdoor furniture, meaning your hard work won’t go to waste after a wet spell,” adds Molly.
Perennials can help hone your garden’s colour scheme
“Fill your borders with evergreen shrubs or colourful perennials, like peonies, hydrangeas, and lavender, which will look great each year,” says Molly. Not only do you save money, but you can avoid having to replant frequently.
Choosing plants that return each year also makes it easier to build a consistent colour scheme, helping your garden look more polished and cohesive.
Zoning your garden can help it feel less cluttered
Molly advises zoning your garden through paving, furniture arrangements, or planting, to visually separate different areas of your garden, like your outdoor dining area. “This segmentation makes the space feel less cluttered and ultimately creates the illusion of a bigger area,” she says.
It also helps you make the most of your garden by creating distinct spaces for relaxing, entertaining, or even growing food.
A trellis is a popular choice for a statement piece
“It can sometimes be hard to put a cap on your creativity, but it’s important not to overwhelm your layout with too many different styles,” Molly explains. Aim for simple furniture, low-maintenance features, and focal points that don’t complicate your garden.
Choosing just one standout feature, like a colourful trellis or a sculptural bench, can create visual interest without cluttering the space.
You can make a fun statement piece without being green fingered
“If you’re not particularly green-fingered, you might be looking to express your personality in other ways,” says Molly. “One approach is creating a dynamic feature that can act as a focal point, complimenting your furniture or paving.”
You can also pick a statement colour that ties in with your flower beds to paint your fence, for a cohesive pop of colour. Molly suggests a DIY tiled table for a renter-friendly option, a trend which is taking social media by storm.
Molly’s biggest outdoor trends for 2025
Indoor/Outdoor Living
“Gardeners are increasingly blending interior and exterior spaces, using cohesive materials and versatile furnishings to create seamless, stylish transitions between indoors and out. From patterned rugs and trendy cushions to decorative lighting, these versatile pieces are a great way of letting your personality spill into your outdoor lounging space.”
Circular Gardens
“Circular gardens are rapidly gaining popularity, as a design approach that focuses on creating inviting and intimate spaces. The key to achieving this trend is to create a curved feature, whether that’s a cosy seating area or flower bed, and work outwards from there.”
“Chaos gardening celebrates the beauty of natural growth, encouraging free form planting that nurtures biodiversity. This trend is ideal for those seeking a low-maintenance garden that evolves organically.”
Green Drenching
“Green drenching is about creating an immersive space where greenery takes centre stage, focusing on enveloping your garden with a variety of herbs and plants to surround yourself with fresh and vibrant foliage. Apply this same theory to your outdoor decor and furniture such as green cushions or cosy blankets to add comfort while enhancing the trend.”
Landsea Homes Corporation announced it has sold all of its homes at Greenfield Village in Davenport near Disney in Central Florida.
The Greenfield Village master-planned community is located just 12 miles from Walt Disney World and offers resort-style amenities like a zero-entry pool, splash pad, and playground.
Greenfield Village is comprised of 136 single-family homes ranging from 1,517 square feet to 3,198 square feet.
“Greenfield Village provided a vibrant lifestyle with vacation-like amenities while ensuring proximity to the region’s best entertainment, shopping, dining, and numerous golf courses,” said Megan Bakel, Vice President of Sales and Marketing, Florida Division, Landsea Homes. “Homebuyers were naturally drawn to the chance to own in this outstanding community, and eager to embrace Greenfield Village’s unique lifestyle. There are still other opportunities for homebuyers to own in the thriving Davenport area, with three outstanding communities currently available.”
Homes are currently available at other Davenport communities by Landsea Homes including Legacy Landings, Preservation Pointe, and Horse Creek at Crosswinds.
Landsea Homes Corporation is a publicly traded residential homebuilder based in Dallas, Texas that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation’s most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Colorado, Florida, Texas and throughout California in Silicon Valley, Los Angeles, and OrangeCounty.
The Prince and Princess of Wales are raising their children in the most idyllic setting – Adelaide Cottage on the leafy Windsor Home Park Estate.
However, Kate’s first taste of royal life came in 2010 following Prince William’s proposal. Kate née Middleton, now 42, was offered Princess Diana’s iconic blue sapphire and diamond engagement ring when Prince William got down on one knee and the couple retreated to a stunning mountainside lodge that couldn’t be further from their royal cottage home.
