One of the coolest things to come down the pike in a while is the Google Tool Bar. With it you can search Google without even going to the site. You can even limit your search to just the site that you're currently on. But the best part is that it blocks most of those infernal Popup Ads that make browsing the Internet a less than satisfying experience. Please give a look at the Goo, Goo, Googley Toolbar
C.A.R. has compiled resources and other useful information for Californians affected by the Southern California wildfires in the REALTORS® Care area of the About C.A.R. section of C.A.R. Online The section contains current information about the fires, what to do after the fire, information on insurance-related issues and fire-preparedness information.
C.A.R. also is exploring ways the Association, local REALTOR® associations, and members can contribute to the relief efforts. Please check C.A.R. Online in the coming days for more detailed information.
The Chumash Casino got one step closer to getting it’s Liquor License yesterday. The state department of Alcoholic Beverage Control has recommended conditional approval of their permit.
The ABC announced Tuesday that a hearing for protests will be held Dec. 10 and 11 before an administrative law judge at the Marriott Hotel in Buellton. The judge will hear the protests and then approve or deny the ABC’s recommendation, possibly adding or changing conditions attached to it.
The U.S. leading index decreased 0.2 percent, the coincident index increased 0.1 percent and the lagging index decreased 0.5 percent in September, the Conference Board reported last week. The leading index now stands at 113.0 (1996=100); it had increased for four consecutive months before September's decline and is still up by 2.3 percent from its recent low in March, according to the report.
While it is not likely that September's small decline indicates that the recent upward trend in the leading index has ended, a continuation of stronger economic growth would be called into doubt if the leading index does not turn upward again, according to the report.
Four of the 10 indicators that make up the leading index increased in September: average weekly manufacturing hours, stock prices, manufacturers' new orders for consumer goods and materials, and manufacturers' new orders for nondefense capital goods. The negative contributors were real money supply, interest rate spread, vendor performance, index of consumer expectations, building permits, and average weekly initial claims for unemployment insurance.
The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, increased by 0.5 percent to 652.8 on a seasonally adjusted basis for the week ending Oct. 17 compared to 649.6 one week earlier, according to the most recent Mortgage Bankers Association (MBA) report released today. On an unadjusted basis, the Index decreased by 9.7 percent for the week ending Oct. 17 compared to the previous week and was down 42.7 percent compared with the same week one year earlier.
The refinance share of mortgage activity decreased to 50.5 percent of total applications for the week ending Oct. 17 compared to 53.9 percent the previous week. The adjustable-rate mortgage (ARM ) share of activity increased to 26.2 percent for the week ending Oct. 17 from 25.2 percent the previous week.
Builders began work on new homes and apartments at a seasonally adjusted annual rate of 1.89 million units in September, a 3.4 percent increase from August, according to a recent U.S. Dept. of Commerce report. "We've now had four consecutive months of housing production above the 1.8 million-unit pace," said Kent Conine, president of the National Association of Home Builders (NAHB). "Undoubtedly, last month's fallback in long-term mortgage rates was a contributing factor, as well as strong household formations and the accelerating economy."
Single-family starts rose 3.1 percent in September to a seasonally adjusted annual rate of 1.52 million units, according to the report. Multifamily starts rose 4.5 percent to a 368,000-unit rate, their highest since August of 2002 when they hit a 381,000-unit rate. Overall housing starts rose strongly in all regions except the South in September, which posted a 1.3 percent decline. Building permits for new homes and apartments permits fell 2.2 percent to a seasonally adjusted annual rate of 1.86 million units, according to the report.
Today's Casa Article is all about all the different sources you have for getting Tech Support for your computer and software. There's actually an amazing array of opportunities out there than you can avail yourself of. Please give a look at Tech Support is Everywhere
Mortgage Bankers Association this week released its long-term forecast for the U.S. economy and the housing-finance market for 2004 and 2005, predicting strong economic growth, with purchase mortgage originations continuing at a near-record pace while refinancings subside.
