Wednesday, December 31, 2008
China and the US Recession
Well, first of all, things are not the same as they were a few years ago in China. Yes, the Olympics were very impressive, and yes, most of what we bought during this Christmas season was still made in China, but the world economic condition is having some significant effects on the overall Chinese economy.
China’s rapid growth and burgeoning economic problems are also highlighting the close links between the American and Chinese economies. In the 1980’s and 90’s, China’s manufacturing prowess drove down the cost of most products and spurred demand in the United States for everything from toys to computers, according to Professor Merle Goldman at Boston University.
Buoyed by ample credit for American consumers, the total value of Chinese exports to the US grew nine fold between 1995 and 2007, when it reached $233 billion. But China’s rapid growth as disproportionately benefited its wealthiest people, leaving many Chinese unable to afford the products its factories export and making China particularly vulnerable to the US recession. And, last month the World Bank cut its 2009 growth forecast for China from 9.2% to 7.5%.
Since the beginning of this year, declining demand in the US and Europe, as well as a string of safety recalls of Chinese-made products, have pushed more than 1000 factories in one area of Dongguan, China into bankruptcy with some 2 million people out of jobs. Not a good picture.
All of this is to say that when we read about our national economy and the recession that is now part of the daily media, we realize that we are indeed in a World Economy. What happens in California and Connecticut has a rippling effect in Beijing and Bangladesh. Such is the nature of the flat world of 2009.
Most of the above was my interpretation of an article on the economy in the Atlanta Journal Constitution, which I read on a recent flight in and out of Atlanta, GA. Credits for the research can be given to Professor Goldman of Boston, along with Professor Deng Yupeng at the Dongguan Technological University in China.
Waqlkaways...what are they?
Mortgage law experts say the incentive to walk away from a home loan is highest in states that have anti-deficiency statutes, which prohibit lenders from suing borrowers for additional funds after foreclosure. California is one of those states.
These anti-deficiency laws make a huge impact on foreclosure rates because they are basically “get out of jail” cards, said Professor Zywicki of George Mason University in the Washington D.C. area.
The handful of non-recourse mortgages states includes, in addition to California, the high foreclosure states of Arizona, Florida, Texas, and even Washington. The statutes generally prohibit or limit a lenders’ ability to go after the borrowers’ assets to satisfy the unpaid mortgage debt.
In Redding, CA, and in our office, we have one of the largest inventories of foreclosed homes in the North State. From Los Molinos and Corning, north to the California border, including Red Bluff, Cottonwood, Anderson, Redding, and Shasta Lake City, we have a choice of REPOs from the $100,000 range up to the $600,000 category. Price is largely based on square footage of the home, the location, and the overall condition.
For additional information, lists of foreclosures, photos, etc….e-mail ronlargent@kw.com or go to www.ronlargent.com
Monday, December 8, 2008
Mobile Home Park in North Redding, $1,200,000
Mobile Home Park for Sale in Redding, CA Area
Wednesday, December 3, 2008
Lou Dobbs on CNN
Sunday, November 30, 2008
Thanksgiving Shopping...Not Too Bad
Sunday November 30, 6:15 pm ET
By Anne D'Innocenzio, AP Retail Writer
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The nation's retailers -- who since mid-September have suffered from the most dramatic falloff in spending in decades amid a ballooning financial crisis -- opened their stores as early as midnight on Thursday, holding their breath wondering if shoppers would show up for the pre-dawn specials. But while the crowds did come out, analysts say they were thinner than last year, and according to some accounts, business fell off sharply for the remainder of the weekend.
Shoppers were also focused on bargains and smaller-ticket, practical items like blenders and video games, as they worry about layoffs, tightening credit and shrinking retirement funds.
Even online spending, once a bright spot in retailing, has been hit hard by economic woes in recent months. ComScore, an Internet research company, reported Sunday that online spending was up a modest 2 percent for the combined Thanksgiving Day and Friday, compared with the year-ago period.
