After 52 years of residing by the sea at Santa Claus California, Santa decided to move a little south. The owners of Santa Claus decided that the 22-foot-tall statue that beckoned motorists on Highway 101 to drop in was no longer appropriate for their planned conversion to a seaside-whaling village. So after much consternation a home was found in Oxnard in a field next to the freeway.
About 300 people, including some from the South Coast, attended the noon party along a freeway frontage road, where the plaster and chicken wire structure has resided since Jan. 29. The statue got a new finish; a new coat of paint, and soon his surroundings will blossom with life including a redwood forest.
As one resident said, “it’s kind of nice to see a smiling face and him waving at you when you go down the freeway.”
After almost two years as a City, Goleta still has many hurdles before it completes its’ general plan which is state-mandated and sets up the big picture blueprint for traffic, safety, noise and land-use rules. The plan is basically all the details that embody self-rule.
So far the City Council has been reluctant to approve development proposals without the general plan therefore making approval of the plan the five-member panel’s most pressing job.
Council members have signaled that their moratorium on commercial construction, initiated in early 2002, may be extended in some form for a fifth time before the end of the year.
Revitalization of the Old Town section of Goleta, a concept that predates the city appears stalled as a Santa Barbara architect-developer awaits the fate of his Hollister Avenue hotel-condo proposal.
Resident Tom Miller says that the building ban and other signals from the city threaten to alienate nervous developer-investors and damage Goleta’s reputation in the business community.
One of the interesting features of Windows XP is the ability to make a screensaver out of your favorite photographs. So instead of staring at those winged toasters and constantly changing geometric figures now you can look at your dog, your kids, or whatever you like. Please give a look at Who's Looking Back At You???
The Conference Board's Consumer Confidence Index now stands at 91.7 (1985=100), up 10 points from 81.7 in October, according to a recent report. The Present Situation Index increased to 80.1 from 67.0 and Expectations Index rose to 99.4 from 91.5. "Consumer confidence is now at its highest level since the fall of 2002," said Lynn Franco, director of the Conference Board's Consumer Research Center. "The improvement in the Present Situation Index, especially in the jobs component, suggests that consumers believe a slow but sure labor market turnaround is underway. The rise in expectations is a signal that consumers will end this year much more upbeat than when the year began."
Consumers' assessment of current business conditions improved in November, with those saying jobs are "hard to get" declining to 29.5 percent from 33.7 percent. Consumers' appraisal of current business conditions also improved, with those rating conditions as "good" increasing to 19.9 percent from 17.1 percent.
Consumers' short-term outlook continues to improve. Those anticipating business conditions to pick up over the next six months rose to 24.1 percent from 23.5 percent. Consumers expecting the opposite to happen declined to 7.1 percent from 11.0 percent.
The employment outlook was mixed, according to the report, with the percentage of consumers anticipating more jobs to become available in the next six months declining to 18.2 percent from 19.6 percent while those expecting fewer jobs to become available decreased to 17.6 percent from 20.4 percent.
The substantial influx of immigrants to the U.S. during the next 10 years will be a major support for housing demand in both the rental and for-sale markets, according to National Association of Home Builders (NAHB) Economist Michael Carliner.
"Immigrants typically provide an initial stimulus to rental markets for their first few years in the U.S. After becoming established in the U.S, they become a major factor in the for-sale marketplace," Carliner said at the National Association of Home Builders (NAHB) recent Construction Forecast Conference. "Since the 2000 Census, it appears that immigration has accelerated, with a net of about 1.5 million new immigrants coming to this country annually since the beginning of this decade."
NAHB forecasts of populations and household formations project a net flow up to 1.7 million foreign-born people coming to this country every year between 2002 and 2012, with labor demands created by the retirement of baby boomers likely to provide economic and political influences supporting immigration. Because of the demographic changes projected for the next decade, the long-term outlook for single-family home construction is expected to be more favorable than during the past decade.
