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Real estate agent David Crisp’s former mansion sold Friday for $1.2 million, according to the Bakersfield Multiple Listing Service, which indexes properties for sale.

The sale price was $500,000 lower than what Crisp, 28, paid for the 6,666-square-foot Seven Oaks home less than three years ago.

When it was foreclosed on in December, he had borrowed at least $2.1 million against the property.

HSBC Bank USA, N.A., a Delaware company, put the repossessed house up for sale on April 14, and had a buyer the same day.

The sale was finalized on Friday, according to the listing service.

Crisp and his ex-business partner, Carl Cole, 60, have been linked to dozens of foreclosed properties, an ongoing Californian tally shows.

The pair are being investigated by the FBI, but have not been charged. Cole and Crisp are also named in a state regulatory complaint alleging fraud. An administrative trial to hear those charges is scheduled for Bakersfield this summer.

Read the Crisp and Cole archives.

-Vanessa Gregory, staff writer,

So today we in the newsroom received what we call a budget line, which basically is a preview of a story we haven't seen yet. It read like this:

"In a sign that the economic downturn is hitting hard among Latino immigrants, more than 3 million of them (sic) stopped sending money to families in their home countries during the last two years, the Inter-American Development Bank said Wednesday."

Without waiting for the rest of the story (it was going to take hours, time we didn't have if we were going to get local comments), we got on the phone and hit the sidewalks to try and find out to what degree this trend has affected Kern County.

The first thing we learned, halfway into our first dozen calls, is that a lot of people who work at businesses that wire money to other countries don't care to speak to newspaper reporters. The next thing we learned is that, among those who do care to speak to reporters, there has been no noticeable change in the amount of money being sent home to Mexico.

“No, we still do plenty of Western Unions every day,” said Frances Alba, the finance person at Fastrip Financial in Delano. “I haven’t noticed any difference. It’s still pretty much the same.”

Bottom line: Four money transfer businesses around the county, from downtown Bakersfield to Arvin, said their money transfer numbers have not changed significantly among Hispanic immigrant customers.

Perhaps the most interesting statements we heard were these:

“I think what they’re doing, they’re spending less money here and sending more or less the same to Mexico,” said Cecilia Garcia, manager of Jalisco Jewelers in downtown Bakersfield, which provides money transfers. She said the real test will come May 10, which is Mother’s Day in Mexico, one of the biggest days for Mexican immigrants to send money home.

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Reporter Courtenay Edelhart dug up this fine little nugget today:

High-end handbag maker Coach Inc. plans to open a store at Valley Plaza Mall this fall.

Until the Bakersfield store at 2701 Ming Ave. opens on Aug. 15, the closest Coach store is in Fresno.

In addition to designer handbags, Coach sells clothes, accessories, business cases, eyewear, fragrance, jewelry, gloves, luggage, scarves and wallets.

Based in New York City, Coach has 281 stores in the United States, and is sold at 900 department store locations in the U.S. and 140 international department stores.

Can Bakersfield folks afford a Coach store? Will you be shopping there?

Last fall, I wrote about a development team's plan to transform a historic downtown building into trendy urban lofts. The concept is pretty unique for Bakersfield.

The lofts fell behind schedule, but a reception and preview is planned for Friday night. And the developer has posted prices and floorplans on its Web site.

The preview will be from 5 to 9 p.m., May 2, at Metro Galleries, 1604 19th St.

-Vanessa Gregory, staff writer

How are you going to spend your tax refund and/or economic stimulus package check? A bunch of retailers are offering promotions to entice you into spending right away. Or will you pay down debt or invest with it?

Courtenay Edelhart

Business Reporter

Bakersfield Californian

cedelhart@Bakersfield.com

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Mexicana Airlines is suspending its flights to Guadalajara for 30 days to re-evaluate its service, reporter John Cox writes.

Read the full story.

The culprit? High fuel costs.

And ever since the flights began, the airline has struggled to fill seats, an airport spokeswoman told John.

Makes you wonder if any other flights are in jeopardy.

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A new shop called Tilly's — meant to appeal to the surfer and skater crowd — is set to open at Valley Plaza this May.

Read reporter Courtenay Edelhart's story for all the details.

Are you going?

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Our latest home sales map is ready for a peek.

No need to grab a map and figure out where to find Pebble Beach Drive and Anchor Island Court. (Homes on those streets recently sold.)

We’ve done the work for you here.

This map is updated with homes that sold in Bakersfield from March 10 to March 16, color-coded by sales price.

We regularly publish single-family home sale transactions that occurred between individuals. Since foreclosures, or bank-owned properties, now account for an increasing number of weekly sales, sales between banks and individuals are now being included.

You can easily check out what homes are going for with the information from First American Real Estate Solutions compiled by reporter Vanessa Gregory.

Highlights for the March 10 to 16:

• 71 homes are new on this map.

• Priciest? One sold for $577,500 in the 93308 ZIP code.

• Cheapest? One sold for $70,000 in the 93304 ZIP code.

What do you think of the prices?

— Christine Peterson

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It's always fun to ogle houses you can't afford.

A Miramonte resident bought a 300-acre estate near Woody last week for $2.3 million, according to a press release from J.P. King, an upscale property auction company based in Alabama.

