Rod's Notes

Rod's Notes For Wednesday 12/19/12


Rod Noles Property Management, Inc.

 

 Rod’s Radio Show Notes
December 19th 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).

 
I will not be back on the show until after Christmas: Merry Christmas to Bob, Dave, staff at Cenla broadcasting, and our listening audience. My next show will be January 2, 2013.
 
Announcements and Travel:
 
Another week end in New Orleans and I can report that you must walk through Roosevelt Hotel Lobby at Christmas. I talked with newspaper columnist John Maginnis in the lobby. Second Christmas surprise was Fulton Street next door to Harrah’s hotel is beautiful and hoping with new Manning restaurant. When time permits and it did this trip I make an appointment to have a shave a Adian Gill. This is $35 luxury that is almost worth the price.
  
Sugar Bowl Tickets for Sale: 

Friend of mine has 4 tickets together in the Loge section 309 row 6 about the 10 yard line for $200.00 a piece which is face value for sale. Call Robert Penisk if you are interested.
 
Robert C. Penick, Ph.D.
Vice President and Treasurer
Chief Financial Officer
Latter & Blum/ C. J. Brown Realtors
225-297-7835 Direct Number
 
Rumor of the Day:

Golden Corral Steak House in former Carl Wynn auto leasing center in pad location in front of Sutherland Lumber Supply. Mark Dusang from New Orleans office of the shopping center owner confirmed rumor was correct.
 
Concrete work around McDonalds at Lee and MacArthur Ransbottom property, I am asking Priscilla to call in and give us the prices on these two parcels. 1.2 acres between Pizza Hut and McDonalds $250,000 & .8 acres at 5001 Lee Street $115,000.
 
Latter & Blum acquires Denham Springs Real Estate Company news from last week this week:
 
In an announcement meeting earlier today, M. A. Allen Company founder Mary Ann Allen announced that her company is joining C. J. Brown’s Denham Springs Office. Their existing M. A. Allen office at 1208 South Range Ave will now operate as C.J. Brown and, along with our current location, will be managed by Tess Boudreaux. M. A. Allen’s 40 Sales Agents will join the 250 + Sales Agents of C. J. Brown in a transaction which closes 12/31/2012. We anticipate that Agents of M. A. Allen will begin affiliating now and continue through the month of December.
 
This week Van Eaton & Romero of Lafayette merged with Latter & Blum.

The combined companies now will rank as the 34th largest real estate company in America based on annual unit sales.
 
By joining forces, these two longstanding and esteemed Louisiana brands will expand the leadership position already held by Latter & Blum Inc./REALTORS in the New Orleans market, by C.J. Brown REALTORS® in the Baton Rouge market and Noles-Frye Realty in Central Louisiana (companies owned by Latter & Blum Inc.). In 2012, The Latter & Blum Family of Companies will finish the year with nearly $1.8 billion in total sales and 8,400 total units sold.  This addition, positions Latter & Blum Inc. for continued success in the local, regional, national and global Real Estate markets. Now with a combined strength of more than 1,300 talented sales professionals throughout Louisiana and the largest market share in each of the regions we serve, our future is filled with exciting possibilities.”
 
The two companies will retain their respective names, Van Eaton & Romero, REALTORS in the Lafayette market and Latter & Blum Inc./REALTORS® serving the Greater New Orleans market. With C.J. Brown REALTORS® Inc. in Greater Baton Rouge and Noles-Frye in the Central Louisiana region, these four companies represent the best in Real Estate in Louisiana. 
 
People Not Property:
 
Attakapas magnificent ½ dozen: Emile Oestreicher, Don Baker, Ann Masden, Father Bruce Miller, Rev. Bob Vincent, and Jay Bolen special thanks for their work in purchasing 166 acres at Trout, La. If one of our listeners knows more about the history and fund raising efforts give us a call.
 
