Rod's Notes Archives for 2012-07

Rod's Notes For Wednesday 07/25/12


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:

 

No Goats, LLC Dean R. Lindsay (1408 Peterman Dr., Alex., LA 71301) to Raquel, LLC Harriet Gonzalez (2477 E River Road, Oakdale, LA 71463) - Lot 3, J S Fant Subd., $12,000.00

 

Carl N Gunter, III & Martha H Gunter (3361 Edgewater Dr., Gulf Breeze, FL 32563) to Mid South Retirement Services, LLC Ronnie Wayne Lester(90 Harold Miles Park Road, Boyce, LA 71409) - Tract in Sec 13, T3NR1E, et al, $683,100.00

 

RCCS Investments, Inc. (7664 U S Hwy. 158 West, Yancyville, NC 27379) to PLOW, LLC William Fielding James Jr. (5615 Jackson St., Building L, Suite D, Alex., LA 71303) - 40.52 acres in Sec 24 & 28, T5NR1E, $80,000.00

 

Rumor is there is private investor deal working on Bentley Hotel

 

Rumor is Delta Business College property on Lee Street has a new owner

 

Construction contracts recorded: none to report this week but I would like to recap major projects under construction.

 

  1. Ok Allen bridge $82,000,000
  2. Arbor Heights apartments in Pineville 68 units $6,000,000
  3. Candlewood Suite hotel adjacent to Holiday Inn Express
  4. Masonic Drive Projects include the following

 

Masonic Corridor from between Lee Street and Texas Ave is where GAEDA’s (Greater Alexandria Economic Development Authority) has begun efforts to revitalize the streetscape.  

GAEDA’s plans for the project are 30 percent completed and plans call for construction to begin in August or September of 2013.

Ratcliff Construction’s Orthopedic Project next to Cabrini on Masonic Drive.

6 Million dollar project 31,000 square feet building, 120,000sf parking. Owner Is Rehab Specialist, contact person is Bart Jones, there will be a tenant in the office Mid State Orthopedic, and both are local companies. The completion date for the project will be October of this year. The property will have extensive landscaping built around preserving (2) 100+ year live oak trees. The architect for the project is Bledsoe out of Shreveport.

Masonic Homes Apartment Project at the corner of Horseshoe and Masonic Drive.

169 units under construction $17.2 Million dollar project .Masonic Estates LLC owns the property and the managing partner Rodger Landry (770)318-5374 (out of Atlanta, originally from Lake Charles) is heading up development. Brown Construction out of Shreveport are the general contractors.

 

People not properties:

 

Matt Ritchie president elect for 2013 of Louisiana Realtors and State President for CCIM in 2014

 

Karl Landreneau, commercial sales manager for Latter & Blum and international president for CCIM 2014

 

Father Adam Travis is local pastor for church in Natchitoches Parish near Melrose Plantation. This is the church where they filmed the wedding for Steel Magnolia.   

Announcements, Attachments and Travels:

We traveled to Jackson, Mississippi for surprise party to celebrate our son’s 6 year sobriety anniversary. Left Friday morning and discovered some surprises worth sharing. River was down to 13’ could see barges moving up and down but was hard to imagine that Vidalia convention center had to be sand bagged last year.  

Roux 61 on 61 South new restaurant on 61 South been opened about 6 months. Call my friend Joe Stedman )who I discovered in on Mississippi real estate commission) for recommendations. .

Harmony Farms 200 acre horse farm in Learned Mississippi with one five star FEMA trailer. This is a great place to rest, walk, fish, star gaze and romance. Owner might call in one day.

Gibbs Restaurant in old country store from 1983, fine dining on paper plates, staff is too young to serve beer but if you want beer just pull one out of the ice box. Bring your own wine cannot serve wine in the county.

Fairview Bed and Breakfast in Jackson near Millsap College, there are only 18 rooms but entire place is elegant and breakfast is great.  

