Rod's Notes Archives for 2011-11

Rod's Notes For Wednesday 11/23/11


Rod's Notes For Wednesday 11/23/11

 

Happy Thanksgiving to all folks I work with at Cenla Broadcasting and our listeners. Hopefully some point in future the family that comes to visit at Thanksgiving and other holidays will live and work in the center of our universe.

 

Go to:  www.rodnolespropertymanagement.com and click on radio notes and sign up to have them emailed each week. If you know of someone looking for rental space, apartments, homes, retail, office or industrial send them to www.rodnolespropertymanagement.

 

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

 

Biggest Announcement Sun Drop Fuels

 

Land owners :            Ballina Farms Inc.

Acreage involved:     1,213 acres

Location :                   Surrounds Cowboy Town, just North of Visiting Center

Real Estate agent:    Rod Noles with NAI Latter & Blum

Buyer:                         Sundrop Fuels from Longmonth Co.

CEO :                         Dr. Wayne Simmons

Product:                      50 million gallons annually of world’s first “green Gasoline”

Plant Cost:                 $450 to $500 million for first phase

Equity:                        $200 million from Chesapeake Energy and two worl premier venture capital firms Oak Investment Partners and Kleiner Perkins

Direct Jobs:               150

Indirect Jobs:             850 plus

Average Salary:        $58,000 with benefits

 

Just like the crossing railroads “Marked the X” for Union Tank Car a deal where Robert Wolfe handled the sale, the multiple pipelines made this site attractive. There were two pipelines that the company needed (1) Natural gas for production and (2) gasoline pipe line for shipping product.  Sun Drop also needed bio mass stock from harvesting timber, interstate access, and good water supply.

 

New proven technology and it will be produced here in Central La. first and transported though our pipelines across America. The company uses a gasification process to convert cellulosic feedstock into sythesis gas, which will then be made into clean, affordable biobased “green gasoline”. Combination of natural gas, and green feedstock, with proprietary process Sun Drop Fuels has designed and tested. Tow major joint venture funds and Chesapeake belief it can be done, so I am buying in.

 

A real estate deal is never done until deed transfers and I am a strong believer in old saying, “Time Wounds all deals” It was fun to introduce Roy Martin to Dr. Wayne Simmons and listen to these gentlemen talk about fuel stock availability, alternative fuels, the various process to make gasoline out of natural gas and forest. Roy told Dr. Simmons he was in the epicenter of available timber food stock. Roy Martin will forget more about timber than I will ever learn. He impressed me with keeping up with Dr. Simmons.

 

Second biggest announcement  Because bad weather delayed Governor Jindal’s press conference he did not have time to attend announcement on this second big deal. GG Shinn is retiring and has sold his night club. GG”s is not closing will share more as the ‘ink dries”

 

Attachments, Announcements, and Travels:

 

Duck Hunt last Friday and Saturday good story from the guide regard my comment, “anything worth doing well is worth doing poorly at first”

 

Thursday morning in Baton Rouge for La. Real Estate Commission meeting.

 

Woodlands Subd. study

 

Mykoff Absorption study

 

8.94 months inventory on the shelf 787 homes for sale in Mls and 88 sold units

34 months supply above $400,00 total on market 34 with 1 sold

28 months supply $250,000 to $400,000 total on the market of 84 with 3 sold

7.57 months supply for $150,000 to $250,000 total on the market of 212 and 28 sold

8.18 months supply for under $150,000 total on market of 457 and 56 sold

 

People not properties:

 

Brenner Sadler and Ricky Sooter were seller’s attorney for Sun Drop Fuels contract. Both are good friends but their energy, intellect, and persistence continues to impress me.

 

Rick Ranson and Benny Russo did all the heavy lifting over several months for Sun Drop Fuels deal

 

Debbie Trent passed away last week attended her wake in Abbeville saw old friends from around the country.

