Rod's Notes Archives for 2011-08

Rod's Notes For Wednesday 08/31/11


Wednesday 08/31/11

 

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:

 

Rod, Use this for your show on Wed.

 

We are starting construction on a Dollar General project in Santa Fe NM & have some Prairie Dogs that are on the property. Local ordinance requires we hire an “Approved Prairie Dog Trapper”. You just can’t make this kind of stuff up!!

 

All you Need to Know about Government Bureaucracy

Pythagorean theorem ....................................................24 words (basically a squared = b squared = c squared)**

Lord's prayer ..................................................................66 words

Archimedes' Principle ...................................................67 words (buoyancy theory 212 BC) **

10 Commandments ......................................................179 words

Gettysburgaddress .....................................................286 words

Declaration of Independence ...................................1,300 words

US Constitution with 27 Amendments ................... 7,818 words

US Government regulations on sale of cabbage 26,911 words

 

What have we learned in 2,066 years? - Cicero - 55 BC

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."

 

Read my first blog this week read Lamar White’s blog he is definitely not in the “maybe column” with his opinion but boy he sure writes well.

 

LRAPAC auction September 15th you can bid and buy dinner with former Edwin Edwards.

 

Friday night high school football starts this week, hopefully our community will step up and support players, coaches, band, dance line, and cheer leaders.

 

Featured property of the week: Mardi Gras Plaza on Jackson street Matt Ritchie’s listing but I can sell it to you.

 

 

People not properties:

 

Howard Mulder 91 past away this week, he and late wife Eloise restored Ashton Plantation. Howard was one of 5 share holders of family business Millers Welding equipment. Share with listeners Buddy Roemer fund raiser and visit to their home in Palm Desert.

 

Both of our state’s United States Senator’s made visits this month to meet with local Chamber of Commerce. Why couldn’t this be front page?

 

LLC who are they

 

Southern Heritage Bank Vs PSB Partners, LLC, et al, $211,215.01

                                                        

Every Deal has a tale / tail.

 

Prudential Gardner dropped the Prudential Franchise this past Monday and will now be known as Gardner Realty

 

Zoning Commission approved two tax credit housing developments this past week, will be interesting to see what Economic and Development committee does with these items when they are placed on the agenda.

 

Penske Fleet management opened last month on Industrial Ave. former home for H&E equipment. This was a push, pull, and drag deal for V&V.  

 

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.

 

Legal recorder data for five business day August 22, 2011 though August 26, 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.

 

Total saleslooking for 40 closed deals from previous week market provided volume $5,449,187 with 50 sales. Last week in the month last month in summer buyer’s cycle, and 4.5% interest rate. My hope was this week would be north of $5,000,000 and 50 sales. Our market is so lucky compared to other parts of the nation. Let’s talk why?

 

England Air Base Closing less than 2 decades past

Rural markets did better than urban in more moderate buying and borrowing.

Did not participate in the bubble, said on the show just 48 months back 20% to 40% was not only unsustainable but was dangerous.

 

(0) Random salescomparison: We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this. One up and one down for zero sum score.  

 

Jimmy R & Belinda W Dillon (99 Birdie Lane 22-3, Branson West, MO 65737) to Linda L Rogers (4040 Parliament Dr., Apt. 133, Alex., LA 71303) - Lot 16, Sq A, Castle Village Subd. (3712 Gingerbread Road, Alex., LA 71303), $142,500.00

 

Gerald J Deselle (641 Brockenbrough Court, Metairie, LA 70005) to B2 Property Management, LLC (117 Eola Dr., Alex., LA 71303) - Lot 13, Blk A, L E DeSelle Subd. (4208 Leon Dr., Alex., LA 71303), $110,000.00. Average for 11 sales since January 2008 is $135,000 sale we are tracking $110,000

 

Snap shot sample but if week after week I see negative rating in both random sales it demonstrate decline in values which has been uncomfortable mostly with appraisers but not yet painful in general market.  

 

Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us

 

Travis S Young & Brian T Young (50 Perry Road, Forest Hill, LA 71430) to Armando & Adelina Rubio (48 Lamkin Road, Forest Hill, LA 71430) - 2 acres in Sec 22, T1NR1W, $16,000.00

 

Travis S Young & Brian T Young (50 Perry Road, Forest Hill, LA 71430) to Ray V & Nataya P Atkinson (66 Perry Road, Forest Hill, LA 71430) - 4.697 acres in Sec 22, T1NR1W, $57,727.50

 

Paula J Moore (P O Box 156, Hineston, LA 71438) to Mark E Moore (140 Harper Road, Hineston, LA 71438) - 10 acres in Sec 25, T2NR4W (140 Harper Road, Hineston, LA 71438), $15,000.00

 

DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to James E Deegan (833 Hiawatha Trail, Pineville, LA 71360) - 1.15 acres in Sec 21, T5NR1E, et al, $30,000.00

 

