Rod's Notes

Rod's Notes For Wednesday 01/18/2012


Wednesday 1/18/2012

 

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).

 

Announcements, Attachments and Travels:

 

Hero’s Job Fair January 26th

 

Announcement Public meeting regard selling water to Texas from Toledo Bend Cypress Bend resorts January 12th. I called the owner of Wildwood Lodge for this report on the meeting. In attendance were approximately 200 emotional property and business owners. The proposal was tabled until state water study could be completed. My question is why we would sell our water to Texas when this is one of our State’s competitive edges to recruit industry.

 

Cypress Point sales study.

 

Attachment: Joan Manuel’s new Yoga Center 1205 Texas Avenue, opens February 1st.

 

People not properties:

 

Caller last week asked about former recreation facility that the Air Force owned at Cotile Lake: Update on that property Gary Barth and his partner have sold the property to someone who plans to build cabin to rent along with hook ups for RVs.

 

Jimmy Deramus second show was equally entertaining, support characters are really characters. Don’t miss a show Sunday night on History Channel at 9:00 pm.

 

Harry Silver happy 90th birthday party was at the Red Cross on second floor nice facility, great party, wonderful right of passage.

 

Harley rider on South Circle 10:00 pm Friday night my apology and what talent to ride by and swipe my side mirror.

 

300 Realtors and 50 have not renewed for MLS this year, next week after La. Real Estate Commission meeting I can share the state wide trend of licensees not renewing. This is an early 2012 sign that our business is not doing better.

 

Every Deal has a tale / tail

 

Stirling purchases Avant properties in Shreveport, La. Rod Noles put the transactions together, read press release below.

 

Mike Madsion retiring CEO at CLECO sells his home. Gnat Marks was listing broker. Michael H & Terri L Madison (6417 Genevieve Dr., Alex., LA 71303) to Robert L Chadwick, Jr. (5254 Rue Notre Dame, Alex., LA 71303) - Lot 117, Tennyson Oaks Subd., Phase VI (6417 Genevieve Dr., Alex., LA 71303), $520,000.00

 

Vaughn Flying Service, Inc., et al (6893 Bayou Rapides Road, Alex., LA 71303) to M & J Equipment Company, LLC (1320 Levin Gremillion Road, Plaucheville, LA 71362) - 13.08 acres in Sec 6, T1NR1E, $150,000.00

 

Thomas D Brasher, et al (476 Royale Park Dr., San Jose, CA 95136) to Crest Natural Resources, LLC (P O Box 6115, Alex., LA 71307) - 62 acres in Sec 21, T5NR1E, $87,000.00

 

(+1.50) 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 9th through 12th on Monday did not have sales for Friday 13th.

 

(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 33 sales with total volume of $3,394,064. First time we have seen volume under $4,000,000 I will continue to track this.

 

(+.50) Random sales comparison: We track average sales price in certain subdivision for 2008 through 2011 and compare it to a sale this.

 

Grimes Family Properties, LLC (901 Windermere Blvd., Alex., LA 71303) to Richard L & Danette U Cruz (5711 Carl St., Alex., LA 71302) - Unit 404-C, Cypress Point Condominiums (404-C Ansley Blvd., Alex., LA 71303), $145,000.00. This sale is lower than average for 25 condo sales thus negative rating.

 

Dustin M & Katherine M Lee (500 Jeffery Lane, Deville, LA 71328) to Bruce J & Amanda L Dubois (1477 Susek Dr., Pineville, LA 71360) - Lot 2, Holloway Heights (500 Jeffery Lane, Deville, LA 71328), $164,000.00. Average price in past three years is $159,719 only 4 sales but the one we are tracking is higher than average hence positive score.

