Rod's Notes Archives for 2011-12

Rod's Notes For Wednesday 12/21/11


Wednesday 12/21/11

Rod's Last Show Of The Year

 

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).

 

People not properties:

 

Jamie Lemoine for filling in for me last week at time when there was La Real Estate Commission meeting which I decided at last minute not to attend.

 

Secretary of Economic Development for State of Louisiana willing be calling in this morning for his “year end report.”

 

Banc Corp South is not a person but their building lighting at night is nothing short of beautiful.

 

Roy O Martin’s Presentation to Rotary

 

Very encouraging comments regard Oil & Gas activity in our area

Great links regard oil and gas activity at Flatwoods

 

http://www.gohaynesvilleshale.com/group/tuscaloosamarineshale/forum/topics/indigo-bentley-lumber-34h-1-results

or

http://www.gohaynesvilleshale.com/group/rapidesparish/forum/topics/eagle-ford-in-rapides-parish?commentId=2117179%3AComment%3A2220852&xg_source=msg_com_gr_forum

Jimmy DeRamus “Cajun Pawn Stars” premiere will be January 8th on History Channel at 9 pm. There is no doubt in my mind that this will be a “must see” show Jimmy DeRamus is one of most colorful local business men and show will be fun.

 

Pat Moore president elect for CABL, reminder CABL opposed four year status for LSUA so I am glad to see local leadership of that organization.

 

Attachments, Announcements, and Travels:

 

Birthday Present to Wife Marilyn took her to Saints / Vikings game in Minneapolis. Warmest weather in a Century had hoped to see snow instead people walking to the game in shorts. Highly recommend Ivy hotel downtown, skywalks are really neat. Three restaurants we can recommend Keyes for Breakfast, 112 Eatery www.112eatery.com and Zelo www.zelo.com . This my 5th trip to Minneapolis one previous Saints game and three teaching assignments. Each time I have found the people to be truly “Minnesota Nice.” Front page of sports section for USA Today was photo and story of ULL game, behind with only 32 seconds remaining on clock and your guy kicks 50 yard field goal.

 

Fulton acres study sale since 1-1-08

 

Cobblestone study sales history since 1-1-08

 

Mykoff Absorption report.

 

            Total market 10.72 months supply 740 homes on market 69 sold

            Above $400,000 14.5 months supply 29 homes on market 2 sold

            $250,001 to $400,000 14.67 months supply 88 on market 6 sold

            $150,001 to $250,000 12.93 months supply 194 on market 15 sold

            Under $150,000 9.33 months supply 429 on market 46 sold.

 

 

Every Deal has a tale / tail

 

$70.1 Million expansion at Fort Polk huge news for our community.

 

          $27 million will buy 8,250 acres

            $9.2 million for new fire station

            $8.3 million for machine gun range

 

Said before on this show many times be careful what you trust when you see National numbers. Then last week NAR admits they over stated sales numbers, are we really surprised any way NAR can positively spin numbers.

 

            Local MLS comparing November average prices for that month to same time in previous years

 

            2009               2010               2011

 

            $135,643       $158,001       $147,745       Average Price

 

            74                    69                    52                    Units Sold     

 

 

Alexandria Inn, LLC, et al  to MIC Aex, LLC (202 W Superior St., Suite 321, Duluth, MN 55802) - Parcel J of Calhoun Commercial Park I, $9,000,000.00. Hampton Inn (land was purchased in May 2005 Paul Stich handled the transaction.) At $9,000,000 with 106 rooms that is $84,905 per key, and the buyer borrowed $7,700,000 which is 85% LTV or $72,641 per room. This sale will attract additional hotel development in the area.  

 

MIC AEX, LLC (202 West Superior St., Suite 321, Duluth, MN 55802) to Ladder Capital Finance, LLC (345 Park Ave., 8th Floor, New York, NY 10154) - Parcel J of Calhoun Commercial Park I, $7,700,000.00

 

BMS Holdings, LLC Luther Mount Leesville, La (3599 Monroe Hwy., Kingsville, LA 71360) to Sabine State Bank (P O Box 670, Many, LA 71449) - 1 acre in Sec 36, T5NR1E (3599 Monroe Hwy., Kingsville, LA 71360), $1,231,220.02. Sabine Bank has 11 locations in Rapides Parish now sure if this is new site but I cannot see Sabine paying $28 psf for land only. More about this sale next week

 

T D H Properties, LLC (3818 Bayou Rapides Road, Alex., LA 71303) to BP & RM Enterprises, LLC Randy Michiels (411 Vickie Lane, Alex., LA 71303) - Lot C, The Courtyard (5615-C Jackson St., Alex., LA 71303), $215,000.00. Corner office up front next door to Target Wellness on other corner and

 

None of your business motel adjacent to Holiday Inn express is now under construction do not know which “Flag” it will fly.