Frankie C & Sharon B Foster (4715 Whispering Pines Loop, Pineville, LA 71360) to Jessica R Williams (25 Big Island Loop, Deville, LA 71328) - 2.228 acres in Sec 4, T4NR2E, $35,000.00

 

New Home sales positive score requires only one sale for the week:

 

V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Chrystal K Thompson (176 West Lauren Dr., Alex., LA 71303) - Lot 331, West Pointe on The Bayou, Phase XII (176 West Lauren Dr., Alex., LA 71303), $352,000.00

 

Bryan N Peart, Jr. & Inez M Peart (201 Peart Lane, Pineville, LA 71360) to Timothy E & Colleen M Velotta (6412 Arden Oaks, Alex., LA 71301) - Lot 188, Tennyson Oaks Subd., Phase 7-C (6412 Arden Oaks, Alex., LA 71301), $415,000.00

 

Gary Elliott Construction, Inc. (1201 Brannon Road, Pineville, LA 71360) to Travis A & Heather C Roy (5 Prairie View Road, Deville, LA 71328) - Tract in Sec 4, T4NR3E (5 Prairie View Road, Deville, LA 71328), $167,000.00

 

Zero rains days during summer construction season you would think every building project is ahead of schedule. The oppressive heat has greatly reduced work production according to my friend Scott Wallace project manager at the Lake District.  

 

Lender total Salesrates positive score if lender sales are below 5% of total sales.

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Price Co Development Corp. (1935 Melrose St., Pineville, LA 71360) - Lot 29-A, Gardner Acres Subd., Rev. # 2 (46 Kendall Lane, Boyce, LA 71409), $10,000.00

 

Dept. of HUD to Mill Half, Inc. (P O Box 5463, Alex., LA 71307) - Lot 9, Blk 2, College Park Addn., $52,500.00

 

Dept. of HUD to William Mattox (6703 Isabella Dr., Alex., LA 71301) - Lot 1, Blk 7, Penny Acres Subd., $77,777.00

 

Lender to Guarantor (it’s yours now)

 

Bank of America to Federal National Mtg. Assoc. - Tract in Sec 18, T2NR1W, et al, $173,637.72

 

Aurora Loan Services, LLC (2617 College Park Dr., Scottsbluff, NE 69341) to Sec. of Veterans Affairs - 3.619 acres in Sec 18, T2Nr4W, $49,420.20

 

Midfirst Bank (999 NW Grand Boulevard, Oklahoma City, OK 73118) to Dept. of HUD - Lot 32, Sq A, Crawford Addn., $26,160.20

 

Interest Rates: 30 year fixed is 4.19% was 4.35% the 15 year rate is 3.43% was 3.51% . 5/1 ARM is 2.92% was below 2.89%.

 

 

Archimede’s Principle: an object is immersed in a fluid is buoyed up by a force equal to the weight of the fluid displaced by the object. This became known as Archimede's principle. The weight of the displaced fluid can be found mathematically. The fluid displaced has a weight W = mg. The mass can now be expressed in terms of the density and its volume, m = pV. Hence, W = pVg.

In mathematics, the Pythagorean theorem or Pythagoras' theorem is a relation in Euclidean geometry among the three sides of a right triangle (right-angled triangle)the square of the hypotenuse is equal to the sum of the squares of the other two sides. In terms of areas, it states:

 

Rod's Notes For Wednesday 08/24/11


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:

 

“The Help” is a great movie, If I didn’t think it deserved several academy awards you could actually look forward to sweep at the Oscars.  Octavia Spencer and Viola Davis were great in their roles and producer made you feel like you were in 1962. A must see movie.

 

September 8th and 9th CCIM intro Baton Rouge La. two great instructors Rod Noles and Karl Landreneau register on ccim.com 

 

A Town Jazz this Friday see attached flyer this is a fun fund raiser helps the Art Council of Central La. $25 from 7;00 to 9:00 in Coughlin Saunders center Friday August 26th

 

NAR has fund raiser at Exhibition Hall this week end need drive by reporters to call in and tell us more. I know the funds goes toward young fire arm safety programs.

 

Featured property of the week: Corner of Sterkyx Road and North Mall Drive 1.5 acres price adjusted to meet market conditions $7.50 psf now asking $495,000. (survey attached)

 

 

People not properties:

 

Howard Gist 91 years old passed away this week, respected attorney, banker, civic leader and family man. I am glad to have known him.

 

Jamie Lemoineand Mike Jenkins thanks for pitch hitting while I was in New Orleans at NAI conference.

 

Kay Brown and other who take it upon themselves to maintain Serenity Fields

 

LLC who are they

 

Pennington Properties, LLC (321 Jacob B Loop, Alex., LA 71303) to Humphrey H Hardy, II & Kathryn M Hardy (2519 Jackson St., Alex., LA 71301) - Lots 16 & 17, Hayden-Bolton Place (2519 Jackson St., Alex., LA 71301), $145,000.00. Third home from Jackson and Bush thought it was commercial at first.

