Entertainment options tonight in Kingman...

If you haven't heard, the old movie theater is open once again right here in jolly old Kingman. As of this moment I don't know what movie choices are available there but the movie about the dog and the family... well I'll admit I got a little misty towards the end (darn those Old Yeller and Where the Red Fern Grows movies of long ago... and I don't even have a canine companion... I'm getting soft).

Also on tap is the season premiere of that singing show that so many millions of people are drawn to. You know, karaoke used to be fun until this show became popular... now everyone at karaoke shows up and sings their heart out. Almost like a try out for the show. For those like me practically tone deaf and without a singing voice that even includes one octave, it is not worth working up (or drinking up) the courage to belt out my favorite Sinatra tune (It Was a Very Good Year).

Well, if either of those two options don't float your entertainment boat... don't forget that tonight is my premiere as a panel member of the planning and zoning commission. We are talking about probably a couple of hours of raucous diversion from your otherwise scintillating affairs on a Tuesday night. We have nine items on the agenda, that is right, nine. Rezones, conditional use permits, and preliminary subdivision plats... oh my!! And don't forget that it is two for one night when you drag someone along, not only will you get in free but so will the other person... I don't know how much longer they can keep that promotion going, really.

In the words of Maximus Decimus Meridius "Are you not entertained? Are you not entertained? Is this not why you are here?"

2008 Listings and Sales Activity Wrap Up...

Another year has gone by the way-side and of course this means tabulating the data for housing in the Kingman market. You may want to hide the women and children, and if you are squeamish you should be warned that the following is not for the feint of heart (especially if you are a seller).

I'll make some comparisons to data I shared last year in this linked post throughout this report. I'll also be adding a chart that looks back at the average priced sold home figure in each month going back to 2004. I even learned how to make an HTML table to put some data in a easy to read format (with hopefully less spelling errors).

Before we begin though, of course comes the disclaimer...

Disclaimer... all data compiled for this report comes from the WARDEX Data Exchange and does not include any sales activity from outside that resource. All research is done only on single family homes and there is no inclusion of modular homes, commercial properties, or vacant land. The geographical area researched includes; all areas within the boundaries of the city of Kingman, north Kingman, the Hualapai Mountain area, and the Valle Vista subdivisions. Click here to see maps of the included area's.

Let's get started, and please click on any chart for a larger view.

2007 Listing Activity Report:


In 2008 the Kingman market saw 1,393 listings enter the fray, that is down from the year previous (1,563). Just over one quarter of those listings closed which is up 5% from 2007. There are even a few more pending contracts from listings taken in 2008 than in 2007. Expired listings rate is up, sellers withdrawing or canceling is down, and sellers that have temporarily taken their home off the market is negligible.

I'm just going to guess that the success of the banks selling their distressed assets at cut rate prices is what led to an increase in percentage of closings per listing in 2008.

The market for sellers is still very much crowded and competitive, there isn't any balance in our market. Buyers still have the luxury of waiting sellers out for more price concessions. In other words, the market is hardly any different than it was in 2007 for sellers entering the market (other than values have been plummeting).

I know that in some year in the future the chart above will look much different with a bigger piece of red pie, but not yet.

2007 Sales Activity Report:





As you can see both unit sales and total dollar volume came in lowest on record here at MOCO Real. Total dollar volume is off 22% from 2007 (and 62.6% from 2005... yikes!!). Unit sales are off just a tad compared to 2007 but off 59% from 2005 (again... yikes!!).

It just isn't possible to escape the national news about real estate markets in general and the above charts obviously will give credence to those reports. There is little doubt that our local market was 'pumped and dumped' - to use a phrase - during the boom years, but I still feel that the fall did not have to be as bad as it has been (and may yet be). I'll resist the temptation to go on a local political rant as to the reasoning of my opinion at this time, but I know the severity of our fall is not being felt in every other market in the country. We must do better as a community... and I'll leave it at that.

So now the one we've been waiting for... just what was the average priced sale in 2008??



Last year I mentioned a lag in the average figure and it appeared in the 2008 average unit sale. If my lag theory is correct, and the community continues to do nothing about the local economy, then look long and hard (that's what she said) at the sales in units chart above again. Bottom forming this year (towards end of year) and runs through the following year at similar levels... that is my best guess based on this data. Again, that is if my theory is correct and I always reserve the right to be wrong when speaking about the future.

The average price of a sold home in our market dropped nearly 21% in 2008 compared to 2007 and with all the foreclosures still coming I will not be surprised to see that figure fall again in similar fashion.

Yet even with all the gloom and doom (looks like even I caught that dreaded disease), Kingman is still the place to be as far as I'm concerned. And it will be even more affordable in due time.

Below is that running chart logging each months average sale going back to 2004 up to last month...



I look forward to next year to stretch this out further and see where it goes.

Now for those data tables (and my first shot at overcoming some HTML anxiety).

Data tables for all sales tracked in the year 2008

Price Data

Item	2008
Average Price per Unit Sold	$162,072
Median Price per Unit Sold	$142,500
Average Price per Square Foot	$103

House Data

Item	2008
Ave Living Space per Square Foot	1,571
Bedrooms	3.08
Bathrooms	2.09
Garage	2.0
Year Built	1995

Marketing Data

Item	2008
Days on Market to Contract	114
Days on Market to Close	152
Price Reductions on Market	$16,660
Negotiated Price Concessions	$10,068
Total Price Concessions	$26,728

Not bad eh?? Next year I'll add a column to compare the previous year. I'm simply too overwhelmed coming up with this initial table. I plan on using tables like this for listings and sales reports throughout the coming years. Hopefully it will allow for easier reading (and posting).

In Conclusion:

No it is not the end of the world as we know it (that tune was on my XM radio just now), but the above data is reality.

For sellers, the only advice I can offer is the same as it has always been... price accordingly (as you can). Stay in tune with the market, feel free to drop by this site on a monthly basis or simply keep in touch with your favorite real estate professional (even if I am not that person). Be warned though, there is a clear trend in the direction of future pricing and if you plan to wait the market out for better days -- be very patient (and try to get more people to move to Kingman). Remember that you should expect a premium for a well taken care of and marketable house.

For buyers, well the ball is even more in your court than it was last year at this time. I see low interest rates available at the moment, but have no idea when that may change (contact your favorite lender for that information). It can always be the best time to buy (had to get a little Realtor spin in here somewhere), but only YOU can determine if it is the best time. You will want to ask and answer some questions of yourself and your situation. You will have to have a plan. You will have to have the ability to afford the home and all that comes with home ownership. If price values are a concern, you will have to look long term. Not sure how long you plan on living in the area... probably a wise decision to hold off on that new home. There is also time to take advantage of the extremely reasonable rental prices/costs at the moment if you can't determine where you will be.

