Rod's Notes Archives for 2012-05

Rod's Notes For Wednesday 05/30/12


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).

 

Construction staging new apartments at Masonic and Horseshoe: has begun you can see where they are beginning to secure job site and survey the layout. Masonic 165, LLC (204 Whaley Road, Forest Hill, LA 71430) to Mason Estates, LLC (275 Glen Lake Drive NW, Atlanta, GA 30327) - 6.97 acres in Sec 4, T3NR1W, $1,300,000.00

 

JEC Real Estates Investments, LLC (3003 Old Forge Dr., Suite B, Baton Rouge, LA 70808) to KDBPG, LLC Michael Kimble and Robert Gunby(10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) - .74 acres in Sec 7, T4NR1E, $475,000.00, this is $14.74 psf or $641,891 if they tear building down.. This is the former Hickory Hut at corner of Rainbow and highway 28 east. Looks like new restaurant to me and I think this is Matt Ritchie’s sale. If you miss the show Matt plans to tell me this is O’Riley Auto Parts new store.

Loan for this deal KDBPG, LLC (10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) to Sterling Bank (P O Box 460, Poplar Bluff, MO 63901) - .74 acres in Sec 7, T4NR1E (3002 Hwy. 28E, Pineville, LA 71360), $870,000.00

 

Plaza 28, LLC (308 W Parkwood, Ste 104-A, Friendswood, TX 77546) to A&M Holdings, LLC Ravinderjit Brar (224 Links Dr., Alex., LA 71303) - Lot 2, Plaza 28 (6501 Coliseum Blvd., Alex., LA 71303), $815,000.00, this lot was 1.34 acres this $13.96 psf the previous sale was smaller parcel went for closer to $14 psf. Keep in mind pad location at Wal-Mart next to sonic sold for $11.87 psf to Peoples Bank just few years back. $14 psf is almost $610,000 per acre. This was Ron Hebert’s sale, Maurice told me he was on the sidelines for this one.

 

Life Center, LLC Dr. Howard Wold (605-B Medical Center Dr., Alex., LA 71301) to White Oak Centre, LLC Dr. Bill Patty, Dr. Michael Redmond,Dr. Thomas Norton, Dr. Karen Russo, and DR. Eric Reish (231 Windermere Blvd., Alex., LA 71301) - Tract in Sec 28, T1NR4W, $527,315.62 total of 84,370 square feet or $6.25 psf for 1.94 acres fronting Windermere 210.56’ with 420’ depth.

 

New Dollar General @ Lee and Bringhurst developer is Ratcliff facilities and seller is Washington Square LLC nice corner property for only $115,000.

 

Stanley W Young, et al (P O Box 302, Forest Hill, LA 71430) to Elizabeth A Welch (P O Box 368, Forest Hill, LA 71430) - 38.07 acres in Sec 24, T1NR2W, et al, $670,000.00. Good sign to see nursery property sell at any price. This is a segment of the real estate business that has not been active. The acreage price of $17,632 does not tell you much as there was certainly some improvements that would cause an adjustment to land allocation value

 

The Kings of Columbus  at 3517 England Drive sold their land and building  to Community Baptist Church. Columbian Catholic Association (P O Box 7696, Alex., LA 71315) to Garden of Glory Community Baptist Church (2521 England Dr., Alex., LA 71303) - 13.17 acres in Sec 13, T4NR1W (3517 England Dr., Alex., LA 71303), $300,000.00. Church currently owns property north of Enterprise and England nearing across the street from KSYL radio tower. Looks like growing church likes their location but needs larger building so they are simply moving down the street.

 

Drive by reporters help;

 

Masonic drive: right hand side going south just outside the city limits looks like commercial or industrial building under construction. What is this? 442-8255

 

New Office Building in Metroplex; need some help on who is building this office?

 

People not properties:

 

Matt Ritchie is my guest for the week he plans to correct some of my mistakes from last week and give us an update on trip to Washington DC last week for NAR meetings. Matt is President elected for LRA and first VP for CCIM, plus he knows somethings about local market that are just off my radar.

 

Barry Schaps Vice President in charge of making the $450 Million dollar bio fuel plant a reality. http://www.centrallouisiana.org/ you can register for updates on Sundrop Fuels might be an interesting way to follow their development. Zero press was in attendance at quarterly meeting where Sundrop discuss size, scope, and process of first 50 million gallons per year 87 octane gasoline refinery.

Construction Contracts: zero for the week.

Announcements, Attachments and Travels:

Startup week end June 1st through 3rd call 442-6671 if you want to participate. This is smallest market where this opportunity has been offered.

Cotile lake is the forgotten body of water in Rapides Parish took an evening board ride with friend Sunday evening and sunset was beautiful and so was the lake. Looking for home on the lake do not pass over Cotile some very nice homes and great lake closer to town with completion of work on 28 east.

(+3.75) 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 May 21st to May 25th.

 

I have eliminated the random subdivision study as one of my five food groups and now only measure 4 allowing 1.25 points for each positive score. Have also eliminated mortgage volume for the week, and will remove both of these sections from my weekly transcripts. If you were using this data please email me and if enough folks want to continue research in this category I will consider putting the data back in my notes.

 

(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 was:  45 transactions with volume of $7,083,562 great week one sale $1,300,000.

