Wednesday 12/21/11

Rod's Last Show Of The Year

Go to:  www.rodnolespropertymanagement.com and click on radio notes and sign up to have them emailed each week. If you know of someone looking for rental space, apartments, homes, retail, office or industrial send them to www.rodnolespropertymanagement.

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).

People not properties:

Jamie Lemoine for filling in for me last week at time when there was La Real Estate Commission meeting which I decided at last minute not to attend.

Secretary of Economic Development for State of Louisiana willing be calling in this morning for his “year end report.”

Banc Corp South is not a person but their building lighting at night is nothing short of beautiful.

Roy O Martin’s Presentation to Rotary

Very encouraging comments regard Oil & Gas activity in our area

Great links regard oil and gas activity at Flatwoods

http://www.gohaynesvilleshale.com/group/tuscaloosamarineshale/forum/topics/indigo-bentley-lumber-34h-1-results

or

http://www.gohaynesvilleshale.com/group/rapidesparish/forum/topics/eagle-ford-in-rapides-parish?commentId=2117179%3AComment%3A2220852&xg_source=msg_com_gr_forum

Jimmy DeRamus “Cajun Pawn Stars” premiere will be January 8^th on History Channel at 9 pm. There is no doubt in my mind that this will be a “must see” show Jimmy DeRamus is one of most colorful local business men and show will be fun.

Pat Moore president elect for CABL, reminder CABL opposed four year status for LSUA so I am glad to see local leadership of that organization.

Attachments, Announcements, and Travels:

Birthday Present to Wife Marilyn took her to Saints / Vikings game in Minneapolis. Warmest weather in a Century had hoped to see snow instead people walking to the game in shorts. Highly recommend Ivy hotel downtown, skywalks are really neat. Three restaurants we can recommend Keyes for Breakfast, 112 Eatery www.112eatery.com and Zelo www.zelo.com . This my 5^th trip to Minneapolis one previous Saints game and three teaching assignments. Each time I have found the people to be truly “Minnesota Nice.” Front page of sports section for USA Today was photo and story of ULL game, behind with only 32 seconds remaining on clock and your guy kicks 50 yard field goal.

Fulton acres study sale since 1-1-08

Cobblestone study sales history since 1-1-08

Mykoff Absorption report.

            Total market 10.72 months supply 740 homes on market 69 sold

            Above $400,000 14.5 months supply 29 homes on market 2 sold

            $250,001 to $400,000 14.67 months supply 88 on market 6 sold

            $150,001 to $250,000 12.93 months supply 194 on market 15 sold

            Under $150,000 9.33 months supply 429 on market 46 sold.

Every Deal has a tale / tail

$70.1 Million expansion at Fort Polk huge news for our community.

          $27 million will buy 8,250 acres

            $9.2 million for new fire station

            $8.3 million for machine gun range

Said before on this show many times be careful what you trust when you see National numbers. Then last week NAR admits they over stated sales numbers, are we really surprised any way NAR can positively spin numbers.

            Local MLS comparing November average prices for that month to same time in previous years

            2009               2010               2011

            $135,643       $158,001       $147,745       Average Price

            74                    69                    52                    Units Sold     

Alexandria Inn, LLC, et al  to MIC Aex, LLC (202 W Superior St., Suite 321, Duluth, MN 55802) - Parcel J of Calhoun Commercial Park I, $9,000,000.00. Hampton Inn (land was purchased in May 2005 Paul Stich handled the transaction.) At $9,000,000 with 106 rooms that is $84,905 per key, and the buyer borrowed $7,700,000 which is 85% LTV or $72,641 per room. This sale will attract additional hotel development in the area.  

