Rod's Notes

Rod's Notes For Wednesday 05/23/12


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).

 

Sun rise quiz: Hay, art have you noticed give me a call if you know what I am talking about.

 

Every deal has a tale / tail: Orchard at Little Eva sells, lumber yard closes and beauty supply business moves in, new restaurant on highway 28 east, two existing business by adjacent property one of medical center expansion and the other for aftermarket in automotive business. Plus I need help on property under construction at south Masonic Drive.

 

The Orchard at Little Eva: approximately 178.22 acres sold last week to Albrittion Cattle Company for $853,920 this is $4,791.38 per acre call it $4,800. Jack Hodges was dual agent in this deal. If Jack is listening wish he would call in and tell us how many pecan trees. Jack sold Little Eva in 2010 for Gary Anderson to 7th resource LLC managed by partner Steve Couig. (head of economic development for Governor Roemer)

 

Michael R & Susan McNeal (34 Foxfire Lane, Alex., LA 71302) to Selah Beauty Corp. No Jin Park (4011 Lakeside Dr., Alex., LA 71302) - Part of Lot 16, Sec 1, Willow Glen Subd., et al, $300,000.00. The old McNeal Lumber yard next to Trade School will now be a beauty supply retail and wholesale facility open by industrious Korean immigrants. Paul Stich was on listing side and Jimmy Redfearin represented the buyer.  

Loan for this deal  Selah Beauty Corp. (4011 Lakeside Dr., Alex., LA 71302) to The Evangeline Bank (P O Box 346, Ville Platte, LA 70586) - Part of Lot 16, Sec 1, Willow Glen Subd., et al (4011 Lakeside Dr., Alex., LA 71302), $654,187.00

 

Mangel & Treadway, LLC Steve Mangel and Jerry Treadway(6031 Bayou Rapides Road, Alex., LA 71303) to Ray Hyde Paint & Body Works, Inc. (5716 Gene Ball Dr., Alex., LA 71302) - Part of Lot 1, Willow Glen Land Co. Subd. (5644 Gene Ball Dr., Alex., LA 71302), $80,000.00. Always good news to see existing business expanding. I think Matt Ritchie’s company handled this.

 

JEC Real Estates Investments, LLC (3003 Old Forge Dr., Suite B, Baton Rouge, LA 70808) to KDBPG, LLC Michael Kimble and Robert Gunby(10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) - .74 acres in Sec 7, T4NR1E, $475,000.00. This is the former Hickory Hut at corner of Rainbow and highway 28 east. Looks like new restaurant to me and I think this is Matt Ritchie’s sale.

Loan for this deal KDBPG, LLC (10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) to Sterling Bank (P O Box 460, Poplar Bluff, MO 63901) - .74 acres in Sec 7, T4NR1E (3002 Hwy. 28E, Pineville, LA 71360), $870,000.00

 

Life Center, LLC Dr. Howard Wold (605-B Medical Center Dr., Alex., LA 71301) to White Oak Centre, LLC Dr. Bill Patty, Dr. Michael Redmond,Dr. Thomas Norton, Dr. Karen Russo, and DR. Eric Reish (231 Windermere Blvd., Alex., LA 71301) - Tract in Sec 28, T1NR4W, $527,315.62 total of 84,370 square feet or $6.25 psf for 1.94 acres fronting Windermere 210.56’ with 420’ depth.

 

Drive by help on Masonic drive: right hand side going south just outside the city limits looks like commercial or industrial building under construction. What is this? 442-8255

 

People not properties:

 

Thanks to men and women who have worn our country’s military uniform and for the personal risk they take to make our country so very special. To the families that are separated during deployment and love ones who visit the cemetery this week end our prayers are with you.

 

Candice Skinner young Realtor from Leesville was selected by National Realtors Association as “Top 30 under 30” See attached story from Jeff Matthews (can’t read TT on line but you can read my attachment, hope they do not sue the station) Reminder we interviewed Rob Hatchett president of (cry-Like realty) who won this award couple years back. Rob is still young and still very impressive.

 

John W & Janet M Moore (281 Coleman Loop, Homes, LA 71040) to Philip A Cole, II & Kimberly P Cole (6520 Tennyson Oaks Lane, Alex., LA 71301) - Lot 38, Tennyson Oaks Subd. (6520 Tennyson Oaks Lane, Alex., LA 71301), $421,000.00

 

Barry Schaps Vice President in charge of making the $450 Million dollar bio fuel plant a reality. http://www.centrallouisiana.org/ you can register for updates on Sundrop Fuels might be an interesting way to follow their development. Zero press was in attendance at quarterly meeting where Sundrop discuss size, scope, and process of first 50 million gallons per year 87 octane gasoline refinery.

 

Thanks to the horse, I’ll have another for allowing racing fans to dream about a “triple crown” champion. We will find out on June 9th if Affirm from 1978 will no longer be the last horse to win the “triple crown”

 

Olympic torch has begun it’s run to 2012 Olympics and I would like to thank Cenla Broadcasting for choosing our daughter to carry the torch for Atlanta Olympics. Share buy the torch story and Okinawa story.  

 

Razor’s Edge: Parting shot is what I plan to call this segment and in the future will make it my last comments of the week. This week barber shop news is too serious to take a chance on running out of time. Free junior golf lessons at Bringhurst Tuesday and Wednesday mornings 8:30 to noon starting June 5th through July 25. Ages 8-15 call Scott Brame 487-6591 or email him at scottbrame@suddenlink.net. Just wish we could get a family involved that knew something about golf. Thanks Mr. Brame.