Aside from acreage, the buyer got a five-bedroom ranch house, an A-frame main lodge set on a lake and two cabins. Not bad.

At one time, the Glennville Country Estate belonged to former Lakers owner Dr. Jerry Buss and Washington Redskins owner Jack Kent-Cooke, according to the release.

A 32-acre portion near Bear Creek described as "ideal for a ranchette or private estate" sold to a Bakersfield bidder for $192,500.

-Vanessa Gregory, staff writer

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A business consultant named Mark Hovind thinks it is, along with Prescott, Ariz.; Fayetteville, Ark.; Grand Junction, Colo.; Bend, Ore.; Valdosta, Ga.; and Morgantown, W.Va.

According to a report from the Associated Press, Hovind, who is the president of JobBait.com, came up with a formula with data from the Bureau of Labor Statistics that shows yes, Bakersfield will be fine in any downturn.

Read the full story, including comments from Bakersfield folks.

But yet we keep hearing that people are pinching pennies.

Is Bakersfield recession-proof? What's the evidence? Is it that we have strong oil and ag to buoy the economy?

— Christine Peterson

Looking to be one of the first to have the new “Grand Theft Auto IV?”

For the benefit of the curious (not me!!!) I did a quick phone survey of stores.

Looks like your best bet is the Wal-Mart at 2300 White Lane. It's the one place I found that plans to stay open past midnight to sell the game for the Xbox 360 and PlayStation 3.

Assistant manager Mikki Hernanez said they'll be open "an hour or whatever" past midnight, or "until any crowd dies."

People at the other Wal-Marts said they'll be open normal hours today. Same with Circuit City and Best Buy.

— Christine Peterson

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Do you know the person on the left?

Read about his position in the business world and those of several other locals in this week's People in Business column.

It's the place to announce professional achievements, new jobs and promotions.

Want to be in next week's list?

It's best to submit to bakersfield.com/yourwords.

You can also mail contributions to The Bakersfield Californian, business editor, P.O. Bin 440, Bakersfield, CA 93302; faxed to 395-7519; or e-mailed to business@bakersfield.com. Sorry, photos that are submitted cannot be returned. For information, call 395-7345 between 9 a.m. and 6 p.m.

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Tucked at the bottom of today's California Association of Realtors' press release was a tidbit about none other than Ridgecrest.

Median home prices there rose 7.6 in March compared to the same month a year ago, putting the city in the top 10 statewide for communities that saw increases, rather than the more common decreases.

Here's more about Kern:

County/City/Area  March 08  March 07  Year-to-year percent change

And click here for more about other counties and cities.

— Christine Peterson

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It's not every day that a book with fluorescent orange and blue writing lands on my desk. So I had to flip through "How to Be Useful: A Beginner's Guide to Not Hating Work."

The book jacket suggests that author Megan Hustad "dismantles the myths of getting ahead and helps you navigate the murky waters of office life."

Intrigued? I was.

You can read excerpts on the book's Web site.

The book is supposed to help you learn "why 'just being yourself' is a terrible idea," "why you shouldn't be nice," "how to screw up with grace and dignity" and "the right and wrong ways to talk trash about yourself."

Lost me there.

What do you do to love work? (Or at least not hate it.)

— Christine Peterson

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New-home construction stayed slow statewide in March, the California Building Industry Association reported this morning.

The report noted a 65 percent drop in permits pulled this March compared to a year ago.

And the first quarter, with a 61 percent year-to-year decline, was particularly rough in the San Joaquin Valley (ahem).

But Kern County did better than the state average, with a 50 percent drop in single-family construction for the quarter. Builders pulled 605 permits this time around.

A PDF with numbers broken out around the state is available at the association's Web site.

-- Gretchen Wenner, staff writer

John D. Reynen of Reynen & Bardis Communities Inc. filed for Chapter 11 (personal) bankruptcy today.

Read more here.

Reynen & Bardis has 8 or so projects in Kern, mostly in metro Bako and Wasco, and mostly in trouble. One Wasco community has been left with partially constructed homes standing empty and, according to anecdotal reports, folks unable to retrieve purchase deposits they put down last fall.

 I'll get a few more details from the filing and update y'all..

 -- Gretchen Wenner, staff writer

The number of building permits pulled in the Bakersfield metropolitan area continues to be low, according to a recent report prepared by Howdy Miller, the director of commercial marketing for Ticor Title in Bakersfield.

According to Miller, 479 residential buliding permits were taken out between January and March, down from the 694 permits pulled during the same time last year.

And the first quarter tally is a 65 percent decline from the 1,380 permits pulled during the same months in 2006, Miller's reports show. Numbers were high in the same months of 2005 and 2004 too -- 1,249 and 1,240, respectively.

Here are the top 5 builders by permits pulled, January to March 2008, according to Miller:

-Standard Pacific: 92 (all in March)

-Lennar Homes: 56

-McMillin Homes: 54

-K. Hovnanian: 37

-Centex: 31

-Vanessa Gregory, staff writer

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We've learned that Uno Chicago Grill has plans for Bakersfield.

When and exactly where aren't known yet, but a father-and-son team have purchased the rights to open five eateries in Central Cal.

