Rod's Notes

Rod's Notes For Wednesday 12/07/11


Wednesday 12/07/11

 

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You can participate in the show by calling 318-442-8255 (talk) between 8:05 and 8:55 on Wednesday morning.  Do not attempt to call Saturday this is our encore performance (fancy way to say taped).

 

Attachments, Announcements, and Travels:

 

Chandler Park Subdivision study.

 

Board of Realtors Awards and Installation Banquet this week at the Bistro. Affiliates expo one hour prior to lunch meeting of our 300 Board Members 127 have purchased tickets to this event.

 

Awards for this past year include the following and I will announce winners next week

 

Rookie of the Year

Realtor of the Year

President’s Plaque

 

High producers were once called the “Million Dollar Club” which meant you needed to list or sell one million in sales volume for the year. This year 59 of our members achieved this level of production. Last year it was 70 the year before it was above 80. By my calculations based on commission rate and agent’s split with their broker one could reach this milestone with $20,000 in annual earned commission. Does this mean out of 300 Realtors only 59 made $20,000 per year? Listen to the answer on the show.

 

Announcement: Open house beginning today at 2070 North Mac Arthur for Wurth Snider Bolt & Screw for new 13,000 square foot office and warehouse. Larry Bordelon is developer and landlord for this building.

 

Tunica-Biloxi $13 million dollar 40,000 square foot cultural center opening is either soon or has happen recently drive by reporter please call and let us know which.

 

End of the year real estate income tax tips: Not much you can do for tax planning related to real estate this late in the year. You can rush some deductions for example, pay January’s house note early deduct one more month’s interest for 2011. You can delay closing of taxable transaction until January pushing gain into 2012 vs. 2011.

 

People not properties:

 

Jonathan Goins thanks for your decision to serve the public a city council member from District 3.

 

Kudos to those who are willing to take leadership roll for Board of Realtors

 

Roz Allemond President 2012

Elaine Setliff President Elect

Amanda Crooks, Secretary Treasurer

 

Jarred Walker, met him at Red River Bank’s Christmas party new agent with Century 21 Millennium. Paige Walker’s son was such an impressive young man I asked him to appear on show as guest sometime to share with us the adventure of young person’s entry into our business.  

 

Every Deal has a tale / tail

 

New restaurant: Susan Matthews represents tenant and Alvin Mykoff represented landlord. Sammy’s Southern Foods independently owned and either 19 or 20th location for New Orleans headquarters company. Oh yea location at former China Princess between Hertz rental and Security sporting goods.

 

 

Last Week’s mistake: Mentioned Brown and Brown Insurance building was formerly Alexander and Alexander Insurance. What I should have said it was the Alexander and Bolton Office since 1962. Opps, sorry thanks Martin Heyman for catching the mistake.

 

Rayford Office Building with 4 acres of land plus the jet air plane is for sale at $3,500,000. If there were ever a building that could brand a company this is the spot.

 

Before the last show this year I will have a segment for $1,000,000 deals closed this year. I will comb through approximately 2,000 closed transaction and pull out those deals north of $1,000,000.

 

Carich Investments, LLC David Carlton (218 West Lauren St., Alex., LA 71303) to Daniel Lester, DDS (1431 Peterman Dr., Alex., LA 71303) - Part A of Lot 31, Metroplex Subd. (1431 Peterman Dr., Alex., LA 71303), $208,067.07. This appears to be location where Dr. Lester must have been leasing and now is buying from his landlord who is local oral surgeon.

 

Super 10 closing across from entrance to Louisiana College and I thought is was closing due to new Dollar General but have discovered that they are closing three store this round all of which are in leased facilities. We manage this property made inspection yesterday and there is a real “Going out of Business” sale. Better hurry everything will be gone by Christmas or sooner.

 

None of your business motel adjacent to Holiday Inn express is now under construction do not know which “Flag” it will fly.

 

Bayou Rapides just prior to Country Day school on same side of the road (formerly Blackie Vandersypen I do believe) what is being built here? Wonder no longer you heard it here first Ronnie Rayburn local utility contractor all around great fellow is building stables for his horses and bet he will later build his home on this site.

