Home prices trend upward

Here is a line graph showing what the price of a $125,000 home in the Idaho Falls area would have done over the last 15 years. After peaking in the first half of 2008, the number slid in mid-2011 and bobbed for a few years, until mid-2014, when it started to climb again.

What a difference 15 years make, although it doesn’t always feel that way.

For lack of any real news breaking today, we decided to go back to our old friend, the Federal Housing Finance Agency House Price Calculator. This is the Web page where you can plug in your numbers and see how home prices have trended in your market.

Arbitrarily, we decided to see what a hypothetical property valued at $125,000 in the third quarter of 2001 would be estimated worth today. The results for all the markets we looked at are good, some really good. Here’s a breakdown.

Idaho Falls: $185,996  +48.7%
Pocatello: $185,252  +48.2%
Boise: $220,150  +76.1%
Reno: $209,754  +67.8%
Las Vegas: $181,459  +45.1%
Seattle: $251,652  +101.3%
Phoenix: $220,705 +76.5%

What’s interesting to look at is the volatility over the past 15 years. There's no question things bottomed out for everyone in 2011. In Las Vegas, your $125k from 10 years earlier would be $95,592 in the Q4 of 2011. In Idaho Falls, on the other hand, the line dipped but never below where it started. But the figure from Q3 of this year is still below the all-time high of Q3 2008, when it peaked at $187,961.

Here's a graph for Boise. Note that Joe Homeowner was underwater from Q1 2011 to Q2 2012, but recovery has been strong since then. 

Go ahead and try your house, but remember these are just numbers. Your house is only going to be worth what someone is willing to pay for it. What the HPI Calculator projects is what a given house purchased at a point in time would be worth today if it appreciated at the average appreciation rate of all homes in the area. The actual value of any house will depend on the neighborhood, house condition and age, home improvements made and needed, and many other factors. Consult a qualified real estate appraiser in your area to obtain a professional estimate of the current value of your home. Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires that any appraisal used in connection with a federally related transaction must be performed by a competent individual whose professional conduct is subject to supervision and regulation. Appraisers must be licensed or certified according to state law.

U.S. Bank Foundation makes donation to EITC scholarships

The U.S. Bank Foundation has donated $5,000 to the Eastern Idaho Technical College Foundation to benefit the scholarship program for the 2017-2018 academic year.

Tracy Hoart, the bank’s vice president and district manager, and Deborah Moretto, vice president and trust officer for private client group, who also serves as the EITC Foundation chairwoman, visited the foundation to present the award. All scholarship dollars are allocated to students attending Eastern Idaho Technical College. The foundation awards nearly $200,000 every year in scholarships.

“Nearly one-third of EITC students receive scholarship awards through our office,” said Natalie Hebard, the foundation’s executive director. “Each and every donation is critical to supporting the mission.”

If you or someone you know is interested in attending EITC and would like to apply for scholarship support the next deadline to apply for scholarships is Feb. 10, 2017. Award notifications will be made by the end of March and funds will be available for fall 2017 and spring 2018. Applications can be picked up in person at the foundation office, 1600 S. 2500 East, Building No. 3, or found online at www.eitcfoundation.org.

To learn more about the Eastern Idaho Technical College Foundation, please visit www.eitcfoundation.org, or call 208-535-5398.

Work progresses on new Deseret Industries store in Ammon

Looking east across the site of the future Deseret Industries store in Ammon.

In case you're wondering about all the dirt being moved in Ammon on 17th Street next door to Piano Gallery, that is the site of the new Deseret Industries store.

Site plans were filed in August, but the work has only started in earnest since the building permit was issued earlier this month. The project, on 6.45 acres, calls for a building of 48,605 square feet, 8,746 of which will be devoted to office space, to consolidate the Welfare and LDS Employment offices of the Church of Jesus Christ of Latter Day Saints in the same building.

The store will replace the downtown Idaho Falls store at 450 E Street. Earlier this year Deseret Industries Marketing Manager Booke Yates told Local News 8 that the old store had served the community sell, "but was beginning to get a little run down." She said the construction team is also "evaluating the future" of the current Deseret Industries store location.

The new building has been designed by JRW Architecture of Rexburg.

In 1966, Christmas shopping season started later, but with a lot more hoopla

Baloo the Bear makes his way through the streets of Davenport, Iowa, in a mid-'60s holiday season parade.

