How do I control the position of the anchor point?

I’m having the problem of the sphere I created having it’s anchor point in all the wrong place. How can I change it’s position so I can move the sphere(or any other model at that matter) accordingly?

In Object mode (not edit mode), select the object. In the Editing context (F9) in the Mesh pane are a set of buttons. The Center New button will place the anchor in the middle of the vertices of the object. Center Cursor will place the object’s center at the current position of the 3D cursor (so place the 3D cursor in the desired location first).

Ah, I forgot. The 3D cursor can be precisely positioned by clicking on the View menu in the window menus, select View Properties, and in the little dialog that pops up type in the desired x, y, and z coords for the 3D cursor.