Rod's Notes

Rod's Notes For Wednesday 6/5/13


Rod Noles Property Management, Inc.

 

 Rod’s Radio Show Notes June 5th 2013

 

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

 
Stories of our Sojourn:
 
London and Scotland
43 hours get from Alexandria to London
London to Scotland flight 90 minutes turned in 9 hours
Sister in Law is from Scotland I was there as proud great uncle at open house for Fiona to show off her first grand daughter
 
Scotland in May is one of the most beautiful landscapes in the world. Greg O’Quinn called day before we departed
 
First time to London did the tourist thing
 
Small world Winston Churchill’s command bunker…do not say who for security reasons
 
Tube to Paddington and train to Highclere Castel site for filming of PBS series Downton Abbey
 
Making this trip any time soon email me and I will share my notes
 
Every Deal has a Tale / Tail:
 
Former Office Max. Concourse Realty Associates I, LP (2432 Grand Concourse, The Bronx, NY 10458) to Gary W & Pamela S Babineaux (2600 WPA Road, Sulphur, LA 70663) - 2.176 & 9.989 acre tracts being part of West End Retail Center, $1,325,000.00. Super-Size fitness center that’s the rumor
 
Gates LP (P O Box 12007, Alex., LA 71315) to Weil Co., Inc. (P O Box 1548, Alex., LA 71309) - Part of Blk 46, Alex Land & Improvements Clarence Park Addn. (1766 Jackson St., Alex., LA 71301), $130,000.00. Weil Company relocates headquarters Jimmy and Joe Betty
 
Garland H Johnson, Jr. & Laneta P Hayes (6527 West End Blvd., New Orleans, LA 70124) to Boomer Investment Properties, LLC (147 Sunridge Dr., Alex., LA 71302) - Part of Blk 63, Clarence Park Addn. (2124 Jackson St., Alex., LA 71301), $250,000.00. Kenny Daniels continues to build a solid portfolio
 
Robert B Neblett, III, et al (6 Beecher Lane, Austin, TX 78746) to James B Vanderhoeven (P O Box 11638, Alex., LA 71315) - 78.23 acres in Sec 1, 2, 39, & 41, T2NR1W, $375,000.00. Good acreage home sites are popular, rare, and expensive but I think they are a great investment. 
 
William G Leckie (5001 Plantation Road, Alex., LA 71303) to Steven Seale Properties, LLC (110 Ward Road, Boyce, LA 71409) - Lot 8, Alexandria Medical Village, $118,000.00. Rumor is Steven Seal is opening his own real estate brokerage and investment company.
 
Usual Company Names for LLC and Corporations:
 
Home Folks Drive-In, Inc., et al Judy and Robert Hudspeth (50 Lucan Road, Deville, LA 71328) to CDR Adventures, LLC (195 Big Island Loop, Deville, LA 71328) - 1.69 acres in Sec 9, T4NR3E (1627 Hwy. 115, Deville, LA 71328), $65,000.00
 
Acquisitions Investment Group, LLC (702 Belview Road, Leesville, LA 71446) to Light It Up, LLC (2312 S MacArthur Dr., Alex., LA 71301) - Tract in Sec 9, T4NR1E, $50,000.00
 
Bailey Hotel in Bunkie for sale at $198,500 contact our office or Ronnie Chatlain 318-838-2439
 
Five Star Furniture having real going out of business sale, this is second furniture store this year to close in Central La.
 
Whitney/Hancock closing branches announced first week in May
The CEO of Hancock Holding Co., the parent company of Whitney Bank, said today between 40 and 45 branches will be closed within its five-state footprint by the end of the year.
 
Hancock President and CEO Carl Chaney announced the closures during a presentation at the Gulf South Bank Conference, which is being held this week at the Ritz-Carlton Hotel in New Orleans. Chaney declined to name the specific markets where the closures will occur as the company is still notifying employees of the plans, but said the closures will have “little impact” on its core New Orleans and Mississippi Gulf Coast markets.
Now we know 3 local branches are involved what might that mean from real estate view point?
 
People not Property: 
 
Charles Cooper passed away last week at age 89. Friend, neighborhood, and client, once called the show and said “you are one rotten neighbor” (share story with audience)
 
Dr. Doug and Patsy Gamburg have moved from Central La.
 
Construction Contracts: 
 
Town of Lecompte to Progressive Construction Co., LLC - Weems Canal Improvements, $198,476.50
 
Tip for the week: use legal recorder to search evictions on line as part of your tenant application process.
 
(+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. Since I was gone for past two weeks this is double count week.
 