But if you are ready for purchase, I'm ready to serve you. It's two ton's of fun representing buyers in negotiations at this time. I have the data and am more than willing to use it in your favor. Negotiating from a position of strength is just my game.

I look forward to the challenges that lay ahead in 2009 and beyond.

Rezone approved at county meeting...

This morning the Mohave County Supervisors approved a rezone to allow commercial property to be developed near the master planned community Pravada.

I'll copy these comments from the new District 1 Supervisor from yesterday's Kingman Daily Miner article...

Watson has also spoken with residents and planners about the proposed Aztec Commercial Center, which would be located at Bolsa and Aztec roads in Golden Valley. The project was originally denied by the Planning and Zoning Commission early last year, but it was then approved a few months ago by the commission. It was denied by the Board of Supervisors a few months ago and former Board Chairman Pete Byers brought the item back for reconsideration last month. The project is on today's Board agenda.

The project would include warehousing, storage and retail spaces.

Watson said he can understand the work that went into creating the County General Plan and the Golden Valley Area Plan and the desire to see commercial business stay near Highway 68.

"These area plans have to be flexible," he said. "Aztec will eventually be a five- to seven-lane road, 55 miles per hour. My question to those folks is, 'Why not a commercial zone between (the master-planned community) Pravada and (Highway) 68?' It makes sense to me."

"But with this influence (Pravada) it changes," he said.

Although the project appears to be spot zoning, residents within 300 feet don't appear to have any objections to it, he said. And it makes sense to have additional services between Pravada and Route 68.

So the Aztec Commercial Center received approval this morning.

Noticed at the meeting...

The anti-growth folks were outnumbered. More residents spoke in favor of the rezone change than against. It wasn't even close.

The anti-growthers also wouldn't know a coherent argument if one was handed to them. I think that many people in the county have tired of their antics and tactics. I know that they have threatened local business people that don't agree with them first hand, as I have been a target of their antics via emails forwarded to me (the threats are laughable at best).

I believe the county elected leaders spoke out today in favor of property rights and also represented its citizens all at the same time. Cheers to them and I hope that there is a momentum shift towards an open minded approach that welcomes investment and a sense of entrepreneurial spirit in our region.

The sky only falls when it is allowed to.

December Sales Report (2008)

2008 is now all set and done as far as tracking real estate related data on this blog, and the year was a stinker. I've now collected data for four years and 2008 is the worst in terms of unit sales and total dollar volume. That won't surprise anyone that has been following along. The only mild surprise is the median sales price fell to below the $100,000 level in December (and lower than any month in 2004).

I'll post the year end wrap up later next week and I also plan to break down sales figures for both bank owned (foreclosed sales) and traditional (human sellers) sales for 2008.

In the meantime... the disclaimer...

Disclaimer... all data compiled for this report comes from the WARDEX Data Exchange and does not include any sales activity from outside that resource. All research is done only on single family homes and there is no inclusion of modular homes, commercial properties, or vacant land. The geographical area researched includes; all areas within the boundaries of the city of Kingman, north Kingman, the Hualapai Mountain area, and the Valle Vista subdivisions. Click here to see maps of the included area's.

Listings and sales in units chart:

I do find it interesting that the last four months of new listings and sales figures have ebbed and flowed practically in unison. I have no explanation for this and only wish to see the blue line come down and the red line go up in the next year (as always).

Average listings and sales averages chart:


Lowest average sales price figure since April of 2004, and I've only kept listing average price since 2006 so the December figure is the lowest asking average... but it is still obviously way off the market price. Average sales prices are trending down at a faster rate than are asking prices. At some point sellers AND Realtors need to grasp reality.

If not for one closed transaction of $430,000 last month, the average price would have come in under $120,000.

2005 through 2008 unit sales chart:

Don't let the number '40' fool you, once again over half the sales in December were of the foreclosure variety (more on that in a bit). Easily the worst year for sales for traditional sellers.

2005 through 2008 average price chart:

I guess I'll be adjusting the scale on the axis for this chart next year.

The average price of closed sales fell 31.6% compared to sales recorded in December of 2007 (and just under 40% from the same month in 2005).

2005 through 2008 median price chart:

Take a real good look at this chart and keep in mind that half the sales last month were had for less than the amount shown.

The median sales price for closed transactions is off by 40.6% as compared to December of 2007.

The price range of sales for December 2008 is $42,000 through $430,000.

Average SFR statistics:

The average home sold in December had 3.15 bedrooms, 2 bathrooms, a 1.73 car garage, included 1,447 square feet of living space, and was built in 1987. The average hold sold for an average of $87 per square foot of living space.

It took an average of 71 days of marketing to attract a buyer to come to an agreement and a total of 104 days from the first day of marketing to the close of escrow.

Sellers reduced price on average $16,877 to attract a buyer on average from the first day of marketing, and conceded and average of another $8,493 to the buyer in the transaction. The total average price concession for the homes sold in November was $25,370 (16.76% total reduction).

Bonus Charts:



Foreclosure Impact:

In terms of units sold, of the 40 sales reported for December -- 23 were listed as foreclosed on (57.5% of units sold).

The price range of foreclosed units sold for December was from $42,000 up to $290,000.

The average price of foreclosed units sold for December was $113,759 (9.7% lower than the overall November figure).

The median price of foreclosed units sold for December was $95,000.

The average foreclosure home sold in December had 3.3 bedrooms, 2.1 bathrooms, a 1.6 car garage, included 1,483 square feet of living space, and was built in 1993. The average home sold for $76 per square foot of living space. Owners of foreclosed on homes conceded 16.7% off the initial offering price.

Conclusions:

The conclusion this month is thank goodness that year is over. Besides that, sales prices are sliding down a steep slope and sellers will need to keep up. Actually sellers need to get ahead while they can most likely. Is there any bit of news right now that says the trends reverse course anytime soon, especially here in Kingman Arizona?? That is the only reality check you need.

One other thing to keep an eye on is the spread between the average sales price overall vs. the foreclosure sales price was in the single digits in December after being nearly 20% the three previous months. Banks are definitely selling property with some success and perhaps they are finding a bottom. I'll watch that in the coming months.

My first P&Z ride-around later today...

The agenda for my first P&Z meeting as a panel member is out on the city website (linked here). Today is the ride-around and the commissioners get an on-property look at the items on the agenda. Learning process for me no doubt.

Perusing the agenda and I see one agenda item dealing with a wind turbine. That is probably as much I can comment on the agenda at this point. The meeting is next Tuesday night, come on by -- should be fun.

The view belongs to who??