 

(-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 two

 

Southern Heritage Bank (P O Box 8, Jonesville, LA 71343) to Melot Construction, LLC (115 2nd St., Colfax, LA 71417) - Lot 26, North Park Village, Phase 1, $12,200.00

 

Charles W & Loretta S Vollman (P O Box 12846, Alex., LA 71315) to Charles R & Charissa S Owens (5278 Bluebird Lane, Alex., LA 71303) - Lot 311, West Pointe on the Bayou, Phase XI (6425 West Morgan Dr., Alex., LA 71303), $52,000.00

 

(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave us four sales with a volume of $191,700 / $2,125,304 = 9%

 

The Money Shack, LLC (105 Bolton Ave., Alex., LA) to James D & Kristy R Watson (1328 2nd St., Pineville, LA 71360) - Lot 3, Tract 6, Stephens Revision, Sam Allen properties, et al, $13,500.00

 

LPP Mtg., Ltd. (6000 Legacy Dr., Plano, TX 75024) to Pennington Properties, LLC (P O Box 13742, Alex., LA 71316) - Lot 12 & 14, Sq 3, Valley Addn. (102 Hill St., Pineville, LA 71360), $24,000.00

 

Sabine State Bank (P O Box 670, Many, LA 71449) to Leslie A Lamartiniere (1702 Pierce Road, Alex., LA 71302) - Lot E, Bayou Oaks Subd., Phase II (77 Bayou Oaks Dr., Alex., LA 71303), $142,000.00

 

Southern Heritage Bank (P O Box 8, Jonesville, LA 71343) to Melot Construction, LLC (115 2nd St., Colfax, LA 71417) - Lot 26, North Park Village, Phase 1, $12,200.00

 

Interest Rates: 30 year fixed is 3.88% was 3.90% the 15 year rate is 3.22% was 3.23%. 5/1 ARM is 2.86% was 2.88%.

 

Large Mortgages

 

Antigua Investments, LLC Thomas Cupples, Jose Porras, and Bill Alllen (15358 Jackson St., Alex., LA 71301) to The Cottonport Bank (P O Box 5, Marksville, LA 71351) - Lots 1-12, Blk 4, Weil Co. Subd., et al (1101 16th St., Alex., LA 71301), $1,001,539.00. This is the Canterbury House at Washigton and 16th Street.

 

Rod Noles CCIM, CRE, CPM put the following deal together.

 

FOR IMMEDIATE RELEASE

MONDAY, JANUARY 16, 2012

CONTACT: BRIANNA MAHN

(985) 246-3732

bmahn@erastirling.com

 

Stirling Properties Expands Presence in Northwest Louisiana by Acquiring Avant Properties

SHREVEPORT, LOUISIANA (JANUARY 16, 2012) – Stirling Properties announces the acquisition of Shreveport, Louisiana based Avant Properties in an agreement that was finalized earlier today. The acquisition of Avant Properties further strengthens Stirling Properties’ presence in the Gulf South and is a critical step in their long term strategic growth plans. Avant Properties’ current personnel and portfolio will be integrated into Stirling Properties operations. Marty Mayer, President and CEO of Stirling Properties, said “Avant Properties’ excellent reputation and client-focused services are synergistic with our company and, just as

Important, their signature managed properties and local brokerage presence will strengthen our service offerings in northwest Louisiana.”

 

Typically known for developing and managing several successful shopping centers in the Shreveport/Bossier City region, Stirling Properties’ purchase of Avant Properties expands the company’s office and retail management portfolio, which now includes two of the most prominent high-rise office buildings in the Shreveport Central Business District, Chase Tower and American Tower, along with Pierremont Mall, Shreveport’s landmark retail destination and first mall. The combined portfolio of over 14 million square feet makes Stirling Properties the largest management and brokerage firm in the Shreveport/Bossier City region.

 

The founder and sole owner of Avant Properties, Keitha Avant Marcotte CCIM, SIOR, believes that aligning with Stirling Properties will provide a higher caliber of service to existing and future clients. “Stirling Properties is a very strategic and forward thinking company. The resources they offer our brokers and property  wners will enable us to take our client services to a new level. I am so proud of my team and find it very gratifying that our work was noticed and appreciated by Stirling.”

 

“This alignment reinforces Stirling Properties’ commitment to personally invest in the markets we serve and provides an even stronger base of operations in northern Louisiana on which to build,” concluded Mayer. For commercial real estate needs in north Louisiana contact Stirling Properties at their new Shreveport office located at 401 Market Street, Suite 160 on the ground floor of American Tower, or call (318) 797-4393.