Read reporter John Cox's full report.

Have you tried it? Tell us what you think.

Want a peek at the menu? Click here.

Here's a "raw report" press release from the taxman. Don't you feel good this Earth Day?

The Franchise Tax Board (FTB) celebrated Earth Day today by recognizing the 9.6 million California taxpayers who helped to conserve resources this year by filing more tax returns electronically than ever before.

“State taxpayers saved nearly 90 million sheets of paper this year by filing their returns electronically,” said State Controller and FTB Chair John Chiang.

The record number of returns filed electronically in 2008 represents a 10 percent increase over last year. Another 500,000 are expected to electronically file on extension by October 15. Electronically issued refunds are also up by approximately 10 percent – totaling nearly 4 million statewide. ...

A number of other services are available online at www.ftb.ca.gov.

Restaurants and hotels are invited to get involved in the Bakersfield Hospitality Olympics, an event to show off workers’ skills, build friendly competition and raise funds for the Bakersfield Rescue Mission.

Teams will play timed games such as a tray run relay race and toy assembly, according to Sharon Fuller with Doubletree Hotel Bakersfield.

Registration of $150 per team is due May 9; contact Fuller at 632-2216 for details and forms.

The event takes place from 2 to 5 p.m., with an awards banquet from 5 to 7 p.m., June 9 at the Doubletree.

— Christine Peterson

Bakersfield appraiser Gary Crabtree released a report with some housing market statistics for the first quarter of 2008, broken down by ZIP code. (Click on the blue icon to see the PDF report.)

The house price statistics are given by mean, rather than median, so that's not ideal.

But this is interesting: sales are down, across the board, except in the 93314 ZIP code.

Anyone got a theory on what's going on there?

-Vanessa Gregory, staff writer

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Our latest home sales map is ready for a peek.

No need to grab a map and figure out where to find Loon and Memory courts. (Homes on those streets recently sold.) We’ve done the work for you.

This map is updated with homes that sold in Bakersfield March 1 to March 9, color-coded by sales price.

We regularly publish single family home sale transactions that occurred between individuals. Since foreclosures, or bank-owned properties, now account for an increasing number of weekly sales, sales between banks and individuals are now being included.

You can easily check out what homes are going for with the information from First American Real Estate Solutions that's compiled by reporter Vanessa Gregory.

Highlights for the first nine days of March:

• 66 homes are new on this map.

• Priciest? One sold for $500,500 in the 93312 ZIP code.

• Cheapest? One sold for $67,000 in the 93307 ZIP code.

What do you think of the prices?

— Christine Peterson

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Cal State Bakersfield senior Cameron Connally took first place at the Western States Collegiate Sales Competition held recently at Arizona State University, Polytechnic campus.

Connally credited his teammates, Dan Culbertson and Mike Diaz for training with him, according to a university press release. They role-played sales presentations.

“I am very proud of our team’s outstanding performance,” said marketing professor Ron Pimentel in a university press release. “They trained hard throughout winter quarter in preparation for the competition, and they are each exceptionally bright, capable students.”

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No surprise here: state foreclosures levels hit their highest mark in 15 years last quarter, Dataquick reported this morning.

Here's the beef:

Lending institutions sent homeowners 113,676 default notices  during the January-to-March period. That was up by 39.4 percent from 81,550 the previous quarter, and up 143.1 percent from 46,760 for first-quarter 2007, according to DataQuick Information Systems.
Last quarter's number of defaults was the highest in  DataQuick's statistics, which go back to 1992.

Kern's stats broke out this way for default notices:

County/Region            2007Q1      2008Q1      Yr/Yr%

Kern 1,297       3,211      147.6%

Some other counties of interest:

Fresno   1,116   2,464      120.8%

Santa Barbara   372  897      141.1%

Los Angeles  8,843   20,339      130.0%

Orange 2,644  7,082      167.9%

Ventura  965     2,176      125.5%

Regions:

Socal   26,748    65,309      144.2%

Bay Area  6,730   16,398      143.7%

Coast 1,182    3,197      170.5%

Central Valley 11,054    26,793      142.4%

-- Gretchen Wenner, staff writer

Looking for work?

The state’s Employment Development Department is holding an “Honor a Hero, Hire a Vet” Job and Resource Fair from 10 a.m. to 2 p.m. Tuesday at the Army National Guard Armory, 2800 Gateway Ave.

It’s a chance for veterans, National Guard members and reserve troops returning from Iraq and Afghanistan to meet with employers.

The event is sponsored by the California Labor and Workforce Development Agency’s Employment Development Department. Partners include the California Department of Veterans Affairs, the Department of Industrial Relations’ Division of Apprenticeship Standards, and the California Community Colleges.

Before I gave up on Los Angeles and its obscene cost of living, money was really tight. More than half of my take home pay went to rent (buying a house was out of the question) and I had an hour and a half commute every day, fueled by gas that cost nearly $4 a gallon. Almost every penny of what would have been disposable income went to day care. I'm the single mother of a 3-year-old son and a daughter who will turn 6 in a couple of weeks.

I tried to shield my children from all that. They were far too young to be burdened with my financial woes. But every once in a while I had to fess up, like when I pulled my daughter out of gymnastics classes because we just couldn't afford them anymore.

