Rod's Notes

Rod's Notes For Wednesday 04/18/12


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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).

 

Every deal has a tale / tail:

 

Donuts shops are the theme this week.

 

Donuts, Coffee & Crème, LLC (6758 Dogwood Dr., Pineville, LA 71360) to Ed Bun & Mom Meang (2680 Bayou Pines Road, DeRidder, LA 70634) - Lots 13 & 14, Nine Oaks Subd. (4811 Hwy. 28 E, Pineville, LA 71360), $400,000.00. Donut shop across the street from Crest Industries on corner of Brown Lane and 28 East.  

 

Ed Bun & Mom Meang (2680 Bayou Pines Road, DeRidder, LA 70634) to Willie E Bailey, Jr. (6756 Dogwood Lane, Pineville, LA 71360) - Lots 13 & 14, Nine Oaks Subd. (4811 Hwy. 28 E, Pineville, LA 71360), $396,000.00

 

Starlight Donuts in Emerald Square, I promoted this location to Dunkin Donuts

 

New fast food on 28 West on pad site for former Century Tel property being marketed by Maurice Herbert.

 

308 acres sold for $520,285 Chris Naalbandian handle the sale on property located on highway 165 South. Sale document is attached. The buyer was Norm Thompson and seller was Camille Daspit Lacy and Renee Daspit Gremillion.

 

Cenla Physician Services, LLC James Patrick Taylor MD.  (P O Box 13590, Alex., LA 71301) to Foti Properties, LLC (3325 Giamanco St., Alex., LA 71301) - Part of Lots 8 & 9, Giamanco Heights Subd. (1211 Maddie St., Alex., LA 71301), $82,000.00.

 

Plans for new city fire station on 28 West will soon be out for bids. City owns 50% of parking area between National Guard and Coliseum with the Parish. I had hoped that they would build on Versailles in the Lake District but it makes sense to use your own property. Plan to make one last pitch for a trade.

 

People not properties:

 

Tracie H. Myers: Our daughter’s realtor in New Orleans: contact numbers are 504-512-2872 tracie.realtor@gmail.com. I wish we would have hired Tracie when Jenni and I purchased this condo in 2004. Great agent very poised and smart young business woman. If you are (1) selling property in New Orleans (2) moving to New Orleans (3) buying second home for yourself or university board child in New Orleans, give contact Tracie I guaranty you will be pleased and impressed. Thanks Tracie

 

James Greer is now officially Central La. Donald Trump. IN the past two weeks James has experienced some great ink in the Town Talk on his role as Pastor, developer for country club property, and partner with Richard Kyle on Cowboy Town. Should ask James to do the show when I am on the road but I might lose my spot for this Wednesday “fun time” All kidding aside open house at Cowboy Town was a great idea and except for grandson’s birthday party in New Orleans I would have been there. Listener question what was the name of former mascot for Cowboy Town. Town Talk article made James sound like Donald Trump when the reporter Jodi Belgard in writing about Village on the Green stated “it was valued at $1.65 million and Greer bough the subdivision for $700,000. James when on to praise development in Woodworth with new Caroline J. Dorman Junior High and brand-new Town Hall

 

Harry Silver had surgery for broken hip; we all wish him a fast recovery.

 

Alfred Mansour Town Talk announced he was partner with his cousin Jerome Karam on re-development of 43,000 square foot building and 15 acres of land at Plaza 28

 

Crest Industries now has 500 employees with $240 million in annual sales, not a person but a big part of our economic family here in Central La.

 

Kudos to Charles Elliott and his team for receiving #no 1 FBO in America award. Share story about Latter & Blum first visit to Alexandria.

 

Jeanette Dingeldein has been my executive assistant for over 35 years past several years came into the office once a day is hanging it up. Share story when air base closed.

Construction Contracts:

City of Pineville to KDC Construction Co., LLC - Street and drainage repairs on Live Oak Dr., Oakbrook Subd., $133,563.50

True Vine Missionary Church (831 Broadway Ave., Alex., LA 71301) to The Migues Deloach Co., LLC (2712 Davis Dr., Pineville, LA 71360) - True Vine Missionary Baptist Church In-Fill Project, $440,158.00

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to ACA Mechanical/Industrial, LLC (P O Box 6176, Alex., LA 71302) - Chiller replacement, Tioga Elementary School, $148,000.00

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to ACA Mechanical/Industrial, LLC (P O Box 6176, Alex., LA 71302) - Chiller replacement, Ball Elementary School, $148,000.00

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Mid-Western Commercial Roofers, Inc. (2235 Irvin Cobb Dr., Paducah, KY 42004) - Roof replacement at J B Lafarge Center, $61,720.00

Announcements, Attachments and Travels:

French Quarter Fest in New Orleans past week, Honey Island Swamp Band shouted out happy birthday to Noles on eve of his 2nd birthday. Weather was great, crowds were polite but too large for me, and music was world class talent all for free. Saw Brad and Mimi Kirzner at Stella’s in Jackson Square.

