Rod's Notes Archives for 2012-04

Rod's Notes For Wednesday 04/25/12


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).

 

Every deal has a tale / tail:

 

Vacant Burger King on 28 East is under contract sale has not closed but my taste buds tell me it is another fast food restaurant.

 

Rosters across from Harley Davidson is closed but the building will not be vacant long good location and lot of retail business can use 10,000 square foot building across from Wal-Mart and on road with good entrance to nearly 2,000,000 square feet of retail activity.

 

Razor’s Edge “Hot news” not sure what to call this segment would ask our listeners to call in with suggestions 318-442-8255. Winner gets a free shoe shine from Charlie (don’t just stop in and tell Charlie to bill me. I will call him)

 

$57,000 in Clerk of Court fees to record a super pile of oil and gas leases.

 

Jena Indians casino at Creola is under construction heard about it during my hair cut and I drove out to see for myself. Entrance road is probably one half mile, large site is cleared and concrete trucks were pouring pilings.

 

B.A.S.S masters only source better than my barber shop: Toledo Bend # 15 in the nation and Red River # 47complete list go to www.bassmaster.com/news/100-best-bass-lakes

 

The Alexandria area led the nation in earnings growth over a recent six-month period, according to a report issued from a leading site selection firm. Garner Economic LLC recently released the report measuring earnings in 372 U.S. metropolitan areas using data from the U.S. Bureau of Labor Statistics. The Alexandria Metropolitan Statistical Area experienced 33 percent growth in annual earnings in the six-month period through February -- tops of any MSA in the U.S. The Alexandria area had average weekly earnings of $792 in February, placing 70th in the country and ahead of some of the bigger urban areas in the country, including Miami, Pittsburgh, San Antonio, Cincinnati, Cleveland and Las Vegas. Houma-Thibodaux ($986), New Orleans ($869) and Lake Charles ($859) placed in the top 50 among MSA's in weekly earnings. The gains in the report are largely a result of expansions or replacing jobs lost during the recession at companies such as Procter & Gamble, Union Tank Car and Crest Industries. Improving entrepreneurial efforts and the Fort Buhlow Bridge construction project have also contributed, Clinton said.

Tudor wins bid for new city fire station on 28 West low bid was $2,179,500 could possibly mean lower insurance rates for West side of town. It would certainly mean higher rates without a fire station in west part of town. City owns 50% of parking area between National Guard and Coliseum with the Parish.

 

People not properties:

 

Anthony S. D’Angelo age 94 former public works director in Lanier administration passed away last month. Tony was great to work with and we appreciate his service of 30 years in U.S Navy and several years of public service in city of Alexandria.

 

Larry W Jeane is d/b/a Red River Landing BBQ (175 Northwood Dr., Pineville, LA 71360)

 

Gary Perkins executive director of BAS will appear on this morning’s show for major business announcement. I hope Gary is not going back into the restaurant business.

 

Ed Larvadain city councilmen must have wondered when he saw story about blighted house in Town Talk front page Friday 20th “what can I do about house falling in next door to my office?”

 

Kirk Savoy former Menard picture for accepting God grace for recovery from drug addiction. Redemption is a beautiful thing and drug addiction is so ugly for everyone it is hard to describe. Our son Jeffery once described it a “knife fight with the devil in a phone booth.” Kirk Savoy is now back in school pitching for LSU-Eunice our son Jeffery is certified drug rehab counselor in Rayville, La.

Construction Contracts:

Our Lady of Prompt Succor Catholic Church (401 21st St., Alex., LA 71301) to Ratcliff Construction Co., LLC (1715 England Dr., Alex., LA 71303) - Our Lady of Prompt Succor Catholic Church-Family Life Center Project, $2,222,900.00

LA Division of Administration to Central Electric Co. of Alex., Inc. (P O Box 7704, Alex., LA 71306) - Emergency generators & related work, Pinecrest Supports & Services Center, $858,000.00

Announcements, Attachments and Travels:

I spent Thursday afternoon and Friday morning helping one of the owners of Vintage Properties my friend Alvin Childs in his garden on land that is border by Texas, Desoto Parish, and Caddo Parish. Drove through town of Ketcha (not sure of spelling).

Brief quarterly report from ResiReports for Q1 2012

Apartments National Vacancy at 4.9% locally Paul White new apartments at Pine Highland look great. Office vacant on national basis is down only 10 basis points to 17.2% and locally largest recent lease is Plaza 28 by Maurice Hebert with 7,000 square foot lease. McKesson building lease expires in July 117,000 square feet of great like new space. First quarter for decrease vacancy in retail space since 2Q 2005 locally we did not over build but seems like more space is empty for longer periods of time.

(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. 

 

Legal recorder data: five business days from time period of April 16th through April 20th  

 

(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 subdivision sales compared to averages for 2008, 2009, 2010, 2011, and year to date for 2012.

 

(-1) Total weekly volume was:  closed transactions numbered 29 with volume of $3,612,325 which rated negative score for the week.

