Rod's Notes

Rod's Notes For Wednesday 072711

Wednesday 07/27/11


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


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Attachments, Announcements, and Travels:


Two sales trend studies one for Hills Gait and the other Brentwood Subdivision.


Survey for $500,000 sale on MacArthur drive



Featured property of the week:

FSBO on highway 165 North owned by Mark Harlan priced at $475,000 with 4 acres 333’ x 479’ if you have commercial use for the two story building it’s even a better deal. Priced at less than $3 psf share with listeners discovery made this week with National retailer looking in Pineville market. Where do you think are two highest price sales and what is the difference in pricing along 165 route.  


People not properties:


Deborah Randolph new executive director for Central La. Chamber of Commerce.


Jennifer Atwood and her team placed third in Food Network competition


Rob Antoon selected by La. restaurant association as Culinary Humanitarian of the year. Remind our listeners Rob is one of Camille Gravel’s grandson and our community is blessed that the “whole famn damily” as choosen Central La. as their home   


Elaine Setliff broker/owner of Lagniappe Realty great front page ad and Town Talk insert on Monday.


Mike Robertson Mayor of Bunkie kudos on $20 million dollars state investment for juvenile center.


Once a month Commissioner Report: I have a lot to learn, first meeting established that. Numbers for agents down 5% from 2010 there were 9,914 active sales people licenses and there are now 9,400.


Every Deal has a tale / tail.


Bayou Rapides Development, LLC Bryan Butler (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. This is the land next to Tractor Supply not sure what buyer plans to do but at $5.71 psf it is retail or hospitality. Survey attached to my notes. Paul Maxwell handled this deal plus the next sale in same area.


Bayou Rapides Development, LLC (3704 Coliseum Blvd., Alex., LA) to Crossfit Alexandria, Inc. (1205 Texas Ave., Alex. ,LA 71301) - .527 acres in Sec 21, T4NR1W (3158 N MacArthur Dr., Alex., LA 71303), $60,000.00


301 Jackson PlacePartners to 201 Jackson Place, LLC (301 Jackson St., Suite 100, Alex., LA 71301) - Part of Lots 1 & 4, Sq 18, City of Alex., et al, $750,000.00. Karen Faulk put this deal together with some of the tenants in the building taking ownership interest in partnership. Lindsey Torbet, Pat Moore, Tom McBride and Karen Faulk are some of the partners.


Benjamin T & Melanie M Drury (2600 Horseshoe Dr., Alex., LA 71301) to William D & Elizabeth P Long (5601 Courtland Place, Alex., LA 71301) - 2.595 acres in Sec 23, T3NR1W, et al (2600 Horseshoe Dr., Alex., LA 71301), $1,000,000.00


Antoon Holdings, LLC (P O Box 222, Alex., LA 71309) to Rapides Lodging Partners, LLC (5650 Frontage Road, Monroe, LA 71202) - Tract in Sec 19, T4NR1W, $59,000.00


Keith Griffith (19 Baum Road, Ball, LA 71405) to Kenneth L Perego, II (4704 Collinsburg Dr., Alex., LA 71303) - 213.6 acres in Sec 16, T5NR1E, $66,873.00. Price per acre is $313 my father in law would say, “it’s worth that price per acre if all it does is hold the world together”


Spoons Frozen Yogurt opening this Friday July 29, 6 pm. Owned and operated by good friends of mine.  Sneak preview granted to me shows classy surroundings and great yogurt! Wanda Vandover.


EnglandAir ParkPurchases


John D & Mary C Winn (4 Dottie Lane, Boyce, LA 71409) to The England Economic And Industrial Development District - Part of Lot 1, Dottie Land Subd., $126,040.00


Jo Ann McDaniel (490 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 3, Bayou Grosse Park Subd., et al, $90,000.00


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


Diane G King, et al (319 Holiday Circle, Pineville, LA 71360) to Vaamana, LLC Madhavi Anil Danivas (5114 Mallard Dr., Alex., LA 71303) - Unit 105, Parliament Square Condominiums, $74,000.00


All About Storage of Cenla, LLC  Alan Lewis Trammell(64 Ross Lane, Alex., LA 71303) to Jabez Holdings, LLC Steven Tyer(P O Box 241, Woodworth, LA 71485) - Tract in Sec 18, T4NR1E (1926 Melrose St., Pineville, LA 71360), $49,000.00


(4.5) 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 this week is 4.5 close to my target score of 5.