"I've cut my budget in half. I usually have a spending limit of $50 per person, but this year, it's $25," said Laura Bentley, of Miami, who was at the local Dolphin Mall on Saturday, her first day of holiday shopping.
Manno and Poun Sam of Houston, who had just purchased some toys, including a Crayola coloring game and a stuffed animal, at a Wal-Mart store in suburban Houston on Saturday, said they were trying to stay within a $500 budget.
"We're not buying anything fancy," said Manno Sam, an assembly-line worker. "We can't afford it."
New York-based retail consultant Walter Loeb said he expects sales for the weekend to be below year-ago levels, based on discussions this weekend with key executives from discounters and department stores.
But he added, "It wasn't as bad as some feared. ... People were buying but they bought cheap, and the results were not as good."
Marshal Cohen, chief industry analyst at NPD Group, a market research group, who had a network of analysts at 53 mall locations across the country this weekend, said that "the holiday started off with some promise but quickly moved to concern."
"It could have been a disaster, but it wasn't," he said, noting that he estimates that the weekend's sales were at best even with the same holiday weekend a year ago.
Karen MacDonald, a spokeswoman at Taubman Centers Inc., which operates 24 malls in 11 states, said that based on a sampling of malls, business on Friday was anywhere from unchanged to up mid-single digits. But on Saturday, sales were unchanged to down slightly.
"Friday was encouraging, but Saturday wasn't as good as we hoped," she said.
But Toys R Us Chief Executive Jerry Storch reported on Sunday that customer traffic was at least as strong this past weekend as the Thanksgiving weekend a year ago, and said he was "definitely pleased with sales."
Geoffrey Webb, director of advertising and sales promotions at K-B Toys Inc., said that sales for the weekend were equal or slightly better than last year.
"We are very encouraged by the response," he said.
A more complete sales picture of how the Thanksgiving shopping weekend fared won't be known until Thursday when the nation's retailers report November same-store sales, or sales at stores opened at least a year.
According to preliminary figures released Saturday by ShopperTrak RCT, a research firm that tracks total retail sales at more than 50,000 outlets, sales rose 3 percent to $10.6 billion on Friday from the Black Friday a year ago.
ShopperTrak RCT is expected to release data for the combined Friday and Saturday period on Monday. Bill Martin, ShopperTrak's co-founder, said he wasn't sure if the momentum was sustained through the rest of the weekend.
The day after Thanksgiving -- dubbed Black Friday because it historically was the day when a surge of shoppers helped stores break into profitability for the full year -- has been fading in importance.
In recent years, merchants have been pushing earlier the sales and expanded hours that were typically reserved for that day. This year, in a desperate bid to pull in shoppers, stores were even more aggressive, offering discounts of up to 70 percent in the days leading to the weekend, and widening those price cuts for a broader array of merchandise for the early morning deals.
Aside from the economy, however, Black Friday's early morning madness has also lost some of its steam because of the abundance of bargains that shoppers can find on the Web. Cohen also noted there's less frenzy this year because, with the exception of some isolated hard-to-find hits like Fisher-Price's Elmo Live and Nintendo's "Wii Fit" exercise game, there isn't a particular gift that's a "big standout."
While Black Friday isn't a predictor of the holiday season, it does act as a barometer of consumers' willingness to spend. Complicating matters is a shorter buying season -- 27 days between Black Friday and Christmas -- instead of 32 last year, putting more pressure on retailers.
Clearly economic woes played a role in how shoppers bought this weekend. K-B's Webb noted that consumers were focusing on bargains like a $30 My Happy Family dollhouse, which offered furniture and figures, as part of the retailer's supervalue program. Taubman's MacDonald said that practical items did well, like cookware and small home appliances, but clothing and electronics also were popular because they were deeply discounted.
The managers of Dillard's and Macy's departments stores at Greenspoint Mall in north Houston both said weekend crowds met expectations, though shoppers seemed to be more bargain-hungry than in recent years.
At the mall's Macy's, one of a dozen in the Houston area, clothing, jewelry and home items -- but not high-end brands -- were selling well, said manager Ron Misrack.
