This came this morning from Kirk Scrima, my good friend and associate at Summit Funding here in Redding…..
This week brings us the release of four economic reports for the markets to digest, but none of them are considered to be highly important to mortgage rates. However, this will be an extremely busy week for corporate earnings, which usually translates into stock volatility.
Today has September’s Industrial Production data scheduled to be posted. It will be released mid-morning, giving us an indication of manufacturing strength by tracking output at U.S. factories, mines and utilities.
September’s Housing Starts is the week’s second release, coming early Tuesday morning. This report will probably not have much of an impact on the bond market or mortgage rates.
The only report scheduled for release Wednesday will be released during afternoon trading when the Federal Reserve will post its Beige Book at 2:00 PM ET. This data details economic conditions throughout the U.S. by region. The last report is September’s Leading Economic Indicators (LEI) late Thursday morning. This index attempts to measure future economic activity, particularly during the next three to six months. Current forecasts are calling for an increase of 0.3% from August’s reading.
Overall, I don’t see a particular day that should be labeled the single most important. The week’s economic reports are all moderately important to the markets, so we can’t rely on any of them to drive rates.
Rates for Conforming & FHA 30 Year Fixed are running 3.875% – 4.50% & USDA 30 Year Fixed is running 4.00% – 4.50%. Make it a great week!
See You At The Top!…and if you have any questions, please call me at 530-248-5601 or e-mail ronlargent@kw.com or www.ronlargent.com
Monday, October 18, 2010
Liquor License for sale in Redding, Ca for $50,000.
On Site Liquor License for Sale for $50,000 in Redding, CA
This is an on-site California Code 47 beer, wine, and liquor license for sale in Shasta County, CA. The business that this was used at is now closed and the previous owner of the restaurant now wants to sell the license.
E-mail for details, etc or call me at 530-248-5601.
Downtown Redding. Redding is 165 miles north of Sacramento on Interstate 5. For details on Redding, go to my website www.ronlargent.com or www.visitredding.com
This is an on-site California Code 47 beer, wine, and liquor license for sale in Shasta County, CA. The business that this was used at is now closed and the previous owner of the restaurant now wants to sell the license.
E-mail for details, etc or call me at 530-248-5601.
Downtown Redding. Redding is 165 miles north of Sacramento on Interstate 5. For details on Redding, go to my website www.ronlargent.com or www.visitredding.com
Friday, October 8, 2010
Bank of America Takes Position on Foreclosed Homes
This article hit the news this morning….let’s see if other lenders follow:
A mushrooming crisis over potential flaws in foreclosure documents is threatening to throw the real estate industry into chaos, as Bank of America on Friday became the first bank to stop taking back tens of thousands of foreclosed homes in all 50 states.
The move, along with another decision on foreclosures by PNC Financial Services Inc., adds to growing concerns that mortgage lenders have been evicting homeowners using flawed court papers, without verifying the information in them.
Charlotte, N.C.-based Bank of America Corp., the nation’s largest bank, said Friday it would no longer complete foreclosures in all 50 states as it reviews documents used to process foreclosures. That applies to homes that the bank takes back itself and those that it transfers to investors such as mortgage giants Fannie Mae and Freddie Mac.
A week earlier, the company had said it would only do so in the 23 states where foreclosures must be approved by a judge.
The bank did so in reaction to mounting pressure from public officials inquiring about the accuracy of foreclosure documents. A document obtained last week by the Associated Press showed a Bank of America official acknowledging in a legal proceeding that she signed thousands of foreclosure documents a month and typically didn’t read them. The official, Renee Hertzler, said in a February deposition that she signed up to 8,000 such documents a month.
A company spokesman, Dan Frahm, said the bank still believes its documents are correct but wants to satisfy officials’ concerns. “Our ongoing assessment shows the basis for our past foreclosure decisions is accurate,” he said.
Senate Majority Leader Harry Reid, D-Nev., who had called for such a suspension, applauded the bank “for doing the right thing by suspending actions on foreclosures while this investigation runs its course.” Also Friday, Sen. Christopher Dodd, D-Conn, the chairman of the Senate Banking Committee, said he would hold a hearing on the issue next month.
“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” Dodd said. “Regulators at the federal, state, and local levels have a responsibility to uphold the law and protect consumers from unfair foreclosure, and lenders have a duty to not cut corners around the law.”
Banking and housing analysts, meanwhile, fear the foreclosure document problems could prolong the housing bust, and hundreds of thousands of inevitable foreclosures will be pushed off into some legal limbo for years.
“If you are looking at the key in this country to economic stability, it’s the housing industry,” said banking analyst Nancy Bush of NAB Research. “This is a huge mess that helps nothing.”
And some analysts feel that uncertainty about foreclosures could make potential buyers change their mind about purchasing foreclosed properties. That’s because of fears that the former owners will turn around and sue.
However, there could be a silver lining to the problem. A delay in foreclosures could actually prop up home prices in the short term because fewer low-priced homes would pour onto the market in the coming six months. When those properties ultimately do go up for sale, the overall economy could be in better shape, said Mark Zandi, chief economist at Moody’s Analytics.
“The irony is, it may actually support the recovery,” Zandi said. “It may be that when those properties actually hit the market, the economy is in a better place,”
Stay tuned….interesting times…but if you want to see some foreclosed homes in Redding and Shasta County, e-mail me please…. ronlargent@kw.com
A mushrooming crisis over potential flaws in foreclosure documents is threatening to throw the real estate industry into chaos, as Bank of America on Friday became the first bank to stop taking back tens of thousands of foreclosed homes in all 50 states.
The move, along with another decision on foreclosures by PNC Financial Services Inc., adds to growing concerns that mortgage lenders have been evicting homeowners using flawed court papers, without verifying the information in them.
Charlotte, N.C.-based Bank of America Corp., the nation’s largest bank, said Friday it would no longer complete foreclosures in all 50 states as it reviews documents used to process foreclosures. That applies to homes that the bank takes back itself and those that it transfers to investors such as mortgage giants Fannie Mae and Freddie Mac.
A week earlier, the company had said it would only do so in the 23 states where foreclosures must be approved by a judge.
The bank did so in reaction to mounting pressure from public officials inquiring about the accuracy of foreclosure documents. A document obtained last week by the Associated Press showed a Bank of America official acknowledging in a legal proceeding that she signed thousands of foreclosure documents a month and typically didn’t read them. The official, Renee Hertzler, said in a February deposition that she signed up to 8,000 such documents a month.
A company spokesman, Dan Frahm, said the bank still believes its documents are correct but wants to satisfy officials’ concerns. “Our ongoing assessment shows the basis for our past foreclosure decisions is accurate,” he said.
Senate Majority Leader Harry Reid, D-Nev., who had called for such a suspension, applauded the bank “for doing the right thing by suspending actions on foreclosures while this investigation runs its course.” Also Friday, Sen. Christopher Dodd, D-Conn, the chairman of the Senate Banking Committee, said he would hold a hearing on the issue next month.
“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” Dodd said. “Regulators at the federal, state, and local levels have a responsibility to uphold the law and protect consumers from unfair foreclosure, and lenders have a duty to not cut corners around the law.”
Banking and housing analysts, meanwhile, fear the foreclosure document problems could prolong the housing bust, and hundreds of thousands of inevitable foreclosures will be pushed off into some legal limbo for years.
“If you are looking at the key in this country to economic stability, it’s the housing industry,” said banking analyst Nancy Bush of NAB Research. “This is a huge mess that helps nothing.”
And some analysts feel that uncertainty about foreclosures could make potential buyers change their mind about purchasing foreclosed properties. That’s because of fears that the former owners will turn around and sue.
However, there could be a silver lining to the problem. A delay in foreclosures could actually prop up home prices in the short term because fewer low-priced homes would pour onto the market in the coming six months. When those properties ultimately do go up for sale, the overall economy could be in better shape, said Mark Zandi, chief economist at Moody’s Analytics.
