Rod's Notes Archives for 2011-07

Rod's Notes For Wednesday 072711


Wednesday 07/27/11

 

To participate in the show’s live call in dial 318-442-8255 (talk) call between 8:05 and 8:55 on Wednesday morning.  Do not attempt to call in on Saturday as this is our encore performance (fancy way to say taped).

 

You can now sign up on line for email distribution of my transcripts:go to www.kysl.com and click on Rod Noles then sign up to have the show’s notes emailed to you.

 

Attachments, Announcements, and Travels:

 

Two sales trend studies one for Hills Gait and the other Brentwood Subdivision.

 

Survey for $500,000 sale on MacArthur drive

 

 

Featured property of the week:

FSBO on highway 165 North owned by Mark Harlan priced at $475,000 with 4 acres 333’ x 479’ if you have commercial use for the two story building it’s even a better deal. Priced at less than $3 psf share with listeners discovery made this week with National retailer looking in Pineville market. Where do you think are two highest price sales and what is the difference in pricing along 165 route.  

 

People not properties:

 

Deborah Randolph new executive director for Central La. Chamber of Commerce.

 

Jennifer Atwood and her team placed third in Food Network competition

 

Rob Antoon selected by La. restaurant association as Culinary Humanitarian of the year. Remind our listeners Rob is one of Camille Gravel’s grandson and our community is blessed that the “whole famn damily” as choosen Central La. as their home   

 

Elaine Setliff broker/owner of Lagniappe Realty great front page ad and Town Talk insert on Monday.

 

Mike Robertson Mayor of Bunkie kudos on $20 million dollars state investment for juvenile center.

 

Once a month Commissioner Report: I have a lot to learn, first meeting established that. Numbers for agents down 5% from 2010 there were 9,914 active sales people licenses and there are now 9,400.

                                                        

Every Deal has a tale / tail.

 

Bayou Rapides Development, LLC Bryan Butler (1001 Bayou Place, Alex., LA 71303) to Kun C Tsai, et al (4125 Waterford Dr., Alex., LA 71303) - 2.0096 acres in Sec 21, T4NR1W, $500,000.00. This is the land next to Tractor Supply not sure what buyer plans to do but at $5.71 psf it is retail or hospitality. Survey attached to my notes. Paul Maxwell handled this deal plus the next sale in same area.

 

Bayou Rapides Development, LLC (3704 Coliseum Blvd., Alex., LA) to Crossfit Alexandria, Inc. (1205 Texas Ave., Alex. ,LA 71301) - .527 acres in Sec 21, T4NR1W (3158 N MacArthur Dr., Alex., LA 71303), $60,000.00

 

301 Jackson PlacePartners to 201 Jackson Place, LLC (301 Jackson St., Suite 100, Alex., LA 71301) - Part of Lots 1 & 4, Sq 18, City of Alex., et al, $750,000.00. Karen Faulk put this deal together with some of the tenants in the building taking ownership interest in partnership. Lindsey Torbet, Pat Moore, Tom McBride and Karen Faulk are some of the partners.

 

Benjamin T & Melanie M Drury (2600 Horseshoe Dr., Alex., LA 71301) to William D & Elizabeth P Long (5601 Courtland Place, Alex., LA 71301) - 2.595 acres in Sec 23, T3NR1W, et al (2600 Horseshoe Dr., Alex., LA 71301), $1,000,000.00

 

Antoon Holdings, LLC (P O Box 222, Alex., LA 71309) to Rapides Lodging Partners, LLC (5650 Frontage Road, Monroe, LA 71202) - Tract in Sec 19, T4NR1W, $59,000.00

 

Keith Griffith (19 Baum Road, Ball, LA 71405) to Kenneth L Perego, II (4704 Collinsburg Dr., Alex., LA 71303) - 213.6 acres in Sec 16, T5NR1E, $66,873.00. Price per acre is $313 my father in law would say, “it’s worth that price per acre if all it does is hold the world together”

 

Spoons Frozen Yogurt opening this Friday July 29, 6 pm. Owned and operated by good friends of mine.  Sneak preview granted to me shows classy surroundings and great yogurt! Wanda Vandover.

 

EnglandAir ParkPurchases

 

John D & Mary C Winn (4 Dottie Lane, Boyce, LA 71409) to The England Economic And Industrial Development District - Part of Lot 1, Dottie Land Subd., $126,040.00

 

Jo Ann McDaniel (490 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 3, Bayou Grosse Park Subd., et al, $90,000.00

 

Fun to follow names of partnerships and LLC: Sometimes you wonder where do the names come from?

 

Diane G King, et al (319 Holiday Circle, Pineville, LA 71360) to Vaamana, LLC Madhavi Anil Danivas (5114 Mallard Dr., Alex., LA 71303) - Unit 105, Parliament Square Condominiums, $74,000.00

 

All About Storage of Cenla, LLC  Alan Lewis Trammell(64 Ross Lane, Alex., LA 71303) to Jabez Holdings, LLC Steven Tyer(P O Box 241, Woodworth, LA 71485) - Tract in Sec 18, T4NR1E (1926 Melrose St., Pineville, LA 71360), $49,000.00

 

(4.5) Rod’s economic indicatorperfect 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. Rating for previous week was 3 this week is 4.5 close to my target score of 5.

 

Legal recorder data for five business day July 18th, 2011 though July 22nd, 2011

 

(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.

(5) Two random residential sales compared to average prices for 2008, 2009 and 2010 that demonstrate increase prices.

 

(+1) Total saleslooking for 40 closed deals from previous week this week there were great week for volume 44 sales with total volume of $5,515,777

 

Fewer sales: Fewer Americans bought previously occupied homes in June, putting this year on pace to be the worst for sales since the housing bust. Home sales fell 0.8% last month to a seasonally adjusted annual rate of 4.77 million homes, the National Association of Realtors says. That's far below the 6 million homes per year that economists say represents a healthy housing market. Through the first six months of this year, the sales pace is behind last year's 4.91 million homes sold—the weakest sales in 13 years. Sales have fallen in four of the past five years.

 

(+.50) Random salescomparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.

 

Angela F Sikes (3008 Hwy. 28 E, Pineville, LA 71360) to Phillip C & Carla J Tobey (P O Box 4558, Attn: Brazil Operation, Houston, TX 77210) - Lot 13, Hills Gait Subd. (169 Adams Path, Pineville, LA 71360), $415,000.00. Past three years there have only been 6 sales with lowest at $275,000 and highest at $415,000 and average sales price of $340,715

 

Trotter Investments, LLC to William P Trotter - Lot 11, Brentwood Subd. (1005 Windermere Blvd., Alex., LA 71303), $203,500.00. Four sales in what is really know as first phase of Hunter’s Grove average price of $206,500 sale I am tracking this week is $203,500 close but under the average for negative score. Four sales in what is realy know as first phase of Hunter’s Grove.

