LRAPAC auction September 15th you can bid and buy dinner with former Edwin Edwards. Bob Merrick CEO with Latter & Blum delivered dinner for two at Galatoires. Attached is email from partner, client, friend who lives in New Orleans and upon my request of tips at dinning to impress client at Galatoires here is his reply. This is worth passing on to family: Rod, Glad to report record fund raiser over $10,000.
First ever Realtors economic summit November 1st speakers who have committed John Kennedy state treasure, Malcolm Young executive director of LRA, Elliott Stonecipher poster and Chip Songy partner with Stirling Real Estate born and reared right here in River City.
Petrus Hieghts Subdivision study
Village Green Subdivision study
People not properties:
Week before last Steven Moret secretary economic development was our guest on the show
Last week President Latter & Blum Inc. Rick Haase was our guest.
This week two real estate personalities Lamar White and Spencer Marks both sold their home in Petrus Heights. Lamar is moving to Dallas to attend law school, I only wish Spencer was moving to Texas he has turned out to be a strong young competitor.
Greg Trotter we said earlier on the show to expect nice rehab from Mr. Trotter on 3rd street shop. Good Town Talk article on Trotter renovation.
Loren Lampert new police chief: Thanks for you public service and sacrifice. This might be the first thing that the Mayor, city council, and Town Talk agree on.
Realtor Joe Betty Sterkyx and her husband celebrated 50th year wedding anniversary.
Feature Property: Phase two of Village at Versailles joint venture with Weil Company and Elite Builders marketed by Marks Company. Also wins the award for best sign on new development. You can bet Spencer Marks did not pay 100% of the cost for this master piece.
Commissioner’s report: Made my second meeting at La. Real Estate Commission and each meeting looking for couple of agenda items to share with Agents and brokers. (1) Mandatory course for 2012 is Social Media and new (2) Cite and fine instead of staff investigation and hearing on minor infractions.
Every Deal has a tale / tail.
Two local investors who have been quiet back in the market this week:
Emogene E Kubes, et al (3327 Halsey, Alex., LA 71301) to Jimmie D & Peggy I DeRamus (2417 Lee St., Alex., LA 71301) - Lots 7 & 8, Bacon Place (2830 Lee St., Alex., LA 71301), $100,000.00. Lesson learned in 1971 believe it was August where I put up the sign before in contacted the adjacent owner.
Sabine State Bank (P O Box 670, Many, LA 71449) to D & J Development of Louisiana & Arkansas, LLC (P O Box 1719, Tioga, LA 71477) - Lot 1, Riverview Acres Subd., $49,219.04
What is Ratcliff Facilities up to with these sales?
Doris G Greene Living Trust (2105 Jefferson Hwy., Pineville, LA 71360) to Ratcliff Facilities, LLC (P O Box 7522, Alex., LA 71306) - Lot fronting 125' on Madision St. (1120 Main St., Pineville, LA 71360), $37,291.00
Delia C Hebert, et al (8623 Hwy. 1 North, Dry Prong, LA 71423) to Ratcliff Facilities, LLC (P O Box 7522, Alex., LA 71306) - Lot fronting 95' on Main St., Pineville, et al (1106 Main St., Pineville, LA 71360), $250,000.00
This is in the same area where there is an old house I believe Ratcliff construction owns and if three little pigs where hiding in this house big bad wolf got huff and puff and blow it down. Paul Stich had been working on Main Street assemblage and maybe this is his deal and would invite him to call in.
Bayou Court I should have kept 4 of these:
Ulla U Knoepp (2906 Georges Lane, Alex., LA 71301) to Howard L Gates, Sr. & Julia K Gates (3224 Madonna Dr., Alex., LA 71301) - Lot 1, Bayou Trace Townhomes, Phase I (932 Bayou Trace Dr., Alex., LA 71303), $155,000.00
When you've seen one shopping center you've seen a mall.
New restaurant going in where former Sisters was located,, maybe leasing agent Amber Supgen will call in and tell us. Understand it is local menu / owner.
Crown Pine Realty 4, Inc. to John S McCabe (160 Kincaid Lane, Boyce, LA 71409) - Tract in Sec 22, T1SR4W, et al, $334,300.00
LLCc who are you:
Two Mules, LLC Ronald Sullivan(4020 Parliament Dr., Alex., LA 71303) to Jeffrey M & Allison L Covington (4815 Westgarden Blvd., Alex., LA 71303) - Lot 172, Charles Park Addn., $253,000.00
Muth, LLC, Joseph Muth (971 Brannon Road, Pineville, LA 71360) to Donald G Parker, II & Jean P Parker (P O Box 194, Glenmora, LA 71433) - 3.45 acres in Sec 5, T1SR2W, $8,300.00
Tips for the week:
35 year old investor called this week to share the good news that his first and only rent house loan was paid off this week. He plans to take $6,000 per year income and fund retirement plan contribution of $6,000 per year. What if over next 40 years he can average 4% return $570,153 and if he can earn 8% he has nest egg of $1,554,339
Next day client called wanting my opinion on what they should tell there daughter about when is the right time to buy. They asked me is this the right time to buy a house and I replied no. It is the right time to buy two houses one to live in and one to rent. Trust me it is “two house time” to buy.
