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Published: Thursday, March 08, 2018 @ 2:56 PM
— A funeral home company has bought the Schlientz & Moore Funeral home property, with nearly seven acres of land, just off Ohio 725 (Miamisburg-Centerville Road) in Washington Twp.
Warren Family Funeral Homes Inc. paid $1.15 million for the land at 820 Miamisburg-Centerville Road, just west of Paragon Road, Montgomery County property records show. The buyer does business in the Dayton area as Newcomer Funeral Homes.
The seller is identified as Schlientz-Moore Brothers Inc.
The sale was recorded Monday.
In the Dayton area, Newcomer has locations in Beavercreek, Dayton and Kettering.
Besides the Ohio 725 location, Schlientz-Moore has a funeral home at 1632 Wayne Ave. in Dayton.
Published: Wednesday, March 21, 2018 @ 2:27 PM
The housing market in the Dayton area continued to improve in February, with increases in the median sale price and number of homes sold.
The median price for last month was up over 2 percent year-over-year to $129,900, and the sales volume climbed 11 percent since last year to $135.7 million, according to data from the Dayton Area Board of Realtors, which represents Montgomery, Greene, Warren, Darke, and Preble counties.
The number of existing homes that sold was also up 3 percent compared to February 2017, with 882 sales reported on the multiple listing service.
U.S. home sales also improved in February.
The National Association of Realtors said Wednesday that sales rose 3 percent last month to a seasonally adjusted annual rate of 5.54 million. The median home sales price was $241,700 in February, a 5.9 percent increase over the past year.
But a shortage of properties for sale is creating a challenge for would-be homebuyers. As sales listings have steadily declined, prices have been climbing at the same time as a stronger job market has elevated demand — and, also, competition — for purchasing homes. Higher mortgage rates this year might also cause even fewer people to list their homes for sale, which would make the current supply squeeze worse.
In the Dayton area, February’s average sales price totaled $153,923, up 8 percent since the same time last year.
Year-to-date sales the January-February the median price increased 6 percent to $126,450, and the cumulative sales volume was up by 7.7 percent to $259.3 million.
As demand for homes grew, supply in the Dayton tightened. The number of listings submitted in the month of February decreased over 2 percent to 1,448 entries. For the January-February period, 2,705 listings were entered, down nearly 5 percent from last year’s 2,839 listings.
While the overall home market continues to heat up, there are also disparities.
The Dayton Daily News previously reported the Dayton area is one of 61 metros in the U.S. where minorities are denied mortgage loans at higher rates than their white counterparts — a modern-day system of redlining that keeps minority neighborhoods from recovery.
In 2016, black applicants in the Dayton metro area were 2.1 times as likely to be denied a conventional home mortgage as white applicants, even when controlling for applicants’ income, loan amount and neighborhood, according to data analysis by Reveal, the online platform of The Center for Investigative Reporting.
The Associated Press contributed to this story.
Published: Wednesday, March 21, 2018 @ 1:28 PM
WRIGHT-PATTERSON AIR FORCE BASE — The Public Utilities Commission of Ohio has given the go-ahead to Vectren Energy Delivery for a $13.7 million, 50-year deal to take over natural gas delivery at Wright-Patterson from the Air Force.
The contract is the latest Wright-Patterson move to privatize utilities at the sprawling base that spans more than 8,000 acres.
The ownership transition of the natural gas infrastructure will take nine months, according to base spokesman Daryl Mayer. The utility will assess the condition of the infrastructure during the transition, said company spokeswoman Natalie Hedde. Vectren was one of two bidders.
Indianapolis-based Vectren provides energy delivery to about a million customers in southwest Ohio and two-thirds of Indiana, including one other federal installation, the Naval Surface Warfare Center’s Crane Division.
In recent months, Wright-Patterson reached a $490 million, 50-year contract with New Jersey-based American Water Operations and Maintenance, Inc., to privatize water services.
Several years ago, Dayton Power & Light Co. entered into a 50-year deal to take over electrical infrastructure at the base. The utility provides electricity under a separate contract. Constellation Energy provides natural gas, according to Mayer.
Published: Saturday, February 17, 2018 @ 3:23 PM
— Winn-Dixie owner Bi-Lo is preparing for bankruptcy, according to a Bloomberg report.
Up to 200 stores could close as part of a bankruptcy filing, Bloomberg reported. According to Winn-Dixie's website, the retailer has locations in Florida, Georgia, Alabama, Louisiana and Mississippi.
The bankruptcy filing could come as early as next month, Bloomberg reported.
Bi-Lo has not publicly confirmed any bankruptcy plans.
Published: Monday, March 05, 2018 @ 2:19 PM
— In 2006, Best Buy began opening small “Best Buy Mobile” stores across the country, typically in shopping malls. A year later, the iPhone made its debut.
But now the Richfield, Minnesota-based retailer is closing all 257 of its remaining mobile stores. A memo was sent to employees Feb. 28, and the company notified the federal Securities and Exchange Commission.
The company will close all of the mobile stores by May 31.
The company’s CEO Hubert Joly said on an earnings call that the stores were closing due to “changing economics in the mobile industry,” Dayton Daily News reported.
“Back then the mobile phone business was in a period of rapid growth and margins were high,” Joly said, according to the Dayton Daily News. “Fast forward to 2018 and the mobile phone business has matured, margins have compressed and the cost of operations in our stand-alone stores is higher than our big-box stores.”
All of the company’s “Best Buy Mobile” stores are in shopping malls and measure about 1,400 square feet. A regular Best Buy store covers about 40,000 square feet.