 

(.50) Random home sales for the week:

 

John M & Stephanie W Neal (4036 Huntwick Blvd., Alex., LA 71303) to Ryan C & Jillian L Donaghey (2070 Iris Park Dr., Pineville, LA 71360) - Lot 24, Iris Park Subd., $157,000.00. Only 7 sales in over 4 years and sale we are tracking does not indicate decline in average value price, hence a positive score.

 

2008 total sales were 3 the average price was $120,000 the lowest price, $114,000 and the highest price $130,000

2009 total sales were zero.

2010 total sales were 3 the average price was $159,966, the lowest price $134,900, and the highest price $165,000

2011 total sales were zero sales.

2012 total sales year is one at $157,000

 

Joe M Reeves (858 S Clearview Parkway # 126, River Ridge, LA 70123) to Sandra G Chambley (121 Seneca Court, Pineville, LA 71360) - Lots 16 & 17, Sioux Hills, Unit 4, $175,500.00. In past 4 years market has witnessed 13 sales with average price of $160,307. Three years sales have trended down but sale this week is back near 2008 average for subdivision positive score.

 

2008 total sales were 3 the average price was $183,166, the lowest price $151,500, and the highest price $210,000

2009 total sales were 4 the average price was $160,750, the lowest price $117,000, and the highest price $215,000

2010 total sales were 2 the average price was $147,500, the lowest price $140,000 and the highest price $150,000

2011 there was a single sale at $150,000

2012 there have been 3 sales with average price of $148,833 the lowest price was $125,000, and the highest price $175,000

 

(+1) Lot sales: To rank positive score need one sale market gave us 4 lot sales but only one from developer’s inventory. One sale rates a positive score for the week.

 

New Way Investments, LLC (3786 Old Marksville Hwy., Pineville, LA 71360) to Gary J & Karen R Guillory (385 Moss Point Dr., Boyce, LA 71409) - Lot 5, Tylin Acres Subd., $25,000.00

 

Terry L Lee (473 14th St., Springhill, LA 71075) to Wayne E & Dejena F Barton (1970 Hwy. 121, Hineston, LA 71438) - 1.42 acres in Sec 14, T2NR4W, $38,000.00

 

Tammie G Neie (13322 Larkhill Gardens Lane, Sugarland, TX 77498) to David L Walker (162 Lakeland Dr., Pineville, LA 71360) - Tract in Sec 7, T4NR1E, $37,000.00

 

Andrew D Powell (2010 Wesley Circle, Woodworth, LA 71485) to John E Marler (156 Bayou Clear, Woodworth, LA 71485) - 1.07 acres in Sec 19, T2NR1W (172 Bayou Clear, Woodworth, LA 71485), $30,000.00

 

(+1) New Home sales: to rank positive score need one sale last week market provided one new home sales for positive score.

 

V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Chad G & Sabrina A Travis (5819 Hannah Dr., Alex., LA 71303) - Lot 232, Bocage Subd., Phase V, $233,000.00

 

New home construction is improving but not nearly at 800,000 starts required to signal full recovery. Rents are higher, construction lending has improved, and looks like more homes will be built this year than at any point in past 3 ½ years. Seasonally adjusted annual rate of 747,000 permits as of March with 462,000 of those single family homes.

 

(+1) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, total number of sales for the week was $167,751 / $3,612,325 = 4.64% for positive score

 

Federal National Mtg. Assoc. to C J Coop, LLC - Lot 11, Judies Subd., # 3, $53,001.00

 

Bank of America, et al to Vivian J O'Neal (1443 Melder Road, Glenmora, LA 71433) - 7.5 acres in Sec 32, T1NR2W (1443 Melder Road, Glenmora, LA 71433), $69,250.00

 

Homesales, Inc. (1400 East Newport Center Dr., Deerfield Beach, FL 33442) to Register'd Taylor'd Properties, LLC (746 Old Valentine Road, Elmer, LA 71424) - .93 acres in Sec 31, T2NR3W (132 Frey Road, Elmer, LA 71424), $45,500.00

 

Louisiana's delinquency fell 0.39 points on the month to 6.36%, while the U.S. delinquency rate slipped 0.59 points to 7.24%. This is the percentage of home loans more than three months past due.

 

Interest Rates: 30 year fixed is 3.82% as 3.86%the 15 year rate is 3.07%was 3.10% 5/1 ARM is 2.72% was 2.72%.

 

Mortgage of interest

 

Carlo J Spera Building Alexandria, LLC (5412 South Maple Place, Broken Arrow, OK 74011) to Bank of Oklahoma (3237 South Peoria Ave., Tulsa, OK 74105) - Lot 1, Bacon Place Addn., et al (3001 Masonic Dr., Alex., LA 71301), $525,000.00

 

Thames Properties (3515 Castle Road, Alex., LA 71303) to Colfax Banking co. (P O Box 247, Colfax, LA 71417) - Tract in Sec 31, T4NR1W (3515 Castle Road, Alex., LA 71303), $580,000.00

 

Norm Thompson Properties, LLC (2238 Worley Dr., Alex., LA 71301) to Red River Bank (1412 Centre Court, Alex., LA 71301) - 226.3 acres in Sec 29, 26, 25, & 30, T3NR1W (2 Hwy 165 & 3 Hwy. 165, Alex., LA 71301), $1,139,944.29

 

Mortgage activity for the week: Total of 59 mortgage loans for volume of $11,278,739 / $3,612,325 = 3.12: 1 ratio highest this year. What does this tell us when loan volume is three times higher than closed sales?