"People seem to be going to promotional items," Misrack said. "If you look at our books, you can see the specials, and people seem to be going for those items."
Friday, November 28, 2008
Mobile Home Parks for Sale in Northern California
Mobile Home Parks in Redding, Red Bluff, Chico, Corning, Willows, and surrounding areas, and in Shasta,Tehama, and Butte Counties, California.
This is an example of one of our MLS cooperative listings available through our office:
MOBILE HOME PARK ON THE SACRAMENTO RIVER.PARK IS ON 4.79 ACRES WITH 408 FT. OF RIVER FRONTAGE, PARK CONSISTS OF A 1600 SQ. FT. HOME OVERLOOKING THE RIVER AND 31 SPACES.ALSO INCLUDES SMALL SHOP AND LAUNDRY FACILITIES FOR RESIDENTS.BUYER TO VERIFY SQUARE FOOTAGE OF HOUSE.PARK IS ON WELL AND SEPTIC
Liberty Gas in Red Bluff at $950,000
List #08-6044
Turtle Bay Shell station and store at $950,000
List #08-1772
Thursday, November 27, 2008
Palo Cedro Ranch Just Reduced from $500K
List #08-5021
Just reduced in Palo Cedro California from $500k
List #08-5021
Redding Home for sale at $369,000
List #08-5820
Just Listed at $249,000 in Redding, CA
List #08-6489
Housing Slips in Redding CA
David Benda at the Record Searchlight kind of wrote it all....you can see the full article at the following site:
http://www.redding.com/news/2008/nov/26/area-housing-market-slips-prices-drop-14-over-past/
Redding’s housing market sizzled five years ago when it topped a government index as the fastest-appreciating area in the nation. It was the dawn of an unprecedented real estate run-up that exhausted itself in early 2006. Today, Redding is one of the 40 fastest-declining markets in the same government index. Plenty of other California cities share the same fate. Home values in Redding slid 14.07 percent in the third quarter of 2008 compared with the same three months a year ago, according to the Federal Housing Finance Agency (FHFA) all-transaction House Price Index. Prices in Redding — which includes Anderson, Shasta Lake and unincorporated Shasta County — in the third quarter declined 6.63 percent from the second quarter of this year. Over a five-year period, values in Redding have increased 31.14 percent. Redding ranked 256 in the index, which surveyed 292 metropolitan areas
Saturday, November 22, 2008
Sarah Palin is still a Winner
Sarah Palin continues to attract huge media interest despite her failed bid to become vice president.
The failed Republican vice presidential candidate crunched state budget numbers this week in her 17th-floor office as tumbling oil prices hit Alaska's revenues. Meanwhile, her staff fielded television requests seeking the 44-year-old for late-night banter and Sunday morning Washington policy.
Agents, including those from the William Morris Agency, have come knocking. There's even been an offer to host a TV show.
"Tomorrow, Gov. Palin could do an interview with any news media on the planet," said her spokesman, Bill McAllister. "Tomorrow, she could probably sign any one of a dozen book deals. She could start talking to people about a documentary or a movie on her life. That's the level we are at here."
"Barbara Walters called me. George Stephanopoulos called me," McAllister said. "I've had multiple conversations with producers for Oprah, Letterman, Leno and 'The Daily Show.' "
Asked whether Winfrey was pursuing Palin for a sit-down, Michelle McIntyre, a spokeswoman for Winfrey's Chicago-based Harpo Productions Inc., said she was "unable to confirm any future plans" for the show.
Palin may have emerged from the campaign politically wounded, with questions about her preparedness for higher office and reports of an expensive wardrobe, but she's returned to Alaska with an expanded, if unofficial, title: international celebrity.
Sen. John McCain plucked Palin out of relative obscurity in late August and put her on the national Republican ticket. Now, she has to decide how and where to spend her time, which could have implications for her political future and her bank account, with possible land mines of legal and ethical rules.