 

(+1.25) Lot sales: To rank positive score need one sale market gave us three

 

Weilland Enterprises, LLC (P O Box 12483, Alex., LA 71315) to Charles A Tucker, Jr. & Alaina M Tucker (312 Eola Dr., Alex., LA 71303) - Lot 121, St. Andrews Links Estates, Phase III (121 St. Andrews Dr., Alex., LA 71303), $33,500.00

 

Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 251, Bocage Subd., Phase V (27 Ragan Dr., Alex., LA 71303), $22,000.00

 

DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to JWT Properties, LLC (6031 Bayou Rapides Road, Alex., LA 71403) - .99 acres in Sec 17, T4NR1E, $28,000.00

 

(-1.25) New Home sales: to rank positive score need one sale last week market provided zero

 

 

(+1.25) 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 $165,150 / $7,083,562 = 2.33%

 

The Evangeline Bank (497 West Main St., Ville Platte, LA 70586) to Jerad W & Lacon P Broussard (14 Singley Road, Glenmora, LA 71433) - 8.05 acres in Sec 2, T2SR3W, $36,000.00

 

Capital One (P O Box 61540, New Orleans, LA 70161) to Cold Spring Properties, LLC (3564 Pearl, Boulder, CA 80301) - Part of Lots A & B, Villa Sites Addn. (338 Florence Ave., Alex., LA 71301), $129,150.00

 

Interest Rates: 30 year fixed is 3.79% was 3.75% the 15 year rate is 3.11% was 3.02% 5/1 ARM is 2.67% was 2.66%.

 

 

Razor’s Edge: Parting shot is what I plan to call this segment and in the future will make it my last comments of the week. This week barber shop news is too serious to take a chance on running out of time. Free junior golf lessons at Bringhurst Tuesday and Wednesday mornings 8:30 to noon starting June 5th through July 25. Ages 8-15 call Scott Brame 487-6591 or email him at scottbrame@suddenlink.net. Just wish we could get a family involved that knew something about golf. Thanks Mr. Brame.

 

Rod's Notes For Wednesday 05/23/12


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).

 

Sun rise quiz: Hay, art have you noticed give me a call if you know what I am talking about.

 

Every deal has a tale / tail: Orchard at Little Eva sells, lumber yard closes and beauty supply business moves in, new restaurant on highway 28 east, two existing business by adjacent property one of medical center expansion and the other for aftermarket in automotive business. Plus I need help on property under construction at south Masonic Drive.

 

The Orchard at Little Eva: approximately 178.22 acres sold last week to Albrittion Cattle Company for $853,920 this is $4,791.38 per acre call it $4,800. Jack Hodges was dual agent in this deal. If Jack is listening wish he would call in and tell us how many pecan trees. Jack sold Little Eva in 2010 for Gary Anderson to 7th resource LLC managed by partner Steve Couig. (head of economic development for Governor Roemer)

 

Michael R & Susan McNeal (34 Foxfire Lane, Alex., LA 71302) to Selah Beauty Corp. No Jin Park (4011 Lakeside Dr., Alex., LA 71302) - Part of Lot 16, Sec 1, Willow Glen Subd., et al, $300,000.00. The old McNeal Lumber yard next to Trade School will now be a beauty supply retail and wholesale facility open by industrious Korean immigrants. Paul Stich was on listing side and Jimmy Redfearin represented the buyer.  

Loan for this deal  Selah Beauty Corp. (4011 Lakeside Dr., Alex., LA 71302) to The Evangeline Bank (P O Box 346, Ville Platte, LA 70586) - Part of Lot 16, Sec 1, Willow Glen Subd., et al (4011 Lakeside Dr., Alex., LA 71302), $654,187.00

 

Mangel & Treadway, LLC Steve Mangel and Jerry Treadway(6031 Bayou Rapides Road, Alex., LA 71303) to Ray Hyde Paint & Body Works, Inc. (5716 Gene Ball Dr., Alex., LA 71302) - Part of Lot 1, Willow Glen Land Co. Subd. (5644 Gene Ball Dr., Alex., LA 71302), $80,000.00. Always good news to see existing business expanding. I think Matt Ritchie’s company handled this.

 

JEC Real Estates Investments, LLC (3003 Old Forge Dr., Suite B, Baton Rouge, LA 70808) to KDBPG, LLC Michael Kimble and Robert Gunby(10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) - .74 acres in Sec 7, T4NR1E, $475,000.00. This is the former Hickory Hut at corner of Rainbow and highway 28 east. Looks like new restaurant to me and I think this is Matt Ritchie’s sale.

Loan for this deal KDBPG, LLC (10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) to Sterling Bank (P O Box 460, Poplar Bluff, MO 63901) - .74 acres in Sec 7, T4NR1E (3002 Hwy. 28E, Pineville, LA 71360), $870,000.00

 

Life Center, LLC Dr. Howard Wold (605-B Medical Center Dr., Alex., LA 71301) to White Oak Centre, LLC Dr. Bill Patty, Dr. Michael Redmond,Dr. Thomas Norton, Dr. Karen Russo, and DR. Eric Reish (231 Windermere Blvd., Alex., LA 71301) - Tract in Sec 28, T1NR4W, $527,315.62 total of 84,370 square feet or $6.25 psf for 1.94 acres fronting Windermere 210.56’ with 420’ depth.

 

Drive by help on Masonic drive: right hand side going south just outside the city limits looks like commercial or industrial building under construction. What is this? 442-8255

 

People not properties:

 

Thanks to men and women who have worn our country’s military uniform and for the personal risk they take to make our country so very special. To the families that are separated during deployment and love ones who visit the cemetery this week end our prayers are with you.

 

Candice Skinner young Realtor from Leesville was selected by National Realtors Association as “Top 30 under 30” See attached story from Jeff Matthews (can’t read TT on line but you can read my attachment, hope they do not sue the station) Reminder we interviewed Rob Hatchett president of (cry-Like realty) who won this award couple years back. Rob is still young and still very impressive.

 

John W & Janet M Moore (281 Coleman Loop, Homes, LA 71040) to Philip A Cole, II & Kimberly P Cole (6520 Tennyson Oaks Lane, Alex., LA 71301) - Lot 38, Tennyson Oaks Subd. (6520 Tennyson Oaks Lane, Alex., LA 71301), $421,000.00

 

Barry Schaps Vice President in charge of making the $450 Million dollar bio fuel plant a reality. http://www.centrallouisiana.org/ you can register for updates on Sundrop Fuels might be an interesting way to follow their development. Zero press was in attendance at quarterly meeting where Sundrop discuss size, scope, and process of first 50 million gallons per year 87 octane gasoline refinery.