 

BDR Properties, LLC (111 Rebel Run, Pineville, LA 71360) to Quality Care Givers, Inc. (P O Box 11589, Alex., LA 71315) - Part of Lots 33 & 34, Experimental Plantation, $100,000.00. Barry Hines represents buyer entity and land is 1.626 acres my suspicion is this is raw land for health care facility of some type on Highway One North.

 

Kenneth C & Betty L Lewing (502 St. Clair Road, Boyce, LA 71409) to D'Argent Properties, LLC (1460 Centre Court Dr., Alex., LA 71301) - 1.755 acres in Sec 1, T3NR4W, et al, $185,000.00. Best I can tell this is parcel on highway 28 West near St.Clair Road and will most likely be the site of a new Dollar General  price per square foot is $2.42.

                                                        

Every Deal has a tale / tail.

 

Lower third is closed to business sent David Strange back to Jackson Mississippi wanted to build 64 more apartments and 8,000 square foot shopping center and the Economic Development committee sent him packing. If the Mayor is for it the certain members of the council are against in and there goes opportunity for commercial center on Hodges Auction property. My prediction is that property will set just like it is for next 10 years. How often are we going to have investor who has a $10,000,000 package of 64 apartments and 8,400 sf new retail for local business come to lower third.

 

Upper Third Robbie Tarver building new building on his construction yard, right in the shadow of new bridge construction

 

Two new homes under construction at Alexandria Golf and Country Club first time I have seen them while in route to “Boots and Bow Tie” fund raiser for American Cancer Association.

 

Centennial Communications Corp. to Central Louisiana Cellular, LLC (1170 Devon Park Dr., Suite 104, Wayne, PA 19087) - Lot 81, Metroplex Subd., Phase III, 2nd filing (2006 MacArthur Dr., Alex., LA 71301), $1,300,000.00. I did not count this sale in my weekly total.

 

Nation wide foreclosures for single family homes on the up tick 8.44% of home owners missed at least one mortgage payment. To compare this to normal market of 1% as published in many papers and on line is a faulty comparison. The 1% number is what actually goes into foreclosure and late payments has been as high as 10% at its peak.

 

Knowing that Feds have announced interest rates would remain low for next 24 months actually hurts sales. Fearing that rates might increase motivates people to “lock in” low rates now and buy. Very few people are waking up saying I think we should buy a house today. Lack of confidence in employment, stock market, and fear of declining values has too many potential buyers on the side lines.

 

Cash in savings accounts is triple what it was in 2008 and my prediction is it will only increase through the balance of this year.

 

64 units at Legacy Hieghts now have people moving into the apartments. Alexandria Housing Authority now has reputation of how best not to run a housing authority.

 

EnglandAir Parkpurchases oops they didn’t buy anything this week.

 

Construction Contracts

 

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.

 

Legal recorder data for five business day August 16, 2011 though August 19, 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.

 

Total saleslooking for 40 closed deals from previous week market provided volume of $3,870,000 with 32 sales.

 

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

 

Roy G & Patsy H Beck (210 Wiesner Road, Unit 2, Spring Branch, TX 78070) to Clifford T & Katherina L Pierce (400 Terra Ave., Alex., LA 71303) - Lot 25, Woodridge Subd., Unit # 2 (4113 Mayflower Blvd., Alex., LA 71303), $180,000.00. Average price on the few sales market has provided is $215,333 the sale we are tracking is $180,000 rates negative score for the week

 

Pennington Properties, LLC (321 Jacob B Loop, Alex., LA 71303) to Humphrey H Hardy, II & Kathryn M Hardy (2519 Jackson St., Alex., LA 71301) - Lots 16 & 17, Hayden-Bolton Place (2519 Jackson St., Alex., LA 71301), $145,000.00. Seven sales average $114,158  this week’s sale beat the average at $145,000 for positive rating.

 

(1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us 6 or half dozen.

 

Palmetto Enterprises, LLC to Johnny Porter Builder, inc. (42 Philadelphia Road, Pineville, LA 71360) - Lot 9, Shady Crest Subd., Phase 1 (103 Shady Crest Lane, Deville, LA 71328), $27,000.00

 

F & J Investments, LLC (4507 Waverly Blvd., Alex., LA 71303) to Joseph A Lamanna, et al (368 Deer Trace, Apt. 466, Pineville, LA 71360) - Lot 23, Hidden Path Subd., Phase II (201 Hidden Pines, Pineville, LA 71360), $70,000.00

 

Commercial Partners, LLC (3219 Marye St., Alex., LA 71301) to Lambert Recreational Properties, LLC (P O Box 215, Hessmer, LA 71351) - Lot 5, Elza Hebert Estates, $50,000.00

 

New Way Investments, LLC (P O Box 4117, Pineville, LA 71360) to Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) - Lot 16, Williams Lake North Subd., Phase II (308 Nickel Loop, Pineville, LA 71360), $22,500.00

 

Olson's Properties, LLC (8782 Hwy. 1200, Boyce, LA 71409) to Michael L Satcher, II & Courtney R Satcher (109 Morgan St., Ball, LA 71405) - Lot 4, Colina Heights Subd., $17,000.00

