Rod's Notes

Rod's Notes For Wednesday 07/11/12


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).

 

Every deal has a tale / tail:

 

RDK Properties, LLC Richard Kyle  (1423 Lee St., Alex, LA 71303) to PMT Properties, LLC Brent Pearson (2804 North Bolton Ave., Alex., LA 71303) - Lot 2, Northport Commercial & Industrial Park (2804 North Bolton Ave., Alex., LA 71303), $373,750.00 This is 2.688 acres at Northport the seller paid $325,000 in March 3, 2007 from Mobile Air of Louisiana. Appears Brent was leasing this property next door to Petrus and decided to buy it. This is a good sign for Pearson Medical Tech and a fair price landlord selling to their tenant.

 

Robert S Strother (208 Milky Way Dr., Pineville, LA 71360) to Konrad's Collision Center, LLC Konrad Kim Perkins  (4301 Hwy. 28 E, Pineville, LA 71360) - Tract in Sec 9, T4NR1E (4305 Hwy. 28 E, Pineville, LA 71360), $75,000.00.Small building between Jenkins Drive and Alice drive  on north side of 28 east across from Ochio Rios.

 

OSMS Building Corp. (224 Pecan Park Ave., Alex., LA 71303) to Whitney Bank (P O Box 61260, New Orleans, LA 70161) - Part of Lot A, White Oak Center Subd., et al (224 Pecan Park Ave., Alex., LA 71303), $3,535,540.00

 

Unusual conditions in market place last two weeks five subdivisions lots in our office last few days. Two sold in Tennyson Oaks and three in Lake District. Two families walked in our property management looking for executive rentals both had sold very nice homes in new section of Charles Park and Lake District where complete stranger knocks on the door and says will you sell your home.

 

Daughter and her husband purchase home in old Metairie this week. Our son in law made comparison on their loan 3.5% at 40 years compared to 5.5% future rate and wait for home prices to decline. Price would need to decline 20% for their payments to remain the same. They bought now which I think is a good move.

 

Have client who is selling large farm and wants to invest in 1031 deferred tax exchange and looking to buy 20 to 25 nice homes in $160,000 to $200,000 range if you know of someone who owns a portfolio for homes in $150,000 to $200,000 range and wants to sell the entire package please have them call me.

 

Near Paradise Baptist Church of Highway 28 East on Hooper Road we have a land owner who is willing to give mobile home away, call my assistant Pricilla.  

 

Eddie’s barbeque at Lee and McArthur is opening back up.

 

Pelican Café at Esler airport was sooo!!! Good I am taking my entire staff last week of this month. Try the Perry burger.  

 

People not properties:

 

Buried good friend Darrell Guillory this past Monday, Darrell was college classmate, fraternity brother, and was in our wedding. Judy allowed me to visit with him at hospital on Thursday evening and we had great conversation. I told Darrell to send me a signal if he did not make it to heaven I would drastically change my game plan. The State troopers and Parish Sherriff officials standing at attention in the rain at the grave site was a beautiful tribute. If you have a good Darrell Guillory story give us a call.

 

Dan Purvis former baseball coach at LSUA is now an agent with Noles-Frye and I asked him to stop by for a “new agent” highlight.

Construction Contracts:

$25,000,000 in construction is under way on Masonic Drive with (1) orthopedic center and (2) Masonic home apartment development.

LA DOTD to Gilchrist Construction Co., LLC - 1.136 miles of roadwork on LA 3265 & LA 115, $708,046.11

England Airpark purchase and re-investments: Study will show over 50 transactions and $5,400,000 in closed sales and onely $1,100,000 re-invested in Rapides Parish where did the other $4,000,000 go? Any ideas give us a call 442-8255

Announcements, Attachments and Travels:

Twenty local brokers were in attendance to meet with Bruce Unangst executive director for LREC, thanks to Rhonda Reap Curriel for sitting meeting up.

