Rod's Notes Archives for 2012-06

Ro's Notes For Wednesday 06/20/12


Rod Noles Property Management, Inc.

 

 Radio Show Notes June 20th 2012
 

Go to: www.rodnolespropertymanagement.comand click on radio notes and sign up to have them emailed each week. If you know of someone looking for rental space, apartments, homes, retail, office or industrial send them to www.rodnolespropertymanagement.
 
You can participate in the show by calling 318-442-8255 (talk) between 8:05 and 8:55 on Wednesday morning.  Do not attempt to call Saturday this is our encore performance (fancy way to say taped).
 
I will be gone for next two weeks, sorry no show until July.
 

Listener quiz:Where was Cummella’sgrocery?
 
Chateaux Deville:filed 18 evictions last week, must be shake up going on there
 
Every Deal Has a Tale / Tail:
William J McPherson, Jr. & Karen S McPherson, et al (2000 Maison Rue, Woodworth, LA 71485) to BMG Investments, LLC - Lot 6, Pine Grove Subd., $500,000.00. BMG Investments, LLC (5119 Masonic Dr., Alex., LA 71301) to Colfax Banking Co. (P O Box 247, Colfax, LA 71417) - Part of Lot 22, Cook-Alexander Subd., et al (5123 Masonic Dr, Alex., LA 71301), $500,000.00
 
George A Lester, et al (3908 Lee St., Alex., LA 71302) to Carl N Gunter, III & Martha H Gunter (3361 Edgewater Dr., Gulf Breeze, FL 32563) - Tract in Sec 13, T3NR1E, et al, $621,000.00. This is 80 acres on the Red River borders land already in Gunter family other adjacent property owners include Frank Hathorn, Dean Tyler and Mrs. Waddell. Curious if there are improvements with this sale if not this is comparable of $7,762 per acre.
 
Trident Construction Co. of Cenla, Inc. Eddie Parker(620 Daniels Road, Ball, LA 71405) to Kacey E Trahan (904 Mockingbird Lane, Pineville, LA 71360) - Lot 6, Audubon Heights Subd., $60,000.00
 
Two Sales at Rosalie Plantation: 4.87 acres for $175,000
Wilvan M & Laine B Miller (6699 Old Baton Rouge Hwy., Alex., LA 71302) to Bennet C & Dolors F Landreneau (6705 Old Baton Rouge Hwy., Alex., LA 71302) - 3 acres in Sec 60, T3NR1W (6670 Old Baton Rouge Hwy., Alex., LA 71302), $55,000.00
 
Wilvan M & Laine B Miller (6699 Old Baton Rouge Hwy., Alex., LA 71302) to Layne J Landreneau (6705 Old Baton Rouge Hwy., Alex., LA 71302) - 1.87 acres in Sec 60, T3NR1W, et al (6670 Old Baton Rouge Hwy., Alex., LA 71302), $120,000.00
 
Rent House:
I have never owned a rent house with swimming pool and did not realize liability insurance cost nearly $900 per year more. My investment check list now includes not buying rent house with a pool.
 
England Air Park Activity:51 transactions over $5,400,000 in sales.
 
Bruce & Gayla S Knight (6903 Hwy. 1 North, Boyce, LA 71409) to The England Economic and Industrial Development District - 2.834 acres in Sec 12, T4NR2W, $140,000.00
 
Joseph K & Jacqueline A Jones (430 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Tract in or near Lot 13, Bayou Grosse Park Subd., $105,500.00
 
Allan R & Carolyn G Phillips (2504 King Road, Sulpher, LA 70663) to The England Economic and Industrial Development District - Lot 8, Bayou Grosse Park Subd., Ext. 1, $18,420.00
 
Investor’s LLC Activity:
Christopher A Wade (2409 Valley View Dr., Pineville, LA 71360) to Strother Investments, LLC (208 Milky Way, Pineville, LA 71360) - Tract in Sec 8, T4NR3E, $6,000.00
 
Litton Properties, LLC (215 Timberlake Dr., Woodworth, LA 71485) to Louis P Lemoine (1400 East Newport Center Dr., Deerfield Beach, FL 33442 Lake Dr., Woodworth, LA 71485) - Lot 121, Country Club Place, Phase 6, $100,000.00
 
People Not Properties:
Susan Matthews might appear as guest for Rich Field Subdivision in Pineville.
 