"The health of the real estate finance market is directly dependent on jobs creation, and we anticipate significant jobs growth through 2004 and into 2005," said Douglas Duncan, MBA senior vice president and chief economist. "Rapid economic growth and higher incomes associated with productivity growth will generate job creation and bring employment levels up to 133 million by 2005. The civilian unemployment rate will gradually decline from the 6.2 percent peak in the second quarter to a healthy 5.6 percent by the end of 2005."
Mortgage rates will gradually increase from 5.9 percent in the third quarter of 2003, reaching only 7 percent in 2005, with single-family home production and purchases remaining robust, according to the report. The multifamily residential and commercial sector should pick up in the second half of next year and retain its strength through 2005, the report said.
The MBA projected that single-family mortgage originations in 2003 will break records in the purchase and refinance markets. Refinancings will total $2.2 trillion in 2003 and will represent 66 percent of originations. In contrast, refinancings only will account for 21 percent of total originations by 2005. Purchase originations will essentially remain flat at $1.1 trillion from 2003 to 2004, but increase to $1.2 trillion in 2005, the report said.
The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, decreased by 20.5 percent to 649.6 percent on a seasonally adjusted basis for the week ending Oct. 10 from 817.3 one week earlier, according to a report released today by the Mortgage Bankers Association of America (MBA). On an unadjusted basis, the Index decreased by 20.5 percent for the week ending Oct. 10 compared with the previous week and was down 50.1 percent for the week ending Oct. 10 compared with the same week one year earlier.
"Applications have fallen to levels at or below what we saw two weeks ago after increasing last week," said Jay Brinkmann, MBA's vice president of research and economics. "Though long-term interest rates were mostly stable this week, the rates remain slightly higher than the lows recorded in late September,"
The refinance share of mortgage activity decreased to 53.9 percent of total applications for the week ending Oct. 10 compared to 55.0 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 25.2 percent for the week ending Oct. 10 from 22.7 percent the previous week.
The Goleta City Council members indicated on Monday that they are set to adopt another moratorium on new construction. The Council directed the city planners to start preparing the fifth version of the building ban that began in early 2002 soon after Goleta incorporated.
The city is inundated with 100 building applications already and staff planners say they cannot even keep up with the 90 proposals currently exempt from the building ban.
The city has authorized eight planner positions and filled all but one, but apparently needs even more help to relieve the backlog. Originally set to expire in 45 days the ban has been relaxed and extended, most recently for a year in February but this latest development will extend past that February period.
The Conference Board's Measure of Business Confidence jumped to 67 in the third quarter from 60 in the second quarter of 2003, according to a recent report. The quarterly survey covers approximately 100 CEOs in a wide variety of industries; a reading of more than 50 points reflects more positive than negative responses
"The continued rise in CEO confidence is strong evidence of a turnaround in corporate performance," said Lynn Franco, director of the Conference Board's Consumer Research Center. "This is also indicated by an improvement in capital spending plans."
Chief executives' assessment of current economic conditions has become considerably more favorable, with the measure rising to 64, up from 55 in the second quarter, according to the report. The increase was caused by a sharp rise in the percentage of CEOs stating that current economic conditions have improved: 60 percent in the third quarter versus 35 percent in the previous quarter. Close to 36 percent of survey participants say conditions have improved in the third quarter, up from nearly 33 percent in the second quarter.
The Metropolitan Transit District took a lot of heat at Thursday’s meeting of the Santa Barbara County Association of Governments. The criticism centered on the MTD’s decision to purchase 11 diesel buses and 12 electric busses instead of the 25 electric buses it earlier had promised.
The Federal Transporation Agency is still reviewing the matter, but in the meantime, the MTD board voted to scrap the proposals and start all over because the MTD had expected the buses to cost about $450,000 each, but the only bidder was $580,000 per bus.
The Santa Barbara County Association of Governments voted 12-1 to prepare a $1.8 million plan for widening 101 Highway. The result would be a new lane in each direction. Among the possibilities is re-striping the existing four lanes.
The Association also voted to approve $1.5 million to expand the Coastal Express bus service between Ventura and Goleta.
For an in depth look at the possibilities for widening the freeway please click on Planned Highway Construction
Today's Casa Article is all about that amazing amount of unwated Email that continually comes through our door. Combine that with the recent attacks from Blaster and SoBig.f and I've been looking at some ways to cut down on all this traffic. The latest piece of software I found is called Ella ($29.95) and is distributed by Open Field Software. Ella is more than a mere spam blocker it attempts to organize all your email and seems to do a pretty good job.