(I realize that the proper use in the title is 'The view belongs to whom??', but 'who' rhymes with view better)

This morning I was rummaging though my Facebook home page and found a link to this article from back in April of 2008. Mainly the article is about a very up-scale residential development located south of Las Vegas in Henderson high up on a hill/mountain.

Here is a photo of the view from the link...


No doubt the view is nice and all that, but I took something else from the article a property rights issue.

From the article...

It is the project that you can see from just about anywhere in the valley, the cuts into the mountain looking like stairs toward the clouds. (Opponents down in the flatlands see it more as a disgraceful defacement that has forever destroyed a view enjoyed by millions for the benefit of a few hundred rich people. But more on that later.)

Emphasis mine above... and my initial reaction is quit whining to the 'opponents', whoever they are. I lived in Vegas for a number of years and the least striking view of the surrounding mountains from the valley was towards the south, where this development is. I realize that my view is objective and others are free to disagree if they want, just like I have just now with the 'opponents'.

So I ask, the view belongs to whom??

Not everyone is thrilled about the exclusive community. Preservationists have opposed the project, saying it has obliterated the mountains’ natural beauty. Over the past four years, a battle has been waged regarding blasting at the site, with neighbors below complaining it shook their homes, even cracking windows and foundations.

Those complaints led to lawsuits, a series of sometimes contentious meetings and, eventually, changes to Henderson’s blasting laws.

Now, however, the blasting is nearly complete. All permits needed by Ascaya have been received.

Okay this is better... while we don't know who the 'preservationists' are, we know they oppose the project.

The rest of the folks making a complaint at least had a valid argument. Blasting caused cracked windows and foundations and that does infringe on the rights of others. But at least there is a transgression against another persons rights.

But again, we are right back to my question... the view belongs to whom??

The land that the development is on appears to be owned by a private entity... with property rights. Anyone that wanted those rights and that land could have purchased. Sounds to me that the 'preservationists' needed to pass the hat when they had a chance.

Last time I checked, 'views' cannot be purchased. They are at best a feature that could come with land and property rights, but certainly not something that can be protected... unless those that want the view of a mountains' natural beauty protected bought the property and the rights that come with said property.

I often side with the property owner on issues and the property owners that were subject to damage caused by the blasting were entitled to have their grievance heard, and it sounds like lawyers got paid. I'm cool with that.

But 'preservationists' (whoever they are) don't have a leg to stand on. They can bitch, whine, and complain all they want... but they can't interfere with the rights of the property owner.

Volcano photo... err... I mean sunset photo on Miner site

Pretty nice photo found at this link.

Only thing that would make it better is if there was a wind turbine at the top of the hill (I keed).

Look who has his own blog now...

Sometimes frequent commenter 'Loyd' has his own blog digs at the Kingman Daily Miner. Find Loyd's blog at this KDMiner link and under Local Color. Hopefully he will update his blog more often than some of the others listed there, in other words Loyd I hope you do more with it than just sit and wait.

Congrats.

What I was reading...

Some of you may know that I was out of the Kingman area for the holidays. My travels included a plane ride to the land of 10,000 ice rinks as I call it this time of year. As customary I purchase an issue of The Economist for reading on such trips that begin at an airport. This time I picked up the issue The World in 2009 special rather than the weekly issue.

As I read the various articles and opinion pieces I found the last paragraph of many interesting and perhaps telling. So I decided that when I got back to Kingman I would put together a post of some of my favorites to share.

All of the following can be found at the link above. Again, all the copied text is from the last paragraph of the articles.


The year of unsustainability

Governments and businesses alike have talked up their commitments to sustainability in recent years. In 2009 both will have to show whether they really meant it.

Come to order

After intervening on such a grand scale, the state must use 2009 to prepare for the day when it can credibly say that it no longer guarantees everything. And that, in turn, will call for a restoration of the balance in which investors are confident enough to lend their money, but fearful enough to ensure they lend it wisely. Just now, many people will criticise regulation for being too lax. But remember that regulation can also be costly and distorting. And who will suffer if finance works badly? One thing that became agonisingly clear in 2008 is that we all will.

The audacity of change

The biggest danger for the Obama administration is that, after an initial burst of goodwill, it will simply drift, lacking the money to deliver its promises, battered by tough economic and international circumstances, and torn between Mr Obama’s desire to adopt post-partisan positions and the unforgiving logic of Washington partisanship. Still, it would be a mistake to underestimate Mr Obama. In 2008 he took on two of the most formidable politicians in Washington—Hillary Clinton on his own side and John McCain on the other—and beat them. In 2009 we will see a remarkably gifted politician confronting a remarkably difficult set of challenges.

Pick your scenario

There is a third scenario: the collapse in confidence reverses as rapidly as it occurred. As liquidity returns, investors conclude most banks are solvent. Opportunists pounce on undervalued mortgage paper and bank shares. Credit-spreads narrow, lending resumes and pent-up demand for homes is unleashed. Growth is sluggish for a few quarters before briskly resuming. Implausible? The American economy has repeatedly surprised itself with its resilience to shocks. Perhaps it will do so again.

About 2008: sorry

The world is, of course, wonderfully unpredictable. Our biggest hedge a year ago was to stress that some of the most important events of 2008 would be entirely off our radar screen. How true.

No more business as usual

The mood in many boardrooms will be defensive, but 2009 will offer opportunity for some firms that take bold contrarian bets. It is often in tough times that the greatest fortunes are made. To the brave, the spoils.

A new economic order

In 2009 we may not know the absolute answer to the fundamental question of how the new map of economic power will be drawn. But the question is the most important of this relatively new century. We are living through a pivotal time in establishing a new economic order. What matters is that globalisation has started and in my view it cannot—and indeed should not—be stopped.

The upside of a downturn

Those victims of downsizing who do end up launching their own businesses will have no shortage of role models. Michael Bloomberg, Steve Jobs and Michael Dell are just a few of today’s business behemoths who were thrown out of a job at some point in their careers. Like them, some of 2009’s crop of corporate outcasts will go on to prove that triumph—and millions of newly minted jobs—can be born out of adversity.

Intensive scare

In sum, 2009 will be a crucial year for health reform. Not only will the politics of health care be taken up by the new American president, which is sure to disrupt business as usual, but emerging technologies and business models also promise to turn up the heat. Happily, all of these changes—cheaper pills, more convenient clinics and online records, and the option to save money by travelling abroad for care—promise to benefit the long-suffering patients even as they punish the dinosaurs.

No end of trouble

Amid the gloom, some will do better than others (see article). The gaps between strong and weak institutions will widen further. Stronger banks will attract more deposits and will have the pick of the strongest borrowers at favourable terms. At the opposite end of the spectrum, weaker banks will face a double whammy of higher costs and a deteriorating credit pool as their best customers migrate to competitors. Governments will help to accelerate this polarisation by making it clear which institutions they will stand behind and which they are prepared to see disappear. Bankers used to complain bitterly about state intervention. In 2009, the thing they fear most will be state abandonment.