A few months before we moved to Bakersfield I forgot to give my daughter her school lunch and snack money. I had it. It was just an oversight on a hectic morning. My kindergartener got  lunch anyway because, I later learned, she was so frightened by what she perceived to be our dire poverty that she had begun hoarding money. She wouldn't buy her snack for days at a time, just in case she needed cash for an unexpected disaster.

I was horrified to learn this, of course. I sat my little girl down and explained to her that while, yes, luxuries like gymnastics and vacations might have to stop for a while, we were not so bad off that we had to worry about starving to death on the streets, so please, please, go ahead and buy your snack.

Are you a parent? Have you found yourself spending less in the economic downturn? If so, what kinds of cuts are you making and how are you explaining the belt tightening to your children?

The Bakersfield Californian is preparing an article on this topic. Please e-mail cedelhart@bakersfield.com if you're willing to share your story.

--Courtenay Edelhart

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Did you catch Jenny Shearer's report on a proposal to revitalize Oildale?

See it here.

Officials are exploring the creation of a redevelopment agency that could work on economic development issues in the area.

County Supervisor Mike Maggard, who is spearheading the effort, told Jenny, “Oildale has suffered from the lack of a vision or some game plan to improve itself since I was a boy growing up in Bakersfield."

What do you think? Is that true? Should Oildale change? Stay as it is?

— Christine Peterson

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Go and talk about the gap at a forum put on by the American Association of University Women — Bakersfield Branch.

It will be held from 6 to 8 p.m. Tuesday at the Cal State Bakersfield Student Union Multipurpose Room.

According to organizers, there will be a panel of women with successful careers in traditionally male-dominated fields talking about their experineces and challenges.

Here's what organizers say in a press release:

"Equal Pay Day is a national day to commemorate the struggles involved to reach gender-based pay equity, and is calendared for April 22 this year. The date is calculated based upon national statistics for median income, which show that women must work for 16 months to earn the same salary as men, until a date in late April. According to the most recent U.S. Census Bureau statistics, male median earnings are $41,965, compared to $32,168 for women. 

However, in Kern County, the data is even more compelling. Annual median income for men is $26,150, compared to $16,168 for women; women’s earnings as a percentage of men’s is 61.83%."

How does your pay stack up?

— Christine Peterson

The Greater Bakersfield Chamber of Commerce's Business After Five Mixer is 5:30 to 7:30 p.m. April 24 at The Villas Model Homes.

That's on the southeast cover of Ming and Grand Lakes avenues.

The host is Castle & Cooke.

Cost for the networking event is $5 per chamber member and $10 per nonmember.

Here's a snapshot of what reporter Courtenay Edelhart writes in her story today:

“It’s pretty bleak for those looking for a summer job,” said Cathy McCarthy, senior vice president of marketing for SnagAJob.com, a Web site that specializes in hourly employment.

The Web site recently surveyed 1,000 employers nationally and found 16 percent of those who hire seasonal staff said they plan to hire fewer people this summer than last summer.

That figure was higher in the west. In eight western states, including California, 18 percent said they are downsizing this season, and 53 percent said they wouldn’t hire at all.

So ... if you're a teen, have you found a summer job? Parents, how's it going for your teen?

Check out the blue box for some stats on teen work, too.

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People in Business is the place to recognize achievements of local professionals.

Have a submission? Send it to business@bakersfield.com.

Want to know who the person in the picture is? Read this week's People in Business column.

— Christine Peterson

Here's a press release from the Greater Bakersfield Chamber of Commerce:

Applications for the Chamber's 2009 Leadership Bakersfield program are now available.

Dedicated to promoting and developing dynamic business and community leaders, this unique and versatile Chamber program gives participants the opportunity to become actively involved in the community and gain insight into our area’s opportunities and issues while exploring solutions and alternatives. 

Click here for application information. Submission deadline is 5pm on Friday, June 27. For more details, e-mail tsterling@bakersfieldchamber.org or call 661-327-4421.

Here's a "raw report" press release from The Pew Charitable Trusts. Read it and weep.

Want more? Click here for the full report and fact sheets on every state.

Or click on the funky blue rectangle to the left for the PDF sheet on California.

Washington, D.C. — One in 33 homeowners is projected to be in foreclosure  primarily over the next two years, as a result of subprime loans made in 2005 and 2006, according to a new report released today by The Pew Charitable Trusts. In some states, the outlook is especially grim; for instance, nearly one in 11 homeowners in Nevada is projected to be in foreclosure and one in 18 Arizona homeowners may face the same circumstance over the next two years.  

Homeowners being foreclosed upon may not be the only homeowners affected, according to data cited in the report. An additional 40 million neighboring homeowners may see their property values and their municipalities' tax bases drop by as much as $356 billion, largely over the next two years. 

Defaulting on the Dream: States Respond to America's Foreclosure Crisis is the first-ever, comprehensive look at what all 50 states and the District of Columbia are doing to try to address the subprime mortgage fallout.  The report finds that more often than not, states are at the forefront of developing policies and programs aimed at preventing more irresponsible loans from being made and improving residents' ability to stay in their homes. The report highlights states that are making headway to strengthen loan underwriting standards and help borrowers avoid foreclosure˜and underscores that any federal legislation must complement the work being done in the states, not compromise it. 