One day CCIM course: Attachment will provide the details, I have trained for this course delivery but commercial sales manager for Latter & Blum will be course instructor. (1) most valuable section of the course is “compare and contrast various measures of yields for investment real estate.”

Lake District HOA meeting: to discuss no fishing enforcement in our private lakes. Prior to first LSU home game likely to have 6 custom homes under construction.

Mykoff absorption report 6.66 month’s supply of homes 626 homes on market 1st of June 94 sold in 6.66 months sold out.

24 homes above $400,000 of which 1 sold providing 24 month supply

63 homes between $250,000 and $400,000 and 11 sold providing 5.73 month supply.

185 homes between $150,000 and $250,000 and 28 sold leaving 6.61 month supply

354 homes under $150,000 and 54 sold leaving 6.56 month supply

Average home price May to May comparison in MLS is up 6% from same time last year.

(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. Only negative this week is strong lender sales

 

Legal recorder data: five business days from time period of July 2nd through July 9th, keep in mind slow week with July 4th holiday.

  

(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: $5,131,000 with 48 transactions from July 2nd to Monday of this week the 9th in order to get 5 business days.

 

(+1.25) Lot sales: To rank positive score need one sale market gave us 48 sales with 5 day business volume of $5,131,700

 

Trustland Mtg., LLC (5615 Jackson St., Building L, Alex., LA 71303) to TSW Properties, LLC (6 Hwy. 461, Hineston, LA 71438) - 1.1 acres in Sec 4, T4NR2E, $22,000.00

 

DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to John L Huekl, Jr. (28 Billy Evans Road, Pineville, LA 71360) - 1.28 acres in Sec 21, T5NR1E, $22,000.00

 

Jeff Porter Investments, LLC (42 Philadelphia Road, Pineville, LA 71360) to Johnny Porter & Son Contractors, Inc. (42 Philadelphia Road, Pineville, LA 71360) - Lots 3 & 4, Prairie Land Subd. (6 Tyler Road, Deville, LA 71328), $42,000.00

 

(+1.25) New home sales: looking for one new home sale for positive score

 

ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Jennifer M Boudreaux (101 Havens Road, Elmer, LA 71424) - 2 acres in Sec 25, T2NR4W (101 Havens Road, Elmer, LA 71424), $129,400.00

 

V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Terrence D & Tanya D Williams (5908 West Austin Dr., Alex., LA 71303) - Lot 220, Bocage Subd., Phase V (5908 West Austin Dr., Alex., LA 71303), $205,000.00

 

(-1.25) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave us 5 sales totaling $536,810 / $5,131,700 = 10.46%

 

Sabine State Bank (P O Box 670, Many, LA 71449) to Wanda S Robbins (3246 Rigolette Road, Pineville, LA 71360) - 15.287 acres in Sec 26, T5NR1W, et al, $212,500.00

 

The Evangeline Bank (P O Box P O Box 12900, Alex., LA 71315) to D.D.T., Inc. (1903 Britt Lane, Glenmora, LA 71433) - 2.9 acres in Sec 70, T4NR3W (200 Mude Road, Boyce, LA 71309), $82,000.00

 

Dept. of HUD to Celena Lewis (4825 Porter Circle, Alex., LA 71302) - Lot 31, Acadian Village Subd., $31,060.00

 

First Federal Bank of LA (P O Box 1667, Lake Charles, LA 70602) to Joshco, LLC (324 Live Oak, Pineville, LA 71360) - Tract in Sec 26, T3NR1W (5968 Eddie Williams Ave., Alex., LA 71301), $172,500.00

 

Springleaf Financial Services of LA (8550 United Plaza Blvd., Baton Rouge, LA 70809) to Destiny Properties, LLC (198 Foxfire Lane, Alex., LA 71302) - Lot 2, Blk A, Brewer Addn. (3623 Evergreen Dr., Alex., LA 71301), $38,750.00

 

Interest Rates: 30 year fixed is 3.62% was 3.67% the 15 year rate is 3.02%was 3.03% 5/1 ARM is 2.68% was 2.72%.

 

God Bless America!

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