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:
People not properties:
Sidney Gremillion guest today: Sidney is project manager for Horseshoe and Masonic development.
Martin Johnson has left Regions bank to start his own consultant business. Martin will be successful with anything he does, keep your eye on this young man.
Rick Ranson: Kudos for job well done 4 days to put on job fair for unknown company turn out of 400 plus applicants and client said initial screening demonstrated there were enough qualified applicants to handle the account. Rick gave community credit for promotional push,.
Debra Randolph kudos for “Hero Job Fair” this week at England 90 employers registered for booth space. Jobs is what drives any economy, quality of life, infrastructure, political leadership all help but jobs is everything to growing economy and the blame for declining communities.
Kudos to Coach Charles Smith for his 800th win as basketball coach.
Jim Hurst kudos for saving Shiloh Baptist church, Jim is same guy who built his personal loft in upstairs portion of former Hills / Harris warehouse at 16th and Washington.
Azalea Trail recognized by National Geographic but nearly ignored by our neighbors. I walk the trail 20 plus times per year and rarely see any one from the center of my universe. Tell story of married couple on picnic early Sunday morning.
Every Deal has a tale / tail:
With only dozen transactions no deals to report but encouraging amount of construction activity which includes but not limited to the following:
1. OK Allen Bridge
2. Candle Light Hotel
3. Masonic Mid State Orthopedic Clinic and Bart Jones rehab
4. Completion of 96 units for Magnolia Trace
5. Arbor Hills on Shamrock 57 elderly apartments (need to stop by and see how the hill and valley is being reshaped)
6. Burger King on 28 East in Pineville
7. Completion of new Dollar General on Main Street in Pineville
8. Drive by reporters call in what I have missed.
(+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.
Legal recorder data for four business days with Monday being MLK holiday activity is from January 16th to January 20th.
(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, 2010, and 2011 that demonstrate price direction.
(-1) Total sales looking for 40 closed deals from previous week market provided volume of $992,000 for only four days with MLK Holiday first time ever volume has been under $1,000,000 only 12 transactions.
American home sales rose in December to the highest pace in nearly a year. The gain coincides with other signs that show the troubled housing market improved at the end of 2011. Still, sales remain depressed and ended the year well below healthy levels. The National Association of Realtors says home sales increased 5% last month to a seasonally adjusted annual rate of 4.61 million. For the year, home sales totaled only 4.26 million, up from 4.19 million the previous year less than 2% increase. In 2005 the peak of the boom we saw 7.1 million home sales economists equate healthy market at 6 million we are off that pace by 23% even with third month of increased sales. Conditions are in place for further gains this year prices have declined, interest rates have never been better, little competition in new home construction, supply of homes is at 7 month absorption rate, hiring has improved and layoffs has slowed sharply. Long way to full recovery but I hope we have seen the worst.
(+1) Random sales comparison: We track average sales price in certain subdivision for 2008 through 2011 and compare it to a sale this.
Christopher P & Rhea R Dugas (P O Box 4185, Pineville, LA 71360) to James A & Mallory R Tullos (5708 Whispering Pines Loop, Pineville, LA 71360) - Lot 39, Whispering Pines Subd., $161,500.00. Positive score above 2011 average.
Since 6-2008 there have been 21 sales in Whispering Pines with average sales price through 1-2012 being $146,159. The lowest price sale was just below $80,000 and the highest close to $167,000.
2008 there were 4 sales with average price of $147,478
2009 there were 6 sales with average price of $135,394
2010 there were 7 sales with average price of $132,420
2011 there were 4 sales with average price of $154,375
Joseph J Turioscy, Jr. (2024 Shannon Road, Alex., LA 71301) to Amber W Hively, et al (1621 Hyland Park Dr., Pineville, LA 71360) - Lot 69, Fourleaf Village (2024 Shannon Road, Alex., LA 71301), $110,000.00. Only 3 sales in past four years average price $102,000 positive score for the week.
(+1) New Home sales: Looking for a single sale this week for positive score the market gave us one sale
Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) to Elizabeth J Griffin (29 Ragan Dr., Alex., LA 71303) - Lot 250, Bocage Subd., Phase V, $226,500.00
2011 was the 3rd straight year of dismal home starts. The worst year on record for single-family home construction
(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us eight.
Weilland Entrprises, LLC (316 Johnson St., Alex., LA 71301) to V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) - Lots 101, 113, 114, & 115 St. Andrews Links Estates, Phase III, $120,000.00. Four lots in Saint Andrews to local builder see attachment for V&V builders 2011.V&V sold 26 new homes in 2011 and absorbed 17 lots from their own inventory. V&V 2011 activity 23 new homes for 2011 of total 16 were in Bocage, 5 in West Pointe, 1 in Woodlake, and 1 in Saint Andrews. Thy absorbed 17 lots from their own inventory (see attachment for details)
Trustland Mtg., LLC (5615 Jackson St., Building L, Suite D, Alex., LA 71303) to Terry S Mayo, Jr. & Elizabeth A Mayo (888 Philadelphia Road, Deville, LA 71328) - 1 acre in Sec 4, T4NR2E, $17,500.00
LA Conference Center of the United Methodist Church (2350 Methodist Parkway, Woodworth, LA 71485) to Roy O Martin Lumber Co., LLC (P O Box 1110, Alex., LA 71309) - Lot 125, Country Club Place Subd., Phase 6, $50,000.00
Bradley K Rushing, et al (4300 Overview Dr., Pineville, LA 71360) to Brian W Brandi S Nichols (370 Kings Dr., Pineville, LA 71360) - 2.24 acres in Sec 31, T5NR2E, $30,500.00
Ronald K Brown to A Dean Tyler (3786 Old Marksville Hwy., Pineville, LA 71360) - 1 acre in Sec 39, T4NR2E, $20,000.00
Richfield Subdivision lots are now listed at $39,900 very nice Pineville Development marketed by Susan Matthews and Bill Ellington.
(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave us $63,000 / $992,000 = 6.34%
U S Bank (4801 Frederica St., Owensboro, KY 42301) to ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) - 5 acres in Sec 25, T2NR4W (101 Havens Road, Elmer, LA 71424), $63,000.00
Interest Rates: 30 year fixed is 3.96% was 3.8% the 15 year rate is 3.28% was 3.22%. 5/1 ARM is 2.91% was 2.86%. Slight up tick in interest rates
The Federal Reserve has specified how it will begin signaling when its benchmark interest rate will rise and what the rate will be at points in the future. Four times a year, starting Wednesday, the Fed will show in a chart the year when Fed officials predict they will begin raising the rate. Another chart will show individual Fed members' predictions for the rate at the end of 2012, 2013 and 2014. More guidance on rates might help lower long-term yields further—in effect providing a kind of stimulus. Lower rates could lead consumers and businesses to borrow and spend more. The economy would likely benefit. The Fed has left its key short-term rate at a record low near zero for the past three years. In August, it said it planned to leave the rate there until at least mid-2013 unless the economy improved. Many private economists believe the rate is likely to remain near zero for longer than the mid-2013 target. Many are forecasting the first rate hike will not occur until sometime in 2014.