Category Archives: Real estate

A third Jimmy John’s … I think

My plan was to craft a story for Saturday outlining the timeline for a third Jimmy John’s at 517 N. Hillside, near Wesley Medical Center.

However, after being stonewalled in Chicago, all I can tell you is that I THINK Bushwood Investments plans to open the third version of its popular sub shop. My colleague Denise Neil, knower of all things restaurant, tells me an April open date is what’s being bandied about.

Why so vague? A call to Bushwood’s corporate office Friday afternoon for details elicited a terse “We don’t give out that information,” followed by an admonition to submit all questions in writing.

I guess free publicity isn’t everything it’s cracked up to be.

A quick look at median home prices

The National Association of Realtors has devised this interesting tool to reveal median home prices in a given metropolitan statistical area.

It’s updated monthly, so check in regularly to measure Wichita’s progress in this measuring stick against our nearby competitors.

Looking for a safe investment? Drink beer

The Web site Investment Pirate says beer might be better for your bottom line than many stocks you could have purchased in the past year.

For example, it says if you had purchased $1,000 of Delta Air Lines stock a year ago, you would have $49 left. And if you took the same $1,000 and bought beer, drank it and turned the aluminum cans in for a recycling refund? You would have $214 in cash.

Anyone else out there have any fun investment advice?

Report: Speculators drove up oil prices

Here’s a shock: A public/private report fingers speculators as the culprit for the run-up in oil prices.

Interestingly, oil’s only up about 75 cents a barrel as of this writing in the wake of OPEC’s 500,000-barrel production cut. And that’s even with Hurricane Ike bearing down on the oil production region of the Gulf.

Interesting, isn’t it?

No new Big Dog plant anytime soon

Back in 2005, Sheldon Coleman bought 106 acres at the K-96 and Greenwich Road interchange as a site for a future Big Dog Motorcycles plant if the company’s dramatic growth continued. Of course, that turned out to be Big Dog’s high point and the company has shrunk considerably since then.

On Friday, Coleman confirmed that he no longer plans to put a Big Dog factory out there, but was coy about what he would do with the land: “I’m pursuing other options.”

As to Big Dog, the company now has more capacity at its E. Douglas plant as its production slows. He said they continue to make it more efficient as well. I’m guessing it will be a long time before Big Dog leaves that location.

More on Todd Fox

A friendly reader who goes by “Fox Buster” forwards along this auto repair industry update on the status of Todd Fox, who closed his 18 Fox Collision repair shops almost a year ago.

In an update from the courthouse, Wichita attorney Ed Nazar remains on case for the time being, and the sale of the final Fox Wichita building on East Kellogg has closed.

A real estate icon passes away

You immediately knew Jack Hunt was someone special, even if you’d never met him.

I first saw him a couple of years ago when he walked into a local real estate meeting, frail and with the aid of a cane. Immediately, a literal who’s who of Wichita commercial agents flocked to him like moths to a flame.

Hunt, 86, who died Tuesday, was known for a lot of qualities, but none more so than his resourcefulness, as recounted by his friend, fellow commercial Realtor Rod Stewart.

Hunt, Stewart and their friends took a two-RV vacation 32 years ago to Santa Fe, N.M.

The men were in one RV, the wives in another, when a group of machete-wielding locals decided they were going to invade the womens’ RV.

One of the locals raised his machete, Stewart said, and knocked on the door, only to be confronted by the smallish Hunt, carrying a 9mm handgun.

“Don’t make me ruin my vacation,” Hunt warned the intruders.

The door-knocker complied, throwing his machete on the ground and telling Hunt, “Please don’t shoot me, crazy grandpa.” Hunt kept the machete, Stewart said, had it bronzed and displayed it above the bar of his Wichita home.

That, Stewart said, was Jack Hunt in a nutshell. Read more about Hunt, his career and his influence on Wichita commercial real estate in Friday’s Eagle.

Credit crunch claims commercial prices

May wasn’t a particularly good month for commercial real estate prices, which fell according to this article from LoopNet News.

Interestingly, the commercial market continues to prosper in Wichita. Most agents are reporting a shortage of Class A commercial space, which limits the region’s ability to attract top-flight manufacturers and help local companies grow. Look for growth in speculative Class A building in Wichita over the second half of the year.

A little venting on mortgage brokers

My first inclination was to fold this one into the previous blog item, but it’s too interesting to bury.

Real Trends reports that a real estate agent named Lisa LaShawn is a little annoyed with mortgage brokers and their role in the sub-prime crisis, so much so that she’s founded this Web site with a less-than-subtle name and an even less subtle message.

I wonder if anyone’s purchased the domain name “ihateoilspeculators.com?”

Keller Williams goes commercial; Is the housing market stabilizing?

The number of big residential real estate brokers delving into the commercial side grew a little over the weekend with the Keller Williams announcement.

And there’s an interesting contradiction on the future of the housing market, courtesy of Real Trends, the Colorado-based analyst: Home builder confidence has sunk to 16 on a 100 scale, according to the National Association of Home Builders, with a housing stimulus package needed from Congress to stem the tide.

However, a survey by the Leading Real Estate Companies of the World shows that 59 percent of its brokers are seeing increased activity in their markets.

The history of Fannie Mae and Freddie Mac

Here’s a great history on the mortgage mess, courtesy of the Wall Street Journal, after the formal announcement of the Bush administration’s bailout plan for Fannie Mae and Freddie Mac.

Excellent, in-depth reading that I highly recommend.

Plus, the stock market is falling in the wake of Henry Paulson’s bailout plan.

A great housing bubble blog

Ben Smith’s blog on the housing bubble, based in Arizona, is one of the most informative sites for reading on the regionalized state of the housing market.

Meanwhile, on the homefront lurks a question: When do you think the national economy will moderate enough to restore some homebuyer confidence and get both buyers and sellers back into the local market? And what will have to occur before the economy moderates?