NAR forecasts a record of 5.99 million existing-home sales this year, up 7.7 percent from last year's record of 5.57 million sales, according to a recent report. New-home sales for 2003 are expected to grow by 7.9 percent to a record of 1.05 million units. Housing starts are seen to rise 4.6 percent to a total of 1.78 million units this year, the highest level since 1986. The national median existing-home price is forecast to rise 8.8 percent this year to $172,100, while the median new-home price should increase 3.7 percent to $194,600. Home price appreciation is expected to slow in 2004 to a rate closer to historic norms, with the median existing-home price increasing 4.3 percent and the typical new-home price rising by 5.5 percent.
That’s what Jim Diani one of the leaders of the move to separate Santa Barbara County into two said. Some of the differences include Median Home Prices. In the south it’s 3 times greater than in the north. Then there’s sales tax revenues 80% of which is generated in the south as opposed to the north with the annual salary in the south at $38,810 to $32,628 in the north.
Politically the south voted 52 to 48 percent against the recall of Governor Gray Davis, while the north voted 70 to 30 percent for the recall. About the only thing similar is the population with 201,685 resident in the south and 197,662 in the north. In 15 years the population is projected to be 232,000 in the north as opposed to 208,000 in the south.
Carpinteria City Councilman Gregory Gandrud is looking for a new job. Gandrud served as Arnold Schwarzenegger’s co-chair for his campaign in Santa Barbara County. The Councilman has applied for five gubernatorial appointments related to transportation and the environment.
One of the posts the Councilman would like is on the Coastal Commission. Even if he gets the post Mr. Gandrud said he isn’t planning on leaving his City Council seat. He was invited to the Governor’s inaugural event earlier this month and said he had dinner twice with a good friend, Todd Burnett, whom the governor recently name as deputy appointment secretary for resources.
While consumers believe the investment climate is improving, only 25 percent say they will invest in stocks over the next six months, according to a recent Conference Board survey. Less than 46 percent describe the current investment climate as "bad," down from a year-ago reading of more than 62 percent. Despite improved confidence in the investment climate, consumers continue to remain cautious when it comes to putting their money in the stock market, according to the report. CDs and money market funds ranked only slightly more favorably than stocks, with about 26 percent of consumers indicting they would buy them over the next six months. Fifteen percent said they plan to buy bonds.
"While consumers' confidence in financial markets has been on the mend, the latest round of scandals in key investment sectors could severely undo the progress made over the past year," said Lynn Franco, director of The Conference Board's Consumer Research Center.
On a forward-looking basis, 44 percent said current conditions were "normal," according to the report. Approximately 65 percent of consumers expect no change in the investment climate over the next six months, up from nearly 59 percent a year ago. Less than 12 percent of consumers expect investment conditions to worsen in the short term, up slightly from September 2002.
Today's Casa Article is about a very cool little device that helps you find places that you can hookup to the net wirelessly. It's a hot spot finder and if you love cruising around like I do and still want to be connected to the Internet you need one of the gizmos.
Please give a look at How Hot is Hot???
The Market Composite Index, a measure of mortgage loan applications for purchases and refinancings, increased by 5.9 percent to 663.2 on a seasonally adjusted basis for the week ending Nov. 14 compared to 626 one week earlier, according to a Mortgage Bankers Association (MBA) report released today. On an unadjusted basis, the Index decreased by 6.6 percent for the week ending Nov. 14 compared with the previous week and was down 51.9 percent compared with the same week one year earlier.
The refinance share of mortgage activity decreased to 48.1 percent of total applications for the week ending Nov. 14, compared to 50.9 percent the previous week, according to the report. The adjustable-rate mortgage (ARM) share of activity increased to its highest level in more than 3.5 years to 27.5 percent for the week ending Nov. 14 from 26.6 percent the previous week.
C.A.R. members impacted by the Southern California wildfires may apply for assistance from the C.A.R. Disaster Relief Fund by accessing the application online via the link below. Applicants must provide the documentation required; otherwise, the application will not be processed as quickly.