 

 

Rod's Notes For Wednesday 04/18/12


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).

 

Every deal has a tale / tail:

 

Donuts shops are the theme this week.

 

Donuts, Coffee & Crème, LLC (6758 Dogwood Dr., Pineville, LA 71360) to Ed Bun & Mom Meang (2680 Bayou Pines Road, DeRidder, LA 70634) - Lots 13 & 14, Nine Oaks Subd. (4811 Hwy. 28 E, Pineville, LA 71360), $400,000.00. Donut shop across the street from Crest Industries on corner of Brown Lane and 28 East.  

 

Ed Bun & Mom Meang (2680 Bayou Pines Road, DeRidder, LA 70634) to Willie E Bailey, Jr. (6756 Dogwood Lane, Pineville, LA 71360) - Lots 13 & 14, Nine Oaks Subd. (4811 Hwy. 28 E, Pineville, LA 71360), $396,000.00

 

Starlight Donuts in Emerald Square, I promoted this location to Dunkin Donuts

 

New fast food on 28 West on pad site for former Century Tel property being marketed by Maurice Herbert.

 

308 acres sold for $520,285 Chris Naalbandian handle the sale on property located on highway 165 South. Sale document is attached. The buyer was Norm Thompson and seller was Camille Daspit Lacy and Renee Daspit Gremillion.

 

Cenla Physician Services, LLC James Patrick Taylor MD.  (P O Box 13590, Alex., LA 71301) to Foti Properties, LLC (3325 Giamanco St., Alex., LA 71301) - Part of Lots 8 & 9, Giamanco Heights Subd. (1211 Maddie St., Alex., LA 71301), $82,000.00.

 

Plans for new city fire station on 28 West will soon be out for bids. City owns 50% of parking area between National Guard and Coliseum with the Parish. I had hoped that they would build on Versailles in the Lake District but it makes sense to use your own property. Plan to make one last pitch for a trade.

 

People not properties:

 

Tracie H. Myers: Our daughter’s realtor in New Orleans: contact numbers are 504-512-2872 tracie.realtor@gmail.com. I wish we would have hired Tracie when Jenni and I purchased this condo in 2004. Great agent very poised and smart young business woman. If you are (1) selling property in New Orleans (2) moving to New Orleans (3) buying second home for yourself or university board child in New Orleans, give contact Tracie I guaranty you will be pleased and impressed. Thanks Tracie

 

James Greer is now officially Central La. Donald Trump. IN the past two weeks James has experienced some great ink in the Town Talk on his role as Pastor, developer for country club property, and partner with Richard Kyle on Cowboy Town. Should ask James to do the show when I am on the road but I might lose my spot for this Wednesday “fun time” All kidding aside open house at Cowboy Town was a great idea and except for grandson’s birthday party in New Orleans I would have been there. Listener question what was the name of former mascot for Cowboy Town. Town Talk article made James sound like Donald Trump when the reporter Jodi Belgard in writing about Village on the Green stated “it was valued at $1.65 million and Greer bough the subdivision for $700,000. James when on to praise development in Woodworth with new Caroline J. Dorman Junior High and brand-new Town Hall

 

Harry Silver had surgery for broken hip; we all wish him a fast recovery.

 

Alfred Mansour Town Talk announced he was partner with his cousin Jerome Karam on re-development of 43,000 square foot building and 15 acres of land at Plaza 28

 

Crest Industries now has 500 employees with $240 million in annual sales, not a person but a big part of our economic family here in Central La.

 

Kudos to Charles Elliott and his team for receiving #no 1 FBO in America award. Share story about Latter & Blum first visit to Alexandria.

 

Jeanette Dingeldein has been my executive assistant for over 35 years past several years came into the office once a day is hanging it up. Share story when air base closed.

Construction Contracts:

City of Pineville to KDC Construction Co., LLC - Street and drainage repairs on Live Oak Dr., Oakbrook Subd., $133,563.50

True Vine Missionary Church (831 Broadway Ave., Alex., LA 71301) to The Migues Deloach Co., LLC (2712 Davis Dr., Pineville, LA 71360) - True Vine Missionary Baptist Church In-Fill Project, $440,158.00

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to ACA Mechanical/Industrial, LLC (P O Box 6176, Alex., LA 71302) - Chiller replacement, Tioga Elementary School, $148,000.00

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to ACA Mechanical/Industrial, LLC (P O Box 6176, Alex., LA 71302) - Chiller replacement, Ball Elementary School, $148,000.00

Rapides Parish School Board (P O Box 1230, Alex., LA 71309) to Mid-Western Commercial Roofers, Inc. (2235 Irvin Cobb Dr., Paducah, KY 42004) - Roof replacement at J B Lafarge Center, $61,720.00

Announcements, Attachments and Travels:

French Quarter Fest in New Orleans past week, Honey Island Swamp Band shouted out happy birthday to Noles on eve of his 2nd birthday. Weather was great, crowds were polite but too large for me, and music was world class talent all for free. Saw Brad and Mimi Kirzner at Stella’s in Jackson Square.