 

Thanks to the horse, I’ll have another for allowing racing fans to dream about a “triple crown” champion. We will find out on June 9th if Affirm from 1978 will no longer be the last horse to win the “triple crown”

 

Olympic torch has begun it’s run to 2012 Olympics and I would like to thank Cenla Broadcasting for choosing our daughter to carry the torch for Atlanta Olympics. Share buy the torch story and Okinawa story.  

 

Razor’s Edge: Parting shot is what I plan to call this segment and in the future will make it my last comments of the week. This week barber shop news is too serious to take a chance on running out of time. Free junior golf lessons at Bringhurst Tuesday and Wednesday mornings 8:30 to noon starting June 5th through July 25. Ages 8-15 call Scott Brame 487-6591 or email him at scottbrame@suddenlink.net. Just wish we could get a family involved that knew something about golf. Thanks Mr. Brame.

Construction Contracts: City of Alex. to Progressive Construction Co., LLC - Masonic Drive @ Horseshoe Dr. Intersection Improvements, $236,342.15

Announcements, Attachments and Travels:

Startup week end June 1st through 3rd call 442-6671 if you want to participate. This is smallest market where this opportunity has been offered.

La. Real Estate Commission Report

Licensee counts for past 6 years: in past 7 years there has been net loss of 4,361. Currently 3,359 have inactive license active sales license is 9,088 for state of Louisiana.

2007               22,712

2008               22,189

2009               21,225

2010               19,784

2011               19,215           

2012               18,351                       

(+3.75) 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 May 14th to May 18th. I have eliminated the random subdivision study as one of my five food groups and now only measure 4 allowing 1.25 points for each positive score. Have also eliminated mortgage volume for the week, and will remove both of these sections from my weekly transcripts. If you were using this data please email me and if enough folks want to continue research in this category I will consider putting the data back in my notes.

 

(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.

 

Total weekly volume was:   $5,509,827 even with 38 sales this test rates negative score especially with 3 sales under $5,000. Good week but negative score I am reaching for 40 closed deals.

 

(-1.25) Lot sales: To rank positive score need one sale market gave us zero sales for the week, hence negative score of 1.25

 

(+1.25) New Home sales: to rank positive score need one sale last week market provided

 

Thomas Bolton Properties & Construction, LLC (4821 Porter Circle, Alex., LA 71303) to Emily D Tracy (5842 Hannah, Alex., LA 71303) - Lot 240, Bocage Subd., Phase V (5842 Hannah Dr., Alex., LA 71303), $220,000.00

 

V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Robert A & Becky D Burke (208 West Bronson Dr., Alex., LA 71301) - Lot 356, West Pointe on the Bayou, Phase XII, $282,000.00.

 

Commerce department said construction starts on new housing jumped 2.6% in April to an expected annual start of 717,000

 

The Linc Group, LLC (P O Box 4769, Pineville, LA 71360) to Erin L Duplechien (3018 Wesley Circle, Woodworth, LA 71485) - Lot 134, Country Club Place Subd., $257,000.00

 

(+1.25) 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 4 with total volume of $311,400 / $5,509,827 = 5.65%

 

U S Bank to Blackmon & Clanton Developments, LLC (8400 Hwy. 28 East, Pineville, LA 71360) - Lot 3, Sq 4, North Highland Subd., Part 1 (1807 Georgia Dr., Pineville, LA 71360), $44,000.00

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Thomas Wells (1723 Donegal Dr., Alex., LA 71301) - Lot 30, Sq C, Roy O Martin Subd., et al (3120 Houston St., Alex., LA 71301), $22,000.00

 

Dept. of HUD to Millie D Laird (4209 Pecan Dr., Alex., LA 71302) - Lot 3, Blk D, Thiels Place Addn., Ext. # 1, $95,500.00

 

Credit Savers, LLC (P O Box 12354, Alex., LA 71315) to Don W Reed, Jr. (165 Sequoa St., Chester Gap, VA 22623) - Tract in Sec 1, T1NR1W (2911 Hwy. 112, Lecompte, LA 71346), $149,900.00

 

At the end of March 11.8% of all mortgage loans nationwide are 30 days past due or in foreclosure this is better than peak of 14.7%. some 4.4% of all mortgages are in foreclosure down only slightly from 4.5%

 

Interest Rates: 30 year fixed is 3.79% was 3.75% the 15 year rate is 3.11% was 3.02% 5/1 ARM is 2.67% was 2.66%.

Investor sales

 

Dillon W & Sara R O'Brien (5999 Fleming Road, Atwater, CA 95301) to Lizbeth Properties, LLC William and Elizabeth Carstens(1438 Dorchester Dr., Alex., LA 71301) - Lot 17 & part of 16, Sq 2, Highland Park Addn. (2917 Dawkins St., Alex., LA 71301), $113,500.00

 

James W Brown, Jr. (293 Rosalie Road, Alex., LA 71302) to Mark A Gravel Properties, LLC (P O Box 5066, Alex., LA 71307) - Lots 9 & 10, Blk 6, Shirley Park Addn., et al (1904 Andrews St., Alex., LA 71301), $75,000.00

 

Triad Dominion Equities, LC (1112 E Copeland, Suite 230, Arlington, TX 76011) to WFH Consulting, LLC (1219 Wyndham Hill Lane, Southlake, TX 76092) - Part of Lots 160 7 161, 2nd Rev., Ext. # 4, Phase I, Kellyland, $33,000.00

 

Brenner L Marshall, Jr., et al (6498 Old Baton Rouge Hwy., Alex., LA) to Hyde's Enterprises, Inc. Jamie Hyde (294 Henry Road, Colfax, LA 71417) - Part of Lot 2, Blk 3, Winn Addn., et al (2405 Taft St., Alex., LA 71301), $35,750.00

 

Price Co Development Corp. (2002 Melrose St., Pineville, LA 71360) to James E Stewart, Jr. 7 Sherry R Stewart (2190 Coulee Crossing, Woodworth, LA 71485) - 5.02 acres in Sec 18, T3NR1W (725 Hwy. 165 S, Woodworth, LA 71485), $111,000.00