The C.A.R. Disaster Relief Fund will distribute grants of between $1,000 and $5,000 to REALTORS® and local association staff who have lost their homes or livelihoods as a result of the fires.
The office, warehouse, retail and multifamily real estate markets can expect overall improvement through 2005, according to a recent NAR report. "The commercial real estate market can generally expect absorption of space to rise and vacancy rates to decline over the next two years," said NAR Chief Economist David Lereah. "The improving economy means there will be more job creation and a greater need for space, while a growing population will support multifamily housing."
Multifamily housing is forecast to experience a net absorption of 164,300 units next year, up from 122 million anticipated in 2003. The average vacancy rate is expected to drop to 6.6 percent in 2004 from 7.1 percent this year, with average rent expected to rise 2.1 percent in 2004 and 3.0 percent in 2005 after declining 0.8 percent this year.
The Cottage Health System plan to knock down St. Francis Medical Center and build up to 141 homes has outraged some of the local neighbors. The neighbor’s concerns center around the issues of compatibility with the surrounding neighborhood, traffic congestion and affordable housing.
Initially Cottage Health systems said that the homes would be for middle-income employees of the system who couldn’t afford to buy a house in Santa Barbara. But now the hospital officials are talking about building houses that today would sell for upward of $800,000.
A concept review in front of the Planning Commission is scheduled for Dec. 18. The stated goal of Cottage Health Systems is to “maximize the number of Cottage work force units to help us with our recruitment and retention of health care workers” Mr. Biscaro a spokesperson for Cottage said.
Three local firms are providing transportation compensation for their employees. The Chumash Casino and Resort, Raytheon and Cottage Hospital all provide some sort of compensation.
The Chumash Casino is the most generous employer and provides free bus service to Santa Maria, Lompoc and the South Coast. The bus rides are mandatory for about 850 casino employees who otherwise would be taking up parking spaces for guests. That’s 77 percent of the casino’s work force of 1,100 who are not driving to work.
At Raytheon employees who use van pools or buses receive between $25 and $50 per month in subsidies depending on the distance they travel. Raytheon will also pay for up to two empty seats in a vanpool until they can be filled.
At Cottage Hospital, everyone who does not drive alone to work receives a benefit, said Ron Lafrican, the benefits manager. Only 15 percent of the hospitals staff of 2,500 live outside of Santa Barbara. Also, every month the hospital sells 150 MTD bus passes at half-price.
Cottage employees using the Clear Air Express get a 50 percent subsidy, or $58 per month. For vanpoolers, the hospital pays the cost of the lease for the first three months and 50 percent from then on. Three vanpools to Ventura and Lompoc now serve Cottage employees.
A group calling itself the Citizens for County Organization has submitted more than 36,000-signature on a petition requesting that a commission study forming Mission County north of the Santa Ynez Mountains.
Mr. Diani, a spokesperson for the group promote their plan as a way to have “more effective and efficient local government, keep control over costs and budgeting, protect private property rights and encourage business expansion and development.”
Wednesday’s development marks the first time since 1978 that a county split has moved this far in the process. At that time, the idea of creating Los Padres County with virtually the same boundary as Mission County went to a vote but was soundly defeated.
In order to get a countywide election, there must be 20,779 valid signatures which is probable given the almost 10,000 excess name gathered. Eighty peopled have asked for their names to be removed from the petitions for various reasons, said Joe Holland, county clerk-recorder
Today’s Casa Article is all about getting all those business cards you pick up at various gatherings and conventions into your database so you can actually get some use out of them. I found this very cool little card scanner the other day and thought you’d like to know about it. Please give a look at Managing Your Contacts
The percentage of households in California able to afford a median-priced home stood at 25 percent in September, a 4 percentage-point decrease compared to the same period a year ago when the Index was at 29 percent, according to recent C.A.R. report. The September Housing Affordability Index (HAI) increased by 1 percentage point from August when it stood at a revised 24 points.