Mayor Dan Hollinsworth must be happy to discover that Ruston is a top retirement destination so says magazine titled “Where to Retire” article say 700,000 relocate to new towns for retirement. My comment is if they all move to Ruston the largest city in La. will now be in a 318 area code. Go Dogs.  
 
England Authority Sales:
 
Johnnie W Eznack, et al (365 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 2.97 acres in Sec 13, T4NR2W, $61,000.00
 
Mike the unhappy client: If you are wondering what happen with client that called in last week I will tell you at the end of our show if time permits. Appreciate the jabs and condolences from many listeners.
 
Every Deal has a Tale / Tail:
 
J P Morgan Chase Bank (7301 Baymeadows Way, 2nd Floor, Jacksonville, FL 32256) to Campbell Appraisals, Inc. (1038 Amber Lane, Pineville, LA 71360) - Lot 3, Indian Creek Park Subd. (201 Belle Trace, Lecompte, LA 71346), $126,500.00. I bid $131,500 at Sheriff Sale and lender list the property and 90 days later sells it for $126,500 at difference of $12,590 net to the seller.
 
Barbara E Desselle (404C Ansley Blvd., Alex., LA 71303) to William O Blacksher, III (6028 Stonegate Dr., Alex., LA 71303) - Lot 20, Bayou Court Townhomes (963 Bayou Trace Dr., Alex., LA 71303), $125,000.00. When we first converted these to condos they were selling between $45,000 to $55,000 and I begged everyone on our staff to buy a unit.
 
Highway 28 Condos, LLC (6501 Coliseum Blvd., Alex., LA 71303) to The Evangeline Bank (P O Box 12900, Alex., LA 71315) - Lot 6, Plaza 28 (6501 Coliseum Blvd., Alex., LA 71303), $3,660,055.45. Based on public notice for wetland permit developer plans to build several duplex apartments.
 
Carroll Furniture is Going Out of Business:
 
Priscilla Perry and I just listed Carroll’s Furniture at 1819 Memorial Drive today for $1,600,000. The primary building is 51,110sf of showroom, office and warehouse. The secondary building is a 16,000sf self-sufficient 100% leased, income producing RV storage rental. The storage rents are below market, but still bring in $60,000 a year in revenue. Both buildings sit on 5 acres. Carroll’s Furniture is going out of business, but will continue to occupy the space until we find the right buyer.
 
Construction Contracts: $1,852,243 recorded last week
 
Pineville Housing Authority (2731 Hwy. 28 E, Pineville, LA 71360) to T L Construction, LLC (P O Box 12893, Alex., LA 71315) - Modernization improvements 28 East Apts., $173,223.00
 
City of Alex. to KDC Construction Co., LLC - Improvements to Frank O Hunter Park, $1,679,020.75
 
Preview on Predictions for 2013:

Would like for our listeners to phone in with what they think will happen in our market next year. I will have 10 market predictions next week. One will be that South traffic Circle will still be with us at the end of 2013. Sometime in 2013 we will have a five week run of perfect “REI”. First show next predictions that will entertain and hopefully you can profit from. Today I am asking our audience to make 2013 predictions regard market, developments, or personalities.
 
Tax Tips for Year-End:

Too late for planning and nearly too late to act. You can pay your January house note in December or any other mortgage for that matter. Make sure you pay year-end expense real estate taxes etc. Neat installment trick is owner finance with down payment 12-31-12 first payment 1-1-13 and final payment 1-1-14 spread sale over three tax years with 12 months and one day receipt of payments.
 
(+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:
 
Business days from December 10th through 14th
 
(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:
 
Total volume of $2,823,907 with 32 transactions rates a negative score. I predict that my next show will have high closing volume for the week as property owners look at sale this year for more favorable tax treatment.
 
