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).
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:
“The Help” is a great movie, If I didn’t think it deserved several academy awards you could actually look forward to sweep at the Oscars. Octavia Spencer and Viola Davis were great in their roles and producer made you feel like you were in 1962. A must see movie.
September 8th and 9th CCIM intro Baton Rouge La. two great instructors Rod Noles and Karl Landreneau register on ccim.com
A Town Jazz this Friday see attached flyer this is a fun fund raiser helps the Art Council of Central La. $25 from 7;00 to 9:00 in Coughlin Saunders center Friday August 26th
NAR has fund raiser at Exhibition Hall this week end need drive by reporters to call in and tell us more. I know the funds goes toward young fire arm safety programs.
Featured property of the week: Corner of Sterkyx Road and North Mall Drive 1.5 acres price adjusted to meet market conditions $7.50 psf now asking $495,000. (survey attached)
People not properties:
Howard Gist 91 years old passed away this week, respected attorney, banker, civic leader and family man. I am glad to have known him.
Jamie Lemoineand Mike Jenkins thanks for pitch hitting while I was in New Orleans at NAI conference.
Kay Brown and other who take it upon themselves to maintain Serenity Fields
LLC who are they
Pennington Properties, LLC (321 Jacob B Loop, Alex., LA 71303) to Humphrey H Hardy, II & Kathryn M Hardy (2519 Jackson St., Alex., LA 71301) - Lots 16 & 17, Hayden-Bolton Place (2519 Jackson St., Alex., LA 71301), $145,000.00. Third home from Jackson and Bush thought it was commercial at first.
BDR Properties, LLC (111 Rebel Run, Pineville, LA 71360) to Quality Care Givers, Inc. (P O Box 11589, Alex., LA 71315) - Part of Lots 33 & 34, Experimental Plantation, $100,000.00. Barry Hines represents buyer entity and land is 1.626 acres my suspicion is this is raw land for health care facility of some type on Highway One North.
Kenneth C & Betty L Lewing (502 St. Clair Road, Boyce, LA 71409) to D'Argent Properties, LLC (1460 Centre Court Dr., Alex., LA 71301) - 1.755 acres in Sec 1, T3NR4W, et al, $185,000.00. Best I can tell this is parcel on highway 28 West near St.Clair Road and will most likely be the site of a new Dollar General price per square foot is $2.42.
Every Deal has a tale / tail.
Lower third is closed to business sent David Strange back to Jackson Mississippi wanted to build 64 more apartments and 8,000 square foot shopping center and the Economic Development committee sent him packing. If the Mayor is for it the certain members of the council are against in and there goes opportunity for commercial center on Hodges Auction property. My prediction is that property will set just like it is for next 10 years. How often are we going to have investor who has a $10,000,000 package of 64 apartments and 8,400 sf new retail for local business come to lower third.
Upper Third Robbie Tarver building new building on his construction yard, right in the shadow of new bridge construction
Two new homes under construction at Alexandria Golf and Country Club first time I have seen them while in route to “Boots and Bow Tie” fund raiser for American Cancer Association.
Centennial Communications Corp. to Central Louisiana Cellular, LLC (1170 Devon Park Dr., Suite 104, Wayne, PA 19087) - Lot 81, Metroplex Subd., Phase III, 2nd filing (2006 MacArthur Dr., Alex., LA 71301), $1,300,000.00. I did not count this sale in my weekly total.
Nation wide foreclosures for single family homes on the up tick 8.44% of home owners missed at least one mortgage payment. To compare this to normal market of 1% as published in many papers and on line is a faulty comparison. The 1% number is what actually goes into foreclosure and late payments has been as high as 10% at its peak.
Knowing that Feds have announced interest rates would remain low for next 24 months actually hurts sales. Fearing that rates might increase motivates people to “lock in” low rates now and buy. Very few people are waking up saying I think we should buy a house today. Lack of confidence in employment, stock market, and fear of declining values has too many potential buyers on the side lines.
Cash in savings accounts is triple what it was in 2008 and my prediction is it will only increase through the balance of this year.
64 units at Legacy Hieghts now have people moving into the apartments. Alexandria Housing Authority now has reputation of how best not to run a housing authority.
EnglandAir Parkpurchases oops they didn’t buy anything this week.
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 16, 2011 though August 19, 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.
Total saleslooking for 40 closed deals from previous week market provided volume of $3,870,000 with 32 sales.
(0) Random salescomparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.