 

Construction Contracts:

 

LA DOTD to Gilchrist Construction Co. - LA 107: Ruby Wise Elem.-Pine Grove Dr. road work, $2,694,823.90

 

LA DOTD to Command Construction Industries - Retainer contract for repair & replacement of guardrail in district 08, $438,774.00

 

Eagle Medical, LLC (3333 Drusilla Lane, Baton Rouge, LA 70809) to Salco Construction, Inc. (8484 Athens Ave., Baton Rouge, LA 70814) - Construct one 3,250 SF building on 2191 LA Hwy. 28 East, Pineville, LA 71360, $624,598.77

 

(4) 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 from December 12th through December 16th

 

(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 $13,571,218 but that includes suspicious sale of $9,000,000 so if you back that sale out we had $4,571,218 in volume with 36 transactions.

 

 

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

 

Katheleen M Lacombe (634 Red Maple St., Coushatta, LA 71019) to David F & Cheryl R Pope (1319 Horseshoe Dr., Alex., LA 71301) - Lot 17, Cobblestone Village, et al (6053 Cambridge Dr., Alex., LA 71303), $155,000.00. This sale is below 2010 average of $177,000 and blow 2011 average of $159,000 for negative score.

 

Wilbert R & Ada F Bryant (126 Lenora Dr., Pineville, LA 71360) to Truitt L & Judith L Thompson (1615 Fulton Dr., Alex., LA 71301) - Lot 18, Fulton Acres, $285,000.00. Oly six sales since 1-1-2008 average price of $228,291 sale we are tracking this week is $285,000 for positive score.

 

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

 

Samson Construction, LLC (37177 Heritage Court, Geismar, LA 70734) to Robert M Espejel (P O Box 857, Ball, LA 71405) - Lot 12, Shadow Creek Ranch Subd., Phase I (314 Shadow Creek Ave., Pineville, LA 71360), $166,900.00

 

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

 

Henry H Bolton (P O Box 928, Lindale, TX 75771) to Allen D & Cynthia L Phillips (135 Will White Road, Mora, LA 71455) - 6 acres in Sec 6, T4NR5W (239 Will White Road, Mora, LA 71455), $45,000.00

 

Bartley Wright, et al (6176 Impatients St., Ellettsville, IN 47429) to Carl A & Charity C Buckley (132 Remington Road, Lockport, LA 70374) - 4.5 acres in Sec 5, T1NR3W, $13,000.00

 

(+1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave us three sales with volume of $177,400 / $4,571,218 = 3.88%

 

Gulfco of Louisiana (1505 10th St., Oakdale, LA 71463) to Ricky D & Dana M Elliott (P O Box 434, Forest Hill, LA 71430) - Tract in Sec 9, T1SR2W, $7,000.00

 

Federal National Mtg. Assoc. (14221 Dallas Parkway, Suite 1000, Dallas, TX 75254) to Bobby G Dean, Jr. & Heather N Dean (240 Mosby Dr., Pineville, LA 71360) - Lot 28, Donahue East, First Filing (240 Mosby Dr., Pineville, LA 71360), $102,500.00

 

Dept. of HUD to K Pro Enterprises, LLC (5411 Coliseum Blvd., Alex., LA 71303) - Lot 130, Lebanon Subd., 5th Ext., $67,900.00

 

Interest Rates: 30 year fixed is 3.93% was 3.96% the 15 year rate is 3.28% was 3.30%. 5/1 ARM is 2.83% was 2.88%.

 

 

LLC: Who are you?

 

Two Mules,  LLC Ronald Sullivan, 868 Ridgeview Dr. Pineville (4020 Parliament Dr., Alex., LA 71303) to William C & Mary C Wiley (707 Lakeshore Dr., Pineville, LA 71360) - Tract in Sec 16, T5NR1W, $203,500.00

Rod's Notes For Wednesday 12/07/11


Wednesday 12/07/11

 

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).