“The irony is, it may actually support the recovery,” Zandi said. “It may be that when those properties actually hit the market, the economy is in a better place,”
Stay tuned….interesting times…but if you want to see some foreclosed homes in Redding and Shasta County, e-mail me please…. ronlargent@kw.com
Wednesday, October 6, 2010
RV Park Just on the Market in Redding, CA
This listing just came up and was presented to me by a cooperating broker, and this is a good park,
Pride of Ownership shows in this RV park adjacent to I-5. Almost half of the tenants are full time residents of the property. The park has full amenities including a convenience store with recreation room, well appointed bath and shower facilities, on-site laundry, swimming pool with picnic area; full cable t.v. and wifi access; on-site propane sales and dump site
Located off Interstate-5 at the Lake Blvd. exit in the north area of Redding, the property sits on a high knoll overlooking the freeway with excellent signage; the park is located on approximately 6 acres of terraces land with well maintained streets and pull thru for the larger r.v.’s
This is an excellent RV park and is priced right. E-mail for details, photos, financials, etc ronlargent@kw.com
www. ronlargent.com
Thursday, September 16, 2010
Income-Investment Property For Sale in Redding and Northern California
As of today, 97 residential income properties are listed in the Shasta Association of Realtors. Prices start below $100,000…some of the lowest ever for income-investment properties in our area. We just opened an escrow on one of these at $100,000 and we are doing a high loan to value loan…in some cases, you can get in for as low as $10,000, as some seller carry back is possible. E-mail me for details, photos, etc…. ronlargent@kw.com www.ronlargent.com
Here is one of those properties descriptions….from the MLS.
3 units on one lot which include the main house at 1200 Grange, 2930, and 2932 Favretto. Bank Owned Property – Buyer to do any and all verifications/inspections they deem necessary. All information stated is from parcelquest/past MLS listings. Information has not been verified.
The properties range from the $100,000 range up to above $2 million…so lots of choice. This is a great time to buy an investment-income property in the Redding area. Give me a call today.
…here is a look at one of the current listings. Not bad.
Monday, September 6, 2010
Mobile Home Parks for sale in California
The Victorian Village Senior Mobile Home Park located in the historic town of McCloud, CA at the base of majestic Mount Shasta in Northern California, is offered for sale with two options for the qualified buyer.
The basic Park was built four (4) years ago with all utilities and services to all 43 mobile home spaces. To date, eight (8) spaces have been rented, and tenants have brought in impressive manufactured homes placed in the spacious locations throughout the Park. The Park is a classic upscale Senior Park, so the tenant units are very impressive.
All improvements for the entire Park are in place, including a complete sprinkler system for the landscaped open areas, and features a gazebo for small group gatherings. The paved streets winding through the Park allows for a great deal of privacy for the residents, as well as giving the feeling of openness as one looks at the majestic mountain in the immediate background.
Proforma for the existing Park would produce a gross income of $216,720; with projected expenses of 35% would produce a Net Income of $140,868. At the offering price of $1,600,000, this would be an 8.8% cap on the investment.
The Park currently is a Planned Development, but the owner is in the process of filing for a subdivision, and the Park can be sold as a 43 lot subdivision upon final approval by the County and State, which is expected in the fall of 2010. The offering price for the subdivision will be $2,300,000, which will feature mobile home lots ready to be sold at just over $53,000 per lot, with all utilities in place and ready to be connected to the individual homeowners.
Should a buyer want to buy the Park in its current condition, and then proceed to complete the subdivision, the current owner would entertain a partnership to complete the project.
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Sunday, September 5, 2010
Just Listed Mobile Home Park in Clear Lake, CA
Just listed at $899,000…..beautiful lake front mobile home-RV park right on Clear Lake. Amenities include a dock, fishing platform, boat launch, beach, coin laundry, group showers. Also includes 3 cottages, and a 3/2 home rented all year round….and the owners home, a 3/2 lovely home right on the water. This is clean and neat mobile home park with mature trees, and located right next to the upscale World Mark Resort on Clear Lake. Park is actually located in Nice, CA…which is at the north end of Clearlake, and right on Highway 20. Clear Lake can be reached from Interstate 5 using Highway 20, or through the Napa Valley from the south or directly from Highway 101 on the Coast. This area is a Resort area and retirement area, but the park is a year round park with permanent residents. For details, financials, photos, etc…. e-mail to ronlargent@shasta.com or see www.ronlargent.com
Monday, August 30, 2010
Self Storage for Sale in Redding, CA Area
Just reduced, and now a very good buy at $230,000. This is a 170 unit complex in the Marysville, CA area…..is in very good condition, and with some management assistance can make a very good profit. This is a below market price for this good location facility. Apartment and upscale security system, and other extras. E-mail for details ronlargent@KW.com www.ronlargent.com
Saturday, August 28, 2010
River Bend Golf Course for sale in Redding, CA
About a week ago we announced the new listing of the River Bend Golf and Country Club located along the Sacramento River in Redding, CA in Northern California. We have had some initial interest, but some basic questions have come up from prospects, so thought I would explain the course and the club as I see it. First, we are offering the Course at $1,500,000, and we are hoping for new financing, but all offers will be considered. Secondly, this is called an “executive course”, meaning that it is a shorter course, and being 9 holes, can be played in a few hours, versus a big part of the day. Thirdly, it was initially designed to be used by the surrounding neighborhood and was thought of as a semi-private Club. It is now a public golf course and is available to all interested golfers. The Club House has a small but very functional pro shop and a restaurant that can handle small banquet functions. Over the years, the restaurant has served breakfast, lunch, and dinners….so is a fully functional and operational kitchen. Fourth, does it make money? As with all businesses, management, economy conditions, and the specific nature of the business are all factors in the degree of success of a business. So it is with this Club. Times have been very good and not so good, as is the US economy today. In terms of specifics, there are areas that profit could be increased, such as with the Cart rentals, the restaurant operation, and the numbers of users. Is there an upside to this business….most certainly. Golf is here to stay, and this course is ideally located not only in one of the most desirable locations in the North State but in relation to Redding and Anderson and Interstate 5. It is easy to get to. Would I buy it? Absolutely, if ……(1) I was a golfer (2) if… I had an interest in buying a business that I could grow, (3) if…I was a golfer and retired and had the money to buy a course that I could play on as desired, write off expenses as a typical business, and know that I would have a business of the future that I could pass on to others, and (4) if…I was younger and could market to the growing younger golfers, which I see as a real key to the ultimate success of this kind of course. Golf, with the continuing emphasis in the schools, will continue to grow in popularity among a larger percentage of the population, and a smaller course like River Bend will always have a draw.
So, if you fit any of the above, please contact me e-mail is ronlargent@kw.com or the website is www.ronlargent.com
So, if you fit any of the above, please contact me e-mail is ronlargent@kw.com or the website is www.ronlargent.com
Football Season is Off and Running....
Well, week 1 for local high school football is history, as two Redding area teams traveled to face historically strong teams. Shasta traveled to Lassen, and the strong Susanville team was too much for the smaller Wolves, defeating Shasta 24 to 3. Foothill played Dixon in the San Joaquin league, and showed that they will be a local football force to be dealt with, winning 34 to 6 in an impressive show of offensive power. Running back ran for 3 touchdowns and Zach Ray passed for 2…a good night for the Foothill Cougars from Palo Cedro.
Am I surprised with these results? No, the pre-season high school football rankings from Maxpreps.com has Lassen #1 in Division II, followed by Anderson #4, West Valley #5, and Central Valley #7. Next week our Game of the Week will pit Shasta versus West Valley, so we will see how accurate the rankings are. In Division I, Enterprise is ranked #2 behind Paradise with Pleasant Valley #3 and Shasta #4. Foothill is #5 with Red Bluff #7.
So, from this first week, my take is that Foothill will move up ahead of Shasta, in that Dixon is coming off a great season last year and is considered a contender this year, and Lassen will remain as the frontrunner in Division II, and next week we will see if West Valley can move up.
As with all pre-season polls, and I will be commenting on the Pac 10, there are still many unknowns about a team, especially at the high school level. Stay tuned as the coming weeks will get us into the thick of the competition, and it should be a great season. And, listen in next Friday on the Fox Sports Network, AM 1670, in the North State, as we bring the High School Game of the Week.
To add your comments…e-mail me at ronlargent@yahoo.com www.ronlargent.com
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Am I surprised with these results? No, the pre-season high school football rankings from Maxpreps.com has Lassen #1 in Division II, followed by Anderson #4, West Valley #5, and Central Valley #7. Next week our Game of the Week will pit Shasta versus West Valley, so we will see how accurate the rankings are. In Division I, Enterprise is ranked #2 behind Paradise with Pleasant Valley #3 and Shasta #4. Foothill is #5 with Red Bluff #7.
