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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Thinking about electronic billboard with graph of DJA for last 10 days behind big photo of Rod and narrative that says, “miss me yet? Let’s talk about investment real estate.
Better than what the new retail casket companies might come up with, “we’re the last to let you down” or “guaranteed satisfaction or your mummy back”
Attachments, Announcements, and Travels:
Two studies one of Harmony Hills and the other Timber Trails.
Highway 190 East bound land will be closed from Friday 7:00 pm until Monday at 5 am. Try going through St. Francesville The new bridge is beautiful and the route is 15 minutes longer. If you go this way pay attention to speed limits going through small towns.
Back to school shopping second only to Christmas holidays and my drive by research appears to be lots of parents out preparing for start of school. Please drive carefully next week around our schools.
Featured property of the week: 10,000 sf warehouse at 6523 Masonic Drive former Skate World. Climate control, loading dock, great highway access. Might be the only 10,000 square foot building in the market place that is for rent $3,500 per month.
People not properties:
Governor Edward’s visit to Rotary was a hit with the crowd. He packed the house, looked great, and his range was from Cajun jokes to Greek mythology. During Q&A I asked if there were any funny one liner he remembers from the campaign trails.
Central La.lost a good friend and community activist with passing of our friend Chuck Saucier.
LLC who are they
Patricia P Mayeux (499 Cumming Dr., Pineville, LA 71360) to Apogee, LLC Jon Norman(299 Versailles Blvd., Alex., LA 71303) - Lot 11, Verde Vista Subd. (499 Cummins Dr. ,Pineville, LA 71360), $42,500.00
Luneau Deville Properties, LLC Raphael Luneau(5028 Old Marksville Hwy., Pineville, LA 71360) to Malcolm L & Rebecca R Burns (4111 Leon Dr., Alex., LA 71303) - Lot 7, Stone Manor Subd., Phase II, et al, $90,000.00
Pearlie B Clark (3916 Maywood St. ,Alex., LA 71302) to Elite Rentals, LLC Lucas Gerald Lacour(P O Box 318, Dry Prong, LA 71423) - Lot G, Sq 1, Meyer resubdivision of Lots 6-10, Sq 1, Woodside Park Subd. (3506 Queens Court, Alex., LA 71301), $15,372.00
Sombreros restaurant opened this week Copelands opened last week and week prior to that Spoons opened and this week Kracked Kernel candy store at 4508 Coliseum Blvd.
Vanguard Synfuels reopens in Pollock Darrell Dubroc was able to secure $10.4 million loan from USDA. The plant will employee 25 people initially.
Highway 71 South former Monsanto agriculture products building (I once owned this property) sold it to Odey Laverne and looks like he is building new improvements but I need help from “drive by reporter”
Every Deal has a tale / tail.
Ritchie Properties, LLC (1268 Dorchester Dr., Alex., LA 71303) to JEC Real Estate Investments, LLC (3003 Old Forge Dr. Suite B, Baton Rouge, LA 70808) - Lot 1, Ritchie Center, $555,443.00. Burger King purchased part of Garden District shopping center Randy Boughton with Latter & Blum In Baton Rouge was selling agent. Randy represented the same group last year in purchase of former Hickory Hut. Ask listeners why BK would want to be on this side of the street.
John A Davis, III (2280 Choto Road, Knoxville, TN 37922) to Joseph C & Sandra G Hopewell (5514 Greenhealth Lane, Katy, TX 77450) - 11 acres in Sec 87, 88, & 52, T4NR3W, et al, $1,000,000.00. Jo Ann Deville with Keller Williams was selling agent and Lynette Giallonardo with Ritchie property was listing agent. This is the second sale this month where physician are buying $1,000,000 properties. Major point at Kincade Lake.
Southern River Restaurants, LLC (296 Highland Blvd., Natchez, MS 39120) to BRH Properties, LLC (296 Highland Blvd., Natchez, MS 39120) - 1.729 acres in Sec 43, T4NR1W (1500 MacArthur Dr., Alex., LA), $1,750,000.00. Apple Bee sale not arms length transaction but could be indication to value was not used in the total for REI.
Edward Larvadain, Jr. to Hashem Aldalaly, Inc. d/b/a King City III - Part of 2901 Third St., Alex., LA, for 5 years @ $1,400.00 monthly (2901 Third St., Suite B, Alex., LA) need help from “drive by reporters”
EnglandAir Parkpurchases oops they didn’t buy anything this week.
