Idaho Falls market deemed low risk for real estate investment

Employment analysis for the Idaho Falls market. Note the increase in local retail trade jobs.

Local Market Monitor, a Cary, N.C.-based company that keeps track of fundamentals in 300 markets across the United States, has identified Idaho Falls as a medium-to-low-risk place for anyone looking to invest in rental property.

According to the summary for March, home values in the market are forecast to increase 5 percent over the next year, slightly behind the national forecast of 5.7 percent.

“There was a modest housing boom and bust, but home prices have been flat in recent years,” it said. “Rents are very low. Population growth has been average. Job growth will increase housing demand, but mainly for rentals. Home prices were flat in the past year. Expect an improving housing market the next few years.”

Here are other highlights of the report:

Job Growth
In the past 12 months, jobs in this market have grown by 3.4 percent. This compares to a national increase of 2.4 percent.

Home Prices 
Home prices in this market peaked in Q1 2008 at $190,976. Since their peak, prices have fallen by 13%. In the last 12 months, prices have gone up by 2 percent. The average home price in this market is currently $165,245.

Population 
The population in this market grew 0.6% in 2013, while the US population grew 0.7%.

Migration
In 2013, net population migration was -0.6%. While migration tends to be small, it can have a large effect on demand for real estate.

Rents 
We forecast rents to increase 14 percent over the next three years in this market, to an average of $877 per month, partly due to higher inflation.

Housing Permits
Total housing permits in February 2015 were up 172 percent from last year. Single family permits were up 172 percent.

Employment
Jobs were up 3.4 percent in the past year, compared to the national gain of 2.5 percent..

Unemployment 
The Unemployment Rate in January 2015 was 4.2% versus 5.2% last year.

The Financial Capitalization Rate shows the average return on investments with similar perceived risk as residential investment properties - such as BBB corporate bonds - but without taking into consideration the special local risks measured by the Local Market Risk Premium. 

Bitrick honored by Idaho Business Review 'Accomplished Under 40' judges

Monica Bitrick

Monica Bitrick, CEO of Bitrick Consulting Group (and a frequent contributor to BizMojo Idaho), has been named a 2015 Accomplished Under 40 honoree by the Idaho Business Review.

This is the 16th year the Idaho Business Review has recognized professionals under the age of 40 who have made big differences at work and in their communities. More than 200 people were nominated, and of those 90 completed the application process.

Bitrick came to Idaho Falls in 2007 to be director of human resources for Advantage Employer Solutions. Before that, she was employed by Manpower International and Workscape, Inc. in Boise. She holds a bachelor’s in business administration (general business administration and human resources management) from Boise State University. She started her own company in 2013, and is also a founder to the Square One business development network.

She also has done volunteer work with non-profit organizations, including the Suicide Prevention Action Network of Idaho. She is a member of Idaho Falls Rotary, and serves as Bronco Contact for southeast Idaho with the Boise State Alumni Association.  Previously, she served as the chair of the Military Affairs Committee, Young Professionals Network, Distinguished Under 40 Awards Program, and the Greater Idaho Falls Chamber of Commerce's Fourth of July Parade.  She is an active volunteer with EITC Foundation and Calvary Chapel Christian School.

Bitrick’s accolades include the “Accomplished Under 40 Award” from the Greater Idaho Falls Chamber of Commerce, Service to Others Award from the Military Affairs Committee, and the POW-MIA Recognition Award from the Veterans for Foreign Wars.

For a full list of honorees, follow this link: 2015 Accomplished Under 40.

First quarter home sales up in Bonneville County

Home sales in Bonnville County jumped sharply in the first quarter of 2015, to a level not seen since the economic meltdown of 2008.

With 308 homes sold, sales were up 28.4 percent over the first three months of 2014. The average time it took for a home to sell dropped under 100, the first time since 1007, while new listings climbed to 535.

The median price of a Bonneville County home remained roughly where it has been since 2012, around $137,000. A median is the number at which half the homes on the market sold for more than that amount and half the homes sold for less. The average median price for the past 10 years was $140,658.

What would a home that bought for that price in 2006 be worth today? A little more, but not much, according to the Federal Housing Finance Agency's HPI Calculator. Going by sales in the Idaho Falls Metropolitan Statistical Area, a home that sold for $140,658 in the first quarter of 2006 would have been worth $143,694 at the beginning of 2015, a jump of 2.16 percent. That home's value would have peaked in the first quarter of 2008 at $164,130, then tumbled to a low of $137,711 in the second quarter of 2011.

Chukars hire new broadcast director

Alex Cohen at his last job, in Melbourne, Australia. Cohen has joined the Idaho Falls Chukars broadcast team for the 2015 season.

Alex Cohen has joined the Idaho Falls Chukars as the newest member of its broadcast team. He will be with the team for all its road games and join John Balginy in the booth for all Chukars home games this season, according to a news release from the club.

A native of Philadelphia, Cohen has six years of experience in professional baseball. In 2014, he worked for the Oakland Athletics in the team’s media and broadcasting department. Last fall, he traveled to Australia to serve as the play-by-play broadcaster for the Melbourne Aces of the Australian Baseball League. In addition, he served as the play-by-play broadcaster for 2015 ABL All-Star Game.