So, from this first week, my take is that Foothill will move up ahead of Shasta, in that Dixon is coming off a great season last year and is considered a contender this year, and Lassen will remain as the frontrunner in Division II, and next week we will see if West Valley can move up.
As with all pre-season polls, and I will be commenting on the Pac 10, there are still many unknowns about a team, especially at the high school level. Stay tuned as the coming weeks will get us into the thick of the competition, and it should be a great season. And, listen in next Friday on the Fox Sports Network, AM 1670, in the North State, as we bring the High School Game of the Week.
To add your comments…e-mail me at ronlargent@yahoo.com www.ronlargent.com
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Possibly related posts: (automatically generated)
Friday, August 27, 2010
Apartments for sale in Redding, CA
Right now is a very good time to buy investment property. Financing is very much available to qualified buyers at a low interest rates, and lenders are looking very favorably at properties that show stability, good cash flow, and a good future. The nice thing about buying the larger apartment complexes is economy of scale. A good manager can manage a 24 unit complex, as well as a 60 unit. Common utilities are not increased to a great degree when you double the number of units, especially if all of the units are individually metered. To this end, there are a number of good buys right here in the Redding area, and if you travel a little south, even better deals can be made in some parts of Sacramento and even Stockton. Look at this one that we just listed here in Redding:
Great Income property. 34 units consists of two four-plex’s, one 5 plex, one 6
& one duplex. Completely rebuilt in 1995. Rents range from $465.00- $700.00 per month. Near new city hall, library & new single family subdivision. Great buy at this price.
Need we say more….so if you are looking, give us a call at 530-248-5601 or e-mail ronlargent@kw.com or see my site at www.ronlargent.com
Great Income property. 34 units consists of two four-plex’s, one 5 plex, one 6
& one duplex. Completely rebuilt in 1995. Rents range from $465.00- $700.00 per month. Near new city hall, library & new single family subdivision. Great buy at this price.
Need we say more….so if you are looking, give us a call at 530-248-5601 or e-mail ronlargent@kw.com or see my site at www.ronlargent.com
Gas Station for sale in Redding, CA
Just listed the Atlantis Gas Station on Hilltop at Mistletoe in Redding, CA. $1.200,000, and this includes the real estate at this valuable corner opposite the Holiday Inn and Marie Callendars. This is a former Shell station, and is ideally located on busy Hilltop just off of Cypress Ave and the Hilltop exit from Interstate 5. The station has a smoke shop in part of the building, along with a large convenience store. The corner location gives access from both Hilltop and Mistletoe, and is just a block from busy Churn Creek Road.
ronlargent@kw.com wwww.ronlargent.com
ronlargent@kw.com wwww.ronlargent.com
Thursday, August 26, 2010
Chevron Gas Station for Sale in Redding, ca
Just listed the very popular and busy Cypress Chevron at Hilltop and Chevron at the main exit from I 5 to Redding, CA. This is a very attractive station in the best location….opposite 76 and Valero and adjacent to the extensive Hilltop Drive restaurant and hotel area, including the K-Mart Center, McDonald’s, Burger King, and a myriad of other eating establishments. I 5 traffic at this intersection is above 70,000 cars a day, and many exit for Redding at the Cypress Ave. exit. Huge gasoline volume and good inside sales. Offered at $425,000, includes the business and improvements but not the real estate, but a great lease. For info, financials, details, etc….www.ronlargent.com or e-mail ronlargent@kw.com
Sunday, August 22, 2010
Now is the time to buy apartments in Redding and the North State
Did you know? There are 47 apartment buildings currently on the market, from $220,000 up to $2,900,000, in Redding, Anderson, and the North State…and good financing is available to qualified buyers. In the North State, for example in Chico, not far from Chico State and opposite Bidwell Park, there is a 48 unit listed at $3,995,000 with a 7 cap. If you go down the Central Valley a bit, there is a complex in Oroville with a 13% cap, and a little further south, a 9.2% cap in Fairfield and a 12.7% cap in Modesto. And, we have Bank Owned apartment complexes, such as in Merced, where there is a 52 unit availble at $1,200,000.
All of this is to say that, with good financing and plenty of it available, this is the time to look for an apartment complex as one of the best investment products on the market. If you are looking for something less than 5 units, we have them from a duplex at $95,000 up….take your pick.
For a complete list of available properties in the North State, including Redding, Chico, the I-80 corridor, and Sacramento south, e-mail me with your specific requirements. Through our network and association with other commercial agents, we have plenty available. e-mail to ronlargent@kw.com and visit our site at www.ronlargent.com
All of this is to say that, with good financing and plenty of it available, this is the time to look for an apartment complex as one of the best investment products on the market. If you are looking for something less than 5 units, we have them from a duplex at $95,000 up….take your pick.
For a complete list of available properties in the North State, including Redding, Chico, the I-80 corridor, and Sacramento south, e-mail me with your specific requirements. Through our network and association with other commercial agents, we have plenty available. e-mail to ronlargent@kw.com and visit our site at www.ronlargent.com
Thursday, August 19, 2010
Golf Course for sale in Redding,CA
Earlier today, David Benda wrote the lead article in the Record Searchlight about the River Bend Golf and Country Club being for sale…I had put it on my blog when we listed it…but here is some background from David. We have it listed at $1,500,000…and any questions, or if you know a buyer, please let us know by e-mail to ronlargent@kw.com www.ronlargent.com
Here is the article for your info…
A Redding golf course that city officials once considered buying is in default.
But the owners of River Bend Golf and Country club hope they can sell the semiprivate course, which is being listed at $1.5 million, before it goes to a foreclosure auction.
Regardless, co-owner Dan Kowall is confident that the course will stay open. River Bend is off Indianwood Drive north of South Bonnyview Road.
Steve Miraglia, who holds the second note on the property, has decided to foreclose on River Bend, Kowall said.
“I knew it was coming,” Kowall said, who owns the course with his wife, Sandy. “We got to the point where there was just not enough money coming in to support the debt.”
Debt on the second loan is about $800,000. The Kowalls owe about $210,000 on the first note, which they said Miraglia recently purchased from Tri Counties Bank.
Miraglia could not be reached for comment.
“If it goes to sale, and there is not a good offer, Steve’s plans are most likely to keep it running as a golf course, and he may even hire us to run it for him,” Dan Kowall said.
Kowall met with club members and surrounding homeowners last week to talk about the situation and reassure everybody that the course is not closing.
The ideal scenario is for somebody to purchase the course for $1.5 million, which Dan Kowall said would cover the loan debt and some outstanding accounts payable.
Two years ago, city officials floated the idea of buying the course, which is surrounded by the River Bend subdivision, and turning it into a public park.
At the time, the city said it could pay between $1 million and $2 million for the golf course. But the economic downturn and its grave impact on the city’s finances nixed the idea.
The proposal also upset homeowners in the area.
Kim Niemer, the city’s community services director, spoke to Dan Kowall last week.
“Dan did call me and he gave me an update,” Niemer said. “He was kind of keeping me in the loop of what was going on. I don’t think he had any expectation that we would be a potential buyer at this point.”
Niemer reiterated Wednesday that the city is not interested in buying the course.
“At this point, our (financial) position is worse,” Niemer said.
Ironically, guest play at River Bend is up since the course started allowing public play this year.
But club memberships have fallen significantly from a peak of 400 earlier in the decade to about 150 today.
Kowall blames the economy and two failed attempts to sell the club in 2004 and 2005 for the drop-off in memberships.
“So now we are back to the point where we still have private memberships but not enough support, so basically we are allowing outside play,” Kowall said. “We are doing fine. The problem is when you have $1 million in debt to carry over every year.”
River Bend member Tom Poulson said he wishes the Kowalls well.
Poulson has been a member since the course opened in 1991.
“I hope it continues to be a golf course — I think it will,” said Poulson, who owns the Post Office Saloon & Grill in downtown Redding. “I don’t know what else it could be, to tell you the truth.”
Several years ago, the Redding Rancheria was interested in buying the golf course.
Rancheria CEO Tracy Edwards said Wednesday that she was not aware the course was in default.
“We had talked and had some discussion about buying it and it just didn’t come to fruition,” Edwards said of the tribe’s interest years ago.
So, now one knows “the whole story”, and how the economy has effected businesses across the board…even the golf business.
Here is the article for your info…
A Redding golf course that city officials once considered buying is in default.
But the owners of River Bend Golf and Country club hope they can sell the semiprivate course, which is being listed at $1.5 million, before it goes to a foreclosure auction.