Vogue reported that the Prince spent time with his new fiancé, whom he met while studying at St Andrew’s University, at the Rutundu Log Cabin on the slopes of Mount Kenya. The property is set off the beaten track – a perfect spot for those yearning for serenity and privacy.
The Kenyan landscape holds happy memories for the Waleses
The cabin, which costs £130 per night, is described as “perfect for fishermen, walkers, families, adventurers, and those simply wanting to experience the tranquility of the mountain.”
The prince was not afraid of choosing a lodge without his usual royal comforts. The property is entirely self-catered and has no phone signal – you would have to walk for 25 minutes to have any chance of calling Buckingham Palace.
Having said that, the cabin, which is described as having an Alaskan-style interior, is perfectly cosy with an open log fire and verandah for soaking in the stunning natural views.
You may also likeThe Royal Residences: A Look Inside
A second Kenyan retreat
Though William is said to have flown Kate up the slopes of Mount Kenya to propose by the mountain’s glacial lakes, the Waleses enjoyed an equally romantic time at the Lewa Wildlife Conservancy.
The 55,000-acre estate is a privately owned reserve home to 21 tents perfectly positioned for animal-watching.
Here guests can enjoy three-course meals and guided bush walks. Wake-up calls are far from being jolted from your slumber by a phone alarm. Guests at the Lewa reserve are treated to morning birdsong before breakfast and elephant spotting.
The couple’s Adelaide Cottage lifestyle
Leafy Windsor couldn’t be further from their beautiful engagement spot. The family of five’s royal residence is a Grade II listed candy pink cottage which formerly featured a marble Graeco-Egyptian fireplace and a ceiling covered with gilded dolphins.
The bolthole is nestled in the heart of the 655-acre Windsor estate and thus perfectly caters to Kate’s love of the outdoors – something she could have indulged in to the highest degree on her romantic Kenyan getaway all those years ago.
LOVE THE ROYALS? JOIN THE CLUB!
If you are reading this, the chances are you are obsessed with all things royalty – which is just as well because so are we! So obsessed, in fact, we’ve launched a club solely dedicated to covering them. So welcome to The HELLO! Royal Club. We would love you to join us there…
What is it?
Interactive community offering behind-the-scenes access, exclusive royal interviews, unmissable royal insights, and an illustrious royal Inner Circle.
Video posts and audio notes from Emily Nash and the HELLO! Royal team
Access to our royal community and opportunity to interact with club writers and members
Participate in polls, comments and discussion threads
Royal-themed puzzles with a weekly prize to be won
Access to our Ask Me Anything sessions with our journalists
Invitations to in-person and virtual events
A subscription to the digital edition of HELLO! Magazine (Worth £82 annually)*
Future ‘Inner Circle’ benefits
By royal decree
You are royally invited to join The HELLO! Royal Club – and then to go forth and spread the word to your fellow royal fans. See you in the club!
Sign up to HELLO Daily! for the best royal, celebrity and lifestyle coverage
By entering your details, you are agreeing to HELLO! Magazine User Data Protection Policy. You can unsubscribe at any time. For more information, please click here.
Art collector Mana Jalalian couldn’t have found a better place in which to indulge her passion. With its immense windows framing the whole city skyline and offering endless natural light, her loft apartment in Dubai makes a spectacular exhibition space.
But while it’s filled with contemporary creations from around the globe – and especially from her beloved home country, Iran – what we see here is just the tip of the iceberg. In total, Mana has more than 400 works, which she shares in shows from Venice to Vancouver.
Art collector Mana Jalalian has opened the doors to her Dubai home
“My collection started modestly, but grew as my appreciation for art deepened. Each work represents a moment, a memory and a piece of the world’s heritage,” she says.
Born in Canada and brought up in Iran, Mana left at 19 to live first back in her country of birth and then Azerbaijan. She’s driven by a deep belief in the power of art to break down cultural barriers. Now settled in Dubai with her beloved Persian cat Mangool, she relishes the city’s vibrant international scene, where her professional talents as an interior designer are much in demand.
‘My collection started modestly, but grew as my appreciation for art deepened,’ she says
Mana’s own home environment reflects her dynamic, positive approach to life and the inner strength she has drawn on in her personal life to come through divorce and to conquer cancer. She’s determined to help others, too, through her many humanitarian projects, as she tells us here.
