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.
A major pillar of Santa Barbara’s exceptional community, notes Kenny Slaught, is the region’s widespread commitment to philanthropy. 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.
As early as 1925, Santa Barbara city planners, recognizing the natural charm of Southern California, developed legislation to preserve Spanish Colonial architecture, and the city became the first populace in the United States to consider the importance of historical buildings. The County Courthouse, the most common downtown destination for visiting tourists, is adorned with brilliantly colored tiles and murals that display striking scenes from the city’s past. A church that has been operating for over 200 years, The Old Mission, also known as the “Queen of Missions,” provides an amazing view into the formation of the New World through guided tours and an expansive museum.
Real estate professional, Kenny Slaught, discusses the iconic features of the Spanish Colonial architecture that can be found throughout Santa Barbara. He suggests various places in the city where the features are architecturally amazing, as well as highlights the movement of the style to the area by architect, George Washington Smith.
Kenny Slaught, Santa Barbara real estate professional, provides insight into the historical importance of the city’s architecture and how its integrity has been upheld throughout the years. He discusses the unique designs of structures in Santa Barbara, as well as touches upon some of the legal actions put in place to protect historic landmarks.
Santa Barbara City College has maintained a great reputation for training professionals who work in the field of network support. According to successful entrepreneur Kenny Slaught, “your valuable time will be wisely invested studying this promising and useful program.” Network engineers handle the computer network within a company, providing employees with the best technological applications in connectivity as well as data management. As it happens with numerous jobs in communications technologies, career opportunities are strong and increasing in numbers every year.
While serving as founding principal and president of Investec Real Estate Companies, Kenny Slaught has boldly led his investment, management, and development firm through several market cycles with continued success. As a key figure in the Southern California residential, commercial and industrial real estate markets for over thirty years, he has weathered unexpected variance and bested trends. With his wide-ranging experience and in-depth knowledge of the acquisitions that shape the state he has called home since childhood, Slaught provides his insights about the unique nuances of the California market; these distinctions include the ability to identify purchase opportunities and pitfalls, and an astute knowledge of the numerous extraneous influences affecting the Golden State.
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.
Technological development has revolutionized America’s real estate industry, making the property management sector more efficient and profitable. Platforms that offer numerous online collaborations and –most importantly –workflow automation are increasing in popularity, in large part due to their ability to provide prompt access to accurate and consolidated data and information flow. Kenny Slaught, the president and founder of Santa Barbara-based Investec Real Estate Companies, shares his insights into how California developers can best apply innovative models and cyber operations in their business strategies.
Almost 100 years ago, famous architect George Washington Smith was the inspiration for the California movement called the Spanish Colonial revival. George was a man who actually dropped out of Harvard and eventually became a successful bond trader. Once a successful businessman, he moved to the Santa Barbara area anticipating a relaxing lifestyle and planning to work on his painting interests. What came as a surprise was that everyone loved the house he had designed, prompting him to continue designing architectural masterpieces for other Californians. Using authentic materials from Spain and merging new and old world inspiration, George Smith’s designs are sought out and enjoyed for their simplistic beauty and complex design. George is known as a founding father of Santa Barbara and other architects have mirrored his style for many generations. Santa Barbara real estate developer, Kenny Slaught has always admired the keen eye and attention to artistic detail that is found in George’s works and those that followed him.