Regardless, co-owner Dan Kowall is confident that the course will stay open. River Bend is off Indianwood Drive north of South Bonnyview Road.
Steve Miraglia, who holds the second note on the property, has decided to foreclose on River Bend, Kowall said.
“I knew it was coming,” Kowall said, who owns the course with his wife, Sandy. “We got to the point where there was just not enough money coming in to support the debt.”
Debt on the second loan is about $800,000. The Kowalls owe about $210,000 on the first note, which they said Miraglia recently purchased from Tri Counties Bank.
Miraglia could not be reached for comment.
“If it goes to sale, and there is not a good offer, Steve’s plans are most likely to keep it running as a golf course, and he may even hire us to run it for him,” Dan Kowall said.
Kowall met with club members and surrounding homeowners last week to talk about the situation and reassure everybody that the course is not closing.
The ideal scenario is for somebody to purchase the course for $1.5 million, which Dan Kowall said would cover the loan debt and some outstanding accounts payable.
Two years ago, city officials floated the idea of buying the course, which is surrounded by the River Bend subdivision, and turning it into a public park.
At the time, the city said it could pay between $1 million and $2 million for the golf course. But the economic downturn and its grave impact on the city’s finances nixed the idea.
The proposal also upset homeowners in the area.
Kim Niemer, the city’s community services director, spoke to Dan Kowall last week.
“Dan did call me and he gave me an update,” Niemer said. “He was kind of keeping me in the loop of what was going on. I don’t think he had any expectation that we would be a potential buyer at this point.”
Niemer reiterated Wednesday that the city is not interested in buying the course.
“At this point, our (financial) position is worse,” Niemer said.
Ironically, guest play at River Bend is up since the course started allowing public play this year.
But club memberships have fallen significantly from a peak of 400 earlier in the decade to about 150 today.
Kowall blames the economy and two failed attempts to sell the club in 2004 and 2005 for the drop-off in memberships.
“So now we are back to the point where we still have private memberships but not enough support, so basically we are allowing outside play,” Kowall said. “We are doing fine. The problem is when you have $1 million in debt to carry over every year.”
River Bend member Tom Poulson said he wishes the Kowalls well.
Poulson has been a member since the course opened in 1991.
“I hope it continues to be a golf course — I think it will,” said Poulson, who owns the Post Office Saloon & Grill in downtown Redding. “I don’t know what else it could be, to tell you the truth.”
Several years ago, the Redding Rancheria was interested in buying the golf course.
Rancheria CEO Tracy Edwards said Wednesday that she was not aware the course was in default.
“We had talked and had some discussion about buying it and it just didn’t come to fruition,” Edwards said of the tribe’s interest years ago.
So, now one knows “the whole story”, and how the economy has effected businesses across the board…even the golf business.
Tuesday, August 17, 2010
River Bend Golf Course for sale in Redding, CA
We have just put on the market the River Bend Golf and Country Club in Redding, CA located right on the banks of the Sacramento River; is a 9 hole executive style golf course; a short and level 32 par course; and includes an upscale restaurant, pro shop,and netted area for warm up.
This is being offered at $1,500,000….and for details, financials, etc contact me at ronlargent@kw.com
530-248-5601 or go to www.ronlargent.com and click on blog
This is being offered at $1,500,000….and for details, financials, etc contact me at ronlargent@kw.com
530-248-5601 or go to www.ronlargent.com and click on blog
Saturday, August 14, 2010
Foreclosure Investor Services.com
If you have been thinking about investing in foreclosed homes, here is an opportunity. We have formed Foreclosure Investor Services to assist investors that are interested in buying homes that are being sold at the “Court House Steps”. We assist investors in purchasing homes in Shasta and Tehama counties in Northern California.
We represent a number of investors, but are looking to add additional investors, in that we are buying homes regularly every week. We use our experience and expertise to totally check out the properties being auctioned, and convey this property condition to the investor. Collectively we agree on the price to be paid at auction, and we go from there.
We buy the bank owned property right….due what is necessary to get the acquired property to market condition, and put it “on the market”. Our advice and follow through are bringing from 25-40% return on the initial investment over a period of 90-150 days. …making this one of the best investments in this “down economy”.
For details, please e-mail for a brief description of the program; how it works; what we expect from the investor and what the investor can expect from us; and minimum investor dollar commitment. This is a time-tested program; no gimmicks; and the investor remains in the control position at all times.
Contact us for details: ronlargent@kw.com www.ronlargent.com
We represent a number of investors, but are looking to add additional investors, in that we are buying homes regularly every week. We use our experience and expertise to totally check out the properties being auctioned, and convey this property condition to the investor. Collectively we agree on the price to be paid at auction, and we go from there.
We buy the bank owned property right….due what is necessary to get the acquired property to market condition, and put it “on the market”. Our advice and follow through are bringing from 25-40% return on the initial investment over a period of 90-150 days. …making this one of the best investments in this “down economy”.
For details, please e-mail for a brief description of the program; how it works; what we expect from the investor and what the investor can expect from us; and minimum investor dollar commitment. This is a time-tested program; no gimmicks; and the investor remains in the control position at all times.
Contact us for details: ronlargent@kw.com www.ronlargent.com
Tuesday, August 3, 2010
Foreclosure Investor Services.com
In the next few years, we will see the numbers of foreclosed homes increase significantly in the continuing housing downturn. A number of factors have caused the current situation, but the reality is that many homes that were purchased in the past 5 years will go to foreclosure.
As this situation developed, some of our clients came to us and said they would like to buy a foreclosed home and could we help them. This request resulted in The Largent Team developing a service that involved a pre-sale evaluation of the subject property; a detailed analysis of the immediate area market conditions; and a projection of needed expenses prior to re-selling the home on the open market. We then represented the investor at the public auction, following the clients guidelines as to how much would be paid for the foreclosed home.
This program has been very succesful for a number of investors, and we have made the decision to add additional investors that have an interest in buying foreclosed homes. The investment return has been very good, and the risk is kept to a minimum due to the investigation and due diligence in property evaluation conducted by our staff in advance of the Court House auction.
If you are looking to invest in foreclosed homes, please e-mail me for a detailed breakdown of the Service, where these questions will be addressed: What is the Service? How does it work in detail? What kind of investors are we looking for? How much will be needed for the initial investment? What is the risk?
This is a good opportunity for real estate investors…please e-mail us for details.
ronlargent@kw.com www.ronlargent.com
As this situation developed, some of our clients came to us and said they would like to buy a foreclosed home and could we help them. This request resulted in The Largent Team developing a service that involved a pre-sale evaluation of the subject property; a detailed analysis of the immediate area market conditions; and a projection of needed expenses prior to re-selling the home on the open market. We then represented the investor at the public auction, following the clients guidelines as to how much would be paid for the foreclosed home.
This program has been very succesful for a number of investors, and we have made the decision to add additional investors that have an interest in buying foreclosed homes. The investment return has been very good, and the risk is kept to a minimum due to the investigation and due diligence in property evaluation conducted by our staff in advance of the Court House auction.
If you are looking to invest in foreclosed homes, please e-mail me for a detailed breakdown of the Service, where these questions will be addressed: What is the Service? How does it work in detail? What kind of investors are we looking for? How much will be needed for the initial investment? What is the risk?
This is a good opportunity for real estate investors…please e-mail us for details.
ronlargent@kw.com www.ronlargent.com
Thursday, July 29, 2010
Commercial Real Estate and the New Laws
This week I received the CoStar Report and one paragraph caught my attention…as buyers and sellers have asked me recently what will be the effect on commercial real estate transactions….this kind of sums it up:
To address risky lending practices, banks will be required to set aside additional capital to cover potential losses, and certain securities will no longer be acceptable as vehicles for capital reserves held by large banks. Banks also will be required to retain at least 5% of a loan on their books as “skin in the game” if the loan is sold and/or repackaged with other loans and securitized. Some relatively low-risk mortgages — for example, fully documented loans with fixed interest rates — are exempted under the law.
So, sellers must be prepared to present all appropriate financial info on the property being sold, and buyers prior investment record will be looked at closely…..just a sign of the times for all.
www.ronlargent.com ronlargent@kw.com
To address risky lending practices, banks will be required to set aside additional capital to cover potential losses, and certain securities will no longer be acceptable as vehicles for capital reserves held by large banks. Banks also will be required to retain at least 5% of a loan on their books as “skin in the game” if the loan is sold and/or repackaged with other loans and securitized. Some relatively low-risk mortgages — for example, fully documented loans with fixed interest rates — are exempted under the law.