Next week in the beginning of Jazz Fest at the Fairgrounds

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. 

 

Legal recorder data: five business days from time period of April 9th through April 13th (Monday will be double count this week)  

(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 subdivision sales compared to averages for 2008, 2009, 2010, 2011, and year to date for 2012.

 

(-1) Total weekly volume was: Only 28 sales with volume of $3,142,388 for negative score

 

Memo from President of Latter & Blum

 

(-1) Random home sales for the week:

 

Glen Murphy, Jr. (4813 Whitehall Blvd., Alex., LA 71303) to Kathleen P Ribar - Unit 412-B, Cypress Point Condominiums, Phase D, Building 4, $158,500.00. Negative score lower than last year’s average.

 

2008 sales totaled 4 with volume of $908,805 an average sales price of $$227,201. Lowest price was $152,000 and highest was $332,000

2009 sales totaled 5 with volume of $762,000 an average sales price of $152,577. Lowest price was $142,500 and highest was $165,500

2011 sales totaled 6 with volume of $1,053,500 an average sales price of $175,000. Lowest price was $154,000 and highest was $245,000

2012 year to date 2 sales one at $145,000 and the other at $158,500.

 

Susan D Arnold, et al (1440B Louisiana Ave., New Orleans, LA 70115) to Doris S Williams (1602 McNutt Dr., Alex., LA 71301) - Lot 13, Sq 2, Plantation Acres (1602 McNutt Dr., Alex., LA 71301), $79,000.00. Plantation acres rates negative score based on this sale and downward trend in volume.

 

2008 sales totaled 9 with volume of $1,043,000 an average sales price of $115,888. Lowest price was $75,000 and highest was $156,500

2009 sales totaled 9 with volume of $1,136,648 an average sales price of $126,294. Lowest price was $80,000 and highest was $156,500

2010 sales totaled 3 with volume of $$324,975 an average sales price of $108,325. Lowest price was $80,000 and highest was $130,000

2011 sales totaled 2 with volume of $260,000 an average sales price of $130,000.

2012 year to date 2 sales one at $65,000 and the other at $79,000

 

(+1) Lot sales: To rank positive score need one sale market gave us only one sale

 

Roy O Martin Lumber Co., LLC (P O Box 1110, Alex., LA 71309) to Robert B &Jennifer S Nichols (3300 Hoyt Road, Boyce, LA 71409) - 9.852 acres in Sec 10, T4NR4W, $24,630.00

 

(-1) New Home sales: to rank positive score need one sale last week market provided zero.

 

New home construction is improving but not nearly at 800,000 starts required to signal full recovery. Rents are higher, construction lending has improved, and looks like more homes will be built this year than at any point in past 3 ½ years. Seasonally adjusted annual rate of 747,000 permits as of March with 462,000 of those single family homes.

 

(-1) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave 7 sales with volume of $322,330 / $3,142,388 = 10.25% for weekly negative score. Volume of foreclosed sales as percent of total sales is beginning to cause me some concern.

 

Newbury Place Reo III, LLC (P O Box 517, Titusville, PA 16354) to John V & Gayle S Kinder (330 West Shore, Alex., LA 71303) - Lot 1, Blk N, Martin Park Subd. (3920 Kirkpatrick St., Alex., LA 71302), $86,500.00

 

The Peoples State Bank (880 San Antonia Ave., Many, LA 71449) to Lester P Mallette (2549 Monroe Hwy., Pineville, LA 71360) - Lot 10, Blk 4, Second Ext. of Judies Subd. (1732 Birkland Dr., Pineville, LA 71360), $21,000.00

 

Federal Home Loan Mtg. Corp. to Theresa Cull (1275 Susek Dr., Pineville, LA 71360) - Part of Lot 5, Blk 6, Thornton Place Addn. (1732 Thornton Court, Alex., LA 71301), $26,500.00

 

Capital One (7933 Preston Road, Mail Stop 31063-0220, Plano, TX 75024) to Mark A Gravel Properties, LLC (P O Box 5066, Alex., LA 71307) - Lot 4, Southfield Terrace (3049 Southfield Dr., Alex., LA 71301), $87,308.00

 

Federal National Mtg. Assoc. to Capital Realty, LLC - Lot 20, Sq A, Crawford Addn., $5,950.00

 

First South Farm Credit, ACA (2308 South MacArthur Dr. ,Alex., LA 71315) to Shelby F Sommers (200 Hardwater Lake Road, Pollock, LA 71467) - 2.16 acres in Sec 28, T5NR3E, et al (244 Hwy. 1206, Deville, LA 71328), $65,000.00

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Bonnette Investment Properties, LLC (3804 McKeithen Dr., Alex., LA 71303) - 5 acres in Sec 31, T3NR3W (365 Hwy. 1199, Elmer, LA 71424), $30,000.00

 

Louisiana's delinquency fell 0.39 points on the month to 6.36%, while the U.S. delinquency rate slipped 0.59 points to 7.24%. This is the percentage of home loans more than three months past due.

