Rod's Notes

Rod's Notes For Wednesday 02/13/13

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). KSYL has now added Wednesday evening encore at 8:00 pm


Every Deal has a Tale / Tail:


Couple of weeks back I mentioned trade publication that announced Block Buster would be closing more stores. The company released a list of store closings for the country. Two stores were in our area both in Leesville, 3 stores in New Orleans, one in Monroe and one in Hammond.


Two sales reported in last few weeks on highway 165 that accrued between Pineville High School and Cottingham Expressway. The community has underestimated the impact of $82 million dollar bridge completion will have on 165 corridor. If you package this with the lift on ban for alcohol sales in Pineville you might consider it a good time to own land on 165 or 28 East. Good people can argue if alcohol sales will or will not be healthy for Pineville but it is hard to argue over missed real estate sales due to lack of alcohol sales.


D & J Investment of Cenla, LLC, James Greer et al (P O Box 1719, Tioga, LA 71477) to E P Capital, LLC Eric Petroskey (277 LaCroix Road, Pineville, LA 71360) - 1 acre in Sec 12, T4NR1W, et al, $650,000.00. The tenant is automotive collision center and the sale includes vacant land next door. James Greer purchased large warehouse complex yesterday and since it is not in the legal news yet I will wait until next week to announce.


Bonner's Properties of Cenla, LLC (2600 Monroe Hwy., Pineville, LA 71360) to Redmon's Automotive Clinic, LLC (2600 Monroe Hwy., Pineville, LA 71360) - 1.91 acres in Sec 1, T4NR1W, $675,000.00


Two sales this week by MRL LLC registered agent William Barron


MRL, LLC (P O Box 3401, Pineville, LA 71360) to Commercial Partners, LLC (3219 Marye St., Alex., LA 71301) - 40 acres in Sec 31, T5NR2E, et al, $83,500.00


MRL, LLC (P O Box 3401, Pineville, LA 71360) to Mid South Retirement Services, LLC Jerry Pearson for the benefit of William F James, Jr., et al (90 Harold Miles Park Road, Boyce, LA 71409) - 40 acres in Sec 42, T4NR2E, $90,000.00


C & A Development of Cenla, LLC Carroll Wayne Johnson (P O Box 13295, Alex., LA 71315) to Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) - 6.08 acres in Sec 13, T5NR1W, $185,000.00. Looks like a parcel of real estate to develop.


Flowers Food Inc. based in Thomasville, Ga. Is stalking horse for bankruptcy auction in mid-March offering $360 million for 20 plants, 38 depots and brands that include Wonder and Nature’s pride. I am curious what this means to our closed bakery in Central La.


Pines Casino opens in Creola I will make a weekend visit and report next week. I totally agree with Fred Rosenfeld’s comment about the tribe’s tenacity and can well remember option on land adjacent to Cowboy Town the site of new Sundrop Fuels plant. It is a shame that joint venture partner HK Stanley did not live to see the opening of this casino.


Closer to home rehab following Christmas day tornado at Washington Square is nearly completed on larger building. 13,000 square foot building at 16th street is still opened to the elements and final plan is still undecided. Tenants, City, Vendors, and Hartford Insurance have come through with very high marks and much appreciation.


Emails from Listeners:


Meant to advise you earlier but we had 101 Yorktown listed. Also have good activity in Plaza 28 with Allstate administrative office, Goodwill administrative office under construction, a home health will go under construction soon as well as two leases on the Wal-Mart side that I cannot elaborate on at this time. Enjoy your show!



Maurice L. Hebert, CCIM



Boom Times Return?


We know now that 2012 was a very good year for housing in Acadiana. In Lafayette Parish the number of home sales reported to the REALTOR Association of Acadiana Multiple Listing Service (MLS) rose by 22.5% over 2011. New Construction home sales increased by over 30%, while sales of previously owned homes rose by 19%. Although sales did not attain the levels of our post-Katrina/Rita years of 2006 -2007, we ended 2012 pretty close to those record years.


So what might 2013 hold for us? Of course, only one month’s data is not sufficient evidence to predict any sort of trend, but in our attached January 2013 report one certainly can’t repress a feeling that 2013 may end up being our best year ever in residential sales. Here are some of the notable numbers notched up in January:


·         The number of Lafayette Parish closed home sales reported to the MLS in January (199) was up by 43% over January 2012 (139). New Construction sales rose by 41% while re-sales were up by 44%. While those are impressive statistics, even more impressive is that, according to my monthly sales tracking data, the closed sales reported this January was an all-time record breaker. The closest past January number reported was in January 2007 when 173 sales were reported to the MLS (Page 2).


