COMPASS Making Connections Conference

I had the pleasure to attend the COMPASS sponsored conference on Transportation Funding, Land Use & Politics last week. From the outset, I must say that this was an extremely organized, well attended conference that included several guest speakers from a variety of backgrounds.

I was a bit hesitant to sign up for this conference. I typically find these events to be a general waste of time. With guest speakers talking on issues that frequently are difficult to relate to and that are at such a high level view point it is hard to walk away with any useful information that can be applied to your business or day to day life. This conference was a very pleasant exception.

From the minute you walked in to the Boise State University Ballroom, you could see and feel the hard work that had been made by the organizers of this event. The Exhibit Room provided a wealth of information that is applicable to anyone that calls the Treasure Valley home. There were a variety of booths that provided information on ACHD, the impact of residential infill projects as well as comprehensive plans for our roads and infrastructure. These booths were well staffed with people from the various agencies that had a great grasp on the issues and were very open to answering your questions.

The start of the event involved a gracious welcome and overview from COMPASS Chariman John Fraden and BSU Professor Stephanie Witt. Unlike your typical "yawn, get on with the program welcome" this included a question and answer session from the audience that provided some great insight for what the day would hold.

If you have the slightest interest in what is in store for our wonderfull community, you owe it to yourself to attend this event. For those interested in a snap shot picture of what is being planned, take a look at the Communities In Motion web site: http://www.communitiesinmotion.org/.

Treasure Valley Real Estate

A frequently asked question I hear is if there are any homes selling given current market conditions. During the 3rd quarter of 2008, we averaged a little over 660 homes sold per month in the Valley. This compares to 775 sold per month during the same quarter of 2007. While this is a fairly big drop, there is some good news in these numbers.

During September of this year 668 homes sold. This is a substantial increase over the 574 homes sold in September of 2007. Additionally, we are seeing a significant decline in the number of homes for sale. During the 3rd quarter of 2007 there was an average of 7,769 homes on the market. This compares to 6,857 homes this year. A couple of factors are driving the reduced inventory. Probably one of the biggest factors is that we have seen a very large drop in the number of new homes being built. Based on the data through September, I estimate there will be a total of 1,500 building permits issued during 2008 for single family homes. This compares to over 7,500 in 2005. With fewer new homes being built, we will continue to see the number of homes for sale drop. With fewer choices, prices should stabilize and gradually increase.