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

Sunday, December 2, 2012

Longtime KBAK anchor Lisa Krch is leaving the station and questioning why Caltrans insists on plowing through a long established neighborhood to extend a freeway


* ... ANCHOR AWAY: Longtime KBAK/KBFX Eyewitness News anchor Lisa Krch has reportedly been let go by the CBS and Fox affiliates. Krch arrived in 1997 from Chico/Redding as morning anchor and later moved to the prime evening anchor slot. This latest talent change is one of many that news director Cristi Jesse has made since arriving at the duopoly last year.




 * ... WESTPARK: If you haven't read the column by Lois Henry on why Caltrans is insisting on plowing through the Westpark neighborhood to extend Highway 58, I recommend you do so. It is amazing to me that we would opt to destroy several hundred single-family homes and permanently divide a neighborhood just to save a couple of parks, which could easily be relocated and replaced.

* ... CALIFORNIA: There is little doubt that California economy is improving, but how you feel about that depends on where you live. Coastal areas are rebounding nicely, but the Central Valley and other inland areas are still struggling. According to a New York Times analysis, the Bakersfield metro area has a jobless rate of 13.4 percent compared to 7.7 percent in Santa Barbara and 7.9 percent in San Francisco. Fresno's unemployment rate came in at 14.9 percent, which the state average held at just over 10 percent.

 * ... WHAT RECESSION? Our jobless rate may be stubbornly high, but it hasn't stopped us from enjoying our favorite restaurants. I was out Saturday night and tried - unsuccessfully - to get a seat at both K.C. Steakhouse and Enso downtown, both of them doing booming businesses. We ended up squeezing in at Muertos in the Wall Street alley, but it's good to see the local eateries seems to be doing well.

 * ... HOT MARKET: And if you don't think the local housing market is heating up, consider this: A friend who works at Trader Joe's is being transferred and listed his house the day before Thanksgiving. By the Friday after Thanksgiving, he had five offers on his house and seven scheduled showings the next day. His listing agent: Laurie McCarty of Coldwell Banker.

 * ... CHRISTMAS NEEDS: The Centennial Medical Group has collected supplies for our troops overseas but is having trouble finding someone to help box them and ship them abroad. If you can help, contact Joanne Pearce at (661) 326-8989.

 * ... DID YOU KNOW? Did you know that Guy Madison, the Hollywood star who played a starring role in "The Adventures of Wild Bill Hickok" in the 1950s, was from Bakersfield? He was born in Pumpkin Center and went to both East High School and Bakersfield College before heading off to Hollywood. He was married briefly to the actress Gail Russell and died in 1966.


Tuesday, July 17, 2012

Catholic Online's Michael Galloway resorts to name calling and racial epithets as he is grilled by KBAK TV's Kurt Rivera, and our local housing market remains red hot for sellers



 * ... CATHOLIC ONLINE: There are few things as entertaining as watching the subject of a local investigation squirm, lose his cool and resort to name calling when pressed to answer a simple question. The latest case of bad form involved Michael Galloway, a local entrepreneur who apparently has built a pretty good business through his for-profit website Catholic.org. (Don't confuse Catholic.org with being the official arm of the church) The business has been the subject of numerous investigations and fines, and last week KBAK's Kurt Rivera followed up on a complaint that the company had withheld payment to a contractor. Galloway turned ugly when Rivera pressed him for answers. "You're an angry little Hispanic man. Geraldo. Isn't your name Geraldo? Is your name Geraldo? You're dressed like a pinhead. You are a pinhead," Galloway said while being filmed. Rivera didn't back off and Galloway ended the interview with yet another racial slur: "Goodbye little man. Go eat some tacos.'" Really Michael?  Seems not even a website with the name of Catholic.org can buy one class. (photo courtesy of KBAK TV)




