Real Estate Blog
Tuesday, November 25 2008
Austin Business Journal highlighted the rise in stock prices of Austin businesses After Monday's announcement of the $20 Billion bail out for Citigroup. In our very own backyard the following companies saw a jump in numbers:
This trend was shared with others on the market. The Dow gained an average of 300 points after the announcement!
Friday, November 21 2008
Scents of pumpkin pie and cinnamon sticks signify people gearing up for the holiday season- the gift giving season. So portable, so flexible: gift cards are available for almost all retailers, from you favorite designer clothing store to your local hardware warehouse! This season, please be use caution before buying gift cards from stores that may be offering awesome end of the year sales only to close in the beginning of 2009.
With the economic woes squeezing the retail sales numbers tighter, many retailers have announced store closures or even company shut downs. *The following companies may not be at the usual location you are used to seeing them at:
Circuit City (filed Chapter 11)
Ann Taylor 117 stores nationwide closing
Lane Bryant, Fashion Bug, and Catherine's to close 150 stores nationwide
Eddie Bauer to close 27 stores and more after January
Cache will close all stores
Talbots closing down specialty stores
J Jill closing all stores (owned by Talbots),
Pacific Sunwear closing 154 demo stores and CA distribution center(also owned by Talbots)
Gap closing 85 stores
Footlocker closing 140 stores, more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January
Home Depot closing 15 stores
Macy's to close 9 stores after January
Linens and Things closing all stores
Movie Gallery closing all stores
Pep Boys closing 33 stores
JC Penny closing a number of stores after January
Wilsons Leather closing down all stores
Sharper Image closing down all stores
KB Toys closing 365 stores
Lowes to close some stores
Dillard's to close some stores
Please verify with other stores that may not be on this list.
Malls of America will have a new look, just don't let it be at your expense!
How do you feel regarding these closures? We'd love to get some feedback!
*Joa Realty recommends doing the research concerning these retailers and the plans of the stores in your neighborhood. Joa Realty is not responsible for the accuracy of the status of these companies. Companies may change their plans, and they may not reflect the statements of this article.
Monday, November 17 2008
Everything is big in
Based out of
The simplicity and resourcefulness of the homes are impressive. They are easily modifiable, they have customizable kitchens/bathrooms, they reuse durable old wood that is resistant to termites, and they are energy efficient.
In a slower economy and a time when “green” is the hot button issue, an idea like Tiny Texas Houses may be the beginning of a new housing revolution. Keep your eye on Kittel!
Thursday, November 13 2008
Austin Board of Realtors reported Oct 2008 Austin Regional Market Updates. The closed sales in Oct 2008 compared to one year ago was down in the following:
North Central: -24.1%
North West: -23%
South East: -32.3%
South West: -12.6%
West/West Lake: -26.2%
Cedar Park/Leander: -12.1%
Email at Susie@JoaRealty.com for any questions.
Wednesday, November 12 2008
Austin Board of Realtors reported for Oct 2008 Real Estate Market Indicators.
In September 2008, there were 1717 pending sales, but in the month of October, only 1,188 transactions closed. That is about 500 transactions that are still pending or failed to close. Even in this buyers' market, economic uncertainties may sabotage a real estate transaction. Overall, Austin Real Estate Market is still stronger compared to the national real estate market. For more info, see the original October 2008 Austin Market Indicator report and send email to Susie at Susie@JoaRealty.com for any questions.
Monday, November 10 2008
The Austin City Council has voted and the decision reached was one that includes the compromises of groups such as the Austin Board of Realtors and Keep Austin Affordable. As part of the city’s ongoing Climate Protection Plan, home sellers will be required to get their home audited by Austin Energy to assess the energy use and efficiency of their home.
This is a departure from the original intentions to have the improvements suggested from the point-of-sale audits be a mandatory fixes. There were many outcries regarding the effects of such a mandate, especially on the prolonging of the sales process due to the limited amount of inspectors and the potential to increase the sales price by more than what the market would be able to absorb.
On 01 June 2009 the energy efficiency audits will be mandatory. By 2015 the city hopes to have all the Austin homes to be zero net energy capable.