Banc Corp South Eugene Scriber sponsor for commercial broker’s meeting last night at Cajun Landing. Small turn out but great exchange of “wants and needs”
 
Executive director of the LREC will meet with local brokers Monday July 25that Noles-Frye conference room.

Construction Contracts:
Zero recorded this week but interesting activity at former Masonic Children’s home and new fire station on 28 West.  
 
Announcements, Attachments and Travels:

(+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 June 11ththrough June 15th.
 
(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:
41 deals total volume of $4,694,633 Tracking 5 business days from June 11thto June 15th.For a positive score we only need 40 closed deals.
 
(+1.5) Lender Sales as Percent of Total Sales: 
With volume of $4,694,633 @ 5% = $234,731 and total volume for two sales was $132,000 / $4,694,633 = 2.81%
 
Dept. of HUD to Kayce R Sisco (135 Joy Lane, Pineville, LA 71360) - Lot 10, Marie Acres Subd., $72,000.00
 
LPP Mtg., Ltd. (7195 Dallas Parkway, Plano, Tx 75024) to Barry & Lynn Herrington (120 Ward Road, Boyce, LA 71409) - Lot 3, Kenneth Lewis Subd. (120 Ward Road, Boyce, LA 71409), $60,000.00
 
(+1.25) New Home Sales:
Weneed one sale for positive score this week we had two sales.
 
Johnny Porter Builder, Inc. (1268 Philadelphia Road, Deville, LA 71328) to Edgar L Arnold, III (101 Shady Crest Ave., Pineville, LA 71360) - Lot 8, Shady Crest Subd., Phase II, $179,000.00
 
V & V Builders, LLC (1223 MacArthur Dr., Alex., LA 71303) to Mathew R Wilson, III & Malarie W Wilson (67 Ragan Dr., Alex., LA 71303) - Lot 246, Bocage Subd., Phase V (37 Ragan Dr., Alex., LA 71303), $247,000.00
 
(+1.25) Lot Sales:  
We need one lot sale for positive score this week we had two.
 
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Michael L Rhodes (119 Navajo Place, Pineville, LA 71360) - 2.24 acres in Sec 17, T4NR1E, $26,000.00
 
Olson's Properties, LLC (8782 Hwy. 1200 Boyce, LA 71409) to Christina M Rodrigues (222 Wainwright Road, Pineville, LA 71360) - Lot 17, Colina Heights Subd., Phase I, $16,000.00
 
Interest Rates:
30 year fixed is 3.63% was 3.68% the 15 year rate is 2.99% was 3.03% 5/1 ARM is 2.68% was 2.70%.
 
Local Bank Quote for $100,000 CD:
6 months @ 0.35% / 1 year @ 0.55% / 2 year @ 0.75% Drive by reporters can someone tell me where there they can find a better rate?
 

England Air Park Sales
 

Since 9-19-2008 there has been a total of 50 transactions with a volume of $5,417,186 on our next show I will research how many of the sellers purchased another home in Rapides Parish.
 

09/19/2008

1822/920

Terry L & Bridget M Ward (1155 Hwy. 454, Pineville, LA 71360) to The England Economic and Industrial Development District - Lot 1, J C Brown partition, $71,000.00
 

09/19/2008

1822/924

Terry L & Bridget M Ward (1155 Hwy. 454, Pineville, LA 71360) to The England Economic and Industrial Development District - Lot 1, J C Brown partition, $164,000.00
 

10/15/2008

1824/961

Nealon & Peggy A Maricle (395 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 1.958 acres, Sec. 11, T4NR2W,
$115,000.00
 

12/08/2008

1828/117

Ernest F Goff, III, et ux (435 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 7.43 acres, Sec. 11, T4NR2W, et al, $120,000.00
 

12/18/2008

1828/825

Lydia P Cortello (6749 Hwy. 1, Boyce, LA 71409) to The England Economic and Industrial Development District - No Legal Desc., $92,000.00
 

12/22/2008

1829/172

David L & Julane A Reinhart (3025 Hoyt Rd., Boyce, LA 71409) to The England Economic and Industrial Development District - 1 acre, Sec. 11, T4NR2W, $49,400.00
 

