Rod's Notes

Rod's Notes For Wednesday 6/26/13


 

 Rod’s Radio Show Notes June 26th 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
 
Almost a no show today our two grandson Jack Hart 5 months old and Noles 3 years old are at the house and leaving the house missing out on Tuesday evening fun with our daughter, my wife and two grandsons was nearly more sacrifice than I wanted to make and write this show last night.
 
We went to New Orleans Thursday after real estate commission meeting and the famn damily came back with us. I did pick up two New Orleans tips for fun and dining that I can share with our audience. $45 luxury hot shave at Aidan Gill fancy barber shop and new breakfast discover at 2452 Canal “Betsy Pancake House $2.50 five silver dollar pancake on children’s menu and Sunday morning’s locals this is now a grand daddy new tradition.
 
People not Property:
 
Elliott Stonecipher shared some scary numbers for Rotary program regard Louisiana’s reduction in population with movement of people earning income, paying taxes, and contributing to better life for competitive community they are moving to. Two examples of personal friends that we are exporting to Florida and Texas
 
Walter M Hunter, III & Stephanie P Hunter (385 Golfview Dr., Miramar Beach, FL 32550) to Dwain C & Julia E Sketo (49 Whittington Dr., Pineville, LA 71360) - Lot 17, Charles Park Ext., Phase I (4132 Waterford Dr., Alex., LA 71303), $275,000.00.
 
Charlie Wagner’s home is listed for sale rumor has it Charlie is moving to Houston.
 
Tip For The Week:
 
Anyone considering whether to buy a home to live in, the decision should focus on whether they can afford the payments, and other cost of ownership, regardless of where prices or interest rates might go.
 
 Every Deal Has a Tale / Tail:
 
Great news regard announcement on troop reduction realignment for Fort Polk 200 instead of possible 5,000. Best single economic development news of the decade. REA axiom for three steps for regional economic development Retain, Expand and Attract.  
 
Blockbuster, LLC (9601 South Meridian Blvd., Englewood, CO 80112) to SE BB Alexandria, LLC (3900 N Causeway Blvd., Suite 1200, Metairie, LA 70002) - 1.605 acres on or near the intersection of Parliament Dr. & Southampton Dr., $554,923.48. This sale does not pass the “scratch and sniff” test. Several offers at higher price, street rumor is one developer had 28 Blockbusters under contract and sold 11 to New Orleans Company.
 
Restaurant News:
 
Brocatos has moved to their new location on Highway 28 West the former Sharkey bar. Taking staff there this Friday if you want my autograph and photo with staff be there noon.
 
England Authority:
 
Derek Jowers (81 Dottie Lane, Boyce, LA 71409) to The England Economic and Industrial Development District - .606 acres in Sec 18, T4NR2W, $155,000.00
 
England Economic Industrial & Development District Vs Zendrea Whitehead - Vs vacate premises known as 1023 Schilling Dr., Alex., LA 71303. Very seldom residential landlord will seek and obtain judgment to tenant you moves owning money or breaking lease. England Authority probably does not have latitude to ignore and move on. 
 
Attachment two weeks activity of Noles-Frye Realty Inc. gives you a snap shot for 25% of MLS production.
 
Construction Contracts: 
 
City of Alex. to Griner Drilling Service, Inc. - 2013 Water Well Maintenance & Rehabilitation Project, $712,676.00
 
City of Alex. to Petron, LLC (1600 Harris St., Alex., LA) - Comprehensive Park Signage System, $270,300.00
 
City of Alex. to Cecil D Gassiott, LLC (1 Easy St., Alex, LA 71302) - Wooddale Outfall and Railroad Ave. Drainage Improvements, $1,074,893.00
 
Louisiana Real Estate Commission meeting update:
 
Listing agent or listing company trading in foreclosed properties when marketing agreement prohibits.
 
E-Clips on Utube for learning
 
6th year in a row number of licensed agents has decrease the fall out is smaller this year but still a decline
 
(+5.00 Perfect Score 4 Weeks In a Row) Perfect Score!
 
