Rod's Notes

Rod's Notes For Wednesday 09/05/12


Rod Noles Property Management, Inc.

 

Rod’s Radio Show Notes
September 5th 2012
 
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).

 
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.
 
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.
 
First I will review deals for the week and then take look at larger sales in August
 
CNL APF Partners, LP (8377 East Hartford Dr., Suite 200, Scottsdale, AZ 85255) to D'Argent Development, LLC (1460 Centre Court, Alex., LA) - Two tracts in Sec 7, T4NR1E (2645 Holloway Road, Pineville, LA 71360), $410,000.00
 
Robert L Beck, Jr. & Nancy J Beck (P O Box 12850, Alex., LA 71315) to Bryco Holding, LLC (511 Post Oak Blvd., Alex., LA 71303) - Lot 16, Blk 3, North Village (5220 Lacassine Dr., Alex., LA 71301), $25,000.00
 
Here are deals in August that we might learn something from.
 
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.
 
Louisiana Rockwell, Inc. Thomas Wilson (1330 Jackson St., Alex., LA 71301) near the corner of 13th street and Jackson to HDJones Properties, LLC David Joones young attorney in town. (2319 Marye St., Alex., LA 71301) - Part of Lot 3, Sq 34 1/2, Jackson St. Subd., et al (1330 Jackson St., Alex., LA 71301), $255,000.00. Discussed this last week but wanted to add that David was able to retain all of his tenants.
 
Kay John Properties, LLC (P O Box 12656, Alex., LA 71315) to Ratcliff Construction Co., LLC (P O Box 7522, Alex., LA 71306) - 4.73 acres in Sec 53 & 56, T4NR1W (3900 Lee St., Alex., LA 71301), $700,000.00. 3900 Lee Street
 
Roofing mill located at Dallas and Broadway will be auctioned by Barbara Bonnette September 6, 2019. The land consisting of 44.22 acres, the building 172,760 sf. Plus all of the equipment will be sold in absolute auction by Barbara Bonnette. 
 
KCV Outparcel, LLC (109 North park Blvd., Suite 300, Covington, LA 70433) to Price Co Development Corp. (7929 Hwy. 3128, Pineville, LA 71360) - 1.685 acres in sec 36, T5NR1E, $107,000.00. Parcel size was 1.685 acres = $1.46 psf
 
Rumor that Rapides Hospital purchased Bowling Alley not true see attached flyer and floor plan for Four Season bowling plaza.
 
George M Johnson, et al to SDH Acquisition, LLC (3334 Hwy. 112, Lecompte, LA 71346) - 40.07 acres in Sec 18, T1NR1W, $500,000.00. This is George Johnson Nursery sale in Lecompte, Forest Hill area from the estate of George and Vera Johnson. The buyers are Stephen W. Head and Debra St. Romain Head from Lecompte.
 
Jewel & Jim's, LLC Erma Adams former office(900 Hiawatha Trail, Pineville, LA 71360) to KCSC Properties, LLC Burton Kolder and Russell Champagne (183 South Beadle Road, Lafayette, LA 70508) - Lot 20-B , Metro-Plex Subd. (1428 Metro Dr., Alex., LA 71301), $300,000.00.
 
Brandon D Tyler Dean Tyler  (67 Nation Road, Deville, LA 71328) to 1106 Main St., LLC Gregg Thompson(P O Box 7522, Alex., LA 71306) - 1.382 acre tract - no other description given, $90,000.00. Just the right size for Dollar General but cannot tell from legal description where?
 
Acreage Sales:
Andrea L Ford (163 Sweetwater Rim, Pineville, LA 71360) to Richard S & Miranda M Kellogg (P O Box 122, Forest Hill, LA 71430) - 9.558 acres in Sec 35, T1NR2W (24 Holden Road, Forest Hill, LA 71430), $43,500.00
 
Construction Contracts Recorded:
Hineston Water System, Inc. to USDA - .23 acres in Sec 35, T3NR4W, et al, $1,263,000.00 mortgage of interest not construction contract.
 