 

$2.5 million dollar price reduction. Dennis Miller’s home in Montecito, Ca. has been reduced from $17.5 million to $15 million go on line to CB Previews International in Montecito, Ca. if you are interested and then call me I will draft the buy and sell.

 

4th house this quarter to sell at or near $1,000,000 (2 this week)

 

Diane C & Craig W Hamilton to Hallie N & Christian J Wold - 2.856 acres in Sec 43, T3NR1W, et al, $1,250,000.00.

 

David R Gilchrist (1500 Hwy. 456, Lecompte, LA 71346) to Darren J & Maria J Olagues (6321 Audubon Oaks Dr., Alex., LA 71303) - Lots 19 & 20, Timber Trails Subd., Unit 7, et al (6220 Tennyson Oaks Lane, Alex., LA 71301), $800,000.

 

Both of the other homes were on or near horseshoe drive. Dr. Drury home and David Walker’s home

 

Construction Contracts:

 

$629,150 was the low bid for addition and renovation to Rapides Parish Sales and Use Tax Office. Larwood Construction LLC low bidder. Same Police Jury agenda there was a motion to advertise for lease vacant space at 5610-E Coliseum begs the question why do they need to expand and yet have vacant office space for lease. I am sure there is a good answer probably not located next door, too small etc.

 

All-Star automotive Chrysler / Dodge/ Jeep dealership on highway 28 West under construction.

 

 

(+3)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. Only the measurement of lot sale ranked positive score and random sales one scored positive the other negative.

 

Governor Roemer’s focus group study showed attitudes were best in the week that LSU and the Saints won. Well folks in the state should be happy this week Saints win 4th in a row and LSU is undefeated. If you live in Winnfield area bet you can barely sleep with Winnfield tigers on the way to Mercedes-Benz dome for State Playoffs. Last time Winnfield football team was in the playoffs was 1982. I was 32 years old then.

 

Legal recorder data for five business days from November 28th through December 2nd

 

(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 $4,629,866 only 26 sales, just three homes totaled $2,605,000 ($555,000 in Tennyson Oaks, $800,000 in Tennyson Oaks, and $1,250,000 on Horseshoe Drive) or 56% of total sales.

 

 

(-1) Random sales comparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.

 

Roderick E Adams, Jr., et al (307 Iris Park, Pineville, LA 71360) to Vaamana, LLC (5114 Mallard Dr., Alex., LA 71303) - Lot 5, Blk 2, Shirley Park Subd. (3424 Prescott Road, Alex., LA 71301), $54,350.00. Very few sales in past three years in Shirley Park but average price is $71,450 the sale we are tracking this week is $54,350 for negative score.

 

Richard C & Sheila D Rhea (22743 Alabama Hwy. 55, Andalusia, AL 36420) to Ian J Stilgoe (224 Southland Road, Alex., LA 71302) - Lot 79, Chandler Park, et al (5608 Mildred Ave., Alex., LA 71301), $169,900.00. average price last year was $140,433 and this year $175,600 the sale we are tracking this week is $169,900 for negative score.

 

(+1) New Home sales: Looking for a single sale this week for positive score the market gave us one

 

Three B Construction, LLC (P O Box 2167, Prairieville, LA 70769) to Cam C & Whitney J Hallman (356 Moss Point Dr., Lot 42, Boyce, LA 71409) - Lot 54, Shadow Creek Ranch (341 Shadow Creek Ave., Pineville, LA 71360), $159,900.00

 

(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us one

 

L.A.W. Three, Inc. (8164 Titleist Dr., Pineville, LA 71360) to Kerry D & Frances L Youngblood (8170 Titleist Dr., Pineville, LA 71360) - Lots 19 & 20, Timber Trails Subd., Unit 7, $10,000.00

 

(+1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave us zero

 

Interest Rates: 30 year fixed is 3.99% was 4.04% the 15 year rate is 3.36% was 3.40%. 5/1 ARM is 2.92% was 3.00%.

 

 

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