Rod's Notes Archives for 2011-10

Rod's Notes For Wednesday 10/26/11


Wednesday 10/26/11

 

You can participate in the show by calling 318-442-8255 (talk) between 8:05 and 8:55 on Wednesday morning.  Do not attempt to call Saturday this is our encore performance (fancy way to say taped).

 

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 each week.  

 

Attachments, Announcements, and Travels:

 

Thanks to Marsha McGraw for handling the show while I was in Phoenix one week and at rare Wednesday Real estate commission the other week.

 

Thursday two important events in 28 West areas:

(1) 9:00 am dedication of Jim Meyer terminal (historic and appropriate)

(2) Grand Opening of Walker BMW and Mercedes-Benz from 5 to 7 pm.

 

Last week the Grand Opening of D’Argent’s properties office which is formerly the Cotton Gin restaurant

 

Old news but positive enough it should be repeated. Home Builders publication recognized Alexandria as one of top 12 recovering new home markets.

 

November 7th New Orleans CCIM 101 course (see discount flyer) two great instructors incoming 2014 international president Karl Landreneau and 2011 “Peoples Choice” Rod Noles. 

 

Two subdivision studies attached one for Martin Park and another for College Park

 

Realtor announcements:

 

October 29th this Saturday Cook-Off proceeds benefit Habitat for Humanity contact Rhonda @ 445-2500 or Sonya 473-8324

 

October 31st “Blood Drive” on Halloween Donor Bus and Vampires in Mac’s parking lot

 

November 1st Real Estate and Economic Forum 1 to 5 pm.

 

People not properties:

 

Winston Roberts local Realtor and long time friend was elected to the Police Jury in Grant Parish.

 

John Maginnis will be calling in this morning to discuss elections and interesting run offs.

 

Aubrey Mansour (Mary Jo Mansour’s grandson worked for her as an assistant some time back) invited me to his wedding in New Orleans and boy am I glad we made the effort to attend.

 

Brent McCormick writing “Neighborhood Profile on Charles Park” and

 

Every Deal has a tale / tail.

 

A Few Dozen Enterprises, LLC (5778 Hwy. 544, Simsboro, LA 71275) to One Life Church, Inc. (P O Box 14507, Alex., LA) - 2.851 acres in Sec 76 & 77, T4NR2W, $1,500,000.00. Gary McKay at Noles-Frye listing agent and Lynette Giallonardo with Matt Ritchie was selling agents. Reminder Lynette is first female CCIM from this area and this is her second $1,000,000 transaction this year. Gary McKay stayed with conversion of Power Sports center into a church with option to purchase and when that deal did not work after 3 years he co-brokered deal with Lynette.

 

Closing for Business

 

Stine Lumber showroom next to Fads and Frames is closing. Please do not want you to hear me saying that Stine Lumber is closing.

 

TCBY on Jackson street closing, I feared with two new yogurt places opening up may not be enough business to spread around. Good economic indicator to see how long it takes to lease this prime space.

 

Mentioned last week when I phoned in from Baton Rouge that Kohls department store is not coming to our market, at this time.

 

Burger King under construction on Highway 28 East at Garden District shopping center. 

 

Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Rapides Fair Association, Inc. (300 Grady Britt Dr., Alex., LA 71302) - 12.9 acres in Sec 52, T2NR1E (8197 Hwy. 71 South, Alex., LA 71346), $450,000.00. Described in deed as 400 feet on highway 71 with depth of 1,717 feet not sure exactly where this is but I think it is near LSUA. Fair Board also owns 200 plus acres near Cowboy Town wonder if they would sell it back to us at the same price since they might not need it?

 

Tuck Bolton is taking title to 14 to 15 brick units in lower third area not sure if they closed the deal but he said I could mention. When smart, ambitious, young investors are activity in the market place makes me think we are not at the bottom of market cycle.

 

Gap announces plans to “slash its store count” plan to close 20% of existing stores in next 2 years. Gap owns and operates Old Navy and Banana Republic has 889 stores nationwide and plans to whittle that down to 700 within next 24 months. Announced they will let existing leases expire rather than terminate them. Old Navy just renewed Old Navy lease hear and spent $1,000,000 in tenant improvements you would think this store will remain open.

 

Immigration solution, if you need residence visas for foreigners buy a $500,000 house and you are in. Bill is pending and not law but is part of larger package by Senator Charles Schumer and Mike Lee to spur more foreign investments in America. Chinese and Canadian buyers are among other are taking advantage decline in prices but also favorable exchange rates. Very big part of the market in California, Florida, Arizona and we have seen larger share of our home sales to the immigration community.

 

(1.5) Rod’s economic indicator perfect score is 5. When top rating of 5 appears week after week I will share with our audience, that “Green Shots” is here and recovery is in full swing. Only the measurement of lot sale ranked positive score and random sales one scored positive the other negative.

