Showing posts with label local housing. Show all posts
Showing posts with label local housing. Show all posts

Thursday, October 21, 2010

Another "seismic legal clash" adds to woes in the housing market and the SPCA plans its Mutt Strut



 * ... REAL ESTATE: Can things possibly get worse with the housing crisis? Well apparently they can. Amid a market that is swamped in foreclosures and uncertainty, the focus now is on thousands of documents that went missing in the 2005 to 2007 frenzy when the market was red hot. As the New York Times noted, "now those missing and possibly fraudulent documents are at the center of a potentially seismic legal clash that pits big lenders against homeowners and their advocates concerned that the lenders' rush to foreclose flouts private property rights." So how have the big banks responded to this crisis? They've made it near impossible to qualify for a loan, at least according to local Realtors I have spoken with. I saw one the other day and the look of frustration on his face was almost painful to witness. Yet another escrow on a house - a beautiful place at the right price in a wonderful neighborhood - had fallen through because of the reluctance of a bank to make a loan. "You wouldn't believe what they dragged my client through - sixty days of it! - and his credit is perfect. This neighborhood lost a wonderful family." One thing is clear: we are a long way from crawling out of this hole and meanwhile, wonderful homes at reasonable prices sit on the market.



 * ... SPOOK: One of the more successful but little known annual events is this Saturday's Spooktacular, a 100-mile bike ride featuring more than 10,000 feet of climbing in the impressive mountains that frame our community. It is put on annually by the Kern Wheelmen cycling club and draws several hundred riders from across the West. There are shorter courses available, but the two 100-mile jaunts - one goes up White Wolf grade outside of Arvin and then the switch backs of Lion's Trail to Walker Basin while the other tackles Breckenridge mountain - test even the fittest of riders.



* ... MUTT STRUT:  If riding 100 miles is too much for you, check out another worthwhile event this Saturday, the eighth annual Mutt Strut walk and run to benefit the SPCA at Yokuts Park. The SPCA's Chuck Nordstrom said all runners will receive a T-shirt and goody bag. Registration starts at 7 a.m. and there will be plenty of food after the race and walk. "Following our race will be Anderson Acres Responsible Dog Day Event from 10 a.m. to 3 p.m. where the SPCA will be offering a microchip clinic and the county will be offering rabies vaccinations and licensing," he said.

 * ... BROCKS: John Brock Jr. wrote to share some history of the old Trailway's bus depot that was located at the northwest corner of 20th and K streets. "My family bought the property in the late 1950s or early 1960s, demolished the building and created an additional parking lot for Brock's."



 * ... GO DUCKS: Heard from reader Lori Peters that Lauren Kotz, a 2010 graduate of Stockdale High School, has landed a spot on the University of Oregon softball team. Peters said Kotz was the only player to make the team as a walk-on. Not a bad time to be a Duck given the strength of its football team this year.

 * ... SPOTTED: As seen by KGFM radio host Rachel Legan: "A couple smoking outside the cancer clinic. Oh, the irony."

 * ... BAKERSFIELDISM: You know you're a Bakersfield old-timer if "you saw Pancho Gonzales and Lew Hoad play an exhibition at the Bakersfield Racquet Club."



Thursday, March 25, 2010

More troubling news on our housing market and the generosity of Norman Levan


 * ... HOUSING WOES: We got some more bad new on housing when the February numbers showed that sales of previously owned homes had dropped for the third straight month. Add to that more homes on the market and it's more evidence of an anemic market. On the other hand, it's a terrific time to buy a house. Prices have dropped dramatically (some local homes are going for half what they sold for a few years ago) and interest rates are near historic lows. So on some level, there may not be a better time to invest. There are terrific deals even in large cities that have been slammed with foreclosures. CNBC's list of the top ten cities to get a great deal on foreclosures (starting with No. 10 and counting down to the worst) San Francisco, Kansas City, Mo., Riverside, Los Angeles, Denver, Phoenix, Minneapolis-St. Paul, Columbus, Ohio, Cincinnati and finally at No. 1, Pittsburgh.

* ... NORMAN LEVAN: One of our community's most generous benefactors is Dr. Norman Levan, a dermatologist and philanthropist who has given $6 million  each to Bakersfield College, University of Southern California, St. John's College in Santa Fe, N.M., and the Shaare Zedek Medical Center in Jerusalem. Last week, a wide circle of friends gathered at Bakersfield College to celebrate Levan's 94th birthday. His donations have been used to advance the humanities at all institutions and just last month the Levan Center for the Humanities opened at BC.

 * ... CRIME LAB: Lisa Green, the chief deputy district attorney who is running unopposed to succeed Ed Jagels as our new District Attorney, spoke at the downtown Rotary Thursday about the benefits of DNA testing and keeping the Kern Regional Crime Lab fully funded. It was DNA testing that led to the quick arrest of Anthony Ray Graham Jr. in the horrific "Babies R Us" rape case, which featured a kidnapping and rape in broad daylight. Green put everyone on notice that as DA she will fight to keep the lab funded.

 * ... SAYING THANKS: Reader Donna Rice wrote to tell me about the sudden death of her husband of 31 years. Her thoughts are powerful in their simplicity. In her words: "While a personally difficult burden to bear, the loss brought with it unforeseen comfort to me and my family. The support, help, thoughts and prayers of family, friends, colleagues, the professionals who assisted us and even complete strangers gave me and my family great comfort in the days that followed .... At a time when so much of the news we see and hear is negative, a personal tragedy such as this brought out the innate kindness of so many people in this city." Well said and thank you for sharing.


 * ... LONG COMMUTE: How would you like to commute from Bakersfield to Santa Monica? Well Carl Nicita has been doing just that for six long years, and he loves it. Carl and his wife Beverly have lived in the Southwest for 25 years and both their boys graduated from Ridgeview High School. Six years ago Carl left his job at the Kern County Fire Department and became a traffic officer with the Santa Monica police. He works 10-hour shifts and leases a rent-controlled apartment in Venice Beach just  minutes from work. How's the commute? "Actually I have been totally blessed and I have the absolute best of both worlds. I get to work and stay at the beach. And then I get to come back to Bakersfield and enjoy being away from the hustle and bustle of the big city.  Believe me, being able to park in my own driveway and not having to worry about traffic is one of life's most simple pleasures!" Next step is looking toward retirement and Nicita says Bakersfield is looking good.
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 * ... BAKERSFIELDISM: You know  you're from Bakersfield when: "You've seen the Stairway to Heaven lights when returning to Bako at night on the Grapevine. And you know to call it Bako and why we call it that."


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