 

(+1) New Home sales positive score requires only one sale for the week: that’s what we have one new home sale for the week

 

Brittain & White Construction, LLC (5521 Jackson St., Alex., LA 71303) to Robert S & Stephanie L Worley (508 B Ansley Blvd., Alex., LA 71303) - Unit 508, Phase I, Building 9, Cypress Point Condominiums, $159,500.00

 

(+1) Lender total Salesrates positive score if lender sales are below 5% of total sales. This week there was only a single sale of $11,268 / $3,870,000 = not even 25% of 1%

 

Deutsche Bank, et al to Fred R Cull, Jr. & Charlotte B Cull (146 Lakeland Dr., Pineville, LA 71360) - Part of Lots 3 & 4, Blk 101, Poplar Grove Addn. (2316 Orange St., Alex., LA 71301), $11,268.00

 

Lender to Guarantor (it’s yours now)

 

Interest Rates: 30 year fixed is 4.19% was 4.35% the 15 year rate is 3.43% was 3.51% . 5/1 ARM is 2.92% was below 2.89%.

 

Money will fund expansion, create at least 500 jobs: Chennault International Airport in Lake Charles will get $14 million in state funding that will go toward the cost of building a new hangar. Gov. Bobby Jindal says the expansion will attract at least 500 new aircraft maintenance, repair and overhaul jobs to the area. "This airport has been bursting at the seams with work, and with this $14 million investment, more facilities will become available for current and prospective tenants, providing space for the continued growth of aviation maintenance operations that will position the airport to attract hundreds of new jobs to the area," Jindal says. The $18.5 million hangar will have four open bays, big enough to handle larger wide-body airplanes, like the Boeing 747 or 777 or the Airbus A340. Aerofame, which handles maintenance and repair for firms such as FedEx and US Airways, already has 300 employees at Chennault and is on track to hire 650 by 2013.

 

First-time unemployment claims increase in La.

First-time claims for unemployment insurance increased in Louisiana for the week ending Saturday. The Louisiana Workforce Commission figures released today show the initial claims rose to 4,033 from 3,857 for the week ending July 30. The figure was lower than it was for the comparable week a year earlier, when there were 4,305 initial claims. The four-week moving average, which is a less volatile measure of claims, decreased to 4,103 from 4,108 for the week ending July 30. Continued unemployment claims filed for the week ending Saturday were 48,392, an increase from 48,216 the previous week.

 

LouisianaFastStart tops national training list

Louisiana FastStart has been singled out as the best workforce training program in the nation for the second year in a row by Business Facilities magazine. The state topped all others, with Georgia and North Carolina following. The ranking takes into account training incentives, success in securing projects, coordination between economic development and education organizations, and other factors. Launched in 2008 as part of Gov. Bobby Jindal's workforce development reform plan, Louisiana FastStart was created within Louisiana Economic Development to foster job creation through business expansion and recruitment. FastStart provides employment services at new or expanding business facilities. Services are offered at no cost to eligible Louisiana companies. Baton Rouge clients include Electronic Arts Inc., Stupp Corp. and The Baton Rouge Coca-Cola Bottling Co.

 

 

Rod's Notes For Wednesday 08/10/11


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.

 

Thinking about electronic billboard with graph of DJA for last 10 days behind big photo of Rod and narrative that says, “miss me yet? Let’s talk about investment real estate.

 

Better than what the new retail casket companies might come up with, “we’re the last to let you down” or “guaranteed satisfaction or your mummy back”

 

Attachments, Announcements, and Travels:

 

Two studies one of Harmony Hills and the other Timber Trails.

 

Highway 190 East bound land will be closed from Friday 7:00 pm until Monday at 5 am. Try going through St. Francesville The new bridge is beautiful and the route is 15 minutes longer. If you go this way pay attention to speed limits going through small towns.

 

Back to school shopping second only to Christmas holidays and my drive by research appears to be lots of parents out preparing for start of school. Please drive carefully next week around our schools.

 

Featured property of the week: 10,000 sf warehouse at 6523 Masonic Drive former Skate World. Climate control, loading dock, great highway access. Might be the only 10,000 square foot building in the market place that is for rent $3,500 per month.

 

 

People not properties:

 

Governor Edward’s visit to Rotary was a hit with the crowd. He packed the house, looked great, and his range was from Cajun jokes to Greek mythology. During Q&A I asked if there were any funny one liner he remembers from the campaign trails.

 

Central La.lost a good friend and community activist with passing of our friend Chuck Saucier.  