 

 

Construction Contracts

 

England still buying

 

Gregory K & Wanda D Hillman (76 Chrstine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - W/2 of Lot B, Bayou Grosse Park Subd. Ext. # 2, $446,000.00

 

Earl L Cherry (240 Effie Hwy. (Hwy. 115), Deville, LA 71326) to The England Economic and Industrial Development District - 12.467 acres in Sec 18 & 19, T4NR2W, $90,338.00

 

England Authority sponsored bonds for Sun Drop Fuels thanks board and Jon Grafton

 

Meyer, Meyer, Hixson and LaCroix 16,000 square foot office is one of the most professional environments I have witness anywhere. The tenant improvements which was paid 100% by tenants was simply outstanding. Directly across from Million Air FBO.  

 

Every Deal has a tale / tail.

 

Charlotte J Snyder, et al (4800 Whitefield Blvd., Alex., LA 71303) to Alice J Tejedor (1250 Dorchester Dr., Unit 103, Alex., LA 71303) - Unit 103, The Williamsburg Condominiums (1250 Dorchester Dr., Unit 103, Alex., LA 71301), $60,000.00

 

 

(+3) 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 days November 7th through November 14th reminder that 18th was a holiday

 

(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 $4,548,144 on 42 sales highest transaction was Georges Lane home at $563,000.

 

 

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

 

Joseph W Bailey, Jr. & Martha M Bailey (4051 Bayou Rapides Road, Apt. # 115, Alex., LA 71303) to Darrell S & Jennifer L Drewett (164 Wilderness Dr., Boyce, LA 71409) - Lot 102, Woodlands, Phase IV, $195,000.00. Average price for home in Woodlands since 2-12-2008 is $280,000 only 13 sales no lender foreclosures and price range is from $100,000 to $975,000.Sale we are tracking this week is $195,000 lower than the average hence a negative.

 

Campbell Appraisals, Inc. (1038 Amber Lane, Pineville, LA 71360) to Robert G & Karen A Bordes (352 Flowers Road, Pineville, LA 71360) - Lot A-1, a subdivision of Lot 50, Flaggon Hills Subd., et al, $116,500.00. Only two sales in three years this sale was lower than the other sale hence a negative.

 

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

 

Homesales, Inc. (1400 East Newport Center Dr., Deerfield Beach, FL 33442) to Joel A Miller (116 Davenport Road, Pineville, LA 71360) - Lot 19, River Oaks Estates (116 Davenport Road, Pineville, LA 71360), $189,000.00

 

V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Cui L Zheng, et al (199 West Bronson Dr., Alex., LA 71303) - Lot 328, West Pointe on the Bayou Subd., Phase XII (199 West Bronson Dr., Alex., LA 71303), $262,000.00

 

Question for listeners how are the sales going for homes under construction at the Alexandria Golf and Country Club.

 

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

 

NKM Properties, LLC (2189 Memorial Dr., Alex., LA 71301) to Jimmy D & Stacey L Patin (105 Winthrop Place, Pineville, LA 71360) - Lot 1, Winthrop Place Subd., $35,000.00

 

 O D & Latriece P Gray (398 Stilley Road, Pineville, LA 71360) to David T & Selina L Gray (400 Stilley Road, Pineville, LA 71360) - 9.71 acres in Sec 9, T4NR1E, $20,000.00

 

Camille D Lacy, et al (1112 South Hampton, Alex., LA 71303) to Rogelio C & Maria A Patino (7 Birdie Carter Raod, Forest Hill, LA 71430) - 9.89 acres in Sec 12 ,T1NR2W, $79,500.00

 

D & J Development of Louisiana & Arkansas, LLC (P O Box 1719, Tioga, LA 71477) to E C Smith Properties, LLC (1115 Lake Dr., Woodworth, LA 71485) - Lot 1, Riverview Acres Subd., $65,000.00

 