England Air Park received zero grants this week and did not purchase any property: They did however celebrate $25 million that State of La. committed to this week for infrastructure at Highway 457, Leesville’s Western connection to 28 west. Also, their chairman Lance Harris is candidate for State Rep.
(+2) Rod’s economic indicator perfect 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 September 12 though September 16th 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 sales looking for 40 closed deals from previous week market provided volume of $5,885,870 with total of 44 sales very good week high volume and no sales over $450,000
(0) Random sales comparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.
Frederick L White, Jr. (11845 Brookhill Lane, Dallas, TX 75230) to Proactive Investments (P O Box 12353, Alex., LA 71315) - Lot 4, Blk 4, Petrus Heights (3011 Pershing Ave., Alex., LA 71301), $112,500.00. This sale was lower than 11 sale average of $124,000 for negative score (see attachment for research)
Chad E & Kelly J Franklin (205 Adams Path, Pineville, LA 71360) to Heather L & Kyle A Frederick (115 Lodge Hill Circle, Pineville, LA 71360) - Lot 103, Village Green Subd., $148,000.00. Sale we are tracking is better than $140,833 average for 2011 and better than $145,055 average for 2010 when market provide 12 sales. (see research in attachments)
(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us three sales
Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 208, Bocage Subd., Phase V (5835 West Austin Dr., Alex., LA 71303), $22,000.00
Francis M Hilton, et al (P O Box 35, Hineston, LA 71438) to Michael G & Doris R Vaughn (91 O V Kennedy Road, Hineston, LA 71438) - 15.144 acres in Sec 25, T2NR4W, $60,000.00
Roy O Martin Lumber Co., LLC (P O Box 1110, Alex., LA 71309) to Derek L & Emily E Weatherford (2191 Hwy. 121, Hineston, LA 71438) - 6.15 acres in Sec 18, T1NR3W, $24,600.00
(-1) New Home sales positive score requires only one sale for the week: this week market provide one sale. WSJ article mentioned July rate portends annual construction number sold of 298,000 new units nation wide peek 2006 was 2,000,000 built 85% decline. What are the Feds doing now but launching investigation of builders pay practice with independent contractors? Great time to team up with IRS and investigate builders and how they employ their crews.
(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales, This week we saw 4 sales totaling $360,000 / $5,885,700 = 6.12%
Sec. of HUD to Sharon Parker (P O Box 172, Marksville, LA 71351) - Lot H, Blk 1, Chester Heights Subd., $19,500.00
Sec. of HUD to Gregory S & Angela K Coutee (28 Kendall Lane, Boyce, LA 71409) - No description given, $70,600.00
LPP Mtg., Ltd. (6000 Legacy Dr., Plano, TX 75024) to Victor & Bobbie J Mahfouz (108 Eola Dr., Alex., LA 71303) - Lot 2, Blk D, L E DeSelle Subd. (108 Eola Dr., Alex., LA 71303), $134,900.00
The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Jenny L Edwards (3200 Military Hwy., Unit A, Pineville, LA 71360) - Unit 3200-A, Stonegate Condominiums (3200 Military Hwy., Unit A, Pineville, LA 71360), $135,000.00
Interest Rates: 30 year fixed is 4.13% was 4.14% the 15 year rate is 3.34% was 3.36% . 5/1 ARM is 2.95% was 2.93%.
Careful with what you read: Good bad example page A5 Monday September 19th article title “Side Jobs Bolster Some Lawmakers’ Paychecks”. When I saw photo of Rep Collin Peterson with big letters $9,000 for assistant management work on apartment complex I knew before reading the article that the author had a chop job mentality working. Then Danny Yardon and Brody Mullins (two authors) go the attack against La. Rep John Fleming who received $6,500,000 from a dozen Subway stores and UPS franchises. My questions were is that net or gross? Does Congressman own partial or full interest in these investments? Does one Subway store net $550,000 per store? Speaking of UPS stores this company started in 1907 and originally painted few trucks they had different colors so the public would know they had multiple trucks. Share Mike Lipsey story truck #87.
Numbers collected during the week:
19 feet 9 inches: Total fingernail length of Christine Walton new Guinness worl record.
30,000 number of jobs eliminated by Bank of America as part of their $5 billion cost-cutting plan.
$49,445 is income average for American family third year in a row that this has dropped now at 1996 average
15.1% share of American living at poverty level.
85 miles per hour new speed limit on some Texas highways.
52% of Americans are married and median age for first marriage is 28 for men and 27 for women. 11970 42% of women married as teens and 88% were married by age 24 today those numbers are 7% and 38%.