Speaking of contracts does anyone have a story about broken contacts for cotton delivery? I read in wsj broken commodity contracts for cotton is so severe it could collapse the commodity market for cotton.
 
England Authority Activity: None 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 of you who 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 Raymond James and not 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.
 
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 August 27th through August 31st
  
(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:
During 5 business days of last week the market provided could not get a full week’s sales with court house being closed Wednesday and Thursday.
 
(+1.25) Lot Sales:
To rank positive score need one sale market gave us
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Jetty N Luneau (962 Scroggs Road, Centerpoint, LA 71323) - Tract in Sec 41, T4NR2E, $25,000.00

(+1.25) New Home Sales:
Looking for one new home sale for positive score and market gave us 
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Dong T Nguyen (5445 Provine Place Apt. 312, Alex., LA 71303) - Lot 237, Bocage Subd., Phase V (5818 Hannah Dr., Alex., LA 71303), $230,000.00
 
V & V Builders, LLC (P O Box 12850, Alex., LA 71315) to Erricka D Parker (27 Ragan Dr., Alex., LA 71303) - Lot 251, Bocage Subd., Phase V, $224,500.00
 
(+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
 
Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Richard J & Lillian L Langston (757 Blue Lake Road, Forest Hill, LA 71430) - Tract in Sec 2, T1NR1W, et al, $277,000.00
 
The salvo of distressed homes sales that was supposed to sink the housing market hasn’t show up yet.
 
Numbers         
2.1 million Single family homes on the market down from peak 3.4 million in July 2007
12% number of foreclosed sales as percentage of total market down from 17% year earlier
50 / 50 construction at 50% of what it was 50 years ago
$30 million Canadian dollars size of heist from maple syrup reserve in Quebec
75% of maple syrup consumer at I-Hops of America comes from Canada.
4.47 million annual rate of existing home sales as predicted by NAR
14% increase in condo sales from same time last year
24% distressed transactions down from 33% this includes short sales and foreclosed (I do not trust this number)
$187,300 median home price nationally for July
 
 
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%.
 
Robert Kinberger weekly numbers (Robert is with Raymond James and manages some of our retirement accounts)
 
Indices

 

Last

Last Week

YTD return %

DJIA

13000.71

13057.46

6.41%

NASDAQ

3048.71

3053.40

17.03%

S&P 500

1399.48

1402.08

11.28%

MSCI EAFE

1463.96

1495.65

3.64%

Russell 2000

808.64

806.00

9.14%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.15

0.12

30-year mortgage

3.55

4.28

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.579

1.629

Dollars per Euro

1.250

1.442

Japanese Yen per Dollar

78.560

76.670

Canadian Dollars per Dollar

0.993

0.981

Mexican Peso per Dollar

13.391

12.509

 
Commodities

 

Last

1-year ago

Crude Oil

94.62

88.90

Gold

1655.20

1825.93

 
Bond Rates

 

Last

1-month ago

2-year treasury

0.24

0.23

10-year treasury

1.59

1.54

10-year municipal (TEY)

3.05

2.80

  
Economic Calendar
 

September 3

Labor Day Holiday (markets closed)

September 4

Market US Manufacturing Index (August, final)
ISM Manufacturing Index (August)
Motor Vehicle Sales (August)

September 5

Productivity (2Q12, revised)

September 6

ECB Policy Decision
ADP Payroll Estimate (August)
Jobless Claims (week ending September 1)
ISM Non-Manufacturing Index (August)
Obama Acceptance Speech

September 7

Employment Report (August)

September 12

German Court rules on European Stability Mechanism

September 13

Producer Price Index (August)
Fed Policy Meeting
Bernanke Press Briefing

September 14

Consumer Price Index (August)
Retail Sales (August)
Industrial Production (August)

 
 
 

 
 

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