Rod's Notes

Rod's Notes For Wednesday 07/25/12


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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:

 

No Goats, LLC Dean R. Lindsay (1408 Peterman Dr., Alex., LA 71301) to Raquel, LLC Harriet Gonzalez (2477 E River Road, Oakdale, LA 71463) - Lot 3, J S Fant Subd., $12,000.00

 

Carl N Gunter, III & Martha H Gunter (3361 Edgewater Dr., Gulf Breeze, FL 32563) to Mid South Retirement Services, LLC Ronnie Wayne Lester(90 Harold Miles Park Road, Boyce, LA 71409) - Tract in Sec 13, T3NR1E, et al, $683,100.00

 

RCCS Investments, Inc. (7664 U S Hwy. 158 West, Yancyville, NC 27379) to PLOW, LLC William Fielding James Jr. (5615 Jackson St., Building L, Suite D, Alex., LA 71303) - 40.52 acres in Sec 24 & 28, T5NR1E, $80,000.00

 

Rumor is there is private investor deal working on Bentley Hotel

 

Rumor is Delta Business College property on Lee Street has a new owner

 

Construction contracts recorded: none to report this week but I would like to recap major projects under construction.

 

  1. Ok Allen bridge $82,000,000
  2. Arbor Heights apartments in Pineville 68 units $6,000,000
  3. Candlewood Suite hotel adjacent to Holiday Inn Express
  4. Masonic Drive Projects include the following

 

Masonic Corridor from between Lee Street and Texas Ave is where GAEDA’s (Greater Alexandria Economic Development Authority) has begun efforts to revitalize the streetscape.  

GAEDA’s plans for the project are 30 percent completed and plans call for construction to begin in August or September of 2013.

Ratcliff Construction’s Orthopedic Project next to Cabrini on Masonic Drive.

6 Million dollar project 31,000 square feet building, 120,000sf parking. Owner Is Rehab Specialist, contact person is Bart Jones, there will be a tenant in the office Mid State Orthopedic, and both are local companies. The completion date for the project will be October of this year. The property will have extensive landscaping built around preserving (2) 100+ year live oak trees. The architect for the project is Bledsoe out of Shreveport.

Masonic Homes Apartment Project at the corner of Horseshoe and Masonic Drive.

169 units under construction $17.2 Million dollar project .Masonic Estates LLC owns the property and the managing partner Rodger Landry (770)318-5374 (out of Atlanta, originally from Lake Charles) is heading up development. Brown Construction out of Shreveport are the general contractors.

 

People not properties:

 

Matt Ritchie president elect for 2013 of Louisiana Realtors and State President for CCIM in 2014

 

Karl Landreneau, commercial sales manager for Latter & Blum and international president for CCIM 2014

 

Father Adam Travis is local pastor for church in Natchitoches Parish near Melrose Plantation. This is the church where they filmed the wedding for Steel Magnolia.   

Announcements, Attachments and Travels:

We traveled to Jackson, Mississippi for surprise party to celebrate our son’s 6 year sobriety anniversary. Left Friday morning and discovered some surprises worth sharing. River was down to 13’ could see barges moving up and down but was hard to imagine that Vidalia convention center had to be sand bagged last year.  

Roux 61 on 61 South new restaurant on 61 South been opened about 6 months. Call my friend Joe Stedman )who I discovered in on Mississippi real estate commission) for recommendations. .

Harmony Farms 200 acre horse farm in Learned Mississippi with one five star FEMA trailer. This is a great place to rest, walk, fish, star gaze and romance. Owner might call in one day.

Gibbs Restaurant in old country store from 1983, fine dining on paper plates, staff is too young to serve beer but if you want beer just pull one out of the ice box. Bring your own wine cannot serve wine in the county.

Fairview Bed and Breakfast in Jackson near Millsap College, there are only 18 rooms but entire place is elegant and breakfast is great.  

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) the 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, July 31st at 6:00 PM conference room upstairs at Noles-Frye building.