 

Spring buying gives housing market temporary lift

Home prices rose for the second straight month in most major U.S. cities and are stabilizing after years of declines. But analysts say the trend in prices hardly signals a rebound for the troubled housing market. A flurry of spring buyers is helping boost sales. At the same time, millions of foreclosures are in limbo, awaiting the results of a government investigation into improper practices by mortgage lenders. The Standard & Poor's/Case-Shiller home-price index shows that prices rose in May in 16 of the 20 major U.S. cities tracked. Boston, Minneapolis and Washington posted the biggest monthly increases. Prices in Detroit, Las Vegas, and Tampa, Fla.—three cities hit hardest by the housing crisis—fell to their lowest points since the recession began. Price declines have been getting smaller through the year. Seasonally adjusted prices have fallen a modest 1.2% over the past six months, according to the index. That's roughly a third of the decline from the previous six months.

 

(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us five sales zero from developer’s inventory.

 

Kristy A Cole (22 Big Creek Road, Hineston, LA 71438) to Kevin S & Cynthia A Cloud (3810 Brenda St., Alex., LA 71302) - 9.7 acres in Sec 18, T2NR4W, $45,000.00

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Philbert & Sandra L Bachman (1240 Lake Dr., Woodworth, LA 71485) - Lot 16, Belle Chase Subd., $35,000.00

 

Michael W & Michele T Barnett, et al (18012 Monitor Ave., Baton Rouge, LA 70817) to Gracie I Clifton (34 Shackleford Road, Clifton, LA 71447) - 5.5 acres in Sec 2, T3NR4W, $55,000.00

 

Trammell Properties, LLC (64 Ross Lane, Alex., LA 71303) to Jabez Holdings, LLC (P O Box 241, Woodworth, LA 71485) - .502 acres in Sec 56, T3NR1W (6642 Old Baton Rouge Hwy., Alex., LA 71302), $55,000.00

 

Estelle P Austin, et al to Orris V Cooper, Jr. (1307 Lukirk St., Iowa City, IA 52240) - 18.51 acres in Sec 8, T4NR1E, $34,000.00

 

(+1) New Home sales positive score requires only one sale for the week: the market us two.

 

Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Lucas J & Gaynell R Byrd (381 H Strange Road, Lecompte, LA 71346) - Tract in or near Lot 29, Indian Creek Park Subd., $162,500.00

 

Campbell's Construction, Inc. (8246 Old Hwy. 71 N, Pineville, LA 71360) to Jo Ann H Bordelon (555 Lou Ann Dr., Colfax, LA 71417) - Lot 9, Jennifer's Place Subd.-Condominiums (1023 Jennifer's Place, Pineville, LA 71360), $152,500.00

 

Continuing weakness:Fewer people bought new homes in June, evidence that the housing market remains weak. The Commerce Department says sales of new homes fell 1% in June to an annual rate of 312,000. That's less than half the 700,000 homes sold per year that economists say is typical in healthy markets. Sales fell to record lows in the Northeast and West. The median price of a new home rose to $235,200 in June, up 5.8% from May. Housing remains the weakest part of the U.S. economy. Last year was the worst for new-home sales on records dating back a half-century. Through the first six months of this year, sales are lagging behind last year's totals.

 

(+1) Lender total Salesrates positive score if lender sales are below 5% of total sales. This week there were two lender sales totaling $165,000 / $5,515,777 = 2.99%

 

Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Credit Savers, LLC (P O Box 12354, Alex., LA 71315) - Tract in Sec 1, T1NR1W, et al (2911 Hwy. 112, Lecompte, LA 71346), $130,000.00

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Philbert & Sandra L Bachman (1240 Lake Dr., Woodworth, LA 71485) - Lot 16, Belle Chase Subd., $35,000.00

 

Interest Rates: 30 year fixed is 4.53% was 4.50% the 15 year rate is 3.65% was 3.63% this is up from last week following eight straight weekly declines. 5/1 ARM is 3.00% was below 3.02%.

 

 

La.jobless rate drops to 7.8%

Louisiana's unemployment rate dropped in June to 7.8% as job growth in the private sector continued to outweigh losses in government employment, the state Workforce Commission reported today. The rate for May was 8.2%. The figures are adjusted for seasonal factors. In June 2010, the state's jobless rate was 7.5%. Last month, the number of people listed as unemployed fell to 160,400 from 169,700 in May. At the same time, the civilian labor force, including the employed and those actively seeking work, fell by 15,100. During the economic downturn, economists have typically attributed part of a labor force downturn to people stopping their job hunts, as well as to those who got jobs. Still, Louisiana was only one of eight states that recorded jobless rate declines from May to June. Increases hit 28 states, while 14 states were unchanged. On a seasonally adjusted basis, Louisiana had 27,800 more private-sector jobs in June than in June 2010. Over the same time period, government employment fell by 15,200. The leading sectors included private education-health services, leisure-hospitality and manufacturing. The state releases non-seasonally adjusted job figures for Louisiana and metropolitan areas on Wednesday.

 

Leading indicators rise, signal slow growth

A private research group forecasts that the economy will grow slowly as summer transitions into fall. The Conference Board says its index of leading economic indicators rose 0.3% in June. The index had rebounded 0.8% in May after dropping 0.3% in April. That was the first decline since June 2010, as economic growth slowed. June's reading suggests that the recent slowdown in growth won't worsen into a recession over the next few months, even with high unemployment and a weak housing market. Many economists expect a moderate pickup in the second half of the year. Half of the 10 measures that the Conference Board compiles into its index showed improvement, four declined, and one was steady.

 

BancorpSouth posts profit;

Two regional bankers with a presence in Baton Rouge posted varying second-quarter results. BancorpSouth posted a second-quarter profit—reversing a year-ago loss—as it was able to sharply reduce its reserve for problem loans. For the April-through-June period, BancorpSouth earned $12.8 million, or 15 cents per share, compared with a loss in 2010's second quarter of $12.6 million, or 15 cents per share. BancorpSouth, based in Tupelo, Miss., broke into the black by cutting its credit loss provision from $62.4 million a year ago to $32.2 million during the last quarter. Nonperforming loans fell from the first quarter of 2011 by $45.2 million to $379.8 million. Interest revenue rose 0.5% from a year ago, from $109.3 million to $109.9 million. Loans and leases totaled $9.2 billion, down 4.5% from $9.6 million in last year's second quarter. Non-interest revenue rose to $75.1 million from $57.1 million a year ago. Credit and debit card fees were up 20.7% from a year ago.