So, sellers must be prepared to present all appropriate financial info on the property being sold, and buyers prior investment record will be looked at closely…..just a sign of the times for all.
www.ronlargent.com ronlargent@kw.com
Tuesday, July 27, 2010
Branded Gas Stations for Sale
If you have been thinking about buying a gas station with convenience store, in that gas for cars is not going to go away…regardless of what is being done on alternative fuels, at least for awhile….we have just listed a nice group of branded gas stations, including Shell, Valero, 76, and Chevron. We have them along Interstate 5 (I5), as well as in the more rural areas, like Burney and Fall River Mills, and major cities like Chico and Oroville..and of course the the metro areas of Sacramento and Tracy.
Depending on the inside sales and the gallons sold, prices range from $500,000 up to $5 million….and the location is critical…so give us a call or e-mail. We will get you a list of stations, with photos, and financial info….and visit us on the web at www.ronlargent.com e-mail to: ronlargent@kw.com
Depending on the inside sales and the gallons sold, prices range from $500,000 up to $5 million….and the location is critical…so give us a call or e-mail. We will get you a list of stations, with photos, and financial info….and visit us on the web at www.ronlargent.com e-mail to: ronlargent@kw.com
Thursday, July 22, 2010
Pio Loco Restaurant in Redding For Sale
Just listed the Pio Loco Restaurant in Redding....see it at www.ronlargent.com/featured and it is listed at $175,000. E-mail for details, financials, etc....Gorgeous restaurant and a favorite of many....in historic Pine Street School downtown. Owner retiring.
Thursday, July 15, 2010
Now May Be The Time To Buy Commercial Real Estate
Over the past few days I have had a chance to look at commercial properties that are currently on the market, and there are some good buys out there. Specifically, I looked at mobile home parks, self storage properties, and gas stations…the 3 areas of my specialization, and there are some good commercial real estate deals to be made in each of these areas. Geographically, I coverd the Sacramento, Stockton, and Tracy areas, as well as north along I 5 to Redding. I saw a very nice seniors MHP in great condition and location; two very nice upscale mini storage facilities; and then two very busy branded stations along I5. Very impressive.
So, if this is an area that is of interest to you, and you are looking for a good return on your investment, send me an e-mail for details, photos, financials, etc…..
Now may be the best time to buy an income producting investment property.
ronlargent@kw.com www.ronlargent.com
So, if this is an area that is of interest to you, and you are looking for a good return on your investment, send me an e-mail for details, photos, financials, etc…..
Now may be the best time to buy an income producting investment property.
ronlargent@kw.com www.ronlargent.com
Sunday, July 11, 2010
Did You Know? About Redding Commercial Property
Did you know? In Redding proper, today, not including the County, we have 35 commercial category properties for sale from $500,000 to the top, which is $1,850,000. Some of these are very good deals, for they were financed back 3-5 years ago, and they have not been able to maintain the income that was needed. Some are selling considerabily below what was paid.
The return will vary, from an 8.7% cap on a mobile home park to a 6.5% cap on an apartment building or an office building.
So, if you are in the market for a good buy in commercial property, give us a call. The Largent Cmmercial Group is here to get you a good buy, or to help you sell in this market.
www.ronlargent.com ronlargent@kw.com
The return will vary, from an 8.7% cap on a mobile home park to a 6.5% cap on an apartment building or an office building.
So, if you are in the market for a good buy in commercial property, give us a call. The Largent Cmmercial Group is here to get you a good buy, or to help you sell in this market.
www.ronlargent.com ronlargent@kw.com
Commercial Trading Post.com
After thinking about this for a number of years, we decided to do it. Do What? Put together a national referral network for commercial real estate buyers, and we are calling it www.commercialtradingpost.com The purpose of this site will be to give buyers a chance to look at properties all over the country by geographical area and by property category and then be connected directly to the listing broker to get all of the details. It is a win-win for all, in that the buyers can get questions answered quickly; brokers can obtain qualified buyers; and sellers can sell their property. The network is funded by referral fees paid at the close of escrow, and brokers nationwide are being invited to put their listings on the site at no charge. With every 10 listings, the listing broker will get a free banner ad for 30 days. The goal is to get listings in front of potential buyers; give these buyers a chance to find out all of the details about the property; and to get the property sold to the right buyer.
Brokers can contact me at ronlargent@kw.com for details, and the input form for their listings…or call at 530-248-5601.
Brokers can contact me at ronlargent@kw.com for details, and the input form for their listings…or call at 530-248-5601.
Saturday, July 10, 2010
Commercia Real Estate-Property in Redding Area
We just got the new numbers in for the Bixby Knolls Mobile Home Park in Anderson just south of Redding, CA...and we are showing an 8.7% cap, which is an excellent investment cap for these times. The park is older but very stable and a great record of rents. Community water is an advantage to this rural area....and it is a money maker.
To get more details, go to www.ronlargent.com or you can see a video of the park on youtube.com/ronlargentcommercial
E-mail me with questions at ronlargent@kw.com
To get more details, go to www.ronlargent.com or you can see a video of the park on youtube.com/ronlargentcommercial
E-mail me with questions at ronlargent@kw.com
Friday, June 25, 2010
Buy a Mobile Home Park in Redding, CA
Buy A Mobile Home Park in Redding or Shasta County, CA (edit/delete)
We have two excellent mobile home parks listed in the Redding area...both are older and stable and money makers in great locations. One park is near Shasta Lake and the other is in historic Old Shasta, both within 20 minutes of downtown Redding in Northern California.
The Old Shasta park has 28 spaces plus a duples with good rents; gross income of over $120,000; no park owned mobiles; strong cap rate, and excellent condition in rural setting at the foothills of the Trinity Mtns.
The Lake Shasta area park is newer, very stable, in a great convenient location, with a very good cap rate and return.
Both parks have just dropped their price, so this is the time, as these are recession resistant. Act now and make a good deal...a win win for all.
Both listed just above $1,000,000 and financing is available to qualified buyers.
www.ronlargent.com ronlargent@kw.com
Monday, June 7, 2010
My Position on Unions
Unions and Trade Associations
Many of our fellow friends and local employees belong to state and local unions that support our local communities. I was recently challenged by an individual that my views were “Anti-Union”. Here’s my position on this topic:
The argument over the pros and cons of labor unions has been a popular platform for political parties since the unionization boom that occurred during the progressive era of the 1920’s. While the nature and use of unions has changed dramatically since the earliest inceptions of collective bargaining and fighting for safety in the workplace, there is still an incredible amount of differing opinion for and against these workers’ organizations.
There are many points which are arguable pros for the use of labor unions. In their most basic form, unions allow employees to band together to negotiate for better wages and benefits, and to make sure that everyone is being treated fairly by the employer. They even help protect minorities, and other subordinated groups, from being wrongfully fired.
But, some would say that today’s unions push wages to unreasonable, above-market levels that are unrealistic for corporations to grant. This hostile environment can often lead to a stalemate in which both parties find themselves unhappy with the resolution.
Another positive aspect of labor unions is that they give employees an opportunity to become a more cohesive community. Organizing puts the minds of employees towards fighting for the greater good of the employee base at large, instead of for indi-vidual gain. This encourages teamwork and cooperation.
However, dissenters would argue that through this collective voice, unions pit employees against employers in a way that is counterproductive to working successfully together and finishing a job to the highest standards of quality. Some even suggest it creates an “us and them” mentality which breeds distrust of management by employees and vice versa.
The office of Assessor-Recorder is one voice for all people whether belonging to a union or not. I will continue to work with business owners and union officials to find ways that represent a fair and reasonable solution that impacts property assessments and public opinion. Although the incumbent has a strong presence in union affairs, I find it extremely important to remain a neutral mediator in business decisions that impact our economy.
I hope this has clarified my views on this important topic and welcome any thoughts or comments you may have.
Sincerely,
Ron Largent
Ron Largent – Candidate for Shasta County Assessor-Recorder
Many of our fellow friends and local employees belong to state and local unions that support our local communities. I was recently challenged by an individual that my views were “Anti-Union”. Here’s my position on this topic:
The argument over the pros and cons of labor unions has been a popular platform for political parties since the unionization boom that occurred during the progressive era of the 1920’s. While the nature and use of unions has changed dramatically since the earliest inceptions of collective bargaining and fighting for safety in the workplace, there is still an incredible amount of differing opinion for and against these workers’ organizations.