Mana, fill us in on your artistic background…
Mana’s home environment reflects her dynamic, positive approach to life
“Growing up in Iran, my interest was sparked by the magazines in my uncle’s architectural studio. I was fascinated by the possibilities within those pages. Later, every step of my education, from the lively art scene of Tehran to the structured and professional approach of Canada, was a springboard to cultivate a curiosity that transcends borders.”
Mana has more than 400 works, which she shares in shows from Venice to Vancouver
“Fifteen years ago. My travels not only allowed me to see different works of art, but also to understand the histories, cultures and emotions they contain.
“My collection started modestly, but grew as my appreciation for art deepened. Today, there are more than 400 pieces. Each carefully chosen work represents a moment, a memory and a piece of the world’s heritage.”
She’s driven by a belief in the power of art to break down cultural barriers
You are one of the foremost collectors of work by Iranian artists…
“Yes, I want to support them by showcasing their work on an international stage, to counter the post-revolutionary silence.
Her professional talents as an interior designer are much in demand
“It’s a testament to my love of bold, colourful, maximalist design, and features an eclectic collection of furniture from Baxter Italia and Moissonnier of France, which has been making original pieces since 1885. [Mana has established the House of Moissonnier showroom in Dubai as a flourishing branch of the French company.
Her eclectic collection of furniture hails from Baxter Italia and Moissonnier of France
“Yes, the centrepiece of the living room is a visually stunning ‘kitchen’ with a large marble counter. It’s designed for socialising so there are no appliances. Actual cooking is relegated to another kitchen at the back.”
Many of the artworks on display hold a special meaning
“Two precious paintings hang side by side. Mana is by Mohammad Ehsaei, my favourite artist. Executed in striking red calligraphy on a black canvas, it is more than art; it is a tribute, a symbol of our enduring friendship and of my deep passion for art, which occupies first place in both my home and my heart.”
The loft apartment makes a spectacular exhibition space
“Yoga and meditation have been an integral part of my life since I was very young. They’ve helped me face challenges, including divorce and a battle with cancer, with strength and a positive mindset.”
She has filled her home with contemporary creations from around the globe
You’re a very popular figure on the social scene here…
“My social life has deep roots in my work and personal interests. For example, organising events during Art Dubai [the Middle East’s leading international art fair, taking place every March] is a great occasion for sharing and celebrating a passion for art with people from all over.”
She’s determined to help others through her many humanitarian projects
“Yes. I’m a director of the Omid Foundation, where we support Persian-speaking women, not only within Iran, but also in countries such as Afghanistan, empowering them through education.
The property is made up of two flats, connected to create a spacious loft
“No, my journey hasn’t taken me down the path of motherhood, but I have found tons of companionship and joy with Mangool, my fluffy Persian cat. She’s more than just a pet, she’s a source of endless love, happiness and comfort. Her presence makes it a real home.”
Sign up to HELLO Daily! for the best royal, celebrity and lifestyle coverage
By entering your details, you are agreeing to HELLO! Magazine User Data Protection Policy. You can unsubscribe at any time. For more information, please click here.
Detroit homeowners are nearing the truth about whether their houses are still being overtaxed after the city council on Tuesday approved hiring an independent auditor to review property value assessments.
The contract, which was supposed to be passed five months ago, is required under an ordinance passed by the council in November 2023. The property tax ordinance is aimed at determining whether homeowners are being overtaxed.
Between 2010 and 2016, the city of Detroit overtaxed homeowners by at least $600 million. The Michigan Constitution prohibits property from being assessed at more than 50% of its market value. Between 2010 and 2016, the city assessed properties at as much as 85% of their market value.
While Mayor Mike Duggan’s administration says the property assessments have been fixed and are now fair, a recent study suggests the city is cheating lower-income residents by illegally and disproportionately overtaxing homes worth less than $35,000. The study, released in March by the University of Chicago’s Harris School of Public Policy, claimed the city overassessed the value of 72% of the homes worth less than $34,700. By contrast, a vast majority of the homes worth more than $35,000 were not overassed, according to the study.
Duggan’s administration vehemently rejected the study’s findings, saying the city’s assessments are accurate. In a statement to Metro Times in March, Detroit Assessor Alvin Horhn dismissed the claims in the study as “utter nonsense” and “politically driven,” saying that “any claim that homes today are systematically overassessed is just false.”
