Rod's Notes

Rod's Notes For Wednesday 07/24/13


Radio Show Notes July 24th 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

 
 
Every Deal has a Tale / Tail:
 
O’ Riley’s auto parts. KDBPG, LLC (10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) to Yahweh, LLC (1423 Lee St., Alex., LA 71301) - Tract in Sec 7, T4NR1E, $1,365,000.00. Loan Yahweh, LLC (5015 Hwy. 71, Tioga, LA 71477) to Red River Bank (1412 Centre Court, Alex., LA 71301) - Tract in Sec 7, T4NR1E, $874,855.11
 
Felica S Coney, et al (24 Fairway Dr., Auburn, ME 04210) to Trotters of Alexandria, LLC (5003 Masonic Dr., Alex., LA) - Part of Lot 1, Sq 20, Old Town Addn., $150,000.00. Property next door to Sentry Drugs third parcel that Trotter has purchased between Johnston Street and Murray. Three owners in the full square ½ block owned by Mike Jenkins, Sentry Drugs and rest of block is now owned by Trotter.
 
Price Co Development Corp. (1935 Melrose St., Pineville, LA 71360) to Sauve Properties, LLC (P O Box 12592, Alex., LA 71315) - Tract fronting 64.7' on Main St., Pineville, LA (208 Main St., Pineville, LA 71360), $90,000.00
 
Price Co Development Corp. (1935 Melrose St., Pineville, LA 71360) to Coast to Coast Property, Inc. (1309 Windsor Place, Alex., LA 71303) - .64 acre tract running 189.7' along southern boundary of Old Marksville Road, $117,000.00
 
Philip W Serio (808 Welwyn Way, Alex., LA 71303) to Ritchie Properties, LLC (1268 Dorchester Dr., Alex., LA 71303) - Lot 111, Grundy Cooper Subd. (5221 Melissa Loop, Alex., LA 71303), $54,500.00
 
Bank News & Local Real Estate.
 
Sabine Bank is the buyer for three Whitney locations. Good news for Sabine and good news for local banking industry our market does not need another bank at this time.
 
Capitol One closing 28 West branch as of October following national trend of fewer bank branches look for other consolidation in the future. 
 
Thiels Post Office on Government Street will be closed. Curious how long it will take the Post Office to dispose of this real estate.
 
1921 Jackson Street restaurant now open and I was truly impressed with my first visit. Those that complain we don’t have enough local eating establishments need to support the ones we have. Stop by and spend your money at this new establishment.
 
St. Francis Xavier Academy three stories building from 1897 is going through $1,000,000 capital campaign renovation. Tudor Construction is the contractor and Barron, Hienberg, and Brocato is the architectural firm. The Cathedral choir member jack Randall is long time architect with BH&B.
 
Vidalia plant announced new $100 million dollar pellet plant by Hinter-land LLC. When new jobs are created in the region it helps everyone we are competing with the world economy and not with the community next door, I like to think “what’s good for my neighbor is good for me.”
 
People not Property:
 
Dean Graziosi $2,000 seminar in Bossier City last week on how to make a fortune in buying real estate? Did any of our audience attend seminar and curious if you thought it worth the $2,000.
 
Mayor Roy and his staff for moving quickly to cure title problem on City Park where it was discovered that the lot line stopped in the middle of Bayou with no connection to City Park Avenue. The City moved fast to make sure deal closed on time saving the tax payer from paying higher interest rate and they also cleared up the over sight for other owners along the bayou. 
 
John Cotton Dean regional food systems planner with CLEDA is sowing good seeds in our local food program within the region. Colfax now has 10 vendors at twice a month farmers market Saturday and Tuesday mornings. If you have shopped at the market give us a call.
 
England Economic and Industrial Development District:
 
David & Mary Philpot (440 Moss Point Dr., LA 71409) to The England Economic & Industrial Development District - 4 acres in Sec 11, T4NR2W, $166,500.00
 
Cindy S & Jerry W Gentry (384A Moss Point Dr., Boyce, LA 71409) to The England Economic & Industrial Development District - Part of Lot U, Bayou Grosse Park, Ext. 2, $125,000.00
 
Tips for the week:
 
Pay attention to the time allowed for closing and keeping your interest rate locked. Good agent can keep you posted and move the approval process forward. However, the buyer needs to manage their part by moving quickly to provide lender with required documents and take some risk with ordering appraisal and title abstract prior to loan approval. $450 for appraisal and $300 for abstract could be small risk to beat dead line for closing date necessary to save your rate.
 