Balginy will once again be heard through the airways this summer for all Chukars home broadcasts. All games will be broadcast on ESPN 980 AM, 105.1 FM, 94.5 FM (Pocatello), and online on either www.ifchukars.com or MiLB.com.

For a look at Cohen’s resume and examples of his work, follow this link: Sportscasters Talent Agency of America.  He can be found on Facebook here and his Twitter feed is here.

Idaho Falls Civitan Club seeks to recruit new members

Idaho Falls Civitan Club is hosting a “seek event” April 21 at Catered Your Way, 2161 E. 17th Street, to recruit and educate anyone interested in learning more about the Civitan Club. The event is from 6 to 8 p.m.

In Idaho Falls, the Civitans are best known for fund-raising events such as Alive After Five and the Annual Indoor Pub Golf, with all funds going toward projects benefitting the community.

Civitan International is an organization of community service clubs with roughly 40,000 members across four continents. Each club works to help others and fulfill needs in their community, with a special emphasis on helping people with developmental disabilities. Civitans also continue this mission through fund-raising for the UAB Civitan International Research Center, a world-class medical facility dedicated to researching developmental disabilities and other cognitive disorders.

For more information, visit our local Web site http://ifcivitan.wix.com/ifcivitan and the International Web site, www.civitan.org, or call 1-800-CIVITAN.

Advertising Federation to host speaker on Web site upkeep

Brittany Hargis

In real estate, there’s a euphemism called “deferred maintenance,” and it applies just as much to a business’ online presence.

Plenty of Web sites are out of date or tired looking, taking up space and not doing the owner a whole lot of good.

At its monthly Lunch and Learn session this Thursday at Dixie’s Diner, the Idaho Falls Advertising Federation will hear from Brittany Hargis, general manager of Manwaring Web Solutions. Based in downtown Idaho Falls, her team specializes in Web design, development and marketing. For more than 15 years, the company has designed custom Web sites that are functional and easily found online.

First impressions are critical. What do your potential customers see when they end up on your website?

Sign-in is at 11:30 a.m. and the program runs until 1 p.m. Cost is $12 for IFAF members and $15 for non-members and includes lunch!

To RSVP follow this link to the Facebook event posting: https://www.facebook.com/events/1391506907837415/

The following week, on April 23, the Advertising Federation will hold its annual mixer and media auction at the Willard Arts Center. This is a great opportunity to buy advertising packages and expertise, with proceeds going to help the Idaho Falls Soup Kitchen.

Cost of admission is three cans of food or $5. Hors d'ouevres will be served. The silent auction begins at 7 p.m. Follow this link to the Facebook event posting: https://www.facebook.com/events/1642578275970818/

EIRMC announces Frist award nominees

Eastern Idaho Regional Medical Center announced Thursday this year’s nominees for the Frist Humanitarian Awards, given annually in recognition of the humanitarian spirit and philanthropic work of the late Dr. Thomas Frist, Sr., a founder of Hospital Corporation of America, EIRMC’s parent company.

For years, each HCA hospital nominates an employee, physician and volunteer. New this year is the Excellence in Nursing Award.

The EIRMC nominees are:

Tim Schwartz, employee, physical therapy

Schwartz has been with EIRMC for more than 14 years. On the job, colleagues in Wound Care say he always has a smile and a kind-hearted way of putting patients at ease.  He’s a Boy Scout leader, volunteer ski patroller, a supporter of Idaho Falls Lacrosse, and even volunteers at football games to move the chains on the fields. Tim also works with youth in his church. Tim was nominated by his colleagues in Wound Care. As a Frist Award nominee, EIRMC will make a donation in Tim’s name to his charity of choice, Livestrong.

Dr. John Miller, physician

Miller is a critical care medicine physician who works in EIRMC’s Intensive Care Unit. He has a reputation as a great supporter of nursing and has been very generous with the local chapter of the American Association of Critical Care Nurses, sometimes teaching at educational events for the organization. His nomination said, “He is a true humanitarian and puts needs of others above his own consistently. He is an exceptional physician. He is kind and compassionate and generous. He is a great human being who truly loves his fellow man.”

As a Frist Award nominee, EIRMC will make a donation in Miller’s name to his charity of choice, Hospice of Eastern Idaho.

Judy Osborne, volunteer

During her five years at EIRMC, Osborne has volunteered more than 1,500 hours. She works at the information desk and in the surgical waiting room seeking out ways to make a difference and provides comfort without being asked. Marchelle Jensen, manager of volunteer services, called Osborne “an inspiration and a remarkable person who is loved by patients, families, employees, and her fellow volunteers.”

As a Frist Award nominee, EIRMC will make a donation in Osborne’s name to Habitat for Humanity.

Cindie Larsen, R.N., Excellence in Nursing Award Winner

Larsen is a nurse on the fifth floor. One of her nominators said this about her: “She is so positive with her interactions; she brings everyone together in a common friendship.” She also gives dancing lessons to cancer patients, a reflection of her steadfast compassion and commitment to patients. As a Frist Award nominee, EIRMC will make a donation to the American Cancer Society.