 

Interest Rates: 30 year fixed is 3.86% as 3.92%the 15 year rate is 3.10%was 3.15% 5/1 ARM is 2.72% was 2.79%.

 

Mortgage of interest

 

Carlo J Spera Building Alexandria, LLC (5412 South Maple Place, Broken Arrow, OK 74011) to Bank of Oklahoma (3237 South Peoria Ave., Tulsa, OK 74105) - Lot 1, Bacon Place Addn., et al (3001 Masonic Dr., Alex., LA 71301), $525,000.00

 

Mortgage activity for the week: Total of 46 mortgage loans for volume of $6,615,924 / $3,142,388 sales volume or 2:11 ratio of loans to sales activity.

 

Rod's Notes Friday 04/13/12


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).

 

Looking for new employee at front desk: Entry level job $10 per hour includes health insurance, retirement benefits and week ends off. Send resume to pperry@noles-frye.com . See attached job description.

http://www.catholicextension.org click on 2012 Lumen Christi award and vote for Manna House only organization other nominees are individuals if Manna House makes it to the final round and right now we are number 5 they win $10,000 if they are voted #no 1 they receive $24,0000. Since 1990, the Manna House has served over 3,000,000 meals to the poor, working poor, and homeless of all ages, ethnicities and religions in the Diocese of Alexandria, Louisiana. Open 7 days a week, 365 days of the year, the Manna House partners with local hospitals, grocery stores and schools to keep the pantry stocked. Eight staff members and hundreds of volunteers from a variety of faith traditions dedicate their time for this ecumenical effort, all united in a mission to serve their community.

 

Every deal has a tale / tail:

 

Reported this sale last week but did not know the user Plaza 28, LLC Jerome Karam (934 Third St., Alex., LA 71301) to BMS Holdings, LLC Luther Mount (3599 Monroe Hwy., Kingsville, LA 71360) - Lot 1, Plaza 28 Subd., $642,000.00. Lot size is 44,050 square feet approximately 169.26 x 260.21 or $14.57 psf being first lot on left as you enter Century Tel property. Maurice Hebert was listing agent and probably selling agent (plat attached to notes). This is healthy news for 28 West where last sale in Wal-Mart parking lot to Peoples Bank was $11.50 psf. same investor who developed car wash under the water tower in Kingsville. Ron Hebert also told me he has lot 1 under contract.

 

Eugene A Ledet, Jr. & Beverly E Ledet (5994 Stonegate Dr., Alex., LA 71303) to Pita Clientele, LLC (5803 Jackson St., Alex., LA 71303) - .37 acres in Sec 8, T3NR1W (5803 Jackson St., Alex., LA 71303), $121,900.00. Property located at 5803 Jackson Street.

 

Drive by reporters what is the new “Home Store” in Ashley Furniture shopping center?

 

 

Numbers from Real Estate Industry:

16.9% retail sector vacancy rate in 4th quarter per National Association of Realtors survey (The Economist March 31st)

 

People not properties:

 

Did anyone see Elaine Setliff on Jambalaya this week? I heard she did a great job please call in if you saw the interview and let’s brag on Elaine.

Announcements, Attachments and Travels:

New Orleans on Monday first solo trip with 2 year old grandson Noles, also attend commercial awards banquet for Latter & Blum at Emerils. Bob Merrick made interesting observation stating that 2010 was not a good year for largest real estate company in Louisiana but 2011 was much better and first quarter 2012 is up 30%. Mr. Merrick said commercial real estate is turning the corner.

Attachment of Rose Steepleton and me with Tennessee Williams last week

Owner of shopping center in Pineville where Super One grocery and K-Mart has changed their name from Centro Properties to Brixmor. Centro was sold to Brixmor in June they are second largest owner of shoppig center in United States with 585 properties and 92 million square feet of gross leasable area located in 39 states. www.brixmor.com is their website.

Dined at very cool Susie Spicer new restaurant in Lake View DoMo, great food, fun local place. This week in New Orleans is French Quarter festival and week after next is the beginning of Jazz Fest.

Tuesday spent the evening at Bayou Grand Noir B&B met with one of my students and local developer in Houma La. Got up at 4:45 am at 6:00 am traffic jam with commuter traffic into Lafayette from the south.

(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. 

 

Legal recorder data: five business days from time period of April 2nd through April 9th carried over into this week because of Good Friday needed 5 days.

(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 subdivision sales compared to averages for 2008, 2009, 2010, 2011, and year to date for 2012.

 

(+1) Total weekly volume was: $5,820,560 with total of 43 transactions largest sale was just north of $500,000 with home sale in Tennyson Oaks, next largest sale was $400,000 home sale in Timberlake.

 

Random home sales for the week:

 

Sheila S Ford (517 Versailles Blvd., Alex., LA 71303) to James D & Kathy D Lowery (211 Fendler Parkway, Pineville, LA 71360) - Lot 5, St. Charles Place, Phase V (517 Versailles Blvd., Alex., LA 71303), $212,500.00. See number below positive score based on historical comparison activity.

