North Idaho Real Estate Blog Keeping the “invisible” property owners of Kootenai County in-the-know, as if you were here on a daily basis. 208.769.9464 * dreamteam @ nidt . com * Author: Christina Ethridge, REALTOR(R)

The strong real estate market is holding, with leaders in the industry still growing:

The top three Inland Northwest builders of single-family homes—Viking Construct­ion Inc., Sullivan Homes Inc., and Green­stone Corp.—all saw their total building-permit values rise last year, compared with 2006, says an annual list compiled by Cedar City, Utah-based Construction Monitor Inc. The combined value of permits obtained by the area’s top 10 builders last year was $177.8 million, down from $180.7 million the year before.

Another company growing and expanding, creating more jobs in the area:

Magnuson Hotels, a 5-year-old Spokane-based company that markets and provides reservation management services to independent hotels, says its business has soared since it launched a branding campaign last September.

About 100 hotels across the country currently are in various stages of changing their identities to the Magnuson Hotel brand, says Tom Magnuson, CEO of the company, which portrays itself as a low-cost alternative to expensive franchise chains. Another 500 hotels are affiliated with Magnuson Hotels, but aren’t using its brand name, he says.

Manufacturing is increasing slowly but surely:

A Rathdrum Prairie company that makes foam insulation and packaging materials is expanding its manufacturing complex considerably and plans to hire five to six additional workers once the expansion is completed.

The company, FMI-EPS LLC, which formerly was known as Foam Molders Inc., is having a 31,000-square-foot plant built for it just east of its current, 45,000-square-foot facility at 9456 McGuire Road, which is just south of Hayden Avenue and north of the city of Post Falls. The total cost of the project, including a $900,000 piece of equipment that will be installed in the new building, is about $3.4 million, says Gary Bremer, who co-owns FMI-EPS with his wife, Glenda.

Posted under Economics of North Idaho

The strong real estate market is holding, with leaders in the industry still growing:

The top three Inland Northwest builders of single-family homes—Viking Construct­ion Inc., Sullivan Homes Inc., and Green­stone Corp.—all saw their total building-permit values rise last year, compared with 2006, says an annual list compiled by Cedar City, Utah-based Construction Monitor Inc. The combined value of permits obtained by the area’s top 10 builders last year was $177.8 million, down from $180.7 million the year before.

Another company growing and expanding, creating more jobs in the area:

Magnuson Hotels, a 5-year-old Spokane-based company that markets and provides reservation management services to independent hotels, says its business has soared since it launched a branding campaign last September.

About 100 hotels across the country currently are in various stages of changing their identities to the Magnuson Hotel brand, says Tom Magnuson, CEO of the company, which portrays itself as a low-cost alternative to expensive franchise chains. Another 500 hotels are affiliated with Magnuson Hotels, but aren’t using its brand name, he says.

Manufacturing is increasing slowly but surely:

A Rathdrum Prairie company that makes foam insulation and packaging materials is expanding its manufacturing complex considerably and plans to hire five to six additional workers once the expansion is completed.

The company, FMI-EPS LLC, which formerly was known as Foam Molders Inc., is having a 31,000-square-foot plant built for it just east of its current, 45,000-square-foot facility at 9456 McGuire Road, which is just south of Hayden Avenue and north of the city of Post Falls. The total cost of the project, including a $900,000 piece of equipment that will be installed in the new building, is about $3.4 million, says Gary Bremer, who co-owns FMI-EPS with his wife, Glenda.

Posted under Economics of North Idaho

People are simply ready to panic - they want to panic. They need drama in their lives. They can’t handle calm, relaxing reality.

What am I talking about? Those that are up in arms and spewing drama about Coeur d’Alene on it’s last legs - that Coeur d’Alene real estate values are going to plunge 10% - 20% - 30%. Gong - you’re wrong. They ignore reality.

Here’s a case in point. When Coldwater Creek laid off 60 some employees a few months ago (outside of their normal past-Christmas lay off of customer service reps), people started panicking. I heard it on blogs, in person, in the news, etc. No one wanted to hear that it might be a restructuring of a department or area, that it might have been an excuse to get rid of inefficient employees, etc. The extremists made sure that the world knew that it was the beginning of the end - for potentially Coldwater Creek AND Coeur d’Alene.
Now Coldwater Creek is expanding their facilities.

Despite recent layoffs and a downturn in its sales, Coldwater Creek Inc. is proceeding with an expansion project that includes a $9 million, four-floor office building and a $2 million addition to its call center in northwest Coeur d’Alene.

Coldwater Creek, the Sandpoint-based women’s clothing retailer, says the new Coeur d’Alene structure will house the company’s growing information-technology operations.

Lydig also is constructing a 14,000-square-foot addition onto the east side of that center, Singer says. He says the addition will include an employee fitness center, an expanded kitchen and dining area, and additional loading-dock and storage capacity.

Coldwater Creek laid off 65 employees at several of its facilities earlier this month due to lagging sales, but said the action was intended to “position us for sustainable growth,” and the company remains committed to continuing its operations in the Sandpoint and Coeur d’Alene areas.

Article here.

Posted under Economics of North Idaho

People are simply ready to panic - they want to panic. They need drama in their lives. They can’t handle calm, relaxing reality.

What am I talking about? Those that are up in arms and spewing drama about Coeur d’Alene on it’s last legs - that Coeur d’Alene real estate values are going to plunge 10% - 20% - 30%. Gong - you’re wrong. They ignore reality.

Here’s a case in point. When Coldwater Creek laid off 60 some employees a few months ago (outside of their normal past-Christmas lay off of customer service reps), people started panicking. I heard it on blogs, in person, in the news, etc. No one wanted to hear that it might be a restructuring of a department or area, that it might have been an excuse to get rid of inefficient employees, etc. The extremists made sure that the world knew that it was the beginning of the end - for potentially Coldwater Creek AND Coeur d’Alene.
Now Coldwater Creek is expanding their facilities.

Despite recent layoffs and a downturn in its sales, Coldwater Creek Inc. is proceeding with an expansion project that includes a $9 million, four-floor office building and a $2 million addition to its call center in northwest Coeur d’Alene.

Coldwater Creek, the Sandpoint-based women’s clothing retailer, says the new Coeur d’Alene structure will house the company’s growing information-technology operations.

Lydig also is constructing a 14,000-square-foot addition onto the east side of that center, Singer says. He says the addition will include an employee fitness center, an expanded kitchen and dining area, and additional loading-dock and storage capacity.

Coldwater Creek laid off 65 employees at several of its facilities earlier this month due to lagging sales, but said the action was intended to “position us for sustainable growth,” and the company remains committed to continuing its operations in the Sandpoint and Coeur d’Alene areas.

Article here.

Posted under Economics of North Idaho