Lessons from a crisis

Though it seems hard to believe these days, the market-based financial system has made a big contribution to global growth. Reverting to fragmented, nation-based and over-regulated banking markets is not the answer. What we need is greater resilience via sophisticated market participants, as well as stronger market infrastructure and supra-national structures for the regulation and supervision of the global financial system.

It is probably an understatement that 2008 was interesting and that 2009 will be more of the same. I spent $10 bucks on this particular issue of The Economist and read it cover to cover. The 3 hour plane ride was hardly noticed and I reread some of these articles again on the way home. I'm keeping this particular magazine to reread again towards the end of the year.

I'll have the December sales report up in a couple of days and the year end wrap up in the next couple of weeks. Besides reading, there's plenty of other stuff to catch up on for now.

More this in 2009...

From this article in Sunday's Miner...

Interchange work continues

And while much of it remains behind the scenes, (Mayor John) Salem maintained that work is continuing on both the Kingman Crossing and Rattlesnake Wash traffic interchanges.

"We're moving forward with Kingman Crossing," he said. "We have found an attorney to represent the city with a proposed development agreement and fiscal impact analysis on the proposed development."

I'm hoping for weekly updates this year... I'll settle for monthly.

Eagles win...

Fans in attendance. Had a great time. Luckily this game was played indoors.

More photos of the game shared on Facebook.

Next gen wind turbines...

Link here shows a newer version of a wind turbine designed to produce electricity. Check out the video at that link.

I'm sure this design or something like it will be available someday for personal property use. Better days ahead.

December Listings Report (2008)

The first post of 2009 is a review of the last month in 2008, in terms of new listings and pending contracts. The anticipation might have been the reason why there was such a party last night... just let me think so, okay?? Alrighty then.

Before I forget... there is a guessing contest I'm running that asks you to guess what percentage has the single family average and median home price increased (don't guess in that direction... hint) or decreased in 2008. I'll have the answer in the year end wrap up sometime later this month. I still haven't determined the prizes, but I promise they will be cheap. Maybe even something homemade... who knows. Leave your guess in the comments or simply email me.

Now... on with the show after the disclaimer...

Disclaimer... all data compiled for this report comes from the WARDEX Data Exchange and does not include any sales activity from outside that resource. All research is done only on single family homes and there is no inclusion of modular homes, commercial properties, or vacant land. The geographical area researched includes; all areas within the boundaries of the city of Kingman, north Kingman, the Hualapai Mountain area, and the Valle Vista subdivisions. Click here to see maps of the included area's.

Listings:

As of January 1, total listings available for single family residence equals 514 (down from 569 on December 1). The total number of units that are listed as 'foreclosure' listings is 89. The rate of new listings taken per day in December was 2.8. Compared to last years total listings available on the market are down by 27.4%.

There were 86 new listings taken in December (fairly steady as compared to 84 in November). The total number of units listed as 'foreclosure' listings for December was 33. The average asking price for the new listings is $171,308 (down from last months $185,483). The median asking price is $124,550 (down from $129,000 previously). Newly listed units are up 21 units from last year and the average initial offering price dropped 15% as compared to December of 2007.

The average newly listed home in December has 3.12 bedrooms, 2.1 baths, a 2 car garage, with 1,660 square feet of living space and was built in 1994. The average asking price per square foot of living space is $103. Lastly, 14 of the new listings were actually re-listed either by the same or different broker. 11 units listed last month are already under contract and of those none had closed in December.

The original price of new listings last month was from $31,900 through $925,000.

Units under contract:

As of January 1 there are 71 total units under contract (up compared to the number of 62 last month). Of these, 33 were listed as 'foreclosure' sales.

46 units entered into contracts in the month of December (up from the 38 the previous month). Of these, 30 units were listed as 'foreclosure' sales. The average asking price for homes that received contracts was $125,725 (down from $130,848 last month) and the median asking price for December was $113,900 (down but steady from the previous months $114,900 figure). Units entering contract are actually up from December of 2007 by 21 units and the average marketing price is down 39%.

The average home that went under contract in December has 3.13 bedrooms, 2.1 baths, a 1.7 car garage, with 1,521 square feet of living space, and was built in 1995. The average asking price per square foot of living space for listings that entered contract in December was $82. It was also priced $13,951 higher when it first was listed as compared to its current asking price (the average price reduction was $19,742 last month). The average marketing time to reach a contract was 79 days (from 99 last month).

The advertised price of units that entered contract was from $47,900 through $354,900.

Conclusions:

The numbers that jump out are found in the new contracts in December. 30 of the 46 new contracts were of the foreclosure variety. Total domination by the banks. Banks are reducing price in less volume of total dollars (priced close to right from the start) and are moving inventory much quicker. The big number of course is the drop in price from last year, units taking contracts did so while being advertised for 39% less than in December of 2007.

I'm sure plenty of us are somewhat glad that 2008 is now over. One of the silver linings of last year is the no doubt movement in prices. While many have called on sellers to price their listings to market even as far back in 2006, it was only when the foreclosures became prevalent the sellers responded. According to many, there will be many more foreclosures to come in 2009.

I can't state to what level prices will ultimately fall to, I simply do not know. Inventory numbers look better than they have since excess inventory became a real problem in the market, but we are still a long ways to find balance.

The local economy obviously is something to keep an eye on. The new hospital promises higher paying jobs and it might mean some new neighbors coming to town. A couple of steel mills and a mine offer some hope. Builders are still saying that it is cost prohibitive to build in Kingman because of development fees, if that gets tested (by the reduction of fees) and builders come through that could have a nice effect on the economy. If any kind of positive momentum starts to kick in this year... it will no doubt be the year of the buyer.

Happy New Year folks... cheers to you!!

It's the end of the year and we know it...

Yep... that time again to get all cliche and wonder where all the time went and proclaim how things will change in the New Year.

So lets get this out of the way, shall we??

For me, Todd Tarson, 2008 was the year of living dangerously. New experiences led to new educational opportunity. In 2008 I ran for public office and remained in the real estate industry... danger-danger.

Before I cover the boring political stuff, lets move to the exciting real estate stuff. A look at the market over the past year.

In the first monthly sales report of the year, I reported that the average price per square foot of living space sold was $116 per. Earlier this month, the listings report showed the new sellers asking for an average price per square foot lower than the sales price per at the beginning of the year. While it wasn't the first time this year it happened (August sellers asked $109, and in September sellers asked $116), sellers simply took way too long to respond to the market.

