Rod's Notes

Rod's Notes For Wednesday 03/28/12


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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).

 

People not properties:

 

Charles Hickman long time Realtor passed away this week, Mr. Hickman was the first broker I had a cross sale with back in 1971.

 

Rose Steepleton I was her chauffer last week to New Orleans and back same day to attend Latter & Blum awards banquet. Out of 1,250 agents Rose was number 8, easy spin for me Rose is solidly in top ten for 1,250 residential agents in the Gulf Coast. Latter & Blum gave annual award for smallest deal $526 bid at lender sale and $3,250,000 home on St. Charles.

 

Scott Newcomer talked with him at Banc Corp South open house on Jackson Street (beautiful building) and discovered he is now with Banc Corp South as commercial loan officer. Scott is a great young man and top notch banker.

 

Representative Lance Harris for legislation to address air condition theft, this is a major problem with property management. We lose an AC unit at least once a month.

 

Mayor Roy story at Diamond Grill with Newt Gingrich and the phone call that Mayor received and the call Newt made.

 

Jordan Egg Farms from Dodson kudos for 5,400 egg donation. (that’s like 450 dozen). Riddle if dozen eggs cost 12 cents what would you pay for 100 eggs at the same unit price. .

 

Announcements, Attachments and Travels:

 

The past two weeks have been beautiful days to walk the Kistachie Forest only once in 7 trips have I seen anyone from Central La. Dr. Trey Guillory and two of his friends on mountain bikes. Wish I had time and talent to pen a description of the difference and beauty in changes with fresh green colors from the harbinger of spring.

 

Last Thursday I was in Natchitoches last week with client / property owner and could not believe the flood water. Went back Saturday for early diner with my wife and after two days it was worst in some areas. Talked with Randy Ziegler owner of Wildwood Lodge and lake water is coming over top of the damn and 45 days ago lake was down 12’.

 

LRA PAC fund raiser this Thursday at Malady House on England Drive.

 

Nickname change form attached next year want to mount an April Fool Fax plan everyone send in name change to La. Real Estate Commission.

 

Every deal has a tale / tail:

 

Large home on Heyman Lane sold: Scott Financial Services, LLC (1000U S Hwy. 165, Monroe, LA 71203)  - Los 47 & 48, Charles Park Ext., Phase II, $700,000.00. This was formerly Jack Courtney’s home on Heyman Lane. Rose Steepleton had double bubble here.

 

Three acreage track sales this week

 

Bubenzer Properties, LLC (133 Hwy. 1177, Bunkie, LA 71322) to Greenwood Planting Co. (P O Box 48, Cheneyville, LA 71325) - 37.33 acres in Sec 20, 31, & 37, T1NR2E, $114,800.00 / 37.33 = $3,075 per acre

 

Day Timberlands, LLC (83 Appaloosa Trail, Texarkana, AR 71854) to Trustland, LLC (5615 Jackson St., Bldg. L, Suite D, Alex., LA 71303) - 80 acres in Sec 32, T1NR2W, $112,000.00 / 80 = $1,400 per acre

 

Jean E McArthur (5927 Dunraven Way, Golden, CO 80403) to David Y & Nicole F Lanclos (1381 Lake Dr., Woodworth, LA 71485) - 67.883 acres in Sec 11-14, T1NR3W, $128,977.70 / 67.883 = $1,900 per acre

 

Casco, LLC Camille Giordano (1405 Metro Dr., Bldg, I, Alex., LA 71301) to Donald Medica (406 Hartwood Dr., Alex., LA 71303) - E/2 of Lot 4, Blk 74, City of Alex. (925 Johnston St., Alex., LA 71301), $80,000.00. Downtown property with commercial tenant.

 

Sherrell D Bozeman (8517 Ridgemont Dr., Pineville, LA 71360) to Rantan Properties, LLC Randy Michiels (411 Vickie Lane, Alex., LA 71303) - Part of Lots 11 & 12, West Enterprise Addn. (1500 Yoist St., A & B, Alex., LA 71301), $4,000.00. Duplex on Yoist street behind post office, (share story on how we developed this)

 

Jamie Pools 5704 C Jackson street celebrated grand opening last week. They are located in same center that Subway occupies near ASH high school.

 

(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. 

 

Legal recorder data: five business days from time period of March 19th through March 23rdth.

(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 subdivision sales compared to averages for 2008, 2009, 2010, 2011, and year to date for 2012.

 

(-1) Total weekly volume was: $4,493,333 with 31 sales which rates a negative score.

 

March 22 Wall Street Journal article, headline reads “Spring salles get brish start as sector ceases to hold back economic recovery. Highlights from article include the following:

 

  1. Spring selling season seems to be off to its best start in 5 years.
  2. Decline in values nation wide has slowed its pace
  3. First time since 2005 investment in residential real estate including home building and renovation as contributed to US economy.
  4. Credit standards remain tight
  5. Not certain that values have hit bottom 11 million homeowners are upside down with value and mortgages
  6. Mild Mid West winter has shifted buyers timing and year end numbers may demonstrate these sales borrowed from April, May, and June
  7. “Housing Bottoming” is a new term and how housing stabilization could put recovery on more solid ground is still uncertain.

 

(+1) Random home sales for the week:

 

Gary A & Ashley R Moreau (4204 Earl Dr., Alex., LA 71303) to Walter B Ogorek (5263 Rue Maria Dr., Alex., LA 71303) - Lot 146, Fairfield Subd., Phase IV, $244,000.00 higher than 4 year average positive score.