There are many points which are arguable pros for the use of labor unions. In their most basic form, unions allow employees to band together to negotiate for better wages and benefits, and to make sure that everyone is being treated fairly by the employer. They even help protect minorities, and other subordinated groups, from being wrongfully fired.
But, some would say that today’s unions push wages to unreasonable, above-market levels that are unrealistic for corporations to grant. This hostile environment can often lead to a stalemate in which both parties find themselves unhappy with the resolution.
Another positive aspect of labor unions is that they give employees an opportunity to become a more cohesive community. Organizing puts the minds of employees towards fighting for the greater good of the employee base at large, instead of for indi-vidual gain. This encourages teamwork and cooperation.
However, dissenters would argue that through this collective voice, unions pit employees against employers in a way that is counterproductive to working successfully together and finishing a job to the highest standards of quality. Some even suggest it creates an “us and them” mentality which breeds distrust of management by employees and vice versa.
The office of Assessor-Recorder is one voice for all people whether belonging to a union or not. I will continue to work with business owners and union officials to find ways that represent a fair and reasonable solution that impacts property assessments and public opinion. Although the incumbent has a strong presence in union affairs, I find it extremely important to remain a neutral mediator in business decisions that impact our economy.
I hope this has clarified my views on this important topic and welcome any thoughts or comments you may have.
Sincerely,
Ron Largent
Ron Largent – Candidate for Shasta County Assessor-Recorder
Saturday, June 5, 2010
Who Saved Who Money...What is wrong with this picture?
Today, at the Mall where I was talking with “folks on the street”, one taxpayer started in about the incumbent’s claim that “she saved the taxpayers $16.5 million” over the last few years by applying Prop 8. “Total non-sense” is what he called it, and asked my opinion. I agree. After taxpayers had paid more money than was required of them under Prop 8 for a period of 2 to 3, or more years, the incumbent Assessor decided to reduce their assessment, as required by law on January 1 of each year due to the downturn in the housing market, and then reduced their property tax to where it should have been for the 2 to 3 years previously….and called this “saving the taxpayer money”. Any way you look at this, this is merely reducing what they will be paying in the future….and not refunding to the taxpayer what they have already over paid….no way is this “saving the taxpayer money”. This is government “gobbledegook” if I have ever heard it…and this has been stated publicly in my presence on numerous occasions, as well as on Public Radio. Since when is it saved after taxpayers have paid it, and then reducing the tax amount that they should have never paid? A significant refund to each taxpayer that had overpaid would be more like it, and that never happened.
I have stated in my public appearances as well as in my printed material and on the website that upon taking office I will institute a plan to bring all that are eligible for Proposition 8 enrollment into Prop 8. This will take a different kind of leadership than has been exhbited the past 3 years, and we will have outstanding results. Our goal will be to make property assessment and the property taxes consistent with market value, which is the goal of Prop 8.
To state “I have saved taxpayers money” that they have already paid to the County, is not my concept of a good savings program. The County is not my “bank for saving money”. I will see that taxpayers are paying only as much as the Prop 8 reassessment calls for, which in essence will be reducing their property taxes. And, as appropriate, some may be entitled to recover part of what they have already paid. I, for one, would not mind if my taxes were reduced three or four hundred dollars, or more, a year. How about you, the taxpayers? Not such a bad idea
I have stated in my public appearances as well as in my printed material and on the website that upon taking office I will institute a plan to bring all that are eligible for Proposition 8 enrollment into Prop 8. This will take a different kind of leadership than has been exhbited the past 3 years, and we will have outstanding results. Our goal will be to make property assessment and the property taxes consistent with market value, which is the goal of Prop 8.
To state “I have saved taxpayers money” that they have already paid to the County, is not my concept of a good savings program. The County is not my “bank for saving money”. I will see that taxpayers are paying only as much as the Prop 8 reassessment calls for, which in essence will be reducing their property taxes. And, as appropriate, some may be entitled to recover part of what they have already paid. I, for one, would not mind if my taxes were reduced three or four hundred dollars, or more, a year. How about you, the taxpayers? Not such a bad idea
Friday, June 4, 2010
Facts are Facts About Shasta Housing Market
Earlier today I was challenged by a citizen that is obviously supporting my opponent. I was accused of using “scare tactics” early in my campaign by saying the housing market was going to continue to go down and that the resulting loss of value would reduce the tax revenue to Shasta County. He said I had “lied to the public” to get their attention. This was the “straw”, and I referred back a few weeks to the Record Searchlight article that follows, but he would not hear it. I am the guilty one. Well, here is the article, and you can be the judge. Did the market continue to fall in 2010, or is it static, as is claimed by my opponent, and the critic today?
“Year-over-year home values in the greater Redding area fell for the 13th straight quarter, according to federal figures released Tuesday.
The Federal Housing Finance Agency all-transaction house price index showed that values in the region that includes Redding, Anderson and Shasta Lake dropped 12.82 percent in the first quarter of 2010 compared with the same three-month period a year ago.
Values in Redding in the first quarter fell 4.1 percent compared with the previous quarter, and have plunged 16.17 percent over the last five years.
Nationally, home values fell 6.8 percent in the first quarter over the same quarter in 2009, and 1.6 percent compared with the previous quarter, the Federal Housing Finance Agency said.
The index gives estimates for 301 housing markets, tracking data from mortgages used for both home purchases and refinances. Because the source data is different, it provides a similar but distinct picture compared to that offered in the figures from MDA DataQuick.”
So, critics beware. My numbers are nationally published numbers. Every seminar that I have attended in the past two years has been saying this…so nothing is new here. The reality is fact in Shasta County, and home values will continue to go down as the bank owned properties continue to come on the market. Again, my critics are saying I do not know the market, and if the Assessor is to determine assessed values based on market values, as is required by Proposition 8 as a follow on to Proposition 13, then I think I have a sense of the market and where it is going. If the above is “static market”, as is claimed by the incumbent, then maybe this is why we need a change. Is there such a thing as “reality” in government thinking? Your call, as the voter on June 8th in Shasta County.
www.largent2010.com
“Year-over-year home values in the greater Redding area fell for the 13th straight quarter, according to federal figures released Tuesday.
The Federal Housing Finance Agency all-transaction house price index showed that values in the region that includes Redding, Anderson and Shasta Lake dropped 12.82 percent in the first quarter of 2010 compared with the same three-month period a year ago.
Values in Redding in the first quarter fell 4.1 percent compared with the previous quarter, and have plunged 16.17 percent over the last five years.
Nationally, home values fell 6.8 percent in the first quarter over the same quarter in 2009, and 1.6 percent compared with the previous quarter, the Federal Housing Finance Agency said.
The index gives estimates for 301 housing markets, tracking data from mortgages used for both home purchases and refinances. Because the source data is different, it provides a similar but distinct picture compared to that offered in the figures from MDA DataQuick.”
So, critics beware. My numbers are nationally published numbers. Every seminar that I have attended in the past two years has been saying this…so nothing is new here. The reality is fact in Shasta County, and home values will continue to go down as the bank owned properties continue to come on the market. Again, my critics are saying I do not know the market, and if the Assessor is to determine assessed values based on market values, as is required by Proposition 8 as a follow on to Proposition 13, then I think I have a sense of the market and where it is going. If the above is “static market”, as is claimed by the incumbent, then maybe this is why we need a change. Is there such a thing as “reality” in government thinking? Your call, as the voter on June 8th in Shasta County.
www.largent2010.com
Tuesday, June 1, 2010
Pros and Cons of a Local Campaign
As my campaign for Shasta County Assessor Recorder comes to an end with the election on June 8th....I have been asked on various occasions, "what are my impressions of the campaign and would I do it again?" Yes, I would do it again, as it has been a very interesting and worthwhile time and well worth the effort.
"What have been the good parts?" is usually the next question, along with the "not so good".
First, I have met thousands of very nice, respectful, courteous citizens from the mountains and valleys of Eastern Shasta County to the farmers and ranchers of the south county. They are very concerned about many issues, ranging from the national economy to the local Shasta County economy. They are very concerned about the changing moral and ethical concerns and values of our elected officials, and they are very concerned about the continuing challenges to our "quality of life" that we are able to experience here in the North State.