Roy G & Patsy H Beck (210 Wiesner Road, Unit 2, Spring Branch, TX 78070) to Clifford T & Katherina L Pierce (400 Terra Ave., Alex., LA 71303) - Lot 25, Woodridge Subd., Unit # 2 (4113 Mayflower Blvd., Alex., LA 71303), $180,000.00. Average price on the few sales market has provided is $215,333 the sale we are tracking is $180,000 rates negative score for the week
Pennington Properties, LLC (321 Jacob B Loop, Alex., LA 71303) to Humphrey H Hardy, II & Kathryn M Hardy (2519 Jackson St., Alex., LA 71301) - Lots 16 & 17, Hayden-Bolton Place (2519 Jackson St., Alex., LA 71301), $145,000.00. Seven sales average $114,158 this week’s sale beat the average at $145,000 for positive rating.
(1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us 6 or half dozen.
Palmetto Enterprises, LLC to Johnny Porter Builder, inc. (42 Philadelphia Road, Pineville, LA 71360) - Lot 9, Shady Crest Subd., Phase 1 (103 Shady Crest Lane, Deville, LA 71328), $27,000.00
F & J Investments, LLC (4507 Waverly Blvd., Alex., LA 71303) to Joseph A Lamanna, et al (368 Deer Trace, Apt. 466, Pineville, LA 71360) - Lot 23, Hidden Path Subd., Phase II (201 Hidden Pines, Pineville, LA 71360), $70,000.00
Commercial Partners, LLC (3219 Marye St., Alex., LA 71301) to Lambert Recreational Properties, LLC (P O Box 215, Hessmer, LA 71351) - Lot 5, Elza Hebert Estates, $50,000.00
New Way Investments, LLC (P O Box 4117, Pineville, LA 71360) to Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) - Lot 16, Williams Lake North Subd., Phase II (308 Nickel Loop, Pineville, LA 71360), $22,500.00
Olson's Properties, LLC (8782 Hwy. 1200, Boyce, LA 71409) to Michael L Satcher, II & Courtney R Satcher (109 Morgan St., Ball, LA 71405) - Lot 4, Colina Heights Subd., $17,000.00
(+1) New Home sales positive score requires only one sale for the week: that’s what we have one new home sale for the week
Brittain & White Construction, LLC (5521 Jackson St., Alex., LA 71303) to Robert S & Stephanie L Worley (508 B Ansley Blvd., Alex., LA 71303) - Unit 508, Phase I, Building 9, Cypress Point Condominiums, $159,500.00
(+1) Lender total Salesrates positive score if lender sales are below 5% of total sales. This week there was only a single sale of $11,268 / $3,870,000 = not even 25% of 1%
Deutsche Bank, et al to Fred R Cull, Jr. & Charlotte B Cull (146 Lakeland Dr., Pineville, LA 71360) - Part of Lots 3 & 4, Blk 101, Poplar Grove Addn. (2316 Orange St., Alex., LA 71301), $11,268.00
Lender to Guarantor (it’s yours now)
Interest Rates: 30 year fixed is 4.19% was 4.35% the 15 year rate is 3.43% was 3.51% . 5/1 ARM is 2.92% was below 2.89%.
Money will fund expansion, create at least 500 jobs: Chennault International Airport in Lake Charles will get $14 million in state funding that will go toward the cost of building a new hangar. Gov. Bobby Jindal says the expansion will attract at least 500 new aircraft maintenance, repair and overhaul jobs to the area. "This airport has been bursting at the seams with work, and with this $14 million investment, more facilities will become available for current and prospective tenants, providing space for the continued growth of aviation maintenance operations that will position the airport to attract hundreds of new jobs to the area," Jindal says. The $18.5 million hangar will have four open bays, big enough to handle larger wide-body airplanes, like the Boeing 747 or 777 or the Airbus A340. Aerofame, which handles maintenance and repair for firms such as FedEx and US Airways, already has 300 employees at Chennault and is on track to hire 650 by 2013.
First-time unemployment claims increase in La.
First-time claims for unemployment insurance increased in Louisiana for the week ending Saturday. The Louisiana Workforce Commission figures released today show the initial claims rose to 4,033 from 3,857 for the week ending July 30. The figure was lower than it was for the comparable week a year earlier, when there were 4,305 initial claims. The four-week moving average, which is a less volatile measure of claims, decreased to 4,103 from 4,108 for the week ending July 30. Continued unemployment claims filed for the week ending Saturday were 48,392, an increase from 48,216 the previous week.
LouisianaFastStart tops national training list
Louisiana FastStart has been singled out as the best workforce training program in the nation for the second year in a row by Business Facilities magazine. The state topped all others, with Georgia and North Carolina following. The ranking takes into account training incentives, success in securing projects, coordination between economic development and education organizations, and other factors. Launched in 2008 as part of Gov. Bobby Jindal's workforce development reform plan, Louisiana FastStart was created within Louisiana Economic Development to foster job creation through business expansion and recruitment. FastStart provides employment services at new or expanding business facilities. Services are offered at no cost to eligible Louisiana companies. Baton Rouge clients include Electronic Arts Inc., Stupp Corp. and The Baton Rouge Coca-Cola Bottling Co.