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Reporter Courtenay Edelhart is working on a story today about the rising cost of food, and how that's hitting people in the pocketbook.

What are you doing to save money on food? Are you going to restaurants less? Shopping at discounters rather than the grocery store you used to visit?

If you're changing your habits, Courtenay would like to hear from you, and maybe include you in her story.

Share your thoughts here in the blog or shoot her an e-mail so she can call and chat with you for her story.

— Christine Peterson

So says the Fed this morning.

I found this description from Associated Press reporter Jeannine Aversa, who regularly covers the national economy.

"Even Fed Chairman Ben Bernanke recently acknowledged for the first time that a recession was possible. That was a rare utterance of the “r” word for a Fed chief. The government later this month will report on the economy’s first-quarter performance."

What signs are you seeing of the weakening economy?

— Christine Peterson

I got an e-mail this morning from Jon Vaughn, a Bakersfield real estate agent who attended Tuesday night's auction of more than 80 bank-owned (foreclosure) homes.

I wrote about auctions for Monday's paper, and I thought you guys might be interested in hearing Vaughn's impression of the event. Here are his thoughts:

Well, I’d have to say that the auction was an interesting experience.
 
Properties from all over Kern County sold yesterday to the highest bidder.  Some buyers were there for only one property that they had in mind, and investors were there just hoping to grab a good deal, regardless of the property condition. 
 
There had to be about 700 people that attended the event and you could tell that there were more people there than expected because they had to bring out more chairs.  My investor picked up one property, but had about 15 of them on his list.  I think there was a lot of people that attended the event thinking they were going to pick up a property for $1000.  There are too many infomercials these days about how to “Make Millions in Real Estate” which provides a misconception to the industry.
 
Some of the things I noticed was that after each property received it’s final bid, groups of two and three would stand up and slowly walk out of the building.  This is a huge mistake.  Just because that auction was over, doesn’t mean the property is automatically in contract.  Matter of fact, after about 10 properties with winning bids, about three would come back on the block.  The property has to be “Under Contract” or they will put it back on.
 
I met a guy that bought his very first investment, cash, at this auction.  He asked a lot of questions, and was worried because he never even walked in the home.  I assured him that his $95,000 bid price ($99,750 sales price with the 5% buyer premium), was a really good deal, even if the property needed $30k in repairs.  The lot alone had to be worth at least $50k. 
 
My investor lost about 5 or 6 different properties to a higher bidder, with a difference of $5000 on each.  When you attend these auctions, you have to know and be comfortable with your cap.  If not, you could very easily get into emotional bidding and you might as well go to Vegas because if you’re going to waste money, at least get free cocktails doing it.
 
That’s my take.
 
Jon Vaughn
Realtor, RE/MAX Magic

Thanks to Jon for letting me post his e-mail message here. Anyone else go to the auction? Thoughts?

-Vanessa Gregory, staff writer

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This week, Lennar will be served with a big lawsuit from almost 90 Bakersfield homeowners alleging defective construction in new northwest neighborhoods.

Click here for the article; you can download the complaint if you're so inclined:

It's not the only such lawsuit filed in Kern after the boom. We'll be looking at other major active ones as well.

Anyone have new-home nightmares (or happy tales!) to share?

-- Gretchen Wenner, staff writer

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Eric Turner, a 43-year-old Bakersfield man, recently won $1 million in the California lottery, $750,000 after taxes. He and his wife won't be making any extravagant lifestyle changes, though. They're going to pay off debt and invest the rest after buying a new car and maybe a fifth-wheel camper.

What would you do with a cool mil?

--Courtenay Edelhart

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An opulent Seven Oaks home, one of the most recognizable symbols of real estate agent David Crisp’s rise and fall, was listed for sale Monday for $1.17 million.

Crisp paid $1.7 million for the home less than three years ago.

Details and photos of the home's interior are here.

The bank that now owns the 6,666-square-foot house (it was foreclosed on) already accepted an offer on the place.

What do you think it might sell for?

-Vanessa Gregory, staff writer

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Our latest home sales map is ready for a peek.

No need to grab a map and figure out where to find Crescent Ridge Street and Meadow Ridge Avenue. (Homes on those streets recently sold.) We’ve done the work for you.

See the map here.

This map is updated with homes that sold in Bakersfield Feb. 25 to Feb. 29, color-coded by sales price and includes homes sold in previous weeks of February, too.

We regularly publish single family home sale transactions that occurred between individuals. Since foreclosures, or bank-owned properties, now account for an increasing number of weekly sales, sales between banks and individuals are now being included.

You can easily check out what homes are going for with the information from First American Real Estate Solutions.

Highlights from this time period:

• 56 homes are new on this map.

• Priciest? One sold for $710,000 in the 93314 ZIP code.

• Cheapest? One sold for $55,000 in the 93307 ZIP code.

And if you missed our previous maps, click here for January 2008 and here for December 2007.

— Christine Peterson

As home foreclosures pile up, real estate auction companies are rolling into town.

On Tuesday, Irvine-based Real Estate Disposition Corp. will put about 80 homes up for bid at the Kern County Fairgrounds. (Read today's article.)