* ... TIGHT MARKET: Christine Zimmerman is a local Chevron employee who has been house hunting in one of the tightest real estate markets in recent memory. Unfortunately, the supply of homes is near an all time low, and what she is encountering is all too common. "Yesterday, we found 'the house:' price, location, amenities, aesthetics, the entire package. It was newly advertised, and we were enthusiastic. I contacted the local real estate company whose ad we found first thing this morning, using their online form to request a showing... The second email from the company explained to me that the property had been 'contingent' since April as a short sale, agreed to between seller and buyer pending bank approval." Christine wondered if this was ethical, but experts told me in this case, it is. Short sales take months, and backup offers are discouraged, so they homes remain listed in case the deal falls through. Gary Belter of Coldwell Banker told me reasonably priced homes are "going in a heartbeat" via multiple offers. "It's a crazy market and there just isn't enough inventory," he said, "and the process of a short sale can really drag out the process." In the meantime, good luck to Christine and her husband in their search for a new home.

 * ... BAD FORM: A pox on the family who left Jastro Park littered with candy wrappers, used paper plates and gift wrapping paper after holding a piñata party Saturday. The broken piñata and other assorted pieces of trash were left exactly where they fell onto the grass. Is it really too much to ask parents to clean up after their children?



 * ... GOOD FORM: Meanwhile for every example of bad behavior someone, somewhere is trying to do the right thing. Just two blocks from Jastro Park and the piñata party, a woman walking her dog casually picks up discarded cups and trash as she makes her afternoon rounds.

* ... PAINTING: Hats off to Rich Johnson and his crew of meticulous painters for giving my 1909 downtown bungalow a fresh coat of paint that makes the old place look nearly new. Old homes are like relationships; they need a lot of love and care to keep fresh, and Johnson is an expert in breathing new life into houses that have seen better days. Johnson came to me via word of mouth and local recommendations. Give him a call as (661) 706-1077 if you're in the market for an expert painter.

 * ... COMPOSER: Congratulations to Coral Rose ("Coco") Chapman, the 6-year-old daughter of KEDC director Richard Chapman who just also happens to be a terrific young piano composer. Her original composition was among a handful chosen from over 500 statewide entries. Earlier this month, she performed her piece at the Composers Today Symposium in San Diego (held during the annual convention of the Music Teachers Association of California).  She attends Harmony Road Music School in Bakersfield.



Thursday, May 31, 2012

Out of town speculators are returning to the Bakersfield housing market, driving up prices but crowding out many local buyers



* ... REAL ESTATE: There is some good news and some bad in the local housing market. According to Coldwell Banker's Adam Belter (son of longtime Realtor Gary Belter) there are fewer than 550 homes on the market, a near all time low. That drives the prices up, which is good news, but it also has attracted a new wave of out of town speculators who are crowding out local buyers, often paying above the asking price. "We are in danger of becoming a community with more rentals than owners," he told me.






* ... COMING HOME: I had the chance the other day to catch up with plaintiff's attorney Daniel Rodriguez, who told me his 24-year-old son Marcos just graduated from Loyola University Law School in Chicago after receiving his undergraduate degree in business administration from the University of Arizona.  Marcos is coming hope to join his mother, Sylvia Lopez, to practice law. He is a 2005 graduate of Garces Memorial High School where he played basketball and football.  "I’m hoping to pry him away from time to time to help me in a trial or two," he told me.

  * ... BAD FORM: Steve Illingworth is the general manager of Urner's and a friend for almost 20 years. He's not prone to hype, which is why I am passing along this note about what appears to be some bad form on the part of a Kern High School District passenger van.  "I was driving west on White lane on Monday morning, Memorial Day, and was passed and cut off by a KHSD passenger van (no students on board). I observed the driver changing lanes multiple times to get by other drivers who were observing the 55 mph speed limit. The KHSD van was driving in excess of 65 most of the distance between Wible and Old River. She exceeded 70 mph at least once. After I gestured to her at a stop light to slow down, the light turned green and she honked at me and then tailgated me at a very close distance for quite some time. When I called the district on Tuesday morning to report the incident they were able to identify the driver but they could not answer why this employee was driving so recklessly or why she would be driving a KHSD van on a holiday."