One day CCIM course: Attachment will provide the details, I have trained for this course delivery but commercial sales manager for Latter & Blum will be course instructor. (1) the most valuable section of the course is “compare and contrast various measures of yields for investment real estate.”

Lake District HOA meeting: to discuss no fishing enforcement in our private lakes, July 31st at 6:00 PM conference room upstairs at Noles-Frye building.

England Authority sales:

The State of LA (P O Box 94095, Baton Rouge, LA 70804) to England Economic & Industrial Development District (1611 Arnold Dr., Alex., LA 71303) - 149.5 acres in Sec 74 & 39, T4NR2W, $39,923.00

Buying tip: If you want a red plastic gas can buy now if you can find them. Company that makes 75% of these plastic containers is now out of business following a series of plaintiff product liability suits. They did employ 117 people and now the plant is closed. The plastic cans will become product of the past.  

Truth in advertising: Page 4 July 27th edition of “The Week” Elle Zober 37, of Beaverton, Oregon has sign in her front yard that reads “Husband left us for 22 year-old house for sale by scorned, slightly bitter, newly single owner” In the trade this is called “domestic transfer” accounts for 25% of homes listed.

(+2.50) 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 July 16th through July 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.   

 

(+1) Total weekly volume was: During 5 business days of last week the market gave us $4,763,268 in volume and 42 transactions for positive score.

 

Tuesday July 24th page A2 Wall Street Journal headlines read. Home Prices Reflect Strengthening. Bullet points from the article include the following:

 

  1. Zillow report states that home prices in Q@2012 rose from the year-ago period for first time since 2007.
  2. Zillow measures prices of similar homes is the same community and not median sales.
  3. Nearly 33% of 167 metro areas past annual price increases 2Q2012
  4. Prices rose faster in markets with fewer homes for sale Phoenix was up 12% and Miami was up 6%
  5. Country has hit bottom in terms of home prices
  6. Supply of homes for sale has fallen sharply. Remember few months back when I said Mykoff absorption report could not be right. We have peak demand for rental homes for clients who sold their home and cannot find another to buy.
  7. 2.1% increase from 1Q2012 to 2Q2012 the largest since 2005
  8. 8. Again inventory WSJ survey shows 28 monitored markets all reflect decrease in available inventory. Down by 20% in two-thirds of the markets surveyed. (a) banks have fewer foreclosures listings are down 23% from one year ago (2) investors buyng foreclosed properties are renting instead of repair and flip (3) fewer short sales (4) biggest reason is people electing not to sell in this market
  9. Biggest worry for housing is the job market.

 

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

 

New Way Investments, LLC (3786 Old Marksville Hwy., Pineville, LA 71360) to Zachary P Burns (704 Shanghai Road, Ball, LA 71405) - Lot 3, McRichey Subd., $20,000.00

 

Bocage Subdivision of Alexandria, LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 252, Bocage Subd., Phase V (25 Ragan Dr., Alex., LA 71303), $22,000.00

 

Sharon K Rownd (5241 Rue Notre Dame, Alex., LA 71303) to David L & Ginger L Humbles (4120 Waterford Dr., Alex., LA 71303) - Lot 44, The Lake District, Phase 1, $60,000.00

 

(-1) New home sales: looking for one new home sale for positive score and market gave us zero for negative score

 

(-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 4 sales from lender’s inventory, total sales was $4,763,268 x 5% = $238,163 compared to actual volume of $333.000 or 7% which rates negative score.

 

Dept. of HUD to Madhu Thakker (6005 Pepper Tree Dr., Alex., LA 71303) - Lot 9, Bocage Subd., Phase I, $175,000.00

 

CitiMortgage, Inc. (6400 Las Colinas Blvd., Irving, TX 75039) to Joseph D Sprouse, Jr. (P O Box 4675, Pineville, LA 71360) - Lot 335, Pointe Cotile Ext. # 3 (1013 Magellan Pass, Boyce, LA 71409), $25,000.00

 

Dept. of HUD to Kimberly A Sewell (1601 Military Hwy., Pineville, LA 71360) - Lot 8, Sq 3, Daigre Addn., $108,000.00

 

Deutsche Bank to Jesse & Augustine Karisny - Lot C of a subdivision of Lot 4, Angelo Lenzini Subd. (203 Donna Dr., Pineville, LA 71360), $25,000.00

 

Interest Rates: 30 year fixed is 3.57% was 3.64% the 15 year rate is 2.99%was 3.02% 5/1 ARM is 2.76% was 2.71%.