Now that "Black Friday" is in our rear view mirror, I find it interesting that the Christmas shopping season of 1966 officially kicked off on Dec. 3. That was the day the Idaho Falls Chamber of Commerce had made arrangements for a parade featuring marching bands, majorette squads, beauty pageant winners, Santa Claus, and -- most curiously -- 40 giant balloons from Giant Balloon Parades, Inc.

The mobile extravaganza was to begin at 9:30 a.m. on Memorial Drive in front of the LDS Temple and proceed to A Street, turn east on A to Yellowstone Avenue, then north to First Street, east on First to Holmes Avenue, then north on Holmes to the Country Club Shopping Center.

More than 200 youngsters, most of them Boy Scouts, had been brought into service to pull the balloons (characters from "The Wizard of Oz," "Alice in Wonderland" and "Aladdin and His Lamp," among others) along the parade route.

Some Googling reveals that Giant Balloon Parades was a company based in Newark, N.J. According to a 2006 article in the Quad City Times, Balloon parades were a hit in the '60s, the balloons were filled with air, not helium. They were mounted on big dollies and wheeled through the streets by costumed handlers.

With a portable air compressor they had to be filled just to a pressure of about four pounds to the square inch. "If we put in too much they’ll blow up,” a company representative told Jim Arpy, reporter for the Times-Democrat in Davenport, Iowa.

Anyway, I would be curious if anyone remembers this parade in Idaho Falls from 50 years ago. I can't imagine that it wasn't something to remember.

In honor of Cyber Monday, a trip back down Memory Lane, aka the 'Information Superhighway'

A screamin' machine in its day: The Leading Edge Model D. Initially priced at $1,495, it came with dual 5.25" floppy drives, 256 KB of RAM and a monochrome monitor.

In honor of Cyber Monday, when we are all expected to go hog wild online, I did a little digging to excavate the first story I ever wrote about the Internet. It appeared in the Post Register on April 10, 1994. In print.

Back then, we were calling it the "information superhighway." When was the last time you heard that term? Other headlines from that day's edition included, "Authorities say rapes often go unreported" and "Cobain's suicide perplexes local youth."

I think my home computer at the time was a Leading Edge 286, which I got from my brother-in-law in exchange for a microwave oven. It used 5 1/4-inch floppy disks and was handy for balancing my checkbook.

Anyway, here's the report:

GROUP SELLS `ON RAMP' TO INTERNET

Remember that old encyclopedia you had when you were a kid? The one in which Eisenhower was still president and the Piltdown man was still regarded as a revolutionary archaeological find?

OK, you were brilliant and got straight A's in spite of it. But think of how much easier it would have been if you'd had the latest information at your fingertips.

It's the computer age now. Although there's still lots of work to be done on the much-hyped "information superhighway," eastern Idahoans will soon have an easier time of getting linked up to the Internet, the worldwide network on which it's possible to get the latest information on practically anything.

SRVnet, a new non-profit organization based in Idaho Falls, is offering low-cost access to the Internet, access that has been limited until now to universities and government research agencies.

"My children just get on it and cruise," said Nancy Peterson, who is seeking investors and subscribers to help raise the $40,000 the association needs.

There are significant differences between SRVnet and commercial services like Compuserve, Prodigy and America OnLine. The people who run commerical services limit a user's exposure to what they want the user to see -- usually things for which they've been paid. The offer hook-ups to the Internet, but that involves a surcharge on top of the base cost, Peterson said.

With SRVnet, a user pays a set amount for a straight pipeline to the Internet. A "gold membership" costs $240 for two years, giving a user four free hours every month. Silver members pay $120 for one year, involving three free hours a month. Bronze members pay $10 a month for two free hours a month. Extra use in all three cases is billed at $3 an hour.

"If we could get 120 gold members and 120 silver members to sign up, we could begin," Peterson said. "The necessary documents have been filed and the equipment is waiting to be ordered."
If the effort falls through, all money will be refunded, Peterson said.

There will be a one-time charge of $29.95 for software, or users may purchase their own.
It's also essential to get a basic computer setup that can process information fairly fast. Any IBM compatible PC should be at least a 386 with Windows software (the programs will also run on Macintosh.) A regular telephone line will work fine, but the modem's capacity should be 9600 bps or more.

A good modem will cost around $150 to $200, Peterson said. PC prices vary and are coming down all the time. "In the next few years, you're going to see more and more people coming online," she added.

Anyone with children should be particularly interested in getting online with SRVnet, since the service will be very similar to the Internet access public schools will be offering. For business people, the Internet offers a competitive edge, both in gathering and putting out information. It's possible to start a bulletin board on the Internet that allows you to get your message out to anyone who has an interest in what you have to offer, Peterson said.