Rod's Notes

Rod's Notes For Wednesday 07/20/11


Wednesday 07/20/11

 

To participate in the show’s live call in dial 318-442-8255 (talk) Make sure you phone in 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).

 

You can now sign up on line for email distribution of my transcripts:go to www.kysl.com and click on Rod Noles then sign up to have the show’s notes emailed to you.

 

Attachments, Announcements, and Travels:

 

Bake sale for Johnny Hesni and his family today from 8:00 to 4:00 pm

 

Commercial REALTORS: Pick Up 8 Hours of CE in Lafayette, August 11:

Earn up to 8 hours of commercial-related continuing education credit at the annual Louisiana REALTORS Commercial Development Conference, scheduled for Thursday, August 11 at the Hilton Lafayette. Our largest event for commercial REALTORS will feature Louisiana Economic Development Secretary Stephen Moret, Stewart Title Chief Economist Ted Jones, commercial lending expert Brian Andrews, NAR Political Representative Brad Viator, and LR General Counsel Scott Johnson. These expert speakers will cover major industry topics and important issues impacting commercial REALTORS. This informative briefing session, followed by a networking luncheon, is approved for 4 hours of CE credit. Following the luncheon is an offering of LR's new "Sustainable Development & the Commercial Transaction" course, also approved for 4 hours of CE credit. REALTORS attending the full day will earn 8 hours of CE credit specific to commercial real estate. A room block at the Hilton is also available for out of town attendees. Click here for complete information and online registration or contact Kevin Calbert at 800-266-8538.

 

Featured property of the weeksomething new but I know we are on to something hot!!! 4036 Huntwick $255,000 three bedrooms 2.5 baths very talented and clever rehab and landscaping by Laura Ashley and Lloyd Overdyke

 

Guest: Debbie Ranson and Hank Hoag corporate official with Crye-Leike Realtors

 

People not properties:

 

Chris Roy thanks for your service and sacrifice.

                                                         

Every Deal has a tale / tail.

 

Bayou Rapides Development, LLC (1001 Bayou Place, Alex., LA 71303) to Kun C Tsai, et al (4125 Waterford Dr., Alex., LA 71303) - 2.0096 acres in Sec 21, T4NR1W, $500,000.00

 

Fun to follow names of partnerships and LLC: Sometimes you wonder where do the names come from?

 

Skyco Corp. (9875 Mansfield Road, Shreveport, LA 71118) to Rinnie L Malone (247Hazmuka Road, Pineville, LA 71360) - 1 acre in Sec 33, T5NR2E (247Hazmuka Road, Pineville, LA 71360), $105,000.00

 

New Construction:

 

Rapides Parish School District to Ratcliff Construction Co. (1715 England Dr., Alex., LA 71306) - Caroline Dormon Junior High School, Woodworth, LA, $7,406,500.00

 

8 most common problems with sellers in a difficult market:

1. Sellers can be uncooperative on price.

2. Sellers frequently believe that the way they live in the house is the way they can sell the house.

3. Sellers are often unprepared for low appraisals.

4. Most sellers aren’t negotiation experts. They may bring expectations and anxiety that make everyone’s experience more difficult.

5. Sellers can be uncooperative on commission and might even request a reduction.

6. Sellers regularly have unrealistic demands concerning showings, advertising, marketing, and communication.

7. Agents and sellers may have personality conflicts.

8. Sellers might not be aware of all the closing costs.

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 3

 

Legal recorder data for five business day July 11h, 2011 though July 15th, 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 this week there were 33 sales with volume of $3,644,887

 

Random salescomparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.

 

Kenneth J & Tamara B Willis (5120 Bluebird Lane, Alex., LA 71303) to Jennifer A Westerchil (4051 Bayou Rapides Road, # 201, Alex., LA 71303) - Lot 133, Highpoint Addn. (5120 Bluebird Lane, Alex., LA 71303), $137,500.00

 

Paul C & LaDonna G Hargis (14630 Hwy. 8, Colfax, LA 71417) to James H & Susan M Clinton (524 Park Place Dr., Alex., LA 71301) - Lot 9, Blk 3, Park Place Subd. (524 Park Place Dr., Alex., LA 71301), $217,000.00

 

 

(+1) Lot Sales Only need one sale for positive score and this week the market gave us three sales