Now that homes in the Kingman area are averaging $91 a square foot when sold, will sellers catch on quicker next year?? I'll keep an eye on it.

The resulting affects of this lack of understanding of the market, sellers were not able to sell their property even though there are more properties for sale now than at anytime in the boom years.


If buyers and sellers figure out each other in the New Year we will see the bottom of the market. For buyers... please check out the bank owned property to establish the low price you would pay for a home. From there you should expect to pay a higher premium for a nice marketable resale owned by a real person (not a bank).

For sellers... please talk to a real estate professional or two (or three) and ask them to mine the data of SOLD properties and separate the bank owned from the human owned. Take a good long hard look at comparable properties and price accordingly. The market has proved itself to be right each day, month, and year. You simply cannot beat the market. Waiting for just the right buyer to like your listing at your price (not the market price) is simply folly. It will cost you more money in the long run.

If you've read reports here at MOCO for any length of time, you know that I can pull data to customize it to your property. Give me a chance to give you a figure that your home will sell for... if you don't like that price... you don't have to hire me.

I'll have more on the real estate market in the coming days. The listings report for December will be out tomorrow and then the sales report later in the next couple of weeks. Also look for the annual report in January.

Care to make any guesses at the percentage point drop in average and median price in 2008 compared to 2007?? Leave your guess in the comments or email them to me. Winner gets a prize (to be determined, but it won't be expensive).

Alright, lets do some political stuff...

All in all, 2008 was not as politically charged as the year before. Yeah, even though there were a few elections of note, at least locally the rancor was limited.

2008, living dangerously, me... that would be my choice to run for city council. I would like to thank all the folks (just over 800 of you) that voted for me in the primary election, also would like to thank the other 8 candidates for a very respectful campaign, for one last time this year. It was the kind of experience and education that you simply can't purchase.

I realized that more activism is needed on an ongoing basis. And no, it doesn't have to be the over the top sort of activism. Simple stuff such as voter registration drives, meetings or town hall type of events on individual issues, mining relevant information from all sides of issues (you know the sort of thing that CIVIC was doing until the Miner and others attacked that group and its members unfairly).



2008 will also draw to close another year that nothing will be done with 168 acres of land that sits up next to the Interstate that splits town. No plans for a new park or drainage ditch like one political action committee used as possibilities when they worked their referendum in 2007. Yet on the other side of the freeway a new hospital is moving along quickly towards completion and many on the southern side of town won't be able to access that life saving property in times of emergency because there is no sensible access.

As luck would have it, in today's paper comes a wish list the city has submitted to the President Elect of the country. On this list is the proposed interchange... there is no such thing as a free lunch. No matter what folks, we will pay for infrastructure improvements... the key is doing it in a way that has the least impact on our pocketbooks. Relying on the Fed is not it.


Water as a subject was not covered with the panic we saw in earlier years, that is until a recent decision by the Arizona Corporation Commission gave the go ahead for a master planned development near Kingman in Mohave County. Now I'm getting emails that say I don't know anything about water and that I shouldn't be representing the people of Golden Valley that are concerned about their water. Well those Golden Valley folks are in luck as I have not been appointed or elected to any office that would equal representation of Golden Valley folks that are all panicky and think that one golf course will mean the death of life in an arid valley.

Before that recent decision... we saw water levels rise at Lake Mead and Lake Powell for the first time in years.



2008 also marked a year will a very interesting national election for president. I had a visitor in my office the day following when Barrack Obama won the Iowa primary. The young man that was my guest and I had a pretty nice conversation about the happening. I remember telling him that while I wouldn't have voted for Obama on that night (or for any election) that the results were, to me, very American of this country. Obama obviously went on to win the ultimate prize and while I may disagree with his politics, I sincerely hope he finds success in managing this great country (and funds the Kingman Crossing interchange... lol!!).

Obama has already done one 'solid' for the folks of Arizona. He's chosen our governor to head up some cabinet position. Cool. Time for the republicans in this state to show some leadership in terms of spending cuts and managing a budget. What a great chance, and hopefully it is not wasted.

Cartoon by Dave Walker. Find more cartoons you can freely re-use on your blog at We Blog Cartoons.

Social networking has become a big deal... and did so a couple of years ago really. I am just starting to catch up and I have to admit that it is at times overwhelming. Every time I think I've found a platform that I like and have mastered to a degree that is usable... something new rolls out and all the cool kids move along.

I have come to like (and be an addict of) Facebook in recent months. Over on the sidebar there, you can click on my info and add me as a friend... I'll accept. Once you friend me I'll send you an invite to a group pertaining to Kingman and positive growth efforts.


And you know... it has started to feel like that. This year I attended a real estate conference and one presenter spoke on social networks, Yvonne talked about it in a post a couple of months back. There was also another conference I attended and basically what was said is that in the not too distant future, all consumers will rely on their own network when making decisions on products and services to use and purchase.

While I work on the commercial use of social networking, in the last year through Facebook and other networks I have been able to reconnect with people from my past, really good people. Next year is my 20 year reunion and I wasn't really that excited about attending... but then folks from those days long gone by started friending me and now I can't wait to attend.

Welcomed in 2008...


Delaney Olivia Linn... appeared in June for the first time. Delaney is the third 'granddaughter' and all are beautiful (prolly because they aren't actually blood related).



I was also blessed with a niece... Jordynn Mae Hernandez was born in March.

Missed in 2008


We lost Arlene Stevenson back in the spring. The family will never be the same, but we feel her spirit often and she is never far from our thoughts and favorable memories.

Just a handful of hours left in this year known as 2008. It may not have been the best year on record, but it is a year I won't ever forget. I have respect for 2008 (hey, the Phillies won the World Series so I can't hate in total), but yeah... I'm curious to see what happens in 2009. I'm feeling positive about many things. I'm 'hope'ful for 'change'.

I'll be tipping one back later this evening, I'll be cheering for you -- the readers and contributors of MOCO. Stick around, I have a hunch that 2009 will be good for at least a few laughs.

Happy New Year!!

Only 513 homes needed to water golf course...

File this one under 'won't it be cool when there are 18 holes to golf on at Pravada'.

From this link...

Chris Gray of Marvel Golf Club in Benton, KY, winner of Rain Bird's second annual intelligent Use of Water honor, developed a water-harvesting program that captures not only rain, but run-off from roads and the waste discharge from the 513 residences surrounding his course. Residential water is gathered from separate septic tanks, then treated through aeration and mixed with surface drainage water in a holding pond – enough so that the 175-acre golf course is entirely self-sufficient, as reported by Golf Week.

Important to get some information out about this kind of thing before the water worry folks get all uppity (probably too late though).

Local gas prices...