State of LA to Tudor, Inc. (P O Box 13135, Alex., LA 71315) - State emergency megashelter warehouse, LSU AgCenter, $388,000.00
(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.
Legal recorder data for five business day August 1, 2011 though August 5, 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 market provided volume of $5,690,316 with total of 45 transactions.
There still, however, is no shortage of housing inventory. More than 3.75 million existing homes in June alone were on the market, according to the National Association of Realtors. At the latest rate of sales, it would take 9.5 months to exhaust that inventory, about 50% longer than what NAR considers a healthy housing market. Per Mykoff report last week our local market was at 9.75 month absorption rate.
(.50) Random salescomparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.
Mark K & Robin A Hankins, et al (314 Sage Hill Dr., Shreveport, LA 71106) to Miranda S & Wade A Derrick, et al (1013 Amber Lane, Pineville, LA 71360) - Lot 114, Harmony Hills Subd., Phase III (1013 Amber Lane, Pineville, LA 71360), $185,000.00. 2008 there were only 4 sales and then one sale each year for 2009, 2010, and 2011 year to date. The average for 2008 compared to average for next three years was as follows 2008 was $153,475 compare to 159,333 or 3.81% increase and average of all sales is $155,857 the sale we are tracking is $185,000 for positive score.
William B Killen (P O Box 157, Waterproof, LA 7137) to Jonathan D & Robin R Watkins (8127 Ridgemont Dr., Pineville, LA 71360) - Lot 51, Timber Trails Subd., Ext. # 2, $138,000.00. Timber trails had zero not one but zip sales in 2008 in 2009 there were 3 sales in 2010 there were 2 sales and 2011 year to date 3 sales. Average sales price since January 2008 until August 2011 is $144,612. Average sales price in 2009 was $125,000 then 2 sales in 2010 average price was $161,200 on surface it would register 28% increase in values but sampling is too small to make this call. 2011 so far has witness 3 sales ranging from $92,000 to $229,000. Best average is three year is $144,612 and sale we are tracking is $138,000 for negative score.
(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us 6 sales 5 of those sales was developer’s inventory.
Robert W & Marlene A Biggs (4885 Hwy. 494, Natchez, LA 71456) to Malcolm L & Rebecca R Burns (4111 Leon Dr., Alex., LA 71303) - Lot 3, Stone Manor Subd., Phase I, $15,000.00
Bocage Subdivision of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 236, Bocage Subd., Phase V (5810 Hannah Dr., Alex., LA 71303), $22,000.00
Bocage Subdivision of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 210, Bocage Subd., Phase V (5819 West Austin Dr., Alex., LA 71303), $22,000.00
B & B Office Holdings, LLC (P O Box 2167, Prairieville, LA 70769) to Samson Construction, LLC (37177 Heritage Court, Geismar, LA 70734) - Tract in Sec 8, T4NR1E (314 Shadow Creek Ave., Pineville, LA 71360), $36,000.00
Bocage Subdivision of Alexandria, LLC (P O Box 12846., Alex., LA 71315) to Thomas Bolton Properties & Construction, LLC (4821 Porter Circle, Alex., LA 71303) - Lots 239 & 240, Bocage Subd., Phase V (5834 & 5842 Hannah Dr., Alex., LA), $75,000.00
(+1) New Home sales positive score requires only one sale for the week: market provided 4 none in Pineville.
Martel D Cassell (1945 Cassell Road, Woodworth, LA 71485) to Timothy M & Leanne R Louviere (4051 Bayou Rapides road, Apt. 1202, Alex., LA 71303) - Lot 183, Bocage Subd. (5962 Ron Mar Dr., Alex., LA 71303), $210,000.00
V & V Builders, LLC (P O Box 12846., Alex., LA 71315) to Alton J Horn, Jr. & Miranda H Horn (5827 Hannah Dr., Alex., LA 71303) - Lot 231, Bocage Subd. (5827 Hannah Dr., Alex., LA 71303), $198,500.00
D J H Real Estate Investments, LLC (1104 Palmer Chapel Road, Pineville, LA 71360) to Maurice P & Shontel C Seneca (8 Indian Creek Road, Woodworth, LA 71485) - .282 acres in Sec 17, T2NR1W, $158,500.00
Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Meade E Palmer, III & Megan E Palmer (383 H Strange Road, Lecompte, LA 71346) - 1 acre in Sec 2, T1NR1W (383 H Strange Road, Lecompte, LA 71346), $166,300.00
(+1) Lender total Salesrates positive score if lender sales are below 5% of total sales. This week there
Federal National Mtg. Assoc. (904) to Christopher J Aultman (3510 N Causeway Blvd., Suite 600, Metairie, LA 70002) - Lot 91, Legacy Pointe Subd., Phase IV (3013 Legacy Loop, Pineville, LA), $187,507.00 / 5,690,316 = 3.3%
Servicers completed 10,438 short sales through the government's Home Affordable Foreclosure Alternatives program since it launched in April 2010, according to the Treasury Department. Head lines in one of my electronic news letters this is simply not an impressive number compared to 1,000,000 foreclosed properties last year this is an annualized number of 40,000.
