Louisa Millington

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Lake Front Steal at $1,599,000

Rotary Talent Contest Seeks Musicians

January 31, 2012

A talent show featuring high school musicians will be staged at Rim High School on Thursday, February 16, sponsored by local Rotary Clubs. (Photo by Zamilia/Creative Commons)

By Michael P. Neufeld

Lake Arrowhead, CA – The call for entries in the 2012 Rotary Music Competition is out, with high school musicians sought in three categories — vocal, piano and other instrumental. Cash prizes will be awarded to first, second and third place winners in each category.

Entries — due by Friday, February 10 — must be on the official application form and include the teacher or director’s signature, the signature student’s parent, and the signature of each entrant signifying they are available to participate at the finals.

The actual competition, featuring the high school musicians, will be held on Thursday, February 16, at 6:30 p.m. at Rim High’s Performing Arts Center. The free event is open to the public.

THE PRIZES

There will be three winners in each category as well as an overall talent winner.

The winners of the piano competition can win up to $100 in cash.

First place in each category will receive $100 each, courtesy of local Rotary Clubs.

The overall winner will be presented an additional $100 cash prize.

First place winner in each category may be selected to go on to District 5330 finals competition, to be held at Frederick Lowe Hall at the University of Redlands. Instrumental winners will compete on Saturday, March 24. Piano winners will face the judges on Saturday, April 21 and vocal winners on Saturday, March 17. First place in each category will be $1,000.

First place in the instrumental music category will receive $100. (Photo by Giacomo Ritucci/GNUFDL)

Contestants must be high school students, who are in public or private school, home school or independent study.

Vocalists must perform songs from musical theater or classical music. Piano or instrumental contestants must perform one piece of classical music.

Students are responsible for bringing their own accompaniment, i.e. their own accompanist, CD or music player.

ADDITIONAL INFORMATION

Complete rules, and dates of additional competitions, are available when students obtain the application form for the local contest.

Call/Text (909) 338-584o or music@rimrotary.org for complete information

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January 10, 2012 Date/Time Event 01/10/2012 5:30PM - 7:00PM   LACCC Board of Director's Meeting Lake Arrowhead Fire Station, Lake Arrowhead CA   January 31, 2012 Date/Time Event 01/31/2012 5:00PM - 7:00PM   Annual Membership Meeting UCLA Conference Center, Lake Arrowhead CA   February 4, 2012 Date/Time Event 02/04/2012 10:00AM - 11:00AM   Annual Polar Bear Plunge! Lake Arrowhead, Lake Arrowhead CA   02/04/2012 5:00PM - 9:00PM   "One Outstanding Event" honoring our Citizens of the Year - Neale and Patricia Perkins Lake Arrowhead, Lake Arrowhead CA   February 23, 2012 Date/Time Event 02/23/2012 5:00PM - 7:00PM   LACCC February Mixer! Lake Arrowhead Resort & Spa, Lake Arrowhead CA   March 15, 2012 Date/Time Event 03/15/2012 5:00PM - 7:00PM   LACCC March Mixer! Blue Jay Village, Blue Jay CA   April 26, 2012 Date/Time Event 04/26/2012 5:00PM - 7:00PM   LACCC April Mixer! Lake Arrowhead County Club, Lake Arrowhead CA   May 6, 2012 Date/Time Event 05/06/2012 12:00AM - 12:00AM   Rim Education Foundation is hosting "Fashion Show with Jazz" Lake Arrowhead Country Club, Lake Arrowhead CA   May 17, 2012 Date/Time Event 05/17/2012 5:00PM - 7:00PM   LACCC May Mixer! Jensen's Finest Foods, Blue Jay CA   June 9, 2012 Date/Time Event 06/09/2012 - 06/10/2012 9:00AM - 4:00AM   Annual Antique & Classic Wooden Boat Show Lake Arrowhead, Lake Arrowhead CA   June 23, 2012 Date/Time Event 06/23/2012 - 06/24/2012 9:00AM - 4:00AM   Annual Home Improvement Expo! Lake Arrowhead, Lake Arrowhead CA   06/23/2012 - 06/24/2012 10:00AM - 5:00AM   Annual Art & Wine Festival hosted by Lake Arrowhead Rotary Club! ALA's Tavern Bay Beach Club, Lake Arrowhead CA   June 28, 2012 Date/Time Event 06/28/2012 5:00PM - 7:00PM   LACCC June Mixer! Urban Electric , Blue Jay CA   July 17, 2012 Date/Time Event 07/17/2012 10:00AM - 2:00AM   Annual Women's Health Fair! Mountains Community Hospital , Lake Arrowhead CA   July 26, 2012 Date/Time Event 07/26/2012 5:00PM - 7:00PM   LACCC July Mixer! Prudential Real Estate, Lake Arrowhead CA   August 23, 2012 Date/Time Event 08/23/2012 5:00PM - 7:00PM   LACCC August Mixer! Agua Fria, Agua Fria CA   September 14, 2012 Date/Time Event 09/14/2012 6:00PM - 9:00PM   LACCC's Annual VIP Event! Lake Arrowhead, Lake Arrowhead CA   September 15, 2012 Date/Time Event 09/15/2012 9:00AM - 5:00AM   LACCC Annual Home Tour! Lake Arrowhead, Lake Arrowhead CA   September 27, 2012 Date/Time Event 09/27/2012 5:00PM - 7:00PM   LACCC September Mixer! Arrowhead Pine Rose Cabins, Twin Peaks CA   October 18, 2012 Date/Time Event 10/18/2012 5:00PM - 7:00PM   LACCC October Mixer Lake Arrowhead, Lake Arrowhead CA   October 25, 2012 Date/Time Event 10/25/2012 5:00PM - 7:00PM   LACCC October Mixer! Lake Arrowhead, Lake Arrowhead CA   November 15, 2012 Date/Time Event 11/15/2012 5:00PM - 7:00PM   LACCC November Mixer! Lake Arrowhead, Lake Arrowhead CA