12/23/2008

1829/231

Twin City Renovators, LLC (423 Timber Ridge Dr., Woodworth, LA 71485) to The England Economic and Industrial Development District - Lot 181, Bayou Grosse Park Subd of Lot 1, James C Brown Partition, et al, $128,014.00
 

04/24/2009

1836/369

Frances D Burch (480 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 24, Sec. 16, T4NR2W, $88,000.00
 

04/24/2009

1836/373

Claude D & Cindy J Rashall (68 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot A, Bayou Grosse Park Subd., $149,000.00
 

04/24/2009

1836/377

Max McElwee (6787 Hwy. 1 N, Boyce, LA 71409) to The England Economic and Industrial Development District - 1.51 acres, Sec. 17, T4NR2W, $135,000.00
 

04/24/2009

1836/381

Bessie M Brodnax (427 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Tract in Secs. 13 & !6, T4NR2W, $96,000.00
 

08/31/2009

1845/976

Ralph D Devine, et al (50 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 2.72 acres, Lot T, Bayou Grosse park Subd. Ext. #2, $29,294.00
 

11/13/2009

1850/471

Ralph D & Mark L Devine (50 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 2.344 acres, Lot S, Bayou Grosse Park Subd., $148,000.00
 

12/29/2009

1852/687

Veronica J Clark (6789 Hwy. 1 N, Boyce, LA 71409) to The England Economic and Industrial Development District - 1.121 acre tract in Sec. 17, T4NR2W (6789 Hwy. 1 N, Boyce, LA 71409), $118,400.00
 

12/29/2009

1852/691

Brandon K Bakies (477 Moses Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lots 15-18, Bayou Grosse Park, $58,000.00
 

03/12/2010

1857/388

Charles Gorum (30 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 6, Bayou Grosse Park, Ext. 1, $77,400.00
 

03/12/2010

1857/397

George L Jones to The England Economic and Industrial Development District - .910 acre tract in Lot 7, Bayou Grosse Park Subd., Ext. 1, $86,500.00
 

03/12/2010

1857/405

Brandon K Bakies (477 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Tract in Secs. 11 & 16, T4NR2E, $105,000.00
 

04/22/2010

1859/972

Jefferson & Dorothy Hastings (74 Dottie Ln., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 12, Dottie Lane Extended, $94,500.00
 

04/22/2010

1859/980

Billy J & Carol C Jowers (6899 Hwy. 1 N, Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 1, Bayou Grosse Park Subd., et al, $35,000.00
 

04/22/2010

1859/992

William Luttgeharm (P O Box 8508, Alex., LA 71306) to The England Economic and Industrial Development District - Lot 2, Bayou Grosse Park Subd., et al, $54,500.00
 

05/07/2010

1861/112

Paul A & Christine B Drerup (74 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot B, Bayou Grosse Park Subd. Ext. #2, $109,000.00
 

05/07/2010

1861/120

Larry M & Mary C Holligan (70 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot Q, Bayou Grosse Park Subd. Ext. #2, $138,000.00
 

06/24/2010

1865/477

Geraldine Blackwell (60 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot R, Bayou Grosse Park Subd. (60 Christine Dr., Boyce, LA 71409), $84,200.00
 

07/12/2010

1866/991

Down Home Properties, LLC (6361 Twin Bridges Rd., Alex., LA 71301) to The England Economic and Industrial Development District - Lot A, Bayou Grosse Park Subd.., Ext. #2, $96,700.00
 

07/16/2010

/ 1428996

Mary A Cooper (28 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 3, Bayou Grosse Park, Ext. #1, $123,500.00
 

07/16/2010

/ 1428895

William Schellenger, et ux (105 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot E, Bayou Grosse Subd., Ext. #2, $216,000.00
 

07/16/2010

/ 1428994

Harren Basco (107 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot O, Bayou Grosse Park Subd., Ext. #2, et al, $74,500.00

07/16/2010

/ 1428993

Jerry & Pamela Johnson (390 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 2.95 acre tract in Secs. 11 & 73, T4NR1W, $119,000.00
 

07/16/2010

/ 1428991

Barbara J Hillman (78 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot C, Bayou Grosse Park, Ext. #2, $66,500.00
 