 

 

Short-term outlook brighter: A private research group is reporting that U.S. consumers' confidence rose slightly in July as concerns about jobs and income somewhat eased. The Conference Board's Consumer Confidence Index edged up to 59.5 in July from a revised 57.6 in June, which marked a seven-month low in the measure. Economists had expected the July figure to fall to 56. Consumers' short-term outlook improved, according to the index, but their thoughts on current business and employment conditions dimmed as labor market concerns persist. A reading of 90 indicates a healthy economy on the index, which measures how Americans feel about business conditions, the job market and the next six months.

 

La.ranks second nationally for job creation

Over the past five years, Louisiana saw the second-largest increase of any state in the number of new jobs. There were 1.9 million jobs in the state in June, according to figures from the U.S. Bureau of Economic Analysis. That was up nearly 56,000 jobs from June 2006. Only Texas added more jobs during that period, adding 537,500 jobs to boost the number of nonfarm jobs to nearly 10.6 million. American City Business Journals, which did the report, says North Dakota had the biggest percentage gain over the five-year period: Non-farm employment in that state was up by nearly 12%, bringing the number of jobs to 394,000

 

Rod's Notes For Wednesday 07/20/11


Wednesday 07/20/11

 

To participate in the show’s live call in dial 318-442-8255 (talk) Make sure you phone in between 8:05 and 8:55 on Wednesday morning.  Do not attempt to call in on Saturday as this is our encore performance (fancy way to say taped).

 

You can now sign up on line for email distribution of my transcripts:go to www.kysl.com and click on Rod Noles then sign up to have the show’s notes emailed to you.

 

Attachments, Announcements, and Travels:

 

Bake sale for Johnny Hesni and his family today from 8:00 to 4:00 pm

 

Commercial REALTORS: Pick Up 8 Hours of CE in Lafayette, August 11:

Earn up to 8 hours of commercial-related continuing education credit at the annual Louisiana REALTORS Commercial Development Conference, scheduled for Thursday, August 11 at the Hilton Lafayette. Our largest event for commercial REALTORS will feature Louisiana Economic Development Secretary Stephen Moret, Stewart Title Chief Economist Ted Jones, commercial lending expert Brian Andrews, NAR Political Representative Brad Viator, and LR General Counsel Scott Johnson. These expert speakers will cover major industry topics and important issues impacting commercial REALTORS. This informative briefing session, followed by a networking luncheon, is approved for 4 hours of CE credit. Following the luncheon is an offering of LR's new "Sustainable Development & the Commercial Transaction" course, also approved for 4 hours of CE credit. REALTORS attending the full day will earn 8 hours of CE credit specific to commercial real estate. A room block at the Hilton is also available for out of town attendees. Click here for complete information and online registration or contact Kevin Calbert at 800-266-8538.

 

Featured property of the weeksomething new but I know we are on to something hot!!! 4036 Huntwick $255,000 three bedrooms 2.5 baths very talented and clever rehab and landscaping by Laura Ashley and Lloyd Overdyke

 

Guest: Debbie Ranson and Hank Hoag corporate official with Crye-Leike Realtors

 

People not properties:

 

Chris Roy thanks for your service and sacrifice.

                                                         

Every Deal has a tale / tail.

 

Bayou Rapides Development, LLC (1001 Bayou Place, Alex., LA 71303) to Kun C Tsai, et al (4125 Waterford Dr., Alex., LA 71303) - 2.0096 acres in Sec 21, T4NR1W, $500,000.00

 

Fun to follow names of partnerships and LLC: Sometimes you wonder where do the names come from?

 

Skyco Corp. (9875 Mansfield Road, Shreveport, LA 71118) to Rinnie L Malone (247Hazmuka Road, Pineville, LA 71360) - 1 acre in Sec 33, T5NR2E (247Hazmuka Road, Pineville, LA 71360), $105,000.00

 

New Construction:

 

Rapides Parish School District to Ratcliff Construction Co. (1715 England Dr., Alex., LA 71306) - Caroline Dormon Junior High School, Woodworth, LA, $7,406,500.00

 

8 most common problems with sellers in a difficult market:

1. Sellers can be uncooperative on price.

2. Sellers frequently believe that the way they live in the house is the way they can sell the house.

3. Sellers are often unprepared for low appraisals.

4. Most sellers aren’t negotiation experts. They may bring expectations and anxiety that make everyone’s experience more difficult.

5. Sellers can be uncooperative on commission and might even request a reduction.

6. Sellers regularly have unrealistic demands concerning showings, advertising, marketing, and communication.

7. Agents and sellers may have personality conflicts.

8. Sellers might not be aware of all the closing costs.

Rod’s economic indicatorperfect 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. Rating for previous week was 3

 

Legal recorder data for five business day July 11h, 2011 though July 15th, 2011

 

(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.

(5) Two random residential sales compared to average prices for 2008, 2009 and 2010 that demonstrate increase prices.

 

(-1) Total saleslooking for 40 closed deals from previous week this week there were 33 sales with volume of $3,644,887

 

Random salescomparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.

 

Kenneth J & Tamara B Willis (5120 Bluebird Lane, Alex., LA 71303) to Jennifer A Westerchil (4051 Bayou Rapides Road, # 201, Alex., LA 71303) - Lot 133, Highpoint Addn. (5120 Bluebird Lane, Alex., LA 71303), $137,500.00

 

Paul C & LaDonna G Hargis (14630 Hwy. 8, Colfax, LA 71417) to James H & Susan M Clinton (524 Park Place Dr., Alex., LA 71301) - Lot 9, Blk 3, Park Place Subd. (524 Park Place Dr., Alex., LA 71301), $217,000.00

 

 

(+1) Lot Sales Only need one sale for positive score and this week the market gave us three sales

 

JRT of Louisiana, Inc. (P O Box 12275, Alex., LA 71315) to Pamela F King (2726 Hill St., Alex., LA 71301) - Lot 138, Fairfield Subd., Phase IV (94 Belleau Wood Blvd., Alex., LA 71303), $42,000.00

 

The Union Bank (305 North Main St., Marksville, LA) to Stephen W & Carrie A Gibbs (112 Chris Lane, Pineville, LA 71360) - Lot 64, St. Andrews Links Estates, Phase Two, $38,000.00

 

B & B Office Holdings, LLC (P O Box 2167, Prairieville, LA 70769) to Samson Construction, LLC (37177 Heritage Court, Geismar, LA 70734) - Lot 10, Shadow Creek Ranch Subd. (304 Shadow Creek Ave., Pineville, LA 71360), $36,000.00

 

 

(+1) New Home sales positive score requires only one sale for the week: the market provided two sales

 

ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Amber C & Justin C Dauzat (51 Little John Lane, Dry Prong, LA 71423) - Lot 83, Sherwood Forest Subd. (51 Little John Lane, Dry Prong, LA 71423), $175,500.00

 

V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Toni M Genova (5810 West Austin Dr., Alex., LA 71303) - Lot 214, Bocage Subd., Phase V (5810 West Austin Dr., Alex., LA 71303), $193,000.00

 

U.S. home building jumps in June after dismal spring

Builders broke ground on more single-family homes and apartments in June as the home-building industry tried to shake off a historically bad spring. The Commerce Department says builders began work on a seasonally adjusted 629,000 homes last month, a 14.6% increase from May. Still, that's roughly half the 1.2 million homes per year that economists say must be built to sustain a healthy housing market. Much of the increase came from a surge in apartment construction, a volatile part of the industry. That jumped 31.8% last month. Single-family home construction rose a more modest 9.4%. Building permits, a gauge of future construction, increased 2.5%. June's building pace was the best showing since January, and single-family home construction saw the biggest monthly increase since June 2009, when the recession ended. Though new homes represent just 20% of the overall home market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.