 

2008 closed transactions were 10 with total volume of $1,385,800 at average price of $138,580 lowest price $125,000 highest $220,000

2009 closed transactions were 8 with total volume of $1,080,300 at average price of $135,037 with lowest price $119,000 highest $195,000

2010 closed transactions were 6 with total volume of $767,900 at average price of $127,983 with lowest price $125,000 highest $136,000

2011 closed transactions were 5 with total volume of $692,750 at average price of $138,550 lowest price $112,500 to $206,000

2012 year to date one sale $212,500

 

Ryan C & Jillian L Donaghey (207 Iris Park Dr., Pineville, LA 71360) to Haden B & Michelle L Hobbs (181 Woodwind Dr., Pineville, LA 71360) - Lot 87, Woodlake Subd., Phase V-B, $249,900.00. Positive score with this sale being higher than average.

 

2008 closed transactions were 10 with total volume of $2,299,500 at average price of $229,950 lowest price $190,000 highest $260,000

2009 closed transactions were 10 with total volume of $2,205,000 at average price of $220,500 with lowest price $160,000 highest $252,000

2010 closed transactions were 7 with total volume of $1,519,900 at average price of $217,128 with lowest price $195,000 highest $240,000

2011 closed transactions were 6 with total volume of $1,436,900 at average price of $239,483 lowest price $230,000 to $248,000

2012 year to date 4 sales with average price of $214,850

 

 

(+1) Lot sales: To rank a positive score for the week the market needs one sale this week we witness 4 deals.

 

Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) to Joseph C & Julie R Lamartiniere (268 Cooks Point Dr., Boyce, LA 71409) - 4.6 acres in Sec 51, T4NR3W, $60,000.00

 

New Way Investments, LLC (1150 Expressway Dr., Pineville, LA 71360) to Timothy K Lair, et al (6107 Clarks Cr, Pineville, LA 71360) - Lot 2, McRichey Subd., $20,000.00

 

Sally C Moras, et al (1551 Texas Ave., Alex., LA 71301) to Inspirational Properties, LLC (6221 Cobblestone Dr., Alex., LA 71303) - Lot 36, St. Andrews Links Estates, Phase 2, $25,000.00. This sale is too low for arms length transaction.

 

Roy O Martin Lumber Co., LLC (P O Box 1110, Alex., LA 71309) to Robert B &Jennifer S Nichols (3300 Hoyt Road, Boyce, LA 71409) - 9.852 acres in Sec 10, T4NR4W, $24,630.00

 

(+1) New Home sales: to rank positive score need one sale last week market provided two

 

Weilland Enterprises, LLC (316 Johnston St., Alex., LA 71301) to John A Duck, Jr. & Martha M Duck (302 North Thirteenth St., Oakdale, LA) - Lot 3-A, The Village of Versailles Phase II-A (701Village of Versailles, Alex., LA), $185,000.00

 

Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71486) to Anna F & Jared D Parten (5908 Hannah Dr., Alex., LA 71303) - Lot 242, Bocage Subd., Phase V (5908 Hannah Dr., Alex., LA 71303), $220,000.00

 

(-1) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave us record 7 sales with volume of $693,530 / $5,820,560 = 11.91% call it 12% of total sales. Makes me wonder have we dodged the bullet as to bank foreclosures pressing home prices down. I think we have but too many more weeks above 10% level could prove wrong.

 

LPP Mtg., Ltd. (6000 Legacy Dr., Plano, TX 75024) to Georgia R Lyles (386 Hwy. 167, Cheneyville, LA 71325) - .86 acres in Sec 6, T1NR1E (386 Hwy. 167, Cheneyville, LA 71325), $36,100.00

 

Dept. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Creighton Doelling (2018 Polk St., Alex., LA 71301) - Part of Lot 6, Sq 54, Kilpatrick Addn., $21,000.00

 

Dept. of HUD (1670 Broadway St., 21st Floor, Denver, CO 80202) to Brain C Register (1482 Booker Loop, Mansfield, LA 71052) - Tract in Sec 25, T4NR4W, $58,780.00

 

Federal Home Loan Mtg. Corp. (5000 Plano Parkway, Carrollton, TX 75010) to Rantan Properties, LLC (411 Vickie Lane, Alex., LA 71303) - Part of Lots 22 & 23, Blk A, L E Deselle Subd. (4107 Coliseum Blvd., Alex., LA 71303), $89,900.00

 

Deutsche Bank, et al (888 East Walnut St., Pasadena, CA 91101) to Joseph E Garrison, Jr. & Jacqueline D Garrison (4830 Florida Dr., Pineville, LA 71360) - Tract in Sec 39, T5NR1W, et al, $90,000.00

 

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) - Lots 1-6, 10-13, 17 & tract A, Belle Chase Subd., $376,750.00. D & J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) to Sabine State Bank (3925 Jackson St., Alex., LA 71303) - Lots 1-6, 10-13, 17 & tract A, Belle Chase Subd., $381,571.85

 

The Peoples State Bank (880 San Antonia Ave., Many, LA 71449) to Lester P Mallette (2549 Monroe Hwy., Pineville, LA 71360) - Lot 10, Blk 4, Second Ext. of Judies Subd. (1732 Birkland Dr., Pineville, LA 71360), $21,000.00

 

What does a sale to Fannie Mae mean to investor looking at foreclosed properties?