(+1.25) Lot sales:

To rank positive score need one sale per week the market gave us four sales
 
Raymond D Hughes, Jr., et al (1732 Hwy. 1204, Pineville, LA 71360) to Brittan & Sons Construction, LLC (5521 Jackson St. Ext., Alex., LA 71303) - 1.724 acres in Sec 2, T4NR1W (2741 Rigolette Road, Pineville, LA 71360), $16,174.16
 
C Babson Fresh (900 Windermere Blvd., Alex., LA 71303) to V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) - Lot 59. St. Andrews Links Estates, Phase II, et al (293 Links Dr., Alex., LA 71303 & 233 St. Andrews Dr., Alex., LA 71303), $65,000.00

Robert Rayford, Jr. & Betty A Rayford (243 Wilderness Dr., Boyce, LA 71409) to Elbert G & Dorothy M Fuqua (3002 Hwy. 107, Pineville, LA 71360) - Lot 89, Woodlands, Phase IV, $36,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week for positive score market provided one for positive score.
 
V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Wilton A Guillory, III (203 West Bronson Dr., Alex., LA 71303) - Lot 326, West Pointe on the Bayou, Phase XII, $277,500.00
 
(-1.25) Lender Sales as Percent of Total Sales:

Rates positive score if lender sales are below 5% of total sales, the market gave us three sales with total volume of $169,900 / $2,823,907 = 6.01% for negative score.
 
J P Morgan Chase Bank (7301 Baymeadows Way, 2nd Floor, Jacksonville, FL 32256) to Campbell Appraisals, Inc. (1038 Amber Lane, Pineville, LA 71360) - Lot 3, Indian Creek Park Subd. (201 Belle Trace, Lecompte, LA 71346), $126,500.00
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to Michael & Krysten Newman (129 Rabbit Lane, Lot 2, Hessmer, LA 71341) - Lot 3, Sq 13, Silver City Subd., $6,900.00
 
Federal National Mtg. Assoc. to Jada Investments, LLC (P O Box 12203, Alex., LA 71315) - Lot 20, Blk A, Kelley Land Subd., $36,500.00

Interest Rates:

30 year rate was 3.39% this week is 3.41%, the 15 year rate was 2.80% this week it is 2.85%, the 5/1 ARM was 2.76% now 2.74%.
 
Mykoff Absorption Rate:
 
5.95    Total Market beginning of November 660 homes on market 138 sold = 5.95 sell off time
7.25    Market $400,001 and up 29 on market 3 sold = 7.25 sell off time
6.7      Market between $250,001 and $400,000 67 on market 17 sold = 6.7 sell off time
6.13    Market b/t $150,001 and $250,000 number on market 190 and 41 sold = 6.13 sell off time
5.52    Market below $150,000 on market 364 and 66 sold = 5.52 sell off time
 
Total market 111 properties sold in November within Central Louisiana MLS and 138 new properties came on the market.
 
Acreage Sales: 
 
Patricia G Cruse (1147 Masterson Dr., Baton Rouge, LA 70810) to Ward C Hooter, II (404 Hillcrest Dr., Alex., LA 71301) - 120 acres in Sec 42, T5NR1E, $252,000.00
 
Indices

 

Last

Last Week

YTD return %

DJIA

13170.72

13074.04

7.19%

NASDAQ

2992.16

2989.27

14.48%

S&P 500

1419.45

1413.94

12.39%

MSCI EAFE

1583.77

1569.46

13.66%

Russell 2000

824.20

821.79

10.63%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.18

0.07

30-year mortgage

3.34

3.94

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.610

1.553

Dollars per Euro

1.307

1.308

Japanese Yen per Dollar

83.470

77.940

Canadian Dollars per Dollar

0.985

1.029

Mexican Peso per Dollar

12.821

13.785

 
Commodities

 

Last

1-year ago

Crude Oil

85.89

100.14

Gold

1696.99

1657.72

Bond Rates

 

Last

1-month ago

2-year treasury

0.23

0.24

10-year treasury

1.70

1.60

10-year municipal (TEY)

2.80

2.85

 
 
December 12, 2012
FOR IMMEDIATE RELEASE
Contact: Stephen Waring
Direct Line: (504) 569-9323
Mobile: (504) 373-7889
Email: swaring@latterblum.com
 
 
Van Eaton & Romero REALTORS® Joins Forces With LATTER & BLUM Inc.
 