 

Rod's Notes For Thursday (Special Day) 07/19/2012


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:

 

Dollar General is under construction at corner of Bringhurst and Lee Street. Ratcliff Investments, LLC (P O Box 7538, Alex., LA 71306) to Red River Bank (1412 Centre Court, Alex., LA 71301) - 1.3869 acres in Sec 7, T4NR1W (1601 Lee St., Alex., LA 71301), $738,000.00

 

McKesson building is not dark and lease term of 7 years is over. What will happen next to this property? Best 117,000 square foot office, research center, and warehouse in the state that is vacant.

 

Near Paradise Baptist Church of Highway 28 East on Hooper Road we have a land owner who is willing to give mobile home away, call my assistant Pricilla 483-1551. There are two Hooper Roads in Rapides Parish.

 

Eddie’s barbeque at Lee and McArthur is opening back up.

 

Pelican Café at Esler airport was sooo!!! Good I am taking my entire staff last week of this month. Try the Perry burger.  

 

Bert D Nichols (4803 Victoria Dr., Alex., LA 71303) to Bradford N & Lynn K Sewell (5060 Hot Wells Road, Boyce, LA 71409) - Lot 1, Sq 6, Hill Addn. (2401 Hill St., Alex., LA), $12,500.00

 

Nancy J Beck, et al (704 Windermere Blvd., Alex., LA 71303) to Benjamin F Walton, III & Rosemary C Walton (6403 Wellington Blvd., Alex, LA 71301) - Lot 60, Charles Park Addn. (4603 Wellington Blvd., Alex., LA 71301), $210,000.00. Not an interesting sale unless you look beyond the actual real estate and look at colorful individual Seymour Joseph. Share story of Shadow Wood in Jackson , Ms.

 

I & P Property Management, LLC James T. Pate (2219 Lee St., Alex., LA 71301) to Jack A Henton (4827 Willow Glen, Alex., LA 71302) - Part of Lot 1, Blk 27, SAL Co. Addn., $60,000.00

 

Sadie & Sophie Investments, LLC Samuel T. Mahfouz (1301 Wimbledon Blvd., Alex., LA 71301) to Progressive Construction Co., LLC (5816 Jackson St., Alex., LA 71303) - Tract in Sec 28, T4NR2W, et al, $40,000.00. Looks like Progressive acquired more land in a sale or exchange on Old Boyce Road, do not believe this is their yard on Highway One.  Progressive own 13.768 acres next to Calhoun family between old Boyce road and red river and Sadie / Sophie Investment also own 13.768 acres and looks like they trade or purchased more land. All of the land appears to be on levee side of the river.

 

Construction contracts recorded: LA DOTD to Gilchrist Construction Co., LLC - 1.136 miles of roadwork on LA 3265 & LA 115, $708,046.11

 

People not properties:

 

Receptionist at Dr. Whitehead’s office was surprised to see me write check for $75,000 instead of $75. Her comment was award winning, “Mr. Noles your teeth must be really, really clean.”

 

Harold Turner is being inducted to Shreveport / Bossier “Business Hall of Fame” and has asked me to do a video clip. Not sure the producer will play what I say.

 

Michael Marcotte director of utility department for City of Alexandria has my trust and confidence. If Mike concludes we need a pipeline I think it wise to follow his lead.

 

Pollock’s Mayor Jerome F. Scott town is debt free and no need to collect property taxes. “If this don’t turn you on you ain’t got no knobs.”