 

Rod's Notes For Wednesday 05/16/12


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:

 

Mentioned sale last week: Luneau property south of LSUA sold last week Winston Roberts was listing agent and Craig Sikes selling agent. This is an expansion of existing steel fabrication business and their bank is Evangeline.  Blackmon & Bain Properties, LLC Jay Blackmon and Brian Bain (8400 Hwy. 28 E, Pineville, LA 71360) to The Evangeline Bank (P O Box 12900, Alex., LA 71315) - Tract in Sec 50 & 52, T2NR1E (8229 Hwy. 71 South, Lecompte, LA 71346), $650,000.00

 

CJR Properties, LLC Carole and Jerry Rainey (8040 Hwy. 28 E, Pineville, LA 71360) to Security Metal Roofing, LLC Jerry Rainey (6317 Masonic Dr., Alex., LA 71301) - Tract in Sec 43, T3NR1W for 10 years @ $9000 per month. Lease is not what we term as “arm’s length”

 

James M & Tracey L Passman (3037 Marye St., Alex., LA 71301) to Henry G Walker, Jr. - Lot F, Wilshire Park (3800 Parliament Dr., Alex., LA 71303), $221,813.00. Greg purchased partner’s 50% interest.

 

Johnny’s Pizza coming to Skyline Plaza on 28 east. Spencer Marks is owner, and this lease only leave 2,500 vacant square feet.

 

Family Dollar Stores of LA, Inc. (P O Box 1017, Charlotte, NC 28201) to Cole FD Portfolio I, LLC (2325 East Camelback Road, Suite 1100, Phoenix, AZ 85016) - .715 acres in Sec 6, T4NR1W, No amount given. Broadway and Third

 

Richard J & Mary Heath to D'Argent Development, LLC (1460 Centre Court, Alex., LA 71301) - Tract in Sec 19, T1NR1W, $232,500.00. Three acre parcel of property on Earl Linzay Road.

 

James E Stewart, Jr. & Sherry R Stewart (2190 Coulee Crossing, Woodworth, LA 71485) to Jerry L Brown (323 Browns Lane, Effie, LA 71331) - Lot 27, Adelia Place Addn., et al (2006 Rapides Ave., Alex., LA 71301), $100,000.00. This is at corner of Rapides and Kathryn Street near Bolton Avenue. Think this is the antique store.

 

Razor’s Edge: “a little off the top” or “rusty razor”

 

Huey Long reported to Senate Committee on highway priorities the following: “The most important highway in the State is the run in front of your property.” Same thing applies to home sales in past 30 days three new neighbors on Wendover Blvd in Charles Park. Please call in if two or more homes have sold on your street in past 60 days.

 

Larry the other barber came up with good idea for 50,000 square foot warehouse. Suggest I look at Potato factory in Marksville that Paul Maxwell had listed. 

 

People not properties:

Jim Clinton with CLEDA will be our guest to talk about special week end for new business startups.

 

Paul Stich CCIM at NAI Latter & Blum is moving to Baton Rouge, his wife Nancy still with Capitol One don’t sell your stock.

 

Wayne Denley good job on second annual Dragon Boat races

 

Angela Stewart was in Thailand for international Rotary convention to receive award of local club. In the 34,000 Rotary clubs only 3 with membership above 100 received this award of excellence.

 

Paul Maxwell is beginning new career with Ratcliff development but will still retain his license with Noles-Frye and jointly market current and new listings with various agents at Noles-Frye. Paul and Ratcliff family are my good friends and I predict there will be serious value to their working together. 

 

Bruce Britt : if you attended “hanger party” give us a call and tell me how clean Bruce’s hanger and air plane is.

Announcements, Attachments and Travels:

Mykoff absorption report for this month and previous time periods is attached. Absorption number for the month is 7.11. This is same time the White Sox start their evening home games.

Full market 633 inventory 89 sold = 7.11 month absorption with 121 new homes on market. Net increase of 31 properties on market.

Above $400,001 inventory 25 one sold 25 month absorption with 2 new properties on the market

$250,001 to $400,000 inventory 68 eight sold = 8.5 absorption with 10 new properties on the market

$150,001 to $250,000 inventory 170 with 32 sales = 5.13 absorption with 38 new properties on the market

Under $150,000 inventory 370 with 48 sales = 7.71 absorption with 71 new properties

(+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 May 7th through May 11th

(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:  $4,931,417 with 47 transactions rates positive score for the week.  

 

Census Bureau said, “homeownership rates for America is now at 65.4% same level as in early 1997 or at 15 year low” At our high point of percent of home ownership in this country 69.2% of folks were homeowners It is estimated that  $74.6 million own their home today.

 

305 miles is the median distance between home owner’s primary residence and their second home this is 19% decline. Appears folks are choosing second home closer to home. www.homeaway.com website for vacation rentals discovered in their survey most popular vacation rentals are within 4 hour drive of the main house. Also trend is different older buyers are buying based more on transition to future retirement.  Values of vacation homes is continuing to decline median sales price fell 19% between 2010 and 2011.

 

(-1) Random home sales for the week: Considering removing this category from REI would like some email input from listeners

 

Timothy R & Kimberly C Rutledge (5019 Norman Way, Springhill, TN 37174) to Nicole C Malone (3216 Madonna Dr., Alex., LA 71301) - Lot 7, Sq 2, Mattie O Ball Addn., $124,900.00. This sale rates negative score lower than 4 of 5 past years. Nearly $2,000,000 in volume ($1,979,993) with 14 sales average $141,428.