 

JRT of Louisiana, Inc. (P O Box 12275, Alex., LA 71315) to Pamela F King (2726 Hill St., Alex., LA 71301) - Lot 138, Fairfield Subd., Phase IV (94 Belleau Wood Blvd., Alex., LA 71303), $42,000.00

 

The Union Bank (305 North Main St., Marksville, LA) to Stephen W & Carrie A Gibbs (112 Chris Lane, Pineville, LA 71360) - Lot 64, St. Andrews Links Estates, Phase Two, $38,000.00

 

B & B Office Holdings, LLC (P O Box 2167, Prairieville, LA 70769) to Samson Construction, LLC (37177 Heritage Court, Geismar, LA 70734) - Lot 10, Shadow Creek Ranch Subd. (304 Shadow Creek Ave., Pineville, LA 71360), $36,000.00

 

 

(+1) New Home sales positive score requires only one sale for the week: the market provided two sales

 

ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Amber C & Justin C Dauzat (51 Little John Lane, Dry Prong, LA 71423) - Lot 83, Sherwood Forest Subd. (51 Little John Lane, Dry Prong, LA 71423), $175,500.00

 

V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Toni M Genova (5810 West Austin Dr., Alex., LA 71303) - Lot 214, Bocage Subd., Phase V (5810 West Austin Dr., Alex., LA 71303), $193,000.00

 

U.S. home building jumps in June after dismal spring

Builders broke ground on more single-family homes and apartments in June as the home-building industry tried to shake off a historically bad spring. The Commerce Department says builders began work on a seasonally adjusted 629,000 homes last month, a 14.6% increase from May. Still, that's roughly half the 1.2 million homes per year that economists say must be built to sustain a healthy housing market. Much of the increase came from a surge in apartment construction, a volatile part of the industry. That jumped 31.8% last month. Single-family home construction rose a more modest 9.4%. Building permits, a gauge of future construction, increased 2.5%. June's building pace was the best showing since January, and single-family home construction saw the biggest monthly increase since June 2009, when the recession ended. Though new homes represent just 20% of the overall home market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.

 

(-1) Lender total Salesrates positive score if lender sales are below 5% of total sales. Six sales for the week with total volume of $449,000 / total sales for the week of $3,644,887 = 12.31%

 

The Union Bank (305 North Main St., Marksville, LA) to Cody D Gray (205 Red Oak Drive, Pineville, LA 71360) - Tract in or near Lot 9, Hayden Subd., $31,000.00

 

Dept. of HUD to K Pro Enterprises, LLC (5411 Coliseum Blvd., Alex., LA 71303) - Lot 73, Grundy Cooper Subd., $55,100.00

 

Dept. of HUD to James B Schneider, Iv (10 Roy Blair Road, Deville, LA 71328) - Tract in Sec 2, T4NR2E, et al, $145,000.00

 

The Union Bank (305 North Main St., Marksville, LA) to Stephen W & Carrie A Gibbs (112 Chris Lane, Pineville, LA 71360) - Lot 64, St. Andrews Links Estates, Phase Two, $38,000.00

 

Federal National Mtg. Assoc. to Loye S Ayres (513 Park Place Dr., Alex., LA 71301) - Lot 6, Blk 4, Park Place, et al (513 Park Place Dr., Alex., LA 71301), $85,100.00

 

Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Gary W & Nancy D Rials (3199 Hwy. 112, Lecompte, LA 71346) - Tract in Sec 2, T1NR1W, $95,000.00

 

Interest Rates: 30 year fixed is 4.50% was 4.51% the 15 year rate is 3.63% was 3.65% this is up from last week following eight straight weekly declines. 5/1 ARM is 3.02% was below 3.07%.

 

 

Wampold buys second Bluebonnet hotel

Mike Wampold, who is developing the Renaissance Baton Rouge Hotel, has purchased a second hotel on Bluebonnet Boulevard. Wampold bought the Quality Suites Hotel near the Bluebonnet/Interstate 10 intersection for $2.35 million in a deal that was filed today. The 120-room Quality Suites is about a mile away from the Renaissance hotel, set to open in late September or early October. Wampold says both of the hotels are "located in what we consider to be the epicenter of the Baton Rouge growth corridor." This is key price of $19,583 (this does not sound right).

God Bless America!

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