JTR of Louisiana, Inc. (P O Box 12275, Alex., LA 71315) to Rodney B Kinder (400 Tealwood Dr., Alex., LA) - Lot 153, Fairfield Subd., Phase IV (5235 Rue Maria), $40,000.00

 

(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave us three sales with total volume of $273,500 / $4,548,144 = 6.01%

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Lester P Mallette (2549 Monroe Hwy., Pineville, LA 71360) - Lot 6, Bar-Thel Subd. (1423 Barthel Dr., Pineville, LA 71360), $15,500.00

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to D&J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) - Lot 8 & Tract B & C of Belle Chase Subd., $85,000.00

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Alexandria Lodging Partners, LLC (5650 Frontage Road, Monroe, LA 71202) - Part of Lots 53 & 54, Experiment Plantation (2324 N MacArthur Dr., Alex., LA 71303), $173,000.00

 

Interest Rates: 30 year fixed is 4.01% was 4.4% the 15 year rate is 3.37% was 3.40%. 5/1 ARM is 2.98% was 2.96%. Refinance now it just cannot stay this low for long, it just can’t

 

 

LLC who are you.

.

Sterling C Bain, Jr. & Deborah R Bain (P O Box 250, Bunkie, LA 71322) to SCB, LLC (807 Sterling Bain Road, Bunkie, LA 71322) - 3.89 acres in Sec 1, T1SR3E, $165,000.00

 

Bellares Properties, Inc. (11 Stokes Road, Pineville, LA 71360) to Rantan Properties, LLC (411 Vickie Lane, Alex., LA 71303) - Lots 24 & 26, Blk 17, S A Guy Addn. (2222 North City Park Blvd., Alex., LA 71301), $32,000.00

 

Beach Properties, LLC (132 Evanshell Lane, Alex., LA 71303) to Decker Holdings, LLC (202 Brooks St., Pineville, LA 71360) - Lot 6, Sq 3, Lakeside Addn., et al (203 Wadley Ave., Pineville, LA 71360), $10,000.00

 

Beach Properties, LLC (132 Evanshell Lane, Alex., LA 71303) to Decker Holdings, LLC (202 Brooks St., Pineville, LA 71360) - Lot 16, Sq 2, Lakeside Addn. (108 1/2 Allen St., Pineville, LA 71360), $47,000.00

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Alexandria Lodging Partners, LLC (5650 Frontage Road, Monroe, LA 71202) - Part of Lots 53 & 54, Experiment Plantation (2324 N MacArthur Dr., Alex., LA 71303), $173,000.00

 

Boomer Investment Properties, LLC (1454 Peterman Dr., Alex., LA 71301) to Rantan Properties, LLC (411 Vickie Lane, Alex., LA 71303) - Lots 30 & 31, Kilpatrick Addn. (1001, 1003, 1005, & 1007 Cheney St., Alex., LA 71301), $80,000.00

 

Rod's Notes For Wednesday 11/16/11


Wednesday 11/16/11

 

Go to:  www.rodnolespropertymanagement.com and click on radio notes and sign up to have them emailed each week. If you know of someone looking for rental space, apartments, homes, retail, office or industrial send them to www.rodnolespropertymanagement.

 

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

 

Quote for the week: “The difference between genius and stupidity is that genius has its limits” Albert Einstein

 

Attachments, Announcements, and Travels:

 

CCIM class last week in New Orleans was the best class I have worked in 20 years of professional education. Karl Landreneau 2014 international president for CCIM and Commercial sales manager for Latter & Blum was my co-instructor. We had students from all over the world and three major publicly traded companies were represented with students from companies like GE, Wells Fargo, and First Tennessee Bank. High energy, high intellect, young and ambitious was a pleasure to work with them all week. They came to New Orleans from New Hampshire to Seattle and points between.

 

New Orleans restaurant discoveries (1) Rue 127 corner of North Carrolton and Canal (2) Kate neighborhood section by the museum and (3) Croquette on magazine near Jackson.  (4) Tommy Cuisine  on Touch……

 

Closed Book Store on St. Charles soon to be “Fresh Market” grocery.