 

2008 total sales were 3 the average price of $163,333

2009 total sales were 2 the average price of $162,497

2010 total sales were 2 the average price of $187,500

2011 total sales were 5 the average price of $98,200

2012 total sales were 2 the average price of $149,950

 

Estates of James B Smith, Jr. & Salome K Smith (3017 Carey Ave., Cheyenne, WY 82001) to John S James (5217 St. Germain Blvd., Alex., LA 71303) - Lot 4, Blk 1, Clermont Estates, $225,000.00 sales rates negative score. Total sales since 2008 is 13 with average price of $244,288

 

2008 total sales were 3 the average price of $266,166

2009 total sales were 3 the average price of $249,166

2010 total sales were 2 the average price of $251,125

2011 total sales were 3 the average price of $214,166

2012 total sales year to date are 2 with average price of $242,500

 

(+1) Lot sales: To rank positive score need one sale market gave us two one in Lake District and one Rue Left Bank.

Glenn H & Jill J Curtis (409 Vickie Lane, Alex., LA 71303) to Jeffery K & Rita M Christian (20 Belle Trace, Lecompte, LA 71346) - Lot 23, The Lake District, Phase 1 (4704 Christopher Place, Alex., LA 71303), $105,000.00. Rumor from local builder application fee $10,000 for review committee and three homes with cracker slab. Not true, just not true. Tell you what is true a few builders have privately been informed they are not approved to build at the Lake District. These are builders telling prospects untrue rumors about a development which is easier than saying I am not an approved builder for this development.

 

Thomas A Bolton, Jr. & Golden C Bolton (4821 Porter Circle, Alex., LA 71303) to Jamar L & Jennifer A Gailes (127 Pecan Row Lane, Alex., LA 71303) - Lot 2A, The Rue Left Bank Subd., Phase II (3808 Rue Left Bank, Alex., LA 71303), $65,000.00

 

(+1) New Home sales: to rank positive score need one sale last week market provided 3 all in Bocage Subdivision. Look for construction on final 25 lots in this subdivision soon.

 

Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71486) to Roberta L Holmes (33 Ragan Dr., Alex., LA 71303) - Lot 248, Bocage Subd., Phase V (33 Ragan Dr., Alex., LA 71303), $212,000.00

 

V&V Builders, LLC (P O Box 12846, Alex., LA 71315) to Patrick H Grimes & Amy E Perry (2004 Roanoke St., Alex., LA 71301) - Lot 224, Bocage Subd., Phase V (5937 Hannah Dr., Alex., LA 71303), $196,690.00

 

V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Sheila S Ford (5926 Hannah Dr., Alex., LA 71303) - Lot 245, Bocage Subd., Phase V, $218,000.00

 

(+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 4 with volume of $187,916 / $4,931,417 = 3.81% which rates positive score for the week.

 

Capital One (7933 Preston Road, Mail Stop 31063-0220, Plano, TX 75024) to Good Family Properties, LLC (172 Adams Path, Pineville, LA 71360) - Part of Lots 23 & 24, Barrett Subd. (114 Reagan St., Pineville, LA 71360), $32,000.00

 

U S Bank (2711 N Haskell Ave., Suite 100, 15th Floor, Dallas, TX 75204) to KPRO Enterprises, LLC (5411 Coliseum Blvd., Alex., LA 71303) - Part of Lot 60, Grundy Cooper Subd. (5105 Sarah St., Alex., LA 71301), $88,916.00

 

Wells Fargo Bank to 3H Investments, LLC (2109 North MacArthur Dr., Alex., LA 71303) - Lot 9, Blk I, Deerfield Subd., 2nd filing (6132 Dixie Lane, Alex., LA 71301), $59,000.00

 

Sec. of Veterans Affairs (810 Vermont Ave., Washington, DC 20420) to 3H Investments, LLC (2109 N MacArthur Dr., Alex., LA 71303) - Part of Lots 20 & 21, Lakeview Addn. (505 Grant St., Pineville, LA 71360), $8,000.00

 

Interest Rates: 30 year fixed is 3.76 was 3.81% the 15 year rate is 3.02% was 3.02% 5/1 ARM is 2.68% was 2.73%.

 

Mortgage of interest: Two mobile home parks with loans above $500,000 and steel fabrication facility.

 

Mossy Oak Mobile Home Park, LLC Glenda and Charles Olson (8782 Hwy. 1200, Boyce, LA 71409) to The Evangeline Bank (3355 Masonic Dr., Alex., LA 71315) - Tract in Sec 13 & 79, T4NR1W (4207 N Bolton Ave., Alex., LA 71315), $573,076.40

 

Beam Investments, LLC Dr Edan Moran  (3210 Parkway Dr., Alex., LA 71301) to Sabine State Bank (3925 Jackson St., Alex., LA 71303) - 12.671 acres in Sec 88, T4NR3W, $600,000.00

 

Rod's Notes For Wednesday 05/09/12


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:

 

Raphael Luneau (5032 Old Marksville Hwy., Pineville, LA 71360) to Blackmon & Bain Properties (8400 Hwy. 28 East, Pineville, LA 71360) - Tract in Sec 50 & 52, T2NR1E (8229 Hwy. 71 South, Lecompte, LA 71346), $650,000.00. Craig Sikes was selling agent and Winston Roberts was selling agent.

 

Barth & Grimes Properties, LLC (9161 Hwy. 28 E, Pineville, LA 71360) to Daenen Properties, LLC (127 Holly Moore Dr., Pineville, LA 71360) - Tract in Sec 35, T5NR1E, $500,000.00

 

Gates, LP (P O Box 12007, Alex., LA 71315) to Ritchie Properties, LLC (1268 Dorchester Dr., Alex., LA 71303) - Lot 3-A, Wilshire Medical Center (3508 Parliament Court, Alex., LA 71303), $93,000.00

 

England Air Park activity:

 

Jody & Debora Boudreaux (427 Moss Point Dr., Boyce, LA 71409) to The England Economic & Industrial Development District - 3 acres in Sec 11, T4NR2W, $69,000.00

 

Gary J Guillory (385 Moss Point Dr., Boyce, LA 71409) to The England Economic & Industrial Development District - 4.6 acres in Sec 11 & 73, T4NR2W, $177,000.00

 

Investor’s llc activity:

