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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).
Guest today: J.J Keeth co-owner of Louisiana Properties Mossy Oaks. J.J is from Central La. now resides in Shreveport but handles acreage deals all over the state. Mossy Oaks granted only one franchise in state of Louisiana. J.J will be ready to take your calls after we come back from the first break
Attachments, Announcements, and Travels:
I was at LSU game with brother in law Lon Wilson and his two sons Lon and Brent. Saw good group of people from Central La. Ran into Kyle Wolfe State Farm agent from Bunkie and gentleman he was sitting with told me after our introduction that he listens to show each week. I was a little late leaving the game we were blocked by LSU team bus and they were slow in leaving someone had painted 50 yard line in front of the bus.
Sunday, we traveled to Wildwood lodge at Toledo to make facility inspection for Bruyninckx. Randy Ziegler manager and owner told us lake was down 12’ and this week there is public meeting at Cypress Inn on Thursday 12th at 6pm.
Announcement Public meeting regard selling water to Texas from Toledo Bend Cypress Bend resorts January 12th at 6pm
Note Alvin Mykoff absorption report, more about that as we move through the show.
People not properties:
Jimmy Deramus as the star of “Cajun Pawn Star” was a hit in my living room. I plan to watch every episode this is non fiction by design but very entertaining. Jimmy and his support crew really do have a good presence on TV. Remember 9 pm Sunday evening on the History channel, fun to watch and you have to be happy for Deramus family.
Every Deal has a tale / tail
Succn of James L DeKeyzer to Peter C DeKeyzer - Part of Lots 2 & 2, Brown Partition of Big Bayou, et al, $1,030,000.00
St. James Episcopal Housing Development Corp. to Antigua Investments, LLC - Lots 1-12, Blk 4, Weil Co. Subd., et al, $765,000.00
Number of License not renewing: This will give the best indication of what actual carnage was in our industry for 2011. Two sources one is local MLS how many of our 300 agents did not renew. Right now 50 have not paid MLS dues that represents 17% drop in our local membership. I predict the final number will be closer to 12%. Next Wednesday I will attend La. Real Estate Commission meeting and we should have early tally on how many licensed agents did not renew.
Mykoff Absorption Numbers for December
Supply number in Months Category Number listed number sold new on the market
7.71 All 773 95 97
6.75 Above $400k 27 4 2
29 $250K- $400K 87 3 11
6.13 $150K-$250 184 30 30
7.48 Under $150 434 58 54
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 January 3rd through January 6th, this is only 4 days of transaction with clerk of court closed on January 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 $4,537,270 with 32 transactions for negative scroe
(.50)Random sales comparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.
Billy M & Yarvetta S Singleton (505 Windemere Blvd., Alex., LA 71303) to Prudential Relocation, Inc. - Lot 295, Charles Park Addn. (505 Windemere Blvd., Alex., LA 71303), $170,000.00. Negative score lower than average for any of past three years.
Loretta A Ledoux (2336 Vance Ave., Alex., LA 71301) to Wasmer Properties, LLC (2001 Jackson St., Alex., LA 71301) - Lot 11, Sq 5, Hill Addn. (2336 Vance Ave., Alex., LA 71301), $71,500.00. Positive score higher than last year’s average not as high as 2008 average
(-1) New Home sales: Looking for a single sale this week for positive score the market gave us zero
(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us one
DONK, LLC (580 Hwy. 115, Deville, LA 71328) to Kayla M Youngblood & Bryan M Middleton (P O Box 364, Pollock, LA 71467) - 2.72 acres in Sec 21, T5NR1E, $63,800.00
(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave total volume of $758,765 / $4,537,270 = 16.72%
Deutsche Bank (9200 Oakdale Ave., 10th Floor, Chatsworth, CA 91311) to Mark A Gravel Properties (P O Box 5666, Alex., LA 71307) - Lot 12, Sq F, Martin Park, $65,635.00
Dept. of HUD to Linda J Verbridge (117 Wildwood, Pineville, LA 71360) - Lot 5, Woodland Heights Subd. (117 Wildwood, Pineville, LA 71360), $105,900.00
Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to Joseph C & Kimberly S Lacour - Tract in Sec 25, T2NR4W (396 Harper Road, Hineston, LA 71438), $67,500.00
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Archie Lambert, II & Sheryl A Lambert (508 Anderson Court, Alex., LA 71303) - Lot 69, Crossgates Subd., Phase IV (508 Anderson Court, Alex., LA 71303), $220,000.00
Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to Terry C & Sara K Iles - Lot B of a division of Blk 6, East Point Addn. (611 Fox St., Pineville, LA 71360), $75,000.00
LPP Mtg., Ltd. (6000 Legacy Dr., Plano, TX 75024) to Deepak & Rashmi Juneja (6414 Bayou Crossing, Alex., LA 71303) - Lot 301, West Pointe on the Bayou, Phase XI (6414 Bayou Crossing, Alex., LA 71303), $225,000.00
Interest Rates: 30 year fixed is 3.94% was 3.98% the 15 year rate is 3.28% was 3.29%. 5/1 ARM is 2.88% was 2.87%.