 

Mykoff Absorption study

 

8.94 months inventory on the shelf 787 homes for sale in Mls and 88 sold units

34 months supply above $400,00 total on market 34 with 1 sold

28 months supply $250,000 to $400,000 total on the market of 84 with 3 sold

7.57 months supply for $150,000 to $250,000 total on the market of 212 and 28 sold

8.18 months supply for under $150,000 total on market of 457 and 56 sold

 

People not properties:

 

Thanks to Marsha McGraw for hosting the show while I was in New Orleans teaching CCIM class last week.

 

Norman Morris head of legislative issues for La. Realtors Association regard Amendment # 1

 

My CPA firm for 35 years has been Payne, Moore, and Harrington. I just discovered original name was Payne, Moore Accounting, I bet they did not even consider name Moore, Payne accounting firm just like Mr. Frye and I did not consider Frye, Noles.

 

Lost an old friend and former partner with the death of Marc Oray, we once own the former Armour Packing house on lower third together. Marc could do anything and had once told me, “I have ideas that I haven’t even thought of, yet.” I wrote his wife in Abbeville a letter and told her the world would miss this most unusual fellow.

 

Construction Contracts

 

Aiken Developments, LLC (3351 Masonic Dr., Alex., LA 71301) to Ratcliff Construction Co. (1715 England Dr., Alex., LA 71306) - Mid-State Orthopedics and Central LA Rehabilitation Specialists (3446 & 3444 Masonic Dr., Alex., LA), $6,013,976.00.

 

$4,200,000 contract to Ratcliff Constuction Company for La. Army National Guard tactical Unmanned Aerial System Facility at Fort Polk. 6,000 square foot building and were our soldiers can strike our enemy any where in the world from right down the road.

 

Every Deal has a tale / tail.

 

 

Alexandra Business Machines grand opening at 5527 Coliseum Blvd in the former Red River Lures buildings. Kudso to owners Dale Rachal and Steve Miller. Tell the listeners story about Wayne Miller and my first office on Dorchester.

 

Five Guys hamburger opening soon in Petron Building at 3601 North Blvd.

 

Boo Coo’s restaurant now open in Alexandria Mall

 

Olive Garden still a maybe next to Logans saw developer David Friedman from NY in the lobby last night while I was dropping off my client.

 

96 units at Magnolia apartments should be open right after Thanksgiving

 

200 units at Masonic home will begin construction right after fist of the year. The developer did not cut down the big oak tree on the corner that was the highway department, not the developer.

 

Last night 7-0 vote to deny apartment / rent home development at lower third seals the deal no more multi family in lower third area. Not saying that is good or bad thing it’s just a fact. Neighborhood organizations are effective and lower third homeowners association is well organized and make great presentations.

 

1,400 acres make up the grounds at Central the total acreage for city of Pineville is 13,000 acres. With the new bridge and Pineville’s growth this 106 year old facility could be one of the most exciting re-use developments in the south. I am comfortable with Mayor Fields leading the plans to study re-development with city engineer Thomas David.

 

Tuck Bolton purchased land on Heyman Lane next to Charleston Condos. Look for new townhome development fronting the bayou. Not sure how many units but I have good suggestion for a name. “No more election signs townhomes.” Iris B Rayford (2230 South MacArthur Dr., Alex., LA 71301) to Bayou Robert Apts., LLC (4821 Porter Circle, Alex., LA 71303) - 2.04 acres in Sec 84, T4NR1W, $215,000.00

 

Parks Wood Products, Inc., et al (108 Hilton Court, Pineville, LA 71360) to RDK Properties, LLC (1423 Lee St., Alex., LA 71301) - 7.73 acres in Sec 21, T4NR1W, $535,000.00. Paul Stich has been working this deal for over 7 years and deserves an +AAA for staying with the lease this long to make the sale.

