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http://www.catholicextension.org click on 2012 Lumen Christi award and vote for Manna House only organization other nominees are individuals if Manna House makes it to the final round and right now we are number 5 they win $10,000 if they are voted #no 1 they receive $24,0000. Since 1990, the Manna House has served over 3,000,000 meals to the poor, working poor, and homeless of all ages, ethnicities and religions in the Diocese of Alexandria, Louisiana. Open 7 days a week, 365 days of the year, the Manna House partners with local hospitals, grocery stores and schools to keep the pantry stocked. Eight staff members and hundreds of volunteers from a variety of faith traditions dedicate their time for this ecumenical effort, all united in a mission to serve their community.
Every deal has a tale / tail:
Reported this sale last week but did not know the user Plaza 28, LLC Jerome Karam (934 Third St., Alex., LA 71301) to BMS Holdings, LLC Luther Mount (3599 Monroe Hwy., Kingsville, LA 71360) - Lot 1, Plaza 28 Subd., $642,000.00. Lot size is 44,050 square feet approximately 169.26 x 260.21 or $14.57 psf being first lot on left as you enter Century Tel property. Maurice Hebert was listing agent and probably selling agent (plat attached to notes). This is healthy news for 28 West where last sale in Wal-Mart parking lot to Peoples Bank was $11.50 psf. same investor who developed car wash under the water tower in Kingsville. Ron Hebert also told me he has lot 1 under contract.
Eugene A Ledet, Jr. & Beverly E Ledet (5994 Stonegate Dr., Alex., LA 71303) to Pita Clientele, LLC (5803 Jackson St., Alex., LA 71303) - .37 acres in Sec 8, T3NR1W (5803 Jackson St., Alex., LA 71303), $121,900.00. Property located at 5803 Jackson Street.
Drive by reporters what is the new “Home Store” in Ashley Furniture shopping center?
Numbers from Real Estate Industry:
16.9% retail sector vacancy rate in 4th quarter per National Association of Realtors survey (The Economist March 31st)
People not properties:
Did anyone see Elaine Setliff on Jambalaya this week? I heard she did a great job please call in if you saw the interview and let’s brag on Elaine.
Announcements, Attachments and Travels:
New Orleans on Monday first solo trip with 2 year old grandson Noles, also attend commercial awards banquet for Latter & Blum at Emerils. Bob Merrick made interesting observation stating that 2010 was not a good year for largest real estate company in Louisiana but 2011 was much better and first quarter 2012 is up 30%. Mr. Merrick said commercial real estate is turning the corner.
Attachment of Rose Steepleton and me with Tennessee Williams last week
Owner of shopping center in Pineville where Super One grocery and K-Mart has changed their name from Centro Properties to Brixmor. Centro was sold to Brixmor in June they are second largest owner of shoppig center in United States with 585 properties and 92 million square feet of gross leasable area located in 39 states. www.brixmor.com is their website.
Dined at very cool Susie Spicer new restaurant in Lake View DoMo, great food, fun local place. This week in New Orleans is French Quarter festival and week after next is the beginning of Jazz Fest.
Tuesday spent the evening at Bayou Grand Noir B&B met with one of my students and local developer in Houma La. Got up at 4:45 am at 6:00 am traffic jam with commuter traffic into Lafayette from the south.
(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 April 2nd through April 9th carried over into this week because of Good Friday needed 5 days.
(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: $5,820,560 with total of 43 transactions largest sale was just north of $500,000 with home sale in Tennyson Oaks, next largest sale was $400,000 home sale in Timberlake.
Random home sales for the week:
Sheila S Ford (517 Versailles Blvd., Alex., LA 71303) to James D & Kathy D Lowery (211 Fendler Parkway, Pineville, LA 71360) - Lot 5, St. Charles Place, Phase V (517 Versailles Blvd., Alex., LA 71303), $212,500.00. See number below positive score based on historical comparison activity.
2008 closed transactions were 10 with total volume of $1,385,800 at average price of $138,580 lowest price $125,000 highest $220,000
2009 closed transactions were 8 with total volume of $1,080,300 at average price of $135,037 with lowest price $119,000 highest $195,000
2010 closed transactions were 6 with total volume of $767,900 at average price of $127,983 with lowest price $125,000 highest $136,000
2011 closed transactions were 5 with total volume of $692,750 at average price of $138,550 lowest price $112,500 to $206,000
2012 year to date one sale $212,500
Ryan C & Jillian L Donaghey (207 Iris Park Dr., Pineville, LA 71360) to Haden B & Michelle L Hobbs (181 Woodwind Dr., Pineville, LA 71360) - Lot 87, Woodlake Subd., Phase V-B, $249,900.00. Positive score with this sale being higher than average.