 

Attachments, Announcements, and Travels:

 

Chandler Park Subdivision study.

 

Board of Realtors Awards and Installation Banquet this week at the Bistro. Affiliates expo one hour prior to lunch meeting of our 300 Board Members 127 have purchased tickets to this event.

 

Awards for this past year include the following and I will announce winners next week

 

Rookie of the Year

Realtor of the Year

President’s Plaque

 

High producers were once called the “Million Dollar Club” which meant you needed to list or sell one million in sales volume for the year. This year 59 of our members achieved this level of production. Last year it was 70 the year before it was above 80. By my calculations based on commission rate and agent’s split with their broker one could reach this milestone with $20,000 in annual earned commission. Does this mean out of 300 Realtors only 59 made $20,000 per year? Listen to the answer on the show.

 

Announcement: Open house beginning today at 2070 North Mac Arthur for Wurth Snider Bolt & Screw for new 13,000 square foot office and warehouse. Larry Bordelon is developer and landlord for this building.

 

Tunica-Biloxi $13 million dollar 40,000 square foot cultural center opening is either soon or has happen recently drive by reporter please call and let us know which.

 

End of the year real estate income tax tips: Not much you can do for tax planning related to real estate this late in the year. You can rush some deductions for example, pay January’s house note early deduct one more month’s interest for 2011. You can delay closing of taxable transaction until January pushing gain into 2012 vs. 2011.

 

People not properties:

 

Jonathan Goins thanks for your decision to serve the public a city council member from District 3.

 

Kudos to those who are willing to take leadership roll for Board of Realtors

 

Roz Allemond President 2012

Elaine Setliff President Elect

Amanda Crooks, Secretary Treasurer

 

Jarred Walker, met him at Red River Bank’s Christmas party new agent with Century 21 Millennium. Paige Walker’s son was such an impressive young man I asked him to appear on show as guest sometime to share with us the adventure of young person’s entry into our business.  

 

Every Deal has a tale / tail

 

New restaurant: Susan Matthews represents tenant and Alvin Mykoff represented landlord. Sammy’s Southern Foods independently owned and either 19 or 20th location for New Orleans headquarters company. Oh yea location at former China Princess between Hertz rental and Security sporting goods.

 

 

Last Week’s mistake: Mentioned Brown and Brown Insurance building was formerly Alexander and Alexander Insurance. What I should have said it was the Alexander and Bolton Office since 1962. Opps, sorry thanks Martin Heyman for catching the mistake.

 

Rayford Office Building with 4 acres of land plus the jet air plane is for sale at $3,500,000. If there were ever a building that could brand a company this is the spot.

 

Before the last show this year I will have a segment for $1,000,000 deals closed this year. I will comb through approximately 2,000 closed transaction and pull out those deals north of $1,000,000.

 

Carich Investments, LLC David Carlton (218 West Lauren St., Alex., LA 71303) to Daniel Lester, DDS (1431 Peterman Dr., Alex., LA 71303) - Part A of Lot 31, Metroplex Subd. (1431 Peterman Dr., Alex., LA 71303), $208,067.07. This appears to be location where Dr. Lester must have been leasing and now is buying from his landlord who is local oral surgeon.

 

Super 10 closing across from entrance to Louisiana College and I thought is was closing due to new Dollar General but have discovered that they are closing three store this round all of which are in leased facilities. We manage this property made inspection yesterday and there is a real “Going out of Business” sale. Better hurry everything will be gone by Christmas or sooner.

 

None of your business motel adjacent to Holiday Inn express is now under construction do not know which “Flag” it will fly.

 

Bayou Rapides just prior to Country Day school on same side of the road (formerly Blackie Vandersypen I do believe) what is being built here? Wonder no longer you heard it here first Ronnie Rayburn local utility contractor all around great fellow is building stables for his horses and bet he will later build his home on this site.

 

$2.5 million dollar price reduction. Dennis Miller’s home in Montecito, Ca. has been reduced from $17.5 million to $15 million go on line to CB Previews International in Montecito, Ca. if you are interested and then call me I will draft the buy and sell.

 

4th house this quarter to sell at or near $1,000,000 (2 this week)

 

Diane C & Craig W Hamilton to Hallie N & Christian J Wold - 2.856 acres in Sec 43, T3NR1W, et al, $1,250,000.00.