08/17/2010

1869/527

April Albritton (6845 Hwy. 1 N, Boyce, LA 71409) to The England Economic and Industrial Development District - .50 acre tract in Secs. 11 & 16, T4NR2W, $60,000.00
 

09/02/2010

1870/815

Jimmie & Peggy C Deramus (2417 Lee ST., Alex., LA) to The England Economic and Industrial Development District - Lot 7, Henderson-LeBlanc Subd., et al, $84,680.00
 

09/08/2010

1871/143

Joseph & April Schoolcraft (6785 Hwy. 1 N, Boyce, LA 71409) to The England Economic and Industrial Development District - 1.28 acre tract in Sec. 17, T4NR2W, $122,200.00
 

09/09/2010

1871/224

Linda P Nagel (1760 Taylor Rd., Farmville, NC 27828) to The England Economic and Industrial Development District - Tract in Sec. 11, T4NR2W, $136,000.00
 

09/24/2010

1872/222

James A Rhodes, Sr. (386 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 1.0 acre tract in Sec. 11, T4NR2W, Lot 5, The Bayou Grosse Subd., $82,500.00
 

09/24/2010

1872/226

Monica G Edmonson (99 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 8, Bayou Grosse Park Subd., $67,500.00
 

10/20/2010

1873/684

William & Misty D Hebert (100 Christine Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot D, Bayou Grosse Park Subd., Ext. # 2, $150,000.00
 

10/27/2010

1874/100

Jay C & Janet R Rachall (77 Fredericksburg Road, Boyce, LA 71409) to The England Economic And Industrial Development District - 1 acre tract in or near Lot 9, Colonial Estates, $23,000.00
 

12/16/2010

1877/225

Edwina H DeRamus (200 Jimmy Brown, Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 10, Henderson-LeBlanc Subd., et al, $185,000.00
 

01/24/2011

1879/515

Mark L & Kathy L Devine (412 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - 1 acre in Sec 11, T4NR2W, $28,000.00
 

07/21/2011

1893/240

Jo Ann McDaniel (490 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 3, Bayou Grosse Park Subd., et al, $90,000.00
 

07/22/2011

1893/481

John D & Mary C Winn (4 Dottie Lane, Boyce, LA 71409) to The England Economic And Industrial Development District - Part of Lot 1, Dottie Land Subd., $126,040.00
 

07/27/2011

1893/865

Earl L Cherry (240 Effie Hwy., Deville, LA 71326) to The England Economic and Industrial Development District - 12.58 acres in Sec 19, T4NR2W, $220,000.00
 

09/21/2011

1897/732

Tammy G Lacombe, et al (6790 Hwy. 1 North, Boyce, LA 71409) to The England Economic and Industrial Development District - .365 acres in Sec 17, T4NR2W, $98,100.00
 

09/21/2011

1897/736

Milford R & Loretta B Beebe (55 Dottie Lane, Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 9, Dottie Land Subd., $105,500.00
 

11/17/2011

1901/69

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

11/17/2011

1901/77

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

06/12/2012

1917/832

Bruce & Gayla S Knight (6903 Hwy. 1 North, Boyce, LA 71409) to The England Economic and Industrial Development District - 2.834 acres in Sec 12, T4NR2W, $140,000.00
 

06/12/2012

1917/836

Joseph K & Jacqueline A Jones (430 Moss Point Dr., Boyce, LA 71409) to The England Economic and Industrial Development District - Tract in or near Lot 13, Bayou Grosse Park Subd., $105,500.00
 

06/12/2012

1917/840

Allan R & Carolyn G Phillips (2504 King Road, Sulpher, LA 70663) to The England Economic and Industrial Development District - Lot 8, Bayou Grosse Park Subd., Ext. 1, $18,420.00

 
 
Parting Shot:  Update or opinions at Razor’s Edge no way November 6 bond issue $23 million dollar tax will pass.
 
  

 

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Rod's Notes For Wednesday 06/13/12


Rod Noles Property Management, Inc.

 

Rod’s Radio Show Notes
June 13th 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).
 

Listener Quiz: Where was “Beason Toy Store” located?
 