MIC AEX, LLC (202 West Superior St., Suite 321, Duluth, MN 55802) to Ladder Capital Finance, LLC (345 Park Ave., 8th Floor, New York, NY 10154) - Parcel J of Calhoun Commercial Park I, $7,700,000.00

BMS Holdings, LLC Luther Mount Leesville, La (3599 Monroe Hwy., Kingsville, LA 71360) to Sabine State Bank (P O Box 670, Many, LA 71449) - 1 acre in Sec 36, T5NR1E (3599 Monroe Hwy., Kingsville, LA 71360), $1,231,220.02. Sabine Bank has 11 locations in Rapides Parish now sure if this is new site but I cannot see Sabine paying $28 psf for land only. More about this sale next week

T D H Properties, LLC (3818 Bayou Rapides Road, Alex., LA 71303) to BP & RM Enterprises, LLC Randy Michiels (411 Vickie Lane, Alex., LA 71303) - Lot C, The Courtyard (5615-C Jackson St., Alex., LA 71303), $215,000.00. Corner office up front next door to Target Wellness on other corner and

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

Construction Contracts:

LA DOTD to Gilchrist Construction Co. - LA 107: Ruby Wise Elem.-Pine Grove Dr. road work, $2,694,823.90

LA DOTD to Command Construction Industries - Retainer contract for repair & replacement of guardrail in district 08, $438,774.00

Eagle Medical, LLC (3333 Drusilla Lane, Baton Rouge, LA 70809) to Salco Construction, Inc. (8484 Athens Ave., Baton Rouge, LA 70814) - Construct one 3,250 SF building on 2191 LA Hwy. 28 East, Pineville, LA 71360, $624,598.77

(4) 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.

Legal recorder data for five business days from December 12th through December 16th

(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.

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

Katheleen M Lacombe (634 Red Maple St., Coushatta, LA 71019) to David F & Cheryl R Pope (1319 Horseshoe Dr., Alex., LA 71301) - Lot 17, Cobblestone Village, et al (6053 Cambridge Dr., Alex., LA 71303), $155,000.00. This sale is below 2010 average of $177,000 and blow 2011 average of $159,000 for negative score.

Wilbert R & Ada F Bryant (126 Lenora Dr., Pineville, LA 71360) to Truitt L & Judith L Thompson (1615 Fulton Dr., Alex., LA 71301) - Lot 18, Fulton Acres, $285,000.00. Oly six sales since 1-1-2008 average price of $228,291 sale we are tracking this week is $285,000 for positive score.

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

Samson Construction, LLC (37177 Heritage Court, Geismar, LA 70734) to Robert M Espejel (P O Box 857, Ball, LA 71405) - Lot 12, Shadow Creek Ranch Subd., Phase I (314 Shadow Creek Ave., Pineville, LA 71360), $166,900.00

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

Henry H Bolton (P O Box 928, Lindale, TX 75771) to Allen D & Cynthia L Phillips (135 Will White Road, Mora, LA 71455) - 6 acres in Sec 6, T4NR5W (239 Will White Road, Mora, LA 71455), $45,000.00

Bartley Wright, et al (6176 Impatients St., Ellettsville, IN 47429) to Carl A & Charity C Buckley (132 Remington Road, Lockport, LA 70374) - 4.5 acres in Sec 5, T1NR3W, $13,000.00

(+1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave us three sales with volume of $177,400 / $4,571,218 = 3.88%

Gulfco of Louisiana (1505 10th St., Oakdale, LA 71463) to Ricky D & Dana M Elliott (P O Box 434, Forest Hill, LA 71430) - Tract in Sec 9, T1SR2W, $7,000.00

Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to Bobby G Dean, Jr. & Heather N Dean (240 Mosby Dr., Pineville, LA 71360) - Lot 28, Donahue East, First Filing (240 Mosby Dr., Pineville, LA 71360), $102,500.00

Dept. of HUD to K Pro Enterprises, LLC (5411 Coliseum Blvd., Alex., LA 71303) - Lot 130, Lebanon Subd., 5th Ext., $67,900.00

Interest Rates: 30 year fixed is 3.93% was 3.96% the 15 year rate is 3.28% was 3.30%. 5/1 ARM is 2.83% was 2.88%.

LLC: Who are you?

Two Mules,  LLC Ronald Sullivan, 868 Ridgeview Dr. Pineville (4020 Parliament Dr., Alex., LA 71303) to William C & Mary C Wiley (707 Lakeshore Dr., Pineville, LA 71360) - Tract in Sec 16, T5NR1W, $203,500.00