Rod's Notes

Rod's Notes For Wednesday 10/10/12


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).

 

I was there, In New Orleans “cheap seat” with our son, his girlfriend, and my son in law to witness Drew Brees record breaking Johnny Unita’s record of 47 consecutive games with touch down. Payton and Unita’s son were in attendance for the game and both had better tickets than Rod Noles.

 

What’s going on in Cedar Rapids, Iowa? Need a drive by reporter to call in from Iowa and explain WSJ article C-1 September 27, 2012. According to study by Equifax and Moody study that covers 80% of USA borrowers. Cedar Rapids, ranks 177th of 200 surveyed msa areas with highest percentage increase in consumer lending up 52% than same time 2006.

 

Largest drops in California and Florida

 

81% decline in Merce, Ca.

38% decline in Chicago

44% decline in Chicago

55% decline in Los Angeles

40% average decline in USA 

 

3 impacts sighted in study (1) tighter credit standards (2) decrease in loan demands for business expansion as companies’ helve expansion plans and (3) consumers trimmed spending

 

Those markets with an increase shared three common characteristics (1) low unemployment (2) stable employers and (3) real estate markets eschewed speculative bubble markets.

 

Need drive by reporter to call from Cedar Rapids 318-442-8255

 

FDIC Bank Deposits market share report June 30, 2012 Top 5 Alexandria MSA (metropolitan statistical area)

 

32.29%           Red River Bank

18.15%           Capital One

13.53%           JP Morgan Chase

  8.47%           Evangeline Bank

  5.77%           First Federal Bank & Trust Company

 

78.12%           Top 5 Banks

 

21.79%           12 other banks

 

Cannot confirm in writing that Bancorp South acquired bank in Western part of the state          

 

Every deal has a tale / tail:

 

Thieu H Le is d/b/a Happy Hails (6501 Coliseum Blvd., Suite 100B, Alex., LA 71303) first retail tenant facing Wal-Mart in former Century Tel building

 

Firstchoice Property & Development, LLC Greg Kelly (219 Hwy. 45 West, Humboldt, TN 38343) to Beau Rivere, LLC Tynes E. Mixon III (3305 E Old Spanish Trail, New Iberia, LA 70560) - 1.734 acres in Sec 3 & 10, T3NR1E, $1,517,000.00. Beau Rivere, LLC (3305 E Old Spanish Trail, New Iberia, LA 70560) to Vermillion Bank & Trust Co. (211 Main St., Gueydan, LA 70542) - 1.734 acres in Sec 3 & 10, T3NR1E (4826 Hwy. 28 E, Pineville, LA 71360), $766,687.00. Freds Store in Pineville, La.

 

Kathryn K Gawthrop, et al (104 Woodridge Circle, Pineville, LA 71360) to Pamela J Bynog (1801 Sunburst Lane, Pineville, LA 71360) - Lot 33, Brookhaven Subd., $139,900.00. Great time share story about Guy and Kathy as agents they purchased rental properties.

 

Tootsie, LLC (1405 Metro Dr., Building 1, Alex., LA 71301) to ABM Development, LLC (3330 Jackson St., Alex., LA) - Lot 18, Mansour Addn. (5411 Mansour Ave., Alex., LA 71302), $67,500.00. ABM owns nearly all of the duplexes on Mansour drive.

 

Nursery sales:

 

Thongsavanh Souvannarath (30234 Cupeno Lane, Temecula, CA 92592) to Phouthone Xanamane (1241 Pate Dr., Glenmora, LA 71433) - 10 acres in Sec 29, T1SR2W, $27,000.00

 

Phouthone Xanamane (1241 Pate Dr., Glenmora, LA 71433) to Santos Rubio (P O Box 265, Forest Hill, LA 71430) - 10 acres in Sec 29, T1SR2W, $30,000.00

 

Church sales:

 

Kenneth W Mott, Trustee of the George K Mott & Mary A Mott Living Trust (1312 Mohon St., Alex., LA 71301) to Calvary Baptist Church (5011 Jackson St., Alex., LA 71301) - Lot 3, Blk 1, Camellia Place Subd. (1312 Mohon St., Alex., LA 71301), $320,000.00. Corner of Mohon and Jackson is owned by the church this is the next home and then the church owns next two homes. Calvary owns lot 595feet on Mohon.

 

Ransville Realty Corp. (5303 Random Dr., Alex., LA 71302) to Baptist Temple (4200 MacArthur Dr., Alex., LA 71302) - Lots 6 & 7, Blk 2 of the re-subdivision of Lakeside Subd., $160,000.00 or $2.64 psf. This is the corner of Random Drive and MacArthur 60,583 square feet or 1.39 acres adjacent to the church. Former Jim Walters lot on MacArthur

 

Crop of Engineers web site: google New Orleans District Corp of Engineers click on permit site or http://www.mvn.usace.army.mil/ops/regulatory/index.asp go to “Public Notice” look at wetland permits in Rapides Parish can see Jerome Karam’s plans to develop a duplex subdivision behind Century Tel property. This is a great look behind the curtain for permit work happening in our back yard.

 

Armour building on lower Third coming down, I once owned this building with Mark Oray we paid $12,000 for it and Mark later purchased my share and used the building for his construction warehouse. It’s a shame the community will lose this structure. http://www.mvn.usace.army.mil/ops/regulatory/index.asp

 

Weyerhaeuser Announces Manufacturing Expansion In Natchitoches

From Louisiana Economic Development

NATCHITOCHES, La. - Today, Gov. Bobby Jindal and Weyerhaeuser Company Plant Manager Steve Story announced a $6 million capital investment by  Weyerhaeuser that will retain 175 jobs and create 30 new jobs at the company's Natchitoches forest products plant.

