Texas Housing Market Steady. Cap Rates for Retail rises. Amazon Mulling Expansion of Cashless Go Stores

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Sept 2018 Vol 20109 -01

Fall Maintenance List

Clean Gutters

Fall is a good time to clean your gutter after the leaves have fallen from the tree especially if you live in a snow zone

With heating on and Furnaces running its a good time to check and replace your smoke detector battries

Sprinkler setting

You Lawn may still need water in fall it may not need as much as peak summer. Please check and adjust your sprinkler setting. Dont forget to winterize your sprinkler systems

Winter proof your windows and doors

If you live in cold temperatures make sure to caulk your windows and check the weather strip at door to save on heating cost

Grills and Drain hoses

Clean Cover and winterize your grills and out away the drain hoses

HVAC

Change filter to your HVAC and add some bleach to the drains to clean up any Algea Build up

Fireplace and Chimney

Make sure to get your chimney cleaned if you use it. Stock up on firewood if you use a wood buring fire place. Clean up Gas value for any dirt and debris to get it ready for winter for gas fire places

Existing home sales are steady

According to National Association of Realtors, Existing homes sales are steady. Sales remained unchanged from July at a seasonally adjusted rate of 5.34 million sales. That’s down 1.5 percent from a year ago.

The median existing-home price for all housing types was $264,800 last month, up 4.6 percent from August 2017. This marks the 78th straight month of year-over-year gains. Total housing inventory also remained unchanged from July at 1.92 million existing homes up for sale. In August 2017, there were 1.87 million homes for sale.

First-time home buyers accounted for 31 percent of sales in August. ​

Cap Rates for Commercial properties remains steady and increases for retail sector

According to cpexecutive.com – Cap rates for the first quarter were between 5.1 and 6.8 percent, with Suburban Office and Retail posting the highest rates. Mid- and High-rise Apartments traded at the lowest cap rates (5.1 percent), followed by CBD Office at 5.1 percent. Garden Apartment cap rates increased by more than 11 basis points in the first quarter of the year, while CBD Office decreased by 18.1 basis points and Suburban Office fell by 11.7. Year-over-year, Retail assets commanded the highest growth for commercial properties (11.8 basis points).

Increase in Hospitality sector investment due to tax reforms

According to San Antonio Express-News – Blackstone has purchased The JW Marriott San Antonio Hill Country Resort & Spa.

The 1,002-room resort and the adjacent TPC San Antonio golf course at 23808 Resort Pkwy. opened in 2010 and cost over $600 million to build.

It includes two golf courses, spa, nine-acre water park, high-end restaurants, and nearly 270,000 sf of convention space.

In 2016, the hotel finished a $16 million expansion to its waterpark and meeting and event space. It finished an additional $500,000 worth of renovations in early 2018.

Texas Economy Going Strong

AUSTIN (Texas Workforce Commission) – The Texas economy added 32,000 seasonally adjusted nonfarm jobs in August, marking 26 consecutive months of employment growth.

According to data from the Texas Workforce Commission, the state’s seasonally adjusted unemployment rate was 3.9 percent, down from 4 percent in July.

Over the year, the state added 394,500 jobs for an annual employment growth rate of 3.2 percent.

Microsoft plans to develop three data centers in San Antonio to enhance cloud offering

According to San Antonio Business Journal – Microsoft Corp. plans to build three data centers for $62 million, according to Texas Department of Licensing and Regulation. The new development appears to be on the far edge of the Texas Research Park at 15000 Lambda Dr. Each single-story data center will span about 225,000 sf and include a 14,000-sf office portion.

Work is slated to begin in October and wrap up by August 2019.​​

Amazon Expanding its line of cashless stores

Founder and CEO Jeff Bezos is mulling the expansion of the cashierless Amazon Go concept by as many as 3,000 stores in the next three years, Bloomberg reports. The tentative plan for expansion would be reaching 10 Amazon Go stores by the end of this year, 50 by the end of 2019 and 3,000 by the end of 2021, which would give it a number of locations competitive with many national convenience store chains. ..Read more

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