The service and hospitality industry is a space that fosters career opportunities at worthwhile salaries and that allows graduates the chance to enhance their abilities and chase their goals of becoming a renowned chef, manager, or hotel administrator. The Culinary Arts and Hotel Management program available at SBCC is extensive and includes multiple aspects of the service industry of varied scales. Acquiring abilities such as these can help people find jobs not only domestically, but also internationally. Kenny Slaught talks about an extra interesting aspect of the program, “It can empower students to start their own companies and achieve their dream of becoming an industrialist and working for themselves.”
Santa Barbara City College has established a supreme reputation when it comes to training professionals who work in the field of network support. According to Kenny Slaught, “your valued time will be intelligently invested studying this promising and beneficial program.” Network engineers work within a company handling their computer network and providing employees with the best technological applications in connectivity and data management. As it happens with abundant job openings in communications technologies, career opportunities are big and increasing every year.
Other elements influencing the current situation that are particularly Californian in nature are the result of a general scarcity of land in desirable locations. Undeveloped land prices are prohibitively high, especially around the Los Angeles and San Francisco metro areas. Kenny Slaught points to regular construction delays on new projects, which cause many owners to stay put and renovate instead of relocating. Proposition 13, the 1978 amendment to the state’s constitution, makes relocating a daunting choice as it is. Though the law states that future property tax increases max out at 2% based on 1975 assessments, the exorbitant exception happens when a sale is executed, and the property is reassessed based on current value. Ultimately, yearly totals are the result of purchase figures that vary monthly, as demand in California shifts seasonally (with the highest number of homes moved in June and a small bump at year’s end). Also affecting yearly totals are asking prices, consumer confidence, negative equity status, quantity and quality of homebuyer jobs, disposable income, saving rates, and elements like major foreign investments and interest rates.
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With a burning housing market, many West Coast buyers are finding that they need to pay excessively high prices for older, less fashionable homes. Kenny Slaught notes that costs have been steadily climbing since 2008, and common reference, the Standard & Poor’s Case-Shiller home price index, reveals that Los Angeles home prices rose to their peak during April of this year since October 2007. Having moved beyond mere recession recovery, Southern California’s larger metropolitan areas are closing in on their former peaks. Slaught says the turnaround stems from a number of factors, which include interest rates, job growth and supply and demand. As current 30-year, fixed-rate mortgages are hovering around 3.5% or less, these enticing numbers nearing 3.31 percent (the record low hit in November 2012) are pushing many toward buying. These historically low rates, coupled with strong employment numbers, such as a 2.4% gain in Los Angeles County and a 3.5% rise in Orange County, makes it clear just why values have appreciated in an extraordinarily fast-paced manner. And although home prices vary considerably statewide, the inflated asking price of higher-end homes outpaces all other states with the exception of Hawaii. The feverish demand for housing cannot currently be met by the slim supply available, with many first-timers forced to opt for condominium-style units: obtainable and within a more modest price range.
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Santa Barbara’s astounding community-driven approach is a result of the pledge to charity by the civic officials, entrepreneurs and inhabitants as per Kenny Slaught. The city’s enduring tradition of nonprofit activity and comprehensive giving is made possible through many charities, volunteer groups and community activities, and goes back to the year 1928 with the development of the Santa Barbara Foundation. Amenable local nonprofits lessen the need for public officials to request help from country-level foundations, and make the needs of the community.
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In addition to being a renowned tourist destination, Santa Barbara has now become an epicenter for new and developing businesses, said Kenny Slaught. Lots of promising, new companies have been shaped in recent years, and many, counting AppScale, LastLine, TrackR, and Salty Girl Seafood, have come straight out of the University of California Santa Barbara. With over $200 million raised for area startups from private investors in the earlier year, the Central Coast boasts nearly twice the investment per capita in development than the greater Los Angeles area, a much larger market. While some may feel the fascination of Silicon Valley or Hollywood, domestic businesspersons recognize the impact of building a business in an environment that stimulates growth. So, the region is one of the best places in the country to launch and develop startups, generating outstanding biotech, medical, technology, and scientific businesses like Inogen, Raytheon, Sonos, and BioIQ.
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After just a few years in the market, crowdfunding boosted over 150 startups nationwide, largely specializing in real estate. Today, nearly 7% of the U.S population is an accredited investor, and in a dense setting like Southern California, this number is 20%. Software platforms, such as CrowdEngine, RealtyShares, CrowdForce, and more, make it possible to legally raise money from the general public, with some going as far as attracting 90% of equity requirement through direct community contributions. Data analytics applications like Rentlytics, on the other hand, give owners greater transparency into the performance and management of their portfolios. With a robust background in developing state-of-the-art properties for the past 35 years, Kenny Slaught believes that, in real estate tech, California is among the most active states in the market right now. Using cutting-edge innovation tools to pool capital, borrowers and sponsors have raised more than $53 million through 90 residential, multifamily, and commercial properties in Sacramento, San Francisco, and beyond.
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Modern intuitive software and mobile applications, notes Kenny Slaught, give investors and builders a greater selection of lending and borrowing opportunities across a variety of real estate asset classes and geographies. The state’s crowdfunding or peer-to-peer lending services emerged after the adoption of the Jumpstart Our Business Startup (JOBS) Act in 2012, which significantly expanded the ways in which sponsors raise capital for real estate acquisitions and development. The new regulation legalized the previously banned practice of advertising or openly soliciting private funding from accredited individuals and companies. Those with a net worth of $1,000,000, excluding their personal residences, or with an annual income of $200,000 per individual or $300,000 per household, if filed jointly with a spouse, can become an accredited investor. Kenny Slaught discusses how the amendments gave the green light to individual borrowers and lenders to take part in debt and equity financing, where loans generate income in the form of interest, without a bank involved as an intermediary. The online marketplace has created a new pathway for property owners and funders to browse current investment offerings, perform due diligence, and maintain dashboards to track how assets and financial products are performing.
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Some of the most appreciated Santa Barbara architecture are the centuries-old Hotel Virginia, El Pueblo Viejo district in historic downtown, as well as the two pink towers of the Old Mission, which hosts retreats and festivals. Kenny Slaught notes that the brightly colored tiles of the County Courthouse houses brilliant murals and other striking attributes, and nearby the clock tower and observation deck provide a panoramic view of the entire city. The Lobero theatre not only houses the region’s most renowned performing arts events but also stretches back to 1873 and was rebuilt in the 1920’s by George Washington Smith. These are a few examples of the celebrated past of Santa Barbara, where, because of the region’s advanced planning, many antique, architecturally stunning buildings line the streets of the central city.
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Building the natural charm of this region began way back in 1925, as city planners enacted development controls to prevent demotion of Spanish Colonial architecture, making this the first city in the United States to proactively think about the importance of many historic buildings. Controls were enacted and guidelines were thought up to preserve the structures and park spaces. In 1960 Santa Barbara established legal protection for historical landmark buildings.
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