Rod's Notes

Rod's Notes For Wednesday 09/18/13


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  

 

People not property: 

 

Gary Perkins hopefully will be calling in in to tell our audience about Bryan Franklin seminar sponsored by BAS titled “The Billion Dollar Man” September 24th

 

Jon Grafton made a powerful and informative presentation regard past activity and future plans for community’s wonderful real estate asset known as England Economic and Industrial Development District. I was unable to make meeting and hope Jon makes the same presentation for another civic group. 

 

Matt Ritchie will be induced as LRA president this Thursday during Louisiana Realtor’s Association annual convention. Matt is first CCIM to be LRA president. Previous LRA presidents from Central La. include Van Willet, Randy Mansour, Tim Block, and Everett Stephens. Matt could be the youngest LRA president ever, kudos to Matt, our community, and real estate industry in the state of La.

 

Quote of the week: “now we know your word is only as good as your memory” Share this story with your audience.

 

December 18th is my last radio show broadcast; I said during our first show in January this would be my last year. Part of my self-improvement in my spiritual development is to become a “quieter person”. Some of my co-workers, friends, and spheres of influence may have noticed I tend to talk too much. Wife tells the story of our first date…”30 minutes all I have done is talk about me…stop right now and give you …pause…a chance to talk about me.

 

Every Deal has a Tale / Tail:

 

“Par Buckling” worked yesterday with ship Costa Concordia an engineering feat that was being watched by the world. Have not seen television clip but heard about it this morning on the radio.

 

Full City Council in 7-0 vote approved zoning commission’s recommendation to re-zone 16 acres on East side of Versailles from multifamily to C-2 commercial.  

 

Tip for the week: with market displaying 4.55 absorption rate in $150,000 to $250,000 range home buyers will need to shop harder, longer, and should make exclusive relationship with local realtor and hold the agent accountable.

 

Construction Contracts:

 

RD Holdings, LLC (4406 Wellington Blvd., Alex., LA 71303) to Ratcliff Construction Co., LLC (3900 Lee St., Alex., LA 71302) - New medical office building (1587 North Bolton Ave., Suite A, Alex., LA 71303), $3,843,352.00

 

Golden Corral is now back under full construction seemed to have gotten started prior to winter rain. I predict March 2015 opening.

 

England Economic & Industrial Development District  

 

Freddie S Vinson, Jr. (384 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Part of Lots U & V, Bayou Grosse Park Subd., Ext. 2, $130,000.00

 

Absorption rates for August:

 

6.01                Full market 823 homes on market beginning of the month 137 sold 823 / 137 = 6.01

39                    $400,001 and up 39 on market 1 sold

9.2                   $250,001 to $400,000 there were 92 homes on the market 10 sold

4.55                $150,001 to $250,000 there were 241 homes on the market 53 sold

6.18                $150,000 and less 451 homes on the market 73 sold

 

 

(+5.00) 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 time period of September.

(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 total transactions respectable volume of $5,257,576

 

(+1.25) Lot sales: To rank positive score need one sale per week the market provided 6 sales for the week.

 

Melot Construction, LLC to Julia F Lott (P O Box 368, Ball, LA 71405) - Lot 11, Rue Donahue Subd., Phase 2, $20,250.00

 

DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Russell J Riggs (5 Ben Craig Road, Pineville, LA 71360) - 1 acre in Sec 38, T4NR2E, $25,000.00

 

Edward J Lockwood, III & Sheranda Lockwood (101Floyd St., Pineville, LA 71360) to Mark S Leger (5937 Gilly Williams Road, Pineville, LA 71360) - Lot 19, Paradise Point Subd. (4704 Paradise Point Dr., Ball, LA 71405), $19,000.00

 

Ahrens Bonaire Properties, LLC (143 Orchard Run, Natchitoches, LA 71457) to John D Carnes, Jr. & Vanetta H Carnes (19414 Water Point Trail, Humble, TX 77346) - Lot 5, Bonaire Subd., Phase I, $63,500.00

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Gate Investments, LLC (304 Arabella Blvd., Lafayette, LA 70508) - Lots 31 & 32, Crossgates, Phase III (6019 & 6017 Stonegate Dr., Alex., LA 71303), $60,000.00. Two lot deal.

 

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

 

D & J Development of Louisiana & Arkansas, LLC (P O Box 1719, Tioga, LA 71477) to Shelley K Mayeux (210 Addison Court,

Woodworth, LA 71485) - Lot B-5, Belle Chase Subd., Phase II (210 Addison Court, Woodworth, LA 71485), $165,000.00

 

Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Robert C & Amber F Stanley (997 West River Road, Glenmora, LA 71433)

- 3.657 acres in Sec 8, T1SR3W (997 West River Road, Glenmora, LA 71433), $161,000.00

 

V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Charles D Lampkins, Jr. & Ilandia L Millage (5914 Toria Dr., Alex., LA 71303)

- Lot 267, Bocage Subd., Phase VI (5914 Toria Dr., Alex., LA 71303), $251,500.00

 

 

 

 

       

(+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 two sales with total volume 114,700 / $5,427,000 = 2.11%

 

J P Morgan Chase Bank (270 Park Ave., New York, NY 10017) to Dewana G Cole (7417 Hickory Grove Rd., Deville, LA 71328) - Tract in or near Sec 12, T5NR2E, $54,700.00

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Gate Investments, LLC (304 Arabella Blvd., Lafayette, LA 70508) - Lots 31 & 32, Crossgates, Phase III (6019 & 6017 Stonegate Dr., Alex., LA 71303), $60,000.00

 

Interest rates: 30 year rate was 4.58% this week is 4.48%, the 15 year rate was 3.59% this week it is 3.50%. Rates are down from last week I think partly because of much lower demand for refinancing but rates are up a full percentage point from last year. Thirty year will soon be 5% and 15 year rate will be 4%, 

 

 

Robert Kinberger weekly report:

 Indices

 

Last

Last Week

YTD return %

DJIA

15300.64

14937.48

16.76%

NASDAQ

3715.97

3658.79

23.07%

S&P 500

1683.42

1655.08

18.04%

MSCI EAFE

1790.30

1733.05

11.61%

Russell 2000

1048.48

1028.69

23.44%

 

Consumer Money Rates

 

Last

1-year ago

Prime Rate

3.25

3.25

Fed Funds

0.09

0.16

30-year mortgage

4.57

3.55

 

Currencies

 

Last

1-year ago

Dollars per British Pound

1.581

1.611

Dollars per Euro

1.331

1.289

Japanese Yen per Dollar

99.160

77.860

Canadian Dollars per Dollar

1.032

0.976

Mexican Peso per Dollar

13.071

13.016

 

 

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