Please give a look at Throwing Out The Trash
The percentage of households in California able to afford a median-priced home stood at 23 in August, a 5-point decrease compared to the same period a year ago when the C.A.R. Housing Affordability Index (HAI) was at 28 percent, according to a recent C.A.R. report. The August Index declined by 3 percentage points from July when it stood at 26 points.
The minimum household income needed to purchase a median-priced home at $404,870 in California in August was $93,490, based on a typical 30-year, fixed-rate mortgage at 5.66 percent and assuming a 20 percent downpayment. The minimum household income needed to purchase a median-priced home was up from $82,150 in August 2002, when the median price of a home was $334,270 and the prevailing interest rate was 6.38 percent. The minimum household income needed to purchase a median-priced home at $177,500 in the U.S. in August was $40,990.
At 60 percent, the High Desert was the most affordable region in the state, followed by Sacramento at 39 percent. The Santa Barbara Region was the least affordable region in the state at 14 percent, followed by the Northern Wine Country Region at 15 percent
The U.S. House of Representatives last week passed legislation that would provide $400 million in grants over the next two years to help 80,000 low-income families pay downpayment and closing costs on their first homes. The American Dream Downpayment Act, H.R. 1276, was introduced earlier this year by U.S. Rep. Katherine Harris (R-Fla.). U.S. Sen. Wayne Allard (R-Colo.) has introduced companion legislation, S. 811, in the Senate.
NAR commended President George W. Bush and U.S. Housing and Urban Development (HUD) Secretary Mel Martinez for first proposing the idea for the legislation as part of the administration's commitment to help low-income and minority families achieve the American dream of the homeownership.
The bill would provide an average of $5,000 in downpayment and closing cost assistance to help first-time homebuyers with annual incomes that do not exceed 80 percent of the area median income. Grants would be made to state and local governments through HUD's HOME Investment Partnership program.
One of the great treasures of Santa Barbara is the Coral Casino. It’s located right across the street from Four Season Biltmore. It’s a private club, but the guests at the Biltmore are allowed to use some of the facilities.
The grand lady is in need of a facelift. After all it’s a wooden structure and sitting right on the ocean for 65 years isn’t the best thing in the world for wood. A couple of years ago an air conditioner fell through the roof, and most recently the tower started to lean precariously.
Anyway as with most things in Santa Barbara it requires a lot of talk before anything gets done. If you’d like to get the gist of the arguments please click here for The Coral Casino Renovation.
One of our favorite topics of conversation in Santa Barbara is traffic. For most of my life I’ve listened to discussions about how to route traffic. For years it was the discussion about what to do with the traffic lights on the freeway. We were one of the last places on Highway 101 from San Diego to San Francisco that you had to stop for a light.
Well finally in the 90’s we were able to put that one to rest by putting underpasses under the freeway. Now the discussion is about widening 101 from Milpas St to Carpinteria. I expect this discussion to be going on long after I’m gone, but here’s the latest take on Widening Highway 101
Well It’s done. Our upstairs bathroom remodel has come to an end. I’d like to thank all the people that worked on it for us. Fred from Flores and Sons who ran the job. Jerry from Jorgenson’s who did the cabints. Ken Chalfant our Electrician. Vartan from Marblism who did the tile and granite. Miguel Conejo who refinished our cabinets. Dwight Eccleston who did our painting. And the Drywall and Carpenter guys who I forgot to get pictures of.
Here’s the Virtual Tour of our Upstairs Bathroom Remodel
It’s Festa Italiana weekend in Santa Barbara. This year the festival has moved from Oak Park to the Earl Warren Showgrounds. The festival is still free both entrance and parking, and I know it’s going to be a lot of fun. We’re going to try and get over there today or tomorrow so hopefully we’ll ya’ll there.
This week’s Casa Article is about the weirdest thing that every happened to me with computers. Gradually I was unable to access certain websites. First it was Overture, then another, and then another. Finally I couldn’t even search Yahoo and I knew the time had come to do something drastic. After some time with Microsoft Tech support they figured out what was going on. Please give a look at I Can’t Search Yahoo!!!!
