Archive for May, 2009
Documentary will show rehab of rescued horses.
On Sunday at 6 p.m., just one day after the 135th running of the Kentucky Derby, ETV presents the Palmetto State premiere of “Homestretch: Racehorse Rescue.”
Directed and produced by Sheri Bylander, the documentary will air an encore presentation on Thursday, May 14 at 9 p.m.
While the excitement of horse races attracts thousands of fans and brings in billions of dollars each year, what happens to racehorses who are past their prime and are no longer winning? “Homestretch” reveals the often tragic fate of retired racehorses but also tells the redemptive story of how these horses are rescued from slaughter and then rehabilitated by a most unlikely group of saviors: prison inmates.
Through innovative prison-based programs across the country, “Homestretch” reveals how prisoners and former racehorses are given a new lease on life. These lush and expansive prison-owned farms provide a stunning backdrop for the imprisoned men who are taught how to care for the retired horses. Over time, the men master practical skills that can be readily applied in equine and other industries upon their release.
One such farm featured in the film is at Wateree River Correctional Institution near Camden. Viewers see the heartwarming finale to the story of King’s Honor, a prominently pedigreed racehorse who was rescued from the grueling Oregon racing circuit by the film’s executive producer, John Rainey.
Alluding to his staunch belief in the transformative power of redemption, Rainey explained the deep connection he witnessed between men and animals in the documentary.
“Where there had been a loss of humanity, humanity was restored. And where indeed there may have been no humanity, humanity was in fact kindled by this relationship between horse and man.”
The hour-long documentary takes a sympathetic look at the bond between two groups that society seems to have given up on – aging horses and convicted criminals. From abuse and neglect to inhumane slaughter auctions where these stately creatures are sold, this program offers an eye-opening glimpse behind the scenes of the world of end-of-term racehorses. Juxtaposed to the shocking reality of the animals is the life-changing respite that the incarcerated men experience through their unique relationship as caregivers for these animals.
Throughout this poignant story of healing and renewal, “Homestretch: Racehorse Rescue” explores the power of kindness and courageousness through contemporary racing footage and interviews with prisoners, horse owners, trainers and jockeys.
For more information visit www.scetv.org.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
How to Size Up an Investment Property
When you’re evaluating a potential property investment, it’s important to consider the cash flow and ROI. Here’s how.
If you’re thinking about buying your first real estate investment, there’s good news. There are lots of good deals out there. But even if a deal looks to good to resist, you need to be sure you have a firm understanding of the two significant elements that determine profitability: cash flow and return on investment (ROI). Otherwise, it’s very easy to misjudge just how profitable the property will be.
Expenses vs. Revenues
Cash flow is extremely important because it dictates whether the investment will cost you out-of-pocket money or put money back in your pocket on a monthly basis. To determine monthly cash flow, you must consider all expenses related to the property and then subtract this from the revenue being generated.
Finding the obvious expenses is pretty easy, but you may have to do some digging to uncover the not-so-obvious expenses. These line items are real and can significantly impact your monthly cash flow, so don’t leave anything out. They can include:
* Vacancy-rate impact
* Replacement equipment
* Maintenance
* Advertising
* Tenant repairs
* Payment delinquencies
After you subtract all expenses from the revenue, you’ll know whether you’ll be making money or paying money. You may ask yourself: Why would I involve myself in an investment that is going to cost me out-of-pocket money? This brings us to the next important variable when evaluating your real estate investment decision: return on investment (ROI).
What Is ROI, Anyway?
First, the technical definition: the rate of return based on an initial investment that generates a cash annuity for a specified time period. Now, in plain English: ROI is basically the money going out (including your initial investment) banked against the cash flow that the property will generate in a given amount of time. This creates a net cash flow stream, and your return percent is calculated off of this figure.
Keep in mind that when compiling these cash flows, you must include all expenses related to the property, and the revenue stream must include all monetary benefits derived from it as well. ROI is heavily determined by the initial investment, because that is most likely the largest cash outlay related to the investment. All other variables held constant within the same scenario dictate that the bigger the down payment, the less return you will have on the investment.So a new question emerges: If my return is less, why would I put a larger amount down? You must consider the trade-off between the amount of the down payment and the monthly cash flow. The more you put down, the more likely you are to have a positive cash flow — the investment paying you dividends. There is a fine balance between cash flow and ROI. Depending on your current and future financial goals, you can determine the best scenario that suits your needs. In order to attain this balance, you must have the knowledge and skills to determine the best scenario.
Whether your goal is to generate an annuity stream, prepare for retirement or create a college fund, real estate investments can be an excellent place for your money, if you do it right. With interest rates at record lows, profitable inventory and opportunities throughout the nation, it may be time for you to invest in property.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
S.C. foreclosure laws, tenants rights and eviction laws
South Carolina uses a judicial foreclosure process. To begin the process, a lender must file a notice of pendency (lis pendens) against the homeowner with the clerk of the county in which the property is located. If the debt is not satisfied within the time specified by the court, the lender may file a Notice of Foreclosure. The lender must personally serve the homeowner with the Notice of Foreclosure.
