Rod's Notes

Rod's Notes For Wednesday 03/27/13

Rod Noles Property Management, Inc.


 Radio Show Notes March 27th 2013
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:
Absolute auction for 19 condos downtown on Cane River in Natchitoches April 27th  Janice Bolton Realtor from Natchitoches will call in with more information about the properties and the auction. 
Estate of L D Kellogg, Jr. & Joann W Kellogg (4314 Willowick Blvd., Alex., LA 71303) to Ballina Farms, Inc. (4615 Parliament Dr., Suite 101, Alexandria, LA 71303) - Tract fronting 50' on Parliament Dr. (4008 Parliament Dr., Alex., LA 71303), $125,000.00
Progressive Construction Co., LLC (P O Box 11594, Alex., LA 71315) to Montasser Jabbar (206 Chloe Lane, Pineville, LA 71360) - 10 acres in Sec 12, T3NR2W, $85,000.00. Tract on Twin Bridges Road near Barbara Bonnette’s auction house
Noles-Noles, LLC (4615 Parliament Dr., Alex., LA 71303) to Lucy M & Jerry Baker (3609 5th St., Alex., LA 71302) - Lot 9, Cripp Addn., $47,000.00. Selling agent was: TuLena Francis I have attached her business card.
TuLena Francis, REALTOR
Noles-Frye Realty, Inc.
A Latter & Blum Company
(o) 318-445-7653
(c) 318-290-1902
(f) 318-473-1577
I could not attend Pineville Town Hall Meeting Yesterday: I was reminded about comment from local doctor at public meeting, where I asked the doctor if he was here for something or against something. He said, “I wouldn’t be here if I was for something.” From the Town Talk article it appears both sides on passionate issue showed up to voice their opinion.
England Economic & Industrial Development District:
Zero sales for the week
People not Property: 
JoAnn Kellogg leaving town sold 4008 Parliament Drive to our investment group and house is sold to local doctor and JoAnn is moving near her children in Florida. JoAnn was community leader serving on school board and many local organizations our community will miss her charm and leadership.
Construction Contracts:
Rapides Parish School Board (619 Sixth St., Alex., LA 71309) to Interstate Restoration, LLC (3401 Quorum Dr., Suite 300, Fort Worth, LA 76137) - Martin Park Elementary School Fire Restoration Phase One, $1,134,000.00
LA DOTD to Progressive Construction Co., LLC - LA 3144 intersection improvement at LA 28, $159,999.71
(5) 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 March 18th though March 22nd
(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. 
Do Not put yourself in position for lender to force place your insurance: Many loans where lender is loss payable if bank receives notice that insurance has lapsed they can force place your insurance. Meaning the bank will buy insurance for the property and add cost to your loan balance. Ask yourself which is probably cheaper me shopping and buying my own insurance or lender placing coverage for me. In some cases lender owns insurance company and other times they receive a commission on sale of force coverage. Don’t let your insurance expire.  
(+1.25) Total Weekly Volume:
48 sales $4,331,638 rates positive score for the week.
Wall Street Journal Article:
Existing home sale reach a 3 year high and more people put their properties up for sale signs that the housing market continues to improve ahead of the crucial spring selling season. 4.98 million existing-home sale based on seasonal adjustment highest rate since November 2009. Nationally sales were 10.2% above same time last year marking 20th consecutive month of year-over-year gains. Inventory of existing homes for sale nationally is 1.94 million represents 4.7 month supply locally it is closer to 9 month’s supply. This past week 1.7 million home owners were no longer “under water” with their mortgages. Our market last week did not have a single lender sale.
Single-family housing starts were at five year high in February and were up more than 30% from the same period last year. Our market this week recorded the highest number of lot sales to contractors that I have seen in five years. 
(+1.25) Lot Sales:
To rank positive score need one sale per week the market provided 9 lot sales and 7 were from developer’s inventory.
B&B Office Holdings, LLC (P O Box 2167, Prairieville, LA 70769) to Three B Construction, LLC (P O Box 2167, Prairieville, LA 70769) - Lot 27, Shadow Creek Ranch Subd., Phase I, $36,000.00
B&B Office Holdings, LLC (P O Box 2167, Prairieville, LA 70769) to Three B Construction, LLC (P O Box 2167, Prairieville, LA 70769) - Lot 28, Shadow Creek Ranch Subd., Phase I, $36,000.00
Alan S & Kayla A Atkinson (4659 Blaise Rd, Maurice, LA 70555) to Randy D Duck (228 Miller Circle, Oakdale, LA 71463) - Lot 21, Indian Creek Park, 2nd filing (180 Belle Trace, Lecompte, LA 71346), $36,600.00
Albert R & Wanda C Waites (160 H Bryant Road, Deville, LA 71328) to Kellett & Rose L Babb (150 H Bryant Road, Deville, LA 71328) - 1 acre in Sec 8, T5NR3E, $29,500.00
Bocage Subd. Of Alex., LLC (1223 MacArthur Dr., Alex., LA 71303) to Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) - Lots 260, 264, 265, Bocage Subd., Phase VI, $118,500.00
Heritage Development and Construction, LLC (3008 Hwy. 28 East, Pineville, LA 71360) to Melot Construction, LLC (115 2nd St., Colfax, LA 71417) - Lots 9-12, Rue Donahue Subd., Phase 2, $76,000.00
(+1.25) New Home Sales:
Looking for one new home sale per week the market gave us three
Campbell's Construction, Inc. (8246 Old Hwy. 71 North, Pineville, LA 71360) to Brian M & Melissa N Smith (451 Grover Atwell Road, Pollock, LA 71467) - 1.43 acres in Sec 15, T5NR1W (220 Ates Road, Pineville, LA 71360), $135,000.00
Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) to Jason T Rouse (5445 Provine Place # 1515, Alex., LA 71303) - Lot 6, Belle Chase Subd., $225,000.00
Malcolm L & Rebecca A Burns (1985 Philadelphia Road, Deville, LA 71328) to Alexandra M Quitta & Clyde C Bailey (212 West Lakes Dr., Alex., LA 71303) - Lot 40, West Lakes Estates Subd., $195,000.00
(+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 zero sales first time in many months that there was not a single lender sale.
Dation in progress: Stone Financing, LLC (16260 North 71st St., Scottsdale, AZ 85254) to Richard T & Paula K Young (1012-A Norman Dr., Alex., LA 71303) - Lot 178, Good Earth Subd., Tract Iii, 2nd Rev. (109 Ragan Dr., Alex., LA 71303),
$151,500.00……Joseph G & Susan A Ripka to Stone Financing, LLC (16260 North 71st St., Scottsdale, AZ 85254) - Lot 178, Good Earth Subd., Tract Iii, 2nd Rev. (109 Ragan Dr., Alex., LA 71303), $151,500.00
Interest Rates:
Third week of slight increase: 30 year rate was 3.75% this week is 3.64%, the 15 year rate was 2.85% this week it is 2.97%, the 5/1 ARM was 2.82% now 2.70%. Rates for 30 year fixed will be north of 4% by June and could be above 5% by year end.



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