 * ... RIP COOPER'S: Steve Montgomery joined the chorus of people lamenting the passing of Cooper's Nursery, which has served our community for so many years. "This past Saturday I picked up a tree for a friend of my wife's and while in the office handling paperwork I noted on the wall vintage signs from past businesses of the family. One sporting a three-digit phone number and a much newer one with a phone number starting with a two letter prefix. Remember those?"

* ... COVENANT: I stopped by the new offices of Covenant Community Services, the local organization that does so much good to help current and former foster children acquire the skills necessary to lead productive lives. The stunning new offices are located at 1700 North Chester in an old bank building that his been rebranded "Covenant Coffee: Hope Lives Here." It is now a full coffee house and sandwich bar, staffed by foster youth who have been trained by some of our community's most prominent restaurateurs and business people. Covenant's chief is Randy Martin, who told me a second location is being planned for Taft at the intersection of 4th and North streets. Drop by for a coffee sometime to help this worthy organization.

Tuesday, August 2, 2011

College grads facing a tough job market and why now might be the best time to get in the housing market

 * ... COLLEGE GRADS: With the national unemployment rate stalled north of 9 percent (and much higher locally) it's a bad time to be graduating from college and looking for work. But it appears some majors are doing better than others. According to Reuters, kids graduating with degrees in accounting, finance, economics, marketing, human resources or information technology have the best chances of finding work in a tough economy. The worst chances: students with degrees in the liberal arts (English, literature, communications etc). And for those who do find work, Reuters said the entry level salaries are now $10,000 less than they were just two years ago.



 * .. MORTGAGE RATES: Even though the prices of some homes may sink further over the next six months, there's a convincing argument to buy now. Why? Mortgage rates only have one way to go, and that is up. Mona Marimow, senior vice president for LendingTree, a loan comparison website, told USA Today that consumers "might look back on this period six months from now and regret it if they didn't take action." Nobody is more aware of this than local Realtors, who say these rock bottom mortgage rates along with slumping prices make it an ideal time to jump into the market.

* ... CREDIT CARD FRAUD: Seems I am not alone in having my credit cards hit with fraudulent charges. One reader, who asked to be identified by her first name Victoria, wrote to say she used her American Express card to pay for a recent cruise on Carnival Cruise Lines last year (she rarely uses the card) and then used her Visa to pay for charges on the ship. "About a week after I got back I started getting fraud charges on both cards out of Florida. I knew it had to have come from Carnival because no one else had both credit card numbers and no one (except Costco) should have my America Express Card number. I called Carnival right away to let them know someone in their company was stealing numbers as it could have only happened through them. I really don’t think they really cared, as they took my number and no one ever called back." Another friend, who works for a local water district, told me he just discovered $450 worth of fraudulent charges from Miami on one of his cards.

 * ... SHERYL CROW: In an earlier post on the Sheryl Crow concert last week I neglected to mention that the singer also singled out visiting "In Your Wildest Dreams," the costume and curiosity shop located across from the Padre Hotel. Reader Charlie Wilmot reminded me that the owner, Dixie Haley Brewer, is a North High graduate who regularly participates in charitable events. "I religiously read your Californian blog and especially enjoy your mention of local people and their  businesses," he said. "The Californian readers should also know that 'In Your Wildest Dreams' is much more than an antique store and they are daily donating to various local charities."

 * ... WHO KNEW?  Did you know that every Friday night during the summer, a free movie is shown in a city park? Sometimes, you can even float in the parks’ pools while enjoying the film.



 * ... BAKERSFIELDISM: You know you're a Bakersfield old timer if you remember "drag racing on Buena Vista Road south of the railroad tracks toward Panama Lane."