Legal recorder data for five business day July 18th, 2011 though July 22nd, 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 great week for volume 44 sales with total volume of $5,515,777


Fewer sales: Fewer Americans bought previously occupied homes in June, putting this year on pace to be the worst for sales since the housing bust. Home sales fell 0.8% last month to a seasonally adjusted annual rate of 4.77 million homes, the National Association of Realtors says. That's far below the 6 million homes per year that economists say represents a healthy housing market. Through the first six months of this year, the sales pace is behind last year's 4.91 million homes sold—the weakest sales in 13 years. Sales have fallen in four of the past five years.


(+.50) Random salescomparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.


Angela F Sikes (3008 Hwy. 28 E, Pineville, LA 71360) to Phillip C & Carla J Tobey (P O Box 4558, Attn: Brazil Operation, Houston, TX 77210) - Lot 13, Hills Gait Subd. (169 Adams Path, Pineville, LA 71360), $415,000.00. Past three years there have only been 6 sales with lowest at $275,000 and highest at $415,000 and average sales price of $340,715


Trotter Investments, LLC to William P Trotter - Lot 11, Brentwood Subd. (1005 Windermere Blvd., Alex., LA 71303), $203,500.00. Four sales in what is really know as first phase of Hunter’s Grove average price of $206,500 sale I am tracking this week is $203,500 close but under the average for negative score. Four sales in what is realy know as first phase of Hunter’s Grove.


Spring buying gives housing market temporary lift

Home prices rose for the second straight month in most major U.S. cities and are stabilizing after years of declines. But analysts say the trend in prices hardly signals a rebound for the troubled housing market. A flurry of spring buyers is helping boost sales. At the same time, millions of foreclosures are in limbo, awaiting the results of a government investigation into improper practices by mortgage lenders. The Standard & Poor's/Case-Shiller home-price index shows that prices rose in May in 16 of the 20 major U.S. cities tracked. Boston, Minneapolis and Washington posted the biggest monthly increases. Prices in Detroit, Las Vegas, and Tampa, Fla.—three cities hit hardest by the housing crisis—fell to their lowest points since the recession began. Price declines have been getting smaller through the year. Seasonally adjusted prices have fallen a modest 1.2% over the past six months, according to the index. That's roughly a third of the decline from the previous six months.


(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us five sales zero from developer’s inventory.


Kristy A Cole (22 Big Creek Road, Hineston, LA 71438) to Kevin S & Cynthia A Cloud (3810 Brenda St., Alex., LA 71302) - 9.7 acres in Sec 18, T2NR4W, $45,000.00


The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Philbert & Sandra L Bachman (1240 Lake Dr., Woodworth, LA 71485) - Lot 16, Belle Chase Subd., $35,000.00


Michael W & Michele T Barnett, et al (18012 Monitor Ave., Baton Rouge, LA 70817) to Gracie I Clifton (34 Shackleford Road, Clifton, LA 71447) - 5.5 acres in Sec 2, T3NR4W, $55,000.00


Trammell Properties, LLC (64 Ross Lane, Alex., LA 71303) to Jabez Holdings, LLC (P O Box 241, Woodworth, LA 71485) - .502 acres in Sec 56, T3NR1W (6642 Old Baton Rouge Hwy., Alex., LA 71302), $55,000.00


Estelle P Austin, et al to Orris V Cooper, Jr. (1307 Lukirk St., Iowa City, IA 52240) - 18.51 acres in Sec 8, T4NR1E, $34,000.00


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


Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Lucas J & Gaynell R Byrd (381 H Strange Road, Lecompte, LA 71346) - Tract in or near Lot 29, Indian Creek Park Subd., $162,500.00


Campbell's Construction, Inc. (8246 Old Hwy. 71 N, Pineville, LA 71360) to Jo Ann H Bordelon (555 Lou Ann Dr., Colfax, LA 71417) - Lot 9, Jennifer's Place Subd.-Condominiums (1023 Jennifer's Place, Pineville, LA 71360), $152,500.00


Continuing weakness:Fewer people bought new homes in June, evidence that the housing market remains weak. The Commerce Department says sales of new homes fell 1% in June to an annual rate of 312,000. That's less than half the 700,000 homes sold per year that economists say is typical in healthy markets. Sales fell to record lows in the Northeast and West. The median price of a new home rose to $235,200 in June, up 5.8% from May. Housing remains the weakest part of the U.S. economy. Last year was the worst for new-home sales on records dating back a half-century. Through the first six months of this year, sales are lagging behind last year's totals.