Construction Contracts: City of Alex. to Progressive Construction Co., LLC - Masonic Drive @ Horseshoe Dr. Intersection Improvements, $236,342.15

Announcements, Attachments and Travels:

Startup week end June 1st through 3rd call 442-6671 if you want to participate. This is smallest market where this opportunity has been offered.

La. Real Estate Commission Report

Licensee counts for past 6 years: in past 7 years there has been net loss of 4,361. Currently 3,359 have inactive license active sales license is 9,088 for state of Louisiana.

2007               22,712

2008               22,189

2009               21,225

2010               19,784

2011               19,215           

2012               18,351                       

(+3.75) 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 May 14th to May 18th. I have eliminated the random subdivision study as one of my five food groups and now only measure 4 allowing 1.25 points for each positive score. Have also eliminated mortgage volume for the week, and will remove both of these sections from my weekly transcripts. If you were using this data please email me and if enough folks want to continue research in this category I will consider putting the data back in my notes.

 

(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.

 

Total weekly volume was:   $5,509,827 even with 38 sales this test rates negative score especially with 3 sales under $5,000. Good week but negative score I am reaching for 40 closed deals.

 

(-1.25) Lot sales: To rank positive score need one sale market gave us zero sales for the week, hence negative score of 1.25

 

(+1.25) New Home sales: to rank positive score need one sale last week market provided

 

Thomas Bolton Properties & Construction, LLC (4821 Porter Circle, Alex., LA 71303) to Emily D Tracy (5842 Hannah, Alex., LA 71303) - Lot 240, Bocage Subd., Phase V (5842 Hannah Dr., Alex., LA 71303), $220,000.00

 

V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Robert A & Becky D Burke (208 West Bronson Dr., Alex., LA 71301) - Lot 356, West Pointe on the Bayou, Phase XII, $282,000.00.

 

Commerce department said construction starts on new housing jumped 2.6% in April to an expected annual start of 717,000

 

The Linc Group, LLC (P O Box 4769, Pineville, LA 71360) to Erin L Duplechien (3018 Wesley Circle, Woodworth, LA 71485) - Lot 134, Country Club Place Subd., $257,000.00

 

(+1.25) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, total number of sales for the week was 4 with total volume of $311,400 / $5,509,827 = 5.65%

 

U S Bank to Blackmon & Clanton Developments, LLC (8400 Hwy. 28 East, Pineville, LA 71360) - Lot 3, Sq 4, North Highland Subd., Part 1 (1807 Georgia Dr., Pineville, LA 71360), $44,000.00

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Thomas Wells (1723 Donegal Dr., Alex., LA 71301) - Lot 30, Sq C, Roy O Martin Subd., et al (3120 Houston St., Alex., LA 71301), $22,000.00

 

Dept. of HUD to Millie D Laird (4209 Pecan Dr., Alex., LA 71302) - Lot 3, Blk D, Thiels Place Addn., Ext. # 1, $95,500.00

 

Credit Savers, LLC (P O Box 12354, Alex., LA 71315) to Don W Reed, Jr. (165 Sequoa St., Chester Gap, VA 22623) - Tract in Sec 1, T1NR1W (2911 Hwy. 112, Lecompte, LA 71346), $149,900.00

 

At the end of March 11.8% of all mortgage loans nationwide are 30 days past due or in foreclosure this is better than peak of 14.7%. some 4.4% of all mortgages are in foreclosure down only slightly from 4.5%

 

Interest Rates: 30 year fixed is 3.79% was 3.75% the 15 year rate is 3.11% was 3.02% 5/1 ARM is 2.67% was 2.66%.

Investor sales

 

Dillon W & Sara R O'Brien (5999 Fleming Road, Atwater, CA 95301) to Lizbeth Properties, LLC William and Elizabeth Carstens(1438 Dorchester Dr., Alex., LA 71301) - Lot 17 & part of 16, Sq 2, Highland Park Addn. (2917 Dawkins St., Alex., LA 71301), $113,500.00

 

James W Brown, Jr. (293 Rosalie Road, Alex., LA 71302) to Mark A Gravel Properties, LLC (P O Box 5066, Alex., LA 71307) - Lots 9 & 10, Blk 6, Shirley Park Addn., et al (1904 Andrews St., Alex., LA 71301), $75,000.00

 

Triad Dominion Equities, LC (1112 E Copeland, Suite 230, Arlington, TX 76011) to WFH Consulting, LLC (1219 Wyndham Hill Lane, Southlake, TX 76092) - Part of Lots 160 7 161, 2nd Rev., Ext. # 4, Phase I, Kellyland, $33,000.00

 

Brenner L Marshall, Jr., et al (6498 Old Baton Rouge Hwy., Alex., LA) to Hyde's Enterprises, Inc. Jamie Hyde (294 Henry Road, Colfax, LA 71417) - Part of Lot 2, Blk 3, Winn Addn., et al (2405 Taft St., Alex., LA 71301), $35,750.00

 

Price Co Development Corp. (2002 Melrose St., Pineville, LA 71360) to James E Stewart, Jr. 7 Sherry R Stewart (2190 Coulee Crossing, Woodworth, LA 71485) - 5.02 acres in Sec 18, T3NR1W (725 Hwy. 165 S, Woodworth, LA 71485), $111,000.00

 

God Bless America!

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