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Thursday, June 2, 2011

First Friday is alive and well in downtown Bakersfield and some perspective on the local housing market

  * ... HOUSING: Local appraiser Gary Crabtree, arguably the foremost authority on the Kern County housing market, added some perspective to news that the nation's housing market has hit the dreaded  double dip. "Let's not hammer another nail in the Bakersfield market coffin just yet. My independent research for the first quarter of 2011, indicates that the Bakersfield market is still 2.7% above falling into the 'double dip' category. My preliminary numbers for May indicate the median price rose last month to $131,750 or an increase of 4.6% over March. Sales volume has remained stable at around 550 units per month and foreclosures have remained stable at an average of 400 units per month over the last year. Well conditioned 'short sales' are receiving multiple offers  What is driving the Bakersfield market? Investors - they account for 1 of every 3 sales in Bakersfield in the past year."



  * ... FIRST FRIDAY: It's time for another First Friday downtown, and yes First Friday is alive and well. There seems to be some confusion about that since the advent of Third Thursday, a new event which replaces the old Chester Avenue Street fairs sponsored by the Downtown Business Association. These are two distinctly different venues serving different audiences. First Friday is more high brow, focusing on the arts district, art galleries and downtown businesses and restaurants and is the brainchild of Metro Galleries owner Don Martin. Third Thursday seems to be an extension of the old street fair idea with kettle corn and other street vendors hawking their wares, though it has moved to the more attractive Mill Creek Park. Different experiences, but both deserving of our support.

 * ... METRO EXHIBIT: And speaking of First Friday, Metro Galleries will feature an all-women art show that will benefit the Women's and Girls' Fund, part of the Kern Community Foundation. The show is called "Chronicles" and features the art of Chris McKee, Claire Putney, Barbara Reid and Marlene Tatsuno. Also on display will be new works by artist Heidi Rufeh. A portion of the opening night sales will be donated to the Women's and Girls' Fund. Metro Galleries is located on 19th Street but make sure you visit the other galleries, businesses and restaurants in the downtown area.

 * ... TUITION: The annual cost of tuition, room and board and a private, four-year college has not soared to $37,000 and tops $50,000 at some elite schools. For public schools, the average annual tuition is $16,000. The University of California system's tuition is set at $11,000 and change but could rise dramatically if the state budget is not brought under control.

 * ... CSUB SPORTS: Did you hear that three CSUB sports teams (men's basketball, women's water polo and golf) were among eight NCAA Division 1 sports programs in California that have been warned by the NCAA for poor academic performance? Not surprisingly, a supporter of the embattled wrestling program wrote to point out that three of the ten starters on the CSUB wrestling team are on the national All Academic Team: David Morgan, Elijah Nacita and Tyler Iwamura.

 * ... FOUNDATION: The Bakersfield Californian Foundation, a private family foundation run outside the auspices of the newspaper company, recently handed out almost $62,000 in grants. This round of grants focused on the Tehachapi area and included groups such at the Rotary Club of Tehachapi, the Tehachapi Community Orchestra, the Tehachapi Community Theater Association and the Tehachapi Mountain Foundation.

 * ... OVERHEARD: A downtown resident is heard telling a friend that he has taken to mowing the lawn of the abandoned house across the street because he fears its dismal state will hurt his chances of selling his own home.

Tuesday, May 10, 2011

Warren Carter faces his own battle with cancer as our housing market takes a huge tumble

 * ... SICK BAY: Had a nice call the other day from Warren Carter, the long-time local businessman whose family has owned Watson Realty since 1982. At 74, Warren told me he is facing a tough battle with Stage 4 cancer and is under the care of Dr. Ravi Patel at the Comprehensive Blood and Cancer Center (CBCC). "I just wanted to express my gratitude for all the calls and cards I have gotten from so many people," he said. "I am so grateful to be here with all of my children around and blessed to be in such good hands with Ravi Patel."  Deeply spiritual, Warren told me his illness, in some way, is a blessing because it allows him to get his affairs in order and express his love for family and friends. Warren's wife, Lenore Carter, died on Thanksgiving Day 2009 after her own battle with cancer. If he is feeling up to it, Warren will be my guest this Friday on Californian Radio SmartTalk1230 to talk about his family business, cancer and his own spirituality. Join us at 10 a.m. If you don't have access to a radio, listen to us online by using the Radio Time application on the web.