 

Lance Harris my new state representative gave very good speech at Rotary last week. Reminded me of something that Mark Twain once said when asked how long would it take him to prepare an hour speech and he replied five minutes. How long would it take to prepare a five minute speech he replied couple of days?

 

Nora Ephron once said, “When your children are teenagers, it’s important to have a dog so that someone is happy to see you.” Good bye to Arco serve police force for 9 years and was credited with 35 arrests. Kudos to his 14 year life, trainers, and community.

Announcements, Attachments and Travels:

One day CCIM course: Attachment will provide the details, I have trained for this course delivery but commercial sales manager for Latter & Blum will be course instructor. (1) most valuable section of the course is “compare and contrast various measures of yields for investment real estate.”

Lake District HOA meeting: to discuss no fishing enforcement in our private lakes, July 31st at 6:00 PM conference room upstairs at Noles-Frye building.

Day trip to New Orleans for meeting at Latter & Blum and did not go by new $7,500,000 restaurant renovation for John Folse’s new place in Royal Sonesta hotel.

England Authority sales: Warren D & Kristine F Joubert (50 Williamsburg Road, Boyce, LA 71409) to The England Economic and Industrial Development District - Lot 30, Colonial Estates, $124,000.00. Add this sale to last week’s study of $5,417,186 and now up to $5,541,186 and 51 transactions.

Jenni and Doug Hart flew out of Alexandria last Friday and left Noles our grandson with us. How much fun can a human being have? This was my son in law’s first time to fly out of AEX and boy was he surprised and boy was I proud of our wonderful air port.

(+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 July 9th through July 13th, because of 4th July holiday the 9th was counted last week and again 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.   

 

(+1.25) Total weekly volume was: During 5 business days of last week the market gave us 48 sales with volume of $5,895,333. You know the market is getting better when I buy two small rent houses. When we have everything leased I know it is time to buy.

 

(+1.25) Lot sales: To rank positive score need one sale market gave us 3 sales for positive score. Last month more builders broke ground nationwide on most homes in nearly four years. 760,000 home starts in best we’ve seen since 2008 but 1.5 million is the annual pace most economist consider normal. Consider April of 2009 only 478,000 starts and today’s pace is at worst encouraging for subdivision developers with unsold lots.

 

James J & Patsy K Dauzart (110 Kathy Dr., Pineville, LA 71360) to Blaine P & Catherine L Ussery (493 Barney Rush Road, Deville, LA 71328) - 1.173 acres in Sec 7, T4NR2E, $26,000.00

 

DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to Tracy L & Kimberly L Craig (110 Gunter Rd., Pineville, LA 71360) - 1.14 acres in Sec 31, T4NR3E, $25,000.00

 

West Lakes Estates, LLC (2230 MacArthur Dr., Alex., LA 71301) to Shoreline Unlimited, Inc. (123 Cedar Point Dr., Boyce, LA 71409) - Lot 60, West Lakes Estates Subd., Phase 1, $32,000.00

 

(+1.25) New home sales: looking for one new home sale for positive score and market gave us 3, all on north side of the river.

 

Palmetto Enterprises, LLC (42 Philadelphia Road, Pineville, LA 71360) to Mark G & Carolyn J Cary (5705 Whispering Pines Loop, Pineville, LA 71328) - Lot 14, Shady Crest Subd., Phase II (100 Shady Crest Ave., Deville, LA 71328), $179,000.00

 

Team Realty, LLC (3400 Hwy. 28 E, Pineville, LA 71360) to Mandy R Brouillette (105 Iberia Lane, Pineville, LA 71360) - Lot 36, Beau Chene Subd., Phase II, $275,000.00

 

Samson Construction, LLC (37177 Heritage Court, Geismar, LA 70734) to Jason T & Jaymie R Quintana (508 Pearce Road, Pineville, LA 71360) - Lot 10, Shadow Creek Ranch Subd. (304 Shadow Creek Ave., Pineville, LA 71360), $168,000.00

 

Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave us only one sale and 5% of  $5,895,333 = $294,766 and we saw $36,000 in volume