 

David R Gilchrist (1500 Hwy. 456, Lecompte, LA 71346) to Darren J & Maria J Olagues (6321 Audubon Oaks Dr., Alex., LA 71303) - Lots 19 & 20, Timber Trails Subd., Unit 7, et al (6220 Tennyson Oaks Lane, Alex., LA 71301), $800,000.

 

Both of the other homes were on or near horseshoe drive. Dr. Drury home and David Walker’s home

 

Construction Contracts:

 

$629,150 was the low bid for addition and renovation to Rapides Parish Sales and Use Tax Office. Larwood Construction LLC low bidder. Same Police Jury agenda there was a motion to advertise for lease vacant space at 5610-E Coliseum begs the question why do they need to expand and yet have vacant office space for lease. I am sure there is a good answer probably not located next door, too small etc.

 

All-Star automotive Chrysler / Dodge/ Jeep dealership on highway 28 West under construction.

 

 

(+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.

 

Governor Roemer’s focus group study showed attitudes were best in the week that LSU and the Saints won. Well folks in the state should be happy this week Saints win 4th in a row and LSU is undefeated. If you live in Winnfield area bet you can barely sleep with Winnfield tigers on the way to Mercedes-Benz dome for State Playoffs. Last time Winnfield football team was in the playoffs was 1982. I was 32 years old then.

 

Legal recorder data for five business days from November 28th through December 2nd

 

(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 $4,629,866 only 26 sales, just three homes totaled $2,605,000 ($555,000 in Tennyson Oaks, $800,000 in Tennyson Oaks, and $1,250,000 on Horseshoe Drive) or 56% of total sales.

 

 

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

 

Roderick E Adams, Jr., et al (307 Iris Park, Pineville, LA 71360) to Vaamana, LLC (5114 Mallard Dr., Alex., LA 71303) - Lot 5, Blk 2, Shirley Park Subd. (3424 Prescott Road, Alex., LA 71301), $54,350.00. Very few sales in past three years in Shirley Park but average price is $71,450 the sale we are tracking this week is $54,350 for negative score.

 

Richard C & Sheila D Rhea (22743 Alabama Hwy. 55, Andalusia, AL 36420) to Ian J Stilgoe (224 Southland Road, Alex., LA 71302) - Lot 79, Chandler Park, et al (5608 Mildred Ave., Alex., LA 71301), $169,900.00. average price last year was $140,433 and this year $175,600 the sale we are tracking this week is $169,900 for negative score.

 

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

 

Three B Construction, LLC (P O Box 2167, Prairieville, LA 70769) to Cam C & Whitney J Hallman (356 Moss Point Dr., Lot 42, Boyce, LA 71409) - Lot 54, Shadow Creek Ranch (341 Shadow Creek Ave., Pineville, LA 71360), $159,900.00

 

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

 

L.A.W. Three, Inc. (8164 Titleist Dr., Pineville, LA 71360) to Kerry D & Frances L Youngblood (8170 Titleist Dr., Pineville, LA 71360) - Lots 19 & 20, Timber Trails Subd., Unit 7, $10,000.00

 

(+1) Lender total Sales rates positive score if lender sales are below 5% of total sales, this week market gave us zero

 

Interest Rates: 30 year fixed is 3.99% was 4.04% the 15 year rate is 3.36% was 3.40%. 5/1 ARM is 2.92% was 3.00%.

 

 

LLC: Who are you?

Rod's Notes From Wednesday 11/30/11


Rod Noles Property Management, Inc.

 

  Radio Show Notes November 30th 2011
 
Go to:  www.rodnolespropertymanagement.comand 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).
 

Attachments, Announcements, and Travels
I flew to Atlanta for Falcons and Vikings game with our son Jeff. Stayed in Buckhead area and Vikings Team was staying in our hotel. Took Marta from airport to hotel and then Sunday to the game and afterwards back to the airport for all of $16. I-phone app has maps and satellite for exact time of next train.  Site of SEC championship if you are going to the game best route is to take the Marta (cheap, reliable, and safe).
 
Want to hear some Black Friday stories from our listeners. My wife and her sister Ginger went to Wal-Mart at late in the evening and I still don’t believe the stories they shared with us the next day. If you were there, give us a call at (318) 442-8255, next year I will be there “on assignment.” Compare the experience I had in New Orleans on the eve of Mardi Gras to attending city court with young friend of our daughter who pleaded guilty to disorderly conduct and paid her fine. This was an event that deserved a short story.
 