Legal recorder data for five business day October 17th through 21st

 

(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 sales looking for 40 closed deals from previous week market provided volume of $2,642,370 with only 26 sales. Next week’s report should be much better considering it is the end of the month where buyers push the loan closing for appearance of saving daily interest.

 

                 Question how is the market my answer is “It depends”

 

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

 

Chris W Jackson (333 Edgewood Dr., Apt. A, Pineville, LA 71360) to Johnathan L Hammond (1708 Sunburst Lane, Pineville, LA 71360) - Lot 1, Blk 2, College Park Addn., et al (815 Lakeshore Dr., Pineville, LA 71360), $149,000.00. Much better than average of few sales in last 46 months for positive score.

 

Remona D Williams (112 Sheperd Dr., Pineville, LA 71360) to Roqueland & Mia Sylvia (3828 Spencer St., Alex., LA 71302) - Lot 14, Blk O Martin Park Subd. (3828 Spencer St., Alex., LA 71302), $120,000.00. Average price for this year $132,787 and last year average of $145,380 so sale we are tracking rates a negative score.

 

National home sales slipped in September as consumers were hit by economic uncertainty, high unemployment, and tight lending. August to September saw 3% drop to seasonally adjusted 4.91 million at peak in 2006 we witness 6.5 million. Do not hear much about sales being up 11.3% compared to same time period last year. Rare when you see sales volume up and median price down for same time period comparison but it happen in September volume up 11.3% and median price down 3.5% to $165,400.Nationally we have 8.5 months supply of housing inventory compared to our September MLS of 7.89 round to 8

 

(-1) New Home sales: Looking for a single sale this week for positive score the market gave us zero

 

(+1) Lot Sales or home site acreage: Only need one sale for positive score and this week the market gave us 8 sales

 

Derek L & Emily E Weatherford (2191 Hwy. 121, Hineston, LA 71438) to James L & Pamela S Weatherford (1022 East Village Court, Pasadena, TX 77506) - 1.47 acres in Sec 18, T1NR3W, et al, $13,920.00

 

Latanier Tree Farm, LLC (113 Hwy. 457, Lecompte, LA 71346) to Javier & Jamie R Molinary (97 Cain Road, Lecompte, LA 71346) - 2.05 acres in Sec 10, T2NR1E, $16,000.00

 

Shane J & Karen D Ducote (269 Links Dr., Alex., LA 71303) to Enrico & Vicki Cannella (229 Links Dr., Alex., LA 71303) - Lot 43, St. Andrews Links Estates, Phase Two (229 Links Dr., Alex., LA 71303), $40,000.00

 

Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Tracy Nguyen (6009 West Alexandra Dr., Alex., LA 71303) - Lot 206, Tennyson Oaks Subd., Phase 7C, $60,000.00

 

CitiFinancial, Inc. to Mark T & Tracie M Parker (511 Heyman Lane, Alex., LA 71303) - Part of Lot 29, Ashton Acres, Phase 1, $43,000.00

 

Ricky D & Dana M Elliott (P O Box 434, Forest Hill, LA 71430) to Meliton G & Mariana N Cazares (P O Box 55, Forest Hill, LA 71430) - 4.18 acres in Sec 10, T1SR2W, $30,000.00

 

Frankie C & Sharon B Foster (4715 Whispering Pines Loop, Pineville, LA 71360) to Theresa M Brossett (P O Box 4052, Pineville, LA 71361) - 3.404 acres in Sec 4, T4NR2E, $38,000.00

 

(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales, two sales this week total volume of  $493,000 / $2,642,370 = 19%

 

CitiFinancial, Inc. to Mark T & Tracie M Parker (511 Heyman Lane, Alex., LA 71303) - Part of Lot 29, Ashton Acres, Phase 1, $43,000.00

 

Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to Rapides Fair Association, Inc. (300 Grady Britt Dr., Alex., LA 71302) - 12.9 acres in Sec 52, T2NR1E (8197 Hwy. 71 South, Alex., LA 71346), $450,000.00. Described in deed as 400 feet on highway 71 with depth of 1,717 feet not sure exactly where this is but I think it is near LSUA

 

Interest Rates: 30 year fixed is 4.20% was 4.19% the 15 year rate is 3.47% was 3.46%. 5/1 ARM is 3.02% was 3.04%.

 

Home Lending Plan : I liked what Phd. Ted Jones recommended in testimony before congress make every Freddie and Fannie loan re-cast at 5% with same term. President’s plan does not actually pick winners and losers but it does favor parts of the country that experienced hyper inflation in home prices and relaxed underwriting like Nevada, California, Florida, and Nevada. Program will allow refinancing if borrower is current on last six months, reduced appraisal requirements and underwriting fees. Negative loan to value so long as loan is not more than 125% of current value.