2008 closed transactions were 10 with total volume of $2,299,500 at average price of $229,950 lowest price $190,000 highest $260,000
2009 closed transactions were 10 with total volume of $2,205,000 at average price of $220,500 with lowest price $160,000 highest $252,000
2010 closed transactions were 7 with total volume of $1,519,900 at average price of $217,128 with lowest price $195,000 highest $240,000
2011 closed transactions were 6 with total volume of $1,436,900 at average price of $239,483 lowest price $230,000 to $248,000
2012 year to date 4 sales with average price of $214,850
(+1) Lot sales: To rank a positive score for the week the market needs one sale this week we witness 4 deals.
Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) to Joseph C & Julie R Lamartiniere (268 Cooks Point Dr., Boyce, LA 71409) - 4.6 acres in Sec 51, T4NR3W, $60,000.00
New Way Investments, LLC (1150 Expressway Dr., Pineville, LA 71360) to Timothy K Lair, et al (6107 Clarks Cr, Pineville, LA 71360) - Lot 2, McRichey Subd., $20,000.00
Sally C Moras, et al (1551 Texas Ave., Alex., LA 71301) to Inspirational Properties, LLC (6221 Cobblestone Dr., Alex., LA 71303) - Lot 36, St. Andrews Links Estates, Phase 2, $25,000.00. This sale is too low for arms length transaction.
Roy O Martin Lumber Co., LLC (P O Box 1110, Alex., LA 71309) to Robert B &Jennifer S Nichols (3300 Hoyt Road, Boyce, LA 71409) - 9.852 acres in Sec 10, T4NR4W, $24,630.00
(+1) New Home sales: to rank positive score need one sale last week market provided two
Weilland Enterprises, LLC (316 Johnston St., Alex., LA 71301) to John A Duck, Jr. & Martha M Duck (302 North Thirteenth St., Oakdale, LA) - Lot 3-A, The Village of Versailles Phase II-A (701Village of Versailles, Alex., LA), $185,000.00
Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71486) to Anna F & Jared D Parten (5908 Hannah Dr., Alex., LA 71303) - Lot 242, Bocage Subd., Phase V (5908 Hannah Dr., Alex., LA 71303), $220,000.00
(-1) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave us record 7 sales with volume of $693,530 / $5,820,560 = 11.91% call it 12% of total sales. Makes me wonder have we dodged the bullet as to bank foreclosures pressing home prices down. I think we have but too many more weeks above 10% level could prove wrong.
LPP Mtg., Ltd. (6000 Legacy Dr., Plano, TX 75024) to Georgia R Lyles (386 Hwy. 167, Cheneyville, LA 71325) - .86 acres in Sec 6, T1NR1E (386 Hwy. 167, Cheneyville, LA 71325), $36,100.00
Dept. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Creighton Doelling (2018 Polk St., Alex., LA 71301) - Part of Lot 6, Sq 54, Kilpatrick Addn., $21,000.00
Dept. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Brain C Register (1482 Booker Loop, Mansfield, LA 71052) - Tract in Sec 25, T4NR4W, $58,780.00
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to Rantan Properties, LLC (411 Vickie Lane, Alex., LA 71303) - Part of Lots 22 & 23, Blk A, L E Deselle Subd. (4107 Coliseum Blvd., Alex., LA 71303), $89,900.00
Deutsche Bank, et al (888 East Walnut St., Pasadena, CA 91101) to Joseph E Garrison, Jr. & Jacqueline D Garrison (4830 Florida Dr., Pineville, LA 71360) - Tract in Sec 39, T5NR1W, et al, $90,000.00
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to D & J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) - Lots 1-6, 10-13, 17 & tract A, Belle Chase Subd., $376,750.00. D & J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) to Sabine State Bank (3925 Jackson St., Alex., LA 71303) - Lots 1-6, 10-13, 17 & tract A, Belle Chase Subd., $381,571.85
The Peoples State Bank (880 San Antonia Ave., Many, LA 71449) to Lester P Mallette (2549 Monroe Hwy., Pineville, LA 71360) - Lot 10, Blk 4, Second Ext. of Judies Subd. (1732 Birkland Dr., Pineville, LA 71360), $21,000.00
What does a sale to Fannie Mae mean to investor looking at foreclosed properties?
Bank of America to Federal National Mtg. Assoc. - Lots 1 & 2, Sq 22, West Alex. Addn. (1502 Levin St., Alex., LA 71301), $32,000.00
Bank of America to Federal National Mtg. Assoc. - Lot 56, Whispering Pines Subd. (325 Lakeridge Trail, Pineville, LA 71360), $82,334.00
Wells Fargo Bank to Federal National Mtg. Assoc. (P O Box 650043, Dallas, TX 75265) - Lot 74, Westwind Subd., $104,667.00
Interest Rates: 30 year fixed is 3.89% as 4.03%the 15 year rate is 3.13%was 3.25% 5/1 ARM is 2.77% was 2.85%.
Mortgage activity for the week: 53 closed mortgage loans in past 5 business days with volume of $8,068,953 with closed sales of $5,820,560 = 1.39 ratio of mortgages to sales.