Have any of you ever bought a house at auction? Was it a good experience? Anyone thinking of bidding tomorrow?

-Vanessa Gregory, staff writer

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It's that time of year when people across the country reveal a very important number — just how much they make annually.

And that information is shared in a Parade cover story. You can check out Parade's online coverage here.

See our local version here.

Are you surprised by the salaries? Saddened? Shocked?

Want to share what you do and what you make? This is the place!

— Christine Peterson

No excuses! The Franchise Tax Board has extended phone service hours for procrastinators. (My word, not that of the FTB!)

Call (800) 852-5711 for help in English and Spanish.

The hours:

• 8 a.m. to 5 p.m. Saturday, April 12

• 7 a.m. to 9:30 p.m. Monday, April 14

• 7 a.m. to midnight Tuesday, April 15

The state agency predicts about 5 million Californians will file their returns in the next few days, according to a press release.

— Christine Peterson

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Checkers Drive-In Restaurants Inc. opened its first Bakersfield location on Thursday at 3009 Calloway Drive.

It is the first restaurant for new franchisee Chris Dominguez, according to the company.

Checkers is known for its two drive-through lanes. The menu includes burgers and sandwiches, fries and thick shakes.

Anyone tried it?

— Christine Peterson

Here's what Courtenay Edelhart reports today:

The Hide Out diner has opened at 1419 19th St., downtown, serving up traditional comfort food including steak, ribs and pork chops.

The diner occupies 3,000 square feet and seats about 100, said owner Lamberto Luna, 49. Dinner entrees range from $5.99 for pork chops to $13.99 for a T-bone steak. Among midpriced offerings are fajitas for $7.99 and barbecue chicken and ribs for $9.99.

There’s also a lunch menu of burgers and assorted sandwiches, and a breakfast menu of mainly egg, potato and bread combos. Nine omelettes are served all day.

Luna insists he isn’t fearful that several previous restaurants that have attempted to make a go at the same location have gone under.

“We’ve got a solid business plan,” he said. “We’ve priced ourselves below a lot of the other restaurants nearby, and the food is good.”
 

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There's lots of talk of prison expansion in Kern County, as we've reported here in the blogs, and now it's reached Tehachapi.

And some people there just don't like the idea that there could be more convicted criminals in their community — albeit behind bars.

Read reporter Jenny Shearer's report.

Then tell us what you think. Do we need more prison space in Tehachapi (or Delano and Wasco, the other communities that might get more slammers)?

Good for jobs and the economy, or no?

— Christine Peterson

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It's that time of the week to introduce another set of people who've achieved in some way or another in their chosen professions.

Don't know who the person in the mug shot to the left is, and what she did?

Click here for this week's column.

Want to be in next week's?

It's best to submit here.

— Christine Peterson

The big R word — recession.

It's looming large, many economists say, and it's hitting college students hard. Many lenders are tightening standards, raising rates and making it otherwise difficult for students (or their parents) to get their hands on money to pay for school.

Some lenders have left a federal direct-loan program, too.

(We'll have a full story on the front page of Saturday's Californian, so check it out.)

How will you pay for college, for yourself or for your children, next year?

— Christine Peterson
 

The state's 70 Multiple Listing Service databases may soon be consolidated into a single, statewide system run by the California Association of Realtors.

The Bakersfield Association of Realtors, along with 60 of the state's 117 local Realtors associations, has given the idea the thumbs-up. Read the whole story.

Sure, this story is a little inside-real-estate-baseball, but I found this interesting:

"The rethinking of how brokers will list properties in the future — along with vital details such as price and square footage — is partially driven by the proliferation of real estate Web sites such as Zillow.com and LendingTree.com."

It's comforting to know newspapers aren't the only ones trying to navigate the Internet age.

Now, the new MLS won't be a public Web site. It's planned for the agents and brokers who sell and list properties. The idea, as I understand it, is that agents and brokers will have the most accurate, current information, which will help them be a preferred resource for consumers.

What do you guys think? If you were planning to move from Bakersfield to, say, buy a house in Tahiti, would you turn to the web as your primary information source? Call a Realtor?

Neither? Both?

-Vanessa Gregory, staff writer

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The 19th Annual Bakersfield Women's Business Conference is fast-approaching — April 17 to be exact. 

Reporter Courtenay Edelhart spoke with opening speaker Jeanne Robertson this morning.

Read the full Q&A here. 

You can sign up to attend on the conference Web site. 

We just received a notice from Self Help Enterprises, which offers free foreclosure counseling services to people in Kern, Kings and Tulare counties. 

You don't have to be low-income to get help, they say. 

The seminars are held Tuesdays at the Self Help offices, 8445 W. Elowin Court in Visalia. They ask that you make a reservation by calling their foreclosure hotline at 888-412-0828.

— Christine Peterson

Here's a "raw report" press release on the upcoming Antique Farm Equipment Show. Hey, some of our readers like these events!  So we're sharing.

Here's a "raw report" press release from the Franchise Tax Board. See anyone you know?

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Reporter Jenny Shearer found out that private soccer fields may be on the way to southwest Bakersfield, near the Auto Mall, if they get the OK from the Board of Zoning Adjustment. 