 

 

 

Rod's Notes For Wednesday 10/05/11


You can participate in the show by calling 318-442-8255 (talk) between 8:05 and 8:55 on Wednesday morning.  Do not attempt to call Saturday this is our encore performance (fancy way to say taped).

 

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 each week.  

 

Attachments, Announcements, and Travels:

 

Affiliate Fish Fry for board of Realtors Thursday October 13th from 6-8 at Harold Miles Park.

 

October board of Realtors member luncheon this Thursday October 6th at Piccadilly 11:00 am.

 

Chandler Park sales study

 

Retreat West sales study

 

Ashton Plantation Auction this Saturday and Sunday 9 am located at 165 Chickmaw Road, Lecompte, La.

 

Money Ball maybe the only movie I seen twice at the theater. I’ve watched Top Gun several times on television or video.

 

McDonalds at Lee Street and MacArthur celebrate renovation re-opening. Boy did they complete that rehab with great alacrity.  

 

People not properties:

 

Bob Blotner former owner of Blotner Brothers Auto Parts passed away last night.

 

(6041 Stonegate, Alex., LA 71303) to Bruce A & Dona K Williamson  New CEO @ Cleco.

 

Tom Benson owner of the New Orleans Saints does anyone know if within his automobile dealership organization does he have Mercedes Benz franchise?

 

Marsha McGraw thank you for hosting the show next Wednesday, I will be attending La. Real Estate Commission meeting that Wednesday. Meetings are generally on Thursday so this will not be a once per month miss for me.

 

Andy Rooney is retiring and I missed his final show Sunday, darn to both just darn.

 

Every Deal has a tale / tail.

 

Lee Rubin has sold his laundry business to two partners who currently own two other cleaners. FTC may not approve because this could eliminate all competition with this laundry monopoly.

 

Last month failed to mention think it was in my notes but Fred Lampert sold his business Appliance parts.   

 

Land clearing on Main Street as you approach the rail road over pass just prior to entrance of Louisiana College is a new Dollar General. The land was assembled by Paul Stich included three parcels one of which was owned by Ratcliff organization.

 

700 to 1,000 acres at Central Hospital in the city of Pineville would be a developers dream if the facility is closed. It will be fun to watch progressive administration in Pineville support planning and re-development of this wonderful piece of real estate.

 

New Round about open this week in Leesville, the one at England looks and works great. Curious when one at Jackson & Horseshoe will begin development.

 

Templin Forestry has relocated their office at 20 North MacArthur Drive formerly Mike Haynes real estate office. We announce sale on this show early September.

 

Front Page of WSJ weekend edition headlines reads: House if gone but debt lives on: (1) share with listeners contingent liability beyond lender’s recovery (2) parts of story was news did not know lenders do not always pursue only 41 states allow lender to go after borrower after foreclosure (3) Strategic defaulter” is prime “let’s pursue story so is second home debts short fall. (4) packages of contingency packages are being sold bundling the rights for investors to pursue claims instead of lenders.  

 

Emails from listeners:

 

Rod,

 

            I think I found your next career -- Food Critic Extraordinaire.

 

Every Deal has a Tale:

I had the pleasure of eating at Janohn’s Restaurant in Boyce where I meet the manager – a young lady named Bridge (Gilchrist) Soileau – who said you know her. The food was fantastic (easily on par with the Bistro & Diamond Grill). Bridget 318-623-6630 or 318-793-5080

 

D'ARGENT PROPERTIES, LLC

Real Estate Development & Investment

 

 

Rod’s economic indicator perfect score is 5. When top rating of 5 appears week after week I will share with our audience, that “Green Shots” is here and recovery is in full swing. Still flying just over the trees of tough recession have changed my wording from, “there is no national weather report that tells you if it is raining in your back yard” to “There is no international weather report that tells you if it is raining in your back yard.”

 

Legal recorder data for five business day September 26th though September 30th 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 sales looking for 40 closed deals from previous week market provided volume of $6,345,899 with total of 49 sales. Nothing short of a great week and no sale bigger than $448,000.

 

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

 

Alayne M Bonnette, et al (541 Hwy. 453, Marksville, LA 71351) to John B & Patrice A Laws (5732 Mildred Ave., Alex., LA 71301) - Lot 111, Chandler park (5732 Mildred Ave., Alex., LA 71301), $160,000.00 In 2008 there were three sales at average price of $130,333 in 2009 there were four sales at an average of $152,475 showing percentage increase of 16.398%, in 2010 there were five sales with average price of $138,500 demonstrating 9.16% decline from previous year two sales in 2011 average $156,500. Sale I am tracking is $160,000 better than average for past three years and ahead of 2011 average.

