Rods Radio Show Notes June 12^th 2013
 

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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). KSYL has now added Wednesday evening encore at 8:00 pm

 
Story about London could not tell last week. Small world Winston Churchill’s command bunker…did not say who for security reasons. Foster Walker closed an investment property with PR team the very next Thursday.
 
Walker Oldsmobile Co., Inc. (1616 MacArthur Dr., Alex., LA 71301) to Mi Dushi Properties, LLC (5241 Fieldcrest Ave., Alex., LA 71303) - Lot 4 & part of 3, Sq 5, S A Guy's Addn., et al (1605 Bush Ave.), $125,000.00
 
 
Every Deal has a Tale / Tail:
 
1921 Jackson new restaurant opened: The name of the restaurant is 1921 Catherine Davidson a recovering lawyer daughter of Judge Davidson is the owner. Do not know the chef’s name need help from drive by reporters
 
Other Restaurant News:
 
Brocato has moved to their new location on Highway 28 West the former Sharkey bar
 
Construction under way for Spirits on Texas Avenue the former Parish Health Center
 
Construction has stopped on Golden Corral at Westgate the former site of Budget car rental. Any new from drive by reporters.
 
Sundrop Buys Another Property:
 
The Red River Waterway District to Sundrop Fuels of Louisiana, LLC (2410 Trade Center Ave., Suite A, Longmont, CO 80503) - Tract in Sec 7 & 8, T5NR2W, $10,000.00. Word is on the street construction should start by 4th of July
 
Planet Fitness Story from Last Week:

Former Office Max. Concourse Realty Associates I, LP (2432 Grand Concourse, The Bronx, NY 10458) to Gary W & Pamela S Babineaux (2600 WPA Road, Sulphur, LA 70663) - 2.176 & 9.989 acre tracts being part of West End Retail Center, $1,325,000.00.
 
Rent for health club $20,500 per month: Gary W & Pamela S Babineaux (2600 WPA Road, Sulphur, LA 70663) to The HBBR2 Company, LLC, et al (1130 S Fieldspan, Duson, LA 70529) - Tract known as 2255 S MacArthur Dr., Alex., LA 71301 for 15 years @ $20,500.00 monthly rent. I wondered how many monthly memberships at $45 per month would it take to pay the rent of $20,500 / $45 = 455 members. That sounds reasonable to me but I have never owned a health club.
 
$20,500 x12 months = $246,000 Gross * .7 (NET, estimating 30% expenses) = $172,200 estimated NOI / $1,325,000 Purchase Price = 13% cap very rough numbers doesn’t include TI /renovation costs not sure who is paying what…BUT GOOD LOCAL DEAL
 
I am concerned with recently announced closed business or bank branches.
 
Five Star Furniture last week story: going out of business sale, this is second furniture store this year to close in Central La. this year. Other store was Carroll Furniture store on Memorial.
 
Stone Carpet next to Harley Davidson leaving this market Harley expanding. Second carpet store to close the other store is Hooper Carpets on Highway 28 West.
 
Block Buster’s: closed Jackson street store
Whitney announces closing: for 3 bank branches.
 
Large land loan Travis A & Kathy R Broadway (41 Guy Peart Road, Alex., LA 71302) to Louisiana Land Bank (P O Box 4806, Monroe, LA 71211) - 3,734 +/- acres in Sec 25 & 36, T2NR1E & Sec 18, 19, 21, 28-33, T2NR2E, et al, $2,722,500.00 / 3,734 acres = $729 per acre loan amount.
 
Two of My Favorites are Back in Legal Recorder.
 
England Authority: Jody R Morace (20 Cooper Road, Boyce, LA 71409) to The England Economic and Industrial Development District - 5.079 acres in Sec 11, T4NR2W, $70,000.00
 
James W Greer, Jr. (P O Box 1719, Tioga, LA 71477) to Francisco J & Karla J Acuna (5110 Hunters Grove Lane, Alex., LA 71303) - 7.76 acres in Sec 3 & 4, T3NR1E being part of Lot 2 of a resurvey of Lelia C Guyton Estate, $59,000.0
 
People not Property: 
 
Harold Turner buried his son Ben this past Saturday. Ben was 31. Lots of Alexandria friends at Shreveport funeral service. Keep this family in your prayers.
 
Tip for the Week:
 
Anyone considering whether to buy a home to live in, the decision should focus on whether they can afford the payments, and other cost of ownership, regardless of where prices or interest rates might go. 
 