 

About Stirling Properties

A member of the Retail Brokers Network, Stirling Properties is a regional real estate firm offering comprehensive services in development; commercial brokerage; property and asset management; investment sales; and property owner and tenant representation. Stirling Properties’ portfolio includes 14 million square feet of managed property and 60 million square feet of commercial properties for sale or lease. With offices located in Jackson, Mississippi; Baton Rouge, Lafayette, New Orleans, Metairie, Covington, Hammond, and Shreveport/Bossier City in Louisiana, Stirling is one of the largest real estate firms in the Gulf South.

Central Louisiana Board of REALTORS®, Inc Rapides Parish Residential Sales

 

 

                                                                YTD, 2011                            YTD, 2010                                            YTD, 2009

Total # Sold                                                     875                                         914                                                          911

Median Sold Price                             $139,900                              $137,750                                                $142,000

Median SP/SQFT                                      80.91                                    81.73                                                       83.20

Average Sold Price                            $152,755                              $146,625                                               $152,105

Average SP/SQFT                                     77.30                                     78.19                                                      78.29

Average DOM                                                 98                                           99                                                            96

 

 

 

 

Grant Parish Residential Sales

 

                                                                YTD, 2011                            YTD, 2010                                            YTD, 2009

Total # Sold                                                      105                                          76                                                          101

Median Sold Price                             $115,000                              $116,500                                               $104,000

Median SP/SQFT                                       71.67                                     66.21                                                            86

Average Sold Price                           $110,108                             $112,662                                             $105,182

Average SP/SQFT                                     67.23                                      66.21                                                    69.43

Average DOM                                                104                                          119                                                          86

 

 

Avoyelles Parish Residential Sales

 

 

                                                                YTD, 2011                            YTD, 2010                                            YTD, 2009

Total # Sold                                                        86                                          87                                                          69

Median Sold Price                                $78,250                                 $78,000                                                $88,000

Median SP/SQFT                                      46.79                                     48.11                                                     52.22

Average Sold Price                              $95,923                                 $85,282                                                $96,167

Average SP/SQFT                                     53.27                                     50.35                                                     52.68

Average DOM                                                  88                                         105                                                            74

 

 

 

Central Louisiana Board of REALTORS®

Absorption Rate Residential Sales

December 2011

                               

 

Currently, there are 710 homes for sale.

In the month of December, 103 homes sold.

In the month of December, 115 home came on the market.

 

Currently, there are 28 homes above $400.001 for sale.

In the month of December, Four (4) homes sold in this price range.

In the month of December, Two (2) homes went on the market in this price range.

 

Currently, there are 26 homes price between $300,001, and $400,000 for sale.

In the month of December, One (1) homes actually sold in this price range

In the month of December Six (6) homes went on the market in this price range.

 

Currently, there are 122 homes prices between 200,001 and $300,000 for sale

In the month of December, 16 homes actually sold in this price range

In the month of December, 18 homes went on the market in this rice range.

 

Currently there are 120 homes priced between $150,001, and $200,000 for sale.

In the month of December, 19 homes sold in this price range.

In the month of December, 29 homes went on the market in this price range.

 

Currently there are 158 homes priced between $100,001, and $150,000 for sale.

In the month of December, 21 homes actually sold in this price range.

In the month of December, 24 homes went on the market in this price range.

 

Currently there are 256 homes priced $100,000 or below, for sale

In the month of December, 42 homes actually sold in this price range.

In the month of December, 42, homes went on the market in this price range

 

Residential sold

Rapides Parish

 

December, 2011               December, 2010                 December, 2009                  

Total # Sold                                                   78                                           65                                             77            

Median Sold Price                          $139,500                              $126,000                                $150,000   

Median SP/SQFT                                    79.52                                    81.76                                        81.23                       

Average Sold Price                         $173,910                             $138,872                                    152,548

Average SP/SQFT                                   77.83                                    77.25                                         77.20                            

Average DOM                                            104                                           93                                               95                  

 

Thank You

 

Sonya Allen, e-PRO

Association Executive

Central Louisiana Board of REALTORS
Alexandria LA USA
tel (318) 473-8324 fax (318) 473-9735

God Bless America!

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