(+1) Lender total Salesrates positive score if lender sales are below 5% of total sales. This week there were two lender sales totaling $165,000 / $5,515,777 = 2.99%


Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Credit Savers, LLC (P O Box 12354, Alex., LA 71315) - Tract in Sec 1, T1NR1W, et al (2911 Hwy. 112, Lecompte, LA 71346), $130,000.00


The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Philbert & Sandra L Bachman (1240 Lake Dr., Woodworth, LA 71485) - Lot 16, Belle Chase Subd., $35,000.00


Interest Rates: 30 year fixed is 4.53% was 4.50% the 15 year rate is 3.65% was 3.63% this is up from last week following eight straight weekly declines. 5/1 ARM is 3.00% was below 3.02%.



La.jobless rate drops to 7.8%

Louisiana's unemployment rate dropped in June to 7.8% as job growth in the private sector continued to outweigh losses in government employment, the state Workforce Commission reported today. The rate for May was 8.2%. The figures are adjusted for seasonal factors. In June 2010, the state's jobless rate was 7.5%. Last month, the number of people listed as unemployed fell to 160,400 from 169,700 in May. At the same time, the civilian labor force, including the employed and those actively seeking work, fell by 15,100. During the economic downturn, economists have typically attributed part of a labor force downturn to people stopping their job hunts, as well as to those who got jobs. Still, Louisiana was only one of eight states that recorded jobless rate declines from May to June. Increases hit 28 states, while 14 states were unchanged. On a seasonally adjusted basis, Louisiana had 27,800 more private-sector jobs in June than in June 2010. Over the same time period, government employment fell by 15,200. The leading sectors included private education-health services, leisure-hospitality and manufacturing. The state releases non-seasonally adjusted job figures for Louisiana and metropolitan areas on Wednesday.


Leading indicators rise, signal slow growth

A private research group forecasts that the economy will grow slowly as summer transitions into fall. The Conference Board says its index of leading economic indicators rose 0.3% in June. The index had rebounded 0.8% in May after dropping 0.3% in April. That was the first decline since June 2010, as economic growth slowed. June's reading suggests that the recent slowdown in growth won't worsen into a recession over the next few months, even with high unemployment and a weak housing market. Many economists expect a moderate pickup in the second half of the year. Half of the 10 measures that the Conference Board compiles into its index showed improvement, four declined, and one was steady.


BancorpSouth posts profit;

Two regional bankers with a presence in Baton Rouge posted varying second-quarter results. BancorpSouth posted a second-quarter profit—reversing a year-ago loss—as it was able to sharply reduce its reserve for problem loans. For the April-through-June period, BancorpSouth earned $12.8 million, or 15 cents per share, compared with a loss in 2010's second quarter of $12.6 million, or 15 cents per share. BancorpSouth, based in Tupelo, Miss., broke into the black by cutting its credit loss provision from $62.4 million a year ago to $32.2 million during the last quarter. Nonperforming loans fell from the first quarter of 2011 by $45.2 million to $379.8 million. Interest revenue rose 0.5% from a year ago, from $109.3 million to $109.9 million. Loans and leases totaled $9.2 billion, down 4.5% from $9.6 million in last year's second quarter. Non-interest revenue rose to $75.1 million from $57.1 million a year ago. Credit and debit card fees were up 20.7% from a year ago.



Short-term outlook brighter: A private research group is reporting that U.S. consumers' confidence rose slightly in July as concerns about jobs and income somewhat eased. The Conference Board's Consumer Confidence Index edged up to 59.5 in July from a revised 57.6 in June, which marked a seven-month low in the measure. Economists had expected the July figure to fall to 56. Consumers' short-term outlook improved, according to the index, but their thoughts on current business and employment conditions dimmed as labor market concerns persist. A reading of 90 indicates a healthy economy on the index, which measures how Americans feel about business conditions, the job market and the next six months.


La.ranks second nationally for job creation

Over the past five years, Louisiana saw the second-largest increase of any state in the number of new jobs. There were 1.9 million jobs in the state in June, according to figures from the U.S. Bureau of Economic Analysis. That was up nearly 56,000 jobs from June 2006. Only Texas added more jobs during that period, adding 537,500 jobs to boost the number of nonfarm jobs to nearly 10.6 million. American City Business Journals, which did the report, says North Dakota had the biggest percentage gain over the five-year period: Non-farm employment in that state was up by nearly 12%, bringing the number of jobs to 394,000


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