 

Couple weeks back listener called and asked what the building under construction south of Woodworth was. Ran into Mayor Butler at Cottage and he told me this was some new apartments.

 

Sudden Link has retail outlet in Alexandria Mall

 

Good activity in St. Andrews this week:

 

John R Morrison (415 1/2 Patterson, New Orleans, LA 70114) to Kandy M Pardue (2254 Myrtle St., Alex., LA 71301) - Part of Lots 7 & 8, Sq 17, Hill Addn., $109,000.00

 

Elbert G & Dorothy T Fuqua (3002 Old Marksville Hwy., Pineville, LA 71360) to Helen L Gibbens (166 Saint Andrews, Alex., LA 71303) - Lot 26, St. Andrews Links Estates, Phase One, $276,000.00

 

Weilland Enterprises, LLC (316 Johnston St., Alex., LA 71301) to Elbert G & Dorothy T Fuqua (3002 Old Marksville Hwy., Pineville, LA 71360) - Lot 122, St. Andrews Estates, Phase III, $33,500.00

 

Two Million dollar home sales in past 90 days

 

David S & Janet C Walker (P O Box 13729, Alex., LA 71315) to Benjamin T & Melanie M Drury (6307 Landmark Dr., Alex., LA 71301) - Part of Lot 46, Landmark Subd., $962,000.00

 

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.

 

Another sale on Horseshoe is rumored but I have not seen it in the legal recorder.

 

If you are loaded with cash and embarrassed by 1% to 2% yields it is great time to buy your dream home.

 

(+2.50) Rod’s economic indicator perfect score is 5. When top rating of 5 appears week after week I will share with our audience, that “Green Shots” is here and recovery is in full swing. Only the measurement of lot sale ranked positive score and random sales one scored positive the other negative.

 

Legal recorder data for five business days November 7th through November 14th reminder that 11th was a holiday

 

(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 $4,216,349 with 26 sales

 

 

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

 

William L Overdyke, Jr. & Laura-Ashley A Overdyke (611 Ontario, Shreveport, LA 71106) to John M & Stephanie W Neal (4036 Huntwick Blvd., Alex., LA 71303) - Lot 20, Huntwick Subd., $237,000.00. Sale I am tracking was slightly under average for 2010 of $240,500 for negative score.

 

2008 average price of $227,414

2009 average price of $233,375 increase of 2.62%

2010 average price of $240,500 increase of 3.05%

2011 average price of $239,000

 

 

Jason D & Marja D Huffman (119 Al St., Pineville, LA 71360) to David F Huffman, Jr. & Rita M Huffman (440 Janet Dr., Pineville, LA 71360) - Part of Lots 34 & 35, Laeno Subd., et al (102 Rubin Dr., Pineville, LA 71360), $210,000.00. Five sales in past three years average price was $110,200 sale I was tracking beat this average for positive score

 

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

 

Johnny Porter Builder, Inc. (42 Philadelphia Road, Pineville, LA 71360) to Wade & Melissa Poole (103 Shadycrest Ave., Deville, LA 71328) - Lot 9, Shady Crest Subd., Phase II, $185,000.00

 

Question for listeners how are the sales going for homes under construction at the Alexandria Golf and Country Club.

 

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

 

Weilland Enterprises, LLC (316 Johnston St., Alex., LA 71301) to Elbert G & Dorothy T Fuqua (3002 Old Marksville Hwy., Pineville, LA 71360) - Lot 122, St. Andrews Estates, Phase III, $33,500.00

 

John T & Brenda S Dean, et al (694 Donaldson Road, Dry Prong, LA 71433) to MCF Cleaning Services, LLC (320 Legacy Dr., Pineville, LA 71360) - 3 acres in Sec 17, T1N2W (1321 Upper Boy Scout Road, Forest Hill, LA 71430), $20,000.00

 