 

James M & Brenda S Herod (2217 Ellis Dr., Flower Mound, TX 75028) to TRI V Property Group, LLC (1223 MacArthur Dr., Alex., LA 71303) - Lot 11, Blk 4, Good Earth Subd., Tract IV (78 Ragan Dr., Alex., LA 71303), $65,800.00

 

Funmar, LLC (3750 Hwy. 121, Boyce, LA 71409) to Renees Point, LLC (62 Caroline Dr., Boyce, LA 71409) - 12 acres in Sec 48, T4NR3W (3750 Hwy. 121, Boyce, LA 71409), $125,000.00

 

Tina R Teal, et al (174 Philadelphia Road, Lot 27, Pineville, LA 71360) to 3H Investments, LLC (2121 North MacArthur Dr., Alex., LA 71301) - Part of Lots 8 & 9, Sanson Subd. (1510 Shannon Road, Alex., LA), $60,000.00

 

Razor’s Edge: “a little off the top” or “rusty razor”

 

Saturday dropped in to have Bobby Shaw trim my beard, the next customer in line was finance director at Union Tank car. I asked how many rail cars UTLX built last month. Quiz for our listeners after three calls whoever is closest without going over is the winner.

 

People not properties:

 

Jim Donelon commissioner of insurance spoke to Rotary club and reminder audience to file for refund on additional premium paid on fair plan portion of your insurance.

 

Kelly Ducote listed and sold home across the street from us in Charles Park. We now have great new neighbors, young people with children. Kelly sent me an announcement card that house was sold on Wendover with my name and address written on post card. It gave me the impression of kind of a “in your face” message. We are thrilled to have two new neighbors on our street and it is cool not to own a real estate company so when one of the good competitors list your neighbor’s home it’s not an issue. Just glad to be surrounded by young couples with children we can watch grown up.

Construction Contracts:

State of LA, Military Dept. to James A Decker Builders, Inc. (202 Brooks St., Pineville, LA 71360) - Camp Beauregard Pool Repairs & Upgrades, $59,464.00

Announcements, Attachments and Travels:

Mykoff absorption report for this month and previous time periods is attached. Absorption number for the month is 7.11. This is same time the White Sox start their evening home games.

Weird and unbelievable leased a car in Houston airport and will never guess what I heard on the radio. Our radio show, it appears someone burned it on a CD and left it in the car. How weird is that?

On way back from playing Poker in Marksville stopped at “Night club on highway 71 south, next door to Medical Express. Metal building painted red and is behind building I have for sale. First thing I noticed is the high end cars in the parking lot. Inside was huge, well decorated, and full of nicely dressed young people. It was 9:30 pm past my bed time so I did not stay to mingle and dance. Just wanted to take a look and I was impressed. 

(+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 30th through May 4th

 

(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 53 with total volume of 3.79%

 

4Q and 2011 Year-End Overview Statewide Home Sales Increase 4.8 Percent in 2011

Louisiana home sales rose 4.8 percent in 2011, as the state’s residential real estate market continued significant positive momentum throughout the second half of the year. For the fourth quarter, sales increased 11.7 percent statewide. Total sales volume in Louisiana rose 3.4 percent for the quarter and 2.9 percent for the year. The nearly 12 percent increases in home sales across the state for the quarter comes on the heels of a 20.3 percent sales jump reported by LRA in the third quarter. Alexandria had an increase of 4.4 percent for the quarter and 0.3 percent for the year. The statewide 2011 average sales price of $180,846 was down 1.8 percent from the previous year. Meanwhile, prices nationwide dropped 4.7 percent for the year, according to the December 2011 Home Price Index published by CoreLogic. Excluding distressed sales however, CoreLogic’s figures show that prices only dropped 0.9 percent in 2011. According to the data, Louisiana showed a 2 percent increase in sales price for the year after distressed sales were removed from the mix. Sales of distressed properties do have a negative impact on overall home prices, as evidenced by the slight drop we saw in Louisiana’s prices last year.

 

 

(+1) Random home sales for the week:

 

Horace A & Debra K Norment (565 Edgewood Dr., Pineville, LA 71360) to Ricardo B & Nedra O Williams (781 Pinehurst Dr., Pineville, LA 71360) - Lot 14, Walden Point Subd., $171,500.00 this sales rates positive score for REI.

 

2008 one sale at $157,000

2009 one sale at $165,000

2010 total sales were 2 the average price was $138,700

2011 total sales were 2 the average price was $142,000

2012 total sales year to date is $171,500

 

Freddie & Barbara K Banks (3810 Maywood St., Alex., LA 71301) to Jerry D Larwood, II & Kylie R Larwood (125 Fred's Lane, Bunkie, LA 71322) - Lots 4 & 6, Martin Addn., et al, $150,000.00 this sales rates positive score for REI

 

2008 total sales were 5 the average price was $100,650

2009 total sales were 3 the average price was  $88,300

2010 total sales were 5 the average price was $145,380

2011 total sales were 4 sales the average price was $109,777

2012 total sales year to date are 3 with average price of $112,166

 

 

(+1) Lot sales: To rank positive score need one sale market gave 3 sales with 100% of deal from developer’s inventory.

