To participate in the show live call 318-442-8255 (talk)
Between 8:05 and 8:55 on Wednesday morning, do not attempt to call in on Saturday as this is our encore performance (fancy way to say taped). So remember questions, comments, corrections, or if I have not returned your call you can reach me live on Wednesday mornings at 318-442-8255. Youcan now sign up on line for email distribution of my transcripts for the show: www.kysl.com and click on Rod Noles sign up if you want my notes
Guest Ivan J. Miestchovich, Ph.D. Director and Associate Professor Institute for Economic Development and Real Estate Research University of New Orleans
Every Deal has a tale / tail.
Sabine State Bank (P O Box 670, Many, LA 71449) to Kirzner Investments, LLC (1406 Lake Dr., Woodworth, LA 71485) - .6887 acres in Sec 32, T4NR1W (1133 MacArthur Dr., Alex., LA 71301), $507,000.00.
Kirzner Investments, LLC (1406 Lake Dr., Woodworth, LA 71485) to Red River Bank (1412 Centre Court, Alex., LA 71301) - .6887 acres in Sec 32, T4NR1W (1133 MacArthur Dr., Alex., LA 71301), $590,750.00. Spencer Marksboth sides
Meyer, Meyer, Lacroix & Hixson, LLc (100 Engineer Place, Alex., LA 71303) to 348 Park Place, LLC Susan & Jeff Staples (5501-C John Eskew Blvd., Alex., LA 71303) - Lot 13, Mac-Lee Plaza (3609 Mac-Lee Dr., Alex., LA 71301), $120,000.00. Matt Ritchiehad both sides of this deal and he still have MMH&L 6,000 square foot office for sale.
Crown Pine Realty 4, Inc. to The 584, LLC (1070 Rob Mac Road, Ville Platte, LA 70586) - Tract in Sec 5, T2SR3W, et al, $1,092,800.00
Crown Pine Realty 4, Inc. to Keith A & Kathleen W Mason (17 Ellis West Road, Pitkin, LA 70656) - 29.74 acres in Sec 17, T1SR5W, et al, $71,000.00
Magnolia Pharmacy Services, LLC (3700Bayou Rapides Road, Alex., LA 71303) to Central Louisiana Aids Support Services ,Inc. (1785 Jackson St., Alex., LA 71301) - Part of Blk O, Clarence park Addn. (1783 & 1785 Jackson St., Alex., LA 71301), $187,000.00. Paul Maxwellwas listing agent not sure if he had both sides.
New Drive Inn only Pizza Hut in former Block Buster building on highway 28 East.
Holiday Inn Express on MacArthur Drive new hotel under construction behind former Burger King. Staff called yesterday making an inquiry for the show and person who answered the phone told Mary Ann it was none of her business what type hotel was being built. Permit office was closed when we call Holiday Inn Express but I will let you know next week.
Larry Bordelon has slab down at former North Circle for a build to suit industrial tenant.
BMW and Mercedes new dealership is now open for business, finest service department we will ever see in this market. Remember “When other want Walker will.”
Banc Corp South construction on Jackson Street is in full swing
96 apartment units as expansion of Magnolia Trace in the Lake District has roofs on some of the buildings. Eventually all buildings will have roofs.
People not properties:
Wayne Vallery, agent with Matt Ritchie passed away yesterday after long battle with cancer.
Foster Walkerelected chairman of La. Automobile Association see attachment for more
John Hesni: recognized by HUD in South East region of America for fastest closing 19 days from list to close. Part of Jack email laid claim that HUD stood for “Hurry Up Darling.”
James Greerwith D&J has first “Front Page book mark ad” this past Monday to advertise 13 properties and 4 companies. I need to see if Mr. Greer received lots of calls from this ad on Monday.
Attachments, Announcements, and Travels;
Two subdivision studies: Left Bank and Harmony Hilss
Press release regard Foster Walker election to Chairman of Automobile association.
http://www.thealluvian.com Greenwood, Mississippi: This is where Marilyn and I spent week end for the 4th. Four Star 45 room hotel in downtown Greenwood. Cooking school and Spa great place to spend the week end, nearly 5 hour drive so leave early on Friday stop in Greenville and dine at “Does Eat Place,” On the list of Top 100 hotel in America.
Mykoff absorption study for June: Dr. Ivan do you track this number and what would near 9 absorption tell you?
8.88 months supplyfor total market 755 homes for sale 85 sold 145 new homes on the market
44 month supply $400,000 number for sale is 44 and 1 sold 1 new home on the market
10.44 month supply $250,001 to $400,000 number for sale was 94 and 9 sold with16 new ones for sale
8.33 month supply $150,001 to $250,000 number for sale was 200 and 24 sold 30 new ones came on the market
8.18 month supply under $150,000 number for sale was 417 and 51 sold with 98 new homes on the market.