Central Louisiana Makes Top 3 lists for “Best places to retire in America”  
Marilyn (my wife) asked, “now that we are #3 would you consider retiring.” For the record I am not retired. I no longer own a brokerage company having sold said business to Latter & Blum December 2009 but I am an active agent of Latter & Blum plus own a property management company Rod Noles Property management. Repeat, “Rod Noles is not retired”
 
Every Deal Has a Tale / Tail:
Guy E Humphries, III & Dana L Humphries (1030 Lake Dr., Woodworth, LA 71485) to Marion A French, et al - Part of Lot 2, Sq 45, City of Alex., $55,000.00
 
Progressive Construction Co., LLC (5816 Jackson St., Alex., LA 71303) to R L C Trucking, LLC (36301 W Pine Grove Court, Prairieville, LA 70769) - 2 acres in Sec 41, T4NR2W (705 McKeithen Dr., Alex., LA 71303), $90,000.00.
 
Oasis Truck Stop on highway 71 South is sold, maybe Debbie Ransom can tell us if the “fair board” purchased this. The dirt work going on next door to evacuation center is not LSUA but appears to be fair board and looks like they are building a lake.
 
WSJ article “Foreigners Snap up Properties in the U.S”

  1. Accounts for 8.9% of residential sales in past 12 months ending in March
  2. Total foreign sales $82.5 billion
  3. Up 24% from same time period last year
  4. Survey showed 55% came from 5 countries Canada, Shina, Mexico, India and UK
  5. Five states accounted for 55% of sales Flordia, California, Texas, Arizona, and New York
  6. Cash buyers in 62% of sales
  7. 40% of buyers plan to use residents as primary home
  8. Concept of safe haven, bargain, and currency advantage
  9. Question for our listeners which city in American is seeing the largest sales volume to foreigners?

 
England Air Park Activity: Zero for the week.
 
Investor’s LLC Activity:
 
People Not Properties:
Susan Matthews will be our guest next week maybe

Construction Contracts:
City of Alex. to Progressive Construction Co., LLC - S.P.A.R.C Masonic Dr. Corridor Enhancements Phase 3, Package 1, $80,418.00

Announcements, Attachments and Travels:
Attended Prairie Home Champion this past Saturday at Shreveport’s Municipal Auditorium and saw good group of Central La. finest in the crowd. There was one unnamed Episcopal priest who was absent from the Bishop’s conference that was comfortably seated in front row balcony. I can now add to my resume that I sang with James Burton in same auditorium that Elvis performed.
Noles-Frye Realty Production will give you snap shot of activity for 30% sampling of MLS for past two weeks.

(+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 June 4ththrough June 8th
 
(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) Total Weekly Volume:
Tracking 5 business days from June 4ththrough June 8thtotal of 33 transactions highest sale was $295,000 lowest sale $2,000. Total volume was $3,162,108 and average price of $95,821. Rates Negative for the week
 
WASHINGTON(May 30, 2012) - Pending home sales retrenched in April following three consecutive monthly gains, but are notably higher than a year ago. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said a one-month setback in light of many months of gains does not change the fundamentally improving housing market conditions.  “Home contract activity has been above year-ago levels now for 12 consecutive months. Home sales are staying well above the levels seen from 2008 through 2011.  The housing forecast has been upgraded, with existing-home sales expected to reach 4.66 million this year, compared with 4.26 million in 2011. 
 
Because of measurably lower inventory supplies, the forecast for home prices has been upwardly revised with the median existing-home price projected to rise 2 to 3 percent this year and 4 to 5 percent in 2013, with wide local market variations. 
 
The price gains will measurably reduce the number of underwater homeowners.  “For example, a 5 percent national price gain means the number of underwater homeowners would fall to about 9 million from current estimates of around 11 million.  A 10 percent gain, say over the next two years, would reduce the underwater status to about 7 million households out of 75 million owner-occupied homes. About 25 millionhomes are owned free and clear without a mortgage.
 
NOTE:  Existing-home sales for May will be reported June 21 and the next Pending Home Sales Index will be on June 27; release times are 10:00 a.m. EDT.
 