 

Bank of America to Federal National Mtg. Assoc. - Lots 1 & 2, Sq 22, West Alex. Addn. (1502 Levin St., Alex., LA 71301), $32,000.00

 

Bank of America to Federal National Mtg. Assoc. - Lot 56, Whispering Pines Subd. (325 Lakeridge Trail, Pineville, LA 71360), $82,334.00

 

Wells Fargo Bank to Federal National Mtg. Assoc. (P O Box 650043, Dallas, TX 75265) - Lot 74, Westwind Subd., $104,667.00

 

Interest Rates: 30 year fixed is 3.89% as 4.03%the 15 year rate is 3.13%was 3.25% 5/1 ARM is 2.77% was 2.85%.

 

Mortgage activity for the week: 53 closed mortgage loans in past 5 business days with volume of $8,068,953 with closed sales of $5,820,560 = 1.39 ratio of mortgages to sales.

 

Rod's Notes For Wednsday 04/04/2012


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).

 

Every deal has a tale / tail:

 

Ken Moran Holdings, LLC (P O Box 1386, Alex., LA 71309) to Yahweh, LLC (5015 Hwy. 71, Tioga, LA 71477) - 27.74 acres in Sec 4, 5, & 6, T5NR2W (7225 Hwy. 1 North, Boyce, LA 71409), $1,527,000.00. Loan on this transaction: Yahweh, LLC. James Greer and Richard Kyle  (1423 Lee St., Alex., LA 71301) to Sabine State Bank (P O Box 670, Many, LA 71449) - 27.74 acres in Sec 4, 5, & 6, T5NR2W (7225 Hwy. 1 North, Boyce, LA 71409), $1,295,500.00.

 

Town Talk highlights April 3, 2012 regard this property:

  1. 27.75 acres, 4,000 seat arena, 200,000 square feet
  2. Ken Moran paid $2,900,000 in 2004
  3. Donahue Family church placed under contract for $4.85 with $800,000 non refundable down payment
  4. Dr. John R. Berry open entertainment venue in 1999 with mascot name Lasseaux
  5. Opened in 2001 and was 90% complete and bank foreclosed in 2001

 

Audience is invited to call and give us your best ideas for the use of the property.

 

Plaza 28, LLC Jerome Karam (934 Third St., Alex., LA 71301) to BMS Holdings, LLC Luther Mount (3599 Monroe Hwy., Kingsville, LA 71360) - Lot 1, Plaza 28 Subd., $642,000.00. Lot size is 44,050 square feet approximately 169.26 x 260.21 or $14.57 psf being first lot on left as you enter Century Tel property. Maurice Hebert was listing agent and probably selling agent (plat attached to notes). This is healthy news for 28 West where last sale in Wal-Mart parking lot to Peoples Bank was $11.50 psf.

 

1106 Main Street, LLC (1715 England Dr., Alex., LA 71303) to LJF Investments, LLC (56 Mineola Ave., Roslyn, NY 11576) - Lot 7, Sq 2, O'Neals Subd., $1,278,700.00. Dollar General on Main Street Pineville. Greg Thompson is agent with NAI Latter & Blum and he handled both sides of this transaction.

 

Best Buy to close 50 stores: My editorial comment is I feel certain Alexandria Commons is not on that list. March 30th Wall Street Journal article states that this category killer is moving away from big box where some of their stores are 58,000 sf. Alexandria store is 32,000 sf. They will not only close 50 stores but plan to “test remodel stores in San Antonio and Minneapolis. They will lay off 400 workers and move to trim $800 million in operations cost. Next we will see hundreds of smaller stores selling mobile phones. This is move to compete with Apple Inc.’s fast-growing gadget stores.

 

Speaking of cell phones Americans lost $30 billion worth of cell phones last year. On average consumers lost their phones once a year. Source for this trivia was “The Week” magazine.

 

Sears looking to sell Lands’ End business third broker Mark Hebert of Baton Rouge has Sears former warehouse locally on Industrial Blvd listed for sale. Property is 50,000 sf and approximately 4 acres of land

 

People not properties:

Karl Landreneau, NAI/Latter & Blum's director of commercial sales and leasing for the Baton Rouge, New Orleans, and Alexandria markets, was recently awarded the NAI Global Chairman's Award, which recognizes the NAI business director who best exemplifies the "right stuff" as it relates to the effective management of an NAI office, including leadership, business generation, service delivery, participation in enterprise initiatives and integration of NAI tools and resources throughout the firm. Landreneau says the acquisition of NAI Global by C-III Capital Partners, completed in January, brings added resources and business to the local office. He is currently first vice president of the national Certified Commercial Investment Member Institute, and will serve as the institute's president in 2014.