Secondly, the average person is very appreciative of the fact that I have made myself available to meet and visit with them. Some have complained that I am the first "politician" they have seen since the last election, and they are happy that I am meeting with them. The group meetings, such as the Candidate Nights have been worthwhile and informative, and pretty well attended by the citizenry in general, and, again, appreciated by the people in attendance.
The aspect of the campaign that I did not expect, due to the fact that I am not a "politician" but a businessman, is the constant "being watched by the media and the opponent". Rather than concentrating on the issues, it is as if they are looking at everything personal and are ready to attack. I have been able to stay on the issues, but this has not been the case in all of the races here locally. I have been disappointed with the lack of respect for personal property, in that many of my campaign signs have been stolen or destroyed, for this is a right that comes with running for a public office. Another "weird" part of the campaign is my being video-taped by the opposition as I talk to folks "on the street". I am told by counsel that this video tape cannot be put into a public media without permission, and furthermore what about how I talk to people is worth watching. Weird, for sure, and I don't think it is my "movie star looks", bald head and all.
In summary, we are very fortunate to live here in Shasta County. We have folks that, for the most part, are here by choice, and they want to keep things as good as they are now, and even better. They are very concerned about the future of education in California, as they are about the environment, and about immigration...but these are also national concerns. These are folks that do not want to see "bigger government", or a government that gets too restrictive or demanding or too much involved with private property rights. These are folks that question "why are we doing what we are doing?", and this is a healthy question for a society such as ours. These are folks that also question the issue of my campaign, "why are we taxed more for our property when the real estate market is going down?". Over assessment is over taxation...call it what you want.
Thanks for reading, and let's get out the vote on June 8th....it is our right, and privilege.
www.largent2010.com
"What have been the good parts?" is usually the next question, along with the "not so good".
First, I have met thousands of very nice, respectful, courteous citizens from the mountains and valleys of Eastern Shasta County to the farmers and ranchers of the south county. They are very concerned about many issues, ranging from the national economy to the local Shasta County economy. They are very concerned about the changing moral and ethical concerns and values of our elected officials, and they are very concerned about the continuing challenges to our "quality of life" that we are able to experience here in the North State.
Secondly, the average person is very appreciative of the fact that I have made myself available to meet and visit with them. Some have complained that I am the first "politician" they have seen since the last election, and they are happy that I am meeting with them. The group meetings, such as the Candidate Nights have been worthwhile and informative, and pretty well attended by the citizenry in general, and, again, appreciated by the people in attendance.
The aspect of the campaign that I did not expect, due to the fact that I am not a "politician" but a businessman, is the constant "being watched by the media and the opponent". Rather than concentrating on the issues, it is as if they are looking at everything personal and are ready to attack. I have been able to stay on the issues, but this has not been the case in all of the races here locally. I have been disappointed with the lack of respect for personal property, in that many of my campaign signs have been stolen or destroyed, for this is a right that comes with running for a public office. Another "weird" part of the campaign is my being video-taped by the opposition as I talk to folks "on the street". I am told by counsel that this video tape cannot be put into a public media without permission, and furthermore what about how I talk to people is worth watching. Weird, for sure, and I don't think it is my "movie star looks", bald head and all.
In summary, we are very fortunate to live here in Shasta County. We have folks that, for the most part, are here by choice, and they want to keep things as good as they are now, and even better. They are very concerned about the future of education in California, as they are about the environment, and about immigration...but these are also national concerns. These are folks that do not want to see "bigger government", or a government that gets too restrictive or demanding or too much involved with private property rights. These are folks that question "why are we doing what we are doing?", and this is a healthy question for a society such as ours. These are folks that also question the issue of my campaign, "why are we taxed more for our property when the real estate market is going down?". Over assessment is over taxation...call it what you want.
Thanks for reading, and let's get out the vote on June 8th....it is our right, and privilege.
www.largent2010.com
Saturday, May 29, 2010
Cost Cutting in Shasta County
Ways to Succeed by Cost Cutting Innovative Ideas in Shasta County
Early in my campaign, I made it known both verbally and in writing that one of the characteristics of my campaign platform was to, in an effort to be a true advocate for the taxpayer, look for ways that the county could save money in cost cutting ideas. From fleet management to inter office cooperation, I would look at the Assessor Recorder office in terms of efficiency and cost effectiveness..from the taxpayer and business owner point of view. I was ridiculed, being told that was not in the job description of the Assessor Recorder. Obviously, I disagreed. Today, the Sheriff made public a concept of joining with Redding Police as a way of cost cutting....exactly what I was saying, in terms of looking "outside the box" in these difficult times. The following is what appeared in the Record Searchlight today...so maybe we should all in county government think of new and innovative ways "to do business".
Shasta County Sheriff Tom Bosenko has asked top Redding officials to consider the idea of forming a metropolitan police department, multiple sources confirm.
The proposal surfaces less than a week after Redding Police Chief Peter Hansen announced he'll step down by the end of this year.
The city and county would look for ways to save money through combining elements of law enforcement to eliminate duplication of services, these sources say.
Larry Lees, Shasta County administrator, confirmed Friday afternoon that he's had brief conversations with Bosenko about proposing the idea of a metropolitan police department to Redding officials.
"(Bosenko) just mentioned it to me in passing, since we're always looking for opportunities to save money," Lees said. "He did not say whether he was for it or against it, but just wondering if he should bring it up. I don't think it's gone anywhere yet."
Bosenko has cited the Las Vegas Metropolitan Police Department as a possible money-saving model for Shasta County, Lees and other sources have said.
The Clark County sheriff is the top law enforcement officer in the city of Las Vegas and the unincorporated county under the metropolitan department, created in 1973.
Bosenko, Hansen and City Manager Kurt Starman did not immediately return phone calls Friday seeking comment.
The Redding Police Department and the Shasta County Sheriff's Office have seen drastic budget cuts and layoffs during the past two years as the worst recession in generations grinds on.
Since early 2008, the police department has eliminated its roster of community service officers and has suspended its DUI enforcement program and its neighborhood policing programs.
Twenty-five people have left the department through layoffs or attrition, and Redding police expect to lose 18 more by the end of the year.
The sheriff's office has closed a floor of the Shasta County jail, shuttered Crystal Creek Boys Camp and curtailed its work-release program, among other cuts. Sheriff's deputies - who already earn 20 percent less than Redding police officers on average - this year agreed to pick up 9 percent of their pension costs over time.
Redding police officers and Shasta County sheriff's deputies often work together. But the differences between the two agencies are fairly deep, starting with jurisdiction.
Redding police enforce the law within the limits of the city and work mainly in an urban or suburban environment. The sheriff's office patrols the unincorporated county - a mostly rural and rugged area substantially larger than the state of Delaware - along with the city of Shasta Lake, which is every bit as densely built as Redding.
It's not uncommon for sheriff's departments to provide police services to cities in California. Yucaipa, a fast-growing Southern California city of 57,000 people, contracts with the San Bernardino County Sheriff's Office for law enforcement within the city limits.
There is more to this story, which you can read in detail at www.redding.com ...but my point is made. As elected officers representing the taxpayer, we must be creative, and it takes a leader, like Tom Bosenko, and like I will be...to make these kind of recommendations. No more "same ol' stuff" when I am elected Shasta County Assessor Recorder on June 8th.
www.largent2010.com
Posted by Ron Largent on 05/29/2010 11:29 PM Comments (0) Ron Largent for Shasta County Assessor Recorder in the ActiveRain Channel ron largent for
Early in my campaign, I made it known both verbally and in writing that one of the characteristics of my campaign platform was to, in an effort to be a true advocate for the taxpayer, look for ways that the county could save money in cost cutting ideas. From fleet management to inter office cooperation, I would look at the Assessor Recorder office in terms of efficiency and cost effectiveness..from the taxpayer and business owner point of view. I was ridiculed, being told that was not in the job description of the Assessor Recorder. Obviously, I disagreed. Today, the Sheriff made public a concept of joining with Redding Police as a way of cost cutting....exactly what I was saying, in terms of looking "outside the box" in these difficult times. The following is what appeared in the Record Searchlight today...so maybe we should all in county government think of new and innovative ways "to do business".
Shasta County Sheriff Tom Bosenko has asked top Redding officials to consider the idea of forming a metropolitan police department, multiple sources confirm.
The proposal surfaces less than a week after Redding Police Chief Peter Hansen announced he'll step down by the end of this year.