The court then gives the homeowner an additional amount of time to pay the debt.If the homeowner does not pay the debt, the court can then render the judgment against the borrower and at the same time enter an order of sale of the property.
Once the sale is scheduled, a Notice of Sale must be sent to the owner. The Notice of Sale states the date, location, and other details of the sale. The Notice must also be posted at the county courthouse and published in a local newspaper once a week for 3 weeks up to the sale.
Once the sale occurs, the owner has 30 days to get an appraisal for the property. If the appraisal is higher than theamount that the property sold for at the auction, the appraisal value will be substituted for the high bid amount. The borrower remains personally liable for any amount still owed after the foreclosure sale.
Tenants have no legal rights in foreclosure proceedings and no right to notice and time frame.
Eviction Process
South Carolina does not specifically outline tenant’s rights in a foreclosure proceeding. In general, a landlord may bring an action against a tenant by applying to a magistrate in the following situations:when a tenant fails to pay rent when it is due, when the term of the tenancy or occupancy has ended, and when the terms or conditions of the rental agreement have been violated.
A landlord must first deliver notice to the tenant that an eviction has been sought (this is called a Rule to Show Cause).The Rule to Show Cause will contain information regarding the case.
A tenant will have 10 days to answer the charges the landlord has made against the tenant, and a hearing will be set to adjudicate the case.
In the event the tenant loses the case before the magistrate, a Writ of Ejectment will be issued within five days of the hearing that sets forth the date the tenant must vacate or else be removed by the sheriff.
Eviction Timeframe
Because a hearing is required to effect an eviction, the timeframe is likely to vary from case to case.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Hopelands concert series begins today.
The Aiken Community Band will kick off today’s opening performance of the Hopelands Summer Concert Series.
The hour-long concert will take place on the Roland H. Windham Performing Arts Stage at Hopelands Gardens at 7 p.m.
The first performance is being sponsored by Security Federal Bank.
The Aiken Community Band is an 80-plus member concert band with musicians from the Aiken area along with faculty and students from USC Aiken.
The band is under the direction of Col. Gary F. Lamb, a retired commander and conductor of the U.S. Army Band (Pershing’s Own) in Washington, D.C. Lauren Meccia, band director at USC Aiken, will join Lamb in leading the band.
Hopelands Summer Concert Series will continue through Aug. 31. Admission to the concerts are free. Residents are invited to bring along blankets, lawn chairs and refreshments to the events.
Parking is available at Rye Patch on Berrie Road and at the Green Boundary on Whiskey Road.
In the event of rain, the concerts may be held at the H. Odell Weeks Activities Center at 1700 Whiskey Road in gym 2 whenever possible.
The City’s Parks, Recreation and Tourism Department is asking that arrangements be made at least 72 hours in advance for those who are disabled or those who need additional accommodations.
For more information or in the event of rain, call 643-4661.
Freddie Mac’s refinance policy drawing fire.
Brokers, small lenders say they are being cut out of Obama’s plan
WASHINGTON – Mortgage brokers and small lenders say they’ve been left out of a big part of the Obama administration’s plan to help borrowers refinance their home loans and take advantage of near record-low interest rates.
The new guidelines released earlier this month are different for Fannie Mae and Freddie Mac, the government-controlled companies that own or guarantee almost 31 million mortgages — more than half of all U.S home loans. Most strikingly, mortgage loans held by Freddie Mac can only be refinanced by the company that currently collects payments on the loan, known as the mortgage servicer. Full Article.
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Make plans for Saturday’s Herb Faire
The first weekend of May brings with it an afternoon of fun in the sun at the Montmorenci Spring Herb Faire.
This spring’s Herb Faire is scheduled for 9 a.m. to 2 p.m. Saturday at the historic home Pascalina. Pascalina is located at 3250 Charleston Highway (U.S. Highway 78) in Montmorenci and has been home to 19 of the annual spring and fall Herb Faires so far, according to festival organizer Linda Oswald, daughter of Pascalina’s owner, Jackie Heath.
“We were having so much fun with our herb gardening that we wanted to share it and educate the public about growing herbs,” Oswald said. “After a couple of years, we started inviting vendors with the same theme as the Faire to come in with us. We try to focus on herbs, gardening and natural handmade things.”
Regular visitors to the Herb Faire can expect to see some of their favorite things: pastries from the Mennonite bakers, locally made goat cheese, local pottery, a blacksmith and plants and herbs for sale. A few new vendors will be at this spring’s event, a maker of herbal bath soaps and a woodworker among them. New vendors include a potter, a rag rug maker and a knitter who works with handspun fibers.
Oswald said she and her brother are making plans for a new vegetable and herb garden on the Pascalina grounds, a small garden based on Community Shared Agriculture garden plans.
Admission to the Herb Faire is free.
“Every year it grows more and more. We’re up to between 900 and 1,100 people each time,” Oswald said.
For more information about the Spring Herb Faire, call 646-3774 or 649-6518.
Contact Suzanne Stone at sstone@aikenstandard.com.