 

LLC who are they

 

Patricia P Mayeux (499 Cumming Dr., Pineville, LA 71360) to Apogee, LLC Jon Norman(299 Versailles Blvd., Alex., LA 71303) - Lot 11, Verde Vista Subd. (499 Cummins Dr. ,Pineville, LA 71360), $42,500.00

 

Luneau Deville Properties, LLC Raphael Luneau(5028 Old Marksville Hwy., Pineville, LA 71360) to Malcolm L & Rebecca R Burns (4111 Leon Dr., Alex., LA 71303) - Lot 7, Stone Manor Subd., Phase II, et al, $90,000.00

 

Pearlie B Clark (3916 Maywood St. ,Alex., LA 71302) to Elite Rentals, LLC Lucas Gerald Lacour(P O Box 318, Dry Prong, LA 71423) - Lot G, Sq 1, Meyer resubdivision of Lots 6-10, Sq 1, Woodside Park Subd. (3506 Queens Court, Alex., LA 71301), $15,372.00

 

Sombreros restaurant opened this week Copelands opened last week and week prior to that Spoons opened and this week Kracked Kernel candy store at 4508 Coliseum Blvd.

 

Vanguard Synfuels reopens in Pollock Darrell Dubroc was able to secure $10.4 million loan from USDA. The plant will employee 25 people initially.

 

Highway 71 South former Monsanto agriculture products building (I once owned this property) sold it to Odey Laverne and looks like he is building new improvements but I need help from “drive by reporter”

                                                        

Every Deal has a tale / tail.

 

Ritchie Properties, LLC (1268 Dorchester Dr., Alex., LA 71303) to JEC Real Estate Investments, LLC (3003 Old Forge Dr. Suite B, Baton Rouge, LA 70808) - Lot 1, Ritchie Center, $555,443.00. Burger King purchased part of Garden District shopping center Randy Boughton with Latter & Blum In Baton Rouge was selling agent. Randy represented the same group last year in purchase of former Hickory Hut. Ask listeners why BK would want to be on this side of the street.

 

John A Davis, III (2280 Choto Road, Knoxville, TN 37922) to Joseph C & Sandra G Hopewell (5514 Greenhealth Lane, Katy, TX 77450) - 11 acres in Sec 87, 88, & 52, T4NR3W, et al, $1,000,000.00. Jo Ann Deville with Keller Williams was selling agent and Lynette Giallonardo with Ritchie property was listing agent. This is the second sale this month where physician are buying $1,000,000 properties. Major point at Kincade Lake.

 

Southern River Restaurants, LLC (296 Highland Blvd., Natchez, MS 39120) to BRH Properties, LLC (296 Highland Blvd., Natchez, MS 39120) - 1.729 acres in Sec 43, T4NR1W (1500 MacArthur Dr., Alex., LA), $1,750,000.00. Apple Bee sale not arms length transaction but could be indication to value was not used in the total for REI.

 

Edward Larvadain, Jr. to Hashem Aldalaly, Inc. d/b/a King City III - Part of 2901 Third St., Alex., LA, for 5 years @ $1,400.00 monthly (2901 Third St., Suite B, Alex., LA) need help from “drive by reporters”

 

EnglandAir Parkpurchases oops they didn’t buy anything this week.

 

Construction Contracts

State of LA to Tudor, Inc. (P O Box 13135, Alex., LA 71315) - State emergency megashelter warehouse, LSU AgCenter, $388,000.00

 

(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.

 

Legal recorder data for five business day August 1, 2011 though August 5, 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 market provided volume of $5,690,316 with total of 45 transactions.

 

There still, however, is no shortage of housing inventory. More than 3.75 million existing homes in June alone were on the market, according to the National Association of Realtors. At the latest rate of sales, it would take 9.5 months to exhaust that inventory, about 50% longer than what NAR considers a healthy housing market. Per Mykoff report last week our local market was at 9.75 month absorption rate.

 

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

 

Mark K & Robin A Hankins, et al (314 Sage Hill Dr., Shreveport, LA 71106) to Miranda S & Wade A Derrick, et al (1013 Amber Lane, Pineville, LA 71360) - Lot 114, Harmony Hills Subd., Phase III (1013 Amber Lane, Pineville, LA 71360), $185,000.00. 2008 there were only 4 sales and then one sale each year for 2009, 2010, and 2011 year to date. The average for 2008 compared to average for next three years was as follows 2008 was $153,475 compare to 159,333 or 3.81% increase and average of all sales is $155,857 the sale we are tracking is $185,000 for positive score.

 

William B Killen (P O Box 157, Waterproof, LA 7137) to Jonathan D & Robin R Watkins (8127 Ridgemont Dr., Pineville, LA 71360) - Lot 51, Timber Trails Subd., Ext. # 2, $138,000.00. Timber trails had zero not one but zip sales in 2008 in 2009 there were 3 sales in 2010 there were 2 sales and 2011 year to date 3 sales. Average sales price since January 2008 until August 2011 is $144,612. Average sales price in 2009 was $125,000 then 2 sales in 2010 average price was $161,200 on surface it would register 28% increase in values but sampling is too small to make this call. 2011 so far has witness 3 sales ranging from $92,000 to $229,000. Best average is three year is $144,612 and sale we are tracking is $138,000 for negative score.

 

 

(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us 6 sales 5 of those sales was developer’s inventory.

