Idaho ranks fourth in nation in housing price resurgence

Stock prices jumped sharply this morning on the news that U.S. home prices had jumped 10.9 percent in March compared to a year ago, the biggest surge since April 2006.

At the end of the first quarter, prices across the nation rose 6.7 percent, with Nevada, Arizona and California leading the charge, and Idaho coming in fourth, largely due to a big rebound in the Boise-Nampa Metropolitan Statistical Area.

The Federal Housing Finance Agency reported prices of existing single-family homes in Idaho rose 15 percent in the past year, the fourth-highest rate of appreciation from the first quarter of 2012 to the first quarter of 2013.

While Boise/Nampa posted the state's biggest yearly upturn -- 10.17 percent -- ranking fifth in the nation, Idaho Falls was not so dramatic, showing an uptick of .57 percent, and Pocatello home prices rose a modest Pocatello, 1.23 percent.

Before anyone in this part of the state gets too jealous, consider this:

• If you bought a $150,000 home in Boise in the first quarter of 2006, it would be worth $118,550 today.

  

  A line graph indexing Boise home prices from 2006 to 2013

• If you bought a $150,000 home in Idaho Falls in the first quarter of 2006, it would be worth $150,705 today.

  

  A line graph indexing Idaho Falls home prices from 2006 to 2013

I learned this by using the FHFA's Housing Price Index calculator, which can be found here: Housing Price Index Calculator.

The FHFA House Price Index is calculated using the purchase prices of homes with mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. "The FHFA index further reinforces that Idaho's economy and housing markets have stabilized and are improving," said Gerald M. Hunter, president of the Idaho Housing and Finance Association, in a press release.

Entrepreneurs prepare to participate in TechLaunch 10.0

Up-and-coming Idaho entrepreneurs will soon compete for up to $50,000 in cash prizes as Idaho’s next Entrepreneurial Idol and Crowd Pitch crown this year's recipients.

Hosted June 13 at the WaterCooler and the Linen Building in Boise and June 14 in the Skaggs Hall of Learning at Boise State University, entrepreneurs and innovators around Idaho and the region are preparing to compete in TechLaunch 10.0. The two-day event will include two different competitions:

• The Entrepreneurial Idol Competition is evaluated by a distinguished panel of judges who have all excelled in their particular fields and bring a wealth of knowledge regarding early stage financing to the event.  This year’s format will consist of semifinal and final rounds with prize money totaling $50,000.
• The Crowd Pitch, TechLaunch’s second event, is an elevator pitch competition that provides an opportunity for individuals to deliver their innovative ideas to TechLaunch attendees and compete for prize money.

In its tenth year, TechLaunch is designed to educate and provide a stage for entrepreneurs and innovators to practice and hone their pitches in front of the business/investment community.  Over the past nine years, TechLaunch has introduced many great companies to the intricacies of early stage financing.  Of the 72 companies that have previously participated, 55 are still in business and continue to grow and receive research, development, and investment capital.

Students and aspiring entrepreneurs are encouraged to attend this event to learn the complexities of product commercialization, start-up financing, and networking with industry leaders. Attendees have the option of registering for the reception, the competitions, or both. For more information, please contact Rick Ritter at (208) 908-0625 or rick.ritter@idahotechconnect.com.  Additional information is available at www.idahotechconnect.com/home/techlaunch.

Auditorium district files plat for events center

The 22 acres where the event center will be located is shaded in grey.

We've been getting questions now and then about the status of the Idaho Falls Events Center. The project moved one step closer to breaking ground this week when it submitted a plat to the city of Idaho Falls.

Once the plat is approved, the people behind the project can file site and building plans and begin work on the project, which Idaho Falls voters gave the go ahead to in May 2011. Last winter, when the Idaho Falls Auditorium District named Centennial Management Group to operate the center, CMG President Kevin Bruder said they expected to break ground in May. Obviously that hasn't happened, but when it does the construction is expected to take 18 months.

Plans for the center include a hockey area, shopping area, restaurants, conference center and concert venue. It will be located on 22 acres at Snake River Landing, south of Pancheri Drive, with a road that runs between Pioneer Road and Snake River Parkway serving as the main access.

Partial funding of the project comes from a 5 percent hotel and motel bed tax that voters approved in May 2011.

For more information, visit this link: Idaho Falls Event Center.

Swagger boutique plans move, expanded hours

Swagger, a women's boutique that opened last year in Idaho Falls at 537 West 20th Street, will be moving and opening June 6 at 2177 E. 17th Street.

Owner Shantell Goodenogh said the new store, next to Planet Beach, will give them more space and a more visible location. Instead of only Thursday, they will be open three days, Thursday and Friday from noon to 6 p.m. and Saturday from 11 a.m. to 3 p.m.

Tucked away where they were they didn't have much visibility, and they got in trouble with the city of Idaho Falls when they put a freestanding sign on Rollandet. Nevertheless, they have built a loyal clientele that they expect to follow them to the new store.

Swagger offers affordable-but-chic dresses, tops, jewelry and accessories by smaller companies including L.A. Idol, Antique Rivet, Request and Judy Blue. Limited availability is part of the appeal, Goodenogh said.

"When you buy something from us, you're not going to see other women wearing it," she said. "I might order six items, and when they're gone they're gone."

Their Facebook page, an important part of their marketing, can be found at Swagger. For more information, call (208) 390-8527.

Dad's plans to have new station open by August

The ground at Hitt and Yellowstone where the new Dad's Travel Center is to be built.

Dad's Travel Center will be moving across Hitt Road in August to a 47-acre site they have been planning for years to develop.

The 3,000-square-foot store will be a miniature version of what they have south of Idaho Falls at Exit 113, said Kevin Bird, the company's general manager. They were originally planning to develop the site in 2007, but when the economy went into recession they decided to hold off. But as they neared the expiration of the 10-year lease on the store at Hitt and Yellowstone, they decided this year was as good as any.

"We're very optimistic about the future and the expansion of Hitt Road to four lanes out to the freeway," Bird said. The contractor on the project is Bateman-Hall. "We're building fast," he said. "We hope to have this open by August.

The 11,000-square-foot Dad's south of Idaho Falls is home to Frontier Pies. Bird said they plan to have a food vendor in the new store, but said they haven't chosen yet.

Dad's is owned by Doug Andrus, who has been busy on both ends of town. The company has bought 100 acres near Exit 113 and is planning to build a 90,000-square-foot facility for Watkins Distributing, the regional Anheuser-Busch wholesaler.