Archive for January, 2006
Since I’m getting tired of saying that the market makes little sense, I thought today I’d let David Lereah, Chief Economist of the National Association of Realtors, say similar things. He also has a forecast of realty activity for 2006, and it’s pretty good.
New home sales were up sharply in December. This is a trend, now. New homes sell. Existing homes don’t. This is, of course, an oversimplification, and tells us, as I mentioned earlier this week, nothing whatever about your particular house. But in general, homebuyers are more interested in brand-new houses than in existing homes. I cannot explain why. Especially in Utah, I prefer homes that are 20 years old, because the trees have had time to get taller than I am. But I am weird, and I’ve learned to accept that. What it means is that people like me are getting better deals on the homes they want to buy, and even better deals on the new homes they are building for sale.
If you were paying attention to this space, and some of you were, you knew this last fall and are now sitting on some very solid assets. You’re welcome, Chad.
We’ve been playing lots of chess here recently, I guess to stay sharp. If you’d like to get in on some of the action, stop on by. I could use some help as black dealing with the Queen’s Gambit.
The Chris Jones Group would like to make you aware of the Lehi Area Chamber of Commerce meetings the first Tuesday of every month at the Harvest Restaurant at Thanksgiving Point at noon. Lunch and the speaker and the networking and the whole enchilada is $15. You won’t regret it.
Since there is nothing happening this weekend, there will be no predictions. My prediction is that nothing will happen. See that I am right.
Today’s economic news showed slow consumer spending and, again, no inflation. Miracle of miracles, higher energy prices are not bleeding into the rest of the economy. This is a miracle only because higher energy prices – those resulting from a major spike in energy costs, like the one we had in the fall – never result in increased general inflation. Right. Never. It’s never happened. Economists are mystified that the economy seems to be doing exactly what it has always done.
Bond traders, however, greeted the report with joy, and the bond took off. We lost about 1/8 to the 30 and 15-year rates over the last two days – good news for the .14378% of homeowners that have yet to refinance, and even better news for those buying houses. Of which, let me tell you, there is a plethora.
A few of the better links I’m reading:
Does This House Make My Butt Look Fat, a post by the always interesting David Porter of the Pacesetter Mortgage Blog
Overheard in New York, which accurately portrays exactly why I live in Lehi, UT
What is Your Dangerous Idea? for those of us that like living dangerously
Grim Times Ahead, by the most amusing – and consistently wrong – mortgage blog on the ‘net. The premise of this article is that an 8% decline in mortgage applications will usher in the Reign of the Undead. Frankly, if that 8% decline gets rid of 8% of the loan officers I know, we will not yet have gotten to the ones that are merely incompetent, and not willfully evil. This industry has tripled in size in the last 5 years, and could use a trim, if you know what I mean, and I think you do.
And a new installment of the Chris Jones Watch, where I show you yet another of myselves out there on the www. Today, I am a pitching prospect for the Boston Red Sox. But for shoulder surgery, I might be with the big club already. But there is progress of another kind – our website, which when last seen was not mentioned on the web under Chris Jones Group, is now 21st and 40th on Google’s rankings, a dramatic improvement. Mostly thanks to you, I believe. We continue (as the Lehi Chamber Press Release says) to rank #1 on Technorati’s rankings under utah housing, and we’re intent on staying there.
Broncos beat the Patriots in overtime. Bears lose to Carolina by 7. Redskins just don’t have enough offense for Seattle, and Indianapolis crushes the Steelers.
The Jazz, the MIGHTY JAZZ, beat the Heat tonight for their ninth win in ten games.
Have a great MLK weekend.
FOR IMMEDIATE RELEASE 12 January 2006
Contact: Wells Kempter 801.310.9175
New Lehi Area Chamber Chairman Says Chamber Will Double in 2006
Lehi – The Lehi Area Chamber of Commerce Board of Directors has named Christopher Jones, 37, of Lehi, its Chairman for 2006. Jones laid out a very aggressive agenda for the Chamber in his inaugural address. “We are gong to double the size of the Chamber this year,” he said, speaking at the Chamber’s monthly luncheon, held at Thanksgiving Point’s Harvest Restaurant. Jones replaces Lisa Liddiard, also of Lehi, as Chairman. Liddiard presided over one of the fastest-growing periods in Chamber history in 2005, where Chamber membership increased almost 25%.
“We are very excited to have Chris as our Chairman for 2006,” said Heather Miller, President of the Chamber. “Chris brings a lot of energy and good organizational skills, which we need. He also has a specialty in communications and marketing, which will be very important for us in the coming year.” Recent announcements of development in Ivory Ridge and Traverse Mountain are expected to mean increases of up to three times the current retail square footage in Lehi in the next five years.
“We are going to substantially boost the community and commercial impact of the Chamber and its members,” Jones said. “The Chamber has already become a solid force for good in the Lehi, Saratoga Springs, and Eagle Mountain areas, but we can do more. We will be working closely with the American Fork Chamber and you’ll see a huge impact from the Chambers in all of north Utah County this year.”
Also elected to Board positions were Kris Belcher of Flowers on Main, who became the Chamber’s Vice-Chair, and Lisa Liddiard, who stepped down from the Chair position to become the Board’s Secretary. Kelly Terry remains the Chamber’s Treasurer.
Jones mentioned that he had recently attended the Eagle Mountain Inaugural Ball and had a chance to speak to Brian Olsen, the incoming Mayor, as well as John Walden, the chief developer of Cedar Valley. “There is going to be an explosion of commercial activity in the west of Utah County over the next five years. The Lehi Area Chamber could exit the decade as the largest Chamber of Commerce in the county. It’s our job as a Board, as a Chamber, to go out and find these new businesses, hook them into the existing economic network, and help them succeed.”
Chris Jones is the Resident Magician of the Chris Jones Group, a real-estate finance and mortgage company. Resident Magician? “When you found the company, you can call yourself anything you want,” Jones laughed. “We are a little different as a company, and we wanted titles that reflected that difference.” The Group’s motto is “Get a Home for Everyone in the World. Then Start Over.” Jones writes a blog at www.thechrisjonesgroup.com that Technorati.com rates as the #1 blog for Utah Housing, and he was recently asked to speak to the State Legislature on real-estate tax issues.
# # #