 

(-1) Lender total Salesrates positive score if lender sales are below 5% of total sales. Six sales for the week with total volume of $449,000 / total sales for the week of $3,644,887 = 12.31%

 

The Union Bank (305 North Main St., Marksville, LA) to Cody D Gray (205 Red Oak Drive, Pineville, LA 71360) - Tract in or near Lot 9, Hayden Subd., $31,000.00

 

Dept. of HUD to K Pro Enterprises, LLC (5411 Coliseum Blvd., Alex., LA 71303) - Lot 73, Grundy Cooper Subd., $55,100.00

 

Dept. of HUD to James B Schneider, Iv (10 Roy Blair Road, Deville, LA 71328) - Tract in Sec 2, T4NR2E, et al, $145,000.00

 

The Union Bank (305 North Main St., Marksville, LA) to Stephen W & Carrie A Gibbs (112 Chris Lane, Pineville, LA 71360) - Lot 64, St. Andrews Links Estates, Phase Two, $38,000.00

 

Federal National Mtg. Assoc. to Loye S Ayres (513 Park Place Dr., Alex., LA 71301) - Lot 6, Blk 4, Park Place, et al (513 Park Place Dr., Alex., LA 71301), $85,100.00

 

Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Gary W & Nancy D Rials (3199 Hwy. 112, Lecompte, LA 71346) - Tract in Sec 2, T1NR1W, $95,000.00

 

Interest Rates: 30 year fixed is 4.50% was 4.51% the 15 year rate is 3.63% was 3.65% this is up from last week following eight straight weekly declines. 5/1 ARM is 3.02% was below 3.07%.

 

 

Wampold buys second Bluebonnet hotel

Mike Wampold, who is developing the Renaissance Baton Rouge Hotel, has purchased a second hotel on Bluebonnet Boulevard. Wampold bought the Quality Suites Hotel near the Bluebonnet/Interstate 10 intersection for $2.35 million in a deal that was filed today. The 120-room Quality Suites is about a mile away from the Renaissance hotel, set to open in late September or early October. Wampold says both of the hotels are "located in what we consider to be the epicenter of the Baton Rouge growth corridor." This is key price of $19,583 (this does not sound right).

Rod's Note From Wednesday 07/13/11


Wednesday 07/13/11

 

To participate in the show live call 318-442-8255 (talk)

Between 8:05 and 8:55 on Wednesday morning, do not attempt to call in on Saturday as this is our encore performance (fancy way to say taped). So remember questions, comments, corrections, or if I have not returned your call you can reach me live on Wednesday mornings at 318-442-8255.

 

You can now sign up on line for email distribution of my transcripts:for the show: www.kysl.com and click on Rod Noles sign up if you want my notes

 

Attachments, Announcements, and Travels; open what you like and delete the balance (1) June absorption report (2) Bake sale announcement for Johnny Hesni (3) Latter & Blum June newletter (4) Two studies one for Nine Oaks and the other for Charleston Condo

 

Bake sale for Johnny Hesni and his family: Wednesday July 20th starting at 8:00 am. You are invited to show up with obscene amount of money for your cake. See attachment.

 

American Cancer Society: Boots and bow tie Gala, August 20th at Alexander Country Club tie up  your horse right at sun down 6:30 pm call Helen Strickland sales manager at Noles-Frye Realty 445-sold.;

 

Guest  Ivan J. Miestchovich, Ph.D. Director and Associate Professor Institute for Economic Development and Real Estate Research University of New Orleans. Made arrangements to have quarterly interview titled “Update from Professor Ivan”

 

Every Deal has a tale / tail.

 

Piccadilly at the Mall: Closed last week one at Mac Arthur Village still open

 

Shoppers drawn in by sales: American consumers that were enticed by warmer weather and discounts of up to 80% on summer merchandise went on a buying binge in June, helping many retailers deliver robust revenue gains for what is typically the second-biggest shopping month of the year. But as the U.S. economy struggles to revive, the concern among analysts is that the strong revenue momentum at big retailers such as Target and Costco may not extend into the busy back-to-school shopping season.

 

Used Car Biz must be OK.

John W & Donna J Decker (7834 Loa Place, Diamondhead, MS 39525) to Vaughn Real Estate Holdings, LLC (1102 NW Main St., Bunkie, LA 71322) - 2.568 acres in Sec 43, T4NR1W, $778,000.00. If land has zero value this is $7 psf sale.

 

Cyril J Murphy, III (P O Box 8503, Alex., LA 71306) to Jonas E & Cherry L Gauthier (52 Credeur Road, Pineville, LA 71360) - 1.07 acres in Sec 25, T4NR4W, $520,000.00

 

Walkermoves into $5,000,000 wonderful facility.

 

Fun to follow names of partnerships and LLC give me an idea how they came up with the following:

 

Bradley P & Amy M Scroggs (2289 Hwy. 457, Alex., LA 71302) to Alexandria Dubble D, (think double D is for Downs and Drerup and not bra size) LLC Kyle Downs Drerup(2800 Jackson St., Alex., LA) - 12.62 acres in Sec 24, T3NR1E (2289 Hwy. 457, Alex., LA 71302), $200,000.00. Google aerial seems to be near corner of PC Linzey road and highway 457, going South Highway 1 just past Latanier cut off turn

Turn left on 457 (sale includes a house)

 

James H Bradford, Jr., et al (906 Wimbledon Blvd., Alex., LA 71303) to Nfocus Technologies, LLC Michael Carbo (4012 Parliament Dr., Alex., LA 71303) - Tract known as 4012 Parliament Dr., Alex., LA 71303, $190,000.00.

 

Good sign when: past several weeks Southern Funding on Mac Arthur sales, Meyer, Meyer, Hixson and LaCroix sale warehouse, Professional building sales, Vaughn Motors buys their location on Jackson and now 4012 Parliament sales at fair price.

