Developer stalls on road to Mandalay Bay
Plans for the North Shore at Mandalay Bay subdivision in Oxnard screeched to a halt last month after the property went into foreclosure. In the heyday of the housing boom, owner Trimark Pacific-Mandalay Bay took out a loan from California National Bank for $65.9 million for the development of 292 single-family residences at the North Read More →
DCH targets Santa Barbara Lexus in 2009
Amid concerns over a credit crunch and slowing demand in the car industry, New Jersey-based DCH Auto Group plans to increase its tri-county presence with a long-awaited Lexus showroom in Santa Barbara. According to a representative for DCH’s real estate holdings, construction is slated to start as soon as the permits from the city of Read More →
Santa Barbara investors target multifamily units on clearance
Santa Barbara-based M3 Multifamily is seizing the bargain real estate opportunities caused by the market’s collapse. M3’s principals – John Mosby, Jon Martin and Mason Farrell – have been purchasing apartment properties from sellers in financial distress. Because would-be apartment buyers have been sidelined by rising capital rates, the principals expect rents and occupancy rates Read More →
Foreclosures overtake sales
With foreclosure rates soaring across both the state and the nation, the Central Coast has not been immune to defaults and lender takeovers. Santa Maria and Orcutt have been worst hit by the housing crunch, as the duo have seen almost twice as many foreclosures as regular home sales since the beginning of 2008. Former Read More →
Hearst Castle to celebrate 50th anniversary
The 50th anniversary of Hearst Castle becoming a state park has inspired the movement to increase community awareness and involvement in the landmark, ensuring William Randolph Hearst’s legacy carries on for another generation of visitors. “The guiding principle has been community access, interest and exposure,” said Carol Schreiber, executive director of Friends of Hearst Castle. Read More →
Lessons to keep your business alive through 2009
When the current period of recession ends, probably sometime next year, there will be two kinds of companies left. Those who survived and those who didn’t. Having weathered a terrible recession in the publishing industry in 2001 and a total washout of the real estate market in my home state of Colorado a couple of Read More →
That
Just in time for the holidays, the cute little gingerbread-style house across from the Santa Barbara News-Press building on Anacapa Street is going to be torn apart. Maybe that’s a little more Hansel and Gretel than it is holiday cheer, but you get my drift. The small Victorian-era cottage, listed as “Myers Carpenter Gothic Cottage” Read More →