Palin is considering about 800 requests for appearances from December through 2009, with 75 percent coming from out of state. A year ago, just a sprinkle of requests came from beyond Alaska's borders. They range from invitations to speak at the Chief Executives' Club of Boston, Massachusetts, and to attend a 5-year-old's birthday party, from a prayer breakfast in Cedar Rapids, Iowa, to a business conference in Britain.
Michael Steele, the former Maryland lieutenant governor who wants to be the next chairman of the Republican National Committee, is seeking face time.
She has invitations to make appearances in 20 foreign countries, typically with all expenses paid, McAllister said. She has more than 200 requests for media interviews, again from around the globe. Watch whether Palin has plans for 2012 »
"She has to pace herself," suggested veteran Hollywood publicist Howard Bragman. "She wants a career made in a Crock-Pot, not a microwave."
In her two months on the national stage, Palin energized the Republican base but turned off moderates and independents, according to some surveys. Flubbed answers in national television interviews raised questions about her competence. She was embarrassed by the disclosure that the RNC spent at least $150,000 for designer clothing, accessories and beauty services for her and her family.
The right book or movie deal could help Palin reintroduce herself to the nation, on terms she could dictate. Watch Palin says she's ready to help Obama »
Although books and movie deals could be worth millions of dollars, it's not clear whether Palin would be able to legally earn it. State rules say she cannot accept outside employment for compensation. But there appears to be little in the way of precedent left by former governors to judge if book deals or lucrative speaking appearances amount to "employment."
Palin has sent unmistakable signals that she is open to running for president in 2012, but to advance her political ambitions, she must stay in the public eye in the lower 48 states.
As with any celebrity, there is the risk of overexposure. At the same time, she'll be under pressure to attend to governing her home state, which is thousands of miles from the rest of the nation.
"She has to deal with the perception that she bobbled her debut," said Claremont McKenna College political scientist John Pitney. "She needs to stay home for a while. If she wants a future in national politics, her No. 1 job is doing a good job as governor."
Shasta College Wins Bowl Game
SAN MATEO - The Shasta Knights football team won a thrilling Bulldog Bowl today with a final score of 33-31 over the Monterey Peninsula Lobos.
As time was running out, Shasta's Zack Gibbins intercepted a Hail Mary pass to end the game.
Shasta's Blake Arrowsmith caught an 8-yard TD pass from Will Camy with 33.9 seconds left to put the Knights up 33-31. Brandon Boyd missed the PAT.
Shasta had the ball at 2nd-and-goal from Monterey's 8-yard line with 40.1 seconds left in the game.
Monterey Peninsula came back 31-27 with 1:50 left in the fourth quarter of the bowl game at the College of San Mateo campus. Lobos quarterback Brian Reader scored on a 1-yard QB sneak.
Shasta's Ryan Krueger scored on a 46-yard TD run with 5:45 left to play. Blake Arrowsmith missed the extra-point.
With 13 minutes left in the fourth quarter, Shasta safety Casey Robertson snuffed out a Monterey Peninsula drive by making a diving interception.
With :07 left in the third quarter, Shasta's Brandon Baldwin scored on a 29-yard TD run. Blake Arrowsmith's extra-point was good.
The Knights scored a touchdown with 4:41 left in the third quarter when Arrowsmith caught a 50-yard TD pass from Will Camy. The Knights went for two points and Camy hit Brandon Baldwin in the flat for the 2-point conversion.
The Lobos had gone up 24-6 with 5:23 left in the third quarter after a 31-yard field goal by Monterey's Chris Pinto.
Shasta got on the board after taking the opening drive of the second half in for a score. Ryan Krueger scored on a 2-yard TD run on a toss sweep left. Arrowsmith missed the extra-point attempt.
But the Lobos came back and scored on the kick return. Zachkary Heager scored on the 87-yard kickoff return for with 11:52 left in the third quarter
Monterey Peninsula scored its second touchdown with 29 seconds left in the second quarter. Lobos quarterback Brian Reader threw an 85-yard TD pass to Heager on a great out-and-up play.
Reader pump-faked an out route and Shasta corner Robert Lee bit. Heager then got behind the Knights secondary, got it at the 40 and ran it in.