 

Speaking of “Good Signs” big house, huge house in Charles Park at corner of Wendover and Wimbledon has two signs by owner. One is for rent, second sign is for sale. Looks like someone could buy part of the house and another family could lease part of the house. Like I said it is a big sign and wins my “sign of the week award.”

 

Second property transfer in past 30 days on Jackson to community service organizations and 3rd sale in neighborhood:

 

The Rapides Foundation (1101 4th St., Suite 300, Alex., LA 71301) to Rapides Children's Advocacy Center, Inc. (2004 Jackson St., Alex., LA 71301) - Tract on or near Jackson & Bolton Ave., et al, $100,000.00

 

Last week we discussed: Magnolia Pharmacy Services, LLC (3700Bayou Rapides Road, Alex., LA 71303) to Central Louisiana Aids Support Services ,Inc. (1785 Jackson St., Alex., LA 71301) - Part of Blk O, Clarence park Addn. (1783 & 1785 Jackson St., Alex., LA 71301), $187,000.00. Paul Maxwellwas listing agent not sure if he had both sides.

 

Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Family Counseling Agency (1605 Murray St., Alex., LA 71301) - Lots 13-15, Sq 3, Weil Co. Subd. (1605 Murray St., Alex., LA 71301), $340,000.00 week prior to that Professional building sells Spencer Marks agent.  

 

Siegen Lane Marketplace apartment complex sold for $27.8 million

Tuscany Villas, an upscale Siegen Lane apartment complex, has been sold to a group of local investors for $27.8 million. New Hope Investors-Tuscany bought the 274-unit complex from Tuscany Reserve, which built the development. New Hope is led by John Noland. The group says it doesn't plan on making any changes to the complex, beyond some cosmetic improvements. Tuscany Villas, which is located in the Siegen Lane Marketplace center, opened in spring 2008. Units in Tuscany Villas rent for between $825 and $1,500 a month. The complex is 94% occupied. This is a unit price of $101,459 per unit.

 

New Construction:

 

Holiday Inn Express on MacArthur Drive new hotel under construction behind former Burger King. Staff called yesterday making an inquiry for the show and person who answered the phone told Mary Ann it was none of her business what type hotel was being built. Permit office was closed when we call Holiday Inn Express but I will let you know next week.

 

Christus St. Frances Cabrini Hospital (3330 Masonic Dr., Alex., LA 71301) to Skip Converse, Inc. (318 Jones St., Pineville, LA 71360) - Freedmon Memorial Cardiology Clinic Expansion Suite 112, $112,750.00

 

Christus St. Frances Cabrini Hospital (3330 Masonic Dr., Alex., LA 71301) to Skip Converse, Inc. (318 Jones St., Pineville, LA 71360) - Dr. Stehr Office alterations Suite 311, $81,315.00

 

 

Investor sales:

 

JSW Investments, LLC Jimmy Whittle (5121 Hunters Grove, Alex., LA 71301) to Jessica N Sanders (394 Hwy. 1193, Marksville, LA 71351) - Unit 216, Parliament Square Condominiums (4503 Heyman Lane, Unit 216, Alex., LA 71303), $90,000.00

 

Price Co Development Corp. (315 Expressway Dr., Pineville, LA 71360) to C & A Development of Cenla, LLC Carroll Wayne Johnson(7257 Esler Field Road, Pineville, LA 71360) - Lot 12, Graceland Subd., $15,000.00

 

Charlene D Mitchel (P O Box 8, Ruby, LA 71365) to Delta Farming of Avoyelles, LLC Tommy Passmore(P O Box 270, Effie, LA 71331) - 1.7 acres in Sec 12, T3NR4W (111 Dewil Cemetery Road, Boyce, LA 71409), $20,000.00

Rapides Parish sales:

 

Rapides Parish Sales:

 

The Parish of Rapides to Patricia Carr (3617 Kees Ave., Alex., LA) - Lot 2, Economy Homes Subd. (3613 Kees Ave., Alex., LA 71301), $2,232.88

 

The Parish of Rapides to John Harley (215 No. 14th, Alex., LA 71301) - Lot 1, Sq 17, Welch Addn. (1408 Ashley Ave., Alex., LA 71301), $3,666.67

 

The Parish of Rapides to Jimmie De Ramus (2417 Lee St., Alex., LA 71301) - Lot G, Rapides Realty Co. Subd. (2501 Lee St., Alex., LA 71301), $983.33

 

Mykoff absorption studyfor June: Dr. Ivan do you track this number and what would near 9 absorption tell you?

 

8.88 months supply for total market 755 homes for sale 85 sold 145 new homes on the market

 

44 month supply $400,000 number for sale is 44 and 1 sold 1 new home on the market

 

10.44 month supply $250,001 to $400,000 number for sale was 94 and 9 sold with16 new ones for sale

 

8.33 month supply $150,001 to $250,000 number for sale was 200 and 24 sold 30 new ones came on the market

 

8.18 month supply under $150,000 number for sale was 417 and 51 sold with 98 new homes on the market.

 

Rick Haase, President, Latter & Blum Inc., spoke of the state of residential real estate in our area and said that there's still a tremendous gap in the number of properties available for sale and the number of homes that are actually sold, although inventory is starting to fall. A four-to-five month supply of homes is generally considered a healthy level of sale inventory in a market, but right now, there's a 10.9-month supply in Orleans Parish, an 11.7-month supply in Jefferson, and 12.9-month supply in St. Tammany. "This is still an over-supply, under-demand market," he said. Quote from Rick Haase at economic summit in New Orleans

 

Rod’s economic indicatorperfect 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. Rating for previous week was 3

 

Legal recorder data for five business day July 5th, 2011 though July 8th, 2011

 

(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.

(5) Two random residential sales compared to average prices for 2008, 2009 and 2010 that demonstrate increase prices.

 

(+1) Total saleslooking for 40 closed deals from previous week the market gave; rates positive for the week even though we hit 33 sales and not 40 (keep in mind court house was closed Monday July 4th) volume was very strong $4,377,131

 

Capital Region home sales down 13% for first half of year

Through the first half of the year, the number of homes sold in the Capital Region is down 13% when compared with the first six months of 2010. There were 3,107 homes sold as of June, according to figures from the Greater Baton Rouge Association of Realtors' Multiple Listing Service. That compares with 3,586 MLS sales for the first half of 2010. The average sale price was $193,294 for the first half of 2010, virtually unchanged from the $192,274 average in the first half of this year. Sales were down 11% in East Baton Rouge Parish, from 1,923 in 2010 to 1,703 this year. The average sale price was $204,767, compared with $206,009 in 2011. Livingston Parish had a 17.5% sales drop from 2010, going from 661 MLS sales in the first half of the year to 545. The average sale price in Livingston also fell, going from $161,822 in 2010 to $154,053. Ascension Parish had the biggest drop in home sales, falling 21% from 749 in 2010 to 589. The average sale price was slightly unchanged, falling from $198,438 to $197,595. And in the other category, which includes the Felicianas, West Baton Rouge and Iberville Parishes, MLS sales actually went up 7% in 2011, going from 253 in 2010 to 270 this year. The sale price was down slightly from $173,082 to $171,183

 

Rapides Parish June 2010 to same time 2011: Sales are down 15% and average home price $156,519 down 8.21% comparing just June to June.

