Rod's Notes

Rod's Notes For Wednesday 08/29/12

Rod Noles Property Management, Inc.



Rod’s Radio Show Notes
August 29th 2012


Go to: 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).

No insurance and no closing in front of hurricane:  usually this only delays a home loan closing but generally does not cost the consumer but at the end of the month buyers could be looking at larger daily interest payments if closing is moved into early September.
Two families from New Orleans have evacuated to our home: Our daughter, her husband, their son and dog plus friends of their Carrie, Brantley, their son, their 4 month old daughter, and dog Tyler. The whole famn damilies are great and welcome. When Katrina hit we had 18 people and 6 new dogs. In a way 7 years later I am happy our daughter doesn’t have as many friends.
Every Deal Has a Tale / Tail:
You can learn something from every close deal, the great distance you are from the transaction harder it is to develop good intelligence.
Five Star Foods, Inc. (P O Box 485, Bunkie, LA 71322) to A.K.S. Petroleum, LLC Farhad Khaliq (P O Box 7971, Lake Charles, LA 70606) - Tract in Sec 51, T2NR1W, et al (500 Robinson Bridge Road, Woodworth, LA 71485), $400,000.00. A.K.S. Petroleum, LLC (3130 Richland Spring Lane, Sugar Land, TX 77479) to First Federal Bank of LA (P O Box 1667, Lake Charles, LA 70602) - Tract in Sec 51, T2NR1W, et al (500 Robinson Bridge Road, Woodworth, LA 71485), $340,000.00.This represents an 85% loan to value or $60,000 down for Exxon Station at Indian creek. 
Oxbow Marina, LLC Robert K. Fountain(3020 Hwy. 107, Pineville, LA 71360) to Price Co Development Corp. (1935 Melrose St., Pineville, LA 71360) - .739 acres in Sec 13, T3NR1E (100 Marina Road, Pineville, LA 71360), $100,000.00
Pearson Developments, LLC (6732 Dogwood Dr., Pineville, LA 71360) to EJC Enterprises, LLC Brian Caubarreaux (144 West Tunica Dr., Marksville, LA 71351) - Tract 1, Metro-Plex Subd., $1,200,000.00. EJC Enterprises, LLC (144 Tunica Dr. W, Marksville, LA 71351) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Tract 1, Metro-Plex Subd. (4501 Jackson St., Alex., LA 71303), $960,000.00. This represents a 80% loan to value or $240,000 for prime property on Jackson street extension.
ARC3 DGGDRLA01, LLC Jesse C. Galloway  (106 York Road, Jenkintown, PA 19046) to Goldman Sachs Commercial Mtg. Capital, LP (6011 Connection Dr., Suite 550, Irving, TX 75039) - 1.27 acres in Sec 1, T3NR4W, et al, $12,270,000.00. Multi Collateral mortgage on property highway 28 west and St. Clair road formerly belonging to Kenneth Lewin, this is the South West corner of St. Clair and 28 I think there is a Dollar General there.
Listener called last week asking about the Marksville market: 
I made trip to that market last Thursday to promote closed Blockbuster and call on following 6 business people:
(1) Robert Johnson local attorney and state representative
(2) Mr. Layfield Vice-president at Union Bank
(3) Al Mafouz restaurant owner
(4) Emeric Dupuy assessor of Avoyelles Parish
(5) Brent Scallan local contractor 
(6) David Mitchel hospital administrator for Avoyelles Parish
I also spent some time driving the market between half dozen appointments, previous knowledge of the market, and full day tour here is my answer to the listener’s question. The only vacant building on Tunica drive is the Blockbuster we are attempting to lease, 100% leased shadow center next to Wal-Mart, 100% leased center at former Wal-Mart, Ira Schneider’s former center now owned by D’Argent has been renovated and appears to be full, Harvest Food Center is 100% leases. Closed taco Bell has been purchased by same person who invested $1,200,000 for Jackson street center this week. Between Marksville and Mansura news business within past 2 years include Couvillion Hardware (Ace), Tractor Supply, Kerotest vales, Riviere Re de Soleil nursing home and medical office building development by former CEO at Cabrini Rene Goux and new state of the art car wash. Hampton Inn has $018 “adr” on the week end and is enjoying good occupancy.