People not properties
Jeff Matthews good job on all 11 stories about our city’s neighborhood. Past week story about Enterprise road and Culpepper caused me to think “what can I do an investor to help this area?”
 
Kent House kudos as the Town Talk stated in Tuesday’s paper, “the party started here” kick off for bicentennial was at the Kent House this past Tuesday. If one of our listeners were there please call in and tell us about the event.  
 
Every Deal has a tale / tail
Dr. Rabie has moved into his new medical office directly behind Women’s Hospital at Rapides General
 
3130 former Alexander and Alexander insurance office currently Brown and Brown is now for lease. This building has been a prime spot for an insurance office for nearly 50 years. Brown and Brown is moving to 4615 Parliament Drive next month.
 
Construction Contracts total of $4,547,674
City of Alexandria and Griner Drilling Service, Inc. - Restoration of 4 urban water well sites, $2,248,347.00
 
Louisiana College (1140 College Dr., Pineville, LA 71360) to Tudor, Inc. (1412 Centre Court, Suite 500, Alex., LA 71301) - Construction of 14,312 sq ft student housing, $1,807,147.00
 
Kings Country Village, LLC (109 Northpark Blvd., Suite 300, Covington, LA 70433) to Tudor, Inc. (1412 Centre Court, Suite 500, Alex., LA 71301) - Construction of Rapides Medical, Kings Country Village, $492,180.00
 
Bond for deed (explain what this means)
Lee B Hamilton (8405 Plaintain Court, Arlington, TX 76002) to Sedrick & Amberly Porter (2312 Dogwood Lane, Alex., LA 71301) - Lot 12, Blk B, Martin Park Subd. (3903 Maywood St., Alex., LA 71302), $134,000.00
 
 
(+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 18, 21,22,23,28 with Thanksgiving I will report partial volume and number of sales multiple times in next two weeks.  
 
(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 $2,505,384 with 27 sales. Sales during holidays are generally slow this season is no exception.  

(-1) Random sales comparison
 We track average sales price in certain subdivision for 2008 through 2010 and compare it to a sale this.
 
Larry J Dauzart (339 Ian Johnson Road, Otis, LA 71466) to Scott A Beaderstadt (2413 Linnwood Lane, Alex., LA 71301) - Part of Lot 35, Greenway Park (2413 Linnwood Lane, Alex., LA 71301), $22,000.00. Only 4 sales in past three years average price $23,875 sale we are tracking is lower at $22,000 for negative score. This subdivision only has 57 lots total.
 
Sharon C Lee (610 Chandler Dr., Ball, LA 71405) to Glen R Davis (610 Chandler Dr., Ball, LA 71405) - Lot 24, Buena Vista Subd., $76,000.00. Three sales since 2-7-2008 average price is $90,166 sale we are tracking this week is $76,000 hence negative score. This subdivision has only 21 lots located off Paradise Road.
 
(+1) New Home sales
 Looking for a single sale this week for positive score the market gave us two
 
Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Shawn S Gorham (308 Nickel Loop, Pineville, LA 71360) - Lot 16, Williams Lane North Subd., Phase II, $137,500.00. Off of Highway 3128 Where is this?
 
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
 
(+1) Lot Sales or home site acreage
Only need one sale for positive score and this week the market gave us eight with 4 from developer’s inventory
 
Vicky H Arnold (239 Williford Road, Ball, LA 71360) to Roy D & Gwendolyn A Schellenger (P O Box 309, Ball, LA 71405) - 4.824 acres in Sec 17, T5NR1E, $10,000.00
 
Vanmol & Sons, LLC (P O Box 407, Woodworth, LA 71485) to Yasser A Ghannam (121 Lotus St., Pineville, LA 71360) - Lot 31, Ocho Rios Subd., $29,000.00. 13 sales in past three years average price$33,750 last two sales below $30,000
 
Bocage Subdivision of Alexandria, LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 232, Bocage Subd., Phase V (5819 Hannah Dr., Alex., LA 71303), $22,000.00
 
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

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
 
James R Teddlie (618 Audubon St., New Orleans, LA 70118) to Blumenstock & Sons, LLC (886 Valentine Lake Road, Elmer, LA 71424) - Lots 7 & 10, Blk 2, A B Burns Subd. Ext. (618 Lallah St., Pineville, LA 71360), $35,000.00
 
Ballina Farms, Inc. (P O Box 12487, Alex., LA 71315) to Larry Early & Delyle Baltzer (6422 Bayou Oaks, Alex., LA 71303) - Lot 166, Tennyson Oaks Subd., Phase 7B (TBD Taylor Oaks, Alex., LA 71301), $57,000.00. Only 23 lots remaining in Tennyson Oaks 8 large lots are on the lake leaving only 15 traditional lots.
 