June 29 New York Times Poll:Owning a house remains central to Americans’ sense of well-being, even as many doubt their home is a good investment after a punishing recession. Nearly nine in 10 Americans say homeownership is an important part of the American dream, according to the latest New York Times/CBS News poll. And they are keen on making sure it stays that way, for themselves and everyone else. Support for helping people in financial distress over housing is higher than support for helping those without a job for many months. Making an offer for a house, something often done in past generations with little apprehension, is now riddled with worry. Only 49 percent call it a safe investment, while 45 percent feel it is risky. In a market where prices are consistently dropping, there is no easy exit
(+3) Rod’s economic indicatorperfect score is 5. When top rating of 5 appears week after week I will share with our audience, that “Green Shots” is here and recovery is in full swing. Rating for previous week was 2
Legal recorder data for five business day June 27, 2011 though July 1, 2011
(1)Total of 40 closed deals for the week has positive score
(2) At least one new home sale for the week has positive score
(3) At least one subdivision lot sale for the week garners positive score
(4) Number of lender sales in market place is less than 5% of the total market sales for the week.
(5) Two random residential sales compared to average prices for 2008, 2009 and 2010 that demonstrate increase prices.
(+1) Total saleslooking for 40 closed deals from previous week the market gave; Through Thursday 38 sales $4,254,803 no sales for Friday were reported.
Pending Home Sales Turn Around in May
Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of REALTORS. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which normally occur with a lag time of one or two months. This is the first time since April 2010 that contract activity was above year-ago levels, and the monthly gain was the strongest increase since last November when the index rose 10.6 percent. Absorption of inventory is the key to price improvement, and this solid gain in contract signings implies that home values in many localities are or will soon be stabilizing as inventories get absorbed at a faster pace
(+1) Random sales comparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.
(+.50)Phillip R & Becky J Prestridge (1254 Meadow Way, Terrell, TX 75160) to Charles M & Brittany L Ashburn (715 Ocean Parkway, Berlin, MD 21811) - Lot 5, Harmony Hills North (6431 Barber Dr., Pineville, LA 71360), $187,500.00. Sale we are tracking is higher than 2008 or 2009 average, in past 18 months only two sales in Harmony Hills.
(+.50)Gregory M & Elizabeth S Cooperrider (General Delivery, Roseburg, OR 97470) to James R Beatty, IV & Tracey C Beatty (5445 Provine Place, Apt. 1316, Alex., LA 71303) - Lot 23, The Left Bank Subd. (3816 Rue Left Bank, Alex., LA 71303), $650,000.00. Three home sales in past three years $550,000, $750,000 and $650,000 = average $650,000
(+1) Lot SalesOnly need one sale for positive score and this week the market gave us
Edwin E & Kerry B Dye (295 Wilderness Dr., Boyce, LA 71409) to RDK Properties, LLC (1423 Lee St., Alex., LA 71301) - Lot 8, Magnolia Ridge Subd., $130,000.00
(-1) New Home sales positive score requires only one sale for the week: this week the market deliver zip, zero, not one sale for new homes.
(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales. Three sales totaled $753,000 / $4,254,803 = 17.69%
Sabine State Bank (P O Box 670, Many, LA 71449) to Kirzner Investments, LLC (1406 Lake Dr., Woodworth, LA 71485) - .6887 acres in Sec 32, T4NR1W (1133 MacArthur Dr., Alex., LA 71301), $507,000.00
Sabine State Bank (P O Box 670, Many, LA 71499) to Lewis Chapel Pentecostal Church, Inc. (536 Little Egypt Road, Marthaville, LA 71450) - Lot 10, Idelia Place, et al (122 Kathryn Ave., Alex., LA), $21,000.00
The Union Bank (305 North Main St., Marksville, LA) to Clyde C & Catherine K Holloway (P O Box 340, Forest Hill, LA 71430) - 28.74 acres in Sec 20, T1SR2W, $225,000.00
Interest Rates: 30 year fixed is 4.58% was 4.50% the 15 year rate is 3.71% was 3.67% this is up from last week following eight straight weekly declines. 5/1 ARM is 3.16% was below 3%. Dr. Ivan where do you think interest rates are headed?
New addition to show: Each week will highlight different national companies that have a presence here in Central La.
First company will be Auto Zone
2 Billion in sales for 3rd quarter
5.4% same store sales increase
12.1% increase in profits
4,467 stores in 48 states largest auto part store in America
213 new sotres in past fiscal year
$297.98 recent price of single share of stock an all time high
5.7% growth for competitor O’Riley
6,000 to 7,200 square feet is the typical store (divided evenly between leased and owned)
Most stores are free standing but will consider in line store like in Kingsville
Demographics consider vehicle profile looking for 7 year or older ownership no remaining warranties and do it yourself repairs.