The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, increased by 15.6 percent to 817.3 on a seasonally adjusted basis for the week ending Oct. 3 from 707.2 one week earlier, according to a Mortgage Bankers Association of America (MBA) report released today. On an unadjusted basis, the Index increased by 15.7 percent for the week ending Oct. 3 compared with last week and was down 38.5 percent compared with the same week one year earlier.
"Long-term interest rates fell during September and last week hit their lowest levels since mid-July. Borrowers obviously responded to mortgage rates that dropped below 6 percent with a 20 percent increase in refinance applications," said MBA Vice President of Research and Economics Jay Brinkmann.
The refinance share of mortgage activity increased to 55.0 percent of total applications for the week ending Oct. 3 compared to 53.1 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 22.7 percent for the week ending Oct. 3 from 23.4 percent the previous week.
The median price of a single-family home in California will reach a new record again next year, while sales will decline from this year's record setting pace, according to C.A.R.'s "2004 Housing Market Forecast" released last Thursday at the California REALTOR® EXPO 2003 in San Diego. The median home price in California will increase 13.0 percent to $414,100 in 2004 compared to $366,450 this year, while sales for 2004 are projected to reach 548,500 units, falling 4.5 percent compared to 2003. The double-digit gain in the median price of a home, which California has experienced for the past three years, will again be fueled by the continuing shortage of housing across much of the state, according to C.A.R. economists. California typically gains nearly 250,000 new households, yet only will build about 190,000 new housing units this year, creating a shortfall of about 60,000 units.
"While mortgage interest rates will remain near their historic lows next year, it won't be enough to mitigate affordability concerns in most regions of the state," said C.A.R. President Toby Bradley. "Housing affordability in California will continue to be negatively impacted by rising home prices in 2004 and relatively slow growth in household income. We expect C.A.R.'s Housing Affordability Index to fall 8 points next year to 19. At that level, less than one in five households will be able to purchase a median priced home in California. That's a cause for concern as we move forward."
Home sales for California in 2003 are expected to reach a record 574,300 units, surpassing the prior sales record of 572,550 set in 2002, according to C.A.R. economists.
Right in the middle of town there are two square blocks set aside for a park. It’s called Alameda Park and I used to play there as a child. I still play there as an adult only now they have a very cool fort just for the little kids. So many events during the year take place at Alameda Park like concerts at the Gazebo, the Fiesta Pancake Breakfast and the festivities that surround Summer Solstice. It’s a great place to wander through or catch a nap in the middle of a hectic day. Please give a look at Alameda Park.
One of the great joys of living in Santa Barbara is walking. It’s one of the great walking towns of the world. Whether it’s a stroll along the beach, cruising up Coast Village Rd. or hiking to the top of La Cumbre Peak this is a great place to walk.
One of my favorite walks is to start about Victoria St and walk all the way down State St to Stearn’s Wharf. Then if I have time I’ll walk all the way out on the end of the Wharf. Usually I walk back up State St, but if it’s too much you can always catch the electric shuttle bus that goes up and down State St and along Cabrillo Blvd for a quarter.
Please take a walk down State St with me.
It’s Avocado Festival weekend in Carpinteria. The event is located in downtown Carpinteria on Linden Avenue with free parking at Carpinteria High School and a shuttle service available. This event has become the South Coast’s largest free festival with three entertainment stages featuring over 40 acts and also 70 arts and crafts vendors plus more than 30 fun food booths and commercial vendors.
Today's Casa Article has to do with a very cool program called ePocratesRX that allows you to have a constantly updated list of perscription drugs on your handheld computer. The program has been very popular with hospital workers because they can instantly check to see if a combination of drugs given to a patient could have a disastorous effect.
Please give a look at What Drugs Are You Taking?
Located up in Mission Canyon is one of the great treasures of Santa Barbara. The Botanic Gardens is an amazing collection of micro-climates displaying everything from plants found in the desert to huge redwood trees. I always find something interesting and new everytime I go there. Please give a look at the Santa Barbara Botanic Gardens.