John T & Brenda S Dean, et al (694 Donaldson Road, Dry Prong, LA 71433) to Carrol K Pamela K Vidrine (568 Hwy. 367, Eunice, LA 70535) - 6.314 acres in Sec 17, T1NR2W (Upper Boy Scout Road, Forest Hill, LA 71430), $55,000.00

 

NKM Properties, LLC (2189 Memorial Dr., Alex., LA 71301) to Jimmy D & Stacey L Patin (105 Winthrop Place, Pineville, LA 71360) - Lot 1, Winthrop Place Subd., $35,000.00

 

(-1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave us two sales total volume of $292,000 /  $4,216,349 = 6.92%

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Kristen H Sillavan (140 Pinehill Road, Pineville, LA 71360) - 1 acre in Sec 23 & 28, T5NR1E (140 Pine Hill Road, Pineville, LA 71360), $39,500.00

 

Southern Heritage Bank (5211 Jackson St., Alex., LA 71303) to James R & Bonnie L Hodges (169 Lynell Lane, Pineville, LA 71360) - .337 & 1.193 acre tracts in Sec 15, T5NR1W, $252,500.00

 

Interest Rates: 30 year fixed is 4.05% was 4.06% the 15 year rate is 3.40% was 3.37%. 5/1 ARM is 2.96% was 3.01%. Refinance now it just cannot stay this low for long, it just can’t.

 

EU ten year government bonds cover 29% spread from low rates paid to borrow by Germany and high rates that it cost Greece to borrow. Rumor was on NPR last week that Greece was leaving EU to join the SEC conference.

 

Rod's Notes For Wednesday 11/02/11


Rod's Notes Wednesday 11/2/11

 

Go to rodnolespropertymanagement.com click radio notes and sign up to have them emailed each week.

 

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).

 

$3,799 highest price to Stub Hub for 50 year line ticket to LSU / Bama game per WSJ or 1,000 pounds of pecans @ $3 per pound sounds like a nutty deal.

 

Attachments, Announcements, and Travels:

 

KCS over pass landscape on Main street dedication and Dollar General new store ground breaking. I have enjoyed good investment returns on main street last acquisition was former Rapides Bank building.

 

James L. Meyer dedication of our commercial terminal was a class act. Well done, well attended, and very well deserved.

 

Sheppard Center Wine Auction this Saturday at 6:30Pm at 1826 North City Park Bldv home of Paul and Jo Earle Guillory. Dr James White will be there answer any question and certainly to make you laugh.

 

City of Alexandria utility department is impossible to get on the phone. Is anyone else having problems with turning on utilities? Our property management might be forced to leave utilities off when showing property as it takes most the morning just to get someone to answer the phone. Not true with City of Pineville or CLECO.

 

Construction has stopped on highway 28 west due to endangered mussel. Placed a call to highway Department after call from listener last week and my source is solid. Part of construction has to be removed and new bridge design to provide mussels with better chance for survival. Hope this is not true. One human life for a bushel of mussels is just a bad deal. Tell me this story is not true.

 

People not properties:

 

New Agency taking over for Louisianan Housing Finance Agency’ work now has their full board appointments in place and our very own Matt Ritchie is one of the 11 board members along with LRA executive director Malcolm Young.

 

Debbie Ransom was the agent representing the Fair Board in purchase of their additional property on highway 71 South. The Town Talk did not mention Debbie’s name as broker involved and I did not know that last week when we announced the sale on this show.

 

Justin and Thomas Giallonardo will be our guest this morning to talk about their new headquarters and business activity

 

Participants in first ever economic forum sponsored by Central La. board of Realtors: John Kennedy, Chip Songy, Elliott Stonecipher, Malcolm Young and Norman Morris. Big thanks to Brenda Lutggehram she did an over the top job. Thanks to our sponsors and all media outlets. Special thanks to Jim Smilie at The Town Talk.

 

Bret McCormick another good article regard neighborhood profile with his week end story on Charles Park. Did not mention voter turn out of less that 20% for recent election.

