By Julie Hein, General Manager
Well, another mention by the national media about how cool we are around here. Yeah, we know it's a great place to live. This time it's the Wall Street Journal. I'd link you to the article, but it's only for their subscribers. The title is "Need a Loan? Where Do You Live?" if you are a subscriber and want to find it. Or the Cedar Rapids Metro Economic Alliance has it too.
I'll give you the Cliff Notes version here. In Cedar Rapids, the 177th largest metropolitan area in the U.S., banks make 11% more consumer loans in 2011 than they did in 2006. Q4 alone was 52% hirgher than the same period in 2006.
We didn't have a huge housing bubble to drop from. We don't have a lot of fluctuation in any of our markets--housing, employment, whatever. Auto loans and mortgages are up 38% and 18% respectively, the largest increases in the country. Low interest rates even with below average credit scores--also a bunch of those around here. 2.9% interest on car loans? We got that. Mortgages without closing costs or origination fees? Those too! Our deliquency rates are low.
Quoting Eliot Keller, "Yay. I love us." We love the Corridor!
9.27.2012
Boo!
Hard to believe that Halloween is truly right around the next scary corner! I just decorated my home for Halloween over this past weekend. According to CNBC and the National Retail Federation’s Halloween survey, a record 170 million of us will celebrate Halloween this year. I have heard that Halloween is becoming one of the most celebrated of our annual holidays…right behind Christmas (of course). It gives grown adults a reason to let loose and have a good time. Spending is to be around the $8 Billion (yes, that is a B) mark which shows a growth of over 16% over 2011. The average person will spend $79.00 on décor, costumes and candy. I just bought a small bag of candy corn and it is a hard candy to resist. The bag is nearly gone! Costumes continue to be the biggest spend and retailers say that they become more elaborate and require more accessories each year. Social media is playing a bigger role in how people select their costumes. Friends ask friends for inspiration or go to consumer sights like Pinterest for ideas. While families with children make up a big chunk of the total spending, adults continue to be more active with their dollars around Halloween. Don’t forget about the pets. People continue to love on their pets and dress them up. So what are your plans? How will you celebrate on Wednesday,
October 31st? Be sure to turn to Z102.9 to hear all of the fun and spooky things that we will be doing this year. BOO!
9.18.2012
Home Improvements Anyone?
I have been wanting to paint my front door red for about a year. Finally got it done (4 coats of paint I might add), and it looks great. I also added some black and white tile to it and a customized saying (yet to be done). It took a while to noodle around in my head before it became reality but the end result is awesome! How about you? Got any home improvement projects on your “to do” list before the cold weather hits Iowa? According to Harvard University’s Leading Indicator of Remodeling Activity; spending is expected to rise 12.2% by early 2013. Here are some staggering numbers to wrap your mind around. Complete home remodel: $192,724, new kitchen: $24,766, swimming pool: $34,190, bathroom remodel: $10,723 and new roof: $9,454. The average cost of a custom-built home is $576,460.00 so a bit remodeling here and there seems a lot more affordable. (These costs come from Remodeling Magazine).
What would you like to have new in your home? I see my home as a sanctuary and I want to happy in it when I slow down long enough to actually be home to enjoy it! So spruce up the front porch with pumpkins and corn stalks. Fall begins this Saturday, and it is never too soon to think about the holidays and what needs done before the relatives head over to your house. Enjoy the change of our seasons!
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