Tom Cofer

Personal Income- December 2011

2012-02-04T02:05:00Z

Personal income in December 2011 rose 0.5 percent. Nominal personal consumption expenditures (PCE) was unchanged and real PCE declined 0.1 percent. Nominal disposable personal income (DPI) rose 0.4 percent and real DPI increased 0.3 percent. The personal saving rate as a percentage of DPI was 4.0 percent in December.

Inofmation supplied by the Economical and Statistical Adm.

South Shore Railroad

2012-01-28T23:36:00Z

Passenger rates to go up 5%, effective Feb 15th. The increase will generate an additional $800,000 per year. Well, the income is on the freight side anyhow. NIPSCo needs to continue the coal shipments.

Gross Domestic Product- 4th Qtr. 2011

2012-01-28T23:28:00Z

Real gross domestic product (GDP) grew at an annual rate of 2.8 percent in the fourth quarter of 2011, according to today’s advance estimate. This follows a growth rate of 1.8 percent in the third quarter of 2011. Real GDP increased 1.7 percent from 2010 to 2011 overall.

Data supplied by the Economic and Statistical Adm.

Single Story For Sale in Michigan Township

2012-01-27T18:54:00Z

• 1,260 sq. ft., 1 bath, 3 bdrm single story - MLS® $18,500

Michigan Township, Michigan City - A spacious 3 bedroom, 1 bath home with attached one car garage. A large loft bedroom features a walk-in closet. Garage has a large storage area with mud room. The kitchen features a large walk-in pantry extended counter area and a variety of cabinet space. This is a short sale property.

Property information

Indiana Economy

2012-01-24T13:55:00Z

IU's Leading Index shows Indiana economy on path to growth in 2012

Bill Strother, Herald-Times

Indiana is solidly on its way to economic recovery, according to Indiana University’s Leading Index for Indiana.

The monthly index was released Monday by the Indiana Business Research Center at the Kelley School of Business. It shows an increase of 0.4 percent to 97.5 from November to December, climbing to its highest level since September of 2008.

Home sales in Northwest Indiana- 2011

2012-01-22T23:58:00Z

Northwest Indiana home sales level out in 2011

By the numbers

Sales of existing single-family homes increased in December in Lake County and declined in Porter County.

Lake County existing single-family homes sold

December 2011: 321

December 2010: 269

Porter County existing single-family homes sold

December 2011: 121

December 2010: 135

Source: Greater Northwest Indiana Association of Realtors

Keith Benman, Times of Northwest Indiana

Years of housing crisis-driven declines in home sales finally halted in 2011, with region Realtors selling slightly more homes than the previous year, according to year-end sales numbers from the Greater Northwest Indiana Association of Realtors.

Realtors in the five counties covered by the association sold 6,881 homes in 2011 as compared with 6,873 in 2010, an increase of just 0.1 percent. Although the increase is scant, it is being cautiously welcomed by Realtors, who had seen home sales decrease every year since 2007.

"I do think the economy, though it is still weak in general, has seen noticeable improvement, and consumers are noticing," said Peter Novak, CEO of the Greater Northwest Indiana Association of Realtors. "People are starting to take that plunge."

Home sales received a big boost in early 2010 as buyers sought to close deals to get in on expiring federal tax credits. When those ended, sales again began extending the decline that began in 2007. Through the first half of 2011, sales fell another 14.3 percent. But in July, sales were up 25 percent and they rose every month after that.

"We had about a year period where it was just ugly," Novak said.

Nationally, home sales ended the year on a rising note, with sales of existing homes of all types up 3.6 percent in December as compared with one year ago, according to the National Association of Realtors.

For all of 2011, U.S. existing home sales were up 1.7 percent with 4.26 million homes sold.

"The pattern of home sales in recent months demonstrates a market in recovery," said Lawrence Yun, National Association of Realtors chief economist. "Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market."

Interest rates on conventional, fixed 30-year home loans fell to an average of 3.96 in December, their lowest on record, according to Freddie Mac.

The housing market still has a long way to go to crawl its way back to normalcy. The number of homes sold in Northwest Indiana in 2011 is 39.4 percent less than the 11,349 sold in 2006 at the peak of the housing boom, according to Greater Northwest Indiana Association of Realtors data.