Bernadette Atuahene, a property law scholar who has studied Detroit’s property tax foreclosure crisis, says she and other activists with the Coalition for Property Tax Justice, are “overjoyed” by the council’s action Tuesday. She contends the independent analysis will substantiate the University of Chicago’s study and force the city to reform assessments.
“The key is that you cannot fix a problem until you admit you have one,” Atuahene tells Metro Times. “I hope with the independent evaluator, we all agree on what has been so painfully obvious, we still have a problem, the lower valued homes and Detroit are still being assessed in violation of the Michigan Constitution.”
More than a dozen Detroiters called on the council to approve the contract with IIAC on Tuesday and admonished the Duggan administration for failing to meet the February deadline to hire an independent evaluator.
“Passing this contract is long overdue,” Michael Thomas Hart told the council. “City council should pass this, not only because it’s required by law, but also because it’s the right thing to do.”
Duggan’s administration said it would have been nearly impossible to secure the contract in just three months, explaining that the standard procurement process typically takes about six months. The administration also said the city council requested multiple changes, prompting more delays.
Only time will tell whether Detroiters are still being cheated on their taxes.
“The University of Chicago already did the study but Alvin Horne keeps saying that it’s not legitimate,” Atuahene says. “Now that the city is doing the study itself with a trusted entity, the IAAO, he can no longer say the study is illegitimate.”
Imagine living in a futuristic home that doesn’t disturb the natural environment. When you build a home you have to clear land, cut down trees and replace the natural environment with pavement and other unnatural materials. A house built on land is basically an environmentally destructive process and Ocean Builders is setting out to change this dynamic with the GreenPod, SeaPod and EcoPod.
Avril Lavigne is proud of her punk rock attitude, so it came as a shock to learn that the singer, who is currently on her Greatest Hits tour, has a super-girly bedroom at home.
The 39-year-old shared an insight into her décor choices when she appeared on Alex Cooper’s Call Her Daddy podcast, revealing that she has a bedroom at home dedicated to Hello Kitty – a cute creature she also named a song after in 2013.
“I have a Hello Kitty room at my house,” she revealed. “It used to be my bedroom and it’s a Hello Kitty bedroom.”
Surprised by Avril’s admission, Alex asked: “Were guys freaked out?” to which Avril responded she’d been in a long-term relationship, so not many people were treated to a peek at the Hello Kitty décor.
The fluffy feline wasn’t the only surprizing detail in the room, though, with Avril continuing: “There was a stripper pole like this huge pink velvet couch full of all these stuffed animal Hello Kitties.”
Alex went on to ask Avril if she ever takes a turn on the stripper pole, with Avril responding: “Oh hell yeah! You just have a couple of [drinks] and wing it.”
Avril’s home isn’t the only place to receive the Hello Kitty treatment, with the Canadian singer sharing that her tour bus is covered in the cat too.
“I’ve got 20 Hello Kitty pillows in the front lounge and I’ve got Hello Kitty bedding, Hello Kitty towels and everything is just pink and fun,” she revealed of the bus, which she refers to as her home when she’s on the road.
While fans of the star might not have imagined her penchant for Hello Kitty, they’ll be pleased to know that Avril lives up to her rock and roll image when she’s on tour.
“We don’t go to bed until six AM because we’re wired,” Avril shared of her post-show rituals. “We set up a BBQ have fun, hang out with the bands and all that. After a show I sleep in hopefully till three or noon on the early side.”
Avril Lavigne has a rock and roll lifestyle on tour
Though she keeps unconventional hours, Avril does make sure to look after herself, after spending several years bedridden due to Lyme’s disease.
“I was bedridden for a couple years, but I got stronger coming out of that and that’s something that rocks you pretty hard. But I’m really grateful to be on the other end of that.”
Here’s hoping Avril manages to get some rest amid her grueling tour schedule!
Sign up to HELLO Daily! for the best royal, celebrity and lifestyle coverage
By entering your details, you are agreeing to HELLO! Magazine User Data Protection Policy. You can unsubscribe at any time. For more information, please click here.
LUXURY skyscrapers in southern Malaysia developed by the Chinese were on the way to become “a dream paradise for all mankind”.
But that promise was never delivered and the multi-billion estate sits empty on the coast of the sea, surrounded by only nature.
