Thursday, February 14, 2008

Fallout from the housing bust

I haven't seen so many going out of business signs in some little time. But there's a focus: furniture, home accessories -- those goodies that people treat themselves to when they've just bought a new house. Let's start at the small plaza out Iron Springs Road, where Marler's, a 62-year local fixture, has called it quits. Problem: the down housing market with a big plus -- the down traffic, thanks to road widening that has taking forever and a day. The firm will continue to operate its other store over in the Verde Valley, says the Courier.

However, Marler's isn't the only store in that plaza to go under. Moe Tavassoli Oriental Rugs is also closing shop. Curious -- I checked for spelling in the Yellow Pages and the only address given was in Scottsdale.

Big sale signs are also posted over on Montezuma for Prescott Home Furnishings, a successor to Seitz office products which succumbed to competition from Staples...

...just as this new Big Box chain store has added to the woes of our local merchants. I wonder how well it's doing these days -- apparently furniture store sales were off over 8% nationwide in 2007 and this year looks to be far worse. What will happen to those vacated premises? Rumor says that 1) the Oak Tree will grow once more, this time on Montezuma and that 2) Goodwill Industries will plant a big thrift shop over on Iron Springs, a suitable replacement in the current not-quite-a-recession economy.


Anonymous said...

During my visit to see family last weekend, we went to two of those closing furniture stores. And, we noticed that N'Awlin's restaurant on Montezuma has closed. A waiter at a nearby eatery told us why. But, Celtic Crossings at the Gateway Mall is doing fantastic business. Last Sat. night, they had people standing, waiting to be seated. Great live Irish band, fantastic food! Guess Irish pubs always do well, in good times and in recessions. LOL ~Anon in AV

Anonymous said...

The housing fiasco is impacting on lots of things. It will take some time for a recovery

Anonymous said...

I wonder if Moe's GOB signs are dinkum--here, purveyors of oriental rugs seem to have permenant GOB signs.\


TomboCheck said...

Another sign that things really are worse than we would like to believe. :)

I did hear through the grapevine though that Oak Creek would be taking over the 'Prescott Home Furnishings' store location.

Should be interesting to see how long this downhill lasts. ;)

Granny J said...

anon-av -- when the kids & I ate at the Prescott Thai place the other night, it was quite busy, tho only a couple of people in line...

steve -- if we're lucky here, things won't pick up until we have a really good new source of city water, which is Very Unlikely. The developers will be back first, I fear.

bro -- dunno -- I'll have to keep an eye out on that. On the other hand, those blazing signs really fit the image I was trying to create!

tombo -- I'd be curious as to how the restaurants and other discretionary spending places are doing these days. Of course, with the cold weather, I'd expect their sales to be down, anyhow.

Photo Blog Blog Top Sites Blog Directory for Prescott, AZ

Local Blogs - Blog Top Sites