Check out her full report here.

Those who want to build them don't want to wait for city or county officials to have the money to build. 

What do you think? Do we need more soccer fields? Who should build them?

— Christine Peterson

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Our latest home sales map is ready for a peek.

No need to grab a map and figure out where to find Monterey Beach or Schooner Beach drives. (Homes on those streets recently sold.) We’ve done the work for you.

Bakersfield appraiser Gary Crabtree released his preliminary housing market report last Thursday. Sorry it's late, folks; I was off Friday.

The quick summary:

-Bakersfield home sales were up 9.6 percent in March compared with the same month in 2007, Crabtree writes.

-The median sales price was $220,000, down 21 percent from March 2007. The median price also took a dip back down from February, when it had bumped up to $237,000.

- "Distressed listings", defined as bank-owned properties, short sales and corporate-owned (relocation sales), made up over half of the 3,529 properties listed in Bakersfield.

"Distress listings continue climb thus causing further downward pricing pressure on the market," Crabtree writes in an e-mail.

Click on the blue icon to see the numbers for yourself, along with others such as average sales price and pending sales.

-Vanessa Gregory, staff writer

When you raise your daughter amid the constant dirt and sweat of the landscaping trade, don't be surprised when she turns the other direction and runs straight into the arms of the flower industry.

It's what happened to Diana Klawitter and her husband, who have run their own landscaping business for about the last 15 years and now have plants spanning 3.5 acres. When it came time for their daughter, Amanda Sanders, to select a career, she chose — well, you guessed it: floral design. (These kids today!)

Not that her parents tried to stand in the way. In fact, mother and daughter recently opened a florist together: A House of Flowers, located downtown at 1827 F St., near the intersection with 18th Street. They launched just before Valentine's Day (we're not sure why) and plan to host a ribbon-cutting ceremony at 2 p.m. Tuesday, April 8.

The store specializes in weddings, but that's only part of what goes on there. Centerpieces for charitable events, funerals, FTD — it's a full-service florist. The hours are 9 a.m. to 5 p.m . Monday through Friday, and on Saturday by appointment. For details, call the store: 326-7000.

(Don't miss the store's Web site, by the way.)

People in Business is the place for a shout-out to people who've earned promotions, earned a professional designation or otherwise achieved. 

Check out this week's list. 

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It's kinda remarkable how much money is evaporating from failed mortgages.

We counted about $2.1 million gone -- poof -- one day last week from Kern County foreclosures alone.

Imagine that expanded to include all the troubled markets around the country. Imagine that happening every business day.

That's a lot of dough.

Here's a link to our story (details on each property we studied are in the attached links, as well as some past foreclosure-related stories):

http://preview.bakersfield....

This was a bit wonkish so hopefully it's clear. If not ask a question and I'll get back to ya next week.

Basically we noticed lots of bank-owned homes were being sold back into the market -- enough to provide a peek at how much lenders lost.

Have fun browsing!

-- Gretchen Wenner, staff writer

Everyone's on this story ...

The Today Show had a segment this morning on foreclosures and possible deals at real estate auctions. 

Check out some of the coverage here.

(They also have some videos.)

They all have a useful list of warnings on the 10 mistakes home sellers make.

— Christine Peterson

Click on the blue icons and check out the CRAZY purple lines on these graphs.

Foreclosures were at a record-high again in March, according to the latest statistics from the Kern County Recorder’s office.

The county recorded 638 property foreclosures last month — a tally exceeding any single month as far back as January 1995, the first date on the county’s report.

The figure is up 8.8  percent from February, when 586 foreclosures were recorded.

Notices of default, which indicate missed mortgage payments and are the first legal filing in the foreclosure process, were also at an apparent high of 1,259, up 158.5 percent from the same month in 2007.

Last year, 8,651 default notices and 3,007 foreclosures, were recorded in the county, according to the recorder’s office.

Find more property transaction stats, including the number of deeds recorded last month, at the recorder's Web site.*

-Vanessa Gregory, staff writer

*I know normal people don't spell Web site like this, but it's AP style. So I must.

Here's a "raw report" press release from the Greater Bakersfield Chamber of Commerce:

You are invited to attend an informational Meeting about the GBCC Trip to Ireland
 
Thursday, April 10, 2008
5:30-6:30 P.M.
At the Chamber, 1725 Eye Street
 
The nine-day trip in October blends business and leisure, with a variety of trips to legendary locations. To RSVP, e-mail tsterling@bakersfieldchamber.org or call 661-327-4421.

For additional details, click here.

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Talk to gas station owners, and they'll tell you one thing: Not them.

They say they have a small, if any, profit margin on the gas they sell. They make their money by peddling other items. (You'd be surprised at some of them.)

That's what we found talking to owners here, and the Associated Press found in other parts of the country, too.

Read the report.

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A new bar is slated for northwest Bakersfield.

It's called the Tilted Kilt Pub & Eatery.

A fellow editor here was looking for some info on the Kern County Scottish Society’s 13th annual Gathering and Games at Stramler Park coming up in Bakersfield this weekend and stumbled on the eatery's Web site. No kidding. He noticed Bakersfield was named in a list of cities set to get one of the bars.