Not for nothing, but I have had some questions via Internet on the price of gas in Kingman... why it is so high in comparison to other locations in Arizona.

Here is an article from the KDMiner stating the local average is $1.87.

I understand economics just barely enough to know that at times like these, profits are being taken. I'm cool with that... expected holiday traffic can come with a bump of price at the pump.

But then I see this... gas in Phoenix is down to $1.50 a gallon. Both articles appear on the same day. I filled up in Las Vegas on Christmas for $1.70 a gallon.

Since I relocated to Kingman in 2000, gas prices were traditionally lower in Kingman than in any other area in the near region. Just not the case these days.

But hey... don't forget to shop local!!

Update:



Included in that price yesterday was blowing snow and sub freezing temps!!

Making deals...

Yeah, yeah... we are in the worst economy of all time... since the last time.

One share for today. IndyMac is about to be bought up. That is correct, somebody is going to buy that bum of a bank.

Paulson & Company, led by John Paulson, has been one of the biggest winners in the subprime mortgage crisis, having reaped billions of dollars by betting against risky home loans. Paulson recently indicated to investors in his hedge funds that he was prepared to start buying up low-price debt like prime mortgages and investing in financial institutions.

Buying low, and probably selling high some day. The same as it ever was.

Soon, sometime, I bet we start seeing investors buying up low-priced property in the Kingman/Mohave County area. It is only one of our advantages in our region. Lots of money is sitting on the sideline... and we obviously have more to go to attract that money here. Supporting more infrastructure projects would likely make it happen sooner.

Recession watch...

Pretty cool link I found while checking out a RE blog from the LA area (Terra Firma LA). Has markets listed in each state as either in recession, at risk of recession, or in expansion. Click here to read the whole list.

Here is the bit for Arizona, should not be shocking...

Arizona -- In Recession

Flagstaff, AZ Metropolitan Statistical Area -- In Recession

Lake Havasu City-Kingman, AZ Metropolitan Statistical Area -- In Recession

Phoenix-Mesa-Scottsdale, AZ Metropolitan Statistical Area -- In Recession

Prescott, AZ Metropolitan Statistical Area -- In Recession

Tucson, AZ Metropolitan Statistical Area -- In Recession

Yuma, AZ Metropolitan Statistical Area -- In Recession

Looks like there is a lot of work needed to be done across the state... and at least a decent opportunity to get our own house in order to begin the process of recovery in the new year. The question is will we??

Merry Christmas...

For all the MOCO readers, please be safe and enjoy your holiday season. Thanks again for your time while visiting. I wish nothing but the best for you and your family... so be of good cheer!!

A fine reminder...

I found this blog post reading pajamasmedia.com and wanted to share. I think the story of this year is how big media and elected leaders in Congress got away blatantly blaming the mortgage fiasco, asset bubble pop, and dangerous drop in the economy on the current administration and anyone else that is perhaps a registered republican.

This article by Roger Kimball really gives it to big media (NY Times) and congressional democrats (mainly Chris Dodd and Barney Frank) and rightly so. It is a decent sized read so if you don't have time now, come back in a day or two and read all of it.

I'm not normally into dragging national issues to this blog, and I do not proclaim to be any sort of expert on big time political issues. It basically comes down to this... I've been reading about the 'blame' game for a long time. Real estate bubble bloggers, and more recently the big media types, have been blaming the real estate industry and/or registered republicans for all this mess for longer than this mess has been apparent and in our face nationally.

I consider myself to have an open mind so I have read many media reports, blogs, and anything else that I put in front of my eyes on all sides of the issue. I'll admit that I never heard of the Community Reinvestment Act in detail before this year, but for all the reports and words I have read Mr. Kimball's article sums it up the way that I have come to see the entire issue.

Please understand, I'm not playing to my own sensitivities as a real estate professional or even as a registered republican. While I love the industry I'm in, I can leave anytime I want... and I also do not consider myself a 'good' republican (I voted for some D's last month). Anyone is free to bash Realtors and/or republicans all darn day if they'd like, it bothers me not.

I'm not writing this to put the blame on anyone, I've only been searching for the possible causes and eventual affects. The thing that kept coming back to me was this quote I read back in September taken from comments from some publication (I often copy and save things just to have around... I don't remember where I got this though).

All pressure to reduce vetting of loan qualification has the cumulative effect of weakening the probability for loan repayment.

It is all right there. It was only a matter of time, and that time has passed.

Again, to me, the story of the year is how big media propagated the myth that these economic issues we face today were solely the fault of some republicans. There's plenty of blame to go around and I frankly don't care... I'm more interested in who has the solutions that will work. I seriously doubt the media or the elected politicians can be counted on for those.

Some foreclosures to look at...

I thought I'd try something a bit different. Below is a link to some foreclosed listings currently for sale on the market. If you have been thinking about picking up a low priced home in the Kingman you can consider these...

See foreclosure listings here

Also, if any of these listings included interest you and you choose to hire me as your representative on the transaction, I will sweeten the offer by giving you back 1% of the final sales price at the close of escrow. Some restrictions apply, contact me for more information.

Low prices, low interest rates, take a look at the link and see if there is a deal for you.

More coverage on the ACC decision re: Pravada...

Dave Hawkins has a piece that appeared in the Las Vegas Review Journal today, linked here.

Both Dave and Ric Swats (from earlier post) seem to have been the only media outlets with coverage of this very important decision from this weekend. The Hawkins article has some different quotes that I'll copy and comment on below...

Commissioner Kristin Mayes cast the dissenting vote after failing to pass an amendment that would have stalled construction of the golf course until enough homes were occupied to generate effluent to water the course. She said it would be "immoral" for Rhodes to waste groundwater on a golf course in the parched desert.

"Anybody who drives through Golden Valley knows this is the area where we need aggressive conservation," Mayes said. "Unfortunately, what we did today is we blessed off on the use of 900 million gallons of groundwater in Mohave County for a golf course."

First I feel that Kristin Mayes has had a bug up her rear end about this project from the beginning. Back in the summer of 2006 I was invited to speak at an open meeting at the ACC and gave my thoughts on the benefits to Mohave County that a master planned development could bring to the area. In my opinion watching the meeting that day, Ms. Mayes and another commissioner seemed hardly interested in what any of the public that favored new development in our area had to say.

Makes me wonder if golf courses in say Maricopa County saw this kind of scrutiny... and there are plenty of places to chase the little white ball around down there.

Luckily there were other commissioners that spoke to some facts...

Chairman Mike Gleason and Commissioner Jeff Hatch-Miller said there is nothing wrong with using groundwater for the course. Both said Rhodes and his staff had proved a sufficient water supply and that he is legally entitled to use the resource to build an upscale development unrivaled in the area.