 Construction Contracts: 
 
Zero recorded contracts for the week.  
 
(+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:
 
5 business days from time period of July 15th through 19th
 
(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:
 
We need 40 sales for the week to rank positive score for the week the market gave us 51 sales for total volume of $6,137,708 for positive score.
 
Lot Sales:
 
To rank positive score need one sale per week the market gave us zero partly due to reduction in available inventory and partly to continue dearth in construction locally.
 
(+1.25) New Home Sales:
 
Need a single sale for the week to rank positive score this week market provided
 
Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Chanthoeun & Quaneshia S Poul (615 Hwy. 1204, Ball, LA 71405) - Lot 1, Tres Bon Subd., Phase 1, Rev. 2, $138,000.00
 
(-1.25) Lender Sales:
 
Total lender sales needs to be less than 5% of total sales this week the market provided 9 / 51 = 17.64% of total sales with volume of $777,900 / $6,137,708 = 12.67% as percent of total volume for negative ranking. Average sales price was $106,842
 
LPP Mtg., Ltd. (7195 Dallas Parkway, Plano, TX 75024) to Ashley A Carter (6239 Upper Donahue Ferry Road, Pineville, LA 71360) - 3.26 acres in Sec 14, T5NR1E (6239 Upper Donahue Ferry Road, Pineville, LA 71360), $125,000.00
 
Capital One, NA (2318 Richmond Road, Texarkana, LA 75503) to Robert G Fuller, et al (16 Knotty Pine, Texarkana, TX 75503) - Tract in Sec 14, T1SR3W
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Gueringer Builder, Inc. (401 A Mary St., Alex., LA 71303) - Lot 39, Crossgates, Phase III, et al, $90,000.00
 
HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Christian Thomason (503 Huckleberry Trace, Ball, LA 71405) - Lots 185 & 186, Pinebrook Estates Subd. (503 Huckleberry Trail, Ball, LA 71405), $76,000.00
 
HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Gary A & Ashley R Moreau (4807 Whitefield Blvd., Alex., LA 71303) - Lot 229, Charles Park Addn., $170,000.00
 
J P Morgan Mtg. Acquisition Corp. (4708 Mercantile Dr., Ft Worth, TX 76137) to Rantan Properties, LLC (411 Vickie Lane, Alex., LA 71303) - Lot 299, Charles Park Addn. (400 Windermere Blvd., Alex., LA 71303), $149,900.00
 
The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to David L & Glenda N Rosier (20 Lou Cross Road, Deville, LA 71328) - 1.582 acres in Sec 12, T5NR2E & mobile home (24 Lou Cross Road, Deville, LA 71328), $30,000.00
 
Sec. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Jeremy R Megison (78 Shady Crest Lane, Pineville, LA 71360) - Part of Lot 1, Four Ann's Subd., $107,000.00
 
The Evangeline Bank (P O Box 12900, Alex., LA 71315) to V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) - Lot 59, Crossgates Subd., Phase IV (5981 Stonegate Dr., Alex., LA 71303), $30,000.00
 
Interest Rates:
 
30 year rate was 4.45% this week is 4.30%, the 15 year rate was 3.51% this week it is 3.41%.
 
 
 Indices

 

Last

Last Week

YTD return %

DJIA

15548.54

15460.92

18.65%

NASDAQ

3611.28

3578.30

19.60%

S&P 500

1689.37

1675.02

18.45%

MSCI EAFE

1731.42

1713.35

7.94%

Russell 2000

1050.27

1033.18

23.66%

 
Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.10

0.17

30-year mortgage

4.37

3.53

 
Currencies

 

Last

1-year ago

Dollars per British Pound

1.520

1.565

Dollars per Euro

1.309

1.227

Japanese Yen per Dollar

100.540

78.840

Canadian Dollars per Dollar

1.039

1.011

Mexican Peso per Dollar

12.540

13.112

 
 
 
 

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