Monday Report |
Weber County Residential Defaults |
September 2, 2008 |
SCORECARD
Weber County Residential Defaults July 2007
to July 2008
ZIP | City | # of
Defaults | Total Value of
Defaults | Average Default Value |
84404 | Farr
West | 131 | $16,366,407 |
$124,934 |
84067 | Roy | 93 |
$13,494,001 | $145,097 |
84401 | Ogden |
77 | $8,604,019 |
$111,741 |
84403 | Ogden |
76 | $10,183,782 |
$133,997 |
84405 | Ogden |
39 | $22,088,706 |
$566,377 |
84414 | North
Ogden | 21 | $4,509,273 |
$214,727 |
84310 | Eden |
11 |
$4,228,807 | $384,437 |
84315 | Hooper |
11 | $2,284,614 |
$207,692 |
84317 | Huntsville |
9 | $4,284,683 |
$476,076 |
Totals | |
468 | $86,044,292 |
$183,855 |
Source: NewReach Builders Decision, August
2008
4 areas representing 377 homes or 81% of
the total have an average value of under
$150,000 Weber County Residential
Defaults July 2007 to July 2008
ZIP | City | # of
Defaults | Total Value of
Defaults | Average Default Value |
84404 | Farr
West | 131 | $16,366,407 |
$124,934 |
84067 | Roy | 93 |
$13,494,001 | $145,097 |
84401 | Ogden |
77 | $8,604,019 |
$111,741 |
84403 | Ogden |
76 | $10,183,782 |
$133,997 |
Source: NewReach Builders Decision,
August 2008
3 areas representing 59 homes or 36% of the
total amount of default have an average value over
$384,000! Weber County Residential
Defaults July 2007 to July 2008
ZIP | City | # of
Defaults | Total Value of
Defaults | Average Default Value |
84405 | Ogden |
39 | $22,088,706 |
$566,377 |
84310 | Eden | 11 |
$4,228,807 | $384,437 |
84317 | Huntsville |
9 | $4,284,683 |
$476,076 |
Source: NewReach Builders Decision,
August 2008
THIS WEEKS LEADS:
- Kitchen Collection
- The Kitchen Collection, Inc. trades as Kitchen
Collection at 200 locations nationwide.
- The stores,
offering a variety of cookware, bakeware, small
appliances, marble, ceramics and gadgets for kitchen
tasks, occupy spaces of 3,000 sq.ft. to 3,300 sq.ft. in
outlet centers.
- Growth opportunities are sought
throughout the existing market during the coming 18
months.
- Typical leases run five years.
- A vanilla
shell and specific improvements are required.
For more information, contact
- Larry White,
- The Kitchen Collection, Inc.,
- 71 East Water
Street,
- Chillicothe, OH 45601;
- Web site:
www.kitchencollection.com.
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Greetings!
Weber County Residential
Defaults - Where are
they?
- How many?
- Just the rich?
- Just in
the north?
- Just in the south?
Bob Springmeyer
Bonneville Research
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Bonneville Research Website |
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Check out our Bonneville Research Website!
www.BonnevilleResearch.com
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Bonneville Research |
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ECONOMIC NOTES: |
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- GDP
- The GDP growth rate in the second quarter was
revised upward to 3.3% from 1.9%, exceeding
expectations. In the first quarter, real GDP increased
0.9%. The big upward revisions to the headline
number was accompanied by a large revision to the
components: Final sales (GDP less inventories) are
now reported to have increased at a 4.8% annual rate,
the fastest rate in more than two years. The better than
expected outcome overall does not change our view
that the economy is weakening, with the beneficial
effects of rebate checks and foreign demand fading
fast. Corporate profits edged down for the fourth
straight quarter, falling twice as fast as in the first
three months of the year.
- The Conference Board Leading
Indicators
- The Conference Board index of consumer
confidence rebounded further in August to 56.9 from
July's 51.9 (unrevised). The expectations component
of the index was responsible for the gain, rising to
52.8 from 42.7. The gauge of the present situation fell
to 63.2 from 65.8. Assessments of current labor
markets conditions deteriorated further.
- Durable Goods (Advance)
- New orders for durable goods rose 1.3% in July,
surpassing expectations for only a slight increase.
Core capital goods orders also surprised on the
upside, increasing 2.6% over the month. Shipments
were up 2.5% and unfilled orders and inventories
each increased by 0.8%. The report is a good sign
that business investment is holding up despite the
slowing economy and tight credit conditions.
- Bankruptcy Filings
- Growth in personal bankruptcy filings accelerated
in the second quarter in response to the weak credit
conditions in the economy. The number of filings
remains low, but are still impacted by reforms enacted
in late 2005. Filings were 31% above last year, but
remained nearly 50% below the second quarter of
2005, before reform legislation and in a better credit
environment. Business bankruptcies appear to have
returned to near equilibrium levels, with filings up 45%
from last year and 11.5% over the past three
years.