New Orleans, LA –Latter & Blum Inc. and Van Eaton & Romero REALTORS® today announced that the companies have finalized an agreement that will bring together two of the regions’ most respected real estate brands. Effective immediately, this partnership with Van Eaton & Romero increases the size of the residential Real Estate companies of Latter & Blum Inc., already the largest real estate brokerage in the Gulf South, by approximately 28 percent, and will rank it as the 34th largest in the United States by unit sales. 
 
By joining forces, these two longstanding and esteemed Louisiana brands will expand the leadership position already held by Latter & Blum Inc./REALTORS in the New Orleans market, by C.J. Brown REALTORS® in the Baton Rouge market and Noles-Frye Realty in Central Louisiana (companies owned by Latter & Blum Inc.). In 2012, The Latter & Blum Family of Companies will finish the year with nearly $1.8 billion in total sales and 8,400 total units sold.  This addition, positions Latter & Blum Inc. for continued success in the local, regional, national and global Real Estate markets.
 
“This newest alliance will lead to unprecedented financial strength, growth and breadth of service offerings,” said Bob Merrick, Chairman and CEO of Latter & Blum Inc. “Both Van Eaton & Romero and Latter & Blum are known nationally as companies that bring the highest caliber of residential Real Estate professionalism to all aspects of the business. Now with a combined strength of more than 1,300 talented sales professionals throughout Louisiana and the largest market share in each of the regions we serve, our future is filled with exciting possibilities.”
 
“Throughout the years, both Latter & Blum and Van Eaton & Romero have shared similar company cultures,” added Rick Haase, President of Latter & Blum Inc. “Our mission statements are also equally aligned, promising the delivery of exceptionally high levels of customer service. This union speaks volumes about an unparalleled commitment to delivering cutting-edge solutions to a team of extremely successful and motivated Real Estate Agents and their customers. We have essentially created an organization with unrivaled tools and services that will be appreciated by today's savvy Real Estate Agents and Consumers.”
 
“The technological, managerial, and strategic support coupled with the regional, national, and worldwide connections that we are gaining by becoming one of the Latter & Blum Family of Companies heightens our capabilities exponentially,” said CEO of Van Eaton & Romero, Bill Bacqué. “Over the past 35 years, Van Eaton & Romero has delivered an unmatched level of service and commitment to our clients, our agents, our staff, and our community. Our core values remain constant and unchanged. What will change is the range, scope, and quality of services we will now be able to provide those seeking virtually any type of real estate service.”
 
The two companies will retain their respective names, Van Eaton & Romero, REALTORS in the Lafayette market and Latter & Blum Inc./REALTORS® serving the Greater New Orleans market. With C.J. Brown REALTORS® Inc. in Greater Baton Rouge and Noles-Frye in the Central Louisiana region, these four companies represent the best in Real Estate in Louisiana. 
 
Latter & Blum, Inc., operates the largest full-service Real Estate brokerage in the Gulf South, and includes, Latter & Blum, Inc./REALTORS®, C.J. Brown REALTORS®, Van Eaton & Romero REALTORS®, Noles-Frye Realty, NAI Latter & Blum Commercial Real Estate, Latter & Blum Property Management, Latter & Blum Insurance Services, Essential Mortgage Corp. and has Franchise Operations in LA & MS. Established in 1916, the company has grown to include operations in Greater New Orleans, Greater Baton Rouge, Lafayette, Alexandria and Southern Mississippi and handles all phases of residential, commercial, leasing, property management, appraisals, insurance, title and mortgage services. 
 
 

 
 

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