12
Forest City in southern Malaysia is just across the water from bustling SingaporeCredit: Reuters
12
The city built for 1million people only inhabits around 9,000 peopleCredit: AFP
12
Investors blew $100billion on the ambitious project but left it half-finishedCredit: AFP
12
The Forest City looks like a lavish resort and is only a stone’s throw away from bustling and noisy Singapore.
At a first glance, it appears to be a regular metropolis with hundreds of high-rise buildings, villas and paved roads.
But upon closer inspection, visitors might notice how eerily silent the “ghost city” is with the only sound coming from birds‘ chirping.
You can’t hear drivers frustratingly honking at traffic jams – in fact, you can’t see cars at all.
There are no neighbour noise complaints as only a few hundred people live in the numerous skyscrapers.
The only signs of life can be found on a handful of flats that lit up at night and have their laundry hung on the balconies.
Most of the opulent apartments and villas are left to rot in the estate built by Country Garden – China’s largest property developer – under Xi Jinping’s Belt and Road Initiative.
The ambitious project was being built in 2016 during China’s real-estate boom.
The developers blew a staggering $100billion on the property in a bid to attract middle-class buyers who live abroad.
The idea was to construct an eco-friendly city including a water park, golf course, offices, bars, and restaurants.
Massive abandoned airport 3 times the size of Monaco left with rusting jumbo jets to be bulldozed and turned into new city
The Chinese company planned for 1million people to live in Forest City, which would spread across thousands of acres of land.
The developers believed that investors would flock to the area next to Asia’s financial hub, Singapore, for great opportunities.
While a house in Singapore costs an eye-watering $4million on average, the typical condo in Forest City retails for a fraction of that and is just across the water.
Although 80 per cent of units have been sold, most of them stayed unoccupied after Malaysia’s then-prime minister Mahathir Mohamad restricted visas for Chinese buyers.
12
The city was supposed to boast waterpark, golf course, restaurantsCredit: Reuters
12
The model shows what the city would look like if completed
12
The Forest City Mall has a restaurant and a duty free but most shops are closedCredit: AFP
12
Only bottled are scattered around the beach without a soul in sight
12
A handful of units have their lights on at night when the city is immersed into darkness
After eight years, Forest City is now merely a deserted ghost town beside a river rife with crocodiles.
Only a few hundred people reside in the high-rise structures, and just 15% of the project has been completed.
On top of that, Chinese government introduced strict laws which barred its citizens from spending more than $50,000 abroad.
The selling prices of the residential units were also much beyond the means of the average Malaysian, despite the Chinese developers’ claims that it was designed with the middle class in mind.
In the complex, the typical condo currently retails for about $1.14 million.
The largest city next to the development, Johor Bahru, has an average sale price of $141,000 for a similar property.
This means that a large portion of the grand project is empty, with just 9,000 people dispersed around the metropolis built to inhabit 1million.
Residents are a rare sight in Forest City where the majority of people you encounter are staff from the premises.
The city’s mall has a working restaurant, a shop and a duty-free store with the rest of the shops closed due to slow business.
Inside the interiors of the unoccupied shops lay bare and construction materials are scattered around.
When the night falls, the city immerses into pitch darkness with no more than a dozen apartments having their lights on.
But cheap rent, around $800 a month for a brand-new unit, has duped some people into moving to the abandoned city.
The 30-year-old IT engineer, Nazmi Hanafiah, rented a one-bedroom flat overlooking the sea but soon regretted his decision.
He told BBC: “To be honest, it’s creepy. I had high expectations for this place, but it was such a bad experience.
“There is nothing to do here.
“It’s lonely around here – it’s just you and your thoughts.”
Joanne Kaur and her husband live on the 28th storey of one of the tower blocks – and are the only ones on the whole floor.
She told BBC: “This place is eerie. Even during the day, when you step out of your front door, the corridor is dark.
“I feel sorry for people who actually invested and bought a place here.
“We are looking to move out as soon as possible.”
According to the BBC, some analysts criticise the decision of building such a huge project in a country where the economy and politics are unstable.
Travel lockdowns during the Covid-19pandemic also hampered many overseas projects, including the Forest City.
But the Country Garden remains “optimistic” about the future of their brainchild despite struggling to repay its $190billion debt.
12
The Chinese developer is ‘optimistic’ that the project will be completed in 35 yearsCredit: AFP
12
Rare signs of life can be seen on balconies where residents hang their laundry
12
Most shops have never been finished with their interior still bare
There was recently a groundbreaking ceremony for 52 at Park, a 300-unit apartment complex for lower-income families and individuals in Orlando.
Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on the future site of 52 at Park during a ceremony with LAC leaders, local lawmakers and partners. 52 at Park will provide 300 affordable housing units to individuals and families in Orange County earning no more than 60% of the Area Median Income.
“Lincoln Avenue Communities is proud to grow our portfolio of affordable housing developments in Florida,” said Jordan Richter, LAC vice president and regional project partner. “Once completed, 52 at Park will provide hundreds of high-quality, affordable homes in one of the state’s fastest-growing metropolitan areas.”
The property will include eight residential buildings, with all units expected to be completed by the end of 2025.
“The City of Orlando remains committed to ensuring that everyone who wants to call Orlando home has access to quality housing that is safe and affordable,” said Orlando Mayor Buddy Dyer. “Through the power of partnership by working alongside Lincoln Avenue Communities, we look forward to welcoming the addition of 300 new affordable apartments and continue to leverage funding and offer incentives to make it easier for developers to build affordable housing in Orlando.”
52 at Park will offer amenities including a fitness center, pool, clubhouse, central laundry and a playground. The property will also include a sprawling solar installation that will offset 100% of the community’s electricity usage, making it one of the first affordable housing communities in Florida to provide full solar offsetting.
“LAC is committed to ensuring the long-term sustainability and resiliency of our developments,” said Cricket Cleary, LAC director of development. “52 at Park represents a major step toward a new generation of high-quality sustainable housing in Florida, and throughout the country.”
The project was financed through an issuance of tax-exempt bonds from the Orange County Housing Finance Authority; a Low-Income Housing Tax Credit equity investment from Freddie Mac, syndicated by Berkadia; a Construction Inflation Response Viability Funding loan from the Florida Housing Financing Corporation; construction and permanent loans from Deutsche Bank, serviced by Berkadia; and solar energy credit equity.
Detroit City Council is calling on Wayne County to halt owner-occupied house foreclosures this year.
Wayne County Treasurer Eric Sabree is defying demands to impose a moratorium on owner-occupied home foreclosures after a study suggested the city is illegally overtaxing houses worth less than $35,000.
In a statement to Metro Times on Thursday, Sabree said he will not pause foreclosures amid calls from the Detroit City Council and activists to do so.
“This year, the number of foreclosed properties is notably lower compared to previous years,” Sabree said. “This decline can be attributed to homeowners being given time to catch up over the past 4 years, alongside increased availability of assistance programs and community outreach in the Wayne County Treasurer’s Office.”
Last month, Detroit City Council unanimously passed a resolution calling on the treasurer to stop owner-occupied foreclosures on houses valued at less than $30,000 because illegally overassessed property values would likely force many lower-income residents out of their homes.
The study found that Detroit overassessed the value of 72% of the homes worth less than $34,700. A vast majority of the homes worth more than $35,000 were not overassessed, according to the study.
Activists for the Coalition for Property Tax Justice, a group that advocates for homeowners in Detroit, championed the call for a moratorium, saying the city “systematically overassessed” the lowest value homes.
Bernadette Atuahene, a property law scholar who has studied Detroit’s property tax foreclosure crisis, said Sabree’s failure to impose a moratorium will unfairly cost residents their homes.
“Treasurer Sabree is ignoring the demands of the City Council to cruelly foreclose on the homes of Detroiters who may be in foreclosure due to illegally inflated property taxes,” Atuahene told Metro Times in a statement. “The power of the County to take someone’s home is an enormous responsibility and should be wielded with extreme caution. However, Treasurer Sabree has chosen to recklessly foreclose on hundreds of homes valued under $34,700 — a decision that is morally, economically, and legally irresponsible.”
The Michigan Constitution prohibits property from being assessed at more than 50% of its market value. Between 2010 and 2016, the city assessed properties at as much as 85% of their market value.
In his statement, Sabree said his office supports removing some homes from the list of foreclosures, but not because of the study.
“Some homeowners who face extreme financial hardships may be offered an opportunity to apply for City of Detroit exemption and property tax assistance and may be considered for foreclosure removal — we are requesting this through the courts,” he said.
The city council also called on Mayor Mike Duggan’s administration to reduce property taxes for low-value homes because of the study’s findings. But the city’s assessor, Alvin Horhn, called the University of Chicago study “utter nonsense” and “politically driven.”