Lot Sales:
To rank positive score need one sale market gave
 
New Way Investments, LLC (3786 Old Marksville Hwy., Pineville, LA 71360) to Misty Bonnette (3667 Lil' Corner Road, Hessmer, LA 71341) - Lot 6, Tylin Acres Subd., $25,000.00
 
D&J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) to Tracy D & Sheryl A Beech (82 Hwy. 454, Pineville, LA 71360) - Lot 12, Belle Chase Subd., $42,500.00
 
D&J Development of Louisiana and Arkansas, LLC (P O Box 1719, Tioga, LA 71477) to Joe E & Marian W O'Quin (4805 Warwick Blvd., Alex., LA 71303) - Lot 10, Belle Chase Subd. (119 Club House Dr., Woodworth, LA 71485), $42,500.00
 
Lambert Recreational Properties, LLC (P O Box 215, Hessmer, LA 71341) to Gary L & Wendy R Hyatt (820 Iberia St., Youngsville, LA 70592) - Lot 5-A Elza Hebert Estates, $37,000.00
 
New Home Sales:
To rank positive score need one sale last week market provided
 
Floyd C Hebert, Inc. (4033 Waterford Dr., Alex., LA 71303) to Beth L Riley (197 Woodwind, Pineville, LA 71360) - Lot 83, Woodlake Subd., Phase V-B, $243,000.00
 
Lender Sales as Percent of Total Sales:
The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Rhonda P Nugent (6149 Pineridge Ave., Alex., LA 71301) - Part of Lots 14 & 15, Sq 6, Plantation Acres, Part III (1806 Plantation Dr., Alex., LA 71301), $65,000.00
 
Wells Fargo Bank to Red Dog Properties, LLC (6139 Twin Bridges Road, Alex., LA 71303) - Lot C of a resubdivision of Lots 7-9, Sq 13, Welch Addn. (216 N 15th St., Alex., LA 71301), $5,000.00
 
Sabine State Bank (P O Box 670, Many, LA 71449) to Louisiana Community Care, Inc. (P O Box 710, Ball, LA 71405) - Lot 68, Pinebrook Estates Subd., $70,500.00
 
Federal National Mtg. Assoc. to Elbert & Dorothy T Fuqua (3002 Hwy. 107, Pineville, LA 71360) - Tract in Sec 26, T5NR1W (915 Ridgeview Dr., Pineville, LA 71360), $121,151.00
 
Interest Rates:
30 year fixed is 3.68% was 3.75% the 15 year rate is 3.03% was 3.10% 5/1 ARM is 2.70% was 2.70%.
 
Investment yields, means nothing unless compared to some alternative:
Look around the world at yields on 10 year government bonds;
 
U.S                  1.594
Austria             2.230
France             2.451
Germany         1.304
Italy                  5.828
Spain               6.470
U.K                  1.648
 
Parting Shot: Update or opinions at Razor’s Edge no way November 6 bond issue $23 million dollar tax will pass.

To view NOLES FRYE weekly deals listed, sold and under contract go to www.rodnolespropertymanagement.comand click on radio show, then open the notes from June 13th2012 and scroll to the bottom. 
 

 
 

Rod's Notes For Wednesday 06/06/12


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).

 

I typically spend 5 to 6 hours a week working on transcripts for this show working some on it every day. This past week wife had surgery and I have been consumed in my business world with expert witness in a trial that begins today in Shreveport. To those who read this report each week my apology for lack of quality time from my corner in preparation.

 

Great week for questions, comments, thoughts about our industry my notes will not carry us for one hour this week 442-8255 / 442-talk

 

Every deal has a tale / tail:

 

The construction on Hwy 165 will be storage buildings. Kelly Ducote had the listing and stopped by to tell MJ. The name on the company is SES Storage and will open at the end of June. Priscilla Perry

 

Washington Square, LLC (4615 Parliament Dr., Alex., LA 71303) to Ratcliff Investments, LLC (P O Box 7522, Alex., LA 71306) - Tract near the intersection of McGinnis St. & Bringhurst Ave., et al, $115,000.

 

Apartments at Horseshoe and Masonic are under contract developer takes title to the land one day and begins construction the next.