 

(.50) Random salescomparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.

 

Carlton J Charles, Jr. & Ginger G Charles (108 Nine Oaks Lane, Pineville, LA 71360) to Crest Tec Properties, LLC (13862 Perkins Road, Baton Rouge, LA 70810) - Lot 3, Nine Oaks Subd., $137,500.00. Four sales in past three years in small development with only 13 lots just prior to Village Green average is $137,875 close enough to sale we are tracking to rate positive score.

 

Norman L Gunn (15 Fielding Road, St. Louis, MO 63124) to Georgia C & Stanley E Everett (P O Box 442, Conover, NC 28613) - Unit 1, Charleston Condominium (4400 Charleston Circle, Unit 1, Alex., LA 71303), $90,000.00. Negative score on this sale as average over past three years with 8 sales is $102,656

 

(+1) Lot Sales Only need one sale for positive score and this week the market gave us

 

Bocage Subdivision of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 223, Bocage Subd., Phase V (5926 West Austin Dr., Alex., LA 71303), $22,000.00

 

Johnathan S & Bridgette B Vidrine (2837 St. Landry Hwy., St. Landry, LA 71367) to Alan S Atkinson & Kayla A Redmond (416 Black Water River Dr., Lafayette, LA 70508) - Lot 21, Indian Creek Park (180 Belle Trace Road, Lecompte, LA 71346), $36,500.00

 

(+1) New Home sales positive score requires only one sale for the week:

 

Campbell's Construction, Inc. (8426 Old Hwy. 71 N, Pineville, LA 71360) to Christopher L & Patti E Turner (331 Choctaw Dr., Pineville, LA 71360) - Lot 50, Revised, Choctaw Hills Subd., $195,000.00

 

(+1) Lender total Salesrates positive score if lender sales are below 5% of total sales.

 

Deutsche Bank, et al to Mary Pounders (3316 Pkwy. Dr., Alex., LA 71301) - Lot 15, Glendale Addn. (3316 Parkway Dr., Alex., LA 71301), $91,000.00

 

PMI Storyhttp://finance.yahoo.com/loans/article/113015/next-mortgage-bombshell-barrons?mod=loans-home

 

 

Interest Rates: 30 year fixed is 4.50% was 4.58% the 15 year rate is 3.64% was 3.71% this is up from last week following eight straight weekly declines. 5/1 ARM is 3.16% was below 3%. Dr. Ivan where do you think interest rates are headed?

 

 

New addition to show: Each week will highlight different national companies that have a presence here in Central La.

 

Auto Zone

2 Billion in sales for 3rd quarter

5.4% same store sales increase

12.1% increase in profits

4,467 stores in 48 states largest auto part store in America

213 new sotres in past fiscal year

$297.98 recent price of single share of stock an all time high

5.7% growth for competitor O’Riley

6,000 to 7,200 square feet is the typical store (divided evenly between leased and owned)

Most stores are free standing but will consider in line store like in Kingsville

Demographics consider vehicle profile looking for 7 year or older ownership no remaining warranties and do it yourself repairs.

 

Regional Stories of Interest

 

Initial La. unemployment claims increase

First-time claims for unemployment increased in Louisiana for the week ending Saturday. The Louisiana Workforce Commission says the initial claims were 4,169, compared with 3,804 for the week ending June 25. The figure was lower than it was for the comparable week a year earlier, when there were 4,750 initial claims. The four-week moving average, which is a less volatile measure, decreased to 4,146 from the previous week's total of 4,440. Continued unemployment claims filed for the week ending Saturday totaled 47,097, a decrease from 47,769 for the week ending June 25. The four-week moving average for such claims increased to 47,236 from 46,446.

 

U.S.unemployment rises to 9.2%, hiring stalls

Hiring slowed to a near-standstill last month. Employers added the fewest jobs in nine months, and the unemployment rate rose to 9.2%. The economy generated only 18,000 net jobs in June, the Labor Department says. And the number of jobs added in May was revised down to 25,000. The latest report offered stark evidence that the recovery will be painfully slow. It also raised doubts that the economy will rebound in the second half of the year, having weathered a spring slump. Businesses added just 57,000 jobs last month—the fewest in more than a year. Governments cut 39,000 jobs. Over the past eight months, federal, state and local governments have cut a combined 238,000 positions. Stock futures plunged after the report's release. "June's employment report doesn't have a single redeeming feature," says Paul Ashworth, an economist at Capital Economics. "It's awful from start to finish." Two years after the recession officially ended, companies are adding fewer workers despite record cash stockpiles and healthy profit margins. Companies have pulled back on hiring after adding an average of 215,000 jobs per month from February through April. The economy typically needs to add 125,000 jobs per month just to keep up with population growth. And at least twice that many jobs are needed to bring down the unemployment rate.

Economists have said that temporary factors have, in part, forced some employers to hold back on adding workers. High gas prices have cut into consumer spending. And supply-chain disruptions stemming from the Japan crisis have slowed U.S. manufacturing production.

 

U.S.oil and natural gas rig count up

The number of rigs actively exploring for oil and natural gas in the U.S. rose by one this week to 1,887. Houston-based drilling product provider Baker Hughes Inc. reported today that 1,007 rigs were exploring for oil and 873 for natural gas. Seven were listed as miscellaneous. A year ago, the rig count stood at 1,567. Of the major oil- and gas-producing states, Louisiana gained four rigs, Oklahoma three, and Alaska and New Mexico one each. North Dakota and Texas each declined by three; and Arkansas, California and Pennsylvania were down by one apiece. Colorado, West Virginia and Wyoming were unchanged. The rig count peaked at 4,530 in 1981, the height of the oil boom. A low of 488 was recorded in 1999.