·         The $41,293,473 volume of January’s Lafayette Parish closed home was also record setting with January 2007’s $33,749,940 being the closest to date. Both new construction with a 53% increase and re-sales with a 94% increase over January 2012’s respective dollar volume registered impressive gains (Page 4).


·         Evidence that demand remains extremely strong, the number of Lafayette Parish pending home sales reported in January rose by over 30% over January 20012. The 306 reported pending sales was also a record breaker exceeding the 298 previous record reported in January 2007. So too for the $61 plus million in dollar volume of pending sales reported in January. This bested the previous January record reported in January 2007 of just over $60 million (Pages 6 and 8).


·         As far as the balance of supply and demand, Page 14 of the report shows that January 2013 ended with a 5.2 overall number of month’s supply of housing in Lafayette Parish. This is down from 8.2 month in January 2012. Both re-sales and new construction saw their respective number of month’s supply drop in January 2013 as compared to January 2012 (Pages 15 and 16).


Again, one month’s data is not sufficient to predict any trend, but considering the strength that our housing market has shown heading into 2013, one cannot help but ponder as to whether the boom times are back.       


William J. "Bill" Bacque


Van Eaton & Romero, LLC

A Latter & Blum Company



People not property: 


Cheryl Smith Jena Choctaw’s Chief remained in leadership roll all these years while struggling to open their casino. The fact that you can buy alcohol now in Grant Parish at the Casino might be the tipping point for Applebees and glass of wine in Pineville.


Stephen Wright CEO of Christus St. Frances Cabrini Hospital gave great speech on power of inclusion and diversity. Stephen said “if you are not deliberate, it’s not going to happen” I could not agree more needs to begin with our family, our business, our clubs, and our community.


Terry Bradshaw Today in America segment highlights Pineville. Share story of Bradshaw as fraternity brother at La. Tech.


Construction Contracts:


Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Sam's Air Conditioning Maintenance Service, Inc. (P O Box 5376, Alex., LA 71307) - Renovations to Pineville Jr. High School, $271,500.00


Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Hahn Enterprises, Inc. (P O Box 19495, New Orleans, LA 70179) - Pineville Jr. High School Bleachers, $43,900.00


Cenla Occupational Medicine Services (4219 Hwy. 28 East, Pineville, LA 71360) to The Migues-Deloach Co., LLC (2712 Davis Dr., Pineville, LA 71360) - Cenla Occupational Medicine Services project, $517,160.00



List of closed announced Blockbuster stores in America


Mykoff Absorption report:

9.53    total market 791 homes listed / 83 sold = 9.53 with 156 new listings

26        above $400,000 total market 26 homes listed 0 sold 2 new listings

18.4    $250,001 to $400,000 with 92 homes on market / 5 sold = 18.4 and 19 new listings

11.1    $150,001 to $250,000 with 234 active listings / 21 sold = 11.1 and 45 new listings

7.7       under $150,000 with 439 / 57 sold = 7.7 and 90 new listings.


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. 


(+3.75) Legal recorder data: business days from time period of February 4th though February 8, 2013


(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: 34 sales with low volume of $3,797,615 below target for positive rating.

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


Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Robert L & Noel A Fontane (6417 Audubon Oaks, Alex., LA 71301) - Lot 189, Tennyson Oaks Subd., Phase 7C (6416 Arden Oaks, Alex., LA 71301), $62,500.00. Only 5 lots remain in inventory at Tennyson Oaks three buys have purchased the adjacent lot or the lot behind their house.