 

Robert W & Marlene A Biggs (4885 Hwy. 494, Natchez, LA 71456) to Malcolm L & Rebecca R Burns (4111 Leon Dr., Alex., LA 71303) - Lot 3, Stone Manor Subd., Phase I, $15,000.00

 

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 236, Bocage Subd., Phase V (5810 Hannah Dr., Alex., LA 71303), $22,000.00

 

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 210, Bocage Subd., Phase V (5819 West Austin Dr., Alex., LA 71303), $22,000.00

 

B & B Office Holdings, LLC (P O Box 2167, Prairieville, LA 70769) to Samson Construction, LLC (37177 Heritage Court, Geismar, LA 70734) - Tract in Sec 8, T4NR1E (314 Shadow Creek Ave., Pineville, LA 71360), $36,000.00

 

Bocage Subdivision of Alexandria, LLC (P O Box 12846., Alex., LA 71315) to Thomas Bolton Properties & Construction, LLC (4821 Porter Circle, Alex., LA 71303) - Lots 239 & 240, Bocage Subd., Phase V (5834 & 5842 Hannah Dr., Alex., LA), $75,000.00

 

(+1) New Home sales positive score requires only one sale for the week: market provided 4 none in Pineville.

 

Martel D Cassell (1945 Cassell Road, Woodworth, LA 71485) to Timothy M & Leanne R Louviere (4051 Bayou Rapides road, Apt. 1202, Alex., LA 71303) - Lot 183, Bocage Subd. (5962 Ron Mar Dr., Alex., LA 71303), $210,000.00

 

V & V Builders, LLC (P O Box 12846., Alex., LA 71315) to Alton J Horn, Jr. & Miranda H Horn (5827 Hannah Dr., Alex., LA 71303) - Lot 231, Bocage Subd. (5827 Hannah Dr., Alex., LA 71303), $198,500.00

 

D J H Real Estate Investments, LLC (1104 Palmer Chapel Road, Pineville, LA 71360) to Maurice P & Shontel C Seneca (8 Indian Creek Road, Woodworth, LA 71485) - .282 acres in Sec 17, T2NR1W, $158,500.00

 

Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Meade E Palmer, III & Megan E Palmer (383 H Strange Road, Lecompte, LA 71346) - 1 acre in Sec 2, T1NR1W (383 H Strange Road, Lecompte, LA 71346), $166,300.00

 

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

 

Federal National Mtg. Assoc. (904) to Christopher J Aultman (3510 N Causeway Blvd., Suite 600, Metairie, LA 70002) - Lot 91, Legacy Pointe Subd., Phase IV (3013 Legacy Loop, Pineville, LA), $187,507.00 / 5,690,316 = 3.3%

 

Servicers completed 10,438 short sales through the government's Home Affordable Foreclosure Alternatives program since it launched in April 2010, according to the Treasury Department. Head lines in one of my electronic news letters this is simply not an impressive number compared to 1,000,000 foreclosed properties last year this is an annualized number of 40,000.

 

Lender to Guarantor (it’s yours now) 6 transfers from lender to government back guarantor total volume of $738,449. Tell the story about veteran 24 months behind and no chance of deficiency judgment.

 

U S Bank to Dept. of HUD - Lot 17, Blk 9, Airview Terrace, $127,623.77

 

U S Bank to Dept. of HUD - Part of Lot 1, Sq 53, Clarence Park Addn., $66,860.79

 

Standard Mtg. Corp. to Dept. of HUD - Lot 7, Sq 13, Hill Addn. (2056 Hill St., Alex., LA 71301), $128,337.17

 

Nationstar Mtg., LLC to Federal National Mtg. Assoc. - 1.562 acres in Sec 22, T5NR1W (808 Ates Road, Pineville, LA 71360), $236,835.00

 

U S Bank to Dept. of HUD - Lots 10-12, Blk 6, Shady Hills Subd., $83,657.20

 

Regions Bank to Federal National Mtg. Assoc. - Tract in Sec 25, T2NR4W (396 Harper road, Hineston, LA 71438), $95,137.99

 

Interest Rates: 30 year fixed is 4.33% was 4.42% the 15 year rate is 3.50% was 3.55% this is down from last week.. 5/1 ARM is 2.91% was below 2.91%.

 

 

B.R., Lafayette named to Top 100 places to live list

Baton Rougeand Lafayette have both been named to RelocateAmerica's "Top 100 Places to Live in 2011." They were the only two Louisiana cities to make the 14th annual list, which is based on a number of factors, including housing, economic health, safety and input from community leaders. The list ranked the top 10 cities to live, but didn't categorize places outside the top of the chart. Austin, Texas, was named as the best place to live, and Grand Rapids, Mich., was second. RelocateAmerica is a directory of more than 6,000 communities with links to services to help people with relocating

 

S&P downgrades Fannie and Freddie, U.S.-backed debt

Standard & Poor's Ratings Services today downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt. The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options. All the downgrades were from AAA to AA+. S&P says the agencies and banks all have debt that is exposed to economic volatility and a further downgrade of long-term U.S. debt. Their creditworthiness hinges on the U.S. government's ability to pay its own creditors. Today's downgrades of the mortgage giants Fannie and Freddie reflected their "direct reliance" on the U.S. government, S&P said. Fannie and Freddie own or guarantee about half of all U.S. mortgages, or nearly 31 million home loans whose total worth exceeds $5 trillion. As part of a nationalized system, they account for nearly all new mortgage loans. Their downgrade might force anyone looking to buy a home to pay higher mortgage rates. Officials at Standard & Poor's say they will also indicate shortly how local and state governments will be affected by their decision on Friday to lower the long-term U.S. debt from AAA to AA+.