 * ... HOUSING: Just when you think the housing market can't get any worse, it does. Thanks to thousands of foreclosures moving through the market like the swelling Mississippi River, home values fell another 3 percent in the first quarter. And economists expect things to get a lot worse before they get  better. All this is according to to the real estate website Zillow.com, which notes that home prices have now fallen for 57 consecutive months. Stan Humphries, Zillow's chief economist, told The Wall Street Journal that the monthly declines in February and March were "really staggering" and "a reflection of the true underlying demand, which is now apparent because most of the tax credit is out of the system and it's being completely overwhelmed by supply." Locally, an estimated half of all homes are "under water," meaning the value of the property is less than the amount owed on the loan. Humphries said prices won't hit bottom before next year, when values will drop another 7 percent to 9 percent.



 * ... OLE MISS: It's not every day that a local boy ends up at Ole Miss, the Deep South university located  in one of the country's most charming college towns, Oxford. But that's where Alexander Kimble Edmonston will be in the fall, choosing the Southeastern Conference school over places like the University of Oregon and the University of Arizona. His proud mother, former TV anchor Lisa Kimble Edmonston, said "it was the quintessential collegiate experience of Ole Miss and the charm of Oxford, not to mention the SEC conference, strong Greek system and land of southern belles and gentlemen that won him over. Craig and I couldn't be more thrilled." Alexander will graduate from Camden Military Academy in Camden, S.C., soon. In the fall, he'll likely be spotted at an Ole Miss football game wearing a white oxford-cloth, button-down shirt, khakis and striped rep tie as is the custom there.



 * ... WALK ON: Speaking of local kids in college, hats off to Liberty High School  graduate Jacob Frost who won a position on the University of Colorado football team as a wide receiver. Jacob was one of six walk on candidates, and after a grueling two weeks of practice he won the position. He is the son of Ken and Carol Frost. Ken is a geologist for Berry Petroleum and Carol runs a private tutoring service in Northwest Bakersfield.

 * ... DIVORCE: Can't say I'm totally surprised that Gov. Arnold Schwarzenegger and wife Maria Shriver are separating after 25 years of marriage. The 25-year anniversary seems to have become a dangerous marker for Baby Boomers, and it's remarkable how many long-term marriages are dissolving right at the time folks become empty nesters. Remember Al Gore and wife Tipper? They split after 40 years of marriage. (AP photo)



 * ... BAKERSFIELDISM: You know you're from Bakersfield if you can't wait to move away and then can't wait to move back.

Tuesday, April 26, 2011

Housing values drop for sixth consecutive month, and bidding farewell to Gordon Johnson and Gaylen Young

* ... HOUSING: More sober news on the  housing front showing new home construction is nearing all-time lows and more than half of existing mortgages are now under water. The lack of new construction is good news for sellers, who no longer have to compete with new homes on the market, but terrible for the overall economy in the loss of jobs. Gary Crabtree, a local appraiser and one of the foremost experts on housing, told me on SmartTalk 1230 Californian Radio that a home should no longer be considered an investment where the asset always rises in value. "It's an emotional decision," he said, noting that the average house has lost value each of the last six months. My take: I love the idea of walking into my 100-year-old bungalow knowing I own it and don't have to answer to a landlord, and am cognizant that its value can go down, as well as up.



 * ... PADRE: From my mailbag: Reader Ginny Espinoza wrote to say she too heard the false report that Padre Hotel was going out business and is glad it isn't true. "We went to the Padre to celebrate our 45th anniversary, our first time at their restaurant. We had a wonderful time! The food was absolutely first class, our waiter (Pedro) was outstanding and we just happened to visit on Wednesday when bottles of wine were half price!" She later heard the rumor that the Padre was going out of business (it started with a brief on "Kern's Past" in The Californian noting that the hotel went out of business a half century ago) and was thrilled to hear it was not true. "Thanks for correcting the record!"
 