- Jobless Claims
- Initial claims for unemployment insurance
declined 10,000 to 425,000 for the week ending
August 23. This is in line with expectations and is the
third consecutive decline. Claims have been backing
off the high level reached late last month and early this
month, which was due to an increased awareness of
UI benefits due to the recent benefit extension.
- Case-Shiller Monthly Home Price
Indices
- Both the 10-city and 20-city composite S&P/Case-
Shiller house price indices declined in June from May.
The 10-city composite fell by 0.6% and the 20-city
composite fell by 0.5%. Both declined by record year-
ago rates in June. The 10-city composite was down
17% over the past year, and the 20-city composite was
down 15.9%. Prices were below year-ago levels in all
20 metro areas.
- New-Home Sales (C25)
- The new-home market remains quite weak but is
stabilizing, according to Census Bureau data. In July,
home sales increased by 2.4% m/m; however, the
Census Bureau revised June sales significantly
downward. July sales came in at 515,000 annualized
units, which was 3% below the sales initially reported
for June. Other indicators also remain weak. The
median house price is declining, months on the
market are rising, and months of inventory remain
high.
- OFHEO Purchase-Only House Price
Index
- The OFHEO purchase-only house price index held
steady in June as a few key regional markets rallied.
The slowing of house price declines could be an
indication that the housing market is reaching bottom.
Nevertheless, prices are still down by 4.8% compared
with June 2007, and only in the West South Central
region are house prices higher than they were one
year ago.
- MBA Mortgage Applications Survey
- The MBA market composite indices increased by a
slight amount for the week ending August 22, while
contract rates also decreased by a small amount. The
market index finished up by 0.5%, the purchase index
finished up by 0.6%, and the refinance index finished
up by 0.3%. Overall the demand side of the mortgage
market remains weak, but has at least held steady
thanks to the lack of recent bad news about financial
losses.
- Chain Store Sales
- Chain store sales inched up 0.2% in the week
ending August 23, the second consecutive small gain
following a larger 1.1% decline, according to the ICSC.
Year-over-year growth slipped to 2.3% the weakest in
six weeks. The ICSC noted an improvement in store
traffic supported by lower gasoline prices, offset by
unfavorably cool weather in the week.
- Oil and Gas Inventories
- Crude oil inventories unexpectedly declined by 0.1
million barrels for the week ending August 22,
according to the Energy Information Administration, in
contrast with expectations of a 1.1 million barrel build.
Gasoline inventories fell by 1.2 million barrels, less
than estimates of a 2.5 million barrel decline.
Distillate supplies were unchanged; expectations
were for a modest build. Refinery operating capacity
rose strongly to 87.3%. Total domestic petroleum was
little changed. This report is bullish.
- Natural Gas Storage Report
- Working gas in underground storage rose by a
robust 102 billion cubic feet during the week ending
August 22, well above consensus expectations of a 84
bcf build. However, growing concerns that Tropical
Storm Gustav will limit natural gas production in the
Gulf of Mexico over the next few weeks will limit
downward movement in prices.
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BONNEVILLE RESEARCH - Working with clients to deliver results that endure! |
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Successful client work requires a
superior team of
outstanding people working fluidly together.
Bonneville Research is the one firm with
the
experience and expertise to help
businesses,
governments and nonprofit organizations
solve their
toughest problems.
We work to help clients achieve enduring
results
and improve the communities in which we
live.
BONNEVILLE RESEARCH
Bonneville Research is a Utah-based
consulting
firm providing economic, financial, market
and policy
research to public and private sector clients
throughout the intermountain west.
Helping Clients Succeed
Our services include:
- Financial Analysis
- Business License Studies
- Impact Fee analysis
- Urban Renewal & Redevelopment
Analysis and Budgets
- Strategy and Policy Analysis
- Economic and Fiscal Impact Analysis
- Statistical and Survey Research
- Public Sector Mission
Effectiveness
Each of our studies is tailored to address
the
unique needs of our clients and their
communities.
If we can help, please call or email us at
- Bob
- 801-364-5300
- [email protected]
- Jon
- 801-746-5706
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[email protected]
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Note from Bob Springmeyer: |
As some of you may know I am the Democratic
Candidate for Utah Governor.
I chose retired SBA official and long-time
community volunteer
Josie Valdez to run as my lieutenant governor.
We now have a staff, lawn signs, bumper stickers
available.
It is my hope that I can continue to send out the
Monday Report weekly without interruption.
The Monday Report has always reflected my
business and economic development values.
I don't intend for the Monday Report to become
a campaign tool, but if you are interested in my
campaign and want to be supportive, please click on
the link below.
Thanks,
Bob Springmeyer
The good education, good jobs, good health and
good government candidate for Utah Governor
Election Date: November 4th, 2008
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November 4th, 2008
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