The minimum household income needed to purchase a median-priced home at $380,040 in California in September was $89,930, based on a typical 30-year, fixed-rate mortgage at 5.94 percent and assuming a 20 percent downpayment. The minimum household income needed to purchase a median-priced home was up from $78,630 in September 2002, when the median price of a home was $322,450 and the prevailing interest rate was 6.29 percent. At 57 percent, the High Desert Region was the most affordable region in the state, followed by the Sacramento Region at 38 percent. The Santa Barbara and Northern Wine Country Regions were the least affordable regions in the state at 15 percent.
On Tuesday night the city council of Santa Barbara boldly told the Coastal Commission that they weren’t interested in the Commission’s suggestions for the “Funk Zone.” On a 4-3 vote the council withdrew an application that was years in the making that would have banned hotels from being built in the area between Highway 101 and the waterfront and would have encouraged more ocean-oriented businesses.
The council objected to rules on residential development that the Coastal Commission demanded as part of granting the city’s zoning change for the area. The “Funk Zone” is know for its’ eclectic mix of surfboard shapers, cabinetmakers and other skilled craft workers. City planners have long balked at what they see as the state panel micromanaging local government.
The Conference Board's Help-Wanted Advertising Index, a key barometer of the U.S. job market, was 37 in September, unchanged from August. The Index stood at 43 in September 2002. In the last three months, help-wanted advertising declined in eight of the nine U.S. regions, with the steepest declines occurring in the Mountain (-14.6%), West North Central (-12.1%), South Atlantic (-9.4%) and New England (-7.9%) regions.
"The labor market is no longer declining, with want-ad volume at the same level since June and initial unemployment claims inching down," said Conference Board Economist Ken Goldstein. "While employment gains have been scant, the number of layoffs has slowed. An advancing economy and a sustained increase in the demand for goods and services will generate more demand for labor. If the economy stays on its current growth path, a better job market should start to develop over the next six months."
The Market Composite Index of mortgage loan applications, a measure of mortgage loan applications for purchases and refinancings, increased by 5.5 percent to 685.2 on a seasonally adjusted basis for the week ending Oct. 31 from 649.6 one week earlier, according to the most recent report by the Mortgage Bankers Association of America (MBA). On an unadjusted basis, the Index increased by 4.7 percent for the week ending Oct. 31 compared to the previous week and was down 34.3 percent for the week ending Oct. 31 compared with the same week one year earlier.
The refinance share of mortgage activity decreased to 51.1 percent of total applications for the week ending Oct. 31 compared to 53.3 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 25.4 percent for the week ending Oct. 31 from 26.5 percent the previous week, according to the report
A plan to collar dogs at the popular Douglas Family Preserve cleared a significant hurdle Thursday night when the City Planning Commission approved an environmental impact report for the 70-acre park overlooking the ocean on Santa Barbara’s Mesa.
One proposal would fence dogs in, while another would restrict the number of days they could run off-leash there. The vote is the latest development in the debate over whether to change the rules at the only city park in Santa Barbara where dogs are allowed to run free. The city is trying to strike a balance between dog owners and those without dogs.
The California Coastal Commission rejected a plan years in the making that aimed at establishing rules for how thousands of acres of semi-rural land between Carpinteria and Summerland will be used over the next two decades.
The 12 member commission, meeting in Los Angeles, voted 10-2 against the Toro Canyon Plan, which was approved by Santa Barbara County supervisors in February 2002.
Mr. Nava, one of the commissioners believed that the environmentally sensitive habitat areas and environmental protections needed to be strengthened in order for it to meet the Coastal Act requirements.
It used to be that all over America you'd see somebody under a shade tree working on their car. As cars became more dependent computers it became much tougher to diagnose the problem and you ended up having to take your car to a garage with expensive diagnostic equipment.