Legal Recorder Data: Business days from May 20, 2013 to May 31st, 2013 most recent 10 working days.
 
(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:
 
86 transactions in past two weeks $11,410,187. Largest sale was $1,325,000 volume was large enough for positive score during last two weeks in May
 
(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market provided six sales for past two weeks only needed two for positive score. Five of six sales was from developer’s inventory.
 
Eddy F & Kathleen P Soberon (1613 Emberly Oaks, Alex., LA 71301) to Nicholas M & Saana J Virden (135 B Maxey Road, Pollock, LA 71467) - Lot 95, Woodlands, Phase VI, $44,000.00
 
Weilland Enterprises, LLC (316 Johnston St., Alex., LA 71301) to Lou Y Clayton (101 Rue Donahue, Pineville, LA 71360) - Lot 119, St. Andrews Links Estates, Phase III, $36,000.00
 
Vanmol & Sons, LLC (9374 Hwy. 1655, Woodworth, LA 71485) to Jerry & Wendy L Killian (401 Ocho Rios Lot 2, Pineville, LA 71360) - Lot 2, Ocho Rios Subd., Phase 1-A, $27,000.00
 
Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 274, Bocage Subd., Phase VI (5810 Toria Dr., Alex., LA 71303), $25,000.00
 
Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 267, Bocage Subd., Phase VI (5914 Toria Dr., Alex., LA 71303), $25,000.00
 
Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 276, Bocage Subd., Phase VI (21 Ragan Dr., Alex., LA 71303), $25,000.00
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week the market gave us two for last two weeks in May not a barn storming activity but enough for positive score. 
 
ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Chili K Vinson (100 Joy Lane, Pineville, LA 71360) - Lot 1, Marie Acres Subd., Phase I (100 Joy Lane, Pineville, LA 71360), $145,400.00
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Patricia A Smith (117 St. Andrews Dr., Alex., LA 71303) - .487 acres in Sec 53, T4NR2W (117 St. Andrews Dr., Alex., LA 71303), $259,365.00
 
(-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 8 sales with total volume of $892,401 / .05 = $17,848,020 which is point of required volume to rate positive score. Total volume was $11,410,187 which represents 7.82% ($892,401 / $11,410,187 = 7.82%) for negative rating past two weeks
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to JRC Development, LLC (409 Vickie Lane, Alex., LA 71303) - Lot 23, Sq B, Crawford Addn., et al (220 24th St., Alex., LA), $49,000.00
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Tanner A Messina, Jr. & Gwendolyn B Messina (6701 Bayou Rapides Road, Alex., LA) - Lot 10, Sq 6, Homewood Place, et al (19 Tennessee, Alex., LA), $75,000.00
 
Bank of America (400 National Way, Simi Valley, CA 93065) to Fannie Mae (2001 Bryan Tower, Suite 1200, Dallas, TX 75201) - Tract in or near Lot 42, Brookhaven Subd. (5997 Valerie Dr., Alex., LA 71303), $103,264.81
 
U S Bank (2711 North Haskell Ave., Suite 100, 15th Floor, Dallas, YX 75204) to Andrew N O'Neal (2307 Horseshoe Dr., Alex., LA 71301) - Lot 3 & part of 2, White-Gates Subd. (2307 Horseshoe Dr., Alex., LA 71301), $82,900.00
 
Homeland Federal Savings Bank (3941 South First St., Jena, LA 71342) to Trustland, LLC (5615 Jackson St., Building L, Suite D, Alex., LA 71303) - 3.416 acres in Sec 3, T1SR3W, $10,000.00
 
Deutsche Bank (1661 Worthington Road, Suite 100, West Palm Beach, FL 33409) to Fred H & Robin A Ruggles (5126 Mallard Dr., Alex., LA 71303) - Part of Lots 316 & 317, Charles Park Addn. (500 Wycliffe Way, Alex., LA 71303), $305,299.00
 
Midfirst Bank (999 NW Grand Blvd., Oklahoma City, OK 73118) to The Sec. of Veterans Affairs (6900 Almeda Road, Houston, TX 70730) - 2 acres in Sec 45, T5NR1E, $114,273.74
 
Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000. Dallas, TX 75254) to Brad A & Arminda J Tompkins (207 O'Neal St., Pineville, LA 71360) - Lot 56, Lake Hills Subd. (425 Azalea Ave., Pineville, LA 71360), $152,665.00
 
Interest Rates, Third Week of Slight Increase:
 
30 year rate was 3.88% this week is 4.16%, the 15 year rate was 3.03% this week it is 3.32%.
 
 
 

 
 

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