 

England Air Park activity:

 

Clark & Dianne Bordelon (51 Williamsburg Road, Boyce, LA 71409) to The England Economic & Industrial Development District - Lot 22, Colonial Estates, $168,700.00

 

Investor’s llc activity:

 

Mona S Kraushaar (4251 Cypress, Baton Rouge, LA 70808) to Rantan Properties, LLC (411 Vickie Lane, Alex., LA 71303) - Lot 3, Blk 85 of the resubdivision of Blks 57, 70, 85, & 86 & part of Blks 71 & 84, Kent Addn., $95,000.00

 

Harl M Robinson (8239 Hwy. 112, Glenmora, LA 71433) to Plow, LLC (5615 Jackson St., Building L, Suite D, Alex., LA 71303) - 18 acres in Sec 34, T2NR4W, $19,000.00

 

Johnny P & Alma W Reece (2313 Hwy. 457, Alex., LA 71301) to Mainstream Unlimited, Inc. (1309 Windsor Place, Alex., LA 71301) - Tract in Sec 2, T4NR1W, $100,000.00

 

Pennington Properties, LLC (P O Box 13742, Alex., LA 71316) to Sara Touchet (102 Hill St., Pineville, LA 71360) - Lots 12 & 14, Sq 3, Valley Addn. (102 Hill St., Pineville, LA 71360), $74,900.00

 

Linda G Deselle (821 Bayou Road, Cheneyville, LA 71325) to Mi Dushi Properties, LLC (5241 Fieldcrest Ave., Alex., LA 71303) - Lot 2, Good Earth Subd. (817 Terra Ave., Alex., LA 71301), $120,000.00

 

People not properties:

 

Susan Matthews will be our guest next week to talk about Richfield Subdivision in Pineville

 

Colt James met with our commercial group this week to discuss “private lender fund” he represents for agriculture, timber, recreational land. The fund is unregulated and can move quickly with minimum paper work. Underwriting is very conservative. I have been reading about private lender funds coming of age as regulations become more difficult first fund that has appeared in our market place. Please to see it is with company as capable as Trustland.

 

Scott Walker election results could it help change the school board’s decision about not renewing Gary Jones contract.

Construction Contracts:

City of Alex. to Tudor, Inc. - Related work on City of Alex. Fire Station # 5, LA 28 West Project, $2,179,500.00

 

Announcements, Attachments and Travels:

Training: REALTORS® are required to complete ethics training of not less than 2 hours, 30 min. of instructional time within four-year cycle. The training must meet specific learning objectives and criteria established by the NATIONAL ASSOCIATION of REALTORS®. The current four-year cycle will end Dec. 31, 2012. Training may be completed through local REALTOR® associations or through another method, such as home study, correspondence, classroom courses, or online courses         

Mykoff absorption report for May and previous time periods are attached. Absorption number for the month is 6.11.

6.1 Total market                    16 homes end of April 101 sold, 130 new homes

14.5 Above $400,001          29 homes end of April 2 sold, 8 new homes on market

10.17 $250k t0 $400K         61 homes end of April 6 sold, 11 new homes on market

5.86 $150k to $250K           170 homes end of April 29 sold, 41 new homes on market

(5.56) under $150K             356 homes end of April 64 sold 70 new homes on the market.

Flood insurance extended, second homes will be hit with full bill: On May 30, 2012, the House of Representatives passed a 60-day extension of the National Flood Insurance Program (NFIP). This temporary extension enables the Senate to act on the NAR supported 5-year reauthorization and reform bill this June. The short-term extension bill was being held up by Senator Tom Coburn (R-OK) who threatened to let the NFIP shut down yet again, unless his demands were met regarding federal tax dollars subsidizing vacation homes.

To meet these demands, the Senate agreed to a provision that creates a 4-year phase-out of rate subsidies on non-primary residences. The phase-out provision means that the insurance rate on some non-primary residences would increase by 25 percent per year until premiums reached the full (actuarial) cost. While the first step increase is currently scheduled to take effect on July 1, 2012, the rest of increases would not be fully phased-in for a minimum of 4 years.

Although NAR strongly objected mixing provisions of the larger reform bill with the temporary extension, the elimination of the rate subsidies was a necessary compromise in the face of overwhelming bipartisan support in both the House and Senate for the provision.

The compromise now in place prevents a potentially catastrophic lapse of the NFIP for both the short and long-term. Flood insurance is required by law to obtain a mortgage in more than 21,000 communities nationwide. A lapse would have affected 1,300 transactions a day or nearly 40,000 a month, a potentially devastating blow to the nascent market recovery. NAR will continue to work with our Congressional allies to minimize the impact of this provision as the legislative process moves forward.