 

Official says early signs are positive on oil play north of Baton Rouge

The Tuscaloosa Marine Shale formation covers 2.7 million acres across southwest Mississippi and central Louisiana, including the Felicianas, St. Helena Parish, and areas in northern Pointe Coupee, East Baton Rouge and Livingston parishes. A 1997 LSU study estimates it could contain about 7 billion barrels of oil. While wells have been drilled in the shale in the past with some success, advanced drilling techniques could make the formation more productive. "They've got some wells that are getting ready to be drilled that are going to be significant, kind of the proof of the pudding," says Louisiana Oil & Gas Association President Don Briggs. "But there's enough leasing going on to give you some satisfaction that obviously it's pretty damn good, or they wouldn't be spending the money on leases they're spending. … They're drilling the additional wells because what they got looked pretty good." North Louisiana's Haynesville Shale remains far better known. However, Haynesville is a natural gas play, and natural gas is far less profitable at the moment than oil, a factor that adds to the Tuscaloosa formation's attractiveness. On the other hand, Briggs says, companies drilling in the Haynesville Shale almost are guaranteed to hit pay dirt; it remains to be seen if the Tuscaloosa formation will be that productive. Devon Energy, Indigo II Louisiana [a division of Indigo Minerals], Denbury Resources, and Goodrich Petroleum are among the companies reported to be exploring in the formation.

 

GS Financial approves $26.2 million Home Bank buyout

GS Financial Corp. says its shareholders have approved overwhelmingly the banking company's $26.2 million deal to be acquired by Home Bancorp Inc. Lafayette-based Home Bancorp will get GS Financial's five offices in the New Orleans area, along with a loan production office. Metairie-based GS Financial operates under the Guaranty Savings Bank logo. Currently, Home Bancorp has 18 Louisiana banking offices in Lafayette, Baton Rouge and the parishes north of Lake Pontchartrain. Home Bancorp says the combined bank will have total assets of about $950 million, $625 million in loans and $750 million in deposits. The purchase is set to close during the current quarter.

 

College Drive demolition work clears way for Chick-fil-A

The old Derek Chang's Koto of Japan restaurant on College Drive has been demolished to make room for a new Chick-fil-A restaurant. The building was torn down last week. George Kurz of Kurz & Hebert Commercial Real Estate, who had the listing for the property, says Chick-fil-A has received a building permit and signed a lease for the site. Kurz says construction on the new restaurant should start in the next three months. Chick-fil-A has been rumored for more than a year to be interested in the property across the street from a Walmart Supercenter. The chicken chain has five locations in Baton Rouge.

 

Rod's Notes For Wednesday 07/06/11


Wednesday 07/06/11

 

To participate in the show live call 318-442-8255 (talk)

Between 8:05 and 8:55 on Wednesday morning, do not attempt to call in on Saturday as this is our encore performance (fancy way to say taped). So remember questions, comments, corrections, or if I have not returned your call you can reach me live on Wednesday mornings at 318-442-8255. Youcan now sign up on line for email distribution of my  transcripts for the show: www.kysl.com and click on Rod Noles sign up if you want my notes

 

Guest  Ivan J. Miestchovich, Ph.D. Director and Associate Professor Institute for Economic Development and Real Estate Research University of New Orleans

 

Every Deal has a tale / tail.

 

Sabine State Bank (P O Box 670, Many, LA 71449) to Kirzner Investments, LLC (1406 Lake Dr., Woodworth, LA 71485) - .6887 acres in Sec 32, T4NR1W (1133 MacArthur Dr., Alex., LA 71301), $507,000.00.

Kirzner Investments, LLC (1406 Lake Dr., Woodworth, LA 71485) to Red River Bank (1412 Centre Court, Alex., LA 71301) - .6887 acres in Sec 32, T4NR1W (1133 MacArthur Dr., Alex., LA 71301), $590,750.00. Spencer Marksboth sides

 

Meyer, Meyer, Lacroix & Hixson, LLc (100 Engineer Place, Alex., LA 71303) to 348 Park Place, LLC Susan & Jeff Staples (5501-C John Eskew Blvd., Alex., LA 71303) - Lot 13, Mac-Lee Plaza (3609 Mac-Lee Dr., Alex., LA 71301), $120,000.00. Matt Ritchiehad both sides of this deal and he still have MMH&L 6,000 square foot office for sale.

 

Crown Pine Realty 4, Inc. to The 584, LLC (1070 Rob Mac Road, Ville Platte, LA 70586) - Tract in Sec 5, T2SR3W, et al, $1,092,800.00

 

Crown Pine Realty 4, Inc. to Keith A & Kathleen W Mason (17 Ellis West Road, Pitkin, LA 70656) - 29.74 acres in Sec 17, T1SR5W, et al, $71,000.00

 

Magnolia Pharmacy Services, LLC (3700Bayou Rapides Road, Alex., LA 71303) to Central Louisiana Aids Support Services ,Inc. (1785 Jackson St., Alex., LA 71301) - Part of Blk O, Clarence park Addn. (1783 & 1785 Jackson St., Alex., LA 71301), $187,000.00. Paul Maxwellwas listing agent not sure if he had both sides.

 

New Drive Inn only Pizza Hut in former Block Buster building on highway 28 East.

 

New Construction:

 

Holiday Inn Express on MacArthur Drive new hotel under construction behind former Burger King. Staff called yesterday making an inquiry for the show and person who answered the phone told Mary Ann it was none of her business what type hotel was being built. Permit office was closed when we call Holiday Inn Express but I will let you know next week.

 

Larry Bordelon has slab down at former North Circle for a build to suit industrial tenant.

 

BMW and Mercedes new dealership is now open for business, finest service department we will ever see in this market. Remember “When other want Walker will.”

 

Banc Corp South construction on Jackson Street is in full swing

 

96 apartment units as expansion of Magnolia Trace in the Lake District has roofs on some of the buildings. Eventually all buildings will have roofs.

 

People not properties:

 

Wayne Vallery, agent with Matt Ritchie passed away yesterday after long battle with cancer.

 

Foster Walkerelected chairman of La. Automobile Association see attachment for more

 

John Hesni: recognized by HUD in South East region of America for fastest closing 19 days from list to close. Part of Jack email laid claim that HUD stood for “Hurry Up Darling.”

 

James Greerwith D&J has first “Front Page book mark ad” this past Monday to advertise 13 properties and 4 companies. I need to see if Mr. Greer received lots of calls from this ad on Monday.

 

Attachments, Announcements, and Travels;

 

Two subdivision studies: Left Bank and Harmony Hilss

 

Press release regard Foster Walker election to Chairman of Automobile association.

 

http://www.thealluvian.com Greenwood, Mississippi: This is where Marilyn and I spent week end for the 4th. Four Star 45 room hotel in downtown Greenwood. Cooking school and Spa great place to spend the week end, nearly 5 hour drive so leave early on Friday stop in Greenville and dine at “Does Eat Place,” On the list of Top 100 hotel in America.

 

Mykoff absorption study for June: Dr. Ivan do you track this number and what would near 9 absorption tell you?