 

Bluebonnet shopping center sold for $1.65 million

A shopping center on Bluebonnet Boulevard, near Burbank Drive, has been sold for $1.65 million. The Vo Family Trust of Kenner purchased the Bluebonnet Plaza Shopping Center, according to records filed with the East Baton Rouge Parish Clerk of Court's office. Bluebonnet Plaza, which sits just north of an Albertsons store, is an 11,200-square-foot center that has several tenants, including Wingstop, a nail salon, a dry cleaners and a Chinese restaurant. Price per square foot was $147 psf

 

First-timeLa.jobless claims down

First-time claims for jobless benefits fell 6.5% in Louisiana. The Louisiana Workforce Commission says 3,857 newly unemployed people made initial claims during the week ending Saturday. That's down from 4,123 for the week ending July 23. For the comparable week ending July 31, 2010, the state recorded 4,109 initial claims. The four-week moving average of initial claims decreased to 4,108 from the previous week's average of 4,186. Those still looking for work filed for an additional 48,216 weeks of benefits for the week ending Saturday. That's down from 48,948 for the week ending July 23. For the comparable week a year ago, there were filings for an additional 58,952 weeks.

 

 

 

Rod's Notes For Wednesday 08/03/11


Wednesday 08/03/11 Show

 

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.

 

 

Featured property of the week:

51 possible closed Post Office buildings in La. Explain to audience that some are landlord owned “dark with gravy” (meaning closed but tenant is paying rent) and some are owned by Post Office.

 

 

People not properties:

 

Willie Harp winner of where is the third Star Bucks location in Marriott Court yard. (which by the way is 100% occupied Monday through Thursday)

 

Lee Odom is now general manager of Diamond Grill (great guy with tons of experience)

 

Jeff Matthews reporter with Town Talk very positive column announcing 66,500 non farm jobs for our area up from same time last year 63,600 making us the leader in the state for that time period.

 

Bruce Williamson new CEO at CLECO , welcome to Central La.

 

Former Governor Edwin Edwards speaks to downtown Rotary club next week reminder to members that meeting will start at 11:30 am.

 

Warren Buffett good idea for cure to United States embarrassing deficit which is as follows, if debt exceeds certain percentage of GNP then none of the Congress or Senate can run for re-election when term expires.

                                                        

Every Deal has a tale / tail.

 

Michael R & Sue R Haynes (P O Box 7602, Alex., LA 71306) to Templin Real Estate Holdings, LLC (159 Kincaid Lane, Boyce, LA 71409) - 1.29 acres in Sec 16 & 17, T4NR1W (2022 N MacArthur Dr., Alex., LA 71303), $177,500.00

 

Bobby R Walker (63 Rocoso Dr., Hot Springs Village, AR 71909) to William K Voorhies, Sr. & Cathy M Voorhies (P O Box 1661, Alex., LA 71309) - Part of Lots 1 & 12, Sq 50, Clarence Park Addn. (704 18th St., Alex., LA 71301), $22,000.00. Cheap property poor condition but in good location.

 

National fast food purchased $550,000 property on highway 28 East for approximately $12.50 psf. This was part of Garden District shopping center that was owned by Matt Ritchie broker in Baton Rouge office of Latter & Blum Randy Boughton represented the buyer. Ritchie Properties, LLC (1268 Dorchester Dr., Alex., LA 71303) to JEC Real Estate Investments, LLC (3003 Old Forge Dr. Suite B, Baton Rouge, LA 70808) - Lot 1, Ritchie Center, $555,443. “Why would national fast food chain want this side of the street.

 

Bon Swirl frozen yogurt Jackson Street Extension and Bayou Court no announced opening date. Ragan Cupples and his wife are owners.

 

28 East metal building on left side traveling east is a tire store but who is the owner

 

Metal building service road at former South Circle is industrial tenant expanding their business Larry Bordelon is the landlord.

 

Former Holiday Inn South MacArthur  drive had a serious fire last week. Back ground on this property 2nd or 3rd Holiday Inn within the system George Younger was personal friend with Kemmons Wilson founder of Holiday Inn. The design was call U2 you can locate these former Holiday Inn with aerial photo. Kemmons Wislon still owns an abandon gravel pit in Woodworth area. Share with listeners two tracts of land George Younger purchased.  

