A major pillar of Santa Barbara’s exceptional community, notes Kenny Slaught, is the region’s widespread commitment. The county’s civic leaders, business professionals, and residents maintain a deep tradition of nonprofit activity and generous giving, seen today through numerous charities, volunteer organizations and community initiatives. The area’s history of giving dates back to the creation of the Santa Barbara Foundation in 1928. Thriving local nonprofits eliminate mean that public officials do not need to seek assistance from national foundations, and can provide immediate attention to the needs of the community.
Other factors affecting the current situation are particularly Californian in nature and are the result of a general scarcity of land in desirable locations. Undeveloped land is priced prohibitively high, especially within the Los Angeles and San Francisco metropolitan areas. Kenny Slaught notes regular setbacks in construction of new projects, resulting in many owners choosing to stay put and renovate, as Proposition 13, the 1978 amendment to the state’s constitution, makes relocating a daunting choice. Though the law caps future property tax increases at 2% based on 1975 assessments, an exorbitant exception takes place when a sale happens and a property is reassessed based on its current value. Ultimately, yearly totals are framed by purchase figures that vary monthly, as real estate demand in California shifts seasonally with most homes moved in June and a small increase in sales at year’s end. Also having an affect on yearly totals are asking prices, interest rates, consumer confidence, negative equity status, quantity and quality of homebuyer jobs, disposable income, saving rates, and elements such major foreign investments.
New intuitive software and mobile applications, says Kenny Slaught, the owner of one of the most successful property management enterprise in Santa Barbara, are giving investors and builders more options for lending and borrowing opportunities across a variety of real estate asset classes and geographies. California’s peer-to-peer lending projects emerged with the adoption of the Jumpstart Our Business Startup (JOBS) Act in 2012, significantly democratizing the ways in which sponsors can raise funds for real estate acquisitions and development. The new act allowed the previously banned practice of advertising, openly soliciting private funding from accredited individuals and firms. Individuals with a net worth of $1,000,000, excluding ownership of their personal residences, or with an annual income of $200,000 or a household with $300,000 if filed jointly with a spouse, can become an accredited investor. The amendments gave allow individual borrowers and lenders to participate in debt and equity financing, where loans generate income in the form of interest, without a sanctioned financial institution involved in the process. The online marketplace has created a new way for property owners and funders to browse investment offerings, perform due diligence, and have access to dashboards which track how assets and financial products are performing.
Both individuals facing death and their loved ones have to deal with anticipatory grief as the unavoidable draws near, notes Kenny Slaught. He notes an unmatched level of professionalism and compassion that the dedicated staff of Hospice of Santa Barbara has demonstrated to help loved ones and those with terminal illness confront and handle this grief in constructive ways so that they can enjoy their final days together with minimal stress and anxiety. Facing this grief directly can boost communication between loved ones and allow for saying what needs to be said and achieving a sense of closure, which can ease the grieving process after the loss occurs.
Kenny Slaught, influential thought leader, business strategist and property investor, is committed to helping individuals and groups in need throughout Santa Barbara. In keeping with his life’s work as a respected, he has promoted the many community-centric initiatives at the Hospice of Santa Barbara – such as counseling and support services. As he strives to increase public knowledge about the impact of social support, particularly for people who have experienced the loss of a loved one, Slaught has recently advocated for these programs on his blog at KennySlaught.com.