 

JTR Of Louisiana, Inc. (P O Box 12275, Alex., LA 71315) to Anne M Curcio (P O Box 13295, Alex., LA 71315) - Lot 63, Fairfield Subd., $35,000.00

 

Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 220, Bocage Subd., Phase V (5908 West Austin Dr., Alex., LA 71303), $22,000.00

 

Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 237, Bocage Subd., Phase V (5818 Hannah Dr., Alex., LA 71303), $22,000.00

 

Gerardo & Silvia Martinez (497 Hwy. 497, Forest Hill, LA 71430) to Alejandro R & Rosa Sosa, et al (P O Box 306Forest Hill, LA 71430) - 1.985 acres in Sec 18, T1NR1W, $24,000.00

 

(-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, total number of sales for the week was 7 with total volume at $255,910/ $6,747,160 = 3.79%

 

LPP Mtg., Ltd. (6000 Legacy Dr., Plano, TX 75024) to Rhonda Hamill (306Sycamore Dr., Boyce, LA 71409) - Lots 1-3, Sq 9, Town of Boyce (303 Ulster Dr., Boyce, LA 71409), $12,000.00

 

Federal Home Loan Mtg. Corp. to Charles Taylor (198 East Glenn Road, Dry Prong, LA 71423) - Lot 32, Baywood Heights Subd. (31 Baywood Dr., Pineville, LA ), $35,010.00

 

LPP Mtg. Ltd. (7195 Dallas Parkway, Plano, TX 75024) to Frances Thomas-Tennie (428 Bennett St., Alex., LA 71302) - Lot 76, Dixie Place Subd., $2,500.00

 

J P Morgan Chase Bank to Ronald W Robinson (232 Hwy. 463, Hineston, LA 71438) - 1.485 acres in Sec 18, T2NR3W (7145 Hwy. 112, Elmer, LA 71424), $48,500.00

 

Sabine State Bank (P O box 670, Many, LA 71449) to Mark A Gravel Properties, LLC (1922 White St., Alex., LA 71301) - Lot 1, Blk M, Quail Ridge Subd. (3108 Bear Trail, Alex., LA 71301), $75,000.00

 

LPP Mtg. Ltd. (6000 Legacy Dr., Plano, TX 75024) to Thomas E & Lori A Scott (664 Good Acre St., Pineville, LA 71360) - Lots 3 & 4 of the resubdivision of Lots 1-5, Sq 2, Harper's Addn. (203 Terrace St., Pineville, LA 71360), $58,000.00

 

LPP Mtg. Ltd. (6000 Legacy Dr., Plano, TX 75024) to Buster Asset Management, LLC (1600 Emberly Oaks, Alex., LA 71301) - Part of Lot 9, Sq 61, Kilpatrick Addn. (1229 Blythe St., Alex., LA 71301), $24,900.00

 

Interest Rates: 30 year fixed is 3.78% was 3.81% the 15 year rate is 3.02% was 3.05% 5/1 ARM is 2.72% was 2.71%.

 

Mortgage of interest

 

Hunt Forest Products, Inc. (P O Box 1263, Ruston, LA 71270) to Iberibank (1300 Oliver Road, Monroe, LA 71201) - 60 acres in Sec 12, T2SR2W, et al, $18,000,000.00

 

Mossy Oak Mobile Home Park, LLC (8782 Hwy. 1200, Boyce, LA 71409) to The Evangeline Bank (3355 Masonic Dr., Alex., LA 71315) - Tract in Sec 13 & 79, T4NR1W (4207 N Bolton Ave., Alex., LA 71315), $573,076.40

 

Beam Investments, LLC (3210 Parkway Dr., Alex., LA 71301) to Sabine State Bank (3925 Jackson St., Alex., LA 71303) - 12.671 acres in Sec 88, T4NR3W, $600,000.00

 

Blackmon & Bain Properties, LLC (8400 Hwy. 28 E, Pineville, LA 71360) to The Evangeline Bank (P O Box 12900, Alex., LA 71315) - Tract in Sec 50 & 52, T2NR1E (8229 Hwy. 71 South, Lecompte, LA 71346), $650,000.00

 

Mortgage activity for the week: did not have time to research this not sure it is of much interest to audience.

Rod's Notes For Wednesday 05/02/12


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:

 

The City of Alex. to Sutherland Global Services, Inc. (1160 Pittsford Victor Road, Pittsford, NY 14534) - 41,923 sq ft located at Power Center Mall, Alex., LA for 7 years $3.50 square foot for first year

 

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.

 

Nolan E & Priya K Daniel (116 Don Lane, Pineville, LA 71360) to Louisiana College (LC Box 381, Pineville, LA 71359) - Lot 9, Blk B, W H Barron Subd. (1303 College Dr., Pineville, LA 71360), $114,500.00

 

Investor’s llc activity:

 

Heather N Wainwright (220 Spring Creek Dr., Pineville, LA 71360) to C & G Rentals of Cenla # 2, LLC Eugene and Cheryl Vanlangendonck (146 Red Oak Lane, Dry Prong, LA 71423) - Part of Lots 3 & 4, Sq 3, Ozone Heights Subd. (114 Fairmount St., Pineville, LA 71360), $62,000.00. Appears to be their first deal.

 

Steven J Northridge (18 Purser St., Pineville, LA 71360) to J & J Real Estate, LLC James and July White (1997 Dovie Dr., Pineville, LA 71360) - Tract in Sec 12, T4NR1W (17 Purser St., Pineville, LA 71360), $66,283.63. Purchased 5 properties since 1/11/2008 and sold 2 during same time period.

 

Razor’s Edge: No news today and name I liked best was “a little off the top” and “rusty razor”

 

People not properties:

 

Jim Clinton, Rick Ransom, Wayne Denley and others at CLEDA have really gotten off to a good start with regional economic development in 10 parish area.

 

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.

 

E Ray Proctor is d/b/a Parkside Grocery (9421 Hwy. 165 S, Woodworth, LA 71485)

Construction Contracts: none recorded this week.

Announcements, Attachments and Travels:

Happy 200 Louisiana, great state, great people, flare and foibles I would not want to live anywhere else.  

To our grandparents in the listening audience we are new at this. Marilyn and I spent five days last week in New Orleans, house sitting, dog walking and baby-sitting our 2 year old grandson Noles. Kid’s home is a short walk to the Fairgrounds and I did attend Jazz Fest Sunday morning for first time. Did discover at Razor’s edge from “other barber” Larry that John Laborde chef and cater takes tractor trail of food each of the 10 days of festival of great Marksville cooking to his booth.

BAS seminar last night with the Zing Company would like for someone to call in and tell us about the seminar. Two of our folks went last night and two are going this morning I could not attend since Tuesday night is when the show transcripts are drafted.