England Authority sales:

The State of LA (P O Box 94095, Baton Rouge, LA 70804) to England Economic & Industrial Development District (1611 Arnold Dr., Alex., LA 71303) - 149.5 acres in Sec 74 & 39, T4NR2W, $39,923.00

Buying tip: If you want a red plastic gas can buy now if you can find them. Company that makes 75% of these plastic containers is now out of business following a series of plaintiff product liability suits. They did employ 117 people and now the plant is closed. The plastic cans will become product of the past.  

Truth in advertising: Page 4 July 27th edition of “The Week” Elle Zober 37, of Beaverton, Oregon has sign in her front yard that reads “Husband left us for 22 year-old house for sale by scorned, slightly bitter, newly single owner” In the trade this is called “domestic transfer” accounts for 25% of homes listed.

(+2.50) 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 July 16th through July 20th,

  

(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.   

 

(+1) Total weekly volume was: During 5 business days of last week the market gave us $4,763,268 in volume and 42 transactions for positive score.

 

Tuesday July 24th page A2 Wall Street Journal headlines read. Home Prices Reflect Strengthening. Bullet points from the article include the following:

 

  1. Zillow report states that home prices in Q@2012 rose from the year-ago period for first time since 2007.
  2. Zillow measures prices of similar homes is the same community and not median sales.
  3. Nearly 33% of 167 metro areas past annual price increases 2Q2012
  4. Prices rose faster in markets with fewer homes for sale Phoenix was up 12% and Miami was up 6%
  5. Country has hit bottom in terms of home prices
  6. Supply of homes for sale has fallen sharply. Remember few months back when I said Mykoff absorption report could not be right. We have peak demand for rental homes for clients who sold their home and cannot find another to buy.
  7. 2.1% increase from 1Q2012 to 2Q2012 the largest since 2005
  8. 8. Again inventory WSJ survey shows 28 monitored markets all reflect decrease in available inventory. Down by 20% in two-thirds of the markets surveyed. (a) banks have fewer foreclosures listings are down 23% from one year ago (2) investors buyng foreclosed properties are renting instead of repair and flip (3) fewer short sales (4) biggest reason is people electing not to sell in this market
  9. Biggest worry for housing is the job market.

 

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

 

New Way Investments, LLC (3786 Old Marksville Hwy., Pineville, LA 71360) to Zachary P Burns (704 Shanghai Road, Ball, LA 71405) - Lot 3, McRichey Subd., $20,000.00

 

Bocage Subdivision of Alexandria, LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 252, Bocage Subd., Phase V (25 Ragan Dr., Alex., LA 71303), $22,000.00

 

Sharon K Rownd (5241 Rue Notre Dame, Alex., LA 71303) to David L & Ginger L Humbles (4120 Waterford Dr., Alex., LA 71303) - Lot 44, The Lake District, Phase 1, $60,000.00

 

(-1) New home sales: looking for one new home sale for positive score and market gave us zero for negative score

 

(-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 4 sales from lender’s inventory, total sales was $4,763,268 x 5% = $238,163 compared to actual volume of $333.000 or 7% which rates negative score.

 

Dept. of HUD to Madhu Thakker (6005 Pepper Tree Dr., Alex., LA 71303) - Lot 9, Bocage Subd., Phase I, $175,000.00

 

CitiMortgage, Inc. (6400 Las Colinas Blvd., Irving, TX 75039) to Joseph D Sprouse, Jr. (P O Box 4675, Pineville, LA 71360) - Lot 335, Pointe Cotile Ext. # 3 (1013 Magellan Pass, Boyce, LA 71409), $25,000.00

 

Dept. of HUD to Kimberly A Sewell (1601 Military Hwy., Pineville, LA 71360) - Lot 8, Sq 3, Daigre Addn., $108,000.00

 

Deutsche Bank to Jesse & Augustine Karisny - Lot C of a subdivision of Lot 4, Angelo Lenzini Subd. (203 Donna Dr., Pineville, LA 71360), $25,000.00

 

Interest Rates: 30 year fixed is 3.57% was 3.64% the 15 year rate is 2.99%was 3.02% 5/1 ARM is 2.76% was 2.71%.

 

God Bless America!

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