 

8.88 months supplyfor total market 755 homes for sale 85 sold 145 new homes on the market

 

44 month supply $400,000 number for sale is 44 and 1 sold 1 new home on the market

 

10.44 month supply $250,001 to $400,000 number for sale was 94 and 9 sold with16 new ones for sale

 

8.33 month supply $150,001 to $250,000 number for sale was 200 and 24 sold 30 new ones came on the market

 

8.18 month supply under $150,000 number for sale was 417 and 51 sold with 98 new homes on the market.

 

June 29 New York Times Poll:Owning a house remains central to Americans’ sense of well-being, even as many doubt their home is a good investment after a punishing recession. Nearly nine in 10 Americans say homeownership is an important part of the American dream, according to the latest New York Times/CBS News poll. And they are keen on making sure it stays that way, for themselves and everyone else. Support for helping people in financial distress over housing is higher than support for helping those without a job for many months. Making an offer for a house, something often done in past generations with little apprehension, is now riddled with worry. Only 49 percent call it a safe investment, while 45 percent feel it is risky. In a market where prices are consistently dropping, there is no easy exit

 

(+3) Rod’s economic indicatorperfect 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. Rating for previous week was 2

 

Legal recorder data for five business day June 27, 2011 though July 1, 2011

 

(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.

(5) Two random residential sales compared to average prices for 2008, 2009 and 2010 that demonstrate increase prices.

 

(+1) Total saleslooking for 40 closed deals from previous week the market gave; Through Thursday 38 sales $4,254,803 no sales for Friday were reported.

 

Pending Home Sales Turn Around in May  

Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of REALTORS. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which normally occur with a lag time of one or two months. This is the first time since April 2010 that contract activity was above year-ago levels, and the monthly gain was the strongest increase since last November when the index rose 10.6 percent. Absorption of inventory is the key to price improvement, and this solid gain in contract signings implies that home values in many localities are or will soon be stabilizing as inventories get absorbed at a faster pace

 

 

(+1) Random sales comparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.

 

(+.50)Phillip R & Becky J Prestridge (1254 Meadow Way, Terrell, TX 75160) to Charles M & Brittany L Ashburn (715 Ocean Parkway, Berlin, MD 21811) - Lot 5, Harmony Hills North (6431 Barber Dr., Pineville, LA 71360), $187,500.00. Sale we are tracking is higher than 2008 or 2009 average, in past 18 months only two sales in Harmony Hills.

 

(+.50)Gregory M & Elizabeth S Cooperrider (General Delivery, Roseburg, OR 97470) to James R Beatty, IV & Tracey C Beatty (5445 Provine Place, Apt. 1316, Alex., LA 71303) - Lot 23, The Left Bank Subd. (3816 Rue Left Bank, Alex., LA 71303), $650,000.00. Three home sales in past three years $550,000, $750,000 and $650,000 = average $650,000

 

(+1) Lot SalesOnly need one sale for positive score and this week the market gave us

 

Edwin E & Kerry B Dye (295 Wilderness Dr., Boyce, LA 71409) to RDK Properties, LLC (1423 Lee St., Alex., LA 71301) - Lot 8, Magnolia Ridge Subd., $130,000.00

 

 

(-1) New Home sales positive score requires only one sale for the week: this week the market deliver zip, zero, not one sale for new homes.

 

 

(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales. Three sales totaled $753,000 / $4,254,803 = 17.69%

 

Sabine State Bank (P O Box 670, Many, LA 71449) to Kirzner Investments, LLC (1406 Lake Dr., Woodworth, LA 71485) - .6887 acres in Sec 32, T4NR1W (1133 MacArthur Dr., Alex., LA 71301), $507,000.00

 

Sabine State Bank (P O Box 670, Many, LA 71499) to Lewis Chapel Pentecostal Church, Inc. (536 Little Egypt Road, Marthaville, LA 71450) - Lot 10, Idelia Place, et al (122 Kathryn Ave., Alex., LA), $21,000.00

 

The Union Bank (305 North Main St., Marksville, LA) to Clyde C & Catherine K Holloway (P O Box 340, Forest Hill, LA 71430) - 28.74 acres in Sec 20, T1SR2W, $225,000.00

 

Interest Rates: 30 year fixed is 4.58% was 4.50% the 15 year rate is 3.71% was 3.67% this is up from last week following eight straight weekly declines. 5/1 ARM is 3.16% was below 3%. Dr. Ivan where do you think interest rates are headed?

 

New addition to show: Each week will highlight different national companies that have a presence here in Central La.

 

First company will be Auto Zone

2 Billion in sales for 3rd quarter

5.4% same store sales increase

12.1% increase in profits

4,467 stores in 48 states largest auto part store in America

213 new sotres in past fiscal year

$297.98 recent price of single share of stock an all time high

5.7% growth for competitor O’Riley

6,000 to 7,200 square feet is the typical store (divided evenly between leased and owned)

Most stores are free standing but will consider in line store like in Kingsville

Demographics consider vehicle profile looking for 7 year or older ownership no remaining warranties and do it yourself repairs.

 

 

 

Archives:

2013-12 | 2013-11 | 2013-10 | 2013-09 | 2013-08 | 2013-07 | 2013-06 | 2013-05 | 2013-04 | 2013-03 | 2013-02 | 2013-01 | 2012-12 | 2012-11 | 2012-10 | 2012-09 | 2012-08 | 2012-07 | 2012-06 | 2012-05 | 2012-04 | 2012-03 | 2012-02 | 2012-01 | 2011-12 | 2011-11 | 2011-10 | 2011-09 | 2011-08 | 2011-07 | 2011-06


God Bless America!

970 KSYL On Air Now
Mark Levin
Mark Levin
5:00pm - 8:00pm
Mark Levin
Weather
Alexandria, LA
Cloudy 72°F
  • 59% humidity
  • Winds at 3 mph
Full Forecast
KSYL News

The KSYL Morning Report

Monday Thru Friday 7:10a

Host

Dave Graichen

Click Player To Listen

 

The CBS World News Roundup

Click Logo To Listen To Latest Broadcast

 

 


 

This Is OUR News Commitment!

 

Local News
On Twitter
Weekends

 

All Weekend Long

It's a

Political Free Zone!

Rod Noles, Kim Komando, Gary Sullivan, The "Weekend" Roundup, Leo Laporte, Art Bell, The Real Estate Show, Bill Handel, Chef John Folse "Stirin' It Up" The "Talk Radio Countdown"..

A Veteran Died Today

Lynn Rollins

"A Veteran Died Today"

Click Lynn's Picture To Listen..

Chef John Folse

Chef John Folse & Company

"Stirin' It Up"

Saturday At Noon!

 

 

 

Eastleigh Farms

Eastleigh Farm

LinkedUpRadio Envisionwise Web Services