It appears a deal has been reached on the California Budget. It has no tax increases and will require only a majority of Democratic-led legislature to approve it. A tax measure will be put on the ballot in November, 2012, through a voter initiative, bypassing the requirement for Republican consent. It looks like the voters will decide on the extension of personal income and sales taxes. The budget might be balanced but there are a lot of services that will be eliminated or seriously slashed; it comes down to this – if you want/need the services, you need to pay for them.
Lynn Woolsey, our Democratic Rep. in Congress, announced she will not seek re-election at the end of her term, 2012; she is retiring. So stay tuned to see who will be running for her seat she has held for 20 years.
As private money lenders, we are funding a new loan for $ 450,000 secured by improved property in Sonoma County. This investment will net our lenders 9.0% on a Loan-to-Value of 35%. We are seeing some very good loan requests so look at our website. To see loan profiles go to Private Money Investing, then Individual Opportunities, then finally click on Opportunity Profiles.
Coming up will be a long weekend so check out the different happenings: 7/2, Fireworks over Bodega Bay (707-347-9645); 7/3, BR Cohn Winery Charity Car Classic (800-330-4064); 7/4 Redwood, White & Boom, Santa Rosa (707-545-4200). Enjoy and Be Safe.