Randy D & Angela B McCain (220 Hudson Creek Road, Colfax, LA 71417) to Mark A & Pamela S Chandler (8113 Titleist Dr., Pineville, LA 71360) - Part of Lot 7, Titleist Ext. Subd., $50,000.00


Cogent Equity, Inc. (1412 Centre Court, Suite 500, Alex., LA 71301) to Jason S & Stacey L Babb (570 Williams Lake Road, Pineville, LA 71360) - Lot 5, Oakbrook Subd., $17,500.00


(+1.25) New home sales: looking for one new home sale market gave us one sale


Brittain & White Construction (5512 Jackson St. Ext., Alex., LA 71303) to Jerry L & Janice S Voorhies (66 Foxfire Lane, Alex., LA 71302) - Unit 420A, The Cypress Point at Lake District Condominiums (420A Ansley Blvd., Alex., LA 71303), $289,500.00


(+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 only one sale $75,590 / $3,797,615 = 1.99%


Sec. of HUD to William S & Rebecca F Byrd (49 Credeur Road, Pineville, LA 71360) - Lot B of a resubdivision of Lots 8-1- & part of 11 & 12, Mabry Subd. (102 Audrey Dr., Pineville, LA 71360), $75,590.00


Interest rates: 30 year rate was 3.59% this week is 3.60%, the 15 year rate was 2.93% this week it is 2.89%, the 5/1 ARM was 2.81% now 2.77%.


Cap Rates Contract in Auto Parts Sector

Capitalization rates for auto parts chains, including AutoZone, O’Reilly Auto Parts, and Advance Auto Parts, compressed from 4Q11 to 4Q12, according to The Boulder Group’s National Auto Parts Net-Lease Report. A shortage of both investment-grade assets below $2 million in the net-lease market and newly developed assets contributed to the compression. Median asking cap rates remained relatively consistent across the country at a 7 percent

Perkins Rowe auction date set for March By Bill Lodge Advocate staff writer

The foreclosure auction of the mixed-use Perkins Rowe development is scheduled at 10 a.m. March 20 at the U.S. District Courthouse, 777 Florida St. The minimum bid must be at least $63.5 million. KeyBank National Association, an Ohio, filed its foreclosure action in July 2009. The lender had not received any payments on $170 million in construction loans since October 2008. Spinosa, who personally guaranteed his firms’ Perkins Rowe debts, owes the bank $201.9 million. The judge added that interest would continue to build at a rate of $32,510 for each day after Aug. 15. Perkins Rowe has 87 condominiums, 226 apartments, more than 60 shops and restaurants, a bookstore, grocery store, fitness center, a movie complex and a pharmacy. A sale of Perkins Rowe for $63.5 million would shrink KeyBank’s loss to approximately $131 million.


Dunkin’ Donuts plans 11 locations in N.O. Dunkin’ Donuts has signed agreements with two franchise groups to develop 11 new restaurants throughout New Orleans over the next several years. Alaa and Dhiya Esmail plan to develop six restaurants in New Orleans, with the first opening this year and the others by 2016. BBC Foods LLC, led by Bhavin and Bharat Chauhan, will develop five restaurants, with the first opening in 2014 and the remainder by 2018.As part of its expansion in Louisiana, Dunkin’ Donuts said it still has franchises available in New Orleans, Lake Charles, Lafayette, Alexandria and Monroe





Last Week

YTD return %









S&P 500








Russell 2000





Consumer Money Rates



1-year ago

Prime Rate



Fed Funds



30-year mortgage







1-year ago

Dollars per British Pound



Dollars per Euro



Japanese Yen per Dollar



Canadian Dollars per Dollar



Mexican Peso per Dollar







1-year ago

Crude Oil






<br />

Bond Rates



1-month ago

2-year treasury



10-year treasury



10-year municipal (TEY)




God Bless America!

970 KSYL On Air Now
Mark Levin
Mark Levin
5:00pm - 8:00pm
Mark Levin
Alexandria, LA
Cloudy 72°F
  • 59% humidity
  • Winds at 3 mph
Full Forecast

The KSYL Morning Report

Monday Thru Friday 7:10a


Dave Graichen

Click Player To Listen


The CBS World News Roundup

Click Logo To Listen To Latest Broadcast




This Is OUR News Commitment!


Local News
On Twitter


All Weekend Long

It's a

Political Free Zone!

Rod Noles, Kim Komando, Gary Sullivan, The "Weekend" Roundup, Leo Laporte, Art Bell, The Real Estate Show, Bill Handel, Chef John Folse "Stirin' It Up" The "Talk Radio Countdown"..

A Veteran Died Today

Lynn Rollins

"A Veteran Died Today"

Click Lynn's Picture To Listen..

Chef John Folse

Chef John Folse & Company

"Stirin' It Up"

Saturday At Noon!




Eastleigh Farms

Eastleigh Farm

LinkedUpRadio Envisionwise Web Services