 

Wells Fargo Bank (800 Walnut, Des Moines, IA 50309) to Timmie L Waters (1512 Mohon Dr., Alex., LA 71301) - Part of Lot 15, Hyams Subd. (3515 Horseshoe Dr., Alex., LA 71302), $36,000.00

 

Interest Rates: 30 year fixed is 3.66% was 3.62% the 15 year rate is 3.04%was 3.02% 5/1 ARM is 2.77% was 2.68%. My dentist said he locked in at 3.35% could have gotten 15 years at 2.78%. Our daughter locked in their rate at 3.5% in their situation if interest rates go to 5.5% values would need to go down 20% for them to keep same payment.

 

2.7% for City of Alexandria bonds on $10 million of debt hard to find much better rate in past 40 years.

 

Parting shot: My visit at the barber shop included good story from Robert Corley about Walter Price and then in walks Richard Landry with some great stories about Roy O. Martin and his sales career for Nickie (not spelling it correctly)

 

Existing-Home Sales Constrained by Tight Supply in May, Prices Continue to Gain

Limited supplies of housing inventory held back existing-home sales in May, but sales maintained a strong lead over year-ago levels and home prices are on a sustained uptrend in all regions, according to the National Association of Realtors®.

Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 1.5 percent to a seasonally adjusted annual rate of 4.55 million in May from 4.62 million in April, but are 9.6 percent above the 4.15 million-unit pace in May 2011.

Inventory shortages in certain areas have been building all year. "The slight pullback in monthly home sales is more likely due to supply constraints rather than softening demand. The normal seasonal upturn in inventory did not occur this spring. Even with the monthly decline, home sales have moved markedly higher with 11 consecutive months of gains over the same month a year earlier. There are broad-based shortages of inventory in the lower price ranges in much of the country except the Northeast, and in the West supply is extremely tight in all price ranges except for the upper end.

Locally in Central Louisiana the Mykoff report showed 6.6 month’s supply with our MLS.

Total housing inventory at the end of May slipped 0.4 percent to 2.49 million existing homes available for sale, which represents a 6.6-month supply2 at the current sales pace; there was a 6.5-month supply in April. Listed inventory is 20.4 percent below a year ago when there was a 9.1-month supply. Unsold inventory has trended down from a record 4.04 million in July 2007; supplies reached a cyclical peak of 12.1 months in July 2010.

The recovery is occurring despite excessively tight credit conditions and higher down payment requirements. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage declined to a record low 3.80 percent in May from 3.91 percent in April; the rate was 4.64 percent in May 2011; recordkeeping began in 1971.

The national median existing-home price3 for all housing types rose 7.9 percent to $182,600 in May from a year ago. 

Distressed homes4 - foreclosures and short sales sold at deep discounts - accounted for 25 percent of May sales (15 percent were foreclosures and 10 percent were short sales), down from 28 percent in April and 31 percent in May 2011. Foreclosures sold for an average discount of 19 percent below market value in May, while short sales were discounted 14 percent.

First-time buyers accounted for 34 percent of purchasers in May, compared with 35 percent in April and 36 percent in May 2011.

All-cash sales slipped to 28 percent of transactions in May from 29 percent in April; they were 30 percent in May 2011. Investors, who account for the bulk of cash sales, purchased 17 percent of homes in May, down from 20 percent in April and 19 percent in May 2011.

Single-family home sales slipped 1.0 percent to a seasonally adjusted annual rate of 4.05 million in May from 4.09 million in April, but are 10.4 percent above the 3.67 million-unit level in May 2011. The median existing single-family home price was $182,900 in May, up 7.7 percent from a year ago.

In the South, existing-home sales slipped 0.6 percent to an annual level of 1.78 million in May but are 9.2 percent higher May 2011. The median price in the South was $159,700, up 7.8 percent from a year ago.

