REAL ESTATE SNAPSHOT | FEB. 2012

Bonneville County

Active listings in January-February 2012 were 309 compared to 270 in 2011.
 
There were 143 closings compared to 107 the previous year.

Median price of sold homes was $123,125 in compared to $145,125 in 2011.

There were 149 new properties under contract in February 2012, up 21% from February 2011.

Year-to-date closings were 33.6% above January-February 2011.

Median price of sold homes was 17.8% below January-February 2011.
                                        
                        2007          2008          2009          2010          2011          2012 
UNITS SOLD               242            169            108            103            107            143
MEDIAN PRICE          $146,700   $160,450   $152,225   $144,750   $145,125   $123,125
NEW LISTINGS           273            318            342            427            270           309
DAYS ON MARKET    101            102            125            109            114           133  

Source: Snake River MLS

Ball Ventures hires new asset manager

Tahri Molifua

Tahri Molifua has joined Ball Ventures as an asset manager. He was most recently with The Richman Group, a large, privately held multi-family residential property owner. As an associate, he performed acquisition and property management for the company's Orange County team.

He attended Brigham Young University - Idaho,  where he majored in communications, then went on to study at Cornell University, where he received an MPS Real Estate degree. He returns to Idaho with his wife, Kehaulani, and their three children.

FleetPride buys out Trane's Diesel

FleetPride, Inc., the nation's largest independent aftermarket distributor of heavy-duty truck and trailer parts, announced Monday that it has acquired the assets of Trane's Diesel Service, Inc. in Idaho Falls. This acquisition includes a 23,000-square-foot facility with 14 service bays located at 683 East Iona Road.

Trane's Diesel is a full-service repair, maintenance, service and parts facility founded in 2002 by Cal Trane and his sons Joel and Andy Trane. Cal Trane will stay on in a consulting role and both Joel and Andy Trane will join FleetPride in management roles. Employment offers were extended to all employees.

The company recently acquired six other locations in Idaho and Utah. "This is a well-run business in a location FleetPride has been interested in for some time," said Lee Stockseth, FleetPride's chief operating officer.

A sweet surprise from the past

I could sing the praises of Sarah's Candy Cottage for any number of reasons -- the truffle and fudge samples, the dozen-plus different kinds of licorice -- but nothing compares to the excitement I felt last month when I discovered they had Bonomo Turkish Taffy.

"I thought they stopped making this years ago!" I thought, as I loaded up the bucket with the individually wrapped pieces.

Based on my rhapsodizing about the Slurpee in a previous post, you've probably figured out that anything sweet from my childhood is going to get me going pretty good. As many Baby Boomers can attest, Turkish Taffy is probably best remembered for the way we smacked a bar of it in its foil wrapper against a tabletop or sidewalk. Harder than salt water taffy, it could keep you occupied for a while and take a few fillings from you in the bargain.

Turns out it did disappear in the 1980s, after Hershey's bought Bonomo, monkeyed with the formula and renamed it. It was resurrected in 2010 by some fifty-somethings with fond memories. Here's to them, and here's a link to a story than ran in Fortune Magazine: http://features.blogs.fortune.cnn.com/2010/10/27/bonomos-turkish-taffy-returns/

Contractor seeks subcontractor bids for BYU-Idaho apartment project

The 43-unit apartment, as rendered above, will be at West Fourth South and South Fourth West.

Brigham Young University-Idaho is building a five-story, 43-unit apartment project to be used as women’s housing.

Headwaters Construction is seeking subcontractor bids by March 22 for Birch Legacy Apartments, an off-campus project planned for West Fourth South and South Fourth West streets in Rexburg.

Headwaters, which is based in Victor and has a Rexburg office, has built other housing for BYU-Idaho, including a larger complex completed in December for women.

“They have asked the community to come up with housing,” Headwaters President Stan Marshall said. “They are basically increasing enrollment as housing is built.”

Project architect Douglas Gibson, of Eagle-based DG Group Architecture, said the site is in a Rexburg zoning overlay district that calls for higher-density residential uses and pedestrian access close to the BYU-Idaho campus.

The apartments will be owned by The Pacific Companies and Braintree Development, both of Eagle, and Rexburg resident Trent Birch.

Construction on the $5.5 million, 75,000-square-foot building will start in April and is expected to take about a year. The complex will have exercise and tanning rooms, common-area meeting space, a media room, and on-site storage for each unit, Gibson said.