The Mall at Pabst Farms

Will the Mall Come to Pabst Farms?

Recently in the local paper here in Oconomowoc an article mentioned that the mall at Pabst Farms may be in question. I would like to weigh in on this topic. Just because I am a Realtor does not mean that I am always for growth, in fact I like to think that I am in favor of "Good Growth". Good growth is development that makes sense and is not development for the sake of development.

Pabst Farms originally indicated to the community that the mall would be a regional pull. I think most everyone knows what a "regional pull" entails. This would be stores that will pull shoppers from the region to Oconomowoc. I know that is a little sarcastic, but let's be serious--Kohl's is not a regional pull store. I like Kohls and I know my wife shops there quite a bit. I have nothing against Kohl's, but let's face it, the folks from Mequon are not going to hop in their cars and drive 60 minutes to go to Kohl's when they can visit one in their own backyard. However if Nordstroms were located in Oconomowoc you can safely bet that they will make the 60 minute drive to Oconomowoc.

If the city allows the mall that features tenants that the local market will use and enjoy, then I think the hope that so many retailers have put in the mall, and its efforts to revitalize downtown Oconomowoc, will not materialize. If Oconomowoc is going to be on the map for a destination city for retailing then we must hold out for a mall that will have a larger draw than the city itself. We have lived with driving to Delafield for Kohl's and other stores and we can certainly live a little longer with this fact. But if we settle for second best now, the ability to attract stores that will draw from the region, in my opinion will be limited. Pabst only has so much land to develop, let's do it right from the get go and not settle for second best.

So to all the folks at Pabst and the City, for the sake of our community let's push for the best mall development that has been promised to our area.

Just Minutes From Oconomowoc

I try to keep most of these entries about the local happenings around Oconomowoc, but I have to make this exception. My wife and I were spending some time in downtown Milwaukee last week and it was close to lunch time. I had been to Soup Bros before and thought that I would treat her to a different experience. Located on Florida Street just a block west of Water in the Historic Third Ward, Soup Bros is a real treat. As a Seinfeld aficionado, I love quirky places like this. The proprietor is not like the Soup Nazi, in fact he is a real nice guy, but can he make soup! For a little over $6 you get the best soup of your life and a large piece of freshly baked bread to dip into your little bowl of heaven. The establishment probably sits only 12 people ( I'm not exaggerating either) and if you get there when there is a crowd you will most likely be waiting outside, in line, for one of the days delights--BUT it's worth it. So if you want a little adventure head to Milwaukee for a bowl of soup that you will not forget anytime soon.

Silver Lake Intermediate School

A few weeks ago a friend of mine, who is working towards his commercial pilots license, asked if I would like to go flying with him. Without hesitation I said YES! On a calm August evening we took off and I literally hung my head out the window as I feverishly snapped pictures of my favorite city-Oconomowoc. One of the first places I wanted to see was the new middle school just north of Silver Lake. This stylish and exceptional building looks great from the ground, but from the air you really sense how large the building is. What a beautiful site too! If you were in town this past weekend you may have stopped by the open houses for both intermediate schools. Oconomowoc has made such amazing progress with respect to our schools. The old middle school, which was severely outdated and in need of tons of repair is now replaced by two intermediate schools. Nature Hill Intermediate School is located off of Z and Lapham Road on the north side of town. If you have a chance stop by and check out the new digs!

Is Real Estate a Good Investment?

Real Estate is still a great investment. In fact this year, with all the ups and downs in the financial markets, will probably be remembered as the best year to buy housing in the State of Wisconsin for quite some time. In fact if you can obtain financing for investment purposes now would be the time to act. However if you are thinking about flipping the house and making a bundle of money overnight --forget that notion. Part of the problem from years past, that we are now feeling the pains of, is that insatiable desire to make big bucks overnight. Real Estate was never meant to be a get-rich-quick scheme. Rather it should be a part of a well thought out portfolio.

Another reason why this is a good time is because the supply of good renters is increasing. Think about all those folks who have lost their homes due to the re-setting of adjustable notes. They need a place to live. Some are probably not credit worthy, but my guess is that you will be able to find several who are.

At some point the Fed is going to have to raise interest rates, so if you are buying your next home for yourself or as an investment now is the time. Rates have been artificially low for quite some time and as soon as we string together a quarter or two of good solid economic news you can bet that the Fed chairman will be raising the interest rates.

If you watch the stock market at all it was not too long ago that gold was near the $400 dollar mark. Folks are now saying, "I wish I would have bought more gold!" Well in a year or so people will be saying that about Real Estate as well.

Now is the time to act. Remember when you are watching TV that the national news is just a snapshot of the national market. Wisconsin, Southeastern Wisconsin is in a entirely different financial state. Don't make the mistake of making a decision on whether to buy or not buy based on a national snapshot.

Carpe Diem--Seize the Day!