Well as it happens there's a program that runs on your PDA called Auto Tap that will allow you to tap into your car's computer. So now you can get back to working on your car under the old shade tree. Please read The Shade Tree Mechanic Is Back
The Consumer Confidence Index advanced in October and now stands at 81.1 (1985=100) compared to 77.0 in September, according to a Conference Board report released last week. The Expectations Index rose to 90.7 from 88.5 in September and the Present Situation Index increased to 66.8 in October from 59.7 the previous month. "After declining for five consecutive months, the Present Situation Index reversed course in October," said Lynn Franco, director of the Conference Board's Consumer Research Center. "A more favorable job market was a major factor in the turnaround. And, the belief that this trend will continue has boosted expectations. With the holiday season around the corner, this improvement in consumers' spirits is a good omen for upcoming retail sales."
Consumers' appraisal of present-day conditions ended a five-month decline in October, with those reporting jobs as "hard to get" declining to 33.8 percent from 35.1 percent. Those claiming jobs are "plentiful" rose to 11.8 percent in October from 9.9 percent. Consumers' assessment of current business conditions also improved, with families rating conditions as "good" increasing to 17.2 percent, up from 16.2 percent. Those claiming conditions were "bad" fell to 28.4 percent from 29.5 percent. Consumers' short-term outlook and the employment outlook also improved in October, according to the report.
On Tuesday Nov 4th the voters did not approve a parcel tax for the Hope School District. The tax would have cost each landowner $58 a year. Measure Q as the initiative was know had approval from 60.7 percent of the voters but failed to get the 66.7 percent required for passage.
The proposition would have levied a yearly tax on each of about 5,000 parcels in the district, raising an estimated $300,000 a year to offset most of the state’s budgets cuts on Hope’s three elementary schools.
The owners of the Dos Pueblos Golf Links property, which is just past the Bacara Resort, are negotiating the potential sale of 200 acres of the Gaviota coast for a public park. The golf course proposal was unanimously rejected by the state Coastal Commission in March, on the grounds that it would harm sensitive wildlife species including monarch butterflies, white-tailed kites, California red-legged frogs and tidewater gobies.
The owner, Makar Properties Inc. of Newport Bach, then sued the commission seeking $35 million in damages. Last week a court-ordered mediation got under way.
The Federal Reserve yesterday kept its target for the federal funds rate unchanged at 1 percent. The Fed "continues to believe that an accommodative stance of monetary policy, coupled with robust underlying growth in productivity, is providing important ongoing support to economic activity." The Fed said spending is firming and the labor market appears to be stabilizing, while business pricing power and increases in core consumer prices remain muted.
The risk of inflation becoming undesirably low remains the predominant concern for the foreseeable future, the Fed said. "In these circumstances, the Committee believes that policy accommodation can be maintained for a considerable period."
Sales of new single-family homes continued at a near-record seasonally adjusted annual rate of 1.145 million units in September, virtually unchanged from August's 1.147 million-units pace, according to a recent U.S. Dept. of Commerce report. "Housing continues to provide major muscle to the national economy as we head toward the end of the year," said Kent Conine, president of the National Association of Home Builders (NAHB).
"Residential fixed investment unquestionably boosted the national economy in the third quarter," said NAHB Chief Economist David Seiders. Solid demographic fundamentals, including strong immigration, are also major factors underpinning demand for housing, he said. The inventory of new homes for sale in September remained flat at 342,000 units, an historically low 3.7 months' supply at the current sales rate.
The median price of an existing home in California in September increased 17.9 percent and sales increased 28 percent compared to the same period a year ago, C.A.R. reported Monday. "We're continuing to experience the impact of the recent rise in mortgage interest rates on home sales in California," said C.A.R. President Toby Bradley. "Although interest rates are still near their historic lows, the psychological impact of rising rates has created a heightened sense of urgency in the housing market."
Closed escrow sales of existing, single-family detached homes in California totaled 631,880 in September at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 28 percent from the 493,800 sales pace recorded in September 2002. The statewide sales figure represents what the total number of homes sold during 2003 would be if sales maintained the September pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
The median price of an existing, single-family detached home in California during September 2003 was $380,040, a 17.9 percent increase over the revised $322,450 median for September 2002, C.A.R. reported. The September 2003 median price decreased 5.0 percent compared to a revised $400,020 median price in August.