 * ... PERMENTER: Marlene Morales, head of marketing over at Chain, Cohn and Stiles law office, ran into legendary Foothill Coach Ned Permenter the other day. "I never realized how long he and Bob Ezell coached together," she told me. "They coached together for 37 years of varsity football, and that might be a record for two coaches at the same high school! Ned stated that you will never find a more loyal and dedicated guy than Bob Ezell, and he was so blessed to have him all that time. What is even more amazing is the fact, he never missed one day of school during his entire career at Foothill. Coach Permenter is a legend himself too."
 

 * ... RIP GORDON: Was sorry to hear of the death of Gordon Johnson, a retired orthodontist who truly was one of our community's kind souls. I met Gordon more than a decade ago when I joined the downtown Rotary Club, where he never missed a meeting. Always engaging and smiling, he was one of the first to welcome me into the club and always had a kind word to say. Condolences to his family.



 * ... GOODBYE GAYLEN: We lost another good soul when former KGET anchor Gaylen Young was killed in a Utah traffic accident. Turns out Gaylen was in town and at the downtown Post Office just two days before his death, chatting up the postal workers as he always did. He had moved to Utah but was still doing work for local companies at the time of his death. Gaylen endeared himself to audiences with his  upbeat attitude and his constant cheer leading for local businesses.


* ... OLD TIMER: Realtor Patsy Sadler wrote to say you know you're from Bakersfield "if you were in the first four-year graduating class at Foothill High School."

Sunday, April 4, 2010

More warnings of mortgage fraud "flopping" and local kid heads to Stanford


* ... HOUSING RISK: Local real estate appraiser Gary Crabtree is once again warning about mortgage fraud, this time regarding a practice known as "flopping." A flop occurs when an agent helps investors obtain distressed properties at deflated prices. Said Crabtree: "A very interesting anomaly was noted last month. The median price of the REO (real estate owned) sales was $130,000 while the median price of the 'short sales' was $120,000. This raises the question, are agents working the short sale market playing games with their BPOs (broker price opinion)? The new mortgage fraud of property flopping continues to rear its ugly head costing lenders and taxpayers untold losses of millions to the 'floppers.'" Lastly, Crabtree said that last month marked "the first month we saw an increase in foreclosures. Could this be the precursor to the 'second wave' of foreclosures causing a 'double dip' in the market? Only time will tell."


* ... STANFORD BOUND: Kudos to Melissa Hamilton, a Stockdale High School senior who is heading to Stanford University in the fall. Melissa is the high-achieving daughter of Dr. Chris and Susan Hamilton, who also happen to be Stanford graduates. And to keep it in the family, older sister Jennifer is a sophomore at the prestigious Palo Alto campus and reportedly thrilled her sister will be joining her.




* ... MORE BAD TASTE: This from a reader who responded to my post about the fake bull testicles hanging from pickup truck trailer hitches around town. "Somehow the lovely bull testicles have escaped my attention - must be  hanging out with the wrong crowd or driving the wrong streets. But enough about testicles. The truck accessory /decoration that is really tacky is the silver nude female silhouette - provocatively posed and one with a devil with horns and the other an angel with wings and a halo. They come in vinyl for your back window (bracketing your 12 gauge) or as attractive mud flaps. Classy."





 * ... BHS ARTS: Yvonne Cavanagh asked me to spread the word on an event that will raise money to support arts programs at Bakersfield High School. Yvonne is not only a BHS graduate but also owner of Surface Gallery, where the event will be held next Saturday, April 10. BHS Friends of Fine Arts (FoFA) is hosting the show, which will raise money for arts, dance, ceramics, forensics and other programs. Tickets are $25 and that includes one glass of wine, appetizers and a live band. Call parent Diana Ripepi at 661-327-5429 for details, or you can visit their Facebook site here.

 * ... BAKERFIELDISM: You know you're from Bakersfield when "your neighbor moves from the Southwest to the Northwest to be 'closer to the grandchildren.'"