 

Legacy Hieghts 64 unit multiple million dollars apartment complex off England Drive just off MacArthur drive, go take a look it is super fine housing for LMI (low and moderate income tenants 100% vacant. Funds are frozen by Feds to pay vendors and construction companies the development was unveiled to the community in April and now it is August.

 

EnglandAir Parkpurchases

Earl L Cherry (240 Effie Hwy., Deville, LA 71326) to The England Economic and Industrial Development District - 12.58 acres in Sec 19, T4NR2W, $220,000.00

 

In the world of competitive communities for economic growth England Air Park gives our community a competitive edge but success does not come over night. Over the years I’ve had my sword fights with Jon Grafton over taking tenants from private sector but the good far out weights the unjust competition with private sector. Long term planning, funding, upgrades, and expansion will pay off big time one day in the future. Jon and his board although they are not perfect are doing a great job for economic future of Central La.

 

Construction Contracts

Capital One to Skip Converse, Inc. (318 Jones St., Pineville, LA 71360) - Pineville branch interior renovation, $333,300.00

 

Absorption report for July

            Total market 9.75 with 790 homes in MLS 81 sold but 163 new one on the market

            $400,001 and up 42 on market 2 sold 21 months supply 1 new one on the market

            $250,000 to $400,000 87 on market 4 sold 21.75 months supply 8 new one on the market

            $150,001 to $250,000 on the market 212 and 33 sold 6.42 months supply 51 new ones on the market

            Below $150,000 on the market 449 and 42 sold 10.69 months supply

 

(2.5) 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 5 this week

 

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 market provided volume of $4,403,000 with total of 36 transactions.

 

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

 

Jose A Valle, Jr. & Gwendolyn L Valle (8312 Maunalani Pl, Diamond Head, MS 39525) to Frankie C & Sharon B Foster (48 Nick Mays Road, Pineville, LA 71360) - Lot 102, Whispering Pines Subd. (4715 Whispering Pines Loop, Pineville, LA 71360), $160,000.00. 17 sales from June 16, 2008 until August 1, 2011 with average price of $142,448. The lowest sale was $77,900 and highest sale of $160,000 keeping the standard deviation in tight range of $21,753. The average price sale in 2008 was $147,478 followed in 2009 with average price of

$150,000 or increase of 1.71%, in 2010 and 2011 year to date average price is $139,840 or decrease of 6.77%. Note one foreclosure and sale for $77,900 if you take those out of the sample average price is $149,962. Positive score for what we are tracking.

 

 

Aaron R & Bobette S Kennedy (3705 Amhearst Lane, Frisco, TX 75034) to Karen M Wezner & Thomas A Broadway (13170 Dutchtown Point, Apt. 131, Gonzales, LA 70737) - Lot 48, Fairfield Subd. (5209 Fieldcrest Ave., Alex., LA 71303), $195,000.00. From January 1, 2008 until August 1, 2011 there have been 37 sales with average price of $202,784 standard deviation of $36,090. In 2008 there were 18 sales with lowest at $163,00 and highest at $250,000 with average price of $197,319 and standard deviation f $25,119. In 2009 there were  7 sales with average price of $213,050 or 7.79% increase in value.In 2010 and 2011 through August 1st there were 10 sales with average price of $211,888 there sale we are tracking today is $195,000 and rates a negative score.

 

(-1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us zero, zip, not a one.

 

 

(+1) New Home sales positive score requires only one sale for the week: market gave us 2 sales

 

Brittain & White Construction, LLC (5512 Jackson St., Alex., LA 71303) to Carol H Hebert (508C Ansley Blvd., Alex., LA 71303) - Unit 508C, Cypress Point at Lake District Condominiums, $159,500.00

 

Thomas Bolton Properties & Construction, LLC (4821 Porter Circle, Alex., LA 71303) to Charles Sampson (5902 West Austin Dr., Alex., LA 71303) - Lot 219, Bocage Subd., Phase V (5902 West Austin Dr., Alex., LA 71303), $220,000.00

 

Slightly above record low: Builders began work on more office buildings, shopping centers and hotels in June, pushing U.S. construction spending higher for a third straight month. But even with the gains, activity remains at depressed levels. The Commerce Department says construction spending rose 0.2% in June to a seasonally adjusted annual rate of $772.3 billion. That put overall spending 1.2% higher than the 11-year low hit in March. It is just half of the $1.5 trillion pace considered healthy by most economists. In June, residential construction declined, reflecting a big drop in apartment construction, and spending on government building projects also fell. But private nonresidential activity rose to the highest level since late 2010.

 

(+1) Lender total Salesrates positive score if lender sales are below 5% of total sales. This week there was one sale for $48,000 / $4,400,000 = 1.09%

 

The Union Bank (305 North Main St., Marksville, LA) to D & J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) - Lots 7 & 8, Rue Donahue Subd., $48,000.00

 

Interest Rates: 30 year fixed is 4.42% was 4.53% the 15 year rate is 3.55% was 3.65% this is down from last week.. 5/1 ARM is 2.91% was below 3.02%.

 

 

 

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