Rod's Notes For Wednesday 07/11/12


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:

 

RDK Properties, LLC Richard Kyle  (1423 Lee St., Alex, LA 71303) to PMT Properties, LLC Brent Pearson (2804 North Bolton Ave., Alex., LA 71303) - Lot 2, Northport Commercial & Industrial Park (2804 North Bolton Ave., Alex., LA 71303), $373,750.00 This is 2.688 acres at Northport the seller paid $325,000 in March 3, 2007 from Mobile Air of Louisiana. Appears Brent was leasing this property next door to Petrus and decided to buy it. This is a good sign for Pearson Medical Tech and a fair price landlord selling to their tenant.

 

Robert S Strother (208 Milky Way Dr., Pineville, LA 71360) to Konrad's Collision Center, LLC Konrad Kim Perkins  (4301 Hwy. 28 E, Pineville, LA 71360) - Tract in Sec 9, T4NR1E (4305 Hwy. 28 E, Pineville, LA 71360), $75,000.00.Small building between Jenkins Drive and Alice drive  on north side of 28 east across from Ochio Rios.

 

OSMS Building Corp. (224 Pecan Park Ave., Alex., LA 71303) to Whitney Bank (P O Box 61260, New Orleans, LA 70161) - Part of Lot A, White Oak Center Subd., et al (224 Pecan Park Ave., Alex., LA 71303), $3,535,540.00

 

Unusual conditions in market place last two weeks five subdivisions lots in our office last few days. Two sold in Tennyson Oaks and three in Lake District. Two families walked in our property management looking for executive rentals both had sold very nice homes in new section of Charles Park and Lake District where complete stranger knocks on the door and says will you sell your home.

 

Daughter and her husband purchase home in old Metairie this week. Our son in law made comparison on their loan 3.5% at 40 years compared to 5.5% future rate and wait for home prices to decline. Price would need to decline 20% for their payments to remain the same. They bought now which I think is a good move.

 

Have client who is selling large farm and wants to invest in 1031 deferred tax exchange and looking to buy 20 to 25 nice homes in $160,000 to $200,000 range if you know of someone who owns a portfolio for homes in $150,000 to $200,000 range and wants to sell the entire package please have them call me.

 

Near Paradise Baptist Church of Highway 28 East on Hooper Road we have a land owner who is willing to give mobile home away, call my assistant Pricilla.  

 

Eddie’s barbeque at Lee and McArthur is opening back up.

 

Pelican Café at Esler airport was sooo!!! Good I am taking my entire staff last week of this month. Try the Perry burger.  

 

People not properties:

 

Buried good friend Darrell Guillory this past Monday, Darrell was college classmate, fraternity brother, and was in our wedding. Judy allowed me to visit with him at hospital on Thursday evening and we had great conversation. I told Darrell to send me a signal if he did not make it to heaven I would drastically change my game plan. The State troopers and Parish Sherriff officials standing at attention in the rain at the grave site was a beautiful tribute. If you have a good Darrell Guillory story give us a call.

 

Dan Purvis former baseball coach at LSUA is now an agent with Noles-Frye and I asked him to stop by for a “new agent” highlight.

Construction Contracts:

$25,000,000 in construction is under way on Masonic Drive with (1) orthopedic center and (2) Masonic home apartment development.

LA DOTD to Gilchrist Construction Co., LLC - 1.136 miles of roadwork on LA 3265 & LA 115, $708,046.11

England Airpark purchase and re-investments: Study will show over 50 transactions and $5,400,000 in closed sales and onely $1,100,000 re-invested in Rapides Parish where did the other $4,000,000 go? Any ideas give us a call 442-8255

Announcements, Attachments and Travels:

Twenty local brokers were in attendance to meet with Bruce Unangst executive director for LREC, thanks to Rhonda Reap Curriel for sitting meeting up.

One day CCIM course: Attachment will provide the details, I have trained for this course delivery but commercial sales manager for Latter & Blum will be course instructor. (1) most valuable section of the course is “compare and contrast various measures of yields for investment real estate.”