"Mohave County generally hasn't had that luxury, a large master-planned community with a golf course and other amenities that people really want," Hatch-Miller said. "This (Pravada) affords that opportunity."

I'm sure people will disagree, but it IS okay to use groundwater to provide luscious green grass to play golf on. Although I'm not for certain, there seems to be popular belief that the city of Kingman picks up the water bill tab for the local course in Kingman and the water is just regular groundwater (I reserve the right to be wrong on this). However, the use of effluent on golf courses is gaining popularity in this new eco-friendly world that we are being dragged into. At this point I'm indifferent on the issue.

But why are we even talking about effluent and golf courses here?? I thought this ACC ordeal was to decide if an entity was worthy enough to serve as a utility, in this case for water services, for a planned development where people will one day live. The commissioners above had said the property owner is legally entitled.

Be sure to read the rest of the article linked at the beginning, good comments about the developer placing importance on water conservation by limiting the amount of turf on residential properties and use of water conservation products in the homes that will be sold there.

The overall good news here is that the developer is in the best postition now to decide the fate of the development, now it is basically just the developer vs. the market. There may be some approvals needed at the county level, but this ACC decision has been in the works since 2005 believe.

Hopefully there will be more reports on the intentions of the developer in the days ahead.

Decision made on utility company in Golden Valley

Here it is folks, after three plus years... the Arizona Corporation Commission last night ruled to allow Perkins Mountain Water Company to operate in the Pravada master planned community.

Ric Swats has a timely article on the whole thing... please follow this link from MohaveBusiness.com.

The decision makes it viable for Rhodes to begin developing infrastructure necessary to move forward with the construction of homes.

'Tis the season for bold predictions...

As customary, we are now in the part of the year where many will make predictions on what happens next year. While I don't make such bold predictions myself, I do like to look at real estate related reports to see the takes of others.

This is the first such bold prediction post I've seen so far. It comes from Frontdoor.com.

The link to that site is here, and below I'll copy a shorter version from another site which just so happens to be the National REALTOR Association website.

* Sellers will continue to face falling home values in the new year because they’ll be competing with banks and builders who are slashing prices to sell off the still-huge inventory of foreclosures and new homes.

* The Obama administration will act on its plan to crack down on abusive lending practices.

* Mortgage holders in danger of losing their homes will receive more assistance from a variety of programs since the Senate's Joint Economic Committee has predicted two million foreclosures in 2009.

* Banks' restructuring should bring increasing calm, making loan modifications and short sales easier to obtain. Eventually this will lead to a decrease in the number of bank-owned properties on the market.

* Mortgage applications will continue to receive a comprehensive review, requiring borrowers to provide extensive income and debt documentation. Those with the best credit will get the best rates.

* The foreclosure crisis has created wiser consumers, with a deeper understanding of real estate, mortgages, and credit enabling better decision-making going forward.

* Green is good with increasing numbers of buyers opting for smaller homes that are within walking distance of school and work.

* Buyers and sellers will be more and more tech savvy, relying on tools like video, webcasts, and mobile search. Consumers and practitioners will benefit from being ahead of the curve.

* Prices will be low as will interest rates, creating great buying opportunities, and likely, inspiring reluctant buyers to make their move.

* The recession will end and buyers will regain confidence in the market.

I basically agree with five of these predictions, and I'm not either comfortable or confident enough with the rest. Read from the link above to get the whole take on each.

Now for a local econ development report...

Mohave County has an economic development department, and MohaveBusiness.com editor Ric Swats sat down with the deputy director for some interesting discussion.

Read it all here... and I like this quote the best...

The downturn in the economy is a difficult thing to live with, Peterson said, but it is also a time to act to take advantage of the situation.

“There is a ton of opportunity right now,” Peterson said. “We’ve see a lot of prospects we thought we’d lost to other higher-cost areas come back and take another look at Mohave County. They see an advantage to our lower costs.

“We compete as a low-cost provider. In times of economic decline those areas of the country that are low cost providers see the most benefit.”

A follow up on econ development from yesterday

Yesterday I posted this.

Here is the report on the new development, including...

Southwestern Energy will build a regional headquarters in Conway, employing as many as 450 people in the second major economic development project announced for the city this year.

The announcement was made Thursday at Hendrix College, which is building The Village at Hendrix, a 100-acre "new urbanism" development where Southwestern intends to build its 100,000-square-foot, $25 million facility.

And of course a telling quote from the Governor of Arkansas...

Governor Mike Beebe, speaking at the announcement, said it's "not an accident" that Conway has played host to two of the year's largest projects, saying that "Conway ends up successful in so many areas because of people," and "so often it's the local effort that makes the difference" when it comes to attracting large-scale businesses like Hewlett-Packard and Southwestern Energy.

And don't call it a sell out either...

Southwestern energy is getting "some performance-based incentives" for building a regional headquarters in the state, according to Beebe, but no incentives were offered by the city to entice the business.

...

"There were no discretionary incentives used in this deal," Lacy said. "They truly weren't out to get a lot of money on this; it wasn't incentive-driven for them. I think they do like it here and we like them, so it's a good partnership. I can't say it enough, they've been great corporate neighbors."

Development officials see opportunity in downturn...

That's the headline of this article linked here.

Now is the time to start thinking about smarter economic development, Vicki Pratt Gerbino said.

Gerbino, president of the Greater Wichita Economic Development Coalition, is floating a proposal for local government and business leaders to create a new strategic plan for the region's economic development effort.

"What we don't have is a plan that flies at 30,000 feet," she said.

It is well passed time to begin efforts for smarter economic development locally.

She sees the plan as examining the kind of projects and programs needed to attract and retain the most -- and most desirable -- companies.

One example, she said, is that many people have told her the area's property taxes are outrageously high.

That's not true -- she comes from western New York, where property taxes are much higher -- but the perception must be taken seriously.

To lower property taxes, some communities have shifted toward a sales tax. To make a sales tax really work for a community means boosting tourism, shopping and convention traffic.

And that, she said, would mean more dollars spent on projects to lure tourists and travelers.

These are discussions that should happen now, she said, because the coalition's workload has eased as the economy has slowed.

I didn't emphasize convention traffic because we don't really have large conventions in Kingman.

I'm done with this type of posting... until I find more in spare moments.

A new hire assistant city planner...

No, not here in Kingman, but lets see what this new hire near Des Moines is talking about... from this article.

Expanding economic development becomes more important - yet difficult - during a financial downturn. Annika Schilke is ready for the challenge.

Schilke took on the new role of assistant city planner and economic development specialist for Urbandale on Nov. 10. The position has a starting salary of $39,080.

"I was particularly interested in the economic development aspect of this position," she said. "Plus, I've fallen in love with this area."