 

2008 sales totaled 19 with average price of $195,526 lowest sale was $160,000 and highest sale was $250,000

2009 sales totaled 7 with average price of $213,414 lowest priced sale was $165,000 and highest price sale was $275,000

2010 sales totaled 9 with average price of $214,320 lowest priced sale was $166,000 and highest price sale was $307,000

2011sales totaled 8 with average price of $200,937 lowest priced sale was $147,500 and highest price sale was $222,500

2012 sales total year to date is one $244,000

 

 

Bruce C & Pamela A Freas (1003 Regal Manor Way, Sun City Center, FL 33573) to Tanya M Lockey (6016 Bocage Dr., Alex., LA 71303) - Lot 5, Live oak Subd. (116 Oak Run Trial, Ball, LA 71405), $210,900.00 positive score this year compared to average sales price on five deals in 4 years at $208,160

 

2008 sales totaled one at $195,000

2009 sales totaled zero

2010 sales totaled two with average price of $208,500

2011sales totaled one sale at $218,000

2012 sales total year to date single sale at $210,900

 

 

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

 

V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71301) to Kevin L & Stephanie L Kelley (713 West Pointe Dr., Alex., LA 71303) - Lot 355, West Pointe on the Bayou Subd., Phase XII (206 West Bronson Dr., Alex., LA 71303), $270,000.00.

 

Nationwide builder broke ground on fewer homes in February than January seasonally adjusted annual rate of 698,000 starts. Permits for new construction, an indication of future activity, climbed to their highest level since October 2008.

 

Drive by reporters call in and give us update on Homebuilder Show turn out past week end.

 

(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us three and 100% were developer’s inventory.

 

Luneau Deville Properties, LLC (5028 Old Marksville Hwy., Pineville, LA 71360) to Darrel W Waites, Jr. & Jessica M Waites (290 Jerry Lofton Road, Pineville, LA 71360) - Lot 14, Stone Manor Subd., Phase II, $40,000.00

 

DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Bruce E & Kathy C Hamilton (292 Youngblood Road, Pineville, LA 71360) - 1 acre in Sec 44, T5NR2E, $23,000.00

 

V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Taylor H Vollman (4360Willowick St., Alex., LA 71303) - Lot 113, St. Andrews Linds Estates, Phase III, $30,000.00

 

 

Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave us two sales for volume of $129,000 / $4,493,333 = 2.87% of total rates positive score.

 

Homesales, Inc. (1400 East Newport Center Dr., Deerfield Beach, FL 33442) to Sarah E Newman (37 Beaubouef Loop, Deville, LA 71328) - 1 acre in Sec 2, T4NR3E (37 Beaubouef Loop, Deville, LA 71328), $82,000.00

 

U S Bank (4801 Frederica St., Owensboro, KY 42301) to Joseph P & Kathryn A Landreneau (6919 Isabella Dr., Alex., LA 71301) - Lot 15, Blk 7, Penny Acres (6919 Isabella Dr., Alex., LA 71301), $47,000.00

 

Louisiana's delinquency fell 0.39 points on the month to 6.36%, while the U.S. delinquency rate slipped 0.59 points to 7.24%. This is the percentage of home loans more than three months past due.

 

Lender sale to Freddie Mac what does that mean to the market?

 

J P Morgan Chase Bank (415 Vision Dr., Columbus, OH 43219) to Federal National Mtg. Assoc. (2001 Bryan Tower, Suite 1200, Dallas, TX 75201) - Lot 146, Sherwood Forest (161 Robin Hood Road, Dry Prong, LA 71423), $238,000.00

 

Interest Rates: 30 year fixed is 4.02%was 4.05%the 15 year rate is 3.24%was 3.27% 5/1 ARM is 2.88% was 2.90%.

 

Mortgage activity for the week: Total mortgage loans were 55 loans with volume of $8,134,260 / $4,493,333 total sales = 1:81 ratio loans to sales activity.

House hunters' first impressions are as important as price, survey says:When going through the process of searching for a new home to buy, square footage, layout and price are important, but most Americans are apparently relying just as much—or even more—on intuition and their first impression of prospective homes. That's according to a new study out today from Coldwell Banker Real Estate, in which 62% of women and 61% of men say they know within the first visit of a home if it's right for them. Also, 28% of women and 25% of men say they actually put more emphasis on how they feel about a home than they do on other more tangible specifics. The survey, which entailed phone interviews with 1,000 men and women from across the United States, also sheds some light on the roles men and women are playing at home—and shows some generational variance in attitudes. For example, 54% of women say they take the lead when it comes to decorating a home; however, younger men are playing a larger role in those decisions than do men in their fathers' or grandfathers' generations. While 48% of those younger than 44 say the decorating decisions are made mutually, just 36% of those over 55 say the same. As for the kitchen, 68% of women say they are the "primary chef" for the household, while 23% of men say the same

U.S. consumer confidence falls in March: After soaring in February to highs not seen in a year, consumer confidence in the U.S. economy fell back to earth in March amid higher gas prices, according to a private research group. The Conference Board says that its Consumer Confidence Index fell to 70.2, down from a revised 71.6 in February. That still beat economists' prediction: Those surveyed by FactSet had expected a reading of 70. Consumer confidence has made a recovery since it fell to an all-time low of 25.3 in February 2009. But the March reading is well below the 90 reading indicating a healthy economy. The index hasn't been near 90 since December 2007. Economists watch consumer confidence closely because Americans' spending on things from clothing to health care accounts for about 70% of the nation's economic activity.

 

God Bless America!

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