Priscilla Perry my assistant completed her first commercial deal in cross sale with Paul Stich on $27,500 warehouse deal on Culpepper. After closing she comes in to tell me the buyer was my tenant at Glass shop located at 3219 Masonic. This space is now for lease.

Jimmy Deramus second season of Cajun Pawn Stars.

Announcements, Attachments and Travels:

I took trip to Monroe Tuesday to conduct workshop for John Rea’s commercial team and see prospect about buying commercial tract in Alexandria. Notice three things about the drive (1) this is a beautiful state (2) highway is 4 lane all the way and (3) great cell phone connection. Great new restaurant down town Monroe called Cotton beautiful old building and the food is just great. Maurice “Mo” Andrade formerly with Emeril’s is general manager ask for Steven for your server and forgot to mention Corey Bahr is the chef.

 

Monroe certainly appears to have more residential new construction, and architecture for their new buildings is really sharp looking.

 

I attended “Energy workshop” in Shreveport, with member of Commerce and Industry Board from Alexandria, La. . When Chesapeake Oil public relations director Jeff Holladay was speaking he made mention of Sundrop Fuels and I was the only person to applaud.  

 

Mykoff absorption report did not have time to digest the numbers but 5.38 total month supply cannot be correct. Will ask Alvin about the numbers and have full report next week.

.

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. 

 

(+3) Legal recorder data: five business days from time period of March 26th through March 30th.

(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 subdivision sales compared to averages for 2008, 2009, 2010, 2011, and year to date for 2012.

 

(+1) Total weekly volume was: Volume was nearly  $10,000,000 or $9,883,155 to be exact with 55 transactions and two deals above $1,000,000.

 

(0) Random home sales for the week: one sale was positive and one sale negative

 

Jonathan P Firment (154 Deerbrook Trail, Pineville, LA 71360) to RWW Properties, LLC (5801 Masonic Dr., Alex., LA 1301) - Lot 34, Aurora Park Subd. (125 Arlington Dr., Pineville, LA 71360), $75,000.00. Negative score see sales below.

 

2008 sales totaled 5 with average price of $96,080 the lowest price was $79,000and the highest price was $104,000

2009 sales totaled 1 with average price $115,000

2010 sales totaled zero

2011 sales totaled zero

2012 one sale year to date at $75,000

 

Blake K & Lindsay S Cooper (184 St. Andrews Dr., Alex., LA 71303) to Russell A & Stacy L Byrd (P O Box 3842, Pineville, LA 71360) - Lot 29, Paradise Point Subd. (4808 Paradise Point Dr., Ball, LA 71405), $212,000.00. Positive score sale is very near previous year’s average.

 

2008 sales totaled 3 with average price of $213,500

2009 sales totaled zero

2010 sales totaled 4 with average price of $211,250

2011 sales totaled 1 with average price of $218,500

2012 sales year to date is one at $212,000

 

(+1) Lot sales: : To rank positive score need one sale market gave us 3 sales for positive score.

 

B D R Properties, LLC (41 Vickie Lane, Alex., LA 71303) to Jessica N Raila (41 Payne St., Pineville, LA 71360) - Lot 34, Beau Chene Subd., Phase II (170 Fox Chase Dr., Pineville, LA 71360), $27,500.00. Something is wrong with this lot or this sale past 17 lots sold at an average of $37,247

 

Price Right Properties, LLC to George K & Gina L King (220 Sweet Bay Lane, Pineville, LA 71360) - Lot 11, Buckeye Ridge Subd., Phase 2, $34,900.00

 

Michael W & Michelle T Barnett, et al (18012 Monitor Ave., Baton Rouge, LA 70817) to Robin W & Terri L Hunnell (11 Grayson Marler Road, Hineston, LA 71438) - 10.24 acres in Sec 2, T3NR4W, $60,000.00

 

(-1) New Home sales: to rank positive score need one sale last week market provided zero

 

(+1) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Jody K & Dana C Mays (1524 Palmer Chapel Road, Pineville, LA 71360) - 4.715 acres in Sec 13, T3NR1E, $400,000.00 / $9,883,155 = 4.04%

 

Louisiana's delinquency fell 0.39 points on the month to 6.36%, while the U.S. delinquency rate slipped 0.59 points to 7.24%. This is the percentage of home loans more than three months past due.

 

Lender sale to Freddie Mac what does that mean to the market?

 

J P Morgan Chase Bank (415 Vision Dr., Columbus, OH 43219) to Federal National Mtg. Assoc. (2001 Bryan Tower, Suite 1200, Dallas, TX 75201) - Lot 146, Sherwood Forest (161 Robin Hood Road, Dry Prong, LA 71423), $238,000.00

 

Interest Rates: 30 year fixed is 3.98% as 4.02%the 15 year rate is 3.22%was 3.24% 5/1 ARM is 2.83% was 2.88%.

 

Mortgage activity for the week: Total mortgage loans were 85 loans with volume for the week of $15,140,076 / sales volume of $9,883,155 = 1:53 to 1:00 ratio. This is the largest loan volume year to date.

 

 

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