Timing is everything, so make a plan

Tanyan Davies-Wall

The new year is almost here, which means it’s time to make some plans. If you are buying or upgrading a home, here’s something to think about: Mortgage Professional America Magazine reports that in 2015 rates are expected to rise to an average of 4.6 per cent on a 30-year fixed-rate mortgage, up from around 4 percent, where they are right now. What's more, those rates are expected to reach 5 percent by the end of 2015.

With interest rates on the rise, understanding how they affect your payment is crucial to your decision making. The first thing that I advise clients to do is set a budget based on a payment they are comfortable with, not on a home price they think they can afford. The price of a home means little compared to the cost of covering the debt service.

For example, if you can comfortably afford a $1,200 monthly house payment, right now you could purchase a $200,000 home once you figure in taxes and insurance. But if the interest rate rises to 5 percent this year, the same payment will only afford you a $178,000 home. We’re looking at a negative impact on your buying power of nearly 10 percent.

Understanding how interest rate fluctuations impact buying power will allow you to make educated financial decisions.

Also, remember that you will always make more money when there is “blood in the water.”

The adage is that investors make their highest returns when everyone else is losing money. Buying a home is no different. I tell buyers that if they are looking for a good deal, winter is often the best time to find one. People needing to sell their homes tend to become more desperate in the winter, knowing that it is harder to sell a home when there is snow on the ground.

If you are planning to buy in the near future, you may want to leverage your buying power and the time of year to get the best deal. If winter house hunting isn’t your thing, the very least you can do is get your ducks in a row. I suggest working with a licensed Realtor and a reputable lender to ensure that you are ready to move come spring time. This affords you two things: it allows you to continually see what the real estate market is doing and the ability to time interest rates to improve your buying power.
Tanyan Davies-Wall is an agent with Voigt-Davis Realtors and a member of the Square One business development organization.

January openings planned for Togo's, Freddy's

A job applicant at the Idaho Falls Togo's, in the Sagewood Plaza shopping center.

While busy with pre-holiday shopping, I poked my head into a few places that are looking like they are nearly done and here's what I found out. Togo's, on Hitt Road, is planning on opening in mid-January. They are taking applications now, and are in especial need of help during the daytime. Freddy's Frozen Custard has its lights on, but is looking at opening after the first of the year, possibly Jan. 6, according to a worker onsite. I'm not sure who is in the mood for frozen custard at this time of year, but their hamburgers are highly rated, at least by Consumer Reports.

With that, I will wish you a Merry Christmas from BizMojo Idaho. Keep looking in during the next few weeks. Though I expect things to be slow, I will be poking my nose into whatever I might think of interest to loyal readers.

The lights are on at Freddy's, near WinCo Foods on Woodruff Avenue.

Melaleuca delivers tons of food to 13 families in dire straits

Melaleuca and its employees have done their part this holiday season, donating 1,000 cans of food to the Idaho Falls Soup Kitchen, 5.5 tons of food to 13 individual families, 500 Christmas gifts to the Salvation Army and a $1,000 in-kind donation to St. Vincent de Paul's Christmas Basket Project.

This is the 13th year the company has donated food to families who are suffering extreme hardship. Employees had confidentially identified eight families in Idaho and five in Knoxville, Tenn., where the company also operates. Each family received a three-month supply of non-perishable food, 40 pounds of meat, new clothing and toys for the children.

"These families were overcome with emotion and gratitude," said Melaleuca employee Heidi Weiers, who chairs the company's food drive committee. "At one home, there was a 9-year-old girl who helped us unpack the 16 boxes of food we brought over. Her father is on an organ donor list and has a lot of medical bills, so she wasn't expecting to receive a single Christmas present. She was overjoyed for her little brothers and sisters because we'd brought bananas and oranges, her brother's favorite fruits, and diapers for the baby, which they couldn't afford."

Melaleuca employees also participated in The Salvation Army's Angel Tree program, purchasing Christmas gifts for hundreds of children. They placed gift cards, toys, clothing, video games and art supplies under Christmas trees at the company's facilities. Many of these gifts came from Melaleuca call center employees who exchanged some or all of their December bonus checks for presents.

"Melaleuca is a wonderful example of a good corporate citizen," said Maj. James Halverson of the Salvation Army. “Not only is the leadership team generous, but their employees also get involved in serving others.”

Additionally, Melaleuca supported the Christmas Basket Project, a philanthropic effort led by St. Vincent de Paul, the Idaho Falls Catholic Community, and First Presbyterian Church. The company made an in-kind donation valued at $1,000 to the campaign, which delivers food and Christmas gifts to more than 400 families.

Idaho Falls receives 11-acre land donation for park development

The waterfall at what is slated to become Heritage Park

Christmas came early to the city of Idaho Falls, as three property owners made a gift Thursday night of more than 11 acres of undeveloped property on the Snake River north of Sunnyside Road.

Stafford and Woody Smith, Ball Ventures and the Idaho Falls Rotary Club announced a gift and park development agreement for land on the river’s west bank, value estimated at nearly $2 million. Situated at the south end of Snake River Landing, the land will be developed into Heritage Park. It features unique lava rock formations and a scenic natural waterfall.

The agreement says the park will be developed to include walkways, parking, water features, landscaping, lighting, benches, monuments and other features.

“The creation of Heritage Park is a great example of how individuals, companies, civic organizations and city officials can work together to accomplish amazing things for our community,” said Eric Isom, Ball Ventures’ chief development officer. “Improving this riverfront area will not only increase the quality of life for area residents, but will continue to promote further economic development in our city.”

Stafford Smith, who co-owns the land with his brother Woody, said the Heritage Park theme is intended honor the city’s relationship with the river, which dates back to 1865, when James Madison “Matt” Taylor built a toll bridge across the Snake River. “This park will represent and celebrate our heritage,” he said.

A Heritage Park development committee will be established in the next 90 days, and the city anticipates it will take three years to put together a plan -- seeking out local, state, federal and foundation grants, as well as donations from other business.

Over the past 24 years, the Rotary Club of Idaho Falls, through the annual Great Snake River Greenbelt Duck Race and grants from the city, has raised approximately $2 million for greenbelt improvements and expansion. The money has paid for more than seven miles of running and biking paths, the Trapper statue on Memorial Drive and the development of the Friendship Garden and Ryder Park.

“Rotary has been committed to raising money to develop and enhance the greenbelt since 1991. We were delighted to partner with the other Heritage Park donors as part of our 2018 Centennial project,” said Rotarian Kevin Call.

Villa Coffeehouse opens Hitt Road location

The inside of the Villa's new location on Hitt Road.

The Villa Coffeehouse and Cafe has opened its second location, at 3102 S. 25th East (Hitt Road) in Idaho Falls. The second location is in Sagewood Plaza, next to Runway Fashion Exchange.

Hours are Monday through Saturday, 7 a.m. to 9 p.m. and Sunday 9 to 5 p.m.

Beginning Dec. 27, owners Chip and Alexis Langerak will be having a weeklong grand opening, giving away free food, coffee and Villa merchandise, with a photography exhibit by the High Desert Photographers’ Club.

Visit the Facebook page here.