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 June 17, 2013 through June 21, 2013 most recent 5 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:
 
50 Transactions volume of $5,942,221 nearly $6,000,000 largest commercial sale Blockbuster $554,000 largest home sale $539,000 Rue Left Bank
 
900 homes sold last month in Houston not sure what that tells us but it sure is impressive.
 
Best curb appeal for new listing: 1820 White Street $395,000 Martha Bradford’s listing. I drove by it yesterday on way back to the office from Washington Square mentioned on June 4th and noticed yesterday it was under contract
 
(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market provided two
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Debra R Davis (P O Box 3195, Pineville, LA 71361) - 3.05 acres in Sec 42, T4NR1E, $48,000.00
 
Cloverdale Enterprises, LLC to Terrick S & Shawntell L Harrell (5726 Samuel St., Alex., LA 71302) - Lot 23, Ashton Colony, $43,000.00
 
Best Price reduction for the week: 15 acres on Lee Street across from Ratcliff Construction was $459,000 is now $150,300. Mentioned this on June 4th and it has not been sold.
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week the market gave us a single sale but positive score.
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Steven M & Brittany N Schaefer (5803 Toria Dr., Alex., LA 71303) - Lot 254, Bocage Subd., Phase VI (5803 Toria Dr., Alex., LA 71303), $231,000.00
                                   
(+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 five sales total volume of $294,654 / $5,942,221= 4.956% just below 5% but still positive score.
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to James L Gates, et al - Lot 14 of a resubdivision of Lot 7, Cruz Subd. (8435 South Hwy. 71, Unit A, Lacompte, LA), $122,000.00
 
Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to J K Homes, LLC (2103 Kimberly St., Alex., LA 71301) - Lot 23, Lynwood Acres, Rev. # 2 & mobile home (288 Stovall Road, Alex., LA 71303), $21,000.00
 
J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Brett J Chelette (403 Mudge Road, Boyce, LA 71409) - 1.96 acres in Sec 69, T4NR3W (403 Mudge Road, Boyce, LA 71409), $30,000.00
 
Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to Michael S Fuqua (180 Stilley Road, Pineville, LA 71360) - 1.42 acres in Sec 16 & 17, T4NR1E (180 Stilley Road, Pineville, LA 71360), $100,155.00
 
The Bank of New York Mellon (2375 N Glenville Dr., Richardson, TX 75082) to Martin D & Theresa G Roshto (1008 Robin Run, Woodworth, LA 71485) - Lot 14, Sq 27, Kent Addn. (3211 Hynson St., Alex., LA 71301), $21,501.00
Interest rates, historically low but up from last year down from last week: 30 year rate was 4.51% this week is 3.98%, the 15 year rate was 3.57% this week it is 3.09%.
 
$200,000 mortgage at 3.98% for 30 years is $952.53
at 4.51% note payment is $1,014.51
at 5.5% note is $1,135.59
 
Tip For The Week:
 
Anyone considering whether to buy a home to live in, the decision should focus on whether they can afford the payments, and other cost of ownership, regardless of where prices or interest rates might go.
 
Economist article page 34 titled “A lighter ball and chain”
 
During the boom years, circa 2006 Americans borrowed and binged. The hangover has been long and throbbing, but after7 years of water and aspirin, house hold finances are looking healthier.
 
Bullet points from article
 

1.    4Q12 average debt service ratio fell to its lowest levels since 1980
2.    People have been paying down unmanageable old debts and taking out fewer and       smaller new loans.
3.    Rising home prices helped homeowners 1.7million escape under water situations on home debts greater than values
4.    Household net owrth at $70.3 trillion hit all-time high
5.    Home-ownership down to 65% in 1Q13 down from 69% in 2005
6.    Interest rates tumbled from 7% for 30 year fixed to 3.4% in late 2012 are now 4.51% and going north but relief has helped. 
 
 

 
 

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