 

Parting Shot update or opinions at Razor’s Edge before we attempt to pass 20 million dollar bond issue how about this barber shop idea? Analyze selling valuable land on 28 West buy or lease Cow Boy Town. Voters remember late 80’s board said if tax fails coliseum closes and it did not. Long memories and low tolerance on more taxes.   

 

(+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 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.

 

(+1.25) Total weekly volume was:   tracking 5 business days from May 28th through June 1st total sales was 56 with volume of $6,238,267 very healthy and no sales greater than $450,000

 

(+1.25) Lot sales: To rank positive score need one sale market gave us two both from developer’s inventory.

 

Richfield Development, LLC (P O Box 1470, Jena, LA 71342) to Craig E & Melissa O Sikes (5800 Whispering Pines Loop, Pineville, LA 71360) - Lot 18, Richfield Subd., Phase I (Richfield Place, Pineville, LA 71360), $31,500.00

 

New Way Investments, LLC (3786 Old Marksville Hwy., Pineville, LA 71360) to C. M. R. Investment Properties, LLC (3917 Lexington Dr., Alex., LA 71303) - Lots 2-4 & 7, Tylin Acres Subd., $48,000.00

 

(+1.25) New Home sales: to rank positive score need one sale last week market provided three lowest price was $137,500 and highest was $190,000

 

JTR of Louisiana, Inc. (P O Box 12275, Alex., LA 71315) to Michael A & Janie N Fitzsimmons (3604 Gingerbread, Alex., LA 71303) - 1.37 acres in Sec 44 & 45, T4NR1W, $190,000.00

 

Fernwood Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to James Butler, Jr. & Joe A Butler (5908 Tall Pine, Ball, LA 71430) - Lot 24, W L Moore Subd. # 2, $137,500.00

 

Samson Construction, LLC (37177 Heritage Court, Geismar, LA 70734) to Christopher C & Brenna K Campbell (320 Shadow Creek Ave., Pineville, LA 71360) - Tract in Sec 8, T4NR1E (320 Shadow Creek Ave., Pineville, LA 71360), $164,700.00

 

(1.25+) Lender sales as percent of total sales: With $6,238,267 in total sales 5% of that number would be $311,913 and with 4 lender sales totaling $246,500 = 3.95% as part of the total and rates positive score

 

First Federal Bank of LA (4121 N Mall Dr., Alex., LA 71701) to Luke A Difulco, III (5613 Vesta St., Alex., LA 71303) - Lot 18 of a revision & extension of Curtis Park, $35,000.00

 

Fannie Mae, et al to Janie Ashby (6649 Lost Ridge Dr., Pineville, LA 71360) - Lot 42, Lost Ridge Subd. (6649 Lost Ridge, Pineville, LA 71360), $76,000.00

 

Federal National Mtg. Assoc. to William P Jones (325 Lakeridge Trail, Pineville, LA 71360) - Lot 56, Whispering Pines Subd., $75,000.00

 

Sec. of Veterans Affairs to Kelly R Rachel (959 Bayou Trace, Alex., LA 71303) - Tract known as 610 Fox St., Pineville, LA 71360, $60,500.00

 

Interest Rates: 30 year fixed is 3.75% was 3.78% the 15 year rate is 3.10% was 3.08% 5/1 ARM is 2.70% was 2.64%.

Supreme Court Provides Clarity on lender brokerage fees: The U.S. Supreme Court last week provided real estate brokers a lot of clarity about administrative fees charged by brokerages when it ruled in favor of Quicken Loans in a lawsuit over unearned fees in the Real Estate Settlement Procedures Act (RESPA). At issue was whether fees the lender charged, known variously as a loan processing or a loan discount fee, violated federal settlement laws. The plaintiffs in the lawsuits argued that the fees were unearned because they weren’t tied to a specific service. But Quicken argued that the prohibition, in RESPA, only applied to fees that are split with another settlement service provider. Since it wasn’t split with anyone else, Quicken’s loan processing fee couldn’t constitute a RESPA unearned-fee violation. NAR, siding with Quicken, filed an amicus brief with the Court supporting the lender’s argument.

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