Lake District HOA meeting: to discuss no fishing enforcement in our private lakes. Prior to first LSU home game likely to have 6 custom homes under construction.

Mykoff absorption report 6.66 month’s supply of homes 626 homes on market 1st of June 94 sold in 6.66 months sold out.

24 homes above $400,000 of which 1 sold providing 24 month supply

63 homes between $250,000 and $400,000 and 11 sold providing 5.73 month supply.

185 homes between $150,000 and $250,000 and 28 sold leaving 6.61 month supply

354 homes under $150,000 and 54 sold leaving 6.56 month supply

Average home price May to May comparison in MLS is up 6% from same time last year.

(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. Only negative this week is strong lender sales

 

Legal recorder data: five business days from time period of July 2nd through July 9th, keep in mind slow week with July 4th holiday.

  

(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: $5,131,000 with 48 transactions from July 2nd to Monday of this week the 9th in order to get 5 business days.

 

(+1.25) Lot sales: To rank positive score need one sale market gave us 48 sales with 5 day business volume of $5,131,700

 

Trustland Mtg., LLC (5615 Jackson St., Building L, Alex., LA 71303) to TSW Properties, LLC (6 Hwy. 461, Hineston, LA 71438) - 1.1 acres in Sec 4, T4NR2E, $22,000.00

 

DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to John L Huekl, Jr. (28 Billy Evans Road, Pineville, LA 71360) - 1.28 acres in Sec 21, T5NR1E, $22,000.00

 

Jeff Porter Investments, LLC (42 Philadelphia Road, Pineville, LA 71360) to Johnny Porter & Son Contractors, Inc. (42 Philadelphia Road, Pineville, LA 71360) - Lots 3 & 4, Prairie Land Subd. (6 Tyler Road, Deville, LA 71328), $42,000.00

 

(+1.25) New home sales: looking for one new home sale for positive score

 

ABC Homes, Inc. (P O Box 1236, Glenmora, LA 71433) to Jennifer M Boudreaux (101 Havens Road, Elmer, LA 71424) - 2 acres in Sec 25, T2NR4W (101 Havens Road, Elmer, LA 71424), $129,400.00

 

V & V Builders, LLC (P O Box 12846, Alex., LA 71315) to Terrence D & Tanya D Williams (5908 West Austin Dr., Alex., LA 71303) - Lot 220, Bocage Subd., Phase V (5908 West Austin Dr., Alex., LA 71303), $205,000.00

 

(-1.25) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave us 5 sales totaling $536,810 / $5,131,700 = 10.46%

 

Sabine State Bank (P O Box 670, Many, LA 71449) to Wanda S Robbins (3246 Rigolette Road, Pineville, LA 71360) - 15.287 acres in Sec 26, T5NR1W, et al, $212,500.00

 

The Evangeline Bank (P O Box P O Box 12900, Alex., LA 71315) to D.D.T., Inc. (1903 Britt Lane, Glenmora, LA 71433) - 2.9 acres in Sec 70, T4NR3W (200 Mude Road, Boyce, LA 71309), $82,000.00

 

Dept. of HUD to Celena Lewis (4825 Porter Circle, Alex., LA 71302) - Lot 31, Acadian Village Subd., $31,060.00

 

First Federal Bank of LA (P O Box 1667, Lake Charles, LA 70602) to Joshco, LLC (324 Live Oak, Pineville, LA 71360) - Tract in Sec 26, T3NR1W (5968 Eddie Williams Ave., Alex., LA 71301), $172,500.00

 

Springleaf Financial Services of LA (8550 United Plaza Blvd., Baton Rouge, LA 70809) to Destiny Properties, LLC (198 Foxfire Lane, Alex., LA 71302) - Lot 2, Blk A, Brewer Addn. (3623 Evergreen Dr., Alex., LA 71301), $38,750.00

 

Interest Rates: 30 year fixed is 3.62% was 3.67% the 15 year rate is 3.02%was 3.03% 5/1 ARM is 2.68% was 2.72%.

 

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