  

Own Vs. Rent Riles Government Housing Policy

Published: Thursday, 2 Feb 2012 | 11:43 AM ET

Text Size By: Diana Olick
CNBC Real Estate Reporter

Jupiterimages | Comstock Images | Getty Images

Fannie Mae and Freddie Mac, the mortgage giants under government conservatorship, together owned 182,212 foreclosed properties as of the end of September.

While they aggressively market and sell these homes to investors and owner-occupants alike, the numbers are still too high; these number could go far higher, as foreclosures previously stalled by paperwork issues come back into process.

That’s why the federal regulator overseeing the two is launching a bulk sale program, offering investors the chance to buy foreclosed properties at a discount, as long as those investors turn the properties into viable rentals for a specified number of years.

“This rental period could provide relief for local housing markets that continue to be depressed by the volume of foreclosed properties, and provide additional rental options to certain markets,” according to a release from the regulator, the Federal Housing Finance Agency (FHFA).

The FHFA launched the initial phase of pre-qualification. Investors must prove they have “(a) the financial wherewithal to acquire the assets; (b) sufficient experience and knowledge in financial and business matters to analyze and bear the risks of the investment opportunity; and (c) agreement to keep certain information about the REO [Real Estate Owned, i.e. bank owned] and related matters confidential.” That last part is to keep the prices competitive as the market starts to improve.

Giving investors the opportunity to help clear the massive amount of distress in the housing market is crucial. The inventory of foreclosed properties is large, getting larger, and making it impossible for the overall market to achieve price stability. Witness a report today from CoreLogic which shows that home prices in December fell 4.7 percent year-over-year including sales of distressed properties. Excluding those properties, home prices fell less than one percent.

Some, however, think the program is a negative:

"People are brainwashed to think foreclosures are a bad thing for the housing market. Perhaps four years ago when a million loans all went into default and Foreclosure at the same time but not today. Today, 1st timers and investors -- with an insatiable appetite for foreclosures, REO resales, and short sales -- are the bedrock of this housing market." – Mark Hanson, Mortgage Analyst

"Foreclosed homes are already meeting strong demand from investors when they come to market. We think these buyers are willing to pay a relatively full price, as they know the specific locations, and a large number of buyers have the ability to bid on the individual homes (doesn’t require significant capital)… Additionally, it will be difficult/expensive for investors to scale up operations given the broad geographic dispersion of properties vs. more traditional rental units, potentially limiting participation." – Dan Oppenheim, Credit-Suisse

Oppenheim also asks a valid question as to why the government would offer discounts to large investors buying in bulk, but not to individual investors buying perhaps a single property. There are plenty of Americans out there salivating over incredibly low-priced homes; rental income could be as much of a boon to them as perhaps a tax cut or a refinance.

It was interesting yesterday, during his speech touting a proposed new government mortgage refinance program, President Obama, caught up in the moment, exclaimed, “No more renting!” Putting aside the public relations blunder that was, given the fact that the FHFA had announced its REO to rent program not two hours before, it just drove home the conflict our government has between what it thinks Americans want to hear and what our economic reality dictates.

A few simple facts: There is not enough buyer demand to meet the number of homes for sale. A huge number of the homes for sale are empty, foreclosed properties. Too many Americans either cannot afford to buy a home or do not have the credit necessary to finance a home. Too many Americans cannot afford to sell their current homes in order to move or step up to a larger home. Rental demand is therefore strong and getting stronger.

While homeownership may be a tenet of the “American Dream,” renting is today’s actuality for a growing number of Americans. Whether it is large investor bulk programs or single investor incentives, adding to rental supply, thereby lowering rents, while at the same time clearing the market of foreclosed properties is a win. It may not be as politically palatable as offering “responsible” borrowers a veiled tax credit in the form of a mortgage refinance, but it is good medicine for what ails housing.