James A Franks, Jr. & Theresa B Franks (135 Sandy Lane, Marksville, LA 71351) to Jory P & Sheri T Franks (200 Sandy Lane, Marksville, LA 71351) - 11.797 acres in Sec 35, T2NR2E (200 Sandy Lane, Marksville, LA 71351), $42,000.00
 
(+1) Lender total Sales
Score will be positive if lender sales are below 5% of total sales. This week the market gave us a volume of $85,000 / $2,505,384 = 4.54%3.39%
 
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
 
Dept. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Rantan Properties, LLC (411 Vickie Lane, Alex., LA 71303) - Lot 151, Acadian Village # 3, $28,988.00
 
Interest Rates
30 year fixed is 4.04% was 4.02% the 15 year rate is 3.40% was 3.37%. 5/1 ARM is 3.00% was 2.99%.
 
FHA news
Congress voted to restore loan limits and maximum cap for FHA loan. This action reinstates the loan limit of 125 percent of area median price, up to $729,750. Editorial this week in Wall Street journal asking “Is FHA the Next Housing Bubble?” article quotes Wharton real-estate finance professor Joseph Gyourko. Professor notes FHA’s exposure has grown to $1 trillion from $305 billion in 2007 (Rod’s comment this was not housing boom time frame) Law says FHA must have 2% capital reserve and they have less than .24%.
 
FHA has two internal projections (1) record payouts on loans they have backed as borrowers default and (2) $9 billion of new business. FHA has exposure of $1 trillion up from $305 billion. Better job of underwriting in 2007 47% of borrowers had credit score of less than 620 but today that figure is 3.5% and average credit score is 700. FHA backs one-third of all new single family mortgages. FHA is moving toward market dominance and moving away from making housing affordable for lower income families. My concern is a lender who is growing their business with 5% down plan could not weather a down turn in private business.
 
Total USA debt
The country is working its way through deleveraging by (1) defaulting on loans (2) paying down debt and (3) smaller home loans at purchase or re-financing. July to September debt fell by .60% now at $11.66 trillion keep in mind FHA has 10% of this total debt. If you take out real estate debt consumer debt rose 1.3% from previous quarter. The value of new mortgages appearing on credit reports fell 17% from the previous quarter and 24.7% from a year earlier. Rod’s comment as to what is causing this demand for single family lows is down below 2000 level (turn back clock on that 11 years) (1) values are down (2) people are buying less expensive homes (3) new spec home is at nonexistence level (4) buyers are putting more money down (5) with cash earning less than 1% consumers are re-financing and putting cash into the deal earning 4% to 5% on their money and each payment reduces low balance faster.
 
LLC who are you
The Blue Vase Properties, LLC Mitizi Moreau Taylor(1401 Bonnabel Blvd., Metairie, LA 70005) to Jaunalito M James (1324 Chester St., Alex., LA 71301) - Tract known as 1324 Chester St., Alex., LA 71301, $48,000.00
 
James R Teddlie (618 Audubon St., New Orleans, LA 70118) to Blumenstock & Sons, LLC David Blumstock(886 Valentine Lake Road, Elmer, LA 71424) - Lots 7 & 10, Blk 2, A B Burns Subd. Ext. (618 Lallah St., Pineville, LA 71360), $35,000.00
 
Fernard John Boone (360 Cedar Lane, Marksville, LA 71351) to Seller's Rentals, LLC Curtis Sellers(13397 Hwy. 28 E, Deville, LA 71328) - Lot 2, Sq D, Crawford Addn. (209 24th St., Alex., LA 71301), $25,500.00
.
Sterling C Bain, Jr. & Deborah R Bain (P O Box 250, Bunkie, LA 71322) to SCB, LLC Sterling C. Bain Jr.  (807 Sterling Bain Road, Bunkie, LA 71322) - 3.89 acres in Sec 1, T1SR3E, $165,000.00
 