Hope for one of five wells will hit oil in a big way, office space, apartments, hotel, and court house parking lot is full of oil leasing agents. There is great appreciation for Tunica Biloxi tribe’s contribution. There is a economic development need to be part of Central La. Closing of some state offices and consolidation to larger markets will create office vacancy. Highway right of way for Tunica has been acquired, engineering is complete, area is waiting on funding for this much needed highway improvement.
Acreage Sales:
Dewana K & James W Ryder (4375 J W Ryder Road, Deville, LA 71328) to Ronnie J & Tanya L Ford (118 Danny Craig, Deville, LA 71328) - 9 acres in Sec 28, T5NR3E, $54,000.00
Alton R & Mary L Paulk (3640 Hwy. 112, Lecompte, LA 71346) to Robin L McDowell (P O Box 1207, Winnfield, LA 71483) - 10 acres in Sec 16, T1NR1W, $310,000.00
Construction contracts recorded: City of Alex. to Rylee Contracting, Inc. (6721 Masonic Dr., Alex., LA 71301) - Toria Drive Extension, Tot Drive to Ragan Dr., $439,242.42
England Authority activity: zero transactions for the week.
People Not Properties:
Our friend Lee Rubin is running for City Council and I missed it in the Town Talk as they have decided not to deliver a newspaper to our office any more. Thanks to all you choose to offer themselves for public service. Lee sold his business earlier this year and is ready for new stage in his professional career.
Robert Kinberger with Edward Jones who manages part of our retirement, I stole some data for his electronic newsletter and attached it to the end of my transcripts.
(+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 August 20th through August 24th
(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.  
(+1.25) Total weekly Volume was: During 5 business days of last week the market provided 45 sales with volume of $6,410,500. Largest sale was $1,200,000 and smallest sale was $500. Positive score for the week.
(+1.25) Lot sales: To rank positive score need one sale market gave us three for positive score. Last week we sold 6 lots in Tennyson Oaks.
D & J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) to Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) - Lot 6, Belle Chase Subd., $40,000.00
Bradley J & Sarah K Touchet (17 Douglas Dr., Newport News, VA 23601) to Brooks T & Charlotte N Harris (111 Mission Ridge, Pineville, LA 71360) - Lot 13, The Left Bank Subd. (3825 Rue Left Bank, Alex., LA 71303), $75,500.00
Richfield Developments, LLC (P O Box 1470, Jena, LA 71342) to Jonathan S & Heidi M Murrell (171 Hooper Road, Pineville, LA 71360) - Lot 14, Richfield Subd., Phase 1, $31,500.00
(+1.25) New Home Sales: looking for one new home sale for positive score and market gave us one which was enough for positive score.
Jaad Builders, LLC (4400 Hwy. 28 East, Pineville, LA 71360) to Albert Davis, Jr. & Beverly Davis (1007 Tranquility Dr., Pineville, LA 71360) - Lot 14, Buckeye Ridge Subd., Phase II, $189,000.00
(+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 three sales with volume of $661,000 / $6,410,500 = 10.31% rates negative score
Federal National Mtg. Assoc. to Julian & Yolanda G Castaneda (6401 Landmark Dr., Alex., LA 71303) - Lot 71, Landmark Subd., $340,000.00
Evangeline Bank (P O Box 12900, Alex., LA 71315) to Derek N Ball (6015 Stonegate Dr., Alex., LA 71303) - Lot 33, Crossgates, Phase III (6015 Stonegate Dr., Alex., LA 71303), $295,000.00
The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Christopher J O'Neal (1719 Hwy. 1204, Pineville, LA 71360) - 4 acres in Sec 14, T5NR1W (6128 Sport Hwy., Pineville, LA 71360), $26,000.00
Interest Rates: 30 year rate was 3.69% this week is 3.55%, the 15 year rate was 2.98% this week it is 2.90%, the 5/1 ARM was 2.87% now 2.98%.  




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