Bad Lawsuit Story:
 
Lady trips and falls in parking lot across the street after picking up her free prescriptions from “Free Pharmacy and sues the Pharmacy and everyone else within shouting range. 
 
Construction Contracts: 
 
Shiloh Missionary Baptist Church (1130 9th St., Alex., LA 71301) to Westerchil Construction Co., Inc. (1833 Sterkx Rd., Alex., LA 71307) - New Church Facility of Shiloh Missionary Baptist Church, 3148 Lee St., Alex., LA 71301, $828,130.00
 
Rapides Parish School Board to Regional Construction, LLC - Lessie Moore Elementary School Site Paving, Fencing and Walking Trail Improvements, $91,500.00
 
Rapides Parish School Board to Regional Construction, LLC - Pineville Elementary School Site Paving, Fencing and Walking Trail Improvements, $176,600.00
 
Mykoff Absorption Report:
 
Total market May 1st 817 homes for sale 117 sold = 6.98 supply
Above $400,001 33 homes 3 sold = 11 month’s supply
$250,001 to $400,000 homes on market 105 / 13 sold = 8.08 month’s supply
$150,001 to $250,000 homes on market 238 / 34 sold = 7 month’s supply
Under $150,000 homes on market 441 / 67 sold = 6.58 month’s supply
 
(5.00) 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. 
 
“Housing up, but is Foundation Sound?” Monday June 10 A@ Wall Street Journal great article by Nick Timiraos
 
Bulls say:
 
US hasn’t built enough housing to support the country’s growth
 
Slow economic recovery releasing pent-up demand first for rental housing and then for home purchases
 
Bears say:
 
Gains in housing will be short lived pointing to changes in access to credit, elevated consumer-debt levels and an over reliance on investors.
 
Housing prices have stopped falling convincing consumers that they’re no longer at risk of catching a falling knife.
 
Legal Recorder Data:
 
Business days from June 3, 2013 (my brother’s birthday) to June 7, 2013
 
(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.  
 
(+1.25) Total Weekly Volume:
 
A Positive score for the week with 46 sales and $5,237,305. Impressive activity for first week of the month. Largest sale was $675,000 home sale in Cherokee Park.
 
Best curb appeal for new listing: 1820 White Street $395,000 Martha Bradford’s listing. I drove by it yesterday on way back to the office from Washington Square.
 
(+1.25) Lot Sales:
 
To rank positive score need one sale per week the market provided one with zero developer inventory rates positive score for the week.
 
DKMK, LLC (6008 Stonegate Dr., Alex., LA 71303) to Bryon C & Tammi W Salazar (6524 Tennyson Oaks Lane, Alex., LA 71303) - Lot 44, Crossgates, Phase III (6012 Stonegate Dr., Alex., LA 71303), $37,500.00
 
Best Price reduction for the week: 15 acres on Lee Street across from Ratcliff Construction was $459,000 is now $150,300.
 
(+1.25) New Home Sales:
 
Looking for one new home sale per week the market gave us two for positive score for the week.
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Destin M & Lisa R Harris (1935 Thornton Court, Alex., LA 71301) - Lot 115, St. Andrews Links Estates, Phase III (232 St. Andrews Dr., Alex., LA 71303), $288,000.00
 
Johnny Porter & Sons Contractors, Inc. (42 Philadelphia Road, Pineville, LA 71360) to John L Bardwell (462 Hooper Road, Deville, LA 71328) - Lot 3, Prairie Land Subd. (6 Tyler Road, Deville, LA 71328), $143,000.00        
                         
                                   
(+1.25) Lender Sales as Percent of Total Sales:
 
Rates positive score if lender sales are below 5% of total sales, the market gave us a single sale $50,000 way below my 5% bar for positive score. 
 
J P Morgan Chase Bank (3415 Vision Dr., Columbus, OH 43219) to Granville Cross, III (306 Jones St., Pineville, LA 71360) - Tract in Sec 9, T4NR3E (1574 Hwy. 115, Deville, LA 71328), $50,000.00
 
Interest Rates:
 
Historically low but up from last year down from last week: 30 year rate was 4.11% this week is 4.06%, the 15 year rate was 3.26% this week it is 3.19%,
 
Indices

 
Consumer Money Rates

 
Currencies

 
Commodities

 
Bond Rates

Mykoff Monthly Comparison Absorption Report