The city and county would look for ways to save money through combining elements of law enforcement to eliminate duplication of services, these sources say.
Larry Lees, Shasta County administrator, confirmed Friday afternoon that he's had brief conversations with Bosenko about proposing the idea of a metropolitan police department to Redding officials.
"(Bosenko) just mentioned it to me in passing, since we're always looking for opportunities to save money," Lees said. "He did not say whether he was for it or against it, but just wondering if he should bring it up. I don't think it's gone anywhere yet."
Bosenko has cited the Las Vegas Metropolitan Police Department as a possible money-saving model for Shasta County, Lees and other sources have said.
The Clark County sheriff is the top law enforcement officer in the city of Las Vegas and the unincorporated county under the metropolitan department, created in 1973.
Bosenko, Hansen and City Manager Kurt Starman did not immediately return phone calls Friday seeking comment.
The Redding Police Department and the Shasta County Sheriff's Office have seen drastic budget cuts and layoffs during the past two years as the worst recession in generations grinds on.
Since early 2008, the police department has eliminated its roster of community service officers and has suspended its DUI enforcement program and its neighborhood policing programs.
Twenty-five people have left the department through layoffs or attrition, and Redding police expect to lose 18 more by the end of the year.
The sheriff's office has closed a floor of the Shasta County jail, shuttered Crystal Creek Boys Camp and curtailed its work-release program, among other cuts. Sheriff's deputies - who already earn 20 percent less than Redding police officers on average - this year agreed to pick up 9 percent of their pension costs over time.
Redding police officers and Shasta County sheriff's deputies often work together. But the differences between the two agencies are fairly deep, starting with jurisdiction.
Redding police enforce the law within the limits of the city and work mainly in an urban or suburban environment. The sheriff's office patrols the unincorporated county - a mostly rural and rugged area substantially larger than the state of Delaware - along with the city of Shasta Lake, which is every bit as densely built as Redding.
It's not uncommon for sheriff's departments to provide police services to cities in California. Yucaipa, a fast-growing Southern California city of 57,000 people, contracts with the San Bernardino County Sheriff's Office for law enforcement within the city limits.
There is more to this story, which you can read in detail at www.redding.com ...but my point is made. As elected officers representing the taxpayer, we must be creative, and it takes a leader, like Tom Bosenko, and like I will be...to make these kind of recommendations. No more "same ol' stuff" when I am elected Shasta County Assessor Recorder on June 8th.
www.largent2010.com
Posted by Ron Largent on 05/29/2010 11:29 PM Comments (0) Ron Largent for Shasta County Assessor Recorder in the ActiveRain Channel ron largent for
Friday, May 28, 2010
Housing in Redding CA
About a month ago, as part of my campaign for Shasta County Assessor Recorder, I met for my Editorial Interview with the Record Searchlight paper. As part of my prepared notes for the interview, I made it very clear that we are still in a downturn, and that County offices are going to find that the property tax revenue to the County was going to continue to go down in the next few years. Those of us in the real estate business are well aware of the fact that bank owned properties are increasing, causing home values to fall...which translates to lower comp appraisals...and lower home values.
This week, my prediction, which was treated very "unlikely" then, is coming true. The following is the essence of what was on the front page of the Record Searchlight this week:
Year-over-year home values in the greater Redding area fell for the 13th straight quarter, according to federal figures released Tuesday.
The Federal Housing Finance Agency all-transaction house price index showed that values in the region that includes Redding, Anderson and Shasta Lake dropped 12.82 percent in the first quarter of 2010 compared with the same three-month period a year ago.
Values in Redding in the first quarter fell 4.1 percent compared with the previous quarter, and have plunged 16.17 percent over the last five years.
Nationally, home values fell 6.8 percent in the first quarter over the same quarter in 2009, and 1.6 percent compared with the previous quarter, the Federal Housing Finance Agency said.
The index gives estimates for 301 housing markets, tracking data from mortgages used for both home purchases and refinances. Because the source data is different, it provides a similar but distinct picture compared to that offered in the figures from MDA DataQuick.
The Kennewick-Pasco-Richland area of eastern Washington, where home values went up 2.08 percent, topped the nation in appreciation in the first quarter of 2010.
Bend, Ore., held the dubious honor as the fastest-depreciating community as values in central Oregon plummeted 23.03 percent in the first quarter. It was the second consecutive quarter Bend topped the federal index in depreciation.
Year-over-year values in Redding started falling in the first quarter of 2007, when they slipped 1.58 percent, and have declined every quarter since, according to the federal index.
The median sales price for a home in Shasta County in April was $165,000, the sixth straight monthly decline, according to MDA DataQuick.
Redding experienced its greatest annual depreciation in the federal index during the fourth quarter of 2008, when values dropped 14.62 percent.
Foreclosures will continue to put downward pressure on real estate values, Redding realtor Curt Largent said during his weekly radio program last Saturday.
The Federal Housing Finance Agency's quarterly index cast the national spotlight on Redding seven years ago as the fastest-appreciating housing market in the nation. Prices in Redding during the first quarter of 2003 jumped 16.3 percent.
Year-over-year appreciation in Redding peaked during the third quarter of 2004 when the federal index reported prices jumped 26 percent.
But in a sign of how crazy the U.S. market was in 2004, Redding couldn't even crack the top 10 with that 26-percent leap. Redding was the 15th fastest-appreciating market that quarter.
Las Vegas (42 percent) ranked first in appreciation in the fall of 2004.
By contrast, values in Las Vegas dived 18.99 percent in the latest index, ranking the gambling capital as the fourth fastest depreciating market in the nation.
So, this said, we are in for a number of years of this market, exactly as I predicted. OVER ASSESSED IS OVER TAXED. Call it what you want, and this is why I am running for office.
www.largent2010.com
This week, my prediction, which was treated very "unlikely" then, is coming true. The following is the essence of what was on the front page of the Record Searchlight this week:
Year-over-year home values in the greater Redding area fell for the 13th straight quarter, according to federal figures released Tuesday.
The Federal Housing Finance Agency all-transaction house price index showed that values in the region that includes Redding, Anderson and Shasta Lake dropped 12.82 percent in the first quarter of 2010 compared with the same three-month period a year ago.
Values in Redding in the first quarter fell 4.1 percent compared with the previous quarter, and have plunged 16.17 percent over the last five years.
Nationally, home values fell 6.8 percent in the first quarter over the same quarter in 2009, and 1.6 percent compared with the previous quarter, the Federal Housing Finance Agency said.
The index gives estimates for 301 housing markets, tracking data from mortgages used for both home purchases and refinances. Because the source data is different, it provides a similar but distinct picture compared to that offered in the figures from MDA DataQuick.
The Kennewick-Pasco-Richland area of eastern Washington, where home values went up 2.08 percent, topped the nation in appreciation in the first quarter of 2010.
Bend, Ore., held the dubious honor as the fastest-depreciating community as values in central Oregon plummeted 23.03 percent in the first quarter. It was the second consecutive quarter Bend topped the federal index in depreciation.
Year-over-year values in Redding started falling in the first quarter of 2007, when they slipped 1.58 percent, and have declined every quarter since, according to the federal index.
The median sales price for a home in Shasta County in April was $165,000, the sixth straight monthly decline, according to MDA DataQuick.
Redding experienced its greatest annual depreciation in the federal index during the fourth quarter of 2008, when values dropped 14.62 percent.
Foreclosures will continue to put downward pressure on real estate values, Redding realtor Curt Largent said during his weekly radio program last Saturday.
The Federal Housing Finance Agency's quarterly index cast the national spotlight on Redding seven years ago as the fastest-appreciating housing market in the nation. Prices in Redding during the first quarter of 2003 jumped 16.3 percent.
Year-over-year appreciation in Redding peaked during the third quarter of 2004 when the federal index reported prices jumped 26 percent.
But in a sign of how crazy the U.S. market was in 2004, Redding couldn't even crack the top 10 with that 26-percent leap. Redding was the 15th fastest-appreciating market that quarter.
Las Vegas (42 percent) ranked first in appreciation in the fall of 2004.
By contrast, values in Las Vegas dived 18.99 percent in the latest index, ranking the gambling capital as the fourth fastest depreciating market in the nation.
So, this said, we are in for a number of years of this market, exactly as I predicted. OVER ASSESSED IS OVER TAXED. Call it what you want, and this is why I am running for office.
www.largent2010.com
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