 

Melinda L Casey (2204 Lee St., Alex., LA 71301) to Erik M Cain (1012 Retreat West, Pineville, LA 71360) - Lot 13, Retreat West (1012 Retreat West, Pineville, LA 71360), $123,500.00. 2008 there were 6 sales average price was $110,000. In 2009 there were only 2 sales average price was $125,000 or increase in value from previous year of 13.63%. In 2010 and year to date in 2011 there were 3 sales and average price of $118,000 demonstrating 5.60% decline from 2009. Sale we are tracking this week is $123,500 better than average of last three sales but below 2009 average for negative rating.

 

 

(+1) New Home sales: Looking for a single sale this week for positive score the market gave us two new home sales.

 

Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to David W & Jennifer L Perkins (P O Box 474 ,Oakdale, LA 71463) - 1 acre in Sec 2, T1NR1W (385 H Strange Road, Lecompte, LA 71346), $143,000.00

 

Floyd C Hebert, Inc. (4033 Waterford Dr., Alex., LA 71303) to Brent D Aymond (163 Woodwind Dr., Pineville, LA 71360) - Lot 88, Woodlake Subd., Phase V-B, $245,000.00

 

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

 

F & J Investments, LLC (1535 Jackson St., Alex., LA 71301) to Jeffrey W & Aphra M Bolyer (123 N Bend Dr., Pineville, LA 71360) - Lot 25, Hidden Path Subd., Phase II (TBD Hidden Pines, Pineville, LA 71360), $58,000.00

 

Cecil B Thibodeaux (8678 Hwy. 71 S, Lecompte, LA 71346) to Casey L Bennett, et al (60 H Strange Road, Lecompte, LA 71346) - 17.09 acres in Sec 39 & 40, T2NR1E, et al, $14,000.00

 

Marion J Johnson, Jr. (191 Joanne Dr., Dry Prong, LA 71423) to Philip C & Mary G Beaubouef (98 Monroe Woodson Road, Deville, LA 71328) - 2.5 acres in Sec 14, T4NR3E (122 Monroe Woodson Road, Deville, LA 71328), $20,000.00

 

 

(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales, two sales this week total volume of  $476,299 / $6,345,899 = 7.5%

 

Federal Home Loan Mtg. Corp. to Keian K Jammaleddin & Nafiz A Musleh (6424 Tennyson Oaks Lane, Alex., LA 71301) - Lot 31, Tennyson Oaks Subd., $325,000.00

 

Dept. of HUD to Earl Waltman (P O Box 529, Alex., LA 71309) - Lot 10, Camellia Heights Subd., $71,300.00

 

LPP Mtg., Ltd. (6000 Legacy Dr., Plano, TX 75024) to KPRO Enterprises, LLC (5411 Coliseum Blvd., Alex., LA 71303) - Lot 52, Pinebrook Estates Subd. (6716 Longleaf Trace, Ball, LA 71405), $79,999.00

 

Interest Rates: 30 year fixed is 4.00% was 4.05% the 15 year rate is 3.35% was 3.33% . 5/1 ARM is 3.00% was 2.99%.

 

New Report shows total mortgage amount for the week volume, number of mortgages, and ratio to sales:

 

Last week there we 69 closed mortgage transactions and 49 sales with total volume of $9,888,491 closed mortgage amount / sales volume of $6,345,899 = 156%

 

Fewer banks every year: When I was 35 years old was asked to join Security Bank board at that time there were over 12,000 banks today there are 7,513 much fewer banks and the trend will continue. Between closures 157 in 2010 and 865 on troubled watch list and mergers we can expect fewer banks in the future.

 

LLC who are you?

 

F & J Investments, LLC Jimmy Faircloth (1535 Jackson St., Alex., LA 71301) to Jeffrey W & Aphra M Bolyer (123 N Bend Dr., Pineville, LA 71360) - Lot 25, Hidden Path Subd., Phase II (TBD Hidden Pines, Pineville, LA 71360), $58,000.00

 

The Linc Group, LLC Jason Huffman & Kevin Gill (P O Box 4769, Pineville, LA 71360) to Michael E & Ryan Lynn Burleigh (3006 Wesley Circle, Woodworth, LA 71485) - Lot 140, Country Club Place Subd. (3006 Wesley Circle, Woodworth, LA 71485), $260,000.00

 

Marson Properties, LLC Mary Abbott Sonnier (1749 Watson Road, Pineville, LA 71360) to Julie A Ourso (1004-A Nye Dr., Alex., LA 71303) - Tract in Sec 35, T5NR1W (407 Lafayette Dr., Pineville, LA 71360), $75,000.00

 

F & L Holdings, LLC Fred Hamel (102 Royal St., West Monroe, LA 71291) to RCW, LLC (5014 Plantation Road, Alex., LA 71303) - 1.12 acres in Sec 8, T4NR1E, $30,000.00

 

 

 

 

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