Lender to Guarantor (it’s yours now) 6 transfers from lender to government back guarantor total volume of $738,449. Tell the story about veteran 24 months behind and no chance of deficiency judgment.
U S Bank to Dept. of HUD - Lot 17, Blk 9, Airview Terrace, $127,623.77
U S Bank to Dept. of HUD - Part of Lot 1, Sq 53, Clarence Park Addn., $66,860.79
Standard Mtg. Corp. to Dept. of HUD - Lot 7, Sq 13, Hill Addn. (2056 Hill St., Alex., LA 71301), $128,337.17
Nationstar Mtg., LLC to Federal National Mtg. Assoc. - 1.562 acres in Sec 22, T5NR1W (808 Ates Road, Pineville, LA 71360), $236,835.00
U S Bank to Dept. of HUD - Lots 10-12, Blk 6, Shady Hills Subd., $83,657.20
Regions Bank to Federal National Mtg. Assoc. - Tract in Sec 25, T2NR4W (396 Harper road, Hineston, LA 71438), $95,137.99
Interest Rates: 30 year fixed is 4.33% was 4.42% the 15 year rate is 3.50% was 3.55% this is down from last week.. 5/1 ARM is 2.91% was below 2.91%.
B.R., Lafayette named to Top 100 places to live list
Baton Rougeand Lafayette have both been named to RelocateAmerica's "Top 100 Places to Live in 2011." They were the only two Louisiana cities to make the 14th annual list, which is based on a number of factors, including housing, economic health, safety and input from community leaders. The list ranked the top 10 cities to live, but didn't categorize places outside the top of the chart. Austin, Texas, was named as the best place to live, and Grand Rapids, Mich., was second. RelocateAmerica is a directory of more than 6,000 communities with links to services to help people with relocating
S&P downgrades Fannie and Freddie, U.S.-backed debt
Standard & Poor's Ratings Services today downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt. The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options. All the downgrades were from AAA to AA+. S&P says the agencies and banks all have debt that is exposed to economic volatility and a further downgrade of long-term U.S. debt. Their creditworthiness hinges on the U.S. government's ability to pay its own creditors. Today's downgrades of the mortgage giants Fannie and Freddie reflected their "direct reliance" on the U.S. government, S&P said. Fannie and Freddie own or guarantee about half of all U.S. mortgages, or nearly 31 million home loans whose total worth exceeds $5 trillion. As part of a nationalized system, they account for nearly all new mortgage loans. Their downgrade might force anyone looking to buy a home to pay higher mortgage rates. Officials at Standard & Poor's say they will also indicate shortly how local and state governments will be affected by their decision on Friday to lower the long-term U.S. debt from AAA to AA+.
Bluebonnet shopping center sold for $1.65 million
A shopping center on Bluebonnet Boulevard, near Burbank Drive, has been sold for $1.65 million. The Vo Family Trust of Kenner purchased the Bluebonnet Plaza Shopping Center, according to records filed with the East Baton Rouge Parish Clerk of Court's office. Bluebonnet Plaza, which sits just north of an Albertsons store, is an 11,200-square-foot center that has several tenants, including Wingstop, a nail salon, a dry cleaners and a Chinese restaurant. Price per square foot was $147 psf
First-timeLa.jobless claims down
First-time claims for jobless benefits fell 6.5% in Louisiana. The Louisiana Workforce Commission says 3,857 newly unemployed people made initial claims during the week ending Saturday. That's down from 4,123 for the week ending July 23. For the comparable week ending July 31, 2010, the state recorded 4,109 initial claims. The four-week moving average of initial claims decreased to 4,108 from the previous week's average of 4,186. Those still looking for work filed for an additional 48,216 weeks of benefits for the week ending Saturday. That's down from 48,948 for the week ending July 23. For the comparable week a year ago, there were filings for an additional 58,952 weeks.