 

Every Deal has a tale / tail.

 

Five Guys Hamburger opening soon in Petron’s Horizon building on North Mall Drive.

 

Freds Department store has purchased a sight on highway 28 East. Gary McKay owned the property and Jack Hodges represented the developer.

 

Hudy C Foreman, Jr. & Johnnette N Foreman (P O Box 10, St. Landry, LA 71367) to Joseph W Dufour, Jr. (1046 Hwy. 1182, Plaucheville, LA 71362) - 354 acres in Sec 7, 8, & 12, T2SR1W, $371,700.00. This is just north of $1,000 per acre.

 

Kerry J & Barbara K LaBauve, et al (504 Belleau Wood Blvd., Alex., LA 71303) to Bulawick Properties, LLC (3640 Bayou Rapides Road, Alex., LA 71303) - Lot 3, Evangeline Oaks Subd., $448,500.00. Lewis Lauve and Bob Bussey purchased Kerry Labauve’s office on Bayou Rapides. Phyllis Bussey better get the listing on Jackson Street law office.

 

The Estate of Bill Lewis the inventor of the “Rattle Trap” home sold this week for $630,000. Debbie Schellenger, executrix of the Succn of Eula B Lewis to Gerald J Leglue, Jr. (6219 Landmark Dr. Alex., LA 71301) - Lots 2 & 3, Wycliffe Addn. (620 Wycliffe Way, Alex., LA 71303), $630,000.00.

 

Construction Contracts

Ratcliff Facilities, LLC (P O Box 7522, Alex., LA 71306) to Ratcliff Construction Co., LLC (P O Box 7538, Alex., LA 71306) - Dollar General Pineville (1106 Main St., Pineville, LA 71360), $745,000.00

 

England Economic and Industrial Development District to Gilchrist Construction Co., LLC - Mill and overlay a portion of runway 18-36, $1,780,018.40

 

(+4.5) 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.

 

Good news nationally this week: State tax revenues climbed 10.8% during quarter ended in June from same time last year according to Rockefeller Institute of Government at the State University of New York at Albany. The 10.8% increase is biggest in 6 years. State tax revenue for the country totaled $227.6 billion for the second quarter, is still 5.5% less than same time period of 2008. State sales taxes, account for one-third of state revenues.

 

Plus stock market was up 14% for the month of October

 

Legal recorder data for five business day October 24th through 28tht

 

(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 $6,311,898 with total number of sales 43

 

 

 

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

 

Catherine L Chevalier (409 Bush Ave., Alex., LA 71301) to Calvin M Collins (919 Maureen St., Alex., LA 71303) - Lot 2, Jamestown Colony Subd., et al (919 Maureen St., Alex., LA 71303), $155,000.00. Was going to research subdivision where Marilyn and I owned first home $29,500 total price $2,500 down, monthly payments $149.75 and years later remembered buying our daughter pair of running shoes that cost $149.75 but there was only one sale which makes it impossible to compare.

 

Roderick S & Brenda L Rogers (4423 Hathern St., Pineville, LA 71360) to Patsy A Rougeou (124 Nell St., Pineville, LA 71360) - Lot 49, Walden Point Subd. (4423 Hathern St., Pineville, LA 71360), $130,000.00. From 5-19-2008 through 10-27-2011 there have been only six sales with average price of $147,233. The sale I am tracking this week was $130,000 below measured average. Hence negative score

 

Jacques B Houston, Jr. & Catherine M Houston (113 Pebble Beach, Youngville, LA 70592) to Margery P Purkey (1911 Choctaw Dr., Alex., LA 71301) - Lot 120, Chandler Park Subd., et al (1911 Choctaw Dr., Alex., LA 71301), $219,500.00. Seven sales since 3-7-2008 through 10-28-2011 average price of $145,857 with lowest of $87,500 to highest of $219,500 (which is the sale we are tracking) hence positive score.