 

The company will modernize and upgrade equipment that will lead to more productive operations at the Weyerhaeuser Engineered Lumber Products site, with the new direct jobs paying an average salary of more than $31,000, plus benefits. LED estimates the project will result in an additional 77 new indirect jobs in the area.

 

Gov. Jindal said, "Weyerhaeuser began their forest products operations in our state over 100 years ago, and it employs over 800 people in Louisiana. We're proud that Weyerhaeuser chose to expand and modernize its operations right here in our state because of our strong business climate and incomparable workforce. This expansion demonstrates our strong commitment to growing Louisiana's businesses and moving our economy forward."

 

At the 250,000-square-foot facility in Natchitoches, Weyerhaeuser produces I-joists under the Trus Joist® brand and laminated veneer lumber and structural header and beams under the Microllam® brand.

 

LED's Business Expansion and Retention Group, or BERG, began working with Weyerhaeuser on expansion opportunities in April. To secure the project, the state offered the company a $300,000 Modernization Tax Credit, payable over five years, and the customized services of LED FastStart™ - ranked the No. 1 state workforce development training program in the nation. Weyerhaeuser also is expected to utilize Louisiana's Industrial Tax Exemption and Quality Jobs incentive programs.

 

Hiring for the new direct jobs is under way and will be completed within the next two years. Construction will start early next year and will be completed by the end of 2013. Altogether, the company employs 845 people in 10 Louisiana communities: Arcadia, Bogalusa, Dodson, Holden, Livingston, Mandeville, Natchitoches, Ruston, Taylor and Zwolle.

 

Email from listener and good friend Mike Haynes

Rod,  my son Chris just opened up a 10 space  RV park adjacent to  St..Mary’s  on Hwy  1 – between Rapides  Station Road  and Air Base Road.  www.alexandrairvpark.com. He has got a great  little spot and  it took over 2 years to get it develop.

 

(+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 October 1st through 5th

 

(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.   

 

(-1.25Total weekly volume was $4,845,814 with 37 sales for negative weekly score. Smallest sale was $4,000 largest sale was $1,517,000.00.

 

(+1.25) Lot sales: To rank positive score need one sale market gave us two sales.

 

DJH Real Estate Investments, LLC (1104 Palmer Chapel Road, Pineville, LA 71360) to Hogan R Wray - 3.189 acres in Sec 9, T1NR3W, $15,900.00

 

Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Steven L & Tami C Banick (P O Box 13727, Alex., LA 71315) - Lot 173, Tennyson Oaks Subd., Phase &E (6328 Windy Oaks, Alex., LA 71303), $80,000.00

 

(+1.25) New home sales: looking for one new home sale for positive score and market gave us three.

 

V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Michael & Samantha Markley (25018 Gerald Ave., Calcium, NY 13616) - Lot 252, Bocage Subd., Phase V (25 Ragan Dr., Alex., LA 71303), $211,590.00

 

Thomas Bolton Properties & Construction, LLC (4821 Porter Circle, Alex., LA 71303) to Tamaney C & James E Ham (1320 Stanley Road, Lake Charles, LA 70605) - Lot 218, Bocage Subd., Phase V (5842 West Austin, Alex., LA), $237,424.20.

 

Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) to Justin L & Chrissy R Morton (3022 Wesley Circle, Woodworth, LA 71485)- Lot 132, Country Club Place, Phase VI, $225,000.00

 

(+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 only 2 sales total sales volume of $43,500 / $4,845,814 = 2.35%. Remember last week there were zero foreclosed sales.

 

Federal National Mtg. Assoc. to John D Connella, Jr. & Lindsay W Connella - Lots 4 & 5, Sq 1, Belaire Place (10 Chester St., Alex., LA 71301), $25,500.00

 

Red River Bank (1412 Centre Court, Alex., LA 71301) to Lawrence M Dunn, Jr. 7 Jackie A Dunn (2098 Emmanuel Road, Lena, LA 71447) - 1.65 acres in sec 43, T4NR1W (8645 Hwy. 1200, Boyce, LA 71409), $18,000.00. Only other foreclosed property in their inventory is $47,500 lot on Versailles.

 

Interest rates: 30 year rate was 3.40% this week is 3.44%, the 15 year rate was 2.83% this week it is 2.84%, the 5/1 ARM was 2.96% now 2.97%.

 

Number only I find interesting

 

1% who are also the 47%               2,362 people collected unemployment benefits in 2009 despite living in HH that earns $1, 000,000

 

 

Robert Kinberger financial comparisons: Wall Street calls them Indices.

Indices

 

Last

Last Week

YTD return %

DJIA

13575.36

13485.97

11.11%

NASDAQ

3149.46

3136.601

20.40%20.89%

S&P 500

1461.40

1447.15

16.21%

MSCI EAFE

1529.15

1526.25

8.25%

Russell 2000

844.65

843.54

14.00%

 

Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.17

0.08

30-year mortgage

3.40

4.00

 

Currencies

 

Last

1-year ago

Dollars per British Pound

1.618

1.539

Dollars per Euro

1.302

1.327

Japanese Yen per Dollar

77.340

76.840

Canadian Dollars per Dollar

0.981

1.061

Mexican Peso per Dollar

12.751

13.919

 

Commodities

 

Last

1-year ago

Crude Oil

91.71

75.67

Gold

1792.18

1621.45

<br />

Bond Rates

 

Last

1-month ago

2-year treasury

0.25

0.24

10-year treasury

1.71

1.62

10-year municipal (TEY)

2.89

3.00

 

 

 

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