Thats the introduction... now for future plans...

Planning for future

In addition to current available retail space, Urbandale has 1,000 acres of land for new commercial development along the Interstate Highway 35/80 corridor. While there isn't a high demand for that space right now, Schilke sees that changing during the coming decade.

"As Urbandale and the western suburbs continue to grow, demand for retail space and services will be higher, so we'll be able to fill all that space and more in the future," she said.

Schilke believes Urbandale's response to economic development has been as aggressive as surrounding cities. To continue this, she hopes her new position will "allow the city to be more proactive, and be better able to execute its marketing plan, respond quickly to inquiries about land use and incentives and better track available land and buildings."

"We really want to make the process at the city level more user-friendly and inviting," she said.

Be nice to see more of this kind of talk, wouldn't it??

Shucks... a sewer rate increase...

See, I can be fair and balanced (balanced?? Eh... debatable at best)...

From here reports the increase in fees...

LOCKPORT — The Town Board approved a sewer rate increase Wednesday and confirmed the appointment of the town’s first economic development director.

More on the latter below after the rate increases.

Councilman Paul H. Pettit cast the only vote against the sewer plan, which takes effect Jan. 1. It increases the minimum quarterly charge to $30 from $25 for all users and also adds a residential usage fee for the first time.

Residential customers’ quarterly fee will cover only the first 15,000 gallons of water they use, and then they will pay $1 for every 1,000 gallons above that.

I don't know how much volume on average a residential unit typcially goes through in a month or a quarter. But it appears Kingman isn't the only place raising rates.

Now for the econ development director stuff...

Also Wednesday, the board confirmed Smith’s choice for the new economic development director— David R. Kinyon, former president of Eastern Niagara Chamber of Commerce — at a salary of $65,000 a year.

...

Councilwoman Cheryl A. Antkowiak told Kinyon, “I’m excited that you’re coming aboard, and I have two words: park pavilion.” She wants Kinyon to find grant funds to construct one at Day Road Park.

Thats just part of what economic development departments do folks.

Alt energy and econ development

From here. Starting with this quote...

"2008 has been a busy year," Clearfield County Economic Development Corporation's Executive Director Rob Swales said at Wednesday's annual luncheon. "We are spearheaded to be the anchor of alternative energy in the area, and we're looking for a bright future here."

Then this from that states (Pennsylvania) Lt. Gov.

Lt. Gov. Joe Scarnati also spoke.
"We have to get through what is probably the worst financial crisis, that not only this nation, but this Commonwealth, has faced in decades, and it's going to be done with cost cutting and with efficiencies," Scarnati said. "No business, no county, no community, no state can plan one year at a time. We truly need a vision, and we need a vision that gets us to a point in this Commonwealth where we can have consistency, stability and continuity in all of our policies, our plans and our taxing. That is what I believe is the most important issue facing Pennsylvania today - to have a vision of the future and articulating that vision so that Pennsylvania job creators know where the Commonwealth is headed."

Nicely put L'Gov. Mind giving that speech here locally??

More econ development efforts...

Another link with some gold to quote.

First this...

"Introducing Another Energy Boost for Faulkner County ... Conway's Latest Economic Development Project" reads the custom-printed label on a can of energy drink mailed Wednesday to news media and other stakeholders in whatever new project is coming to Conway.

Lacy was tight-lipped as to the nature of the project, saying only that the development will, in some ways, equal the Hewlett-Packard facility being built in The Meadows Office and Technology Park, though it won't equal H-P in terms of employment numbers.

Alright, benign enough. Now this...

The latest announcement also bears a warning: "Does contain a significant number of new jobs, high salaries and otherwise general healthy economic conditions. Not recommended for citizens against exciting news, opponents of a vibrant local economy or people allergic to smart choices."

LOL!! Would so much love to see something like that printed around these parts.

Kingman, a winter wonderland

Just some pictures from yesterday, this one is looking across the street from my office


This one was from Tuesday afternoon, I caught Mr. Claus driving down Rte 66!

Developing their assets...

Tornillo Access Road Creates Shortcuts, More Economic Development

Jenn Dombrowski-KFOX Las Cruces Bureau Reporter

Tuesday, December 16, 2008 – updated: 6:12 pm MST December 16, 2008

TORNILLO, N.M. -- The small East El Paso County community of Tornillo prepares for a big boost to its economy.

Tuesday, they broke ground on a new international bridge and access road, linking the town to Mexico.

The groundbreaking gives truckers a shortcut away from the busy highways of Juarez and El Paso straight on through to the east, and it brings the possibility of a major economic boost to Tornillo.

By spring of next year, the access road should be complete, and that’s when the community could see other businesses move in.

...

“It's an economic engine. The County of El Paso will own the bridge so it will be another source of income for the county. The potential economic development of this entire region is going to be full of warehouses and factories out here.

Residents said their farming community is ready for a change.

“There's no work here. All the people are leaving to other places so they're leaving their homes and families behind,” said Tornillo resident, Luis Sarinana.

They said a bridge and new jobs will open new opportunities.

Link here.

Despite the recession, efforts roll on...

Georgia like the rest of the nation is suffering through the recession. But a group of state economic development leaders on Tuesday said Georgia is well positioned to weather the storm while still expanding its global reach.

That’s because they say key ingredients remain strong in Georgia. They point to workforce training, ability to attract a young population, and Georgia’s transportation infrastructure.

Linked here.

More econ development efforts...

While we sit and wait... other communities work on solutions.

Link here...

“The goal is to get projects accelerated,” Bartz said. “We’ve identified $350 million in projects ready to go.”

He said the country’s infrastructure is crumbling and that these public works projects are important.

“It will save jobs and get people back to work,” Bartz said.

Engel said the government needs to continue to create an environment to attract new businesses to the county.

“We have to concentrate on bringing in new dollars,” she said. “The county has become business-friendly and over the last year the attitude has changed.”

Oh but I know... hide in the shell until this all blows over.

Bustle said some real estate people are telling businesses not to look at Manatee County because of a perceived anti-business climate.

“We need to overcome that reputation,” he said. “We also need to look at impact fees and everything that affects creating a successful business.”

Engel said there needs to be more diversity in the types of businesses the county is trying to attract.

Sounds a little familiar.

Not everyone is increasing fees these days..

Found this...

The Henrico County Board of Supervisors tonight passed an emergency ordinance to reverse a recent increase in water and sewer connection fees.

County Manager Virgil R. Hazelett said the action was taken "to encourage continued economic development in Henrico County during the current economic slowdown."

...

County officials previously said the increases, recommended in a recent rate study, were necessary to keep existing customers from subsidizing the expansion of the utilities system.

Just a little something to pass the time while it snows.