Halftime statistics for Shasta: Brandon Baldwin has run 11 times for 60 yards. Will Camy is 8-of-10 passing for 50 yards. Blake Arrowsmith has six catches for 28 yards.
For Monterey Peninsula: Ian Hesse has 12 rushes for 66 yards and a score. Quarterback Reader is 10-of-19 for 160 yards and a touchdown pass.
Shasta wasn't able to do much offensively in the first half. Although midway through the second quarter, Shasta's Baldwin reeled off runs of 16 and 25 yards on back-to-back plays, putting the Knights on Monterey's 40-yard line. The Lobos called a timeout with 7:30 left in the second quarter.
Earlier, Monterey running back Hesse ran 31 yards off left tackle for a touchdown with 8 minutes left in the first quarter. Chris Pinto made the PAT kick.
The Knights will return home this evening, probably sometime after 9 p.m.
Buy a Convenience Store in Northern California
Stores range from a Chevron on leased ground in great location in Redding for $300,000 to a branded and unbranded station that can be sold together in Redding, CA for $3,500,000.
Stores have both good inside sales and good gas volume, and a number of the stores have a liquor license to go along with a beer and wine license.
Brands include Shell, Chevron, 76, Valero, and Beacon, in addition to the unbranded stations.
Various locations and sizes. Financing available on some stations.
E-mail for details, financials, and photos to ronlargent@kw.com
This is the time to buy a Convenience-Mini Mart store, for people are buying gas, buying fast food items, and continuing to make the Convenience Store business one of the best profit businesses in the US.
Friday, August 15, 2008
Just Listed...Self Storage/Mini Storage for Sale in Redding, CA
Just listed a medium size complex in Redding, Ca in great location and priced to sell at $795,000. 90% occupied almost all of the time, and in good condition and in growing area.
E-mail for details, photos, financials, etc.
Ron Largent Keller Williams Realty of Redding, CA
www.ronlargent.com ronlargent@kw.com
Thursday, July 10, 2008
Sundial Bridge at Turtle Bay in Redding, CA and Bikes
The Commission will conduct a large public info and awarness campaign to make this well known, as well as posting signs at various locations along the Sacramento River Trail, in the Turtle Bay parking areas, and near the bridge itself.
If you have not seen the Sundial Bridge in Redding, it is well worth the trip. Located just off of Highway 44 at the Convention Center exit....it is a beautiful sight...and a fun place to spend an hour....just enjoying the bridge and the beautiful River.
Enjoy.
Ron Largent Keller Williams Realty in Redding, CA
Your Commercial Real Estate Connection to the North State
www.ronlargent.com ronlargent@kw.com
530-248-5601
Saturday, July 5, 2008
Convenience Stores in Northern California
Currently there are over 30 stores, most with gas stations, listed from Willows, CA north to the Oregon border.
ronlargent@kw.com www.ronlargent.com
Your Commercial Real Estate Connection to the North State.
Wednesday, July 2, 2008
The World is Flat by Thomas Friedman
Once you start reading it, you will not be able to put it down.
From time to time, I am going to blog on certain points he makes, for he is "right on".
Thanks,
Ron Largent
The Largent Team at Keller Williams Realty in Redding, CA
Your Commercial Real Estate Connection in the North State
www.ronlargent.com ronlargent@kw.com
Redding Commercial Real Estate; 76 Gas; Dairy Queen in Redding, CA
In addition, a good commercial retail buy is our Redding Dairy Queen located on busy Churn Creek Road near the Mt. Shasta Mall.
Offered at $375,000 without the land, this is a going successful business.
On both of these, e-mail for info
ronlargent@kw.com www.ronlargent.com
Ron Largent, Keller Williams Realty in Redding, CA, part of The Largent Team
Your Commercial Real Estate Connection to the North State
Friday, June 27, 2008
Convenience Store in Palo Cedro- Just Listed
Thanks,
Ron Largent The Largent Team Selling Northern California
www.ronlargent.com ronlargent@kw.com