In December, 561 existing single-family homes were sold in Northwest Indiana, as compared with 518 in December 2010, for an 8.3 percent increase. The Greater Northwest Indiana Association of Realtors covers sales in Lake, Porter, LaPorte, Jasper and Newton counties.

In Lake County, existing single-family home sales in December increased 19.3 percent. Lake County also had a healthy boost in selling prices, with the median selling price increasing 11 percent to $119,900.

In Porter County, existing single-family home sales were down 10.4 percent. But the median selling price was up 2.3 percent to $148,400.

Information taken from the Northwest Times

New Residential Construction- December 2011

2012-01-22T23:52:00Z

Building permits in December 2011 were 679,000, down 0.1 percent from November but up 7.8 percent from December 2010. During the full year of 2011, permits rose 1.2 percent over 2010. Housing starts in December 2011 were 657,000, down 4.1 percent from November but up 24.9 percent from December 2010. During the full year of 2011, starts increased 3.4 percent over 2010.

Information supplied by the Economic and Statistical Adlministration

Right to Work in Indiana

2012-01-17T20:07:00Z

At best and worst, the right to work issue, either way, may have no effect on Indiana's economy. We have the ability and established laws to attract economic growth and a talented work force. The Republicans need to focus on what's important!

My opinion...................................

Indiana Farm Land Prices

2012-01-16T14:09:00Z

Vacant farm ground prices have risen 133% over the last 10 years.

A once-in-a-generation combination of strong grain prices, high farm incomes and unprecedented interest in commodities investments has caused prices for agricultural acreage to skyrocket. Purdue University’s 2011 farmland value survey found an acre of top-quality Hoosier farmland would set you back $6,521—an increase of 25 percent over the previous year.

Information taken from the Indianapolis Star

Imports and Exports

2012-01-14T20:23:00Z

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total November exports of $177.8 billion and imports of $225.6 billion resulted in a goods and services deficit of $47.8 billion, up from $43.3 billion in October, revised.

Info supplied by the U.S. Bureau of Economic Analysis

1 1/2 Story For Sale in Trail Creek

2011-12-29T19:17:00Z

Includes Office Space and Residence

• 1,388 sq. ft., 1 bath, 3 bdrm 1 1/2 story - MLS® $96,000

Trail Creek, LaPorte County - This property has a residence as well as a light commercial space. The residence has original woodwork and knotty pine. Large screened porch. Full basement with plenty of storage. Commercial space has been re-modeled and has 960 sq. of floor space/ with 1/2 bath.

Property information

Personal Income- November 2011

2011-12-24T14:30:00Z

Personal income rose 0.1% in November.

Data supplied by the Economic and Statistical Adm.

Porter County to get 2 Solar Facilities

2011-12-24T14:20:00Z

Porter County will look at two solar facilities

Amy Lavalley, Post-Tribune Correspondent

VALPARAISO — The Porter County Board of Zoning Appeals has put approval of solar generating facilities in Portage and Union townships on hold until its Feb. 1 meeting, pending more information about the projects.

The action came at the board’s Wednesday meeting; county planner Raymond Joseph said the projects are a first for the county.

The Union Township facility is proposed for 495 W. County Road 450N and the one in Portage Township would be located at the southwest corner of Robbins Road and North County Road 450W.

Both locations, at 11 acres, would feature photovoltaic solar modules mounted to an aluminum and steel racking system, with a proposed height of 9 to 10 feet.

The facilities, operated by parent company Ecos Energy of Minnesota, would sell solar-generated electricity back to Northern Indiana Public Service Co., Joseph said.

Members of the board wanted to see landscaping plans; renderings of the facilities, with their sizes and dimensions; and examples of existing solar generating facilities, so they can visit them.

The facilities also need a variance for the fence that will surround them. The operators want 8-foot fences with an additional foot of barbed wire, while the standard for fencing is a maximum of 4 feet, Joseph said.

Indiana Jobs- November

2011-12-24T14:17:00Z

The latest U.S. Bureau of Labor Statistics state report showed Indiana has added just 2,000 jobs through November of this year.

Reported by the News and Tribune

Gross Domestic Product- Third Quarter 2011

2011-12-22T19:22:00Z

Real gross domestic product (GDP) grew at an annual rate of 1.8 percent in the third quarter of 2011, according to today’s third estimate. This follows a growth rate of 1.3 percent in the second quarter of 2011.

Data supplied by the Economical and Statistical Adm.