Bellares Properties, Inc Christina B. Modares(11 Stokes Road, Pineville, LA 71360) to Rantan Properties, LLC Randy Michiels(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
 
 
 

Ocho Rio Subdivision Study November 2011
 
 

02/21/2008

1806/394 1362744

Vanmol & Sons, LLC (P O Box 13392, Alex., LA 71315) to Chad W & Shanna L Futch (270 Lee Bridge Road, Pineville, LA 71360) - Lot 4, Ocho Rio Subd., $35,000.00
 

08/15/2008

1820/789 1378035

VanMol & Sons, LLC (P O Box 13392, Alex., LA 71315) to Cooley Enterprises, LLC (6810 Masonic Dr., Alex., LA 71301) - Lot 16, Ocho Rios Subd., Phase I-A, $39,500.00
 

08/26/2008

1821/494 1378872

Chad W & Shanna L Futch (405 Ocho Rio Dr., Pineville, LA 71360) to Erich L. Greer (270 Lee Bridge Rd., Pineville, LA 71360) - 8.00 acres, Sec 25, T2NR2E, $42,000.00
 

08/26/2008

1821/500 1378875

Chad W & Shanna L Futch (405 Ocho Rio Dr., Pineville, LA 71360) to Andrew H & Charlotte W Jordan (11 W. Jordan Rd., Pineville, LA 71360) - 12.609 acres, Sec 25, T5NR2E, $40,000.00
 

11/25/2008

1827/563 1385228

Vanmol & Sons, LLC (P O Box 13392, Alex., LA 71315) to Cooley Enterprises, LLC (6810 Masonic Dr., Alex., LA 71301) - Lot 49, Ocho Rios Subd., $39,500.00
 

10/15/2009

1849/11 1409048

Vanmol & Sons, LLC (P O Box 13392, Alex., LA 71315) to Cooley Enterprises, LLC (6810 Masonic Dr., Alex., LA 71301) - Lot 37, Ocho Rios Subd. (814 Tyson Dr., Pineville, LA 71360), $35,000.00
 

04/05/2010

1858/749 1419594

Vanmol & Sons, LLC (P O Box 13392, Alex., LA 71315) to Cooley Enterprises, LLC (6810 Masonic Dr., Alex., LA 71301) - Lot 3, Ocho Rios Subd. (406 Ocho Rios Dr., Pineville, LA 71360), $32,000.00
 

08/06/2010

1868/926 1430827

Vanmol & Sons, LLC (P O Box 13392, Alex., LA 71315) to Cooley Enterprises, LLC (6810 Masonic Dr., Alex., LA 71301) - Lot 46, Ocho Rios Subd., Phase IB, $30,000.00
 

09/28/2010

1872/443 1434736

Vanmol & Sons, LLC (P O Box 13392, Alex., LA 71315) to Cooley Enterprises, LLC (6810 Masonic Dr., Alex., LA 71301) - Lot 52, Ocho Rios Subd., Phase IB, $30,000.00
 

11/18/2010

1875/508 1438288

L & H Enterprises of LA (P O Box 3145, Pineville, LA 71360) to Pamela G Lindsay (4411 Grantham Dr., Pineville, LA 71360) - Lot 47, Ocho Rios Subd., Phase 1B, $30,000.00
 

02/03/2011

1880/329 1442953

Vanmol & Sons, LLC (P O Box 407, Woodworth, LA 71485) to Kasey L Leverich (P O Box 11, Hessmer, LA 71341) - Lot 1, Ocho Rios Subd., Phase 1A, $30,000.00
 

04/08/2011

1885/177 1447399

L & H Enterprises of Louisiana, LLC (P O Box 3145, Pineville, LA 71361) to Lance C & Laurie M Lopez (1638 Donahue Ferry Road, Pineville, LA 71360) - Lot 45, Ocho Rios Subd. (0 Ocho Rios Dr., Pineville, LA 71360), $26,750.00
 

11/22/2011

1901/337 1463672

Vanmol & Sons, LLC (P O Box 407, Woodworth, LA 71485) to Yasser A Ghannam (121 Lotus St., Pineville, LA 71360) - Lot 31, Ocho Rios Subd., $29,000.00 
 

 
 

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