Metro Times couldn’t reach council President Mary Sheffield for comment.
Consumers expecting big savings from a National Association of Realtors’ class-action settlement over agent commissions may instead be in for a letdown.
The agreement drew cheers from President Joe Biden, who said it “could save homebuyers and home sellers as much as $10,000” in one example, and former Treasury Secretary Larry Summers, who said that breaking the “Realtor cartel” could save US households $100 billion over time. But the true benefits remain unclear, especially for first-time buyers who need help the most.
It comes at a precarious time for the housing market, with higher mortgage rates pushing sales last year to the lowest level in nearly three decades. It’s especially tough for first-time buyers looking to jump into one of the most unaffordable markets in history. In theory, the settlement could translate into lower home prices by pushing commissions down. But experts say that’s not a given, especially in the short run.
“No seller I’ve encountered will lower the price just because their transaction cost went down,” said Steve Murray, senior adviser to data provider and consultant Real Trends. “That will not happen.”
The NAR said in a statement responding to Biden’s remarks that commissions were already negotiable before the settlement agreement and will continue to be.
“Real estate agent commissions are driven by the market and are not the cause of the affordability crisis,” the NAR said.
How the changes ripple out and impact the market is a subject of heated debate, in part because nobody really knows.
The decades-old system for how US agents are compensated has long been controversial. Sellers typically pay a commission to their agent of 5% or 6%. The listing agent then splits the money with the buyer’s representative. Critics argue that the structure inflates costs and creates bad incentives.
In October, a Missouri jury handed down a $1.8 billion verdict that found the NAR and others liable of colluding to keep prices high. To settle that case and others, the NAR agreed earlier this month to pay sellers roughly $418 million and said it would change some of its rules. In the most important shift, the trade group would bar sellers from including compensation details on the multiple-listing service, which has long been the most important tool for marketing homes.
That change, to take effect this summer subject to a court’s approval, could encourage sellers to negotiate lower commissions. But the industry is rife with speculation that agents will find ways to discuss commission splits through other methods, for example, on brokerage websites.
“I expect commissions to get bid down to 4% to 5% over time with variation by home price and geography,” Moody’s Analytics Chief Economist Mark Zandi said. “It’s a significant change but will likely be gradual. I expect most of the gain to be captured by the seller, so the impact on home prices will be small.”
Possible Outcomes
The settlement was a hot topic at the American Real Estate Society’s annual gathering of academics in Orlando this week. Ken H. Johnson, a real estate professor at Florida Atlantic University and a former broker, was in attendance, gaming out the possible outcomes with colleagues.
Even the question of who is getting the benefit from lower commissions — buyer or seller — doesn’t have a simple answer, he said. In theory, the seller should pass on some savings to the buyer, but maybe not as much in a seller’s market.
And it may encourage more first-time homebuyers, who sometimes lack the cash to pay brokers upfront, to go it alone, according to Johnson. More buyers are likely to go directly to listing agents to avoid having to shell out for commission costs. But that might result in more agents with potential conflicts of interest, representing buyers and also the sellers who pay them.
“Now some buyers are going to have to pay out of pocket, or maybe buy less expensive homes,” Johnson said.
Another huge question looms over the industry. The Department of Justice has taken aim at commission sharing, arguing for a full decoupling of compensation for sellers’ and buyers’ representatives. It remains to be seen if the NAR settlement satisfies regulators.
New Rules
Agents are already adapting to the new rules under the proposed settlement. In New York, broker Keith Burkhardt is working on a new flat-rate service to provide help valuing properties, negotiating deals, and navigating the city’s co-op and condo boards. He figures pricing will be critical and estimates charging buyers between $5,000 and $7,500.
Meanwhile, buyers’ agents will also have to work harder to explain how they’ll add value to any deal, according to Iain Phillips, a real estate agent in California.
The settlement is a start, said Larry Summers, a paid contributor to Bloomberg Television, on Wall Street Week with David Westin. But most observers don’t expect huge changes to happen overnight.
“Right now, everyone is turning this ruling into what they want it to be,” said Mike DelPrete, who teaches courses on real estate technology at the University of Colorado Boulder. “Some people are saying not much is going to change. Others want the story to be that it’s a seismic shift for the industry. The whole thing is being driven by fear and uncertainty.”
— With assistance from Jennifer Epstein, Paulina Cachero, and Chris Anstey
Subscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up for free.