 

 

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

 

Report last week offered a hint of optimism for the battered new home market as new home sales ticked up 5.7% in September the first increase in five months so said the Commerce Department last Wednesday. New home sales are still on pace for the worst year on record that holds true for Cenla also. 

 

V& V Builders, LLC (P O Box 12846, Alex., LA 71315) to Darrell D Payne (5820 Hannah Dr., Alex., LA 71303) - Lot 244, Bocage Subd., Phase V (5920 Hannah Dr., Alex., LA 71303), $218,500.00

 

V& V Builders, LLC (P O Box 12846, Alex., LA 71315) to April R Painter (5819 West Austin Dr., Alex., LA 71303) - Lot 210, Bocage Subd., Phase V (5819 West Austin Dr., Alex., LA 71303), $203,000.00

 

D & J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) to Wallice M House (110 Rue Donahue, Pineville, LA 71360) - Lot 7, Rue Donahue Subd., Phase 2 (110 Rue Donahue, Pineville, LA 71360), $125,000.00.

 

Question for listeners how are the sales going for homes under construction at the Alexandria Golf and Country Club.

 

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

 

DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Eugene J Hernandez, Jr. & Charlotte A Hernandez (47 Sherwood Dr., Dry Prong, LA 71423) - Lot B, Sam Allen Subd., $20,000.00

 

Henry B Bruser, III & Jo Anne F Bruser (112 Cypress St., Boyce, LA 71409) to Darrin B & Kelly E Letsinger (6521 Taylor Oaks, Alex., LA 71301) - Lot 14, Lake Shores Subd. (TBD Cypress St., Boyce, LA ), $120,000.00. Two lots remain juxtaposed to national forest hiking trail and great news is your cell phone does not work here.

 

(+1) Lender total Sales rates positive score if lender sales are below 5% of total sales, only two sales last week totaling $200,277 / $6,311,898 = 3.17%

 

Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to Corey A Duffell (6128 Shreveport Hwy., Pineville, LA 71360) - 5.449 acres in Sec 14, T5NR1W (6128 Shreveport Hwy., Pineville, LA 71360), $125,152.00

 

Federal National Mtg. Assoc. to Bayou Properties of Cenla, LLC (1922 Gus Kaplan Dr., Alex., LA 71303) - Lot 19, Village Green Subd. (234 Fendler Parkway, Pineville, LA), $75,125.00

 

 

Prior to 2004 Fannie Mae and Freddie Mac kept their exposure low to no-doc and low-doc loans in keeping their internal risk management guidelines. 2004 is time period when senior management realized in order to meet political mandates it would be necessary to massively cut underwriting standards. . Politics not shortsightedness or incompetent risk managers drove Freddie and Fannie to eliminate its previous limits on no-doc lending.

 

The push to do more affordable business generated the following sub prime climb:

 

2003 total subprime and Alt-A originations $395 billion

2004 total subprime and Alt-A originations $715 billion

2006 saw one trillion.

 

If 2003 standards had remained in place this would not have been an agenda item in my notes each week.

 

Interest Rates: 30 year fixed is 4.04% was 4.16% the 15 year rate is 3.36% was 3.45%. 5/1 ARM is 3.01% was 3..00%. Refinance now it just cannot stay this low for long, it just can’t.

 

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.

 

LLC who are You?

 

Bayou Properties of Cenla, LLC Stephen Smith (5200 Rue Verdun, Alex., LA 71303) to Eddis M Cofield (314 Fendler Parkway, Pineville, LA 71360) - Lot 145Village Green Subd. (314 Fendler Parkway, Pineville, LA 71360), $156,500.00

 

John's Rentals, LLC John Guillot (109 Adams Path, Pineville, LA 71360) to TCBA, LLC Thomas Bolton (4821 Porter Circle, Alex., LA 71303) - Lot 1-3, Sq 2, Pecan Grove Addn., et al, $317,500.00

 

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