We checked it out. Here's what reporter Courtenay Edelhart reports after talking to one of the guys who is involved:

"'I just thought it would be a fun sports bar for the community to enjoy,” said Jeremy Helper, 27, who is one of three private investors planning to open the Tempe, Ariz.-based chain’s 11th store in July.

It’s to be located at the Northwest Promenade at 2900 Calloway Drive.

Read Courtenay's full report.

Will you be going?

— Christine Peterson

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Bakersfield's getting a Club Libby Lu, which parents in the know tell me is quite cool if you have tweens in your home. (Check out the Web site. Pink and sparkly and princessy. Is that a word?)

Here are the basics from reporter Courtenay Edelhart's story:

"Valley Plaza Mall on Ming Avenue is getting a Club Libby Lu. That’s a store shamelessly packed with pink and glitter where girls in the neighborhood of 6 to 12 years old can get makeovers, buy dress up clothes and accessories, decorate customized plush toys and hold theme parties.

The store is opening April 14, and girls so inclined can get free makeovers April 15-18. Alas, accessories and Hannah Montana and Sharpay wigs are not included in the freebie."

Read her full report.

Will you be going?

— Christine Peterson

It's under discussion. Castle & Cooke will go before the Bakersfield Planning Commission on the matter Thursday night.

Read reporter Jenny Shearer's story here. She'll continue updating the details throughout the day.

What do you think?

Here's a "raw report" press release from the Franchise Tax Board. (They'd like you to pay your taxes on time, and correctly!)

Last Minute Filing Tip: Tax Errors Can Cause Major Delays to Your Refund
 
With two weeks left before the April 15 tax deadline, the Franchise Tax Board (FTB) today offered last minute tips for taxpayers and outlines the top 10 tax filing errors that delay refunds.
 
“There is time left for even the most complicated returns, and we offer a number of tools that can help you speed up your refund and prevent errors in the filing process,” said State Controller and FTB Chair John Chiang. “A taxpayer can file his or her return online today and have a refund in the bank well before April 15.”
 
Speed Up Your Refund
Taxpayers who file online and have their refunds issued by direct deposit often get refunds within a week. Paper returns requesting check-issued refunds will take six to eight weeks.
 
Avoid Common Errors
The 10 most common errors include:
1) Estimated Tax Payments – Claimed amounts do not match FTB records.
2) Payments and Credits – Amounts either incorrectly added or subtracted from total tax.
3) Withholding Credits - Amount of withholding claimed does not match W-2s.
4) Estimated Tax Transfer – Incorrect refund amount transferred from previous tax year.
5) Excess State or Voluntary Plan Disability Insurance (SDI/VPDI) -- Excess amount is not substantiated.
6) Exemption Credits – Claimed amounts miscalculated due to income limitations or computation errors.
7) Amended Returns - Incorrect amounts transferred from original return to amended return.
8) Tax – Wrong amounts selected from the tax table on paper returns.
9) Renter’s Credit – Wrong amounts claimed for filing status, income limits exceeded, or not qualified due to residency status.
10) Deductions – Incorrect amounts claimed for standard or itemized deductions.
 
FTB’s new “My FTB Account” service can help taxpayers avoid many of these errors by allowing them to view their estimated tax payments, California wage and withholding information, and other useful information online. Electronic filing programs, like CalFile and ReadyReturn, also catch many errors before the return is submitted.
 
Need Extra Time?
California automatically gives taxpayers a filing extension on their state returns to October 15. But if you owe tax this year, make sure you pay that amount by April 15 to avoid interest and penalties. If you can’t afford to pay by April 15, you can request a payment plan online. You will generally qualify if you owe less than $25,000 and can pay your taxes within five years.
 

LIUNA, the Laborers International Union of North America, is spritzing media today with announcement of its "Pigs at the Trough" tour to protest what it calls taxpayer bailout of homebuilders.

Today's releases say the tour is starting at the annual shareholder meeting of KB Home', a Los Angeles-based homebuilder with some projects in Kern County.

We don't know if they're wearing pig costumes, but here's a link to the release:

http://www.marketwatch.com/...

And I'm trying to post their chart claiming 46% of a Senate bill to help troubled homeowners is going to corporations.

Is this a bailout for fat cats, as the union claims?

-- Gretchen Wenner, staff writer

Parade’s annual “What People Earn” comes out Sunday, April 13.

A reader favorite, it includes photos of people — everyone from CEOs to tow-truck drivers — plus their name, age, city of residence and annual pay.

We’re preparing our own list of Bakersfield and Kern County wage-earners for the same day.

Would you like to be included?

Send an e-mail with the above information and a mug shot to reporter Courtenay Edelhart at cedelhart@bakersfield.com. Be sure to include a phone number so we can reach you with any questions.

Come on, you know you want to share ...

— Christine Peterson

Local real estate broker Michael Marlowe has penned an opinion piece about now being a  good time to buy real estate.

Fear is keeping people out of the market, Marlowe writes. "Although (prices) may not be totally done dropping, I think we are nearing the point where it will stabilize," Marlowe writes.

What do you guys think? Is now the time to make your move as a buyer? Are prices near some kind of stable level?

-Vanessa Gregory, staff writer