(+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. 

 

Legal recorder data: five business days from time period of April 23rd through April 27th  

 

(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 38 with volume of $4,731,400 not a bad  week but only 38 sales rates a negative score.

 

WJS article Monday April 30th headline read “Housing ends slide but faces a along bottom” highlights worth mentioning

 

  1. Nationally more markets appear to be nearing a new phase: a prolonged bottom
  2. Full-fledged recovery for home owners who purchased during the bubble is long way off
  3. Home builders began construction on only 434,000 single family homes last year which is lowest record on record
  4. Research firm Zelman and associates estimates 24% increase 2012 with projected 540,000 single family home starts
  5. New-home sales during 1Q12 posted double digit gains
  6. Previously owned home sales are up 32% from their low point of 2010 when sales plunged following expiration of tax credit
  7. February Core-Logic states home prices fell 2% from year earlier but removed foreclosed properties from numbers 0.8% decline
  8. Biggest headwind is the “shadow inventory” of potential foreclosures
    1. End of March banks owned 450,000 properties
    2. 2,000,000 loans in some stage of foreclosure
    3. 1,700,000 loans where there has been no mortgage payment in past 90 days
    4. Shadow inventory is the “ball and chain” for recovery in national picture and has been bigger part of local market 1Q12
  9. Housing is getting a life from reduced supply and larger demand.
  10.  Investors have strong appetite for single family homes as an investment. True with me and several of investor clients.
  11.  The “Buy back demand clauses by Fannie Mae and Freddie Mac has created a “hoop jumping” process for borrower.
  12.  Absorption rate was so low last month that I declared Mykoff report to be flawed. Reasons for lean inventory include following:
    1. Sellers are making decision not to sell at the price their home would bring right now and pursing other alternatives
    2. Courts have caused banks to sharply decline foreclosure process in past 18 months
    3. Increased demand, low interest rates, and more confidence has more home selling.

 

(-1) Random home sales for the week:

 

Clarence Frazier, Jr. (5722 Goodland Trace, Alex., LA 71301) to Matthew & Toni Valencia (5735 Goodland Trace, Alex., LA 71301) - Lot 77, Shenandoah Subd., 2nd filing, $140,000.00. Only 7 sales since January 1, 2008 very stable neighborhood but sale we are tracking is lower than 2010 average of $146,333 for negative REI.

 

2008 total sales were zero

2009 total sales were 3 the average price was $132,633 the lowest price was $99,900 and highest price was $155,000

2010 total sales were 3 the average price was $146,333 the lowest price was $140,000 and the highest price was $150,000

2011 total sales were zero sales.

2012 total sales year is one at $140,000

 

Martha F Meehan (111 Belle Meade Dr., Monroe, LA 71203) to Gloria J Newton (1830 Memorial Dr., Alex., LA 71301) - Lot 17, Sq 5, Wedgewood Downs, $100,000.00. Only 10 sales since January 1, 2008 sale this week is below average of any previous year for negative score.

 

2008 total sales were 7 the average price was $109,842 the lowest price was $45,000 and the highest price $133,000

2009 total sales was a single sale at $115,000

2010 total sales were zero sales

2011 total sales were zero sales.

2012 total sales year to date are 2 with average price of $113,163

 

 

(+1) Lot sales: To rank positive score need one sale market gave three and two were from developer’s inventory for positive score for the week.

 

Louisiana Conference Center of the United Methodist Church (2350 Methodist Parkway, Woodworth, LA 71485) to Marvin C Cassell (1945 Tom Cassell Road, Woodworth, LA 71485) - Lots 132 & 159, Country Club Place, Phase VI, $67,000.00

 

Patsy M Fisher (63 Mabou Hill Road, Deville, LA 71328) to Sean T & Carla D Fisher (35 Boyce Mabou Road, Deville, LA 71328) - 3.3 acres in Sec 41, T5NR3E, $38,000.00

 

(+1) New Home sales: to rank positive score need one sale last week market provided two both condo sales with one in Pineville and the other in Alexandria rates positive score for the week.

 

“Barely Building,” was the headlines for Town Talk B6 article in Wednesday May 2nd edition.

  1. Small increase in March’s construction spending after 2 straight months of decline
  2. Pick up in single family homes and commercial offset steep drop in state and local government spending
  3. $808.1 billion dollar annual rate which is 6% better than last year which was lowest of past 12 years.
  4. New homes sales fell 7.1% in March (note WSJ article estimates 24% increase in home starts for 2012)
  5. New home sales represents 10% of total sales but creates lots of jobs.
  6. Short sales and foreclosures continue to compete with new home sales.

 

Brittain & White Construction (5512 Jackson St. Ext., Alex., LA 71303) to Wayne J Berlin, Sr. & Dianne M Berlin (281 Wilderness Dr., Boyce, LA 71409) - Unit 508 G, Cypress Point At The Lake District Condominiums (508 G Ansley Blvd., Alex., LA 71303), $149,000

 

Stonegate Condominiums of Pineville, LLC (P O Box 12846, Alex., LA 71315) to Christopher J Foti (3200 H Military Hwy., Pineville, LA 71360) - Unit 3200-H, Stonegate Condominiums, $126,000.00

 

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 two with volume of $138,000 / $4,731,400 = 2.91% rates positive score for the week.

 

The Evangeline Bank (P O Box 12900, Alex., LA 71315) to Samuel B Tamburo (4057 Bayou Rapides road, # 204, Alex., LA 71303) - Lot 14, Colina Heights, $60,000.00

 

The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Doyle E Knight (794 Hwy. 8, Lena, LA 71447) - Tract in Sec 22, T5NR4W, $78,000.00

 

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 3.81% was 3.82% the 15 year rate is 3.05% was 3.07% 5/1 ARM is 2.71% 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 closed mortgages was 61 with volume of $7,795,012 / $4,731,400 of closed sales = 1:1.65 ratio loans to closed deals. Closer number is to 1:1 will indicate refinancing has slowed down.

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