Next week in the beginning of Jazz Fest at the Fairgrounds

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 9th through April 13th (Monday will be double count this week)  

(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: Only 28 sales with volume of $3,142,388 for negative score

 

Memo from President of Latter & Blum

 

(-1) Random home sales for the week:

 

Glen Murphy, Jr. (4813 Whitehall Blvd., Alex., LA 71303) to Kathleen P Ribar - Unit 412-B, Cypress Point Condominiums, Phase D, Building 4, $158,500.00. Negative score lower than last year’s average.

 

2008 sales totaled 4 with volume of $908,805 an average sales price of $$227,201. Lowest price was $152,000 and highest was $332,000

2009 sales totaled 5 with volume of $762,000 an average sales price of $152,577. Lowest price was $142,500 and highest was $165,500

2011 sales totaled 6 with volume of $1,053,500 an average sales price of $175,000. Lowest price was $154,000 and highest was $245,000

2012 year to date 2 sales one at $145,000 and the other at $158,500.

 

Susan D Arnold, et al (1440B Louisiana Ave., New Orleans, LA 70115) to Doris S Williams (1602 McNutt Dr., Alex., LA 71301) - Lot 13, Sq 2, Plantation Acres (1602 McNutt Dr., Alex., LA 71301), $79,000.00. Plantation acres rates negative score based on this sale and downward trend in volume.

 

2008 sales totaled 9 with volume of $1,043,000 an average sales price of $115,888. Lowest price was $75,000 and highest was $156,500

2009 sales totaled 9 with volume of $1,136,648 an average sales price of $126,294. Lowest price was $80,000 and highest was $156,500

2010 sales totaled 3 with volume of $$324,975 an average sales price of $108,325. Lowest price was $80,000 and highest was $130,000

2011 sales totaled 2 with volume of $260,000 an average sales price of $130,000.

2012 year to date 2 sales one at $65,000 and the other at $79,000

 

(+1) Lot sales: To rank positive score need one sale market gave us only one sale

 

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 zero.

 

New home construction is improving but not nearly at 800,000 starts required to signal full recovery. Rents are higher, construction lending has improved, and looks like more homes will be built this year than at any point in past 3 ½ years. Seasonally adjusted annual rate of 747,000 permits as of March with 462,000 of those single family homes.

 

(-1) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave 7 sales with volume of $322,330 / $3,142,388 = 10.25% for weekly negative score. Volume of foreclosed sales as percent of total sales is beginning to cause me some concern.

 

Newbury Place Reo III, LLC (P O Box 517, Titusville, PA 16354) to John V & Gayle S Kinder (330 West Shore, Alex., LA 71303) - Lot 1, Blk N, Martin Park Subd. (3920 Kirkpatrick St., Alex., LA 71302), $86,500.00

 

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

 

Federal Home Loan Mtg. Corp. to Theresa Cull (1275 Susek Dr., Pineville, LA 71360) - Part of Lot 5, Blk 6, Thornton Place Addn. (1732 Thornton Court, Alex., LA 71301), $26,500.00

 

Capital One (7933 Preston Road, Mail Stop 31063-0220, Plano, TX 75024) to Mark A Gravel Properties, LLC (P O Box 5066, Alex., LA 71307) - Lot 4, Southfield Terrace (3049 Southfield Dr., Alex., LA 71301), $87,308.00

 

Federal National Mtg. Assoc. to Capital Realty, LLC - Lot 20, Sq A, Crawford Addn., $5,950.00

 

First South Farm Credit, ACA (2308 South MacArthur Dr. ,Alex., LA 71315) to Shelby F Sommers (200 Hardwater Lake Road, Pollock, LA 71467) - 2.16 acres in Sec 28, T5NR3E, et al (244 Hwy. 1206, Deville, LA 71328), $65,000.00

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Bonnette Investment Properties, LLC (3804 McKeithen Dr., Alex., LA 71303) - 5 acres in Sec 31, T3NR3W (365 Hwy. 1199, Elmer, LA 71424), $30,000.00

 

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.

 

Interest Rates: 30 year fixed is 3.86% as 3.92%the 15 year rate is 3.10%was 3.15% 5/1 ARM is 2.72% was 2.79%.

 

Mortgage of interest

 

Carlo J Spera Building Alexandria, LLC (5412 South Maple Place, Broken Arrow, OK 74011) to Bank of Oklahoma (3237 South Peoria Ave., Tulsa, OK 74105) - Lot 1, Bacon Place Addn., et al (3001 Masonic Dr., Alex., LA 71301), $525,000.00

 

Mortgage activity for the week: Total of 46 mortgage loans for volume of $6,615,924 / $3,142,388 sales volume or 2:11 ratio of loans to sales activity.

 

God Bless America!

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